Rain Forest International Stock (OTC: RFII)

Latest news for Rain Forest International (OTC:RFII) Stock

Rain Forest International Inc is a United States company engaged in marketing and selling a line of nutraceutical products based on Grape Seed extract products which are grown and cultivated in the Peruvian Rain Forest.

RAIN FOREST INTL INC by Rain Forest International, Inc.

Rain Forest International Inc

News

Tech

TSLA

Tesla Recalling ~1.85M U.S. Vehicles Due To Unlatched Hood Risk; Over-The-Air Update Released

Raymond James analyst Daniel Tamayo downgrades Merchants Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIN#NASDAQ">MBIN</a>) from Strong Buy to Outperform and raises the price target from $55 to $58.

Downgrades

Price Target

Analyst Ratings

MBIN

Raymond James Downgrades Merchants Bancorp to Outperform, Raises Price Target to $58

Piper Sandler analyst Mark Fitzgibbon downgrades Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) from Overweight to Neutral and raises the price target from $15 to $16.5.

FFIC

Piper Sandler Downgrades Flushing Financial to Neutral, Raises Price Target to $16.5

Macro Economic Events

Econ #s

Economics

Eurozone Gross Domestic Product (YoY) Preliminary For Q2 0.6% Vs. 0.6% Est.; 0.4% Prior

Keefe, Bruyette &amp; Woods analyst Meyer Shields upgrades Aon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) from Underperform to Outperform and raises the price target from $313 to $380.

Upgrades

Keefe, Bruyette & Woods Upgrades Aon to Outperform, Raises Price Target to $380

Eurozone Gross Domestic Product (QoQ) Preliminary For Q2 0.3% Vs. 0.2% Est.; 0.3% Prior

&quot;Although preseason orders came in somewhat softer than expected, we are maintaining our 2024&nbsp;guidance&nbsp;ranges based on strong Solutions performance and successful realization of savings early into our 2024 Cost Savings Program,&quot; explained Sarah Lauber, Executive Vice President and CFO.&nbsp;
&quot;The Solutions segment produced strong year-over-year improvements in the first half of the year and expects the second half of 2024 to be similar to the same period in 2023. The Solutions team maintains a strong backlog and solid demand, and remains on track to deliver improved full year results for the third year in a row.&quot;

Guidance

PLOW

Reported Earlier, Douglas Dynamics Maintains 2024 Guidance Ranges For Net Sales To Be $600M - $640M (Est $613.73M), Adjusted EPS To Be $1.20 - $1.70 (Est $1.42)

BMO Capital analyst Kelly Bania upgrades Sprouts Farmers Market (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) from Underperform to Market Perform and raises the price target from $40 to $102.

BMO Capital Upgrades Sprouts Farmers Market to Market Perform, Raises Price Target to $102

Baird analyst Andrew Wittmann upgrades BrightView Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) from Neutral to Outperform and raises the price target from $13 to $17.

Baird Upgrades BrightView Hldgs to Outperform, Raises Price Target to $17

In a recent development, Seth Klarman&#8217;s Baupost Group has reportedly decided against investing in the forthcoming U.S. closed-end fund by Bill Ackman.
What Happened: The Boston-based hedge fund, Baupost Group, has declined to invest in the upcoming fund, according to people familiar with the matter. Ackman had previously identified Baupost as a potential investor for Pershing Square&#8217;s management company in a letter to investors, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-29/baupost-opts-out-of-ipo-for-bill-ackman-s-pershing-square-fund?srnd=homepage-americas">reported</a> on Tuesday.
The initial public offering (IPO) for the fund was expected to raise between $2.5 billion to $4 billion, a significant drop from the initial projection of $25 billion. Despite Ackman&#8217;s assertion that Baupost would contribute $150 million to the IPO, the hedge fund has opted out of the investment.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001633/scaramucci-i-agree-with-every-single-thing-trump-has-said-on-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci: &#8216;I Agree With Every Single Thing&#8217; Trump Has Said On Bitcoin</a>
Other potential investors, such as Putnam Investments and the Teacher Retirement System of Texas, have shown interest in investing $40 million and $60 million respectively. The IPO was initially scheduled to price on Monday, but Pershing Square is currently waiting for approval from the Securities and Exchange Commission after updating the fund&#8217;s regulatory filing.
Pershing Square and Baupost Group have yet to respond to Benzinga&#8217;s queries.
Why It Matters: This development follows a recent <a href="https://www.benzinga.com/news/24/07/39975768/bill-ackmans-us-fund-ipo-target-slashed-by-90-as-pershing-square-specifically-disclaims-ceos-comment">reduction in the IPO target</a> for Ackman&#8217;s U.S. investment fund, Pershing Square USA, by as much as 90%. The initial target of $25 billion was significantly reduced, with Ackman stating that he anticipates raising between $2.5 billion and $4 billion.
The <a href="https://www.benzinga.com/news/24/07/39997035/bill-ackmans-warren-buffett-inspired-strategy-hits-a-snag-pershing-square-usa-delays-ipo-indefinitel">IPO was also delayed</a> indefinitely, as confirmed by the New York Stock Exchange (NYSE). The NYSE announced that the listing of Pershing Square USA Ltd. has been postponed, with a new date yet to be disclosed. Pershing Square refrained from commenting further but clarified that the IPO is still proceeding, with the pricing date to be announced later.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40003571/peter-schiff-confronts-donald-trump-and-michael-saylors-never-sell-your-bitcoin-strategy-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Confronts Donald Trump And Michael Saylor&#8217;s &#8216;Never Sell Your Bitcoin&#8217; Strategy: &#8216;What&#8217;s The Point Of Owning It?&#8217;</a></li>
</ul>
Image Via Shuttestock
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>

IPOs

Markets

General

As Bill Ackman's Pershing Square Struggles To Reach IPO Stage, Major Hedge Fund Opts Out Investing In Upcoming Fund: Report

A U.S. appeals court has put a stop to President Joe Biden&#8216;s administration&#8217;s new rule requiring airlines to <a href="https://www.benzinga.com/markets/equities/24/05/38797099/airlines-challenge-biden-administration-over-fee-disclosure-rule-report">disclose fees upfront</a>. The rule was designed to help consumers avoid unnecessary or unexpected charges. The court&#8217;s decision is seen as a significant setback for the administration.
What Happened: The U.S. Transportation Department&#8217;s rule, issued in April, mandated airlines and ticket agents to reveal service fees alongside airfares. This was part of a broader effort to address the issue of unexpected fees over the past three years, Reuters reported.
However, a three-judge panel of the Fifth U.S. Circuit Court of Appeals has temporarily blocked the rule, stating that it &#8220;likely exceeds DOT&#8217;s authority and will irreparably harm airlines.&#8221; The case will be scheduled for a hearing at the next available oral argument session.
Several airlines, including American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), and Alaska Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), along with trade group Airlines for America and the International Air Transport Association, had filed a lawsuit in May to block the rule.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a>
The DOT had set an Oct. 30 deadline for carriers to disclose fee data to third-party ticket agents and an Apr. 30, 2025, deadline for their websites. The industry argued that this would require them to spend millions to re-engineer their websites, diverting resources from other projects.
Why It Matters: The DOT&#8217;s rule was a part of the administration&#8217;s broader efforts to enhance transparency for consumers and prevent unexpected charges. The rule was met with strong opposition from the airline industry, which argued that it would cause significant financial strain.
This decision comes after a series of confrontations between the Biden administration and the airline industry. In May, major U.S. airlines <a href="https://www.benzinga.com/markets/equities/24/05/38797099/airlines-challenge-biden-administration-over-fee-disclosure-rule-report">initiated legal action</a> against the DOT&#8217;s rule. The airlines argued that revealing extra fees before ticket purchase would &#8220;greatly confuse consumers&#8221; and &#8220;complicate the buying process.&#8221;
These developments have taken place amid a challenging period for the airline industry. Airlines have been grappling with the financial strain of the COVID-19 pandemic, and more recently, the <a href="https://www.benzinga.com/news/24/03/37886744/air-travel-to-get-expensive-as-airlines-prepare-to-pass-5t-decarbonization-expenses-to-passengers-re">$5 trillion expense of decarbonizing air travel</a>. To offset these costs, airlines have been <a href="https://www.benzinga.com/news/24/03/37886744/air-travel-to-get-expensive-as-airlines-prepare-to-pass-5t-decarbonization-expenses-to-passengers-re">raising ticket prices</a>, and some, like American Airlines, have even <a href="https://www.benzinga.com/news/24/02/37231387/american-airlines-hikes-bag-fees-limits-miles-for-travel-agency-bookings-what-flyers-need-to-know">increased their baggage fees</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40004774/dow-jumps-over-650-points-following-inflation-data-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 650 Points Following Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</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

Legal

JBLU

US Appeals Court Halts Biden's Airline Fee Disclosure Rule, Saying It Will 'Irreparably Harm' Carriers

To attract creators and integrate AI into its consumer products, Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has introduced a feature that allows users to create <a href="https://www.benzinga.com/markets/equities/23/12/36339633/zuckerbergs-year-of-efficiency-drives-meta-stock-to-best-year-ever-with-eye-popping-190-surge-wh">custom AI chatbots for their profiles</a>.
What Happened: The new feature, known as AI Studio, will allow creators with professional accounts to develop a personalized AI chatbot. 
This chatbot will serve as an &#8220;extension of themselves,&#8221; capable of answering&nbsp;common questions from fans or&nbsp;followers. Users can guide their bot on the types of questions to respond to and topics to avoid. 
&#8220;Built with Llama 3.1, AI Studio lets anyone create and discover AI characters and allows creators to build an AI as an extension of themselves to reach more fans,&#8221; the tech giant said in a blog post on Monday.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40000541/apples-market-share-drops-in-china-a18-chip-integration-to-bring-ai-features-to-iphone-16-and-more-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse</a>
The wider Instagram user base will have the chance to create themed chatbots for their profiles. It can teach users how to cook or write captions for social media posts. These features are expected to be rolled out more extensively in the coming weeks.
Meta CEO Mark Zuckerberg who appeared&nbsp;at the ACM SIGGRAPH conference&nbsp;in Denver on Monday,&nbsp;alongside Nvidia Corp. CEO Jensen&nbsp;Huang, also spoke about AI Studio. 
He said that they don&#8217;t believe there will be just one AI model dominating the market, that&#8217;s why Meta aims to empower users to create their agents. These agents would be capable of managing content, interacting with customers, handling sales, and providing customer support.
He also gave an example stating creators and their fans are restricted by time constraints, so the next-best things are these AI chatbots that are trained on a creator&#8217;s persona. &#8220;It&#8217;s a very creative endeavor almost like a piece of art or content that you&#8217;re putting out there,&#8221; Zuckerberg said.
Nvidia CEO Huang seemed impressed by this development and said, &#8220;Every single restaurant, every single website will probably in the future have these AIs.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="AI and The Next Computing Platforms With Jensen Huang and Mark Zuckerberg" width="500" height="281" src="https://www.youtube.com/embed/w-cmMcMZoZ4?start=1&#038;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>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: At the SIGGRAPH 2024 event, Zuckerberg and Huang also had spirited discussions about many other topics. For instance, during the discussion, Zuckerberg expressed his <a href="https://www.benzinga.com/news/24/07/40027527/mark-zuckerberg-gets-triggered-by-closed-ai-models-at-siggraph-2024-drops-f-bomb-while-talking-with">frustration with closed platforms</a>.
&#8220;There have just been too many things I've tried to build and told ‘nah, you can't really build that' by the platform provider, that at some level I'm just like, ‘Nah, f&#x2A;&#x2A;&#x2A; that.'&#8221; he stated.
After he dropped the f-bomb, Huang was quick to tease the Meta CEO and toward the end of this fireside chat, the two tech moguls also swapped their jackets.
Meta has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39957090/meta-platforms-ai-ambitions-soar-with-llama-3-1-an-inflection-point-in-the-industry">heavily investing in AI in recent years</a>, with Zuckerberg expressing his anticipation for the company to develop some of the world&#8217;s best chatbots. Meta&nbsp;already <a href="https://www.benzinga.com/news/24/04/38333164/meta-ai-chatbot-poses-as-parent-in-nyc-facebook-group-claims-to-have-disabled-child-in-school-report">offers its own AI&nbsp;chatbot</a>, Meta AI, within Instagram, WhatsApp, and Facebook.
Check out more of Benzinga's Future Of Consumer Tech by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39877062/nvidia-reportedly-developing-a-new-version-of-its-flagship-ai-chip-for-chinese-market-amid-us-export?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Reportedly Developing A New Version Of Its Flagship AI Chip For Chinese Market Amid US Export Restrictions</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Meta

Social Media

Mark Zuckerberg Announces Meta's AI Studio Roll Out At SIGGRAPH 2024: Now Create Custom Chatbots For Your Profiles

Warren Buffett-led Berkshire Hathaway, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is shaving off its ownership interest in Bank of America Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), one of its core holdings, and on Monday the <a href="https://www.benzinga.com/markets/equities/24/05/38965414/5-stocks-that-warren-buffetts-berkshire-hathaway-has-been-trimming">investment holding firm </a>disclosed the third sale for the month.
What Happened: In a filing with the SEC late Monday, Berkshire disclosed it sold 18.42 million BofA shares valued at about $767 million, calculated using the weighted average price of the three tranches of transactions it provided. Following the disposal, Berkshire is still left with a massive 961.65 million shares. The firm&#8217;s stake in the big bank now stands reduced to 12.49%.
The previously disclosed sales this month are as follows:
<ul>
<li>18.90 million shares valued at $802.49 million (disclosed on July 24)</li>
<li>33.89 million shares valued at $1.48 billion (disclosed on July 19)</li>
</ul>
 Cumulative sales of BofA shares by Berkshire for the month was 71.21 million or $3.24 billion in value terms.
The 13-F report filed by Berkshire in mid-May showed that the firm <a href="https://www.benzinga.com/markets/equities/24/05/38873913/warren-buffetts-berkshire-confirms-apple-sale-dumps-this-pc-maker-finally-reveals-mystery-stock-">maintained its stake its BofA stake, amounting to 1.03 million shares valued at $39.17 billion,</a> at the end of the March quarter.
See Also: <a href="https://www.benzinga.com/money/best-financial-services-stocks">Best Financial Services Stocks</a>
Why It&#8217;s Important: BofA along with Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) and Chevron Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) make up the Buffett-led company&#8217;s core holding. In the 10-Q report for the first quarter, Berkshire said about 75% of the aggregate fair value of its equity investments was concentrated in these five companies, with the proportion at $34.5 billion in American Express, $135.4 billion in Apple, $39.2 billion in BofA, $24.5 billion in Coca-Cola, and $19.4 billion in Chevron.
The selling has come at a time, the financial stocks are gaining ground on expectations that the Federal Reserve will begin to cut rates. This will likely benefit a big bank like BofA by boosting net interest margin and also trading revenue, given expectations that the financial markets will rally further in the aftermath of the rate cuts.
When Berkshire trimmed its stake in Apple, its biggest holding, in the first quarter, Buffett went on to reassure investors that the tech giant will continue to be its big bet. He attributed the move to the firm&#8217;s desire to hold more cash amid an uncertain climate and to raise cash to meet its federal tax obligations.
BofA shares were little changed at $41.09 in premarket trading on Tuesday, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a>
Read Next:
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<li><a href="https://www.benzinga.com/government/24/05/38630925/buffett-says-no-other-americans-would-have-had-to-pay-even-a-dime-in-federal-taxes-if-this-had-happe">Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened</a></li>
</ul>
Image via Shutterstock

Trading Ideas

AAPL

Warren Buffett's Berkshire Trims Position In Its Second Biggest Stock Holding By $3.2B This Month: What It Means For Investors?

Former President Donald Trump revealed that his wife, Melania Trump, was deeply affected by the recent <a href="https://www.benzinga.com/news/24/07/39761846/trump-left-bloodied-after-shots-fired-at-pennsylvania-rally-evacuated-by-secret-service">assassination attempt</a> on him. The former president also discussed his future debate plans and defended his vice-presidential pick.
What Happened: Trump disclosed that Melania was deeply affected by the recent assassination attempt on him. The former first lady was watching the rally live on TV when the shooting occurred, Trump <a href="https://www.foxnews.com/video/6359588637112?spark_wn=1#_intcmp=fnvpl_playlist_4_Trump:_I_did_absolutely_nothing_wrong">told</a> Fox News's Laura Ingraham in an interview airing Monday.
&#8220;She can't really even talk about it, which is okay, because that means she likes me, or she loves me,&#8221; Trump told Ingraham. &#8220;When I went down, she thought the worst had happened.&#8221;
Trump also shared his thoughts on the Secret Service&#8217;s handling of the situation, criticizing their coordination with local police but praising their bravery during the incident.
Trump also reiterated his campaign talking points, including his belief that Kamala Harris is a weak candidate and his intention to debate her. He also defended his vice-presidential pick, JD Vance, in response to past remarks where Vance mocked those without children as &#8220;cat ladies.&#8221;
See Also: <a href="https://www.benzinga.com/news/23/08/33746744/trumps-stress-levels-worry-democratic-strategist-dont-know-how-much-longer-he-can-live?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Stress Levels Worry Democratic Strategist: &#8216;Don&#8217;t Know How Much Longer He Can Live&#8230;&#8217;</a>
Why It Matters: Melania Trump&#8217;s reaction to the assassination attempt is significant given her recent reclusive behavior. In the event of a second Trump presidency, experts believe that Melania&#8217;s return to the East Wing is unlikely, given her history of doing as she pleases. 
Since leaving the White House in 2021, Melania has <a href="https://www.benzinga.com/news/24/06/39469860/in-case-of-trump-2-0-first-ladys-return-to-washington-unlikely-say-experts-melania-does-what-melania">maintained a low profile</a>, distancing herself from the political scene in Washington D.C.
The recent assassination attempt on Trump was carried out by Thomas Matthew Crooks, who had conducted internet searches about the attempted assassination of Slovakia's Prime Minister Robert Fico.
The FBI provided new details about the gunman's "careful planning" for the attack, but the <a href="https://www.benzinga.com/news/24/07/40026814/trump-shooter-researched-assassination-attempt-on-slovakias-prime-minister-fbi-provides-details-on-c">motive for the shooting remains unclear</a>, and no evidence linking other individuals to the attack has been found,
Trump&#8217;s criminal conviction has also been a source of distress for Melania. The former president expressed that his recent criminal conviction has been particularly <a href="https://www.benzinga.com/news/24/06/39150828/donald-trump-says-criminal-conviction-has-been-very-hard-on-melania-vows-for-revenge-in-upcoming-ele">challenging for his wife</a>. 
Trump, who was found guilty of falsifying business records to conceal hush-money payments to former porn star Stormy Daniels during the 2016 presidential election campaign, shared his thoughts on the matter in an interview.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/01/36877020/robert-f-kennedy-jr-doesnt-want-to-be-trumps-vice-president-pick-heres-why?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert F. Kennedy Jr. Doesn&#8217;t Want To Be Trump&#8217;s Vice President Pick, Here&#8217;s Why</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>

Politics

Trump Says Melania Was Traumatized Watching Him Being Shot, Fearing The 'Worst Had Happened:' 'She Can't Really Even Talk About It'

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/07/39956435/ford-will-focus-on-smaller-affordable-evs-even-if-trump-wins-presidential-elections-says-ceo-jim-far">has replaced</a> Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) as Morgan Stanley&#8217;s &#8220;Top pick&#8221; in the U.S. auto industry.
Analyst Ratings: Morgan Stanley has a price target of $310 for Tesla and $16 for Ford. This is an upside of nearly 34% from Tesla&#8217;s closing price on Monday, and nearly 45% for Ford, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
What Happened: Morgan Stanley said in a note on Monday that Tesla is cutting costs in the auto segment and also redeploying resources to other business segments as EV demand falls. 
Tesla will have more automakers looking to buy zero-emission vehicle credits from it as legacy players pull back on their EV plans and service revenue should grow as Tesla&#8217;s car population increases, the brokerage noted, while adding that margins derived from after sales and service are typically far higher than sale margins.
&#8220;We estimate Tesla may account for as much as 1/2 the credit sales in the market, supporting a 100% margin business for Tesla that may not be anticipated by the investment community at this time,&#8221; the note reads.
Morgan Stanley also sees potential for Tesla&#8217;s Energy business to be worth more than the electric vehicle business, particularly owing to severe storms and unusual global weather phenomena.
In the second quarter, Tesla marked <a href="https://www.benzinga.com/news/24/07/39953878/teslas-energy-and-storage-segment-doubles-revenue-in-q2-to-make-up-for-decline-in-car-sales">a growth in energy generation and storage revenue</a> as well as services and other revenue even as total automotive revenue fell 7% year-on-year. The company also made a revenue of $890 million by selling regulatory credit to other automakers who lagged on their emission requirements. 
Brokerage Concerns: The brokerage, however, warned that the near-term expectations around the company&#8217;s <a href="https://www.benzinga.com/topic/tesla-fsd">full self-driving (FSD) driver assistance technology</a> and robotaxi may be too high and that EV demand may continue to dwindle.
As per Morgan Stanley, the commercial opportunity of non-auto expressions of embodied artificial intelligence is likely far larger and faster adopted than that of autonomous cars. It is also &#8216;highly unlikely&#8217; that the company would be allowed to operate autonomous vehicles in China, its second-largest market, the brokerage noted.
&#8220;In our opinion, if Tesla (or any other US company) were to &#8216;solve&#8217; the robotaxi problem, we believe it would be highly unlikely that the company would be allowed to offer such technology within the PRC. The dual purpose element of embodied AI carries obvious national security sensitivities,&#8221; the brokerage said.
Tesla is currently gearing up to unveil its dedicated robotaxi product on the <a href="https://www.benzinga.com/news/24/07/39929718/tesla-robotaxi-unveiling-set-for-oct-10-here-are-the-updates-from-company-ceo-elon-musk-on-its-upcom">10th of October</a>.
Price Action: Tesla shares closed up 5.6% on Monday at $232.10 and Ford shares closed down 1.6% at $11.01. While Tesla stock is down 6.6% year-to-date, Ford is down 9.5%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/startups/24/07/40026075/boeing-wins-space-mission-contracts-owing-to-its-armies-of-lobbyists-says-spacex-ceo-elon-musk-amid" target="_blank" rel="noreferrer noopener">Boeing Wins Space Mission Contracts Owing To Its &#8216;Armies Of Lobbyists,&#8217; Says SpaceX CEO Elon Musk Amid Starliner Return Delay</a></li>
</ul>
Photos courtesy: Tesla and Shutterstock

Analyst Color

Tesla Replaces Ford As Morgan Stanley's 'Top Pick' As Brokerage Sees Potential In EV Giant's Energy And Service Segments

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As the U.S. presidential election approaches, the Federal Reserve is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016926/markets-brace-for-crucial-interest-rate-shake-up-what-to-expect-from-federal-reserv">grappling with the potential impact</a> of former President Donald Trump&#8216;s policy shocks on the economy and interest rates. This has created a dilemma for the Fed, which is now considering the possibility of a second Trump presidency and the potential policy changes that could follow. They also consider the possibility that Vice President Kamala Harris could shift the balance.
What Happened: The Fed is currently faced with a complex situation, as it must consider the potential impact of Trump policy shocks on the economy and interest rates, according to an opinion <a href="https://www.ft.com/content/d20fac20-cb21-41dc-a7f9-7b116d9d9b1a">piece</a> published in Financial Times by Krishna Guha, vice-chair of Evercore ISI and a former member of the management committee of the New York Fed. 
The Fed&#8217;s current Summary of Economic Projections is essentially a &#8220;constrained Harris&#8221; forecast, assuming no new shocks, likely in a scenario where Harris wins but is limited by a Republican Senate.
However, the potential for Trump to disrupt the status quo is a significant concern. This has led to a dilemma for the Fed: whether to update its policy plans early in light of prospective shocks or wait and risk falling behind the curve again.
The Fed is also aware of the difficulty of modeling both the mechanical impacts and the effects on animal spirits and risk premia. It does not want to appear as if it is prejudging Trump policies as inflationary during the election season, according to the piece.
&#8220;On current information, well positioned in mid-2025 might mean a rate in the 4 to 4.5% range — significantly below the current 5.25 to 5.5% rate, but still a bit restrictive,&#8221; Guha wrote. 
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39998398/kamala-harris-admits-i-inhaled-marijuana-and-now-pushes-for-legalization-what-this-means-for-202?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Admits &#8216;I Inhaled&#8217; Marijuana And Now Pushes For Legalization: What This Means For 2024 Elections</a>
Why It Matters: The Fed&#8217;s current predicament is the latest development in a series of events that have put the central bank under intense scrutiny. Earlier this year, the Fed&#8217;s Chairman Jerome Powell was under <a href="https://www.benzinga.com/news/24/05/38690987/can-jerome-powell-escape-the-pressure-of-politics-and-the-2024-election-he-has-to-do-magic-says-mark">intense scrutiny</a> as the U.S. presidential election approached. 
Market experts were questioning Powell&#8217;s ability to remain independent of political pressure. This was followed by the Fed&#8217;s May FOMC meeting, where the minutes delivered a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38972863/fed-minutes-raise-risk-of-higher-for-longer-interest-rates-bears-would-normally-get">harsh reality check to investors</a>, countering the dovish signals earlier conveyed by Powell during the May press conference. The minutes reignited investor fears about the increasing likelihood of a prolonged period of high interest rates.
However, the situation seemed to be shifting when, in July, the Fed&#8217;s potential <a href="https://www.benzinga.com/news/24/07/39812270/jerome-powells-top-advisor-hints-at-feds-potential-rate-cut-plans-all-moving-in-the-right-direction">rate cut plans</a> were hinted at by New York Federal Reserve President John Williams. Williams suggested that a rate cut could be on the cards if the recent slowdown in inflation persists, indicating that the Fed might be closer to this decision than previously thought.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39999385/donald-trump-issues-grim-warning-to-prime-minister-benjamin-netanyahu-if-he-doesnt-win-election-your?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Grim Warning To Prime Minister Benjamin Netanyahu If He Doesn&#8217;t Win Election: &#8216;You&#8217;re Going To End Up With &#8230; Maybe A Third World War&#8217;</a></li>
</ul>
Image Generated With AI Via Midjourney 
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>

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