Latest news for  (OTC:RADNS) Stock

GUIDANCE AND OUTLOOK: The Company is reiterating financial guidance of double-digit AOI margin(2) in 2024, as well as positive Industrial free cash flow(3), despite macroeconomic uncertainties.

Earnings

News

Guidance

STLA

Stellantis Reiterated Financial Guidance Of Double-Digit AOI Margin In 2024, And Positive Industrial Free Cash Flow

<ul>
<li>Repurchases Under Current Program now Expected to be Completed by End of July</li>
</ul>
RICHMOND, Va.,&nbsp;July 25, 2024&nbsp;/PRNewswire/ -- Indivior PLC&nbsp;(Nasdaq/LSE: INDV) (&quot;Indivior&quot; or the &quot;Company&quot;), a leading addiction treatment company, today announced that its Board of Directors has approved a new share repurchase program under which the Company will commence repurchasing Indivior&#39;s ordinary shares of&nbsp;$0.50&nbsp;each (the &quot;Ordinary Shares&quot;) for up to a maximum consideration of&nbsp;$100 million&nbsp;(the &quot;New Program&quot;).&nbsp; The New Program will be carried out on an accelerated basis and is expected to be completed over the next six months, subject to compliance with applicable trading restrictions

Buybacks

INDV

Indivior Announces Accelerated $100M Share Repurchase Program, Targeting Completion Within Six Months

Indivior (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) reported quarterly earnings of $0.44 per share which beat the analyst consensus estimate of $0.14 by 214.29 percent. This is a 12.82 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $299.00 million which beat the analyst consensus estimate of $296.05 million by 1.00 percent. This is a 8.33 percent increase over sales of $276.00 million the same period last year.

Indivior Q2 EPS $0.44 Beats $0.14 Estimate, Sales $299.00M Beat $296.05M Estimate

Sandoz launches biosimilar Pyzchiva&reg;&nbsp;(ustekinumab) across Europe, to treat chronic inflammatory diseases
<ul>
<li>Launch across Europe, starting today, strengthens well-established Sandoz immunology portfolio in Europe, leveraging existing footprint</li>
<li>Pyzchiva&reg; first ustekinumab biosimilar to launch in Europe with all reference medicine strengths, including 130mg vial initiation dose for Crohn&#39;s disease</li>
<li>Pyzchiva&reg; to treat adults with plaque psoriasis, psoriatic arthritis, Crohn&#39;s disease and pediatric plaque psoriasis</li>
</ul>

SDZNY

Sandoz Strengthens Market Presence With Launch Of Pyzchiva (Ustekinumab) Biosimilar Across Europe

The People&#8217;s Bank of China (PBOC) has executed an unscheduled lending operation at significantly lower rates, indicating a potential increase in <a href="https://www.benzinga.com/government/24/07/39878618/whats-going-on-with-alibaba-and-other-chinese-stocks-on-monday">monetary stimulus to support the economy</a>.
What Happened: The PBOC conducted a medium-term lending facility (MLF) operation, issuing 200 billion yuan ($27.5 billion) in one-year loans at a rate of 2.30%, a 20 basis point decrease from the previous MLF loan, Reuters reported. This move follows the bank&#8217;s decision to cut several benchmark lending rates just days after a key leadership meeting that outlined major reforms.
The central bank also injected 235.1 billion yuan into the market through seven-day reverse repos at 1.70%. This cash injection was intended to &#8220;maintain reasonably ample month-end banking system liquidity conditions,&#8221; according to the bank&#8217;s statement.
Market analysts, including Xing Zhaopeng from ANZ, attribute the MLF rate cut to sharp declines in China&#8217;s stock markets. The Hang Seng China Enterprises index in Hong Kong fell 1.6%, reflecting concerns over deflationary pressures and weak consumer demand.
See Also: <a href="https://www.benzinga.com/general/politics/24/07/39895900/who-is-kamala-harris-father-stanford-economist-donald-j-harris?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Who Is Kamala Harris&#8217; Father, Stanford Economist Donald J. Harris?</a>
&#8220;It shows the PBOC wants to be more accommodating to banks in lowering their medium-term funding costs,&#8221; said Gary Ng, Asia Pacific senior economist at Natixis.
&#8220;The fact that PBOC didn&#8217;t wait for the Fed to cut first indicates that the government recognizes the downward pressure on China&#8217;s economy,&#8221; said Zhang Zhiwei, president and chief economist at Pinpoint Asset Management.
Why It Matters: The latest move by the PBOC comes amid a series of economic challenges facing China. Recently, Chinese stocks, including Alibaba Group Holding Limited. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), PDD Holdings Inc., (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), and JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), saw a boost after China <a href="https://www.benzinga.com/government/24/07/39878618/whats-going-on-with-alibaba-and-other-chinese-stocks-on-monday">lowered key interest rates</a> to stimulate the economy. This decision was driven by weak growth in the second quarter, looming deflation, and a prolonged property crisis.
Meanwhile, the U.S. Federal Reserve has also been hinting at potential rate cuts. Last week, New York Federal Reserve President John Williams suggested that a rate cut could be imminent if the recent slowdown in inflation persists. Federal Reserve Chairman Jerome Powell also noted that <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39779256/powell-praises-latest-inflation-progress-hints-at-imminent-rate-cuts-warns-hes-ve">recent inflation data</a> has bolstered confidence in achieving the Fed's 2% inflation target.
Furthermore, Federal Reserve Governor Lisa Cook emphasized that the central bank is prepared to act swiftly if the <a href="https://www.benzinga.com/news/24/07/39721845/federal-reserves-lisa-cook-foresees-swift-response-to-unemployment-surge-following-jerome-powells-te">unemployment rate surges</a>, indicating a responsive approach to economic changes.
The upcoming FOMC meeting, scheduled for Jul. 31, is just six days away. According to the CME FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, nearly 7% of traders believe the target rate probabilities will be between 5% and 5.25%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Economics

Federal Reserve

BABA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

China's Central Bank Surprises Markets With Second Lending Operation This Week: Fed Likely To Hold Rates Steady At July FOMC

Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) reported quarterly earnings of $2.54 per share. This is a 31.9 percent decrease over earnings of $3.73 per share from the same period last year. The company reported $91.53 billion in sales this quarter. This is a 14.63 percent decrease over sales of $107.21 billion the same period last year.

Stellantis H1 EPS $2.54 Down From $3.73 YoY, Sales $91.53B Down From $107.21B YoY

<ul>
<li>Ipsen secures ex-U.S. regulatory and commercial rights to tovorafenib for most common childhood brain tumor, pediatric low-grade glioma (pLGG), and any future indications</li>
<li>OJEMDA&trade; (tovorafenib) is the first FDA-approved treatment for relapsed or refractory pLGG harboring a BRAF fusion or rearrangement, or V600 mutation, following the pivotal Phase II trial, FIREFLY-1</li>
<li>Day One receives approximately&nbsp;$111 million&nbsp;upfront in cash and equity investment with up to approximately&nbsp;$350 million&nbsp;in milestone payments and double-digit tiered royalties</li>
<li>Ongoing Phase III trial, FIREFLY-2, is evaluating tovorafenib as a monotherapy for newly diagnosed children and young adults with RAF-altered low-grade glioma requiring first-line systemic therapy</li>
</ul>

DAWN

IPSEY

Ipsen And Day One Enter Ex-U.S. Licensing Deal For Pediatric Brain Cancer Drug Tovorafenib

<ul>
<li>Enrollment acceleration drives earlier-than-anticipated data availability for this potentially best-in-class IBD treatment</li>
<li>Topline results for both UC and CD now anticipated in&nbsp;Q4&nbsp;2024</li>
<li>Teva and Sanofi are collaborating to co-develop and co-commercialize duvakitug (anti-TL1A) for moderate-to-severe ulcerative colitis (UC) and Crohn&#39;s disease (CD) patients</li>
</ul>

TEVA

Teva And Sanofi Fast-Track Anti-TL1A Phase 2b Trial For Inflammatory Bowel Disease

2024 business EPS guidance upgraded &bull; 2024 business EPS(1) to be stable at CER(2), an upgrade from a low single-digit percentage decrease previously, underpinned by accelerated delivery of Sanofi&rsquo;s pipeline-driven transformation. Applying the average July 2024 exchange rates, the currency impact on 2024 business EPS is c.-5.5% to -6.5%.

Sanofi Upgrades 2024 Business EPS Guidance, Now Expects It To Be Stable At CER From A Prior Forecast Of A Slight Decrease, With A Currency Impact Of -5.5% To -6.5%

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.86 by 8.26 percent. This is a 2 percent decrease over earnings of $0.95 per share from the same period last year. The company reported quarterly sales of $11.568 billion which beat the analyst consensus estimate of $11.366 billion by 1.78 percent. This is a 6.52 percent increase over sales of $10.860 billion the same period last year.

Earnings Beats

Sanofi Q2 2024 Adj EPS $0.93 Beats $0.86 Estimate, Sales $11.568B Beat $11.366B Estimate

Dassault Systemes (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DASTY#OTC">DASTY</a>) reported quarterly earnings of €0.30 per share which met the analyst consensus estimate. This is a 7.14 percent increase over earnings of €0.28 per share from the same period last year. The company reported quarterly sales of €1.496 billion which missed the analyst consensus estimate of €1.511 billion by 1.00 percent. This is a 3.24 percent increase over sales of €1.449 billion the same period last year.

Earnings Misses

DASTY

Dassault Systemes Q2 2024 Adj. EPS €0.30, Inline, Sales €1.496B Miss €1.511B Estimate

FINANCIAL&nbsp;GUIDANCE
Based on its current operating plans, argenx expects its combined research and development and selling, general and administrative expenses in 2024 to be less than&nbsp;$2 billion. argenx updated its cash burn&nbsp;guidance&nbsp;and now expects to utilize less than&nbsp;$500 million&nbsp;of net cash1&nbsp;in 2024 on anticipated operating expenses as well as working capital and capital expenditures.

ARGX

For 2024 argenx Expects To Spend Less Than $2B On Expenses And Under $500M In Net Cash For Operations

Ava Kris Tyson, co-host of the content creator, Jimmy Donaldson, popularly known by his YouTube channel name,&nbsp;MrBeast, has stepped down in the wake of grooming allegations. The YouTuber has now broken silence on this controversy.
What Happened: Tyson, a 28-year-old YouTuber with a following of more than 22,000 subscribers on her YouTube&nbsp;channel, was accused of sending&nbsp;inappropriate messages to&nbsp;a minor when she was&nbsp;20.
Tyson has strongly denied these allegations, saying, &#8220;I never groomed anyone.&#8221; She has also decided to &#8220;permanently step away from all&nbsp;things MrBeast and social media&nbsp;to focus on my family&nbsp;and mental health.&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39927380/nvidia-tsmc-rival-texas-instruments-shares-surge-in-pre-market-after-beating-q2-estimates?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia, TSMC-Rival Texas Instruments Shares Surge In Pre-Market After Beating Q2 Estimates</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">I want to add, I never groomed anyone. The person who gets brought up in these accusations <a href="https://twitter.com/LavaGS?ref_src=twsrc%5Etfw">@LavaGS</a> has vocally supported that they are false.
&mdash; Ava Kris Tyson (@kristyson_) <a href="https://twitter.com/kristyson_/status/1815880968085106901?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The alleged victim, whose name was shared online, has also come forward to defend Tyson, stating: &#8220;These videos are massive lies and twisting the truth.&#8221;
<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">These videos are massive lies and twisting the truth. Ava never did anything wrong and just made a few edgy jokes. I was never exploited or taken advantage of. Can you do me a favor and comment on these videos and tell them to stop spreading lies. This situation takes away… <a href="https://t.co/FID7uBlc6h">pic.twitter.com/FID7uBlc6h</a>
&mdash; Lava (@LavaGS) <a href="https://twitter.com/LavaGS/status/1815429514614501500?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Wednesday, MrBeast also took to X, formerly Twitter, and said, &#8220;I've seen enough online and taken immediate action to remove Ava from the company, my channel, and any association with MrBeast. I do not condone or support any of the inappropriate actions.&#8221;
<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">Over the last few days, I've become aware of the serious allegations of Ava Tyson&#39;s behavior online and I am disgusted and opposed to such unacceptable acts. During that time, I have been focused on hiring an independent third party to conduct a thorough investigation to ensure…
&mdash; MrBeast (@MrBeast) <a href="https://twitter.com/MrBeast/status/1816299504674464113?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The allegations against Tyson came to light last month through videos posted by other YouTubers. Her popularity surged after appearing&nbsp;alongside MrBeast on his channel,&nbsp;which has a <a href="https://www.benzinga.com/news/24/06/39127424/wow-congrats-say-elon-musk-as-mrbeast-topples-t-series-as-most-subscribed-youtube-channel-finally-av">staggering subscriber base</a> of more than 305 million.
Last month, MrBeast&#8217;s main YouTube channel became the most subscribed channel on the platform. To celebrate the record, the YouTuber in July <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">released a new video featuring</a> 50 content creators competing for a $1 million prize.
Photo Courtesy: Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39929189/elon-musk-agrees-with-mark-zuckerberg-on-apple-tesla-ceo-wonders-how-many-enemies-he-can-make-and-su?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees With Mark Zuckerberg On Apple, Tesla CEO Wonders How Many Enemies He Can Make And Survive</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

MrBeast Co-Host Ava Tyson Resigns Amid Grooming Controversy,  Popular YouTuber Says, 'I Am Disgusted And Opposed To Such Unacceptable Acts'

CrowdStrike Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), the cybersecurity firm behind last week&#8217;s global computer crash, is reportedly offering a $10 Uber Eats gift card to its partners as an apology.
What Happened: CrowdStrike sent out emails to its partners offering the gift card as a token of apology for the inconvenience caused by the Jul. 19 incident. The email was sent from the company&#8217;s Chief Business Officer, Daniel Bernard, <a href="https://techcrunch.com/2024/07/24/crowdstrike-offers-a-10-apology-gift-card-to-say-sorry-for-outage/">reported</a> TechCrunch on Wednesday.
However, some partners reported an error message when they tried to redeem the gift card, stating that the voucher had been canceled. CrowdStrike spokesperson, Kevin Benacci, confirmed according to the report, that the company had sent the gift cards. &#8220;Uber flagged it as fraud because of high usage rates,&#8221; Benacci explained.
Last Friday, CrowdStrike released a faulty update that rendered around 8.5 million <a href="https://www.benzinga.com/news/24/07/39930356/crowdstrike-blames-error-with-test-software-for-taking-down-8-5m-windows-computers-globally-says-a-n">Windows devices unusable</a>, causing delays at airports and hospitals, and paralyzing businesses worldwide.
See Also: <a href="https://www.benzinga.com/news/24/07/39931967/nvidia-mcdonalds-and-2-other-stocks-insiders-are-selling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia, McDonald&#8217;s And 2 Other Stocks Insiders Are Selling</a>
CEO George Kurtz and Chief Security Officer Shawn Henry have both publicly apologized for the incident. &#8220;Nothing is more important to me than the trust and confidence that our customers and partners have put into CrowdStrike,&#8221; Kurtz stated.
Why It Matters: The global IT outage was a result of a bug in CrowdStrike&#8217;s safety mechanism, as the company admitted in a <a href="https://www.benzinga.com/news/24/07/39942367/crowdstrike-admits-bug-caused-massive-global-it-outages">statement</a>. The faulty update led to widespread disruptions, affecting Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows-powered systems worldwide. This incident had significant impacts on crucial operations in airlines, banking, and stock exchanges across multiple countries.
The CrowdStrike outage also had severe financial repercussions for companies like Delta Air Lines Inc., which faced a $500M financial hit due to thousands of flight cancellations. The incident also <a href="https://www.benzinga.com/government/24/07/39936988/delta-air-lines-faces-500m-financial-hit-as-it-outage-causes-thousands-of-cancellations">triggered a federal investigation</a> into the airline's response.
In a recent statement, CrowdStrike disclosed that the issue originated from the Falcon platform&#8217;s Rapid Response Content, which inadvertently caused a system crash due to an <a href="https://www.benzinga.com/news/24/07/39930356/crowdstrike-blames-error-with-test-software-for-taking-down-8-5m-windows-computers-globally-says-a-n">undetected error in the update</a>.
Despite CrowdStrike's recent challenges, Cathie Wood-led Ark Invest bought a total of 20,219 <a href="https://www.benzinga.com/markets/equities/24/07/39897409/cathie-woods-ark-invest-snaps-up-5-3m-in-beaten-down-crowdstrike-shares-dumps-3-7m-worth-of-tesl">shares of CrowdStrike</a>, valued at approximately $5.34 million.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39877645/mohamed-el-erian-on-bidens-withdrawal-from-presidential-race-there-is-genuine-uncer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mohamed El-Erian On Biden&#8217;s Withdrawal From Presidential Race: &#8216;There Is Genuine Uncertainty On How Markets Will &#8211; And Should- React To The News&#8217;</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Markets

CRWD

MSFT

CrowdStrike Offers $10 Uber Eats Gift Card As Apology For Its Outage That Took Down 8.5M Windows Computers Globally: Some Users Report Their Vouchers Being Canceled

argenx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $(0.98) by 145.92 percent. This is a 126.63 percent increase over losses of $(1.69) per share from the same period last year. The company reported quarterly sales of $489.428 million which beat the analyst consensus estimate of $439.217 million by 11.43 percent. This is a 74.15 percent increase over sales of $281.035 million the same period last year.

argenx Q2 2024 GAAP EPS $0.45 Beats $(0.98) Estimate, Sales $489.428M Beat $439.217M Estimate

Business&nbsp;Outlook
ST&#39;s&nbsp;guidance, at the mid-point, for the 2024&nbsp;third quarter&nbsp;is:
<ul>
<li>Net revenues are expected to be&nbsp;$3.25 billion, an increase of&nbsp;0.6%&nbsp;sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of&nbsp;38%, plus or minus 200 basis points.</li>
<li>This&nbsp;outlook&nbsp;is based on an assumed effective currency exchange rate of approximately&nbsp;$1.07&nbsp;= &euro;1.00 for the 2024&nbsp;third quarter&nbsp;and includes the impact of existing hedging contracts.</li>
<li>The&nbsp;third quarter&nbsp;will close on September 28, 2024.</li>
</ul>

STMicroelectronics Expects Q3 Net Revenues To Be $3.25B (Vs. Consensus Of $3.577B); Sees Gross Margin Of 38%, Plus Or Minus 200 Bps

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.38 per share which missed the analyst consensus estimate of $0.44 by 13.64 percent. This is a 64.15 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $3.232 billion which beat the analyst consensus estimate of $3.202 billion by 0.94 percent. This is a 25.29 percent decrease over sales of $4.326 billion the same period last year.

STMicroelectronics Q2 2024 GAAP EPS $0.38 Misses $0.44 Estimate, Sales $3.232B Beat $3.202B Estimate

Cat-themed meme coin, cat in a dogs world (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MEW</a>) dwarfed the broader cryptocurrency market with massive gains over the past week.
What Happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin swelled 81% in the last week, emerging as the market's best performer. The asset was swiftly approaching its peak of $0.00915, hit during the market's upswing in March.
The rally defied the broader dip in the memecoin market, with Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>). It even outclassed market heavyweight Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) which has retraced this week.
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/24/07/39922885/peter-schiff-polls-hodlers-asks-if-theyll-sell-if-bitcoin-slips-below-15k-heres-how-they-r">Peter Schiff Polls HODLers, Asks If They&#8217;ll Sell If Bitcoin Slips Below $15K &#8211; Here&#8217;s How They Responded</a>
Meanwhile, SOL, the native currency of the Solana blockchain, is also up 7% over the week. With the listing of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs, the focus has shifted to Solana, with $30+ billion global investment firm, Franklin Templeton, projecting the asset's capabilities.
Why It Matters: Cryptocurrency influencer Gerhard, who runs the Bitcoin Strategy Youtube Channel, highlighted that MEW's ongoing rally is driven by the influx of first-time traders, indicating a growing investor base.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Why is Cat In A Dogs World up? &#x26a0; Mew Crypto Token Analysis" width="500" height="281" src="https://www.youtube.com/embed/1BLRvm5GlcM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Moreover, the trader explained that small retail investors generated the bulk of MEW's trading volume, i.e., wallets with less than $1000 worth of the token, citing on-chain data.
While the rally might seem impressive, it's worth noting that MEW slumped after hitting its all-time high in March.
Price Action: At the time of writing, MEW was trading at $0.00715, following a drop of 8% in the last 24 hours, according to CoinMarketCap.
<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;
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Cat In A Dogs World Outsmarts Dogecoin, Shiba Inu, Emerges As Top Coin For The Week: What's Going On?

The political world is abuzz with reactions to Joe Biden&#8217;s decision to not seek re-election. The <a href="https://www.benzinga.com/news/24/07/39947087/biden-says-history-is-in-your-hands-in-oval-office-speech-the-best-way-forward-is-to-pass-the-torch">former President&#8217;s announcement</a> has sparked a flurry of responses from key figures.
What Happened: Biden, in a speech from the Oval Office, revealed his choice to not run for re-election, citing the need to pass the torch to a new generation for the nation&#8217;s unity. This decision, a first for an incumbent president since 1968, came after mounting pressure from Democrats and <a href="https://www.benzinga.com/news/24/07/39947087/biden-says-history-is-in-your-hands-in-oval-office-speech-the-best-way-forward-is-to-pass-the-torch">internal polls</a> indicating a potential loss to Republican Donald Trump in the upcoming election.
Trump, in a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/112844294440574656">post</a>, criticized Biden&#8217;s speech, calling it &#8220;barely understandable&#8221; and &#8220;sooo bad.&#8221; 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="525" height="156" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24234450/image-42.png" alt="" class="wp-image-455596" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24234450/image-42.png 525w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24234450/image-42-300x89.png 300w" sizes="(max-width: 525px) 100vw, 525px" /></figure>
Former President Barack Obama expressed his support on X, praising Biden for his lifetime of service and dedication to the American people.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"The sacred cause of this country is larger than any one of us."   Joe Biden has stayed true to these words again and again over a lifetime of service to the American people. Thank you, <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>.
&mdash; Barack Obama (@BarackObama) <a href="https://twitter.com/BarackObama/status/1816292503370531269?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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House Speaker Nancy Pelosi (D-Calif.) lauded Biden&#8217;s leadership, describing him as &#8220;one of America&#8217;s most consequential presidents&#8221; and praising his &#8220;wisdom and magnificent leadership.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tonight, we saw President Joe Biden – one of America's most consequential presidents – show that he is not only on the right side of history, but on the right side of the future.  America has been blessed by the wisdom and magnificent leadership of President Joe Biden as he has…
&mdash; Nancy Pelosi (@SpeakerPelosi) <a href="https://twitter.com/SpeakerPelosi/status/1816279451052703789?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/39924772/democratic-mega-donors-predict-kamala-harris-to-pick-vp-among-these-3-lawmakers-as-presidential-race?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Democratic Mega Donors Predict Kamala Harris To Pick VP Among These 3 Lawmakers As Presidential Race Against Trump Heats Up</a>
Senate Majority Leader Chuck Schumer (D-N.Y.) thanked Biden for his &#8220;act of patriotism&#8221; and his role in making America &#8220;stronger and more prosperous.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you, President Biden. Your decision is a great act of patriotism for this country you love so much. America is stronger and more prosperous because of your leadership. And we have so much more work to do to keep America moving forward with hope and opportunity for all. <a href="https://t.co/5OS3zhwrC0">https://t.co/5OS3zhwrC0</a>
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1816272653566530027?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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Vice President Kamala Harris expressed her gratitude for Biden&#8217;s &#8220;profound compassion&#8221; for the American people.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President <a href="https://twitter.com/JoeBiden?ref_src=twsrc%5Etfw">@JoeBiden</a> has profound compassion for the people of our country. We are all deeply, deeply grateful for his service to our nation. Thank you, Mr. President. <a href="https://t.co/JSfI2npB0E">https://t.co/JSfI2npB0E</a>
&mdash; Kamala Harris (@KamalaHarris) <a href="https://twitter.com/KamalaHarris/status/1816316228853530907?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
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Why It Matters: Harris has emerged as the frontrunner for the Democratic nomination, receiving endorsements from prominent figures like Pelosi. Her endorsement came just days before Biden&#8217;s announcement, signaling a <a href="https://www.benzinga.com/general/politics/24/07/39892716/nancy-pelosi-endorses-kamala-harris-for-president-full-confidence-that-she-will-lead-us-to-victo">shift in the party&#8217;s strategy</a>. Harris has already begun her campaign, positioning herself against Trump and outlining her liberal priorities, including expanding abortion access and addressing gun violence.
In her first campaign rally, Harris took a <a href="https://www.benzinga.com/news/24/07/39921743/donald-trump-wants-to-take-our-country-backward-says-kamala-harris-in-first-campaign-speech-poll-sho">narrow lead over Trump</a>, according to a Reuters/Ipsos poll. She criticized Trump&#8217;s record and highlighted her background as a former prosecutor, aiming to draw a stark contrast between their visions for America. This development sets the stage for a closely contested election, with recent polls showing a tight race between Harris and Trump.
With Biden stepping down, 65% of Democrats believe the party&#8217;s <a href="https://www.benzinga.com/general/politics/24/07/39946360/trump-vs-harris-2024-election-candidates-tied-in-new-poll-65-of-democrats-say-biden-stepping-dow">chances of winning have increased</a>, according to a new poll. This sentiment reflects the party&#8217;s confidence in Harris&#8217;s ability to lead them to victory in November.
Read Next: 
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<li><a href="https://www.benzinga.com/general/politics/24/07/39915259/elon-musk-once-said-that-second-term-trump-would-be-too-old-to-be-chief-executive-of-anything?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Once Said That Second-Term Trump Would Be &#8216;Too Old To Be Chief Executive Of Anything&#8217;</a></li>
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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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Politics

Trump Slams Biden's Oval Office Speech As Bad And 'Barely Understandable' — Harris, Pelosi, Obama Thankful For President's Leadership

Anthony Scaramucci, the former White House Communications Director, voiced his support for Vice President and presumotive Democratic presidential nominee Kamala Harris, specifically expressing anticipation for her future policies on cryptocurrency.
What Happened: On Wednesday, Scaramucci praised Harris and her team in an X post, stating, &#8220;Kamala Harris is capable and has a great team. I like where we're going and look forward to seeing her policies on crypto.&#8221;
The comment followed his interview with Bloomberg TV where he expressed confidence that the Harris administration will undertake the right regulatory measures for the cryptocurrency industry.
&#8220;We have to give her some time to get her policies. I think it will be a dramatic new generation reset for the Democrats,&#8221; the CEO of&nbsp;SkyBridge Capital said.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39922826/elon-musk-agrees-with-dogedesigner-funding-for-trump-supporting-super-pac-is-far-below-45m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees with DogeDesigner: Funding For Trump-Supporting Super PAC Is &#8216;Far Below&#8217; $45M A Month So Far</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> is capable and has a great team. I like where we're going and look forward to seeing her policies on crypto. <a href="https://t.co/b2GSsvK9Pc">https://t.co/b2GSsvK9Pc</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1816266850650435659?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Scaramucci&#8217;s support for Harris is noteworthy and stated that the<a href="https://www.benzinga.com/24/07/39901896/anthony-scaramucci-says-kamala-harris-will-have-historic-win-against-trump-if-the-vice-president-doe"> Vice President would likely be chosen as the Democratic Party&#8217;s pick </a>to take on Republican challenger Donald Trump.
Scaramucci&#8217;s confidence in Harris&#8217; pro-cryptocurrency policies comes <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o">despite her snub </a>of the Bitcoin 2024 conference. The marquee conference already has a star-studded line up, including Trump and independent presidential candidate Robert F. Kennedy Jr.
Interestingly, just three weeks ago, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39601856/anthony-scaramucci-predicts-major-crypto-gains-if-biden-wins-election">Scaramucci forecasted major gains</a> for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) if President Joe Biden wins a second term.
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39947955/bitcoin-holds-up-ethereum-dogecoin-fall-amid-stock-market-crash-analyst-predicts-4k-for-et">Bitcoin Holds Up, Ethereum, Dogecoin Fall Amid Stock Market Crash: Analyst Predicts $4K For ETH Over Next Two Weeks</a></li>
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Trump-Era White House Official Anthony Scaramucci Says Kamala Harris Is Capable And Has A Great Team: 'Look Forward To Seeing Her Policies On Crypto'

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