Quantum Exponential Group Stock (OTC: QEGPF)

Latest news for Quantum Exponential Group (OTC:QEGPF) Stock

Quantum Exponential Group PLC is engaged in identifying investment opportunities in the quantum technology sector. Its investments include quantum communications, quantum sensing, quantum metrology, and quantum computing software and components.

QUANTUM EXPONENTIAL GROUP by QUANTUM EXPONENTIAL GROUP PLC.

Quantum Exponential Group PLC

News

Offerings

WINT

Windtree Therapeutics On Thursday Filed Form RW  To Withdraw Registration Statement On Form S-1

Deutsche Bank analyst Scott Deuschle upgrades Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) from Hold to Buy and raises the price target from $540 to $600.

Upgrades

Price Target

Analyst Ratings

Deutsche Bank Upgrades Lockheed Martin to Buy, Raises Price Target to $600

Deutsche Bank analyst Scott Deuschle downgrades L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) from Buy to Hold and raises the price target from $245 to $257.

Downgrades

Deutsche Bank Downgrades L3Harris Technologies to Hold, Raises Price Target to $257

Baird analyst Joel Beatty initiates coverage on Dianthus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNTH#NASDAQ">DNTH</a>) with a Outperform rating and announces Price Target of $58.

Initiation

DNTH

Baird Initiates Coverage On Dianthus Therapeutics with Outperform Rating, Announces Price Target of $58

In a joint advisory, the United States, South Korea, and the U.K. have accused North Korean hackers of conducting a global cyber espionage campaign to pilfer classified military secrets.
What Happened: The hackers, identified as &#8220;Anadriel&#8221; or &#8220;APT45&#8221; by cybersecurity researchers, are allegedly part of North Korea&#8217;s Reconnaissance General Bureau intelligence agency, which was sanctioned by the U.S. in 2015, Reuters reported on Friday.
The hackers have purportedly targeted or breached computer systems at multiple defense and engineering companies, including those manufacturing tanks, submarines, naval vessels, fighter aircraft, and missile and radar systems.
Victims in the U.S. include the National Aeronautics and Space Administration (NASA), Randolph Air Force Base in Texas, and Robins Air Force Base in Georgia. In the NASA breach, hackers allegedly used malware to gain unauthorized access to its computer system for three months, extracting over 17 gigabytes of unclassified data.
See Also: <a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un Rejects Donald Trump&#8217;s Friendship Claims? North Korea Says &#8216;We Do Not Care,&#8217; Expresses Nuclear Readiness Amid Rising Tension With US</a>
The advisory warned that the hacking group and its techniques continue to pose an ongoing threat to various industry sectors worldwide, including those in Japan and India. To fund their operations, the hackers reportedly used ransomware to target U.S. hospitals and healthcare companies.
The U.S. Justice Department has charged one suspect, Rim Jong Hyok, for conspiring to access computer networks in the U.S. and money laundering. The FBI is offering a reward of up to $10 million for information leading to Rim&#8217;s arrest.
Why It Matters: This revelation comes amid a series of aggressive moves by North Korea. The nation has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39857521/kim-jong-un-led-north-korea-has-found-the-crypto-industry-an-easy-target-former-fbi-agent-">targeting the cryptocurrency industry</a>, with North Korean hackers stealing an estimated $2 billion in the last two years. This latest cyber espionage campaign further underscores the nation&#8217;s relentless pursuit of funds to support its banned nuclear weapons program.
Earlier in May, the U.S. Justice Department accused an American woman of being involved in a scheme that allegedly helped North Korea fund its <a href="https://www.benzinga.com/news/24/05/38889012/kim-jong-uns-north-korea-used-american-it-scammer-to-fund-nuclear-weapons-program-doj">nuclear weapons program</a>. The scheme involved over 300 U.S. companies hiring foreign nationals with North Korean connections for remote IT work, sending $6.8 million of revenue overseas.
North Korea has also been vocal about its concerns regarding the U.S. and South Korea&#8217;s joint military drills, accusing them of <a href="https://www.benzinga.com/news/24/07/39883605/kim-jong-uns-north-korea-slams-us-and-south-korea-for-crossing-a-red-line-on-nuclear-war-without-hes">crossing a &#8220;red line&#8221; toward </a>a new nuclear wa<a href="https://www.benzinga.com/news/24/07/39883605/kim-jong-uns-north-korea-slams-us-and-south-korea-for-crossing-a-red-line-on-nuclear-war-without-hes">r</a>. Despite former President Donald Trump&#8216;s claims of a good relationship with Kim Jong Un, North Korea has <a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea">rejected these assertions</a>, emphasizing its nuclear readiness in response to rising tensions with the U.S.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Ballot</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Global

General

Kim Jong Un's North Korea's Cyber Espionage On US Military Secrets Sparks Outrage Among Washington And Allies

Piper Sandler analyst Clarke Jeffries maintains Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) with a Overweight and raises the price target from $529 to $625.

Piper Sandler Maintains Overweight on Tyler Technologies, Raises Price Target to $625

AMKR

Amkor Technology Says It Inked Preliminary Memorandum Of Terms With US Department Of Commerce For Arizona Advanced Packaging And Test Facility

Piper Sandler analyst Brent Bracelin maintains AppFolio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPF#NASDAQ">APPF</a>) with a Overweight and raises the price target from $295 to $300.

APPF

Piper Sandler Maintains Overweight on AppFolio, Raises Price Target to $300

Analysts at Wedbush Securities have sounded an optimistic note about Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) prospects, thanks to its performance in the retail segment. They are also bullish on Amazon&#8217;s rising operating margins, growth of the Amazon Web Services business, and AI monetization.
What Happened: Ahead of Amazon&#8217;s <a href="https://www.benzinga.com/quote/AMZN">second-quarter results</a>, scheduled to be released on Aug. 1, Wedbush analysts have laid out their bull thesis for the company with a price target of $225 in 12 months. The analysts are confident in Amazon&#8217;s position within their coverage group and have maintained an Outperform rating for the company.
Wedbush expects AWS growth of over 18% year-over-year in the second quarter, above the consensus of over 16.9%. &#8220;During the call, we will be listening for commentary related to AI&#8217;s contribution to AWS as well as the broader business,&#8221; analysts wrote. 
Amazon&#8217;s AWS growth accelerated by 400bps in the last quarter, and a modest acceleration is expected in the second quarter. The analysts view the strength of Alphabet Inc.&#8217;s (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 Cloud segment as a positive sign for AWS.
The analysts are closely monitoring several key factors, including the retail segment&#8217;s performance, the growth of AWS, and the company&#8217;s AI monetization. They have also highlighted the potential impact of capital expenditure requirements to support infrastructure and AI investments.
Despite some concerns about Amazon&#8217;s second-quarter revenue guidance and recent questions about Prime Day results, analysts believe that Amazon is relatively insulated from recent competitive threats and continues to gain market share in the retail and e-commerce sectors.
&#8220;While investor sentiment is broadly positive, we think weak 2Q revenue guidance and more recent questions surrounding Prime Day results early in 3Q have reignited debates related to eCommerce competition.&#8221;
&#8220;We believe slowing retail segment growth in 2Q is primarily macro and comp driven this quarter rather than a symptom of larger competitive issues, and our survey work supports our view that Amazon is relatively insulated from recent competitive threats and continues to gain market share of retail and eCommerce,&#8221; the analysts wrote. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39947856/tesla-bull-cathie-woods-ark-invest-sells-7-16m-worth-of-ev-makers-shares-after-q2-earnings-revea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Bull Cathie Wood&#8217;s Ark Invest Buys $7.16M Worth Of EV Maker&#8217;s Shares After Q2 Earnings Reveal Profits Tanked Sharply</a>
Why It Matters: Amazon&#8217;s recent strategic moves further underscore its growth trajectory in the cloud and advertising sectors. Earlier in July, multiple analysts, including Wolfe Research&#8216;s Shweta Khajuria, predicted an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39802984/amazon-analysts-predict-upside-for-stock-into-q2-earnings-prior-headwinds-turn-into">upside for Amazon stock</a> in second-quarter earnings. Khajuria&#8217;s bull case centers around AWS growth acceleration, margin expansion, and retail share gains.
As the second-quarter earnings season approached, JPMorgan analyst Doug Anmuth highlighted Amazon as a top pick, alongside Uber Technologies Inc. and Google. Despite concerns about consumer spending slowdowns, Anmuth remains <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39799324/q2-earnings-preview-why-amazon-uber-google-are-jpmorgans-top-picks">optimistic about these large-cap names</a>.
In June, Amazon disclosed plans to invest billions in Taiwan over the next 15 years to <a href="https://www.benzinga.com/markets/asia/24/06/39284404/amazon-to-invest-billions-in-taiwan-cloud-infrastructure-expanding-aws-presence-in-asia">establish data centers</a>, expanding its global footprint in Asia. 
Price Action: Amazon stock closed at $179.85 on Thursday, down 0.54%. In after-hours trading, the stock rose 0.24%. Year to date, Amazon has gained 19.96%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39910831/tesla-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Equities

Reiteration

Markets

Tech

AMZN

GOOG

GOOGL

Amazon 'Relatively Insulated' In Retail Segment, Analysts Bullish About Growth In AWS: AI Contribution To Watch Out For

EVTL

Vertical Aerospace Says Its Latest VX4 Prototype Has Performed Its First Tethered Piloted Flight

Former President Barack Obama And Former First Lady Michelle Endorsed Kamala Harris' Bid For President

In a recent development, the Pentagon has discovered an additional $2 billion in accounting errors related to aid sent to Ukraine. According to a recent U.S. government report, this takes the total of improperly valued material to $8.2 billion.
What Happened: The U.S. Department of Defense has been grappling with accurately valuing defense articles sent to Ukraine due to ambiguous accounting definitions. This information was revealed in a new Government Accountability Office (GAO) report, Reuters reported on Friday.
In 2023, the <a href="https://www.benzinga.com/government/23/06/32955310/my-bad-how-an-accounting-error-is-giving-the-us-government-6-billion-in-extra-ukraine-aid">Pentagon confessed that </a>its staff used &#8220;replacement value&#8221; instead of &#8220;depreciated value&#8221; to calculate the billions in materials sent to Ukraine. This $6.2 billion error led to additional billions being dispatched to Kyiv.
Since then, the Pentagon has identified $2 billion more in overstatements. As a result, an extra $2 billion worth of arms can be sent to Ukraine to meet the aid amount approved by the Biden administration.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39964922/ron-desantis-says-florida-supreme-court-should-not-have-allowed-cannabis-legalization-initiative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron DeSantis Says Florida Supreme Court Should &#8216;Not Have Allowed&#8217; Cannabis Legalization Initiative On Ballot</a>
The GAO highlighted that a vague definition of value in the Foreign Assistance Act and the absence of specific valuation guidance for the Presidential Drawdown Authority have led to inconsistencies in the reported value of military aid. For example, the GAO report mentioned a case where 10 vehicles were valued at $7,050,000, while the supporting documentation indicated they should have been valued at zero, their net book value. 
The GAO has recommended that Congress clarify the definition of value in the context of defense articles under Presidential Drawdown Authority. It has also issued seven recommendations to the Defense Department, urging it to update its guidance to include a PDA-specific valuation section and develop component-specific valuation procedures. The department has agreed with all recommendations and outlined actions to address these issues.
Why It Matters: Amid escalating tensions with Russia, Ukraine has been the recipient of <a href="https://www.benzinga.com/news/24/07/39673768/russia-rains-missiles-on-ukraine-as-nato-readies-to-discuss-military-aid">significant military aid</a> from the U.S., with the NATO summit in July focusing on providing long-term support for Ukraine in the war against Russia. 
Ukrainian President Volodymyr Zelenskyy <a href="https://www.benzinga.com/news/24/07/39700167/zelenskyy-lands-in-washington-as-nato-summit-puts-ukraine-aid-first">sought to boost</a> allied support for his country during his visit to Washington, D.C.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39950334/anthony-scaramucci-flags-demographic-data-causing-jitters-in-trumps-campaign-calls-harris-a-competen?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Flags Demographic Data Causing Jitters In Trump&#8217;s Campaign, Calls Harris A &#8216;Competent &nbsp;Steward Of The American Century&#8217;</a></li>
</ul>
White House Photo by Adam Schultz
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>

Pentagon Finds Another $2B Accounting Error In Ukraine Aid, Bringing Total to $8.2B

The technology sector is witnessing a downturn as stocks continue to falter due to unimpressive earnings. expert has indicated that the unwinding of popular trades, which led to inflated valuations, has begun.
What Happened: The assumptions driving this year&#8217;s global financial markets are being rapidly reassessed. Investors are scrambling to redeploy money amid growing doubt over the U.S. economy&#8217;s outlook, leading to speculation that the Federal Reserve may implement faster or deeper rate cuts than previously planned, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-25/everything-you-thought-you-knew-about-2024-markets-has-changed">reported</a> on Friday.
Investors have become skeptical about the payoff of technology companies&#8217; substantial investments in artificial intelligence. Consequently, shares of big winners such as Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) have been discarded.
&#8220;It does seem that an unwinding has begun of popular trades that brought valuations to stupid levels,&#8221; Louis-Vincent Gave, CEO of Gavekal Research, wrote in a note to clients.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39898236/jeff-bezos-era-downstream-impact-losing-its-mojo-amazon-ceo-andy-jassy-is-reportedly-rethinking-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos-Era &#8216;Downstream Impact&#8217; Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses</a>
Torsten Slok, chief economist at Apollo Global Management, warned clients that &#8220;if the economy starts slowing down, the speed of the slowdown becomes essential. A faster slowdown would have negative implications for earnings and increase the probability of a selloff in stock markets and credit markets.&#8221;
Government bonds are also experiencing a gloomier global growth outlook, prompting investors to snap up short-dated securities amid concerns that monetary policy is too tight, acting before borrowing costs decrease.
Stock markets have been driven this year by a consensus that inflation was coming under control, allowing the Fed to ease monetary policy later in the year and thus avoid a recession. Now, many investors believe that the Fed is falling behind the curve — not only is inflation quieting, but the economy is weakening too much.
Why It Matters: This downturn follows a tech stock selloff triggered by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39950739/tesla-apples-lackluster-reports-cause-hair-trigger-for-investors-to-rethink-tech-he">disappointing quarterly reports</a> from Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), causing the tech-heavy Nasdaq Composite to drop 3.6% on its worst day since October 2022.
Despite the selloff, CNBC Mad Money host Jim Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39932009/jim-cramer-slams-tesla-google-parent-alphabet-sellers-says-anyone-who-listened-to-c">defended the performance</a> of Tesla and Alphabet, stating that anyone who listened to their conference calls would know that these companies are performing extremely well.
The S&amp;P 500 and the Nasdaq Composite concluded <a href="https://www.benzinga.com/news/earnings/24/07/39978094/s-p-500-nasdaq-settle-lower-as-tech-stocks-continue-to-falter-greed-index-in-fear-zone">lower on Thursday</a>, continuing the trend of significant losses from the previous session. Major tech companies, including Nvidia, Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet, all closed lower.
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

AVGO

MSFT

NVDA

TSLA

As Tech Stocks Continue To Falter Amid Tesla, Google's Unimpressive Earnings, Expert Says 'Unwinding Has Begun Of Popular Trades That Brought Valuations To Stupid Levels'

The CNN Money Fear and Greed index showed a further decline in the overall market sentiment, with the index remaining in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks closed mixed on Thursday, with the S&amp;P 500 and the Nasdaq Composite moving lower after recording sharp losses in the prior session.
Shares of leading technology companies, including, Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), while Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet (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>) settled lower on Thursday.
Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) shares tumbled over 18% on Thursday after the company missed analyst EPS estimates for the 2024 fiscal year second quarter. Shares of Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) dipped 31% after the company reported worse-than-expected second-quarter sales results and issued third-quarter guidance below estimates. Also, the company acquired JenaValve and Endotronix.
On the economic data front, U.S. initial jobless claims declined by 10,000 to 235,000 in the week ending July 20, compared to market estimates of 238,000. The U.S. economy grew by an annualized 2.8% in the second quarter, up from 1.4% in the prior quarter, and higher than expectations of 2%.
Most sectors on the S&amp;P 500 closed on a negative note, with information technology, communication services and utilities stocks recording the biggest losses on Thursday. However, energy and industrial stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 81 points to 39,935.07 on Thursday. The S&amp;P 500 fell 0.51% at 5,399.22, while the Nasdaq Composite fell 0.93% at 17,181.72 during Thursday's session.
Investors are awaiting earnings results from Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) and Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 39.3, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 40.2.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>

Earnings

Pre-Market Outlook

Trading Ideas

CHTR

S&P 500, Nasdaq Settle Lower As Tech Stocks Continue To Falter: Greed Index In 'Fear' Zone

Eni (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) reported $24.82 billion in sales this quarter. This is a 15.05 percent increase over sales of $21.57 billion the same period last year.

Eni Q2 Sales $24.82B Up From $21.57B YoY

Ismael "El Mayo" Zambada, co-founder of Mexico&#8217;s <a href="https://www.benzinga.com/markets/cannabis/23/10/35294836/el-chapo-behind-bars-but-still-in-power-orders-sons-to-quit-fentanyl-trade-to-the-us" target="_blank" rel="noreferrer noopener">Sinaloa drug cartel</a> is in U.S. custody along with Joaquin Guzman Lopez, son of the other cartel co-founder <a href="https://www.benzinga.com/markets/cannabis/23/01/30516394/el-chapo-wants-to-serve-his-sentence-at-home-does-mexico-have-a-prison-secure-enough-to-hold-him" target="_blank" rel="noreferrer noopener">Joaquin "El Chapo" Guzmán</a>, Attorney General Merrick Garland confirmed in a press release. The two men were arrested Thursday in El Paso, Texas. 
"The Justice Department has taken into custody two additional alleged leaders of the Sinaloa Cartel, one of the most violent and powerful drug trafficking organizations in the world,&#8221; stated Garland. &#8220;El Mayo and Guzman Lopez join a growing list of Sinaloa Cartel leaders and associates who the Justice Department is holding accountable in the United States.&#8221;
These developments mark a significant blow to the Sinaloa Cartel&#8217;s leadership and operations.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/01/36707665/dea-seizes-largest-amount-of-fentanyl-in-its-history-386m-lethal-doses-enough-to-kill-every-amer">DEA Seizes Largest Amount Of Fentanyl In Its History: 386M Lethal Doses, Enough &#8216;To Kill Every American&#8217;</a>
Both men face a series of charges related to their roles in the cartel&#8217;s extensive criminal operations, including the <a href="https://www.benzinga.com/markets/cannabis/24/06/39563755/dea-indicts-la-based-sinaloa-cartel-members-for-laundering-50m-in-drug-money-via-underground-chi">manufacturing and trafficking of fentanyl</a>. 
&#8220;Fentanyl is the deadliest drug threat our country has ever faced, and the Justice Department will not rest until every single cartel leader, member, and associate responsible for poisoning our communities is held accountable," Garland said.
<h2 class="wp-block-heading">Sinaloa Cartel</h2>
Originating in Sinaloa, Mexico, the cartel is known for smuggling large quantities of fentanyl, methamphetamine and heroin into the U.S.
The latest charges against El Mayo Zambada, who has long been considered one of Mexico&#8217;s most notorious drug traffickers, were filed in February. 
Federal prosecutors detailed Zambada&#8217;s extensive operations, which spanned from 1989 to 2024, involving the importation and distribution of massive amounts of narcotics, resulting in billions of dollars in profits. The indictment also alleges that he employed individuals to secure transportation routes and warehouses for drug storage and used hitmen to eliminate rivals.
Following El Chapo&#8217;s 2018 conviction and <a href="https://www.benzinga.com/markets/cannabis/23/01/30516394/el-chapo-wants-to-serve-his-sentence-at-home-does-mexico-have-a-prison-secure-enough-to-hold-him" target="_blank" rel="noreferrer noopener">life sentence,</a> which he&#8217;s serving in a supermax prison in Colorado, his partner El Mayo Zambada managed to evade capture for years and continued to run the Sinaloa cartel.
El Mayo&#8217;s son Vicente, however, was arrested and sentenced to 15 years in 2019 after being extradited from Mexico in 2010. He admitted to orchestrating murders and kidnappings for the cartel. 
Shortly after his arrest, Vicente began cooperating with U.S. authorities, helping them target cartel members, which led to numerous indictments, reportedly including his father and other top Sinaloa cartel leaders.
El Mayo was indicted by a U.S. federal grand jury in April 2012 for violent acts committed by cartel members, such as the 2010 kidnapping and murder of an American citizen and his family members due to their connections with a rival cartel, <a href="https://www.cnn.com/2024/07/25/us/sinoloa-cartel-ismael-zambada-custody-report/index.html">reported</a> CNN. Another incident involved the brutal killing of a Texas resident in 2009 over a lost marijuana shipment.
Now Read: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39967244/dea-special-comment-period-for-cannabis-rescheduling-us-tribes-weigh-in-seek-recognition-for-anc">DEA Special Comment Period For Cannabis Rescheduling: US Tribes Weigh In, Seek Recognition For &#8216;Ancient Medicinal Plant&#8217;</a></li>
</ul>
Photo courtesy of U.S. Customs and Border Protection

Cannabis

Government

Legal

Merrick Garland Confirms Arrest Of Mexico's Sinaloa Cartel Leader And Son Of Infamous 'El Chapo' Guzman

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) took to social media platform X earlier this week to warn customers against putting wet towels on <a href="https://www.benzinga.com/news/24/07/39951183/tesla-supercharger-network-growth-slows-down-in-q2-after-exit-of-rebecca-tinucci-and-other-employees">supercharger cable handles</a> to speed up charging their EVs.
What Happened: Placing a wet cloth on supercharger handles does not increase charging speed but instead increases risks of overheating or damage as it interferes with temperature monitors, Tesla said.
&#8220;Please refrain from doing this so our systems can run correctly, and true charging issues can be detected by our systems,&#8221; Tesla wrote via its handle dedicated to charging updates. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Placing a wet cloth on Supercharger cable handles does not increase charging rates and interferes with temperature monitors creating risk of overheating or damage. Please refrain from doing this so our systems can run correctly, and true charging issues can be detected by our…
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1816284411425673578?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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The company was responding to the hack of cooling charging cables with wet cloths to enable faster charging doing the rounds again on social media ahead of the summer. 
Tesla&#8217;s charger slows down charging pace on sensing excess temperature as in summers when the sun heats the cable and putting a wet towel on the cable helps bring this temperature down, thereby allowing a higher charging rate, proponents of the hack believe. 
Why It Matters:&nbsp;Earlier this week, Tesla said that the company had 59,596 supercharger connectors around the globe as of the end of the second quarter, or 24% more than the corresponding quarter of 2023.
The growth rate of superchargers, however, has slowed significantly since the company <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">announced plans to lay off 10% of its global workforce</a> in April. The layoffs impacted <a href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off" target="_blank" rel="noreferrer noopener">500 members of the supercharging team</a> and Rebecca Tinucci, Tesla's then Senior Director of Charging Infrastructure, left the company.
Superchargers grew only 3.5% from the end of the first quarter to the second, significantly lower than the quarter-on-quarter growth of 7.4% in the number of superchargers recorded through the fourth quarter. Even through the first quarter of 2024, supercharger numbers grew by 4.9%.
However, the company will <a href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024">invest $500 million in expanding the supercharger network</a> this year, Tesla CEO Elon Musk said at the company&#8217;s annual shareholder meeting last month, while also keeping an eye on capital efficiency and the places they are deployed.
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 More:
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<li><a href="https://www.benzinga.com/news/24/07/39934750/trump-presidency-and-ira-cut-would-be-devastating-for-competitors-says-elon-musk-long-term-probably" target="_blank" rel="noreferrer noopener">Trump Presidency And IRA Cut Would Be ‘Devastating&#8217; For Competitors, Says Elon Musk: ‘Long Term Probably Actually Helps Tesla&#8217;</a></li>
</ul>
Photo via Shutterstock

Tesla Says Using Wet Cloth On Supercharger Cables Does Not Increase Charging Speeds, Warns Customers Of 'Risk Of Overheating Or Damage'

alliditas Therapeutics AB&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALT#NASDAQ">CALT</a>) (STOCKHOLM: CALTX)&nbsp;(&quot;Calliditas&quot;) today announced that the Phase&nbsp;2b&nbsp;TRANSFORM trial met its primary endpoint, showing statistically significant improvement in ALP (Alkaline Phosphatase) for both doses tested versus placebo. The trial evaluated&nbsp;setanaxib, a NOX enzyme inhibitor, in patients with primary biliary cholangitis (PBC) and elevated liver stiffness.

CALT

Calliditas Therapeutics Reports TRANSFORM Phase 2b Topline Data In Primary Biliary Cholangitis

For the first time, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) banner was flown outside the New York Stock Exchange building, symbolizing the world&#8217;s second-largest cryptocurrency&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38971871/strike-ceo-ethereum-etfs-are-good-for-banks-because-wall-street-loves-volatility">rising importance</a> on Wall Street.
What Happened: In a video posted Thursday by Bitwise President Teddy Fusaro, the banner of Bitwise Ethereum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) went up outside the facade of the iconic trading platform. The ticker of the fund, ETHW, was displayed prominently on the banner.
Reacting to the video, Nate Geraci, president of The ETF Institute, said, "What a moment… The word &#8220;Ethereum&#8221; hanging from the 120-year-old New York Stock Exchange building. The picture might end up in the history books someday."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What a moment&#8230; The word &quot;Ethereum&quot; hanging from the 120yr old New York Stock Exchange building. Picture might end up in the history books someday. <a href="https://t.co/Ilnfj19zKJ">https://t.co/Ilnfj19zKJ</a>
&mdash; Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1816620919353483273?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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Silicon Valley investor Balaji Srinivasan, a notable figure in the tech and cryptocurrency spheres, hailed the event as Ethereum's victory over the Securities and Exchange Commission (SEC.)
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The flag of ETH is raised over Wall Street. And the SEC surrenders to a more powerful regulator. Because it is Ethereum that now provides standardized market access to all Internet participants. The network defeats the state.<a href="https://t.co/7nlQCxXvWz">pic.twitter.com/7nlQCxXvWz</a>
&mdash; Balaji (@balajis) <a href="https://twitter.com/balajis/status/1816695480014741752?ref_src=twsrc%5Etfw">July 26, 2024</a></blockquote>
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It's worth reminding that this is not the first time that a cryptocurrency fund banner has been raised on Wall Street. The banner of Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) appeared outside the NYSE earlier in February.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39976626/jersey-city-pension-fund-to-follow-wisconsins-lead-with-bitcoin-etf-investment-ive-been-a-">Jersey City Pension Fund To Follow Wisconsin&#8217;s Lead With Bitcoin ETF Investment: &#8216;I&#8217;ve Been A Long Time Believer In Crypto,&#8217; Says Mayor Fulop</a>
Why It Matters: The <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897440/ethereum-etfs-get-final-go-ahead-from-the-sec-what-happens-next">final approval of spot Ethereum ETFs</a> earlier this week is perceived as a major victory against forces in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37538468/sec-chair-gary-gensler-declines-to-say-whether-ethereum-is-a-commodity-its-about-circumsta">SEC who had raised concerns that the cryptocurrency is a security</a>.
The nine new ETFs have recorded trading volumes close to $1 billion on each of the first three days since launch, according to SoSo Value.&nbsp;
Talking about Bitwise Ether ETF, the fund has attracted cumulative net inflows of $250 million since listing.
Price Action: At the time of writing, Ethereum was trading at $3,267.86, up 2.90% 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>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/07/39976208/bitcoin-etfs-in-japan-franklin-templeton-partners-with-sbi-holdings-to-launch-digital-asset-manageme">Bitcoin ETFs In Japan: Franklin Templeton Partners With SBI Holdings To Launch Digital Asset Management Company</a></li>
</ul>
Photo courtesy: Shutterstock

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

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$ETH

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Ethereum Banner Raised Outside NYSE, Industry Observer Says Moment 'Might End Up In The History Books'

<ul>
<li>The marketing authorization for SKYRIZI&reg;&nbsp;(risankizumab) marks its fourth approved indication in the European Union</li>
<li>The approval is supported by data from two pivotal Phase 3 trials: The INSPIRE induction trial1&nbsp;and COMMAND maintenance trial2</li>
<li>In both trials, SKYRIZI achieved the primary endpoint of clinical remission (per Adapted Mayo Score&#x2A;) and key secondary endpoints, including mucosal healing&#x2A;&#x2A; and histologic endoscopic mucosal healing&dagger;,1,2</li>
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