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Elevance Health

Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 47 million medical members as of December 2023. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.

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Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly had a secret partnership with Chinese electric vehicle manufacturer BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) to create long-range electric vehicle batteries.
What Happened: The partnership started in 2017 and aimed to develop a battery system using lithium iron phosphate cells, <a href="https://www.bloomberg.com/news/articles/2024-10-16/apple-secretly-worked-with-china-s-byd-on-long-range-ev-battery?srnd=undefined">reported</a> Bloomberg, citing people familiar with the matter.
While Apple does not own any technology used in BYD&#8217;s current Blade batteries, this development proves Cupertino's efforts to produce a car.
See Also: <a href="https://www.benzinga.com/news/24/10/41357341/as-nvidia-apple-and-microsoft-race-towards-4-trillion-valuation-generative-ai-startups-reportedly-dr">As Nvidia, Apple And Microsoft Race Towards $4 Trillion Valuation, Generative AI Startups Reportedly Draw 40% Of All VC Investment</a>
Previously, it was reported that the tech giant spent <a href="https://www.benzinga.com/news/24/03/37528093/apple-poured-1b-a-year-into-car-project-concocted-by-steve-jobs-for-a-decade-before-realizing-it-nee">roughly $1 billion annually</a> over the past decade on its car project, known internally as "Titan," before pulling the plug.
Today, BYD&#8217;s entire car lineup is powered by the Blade system — a battery pack design shaped by insights gained from its Apple collaboration, the report noted.
Eventually, Apple decided to back away from the partnership and consider systems from other battery manufacturers.
In February, it was reported that the iPhone-maker had abandoned the project.
Apple and BYD did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week it was reported that <a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on">Apple has terminated</a> its self-driving vehicle testing permit, which was granted in 2017.
The seeds of Apple Car were sowed by the company's legendary co-founder Steve Jobs, who wanted the tech giant to create "this generation's Volkswagen Beetle."
Now, while Apple has canceled the project, it continues to innovate in the automotive space. For example, in July 2024, it was reported that <a href="https://www.benzinga.com/news/24/07/40009035/months-after-shelving-decade-long-apple-car-project-iphone-maker-patents-camera-system-to-project-li">Apple had patented a novel camera</a> system for cars.
Image via Unsplash
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Tech

AAPL

BYDDF

BYDDY

Apple Had A Hush-Hush Relationship With Tesla's Chinese-Rival BYD For Now-Abandoned Car Plans — Cupertino Poured Nearly $1B Each Year For A Decade Into The Project

Billionaire entrepreneur Mark Cuban and former President Donald Trump advisor Stephen Miller engaged in a heated exchange Wednesday over Trump&#8217;s recent comments about auto manufacturing and workers&#8217; skills, bringing attention to the complexities of <a href="https://www.benzinga.com/news/24/10/41349873/trump-faces-backlash-after-suggesting-car-assembly-in-america-is-so-simple-a-child-could-do-former-o">modern automotive production in America</a>.
What Happened: The controversy began after Vice President and Democratic presidential nominee Kamala Harris&#8216; campaign shared a clip where Trump suggested automotive assembly work was simple enough that &#8220;children could do it.&#8221; Cuban, known for his role on &#8220;Shark Tank&#8221; and his business acumen, criticized Trump&#8217;s understanding of modern manufacturing.
&#8220;He still thinks it&#8217;s 1965,&#8221; Cuban wrote. &#8220;It&#8217;s obvious he has no idea what it takes to manufacture any advanced product, car or otherwise.&#8221;
Miller defended Trump, claiming the clip was &#8220;deceptively edited&#8221; and arguing that Trump was actually criticizing European automakers&#8217; trade practices rather than belittling American workers. However, Cuban countered by specifically highlighting Mercedes-Benz&#8217;s substantial U.S. manufacturing presence.
&#8220;The Mercedes plant is in the USA. The workers are American,&#8221; Cuban responded. &#8220;He said a child could do the job of an American worker. That&#8217;s an insult.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stephen. The Mercedes plant is in the USA. The workers are American. He said a child could do the job of an American worker. That's an insult. I know your guy insults hard working Americans often, but don't normalize this Stephen. His interview was awful. When he…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1846545240083055094?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41366917/september-retail-sales-in-focus-will-strong-consumer-spending-power-a-no-landing-ra">September Retail Sales In Focus: Will Strong Consumer Spending Power A &#8216;No Landing&#8217; Rally For Stocks</a>?
Cuban backed his argument by sharing detailed information about Mercedes-Benz&#8217;s manufacturing facility in Vance, Alabama. The plant, known as Mercedes-Benz U.S. International (MBUSI), represents billions in investment and employs thousands of American workers. The facility produces several models, including the GLE, GLS, and electric vehicles, while utilizing advanced manufacturing techniques such as the &#8220;One Man – One Engine&#8221; philosophy for AMG models.
Nobel laureate economist Paul Krugman weighed in on the controversy, suggesting Trump&#8217;s comments reflected a misunderstanding of modern automotive manufacturing practices. Krugman pointed out that while some countries do utilize &#8220;completely knocked down&#8221; assembly practices due to tariff structures.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump disparaged SC auto workers as just assembling foreign parts: this happens in some countries, where cars come "completely knocked down." And the reason is … tariffs <a href="https://t.co/cPwv2P8lU8">https://t.co/cPwv2P8lU8</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1846602247955779980?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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The exchange highlighted the broader debate over automotive manufacturing practices and their economic impact in the United States, particularly as the industry transitions toward electric vehicle production and advanced manufacturing techniques.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41366736/netflix-q3-earnings-preview-ad-supported-plan-price-hikes-and-content-slate-key-foc">Netflix Q3 Earnings Preview: Ad-Supported Plan, Price Hikes, And Content Slate Key Focus As Company &#8216;Adds More And More Live Content&#8217;</a></li>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Global

Economics

Mark Cuban Battles Former Trump Advisor For Suggesting A 'Child Could Do' American Auto Workers Job: Paul Krugman Chimes In On The Controversy — 'He Still Thinks It's 1965'

On Wednesday, major U.S. indices saw gains, with the Dow Jones Industrial Average climbing nearly 0.8% to 43,077.70, while the S&amp;P 500 increased 0.5% to 5,842.47. The Nasdaq finished the day up almost 0.3% at 18,367.08.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)
Robinhood&#8217;s stock saw a slight increase of 0.49% to close at $26.93. The stock&#8217;s intraday high and low were $27.17 and $26.57 respectively, with a 52-week range of $7.91 to $27.33. The company&#8217;s CEO, Vlad Tenev, announced the <a href="https://www.benzinga.com/fintech/24/10/41371235/robinhood-announces-futures-trading-index-options-trading">launch of futures trading and index options trading</a> at the HOOD Summit 2024 in Miami, Florida.
Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>)
Novavax&#8217;s stock took a hit, dropping 19.44% to close at $10.15. The intraday high and low were $10.67 and $9.62, with a 52-week range of $3.53 to $23.86. The FDA has placed a clinical hold on Novavax's COVID-19-influenza combination vaccine candidates due to a <a href="https://www.benzinga.com/general/biotech/24/10/41356844/fda-puts-speed-breaker-on-novavaxs-covidflu-combo-shot-trial-on-concerns-related-to-damaged-nerve">serious adverse event</a> reported in a Phase 2 trial participant.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306985/coinbase-ceo-brian-armstrong-wants-to-know-how-elon-musk-gets-so-much-done-wants-an-in-dep?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Coinbase CEO Brian Armstrong Wants To Know How Elon Musk Gets So Much Done — Wants An In-Depth Study Done</a>
Phunware, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHUN#NASDAQ">PHUN</a>)
Phunware&#8217;s shares traded higher by 17.63% to close at $6.34. The stock&#8217;s intraday high and low were $6.62 and $5.8, with a 52-week range of $2.85 to $24.5. The company <a href="https://www.benzinga.com/markets/equities/24/10/41358201/whats-going-on-with-trump-related-phunware-stock-today">announced plans</a> to invest in its AI-powered platform for advocacy and voter engagement, recalling its successful development of the Donald Trump 2020 Presidential Campaign app.
Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)
Lucid Group&#8217;s shares saw a minor increase of 0.31% to close at $3.28. The stock&#8217;s intraday high and low were $3.33 and $3.26, with a 52-week range of $2.29 to $5.31. The company announced a <a href="https://www.benzinga.com/news/24/10/41369986/lucid-stock-is-tumbling-wednesday-whats-driving-the-action">public offering</a> of 262,446,931 shares of its common stock, along with a corresponding investment from an affiliate of the Public Investment Fund (PIF).
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose 0.80% to close at $221.33. The stock&#8217;s intraday high and low were $222.82 and $218.93, with a 52-week range of $138.8 to $271. Tesla <a href="https://www.benzinga.com/news/24/10/41353805/elon-musks-tesla-dominates-us-ev-market-with-3-of-top-5-best-selling-models-in-q3">dominated the U.S. EV market</a> in the third quarter with three of the top five best-selling models, according to estimates from Kelley Blue Book.
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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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>

Equities

HOOD

LCID

NVAX

PHUN

TSLA

Robinhood, Novavax, Phunware, Lucid Group, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Anthony Scaramucci, CEO of SkyBridge Capital, revealed his significant investments in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency by market capitalization.
What happened: During an interaction with well-known podcaster Natalie Brunell, Scaramucci shared anecdotes about his conversation with MicroStrategy CEO Michael Saylor.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When <a href="https://twitter.com/Scaramucci?ref_src=twsrc%5Etfw">@Scaramucci</a> wrote a recommendation of 1-3% allocation to <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> in his upcoming book, <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> had something to say about that&#8230; &quot;If you tell somebody to own 2% Bitcoin, that means they have to come up with 50 other ideas as good as Bitcoin! Anthony, do you have 50 other… <a href="https://t.co/DrqasfZN7w">https://t.co/DrqasfZN7w</a> <a href="https://t.co/xuPbeEmUQ2">pic.twitter.com/xuPbeEmUQ2</a>
&mdash; Natalie Brunell &#x26a1;&#xFE0F; (@natbrunell) <a href="https://twitter.com/natbrunell/status/1846527711054868636?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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While <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l">working on his book</a> "The Little Book of Bitcoin," the foreword of which was penned by Saylor, Scaramucci recalled being asked by fellow Bitcoin bull how much he owned in the apex cryptocurrency.
"55% of my net worth is tied up in Bitcoin," Scaramucci said. "I haven&#8217;t sold any Bitcoin thank God, knock on wood!"
Scaramucci added that initially, he finished his book by presenting a case of allocating around 1-3% of one's portfolio toward Bitcoin. But after Saylor asked him to mention his exposure as well along with the recommendation, he reworded it.
According to Amazon, the book is a guide to understanding the implications of digital asset technology on finance, touching down on basic Bitcoin concepts like blockchain, hashes, and mining.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41349588/cathie-woods-ark-invest-says-ethereum-is-a-big-idea-that-will-transform-the-financial-serv">Cathie Wood&#8217;s Ark Invest Says Ethereum Is A Big Idea That Will Transform The Financial Services Industry — ETH Is Beginning To &#8216;Develop Attributes&#8217; Similar To US Treasury Bills</a>
Why It Matters: A passionate advocate of Bitcoin, Scaramucci predicted last month that the apex cryptocurrency <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40723845/anthony-scaramucci-believes-bitcoin-could-reach-150k-200k-with-king-crypto-wallets-approac">would reach $150,000-$200,000</a> as ownership continues to grow.&nbsp;
Saylor is another prominent Bitcoin bull, holding <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40249632/michael-saylor-says-hes-a-bitcoin-billionaire-heres-how-many-coins-youd-need-to-be-one-you">nearly $1 billion in Bitcoin</a> and intending to buy more in the future.
Price Action: At the time of writing, Bitcoin was exchanging hands at $67,622.70, up 0.47% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo by World Economic Forum on Flickr
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Anthony Scaramucci Tells What Percentage Of His Wealth Is Tied Up In Bitcoin: 'I Haven't Sold Any. Thank God, Knock On Wood!'

As <a href="https://www.benzinga.com/topic/psilocybin">psilocybin</a> slowly gains acceptance as a <a href="https://www.benzinga.com/topic/psilocybin-assisted-therapy">potential mental health treatment</a>, websites claiming to sell magic mushrooms are multiplying online, operating in a gray area of legality. As DoubleBlind <a href="https://doubleblindmag.com/selling-mushrooms-on-the-internet/">reported</a>, while psilocybin remains a <a href="https://www.benzinga.com/topic/federal-schedule-i">Schedule I</a> substance in the U.S., these sites are capitalizing on the possibility of future legalization, following a path similar to that of cannabis.
<h3 class="wp-block-heading">Safety Concerns Mount As Unregulated Psychedelics Hit The Web</h3>
A simple Google search reveals websites like Shroomsnearme.com, which connects users to local mushroom suppliers, and Fungimaps.com, which models itself after <a href="https://www.benzinga.com/topic/weedmaps">WeedMaps</a>, offering directories of mushroom delivery services. Some sites, however, sell products directly to consumers, utilizing vague packaging and terminology to hint at their psychedelic content without explicitly stating it. A product like Ms. Mollie Cule tablets, for instance, claims to contain "pure mushroom essence," leaving buyers to interpret what that actually means.
The unregulated market is raising red flags among experts. Dr. Brian Pilecki, a licensed psilocybin facilitator in Oregon, notes the psychological risks involved when buyers don't fully trust their source. "Having any doubt [about] the environment or the situation can be seeds for paranoia, fear, or a number of adverse reactions during a psilocybin experience," he warns.
But as the industry continues to evolve, safety concerns remain. A recent <a href="https://doubleblindmag.com/notes-from-the-underground-mushroom-market/">investigation</a> by DoubleBlind revealed that many psychedelic products, available both online and in stores, contain synthetic substances like <a href="https://www.benzinga.com/markets/cannabis/24/08/40492487/deaths-and-severe-illness-linked-to-diamond-shruumz-products-experts-blame-reckless-manufacturin">4-AcO-DMT</a>. While some synthetic psychedelics are considered non-toxic, others may pose significant health risks due to the lack of regulation and quality control.
<h3 class="wp-block-heading">Legal Loopholes And Lack of Enforcement Drive Growth</h3>
Despite the risks, the market continues to grow, with many online vendors <a href="https://www.benzinga.com/markets/cannabis/22/11/29872683/metas-instagram-is-the-to-go-platform-for-illegal-weed-dealers-heres-why">mimicking the rise of cannabis services before widespread legalization</a>. Jodi Green, an attorney specializing in the regulatory landscape of cannabis and psychedelics, notes that these vendors are banking on the lack of federal enforcement. "People are simply agreeing to take the risk, assuming the federal government doesn't have the resources to chase after them."
As the psychedelic market grows, the legal landscape remains murky, leaving consumers to navigate a market with little assurance of product safety or legality. Until regulations are in place, experts continue to advise that the best rule for those experimenting with psychedelics remains: know and trust your source.
Cover image made with AI

Cannabis

Psychedelics

Regulations

Retail Sales

Online Mushroom Market Booms: Experts Say Be Very Careful

Peter Schiff, a renowned economist and financial commentator, has expressed his views on former President Donald Trump&#8217;s tariff strategy, advocating instead for lower taxes and fewer regulations.
What Happened: On Wednesday, Schiff took to X to criticize Trump&#8217;s approach to tariffs, stating, &#8220;Trump can&#8217;t impose tariffs on China. He can only impose tariffs on Americans who buy Chinese products.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump can&#39;t impose tariffs on China. He can only impose tariffs on Americans who buy Chinese products.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1846650698080887136?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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He further responded to a user advocating for the return of production to the U.S., stating, &#8220;We need to. But tariffs won&#8217;t make that happen. We need lower taxes and fewer regulations, particularly related to employment.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We need to. But tariffs won&#39;t make that happen. We need lower taxes and fewer regulations, particularly related to employment.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1846651214097695177?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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This comes amidst a broader discussion on the impact of tariffs on the U.S. economy, with various influential figures expressing their views on the matter.
Schiff said the point that was lost in all &#8220;China bashing&#8221; was that the country was one of the &#8220;main reasons the [Fed] has been able to create so much [inflation] under the guise of QE without pushing consumer prices and long-term interest rates much higher.&#8221;
He said in a separate post on X, &#8220;We exported our inflation and imported their consumer goods.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Lost in all the <a href="https://twitter.com/hashtag/China?src=hash&amp;ref_src=twsrc%5Etfw">#China</a> bashing is that China is one of the main reasons the <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> has been able to create so much <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> under the guise of QE without pushing consumer prices and long-term interest rates much higher. We exported our inflation and imported their consumer goods.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1846637282184589620?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41319060/s-p-500-extends-record-highs-dow-breaks-43-000-ahead-of-pivotal-earnings-week-bitco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Extends Record Highs, Dow Breaks 43,000 Ahead Of Pivotal Earnings Week, Bitcoin&#8217;s Rally Lifts Crypto Stocks: What&#8217;s Driving Markets Monday?</a>
Why It Matters: Schiff&#8217;s comments add to the ongoing debate on the effectiveness of tariffs as a tool for economic policy. His views contrast with those of Trump, who has been vocal about the use of tariffs to revitalize U.S. manufacturing. <a href="https://www.benzinga.com/news/24/10/41348822/mark-cuban-says-he-knows-what-trump-wants-to-achieve-with-tariffs-but-the-ex-president-has-no-idea-w">Mark Cuban</a>, billionaire and &#8220;Shark Tank&#8221; star, recently expressed skepticism about Trump&#8217;s approach, suggesting that a law requiring all manufacturing to be done in the U.S. within a decade would be more effective.
Trump defended his <a href="https://www.benzinga.com/general/politics/24/10/41344136/trump-goes-on-the-defense-about-massive-effect-of-tariffs-economic-growth-putin-relationship-djt">tariff strategy</a> in a recent interview at the Economic Club of Chicago, asserting that tariffs have a &#8220;massive effect&#8221; on economic growth.
The debate on tariffs versus taxes <a href="https://www.benzinga.com/real-estate/24/10/41333498/trumps-tariffs-vs-harriss-taxes-which-will-hit-luxury-real-estate-harder-experts-weigh-in">continues to be a key issue</a> ahead of the 2024 presidential election, with potential impacts on various sectors, including luxury real estate.
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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>

Politics

General

Trump Can't Impose Tariffs On China, Says Peter Schiff: 'He Can Only Impose Tariffs On Americans Who Buy Chinese Products'

In a recent interview with Fox News, Vice President Kamala Harris sidestepped questions regarding the Biden administration&#8217;s immigration policies. The interview, conducted by Bret Baier, saw Harris deflecting inquiries about the number of illegal immigrants released into the country and the reversal of Trump-era policies.
What Happened: During the interview, Baier questioned Harris about the Biden administration&#8217;s immigration record. Harris, however, shifted the focus towards the need for immigration system reform. 
She was asked about the number of immigrants illegally in the country to which she responded by saying, &#8220;Bret, let&#8217;s just get to the point, ok?&#8221; 
&#8220;The point is that we have a broken immigration system that needs to be repaired.&#8221;
When asked about the reversal of Trump-era policies like Remain in Mexico, Harris pointed out the Biden administration&#8217;s initial legislative push for immigration reform and accused Trump of blocking a bipartisan immigration bill.
Baier also brought up the tragic cases of Jocelyn Nungaray, Rachel Morin, and Laken Riley, all victims of violent illegal immigrants who entered the country during the Biden administration. Harris expressed her sympathy for the victims&#8217; families and emphasized the need for more border agents and support for those working to prevent future harm.
See Also: <a href="https://www.benzinga.com/government/24/10/41308384/mark-cuban-clashes-with-bill-ackman-after-billionaire-fund-manager-calls-kamala-harris-startup-tax-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Clashes With Bill Ackman After Billionaire Fund Manager Calls Kamala Harris&#8217; Startup Tax Deduction Proposal &#8216;Extremely Misleading:&#8217; &#8216;We Need To Get You Watching Shark Tank&#8217;</a>
Harris was asked when did the border start becoming a crisis. In response she said, &#8220;We&#8217;ve had a broken immigration system transcending, by the way, Donald Trump&#8217;s administration, even before. Let&#8217;s all be honest about that.&#8221;
&#8220;I have no pride in saying that this is a perfect immigration system. I&#8217;ve been clear. I think we all know that it needs to be fixed. &#8220;
Why It Matters: The interview had sparked <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41366181/kamala-harriss-fox-news-interview-will-likely-mention-project-2025-israel-and-one-other-co">considerable speculation</a> among prediction market traders about the topics Harris would address. The top subjects expected to be mentioned included Abortion, Project 2025, Israel, and Medical Records.
Harris <a href="https://www.benzinga.com/news/24/10/41348386/trump-falls-3-points-behind-harris-in-new-poll-economic-worries-dominate-voter-concerns-report">held a slim lead</a> over Republican Donald Trump in the latest Reuters/Ipsos poll. The poll suggested a potential rise in voter enthusiasm, especially among Democrats, compared to the 2020 presidential election.
Both Harris and Trump were <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41370777/trump-harris-consider-joe-rogan-podcast-could-spotify-ride-2024-election-wave-analy">considering appearances</a> on &#8220;The Joe Rogan Experience&#8221; podcast ahead of the 2024 presidential election, potentially impacting media stocks and advertising spend.
Photo courtesy: Wikimedia
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<li>Lawmakers Made Huge Investments This Year. <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>
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>

Kamala Harris Pulls A Reverse Card, Puts Trump At Fault For Border Crisis In Fox News Interview: 'Let's Just Get To The Point, Ok?'

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is trading higher by 10% to the $0.000018-level over the trailing week. Strength comes amid a broader market rally driven by Bitcoin, trading near the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41367220/bitcoin-ethereum-dogecoin-trade-like-no-bear-market-on-the-horizon-trader-predicts-all-tim">$67,000-level</a>.&nbsp;
The surge in Bitcoin has taken 96% of its holders into profit, boosting sentiment across the crypto sector, including Shiba Inu.
Shiba Inu's history of surging alongside its meme coin counterpart Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which is up 15% over the past week, adds weight to the argument that a speculative rally could follow in the near future.
What Else: As Bitcoin and Ethereum draw more institutional and retail interest, some of that attention is naturally spilling over to smaller altcoins like Shiba Inu, which can experience rapid price swings in response to overall market excitement.
Additionally, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41313376/bitcoin-closes-in-on-65k-as-etfs-see-over-400m-in-net-inflows">recent surge in blockchain equity ETFs</a>, which recently saw their largest weekly inflows of the year, is contributing to a broader wave of positive sentiment across the crypto sector. This institutional inflow not only boosts confidence in established cryptocurrencies but also strengthens market momentum for speculative assets like Shiba Inu.
Read Also: <a href="https://www.benzinga.com/fintech/24/10/41371235/robinhood-announces-futures-trading-index-options-trading">Robinhood Announces Futures Trading, Index Options Trading</a>
Why This Matters: Originally launched as a <a href="https://www.benzinga.com/topic/meme-coins">meme coin</a>, Shiba Inu has evolved beyond its playful origins to become a serious contender in the cryptocurrency world, bolstered by a passionate community and its expanding ecosystem, which includes decentralized exchanges and <a href="https://www.benzinga.com/topic/nfts">NFT</a> initiatives. 
Shiba Inu's low cost per token and potential for explosive price movements make it particularly appealing to retail investors looking to diversify their crypto holdings during bullish market phases.
Shiba Inu's rising popularity is also linked to its accessibility for smaller investors. Its extremely low price per token allows for speculative plays with less capital, offering exposure to potential gains driven by social media buzz and community-driven projects.&nbsp;
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41357154/crypto-lobbyists-are-quietly-influencing-2024-election-this-is-their-playbook">Crypto Lobbyists Are Quietly Influencing 2024 Election: This Is Their Playbook</a>
What&#8217;s Next: The influence of altcoins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.

$DOGE

$SHIB

Why Dogecoin Rival Shiba Inu Is Up 10% Over The Past Week

In Paraguay, the industrial cannabis sector is celebrating. They&#8217;ve <a href="https://www.ip.gov.py/ip/2024/10/15/paraguayan-cannabis-conquers-europe-european-market-buys-entire-flower-production/">announced</a> reaching a milestone as the European market has purchased the entirety of the country's premium cannabis flower production for 2024. 
The agreement marks a key moment in Paraguay's expanding role in the global cannabis market, particularly in <a href="https://www.benzinga.com/markets/cannabis/24/06/39442869/2-9b-european-cannabis-market-a-strategic-blueprint-for-cross-border-transportation-logistics">Eastern Europe</a>, where demand for high-quality cannabis products is growing.
<h3 class="wp-block-heading">Crafting Of Success</h3>
The deal was <a href="https://www.ip.gov.py/ip/2024/10/15/paraguayan-cannabis-conquers-europe-european-market-buys-entire-flower-production/">confirmed</a> by the government following a series of developments earlier this year when a shipment of cannabis flower samples was sent from Paraguay to Europe. The high quality of the flowers captured the attention of European entrepreneurs, prompting them to visit Paraguay.
During their visit, they sealed the agreement and introduced advanced technology to enhance the preservation and <a href="https://www.benzinga.com/markets/cannabis/24/07/39739336/govt-owned-cannabis-company-exports-flower-from-argentina-to-eu-australia-secures-purchase-order">transportation of the flowers</a>.
"They brought a technology called freeze-drying. Producers harvest the cannabis flowers and place them in refrigerated containers at -30 degrees. The flowers are frozen fresh, not dried. This way, the production is bought fresh and green," explained Marcelo Demp, president of the Paraguayan Chamber of Industrial Cannabis (CCIP) to <a href="https://infonegocios.com.py/infoagro/mercado-europeo-asegura-el-100-de-la-produccion-anual-de-flores-de-cannabis-paraguayo">Infonegocios</a>. This innovative method ensures that the flowers maintain their quality during transportation to Europe, a crucial factor for markets with high standards.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39442869/2-9b-european-cannabis-market-a-strategic-blueprint-for-cross-border-transportation-logistics">$2.9B European Cannabis Market: A Strategic Blueprint For Cross-Border Transportation Logistics</a>
<h3 class="wp-block-heading">Expanding Production To Meet Demand</h3>
The Paraguayan plantations involved in this agreement are located in Areguá, Nueva Italia, Iruña and Hernandarias. Although precise production volumes cannot yet be confirmed due to variable crop yields, Demp estimates a minimum yield of 5 tons per hectare, potentially generating up to $25,000 per hectare.
Despite this success, Demp acknowledged that current production levels are not yet sufficient to fully meet European demand. 
As a result, the CCIP is actively seeking more producers to join the industry to boost the sector's capacity and ensure Paraguay's position in the growing global cannabis market.
In September, neighbor Argentina also made a significant move in the global cannabis market by <a href="https://www.benzinga.com/markets/cannabis/24/06/39173275/argentina-targets-europe-with-major-cannabis-export-deals">exporting medicinal cannabis </a>to Switzerland and partnering with Germany&#8217;s Cantourage Group SE to introduce Patagonia Heritage's products to Europe.
Prior to that, another Argentine state-owned company completed its <a href="https://www.benzinga.com/markets/cannabis/24/07/39739336/govt-owned-cannabis-company-exports-flower-from-argentina-to-eu-australia-secures-purchase-order">first export of cannabis flowers</a> to Europe and Australia, securing contracts worth $5.4 million annually for therapeutic use.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Rapid Growth Since 2019</h3>
The industrial cannabis industry in Paraguay, which only began in 2019 after the approval of its legal framework, has experienced exponential growth. 
In just five years, the country has exported <a href="https://www.benzinga.com/markets/cannabis/21/08/22359616/paraguay-to-export-cannabis-oil-to-usa-and-australia">over 600 tons of cannabis products</a> and raw materials to various international markets. Products such as gummies, infusions and cannabis derivatives have also helped Paraguay boost its primary production.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/06/39173275/argentina-targets-europe-with-major-cannabis-export-deals">Argentina Targets Europe With Major Cannabis Export Deals</a></li>
</ul>
Cover: AI generated image

Latin America

Guaraní Cannabis Lands In Europe: Paraguay To Export 100% Of Its Flower Production

A Georgia judge has overturned several controversial election rules, asserting that the Pro-Trump GOP-majority Georgia Election Board does not have the authority to enforce them.
What Happened: Fulton County Superior Court Judge Thomas Cox Jr. ordered the rejection of seven rules, including the requirement for hand-counted ballots by precinct, ahead of the November elections, as reported by <a href="https://thehill.com/homenews/state-watch/4937832-judge-rejects-controversial-rules-including-hand-count-rule-from-georgia-board/">The Hill</a>.
Judge Cox stated in his ruling that the Georgia Election Board &#8220;has no constitutional authority to promulgate these rules.&#8221; He added that the U.S. Constitution prohibits the State Board Election from enacting election rules concerning the election of federal officers.
The Georgia Election Board has been under fire for passing controversial rules months before the election. Even some of the state&#8217;s top Republicans have expressed concern over some of the rulemaking, particularly the hand-count law.
The rules and Cox&#8217;s recent decision are particularly significant as Georgia is among a few battleground states that will decide if former President Donald Trump or Vice President Kamala Harris return to the White House. Trump won Georgia in 2016 but lost it to President Biden in 2020.
See Also: <a href="https://www.benzinga.com/news/24/10/41348822/mark-cuban-says-he-knows-what-trump-wants-to-achieve-with-tariffs-but-the-ex-president-has-no-idea-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Knows What Trump Wants To Achieve With Tariffs But The Ex-President Has No Idea What It Takes To Do It — &#8216;That&#8217;s How Crazy His Approach Is&#8217;</a>
Why It Matters: The decision comes at a critical time as the race for the White House has become <a href="https://www.benzinga.com/news/24/10/41331062/trump-vs-harris-vice-president-goes-from-deficit-to-slender-lead-in-new-poll-but-battleground-states">too close for comfort</a>. Vice President Harris led her Republican rival Trump by merely a point in a recent poll. The same report also highlighted that battleground states favor the ex-president, making the Georgia ruling even more significant.
Harris&#8217; <a href="https://www.benzinga.com/general/politics/24/10/41347642/harris-vs-trump-vice-president-holds-lead-in-2024-election-poll-but-former-president-is-closing-">lead over Trump has been shrinking</a>, with less than one month until the 2024 presidential election. The Georgia ruling could potentially impact the election outcome, given the state&#8217;s pivotal role in the electoral landscape.
Image via Shutterstock
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<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>
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>

Trump-Harris Race: Georgia Judge Overrules Republican-Enforced Election Rules Ahead Of Crucial November Elections: 'No Constitutional Authority To Promulgate'

PEGY

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Vice President Kamala Harris is gaining praise from cannabis industry leaders for her plans to federally legalize marijuana, which advocates believe could unlock significant economic <a href="https://www.benzinga.com/markets/cannabis/24/06/39319868/meet-the-man-who-did-prison-time-for-non-violent-cannabis-offense-and-now-advocates-for-others-i">opportunities for Black men. </a>
In a recent op-ed, The Cannabis Vanguard a coalition of cannabis professionals, applauded Harris' proposal as a step toward addressing the lasting harm caused by marijuana criminalization, particularly in Black communities.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41314909/kamala-harris-unveils-policy-plan-for-black-men-focusing-on-economic-opportunity-health-cannabis">Kamala Harris Unveils Policy Plan For Black Men, Focusing On Economic Opportunity, Health, Cannabis Legalization</a>
In their op-ed, titled "The Next President Is Ready to Legalize Cannabis for Black Men," the group outlines how Harris&#8217; plan would help dismantle the systemic obstacles that have disproportionately affected Black men, who have faced over-policing for marijuana-related offenses for decades.
<h3 class="wp-block-heading">Opening Economic Doors Through Legalization</h3>
Harris' proposal to legalize marijuana at the federal level is at the heart of her "Opportunity Agenda" proposal for Black men, presented on Monday. By working with Congress to "make the safe cultivation, distribution, and possession of recreational marijuana the law of the land," Harris aims to create a more inclusive market.
The Cannabis Vanguard (TCV) argues that a key component of this effort should be federal grants and loan programs targeting Black entrepreneurs and individuals impacted by marijuana criminalization.
Modeled after state-level programs like Illinois&#8217; Cannabis Social Equity Program, these initiatives would provide capital and support to aspiring cannabis business owners who might otherwise be shut out due to financial or legal barriers.
<h3 class="wp-block-heading">Expungement And A Path To Justice</h3>
One of the most transformative parts of Harris' cannabis platform, according to TCV, is the push for automatic expungement of nonviolent marijuana convictions. 
"Expungement removes barriers to employment, housing, education, and financial aid, allowing individuals to rebuild their financial lives," the op-ed says. 
<h3 class="wp-block-heading">Addressing Housing Barriers</h3>
Another critical area that The Cannabis Vanguard wants to see reformed is federal housing policies that exclude people with marijuana-related convictions from receiving housing assistance, such as Section 8. 
TCV says that creating cannabis-specific housing assistance programs would stabilize the housing situation for many Black men affected by past convictions. These reforms could open the door to homeownership and long-term wealth-building opportunities for those previously denied access to federal assistance.
<h3 class="wp-block-heading">Job Creation Through Cannabis</h3>
The op-ed also stresses the importance of tax incentives for cannabis companies that hire individuals with nonviolent marijuana convictions.
TCV believes that encouraging the industry to provide job opportunities for those with prior records would not only reduce unemployment but also give formerly incarcerated individuals a chance to thrive in a legal market.
<h3 class="wp-block-heading">A Vision For Justice And Economic Equality</h3>
The organization sees Harris' cannabis policy as an opportunity to right the wrongs of decades of marijuana criminalization. They argue that federal legalization, paired with strategic initiatives like expungement and targeted grants, could play a pivotal role in closing the racial wealth gap and helping Black men achieve economic stability.
"With legalization, our future president and Congress could address the longstanding economic harm done to Black men and other marginalized communities," The Cannabis Vanguard concludes.
The group's founding members include Wanda L. James, CEO of Simply Pure; Gia Morón, CEO of GVM Communications; Toi Hutchinson, former Illinois Cannabis Czar and State Senator; Roz McCarthy, CEO of Minorities for Medical Marijuana; Shanita Penny, Principal of Budding Solutions and Linda Mercado Greene, CEO of Anacostia Organics.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41362831/kamala-harris-agrees-trump-is-a-fascist-in-interview-with-charlamagne-tha-god-yes-we-can-say-tha">Kamala Harris Agrees Trump Is A Fascist In Interview With Charlamagne Tha God: &#8216;Yes, We Can Say That&#8217;</a></li>
</ul>
Image courtesy: The Cannabis Vanguard.

Kamala Harris' Marijuana Plan Could 'Remove Barriers To Employment, Housing And Education For Black Men' Industry Leaders Say

Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) CEO Vlad Tenev delivered the keynote speech about exclusive product announcements to kick off the company's HOOD Summit 2024<a href="https://www.benzinga.com/partner/news/24/10/41366442/active-traders-and-investors-could-find-significant-balance-boosts-during-robinhoods-upcoming-hood-w"> in Miami, Florida. </a>
The Details: Tenev announced the launch of futures trading and index options trading in a major expansion of the platform's offerings. The Robinhood CEO said index options will be available for trading in the coming months with extended-hours trading available next year. 
Tenev did not give a timeframe for the rollout of futures trading in his speech. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41340022/amazon-analyst-expects-q3-earnings-with-revenue-growth-margin-expansion-relative-st">Amazon Analyst Expects Q3 Earnings With Revenue Growth, Margin Expansion, Relative Stable E-Commerce Demand</a>
Tenev also recapped Robinhood's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">platform improvements</a> over the past year including the addition of joint investment accounts, simulated options returns and reduced margin rates to the lowest among leading trading platforms. The CEO highlighted Robinhood's achievement of becoming the first retail brokerage to offer 24-hour trading of single-name stocks in the U.S. with more than 1,000 symbols available for 24-hour trading.&nbsp;
Robinhood's HOOD Summit 2024 <a href="https://go.robinhood.com/events">features speakers</a>, panel discussions and demonstrations on trading technology, investing and culture and continues through Oct. 18 in Miami, Florida.&nbsp;
HOOD Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Robinhood shares ended Wednesday's session 0.49% higher at $26.93. After-hours trading sees stock up 3.04% at $27.75.&nbsp;&nbsp;
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/10/41370426/pepsi-fights-back-against-shrinkflation-why-your-chip-bags-will-be-fuller-in-the-future">Pepsi Fights Back Against Shrinkflation: Why Your Chip Bags Will Be Fuller In The Future</a></li>
</ul>
Photo: Shutterstock

Fintech news covering the emerging Financial Technology services sector

Fintech

Futures

Options

After-Hours Center

Movers

Robinhood Announces Futures Trading, Index Options Trading

Trading Halt: Halted at 7:12:26 p.m. ET - Trading Halt: Halt News Pending

Great Southern Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSBC#NASDAQ">GSBC</a>) reported quarterly earnings of $1.41 per share which beat the analyst consensus estimate of $1.26 by 11.9 percent. This is a 6.02 percent increase over earnings of $1.33 per share from the same period last year. The company reported quarterly sales of $47.98 million which missed the analyst consensus estimate of $51.01 million by 5.95 percent. This is a 2.65 percent increase over sales of $46.74 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

GSBC

Great Southern Bancorp Q3 EPS $1.41 Beats $1.26 Estimate, Sales $47.98M Miss $51.01M Estimate

Media stocks are set to benefit from advertising spend by politicians, presidential debates and media appearances by presidential candidates during the <a href="https://www.benzinga.com/topic/2024-election">2024 election cycle.</a>
Music streaming platform Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) could turn out to be one of the underrated winners of the election season if it can grab interviews with both presidential candidates on one of the company's popular podcasts.
What Happened: Both Vice President Kamala Harris and Donald Trump are rumored to be making appearances on "The Joe Rogan Experience" podcast ahead of the <a href="https://www.benzinga.com/general/entertainment/24/10/41324364/kamala-harris-eyes-appearance-on-joe-rogan-experience-to-appeal-to-male-voters-as-president">2024 presidential election.</a>
Trump, who has never appeared on the podcast, <a href="https://x.com/nelkboys/status/1845292385850540122">confirmed </a>his appearance during an appearance on the "Full Send" podcast.
Harris is rumored to be considering going on the podcast as she continues<a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el"> her media blitz </a>that has included appearances on television and podcasts in recent weeks, targeting multiple different voter demographics.
"The Joe Rogan Experience" podcast, hosted by Joe Rogan, is among the top listened-to podcasts in the U.S. and a major subscriber driver for Spotify. The music company said earlier this year Rogan <a href="https://www.benzinga.com/news/24/03/37886499/joe-rogan-dominates-spotify-podcast-scene-with-triple-the-followers-of-nearest-competitor">had 14.5 million followers</a> on the platform. Rogan has been number one on Spotify for <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major">four straight years.</a>
Rogan has been exclusive to Spotify since 2020 and earlier this year <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">signed a multiyear renewal</a> worth a reported $250 million.
While Rogan will likely get huge viewership figures ahead of the 2024 election as he talks about political topics and has noteworthy guests, drawing one or both of Trump and Harris, who have never appeared on the podcast, could be among the most highly anticipated shows in his history.
Spotify could stand to benefit as the company might see a boost in subscribers, target advertising dollars and offer bundles ahead of the podcast appearances to take advantage of the interviews.
While Trump has often commanded strong viewership figures for his media appearances, Harris recently helped "The View" post its best ratings in three and a half years. Harris' appearance on the Oct. 8 episode averaged 3.14 million, marking the most watched episode of the daytime show since Feb. 2021, as reported by <a href="https://variety.com/2024/tv/news/kamala-harris-the-view-ratings-best-1236179122/">Variety</a>.
The strong viewership helped "The View" win the week for total viewers among its peers.
While Trump confirmed his appearance, consumers aren't convinced Harris will make an appearance with the sometimes controversial Rogan. A prediction market on Polymarket <a href="https://polymarket.com/event/will-kamala-go-on-joe-rogan-before-election">lists </a>a 33% chance of Harris going on the podcast.
On Polymarket, users can deposit funds using&nbsp;USDC&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/">USDC</a>) via the&nbsp;Polygon&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network, or directly from a crypto account with&nbsp;Ethereum&nbsp;(CRYPTO:&nbsp;<a href="https://www.benzinga.com/quote/eth/usd">ETH</a>). In each betting market, the winning option pays out at $1.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent101624">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Spotify Growth Potential: An appearance by Harris and/or Trump on "The Joe Rogan Experience" could help boost the growth prospects for Spotify, but an analyst sees future growth coming without either interview.
KeyBanc Capital Markets analyst Justin Patterson reiterated an Overweight rating and raised the price target on Spotify from $440 to $490.
The analyst said Spotify is "finding the sweet spot of growth and margin."
Spotify reports third-quarter financial results on Nov. 12, which is coincidentally a week after the 2024 election.
With improved growth and profitability, the analyst raises estimates for several financial metrics ahead of the earnings print.
Patterson sees Spotify reporting net adds of 13 million monthly active users and 5 million premium subscribers.
"Given less disruption from bundles, we believe Spotify could outperform both metrics."
The analyst said there could be some upside in guidance based on bundle rollouts. Patterson is also bullish on a potential coming catalyst that could be announced by the company soon.
"There are growing signs that a high-end plan will be launched in the coming months."
Patterson said revenue growth, steady margin expansion and capital returns are all items that could help send Spotify shares higher.
"We continue to believe there is meaningful upside to Street profitability forecasts. We continue to view valuation as compelling.
SPOT Price Action: Spotify shares closed down 0.24% to $371.69 on Wednesday versus a 52-week trading range of $145.76 to $389.23. Spotify stock is up 96% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports-betting/24/10/41347270/trump-vs-harris-2024-election-polls-sportsbooks-betting-odds-show-different-winners-for-20">Trump Vs. Harris: 2024 Election Polls, Sportsbooks Betting Odds Show Different Winners For 2024 Election</a></li>
</ul>
Photo: Courtesy Joe Rogan Experience

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Trump, Harris Consider Joe Rogan Podcast: Could Spotify Ride 2024 Election Wave? Analyst Says Company In 'Sweet Spot Of Growth'

Calumet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) and Gevo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>) shares are on the move in extended trading Wednesday after the companies received conditional commitments from the <a href="https://www.benzinga.com/pressreleases/24/10/g41369229/gevo-secures-conditional-commitment-from-u-s-department-of-energy-loan-programs-office-for-its-net">U.S. Department of Energy (DOE)</a>.
What Happened With CLMT: Calumet announced Wednesday that the DOE Loan Programs Office awarded a conditional commitment for a loan guarantee of up to&nbsp;$1.44 billion&nbsp;to fund the construction and expansion of a renewable fuels facility owned by Calumet subsidiary Montana Renewables.
The loan guarantee is structured in two tranches.&nbsp;The first tranche of approximately $778 million is expected to close in the fourth quarter and be disbursed from 2025 through the anticipated completion of the project in 2028. A&nbsp;$150 million&nbsp;equity investment will also be made at the initial closing.
&#8220;Through our collaboration with the U.S. Department of Energy, we are thrilled to continue forward on the leading edge of our nation&#8217;s Sustainable Aviation Fuel transition,&#8221; said&nbsp;Todd Borgmann, CEO of Calumet. 
&#8220;This investment will allow us to leverage our first-mover advantage and unique renewable hydrogen and pretreatment technologies to transform Montana Renewables into a world scale SAF producer.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41366736/netflix-q3-earnings-preview-ad-supported-plan-price-hikes-and-content-slate-key-foc">Netflix Q3 Earnings Preview: Ad-Supported Plan, Price Hikes, And Content Slate Key Focus As Company &#8216;Adds More And More Live Content&#8217;</a>
What Happened With GEVO: Gevo was also awarded a conditional commitment for a loan guarantee from the DOE&#8217;s Loan Programs Office, with disbursements totaling&nbsp;$1.46 billion. The commitment is related to the construction of the company&#8217;s Net-Zero 1 project (NZ1) in South Dakota.&nbsp;
&#8220;This marks a watershed moment for the Net-Zero 1 project and a critical step forward in Gevo&#8217;s mission to transform the aviation industry by providing a scalable, sustainable, and economical renewable-carbon-based jet fuel — SAF,&#8221; said Patrick Gruber, CEO of Gevo.
&#8220;This valuable commitment to help finance NZ1, if finalized, should also attract other capital investments to unlock SAF commercialization given the robust due diligence conducted by the agency.&#8221;
CLMT, GEVO Price Action: At publication time after market hours, Calumet shares were up 19.74% at $26.26 and Gevo shares were up 46.22% at $3.28, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

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Calumet, Gevo Shares Are Soaring Wednesday: What's Going On?

In a marked reversal, PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) says it will be adding more chips to some bags in a move designed to lure consumers who have grown <a href="https://www.benzinga.com/personal-finance/24/09/41027068/kevin-oleary-says-we-need-answers-not-kumbaya-politics-takes-aim-at-harris-for-offering-no-real-">tired of "shrinkflation." </a>
The Details: According to a CNN <a href="https://www.cnn.com/2024/10/16/business/tostitos-chips-shrinkflation-pepsi/index.html">report</a>, the largest snack manufacturer in the U.S. will fight back against the trend of smaller sizes at higher prices.&nbsp;
PepsiCo, which produces Lay's, Tostitos, Doritos and Ruffles brand snacks, will begin offering Tostitos and Ruffles "bonus" bags that contain 20% more chips for the same price as the standard size. The company will also be adding two additional chip bags to its 18-bag variety-pack option, the spokesperson told CNN. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41340022/amazon-analyst-expects-q3-earnings-with-revenue-growth-margin-expansion-relative-st">Amazon Analyst Expects Q3 Earnings With Revenue Growth, Margin Expansion, Relative Stable E-Commerce Demand</a>
TD Cowen analyst Robert Moskow said Pepsi's competitors will likely follow suit and increase the size of their packaging. The TD Cowen analyst highlighted increasing snack prices which have grown 36% since 2020, outpacing a 21% increase in overall grocery prices. 
The average price of 16-ounce potato chips in September 2024 was $6.46, up from $5.02 in September 2020, <a href="https://fred.stlouisfed.org/series/APU0000718311">according to the Bureau of Labor Statistics.</a>
Pepsi&#8217;s Profits Shrink: Cash-strapped consumers have reacted to the higher prices by purchasing fewer snacks.&nbsp; PepsiCo's snack sales fell 1% <a href="https://www.benzinga.com/news/earnings/24/10/41225048/pepsico-adjusts-2024-revenue-expectations-after-mixed-q3-performance-and-global-challenges">last quarter</a>, snack volumes dropped 1.5% and the company's third-quarter revenue was more than $500 million below the Street's estimate, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;
Pepsi CEO Ramon Laguarta addressed the issue in the company's earnings call last week.&nbsp;
&#8220;The cumulative impacts of inflationary pressures and higher borrowing costs over the last few years have continued to impact consumer budgets and spending patterns,&#8221; Laguarta said.
PepsiCo is hoping to revive its snack food segment by providing more value to its customers in the form of more chips per bag.&nbsp;
PEP Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, PepsiCo shares ended Wednesday's session down 0.81% at $174.48. 
Read Also: 
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<li><a href="https://www.benzinga.com/government/24/10/41346351/cybersecurity-firm-warns-of-threats-to-2024-presidential-election-integrity">Cybersecurity Firm Warns Of Threats</a></li>
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Pepsi Fights Back Against Shrinkflation: Why Your Chip Bags Will Be Fuller In The Future

Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) reported quarterly earnings of $1.23 per share which beat the analyst consensus estimate of $1.08 by 13.89 percent. This is a 46.43 percent increase over earnings of $0.84 per share from the same period last year. The company reported quarterly sales of $564.720 million which beat the analyst consensus estimate of $559.198 million by 0.99 percent. This is a 2.62 percent increase over sales of $550.298 million the same period last year.

Synovus Finl Q3 2024 Adj. EPS $1.23 Beats $1.08 Estimate, Sales $564.720M Beat $559.198M Estimate

Oriental Rise Holding Limited is an integrated supplier of tea products in mainland China.&nbsp;
The ordinary shares are expected to commence trading on Nasdaq Capital Market under the ticker symbol &quot;ORIS&quot; on October 17, 2024.
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Oriental Rise Holding Prices IPO Of 1.75M Ordinary Shares At $4 Per Share, For Total Gross Proceeds Of $7M

Clover gains, Humana dips as Medicare finalizes 2025 Star Ratings (update)

Most major U.S. managed care insurers set for sequential earnings declines in Q3

This week, several major companies will be reporting earnings. Among them are Netflix (NFLX), Bank of America (BAC), Johnson & Johnson (JNJ), Citig...

Options Volatility and Implied Earnings Moves This Week, October 15 – October 18, 2024

UnitedHealth dips as cost concerns weigh on insurance unit

UnitedHealth in selloff as 2025 outlook disappoints

UnitedHealth drags rivals as 2025 outlook disappoints

TD Cowen analyst Gary Taylor maintained a Buy rating on Elevance Health (ELV – Research Report) today and set a price target of $589.00. The compan...

Elevance Health (ELV) Gets a Buy from TD Cowen

Analyst Michael Ha of Robert W. Baird maintained a Buy rating on Elevance Health (ELV – Research Report), with a price target of $625.00. Michael H...

Elevance Health: Buy Rating Affirmed Amid Attractive Valuation and Positive Long-Term Outlook

Elevance Health Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

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Press Releases

AREX Capital Expresses Disappointment in Enhabit's Strategic Review Conclusion

Elevance Health Announces Appearance at Bernstein's 40th Annual Strategic Decisions Conference

Elevance Health Announces Appearance at Goldman Sachs 45th Annual Global Healthcare Conference

Elevance Health to Hold Conference Call and Webcast to Discuss Second Quarter 2024 Results on July 17, 2024

Elevance Health Releases Impact Report

Elevance Health Reports Second Quarter 2024 Results

Elevance Health Teams Up with the Impact Fitness Foundation to Support Irvington Preparatory Academy

Elevance Health's Whole Health Index Demonstrates Opportunity to Improve Health

Elevance Health Responds to Communities Affected by Hurricane Helene

Elevance Health to Hold Conference Call and Webcast to Discuss Third Quarter 2024 Results on October 17, 2024

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