Weatherford International Azioni (NASDAQ: WFRD)

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Weatherford International

Weatherford International provides diversified oilfield services across international markets for an array of oilfield types. The firm is a global market leader in artificial lift and tubular running services. Other key product lines include cementing products, directional drilling, and wireline evaluation.

Weatherford International plc - Ordinary shares

Weatherford International PLC

Mizuho analyst Brett Linzey initiates coverage on Applied Industrial Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>) with a Outperform rating and announces Price Target of $285.

News

Price Target

Initiation

Analyst Ratings

Mizuho Initiates Coverage On Applied Industrial Techs with Outperform Rating, Announces Price Target of $285

Baird analyst Joel Beatty initiates coverage on Contineum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNM#NASDAQ">CTNM</a>) with a Outperform rating and announces Price Target of $32.

CTNM

Baird Initiates Coverage On Contineum Therapeutics with Outperform Rating, Announces Price Target of $32

A week before releasing its earnings report, an activist investor has taken a stake in&nbsp;Cheesecake Factory&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>) and is reportedly urging the company to spin off three&nbsp;smaller brands into a separate public entity. Following the report, the company shot up during the pre-market.
What Happened: According to&nbsp;<a href="https://pro.benzinga.com" target="_blank" rel="noopener">Benzinga Pro,</a>&nbsp;Cheesecake Factory traded 4.64% higher at $44.42 during the pre-market on Tuesday after closing at $42.45 on Monday.
Houston-based JCP Investment Management, known for its focus on the restaurant sector, has acquired about 2% of Cheesecake Factory, as indicated in an August regulatory filing. The investor is advocating for the separation of three brands: North Italia, Flower Child, and Culinary Dropout, each with a unique dining concept, The Wall Street Journal <a href="https://www.wsj.com/business/deals/activist-urges-cheesecake-factory-to-consider-breakup-c805ddf9">reported</a> on Tuesday. 
JCP believes these brands could flourish independently, with dedicated management teams focusing on their growth objectives. The activist investor has also expressed a willingness to provide capital to aid the new entity&#8217;s expansion, according to sources familiar with the situation.
The Cheesecake Factory, based in Calabasas, California, operates over 300 locations across the U.S. and Canada. Known for its extensive menu, the company has faced challenges in recent years, with growth stalling since 2017. A spokesperson for Cheesecake Factory acknowledged JCP&#8217;s investment and stated the company regularly engages with shareholders to consider their perspectives.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41417379/nvidia-stock-is-up-over-233-in-the-past-year-and-tech-bulls-say-it-could-go-even-hi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Is Up Over 233% In The Past Year And Tech Bulls Say It Could Go Even Higher From Here: &#8216;…You&#8217;ll See The Stock Double Over The Next Several Years&#8217;</a>
Why It Matters: The push for a strategic breakup by JCP Investment Management comes at a time when Cheesecake Factory has been grappling with stagnant growth. The company&#8217;s performance has been under scrutiny, and the proposed separation of its brands could potentially unlock value and drive growth. The move aligns with broader trends in the restaurant industry, where companies are exploring ways to streamline operations and focus on core strengths.
Moreover, the willingness of JCP to provide capital for expansion highlights the investor&#8217;s confidence in the potential of the spun-off brands. This development could lead to increased competition in the dining sector, as the newly independent brands strive to establish their presence and capture market share.
Read Next: 
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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.
Image by Phillip Pessar via Flickr

Equities

Pre-Market Outlook

Markets

General

CAKE

Cheesecake Factory Shares Jumps In Pre-Market After Activist Investor Reportedly Pushes For Strategic Breakup

On Monday, chipmaker Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) unveiled its latest high-end smartphone SoC, the Snapdragon 8 Elite, which boasts a new Oryon CPU and enhanced AI capabilitie.
What Happened: The Snapdragon 8 Elite replaces the Kryo CPUs previously used in Qualcomm&#8217;s mobile chipsets.
The Oryon CPU, dubbed a second-gen chipset by Qualcomm, includes two prime cores, six performance cores,&nbsp;an X80 5G modem-RF chip,&nbsp;and an Adreno GPU with&nbsp;a new sliced architecture.
Chris Patrick, Qualcomm's mobile handset SVP, stated that the upgraded hardware would provide more desktop-like performance on smartphones.
See Also: <a href="https://www.benzinga.com/news/24/10/41442330/jeff-bezos-would-have-named-amazon-as-relentless-but-then-someone-said-it-sounded-sinister-hes-since?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Would Have Named Amazon As &#8216;Relentless&#8217; But Then Someone Said It Sounded Sinister — He&#8217;s Since Built A Business Empire That Knows No Limits</a>
Patrick said the new Oryon-powered Snapdragon chipset will enable a better AI experience &#8220;by offering personalized, multi-modal generative AI directly on the device enabling the understanding of speech, context, and images to enhance everything from productivity to creativity tasks.&#8221;
The Snapdragon 8 Elite also features an upgraded Hexagon NPU supporting&nbsp;on-device multimodal AI assistants that&nbsp;can handle text input as&nbsp;well as visuals.
It also supports&nbsp;an on-device AI-powered video object&nbsp;eraser tool to remove distractions&nbsp;from video clips. Brands&nbsp;like Asus, Honor, OnePlus, Oppo,&nbsp;and Xiaomi are expected to&nbsp;launch devices featuring the new chipset in the coming weeks.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development comes on the heels of an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41317937/qualcomm-set-for-50-surge-in-snapdragon-8-gen-4-shipments-by-late-2024-analyst-pred">analyst prediction that&nbsp;Qualcomm</a> is set for a 50% surge in Snapdragon 8 Gen 4 shipments by late 2024.
The company&#8217;s stock price has already factored in the negative impact of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) developing its own 5G chips, said the analysts. 
The chipmaker is poised to benefit from better-than-expected momentum in the fourth quarter of 2024 and favorable trends in 2025, according to Ming-Chi Kuo.
Earlier in September,&nbsp;it was reported that Qualcomm had approached Intel Corp <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">for a possible takeover</a>, which if successful, could significantly bolster its market position.
However, according to &nbsp;Benchmark&nbsp;analyst Cody Acree, &#8221;&nbsp;Qualcomm&#8217;s ultimate acquisition of Intel is logically unlikely.&#8221;
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41418188/ai-power-demand-skyrockets-nvidia-ceo-lauds-openai-and-teslas-optimus-robots-assisted-by-humans-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Power Demand Skyrockets, Nvidia CEO Lauds OpenAI, And Tesla&#8217;s Optimus Robots Assisted By Humans: This Week In AI</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Qualcomm

Tech

Media

AAPL

QCOM

Qualcomm's New Chipset Brings Multi-Modal Generative AI To Android Phones, Boosting Competition With iPhone 16

DDC Enterprises, Ltd. (NYSEAM:<a class="ticker" href="https://www.benzinga.com/stock/DDC#NYSEAM">DDC</a>), ("DayDayCook," "DDC," or the "Company"), a leading multi-brand Asian consumer food company, today issued a corporate update in a Letter to Shareholders from CEO Norma Chu.
To Our Valued Shareholders:
I am pleased to share important updates and improvements from DayDayCook as we reflect on our first year as a publicly listed company. While we have faced our share of challenges during this transition, we have proactively addressed them and are emerging as a stronger organization.
Improved Corporate Infrastructure
To enhance our operational capabilities, we have established a new finance and accounting team dedicated to managing our ongoing financial filing requirements. On September 30, 2024 we appointed Enrome LLP ("Enrome") as our independent registered public accounting firm. This engagement will be led by our newly hired co-CFO and principal accounting officer, Tony Tao. Additionally, we welcomed Jeff Ervin in June, who serves as co-CFO in a fractional capacity, focusing on our strategic financial initiatives. With this experienced finance team in place, we are confident in our ability to meet future filing deadlines.
Revenue Momentum and Strong Cash Position
The Company ended 2023 with estimated total 2023 revenue between $28 and $29 million USD, representing an increase of 10-14% over 2022. Profitability also improved with gross margin increasing from 24.5% to an estimated 24.9-25.1% by the end of the year. We ended 2023 with estimated USD 25.8m of cash and short-term investment.
Driving Growth and Revenue Through Acquisitions
This year, we successfully completed two important acquisitions that enhance our presence in the United States: Yai's Thai and Omsom. These well-respected brands align perfectly with our business vision. Following the acquisition of Yai's Thai, we implemented distribution synergies that expanded brand availability with retailer Sprouts, resulting in a nationwide launch of Yai's Thai packaged sauce series and a notable increase in presence across Sprouts locations. We remain disciplined in our analysis of acquisition opportunities, focusing on targets that not only broaden our product portfolio but also deliver meaningful financial and operational synergies. In June, we welcomed Malik Sadiq as Chief Operating Officer, who brings invaluable industry experience and expertise in integrating acquisitions and optimizing internal efficiencies.
Retiring Debt
In August, we announced the successful elimination of $4.8 million in debt, significantly enhancing our balance sheet. We anticipate utilizing cash on hand and other strategic measures to further reduce outstanding debt by year-end. We believe that the current interest rate environment and our balance sheet improvements will enable us to refinance additional outstanding obligations, resulting in increased future cash flows.
Overall, we have enriched our leadership team with experienced professionals who are committed to refining our internal processes. With our portfolio of well-recognized Asian food brands, including Omsom, Yai's Thai, and others, we have a robust foundation for sustainable growth. We believe that DayDayCook is well positioned to become the most influential player in the Asian food market in the U.S. Additionally, with our foundational operations in China, we expect to benefit from the recent announcement of economic stimulus in the country. Together, these factors position us to seize the momentum in the ready-to-heat and ready-to-eat Asian food market.
Thank you for your continued support.
Sincerely,
Norma Ka Yin Chu
Founder &amp; CEO

Earnings

Management

DayDayCook Sees 10%-14% FY23 Revenue Growth, Retires $4.8M in Debt, Expands US Operations

<a href="https://www.wsj.com/business/deals/activist-urges-cheesecake-factory-to-consider-breakup-c805ddf9" title="https://www.wsj.com/business/deals/activist-urges-cheesecake-factory-to-consider-breakup-c805ddf9">https://www.wsj.com/business/deals/activist-urges-cheesecake-factory-to-consider-breakup-c805ddf9</a>

Insider Trades

The Wall Street Journal Reported Monday,  Activist JCP Investment Management Has 2% Stake in Cheesecake Factory; Urges Cheesecake to Consider Spinning Out Three Brands

To secure its proposed acquisition of United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Japanese steelmaker Nippon Steel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) has boosted its lobbying spending in Washington.
What Happened: Nippon Steel has spent $1.3 million on lobbying between July and September, a substantial increase from the $1.1 million spent in the preceding seven months, according to a <a href="https://lda.senate.gov/filings/public/filing/4966e2b0-b81c-4186-b0c7-32633e4acc86/print/">disclosure</a> by the firm hired by the Japanese steelmaker.
The company is facing resistance from U.S. lawmakers, who have expressed concerns over the proposed $15 billion acquisition.
Nippon Steel hired Akin Gump Strauss Hauer &amp; Feld to lobby on issues related to the merger. The firm <a href="https://lda.senate.gov/filings/public/filing/c57e786a-a603-4359-b96a-bea177a6fa78/print/">disclosed</a> lobbying activities with various government bodies, including the House, Senate, and the Office of the U.S. Trade Representative.
The surge in lobbying spending coincides with a crucial phase for the merger in Washington. President Joe Biden was reportedly <a href="https://www.benzinga.com/m-a/24/09/40724057/biden-administration-reportedly-warns-nippon-steels-14-9b-acquisition-of-us-steel-poses-national-sec">set to block the acquisition in September</a>, prompting Nippon Steel&#8217;s vice chair to make a last-ditch effort to save the deal. 
The Committee on Foreign Investment in the United States (CFIUS) subsequently allowed Nippon Steel to refile its <a href="https://www.benzinga.com/government/24/09/40922003/us-steel-merger-faces-post-election-decision-as-national-security-fears-stall-nippon-deal">bid after the election</a>.
Nippon Steel did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41422633/investors-lost-over-95-of-their-wealth-in-this-nvidia-linked-etf-while-jensen-huang-led-chip-gia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here&#8217;s More</a>
Why It Matters: The increased lobbying expenditure by Nippon Steel comes amid strong opposition to the acquisition from both sides of the political spectrum. This move reflects the company&#8217;s determination to push through the deal despite the challenges it faces in Washington.
Earlier in September, Democratic presidential candidate Kamala Harris <a href="https://www.benzinga.com/markets/equities/24/09/41045029/amid-nippon-us-steel-debacle-kamala-harris-stresses-importance-of-us-steel-production-even-if-it">emphasized the importance of maintaining domestic control over steel production</a>, even if it results in job losses. This stance aligns with the concerns expressed by U.S. lawmakers regarding the potential impact of the acquisition on American jobs and national security.
Meanwhile, former President&nbsp;Donald Trump&nbsp;has vowed to <a href="https://www.benzinga.com/markets/equities/24/09/40912183/amid-trump-and-harris-opposition-to-nippon-steels-14b-bid-for-us-steel-national-security-panel-t">block the deal if he is re-elected</a>.
Despite the opposition, Nippon Steel secured a favorable arbitration ruling in its <a href="https://www.benzinga.com/markets/equities/24/09/41038172/amid-resistance-from-harris-and-trump-nippon-steel-scores-favorable-arbitration-ruling-in-14-9b-">$15 billion acquisition of U.S. Steel</a>. The ruling, however, did not change the United Steelworkers&#8217; (USW) opposition to the deal.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

NISTF

NPSCY

As Trump, Kamala Harris, And Biden Unite Against Nippon Steel's $15B US Steel Acquisition, Japanese Steelmaker Spends $1.3M On Lobbying Efforts

Hundreds of engineers from&nbsp;Samsung Electronics Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;are reportedly applying for a limited number of job openings at rival firm&nbsp;SK Hynix, amidst ongoing chip industry challenges.
What Happened: Around 200 Samsung employees have&nbsp;expressed interest in three job vacancies at SK Hynix, <a href="https://www.thelec.net/news/articleView.html?idxno=5004">reported</a> Korean media outlet&nbsp;The Elec, citing sources familiar with the matter.
These positions, targeted at experienced etching engineers, have seen an influx of applications from Samsung&#8217;s skilled fab engineers, a development that has caught the industry&#8217;s attention due to its unusual nature.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41422278/nvidias-new-free-open-source-ai-model-reportedly-outperforms-openais-gpt-4o-anthropics-claude-3-5-so?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s New Free, Open Source AI Model Reportedly Outperforms OpenAI&#8217;s GPT-4o, Anthropic&#8217;s Claude 3.5 Sonnet</a>
According to the report SK Hynix&#8217;s Junior Talent program, previously open to engineers&nbsp;with less than three years&nbsp;of experience,&nbsp;has expanded its criteria to&nbsp;include engineers with up to&nbsp;five years of experience.
This change has reportedly drawn Samsung engineers with limited experience. Following the program&#8217;s expansion, the number of Samsung applicants has significantly increased.
Samsung did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Why It Matters: This unusual job shift comes at a time when Samsung is grappling with several challenges.
Earlier this month, Samsung cautioned that its third-quarter profit would fall short of market expectations and apologized for the underwhelming results.
The company has been trailing its competitors in providing advanced chips to Nvidia Corp. amid the rapidly growing AI sector.
In September it was reported that Samsung planned to cut its <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">global workforce by up to 30%</a> in certain divisions due to intense competition.
Amid these challenges, Samsung is <a href="https://www.benzinga.com/news/24/10/41374294/apple-rival-samsung-to-unfold-special-edition-of-its-latest-flagship-foldable-phone">expected to launch its &#8220;Special Edition&#8221;</a> Galaxy Z Fold 6 on Oct. 25.
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</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Samsung

SSNLF

Crisis At Samsung? Hundreds Of Engineers Reportedly Apply For 3 Jobs At Rival SK Hynix As World's Largest Smartphone Maker's Chip Troubles Mount

A coalition of civil rights organizations has accused social media platforms of spreading &#8220;digital voting disinformation.&#8221; The <a href="https://www.benzinga.com/news/24/09/40864530/mark-zuckerberg-says-he-is-done-apologizing-reveals-one-of-the-biggest-mistakes-of-his-career">group is urging companies</a> like Elon Musk&#8216;s X and Mark Zuckerberg&#8216;s Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to take action.
What Happened: Maya Wiley, the President and CEO of The Leadership Conference on Civil and Human Rights, has called upon social media companies to address the issue of &#8220;digital voting disinformation.&#8221;
The coalition, representing over 200 civil rights groups and other organizations, is demanding that these companies clearly distinguish between fact and fiction.
&#8220;There is still time for social media companies to step up and do what is right,&#8221; Wiley said in a statement on Monday.
She emphasized that social media companies should be more vigilant in separating fact from fiction and that they have the power to balance free speech rights with verification, links, labeling, and ensuring algorithms demote dangerous disinformation.
Wiley&#8217;s call to action comes in the wake of a surge in false information during the recent hurricanes.
The coalition is urging social media companies to establish and enforce civic and election policies, address AI-generated and manipulated media, resource election teams to protect against voting disinformation, limit rampant resharing of voting disinformation, and amplify authoritative and truthful information on voting and the election.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: The issue of misinformation on social media platforms has been a recurring concern. In August, Meta Platforms successfully defended against a lawsuit from an anti-vaccine group led by Robert F. Kennedy Jr., which accused the company of <a href="https://www.benzinga.com/news/24/08/40298698/mark-zuckerbergs-meta-platforms-triumphs-over-independent-presidential-candidate-robert-kennedy-jr-s">censorship over vaccine misinformation</a>.
Meanwhile, Musk faces scrutiny from the UK Parliament regarding how his platform, X, manages content moderation and the use of algorithms in <a href="https://www.benzinga.com/government/24/09/40781224/elon-musk-to-be-summoned-by-uk-parliament-over-role-of-social-media-platform-x">spreading harmful material</a>. 
Additionally, Zuckerberg recently expressed his frustration over taking responsibility for issues beyond his control, signaling a shift in <a href="https://www.benzinga.com/news/24/09/40864530/mark-zuckerberg-says-he-is-done-apologizing-reveals-one-of-the-biggest-mistakes-of-his-career">how Meta may handle future controversies</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41443012/mark-cuban-harris-campaign-declined-private-talk-with-elon-musk-over-public-disclosure-concerns-not?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban: Harris Campaign Declined Private Talk With Elon Musk Over Public Disclosure Concerns, Not Live Interview — &#8216;They Didn&#8217;t Trust Him Not To Disclose On X&#8217;</a></li>
</ul>
Image Via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Elon Musk And Mark Zuckerberg Urged To Tackle 'Voting Disinformation' As Civil Rights Groups Sound Alarm On Social Media Misinformation Ahead Of 2024 Election

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) founder Michael Saylor hinted at leaving all his assets for the betterment of &#8220;civilization&#8221; after death, in the absence of a family and children.
What Happened: During a recent interview with journalist Madison Reidy, the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) evangelist struck a sentimental note when questioned about his desired legacy.
&#8220;I'm a single guy with no children— when I'm gone, I'm gone. Just like Satoshi [Nakamoto] left a million Bitcoin to the universe, I'm leaving whatever I've got to the civilization,&#8221; Saylor responded, drawing an equivalence with the accomplishments of the <a href="https://www.benzinga.com/topic/satoshi-nakamoto">towering cryptocurrency figure</a>.
Like his other bullish takes on Bitcoin, here again, Saylor likened the top cryptocurrency to steel, which would form the basis of something &#8220;much grander&#8221; in the twenty-first century.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41443187/amid-kamala-harris-trump-polymarket-hype-cftc-chair-wary-of-turning-into-an-election-cop-w">Amid Kamala Harris-Trump Polymarket Hype, CFTC Chair Wary Of Turning Into An &#8216;Election Cop&#8217; — Wants Congress To Make Moves On Crypto And Election Betting</a>
Why It Matters: These remarks aligned with what Saylor said during the Bitcoin 2024 conference earlier this year.
"When I'm gone, my stock, my shares, my assets flow into a public charity whose mission is to support Bitcoin and the adoption of Bitcoin forever,&#8221; the Bitcoin billionaire said.
<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">Michael Saylor says, "When I'm gone, my stock, my shares, my assets flow into a public charity whose mission is to support <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and the adoption of BTC forever." <a href="https://t.co/5d9gG0CZRr">pic.twitter.com/5d9gG0CZRr</a>
&mdash; Vivek&#x26a1;&#xFE0F; (@Vivek4real_) <a href="https://twitter.com/Vivek4real_/status/1835454058141724776?ref_src=twsrc%5Etfw">September 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Saylor's audacious Bitcoin gambit has transformed his software development firm MicroStrategy into a proxy for the world's largest digital asset.
MicroStrategy&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40306998/since-embracing-bitcoin-4-years-ago-michael-saylors-microstrategy-has-outperformed-warren-" target="_blank" rel="noreferrer noopener">adopted Bitcoin as its primary reserve asset</a>&nbsp;in 2020, becoming the first publicly listed company to pursue this strategy, and hasn&#8217;t looked back since then. Today, it holds over $17 billion of its total capital in Bitcoin,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to bitcointreasuries.net.
Saylor has made it aptly clear on numerous forums that <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41396724/microstrategy-boss-michael-saylor-taunts-bitcoin-doubters-challenges-them-to-short-company">MicroStrategy would never sell the Bitcoins it purchases</a>, reflecting his belief in the upside potential of the cryptocurrency.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="The Bitcoin revolution &amp; risks with Michael Saylor (Part Two)" width="500" height="281" src="https://www.youtube.com/embed/DevkAbG1mGc?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>
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Price Action: At the time of writing, Bitcoin was exchanging hands at $67,542.99, down 1.52% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41434026/mark-cuban-dismisses-polymarket-election-odds-as-meaningless-most-of-the-money-is-foreign">Mark Cuban Dismisses Polymarket Election Odds As Meaningless: &#8216;Most Of The Money Is Foreign&#8217;</a></li>
</ul>
Photo courtesy: MicroStrategy

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

MSTR

Michael Saylor Wants To Give Away His Assets 'Just Like Satoshi Left A Million Bitcoin To The Universe:' 'I'm Leaving Whatever I've Got To The Civilization'

Marc Benioff, CEO of Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), took to social media on Tuesday to criticize Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) for rebranding its Copilot as &#8220;agents.&#8221;
What Happened: Benioff described this move as a sign of &#8220;panic mode&#8221; and called Copilot a failure due to Microsoft&#8217;s lack of data, metadata, and enterprise security models. He argued that these deficiencies lead to inaccuracies and data leaks, forcing customers to create their own large language models (LLMs).
Benioff likened Microsoft&#8217;s Copilot to the discontinued &#8220;Clippy&#8221; Microsoft Office assistant, suggesting that it fails to provide real corporate intelligence. In contrast, he praised Salesforce&#8217;s Agentforce, stating it is transforming businesses by autonomously managing sales, service, marketing, analytics, and commerce. He emphasized that Agentforce integrates data, LLMs, workflows, and security into a single Customer 360 platform, which he believes represents the true potential of AI.
See Also: <a href="https://www.benzinga.com/news/24/10/41420086/apple-intelligences-meh-moment-ahead-analyst-predicts-5-months-of-build-up-could-lead-to-a-thats-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Intelligence&#8217;s Meh Moment Ahead? Analyst Predicts 5 Months Of Build-Up Could Lead To A &#8216;That&#8217;s It?&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Microsoft rebranding Copilot as ‘agents'? That's panic mode. Let's be real—Copilot's a flop because Microsoft lacks the data, metadata, and enterprise security models to create real corporate intelligence. That is why Copilot is inaccurate, spills corporate data, and forces… <a href="https://t.co/eZpVwgoSH9">pic.twitter.com/eZpVwgoSH9</a>
&mdash; Marc Benioff (@Benioff) <a href="https://twitter.com/Benioff/status/1848439092293275988?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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Why It Matters: Benioff&#8217;s comments highlight the ongoing rivalry <a href="https://www.benzinga.com/top-stories/24/10/41428765/microsoft-salesforce-battle-heats-up-as-ai-agent-technology-takes-center-stage">between Salesforce and Microsoft</a> in the AI technology sector. Recently, Microsoft announced during its &#8220;AI Tour&#8221; event in London that businesses will soon be able to develop autonomous AI agents through its Copilot Studio platform. This technology aims to streamline enterprise functions by allowing organizations to create AI-driven agents tailored to their needs. 
Benioff&#8217;s critique of Microsoft&#8217;s Copilot is not new. Last month, he <a href="https://www.benzinga.com/news/24/09/40954193/salesforce-ceo-marc-benioff-slams-microsofts-copilot-compares-it-to-failed-clippy-assistant-like-wer">compared it to Clippy,</a> stating that customers have not derived value from it, likening it to selling &#8220;science projects to companies.&#8221; His remarks underscore the competitive landscape as both companies strive to dominate the AI agent technology market. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41373962/trump-campaigns-snapchat-absence-potentially-gives-harris-edge-among-young-voters?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Campaign&#8217;s Snapchat Absence Potentially Gives Harris Edge Among Young Voters</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

MSFT

'Copilot's A Flop Because Microsoft Lacks The Data,' Salesforce CEO Slams Rebranding Of AI Tool To 'Agents:' 'That's Panic Mode'

The United States is reportedly on the verge of implementing new restrictions on American investments in China&#8217;s artificial intelligence sector. This development comes as part of an effort to curb the potential enhancement of China&#8217;s military capabilities through U.S. expertise.
What Happened: The impending regulations are under final review and are expected to be released soon. These rules stem from an executive order issued by President Joe Biden in August. The Office of Management and Budget is currently reviewing the rules, a step that typically precedes their release within a week, Reuters reported on Monday.
Laura Black, a former Treasury official, highlighted the strategic timing of these regulations, which come just ahead of the Nov. 5 U.S. presidential election. The Treasury Department had previously issued draft rules in June, inviting public feedback and outlining specific exceptions.
The proposed regulations focus on investments in AI, semiconductors, microelectronics, and quantum computing. They require U.S. investors to notify the Treasury Department about certain transactions and specify prohibited AI system uses and computing power thresholds.e
See Also: <a href="https://www.benzinga.com/news/24/10/41415320/us-probe-into-potential-sanctions-breach-by-tsmc-threatens-apples-iphone-chips-production?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Probe Into Potential Sanctions Breach By TSMC Threatens Apple&#8217;s iPhone Chips Production</a>
Black anticipates that the final rules will offer clarity on AI coverage and investment thresholds. Exceptions may include publicly traded securities, specific limited partnerships, and syndicated debt financings.
The Treasury Department has yet to respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> queries.
Why It Matters: The U.S. restrictions on AI investments in China come amid a backdrop of <a href="https://www.benzinga.com/markets/asia/24/08/40553145/despite-us-limits-on-chinas-access-to-nvidia-chips-tech-titans-like-alibaba-and-tencent-ramp-up-ai-i">increased Chinese investment</a> in AI infrastructure. Despite U.S. sanctions, Chinese tech giants like Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Tencent, and Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) have significantly ramped up their AI investments. In the first half of 2024, these companies invested 50 billion Chinese yuan ($7 billion), a substantial increase from the previous year, focusing on processors and infrastructure for AI training.
Moreover, Chinese AI firms, including startups and giants like <a href="https://www.benzinga.com/news/24/10/41420451/openais-chinese-cousins-alibaba-and-bytedance-are-slashing-ai-costs-and-defying-us-chip-sanctions-be">Alibaba and ByteDance</a>, are making strides in reducing AI costs. They are optimizing hardware and focusing on smaller data sets to defy U.S. chip sanctions.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/asia/24/10/41399024/billionaire-investor-ray-dalio-urges-xi-jinpings-china-to-implement-this-to-prevent-debt-crisis-they?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Billionaire Investor Ray Dalio Urges Xi Jinping&#8217;s China To Implement This To Prevent Debt Crisis: &#8216;They Have The Willingness To Do That&#8217;</a></li>
</ul>
Photo Courtesy: Dilok Klaisataporn On Shutterstock.com
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Government

Regulations

Global

BABA

BIDU

US Set To Finalize AI Investment Restrictions In China: Report

Ford Motor Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) model year 2025 Mustang Mach-E will start at $36,495, much lower than the starting price of the model year 2024 version of the SUV, the company said on Monday.
What Happened: &#8220;For the 2025 Ford Mustang Mach-E, we&#8217;ve made some big updates based on customer requests: added a heatpump, relocated the shifter for more console space, an optional sport appearance package, plus #BlueCruise 1.5 with automatic lane changes,&#8221; Ford CEO Jim Farley said on social media platform X.
The 2025 Mustang Mach-E will go on sale in early 2025 and will be available in three new color options including Molten Magenta Metallic Tinted Clearcoat, Velocity Blue Metallic, and Desert Sand.&nbsp;The company has also introduced three new wheel designs. 
The starting price on the vehicle, Ford said, will be $36,495, 8.8% lower than the starting price of model year 2024 Mach-E.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Customer feedback is so important. For the 2025 <a href="https://twitter.com/FordMustang?ref_src=twsrc%5Etfw">@FordMustang</a> Mach-E, we&#39;ve made some big updates based on customer requests: added a heatpump, relocated the shifter for more console space, an optional sport appearance package, plus <a href="https://twitter.com/hashtag/BlueCruise?src=hash&amp;ref_src=twsrc%5Etfw">#BlueCruise</a> 1.5 with automatic lane changes. All… <a href="https://t.co/jAtM3TP7HY">pic.twitter.com/jAtM3TP7HY</a>
&mdash; Jim Farley (@jimfarley98) <a href="https://twitter.com/jimfarley98/status/1848435467051483509?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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Why It Matters: The Mach-E was Ford&#8217;s best-selling EV in the U.S. in the last quarter. The company sold 13,392 Mach-E SUVs in the three months through the end of September, accounting for <a href="https://www.benzinga.com/news/24/10/41179283/fords-us-ev-sales-gather-pace-in-q3-even-as-its-best-seller-mustang-mach-e-suv-slows-down">57% of its overall EV sales in the period</a>. In fact, it was the second best-selling electric SUV in the third quarter in the U.S., after Tesla Inc.&#8217;s Model Y.
The Tesla Model Y is the EV giant&#8217;s best-selling offering. It starts at $44,990 in the U.S. for its cheapest variant. 
Ford&#8217;s EV segment called Model E, however, continues to accumulate losses. For the whole year, Ford expects to incur a <a href="https://www.benzinga.com/news/24/08/40525705/fords-e-transit-van-could-be-its-golden-goose-until-new-evs-start-rolling-out-in-2026">loss of $5 billion to $5.5 billion within the EV segment.</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:
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<li><a href="https://www.benzinga.com/news/24/10/41422292/spacex-ceo-elon-musk-slams-overregulation-in-space-travel-as-he-campaigns-for-trump-if-starship-did" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Slams Overregulation In Space Travel As He Campaigns For Trump: ‘If Starship Did Hit A Whale, Honestly, It's Like The Whale Had It Coming'</a></li>
</ul>
Photo courtesy: Ford

Ford Updates Its Best-Selling Mach-E EV With Heat Pump, Blue Cruise 1.5 For 2025 Model Year: Priced Lower Than 2024 Version, Tesla Model Y

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled mostly lower on Monday, with the Dow Jones index falling more than 300 points during the session.
All three major indices recorded gains for the sixth straight week, with the Dow and S&amp;P 500 gaining 0.96% and 0.85%, respectively, last week.
As far as the earnings season is concerned, around 14% of S&amp;P 500 companies have released quarterly results so far, with more than 7 in 10 of those exceeding market estimates.
Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) announced that on October 11, it modified its card processing agreement to extend the deadline for its 2025 notes from October 21 to December 23 and the early maturity date from December 31 to March 3.
Most sectors on the S&amp;P 500 closed on a negative note, with real estate, health care, and financials stocks recording the biggest losses on Monday. However, tech stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 344 points to 42,931.60 on Monday. The S&amp;P 500 fell 0.18% to 5,853.98, while the Nasdaq Composite rose 0.27% to close at 18,540.01 during Monday's session.
Investors are awaiting earnings results from General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 73, the index moved to the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 75.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41429862/this-analyst-with-85-accuracy-rate-sees-around-11-upside-in-netflix-here-are-5-stock-picks-for-last">This Analyst With 85% Accuracy Rate Sees Around 11% Upside In Netflix &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>
Photo courtesy: Shutterstock

Trading Ideas

SAVE

Dow Dips Over 300 Points As Investors Optimism Declines: Fear Index Moves To 'Greed' Zone

Former President Donald Trump's unconventional campaign stop at a McDonald's drive-thru gave the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) community an opportunity to flex their meme muscle, as they used clever wordplays to call attention to the ecosystem's cryptocurrency tokens.
What happened: The Republican presidential nominee <a href="https://www.benzinga.com/news/24/10/41419892/trump-turns-up-to-serve-fries-at-mcdonalds-i-could-do-this-all-day-i-wouldnt-mind-this-job">was seen serving customers and operating the fry cooker</a> at the fast food joint in an effort to court working-class voters.
While the gimmick, or whatever one may call it, was for political reasons, the passionate Shiba Inu community used it to market meme coins associated with the project.
One such member, with the pseudonym Maximous Shibarium on X, said, "I prefer my meat with BONE," referring to BoneShibaSwap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONE</a>).
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hey <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> , do you know if <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> was allowed to serve ribs, McRib maybe? I prefer my meat with <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONE</a> &#x1f356;<a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw">#Shibarium</a> users will need some <a href="https://twitter.com/hashtag/BONE?src=hash&amp;ref_src=twsrc%5Etfw">#BONE</a>, whole <a href="https://twitter.com/hashtag/ShibArmy?src=hash&amp;ref_src=twsrc%5Etfw">#ShibArmy</a> will!<a href="https://twitter.com/ShibariumNet?ref_src=twsrc%5Etfw">@ShibariumNet</a> <a href="https://twitter.com/Shibtoken?ref_src=twsrc%5Etfw">@Shibtoken</a> <a href="https://twitter.com/ShibaSwapDEX?ref_src=twsrc%5Etfw">@ShibaSwapDEX</a> <a href="https://twitter.com/TheShibmagazine?ref_src=twsrc%5Etfw">@TheShibmagazine</a> <a href="https://twitter.com/LucieSHIB?ref_src=twsrc%5Etfw">@LucieSHIB</a> <a href="https://twitter.com/ShytoshiKusama?ref_src=twsrc%5Etfw">@ShytoshiKusama</a> <a href="https://twitter.com/kaaldhairya?ref_src=twsrc%5Etfw">@kaaldhairya</a> <a href="https://t.co/GUkzmW8Fof">https://t.co/GUkzmW8Fof</a>
&mdash; Maximous &#x1f415;&#x1f356; Shibarium (@MaximousDarwin) <a href="https://twitter.com/MaximousDarwin/status/1848445466486444268?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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Another SHIB advocate, operating under dhel&#x2A;SHIB l SHIB.io, wrote, "#TreatYourself to a McSHIB," in what was an intelligent wordplay around McDonald's famous pork sandwich and the Treat (TREAT) token.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/TreatYourself?src=hash&amp;ref_src=twsrc%5Etfw">#TreatYourself</a> to a McSHIB: &#x1f354;Your wallet deserves the full combo—$SHIB, <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONE</a>, and <a href="https://twitter.com/search?q=%24LEASH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LEASH</a> for maximum growth!&#x1f415;&#x1f4a8;&#x1f525;&#x1f680;<a href="https://twitter.com/hashtag/ShibArmyStrong?src=hash&amp;ref_src=twsrc%5Etfw">#ShibArmyStrong</a> <a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw">#Shibarium</a> <a href="https://t.co/z5hr1iBkJR">pic.twitter.com/z5hr1iBkJR</a>
&mdash; dhel&#x2A;SHIB l SHIB.io &#x1f415;&#x1f4a8; (@dhelSHIB) <a href="https://twitter.com/dhelSHIB/status/1848435969139093644?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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Even Kaal Dhairya, a top developer in the ecosystem, couldn't restrict participating in the trend.&nbsp;
"Imagine President Trump at McDonald's: Here's your order, and don't worry, we're making America great again—one Shib at a time!" Dhairya wrote in an X post, evoking excitement among the Shiba Inu crowd, including marketing lead Lucie.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Imagine President Trump at McDonald's: Here's your order, and don't worry, we're making America great again—one Shib at a time! &#x1f415;&#x1f354; <a href="https://twitter.com/hashtag/Trump2024?src=hash&amp;ref_src=twsrc%5Etfw">#Trump2024</a> <a href="https://twitter.com/hashtag/ShibArmySupports?src=hash&amp;ref_src=twsrc%5Etfw">#ShibArmySupports</a> <a href="https://twitter.com/hashtag/DriveThruDonald?src=hash&amp;ref_src=twsrc%5Etfw">#DriveThruDonald</a> <a href="https://t.co/l6Aq30v58t">https://t.co/l6Aq30v58t</a>
&mdash; Kaal (@kaaldhairya) <a href="https://twitter.com/kaaldhairya/status/1848568420742099260?ref_src=twsrc%5Etfw">October 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41443187/amid-kamala-harris-trump-polymarket-hype-cftc-chair-wary-of-turning-into-an-election-cop-w">Amid Kamala Harris-Trump Polymarket Hype, CFTC Chair Wary Of Turning Into An &#8216;Election Cop&#8217; — Wants Congress To Make Moves On Crypto And Election Betting</a>
Why It Matters: The Shiba Inu team <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41324354/shiba-inu-announces-new-partnership-to-build-the-financial-layer-of-upcoming-shib-state-ke">announced a new partnership</a> with financial solutions company Mass last week to build the finance layer of the ambitious ‘Shiba State'.
Apart from the more popular meme coin narrative, Shiba Inu has made attempts to become a serious blockchain-based project with a complex financial system.&nbsp;
The team has worked on Shibarium, a Layer-2 blockchain, decentralized exchange ShibaSwap, and Shib The Metaverse in recent years in a bid to shed the narrow ‘meme coin' tag.
Price Action: At the time of writing, Shiba Inu was exchanging hands at $0.00001856, down 3.41% 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>. Over the month, the second-largest meme token gained 26%.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41442996/brad-garlinghouse-defends-ripple-co-founders-donation-to-kamala-harris-while-top-crypto-an">Brad Garlinghouse Defends Ripple Co-Founder&#8217;s Donation To Kamala Harris While Top Crypto Analyst Throws XRP &#8216;Securities&#8217; Jibe</a></li>
</ul>

$BONE

$SHIB

Trump's McDonald's Visit Has Shiba Inu Community Flaunting Its Meme Game —  Kaal Dhairya Chimes In With 'One Shib At A Time' Reference

Elon Musk, Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) are facing a lawsuit filed by Alcon Entertainment, alleging copyright infringement <a href="https://www.benzinga.com/news/24/10/41350962/tesla-key-exec-says-we-robot-event-had-1-300-perfectly-safe-autonomous-trips-driving-over-2-000-gues">during Tesla&#8217;s robotaxi event</a>.
What Happened: The Los Angeles-based production company, known for &#8220;Blade Runner 2049,&#8221; has accused them of using an AI image generator to create promotional art for Tesla&#8217;s &#8220;We, Robot&#8221; event, <a href="https://www.theverge.com/2024/10/21/24276092/alcon-entertainment-blade-runner-2049-tesla-musk-warner-bros-discovery-copyright">reported</a> The Verge.
The artwork allegedly bears a striking resemblance to&nbsp;stills from the 2017 sci-fi&nbsp;film, Blade Runner 2049, the copyright of which is owned by Alcon.
The lawsuit claims that Tesla and Warner Bros. sought permission&nbsp;to use imagery from the&nbsp;film just hours before the event, which was held&nbsp;on the Warner Bros. lot&nbsp;in California.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41420451/openais-chinese-cousins-alibaba-and-bytedance-are-slashing-ai-costs-and-defying-us-chip-sanctions-be?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s Chinese Cousins Alibaba, And ByteDance Are Slashing AI Costs And Defying US Chip Sanctions: Beijing&#8217;s Strength Is To &#8216;Build Fast, Build Reliably And Build Cheap&#8217;</a>
However, Alcon denied the request due to concerns about being associated with Musk and Tesla, citing Musk&#8217;s <a href="https://www.benzinga.com/news/24/02/37301290/elon-musk-is-still-attempting-to-defend-hateful-speech-amid-xs-growing-pains-and-public-backlash-rep">controversial behavior</a>, which they viewed as detrimental to their brand.
&#8220;Any prudent brand considering any Tesla partnership has to take Musk's massively amplified, highly politicized, capricious and arbitrary behavior, which sometimes veers into hate speech, into account,&#8221; the suit states. &#8220;Alcon did not want BR2049 to be affiliated with Musk, Tesla, or any Musk company, for all of these reasons.&#8221;
Despite Alcon&#8217;s refusal, Tesla allegedly used&nbsp;shots from Blade Runner 2049&nbsp;to create a stylized image displayed prominently during the event. Alcon also alleged that it was not informed about any agreements between Tesla and Warner Bros. that were necessary before the event.
The production company believes that these agreements&nbsp;included a promotional element that connected Tesla&#8217;s&nbsp;Cybercab with one or more&nbsp;films from the studio&#8217;s catalog.
The lawsuit does not specify the amount of damages sought, but it asserts that Musk, Tesla, and Warner Bros. were aware of&nbsp;the unauthorized nature of the&nbsp;image and its improper use.
Tesla and WBD did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Why It Matters: At the Tesla &#8220;We, Robot&#8221; event earlier this month, the EV giant <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">unveiled&nbsp;its two-seater robotaxi</a>, the Cybercab. The event also featured the company&#8217;s humanoid robots.
Following the highly anticipated Robotaxi Day, analysts suggest that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">Tesla&#8217;s stock may continue to decline</a> due to the absence of clear business plans for robotaxis and the lack of updates on a more affordable production vehicle.
The Optimus robots came under fire recently when it was disclosed that engineers were <a href="https://www.benzinga.com/news/24/10/41354482/tesla-engineer-admits-optimus-robots-were-human-assisted-to-some-extent-at-robotaxi-unveiling-event">operating them remotely</a> during a demonstration. The event featured the robots displaying their skills by dancing and serving drinks, leading some critics to describe the presentation as deceptive.
Despite criticism and skepticism surrounding Tesla&#8217;s Optimus robots, Nvidia Corp. executive Rev Lebaredian <a href="https://www.benzinga.com/news/24/10/41401752/nvidia-executive-defends-teslas-optimus-robots-amid-criticism-thats-a-huge-advancement-not-something">defended the technology</a>, underscoring the complexity and technological prowess involved in controlling these robots.
Image via Shutterstock
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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.

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TSLA

Elon Musk Faces Legal Challenge Over AI-Generated 'Blade Runner 2049' Imagery Use At 'We Robot' Event: Alcon Cites 'Highly Politicized, Capricious And Arbitrary Behavior'

3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/MMM/earnings">opening bell on Tuesday, Oct. 22</a>.
Analysts expect the Saint Paul, Minnesota-based company to report quarterly earnings at $1.9 per share, down from $2.44 per share in the year-ago period. 3M projects to report revenue of $6.06 billion for the quarter, compared to $7.32 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Aug. 1, 3M named Anurag Maheshwari as Executive Vice President and CFO.
3M shares fell 0.2% to close at $134.84 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/MMM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Mizuho analyst Brett Linzey maintained a Neutral rating and raised the price target from $105 to $146 on Oct. 17. This analyst has an accuracy rate of 74%.</li>
<li>Barclays analyst Julian Mitchell maintained an Overweight rating and raised the price target from $145 to $160 on Oct. 2. This analyst has an accuracy rate of 77%.</li>
<li>Deutsche Bank analyst Nicole Deblase upgraded the stock from Hold to Buy and boosted the price target from $110 to $150 on July 31. This analyst has an accuracy rate of 81%.</li>
<li>Argus Research analyst John Eade upgraded the stock from Hold to Buy with a price target of $145 on July 30. This analyst has an accuracy rate of 77%.</li>
<li>Citigroup analyst Andrew Kaplowitz maintained a Neutral rating and raised the price target from $100 to $133 on July 29. This analyst has an accuracy rate of 85%.</li>
</ul>
Considering buying MMM stock? Here&#8217;s what analysts think:
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</ul>

3M Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) recent unveiling of its robotaxi has left investors unimpressed, leading to concerns about the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41436349/tesla-q3-earnings-preview-analyst-says-1-8-million-unit-estimate-hittable-for-2024-">company&#8217;s future growth prospects</a>.
What Happened: The lack of clarity surrounding the robotaxi technology has shifted the focus back to Tesla&#8217;s core operations, according to Jefferies, <a href="https://www.investing.com/news/stock-market-news/tesla-looks-like-an-imbalanced-vc-portfolio-jefferies-says-3674229?ref=biztoc.com">reported</a> Investing.com on Monday. This has raised concerns about the company&#8217;s governance and funding prospects in the medium term.
Jefferies, while raising Tesla&#8217;s price target to $195 from $165, has maintained a Neutral rating. The firm predicts an increase in cash flow over the next two years but warns of &#8220;subdued growth&#8221; for at least two years due to the aging of Tesla&#8217;s core models and the company&#8217;s struggle to update its vehicle catalog.
The brokerage expressed disappointment with Tesla&#8217;s Cybercab reveal, citing a lack of &#8220;tangible progress&#8221; on the technology and minimal details on income generation plans. This has refocused attention on Tesla&#8217;s core auto business, which is grappling with slowing deliveries and is expected to record its first annual drop in deliveries in 2024.
See Also: <a href="https://www.benzinga.com/insights/options/24/10/41411253/palantir-technologies-unusual-options-activity?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity</a>
Jefferies analysts described Tesla as an &#8220;imbalanced VC portfolio solely funded by an auto business under pressure.&#8221; The company is set to report its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41436349/tesla-q3-earnings-preview-analyst-says-1-8-million-unit-estimate-hittable-for-2024-">third-quarter earnings on Wednesday</a>. Tesla&#8217;s stock took a hit earlier in October following the underwhelming robotaxi reveal and missed third-quarter delivery expectations.
Why It Matters: Tesla&#8217;s recent challenges are part of a larger narrative. The company has been offering discounts of up to $4,000 on select Model Y and Model 3 vehicles in the U.S. in a bid to avoid its <a href="https://www.benzinga.com/news/24/10/41443856/tesla-offers-discounts-of-up-to-4k-on-select-model-3-y-vehicles-as-it-looks-to-avert-1st-ever-declin">first-ever decline in annual deliveries</a>. 
The company&#8217;s third-quarter earnings, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41436349/tesla-q3-earnings-preview-analyst-says-1-8-million-unit-estimate-hittable-for-2024-">which are due to be reported</a>, could provide more insight into demand and the strategy for the upcoming Cybercab.
Some analysts have also noted a shift in focus back to Tesla&#8217;s core business fundamentals after Robotaxi Day, suggesting that the company may be <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41429320/while-elon-musk-likely-to-face-questions-about-robotaxi-during-earnings-call-some-a">redirecting its attention</a> away from the underwhelming robotaxi presentation.
Price Action: Tesla&#8217;s stock closed at $218.85 on Monday, down 0.84% for the day. In after-hours trading, the stock slipped an additional 0.16%. Year to date, Tesla&#8217;s stock has fallen 11.90%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Photo courtesy: Tesla
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Tesla Robotaxi Reveal Falls Flat Amid Lack Of Clarity, Shifting Focus Back On Elon Musk-Led EV Giant's 'Under Pressure' Auto Business: Analysts Warn Of 'Subdued Growth' For 2 Years

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