SymBio Pharmaceuticals Stock (OTC: SYMQY)

Latest news for SymBio Pharmaceuticals (OTC:SYMQY) Stock

SymBio Pharmaceuticals Ltd is a biopharmaceutical company engaged in manufacturing and commercializing drugs for oncology, hematology, and pain management.

SYMBIO PHARMS LTD S/ADR by Symbio Pharmaceuticals Ltd

SymBio Pharmaceuticals Ltd

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: 
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<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>
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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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Jerome Powell Faces Trump Dilemma Over Potential Policy Shocks Amid Growing Election Uncertainty, Says Former New York Fed Member

Macro Economic Events

Econ #s

Germany Gross Domestic Product (QoQ) Preliminary For Q2 -0.1% Vs. 0.1% Est.; 0.2% Prior

Germany Gross Domestic Product (YoY) Preliminary For Q2 -0.1% Vs. 0.0% Est.; -0.2% Prior

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, with the index remaining in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks closed mixed on Monday, ahead of earnings results from major companies and the Federal Reserve&#8217;s policy decision this week.
The S&amp;P 500 fell 0.8% last week, while the Nasdaq dipped 2.1%, with both indices recording posting back-to-back weekly losses. However, the Dow outperformed, with the index gaining 0.8% to record its fourth straight positive week.
On the economic data front, the Dallas Fed Manufacturing index declined to -17.5 in July versus a reading of -15.1 in the prior month.
Shares of ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) rose 11.5% in Monday&#8217;s session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/40013753/on-semiconductor-corp-beats-q2-earnings-and-revenue-estimates">second-quarter financial results</a>. McDonald's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) <a href="https://www.benzinga.com/news/earnings/24/07/40008869/mcdonalds-q2-earnings-consumer-spending-shifts-hit-revenue-and-operating-margins-franchise-revenue-">posted worse-than-expected</a> second-quarter financial results. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares jumped 5.6% on Monday after Morgan Stanley reiterated an Overweight rating and maintained a price target of $310.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, communication services, and real estate stocks recording the biggest gains on Monday. However, energy and information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 49 points to 40,539.93 on Monday. The S&amp;P 500 gained 0.08% at 5,463.54, while the Nasdaq Composite climbed 0.07% at 17,370.20 during Monday's session.
Investors are awaiting earnings results from Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), and The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 45.7, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 45.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>

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US Stocks Close Mixed Ahead Of Big Earnings, Fed Decision: Investor Optimism Improves Further

The U.S. government has pledged $1.7 billion in military aid to Ukraine, including a variety of munitions and support for air defense systems.
What Happened: The aid package includes $1.5 billion for long-term contracts through the Ukraine Security Assistance Initiative (USAI) and $200 million in immediate military aid from Pentagon reserves, AP News <a href="https://apnews.com/article/ukraine-russia-weapons-war-military-aid-2bc961d302b86c54e424a28ffed30cc2?utm_campaign=TrueAnthem&amp;utm_medium=AP&amp;utm_source=Twitter">reported</a> on Tuesday.
This commitment follows a NATO summit in Washington, where a significant portion of the discussions centered on strengthening support for Ukraine in its ongoing conflict with Russia. During the summit, President Joe Biden confirmed the U.S. would send a Patriot missile battery to Ukraine, responding to a request from Ukrainian President Volodymyr Zelenskyy.
See Also: <a href="https://www.benzinga.com/news/24/07/40002603/kamala-harris-raises-200m-in-a-week-66-of-that-money-is-from-donors-reveals-campaign-manager-a-peopl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Raises $200M In A Week, 66% Of That Money Is From Donors, Reveals Campaign Manager: &#8216;A People-Powered Campaign&#8217;</a>
NATO members agreed to initiate a new program to provide reliable military aid to Ukraine and prepare the country for future NATO membership. The latest aid package includes munitions for National Advanced Surface-to-Air Missile Systems (NASAMS), High Mobility Artillery Rocket Systems (HIMARS), Javelin and other missiles. The Pentagon will supply these weapons through presidential drawdown authority, allowing for direct access from its stock.
According to the Pentagon, the long-term contracted weapons will enhance Ukraine&#8217;s air defenses, including short- and medium-range munitions. The USAI will also fund mortar rounds, anti-armor systems, electronic warfare equipment, explosives, secure communications systems, and commercial satellite imagery services.
White House national security spokesman John Kirby stated that the package includes &#8220;key capabilities for the fight.&#8221; This marks the ninth military aid package for Ukraine since late April, following the Congress-approved supplemental funding for aid to Kyiv.
With the latest funding, the U.S. has now sent more than $55.4 billion in military aid to Ukraine since Russia invaded in February 2022.
Why It Matters: The NATO summit in Washington had prioritized long-term support for Ukraine in the war against Russia, with Ukrainian President Volodymyr Zelenskyy<a href="https://www.benzinga.com/news/24/07/39700167/zelenskyy-lands-in-washington-as-nato-summit-puts-ukraine-aid-first"> seeking to boost allied support</a> for his country. The summit followed a series of measures by NATO to fortify long-term support for Ukraine, including the <a href="https://www.benzinga.com/news/24/07/39590765/nato-to-trump-proof-ukraine-aid-after-bidens-weak-debate-performance-with-40b-annual-financial-pledg">establishment of a new post</a> in Kyiv.
However, the Pentagon has been grappling with accurately valuing defense articles sent to Ukraine due to ambiguous accounting definitions, leading to an <a href="https://www.benzinga.com/news/24/07/39978544/pentagon-finds-another-2b-accounting-error-in-ukraine-aid-bringing-total-to-8-2b">additional $2 billion</a> in accounting errors related to aid sent to Ukraine, bringing the total to $8.2 billion.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/40001721/thiel-reportedly-reassessing-trump-in-wake-of-vance-pick-in-spite-of-many-misgivings-he-had-earlier?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Thiel Reportedly Reassessing Trump In Wake Of Vance Pick &#8216;In Spite Of Many Misgivings&#8217; He Had Earlier This Year</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

US Commits Additional $1.7B In Military Aid To Ukraine Amid Ongoing Conflict With Russia, Bringing Total Package To $55.4B

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>) last week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">flagged higher capex spending </a>as it battles to gain supremacy in the artificial intelligence arena, and nervy investors sold off the stock on worries concerning a potential margin contraction. A tech venture capitalist said on Monday that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could be fairly insulated because of the strategy it has chosen.
What Happened: Alphabet, Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are on track to increase capex by about 43% this year, said Deepwater Asset Management&#8217;s Gene Munster in a post on X, formerly Twitter. 
Apple is a standout among the mega-cap techs, he suggested. &#8220;In what seems like it's operating in an alternate universe, $AAPL's CapEx is expected to be down 9% this year as the company monetizes its distribution in exchange for OpenAI's models and infrastructure,&#8221; he said.
&#8220;This is one of the reasons why Apple should see record margins sometime in the middle of next year.&#8221; In the March quarter, the company reported gross margin of 46.6%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Talk about bang for your buck: <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> <a href="https://twitter.com/search?q=%24AMZN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMZN</a> <a href="https://twitter.com/search?q=%24MSFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSFT</a> <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> will on average increase CapEx this year by 43%. In what seems like it's operating in an alternate universe, $AAPL's CapEx is expected to be down 9% this year as the company monetizes its distribution in exchange for…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1817968948077379694?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks"> Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: Apple lagged behind its mega-cap tech peers in embracing AI. On Monday, Cupertino <a href="https://www.benzinga.com/news/24/07/40029107/apple-rolls-out-ios-18-1-developer-beta-with-apple-intelligence-ahead-of-q3-earnings">released a new software </a>called Apple Intelligence in the developer beta of iOS 18.1 and the suite of AI features made available will help improve Siri, automatically generate emails and images and sort notifications.
The software is expected to be released to the public later this year but it may not be part of the iPhone 16 that will be launched this fall and will be powered by the iOS 18. 
As Munster said, Apple announced in mid-June that it has forged a partnership with Sam Altman-led OpenAI to integrate ChatGPT into the iPhone, iPad and Mac. The arrangement reportedly does not require<a href="https://www.benzinga.com/news/24/06/39304229/apple-and-openai-chatgpt-partnership-wont-include-cash-payments-for-now-but-does-it-mean-you-will-ne"> Apple to pay for the OpenAI association</a>, with the latter making money through distribution.
Apple ended Monday&#8217;s session up 0.13% at $218.24, 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/news/24/07/40029107/apple-rolls-out-ios-18-1-developer-beta-with-apple-intelligence-ahead-of-q3-earnings">Apple Rolls Out iOS 18.1 Developer Beta With Apple Intelligence, Ahead Of Q3 Earnings</a></li>
</ul>
Image via Apple

Equities

Tech

AAPL

AMZN

GOOG

GOOGL

Apple 'Operating In An Alternative Universe,' Says Top Analyst, As Cupertino's Strategy Will Likely Weather Margin-Squeezing Effect Of AI Spending

Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) (the &quot;Company&quot;) today announced that it has priced its private offering of&nbsp;$2.0&nbsp;billion aggregate principal amount of&nbsp;6.000%&nbsp;senior unsecured notes due 2033 (the &quot;Notes&quot;). The aggregate principal amount of Notes to be issued was increased from the previously announced offering size of&nbsp;$1.5 billion. The Notes will mature on&nbsp;February 1, 2033. The Notes are expected to be issued on or around&nbsp;August 12, 2024, subject to customary closing conditions

Reported Monday, Royal Caribbean Prices Upsized $2B Offering Of 6.000% Senior Unsecured Notes Due 2033 To Refinance Certain Series Of Its Senior Notes Due 2029

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to report quarterly earnings at $2.93 per share on revenue of $64.36 billion after the closing bell. Microsoft shares fell 0.4% to $425.00 in after-hours trading.</li>
<li>Flowserve Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) reported upbeat earnings for its second quarter on Monday. Flowserve shares fell 0.8% to $50.50 in the after-hours trading session.</li>
<li>Analysts expect Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) to post quarterly earnings at 46 cents per share on revenue of $13.02 billion. The company will release earnings before the markets open. Pfizer shares fell 0.2% to $30.72 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates. Harmonic shares jumped 13.2% to $13.30 in the after-hours trading session.</li>
<li>Analysts expect The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to post quarterly earnings at $1.37 per share on revenue of $20.74 billion before the opening bell. Procter &amp; Gamble shares gained 0.3% to $170.39 in after-hours trading.</li>
</ul>
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Photo courtesy: Procter &amp; Gamble

HLIT

Procter & Gamble, Microsoft And 3 Stocks To Watch Heading Into Tuesday

Consideration for the Acquisition to be&nbsp;$33.00&nbsp;per share in a mix of cash and Lundin Mining shares; concurrently, Filo announces a&nbsp;C$115 Million&nbsp;Private Placement to BHP and Lundin Mining in connection with the Acquisition. 
&nbsp;
Highlights of the deal
<ul>
<li>Crystalizes immediate value for Filo shareholders and delivers a clear and credible path to developing Filo del Sol to its full potential, backed by two of the world&#39;s leading copper miners;</li>
<li>Consolidation of two key assets in the Vicu&ntilde;a district by the JV creates a market-leading operational footprint in the district and offers:
<ul>
<li>Strong balance sheet capacity to fund future project development;</li>
<li>Potential to capture synergies and operational efficiencies; and</li>
<li>The ability for&nbsp;Filo del Sol to benefit from recently passed legislation in&nbsp;Argentina&nbsp;benefiting projects entering development;</li>
</ul>
</li>
<li>Filo shareholders that receive Lundin Mining shares will maintain upside exposure to the JV, while also benefiting from:
<ul>
<li>Jurisdictional and project risk diversification in a company with diversified asset portfolio with long-life assets operating globally;</li>
<li>Exposure to strong and increasing cash flow generation and dividends; and</li>
<li>Enhanced market profile with greater share liquidity.</li>
</ul>
</li>
</ul>

FLMMF

LUNMF

Reported Monday, BHP And Lundin Mining To Acquire Filo Corp For C$4.5B, Offering C$33/ Share In Cash And Lundin Mining Shares Or Mix Of Both

Former President Donald Trump accused the Organization of the Petroleum Exporting Countries (OPEC) of deliberately driving down <a href="https://www.benzinga.com/topic/oil">oil prices</a> to benefit Vice President Kamala Harris, warning that her potential presidency could be a &#8220;disaster&#8221; for the U.S.
What Happened: Trump took to his social media platform, Truth Social, to voice his concerns about OPEC&#8217;s actions. He <a href="https://truthsocial.com/@realDonaldTrump/posts/112871592399001658">wrote</a>, &#8220;OPEC nations are going all out to drive down oil prices in the hope that crazy Kamala Harris will win. Then they will really reap the rewards! She will be a disaster for the USA!&#8221;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="394" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-1024x394.png" alt="" class="wp-image-463915" style="width:593px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-1024x394.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-300x115.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-768x295.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61.png 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Trump&#8217;s comments come in the wake of a recent <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">decline in oil stocks</a>, which occurred amid speculation that Harris might adopt a more stringent stance on the oil and gas industry if she were to become the Democratic presidential nominee and win the White House race.
At the time of publication, oil stocks remain in the red after President Joe Biden opted out of the 2024 election race against Trump and endorsed Harris on Jul. 21 as a top presidential nominee. 
WTI Crude has dropped from $78.64 to $75.43 following Harris&#8217;s nomination for the presidential run, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), and EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) are all experiencing declines.
ETFs tied to the oil sector have also mirrored this downward trend, with United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>), and iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) all under pressure.
If Harris wins, her administration might focus on climate policies, including reducing carbon emissions and increasing funding for <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">renewable energy projects</a>. This shift could result in higher compliance costs and stricter regulatory requirements for the oil industry, potentially affecting profitability.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40015199/oil-prices-remain-under-pressure-despite-rising-middle-east-tensions-a-bearish-tria?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oil Prices Remain Under Pressure Despite Rising Middle East Tensions: Analyst Says Bearish Price Trend On Horizon</a>
Why It Matters: A report from Citi on Monday suggested that a Trump presidency could be &#8220;net bearish&#8221; for oil prices. This is due to <a href="https://www.benzinga.com/markets/24/07/40011423/net-bearish-for-oil-citi-warns-investors-of-trump-presidency-risks">his oil-friendly policies</a> and potential tariffs, which could increase oil supply and lower prices.
However, according to the same report, the main threat to oil markets under a <a href="https://www.benzinga.com/news/24/07/39810934/trumps-second-term-could-trigger-global-inflation-warn-analysts-2024-2025-is-going-to-be-very-differ" target="_blank" rel="noreferrer noopener">Trump presidency</a> would be pressure on Iran. If Trump were to adopt his previous maximum-pressure campaign on Iran once again, Iranian oil exports could be reduced by 500 to 900 thousand barrels per day, impacting global markets. 
Furthermore, Goldman Sachs warned last week that the next <a href="https://www.benzinga.com/markets/equities/24/07/39985035/goldman-sachs-warns-of-limited-oil-supply-options-for-next-us-administration">U.S. administration would have limited options</a> to significantly boost domestic oil supply due to low strategic petroleum reserves and potential regulatory easing.
In a broader context, the U.S. has been producing record amounts of oil, averaging 12.9 million barrels <a href="https://www.benzinga.com/markets/commodities/24/06/39510687/3-stocks-to-buy-as-oil-prices-collapse-opec-panics">per day in 2023</a>. This surge in production has led to concerns of a potential glut, reminiscent of the 2020 COVID lockdown period.
Moreover, Trump&#8217;s rift with OPEC is not new. In April 2018, the former president tweeted that OPEC had driven oil prices "artificially very high," a move that "will not be accepted."
<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">Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/987284041304100864?ref_src=twsrc%5Etfw">April 20, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39992214/russell-2000-notches-third-week-of-gains-strongest-streak-since-august-2022-small-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russell 2000 Notches Third Week Of Gains, Strongest Streak Since August 2022: Small Caps Serve &#8216;As Economic Barometer,&#8217; Analyst Says</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.

Commodities

Global

iShares Dow Jones US Energy Sector Index Fund

Trump Accuses OPEC Of Manipulating Oil Prices To Favor Kamala Harris, Warns 'She Will Be A Disaster For The USA!'

In recent news, Sen. Lindsey Graham (R-S.C.) reportedly made a failed attempt to convince former President Donald Trump to select Sen. Marco Rubio (R-Fla.) over Senator JD Vance as his vice-presidential candidate.
What Happened: Graham tried to sway Trump&#8217;s VP choice towards Rubio while on Trump&#8217;s plane heading to the Republican National Convention. Graham believed that Rubio would attract more votes in swing states, Business Insider<a href="https://www.businessinsider.in/politics/world/news/lindsey-graham-tried-to-stop-trump-from-choosing-jd-vance-as-his-vp-pick-report-says/articleshow/112115742.cms"> reported</a> on Tuesday.
Among those trying to dissuade Trump from choosing Vance were senators, donors, conservative media personalities, and other supporters. This comes amid Vance&#8217;s early campaign challenges, including defending remarks he made in 2021 criticizing &#8220;childless cat ladies.&#8221;
Despite these efforts, Trump&#8217;s spokesperson, Steven Cheung, confirmed that the former president is &#8220;thrilled with the choice he made with Senator Vance to be his running mate.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/40001605/anthony-scaramucci-says-donald-trumps-verbal-sparring-with-kamala-harris-a-mistake-adds-vice-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Donald Trump&#8217;s Verbal Sparring With Kamala Harris A Mistake, Adds Vice President Can &#8216;Shock The World&#8217; In Terms Of Skillset And Capability</a>
Why It Matters: The disagreement between Graham and Vance, particularly over Ukraine aid, highlights the different factions within the GOP. Graham, a traditional GOP defense hawk, has strongly advocated for more weapons for Ukraine, while Vance has opposed the aid in the Senate.
Vance&#8217;s campaign has been described as <a href="https://www.benzinga.com/news/24/07/40026875/trump-vp-pick-jd-vance-blasted-by-fellow-ohio-rep-landsman-one-of-the-cruelest-most-chaotic-and-down">&#8220;cruel and chaotic&#8221;</a> by fellow Ohio Rep. Greg Landsman (R-Ohio). Speculation about <a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">Vance being replaced</a> due to underwhelming polling and the growing momentum of Vice President Kamala Harris has been circulating. 
<a href="https://www.benzinga.com/news/24/07/40002746/secret-texts-reveal-republican-vp-candidate-jd-vances-past-views-on-trump-police-and-gop-called-ex-p">Text messages revealing </a>Vance&#8217;s past criticisms of Trump, the police, and the GOP have also surfaced, adding to the controversy.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/40003111/potential-kamala-harris-vp-pick-pete-buttigieg-says-voters-are-worried-about-age-and-acuity-of-presi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Potential Kamala Harris VP Pick Pete Buttigieg Says &#8216;Voters Are Worried About Age And Acuity Of President Trump&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Lindsey Graham Reportedly Tried To Persuade Trump To Not Pick JD Vance As His Running Mate: GOP Senator Wanted This Candidate As Ex-President's VP Pick

Better Choice Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTTR#NYSE">BTTR</a>) (the &quot;Company&quot; or (&quot;Better Choice&quot;), a pet health and wellness company, today announced the pricing of its underwritten public offering of an aggregate of 1,667,000 shares of its common stock (or pre-funded warrants (&quot;Pre-Funded Warrants&quot;) in lieu thereof). Each share of common stock (or Pre-Funded Warrant) is being sold at a public offering price of $3.00 per share (inclusive of the Pre-Funded Warrant exercise price). Total gross proceeds from the offering, before deducting underwriting discounts and offering expenses, are expected to be approximately $5 million. In addition, Better Choice has granted the underwriters a 45-day option to purchase up to an additional 100,000 shares of common stock and/or Pre-Funded Warrants at the public offering price less the underwriting discount.

BTTR

Reported Monday, Better Choice Company Prices $5M Public Offering Of 1,667,000 Common Shares At $3/Share

Hunterbrook is a known short-seller that has a vested interest in sensationalizing information to manipulate the stock market. The Securities and Exchange Commission has not communicated to NuScale that it is the target of a current or prospective investigation, and the Company is unaware of any reason for such an investigation.

Reported Late Monday, NuScale Power Issues Statement Responding To Short-Seller Report, Denies SEC Investigation Claims

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4220446-1&amp;h=467918313&amp;u=https%3A%2F%2Fclarivate.com%2F&amp;a=Clarivate+Plc" target="_blank">Clarivate Plc</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>) a leading global provider of transformative intelligence, today announced the launch of the new&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4220446-1&amp;h=1030556884&amp;u=https%3A%2F%2Fclarivate.com%2Fproducts%2Fbiopharma%2Foff-x%2F%3Fcampaignname%3DPR_LeadGen_XBU_Global_2023%26campaignid%3D7014N000002NSTi%26utm_campaign%3DPR_LeadGen_XBU_Global_2023%26utm_source%3DPress_Release%26utm_medium%3DEarned_Press&amp;a=OFF-X%E2%84%A2" target="_blank">OFF-X&trade;</a>&nbsp;platform. The enhanced solution offers a seamless user experience and unique translational insights. It delivers crucial drug and target safety intelligence to proactively identify risks. Fully integrated with Cortellis Drug Discovery Intelligence&trade;, OFF-X&trade; provides a comprehensive, one-stop resource for safety information, streamlining processes and enhancing efficiency which ultimately delivers a competitive edge.
The new platform features an upgraded technology stack and enhanced functionality while retaining its core capabilities. These improvements include an&nbsp;80%&nbsp;reduction in loading times for targets, drugs, drug combinations and adverse events. The platform now offers faster search capabilities, a clearer visual design, full-screen visualization and additional analytic tools.

CLVT

Clarivate Launches OFF-X Platform to Enhance Drug Safety Intelligence

Global logistics leader, C.H. Robinson Worldwide, Inc. (&quot;C.H. Robinson&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) announced today that it has made the strategic decision to sell its European Surface Transportation business (EST) to sennder Technologies GmbH, the leading digital road freight forwarder in Europe (&quot;sennder&quot;). This move is part of the Company&#39;s enterprise strategy to get fit, fast and focused and to drive focus on profitable growth in its four core modes &ndash; North American truckload and less-than-truckload and global ocean and air &ndash; as the engines to create the most value for its stakeholders.

Asset Sales

CHRW

C.H. Robinson Sells European Transport Business to Sennder Technologies, Financial Terms Undisclosed

Telefonica Brasil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIV#NYSE">VIV</a>) reported quarterly earnings of $0.14 per share which beat the analyst consensus estimate of $0.13 by 7.69 percent. This is a 2.19 percent increase over earnings of $0.14 per share from the same period last year. The company reported quarterly sales of $2.63 billion which beat the analyst consensus estimate of $2.50 billion by 5.00 percent. This is a 2.14 percent increase over sales of $2.57 billion the same period last year.

Reported Monday, Telefonica Brasil Q2 EPS $0.14 Beats $0.13 Estimate, Sales $2.63B Beat $2.50B Estimate

The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including the repayment of indebtedness.
&nbsp;Pursuant to the Private Placement, the Company will issue 57,800,000 Ordinary Shares (the &quot;Placement Shares&quot;) at a purchase price of GBP &pound;0.1125 per Ordinary Share along with warrants to purchase up to 57,800,000 Ordinary Shares (the &quot;Warrants&quot;). The Warrants have an exercise price of GBP &pound;0.1125 per share and an exercise period of five years.

ARBK

Argo Blockchain Secures £6.5M From Institutional Investor Through Private Placement

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has unveiled the first set of features for its new artificial intelligence system, <a href="https://www.benzinga.com/topic/apple-intelligence">Apple Intelligence</a>, in the iOS 18.1 developer beta, ahead of its <a href="https://www.benzinga.com/news/earnings/24/07/40018739/apple-analyst-turns-focus-to-apple-intelligence-chinese-market-share-ahead-of-q3-earnings">upcoming Q3 earnings</a>.
What Happened: Apple has launched new betas of iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1 for developers, showcasing the first Apple Intelligence features. The AI system was initially previewed in June at the Worldwide Developers Conference (WWDC.)
While the rollout has begun, not all Apple Intelligence features are currently available. It's also worth noting that these are developer beta releases and not public betas, so they are likely to be more unstable.
The iPhone-maker is using these developer betas to refine, debug, and polish the new Apple Intelligence features before launch. The features missing in the developer beta are expected to roll out later this year.
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.
Among the active features in the beta are Writing Tools for summaries and other features accessible via Apple Intelligence, a Reduce Interruptions Focus Mode that filters out non-essential notifications, and a phone call recording feature available in iOS 18.1.
Developers upgrading to iOS 18.1, iPadOS 18.1, or macOS Sequoia 15.1 will need to join the Apple Intelligence waitlist to ensure smooth downloads and prevent system overload. The waitlist operates on a per-account basis, allowing access on multiple devices after a single sign-up.
Apple Intelligence is currently only available in U.S. English and is not available to developers in the European Union or China. The AI system will <a href="https://www.benzinga.com/news/24/07/40003714/first-iphone-16-models-may-not-have-apple-intelligence-features-as-cupertino-delays-ai-integration-f">not be part of</a> the initial iOS 18 launch in September, but will be introduced in a separate iOS 18.1 update expected a few weeks after iOS 18 debuts.
See Also: <a href="https://www.benzinga.com/news/24/06/39267314/will-your-iphone-support-new-apple-intelligence-features-heres-what-you-need-to-know">Will Your iPhone Support New Apple Intelligence Features? Here&#8217;s What You Need To Know</a>
Why It Matters: Apple&#8217;s journey with AI has been a topic of interest for a while. In July, Apple was reported to be <a href="https://www.benzinga.com/news/24/07/39904665/apple-plans-a18-chip-integration-to-bring-ai-features-to-iphone-16-its-entry-level-variants-and-ipad">planning to integrate</a> its A18 chip into its upcoming entry-level iPhones and iPads to make them capable of running Apple Intelligence.
However, the upcoming iPhone 16 series <a href="https://www.benzinga.com/news/24/07/40003714/first-iphone-16-models-may-not-have-apple-intelligence-features-as-cupertino-delays-ai-integration-f">will not include</a> the new AI features on debut – Apple will instead add them via a software update weeks later.
Check out more of Benzinga&#8217;s Consumer Tech coverage 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/markets/equities/24/07/40027650/apples-ai-models-trained-on-googles-custom-chips-not-nvidias-report">Apple&#8217;s AI Models Trained On Google&#8217;s Custom Chips, Not Nvidia&#8217;s: Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

Apple Rolls Out iOS 18.1 Developer Beta With Apple Intelligence, Ahead Of Q3 Earnings

TORONTO, ON / ACCESSWIRE / July 30, 2024 /&nbsp;TRU Precious Metals Corp. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/TRU#TSXV">TRU</a>)(OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/TRUIF#OTCQB">TRUIF</a>)(FSE:706) (&quot;&nbsp;TRU&nbsp;&quot; or the &quot;&nbsp;Company&nbsp;&quot;) is pleased to announce that it has signed a definitive earn-in agreement (the &quot;&nbsp;Option Agreement&nbsp;&quot;) with Eldorado Gold Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ELD#TSX">ELD</a>),(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>) (&quot;&nbsp;Eldorado&nbsp;&quot;), effective July 29, 2024, pursuant to which Eldorado has been granted the exclusive option (the &quot;&nbsp;Option&nbsp;&quot;) to earn an&nbsp;80%&nbsp;ownership interest in TRU&#39;s Golden Rose Project (as defined below), strategically located along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone in Central Newfoundland (see Figure 1). All figures are in Canadian dollars, unless otherwise stated.

TRUIF

TSX:ELD

TSXV:TRU

TRU Precious Metals Signs Option Agreement With Eldorado Gold For Golden Rose Project, With 80% Ownership Option

2024 guidance&nbsp; 
bp continues to expect both reported and underlying upstream production&#x2A; to be slightly higher compared with 2023. Within this, bp continues to expect underlying production from oil production &amp; operations to be higher and production from gas &amp; low carbon energy to be lower.
In its customers business, bp continues to expect growth from convenience, including a full year contribution from TravelCenters of America; a stronger contribution from Castrol underpinned by volume growth in focus markets; and continued margin growth from bp pulse driven by higher energy sold. In addition, bp continues to expect fuels margins to remain sensitive to the cost of supply.
In&nbsp;products, bp continues to expect a lower level of industry refining margins relative to 2023, with realized margins impacted by narrower North American heavy crude oil differentials. bp now expects refinery turnaround activity to have a lower financial impact compared to 2023 reflecting the lower margin environment, with phasing of activity in 2024 heavily weighted towards the second half, with a higher impact in the fourth quarter.
bp continues to expect the other businesses &amp; corporate underlying annual charge to be around $1.0 billion for 2024. The charge may vary from quarter to quarter. &bull; bp continues to expect the depreciation, depletion and amortization to be slightly higher than 2023.
bp continues to expect the underlying ETR&#x2A; for 2024 to be around 40% but it is sensitive to the impact that volatility in the current price environment may have on the geographical mix of the group&rsquo;s profits and losses.
bp continues to expect capital expenditure&#x2A; for 2024 to be around $16 billion, and continues to expect the phasing to be split broadly evenly between the first half and the second half.
bp continues to expect divestment and other proceeds of $2-3 billion in 2024, weighted towards the second half. Having realized $18.9 billion of divestment and other proceeds since the second quarter of 2020, bp continues to expect to reach $25 billion of divestment and other proceeds between the second half of 2020 and 2025.
bp continues to expect Gulf of Mexico settlement payments for the year to be around $1.2 billion pre-tax including $1.1 billion pre-tax paid during the second quarter. bp expects to update on our medium-term plans at the same time as our full year results in February 2025.&nbsp;

Guidance

For Fiscal 2024 Continues To Expect Both Reported And Underlying Upstream Production To Be Slightly Higher Compared With 2023; Divestments And Other Proceeds Are Anticipated To Reach $2B-3B In H2

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