Latest news for 29Metals (OTC:TWNMF) Stock

29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver). The group has three reportable segments which are Golden Grove, Capricorn Copper, and Exploration (which includes Redhill and regional exploration activities at Golden Grove and Capricorn Copper), and the majority of its revenue is generated from golden grove.

29Metals Ltd

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) lucrative agreement to pay Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) over <a href="https://www.benzinga.com/markets/equities/24/05/38573998/how-much-is-google-really-paying-apple-to-be-default-search-engine-on-iphones-unsealed-court-pap">$20 billion a year</a> to make its search engine the default on iPhones is now under threat.
What Happened: In May earlier this year, an antitrust lawsuit against Google&#8217;s parent company revealed that Apple received a massive $20 billion in 2022 to make Google the default search engine on Apple's Safari browser on iPhones.
The documents also underscore the importance of these payments to Apple's financial performance, with Google's contributions in 2020 accounting for 17.5% of the company&#8217;s operating income.
Following this, in August, a U.S. federal judge ruled that Alphabet's Google holds an <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">illegal monopoly</a> in the search engine market.
The U.S. Department of Justice (DOJ) now plans to propose measures to prevent these types of payments, arguing that they reinforce Google&#8217;s dominant position in the market, <a href="https://www.wsj.com/us-news/law/antitrust-enforcers-prepare-final-blitz-against-big-tech-39afe085?mod=lead_feature_below_a_pos3">according</a> to the Wall Street Journal. 
See Also: <a href="https://www.benzinga.com/news/global/24/11/42053801/alphabets-life-sciences-firm-verily-to-become-a-standalone-entity-disconnect-from-google">Alphabet&#8217;s Life Sciences Firm Verily To Become A Standalone Entity, Disconnect From Google</a>
If the judge grants the DOJ&#8217;s request, this long-standing arrangement between the two tech giants could end.
If Google is barred from making these payments, Apple might need to find new partners to fill the gap. Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Bing or other search providers could step in, but whether they will offer similar terms remains uncertain.
While <a href="https://www.benzinga.com/news/23/09/34990297/microsoft-considered-selling-bing-to-apple-as-google-rival-but-iphone-maker-remained-skeptical">Bing was the default</a> search engine for Siri and Spotlight from 2013 to 2017, Apple later switched back to Google.
Microsoft launched Bing in 2009 to directly compete with Google. However, despite its efforts, Google <a href="https://www.benzinga.com/news/23/04/31823704/is-bing-the-new-google-samsung-devices-could-ditch-google-search-for-microsoft-bing">remains the dominant player</a>.
A previous Bloomberg report has also suggested that the DOJ&#8217;s plan highlighted the proposal to force <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">Google to divest its</a> Chrome browser.
Why It Matters: Though the ruling could be a setback for Google, it's far from final.&nbsp;
Google has already indicated that it will appeal the decision, and the outcome could change depending on future legal developments.
Earlier, Google&#8217;s vice president of regulatory affairs, Lee-Anne Mulholland told <a href="https://pro.benzinga.com/dashboard">Benzinga</a>, "The government putting its thumb on the scale in these ways would harm consumers, developers, and American technological leadership at precisely the moment it is most needed."
Previously, Alphabet CEO Sundar Pichai also stated during the company&#8217;s third-quarter earnings call that the DOJ&#8217;s proposals could result in &#8220;<a href="https://www.benzinga.com/news/24/10/41616230/sundar-pichai-admits-doj-proposals-could-have-unintended-consequences-google-mapping-out-plan-b-in-c">unintended consequences</a>.&#8221;
As the DOJ&#8217;s final proposed remedies draw nearer on Nov. 20, JPMorgan analyst Doug Anmuth anticipates potential headline risk but believes it could provide much-needed clarity.
He continues to have an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42036010/alphabet-on-trial-doj-remedies-loom-but-analyst-sees-20-upside-as-discount-to-meta-narrows">Overweight rating on GOOGL</a> stock, with a price target of $212, indicating a 20% upside from its current price.
Price Action: On Tuesday, Alphabet&#8217;s Class A shares rose by 1.61%, closing at $178.12, while Class C shares increased by 1.57%, finishing at $179.58. In Wednesday&#8217;s pre-market session, Class A shares gained 0.06% to $178.22, and Class C shares edged up by 0.03% to $179.63, as of the latest update, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Apple shares rose by 0.11% on Tuesday, ending the day at $228.28. However, in Wednesday&#8217;s pre-market session, the stock declined by 0.21%, reaching $227.79 at the time of writing.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42025223/legendary-investor-rob-arnott-says-stock-market-looks-and-feels-like-the-year-2000-as-wall-street-rallies-after-trumps-win-likely-to-see-a-bear-market?itm_source=parsely-api">Legendary Investor Rob Arnott Says Stock Market ‘Looks And Feels Like The Year 2000' As Wall Street Rallies After Trump's Win: ‘…Likely To See A Bear Market'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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Apple Stares At Multi-Billion Dollar Hit Amid Google's Antitrust Ruling: Here's What Investors Should Know

Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)), a leading technology services and consulting company and Lineaje, today announced a collaboration to help enterprises secure the open
-source components within their software applications. Recently, Wipro's corporate investment arm Wipro Ventures invested in Lineaje, a US based software supply chain security company.
Wipro will leverage Lineaje's Open Source Manager and SBOM360 Hub to empower enterprises with a comprehensive service to continuously identify and neutralize critical open source
vulnerabilities within software they source, build, and use

Wipro, Lineaje Collaborate To Boost Enterprise Software Supply Chain Security

KKR Announced That In Connection With Its Two-stage Tender Offer Scheme For The Common Shares And Share Options Of Fuji Soft Incorporated Through Fk Co., Ltd. It Has Commenced Its Second Tender Offer, Which Will Run Until December 19, 2024

Redburn Atlantic analyst Peter Low upgrades Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) from Neutral to Buy.

Upgrades

Analyst Ratings

EQNR

Redburn Atlantic Upgrades Equinor to Buy

This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

Guidance

Canaan Expects Q4 Total Revenues To Be Approximately $80M, Est $82.652M

Canaan (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NASDAQ">CAN</a>) reported quarterly losses of $(0.27) per share which missed the analyst consensus estimate of $(0.05) by 440 percent. The company reported quarterly sales of $73.61 million which beat the analyst consensus estimate of $72.84 million by 1.05 percent. This is a 120.92 percent increase over sales of $33.32 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Canaan Q3 2024 GAAP EPADS $(0.27) Misses $(0.05) Estimate, Sales $73.61M Beat $72.84M Estimate

RBC Capital analyst Scott Hanold downgrades Northern Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) from Outperform to Sector Perform and raises the price target from $43 to $45.

Downgrades

Price Target

RBC Capital Downgrades Northern Oil & Gas to Sector Perform, Raises Price Target to $45

Macquarie analyst Ellie Jiang maintains Trip.com Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) with a Outperform and raises the price target from $75.4 to $80.8.

TCOM

Macquarie Maintains Outperform on Trip.com Group, Raises Price Target to $80.8

Canaan agreed that the proceeds from the sale of the Series A-1 Preferred Shares will be used by the Company and/or its subsidiaries to manufacture or invest in digital mining sites and equipment to be deployed or sold in North America, including any acquisition or disposition of assets from or between subsidiaries.&nbsp;

Offerings

Canaan Enters Securities Purchase Agreement With An Institutional Investor; To Issue And Sell To  Buyer Up To 30,000 Series A-1 Preferred Shares

SpaceX's Starlink revealed that it&nbsp;enabled real-time views of Earth&nbsp;during the <a href="https://www.benzinga.com/general/space/24/11/42079270/elon-musk-hails-starships-milestone-splashdown-as-trump-watches-one-more-ocean-landing-before-spacex-attempt-to-catch-the-ship-with-the-tower">sixth flight test</a> of Starship.
What Happened: Starlink, the satellite internet segment of SpaceX, announced via a tweet that it had&nbsp;enabled real-time views of Earth&nbsp;during the sixth flight test of Starship.
This comes as SpaceX continues to increase its launch cadence, with 17 launches in the last 31 days, including the launch of 24 Starlink satellites to low-Earth orbit from Florida.
"Starlink enabled real-time views of Earth during Starship's sixth flight test earlier today," the Elon Musk-owned satellite internet service provider said in a post on X.
<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">Starlink enabled real-time views of Earth during Starship's sixth flight test earlier today <a href="https://t.co/snXnMvOLEM">https://t.co/snXnMvOLEM</a>
&mdash; Starlink (@Starlink) <a href="https://twitter.com/Starlink/status/1859016772118343786?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Starlink operates a constellation of satellites around the world to offer internet connectivity to its <a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">more than four million subscribers</a>. Musk recently said that Starlink is SpaceX's primary source of funding for the Starship program, with contributions from NASA, too.
"Starlink is how we are paying for humanity to get to Mars. That's why there is a Hohmann transfer orbit diagram on the Starlink router."
<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">Starlink is how we are paying for humanity to get to Mars. That's why there is a Hohmann transfer orbit diagram on the Starlink router. <a href="https://t.co/JacNKHTvOK">https://t.co/JacNKHTvOK</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1858764380340387884?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
With Starlink demonstrating the capability of live streaming during re-entry and landing, its capabilities could eventually be leveraged to offer connectivity on future space missions.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42081589/tesla-electric-offers-unlimited-overnight-charging-for-just-5-a-month-as-ev-giant-races-toward-500k-sales-target">Tesla Electric Offers Unlimited Overnight Charging For Just $5 A Month As EV Giant Races Toward 500K Sales Target</a>
Starship, a rocket designed to transport astronauts to the moon and Mars, successfully launched from SpaceX&#8217;s Texas rocket development site, with the first stage booster, Super Heavy, detaching at an altitude of about 40 miles.
While SpaceX is currently a privately held company, investors can leverage Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) to participate in the Musk-led space company's growth. According to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>, DXYZ has gained over 198% in the past 6 months. 
Why It Matters: The successful launch and the real-time views enabled by Starlink are significant milestones for SpaceX. The company's CEO, Musk, has been vocal about his <a href="https://www.benzinga.com/general/space/24/11/42079270/elon-musk-hails-starships-milestone-splashdown-as-trump-watches-one-more-ocean-landing-before-spacex-attempt-to-catch-the-ship-with-the-tower">vision for space exploration</a> and colonization, and Starship plays a crucial role in this vision.
Gwynne Shotwell, COO of SpaceX, recently stated that Starlink is <a href="https://www.benzinga.com/general/space/24/11/42033393/spacexs-gwynne-shotwell-sees-starlink-becoming-profitable-in-2024-bets-on-starship-making-it-one-of-the-most-valuable-companies-amid-reports-of-tender-offer-valuing-it-over-250b">expected to become profitable</a> in 2024. With over 7,000 Starlink satellites launched to date, the company is building 50-60 satellites per week as it expands its network in low-earth orbit.
Moreover,&nbsp;NASA has endorsed the <a href="https://www.benzinga.com/news/24/10/41622928/nasa-endorses-initial-deployment-of-400-starlink-satellites-closer-to-earth-will-conduct-study-to-ga">initial deployment</a> of 400 Starlink satellites closer to Earth and is conducting a study to assess the impact of this deployment on travel to and from the International Space Station (ISS.)
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:
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<li><a href="https://www.benzinga.com/general/space/24/11/42082169/elon-musk-predicts-tesla-cybertrucks-optimus-robots-will-be-aboard-spacex-starships-to-mars-in-2-years">Elon Musk Predicts Tesla Cybertrucks, Optimus Robots Will Be Aboard SpaceX Starships To Mars In 2 Years</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: Shutterstock

General

DXYZ

SpaceX's Starlink Enables Real Time Views Of Earth During Starship's 6th Test Flight: Could It Be The Future Of Space Connectivity?

Yatsen Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YSG#NYSE">YSG</a>) reported quarterly losses of $(0.11) per share. This is a 26.67 percent increase over losses of $(0.15) per share from the same period last year. The company reported $96.47 million in sales this quarter. This is a 1.98 percent decrease over sales of $98.43 million the same period last year.

Yatsen Holding Q3 EPS $(0.11) Up From $(0.15) YoY, Sales $96.47M Down From $98.43M YoY

The agreement is part of the Company's plan to reach 10 exahash per second (EH/s) capacity in North America by mid-2025.&nbsp;
Under the agreement, each party will be allocated a portion of the&nbsp;BTC revenue less electricity, maintenance, and operating costs.
For revenue generated from Canaan's Avalon A14 Series, each party will receive 50%. &nbsp;For revenue generated from any Avalon A15 Series deployed to the site, to accelerate recovery of Canaan's capital costs, Canaan will be allocated 70% and LS Texas will receive 30%.
After Canaan has recovered the capital cost of the machines, each party will again receive 50%.

Contracts

Canaan Subsidiary Enters Strategic Joint Mining Agreement With LS Texas To Collaborate On Mining Activities

HSBC analyst Samantha Hoh downgrades Bloom Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) from Buy to Hold and announces $24.5 price target.

HSBC Downgrades Bloom Energy to Hold, Announces $24.5 Price Target

According to the purchase agreement,&nbsp;CCG will provide HIVE&nbsp;with 5,000&nbsp;Avalon A15-194T&nbsp;miners, with an&nbsp;average computing power of 194&nbsp;Terahash per second (TH/s), expected to be delivered in the first quarter of 2025.&nbsp;

HIVE

Canaan's Singapore Subsidiary Enters Follow-on Order Purchase Agreement With HIVE Digital Technologies For Its Avalon A15-194T Miners

— Lilly to Develop Two Targets Identified and Validated Using Verge Genomics' AI-Enabled, All-in-Human CONVERGE Platform
— Demonstration of the Robust Predictive Power of CONVERGE&#xAE; - 83% of Prioritized Targets were Validated in Disease-Relevant Models, a Rate Significantly Higher than Industry Standards

Verge Genomics Announced Milestones In Collaboration With Lilly To Discover And Develop Novel Treatments For ALS; Lilly To Develop Two Targets Identified By Verge Genomics

CORRECTION: Amer Sports Sees FY24 Fully Diluted EPS: $0.43-$0.45 Vs. $0.41 Estimate (Prior View: $0.40 - $0.44); Projects FY24 Reported Revenue Growth Of 16%-17% (Prior View: 15%-17%)

Bernstein initiates coverage on Cava Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) with a Market Perform rating and announces Price Target of $145.

Initiation

CAVA

Bernstein Initiates Coverage On Cava Group with Market Perform Rating, Announces Price Target of $145

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates GH Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GHRS#NASDAQ">GHRS</a>) with a Buy and maintains $40 price target.

Reiteration

GHRS

HC Wainwright & Co. Reiterates Buy on GH Research, Maintains $40 Price Target

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Silence Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLN#NASDAQ">SLN</a>) with a Buy and maintains $75 price target.

HC Wainwright & Co. Reiterates Buy on Silence Therapeutics, Maintains $75 Price Target

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has appointed Clara Shih, former Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) artificial intelligence chief, to head its newly formed Business AI division, marking a significant expansion of the social media giant&#8217;s AI strategy for enterprise customers.
What Happened: Shih, who announced her move <a href="https://www.linkedin.com/posts/clarashih_the-past-four-years-at-salesforce-have-activity-7264709174326886401-rZVL/">via</a> LinkedIn on Tuesday, will spearhead Meta&#8217;s efforts to develop AI tools for businesses using Meta&#8217;s social platforms. &#8220;Our vision is to make cutting-edge AI accessible to every business, empowering all to find success and own their future in the AI era,&#8221; Shih stated.
The appointment comes as Meta accelerates its unique open-source AI approach, differentiating itself from competitors like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)-backed OpenAI and Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google.
Rather than monetizing AI through direct subscriptions, Meta aims to enhance its existing advertising and social media platforms using its <a href="https://www.benzinga.com/tech/24/07/39915337/mark-zuckerberg-takes-aim-at-elon-musk-sam-altman-with-big-ai-aspirations-through-metas-latest-llama">Llama language models</a>.
See Also: <a href="https://www.benzinga.com/24/11/42079585/meta-google-and-microsoft-bet-big-on-ai-with-skyrocketing-capex-budgets-but-jensen-huangs-nvidia-poised-to-be-the-biggest-winner-says-analyst-only-game-in-town-with-1-trillion-of-ai-capex">Dan Ives Expects &#8216;Drop The Mic Performance&#8217; Tomorrow From Nvidia: Here&#8217;s Why</a>
Why It Matters: Meta&#8217;s AI push has gained momentum under CEO Mark Zuckerberg&#8216;s leadership. During the company&#8217;s third-quarter earnings call, Zuckerberg revealed plans for Llama 4, announcing an unprecedented computing infrastructure utilizing over 100,000 Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100 GPUs. The next-generation model is scheduled for <a href="https://www.benzinga.com/markets/equities/24/10/41643021/mark-zuckerberg-says-metas-open-source-gambit-is-paying-off-as-nvidia-and-amd-optimize-for-llama">release in early 2025</a>.
The company has already begun integrating AI-generated content into its platforms, including AI-created photo carousels on Facebook and AI chatbots on Instagram. 
Bank of America Securities <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41658862/meta-is-an-ai-story-fueled-by-llama-and-meta-ai-says-bullish-analyst">recently labeled Meta</a> an &#8220;AI Story,&#8221; citing the growing adoption of Llama and Meta AI. The firm projects AI-driven advertising improvements to materialize by 2025.
The move follows Meta&#8217;s strong third-quarter performance, where the company exceeded analyst expectations while signaling increased capital investment in AI infrastructure. Zuckerberg has touted the <a href="https://www.benzinga.com/news/24/07/40088285/mark-zuckerberg-says-metas-405b-model-llama-3-1-has-better-cost-performance-than-openais-chatgpt-thi">company&#8217;s $405 billion Llama 3.1 model</a> as having superior cost performance compared to competing closed models.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/42081224/comcast-plans-major-cable-networks-spinoff-msnbc-and-cnbc-to-form-new-public-company-report">Comcast Plans Major Cable Networks Spinoff, MSNBC And CNBC To Form New Public Company: Report</a></li>
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Image via Pixabay
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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