Donald Trump <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">has secured a win</a> over his Democrat-rival Kamala Harris in the 2024 U.S. presidential election, declared the Associated Press.



What Happened: On Tuesday, voters cast their ballots in a highly anticipated election, with Trump emerging victorious after a tense and closely-watched presidential election.&nbsp;



Sen. JD Vance (R-Ohio) is the new Vice President-elect. Vance is a Marine veteran and the author of the book "Hillbilly Elegy."



Trump secured 70,847,899 votes (51%) and 267 electoral votes, while Harris garnered 65,935,467 votes (47.5%) and 224 electoral votes. 



In the crucial battleground states of Georgia, North Carolina, and Pennsylvania, Trump managed to secure key victories, gaining 16 electoral votes from each of Georgia and North Carolina, and 19 electoral votes from Pennsylvania.



In Arizona, Michigan, and Wisconsin, <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">Trump overtook Harris in tight races, </a>further solidifying his path to victory.



Although Nevada&#8217;s results are still pending, Trump is projected to perform well there based on current trends, helping him clinch enough electoral votes to win the presidency.



Meanwhile, for the first time in four years, Republicans have <a href="https://www.benzinga.com/news/24/11/41766513/trump-led-republicans-get-hold-of-us-senate-with-west-virginia-ohio-wins">regained control of the U.S. Senate,</a> securing a major power base in Washington.



This gives the GOP a pivotal role in confirming the new President's Cabinet and any potential Supreme Court nominations.



During the counting, Trump was initially at his residence in Mar-a-Lago, however as the results started coming in his favor, the President-elect decided to join his watch party at the convention center in West Palm Beach.



He was joined by former presidential candidate Robert F. Kennedy Jr. and Tesla and SpaceX CEO Elon Musk, among <a href="https://www.benzinga.com/news/24/11/41765354/trump-packs-in-crowds-while-harris-shuts-down-cnn-the-joy-has-left-the-building-no-plans-for-vp-to-s">other notable figures</a>.



Donald Trump Jr. also joined the watch party and was seen shaking hands with supporters and pumping his fists in the air.



On X, formerly Twitter, Melania Trump shared the image of Barron Trump voting for the first time. She captioned the post, "Voted for the first time &#8211; for his dad."



See Also: <a href="https://www.benzinga.com/news/24/11/41765113/elon-musk-tells-tucker-carlson-that-the-pressure-he-faced-for-shutting-down-x-pales-in-comparison-wi">Elon Musk Tells Tucker Carlson That The Pressure He Faced For Shutting Down X &#8216;Pales In Comparison&#8217; With What Trump Went Through</a>



Earlier in the day, the FBI also released a statement cautioning that fake bomb threats were made to polling stations in multiple states, with many of these seemingly originating from Russian email domains.



The bureau stated that none of the threats were deemed credible at the time.



Why it Matters: Trump and Harris&#8217;s 2024 presidential campaigns showcased contrasting strategies and challenges.



Trump sought to reclaim the presidency, committed to replacing thousands of federal employees with loyal supporters, implementing extensive tariffs on both allies and adversaries, and initiating what would be the <a href="https://www.benzinga.com/startups/24/11/41722059/trumps-deportation-plan-faces-criticism-as-taxpayers-shoulder-the-billions-while-big-business-stands">largest deportation</a> effort in U.S. history.



Trump intends to <a href="https://www.benzinga.com/startups/24/10/41561517/trump-pushes-forward-with-controversial-tariff-plan-despite-growing-backlash-from-voters-who-strongl">implement a 20% tax on imports</a>, anticipating it will spark a U.S. manufacturing boom. His plan to <a href="https://www.benzinga.com/news/24/10/41642184/bernie-sanders-says-trumps-plan-to-eliminate-all-income-taxes-is-insane-economics-will-trigger-the-b">eliminate all income taxes</a> has come under criticism from liberals like Sen. Bernie Sanders (I-Vt.), who called it "insane economics."



The first Trump presidency, which lasted from Jan. 20, 2017, to Jan. 20, 2021, was marked by political and social upheaval as it saw the implementation of major tax cuts, aggressive deregulation efforts, and a controversial immigration policy.



During his earlier term, Trump also withdrew the U.S. from international agreements like the Paris Climate Accord and the Iran nuclear deal and recognized Jerusalem as Israel&#8217;s capital.



With this win, Trump has made history as the second president to serve non-consecutive terms, following Grover Cleveland, who held office from 1885 to 1889 and again from 1893 to 1897.



At 78, Trump has also become the oldest person ever elected to the presidency.



The President-elect is also the first convicted felon to hold office while under legal indictment, and the only president to face impeachment twice during his time in office.



Meanwhile, Harris had pledged to collaborate with both parties to address economic concerns and other pressing issues, maintaining much of the direction established by President Joe Biden.



Had she won, Harris would have made history as the first female president of the U.S. and the first person of South Asian descent to hold the office.



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



Image via Flickr



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Politics

Global

Donald Trump Defeats Kamala Harris To Win 2024 Election

Trump Media &amp; Technology Group Corp. saw a notable 33.77% rise to $45.40 in pre-market trading on Wednesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. The company was co-founded by the former president.



With the election results unfolding, Donald Trump is just three seats away from securing a majority. This political development has evidently impacted the stock&#8217;s performance, mirroring investor sentiment and market speculation.



See Also: <a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>



Moreover, on the trading platform Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), DJT shares experienced a significant surge of 54.86%. 



The spike in pre-market hours comes despite its third-quarter net sales falling by 6% and standing at $1.01 million. The company posted a loss of 10 cents per share, an improvement from the 30 cents per share loss recorded in the third quarter of last year.



If Trump wins he would become the first president to win another term after a defeat in 132 years.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/24/11/41733899/trump-woos-muslim-voters-says-hes-building-the-biggest-and-broadest-peace-coalition-kamala-and-her-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Woos Muslim Voters, Says He&#8217;s &#8216;Building The Biggest And Broadest&#8217; Peace Coalition: &#8216;Kamala And Her Warmonger Cabinet Will Invade The Middle East&#8217;</a></li>
</ul>



Image via Shutterstock



Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Equities

Pre-Market Outlook

Markets

General

HOOD

Trump Media Stock (DJT) Jumps 33.77% In Pre-Market As Ex-President Inches Closer To White House Victory

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are up by over 13% in pre-market trading on Wednesday over a likely Donald Trump victory in the <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">U.S. Presidential elections</a>.



What Happened: According <a href="https://www.nytimes.com/live/2024/11/05/us/trump-harris-election" target="_blank" rel="noreferrer noopener">to</a> The New York Times, Trump currently has over 95% chance of victory given he already has <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f" target="_blank" rel="noreferrer noopener">267 of the 270 electoral votes needed to win</a>.



At the time of writing, the Tesla stock was up 13.3% in premarket trading, at $284.90, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



Tesla CEO&nbsp;Elon Musk&nbsp;endorsed Trump in July and has been actively campaigning for the former President&nbsp;<a href="https://www.benzinga.com/news/24/11/41709658/stephen-king-slams-elon-musk-claims-most-of-his-posts-spread-pro-trump-disinformation-and-outright-l" target="_blank" rel="noreferrer noopener">both offline and online</a>. Musk even campaigned for Trump in the swing state of Pennsylvania in October.



Trump, meanwhile, has expressed his intent to set up a&nbsp;<a href="https://www.benzinga.com/government/24/09/40739165/trump-plans-to-appoint-elon-musk-to-government-efficiency-commission-if-elected-tesla-ceo-says-hell" target="_blank" rel="noreferrer noopener">government efficiency commission</a>&nbsp;led by Musk if elected President. The commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending reforms, Trump said in September.



According to&nbsp;Wedbush&nbsp;analyst&nbsp;Dan Ives, the&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi" target="_blank" rel="noreferrer noopener">biggest positive from a Trump win would be for Tesla and Musk</a>.



"We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage," Ives said on Wednesday. The analyst added that a Trump win could add $40-$50 to Tesla's stock.



Tesla&#8217;s Frankfurt-listed shares are also up by over 14.5%.



Price Action: Year-to-date, Tesla shares are up 1.2%, after the stock closed up 3.5% at $251.44 on Tuesday, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen" target="_blank" rel="noreferrer noopener">Elon Musk Rejects Rumors Of A Tesla Phone, But Says The EV Giant Will Have To Make One If This Happens</a></li>
</ul>



Photo courtesy: Tesla

WIIM

Tech

TSLA

Tesla Stock Surges Over 13% In Premarket: What Is Going On

Former President Donald Trump declared victory in the 2024 presidential election after winning <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">the key battleground states</a>. Trump, who was addressing his supporters in New York, also praised his running mate, JD Vance, and acknowledged the role of tech mogul Elon Musk in his campaign.



What Happened: Trump, in his victory speech, lauded his supporters for overcoming seemingly insurmountable challenges on Tuesday night. He expressed his determination to &#8220;fix everything about our country&#8221; and described his win as &#8220;the greatest political movement of all time.&#8221;



According to <a href="https://apnews.com/live/trump-harris-election-updates-11-5-2024">the</a> latest numbers from The Associated Press, Trump has 267 out of the 270 electoral votes needed for victory. The Republican party is currently leading in key states like Michigan and Wisconsin, which are yet to be called.



Trump secured a victory in Pennsylvania, earning 19 electoral votes after capturing over 51% of the vote in this pivotal swing state.



&#8220;I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president,&#8221; Trump said.



See Also: <a href="https://www.benzinga.com/news/24/11/41736493/microsoft-co-founder-bill-gates-says-everyone-in-future-will-have-a-utilitarian-ai-agent-that-will-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Co-Founder Bill Gates Says Everyone In Future Will Have A &#8216;Utilitarian AI Agent&#8217; That Will Help</a>



Trump also addressed the criticism faced by Vance, his vice-presidential pick, for comments that were perceived as hostile to women. Despite the initial backlash, Trump praised Vance&#8217;s intellect and called him a &#8220;feisty guy.&#8221;



Trump also celebrated his party&#8217;s victory in the U.S. Senate, which he believes will aid in confirming his Cabinet members and nominating judges.



Trump asserted that he had won both the popular vote and an Electoral College landslide with over 300 votes, although the final counts are still pending in several states.



Trump also acknowledged the support of his family and campaign team, and when asked about Musk, he hailed the tech mogul as a &#8220;new star&#8221; and an &#8220;amazing guy.&#8221;



Why It Matters: On election night, <a href="https://www.benzinga.com/markets/equities/24/11/41763478/trump-media-reddit-devon-energy-super-micro-computer-and-tesla-buzzing-among-investors-on-electi">Trump&#8217;s media company</a>, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), experienced a substantial surge in its shares, driven by the anticipation of the election results and the company&#8217;s third-quarter financial results.



Trump&#8217;s victory in the 2024 presidential race, including his win in the key swing state of North Carolina, has been a significant factor in the stock market&#8217;s movements.



The <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41765518/5-things-moving-as-trump-trade-fever-sweeps-wall-street-amid-election-night-drama">stock futures also experienced a rise</a> on election night. Futures associated with the Dow Jones Industrial Average increased by 739 points, or 1.74%, as of 2 a.m. ET. Futures linked to the S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) were up by 1.42%.



Treasury yields also<a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high" target="_blank" rel="noreferrer noopener">&nbsp;saw an increase in overnight trading&nbsp;</a>as investors evaluated the early results of the tight presidential race. The 10-year Treasury yield jumped 14 basis points to 4.431%, hitting its highest level since July 2.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a></li>
</ul>



Photo courtesy: Shutterstock

Trump Gives Victory Speech In Florida As Winning Pennsylvania Puts Him At Brink Of Victory, Vows To 'Fix Everything About Our Country'

Key indicators of the financial market&#8217;s health reacted as investors began to parse early results of the high-stakes presidential battle between Donald Trump and Kamala Harris.



What happened:&nbsp;



<ul>
<li>Stock futures edged higher on election night, with those tied to the Dow Jones Industrial Average lifting 277 points, or 0.67%, as of 9 p.m. ET. Futures linked to the S&amp;P 500 were up 0.55%.</li>
</ul>



<ul>
<li>Oil prices took a hit, with the U.S. West Texas Intermediate (WTI) falling 0.44% to $71.69 a barrel. Price rose 6%, however, in the week preceding the election.</li>
</ul>



<ul>
<li>Spot gold rose by 0.15% to $2,747.98 per ounce, with gold futures on the Commodity Exchange (COMEX) also climbing by 0.17%.</li>
</ul>



<ul>
<li>Currency traders picked up the greenback as the U.S. Dollar Index, or the DXY, rose 1.20% to climb above 104.&nbsp;</li>
</ul>



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41756625/will-donald-trump-prematurely-claim-victory-5-polymarket-markets-to-watch-on-election-nigh">Will Donald Trump Prematurely Claim Victory? 5 Polymarket Markets To Watch On Election Night</a>



Why It Matters: The moves come as Trump <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">won the red states of Kentucky, Florida and Indiana</a>, while Harris secured victory in Massachusetts, New Jersey, and New York.&nbsp;



The fight was getting tighter in battleground states, with Trump leading Georgia and Harris staying ahead in Pennsylvania, according to the Associated Press.



Leading cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also soared in anticipation of a Trump victory, with the apex cryptocurrency powering above $73,000.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>

$BTC

$ETH

Bitcoin Past $73K — Dollar, Gold, Stock Futures Rise As Trump-Harris Results Trickle In

On Election Day 2024, major U.S. indices ended on a positive note. As the election results began rolling in, Dow Futures jumped nearly 400 points. 



For the day, the Dow Jones Industrial Average rose 1.02% to close at 42,221.88, the S&amp;P 500 increased 1.23% to 5,782.76, and the Nasdaq climbed 1.4% to 18,439.17.



These are the top stocks that gained the attention of retail traders and investors throughout the day:



Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)



Trump Media&#8217;s stock saw a significant surge, closing the day with a decrease of 1.16% at $33.94. The stock&#8217;s intraday high and low were $40.74 and $31.45 respectively, with a 52-week range of $79.38 to $22.55. The <a href="https://www.benzinga.com/news/24/11/41763035/trump-media-stock-shoots-up-over-10-in-after-market-trading-as-ex-president-scores-victories-in-kent">substantial increase</a> in Trump Media's stock in the after-hours is driven by the ongoing U.S. elections and the third-quarter financial results.



Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)



Reddit&#8217;s stock closed the day with an increase of 12.58% at $122.57. The stock&#8217;s intraday high and low were $122.68 and $110.27 respectively, with a 52-week range of $123.6 to $37.35. Election day saw voters visiting polling locations and social media mavens <a href="https://www.benzinga.com/news/24/11/41761596/redditors-track-election-night-must-watch-threads-for-trump-vs-harris-showdown-other-races">sharing opinions</a> and local reports in megathreads, polls and comments on Reddit.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41704760/bitcoin-ethereum-dogecoin-reverse-as-trumps-odds-fall-on-betting-markets-trader-says-bull-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Reverse As Trump&#8217;s Odds Fall On Betting Markets: Trader Says &#8216;Bull Run Will Begin&#8217; For This Crypto After The Election</a>



Devon Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)



Devon Energy&#8217;s stock closed the day with an increase of 0.51% at $39.34. The stock&#8217;s intraday high and low were $39.59 and $38.79 respectively, with a 52-week range of $55.09 to $37.77. The company reported <a href="https://www.benzinga.com/news/earnings/24/11/41762517/devon-energy-q3-earnings-eps-beat-production-forecast-raise-and-more">third-quarter earnings</a> of $1.30 per share, beating analyst estimates of $1.14 per share.



Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)



Super Micro Computer&#8217;s stock closed the day with an increase of 6.42% at $27.70. The stock&#8217;s intraday high and low were $28 and $25.1 respectively, with a 52-week range of $122.9 to $23.9. The company&#8217;s stock <a href="https://www.benzinga.com/news/earnings/24/11/41750022/super-micro-computer-stock-is-in-the-spotlight-ahead-of-q1-earnings-whats-going-on">bounced back</a> after falling nearly 50% last week after the firm's independent auditor raised governance and transparency concerns. Super Micro Computer faced intense scrutiny ahead of its first-quarter earnings, with shares down amid governance issues, a key auditor's exit, and risks to its <a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41745935/super-micro-computer-posts-q1-earnings-are-delisting-fears-here-to-stay-or-can-the-stock">partnership with Nvidia</a>. Analysts remain cautious, citing transparency concerns and potential Nasdaq delisting.



Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)



Tesla&#8217;s stock closed the day with an increase of 3.54% at $251.44. The stock&#8217;s intraday high and low were $255.28 and $246.21 respectively, with a 52-week range of $273.54 to $138.8. CEO Elon Musk <a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen">refuted rumors</a> that the company is considering building a phone.



Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41734072/bitcoin-ethereum-slip-while-dogecoin-surges-ahead-of-presidential-election-analyst-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Slip While Dogecoin Surges Ahead Of Presidential Election; Analyst Predicts BTC Will Hit $100K+ Regardless Of Trump Or Harris Win</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

RDDT

SMCI

Trump Media, Reddit, Devon Energy, Super Micro Computer, And Tesla Buzzing Among Investors On Election Day

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) executive chair Jeff Bezos has sold off a significant chunk of his Amazon shares, according to a filing with the U.S. Securities and Exchange Commission.



What Happened: Bezos recently divested 1.07 million shares of Amazon stock at $200.07 per share, raking in approximately $213.8 million. As per the SEC filing on Tuesday, this transaction leaves Bezos with 926.41 million shares of the e-commerce giant.



Bezos isn&#8217;t the only Amazon insider to have sold shares recently. Director Jonathan Rubinstein also offloaded $1 million worth of shares, while Douglas Herrington, CEO of Worldwide Amazon Stores, sold $696,360 worth of Amazon shares.



See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">DJT Stock Volatile On Election Day: Donald Trump&#8217;s Media Company Reports Q3 Earnings, Growth Initiatives</a>



Why It Matters: Amazon&#8217;s stock remains a compelling investment opportunity, according to Bernstein analyst Mark Shmulik. Shmulik maintained an &#8220;Outperform&#8221; rating on the stock with a $235 price target, citing Amazon&#8217;s promising future despite <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41737293/amazon-stock-buy-now-pay-off-later-says-analyst">planned infrastructure spending</a>.



Amazon&#8217;s strong performance has also attracted the attention of prominent investor Cathie Wood, who recently <a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-">made significant trades</a> in the company&#8217;s stock. 



The company recently reported third-quarter net sales of $158.9 billion, surpassing expectations and marking an 11% increase from the previous year. This positive performance has contributed to a rise in Amazon&#8217;s stock price, which saw a significant uptick <a href="https://www.benzinga.com/news/24/11/41688665/amazon-posts-upbeat-results-joins-cardinal-health-waters-atlassian-charter-communications-mastec-and">following the earnings announcement</a>.



Price Action: Amazon stock closed at $199.50 on Tuesday, rising by 1.90% during the day. In after-hours trading, the stock dipped 0.20%. Year-to-date, Amazon&#8217;s stock has seen substantial growth, up by 33.06%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41734592/palantir-trump-media-hims-hers-health-nxp-semiconductors-and-tesla-why-these-5-stocks-are-on-inv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">PLTR, DJT, HIMS, NXPI, TSLA: Top 5 Trending Stocks Today</a></li>
</ul>



Image via Flickr/ Daniel Oberhaus



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

Jeff Bezos Sells $214M Worth Of Amazon Shares In Latest Stock Move, Here's How Much He Still Owns

Editor&#8217;s Note: This article has been updated with the latest developments.



As polls begin to close for the 2024 presidential election, the nation waits to see if Donald Trump or Kamala Harris will secure a historic victory.



Trump has secured Kentucky and Indiana, while Harris has won Vermont, <a href="https://decisiondeskhq.com/results/2024/General/President/">according</a> to the Associated Press. With 34% of votes counted in Kentucky, Trump leads with 64.6%. In Indiana, with 24% of votes counted, Trump holds 64%. Meanwhile, with 20% of Vermont&#8217;s votes tallied, Harris has 69%.



In Kentucky, Trump received the endorsement of Senate GOP Leader Mitch McConnell (R-Ky.) despite their previous differences over the Jan.6 Capitol Riots, noted AP.



Vermont is considered a Democrat stronghold and the state&#8217;s Republican Governor Phil Scott voted Democrat in this election, according to the report.



Trump&#8217;s former Vice President and former Indiana Governor Mike Pence <a href="https://www.benzinga.com/news/24/03/37764902/no-surprise-former-trump-ally-refuses-to-endorse-ex-president-in-2024-cites-differences-in-conservat">did not endorse</a> him in the 2024 run but the Hoosier State is a reliable GOP stronghold where the party has held the governor&#8217;s office for the past two decades.



West Virginia voted for Trump for the third straight presidential election cycle as well. No democrat has won the presidential election in the state since Bill Clinton in 1996, according to AP.



Florida, the third-largest prize of the night in electoral votes, delivered a predictable victory for Trump, as the state has trended Republican over the past decade, noted AP.



The last Democrat to carry Florida was Barack Obama in 2012, but since then, the state has solidified its shift toward the GOP in statewide elections.



The rejection of the abortion rights measure marks Florida as the first state where such a proposal has failed since the overturning of Roe v. Wade in 2022. The initiative sought to prevent lawmakers from imposing abortion restrictions before viability or when necessary to protect the health of the patient.



Trump&#8217;s victory in Georgia marks the state&#8217;s shift from the 2020 election results, becoming the first to flip.



Key Battleground States



As of early morning updates, Trump holds leads in multiple battleground states, with notable margins in some areas:



<ul>
<li>Georgia: Trump leads by 2% with 93% of votes counted.</li>



<li>North Carolina: Trump has a 3% lead with 92% of the vote in.</li>



<li>Florida: Trump holds a substantial 13% lead, with 98% of votes counted.</li>



<li>Maine's 2nd Congressional District: Trump leads by 11% with 45% reporting.</li>



<li>Pennsylvania: Trump leads by 3% with 86% of votes counted.</li>



<li>Arizona: Trump has a narrow lead of less than 1% with 51% of votes tallied.</li>



<li>Michigan: Trump is ahead by 6% with 53% counted.</li>



<li>Wisconsin: Trump leads by 4% with 81% of votes counted.</li>
</ul>



On the Democratic side, Nebraska's 2nd Congressional District shows Harris in the lead by 8% with 84% of votes counted.



"We still have votes to count. We still have states that have not been called yet. We will continue overnight to fight to make sure that every vote is counted," Cedric Richmond, Harris' campaign co-chair, said on Tuesday, according to AP. "So you won't hear from the vice president tonight, but you will hear from her tomorrow."



Next: 



<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41760961/djt-stock-volatile-on-election-day-donald-trumps-media-company-reports-q3-earnings-growth-initiativ">DJT Stock Volatile On Election Day: Donald Trump&#8217;s Media Company Reports Q3 Earnings, Growth Initiatives</a></li>
</ul>



Image via Wikimedia Commons



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Trump Wins Georgia, Leading In Key Battleground States Of Michigan, Pennsylvania, Arizona — Harris Campaign Co-Chair Addresses Demoralized Election Watch Party (UPDATED)

Leading cryptocurrencies jumped as polls began to close in the high-stakes presidential election between Donald Trump and Kamala Harris.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 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>+4.68%</td><td>$71,154.46</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.23%</td><td>$2,460.12</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+8.20%</td><td>$0.1763</td></tr></tbody></table></figure>



What Happened: After days of retracement, Bitcoin got back in the groove as it breached the $71,000 level. The leading cryptocurrency was just 3.8% away from its all-time high of $73,737.



Ethereum also approached $2,500, while Dogecoin, the king of joke coins, surged by more than 8% as election results began to come in.



Trump was leading in the battleground states of Georgia and Florida, resulting in his <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730855062824">odds </a>on Polymarket shooting to 72%.&nbsp;



Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.



Short sellers suffered as more than $133 million in bearish bets were wiped out due to the rally.&nbsp;



Bitcoin's Open Interest spiked 3.70%, while top traders on the cryptocurrency exchange Binance remained bullishly positioned for the coin.&nbsp;



Market participants remained "Greedy," as per the Cryptocurrency Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. EDT)</td></tr><tr><td>Artificial Superintelligence Alliance(FET)</td><td>+1.27%</td><td>$0.1633</td></tr><tr><td>Cat in a dogs world (MEW)</td><td>+11.44%</td><td>$0.008809</td></tr><tr><td>Bittensor (TAO)</td><td>+10.59%</td><td>$469.17</td></tr></tbody></table></figure>



The global cryptocurrency stood at $2.34 trillion, following a spike of 5.22% in the last 24 hours.



Stocks surged sharply Tuesday in anticipation of the results. The Dow Jones Industrial Average gained 427.28 points, or 1.02%, to close at 42,221.88. The S&amp;P 500 jumped 1.23% to end at 5,782.76, while the tech-focused Nasdaq Composite closed 1.43% higher at 18,439.17.



Stock futures also ascended in anticipation, with those linked to the Dow popping more than 300 points overnight.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Widely followed cryptocurrency analyst Michaël van de Poppe noted Bitcoin's move above $71,000 amid Trump's lead in the battleground states of Virginia and Florida.



"This might not be as tight as it was expected. This might also be the kickstart of the bull market + a weak labor market," the analyst predicted.



<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/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> breaking $70K and makes a new high, as Trump takes a significant lead in Georgia, Florida, Virginia and South Carolina. This might not be as tight as it was expected. This might also be the kickstart of the bull market + a weak labor market.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1853958629365289455?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, indications of profit-taking by whales also surfaced after influential analyst Ali Martinez drew attention to the sharp drop in addresses holding more than 1,000 BTCs leading up to the election.



<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/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whales are dialing back exposure ahead of the U.S. elections, with a 2% drop in addresses holding over 1,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/rlq6Y5YJ93">pic.twitter.com/rlq6Y5YJ93</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1853777283061850450?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41754690/worlds-largest-political-bettor-gives-donald-trump-a-90-chance-of-winning-election-citing-">World&#8217;s Largest Political Bettor Gives Donald Trump A 90% Chance Of Winning Election, Citing &#8216;Real&#8217; Numbers</a></li>
</ul>

Cryptocurrency

Movers

Trading Ideas

$DOGE

Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts 'Kickstart Of The Bull Market'

Florida voters rejected an initiative to legalize marijuana for adult use. Known as Amendment 3, the initiative did not garner the 60% votes necessary Tuesday to pass a constitutional amendment though it did get a clear majority.



The initiative enjoyed star-studded endorsements, including from <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">former President Donald Trump</a>, who is a Florida resident. But it faced tough and sustained GOP opposition from Gov. <a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a> and the Florida Republican Party.



With 93% of votes counted, the amendment failed with 55.8% yes votes and 44.2% no votes, according to the Associated Press.



Smart &amp; Safe Florida, the campaign that got the initiative onto the ballot, put out a notice shortly after receiving the news.



<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://t.co/O7X6zHZEY0">pic.twitter.com/O7X6zHZEY0</a>&mdash; Smart &amp; Safe Florida (@SmartandSafeFl) <a href="https://twitter.com/SmartandSafeFl/status/1853974758641049896?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In the weeks before Election Day, DeSantis held a string of conferences denouncing the amendment. Campaign groups opposing legalization were essentially staffed by DeSantis allies. In what many called misusing public money, the Florida <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">transportation department ran ads</a> saying that DUI crashes increased in states with legal marijuana, which caused the Amendment 3 campaign to send out cease-and-desist notices.



<h2 class="wp-block-heading">Cannabis Industry Responds</h2>



"While it's disappointing to see Florida's Amendment 3 fall short of the 60% threshold necessary, it's important to recognize the bipartisan voter support that the measure received," said Anthony Coniglio, CEO of <a href="https://newlake.com/" target="_blank" rel="noreferrer noopener">NewLake Capital Partners, Inc</a>. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NLCP#OTC">NLCP</a>). 



"Constitutional amendments requiring 60% approval are always difficult but Americans&#8217; support for the cannabis industry is undeniable. These results don't erase the progress the sector has made or the growing public support for cannabis nationwide."



Tyler Beuerlein, business development officer at Safe Harbor Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>), acknowledged that state-level changes do not automatically resolve broader industry challenges.



"Despite both major political parties now voicing support for cannabis reform, federal legalization remains complex, with numerous unresolved issues around banking, interstate commerce, and comprehensive regulatory frameworks."



<ul>
<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41755971/desantis-on-wrong-side-of-history-curaleaf-chair-says-as-governor-calls-trulieve-big-pharma-on-s">DeSantis &#8216;On Wrong Side Of History,&#8217; Curaleaf Chair Says: Governor Calls Trulieve &#8216;Big Pharma On Steroids&#8217;</a></li>
</ul>



Illustration created using artificial intelligence.

Cannabis

Government

Legal

NLCP

SHFS

Florida Rejects Cannabis Legalization Amendment Supported By Trump, Detested By DeSantis

Few things seem certain in life ahead of the U.S. presidential election results: death, taxes, and the Federal Reserve cutting <a href="https://www.benzinga.com/topic/interest-rates">interest rates on Thursday. </a>



As the U.S. anxiously awaits results from one of the tightest presidential races in history — potentially <a href="https://www.benzinga.com/general/politics/24/11/41730670/prediction-markets-swing-back-to-trump-but-data-analysts-say-its-too-close-to-call">too close to call</a> by Thursday — this anticipated rate cut may offer a rare anchor for financial markets, providing traders with a moment of stability during what could be a highly volatile week.



In what's widely seen as a guaranteed move, the central bank is expected to reduce its benchmark rate by 0.25%, bringing it down to a range of 4.5%-4.75%. This move would set borrowing costs at their lowest levels since February 2023.



See Also: <a href="https://www.benzinga.com/startups/24/11/41701184/kamala-harris-gains-support-from-866-vcs-representing-276-billion-in-assets">Kamala Harris Gains Support From 866 VCs Representing $276 Billion in Assets</a>



Market-implied probabilities of a 0.25% cut point to a 97.4% chance, as per CME FedWatch, de facto almost fully pricing in the rate cut, which would be the second consecutive reduction from the Fed.



The Fed&#8217;s policy statement will be released Thursday at 2:00 p.m. ET, followed by chair Jerome Powell's closely watched press conference at 2:30 p.m., where investors will look for clues about the Fed's outlook on a further rate cut in the last meeting of the year.



<h3 class="wp-block-heading">Labor Market And Inflation Trends Drive Fed's Decision</h3>



&#8220;We expect the Fed to cut by 25bp in November, and Chair Powell&#8217;s message is likely to remain optimistic,&#8221; said Bank of America rates analyst Mark Cabana.



Cabana explained that October's softer-than-expected jobs report and downward revisions to payroll data for previous months are key factors that locked the November cut.



Bank of America indicates the recent labor data also significantly increases the odds of an additional rate cut in December.



Goldman Sachs economist David Mericle welcomed latest inflation developments and highlighted that while the October employment report was tepid, other data suggest resilience in the U.S. economy.



&#8220;Better inflation news has dampened the concerns about reacceleration or stickiness from the first few months of the year,&#8221; he said. 



Mericle also highlighted the strong GDP growth in the third quarter, which may assuage fears of an overly softening labor market. 



Goldman Sachs is forecasting four additional cuts in the first half of next year, which would bring the terminal rate down to a range of 3.25%-3.5%. 



However, Mericle indicated that there's "more uncertainty about both the speed next year and the final destination," suggesting that future decisions will depend heavily on incoming economic data.



<h3 class="wp-block-heading">Potential Skip In December? </h3>



JPMorgan aligns with the consensus for a 25-basis-point cut in November, with the possibility of another in December if economic conditions remain stable. The bank, however, warns that labor market data will play an outsized role in shaping the Fed's future moves. 



Analysts at the largest U.S. bank warned that if the unemployment rate falls below 4% in December, the Fed might consider skipping a rate cut in early 2024 — a possibility raised last by Atlanta Fed President Raphael Bostic.



Morgan Stanley expects the FOMC's statement to reflect an improved outlook on economic growth, while acknowledging progress on inflation. However, they caution that Powell is unlikely to commit to a specific pace for future rate cuts.



In short, the November rate cut is a near certainty during a period of anticipated political volatility, but beyond that, much remains in flux. 



<h3 class="wp-block-heading">How Could Markets React? </h3>



The market-implied probability of another 0.25% rate cut at the Dec. 18 meeting currently stands at 77%.



If Fed chair Powell delivers dovish remarks that reinforce expectations for a December rate cut, investors can expect a boost in risk assets. In this scenario, the S&amp;P 500 — represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — is likely to react positively after the Fed meeting, provided that election-related uncertainties don't overshadow the market.



On the other hand, if Powell signals reluctance to cut rates again in December, it could disappoint investors and add fuel to market volatility, especially amid heightened political risks surrounding the election results.



Read Now:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41750522/us-services-sector-gauge-rises-more-than-expected-to-over-2-year-highs-as-employm">US Services Sector Gauge Rises More Than Expected To Over 2-Year Highs As Employment Index Defies Hurricane Shocks</a></li>
</ul>



Image via Federal Reserve

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

US Election Jitters Meet Interest-Rate Cut Assurance: Why Fed's Powell May Offer Traders A Safe Harbor This Week

Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) reported third-quarter financial results after the market close Tuesday, the same day Donald Trump is facing off against Kamala Harris in the <a href="https://www.benzinga.com/news/24/11/41758791/whats-going-on-with-trump-media-technology-group-stock-tuesday">2024 presidential election.</a>



What Happened: Trump Media &amp; Technology Group announced third-quarter net sales of $1.01 million, down 6% year-over-year, according to data<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>



The company <a href="https://s3.amazonaws.com/sec.irpass.cc/2660/0001140361-24-045260.pdf">said </a>all of its revenue came from advertising on the Truth Social platform in the quarter.



The company reported a loss of 10 cents per share compared to a loss of 30 cents per share in last year's third quarter.



Trump Media &amp; Technology Group, which was co-founded by the former president, highlighted the importance of Trump for the company's success.



"TMTG's success depends in part on the popularity of our brand and the reputation and popularity of President Donald J. Trump. The value of TMTG's brand may diminish if the popularity of President Donald J. Trump were to suffer," the company said.



Trump is able to post politically related posts on any social media site at any time, including outside of Truth Social, the filing said. 



The filing lists a date of Feb. 2, 2025 for when Trump may "terminate the Exclusivity Obligation" with 30 days prior written notice for his non-political posts to appear first on Truth Social.



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



What's Next: The quarterly filing said the company plans to roll out its streaming content in three phases.



<ul>
<li>Phase 1: Introduce Truth Social for streaming live TV to the Truth Social app for Android, iOS and Web</li>



<li>Phase 2: Release standalone Truth Social over-the-top streaming apps for phones, tablets and other devices</li>



<li>Phase 3: Release Truth Social streaming apps for home TV</li>
</ul>



The company said it completed phase 1 in August, phase 2 in October and as of Oct. 23, phase 3 has seen the Truth+ streaming platform released on Apple TV, Android TV and Amazon Fire TV.



Future growth initiatives from the company include growing the initial Truth Social platform, increasing product offerings and pursuing strategic acquisitions and/or partnerships.



The company said it plans to expand the business operations globally.



Trump Media &amp; Technology Group ended the third quarter with $672 million in cash, cash equivalents and short-term investments.



DJT Price Action: Shares of Trump Media &amp; Technology Group saw increased volatility Tuesday ahead of the 2024 election with shares halted twice Tuesday.



Shares traded between $31.45 and $40.74 on Tuesday before closing down 1% to $33.94.



The stock is trading 2,.2% higher after hours at $4.69. 



Trump Media &amp; Technology Group stock is likely to experience increased volatility during the week as investors await the results of the 2024 election, with a potential Trump win viewed as a positive for the stock and a Trump loss viewed as a negative for the stock.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/politics/24/11/41732623/bakery-that-often-predicts-election-outcomes-has-this-candidate-winning-in-trump-harris-battle-d" target="_blank" rel="noreferrer noopener">Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle: ‘Doughmacracy For All!'</a></li>
</ul>

Earnings

Social Media

DJT Stock Volatile On Election Day: Donald Trump's Media Company Reports Q3 Earnings, Growth Initiatives

Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) provided a business update for the first quarter and reported preliminary results after the market close on Tuesday. Here&#8217;s <a href="https://www.benzinga.com/pressreleases/24/11/b41758158/supermicro-announces-an-update-from-the-independent-special-committee-and-first-quarter-fiscal-yea">everything you need to know</a>.



Preliminary Q1 Earnings: Super Micro expects to report first-quarter revenue of $5.9 billion to $6 billion, down from its previous guidance range of $6 billion to $7 billion. 



The company anticipates adjusted earnings of 75 cents to 76 cents per share, versus its previous guidance of 67 cents to 83 cents per share. 



Super Micro expects a first-quarter gross margin of approximately 13.3%. The company said it expects to report total cash and cash equivalents of $2.1 billion and total debt of approximately $2.3 billion.



Q2 Outlook: Super Micro expects second-quarter revenue of $5.5 billion to $6.1 billion. The company anticipates second-quarter adjusted earnings of 56 cents to 65 cents per share. The company&#8217;s soft guidance appears to be weighing on shares after hours.



See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41756882/magnificent-7-basket-notches-over-200-gain-since-bidens-election-how-did-tech-giants-perform-und">Magnificent 7 Basket Notches Over 200% Gain Since Biden&#8217;s Election: How Did Tech Giants Perform Under Trump?</a>



Business Update: Super Micro stock plunged last week&nbsp;after its independent auditor Ernst &amp; Young (EY) resigned as the company&#8217;s registered public accounting firm, citing concerns related to governance, transparency and completeness of communications.



Super Micro formed an independent Special Committee in response to information that was brought to the attention of its audit committee. The company announced Tuesday that the committee issued the following statement to Super Micro:



&#8220;The Special Committee has completed its investigation based on a set of initial concerns raised by EY. Following a three-month investigation led by Independent Counsel, the Committee&#8217;s investigation to date has found that the Audit Committee has acted independently and that there is no evidence of fraud or misconduct on the part of management or the Board of Directors. The Committee is recommending a series of remedial measures for the Company to strengthen its internal governance and oversight functions, and the Committee expects to deliver the full report on the completed work this week or next. The Special Committee has other work that is ongoing but expects it to be completed soon.&#8221;



Super Micro also announced Tuesday that it continues to work diligently on filing its Form 10-K for its fiscal year ended June 30, but &#8220;remains unable at this time to predict&#8221; when it will be filed. Super Micro hasn&#8217;t filed financial results with the SEC since May. The Form 10-K was due on Aug. 29. 



Super Micro received a notification from the Nasdaq stating that it was not in compliance with timely filing requirements on Sept. 20. Super Micro said it filed an extension and has 60 days from the date of notice to regain compliance. If a plan is submitted and accepted by that time, the company could be granted up to 180 days to regain compliance. Super Micro said it plans to take all necessary steps to achieve compliance as soon as possible.



Super Micro&#8217;s management team will further discuss the company&#8217;s preliminary results and business update on a call with analysts and investors at 5 p.m. ET.



SMCI Price Action: <a href="http://benzinga.com/quote/smci" target="_blank" rel="noreferrer noopener">Super Micro shares</a> were down 13.39% in after-hours, trading at $24.09 at publication Tuesday, per <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41745935/super-micro-computer-posts-q1-earnings-are-delisting-fears-here-to-stay-or-can-the-stock">Super Micro Computer Posts Q1 Earnings: Are Delisting Fears Here To Stay Or Can The Stock Rebound?</a></li>
</ul>



Photo: Shutterstock.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Super Micro Computer Q1 2025 Earnings Call &#x7C; $SMCI" width="500" height="281" src="https://www.youtube.com/embed/kDISKt1-Rec?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>

Guidance

After-Hours Center

Super Micro Computer Stock Sinks On Preliminary Q1 Results, Q2 Guidance, Business Update

The Magnificent Seven, a group of top-performing tech stocks, has delivered extraordinary returns since Joe Biden was elected in early November 2020, significantly outpacing <a href="https://www.benzinga.com/">the broader stock market. </a>



An equally weighted portfolio of Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has returned 213.6% over the last four years. This equates to a compounded annualized growth rate, or CAGR, of about 25%.



To put this in perspective, an investor who put $10,000 into this tech-heavy basket on Nov. 3, 2020 would have seen their investment grow to roughly $31,360 by Nov. 5, 2024.



In contrast, an equivalent investment in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) would have grown by 74%, for a CAGR of just 14.8%, resulting in an end balance of about $17,400.



Here&#8217;s a closer look at how these tech giants fared individually under Biden and how their performance compares to the Trump era.



<h3 class="wp-block-heading">Magnificent 7 Performance In The Biden Years</h3>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Stock</th><th>Return (%)</th><th>CAGR (%)</th><th>Market Cap (Nov. 3, 2020)</th><th>Market Cap (Nov. 5, 2024)</th></tr></thead><tbody><tr><td>NVIDIA</td><td>967.92%</td><td>80.56%</td><td>$321.69 billion</td><td>$3.42 trillion</td></tr><tr><td>Meta Platforms</td><td>114.22%</td><td>20.98%</td><td>$755.65 billion</td><td>$1.44 trillion</td></tr><tr><td>Alphabet</td><td>105.85%</td><td>19.78%</td><td>$1.1 trillion</td><td>$2.09 trillion</td></tr><tr><td>Apple</td><td>101.13%</td><td>19.08%</td><td>$1.88 trillion</td><td>$3.37 trillion</td></tr><tr><td>Microsoft</td><td>99.55%</td><td>18.85%</td><td>$1.56 trillion</td><td>$3.07 trillion</td></tr><tr><td>Tesla</td><td>77.48%</td><td>15.42%</td><td>$415.27 billion</td><td>$807.74 billion</td></tr><tr><td>Amazon</td><td>29.36%</td><td>6.64%</td><td>$1.53 trillion</td><td>$2.08 trillion</td></tr></tbody><tfoot><tr><td>Average return, CAGR / Total market cap.</td><td>213.64%</td><td>25.02%</td><td>$7.58 trillion</td><td>$16.26 trillion</td></tr></tfoot></table></figure>



Among the Magnificent Seven, Nvidia as been the standout performer under Biden, surging 967.92% with an annualized return of 80.56%. This explosive growth, driven by the AI boom and demand for GPUs, has catapulted NVIDIA's market cap from $321.69 billion to over $3.4 trillion.



Apple, Microsoft, and Alphabet have all roughly doubled in market value under Biden, each delivering annualized returns close to 19%. These established tech giants benefited from strong growth in their cloud, advertising and services segments.



Tesla performance lagged behind the average of the basket. Tesla shares rose 77.48%, translating to a CAGR of 15.42%. The company&#8217;s market cap nearly doubled, reaching $807.74 billion.



Amazon stands out as a relative laggard in this group, with only a 29.36% gain — translating to a 6.64% CAGR — over the same period. The company has faced headwinds from slowing e-commerce growth post-pandemic and rising costs impacting its profitability.



<h3 class="wp-block-heading">Magnificent 7 Performance Under Trump</h3>



The same basket of tech stocks had an even more impressive run under the Trump administration from Nov. 8, 2016 to Nov. 2, 2020.



The SPY ETF delivered a 67% gain during the same time frame, slightly lagging broader market returns under Biden.



Here&#8217;s how each Magnificent Seven stock and the equally weighted basket performed during Trump&#8217;s tenure:



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Stock</th><th>Return (%)</th><th>CAGR (%)</th><th>Market Cap (Nov. 8, 2016)</th><th>Market Cap (Nov. 2, 2020)</th></tr></thead><tbody><tr><td>NVIDIA</td><td>631.84%</td><td>64.47%</td><td>$38.07 billion</td><td>$310.85 billion</td></tr><tr><td>Meta Platforms</td><td>113.57%</td><td>20.89%</td><td>$358.60 billion</td><td>$744.35 billion</td></tr><tr><td>Alphabet</td><td>102.67%</td><td>19.32%</td><td>$552.28 billion</td><td>$1.10 trillion</td></tr><tr><td>Apple</td><td>297.77%</td><td>41.22%</td><td>$592.21 billion</td><td>$1.85 trillion</td></tr><tr><td>Microsoft</td><td>241.38%</td><td>35.93%</td><td>$470.18 billion</td><td>$1.53 trillion</td></tr><tr><td>Tesla</td><td>987.26%</td><td>81.59%</td><td>$29.22 billion</td><td>$379.64 billion</td></tr><tr><td>Amazon</td><td>286.98%</td><td>40.26%</td><td>$331.19 billion</td><td>$1.51 trillion</td></tr></tbody><tfoot><tr><td>Average return, CAGR / Total market cap.</td><td>380.2%</td><td>43.38%</td><td>$2.56 trillion</td><td>$7.42 trillion</td></tr></tfoot></table></figure>



Under Trump&#8217;s administration, the Magnificent Seven returned an average of 380.2%, with an annualized return of 43.38%.



A $10,000 investment in an equally weighted basket of the Magnificent Seven stocks at the start of Trump&#8217;s term would have grown to approximately $48,020 by Nov. 2, 2020.



This performance was driven by massive rallies, especially in Tesla and Nvidia, which surged 987.26% and 631.84%, respectively.



These stocks were boosted by early enthusiasm for electric vehicles and semiconductor technology, which set the stage for further gains in the Biden era.



Amazon and Apple also thrived during Trump's tenure, with gains of 286.98% and 297.77%, respectively, benefiting from booming e-commerce and strong iPhone sales. 



Even the more mature players, Microsoft and Alphabet, saw their market caps more than double, reflecting the ongoing expansion of cloud computing and digital advertising.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41720723/tesla-vs-nvidia-stock-performance-under-biden-might-reveal-truth-about-elon-musks-support-for-tr">Tesla Vs. Nvidia Stock Performance Under Biden Might Reveal Truth About Elon Musk&#8217;s Support For Trump</a></li>
</ul>



Photo via Shutterstock.

Large Cap

AAPL

GOOG

GOOGL

MSFT

NVDA

Magnificent 7 Basket Notches Over 200% Gain Since Biden's Election: How Did Tech Giants Perform Under Trump?

On Tuesday, the recently launched 2024 election contracts on Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) surpassed the 200 million milestone.



On Monday, Robinhood CEO Vlad Tenev <a target="_blank" href="https://www.benzinga.com/general/sports-betting/24/11/41719799/robinhood-passes-100-million-2024-election-contracts-do-users-favor-trump-or-harris-on-sto" rel="noreferrer noopener">shared</a> on X that the company passed 100 million contracts traded in less than a week since <a target="_blank" href="https://www.benzinga.com/news/24/10/41573989/harris-vs-trump-robinhood-launches-election-event-contracts-for-traders-as-2024-presidential-race-he" rel="noreferrer noopener">launching election contracts.</a>



As per an emailed statement to Benzinga, Robinhood said it reached 200 million contracts.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41748807/thomson-reuters-q3-earnings-legal-corporate-segments-enjoy-revenue-boost-as-ceo-highlights-ai-inves" rel="noreferrer noopener">Thomson Reuters Q3 Earnings: Legal, Corporate Segments Enjoy Revenue Boost As CEO Highlights AI Investment</a>



Robinhood&#8217;s election contracts are available to select U.S. users who comply with citizenship requirements.



Robinhood&#8217;s 2024 election contracts showed Donald Trump as the frontrunner at 57 cents, with Vice President Kamala Harris trailing at 45 cents. Winning candidate contracts will pay out $1 each.



Robinhood&#8217;s election contracts add a new investment avenue for users alongside stocks, options, and cryptocurrency.



Interest in prediction markets for the 2024 election has soared, with Polymarket and Kalshi attracting bets from around the world.



Polymarket is only available to users outside the U.S. Kalshi is regulated&nbsp;by the Commodity Futures Trading Commission in the U.S.



Price Action: HOOD stock is up 2.42% at $24.91 at the last check on Tuesday.



Also Read:



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<li><a href="https://www.benzinga.com/news/earnings/24/11/41745824/short-squeeze-globalfoundries-stock-soars-on-q3-earnings-beat-strong-q4-outlook" target="_blank" rel="noreferrer noopener">Short Squeeze &#8211; GlobalFoundries Stock Soars On Q3 Earnings Beat, Strong Q4 Outlook</a></li>
</ul>



Photo via Shutterstock

COIN

Robinhood's Election Contracts Hit 200 Million Trades On Election Day

Boris Jordan, <a href="https://www.benzinga.com/topic/curaleaf">founder and executive chair</a> of Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), had some parting words for <a href="https://www.benzinga.com/topic/ron-desantis">Governor Ron DeSantis</a> who has opposed Florida's cannabis legalization initiative, Amendment 3, since day one, even after – or should we say because former President <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">Donald Trump endorsed it</a>?



Jordan said that DeSantis' &#8220;smear campaign&#8221; regarding Amendment 3 and his stance against cannabis legalization is misguided.



"The @GovRonDeSantis smear campaign against Amendment 3 is on the wrong side of history. Time and again, states across our nation have proven that legal adult-use cannabis can have a positive impact, generating important tax revenues while providing responsible adult consumers with access to tested and regulated products," Jordan wrote on X.



Safe &amp; Smart Florida, the group behind the legalization campaign, had a follow-up comment about how the &#8220;legalized adult-use recreational marijuana, the elimination of underground markets has driven a reduction in underage use while generating billions in tax revenue to reinvest in youth programs and scholarships.&#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 <a href="https://twitter.com/GovRonDeSantis?ref_src=twsrc%5Etfw">@GovRonDeSantis</a> smear campaign against Amendment 3 is on the wrong side of history. Time and again, states across our nation have proven that legal adult-use <a href="https://twitter.com/hashtag/cannabis?src=hash&amp;ref_src=twsrc%5Etfw">#cannabis</a> can have a positive impact, generating important tax revenues while providing responsible adult consumers… <a href="https://t.co/O0D5cf0x1p">https://t.co/O0D5cf0x1p</a>&mdash; Boris Jordan (@Boris_Jordan) <a href="https://twitter.com/Boris_Jordan/status/1853555668768407854?ref_src=twsrc%5Etfw">November 4, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Smear Campaign? </h2>



DeSantis has gone after the campaign's main financial backer, Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), on several occasions while opposing the entire campaign with ongoing comments about weed being a smelly affair and equating it with drug cartel activity.



Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41744722/election-day-2024-will-florida-nebraska-north-and-south-dakota-join-the-marijuana-revolution">Election Day 2024: Will Florida, Nebraska, North And South Dakota Join The Marijuana Revolution?</a>



<h2 class="wp-block-heading">DeSantis&#8217; Final Shot: Trulieve Is &#8216;Big Pharma On Steroids&#8217;</h2>



DeSantis shared his final comments on <a href="https://www.facebook.com/GovRonDeSantis">Facebook </a>Monday, directing attention toward Trulieve.



&#8220;One mega marijuana corporation has poured over $140 million into Amendment 3,&#8221; the governor said. &#8220;That's not a charitable donation in the best interests of Florida—it's a publicly-traded company trying to maximize profits for their own shareholders, by securing special privileges and permanent carve-outs in our constitution. It's like Big Pharma on steroids.&#8221;



Benzinga reached out to Trulieve for the company&#8217;s response and is awaiting comment.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41656678/trump-harris-and-desantis-face-off-on-cannabis-legalization-in-florida-and-beyond">Trump, Harris And DeSantis Face Off On Cannabis Legalization In Florida And Beyond</a></li>
</ul>



Photo: Benzinga edit with images by&nbsp;<a href="https://www.flickr.com/people/22007612@N05" target="_blank" rel="noreferrer noopener">Gage Skidmore</a>&nbsp;from Surprise, AZ,&nbsp;USA&nbsp;–&nbsp;<a href="https://www.flickr.com/photos/gageskidmore/53299142646/" target="_blank" rel="noreferrer noopener">Ron DeSantis</a>&nbsp;via Wikimedia Commons and&nbsp;<a href="https://unsplash.com/@joseluissp_ph" target="_blank" rel="noreferrer noopener">Jose Luis Sanchez Pereyra</a>&nbsp;via Unsplash

CURLF

TCNNF

DeSantis 'On Wrong Side Of History,' Curaleaf Chair Says: Governor Calls Trulieve 'Big Pharma On Steroids'

A win for Donald Trump or Kamala Harris could have implications for many sectors, including technology and electric vehicles, making the outcome of the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election</a> important for investors.



A group of Wedbush analysts outlines the implications for the technology sector in light of Tuesday's election.



2024 Election Being Closely Watched: Wedbush analysts Daniel Ives, John Katsingris, Steven Wahrhaftig, and Sam Brandeis share their thoughts on <a href="https://www.benzinga.com/tech" target="_blank" rel="noopener">the technology sector</a> ahead of the 2024 election and what a win by either Trump or Harris could mean.



"U.S. Elections here with implications for tech on the table," the analysts said.



Technology investors are worried about the global implications of a Trump win with the potential for increased tariffs that could create tensions between the U.S. and China in the technology sector, the analyst said.



"Tonight the Street and tech world will be watching election results with white knuckles as there are many policy dynamics in the Beltway that will impact the tech sector looking ahead."



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



What a Trump Win Means: The analysts said a Trump win could create major changes in tariffs and could impact the overall technology supply chain.



NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are highlighted in the report as companies that could be negatively impacted by the possibility of retaliatory impacts from China.



The analysts said a Trump win could "slow the pace of the AI revolution."



Federal Trade Commission (FTC) Chair Lina Khan is another critical figure to monitor, as she has exerted pressure on major tech companies and may advocate for breakups. The analysts said Khan is likely out with a Harris win, but could remain in the position if Trump wins.



The analysts added that Congressional races on Election Day could impact the chance of major policy changes for Big Tech regardless of who wins the White House. A GOP sweep of the White House and Congress could be bullish for the overall stock market but negative for Big Tech stocks.



"From a Big Tech/AI trade perspective we view overall a Harris White House win as more bullish on the margins and a Trump win as a net negative for Big Tech."



Given Elon Musk&#8217;s support for the former present, one of the big questions is whether a Trump win could be good for Tesla.



"We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled, however for Tesla we see this as a potential positive with some caveats."



The analysts said Tesla's size and scale could help the company without tax incentives, and it could have a "clear competitive advantage" with competitors losing subsidies and the potential of higher tariffs on Chinese companies.



"Higher China tariffs that would continue to push away cheaper EV players (BYD, Nio, etc.) from flooding the US market over the coming years."



What a Harris Win Means: A win in the 2024 election by Harris could be a positive for the electric vehicle sector, the analysts said.



"If Harris wins we would expect the EV tax credits to remain the same and ultimately increase in 2025 as the goal to get more US consumers towards EVs would be a laser focus in a Harris Administration," the analysts said.



General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) are named as companies that could benefit from a Harris win as they are betting heavily on electric vehicles and need the growth to continue.



The analysts said a Harris win could be neutral or slightly negative for Tesla.



Musk heavily supporting Trump in the election could have "negative consequences" in the future, the analysts said.



"For now, the ‘Musk betting on Trump bet' has seen a limited negative impact on demand in the U.S. although clearly this political dynamic could impact some customers to go away from Tesla when buying decisions ultimately come around over the next year."



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41750191/republican-win-likely-to-lift-magnificent-7-stocks-democratic-sweep-better-for-bond">Republican Win Likely To Lift Magnificent 7 Stocks, Democratic Sweep &#8216;Better For Bonds,&#8217; Says WisdomTree</a></li>
</ul>



Photo: Shutterstock

Analyst Color

Analyst Ratings

STLA

Trump Win Could Hinder Tech, EV Sector Growth, 'Slow The Pace' Of AI Revolution: Analysts Lay Out 2024 Election Implications

As Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and Arm Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) gear up to <a href="https://www.benzinga.com/earnings">release their earnings</a> Wednesday, the two <a href="https://www.benzinga.com/topic/semiconductors">semiconductor giants</a> face bearish technical pressures but diverge in their growth paths. 



<h2 class="wp-block-heading">Qualcomm: Navigating Challenges Amid Bearish Technicals</h2>



Qualcomm, a mainstay in mobile chipsets, faces strong bearish signals.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM.png" alt="" class="wp-image-630916" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05125732/Screenshot-2024-11-05-at-11.20.50-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



QCOM stock is trading at $165.87, well below its eight, 20, and 50-day simple moving averages. Analysts expect fourth quarter EPS of $2.56 on revenue of $9.91 billion, but the stock's recent bearish signals from technical indicators suggest caution. 



QCOM's MACD (Moving Average Convergence/Divergence) is -0.94, and its RSI (Relative Strength Index) is 45.95, indicating a neutral condition with limited immediate upside potential due to bearish momentum.



Qualcomm's expansion into automotive and IoT markets showcases its strategic shift, but near-term pressures from regulatory concerns and competition—particularly from Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) modem push—continue to cloud investor sentiment.



Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41652277/amds-ai-data-center-business-booms-ceo-says-its-closed-a-good-part-of-that-gap-with-nvidia">AMD&#8217;s AI Data Center Business Booms: CEO Says It&#8217;s &#8216;Closed A Good Part Of That Gap&#8217; With Nvidia</a>



<h2 class="wp-block-heading">Arm Holdings: Bullish Hints Despite Near-Term Pressures</h2>



Arm, with its IP-licensing model and strong YTD performance, shows resilience amid bearish trends. 



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM.png" alt="" class="wp-image-630924" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/05130141/Screenshot-2024-11-05-at-11.21.49-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



Trading at $139.89, ARM stock is below short-to medium-term SMAs (eight-day at $145.69, 20-day at 148.79, and 50-day at $141.22), signaling a bearish trend prevailing. Moreover, its MACD is a negative 0.23, which reinforces the bearish trend.



However, the 200-day SMA provides support at $131.04, signaling potential long-term strength.



Analysts forecast that the second quarter EPS will be 26 cents on revenue of $808.37 million.



Unlike Qualcomm, Arm's royalty-based model shields it from manufacturing woes, positioning it for growth in high-demand areas like AI, data centers, and IoT.



<h2 class="wp-block-heading">Different Risks, Different Rewards</h2>



While both stocks have bearish technical signals, Qualcomm's cyclicality contrasts with Arm's steadier IP-driven model. Investors eyeing Qualcomm may anticipate a comeback in 5G and automotive, while Arm's appeal lies in its growth as a diversified IP giant. 



This earnings season will be pivotal for both, but the charts suggest caution.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41745935/super-micro-computer-posts-q1-earnings-are-delisting-fears-here-to-stay-or-can-the-stock">Super Micro Computer Posts Q1 Earnings: Are Delisting Fears Here To Stay Or Can The Stock Rebound?</a></li>
</ul>



Photo: Shutterstock

Technicals

Previews

QCOM

Qualcomm Vs. Arm: Pre-Earnings Semiconductor Showdown

Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes <a href="https://www.benzinga.com/topic/2024-election">for the 47th president.</a>



Betting markets leaned slightly toward Donald Trump, with CFTC-regulated Kalshi placing Trump's win probability at 56% compared to Kamala Harris's 44%.



National polls show a close contest, with the latest New York Times/Siena College poll indicating both candidates tied at 48% in the popular vote.



The S&amp;P 500 climbed 1.2%, while the tech-focused Nasdaq 100 surged 1.5%, marking its strongest one-day increase in nearly a month. 



All 11 sectors of the S&amp;P 500 experienced gains, with consumer discretionary stocks outperforming. Small caps also joined the rally, with the Russell 2000 index gaining 1.1%.



Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) led the S&amp;P 500, with shares soaring after the artificial intelligence company surpassed quarterly earnings estimates and provided strong guidance.



In macroeconomic news, U.S. services sector activity hit over two-year highs <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41750522/us-services-sector-gauge-rises-more-than-expected-to-over-2-year-highs-as-employm">in October, outperforming expectations</a>.



Treasury yields increased by 5 basis points, while the dollar declined for a second consecutive session.



Gold edged up 0.3%, hovering near record highs, and oil prices gained 1.2% after a 3.2% surge on Monday.



Crypto sentiment was strong as well, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumping 4.5% to over $70,000 and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) spiking 12%.



Read also: <a href="https://www.benzinga.com/markets/24/11/41741466/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>



<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Nasdaq 100</td><td>20,259.62</td><td>1.5%</td></tr><tr><td>S&amp;P 500</td><td>5,779.38</td><td>1.2%</td></tr><tr><td>Russell 2000</td><td>2,244.40</td><td>1.1%</td></tr><tr><td>Dow Jones</td><td>42,191.93</td><td>1.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>



According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.1% to $575.87.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.9% to $421.79.</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 1.4% to $492.61.</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $222.47.</li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.7%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, up 0.4%.</li>
</ul>



<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>



Stocks reacting to earnings reports included: 



<ul>
<li>Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), up 4.8%</li>



<li>Palantir Technologies Inc., up 22.8%</li>



<li>NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), down 6.8%</li>



<li>Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), down 1.6%</li>



<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), down 2.3%</li>



<li>Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), down 0.5%</li>



<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), up 6.2%</li>



<li>Emerson Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>), up 6.8%, </li>



<li>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), up 3.9%, </li>



<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), up 8.8%, </li>



<li>Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>), 4.7%,</li>



<li>YUM! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), up 2.5%, </li>
</ul>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>



Photo via Shutterstock.

Bonds

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FANG

ILMN

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Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What's Driving Markets Tuesday?

Investors are zeroing in on what <a href="https://www.benzinga.com/general/politics">potential political outcomes</a> in the U.S. elections Tuesday could mean for the markets.



WisdomTree's Global CIO, Jeremy Schwartz and Senior Economist Jeremy Siegel have shared insights on how a Republican or Democratic win could shape sectors across both the equity and bond markets.



Here's what WisdomTree sees on the horizon.



<h2 class="wp-block-heading">Bond Market Volatility: How Policy Could Shape Yields</h2>



Siegel said bond markets are primed for volatility, with each election outcome pointing to different scenarios for interest rates and yields. A Republican sweep, accompanied by tax cuts and heightened fiscal spending, could push bond yields upward by 20 basis points or more, he said. In this scenario, investors might brace for inflationary pressures and potentially tighter monetary policy, which would counterbalance any short-term equity gains.



On the flip side, a Democratic sweep is seen as a stabilizing force for bonds, with expectations for moderated spending and pro-growth fiscal restraint. 



WisdomTree's Kevin Flanagan, head of fixed income strategy, notes that Democratic policies might offer a predictable, low-volatility environment that helps maintain steady rates and tempers inflation concerns.



A divided government could yield the "best case" for bonds, creating stability through gridlock that limits sweeping fiscal changes and curbs deficit growth.



<h2 class="wp-block-heading">Equity Market Winners: Mag 7 In Focus Under GOP, Infrastructure &amp; Clean Energy For Democrats</h2>



For equity markets, each scenario presents distinct opportunities, particularly in the growth-oriented and infrastructure sectors. Under a Republican administration, WisdomTree expects an initial boost in stocks like the Magnificent Seven: (Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 



The Magnificent Seven stocks could be driven by extended tax cuts, reduced regulation, and potential capital gains exemptions.



The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) provides exposure to the Magnificent Seven stocks along with other popular tech-heavy ETFs such as the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), the Vanguard Information Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).



This favorable backdrop for the tech-heavy sector could stimulate momentum, although Siegel cautions that rising yields might cap equity gains by pressuring valuations.



In contrast, a Democratic sweep would likely favor sectors tied to clean energy and infrastructure. With a focus on the Inflation Reduction Act, the Democratic agenda is expected to channel substantial support into solar, hydrogen and renewable energy projects. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) provides exposure to solar stocks.



Read Also: <a href="https://www.benzinga.com/markets/esg/24/11/41722922/trump-vs-harris-evgo-cleveland-cliffs-plug-power-nucor-brace-for-2024-election-impact">Trump Vs. Harris: EVgo, Cleveland-Cliffs, Plug Power, Nucor Brace For 2024 Election Impact</a>



This shift would likely benefit clean energy stocks while weighing on small-cap stocks with high U.S. revenue exposure, as they would face the most significant earnings impact from higher corporate tax rates. 



Investors in clean energy ETFs such as the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NYSE">GRID</a>) and those invested in small-cap stocks via ETFs such as the iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>) or the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) should be wary of their holdings.



According to Wisdom Tree, Democratic leadership could also benefit international markets, as the reduced likelihood of higher tariffs might ease trade concerns and foster demand.



<h2 class="wp-block-heading">Navigating The Election Landscape</h2>



Beyond direct impacts on stocks and bonds, WisdomTree suggests that a blend of strategies, such as private credit, inflation hedges like gold, and international exposure with currency hedging, may help investors manage market uncertainty.



Trade policies, inflation, and the Federal Reserve's trajectory are all likely to play roles in shaping post-election strategies, underscoring the value of a diversified approach.



As the U.S. awaits the election results, WisdomTree's analysis highlights a divided outlook for investors. Whether the election ushers in policies that lift the Magnificent Seven stocks or bolsters the bond market, each scenario brings unique opportunities and risks to watch in the weeks ahead.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Republican Win Likely To Lift Magnificent 7 Stocks, Democratic Sweep 'Better For Bonds,' Says WisdomTree

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