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CleanCore Solutions Inc engages in the development and manufacturing of cleaning products that produce pure aqueous ozone for professional, industrial, or home use. The firm has a patented nanobubble technology using aqueous ozone that is effective in cleaning, sanitizing, and deodorizing surfaces and high-touch areas. The company offers products and solutions that are marketed for janitorial and sanitation, ice machine cleaning, laundry, and industrial industries. Its products are used in many types of environments including retail establishments, distribution centers, factories, warehouses, restaurants, schools and universities, airports, healthcare, food service, and commercial buildings such as offices, malls, and stores.

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CleanCore expands partnership with Harry Reid International Airport by deploying more Power Caddies for safe &amp; cost-effective disinfection and cleaning. ZONE stock down 3.13% at $3.10.

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Rezolve (NASDAQ: ZONE), a mobile commerce and engagement company, had acquired ANY Lifestyle Marketing GmbH, the exclusive marketer for all commercial activities of Radio Group in Germany. The financial terms of the transaction remain undisclosed.

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Lai Ching-te has been sworn in as the new president of Taiwan, the global semiconductor powerhouse, succeeding Tsai Ing-wen and pledging to continue the island&#8217;s policy of de facto independence while strengthening its defenses against China.
What Happened: Lai, 64, was inaugurated on Monday, May 20, in Taipei. Thousands of people gathered for the ceremony, where Lai, also known as William, accepted congratulations from politicians and delegations from 12 nations with official diplomatic relations with Taiwan, as well as representatives from the U.S., Japan, and various European states, <a href="https://apnews.com/article/taiwan-president-lai-chingte-af4ff1f254e11c24f751cea000fb42d9">reported</a> AP News.
Lai, who served as vice president during Tsai&#8217;s second term, has promised to continue his predecessor&#8217;s efforts to maintain stability while bolstering Taiwan&#8217;s security through the acquisition of advanced fighters and other technology from the U.S.
He also plans to expand the defense industry with the production of submarines and aircraft, and strengthen regional partnerships with Taiwan&#8217;s unofficial allies.
During his career, Lai has evolved from a self-described &#8220;pragmatic worker for Taiwan's independence&#8221; to a proponent of maintaining the status quo across the Taiwan Strait and the possibility of talks with Beijing.
Lai Ching-te&#8217;s presidency is crucial for Taiwan&#8217;s continued dominance as a global semiconductor powerhouse. With Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) producing approximately 90% of the world's most advanced semiconductor chips, the island&#8217;s strategic importance in the tech industry is unparalleled, <a href="https://edition.cnn.com/2024/03/22/tech/taiwan-tsmc-talent-shortage-training-center-intl-hnk/index.html#:~:text=Sometimes%20called%20the%20most%20important,smartphones%20to%20artificial%20intelligence%20applications.">according</a> to a CNN report.
As TSMC expands its global footprint with new fabs in the U.S., Japan, and Germany, Lai Ching-te's role becomes even more significant. His administration can facilitate the necessary diplomatic and economic support to ensure these expansions succeed while maintaining Taiwan's leading-edge technology base. 
Additionally, his presidency can address the talent shortages and cultural adjustments TSMC faces as it globalizes, ensuring that Taiwan remains at the forefront of semiconductor innovation and production.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38906790/bitcoin-price-predicted-to-rise-due-to-demand-and-supply-dynamics-says-analyst-as-k?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Price Predicted To Rise Due To &#8216;Demand And Supply Dynamics,&#8217; Says Analyst As King Crypto Rebounds 10% In Last 7 Days</a>
Why It Matters: Lai&#8217;s inauguration comes at a time of heightened tensions between Taiwan and China. In the lead-up to the inauguration, China extended an olive branch to Taiwan in the form of an <a href="https://www.benzinga.com/news/24/05/38894961/china-woos-taiwan-with-investment-package-ahead-of-presidential-inauguration-as-xi-jinping-eyes-peac">investment package</a>, signaling a potential shift in relations.
Meanwhile, Taiwan&#8217;s exports have been impacted by <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38693812/weak-chinese-demand-dampens-taiwans-april-exports-us-imports-soar-to-new-heights">weakened demand from China</a>, prompting the island to look to other markets, particularly the U.S., for growth. The surge in Taiwanese exports to the U.S. has been attributed to strong demand for artificial intelligence-related products.
Additionally, the soaring stock of TSMC has led to <a href="https://www.benzinga.com/markets/equities/24/05/38888238/key-apple-supplier-tsmcs-42-stock-surge-prompts-weighting-limits-for-some-funds-what-you-need-to">restrictions on single-stock exposure</a> for some investors, potentially driving them to seek alternative investments in Taiwan.
Amid these developments, the U.S. has been vocal in its support for Taiwan, with Nancy Pelosi pressing for the <a href="https://www.benzinga.com/news/24/05/38887713/nancy-pelosi-presses-for-reinstatement-of-observer-status-at-who-for-taipei-cowardly-that-beijing-co">reinstatement of Taiwan&#8217;s observer status</a> at the World Health Organization to counter Beijing&#8217;s efforts to isolate Taiwan.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38907049/former-trump-ally-anthony-scaramucci-foresees-more-pension-funds-investing-in-bitcoin-we-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Ally Anthony Scaramucci Foresees More Pension Funds Investing In Bitcoin: &#8216;We Are Still Early</a>&#8216;
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Tech

Lai Ching-Te Inaugurated As Next President Of Chip Powerhouse Taiwan

SpaceX CEO Elon Musk has been lauded for launching Starlink&#8217;s <a href="https://www.benzinga.com/news/24/05/38808661/did-solar-storm-zap-starlink-satellites-after-musks-warning-heres-what-happened">satellite internet service</a> in Indonesia, a move aimed at enhancing connectivity in the country&#8217;s remote areas.
What Happened: On Sunday, Musk along with Indonesian Health Minister&nbsp;Budi Gunadi Sadikin, introduced the Starlink&nbsp;service for the nation&#8217;s health&nbsp;sector. With its vast population exceeding 270 million spread across three time zones, Indonesia stands to benefit significantly.
The tech mogul shared a video of him speaking with the press at the launch on X, formerly Twitter, and said, &#8220;Bringing connectivity to remote communities radically improves access to education&nbsp;and economic opportunities.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bringing connectivity to remote communities radically improves access to education and economic opportunities <a href="https://t.co/hDVYvpRDKZ">pic.twitter.com/hDVYvpRDKZ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1792309903367061625?ref_src=twsrc%5Etfw">May 19, 2024</a></blockquote>
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On social media, several users praised Musk for his efforts. One person said,&nbsp;&#8220;It's amazing to me how&nbsp;the Left can despise Elon&nbsp;so much when pretty much&nbsp;everything he's doing is what&nbsp;they claim to want. Electric&nbsp;cars to save the environment.&nbsp;Internet connectivity to the underprivileged.&nbsp;Do they hate free speech&nbsp;SO MUCH that it outweighs&nbsp;all the good?&#8221;
Another user stated,&nbsp;&#8220;This is how you expand&nbsp;human consciousness. Everybody deserves a fair chance.&#8221;
A third individual simply&nbsp;said, &#8220;Changing the world one&nbsp;day at a time. Thanks!&#8221;
Why It Matters: Indonesia is the world&#8217;s largest archipelagic nation with over 735,000 square miles of territory. The country is made up of more than 17,000 islands. Its five main islands are Sumatra, Java, Sulawesi, parts of Borneo, and New Guinea.
Musk&#8217;s <a href="https://www.benzinga.com/news/24/05/38890509/looking-forward-spacex-ceo-elon-musk-blasts-off-to-indonesia-in-debut-visit-for-starlink-launch">visit to Indonesia was his first</a>. The billionaire arrived on the Indonesian resort island of Bali by private jet before attending the launch ceremony at a community health center in the provincial capital, Denpasar. He was dressed in a green batik shirt.
The service&nbsp;was launched at three Indonesian&nbsp;health centers,&nbsp;including two in Bali and&nbsp;one on the remote island&nbsp;of Aru in Maluku, reported Reuters. Starlink&#8217;s high internet speeds enable real-time data input to better address&nbsp;health challenges such as stunting&nbsp;and malnutrition. 
<a href="https://www.benzinga.com/government/23/02/30662005/indonesia-president-confident-of-winning-tesla-ev-plant-investment-courtesy-of-battery-reserves-and">Indonesia has been trying to attract</a> Musk&#8217;s electric vehicle company,&nbsp;Tesla Inc.,&nbsp;to build manufacturing plants related&nbsp;to electric vehicles, as the government aims&nbsp;to develop its EV sector&nbsp;using the country&#8217;s rich nickel&nbsp;resources.
When asked about this, Musk said, &#8220;We are focusing this event on Starlink and the benefits that connectivity brings to remote islands.&#8221; Indonesia marks the third Southeast Asian country where Starlink will be operational. Last year, Malaysia granted the firm a license to offer internet services, while in 2022, a Philippine-based company struck a deal with SpaceX.
On Monday, Musk is slated to meet with Indonesian President Joko Widodo, during which he will also speak at the World Water Forum being held on the island.
Photo courtesy: Shutterstock
Check out more of&nbsp;Benzinga's&nbsp;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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38887772/google-seeks-to-repeat-chromebook-success-in-education-by-rolling-out-gemini-ai-for-schools-promises?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google Seeks To Repeat Chromebook Success In Education By Rolling Out &#8216;Gemini&#8217; AI For Schools, Promises Enhanced Data Privacy</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tesla CEO Elon Musk Gets Praise For Launching Starlink Services In World's Largest Archipelagic Nation Indonesia: 'Changing The World One Day At A Time'

Ahead of the 2024 presidential election, Paul Krugman has raised questions about whether falling gas prices will positively influence President Joe Biden&#8216;s poll numbers.
What Happened: Paul Krugman, a renowned American economist, raised doubts about whether falling gas prices would benefit President Joe Biden&#8216;s poll numbers. According to a post on X on Sunday, Krugman highlighted the political influence of gas prices despite presidents having minimal control over them.
&#8220;One factor I think is being underrated in political analysis is the price of gasoline. It &#x2A;shouldn&#8217;t&#x2A; be a political issue, since presidents have very little influence,&#8221; Krugman wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One factor I think is being underrated in political analysis is the price of gasoline. It &#x2A;shouldn&#39;t&#x2A; be a political issue, since presidents have very little influence. But in practice it is; and may be one reason Biden&#39;s polls haven&#39;t improved as much as hoped 1/ <a href="https://t.co/yuBTB9Eevf">pic.twitter.com/yuBTB9Eevf</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1791831165218820388?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
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Krugman noted that futures prices indicate a significant drop in gas prices in the near future. He also pointed out that gas is not historically unaffordable, referencing a comparison of gas prices as a percentage of median weekly earnings.
However, Krugman emphasized that partisanship often distorts public perception, even for widely visible prices like gas. He cited a poll where 42% of Republicans believed gas prices were rising last December, despite a prolonged decline.
Krugman concluded by questioning whether the expected drop in gas prices would aid Biden or if many would ignore the reality of the situation. &#8220;So will gas prices help Biden? Or will large numbers of people refuse to believe their own eyes?&#8221; he asked, 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So will gas prices help Biden? Or will large numbers of people refuse to believe their own eyes? 5/
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1791833426976211292?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/asia/24/05/38837883/teslas-top-rival-byd-reveals-starting-price-of-hybrid-electric-pickup-in-mexico-launch-yes-its-a-lot?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It&#8217;s A Lot Cheaper Than The Cybertruck</a>
Why It Matters: The debate over gas prices comes amid a broader discussion about the U.S. economy under Biden&#8217;s administration. In a recent interview, Biden claimed he had already <a href="https://www.benzinga.com/government/24/05/38724294/biden-says-hes-already-turned-economy-around-blames-corporate-greed-for-persistently-high-inflation">turned the economy around</a>, attributing persistent inflation to &#8220;corporate greed.&#8221;
In April, Krugman dismissed <a href="https://www.benzinga.com/news/24/04/38395855/is-inflation-taking-off-again-paul-krugman-dismisses-fears-citing-atlanta-fed-survey">fears of rising inflation</a>, citing a survey by the Atlanta Federal Reserve that showed stable inflation expectations.
Additionally, global gasoline demand growth is projected to halve by 2024 due to the <a href="https://www.benzinga.com/news/24/05/38634852/global-gasoline-demand-growth-to-halve-by-2024-amid-rising-ev-demand-in-china-us">increasing adoption of electric vehicles</a> in the U.S. and China, which could further impact gas prices.
Despite these economic factors, a recent poll revealed that 51% of Americans believe they were better off financially during former President Donald Trump&#8216;s tenure, even though Biden&#8217;s administration has overseen <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom">significant economic growth</a> and the best job market since the 1960s.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38887983/stanley-druckenmiller-sells-off-72-of-nvidia-stake-bets-big-on-these-type-of-stocks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Stanley Druckenmiller Sells Off 72% Of Nvidia Stake, Bets Big On These Type Of Stocks</a>
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Politics

Will Falling Gas Prices Boost Biden's Popularity? Nobel Laureate Paul Krugman Has This To Say

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder and one of the biggest voices in the cryptocurrency space, Vitalik Buterin, praised the ecosystem's free speech ideals. However, the assertion faced backlash from a group of people on social media.
What Happened: The man behind one of the biggest blockchain projects took to social platform X to take pride in Ethereum's culture of welcoming criticism and not silencing voices with negative feedback on its work.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m really proud that ethereum does not have any culture of trying to prevent people from speaking their minds, even when they have very negative feelings toward major things in the protocol or ecosystem. Some wave the ideal of &quot;open discourse&quot; as a flag, some take it seriously.
&mdash; vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1791783560807845981?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
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"Some wave the ideal of &#8220;open discourse&#8221; as a flag, some take it seriously," Buterin said, in an apparent dig at censorship happening on other blockchain platforms.&nbsp;
These claims, however, were challenged by social media users who narrated facing significant censorship by Ethereum influencers.&nbsp;
An X user going by the pseudonym dubzy responded, "Well I told someone that eth fees were expensive and he abused me for 13 minutes, explain that?"&nbsp;
Matthew Gould, founder and CEO of blockchain firm Unstoppable Domains, said he faced the exact opposite of what Buterin preached, including heavy censorship by some projects on the network and condemnation of divergent opinions on their operations.
Why It Matters: Constructive criticism of technology and processes is critical to any industry&#8217;s overall progress, as any expert will tell you.
Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) co-founder Anatoly Yakovenko endorsed Buterin's view and deemed it an industry-wide phenomenon.
"The whole industry is awesome. You don't see Microsoft and Google and Apple engineers all in one chat room constantly challenging each others design decisions," Yakavenko wrote while responding to Buterin's post.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,089.07, down 1.43% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo by Alexey Smyshlyaev on Shutterstock.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38910906/bitcoin-dogecoin-ethereum-retrace-on-profit-taking-by-retail-investors-analyst-predicts-pa">Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase</a>

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Vitalik Buterin Says 'Proud' Ethereum Doesn't Censor Critical Views, Social Media Users Complain The Reality Is Opposite

Geoffrey Hinton, the &#8220;Godfather of AI,&#8221; who made headlines last year when <a href="https://www.benzinga.com/news/23/05/32146221/ai-godfather-geoffrey-hinton-quits-google-hard-to-see-how-you-can-prevent-the-bad-actors-from-using" target="_blank" rel="noreferrer noopener">he quit his job</a> at Google, has now warned of the potential job losses due to artificial intelligence. He has also called for the implementation of a universal basic income.
What Happened: During an interview <a href="https://www.bbc.com/news/articles/cnd607ekl99o">with</a> BBC Newsnight, Hinton expressed his concerns about&nbsp;the impact of AI on&nbsp;job security. He suggested that the government should consider implementing&nbsp;a universal basic income to address the potential inequality arising from AI-induced job losses.
&#8220;I&nbsp;was consulted by people in&nbsp;Downing Street and I advised&nbsp;them that universal basic income&nbsp;was a good idea,&#8221; he said. 
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Hinton also highlighted the potential risks of unregulated AI, stating that the current trajectory could lead to an &#8220;extinction-level threat&#8221; for humans. He also suggested that a prohibition&nbsp;on the military use of&nbsp;AI could be a better solution. 
&#8220;[Vladimir] Putin said some years ago that whoever controls AI controls the world. So I imagine they&#8217;re working very hard,&#8221; he said. &#8220;Fortunately, the West is probably well ahead of them in research. We&#8217;re probably still slightly ahead of China. But China&#8217;s putting more resources in. And so in terms of military uses I think there&#8217;s going to be a race.&#8221;
Why It Matters: Hinton&#8217;s warning comes amid a growing debate about&nbsp;the impact of AI on&nbsp;the workforce. Earlier this month, a&nbsp;study by Microsoft and LinkedIn&nbsp;revealed that <a href="https://www.benzinga.com/news/24/05/38703371/ai-adoption-in-workplace-employees-concealing-use-of-ai-tools-for-fear-of-job-replacement-microsoft">75% of employees use AI in their work</a>, with over half of them hesitant to admit to using AI for their most critical tasks, fearing that it might make them replaceable.
In March, the Institute for Public Policy Research or IPPR cautioned that the U.K. government might face a potential loss of up to eight million jobs as AI becomes more integrated into workplaces. The think tank also proposed that a &#8220;jobs apocalypse&#8221; can be averted with <a href="https://www.benzinga.com/news/24/03/37950694/ai-could-cost-uk-8m-jobs-but-theres-a-way-out-says-think-tank-if-they-dont-act-soon-it-may-be-too-la">appropriate government intervention</a>.
Meanwhile, the potential for AI to replace human jobs is already being explored in various industries. For instance,&nbsp;Yum Brands is planning to introduce<a href="https://www.benzinga.com/news/24/04/38083611/ai-gunning-for-fast-food-jobs-next-kfc-taco-bell-operator-yum-brands-planning-chatgpt-like-bots-to-b"> AI-driven bots&nbsp;to boost its fast-food operations</a>, potentially impacting the jobs of thousands of workers.
Despite these concerns, not everyone shares Hinton&#8217;s pessimism about the future of AI. Previously, Edward Snowden mocked AI pessimists, pointing out that even current AI <a href="https://www.benzinga.com/news/24/03/37681869/edward-snowden-mocks-ai-pessimists-your-printer-doesnt-work-and-google-cant-find-taco-bell-yet-youre">technologies are not performing as expected</a>.
Photo Courtesy: Wikimedia Commons
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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38909116/openais-new-model-gpt-4o-elon-musks-high-regard-for-ilya-sutskever-and-microsofts-china-move-this-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s New Model GPT-4o, Elon Musk&#8217;s High Regard For Ilya Sutskever And Microsoft&#8217;s China Move: This We</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Media

'Universal Basic Income Was A Good Idea': AI 'Godfather' Geoffrey Hinton Warns Of Job Losses And Extinction-Level Threat From Tech

Tesla and SpaceX CEO Elon Musk has once again expressed his admiration for an Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) product, but it&#8217;s not the tech giant&#8217;s <a href="https://www.benzinga.com/markets/equities/23/11/35949574/apples-iphone-15-boosts-global-smartphone-sales-ending-27-month-decline-report" target="_blank" rel="noreferrer noopener">most successful product</a>, the iPhone or its first-generation mixed-reality headset, the Vision Pro. 
What Happened: Over the weekend, Musk took to X, formerly Twitter, to praise Apple&#8217;s headphones. &#8220;The Apple headphones are great.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Apple headphones are great
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791916829201600753?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
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</figure>
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In the comment section, some users agreed with the tech billionaire but suggested that Apple AirPods come with a cord, others disagreed and hailed headphones by Bose Corporation as better products. One user also suggested that Tesla consider producing its line of headphones. 
Why It Matters: This is not the first time Musk has publicly acknowledged Apple&#8217;s products. Last year, in September, he <a href="https://www.benzinga.com/news/23/09/34835034/tesla-ceo-elon-musk-is-so-impressed-by-apples-iphone-15-photos-that-he-tells-tim-cook-im-buying-one">expressed his intention</a> to buy an iPhone 15 Pro Max. His vote of confidence came after Apple CEO Tim Cook shared images captured using the device by acclaimed photographers Stephen Wilkes and Reuben Wu.
Earlier this year, Musk also <a href="https://www.benzinga.com/news/24/01/36710585/elon-musk-tells-tim-cook-hes-looking-forward-to-trying-apple-vision-pro-hours-after-taking-a-swipe-a">indicated an interest in trying</a> the Apple Vision Pro. He has previously criticized mixed reality technology agreeing with a parallel drawn between the headsets and television. 
Given Musk&#8217;s stature in the tech world, his endorsement has a certain significance. In 2022, his support for &#8220;Elden Ring&#8221; reportedly sparked an increase in both the <a href="https://www.benzinga.com/general/gaming/24/04/38395097/elon-musk-likes-games-originating-from-this-country-because-because-they-havet-been-corrupted-by-w">game&#8217;s popularity and its sales</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Recalls Breaking Friendship With Google&#8217;s Larry Page Over Ilya Sutskever: &#8216;Linchpin For OpenAI Being Successful&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AAPL

TSLA

Elon Musk Endorses This Apple Product As 'Great' — And, No It's Not iPhone Or Vision Pro

Leading cryptocurrencies dipped Sunday evening as profit-hungry traders locked in gains from last week's relief rally. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.05%</td>
<td>$66,231.95</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-1.79%</td>
<td>$3,066.75</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-2.97%</td>
<td>$0.1488</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin, the largest digital asset on the planet, was hovering over the $66,000 mark, after soaring past $67,000 earlier in the day. The correction pushed the rest of the market to give up its previous week&#8217;s gains as well.
Bitcoin's Open Interest fell 1.13% in the last 24 hours to $32.73 billion at the time of publication. The biggest decline was seen on Bitget, while CME—the world's largest Bitcoin futures exchange—experienced a 0.65% drop.
Despite the correction, most traders were bullish on Bitcoin's prospects, as the number of long positions for the coin significantly exceeded shorts in the last 24 hours.
The Cryptocurrency Fear &amp; Greed Index continued to signal "Greed," although the degree of greed subsided from last week's rally.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin Cash (BCH)</td>
<td>+1.66%</td>
<td>$482.80</td>
</tr>
<tr>
<td>Arweave (AR)</td>
<td>+1.06%</td>
<td>$47.78</td>
</tr>
<tr>
<td>Chainlink (LINK)</td>
<td>+0.49%</td>
<td>$16.46</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap stands at $2.39 trillion, following a 1.59% decline in the last 24 hours.
Stock futures inched higher on Sunday, following the record-breaking rally of Dow Jones Industrial Average Friday. The Dow Jones Industrial Average Futures rose 0.1%, or 41 points, as of 8.30 p.m. EDT. Futures tied to the S&amp;P 500 gained 0.14%, while Nasdaq 100 Futures added 0.17%.
The upcoming week is set to witness first-quarter earnings from top AI-based companies like NVIDIA Corp., with analysts predicting an overall positive for technology stocks. Key macroeconomic data like existing home sales and jobless claims data will also be on investors' radar.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: On-chain analytics firm Santiment attributed the brake in the rally to the capitulation of small Bitcoin holders. The number of non-empty wallets fell to levels not seen in the last two months. 
However, the firm added, "Historically, small wallets dumping their coins to larger wallets is an encouraging and bullish sign for BTC."
<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">&#x1f41f;&#x1f44b; <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is dancing just above $66.1K as small traders continue to <a href="https://twitter.com/hashtag/liquidate?src=hash&amp;ref_src=twsrc%5Etfw">#liquidate</a> their holdings despite the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> bounce over the past week. Historically, small wallets dumping their coins to larger wallets is an encouraging and <a href="https://twitter.com/hashtag/bullish?src=hash&amp;ref_src=twsrc%5Etfw">#bullish</a> sign for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/wlz4XPhfMD">https://t.co/wlz4XPhfMD</a> <a href="https://t.co/dTJAy5G6pL">pic.twitter.com/dTJAy5G6pL</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1792310926634631372?ref_src=twsrc%5Etfw">May 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Analyst Rekt Capital drew a historical equivalence with the last halving and predicted a consolidation phase for Bitcoin before it breaks into a parabolic rise.&nbsp;
<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> In 2020, Bitcoin performed a -19% retrace around the Halving And then consolidated for 160 days after the Halving before breaking out into the Parabolic Phase of the cycle (green) In 2024, Bitcoin retraced almost -24% around the Halving And if history repeats, price… <a href="https://t.co/5cSg3FTNGZ">pic.twitter.com/5cSg3FTNGZ</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1792233517025206457?ref_src=twsrc%5Etfw">May 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst Michaël van de Poppe forecasted a bullish pivot for altcoins, saying, "It&#8217;s very likely that Altcoins are continuing their upward grind from here and that we&#8217;ve finished the correction." 
Note that the crypto influencer recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38890935/top-crypto-trader-dumps-entire-bitcoin-portfolio-to-buy-altcoins-but-should-you-be-taking-">dumped all of his Bitcoins</a> in favor of altcoins.
<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">It&#39;s very likely that <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are continuing their upwards grind from here and that we&#39;ve finished the correction. Slow upwards grind, slowly but surely accelerating towards a vertical move in Q3/Q4. <a href="https://t.co/af2XMMu8NJ">pic.twitter.com/af2XMMu8NJ</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1792164298875387940?ref_src=twsrc%5Etfw">May 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">Senate Votes To Overturn Controversial SEC Crypto Rule, But Will Biden Veto It?</a>

Movers

Trading Ideas

$BTC

$DOGE

Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase

Rep. Jasmine Crockett (D-Texas) is reportedly launching a T-shirt line to support Democratic candidates, following a heated exchange with Rep. Marjorie Taylor Greene (R-Ga.).
What Happened: On Friday, Crockett announced on X that she will introduce the "Crockett Clapback Collection," featuring various merchandise inspired by her remarks, <a href="https://thehill.com/homenews/house/4672905-crockett-offering-bleach-blonde-t-shirts-following-spat-with-greene/">reported</a> The Hill.
The collection includes a T-shirt with the phrase "Bleach Blonde Bad Built Butch Body," which references her comment during a House Oversight Committee hearing last week.
Crockett mentioned that the proceeds will go towards ensuring a Democratic majority in the House. She noted that the merchandise will be available online soon.
The clash between Crockett and Greene occurred at a Thursday hearing when Greene commented on Crockett's appearance, sparking a heated exchange.
Crockett later defended her comments on CNN's "State of the Union" on Sunday, stating she does not regret her words and emphasizing her right to respect as a member of Congress.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38890222/biden-hands-out-big-l-to-trump-as-dow-hits-40k-for-first-time-and-ex-presidents-stock-market-cra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Hands Out &#8216;Big L&#8217; To Trump As Dow Hits 40K For First Time And Ex-President&#8217;s Stock Market Crash Prediction Falls Flat</a>
Why It Matters: This incident is not the first time Greene has been involved in a controversial exchange. Earlier, Jasmine Crockett accused Greene of racist behavior over a &#8220;fake eyelashes&#8221; comment during a hearing. Crockett asserted that Greene's remarks were racially motivated, stating, "She is racist. I mean, I don&#8217;t have any questions about that. Because, I mean, I don&#8217;t know that she&#8217;s ever attacked her own colleagues."
Earlier in March, Greene had another confrontation at Donald Trump&#8216;s Mar-a-Lago resort with British journalist Emily Maitlis. The clash began when Maitlis questioned Greene about her support for conspiracy theories. Greene responded by accusing Maitlis of being a conspiracy theorist herself, emphasizing her support for the truth, the constitution, and an America-first approach.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/05/38907610/trump-vs-biden-latest-poll-shows-candidates-locked-in-dead-heat-though-one-fares-significantly-worse?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Shows Candidates Locked In Dead Heat, Though One Fares Significantly Worse Than Other In Most Issues</a>
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 Engineered by 
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General

Fiery Exchange with Marjorie Taylor Greene Prompts Jasmine Crockett to Launch 'Clapback' T-Shirt Collection

The stock market is set to continue its bull run for another three to five years before an AI bubble bursts, according to veteran tech analyst Gene Munster.
What Happened: Munster, the managing partner at Deepwater Asset Management, predicts that the stock market will continue to rise due to the increasing adoption of AI technologies. He believes that this trend will drive the market for the next three to five years, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-rally-upside-ai-bubble-pops-tech-crash-2024-5">reported</a> Business Insider.
&#8220;We&#8217;re in the early stages of what is a three to five year bull market, and that may seem out of touch given the market run that we&#8217;ve had more recently&#8230; but if you ultimately believe in the substance of AI is going to be greater than the hype, then the market is going to continue,&#8221; Munster told CNBC on Friday.
Despite the recent market surge, Munster remains optimistic about the future of AI-driven stocks. He anticipates that the market&#8217;s growth will be fueled by smaller AI-focused companies, rather than just the mega-cap tech stocks.
Munster&#8217;s optimism is based on the belief that AI technologies will have a greater impact than the internet. He predicts that the stock market will eventually be inflated by a new class of tech companies, particularly those focused on AI.
However, Munster also warns that this bubble will eventually burst, leading to a painful end to the decade. Despite this, he advises investors not to shy away from owning stocks, as there is still potential for wealth creation in the interim.
&#8220;This is going to end in the spectacular bursting of a bubble, but I think there&#8217;s a lot of wealth creation that can happen between now and then,&#8221; Munster said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38887983/stanley-druckenmiller-sells-off-72-of-nvidia-stake-bets-big-on-these-type-of-stocks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Stanley Druckenmiller Sells Off 72% Of Nvidia Stake, Bets Big On These Type Of Stocks</a>
He also pointed out Alphabet (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>) and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) as unique, flagship holdings in Deepwater Asset Management&#8217;s tech-focused portfolio due to their in-house AI technologies.
Why It Matters: Munster&#8217;s prediction comes at a time when the stock market is experiencing significant shifts. Just recently, Goldman Sachs forecasted a flat return for the S&amp;P 500 for the <a href="https://www.benzinga.com/markets/equities/24/05/38863242/stock-market-rally-for-2024-has-peaked-goldman-sachs-forecasts-flat-return-from-now-till-the-end">remainder of the year</a>, suggesting that the stock market rally for 2024 has peaked.
Additionally, investment strategist Ed Yardeni warned that the Fed&#8217;s potential monetary <a href="https://www.benzinga.com/news/24/05/38720656/feds-rate-cut-could-trigger-stock-market-melt-up-warns-investment-strategist">easing through interest rate cuts</a> could unleash a surge in the stock market, potentially propelling the S&amp;P 500 to record highs by the year's end.
On the other hand, JPMorgan&#8216;s Jamie Dimon voiced concerns about the persistent <a href="https://www.benzinga.com/news/24/05/38889820/jpmorgans-jamie-dimon-warns-of-a-lot-of-inflationary-forces-ahead-predicts-higher-interest-rates">inflationary pressures</a> in the U.S. economy. He suggested that these pressures may lead to a prolonged period of higher interest rates than what investors anticipate.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38908102/dogecoin-rises-4-45-amidst-anonymous-120-million-doge-transfer-to-robinhood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Rises 4.45% Amidst Anonymous 120 Million DOGE Transfer To Robinhood</a>
Image Via Pixabay 
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Equities

GOOG

GOOGL

Stock Market To Rally For 3-5 Years Before AI Bubble Bursts, Predicts Veteran Analyst Gene Munster: 'We're In The Early Stages'

In a recent turn of events, Birmingham, Alabama&#8217;s Democratic Mayor, Randall Woodfin, has publicly denounced former President Donald Trump&#8216;s <a href="https://www.benzinga.com/news/24/05/38909755/donald-trump-for-third-term-ex-president-floats-controversial-idea-at-nra-convention">endorsement</a> by the National Rifle Association, labeling it as &#8216;sickening&#8217;.
What Happened: In an <a href="https://www.msnbc.com/politicsnation/watch/trump-s-praise-of-the-nra-is-sickening-says-mayor-of-birmingham-a-l-211222085715">interview</a> with Rev. Al Sharpton on MSNBC, Woodfin said, &#8220;It&#8217;s sickening&#8230;we are the only country where this is an issue.&#8221;
&#8220;We need men and women in Congress in both houses to have the fortitude to take on the NRA.&#8221;
Sharpton pointed out during the interview that Woodfin had not so long ago held a press conference last week over a series of shootings in which two children were traumatized on Mother&#8217;s Day.
As highlighted by <a href="https://time.com/6979795/trump-receives-nra-endorsement-urges-gun-owners-vote/">Time</a>, Trump, during his address to the NRA&#8217;s annual meeting in Texas, encouraged gun owners to participate in the 2024 elections. The NRA had officially endorsed Trump shortly before his speech.
Trump stated that the Second Amendment &#8220;is very much on the ballot&#8221; in November and cautioned that if President Joe Biden is re-elected, &#8220;they are coming for your guns, 100% certain.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38890222/biden-hands-out-big-l-to-trump-as-dow-hits-40k-for-first-time-and-ex-presidents-stock-market-cra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Hands Out &#8216;Big L&#8217; To Trump As Dow Hits 40K For First Time And Ex-President&#8217;s Stock Market Crash Prediction Falls Flat</a>
The Biden administration has initiated several measures to tackle gun violence, including a new rule to close a loophole that allows unlicensed dealers to sell thousands of guns annually without conducting background checks.
Despite the backlash, Trump has vowed to continue defending the Second Amendment, which he believes is &#8220;under siege&#8221;. He has also referred to himself as &#8220;the best friend gun owners have ever had in the White House&#8221;.
Why It Matters: Trump&#8217;s endorsement by the NRA and his call to gun owners to <a href="https://www.benzinga.com/news/24/05/38909755/donald-trump-for-third-term-ex-president-floats-controversial-idea-at-nra-convention">vote in the 2024 elections</a> comes amidst speculation about his potential third term in office. Trump hinted at a possible third-term presidency during his NRA address, drawing comparisons to Franklin D. Roosevelt&#8217;s four-term tenure. This has sparked controversy, considering the 22nd Amendment forbids a third-term presidency.
Read Next: <a href="https://www.benzinga.com/news/24/05/38887597/marjorie-taylor-greene-ally-thomas-massie-introduces-end-the-fed-bill-to-abolish-the-us-central-bank?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Ally Thomas Massie Introduces &#8216;End The Fed&#8217; Bill To Abolish The US Central Bank: &#8216;Americans Are Suffering Under Crippling Inflation&#8217;</a>
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'Sickening' — Trump's NRA Endorsement Slammed By Birmingham Mayor

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares increased 30.10% following <a href="https://www.benzinga.com//node/38848026" target="_blank" rel="noreferrer noopener">a rise in the price of Bitcoin</a>.</li>
<li>Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) shares jumped 25.97% following better-than-expected Q1 financial results and a Q2 FY24 <a href="https://www.benzinga.com//node/38844489" target="_blank" rel="noreferrer noopener">revenue guidance above estimates</a>. Several analysts boosted price <a href="https://www.benzinga.com//node/38870880" target="_blank" rel="noreferrer noopener">targets for the company</a>.</li>
<li>On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) shares soared 15.02% after it reported better-than-expected financial results, and analysts raised <a href="https://www.benzinga.com//node/38848321" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) shares rose 13.99% following a Q1 revenue beat, and Tiger Global increased <a href="https://www.benzinga.com//node/38818138" target="_blank" rel="noreferrer noopener">its stake in the company</a>.</li>
<li>Insulet Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) shares surged 12.81%, even though short-seller Blue Orca Capital announced it had taken a&nbsp;<a href="https://www.benzinga.com//node/38826162" target="_blank" rel="noreferrer noopener">short position in its stock</a>.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares increased 11.69% after the company declared that it is expanding its server portfolio with performance and <a href="https://www.benzinga.com//node/38823833" target="_blank" rel="noreferrer noopener">efficiency upgrades to the Dell PowerEdge</a>. Morgan Stanley raised the <a href="https://www.benzinga.com//node/38852211" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Vodafone Group Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOD#NASDAQ">VOD</a>) stock upped 10.75% after the company reported<a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">&nbsp;full-year financial results</a>.</li>
<li>Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) shares increased 9.69% after the company reported mixed Q1 financial results, and <a href="https://www.benzinga.com//node/38841656" target="_blank" rel="noreferrer noopener">analysts boosted their forecasts</a>.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares increased 9.54% following gaining momentum <a href="https://www.benzinga.com/news/24/05/38808523/the-8-silent-billionaires-cashing-in-on-the-ai-boom-besides-nvidias-jensen-huang-and-openais-sam-alt" target="_blank" rel="noreferrer noopener">at the start of the week</a>.</li>
<li>Corebridge Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>) shares rose 5.60% after American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) reached a deal to sell shares of its stock in the company to <a href="https://www.benzinga.com//node/38874554" target="_blank" rel="noreferrer noopener">Nippon Life Insurance</a>.</li>
</ol>
Read Next: <a href="https://www.benzinga.com/news/24/05/38779419/these-10-large-cap-stocks-shined-brightest-last-week-may-5-may-11-2024-are-they-in-your-portfolio">These 10 Large Cap Stocks Shined Brightest Last Week (May 5-May 11, 2024): Are They In Your Portfolio?</a>

Large Cap

CRBG

DELL

MNDY

MSTR

ONON

PODD

SMCI

MicroStrategy Was The Best Among These 10 Large-Cap Stocks Scoring Big Last Week (May 12-May 19, 2024): Are They In Your Portfolio?

These&nbsp;10&nbsp;large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>NICE Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>) shares tumbled 15.60% after the company reported&nbsp;Q1&nbsp;financial results and issued&nbsp;Q2&nbsp;adjusted revenue&nbsp;guidance&nbsp;<a href="https://www.benzinga.com//node/38866576" target="_blank" rel="noreferrer noopener">with its midpoint below estimates</a>.&nbsp;</li>
<li>Petroleo Brasileiro S.A.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>) shares plummeted 13.03% after&nbsp;<a href="https://www.benzinga.com//node/38818917" target="_blank" rel="noreferrer noopener">Q1 sales missed consensus</a>. Also, Brazil&#8217;s President Luiz Inacio Lula da Silva fired CEO&nbsp;Jean Paul&nbsp;Prates following a dispute&nbsp;<a href="https://www.benzinga.com//node/38850433" target="_blank" rel="noreferrer noopener">over the dividends</a>.&nbsp;</li>
<li>Comfort Systems USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) stock fell 8.37% in the last week.</li>
<li>Li Auto Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares fell 7.64%, possibly in reaction to reports that Biden is preparing tariffs on the&nbsp;<a href="https://www.benzinga.com//node/38813115" target="_blank" rel="noreferrer noopener">Chinese EV and solar sectors</a>.&nbsp;</li>
<li>Martin Marietta Materials, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>) shares fell 5.23%.</li>
<li>Vulcan Materials Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>)&nbsp;share&nbsp;were down 4.89%.</li>
<li>BioMarin Pharmaceutical Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) shares declined 4.47% after it planned to cut 170 jobs.</li>
<li>New Oriental Education &amp; Technology Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>)&nbsp;<a href="https://www.benzinga.com//node/38866634" target="_blank" rel="noreferrer noopener">shares fell 4.02% last week</a>.</li>
<li>Gold Fields Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares decreased 3.10% last week.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares were down 2.90% after GDP data came in worse than expected.</li>
</ol>
Read Next: <a href="https://www.benzinga.com/news/24/05/38779404/last-weeks-worst-performing-stocks-are-these-10-large-cap-stocks-in-your-portfolio-may-5-may-11-2024">Last Week&#8217;s Worst-Performing Stocks: Are These 10 Large-Cap Stocks In Your Portfolio? (May 5-May 11, 2024)</a>

BMRN

New Oriental Education & Technology Group

MUFG

NICE

RIVN

Li Auto Was One Of The Worst-Performing Stocks Last Week: Are These 10 Large-Cap Stocks Losers In Your Portfolio? (May 12-May 18, 2024)

The stock market has returned to its winning ways, with the <a href="https://www.benzinga.com/markets/equities/24/05/38902451/wall-street-jumps-back-to-record-highs-dow-hits-40-000-as-inflation-fears-recede-meme-stock-fren">major indices seeing a big lift </a>following a tame inflation report released last week. The continuation of the rally hinges on Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) first-quarter results due on Wednesday. On Friday, a strategist weighed on how the AI frontrunner&#8217;s earnings report will impact the broader market.
What Happened: &#8220;It will be an obvious disappointment and a negative shock if Nvidia &#8230; misses expectation,&#8221; <a href="https://x.com/LastCallCNBC/status/1791609033876517171">said</a> Fund Strat&#8217;s Tom Lee in a CNBC interview. The expectations are lofty, he added.
&#8220;I would think investors are going to be nervous but ultimately it would be, I think, a prelude to a market broadening because investors who own a lot of Nvidia might want to look for other stocks that are starting to show promise,&#8221; Lee said.
On the other hand, if Nvidia beats expectations, it will likely pull money off the sidelines and will likely again propel broadening of the market rally, the analyst said. 
&#8220;There have been other groups starting to participate like, energy, material this week,&#8221; he said.
Lee said he prefers a beat than a miss.
See Also:<a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks"> Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: Following Wednesday&#8217;s inflation data, the major indices — the tech-heavy Nasdaq Composite, the broader S&amp;P 500 Index and the 30-stock Dow Jones Industrial Average — all closed at all-time highs. They paused in the next session but not before hitting intraday highs. The Dow, a blue-chip average, settled above the 40,000 mark for the first time ever on Friday.
The uptrend is likely to be preserved, primarily due to the prospects of the Federal Reserve beginning to reverse its rate hikes in the second half.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/06/33004757/ai-gold-rush-triggers-onset-of-tech-bull-market-according-to-analyst-4th-industrial">The market rally seen in 2023 and so far this year has been led by tech stocks,</a> with AI being the main theme. Nvidia has been the torchbearer of the rapidly advancing AI revolution. The Jensen Huang-led company supplies high-performance accelerators to power most AI applications, training and inference.
Analysts, on average, expect the company to report earnings of $5.57, notably higher than the year-ago&#8217;s 98 cents per share, and revenue of $24.57 billion compared to $6.52 billion in the same period last year.
Nvidia ended Friday&#8217;s session down 1.99% at $924.79, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data. </a>The stock has added about 87% year-to-date. The SPDR S&amp;P 500 ETF Trust (SPY), an exchange-traded fund that tracks the broader S&amp;P 500 Index, settled Friday up 0.14% at $529.45.
Read Next: <a href="https://www.benzinga.com/money/how-to-buy-nvidia-stock">How To Buy Nvidia (NVDA) Stock</a>
Photo: Shutterstock

Analyst Color

NVDA

Will Nvidia's Earnings Stoke Market Rally Further? Strategist Weighs In: 'I Would Think Investors Are Going To Be Nervous'

Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) upcoming annual shareholder meeting, scheduled for June 13, is crucial as it will decide the fate of CEO Elon Musk&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36861662/jaw-dropper-tesla-analysts-investors-unpack-fallout-from-ceos-55b-pay-plan-collapse">2018 compensation package, which was nullified by a Delaware Chancery court in late January.</a> On Saturday, the billionaire weighed on what is at stake at the annual meeting.
What Happened: A Tesla influencer and investor going by the X handle @Teslaconomics said in a post that Tesla can &#8220;march on forward to become the largest company in the world&#8221; contingent on the following conditions:
<ul>
<li>Musk getting 25% voting power</li>
<li>Tesla being incorporated in Texas</li>
<li>Musk&#8217;s compensation package is approved</li>
</ul>
If these conditions are met, the AI &amp; robotics business will stay &#8220;within Tesla,&#8221; the influencer said.
&#8220;Yes,&#8221; Musk said in reply, concurring with the view.
<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">If Elon gets 25% voting power, Tesla is reincorporated in Texas, and compensation package is approved, then AI &amp; Robotics stays within Tesla and the company can march on forward to become the largest company in the world <a href="https://t.co/YRCFKeHENM">pic.twitter.com/YRCFKeHENM</a>
&mdash; Teslaconomics (@Teslaconomics) <a href="https://twitter.com/Teslaconomics/status/1791970668466315708?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need to Know About Tesla Stock</a> Why It&#8217;s Important: Incidentally, the influencer&#8217;s view was an echo of what Musk himself said in mid-January. In a post, the Tesla chief said he wouldn&#8217;t be comfortable growing Tesla to be a leader in AI &amp; robotics without a 25% voting control in the company. &#8220;Enough to be influential, but not so much that I can't be overturned,&#8221; he said.</figcaption></figure>
Musk also warned that, if that were not the case, he would prefer to build products outside of Tesla. He also clarified that he wouldn&#8217;t be motivated with just stock ownership. 
&#8220;Fidelity and other own similar stakes to me. Why don't they show up for work?&#8221; he asked.
Meanwhile, in the proxy statement filed with the SEC, Tesla has sought reapproval of Musk&#8217;s compensation package and the shifting of the state of incorporation from Delaware to Texas. Amid criticism over the CEO pay plan, the company has recently intensified efforts to secure shareholder backing for it.
As its core EV business suffers, Tesla has shifted its focus toward the robotaxi business, which rides on the back of the company&#8217;s self-driving software. The robotaxi business and the high-margin revenue stream from the sale of the FSD are seen as near-term life buoys that can lift the company out of the fundamental rut. The company plans to <a href="https://www.benzinga.com/news/24/04/38511333/tesla-ceo-elon-musk-reveals-sentimental-reason-behind-88-robotaxi-unveil-lucky-number-in-china-birth">unveil the robotaxi on Aug. 8.</a>
Tesla ended Friday&#8217;s session up 1.50% at $177.46, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38907618/tesla-sweats-over-approval-of-elon-musks-pay-plan-fords-distress-call-to-suppliers-">Tesla Sweats Over Approval Of Elon Musk&#8217;s Pay Plan, Ford&#8217;s Distress Call To Suppliers, Faraday Future&#8217;s Mouthwatering Rally And More: Biggest EV Stories Of The Week</a>
Photo: Shutterstock

Make Tesla Great Again? Elon Musk Concurs With Steps To Transform EV Maker Into Top Global Company

In what could be a good tiding for <a href="https://www.benzinga.com/topic/big-banks">big banks,</a> a report on Sunday indicated that regulators are considering significantly reducing the proposed increase in capital requirements.
What Happened: The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are working on a plan to bring down the nearly 20% increase in mandated capital increase for the biggest U.S. banks, the Wall Street Journal reported, citing people familiar with the matter.
They &#8220;are still negotiating substantive and technical revisions, and there is no guarantee that a deal will come together. It also could be late this year before any plan is ready,&#8221; the report said.
The rumored development comes after big bank CEOs, led by JPMorgan Chase &amp; Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) Jamie Dimon, lobbied with Fed governors, including Chair Jerome Powell, to alter the capital rules proposed by Michael Barr, the central bank's vice chair for banking supervision.
The bankers tried to exploit the internal disagreement and concern within the seven-member Fed board over the regulatory proposals. 
Dimon, in particular, was scathing in his attack of the proposal, the report said. Calling Barr&#8217;s proposal &#8220;flawed and poorly calibrated,&#8221; he reportedly urged other governors to speak out.
&#8220;What person, in what ivory tower thinks that that is a rational thing to do? I'd like to know what the other governors think,&#8221; he reportedly said at a conference in September. Big bank chiefs met with Powell more than a dozen times between July 2023 and March, while Barr met with them 15 times, the report said, citing the Fed&#8217;s public calendar.
See Also: <a href="https://www.benzinga.com/money/best-bank-stocks">Best Bank Stocks</a>
Biggest Regulatory Fight: The proposed rules are among the final efforts taken by global regulators in an attempt to avert a repeat of the 2008-2009 financial crisis, the Journal said. The intent is two-fold — to boost the resilience of the banking system and to guard against a taxpayer-backed bailout. Additionally, the Fed is eyeing mitigation of other risks, including the potential to lose money from cyberattacks. 
The release of the proposals in July saw one of the biggest regulatory fight in at least a decade, the report said. Big banks lobbied hard and were reportedly supported by a slew of lawmakers and others, including affordable-housing advocates. Their efforts included airing pricey television ads during National Football League games warning of dire economic consequences. 
Goldman Sachs specifically spent millions on its own advocacy campaign. The Financial Services Forum, which represents the eight largest U.S. banks, also asked its members to chip in $2 million apiece on another ad campaign.
One area of dissent amid the negotiations is how banks accounted for the value of their trading positions and other capital-markets activities. While Powell and other Fed officials are for reducing the capital reserves tied to such activities, the other two agencies were reluctant to do so.
If the FDIC and OCC have their way, Fed officials will want to compensate with cuts elsewhere, the report said.
Capital requirements are&nbsp;regulatory standards for banks that determine how much liquid capital they must keep on hand, relative to their overall holdings.&nbsp;
The norms for banks with $100 billion or more in total consolidated assets is:
<ul>
<li>Minimum common equity tier 1 capital ratio requirement of 4.5% </li>
<li>Stress capital buffer requirement determined from the supervisory stress test results of least 2.5% </li>
<li>If applicable, a capital surcharge of 1% for global systemically important banks</li>
</ul>
Higher capital norms limit the ability of the bank to lend or invest and increase the cost of funds for banks. On the other hand, in the eventuality of a distressing situation, these reserves come in handy to keep them afloat.
The Themes Global Systemically Important Banks ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIB#NASDAQ">GSIB</a>) ended Friday&#8217;s session up 0.65% at $30.33, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/23/10/35108517/jpmorgan-ramps-up-securitization-ahead-of-anticipated-capital-requirements">JPMorgan Ramps Up Securitization Ahead Of Anticipated Capital Requirements</a>
Photo: Shutterstock

GSIB

Jamie Dimon's Lobbying Pays Off? Report Says Regulators Contemplate Significant Reduction In Proposed Capital Norms Increase For Big Banks

The future of the Donald Trump hush-money trial is largely dependent on one key piece of evidence: People&#39;s Exhibit 35, a document that both the prosecution and <a href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc">defense are using to build their respective cases.</a>
What Happened: People&#39;s Exhibit 35 is a one-page bank statement from October 2016 for &quot;Essential Consultants,&quot; an LLC managed by Michael Cohen, a crucial prosecution witness.
The statement reveals that Cohen transferred $130,000 of his funds to a lawyer representing adult film actress Stormy Daniels just 11 days before the 2016 election. This payment is the hush money at the heart of the trial, according <a href="https://www.businessinsider.com/donald-trump-hush-money-trial-case-evidence-michael-cohen-payment-2024-5">to</a> Business Insider.&nbsp;
The document also indicates that Trump&#39;s former chief financial officer, Allen Weisselberg, calculated the amount owed to Cohen.
This sum was allegedly illegally doubled to account for income taxes and then allegedly illegally reimbursed.
The defense maintains that Trump was too preoccupied with running the country in 2017 to have been involved in the year&#39;s worth of bogus &quot;retainer&quot; reimbursement checks to Cohen, Business Insider noted.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37574250/millions-of-americans-are-considering-a-mass-exodus-if-donald-trump-wins-again-says-report" target="_blank">Millions Of Americans Are Considering A Mass Exodus If Donald Trump Wins Again, Says Report</a>
To link Trump to the alleged scheme, the jury must trust Cohen, who claimed that he and Weisselberg presented this document to Trump&#39;s office in mid-January 2017, the outlet added.&nbsp;
The defense has disputed&nbsp;that this meeting took place and has asserted&nbsp;that Cohen and Weisselberg are solely responsible for any falsified documents.
Why It Matters: This trial, which began on April 15, is Trump&#39;s first encounter with criminal proceedings, with allegations centered on a <a href="http://www.benzinga.com/news/24/04/38131688/donald-trumps-legal-team-again-argues-for-judges-recusal-in-high-profile-hush-money-case">2016 payment made to silence Daniels</a>. Trump&#39;s legal team had previously obtained over 30,000 emails aimed at undermining Cohen&#39;s credibility in the <a href="http://www.benzinga.com/news/24/03/37768666/donald-trump-outmaneuvered-manhattan-da-by-gaining-access-to-michael-cohens-emails-heres-what-will-h">trial by appealing directly to federal authorities</a>. Furthermore, Cohen accused Trump of attempting to incite his supporters to harass and intimidate legal figures involved <a href="http://www.benzinga.com/news/24/03/38012844/amid-donald-trumps-attacks-on-judges-and-prosecutors-michael-cohen-says-ex-president-is-trying-to-fu">in his trials by publicly criticizing them</a>.
The trial is set to continue with closing arguments expected next week. If convicted of felony falsification of business records, Trump could face a prison sentence of up to&nbsp;four years.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/37574720/despite-lead-over-joe-biden-donald-trump-is-falling-behind-in-one-respect-when-it-comes-to-battlegro" target="_blank">Despite Lead Over Joe Biden, Donald Trump Is Falling Behind In One Respect When It Comes To Battleground States</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

This Important Evidence Could Determine Donald Trump's Fate In His Hush-Money Trial

Cannabis plants interspersed with thousands of tulips all sprung up together in the garden in front of Wisconsin's state capitol building to the surprise, or delight, of many passersby. Authorities say it was not the result of someone haphazardly tossing a few weed seeds into the colorful tulip patch, which is a popular spring tourist attraction.
More than 25,000 tulips spectacularly spring to life, en masse, in the gardens surrounding&nbsp;the Wisconsin state Capitol.
Tatyana Warrick, a spokeswoman for the Wisconsin Department of Administration, told The Associated Press in an email Friday that workers removed the cannabis plants but that she and her agency couldn&#8217;t quite figure out if they were marijuana or hemp.
Botanist Weighs In
University of Wisconsin-Madison botanist Shelby Ellison, who examined the plants before they were removed, told local TV station <a href="https://www.wmtv15news.com/2024/05/17/cannabis-spotted-near-wisconsin-state-capitol/?utm_source=lakelandtoday.ca&amp;utm_campaign=lakelandtoday.ca%3A%20outbound&amp;utm_medium=referral">WMTV</a> that they were cannabis plants. But then <a href="https://www.lakelandtoday.ca/world-news/up-in-smoke-workers-remove-dozens-of-apparent-marijuana-plants-from-wisconsin-capitol-tulip-garden-8765049">she told AP</a> that she couldn&#8217;t say for certain whether they were marijuana or hemp. Hemp and marijuana are the same plant, with a major difference being that hemp is a mixture of male and female cannabis plants and its flowers produce less than 0.3% THC. Hemp plants also tend to be taller and contain more fiber in their stalks.
But Ellison did confirm the obvious: someone planted them intentionally. "It was just a large number of plants for it to be anything accidental," she said. 
NIH Weighs In
Naturally, the weed plants were all ripped out and destroyed. Interestingly, a <a href="https://pubmed.ncbi.nlm.nih.gov/34362475/#:~:text=Indoor%20cannabis%20cultivation%20is%20energy,absorb%20and%20store%20heavy%20metals.">National Institutes of Health</a> (NIH) study concluded several years ago that cannabis cultivation can directly contribute to soil erosion and has the ability to absorb and store heavy metals.
But, alas, Wisconsin is among the <a href="https://www.benzinga.com/markets/cannabis/24/05/38679143/ho-chunk-nation-decriminalizes-cannabis-on-its-land-in-wisconsin-viewed-as-an-island-of-prohibit">very few U.S. states</a> where cannabis remains illegal in all forms, though Gov. Tony Evers (D) has been a <a href="https://www.benzinga.com/markets/cannabis/24/01/36514923/wisconsin-gov-evers-will-support-the-gops-limited-medical-marijuana-proposal-as-long-as-its-reas">vocal advocate</a> of legalizing medical and adult-use marijuana. Assembly Republicans introduced a bill in the last session that would have legalized medical marijuana, but they couldn&#8217;t gather enough support for the measure to even get a hearing.
Photo courtesy of Wisconsin state capitol

Cannabis

Government

Tiptoe Through The 25,000 Tulips, But Watch Out For Cannabis Plants In Wisconsin's Capitol Building Garden

The campaign for President Joe Biden has declined two additional debates proposed <a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi">by the campaign for former President Donald Trump.</a>
What Happened: The Biden campaign rejected the proposed debates on Friday. The debates were to be hosted by NBC News and Telemundo, and Fox News at Virginia State University, respectively.
Trump had accepted the debates, aiming to reach larger Latino and Black audiences. This move was perceived as a challenge to the Biden campaign, which has been&nbsp;struggling to connect with the&nbsp;communities, <a href="https://www.nbcnews.com/politics/2024-election/biden-rejects-debates-trump-nbc-telemundo-fox-news-rcna152860">reported&nbsp;</a>NBC News.&nbsp;
A Biden campaign official stated, &quot;The debate about debates is over. No more games.&rdquo;
The Trump campaign criticized Biden&#39;s decision, alleging that Biden&#39;s team was afraid to let the president&nbsp;defend his record.
&quot;The Telemundo/NBC debate would be widely watched by Hispanic voters, but Biden&rsquo;s handlers are petrified to allow him to defend his disastrous record,&quot; Danielle Alvarez, a&nbsp;campaign spokeswoman, said. &quot;Crooked Joe Biden is too &#39;cobarde&#39; to address the Hispanic community and answer for his failures on the debate stage!&quot; Earlier this week, the Trump and Biden campaigns bypassed the traditional process run by the Commission on Presidential Debates and agreed to two presidential debates.
CNN will host one in Atlanta on June 27 and&nbsp;ABC News will host another on Sept. 10, the location of which has yet to be determined.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38909495/ivanka-trump-could-back-in-the-political-limelight-as-donald-trumps-influence-grows-report">Ivanka Trump Could Back In The Political Limelight As Donald Trump&#39;s Influence Grows: Report</a>
The Biden campaign also accepted an offer for a vice presidential debate hosted by CBS News, but the Trump campaign has not yet confirmed its participation.
Why It Matters: This development follows a series of events that have shaped the current political landscape. Trump had made an unusual demand, insisting that <a href="http://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb">Biden undergo a drug test</a>&nbsp;ahead of their debates scheduled for June and September. The former president claimed that Biden was under the influence of drugs during his State of the Union address in March.
Furthermore, <a href="http://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race">Biden has&nbsp;been gaining ground against Trump</a> in six pivotal swing states, marking a significant shift in the electoral landscape. This surge for Biden emerged after five months during which Trump consistently led. The momentum shift started following a State of the Union address that not only unified Democrats but also alleviated some concerns regarding Biden&rsquo;s age.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37299651/trump-vs-biden-poll-shows-one-candidate-holding-slim-advantage-over-another-in-hypothetical-matchup" target="_blank">Trump Vs. Biden: Poll Shows One Candidate Holding Slim Advantage Over Another In Hypothetical Matchup</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden's Campaign Shuts Down Trump's Challenge For Additional Debates: 'The Debate About Debates Is Over, No More Games'

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>Bowhead Specialty Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOW#NYSE">BOW</a>) becomes publicly listed starting on May 23, 2024. The company has a price range set between $14.00 and $16.00 with a 180-day lockup period. Bowhead Specialty Holdings Inc will be offering 6,667,000&nbsp;shares at a per-share value of $15.00.</li>
<li>Kayne Anderson BDC, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBDC#NYSE">KBDC</a>) will be trading publicly starting on May 22, 2024. Kayne Anderson BDC, Inc will be offering 6,000,000&nbsp;shares at a per-share value of $16.63 with an insider lock-up period of 180 days.</li>
</ul>
<h3>Breaking Down IPOs</h3>
Initial public offerings, or IPOs, are the transitional processes of private companies deciding to go public and offer shares to investors on exchanges. IPOs typically offer companies the ability to build capital by distributing shares across the market. A company interested in becoming publicly tradeable must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

IPOs

KBDC

A Look At Upcoming IPOs For The Week

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is currently going through harrowing times, dealing with an <a href="https://www.benzinga.com/news/24/04/38257532/tesla-stock-tumbles-as-category-5-demand-storm-persists-whats-going-on">inclement economic environment and rising competition.</a> Amid these trying times, CEO Elon Musk on Saturday lamented about &#8220;naysayers&#8221; who wished that the company go down.
What Happened: A Tesla investor shared his grievance regarding so much hate toward the electric vehicle maker. &#8220;The number of people that wish $TSLA (a US company) to go bankrupt and would rather see BYD (a Chinese company) thrive and win is concerning, absurded, and backwards,&#8221; the investor said on X, formerly Twiter.
He also noted that China wants Tesla to succeed, referring to the company&#8217;s success in China despite strong domestic competition and the country&#8217;s recent favorable stance towards the rollout of Tesla&#8217;s full self-driving technology.
Reacting to the comment, Musk said, &#8220;The Tesla naysayers are loud, but are rare outside of hedge fund short sellers and far left activists. And, of course, our amazing President.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Tesla naysayers are loud, but are rare outside of hedge fund short sellers and far left activists. And, of course, our amazing President &#x1f60d;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791917896991678640?ref_src=twsrc%5Etfw">May 18, 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/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: Musk and Biden have not shared a cordial relationship, with the president repeatedly snubbing the latter at electric vehicle summits organized by the White House. Biden, while applauding General Motors and Ford, has never openly acknowledged Tesla's role in spearheading the EV revolution in the U.S.
That said, the <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">Biden administration recently announced 100% tariffs on Chinese EV imports</a> even as companies from the Asian nation have been striving to get around the import curbs by setting up shop in Mexico.
The billionaire, on his part, has been very vocal in criticizing the president for his lack of mental acuity. In a separate post on Sunday, he took a swipe at the president for reading off a teleprompter. When one of his followers shared a video clip of the president&#8217;s speech, Musk said, &#8220;Whoever controls the teleprompter is the real president.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whoever controls the teleprompter is the real president
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791916305651794215?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Musk has also criticized the president&#8217;s immigration policy and has been open about his right-leaning political views.</figcaption></figure>
Tesla&#8217;s flailing fundamentals and the management&#8217;s strategic decisions have earned it the displeasure of even bulls such as Future Fund&#8217;s Gary Black. The company has a great test coming up as shareholders are due to vote on reapproving Musk&#8217;s 2018 compensation plan, which legal experts believe may have to pass unanimously, given it is pay for past work.
Tesla ended Friday&#8217;s session up 1.50% at $177.46, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38907618/tesla-sweats-over-approval-of-elon-musks-pay-plan-fords-distress-call-to-suppliers-">Tesla Sweats Over Approval Of Elon Musk&#8217;s Pay Plan, Ford&#8217;s Distress Call To Suppliers, Faraday Future&#8217;s Mouthwatering Rally And More: Biggest EV Stories Of The Week</a>
Photo: Shutterstock

Elon Musk Counts 'Amazing' President Joe Biden Among Tesla 'Naysayers' Who Wish To See The EV Maker Go Bankrupt

U.S. IPO Weekly Recap: Flurry Of IPOs Raise Over $1.3 Billion, Led By Cybersecurity Unicorn Rubrik

Shares of the data management company Rubrik outperformed in their market debut. The Microsoft-backed company opened at $38.60, which was above the expected price range of $28-$31.

Rubrik Jumps 20% In Market Debut

Lichen China, VirTra, Intelligent Group among industrial movers

AIRI

CACO

FINR

KMCM

LOAR

MAMO

MSFT

RBRK

SHIM

TPIC

VTSI

YYGH

ZBAO

Press Releases

CleanCore Solutions, Inc. Announces Pricing of Initial Public Offering and NYSE American Listing

CleanCore Solutions, Inc. Provides Corporate Update and Announces the Appointment of Leading Industry, Capital Markets and Corporate Finance Veterans to the Board of Directors

CleanCore Solutions, Inc. Announces Closing of Initial Public Offering

CleanCore Solutions Expands Relationship with Harry Reid International Airport with Installation of Additional Power Caddy Units Following Successful Pilot