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Saga

Saga PLC is a diversified insurance company that also offers lifestyle products and services. The company operates in two main segments: Insurance, Cruise and travel. The company generates the vast majority of its revenue from the insurance segment, specifically through premiums and broking revenues. This segment offers retail motor broking, retail home broking, and underwriting products and services. The travel segment provides group tours, holiday packages, and cruises. Saga's customers are people aged 50 and older, and all revenue comes from the United Kingdom.

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The cruise industry is joining other sectors of the travel and hospitality industry in boycotting Russia following its invasion of Ukraine, with several major lines changing their itineraries to avoid calls in Russian ports.

Most Cruise Lines Say &#39;Nyet&#39; To Visiting Russian Ports

Saga PLC

Piper Sandler analyst Derek Podhaizer initiates coverage on Flowco Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLOC#NYSE">FLOC</a>) with a Overweight rating and announces Price Target of $34.

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Piper Sandler Initiates Coverage On Flowco Holdings with Overweight Rating, Announces Price Target of $34

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) witnessed an unprecedented jump in bearish bets by Wall Street hedge funds, limiting the second-largest cryptocurrency&#8217;s upside potential.
What Happened: In an X post on Sunday, capital markets commentator&nbsp;The Kobeissi Letter highlighted that short positioning in Ethereum has surged by 40% in just one week and by a staggering 500% since Nov. 2024. 
&#8220;Never in history have Wall Street hedge funds been so short of Ethereum, and it&#8217;s not even close,&#8221; The Kobeissi Letter stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What is happening with Ethereum? Short positioning in Ethereum is now up +40% in ONE WEEK and +500% since November 2024. Never in history have Wall Street hedge funds been so short of Ethereum, and it&#39;s not even close. What do hedge funds know is coming? (a thread) <a href="https://t.co/knsyOhYyyt">pic.twitter.com/knsyOhYyyt</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1888732751039181154?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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The &#8220;extreme positioning&#8221; has led to Ethereum significantly underperforming Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the analysis concluded. 
Indeed, Bitcoin surged over 107% in the last year, while Ethereum grew by a paltry 6%. Additionally, Bitcoin&#8217;s market valuation was six times more than that of Ethereum as of this writing
The Kobeissi Letter attributed market manipulation,&nbsp;harmless cryptocurrency hedges, and a bearish outlook on Ethereum as some of the factors behind the surge in short positioning.
It warned that such positioning could cause dramatic crashes, <a href="https://in.benzinga.com/25/02/43427669/ethereum-whales-awake-after-six-years-score-378-million-potential-profit-hours-before-market-crash">like the one witnessed last week amid trade war fears</a>, to be more common.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
Why It Matters:&nbsp; Interestingly, even as short exposure increased, inflows into Ethereum exchange-traded funds remained strong. Weekly net inflows stood over $420 million in the last week, more than double that of Bitcoin, <a href="https://sosovalue.com/assets/etf/us-eth-spot">according </a>to SoSo Value.
Analysts at&nbsp;JPMorgan&nbsp;noted in a recent report that<a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43526178/ethereum-faces-intense-competition-from-solana-struggles-to-compete-with-bitcoin-jpmorgan"> increased competition from rival blockchains</a> like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and other Layer-2 networks has been eroding Ethereum&#8217;s market share and threatening&nbsp;its long-term prospects.
Price Action: At the time of writing, Ethereum was exchanging hands at $2,644.83, down 0.63% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo courtesy: Shutterstock

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

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Wall Street's Ethereum Short Positioning Skyrockets — The 'Extreme Positioning' Has Caused ETH To Underperform Bitcoin, Says Analyst

Loop Capital analyst Chris Dankert downgrades Atkore (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATKR#NYSE">ATKR</a>) from Buy to Hold and lowers the price target from $115 to $65.

Downgrades

ATKR

Loop Capital Downgrades Atkore to Hold, Lowers Price Target to $65

Over the weekend, the Consumer Financial Protection Bureau&#8217;s (CFPB) operations were unexpectedly suspended. This followed DOGE lead Elon Musk&#8217;s apparent call for the agency&#8217;s dissolution in an X post on Saturday, where he wrote &#8220;CFPB RIP.&#8221; The decision is expected to benefit financial firms facing ongoing enforcement actions.
What Happened: Shortly after Musk&#8217;s post, the CFPB&#8217;s acting director, Russell Vought, who also recently became the Director of the United States Office of Management and Budget, took action.
Vought halted all pending CFPB investigations and supervisory activities. He then informed the Federal Reserve that the CFPB would not be requesting its next round of funding, citing the agency&#8217;s current $711.6 million balance as &#8220;excessive in the current fiscal environment.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Pursuant to the Consumer Financial Protection Act, I have notified the Federal Reserve that CFPB will not be taking its next draw of unappropriated funding because it is not &quot;reasonably necessary&quot; to carry out its duties. The Bureau&#39;s current balance of $711.6 million is in fact…
&mdash; Russ Vought (@russvought) <a href="https://twitter.com/russvought/status/1888423503537360986?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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<h3 class="wp-block-heading">Companies With Recent Enforcement Actions By CFPB</h3>
According to the CFPB <a href="https://www.consumerfinance.gov/enforcement/actions/#:~:text=Early%20Warning%20Services%2C%20LLC;%20Bank,of%20dollars%20in%20consumer%20losses.">website</a>, it took recent actions on some listed companies like Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), Honda Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>), Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), and others.
<ul>
<li>The Bureau, in a release dated Jan. 17, said that Equifax violated the Fair Credit Reporting Act and Honda Motor&#8217;s American Honda Finance Corporation furnished inaccurate consumer reporting information. In a release dated Jan. 16, CFPB issued an order against Jack Dorsey&#8217;s Block for failing to provide effective customer service for Cash App, citing the failure to provide live telephone agents.</li>
</ul>
<ul>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>): The Bureau alleged that the firm&#8217;s representations for its 360 Savings account were false or misleading for a period ranging from December 2020 to at least August 2024.</li>
</ul>
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>): CFPB alleged that Walmart and Branch Messenger Inc. engaged in unfair, abusive, and deceptive practices by requiring Walmart Spark drivers to use Branch accounts for payment, often without consent, and misrepresenting the Branch account&#8217;s features.</li>
</ul>
<ul>
<li>Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>): The company allegedly violated the Real Estate Settlement Procedures Act by giving things of value to real estate brokerages, including referrals, in exchange for referrals of real estate settlement business to Rocket Mortgage and Amrock.</li>
</ul>
<ul>
<li>The Bureau also filed a lawsuit on Dec. 20, 2024, against Early Warning Services LLC., Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), alleging their failure to adequately protect the Zelle network from fraud and other vulnerabilities, leading to consumer losses totaling hundreds of millions of dollars.</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/regulations/24/12/42479974/us-lenders-file-joint-lawsuit-against-consumer-finance-watchdog-for-capping-overdraft-fees-wells-fargo-jpmorgan-citigroup-stocks-in-focus">US Lenders File Joint Lawsuit Against Consumer Finance Watchdog For Capping Overdraft Fees: Wells Fargo, JPMorgan, Citigroup Stocks In Focus</a>
Why It Matters: Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO, Musk, who is charged with cutting wasteful federal spending via the Department of Government Efficiency, in an X <a href="https://x.com/elonmusk/status/1861644897490751865">post</a> dated Nov. 27, 2024 had said, &#8220;Delete CFPB. There are too many duplicative regulatory agencies.&#8221; 
The co-founder and CEO of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) Brian Armstrong supported Musk and said &#8220;CFPB is unconstitutional&#8221; and the U.S. already has Department of Justice to prosecute fraud.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">100% the right call The CFPB is unconstitutional on the face of it. And even if it wasn't, it should be deleted as we already have DOJ to prosecute fraud, and (many) other financial services regulators. It's an activist organization that has done enormous harm to the country. <a href="https://t.co/GlbETlnsZt">https://t.co/GlbETlnsZt</a>
&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1888385895163953554?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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However, Sen. Chris Van Hollen (D-Md.) in an X post said &#8220;The CFPB is protected by law and we will fight to ensure it can continue to fight for consumers.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is the richest man on earth bragging about destroying an agency that's returned BILLIONS of dollars to working Americans who were cheated by big corporations. Well guess what &#8211; the CFPB is protected by law and we will fight to ensure it can continue to fight for consumers. <a href="https://t.co/TDoof9dtGd">pic.twitter.com/TDoof9dtGd</a>
&mdash; Senator Chris Van Hollen (@ChrisVanHollen) <a href="https://twitter.com/ChrisVanHollen/status/1888358187503661399?ref_src=twsrc%5Etfw">February 8, 2025</a></blockquote>
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Also, Eric Feigl-Ding, the chairman of the Department of Public Health at New England Complex Systems Institute said that CFPB was &#8220;murdered by the richest man on Earth and his oligarchs.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">CFPB, the agency to help the poor fight corrupt banks and bad corporations, is dead (website and X account at least)… murdered by the richest man on Earth and his oligarchs. <a href="https://t.co/uruaia9wkX">pic.twitter.com/uruaia9wkX</a>
&mdash; Eric Feigl-Ding (@DrEricDing) <a href="https://twitter.com/DrEricDing/status/1888780098058457180?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
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In December 2024, financial industry groups, including American Credit Unions, the Consumer Bankers Association, the American Bankers Association, and the Mississippi Bankers Association filed a <a href="https://www.benzinga.com/government/regulations/24/12/42479974/us-lenders-file-joint-lawsuit-against-consumer-finance-watchdog-for-capping-overdraft-fees-wells-fargo-jpmorgan-citigroup-stocks-in-focus">joint lawsuit</a> against the CFPB over its new rule capping overdraft fees. The CFPB estimated the cap will save consumers up to $5 billion annually, or $225 per household.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43521806/deepseeks-hedge-fund-owner-had-multiple-top-projects-before-creating-the-firm-that-fueled-1-trillion-market-cap-erosion-of-ai-stocks">DeepSeek&#8217;s Hedge Fund Owner Had Multiple Top Projects Before Creating The Firm That Fueled $1 Trillion Market Cap Erosion Of AI Stocks</a></li>
</ul>
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JPMorgan, BofA, Equifax, And Others May Get Relief After CFPB Dissolution: Maryland Senator Says He Will Ensure It Continues To 'Fight For Consumers'

Google Deepmind&nbsp;CEO, Demis Hassabis, commended that DeepSeek&#8217;s AI model is &#8220;probably the best work&#8221; to have surfaced from China. Despite praising the model, Hassabis clarified that it did not constitute a significant technological breakthrough.
What Happened: At a Google-hosted event in Paris preceding the AI Action Summit, DeepMind CEO, Demis Hassabis expressed that the DeepSeek AI can do "extremely good engineering" and that it "changes things on a geopolitical scale.", <a href="https://www.cnbc.com/2025/02/09/deepseeks-ai-model-the-best-work-out-of-china-google-deepmind-ceo.html">CNBC </a>reported. 
However, Hassabis added that "despite the hype, there's no actual new scientific advance … it's using known techniques [in AI]." According to him, the hype around Deepseek has been "exaggerated a little bit."
Hassabis questioned DeepSeek&#8217;s claims regarding its low costs and the chips it utilizes. DeepSeek had earlier proclaimed that its AI model was developed at a fraction of the cost of leading AI players and utilized less advanced Nvidia chips. This revelation triggered a substantial stock sell-off and ignited a discussion over the high spending of large tech firms on AI infrastructure.
Regarding artificial general intelligence (AGI), Hassabis stated&nbsp;that the AI industry is&nbsp;&#8220;on the path towards AGI,&#8221;&nbsp;and suggested that we may be only around five years away from a&nbsp;system that exhibits all the&nbsp;cognitive capabilities humans have.
SEE ALSO: <a href="https://www.benzinga.com/tech/25/01/43014233/google-expands-collaboration-with-associated-press-to-deliver-up-to-date-information-in-gemini-ai-app">Google Expands Collaboration With Associated Press To Deliver Up-To-Date Information In Gemini AI App</a>
Why It Matters: Hassabis&#8217; comments align with Alphabet Inc. (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>) CEO Sundar Pichai <a href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-latency">who acknowledged the progress made by DeepSeek</a> but maintained that Google&#8217;s Gemini remains superior in efficiency, cost, and performance. Hassabis also considers Google&#8217;s newly launched Gemini 2.0 Flash Models as more efficient than even Deepmind&#8217;s model. 
In another instance, ex-Google researcher and CEO of Cohere, Aidan Gomez told Business Insider that DeepSeek&#8217;s R1 is &#8220;a really impressive release&#8221;. However, he doesn&#8217;t believe that it should be a viable option for businesses.
Interestingly, Chinese tech companies are witnessing a surge after the DeepSeek launch which gaining an edge over its US tech counterparts in terms of valuation. On Feb.6, Bloomberg Data suggested that the Hang Seng Tech Index had an average price-to-earnings ratio of 20.5 times, compared to the Mag. 7 giants that <a href="https://in.benzinga.com/quote/meta" target="_blank" rel="noreferrer noopener"></a>traded at an average of 41.4 times.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/asia/25/02/43573186/china-tech-etfs-surge-as-deepseek-led-ai-boom-fuels-bull-market">China Tech ETFs Surge As DeepSeek-Led AI Boom Fuels Bull Market</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.

Tech

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Google DeepMind CEO Calls DeepSeek AI 'Best Work' From China, But Says Hype Is Overblown: 'There's No Actual New Scientific Advance'

In a recent interview with YouTuber Modern Day Eratosthenes, Microsoft Corp.&#8217;s co-founder Bill Gates criticized Tesla Inc.&#8217;s Elon Musk and Amazon.com Inc.&#8217;s Jeff Bezos for prioritizing space exploration over real-world crises.
What Happened: Gates argues that While they spend billions on Mars colonies and space tourism, their money would be better spent addressing urgent global issues like hunger, disease, and climate change. "Rich people can do whatever they want&#8230; but I do think malnourishment is the worst thing there is," he said.
Space vs. Real-World Problems: For Gates, issues on Earth deserve far more attention than space exploration. "Farmers&#8230; they're experiencing climate change, which will mean sometimes too much rain, sometimes drought," he noted, emphasizing the urgent need for solutions.
He also highlighted the staggering human cost of mosquito-borne diseases, stating, "Nobody who has money has malaria," which is why he believes these issues receive far less funding than space ventures. "With mosquitoes, it's still like 600,000 [deaths] a year," he said, highlighting the scale of the problem.
While he acknowledges that some space technology has value — such as SpaceX's reusable rockets, which lower launch costs — he remains skeptical of long-term space ambitions. In his view, billionaire resources would be better spent addressing immediate crises on Earth rather than funding extravagant space projects.
See Also: <a href="https://www.benzinga.com/government/regulations/24/12/42479974/us-lenders-file-joint-lawsuit-against-consumer-finance-watchdog-for-capping-overdraft-fees-wells-fargo-jpmorgan-citigroup-stocks-in-focus">US Lenders File Joint Lawsuit Against Consumer Finance Watchdog For Capping Overdraft Fees: Wells Fargo, JPMorgan, Citigroup Stocks In Focus</a>
Why It Matters: Gates dismissed Musk's vision of a Mars colony as impractical, saying, "It's not a very hospitable place." He also aimed at Bezos' plans for space stations, suggesting they serve more as billionaire hobbies than meaningful contributions to humanity.
"Some people like more artificial satellites that you could put people on. People like Jeff Bezos are into that," he said.
While Musk and Bezos push for interplanetary expansion, Gates sees their priorities as misplaced. "I put my money into things like getting rid of malaria and measles and polio," he said, contrasting his focus with their space ambitions.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and reviewed by Benzinga editors before publication.
Photo courtesy: Shutterstock

Bill Gates Slams Elon Musk and Jeff Bezos: 'Rich People Can Do Whatever They Want… But Malnourishment Is the Worst Thing There Is'

BMO Capital analyst Phillip Jungwirth initiates coverage on Flowco Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLOC#NYSE">FLOC</a>) with a Outperform rating and announces Price Target of $33.

BMO Capital Initiates Coverage On Flowco Holdings with Outperform Rating, Announces Price Target of $33

Former Coinbase technology chief Balaji Srinivasan has joined a growing chorus of tech leaders and politicians advocating for Ron Paul to lead the Federal Reserve, highlighting renewed interest in the <a href="https://www.benzinga.com/24/12/42377089/ron-paul-wants-elon-musk-vivek-ramaswamy-led-doge-to-eliminate-this-program-of-immoral-transfer-of-wealth">former congressman&#8217;s anti-Fed stance</a>.
What Happened: The discussion gained momentum after Sen. Mike Lee (R-Utah) posted on X, formerly Twitter, asking followers to support Paul as Federal Reserve chairman. Tesla Inc. CEO Elon Musk endorsed the idea, responding to a suggestion that Paul should lead a Federal Reserve audit team.
Srinivasan, a prominent Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate and Silicon Valley investor, shared an image of Paul&#8217;s 2009 book &#8220;End the Fed&#8221; with the caption &#8220;Nothing can stop an idea whose time has come.&#8221; The book criticizes the Federal Reserve System and advocates for its abolition on constitutional and economic grounds.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nothing can stop an idea whose time has come. <a href="https://t.co/y3dmtU8UYQ">https://t.co/y3dmtU8UYQ</a> <a href="https://t.co/A0Wls1DZpW">pic.twitter.com/A0Wls1DZpW</a>
&mdash; Balaji (@balajis) <a href="https://twitter.com/balajis/status/1888680721365287185?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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This trend coincides with more general debates concerning the leadership of the Federal Reserve. Originally nominated to the Fed Board of Governors by former President Barack Obama, current Fed Chair Jerome Powell was chosen to run the central bank by President Donald Trump in early 2018. Powell has declared his intention to serve out his <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41849984/powell-brushes-off-trumps-removal-threat-economists-say-2026-could-be-his-last-stand">entire tenure through 2026</a>.
See Also: <a href="https://www.benzinga.com/25/02/43585332/trump-orders-scott-bessent-to-rip-the-waste-out-ends-penny-production-after-elon-musks-doge-report">Trump Orders Scott Bessent To &#8216;Rip The Waste Out,&#8217; Ends Penny Production After Elon Musk&#8217;s DOGE Report</a>
Why It Matters: The conversation around Paul&#8217;s potential role extends beyond the Fed chairmanship. Musk previously expressed interest in having Paul join the proposed Department of Government Efficiency (DOGE), a Trump campaign initiative aimed at cutting federal spending. Paul, while open to helping reduce government spending, has indicated he doesn&#8217;t seek <a href="https://www.benzinga.com/news/24/11/41698615/elon-musk-says-would-be-great-to-have-former-congressman-and-fed-critic-ron-paul-in-department-of-go">an official position</a>.
Paul, known for his fiscal conservatism, recently criticized U.S. foreign aid practices, calling them an &#8220;immoral transfer of wealth&#8221; and arguing they redirect funds from American citizens to wealthy <a href="https://www.benzinga.com/24/12/42377089/ron-paul-wants-elon-musk-vivek-ramaswamy-led-doge-to-eliminate-this-program-of-immoral-transfer-of-wealth">entities in poorer nations</a>.
The renewed attention on Paul&#8217;s monetary policy views comes as the DOGE initiative targets potential federal spending cuts of up to $2 trillion, though experts project more modest savings of $50-100 billion annually against a <a href="https://www.benzinga.com/24/12/42377089/ron-paul-wants-elon-musk-vivek-ramaswamy-led-doge-to-eliminate-this-program-of-immoral-transfer-of-wealth">projected $1.7 trillion deficit in 2024</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/25/02/43582928/bitcoin-ethereum-dogecoin-as-investors-prepare-for-crucial-cpi-ppi-data-top-analyst-anticipates-a-strong-week-for-crypto">Bitcoin, Ethereum, Dogecoin Flat As Investors Prepare For Crucial Inflation Data: Top Analyst Says This Week Comparable To Any &#8216;Crisis&#8217; Period But You Should Be Bullish</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Federal Reserve

Bitcoin Advocate Balaji Pushes 'End The Fed' Author Ron Paul For Central Bank Chair Amid Elon Musk's Support: 'Nothing Can Stop An Idea...'

Keefe, Bruyette &amp; Woods analyst Catherine Mealor upgrades Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) from Market Perform to Outperform and raises the price target from $40 to $44.

Upgrades

WSBC

Keefe, Bruyette & Woods Upgrades Wesbanco to Outperform, Raises Price Target to $44

<a href="https://www.globenewswire.com/Tracker?data=7GYlbST4D1MUi9iMD5inIgUErNsz6C4CZGCaevjxxwVlCp4fPTPD6zGmRfCtOWAcocG0FB1x3md5I1wd92EUSSH0VgyKKdPgkSS6P3jhnmI=">Royal Philips</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>, AEX: PHIA))), a global leader in health technology, in collaboration with the World Bank and Ukraine's Ministry of Health (MOH), today announced a nationwide initiative to modernize stroke and cardiovascular care in Ukraine. The demand for stroke care in Ukraine is nearly doubling, exacerbated by war damage and displaced populations lacking access to timely care. This program – which is already well on its way – aims to address these immense challenges by creating an advanced network of locations for the diagnosis and treatment of stroke.
The joint initiative delivers advanced image-guided therapy systems optimized for acute stroke treatment to key regions, including Dnipro, Sumy, Kharkiv, Lviv, Zaporizhzha and Odesa. Philips is deploying 25 of its Azurion interventional suites to support minimally invasive stroke treatments. These systems support complex neurovascular procedures, such as thrombectomies&#x2A;, which can reverse stroke effects. The systems integrate software tools and technologies to accelerate procedures and enhance care coordination. Together, these innovations streamline care pathways, reduce treatment delays and improve patient outcomes. Philips is working with its partner, AFS Medizintechnik, to roll out systems across the country. So far, 19 systems have been installed and are already helping Ukrainian physicians provide optimized care to their stroke patients.

Regulations

Philips Joins Forces With World Bank and Ukraine to Modernize Stroke and Heart Care

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4358137-1&amp;h=3676430497&amp;u=https%3A%2F%2Fwww.cognizant.com%2Fuk%2Fen&amp;a=Cognizant+(Nasdaq%3A+CTSH)">Cognizant (NASDAQ:</a><a href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>)&nbsp;today announced the renewal of its relationship with KBC Group, a leading Belgian universal multi-channel bank-insurer.
&nbsp;
This renewal of the agreement will extend until 2027, positioning Cognizant as KBC Group's partner in supporting its IT and business transformation across the entire spectrum of IT services, including application development &amp; maintenance, data services, infrastructure, and quality engineering.

CTSH

KBCSY

Cognizant Extends Partnership With Belgian Bank-Insurer KBC Group to Enhance IT Services and Innovation Through 2027

As we enter a new week, the cryptocurrency market presents both opportunities and risks for investors seeking short-term gains. Market indicators, though not foolproof, can help investors make informed decisions in this volatile environment.
What happened: Meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) invariably remain on investors' radar because of their high valuations and impressive gains over the years.
DOGE and SHIB <a href="https://www.benzinga.com/25/02/43583729/bitcoin-dogecoin-made-amends-last-week-but-litecoin-grabbed-spotlight-with-25-gains">rose 9.19% and 9.85%</a>, respectively, last week. Technical indicators gave mixed signals for the two meme heavyweights.
The Momentum indicator, which compares the short-term price and long-term price, flashed a &#8220;Buy&#8221; signal for both SHIB and DOGE, <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">according </a>to TradingView.
On the other hand, the Moving Average Convergence Divergence indicator, which compares two exponential moving averages of price, flashed a &#8220;Sell&#8221; signal.
The Bull Bear Power indicator, which measures the strength of buyers and sellers, was "Neutral" for both SHIB and DOGE.
On the derivatives front, over 50% of Dogecoin traders were betting against its price increase, while 52% of SHIB traders were long on the meme coin, <a href="https://www.coinglass.com/LongShortRatio">according</a> to Coinglass.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43454192/microstrategys-convertible-bonds-a-better-choice-than-spot-bitcoin-for-inclusion-in-sovereign-wealth-fund-says-analyst">Trump-Announced Wealth Fund Should Choose MicroStrategy Bonds Over Bitcoin, Analyst Says</a>
Meanwhile, President Donald Trump's meme coin, Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), plunged over 10% over the last week, affecting its speculative interest.
TRUMP's Open Interest fell by 9% in the last 24 hours, with the majority of its futures traders placing bearish short positions.
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), the fourth-largest cryptocurrency by market capitalization, rallied over 10% in the last week. Its Momentum indicator and the Stochastic Relative Strength Index, which measures the level of the Relative Strength Index relative to its high-low range over a period, both flashed a "Buy" signal.&nbsp;
That said, the MACD indicator painted a bearish short-term picture for the cryptocurrency.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>
Photo courtesy: Shutterstock

$DOGE

$SHIB

$TRUMP

$XRP

DOGE

TRUMP, SHIB, DOGE or XRP — What's Your Best Bet In A New Trading Week? Here's What The Indicators Tell Us

<h3>Companies Reporting Before The Bell</h3>
• Hain Celestial Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAIN#NASDAQ">HAIN</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $431.01 million. 
• Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $261.34 million. 
• Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) is expected to report quarterly earnings at $0.53 per share on revenue of $387.09 million. 
• Edgewell Personal Care (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPC#NYSE">EPC</a>) is projected to report quarterly earnings at $0.12 per share on revenue of $480.16 million. 
• McDonald's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) is estimated to report quarterly earnings at $2.86 per share on revenue of $6.48 billion. 
• Incyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) is projected to report quarterly earnings at $1.55 per share on revenue of $1.15 billion. 
• CSP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSPI#NASDAQ">CSPI</a>) is estimated to report earnings for its first quarter. 
• Ispire Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>) is likely to report quarterly loss at $0.03 per share on revenue of $59.50 million. 
• Motorcar Parts of America (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPAA#NASDAQ">MPAA</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $179.50 million. 
• Roivant Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>) is likely to report quarterly loss at $0.22 per share on revenue of $5.00 million. 
• Insperity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSP#NYSE">NSP</a>) is estimated to report quarterly earnings at $0.02 per share on revenue of $1.60 billion. 
• GCM Grosvenor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $158.60 million. 
• Rockwell Automation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) is likely to report quarterly earnings at $1.67 per share on revenue of $1.88 billion. 
• PowerFleet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIOT#NASDAQ">AIOT</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $99.43 million. 
• ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) is expected to report quarterly earnings at $0.98 per share on revenue of $1.76 billion. 
• Alexander's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALX#NYSE">ALX</a>) is estimated to report quarterly earnings at $3.71 per share on revenue of $55.20 million. 
• Loews (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) is expected to report earnings for its fourth quarter. 
• CNA Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>) is expected to report quarterly earnings at $1.21 per share on revenue of $3.62 billion. 
• ORIX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IX#NYSE">IX</a>) is estimated to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
• Arch Capital Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>) is expected to report quarterly earnings at $1.80 per share on revenue of $3.95 billion. 
• RCI Hospitality Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RICK#NASDAQ">RICK</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $81.82 million. 
• Ark Restaurants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKR#NASDAQ">ARKR</a>) is expected to report earnings for its first quarter. 
• Compass Minerals Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) is projected to report earnings for its first quarter. 
• Radiant Logistics (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/RLGT#AMEX">RLGT</a>) is projected to report quarterly earnings at $0.10 per share on revenue of $220.60 million. 
• Cresud SACIF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRESY#NASDAQ">CRESY</a>) is likely to report earnings for its second quarter. 
• Prospect Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSEC#NASDAQ">PSEC</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $189.67 million. 
• SelectQuote (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLQT#NYSE">SLQT</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $447.00 million. 
• SPDR ICE Preferred Securities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSK#NYSE">PSK</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $121.00 million. 
• PetMed Express (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PETS#NASDAQ">PETS</a>) is estimated to report quarterly loss at $0.01 per share on revenue of $60.00 million. 
• Quipt Home Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QIPT#NASDAQ">QIPT</a>) is likely to report earnings for its first quarter. 
• RGC Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGCO#NASDAQ">RGCO</a>) is projected to report quarterly earnings at $0.50 per share on revenue of $26.00 million. 
• Fluence Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) is projected to report quarterly loss at $0.21 per share on revenue of $375.22 million. 
• Columbus McKinnon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCO#NASDAQ">CMCO</a>) is expected to report quarterly earnings at $0.74 per share on revenue of $252.56 million. 
• Origin Agritech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) is estimated to report earnings for its Fiscal Year 2024. 
• Lattice Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $117.09 million. 
• Unitil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTL#NYSE">UTL</a>) is estimated to report quarterly earnings at $0.95 per share on revenue of $145.00 million. 
• Beyond Air (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAIR#NASDAQ">XAIR</a>) is estimated to report quarterly loss at $0.15 per share on revenue of $934 thousand. 
• SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) is expected to report quarterly earnings at $0.87 per share on revenue of $169.29 million. 
• Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) is projected to report quarterly earnings at $1.14 per share on revenue of $143.43 million. 
• Simpson Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSD#NYSE">SSD</a>) is projected to report quarterly earnings at $1.29 per share on revenue of $498.53 million. 
• Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) is estimated to report quarterly earnings at $4.10 per share on revenue of $2.78 billion. 
• TIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIMB#NYSE">TIMB</a>) is estimated to report earnings for its fourth quarter. 
• Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) is estimated to report quarterly earnings at $0.51 per share on revenue of $447.75 million. 
• Axcelis Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLS#NASDAQ">ACLS</a>) is expected to report quarterly earnings at $1.25 per share on revenue of $244.95 million. 
• Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) is likely to report quarterly loss at $1.10 per share on revenue of $14.09 million. 
• Kilroy Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRC#NYSE">KRC</a>) is likely to report quarterly earnings at $1.03 per share on revenue of $280.21 million. 
• Apollo Comml Real Est (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARI#NYSE">ARI</a>) is likely to report quarterly earnings at $0.22 per share on revenue of $48.20 million. 
• Mitek Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITK#NASDAQ">MITK</a>) is expected to report quarterly earnings at $0.13 per share on revenue of $36.05 million. 
• Harmonic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) is likely to report quarterly earnings at $0.37 per share on revenue of $212.45 million. 
• Amkor Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) is estimated to report quarterly earnings at $0.38 per share on revenue of $1.66 billion. 
• Danaos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAC#NYSE">DAC</a>) is estimated to report quarterly earnings at $6.95 per share on revenue of $261.56 million. 
• Coty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $1.73 billion. 
• Watts Water Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTS#NYSE">WTS</a>) is estimated to report quarterly earnings at $1.92 per share on revenue of $537.61 million. 
• CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $465.17 million. 
• NGL Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) is estimated to report quarterly earnings at $0.13 per share on revenue of $1.72 billion. 
• Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) is projected to report quarterly earnings at $3.12 per share on revenue of $535.01 million. 
• Astera Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) is projected to report quarterly earnings at $0.26 per share on revenue of $127.91 million. 
• Inspire Medical Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSP#NYSE">INSP</a>) is estimated to report quarterly earnings at $0.72 per share on revenue of $232.90 million. 
• Pennant Park Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNNT#NYSE">PNNT</a>) is expected to report quarterly earnings at $0.21 per share on revenue of $35.59 million. 
• PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) is projected to report quarterly earnings at $0.32 per share on revenue of $59.48 million. 
• Cincinnati Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CINF#NASDAQ">CINF</a>) is expected to report quarterly earnings at $1.87 per share on revenue of $2.63 billion. 
• Brixmor Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRX#NYSE">BRX</a>) is projected to report earnings for its fourth quarter. 
• Credicorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAP#NYSE">BAP</a>) is likely to report quarterly earnings at $4.66 per share on revenue of $1.48 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ACGL

ACLS

AIOT

ALAB

AMKR

ARKR

ARWR

CINF

CMCO

COTY

CRESY

CSPI

FLNC

GCMG

HAIN

HLIT

INCY

INSP

ISPR

LSCC

MEDP

MITK

MNDY

MPAA

PETS

PFLT

PNNT

PSEC

QIPT

RGCO

RICK

RLGT

ROIV

SEED

SLQT

SPSC

TIMB

TSEM

VRTX

XAIR

Earnings Scheduled For February 10, 2025

Despite inflation worries, Americans are expected to increase their Super Bowl spending, according to a recent report. However, more fans are planning to cut back on their expenses for the big game.
What Happened: A study by LendingTree found that 75% of Americans plan to watch the Super Bowl. However, 31% of these viewers intend to cut back on their Super Bowl spending compared to last year, <a href="https://www.foxbusiness.com/economy/americans-super-bowl-spending-rise-despite-inflation-worries?ref=biztoc.com">reported</a> Fox Business. This is a notable jump from the 19% who plan to increase their budget. Meanwhile, 50% of respondents expect their spending to remain unchanged.
Those planning to spend on Super Bowl festivities expect to spend an average of $142, marking a 22% increase from last year&#8217;s $116. The main expenses include food, beverages, and fan gear.
Matt Schulz, chief credit analyst&nbsp;at LendingTree stated, &#8220;Even though more people are&nbsp;saying they&#8217;re going to spend&nbsp;less, the average amount for&nbsp;people who are going to&nbsp;spend was up fairly significantly.&#8221;
The report also highlighted that 41% of Super Bowl viewers intend to place bets on the game. Most of these bettors plan to wager smaller amounts, with only 41% expecting to bet $100 or more.
SEE ALSO: <a href="https://www.benzinga.com/25/02/43488268/googles-gemini-ai-could-soon-include-adssundar-pichai-hints-at-future-monetization-beyond-subscriptions">Google&#8217;s Gemini AI Could Soon Include Ads — Sundar Pichai Hints At Future Monetization Beyond Subscriptions</a>
Why It Matters:&nbsp;The high cost of Super Bowl ads was a concern for many viewers. A Benzinga poll also revealed that <a href="https://www.benzinga.com/25/02/43563633/exclusive-is-super-bowl-7m-cost-worth-it-61-say-this-while-18-admit-to-looking-up-companies-after-last-years-nfl-">61% of viewers didn&#8217;t believe</a> the high cost of these ads was worth it. LendingTree&#8217;s findings coincide with a separate study by the Bank of America Institute, which revealed that Americans&#8217; spending on spectator sports hit a record high in 2024.
The Super Bowl event of Sunday saw a host of celebrity-packed commercials, with over <a href="https://www.benzinga.com/25/02/43583058/super-bowl-ads-go-all-in-on-ai-stars-and-8m-price-tags-elon-musk-shared-this-advert-with-his-followers">10 spots costing</a> advertisers $8 million each. President Donald Trump made history as the first sitting president to attend a Super Bowl. Besides the traditional sponsors, this year&#8217;s commercials attracted tech companies like 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>), Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) covered a wide range of themes, with a significant focus on artificial intelligence.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43583058/super-bowl-ads-go-all-in-on-ai-stars-and-8m-price-tags-elon-musk-shared-this-advert-with-his-followers">Salesforce Cuts 1000 Jobs But Ramps Up Hiring For AI Sales Roles</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Sports

Economics

Americans To Spend Big On Super Bowl, 22% Surge From Last Year Likely Despite Inflation Worries: Report

Billionaire entrepreneur Mark Cuban recently expressed his views on Elon Musk&#8216;s Department Of Government Efficiency (DOGE) initiative, advocating for more transparency and suggesting the inclusion of Democrats for oversight.
What Happened: Cuban on Monday reiterated his long-standing stance on government transparency, stating, &#8220;If you have nothing to hide, hide nothing.&#8221; 
Cuban&#8217;s post was a response to a resurfaced 2017 video shared by an X user, where the billionaire called for cutting the government's size by at least one-third and enhancing its efficiency—an idea that also underpins Trump&#8217;s newly established department, now led by Musk.
Cuban said, he &#8220;Still stand by it.&#8221;
challenging Musk&#8217;s DOGE initiative, which has faced criticism for its lack of transparency, Cuban suggested that Musk invite Democrats to work with his DOGE teams to provide a clearer picture of the project&#8217;s operations.
<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">Still stand by it. Said it many times before then. Blogged about it too. Difference is the transparency. <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@doge</a> says they are transparent. They don't want anyone questioning them. When it comes to government transparency: If you have nothing to hide, hide nothing… <a href="https://t.co/P845QlOTAJ">https://t.co/P845QlOTAJ</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1888711577047880106?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This post follows Cuban&#8217;s previous criticisms of the Tesla Inc CEO&#8217;s influence on the government and his control over free speech. He has also expressed concerns about Musk&#8217;s motivations and intentions.
SEE ALSO: <a href="https://www.benzinga.com/news/25/02/43582376/not-a-bad-return-on-his-investment-bernie-sanders-says-elon-musk-spent-277-million-to-elect-trump-and-made-154-billion-since-election-day">&#8216;Not A Bad Return On His Investment&#8217;—Bernie Sanders Says Elon Musk Spent $277 Million To Elect Trump And Made $154 Billion Since Election Day</a>
Why It Matters: Cuban&#8217;s post comes amid ongoing legal challenges claiming that DOGE fails to comply with federal transparency regulations. His call for more transparency and diverse oversight could potentially impact the public&#8217;s perception of DOGE and its operations. <a href="https://www.benzinga.com/markets/25/02/43554357/mark-cuban-calls-out-elon-musks-growing-influence-under-trump-on-a-mission-to-make-himself-above-and-beyond-the-president-of-the-united-states">Cuban has previously questioned Musk&#8217;s growing influence</a> and his control over free speech.
Interestingly, Cuban, a long-time Trump critic, has also shown interest in launching his meme coin with proceeds going to the U.S. Treasury to reduce the national debt. &nbsp;<a href="https://www.benzinga.com/startups/25/02/43515728/mark-cuban-mocks-meme-coins-but-pitches-one-to-cut-u-s-debt-if-its-a-grift-make-it-a-grift-to-benefit-all-americans">Cuban&#8217;s potential meme coin</a>&nbsp;could offer a contrast to the current DOGE initiative and its transparency issues.
Meanwhile, in a pre-Super Bowl interview, President Donald Trump expressed his trust in Elon Musk and highlighted that Musk's influence is particularly noteworthy since he is &#8216;not gaining anything&#8217; from the position.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/news/25/02/43581429/mark-cubans-400k-bet-on-teen-founder-comes-with-an-unexpected-invitation-i-want-my-daughters-to-meet-you-and-learn-from-you">Mark Cuban&#8217;s $400K Bet On Teen Founder Comes With An Unexpected Invitation: &#8216;I Want My Daughters To Meet You, And Learn From You&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mark Cuban Says He Backs Government Efficiency, But Questions Elon Musk's DOGE Initiative's Transparency: 'If You Have Nothing to Hide, Hide Nothing'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk and Vice President of Finance Sendil Palani addressed allegations of the EV company evading taxes in posts on X over the weekend. The company did not evade tax but carried it forward as per an Internal Revenue Service (IRS) provision, they said.
What Happened: Musk called for tax reform in a post on social media X on Saturday, claiming there are too many &#8220;loopholes.&#8221; Following the post, several X users noted that his EV company Tesla did not pay federal income tax for several years, including in 2024.
&#8220;Tesla losses were high for many years, so carry forward. Super majority of profit is from production and sales overseas, not US. But the point I am making IS that we need tax reform!,&#8221; Musk wrote in response to the allegations.
<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">Yeah. Tesla losses were high for many years, so carry forward. Super majority of profit is from production and sales overseas, not US. But the point I am making IS that we need tax reform!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1888411275060773218?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla VP of Finance Palani also took to X to address the claims.
&#8220;Tesla&#8217;s income taxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate,&#8221; Palani said.
&#8220;Details about 2024 Income Taxes were disclosed to last month in our 10-K (filing with the Securities and Exchange Commission). Notably &#8211; we outline our net operating loss carry-forwards, which result from the fact that Tesla has been unprofitable for the significant majority of its 20+ year history,&#8221; he said, while urging everyone to not look at any one recent year in isolation for details on the company&#8217;s finances. 
<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">Professor, Respectfully, Tesla&#39;s income taxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate. Details about 2024 Income Taxes were disclosed to last month in our 10-K. Notably &#8211; we outline our net…
&mdash; Sendil Palani (@sendilpalani) <a href="https://twitter.com/sendilpalani/status/1888694584894754947?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A tax loss carryforward is an&nbsp;IRS&nbsp;provision that allows businesses to carry a tax loss from one year into future years to offset a portion of their taxable income.&nbsp;
Why It Matters: Tesla <a href="https://www.benzinga.com/news/24/04/38485339/elon-musk-reminisces-how-tesla-achieved-its-first-quarterly-profit-11-years-ago-a-case-of-deliver-or">turned a full-year profit for the first time in 2020</a>. The company reported a net income of $721 million for 2020 and in 2024, this rose to $7.09 billion. In 2023, Tesla&#8217;s net income attributable to shareholders was nearly $15 billion. 
For the full-year 2024, Tesla recorded total revenue of $97.69 billion, marking a growth of about 1% from the year before, despite a 6% drop in automotive revenues which was offset by a rise in revenue from the company&#8217;s energy generation and storage segment.
The company reported <a href="https://www.benzinga.com/tech/25/01/43326143/tesla-stock-rises-5-after-hours-on-fsd-and-new-vehicle-promises-despite-q4-revenue-miss">earnings per share of $2.04</a>, down 53% from the year before, following a drop in annual vehicle deliveries and heavy discounting measures aimed at hiking sales. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43577187/spacex-to-land-falcon-9-first-stage-off-the-coast-of-the-bahamas-later-this-month">Elon Musk&#8217;s SpaceX To Land Falcon 9 First Stage Off The Coast Of The Bahamas Later This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla CEO Elon Musk, VP Of Finance Address Allegations Of Tax Fraud: 'Losses Were High For Many Years, So Carry Forward'

Elon Musk, the CEO of SpaceX and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has publicly dismissed the idea of acquiring the widely-used short-video app, TikTok. On Jan. 19, the U.S. President, Donald Trump signed an executive order to postpone the enforcement of a ban on the Chinese short-video app.
What Happened: Musk&#8217;s comments were made in late January and released online by The WELT Group,&nbsp;a division of&nbsp;German media company Axel Springer&nbsp;SE, on&nbsp;Saturday. Musk joined a summit hosted by the group via video, where he stated, &#8220;I&nbsp;have not put in a&nbsp;bid for TikTok.&#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"> 
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<iframe loading="lazy" title="Europe at a Turning Point - Elon Musk on Bureaucracy and the Fight for Innovation" width="500" height="281" src="https://www.youtube.com/embed/QVbRG2J1Saw?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>
<figcaption class="wp-element-caption"> These comments were made a week after U.S. President Donald Trump signaled openness to Musk purchasing the app, which is owned by the Chinese company ByteDance. However, Musk admitted he was unfamiliar with the app's format and stated he had no intentions of acquiring it. &#8220;I&#8217;m not eager to buy TikTok. I rarely acquire companies,&#8221; Musk remarked. The Tesla Founder also clarified that he likes to build companies from scratch but acquiring Twitter, now called X, was an &#8216;important and productive step&#8217; to preserve the freedom of speech in America and the world at large. While the enforcement of the ban on the short-video app has been delayed, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Google (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>) have yet to restore TikTok to their app stores. However, TikTok announced on Friday that U.S. Android users can now download and access the app via package kits available on its website, bypassing the restrictions. Trump has stated that he is in discussions with multiple parties regarding the potential purchase of TikTok and expects a decision on the app&#8217;s future later this month. The President ordered a ban on the short video app amid national security concerns. Currently, the app has approximately 170 million users in the U.S. SEE ALSO: <a href="https://www.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know">Trump Pushes For TikTok Deal, China Could Oblige If It Weren&#8217;t For Those Tariffs — Here&#8217;s What We Know</a> Why It Matters: The idea of Musk acquiring TikTok first <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">emerged in mid-January</a>, when Chinese officials considered Musk as a potential buyer for TikTok&#8217;s U.S. operations. This was due to Musk&#8217;s existing relationships in China through Tesla&#8217;s Shanghai factory and his close ties to President-elect Donald Trump. Later in the month, Trump himself <a href="https://www.benzinga.com/tech/25/01/43118289/trump-open-to-elon-musk-or-larry-ellison-buying-tiktok-calls-us-permit-key-to-1-trillion-valuation">expressed openness</a> to the idea of Musk or the Chairman of Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) Larry Ellison acquiring TikTok. This marked a significant shift in the platform's uncertain future amid regulatory challenges. A report by The Washington Post on Wednesday suggests a rather firm stance by China, wherein it may allow TikTok&#8217;s U.S. operations to shut down instead of approving a sale unless Washington offers broader trade and technology concessions. READ MORE: <a href="https://www.benzinga.com/tech/25/02/43582884/elon-musks-spacex-and-t-mobile-go-live-with-starlink-powered-satellite-to-cell-service-heres-how-much-it-will-cost">Elon Musk&#8217;s SpaceX And T-Mobile Go Live With Starlink-Powered Satellite-To-Cell Service: Here&#8217;s How Much It Will Cost </a> Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. </figcaption></figure>

AAPL

ORCL

Elon Musk Shuts Down TikTok Buyout Rumors, Says He Prefers To Build Companies From Scratch: 'I Rarely Acquire Companies'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 400 points as investors digested the jobs report for January.
Wall Street also recorded losses last week as renewed fears over inflation and trade tariffs eroded risk appetite. Investor uncertainty grew following President Donald Trump&#8217;s announcement that ‘reciprocal tariffs' would take effect next week.
The University of Michigan&#8217;s consumer sentiment survey revealed an &#8220;unusually large&#8221; spike in inflation expectations. The one-year inflation outlook surged by a full percentage point to 4.3%, marking its highest level since November 2023.
On the macro front, February's jobs report revealed a mixed outcome, with employment growth slowing down more than expected, yet unemployment fell more than expected, and wages surged more than expected.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) reported better-than-expected earnings and sales results for its fourth quarter after the market close Thursday. However, the company said it sees first-quarter net sales to come in a range of $151 billion to $155.5 billion, up 5% to 9% year-over-year, down from market estimates of $158.5 billion.
All sectors on the S&amp;P 500 closed on a negative note, with communication services, consumer discretionary, and materials stocks recording losses on Friday.
The Dow Jones closed lower by over 444 points to 44,303.40 on Friday. The S&amp;P 500 fell 0.95% to 6,025.99, while the Nasdaq Composite dipped 1.36% at 19,523.40 during Friday's session.
Investors are awaiting earnings results from McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), and Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</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 Friday, versus a prior reading of 44.3.
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.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

AMZN

Dow Dips Over 400 Points Following Tariffs Threat: Investor Sentiment Declines, Greed Index In 'Fear' Zone

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) to report quarterly earnings at $2.84 per share on revenue of $6.44 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. McDonald&#8217;s shares slipped 0.02% to $294.25 in after-hours trading.</li>
<li>Analysts expect&nbsp;ON Semiconductor Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) to post quarterly earnings of 97 cents per share on revenue of $1.76 billion. The company will release earnings before the markets open. In after-hours trading, ON Semiconductor shares fell 0.5% to $51.00.</li>
<li>VOXX International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOXX#NASDAQ">VOXX</a>) posted a loss of $1.90 per share for the third quarter, versus a year-ago profit of 8 cents per share. Its sales fell to $105.17 million from $135.26 million. VOXX International shares fell 0.3% to $7.38 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Before the markets open, Rockwell Automation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) is projected to report quarterly earnings at $1.59 per share on revenue of $1.88 billion. Rockwell Automation shares fell 0.4% to $267.35 in after-hours trading.</li>
<li>Analysts expect Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) to post quarterly earnings at $4.03 per share on revenue of $2.78 billion after the closing bell. Vertex Pharmaceuticals shares fell 2.5% to close at $469.32 on Friday.</li>
</ul>
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Long Ideas

Trading Ideas

VOXX

McDonald's, ON Semiconductor And 3 Stocks To Watch Heading Into Monday

McDonald's Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) will release its fourth-quarter financial results, before the <a href="https://www.benzinga.com/quote/MCD/earnings">opening bell, on Monday, Feb. 10, 2025.</a>
Analysts expect the Chicago-based company to report quarterly earnings at $2.86 per share, down from $2.95 per share in the year-ago period. McDonald's projects quarterly revenue of $6.48 billion, compared to $6.41 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Jan. 21, Cognizant Technology Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) and McDonald&#8217;s have extended their partnership with a multi-year renewal.
McDonald's shares fell 0.02% to close at $294.30 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/MCD/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Citigroup analyst Jon Tower maintained a Buy rating and raised the price target from $334 to $336 on Jan. 28, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Keybanc analyst Eric Gonzalez maintained an Overweight rating and cut the price target from $330 to $320 on Jan. 24, 2025. This analyst has an accuracy rate of 70%.</li>
<li>Morgan Stanley analyst John Glass maintained an Overweight rating and lowered the price target from $340 to $336 on Jan. 21, 2025. This analyst has an accuracy rate of 61%.</li>
<li>Truist Securities analyst Jake Bartlett maintained a Buy rating and cut the price target from $350 to $342 on Oct. 30, 2024. This analyst has an accuracy rate of 75%.</li>
<li>BMO Capital analyst Andrew Strelzik maintained an Outperform rating and raised the price target from $315 to $335 on Oct. 30, 2024. This analyst has an accuracy rate of 66%.</li>
</ul>
Considering buying MCD stock? Here&#8217;s what analysts think:
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>

McDonald's Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

The cruise industry is joining other sectors of the travel and hospitality industry in boycotting Russia following its invasion of Ukraine, with several major lines changing their itineraries to avoid calls in Russian ports.

What Happened: Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), the sector&rsquo;s largest company with nine cruise brands, is diverting its vessels from Russian ports.

&ldquo;In light of the recent attacks by Russia in Ukraine, Carnival Corporation brands will be modifying our itineraries in the coming week once alternative ports can be confirmed,&rdquo; said the company in a statement published on social media.&nbsp;&ldquo;We stand for peace,&rdquo; the cruise line added.

Norwegian Cruise Line Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), which has an average of 50 sailings per year to St. Petersburg, Russia&rsquo;s second-largest city, stated it is looking for alternative destinations.

&quot;We are currently working to confirm replacement ports and will advise all impacted guests and travel advisors as soon as possible,&quot; said the company in a statement.

Mystic Holdings Inc&rsquo;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSTH#OTC">MSTH</a>) Atlas Ocean Voyages dropped St. Petersburg from its late-summer Baltic itineraries and will substitute&nbsp;locations in Finland and Estonia. Alberto Aliberti, president of Atlas Ocean Voyages, pledged that travelers will &ldquo;enjoy these unique and rarely visited destinations and immersive shore excursions to take in the rich cultures and breathtaking vistas of the Baltic.&rdquo;

Saga plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SGPLF#OTC">SGPLF</a>), owner of Saga Cruises, and privately-owned companies in the <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> including Viking Cruise Lines and Windstar Cruises have also steered their ships away from Russia.

What Didn&rsquo;t Happen: However, not every cruise line is ready to write-off Russia.

As of this writing,&nbsp;Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) has yet to announce a boycott of Russian ports, but the company advised travelers via its corporate blog that it was ready to change its mind.

&ldquo;Baltic cruises are a popular summer cruise option, but with tensions high in the area, a change to scheduled cruises is not out of the question,&rdquo; the company said. &ldquo;While Royal Caribbean has not announced any changes yet, it does have back up ports of call it could fall back on.&rdquo;

MSC Cruises has also yet to announce a change of plans, nor has the company issued a public statement regarding the Russian invasion of Ukraine.

Photo: Ed Judkins / Pixabay

Most Cruise Lines Say 'Nyet' To Visiting Russian Ports

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