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Leonardo DRS

Leonardo DRS Inc is a provider of defense products and technologies that are used across land, air, sea, space and cyber domains. The company is in the design, development and manufacture of Advanced sensing, network computing, force protection and electric power and propulsion technologies and solutions. The company has two segments: Advanced Sensing and Computing, which generates the majority of revenue and Integrated Mission Systems segment. The Advanced Sensing and Computing segment is engaged in designs, develops and manufactures sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution by the customers.

Leonardo DRS Inc

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Aspen intends to use the net proceeds from the offering for working capital, capital expenditures and general corporate purposes.

News

ASPN

Reported Earlier, Aspen Aerogels Prices $85M Public Offering Of 4.25M Common Shares At $20/Share

Grupo Aeroportuario del (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAC#NYSE">PAC</a>) reported quarterly earnings of $3.13 per share which beat the analyst consensus estimate of $2.11 by 48.34 percent. This is a 3.3 percent increase over earnings of $3.03 per share from the same period last year. The company reported quarterly sales of $435.100 million which beat the analyst consensus estimate of $377.324 million by 15.31 percent. This is a 0.42 percent increase over sales of $433.301 million the same period last year.

Earnings

Earnings Beats

Grupo Aeroportuario del Q3 2024 GAAP EPADS $3.13 Beats $2.11 Estimate, Sales $435.100M Beat $377.324M Estimate

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Bank of Japan Core Consumer Price Index (YoY) 1.7% Vs. 1.8% Prior

In a bid to restructure its operations, Jellysmack, a SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>)-backed creator-economy startup, is laying off employees and reducing its creator program.
What Happened: Jellysmack is undergoing a reorganization and will be downsizing its workforce, <a href="https://www.businessinsider.in/tech/news/jellysmack-is-laying-off-staff-as-it-scales-back-its-creator-program/articleshow/114434680.cms">reported</a> Business Insider. The company has confirmed that 22 U.S.-based employees will be affected, with French employees also facing potential layoffs in the coming months.
The company is shifting its focus to its content business, which includes YouTube channels like Gamology, House of Bounce, Beauty Studio, and Oh My Goal. It is scaling back a program that helped creators earn money by posting content on Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)-owned apps like Facebook.
&#8220;Jellysmack is making organizational adjustments to better align resources with key areas of growth,&#8221; a company representative said according to the report. &#8220;Jellysmack&#8217;s goal is to prioritize and invest in our business units that hold IP, given their continued success on YouTube.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420488/shiba-inu-ready-for-a-lift-off-to-the-moon-popular-analyst-predicts-50-surge-for-memecoin-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Ready For A Lift-Off To The Moon? Popular Analyst Predicts 50% Surge For Memecoin As Burn Rate Spikes 389%</a>
This move comes after Jellysmack faced challenges in its business, including a decrease in monetization across platforms. The company, which initially focused on creating its own YouTube content, shifted to working with other creators to edit and recirculate their content across platforms like Facebook and Snap Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat to capture additional ad revenue.
Why It Matters: Jellysmack&#8217;s decision to restructure its operations and focus on its content business comes at a time when the creator economy is undergoing significant changes. Meta Platforms Inc. has also been <a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">restructuring its operations and laying off employees</a> across Instagram, WhatsApp, and Reality Labs. This is part of a broader trend of tech companies reevaluating their strategies and operations, which has been ongoing for some time.
This was part of a strategic reshuffle aimed at boosting efficiency. The company has also been <a href="https://www.benzinga.com/news/24/03/37501959/meta-employees-fear-layoffs-as-companys-year-of-efficiency-becomes-permanent-report">undergoing a prolonged process of evaluating individual employee performance for 2023</a>, with the reviews now concluding. This has left many employees anxious about their job security.
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/10/41348553/jay-z-praised-by-warren-buffett-as-the-guy-to-learn-from-once-said-he-wasnt-taught-emotiona?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jay-Z, Praised by Warren Buffett as &#8216;The Guy to Learn From,&#8217; Once Said He Wasn&#8217;t Taught Emotional Intelligence, But How To Survive — The Rap Legend&#8217;s Growth Has Made Him Not Just A Better Person, But Also Worth $2.5B Today</a></li>
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Image Via Unsplash 
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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SoftBank-Backed Jellysmack Restructures, Lays Off Employees, And Scales Back Creator Program On Meta Platforms

Outlook
Logitech raised its full-year&nbsp;outlook&nbsp;for Fiscal Year 2025:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
Previous FY25&nbsp;outlook
</td>
<td colspan="1" rowspan="1">
New FY25&nbsp;outlook
</td>
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<tr>
<td colspan="1" rowspan="1">
Sales
</td>
<td colspan="1" rowspan="1">
$4.34&nbsp;-&nbsp;$4.43 billion
</td>
<td colspan="1" rowspan="1">
$4.39&nbsp;-&nbsp;$4.47 billion
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Sales growth (in US dollars, year over year)
</td>
<td colspan="1" rowspan="1">
1%&nbsp;-&nbsp;3%
</td>
<td colspan="1" rowspan="1">
2%&nbsp;-&nbsp;4%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP operating income
</td>
<td colspan="1" rowspan="1">
$700&nbsp;-&nbsp;$730 million
</td>
<td colspan="1" rowspan="1">
$720&nbsp;-&nbsp;$750 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP op. inc. growth (year over year)
</td>
<td colspan="1" rowspan="1">
0%&nbsp;-&nbsp;4%
</td>
<td colspan="1" rowspan="1">
3%&nbsp;-&nbsp;7%
</td>
</tr>
</tbody>
</table>

Guidance

LOGI

Logitech Raises 2025 Outlook, Now Expects Sales Of $4.39B-$4.47B (Prior $4.34B-$4.43B) Vs. $4.512B Consensus, And Non-GAAP Operating Income Of $720M-$750M (Prior $700M-$730M)

Logitech International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) reported quarterly earnings of $1.20 per share which beat the analyst consensus estimate of $0.99 by 21.21 percent. This is a 10.09 percent increase over earnings of $1.09 per share from the same period last year. The company reported quarterly sales of $1.116 billion which beat the analyst consensus estimate of $1.110 billion by 0.55 percent. This is a 5.58 percent increase over sales of $1.057 billion the same period last year.

Logitech International Q2 2025 Adj. EPS $1.20 Beats $0.99 Estimate, Sales $1.116B Beat $1.110B Estimate

In a recent study, researchers have suggested that Arkansas could potentially hold a significant amount of lithium, a crucial component for electric car batteries and other high-tech products.
What Happened: The researchers, in a study published in the journal Science Advances, have estimated that there could be between 5.1 to 19 million tons of lithium in the Smackover Formation brines in southern Arkansas, <a href="https://thehill.com/policy/energy-environment/4945872-arkansas-19-million-tons-lithium-battery-power/">reported</a> The Hill. This amount could potentially make up 35 to 136% of the current U.S. lithium resource estimate.
The researchers used a machine-learning model trained on published and newly collected brine lithium concentration data to create a map of predicted lithium concentrations in Smackover Formation brines across southern Arkansas.
Lithium ETFs offer a way to diversify your investments across multiple companies poised to benefit from the growing demand for lithium. 
Some of the top lithium ETFs to consider include the Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>), Amplify Lithium and Battery Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATT#NYSE">BATT</a>), First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQGM:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQGM">QCLN</a>), iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), and the VanEck Vectors Rare Earth/Strategic Metals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REMX#NYSE">REMX</a>).
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: Automakers and tech companies are scrambling to <a href="https://www.benzinga.com/markets/equities/24/10/41360023/lithium-americas-shares-surge-as-gm-commits-625m-to-thacker-pass-project">secure their lithium supplies</a>, with some even investing in mining projects, such as General Motors&#8216; joint venture with Lithium Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) for the Thacker Pass lithium project in Nevada.
Meanwhile, in Europe, the Serbian parliament&#8217;s decision <a href="https://www.benzinga.com/government/24/10/41289306/serbian-parliament-doesnt-pass-lithium-ban-keeps-rio-tintos-major-project-alive">not to ban lithium exploration and exploitation</a> has kept Rio Tinto&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) major Jadar project alive. 
In January, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed its <a href="https://www.benzinga.com/top-stories/24/02/37188987/interesting-elon-musk-captivated-by-microsofts-70-lithium-reduced-battery-innovation">collaboration with a U.S. national laboratory</a> to create an innovative battery material that decreases lithium consumption by 70%, attracting interest from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk.
Moreover, in July 2022 Musk tweeted that &#8220;lithium batteries are the new oil,&#8221; responding to Craft Ventures co-founder David Sacks&#8216; comments about the importance of <a href="https://www.benzinga.com/trading-ideas/movers/22/07/28056987/elon-musk-says-this-battery-metal-is-the-new-oil-but-should-the-vehicle-connoisseur-take-his">energy independence amid oil challenges</a> from Russia&#8217;s invasion of Ukraine. 
Read Next: 
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</ul>
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>

Sector ETFs

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iShares S&P Global Clean Energy Index Fund

ICLN

MSFT

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

Market Vectors Rare Earth/Strategic Metals Etf

REMX

TSLA

Arkansas May Be Sitting On 19M Tons Of Lithium Amid Rising Demand For EV Batteries: How To Invest In What Elon Musk Calls 'The New Oil'

Feline-themed cryptocurrency, cat in a dogs world (MEW) defied the broader slump in meme coin space on Monday to become one of the market&#8217;s top gainers.
What Happened: MEW, the fourth-largest meme coin on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) by market capitalization, spiked over 6% in the last 24 hours, bucking the trend of declines in more established tokens. As of this writing, it was the third-best-performing cryptocurrency in the 24-hour period.
The meme currency&#8217;s trading volume soared a massive 353% in the last 24 hours, indicating strong buying pressure. With the latest rally, MEW&#8217;s monthly gains elevated to over 88%, while year-to-date it was up 414%.
The stated aim of the project was to challenge the dominance of dog-themed meme coins and herald the &#8220;dawn of a new era&#8221; of cat-inspired tokens.
Interestingly, another cat-themed memecoin,&nbsp;Popcat&nbsp;(SOL), is currently the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40357274/cat-themed-popcat-has-popped-whopping-6813-this-year-feline-themed-coins-are-challenging-s" target="_blank" rel="noreferrer noopener">top performer</a>&nbsp;for 2024, soaring an impressive 16492% year-to-date.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41441309/henry-ford-wasnt-satoshi-nakamoto-but-auto-entrepreneur-may-have-predicted-bitcoin">Henry Ford Wasn&#8217;t Satoshi Nakamoto, But Auto Entrepreneur May Have Predicted Bitcoin</a>
The rally was in sharp contrast to the broader drop across the meme coin space, with the total market cap contracting nearly 2% over the last 24 hours. Blue-chip currencies like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) fell 0.72% and 3.13%, respectively.
The cryptocurrency market<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41442655/bitcoin-ethereum-dogecoin-plunge-after-hitting-multi-month-highs-dont-be-scared-to-buy-btc"> pulled back Monday after hitting multi-month highs a day earlier</a>. Heavyweights Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) retreated 2.22% and 3.28%, respectively, over the last 24 hours.
Read Next: 
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<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>

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

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$DOGE

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$SOL

Cat In A Dog's World Brushes Off Market Pullback With 6% Spike — Dogecoin, Shiba Inu YTD Performance Pales Against Feline-Themed Coin's 415% Gain

Commodity Futures Trading Commission chair, Rostin Behnam, has urged Congress to address the regulation of cryptocurrency and election betting legislation.
What Happened: Behnam made these remarks during the Securities Industry and Financial Markets Association&#8217;s annual meeting Monday, as <a href="https://www.theblock.co/post/322365/cftc-chair-behnam-presses-congress-to-act-on-crypto-and-election-betting-legislation?utm_source=twitter&amp;utm_medium=social">reported </a>by The Block. He stated that the CFTC views event contracts on elections as illegal, and such offerings put the agency in a tough spot as an &#8220;election cop.&#8221;
&#8220;This is a classic area where I think Congress should actually weigh in,&#8221; Behnam said.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41441309/henry-ford-wasnt-satoshi-nakamoto-but-auto-entrepreneur-may-have-predicted-bitcoin">Henry Ford Wasn&#8217;t Satoshi Nakamoto, But Auto Entrepreneur May Have Predicted Bitcoin</a>
Why It Matters: Betting platforms like Polymarket and Kalshi have gained significant traction in the ongoing election cycle, with billions gambled on who among Donald Trump and Kamala Harris would become president.
Kalshi <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41158370/wanna-put-your-money-on-trump-or-harris-crypto-based-polymarket-gets-competition-after-kal">resumed taking bets</a> on the outcome of congressional elections after an appeals court lifted a ban on the platform's operations by the CFTC earlier this month. 
On the other hand, Polymarket has remained offshore since the CFTC penalized it $1.4 million and issued a cease-and-desist order for regulatory <a href="https://www.cftc.gov/PressRoom/PressReleases/8478-22">violations </a>in January 2022. As such, U.S. residents can&#8217;t use the platform.
Polymarket, which is built atop Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41363075/26m-bet-on-trumps-election-victory-fuels-speculation-of-coordinated-activity-on-polymarket">has also garnered publicity</a> over concerns of market manipulation and attempts to influence public opinion.
Billionaire investor Mark Cuban stated that <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">he does not believe</a> Polymarket's odds are indicative of anything meaningful, pointing out the influence of foreign money and questionable legality for U.S. participants.
That said, &nbsp;the prediction platform&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40997135/peter-thiel-backed-crypto-based-betting-platform-polymarket-might-be-contemplating-a-token">has received funding</a> from U.S.-based tech tycoons such as Peter Thiel.
Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41437657/ripple-co-founder-donates-10-million-to-kamala-harris-campaign">Ripple Co-Founder Donates $10 Million To Kamala Harris&#8217; Campaign</a></li>
</ul>

$MATIC

Amid Kamala Harris-Trump Polymarket Hype, CFTC Chair Wary Of Turning Into An 'Election Cop' — Wants Congress To Make Moves On Crypto And Election Betting

Billionaire entrepreneur&nbsp;Mark Cuban&nbsp;has denied reports that he suggested a live interview between Vice President&nbsp;Kamala Harris&nbsp;and&nbsp;Tesla and SpaceX CEO Elon Musk. This comes in the wake of reports that the Harris campaign declined such a proposal.
What Happened: On Monday, The Hill <a href="https://thehill.com/policy/technology/4945280-vice-president-harris-musk-interview/">reported</a> that during an appearance on CNBC&#8217;s &#8220;Squawk Box,&#8221; Cuban said that Harris&#8217;s campaign denied the idea of an interview on X, formerly Twitter, with Musk.
Responding to Cuban&#8217;s comments on CNBC, Musk had also shown interest in doing this interview.
<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">I'm happy to have a live discussion, so there can't be any "distortion" &#x1f92d; That would be so awesome. Please can we do this &#x1f64f;. Pretty please.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1848356970601857460?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<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>
However, following the publication of the report, Cuban stated that he never asked Harris&#8217;s campaign about any interview but for a private discussion.
<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">I asked if they wanted to have a discussion. Not an interview
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1848468935819018637?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a separate <a href="https://x.com/mcuban/status/1848470158811271606?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1848470158811271606%7Ctwgr%5E5b38da1a3bf6b2496358a8af6329529a038a57d3%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Faction%3Deditpost%3D606307">post</a>, he shared the news article and reiterated his posting saying, &#8220;That is not what I said. I said that I asked them if they would be interested in talking to Elon. They said they would, but they didn't trust him not to disclose on X, what was said.&#8221;
Why It Matters: This incident underscores a potential miscommunication or misreporting involving the &#8220;Shark Tank&#8221; star. 
The controversy centers around Cuban&#8217;s statement that he proposed a private conversation,&nbsp;not a public interview, and&nbsp;the Harris campaign&#8217;s apprehensions about Musk potentially disclosing the conversation details online.
Cuban and Musk are currently clashing over their differing political views. The Tesla CEO has been actively supporting Republican presidential nominee Donald Trump, often using social media to share his opinions and allegations of election fraud.
Meanwhile, Cuban has thrown his support behind Democratic presidential candidate Harris. Over the weekend, Cuban also questioned the legality of <a href="https://www.benzinga.com/news/24/10/41422464/mark-cuban-questions-legality-of-elon-musks-1m-daily-pac-giveaway-but-tesla-ceo-highlights-the-shark">Musk&#8217;s $1 million daily PAC giveaway</a>.
Previously, Cuban also shared his views on Musk&#8217;s support for Trump despite their <a href="https://www.benzinga.com/news/24/09/40958452/mark-cuban-says-elon-musk-believes-hes-much-smarter-than-trump-reveals-the-intoxicating-reason-why-t">differing stances on climate change</a>.
He also warned <a href="https://www.benzinga.com/news/24/09/41083814/mark-cuban-warns-elon-musk-that-when-the-time-comes-he-needs-trump-the-most-he-will-find-out-the-tru">Musk about Trump&#8217;s loyalty</a>, saying, &#8220;At the point you need him the most, you will find out what so many before you have learned, his loyalty is only to himself.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/markets/esg/24/10/41426513/plug-power-evgo-enovix-analyst-clean-tech-picks-for-navigating-election-exposure-hedging-uncertainty?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Plug Power, EVgo, Enovix: Analyst Clean Tech Picks For Navigating Election Exposure, Hedging Uncertainty</a></li>
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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.

Politics

Mark Cuban: Harris Campaign Declined Private Talk With Elon Musk Over Public Disclosure Concerns, Not Live Interview — 'They Didn't Trust Him Not To Disclose On X'

Brad Garlinghouse, the CEO of Ripple Labs, underscored the significance of engaging with candidates promoting pro-cryptocurrency policies, irrespective of political affiliations.
What Happened: Responding to an X post by the co-founder of the company, Chris Larsen, who announced donating $10 million in XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) for Kamala Harris&#8216; campaign, Garlinghouse said he respected everyone&#8217;s right to support candidates they liked.
&#8220;Ripple will continue to engage with both Democrats and Republicans in the final days of the campaigns (and after the election) to promote pro-crypto policies,&#8221; Garlinghouse stated, emphasizing the need for bipartisan backing to policies supporting innovation in the industry.
&#8220;We need to immediately change course from this administration's misguided war on cryptocurrency,&#8221; he added.
<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">I respect Chris' (and everyone's!) right to support whomever they think is best to lead the U.S. We need to immediately change course from this administration's misguided war on crypto. Ripple will continue to engage with both Democrats and Republicans in the final days of…
&mdash; Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1848407530458042687?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, influential cryptocurrency analyst Ali Martinez poked fun at Chris Larsen&#8217;s continued financial support for Harris, saying, &#8220;May be XRP and XLM should be deemed securities after all!&#8221; 
The cheeky remark was aimed at the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41157465/gary-genslers-sec-appeals-2023-ruling-against-ripple-labs-xrp-tanks-10-just-prolongs-compl">ongoing legal battle</a> between Ripple and SEC over the security status of XRP.
<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">May be XRP and XLM should be deemed securities after all!
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1848415320685613234?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/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>
Why It Matters: Larsen made <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41437657/ripple-co-founder-donates-10-million-to-kamala-harris-campaign">three separate donations in September</a> to Future Forward, the Super PAC backing Harris, totaling close to $10 million. This was on top of an earlier contribution of $1 million in XRP to the same PAC in August.
Interestingly, Ripple legal chief Stuart Alderoty donated $300,000 in XRP to a Donald Trump-supporting PAC called Trump 47 PAC, according to a recent <a href="https://docquery.fec.gov/cgi-bin/forms/C00867937/1828468/">filing</a> with the Federal Election Commission. 
The cryptocurrency industry has become a significant player in the 2024 U.S. election cycle. Crypto-linked political action committees (PACs) have contributed nearly $130 million to both Republican and Democratic candidates, focusing on key congressional races, <a href="https://www.youtube.com/watch?v=a7bT_THhSPE">according</a> to CNBC. 
Did You Know? 
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>

$XRP

Brad Garlinghouse Defends Ripple Co-Founder's Donation To Kamala Harris While Top Crypto Analyst Throws XRP 'Securities' Jibe

SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) exceeded <a href="https://www.benzinga.com/news/earnings/24/10/41439701/sap-stock-climbs-after-mixed-q3-results-eps-beat-revenues-miss">earnings expectations in its latest quarter</a>, with Wedbush Securities analyst Dan Ives highlighting the European tech giant&#8217;s emerging role in the artificial intelligence revolution alongside industry leaders NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
What Happened: &#8220;SAP is going to be a foundational player,&#8221; Ives <a href="https://www.cnbc.com/video/2024/10/21/ives-sap-will-be-a-foundational-player-in-the-ai-market.html">told</a> CNBC. &#8220;I think it&#8217;s going to be a huge step in the right direction on cloud checks, actually very strong for SAP.&#8221;
The German software giant&#8217;s transformation to cloud-based services continues to accelerate, with Ives noting that cloud operations now represent approximately 45% of the company&#8217;s business. This figure is projected to reach 70% by the end of next year, signaling a significant shift in SAP&#8217;s business model.
The German software giant&#8217;s transformation to cloud-based services continues to accelerate, with Ives noting that cloud operations now represent approximately 45% of the company&#8217;s business. This figure is projected to reach 70% by the end of next year, signaling a significant shift in SAP&#8217;s business model.
&#8220;This speaks to the second derivative of the AI revolution,&#8221; Ives said. &#8220;It&#8217;s not just about NVIDIA and Microsoft, SAP is now joining that AI party.&#8221;
The results come as enterprise resource planning (ERP) and logistics software providers increasingly integrate AI capabilities into their offerings. Ives positioned SAP alongside Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Microsoft, and Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) as major beneficiaries of this trend, suggesting these companies will see &#8220;incremental string from enterprises accelerating AI cloud appointment.&#8221;
The growing emphasis on AI integration in enterprise software marks a significant shift in the industry, with traditional ERP providers like SAP adapting their offerings to meet the increasing demand for AI-powered solutions. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41442502/jim-cramer-says-buy-the-amex-dip-citing-love-from-millennial-and-gen-z-members-younger-customers">Jim Cramer Says Buy The AmEx Dip Citing Love From Millennial And Gen Z Members — Younger Customers Will Stick With The &#8216;Company For Decades&#8217;</a>
Why It Matters: SAP reported adjusted earnings of $1.33 per share, beating the consensus estimate of $1.32. Quarterly revenue came in at $9.16 billion, slightly below the <a href="https://www.benzinga.com/news/earnings/24/10/41439701/sap-stock-climbs-after-mixed-q3-results-eps-beat-revenues-miss">consensus estimate of $9.17 billion</a>. 
On Monday, Ives also mentioned other companies like Palantir, IBM, AMD, and Apple making <a href="https://www.benzinga.com/markets/equities/24/10/41420779/dan-ives-acknowledges-nvidia-microsoft-as-core-drivers-of-ai-but-sees-palantir-ibm-amd-and-apple">significant moves in artificial intelligence</a>.
Despite the positive earnings, SAP has been under scrutiny due to a <a href="https://www.benzinga.com/government/24/09/41029962/department-of-justice-investigates-sap-carahsoft-in-2b-price-fixing-probe">Department of Justice investigation</a> into allegations of overcharging U.S. government agencies. This investigation has been ongoing since at least 2022 and focuses on potential price-fixing schemes involving $2 billion worth of SAP technology sold to U.S. military and government agencies since 2014.
Price Action: SAP SE stock closed at $229.48 on Monday, down 0.42% for the day. In after-hours trading, the stock saw a notable increase, rising 3.54%. Year to date, SAP has gained 52.77%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><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-">Tesla Q3 Earnings Preview: Analyst Says 1.8 Million Unit Estimate &#8216;Hittable&#8217; For 2024, &#8216;2 Million+ Number The Focus For 2025&#8217;</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors

Tech

AMZN

NVDA

ORCL

SAP Is Joining The AI Party As A 'Foundational Player' Alongside Leaders Nvidia And Microsoft, Says Wedbush's Dan Ives

On Monday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). This comes amidst recent developments suggesting that Amazon may be ramping up its interest in nuclear energy to fuel its growing needs.
The Amazon Trade
Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ETF (BAYS: ARKQ) fund purchased 20,883 shares of Amazon, reflecting 0.4951% of the ETF. At the closing price of $189.07 on the same day, the value of the trade amounts to approximately $3.95 million. This move follows a series of recent developments around Amazon&#8217;s potential foray into nuclear energy.
A Benzinga report, in September, revealed that Amazon had <a href="https://www.benzinga.com/markets/equities/24/09/40969515/amazon-going-nuclear-hiring-plans-indicate-company-may-be-eyeing-nuclear-to-meet-energy-needs">reposted a job opening</a> for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy. Additionally, Amazon announced the expansion of its collaboration with Intel Corp., which has also <a href="https://www.benzinga.com/news/large-cap/24/09/40904271/whats-going-on-with-amazon-stock">positively impacted its stock.</a>
Wood&#8217;s confidence in Amazon has sparked a debate on whether this is a signal of the tech giant&#8217;s impending turnaround or another <a href="https://www.benzinga.com/news/24/10/41247558/cathie-woods-amazon-bet-from-kiss-of-death-to-bold-investment-is-she-right-this-time">high-risk gamble</a>.
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>
Other Key Trades: 
Ark Invest&#8217;s ARKG and ARKK funds bought shares of CRISPR Therapeutics AG (CRSP) and Cerus Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>).
ARKQ sold a significant number of shares of Oklo Inc (OKLO) while buying shares of BWX Technologies Inc (BWXT) and 3D Systems Corp ( DDD). Shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG) were sold by the ARKQ and ARKX funds.
Read Next: 
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<li><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></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>

ARKQ

CERS

Cathie Wood's Ark Invest Buys $3.95M Worth Of Amazon Stock Amid Company's Nuclear Moves

Rupert Murdoch&#8217;s Dow Jones and the New York Post have initiated legal proceedings against Jeff Bezos-backed AI firm Perplexity, alleging unauthorized use of their content and redirection of traffic to its platforms.
What Happened: On Monday, the News Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>)-owned entities claimed that Perplexity has been using their copyrighted material to train its AI, thereby enabling users to circumvent the publishers&#8217; websites, <a href="https://edition.cnn.com/2024/10/21/media/rupert-murdoch-dow-jones-perplexity-lawsuit/index.html#:~:text=Rupert%20Murdoch's%20Dow%20Jones%2C%20the,traffic%20to%20its%20own%20platforms.">reported</a> CNN.
The lawsuit alleges that <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">Perplexity&#8217;s business model</a> involves &#8220;massive freeriding&#8221; on the plaintiffs&#8217; protected content, competing for the same audience, and depriving them of crucial revenue sources.
See Also: <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>
News Corp CEO Robert Thomson accused Perplexity of copying large amounts of copyrighted material without compensation and presenting repurposed material as a direct substitute for the original source.
Perplexity 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" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The lawsuit comes on the heels of a cease-and-desist letter sent to Perplexity by The New York Times less than a week ago, demanding the startup stop using the newspaper's content.
The Times also sued ChatGPT-parent OpenAI last year <a href="https://www.benzinga.com/startups/24/01/36715030/despite-openai-claiming-new-york-times-lawsuit-is-without-merit-the-ai-giant-tells-uk-regulators-a-d">for copyright infringement</a>, accusing the company of using its reporting to train its chatbots without permission.
Earlier this year, News Corp signed a significant deal with OpenAI, licensing its news content in an agreement reported to be <a href="https://www.benzinga.com/news/24/05/38975543/news-corp-stock-pops-on-multiyear-deal-with-openai">worth more than $250 million</a>.
Meanwhile, Perplexity has seen its valuation triple in the past year, aiming for an <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">$8 billion valuation</a> in its latest funding round.
The AI startup has also <a href="https://www.benzinga.com/news/24/09/40972869/jeff-bezos-backed-perplexity-ai-in-discussion-with-marriott-and-nike-as-it-prepares-to-challenge-to">been in talks with top-tier companies</a> like Nike Inc. and Marriott International and is developing a "sponsored" question system to challenge Google's auction-based ads model.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41395202/tim-cook-called-to-complain-about-billions-in-eu-fines-imposed-on-apple-says-trump-im-not-going-to-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook Called To Complain About Billions In EU Fines Imposed On Apple, Says Trump: &#8216;I&#8217;m Not Going To Let Them Take Advantage Of Our Companies&#8217;</a></li>
</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.

Legal

Media

NWSA

Rupert Murdoch's Dow Jones, New York Post Sue Jeff Bezos-Backed Perplexity For Copyright Infringement, Accuse AI Firm Of 'Massive Freeriding'

Leading cryptocurrencies made a sharp U-turn Monday, mirroring the pullback in stocks, as the &#8216;Uptober&#8217; rally takes a halt.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.28%</td>
<td>$66,950.69</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-4.26%</td>
<td>$2,631.99</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.13%</td>
<td>$0.1421</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin went downhill throughout the day, dipping to an intraday low of $66,580. The retracement occurred just one day after the leading cryptocurrency surpassed $69,000 for the first time since early June.
Ethereum saw a steeper decline, falling back into the $2,600 zone. On Sunday, the second-largest cryptocurrency hit its highest level since the first week of August.
Total cryptocurrency liquidations surged to $204 million in the last 24 hours, with over $174 million longs being wiped out.&nbsp;
Bitcoin's Open Interest dropped by 2% in the last 24 hours, while Ethereum's speculative market contracted by 3.75%.
The pullback triggered bearish sentiment as the number of traders shorting Bitcoin rose compared to those bullishly leveraged on the asset, as per the Long/Shorts Ratio.
That said, market sentiment remained in the "Greed" zone as of this writing, according to the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:45 p.m. EDT)</td>
</tr>
<tr>
<td>Apecoin (APE)</td>
<td>+8.46%</td>
<td>$1.55</td>
</tr>
<tr>
<td>Cosmos (ATOM)</td>
<td>+2.81%</td>
<td>$4.83</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+1.93%</td>
<td>$0.009029</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.33 trillion, contracting 2.14% in the last 24 hours.
Stocks pulled back Monday, giving up gains from last week. The Dow Jones Industrial Average slipped 344.31 points, or 0.80%, to end at 42,931.60. The S&amp;P 500 fell 0.18% to 5,853.98. The tech-heavy Nasdaq Composite defied the slump, gaining 0.27% to end at 18,540.01.
The retrace followed record closes for both the Dow and the S&amp;P 500 on Friday, marking the sixth consecutive week of gains for Wall Street.
Investors expected the upcoming third-quarter earnings of premium tech companies like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to drive the markets.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: A widely followed cryptocurrency analyst, operating under the pseudonym Emperor, advised his followers not to hesitate to buy Bitcoin dips between $62,000 and $63,000.
He added that the area between $66,000 and $66,500 could be a good area of support and short-sellers could take profit at these levels.
"My target of $69,000 has now been hit and I&#8217;m looking to relong dips," the analyst remarked.
<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">Bitcoin Price Update 1. Backtest of $66,000 level held and we moved higher. Want to see price hold above Previous Month High for continuation higher. My target of $69,000 has now been hit and I&#39;m looking to relong dips. 2. I told you most will be scared to buy the dip at… <a href="https://t.co/1NwHonte72">pic.twitter.com/1NwHonte72</a>
&mdash; Emperor&#x1f451; (@EmperorBTC) <a href="https://twitter.com/EmperorBTC/status/1848373380569030663?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known cryptocurrency market observer, Michaël van de Poppe, noted that whale activity was high despite Bitcoin approaching its all-time highs.
"In essence: that&#8217;s a great sign for Bitcoin, but a terrible sign for the global economy," Van De Poppe remarked.
<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">Even though <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is ranging around the ATH&#39;s, the activity on whales is increasing and they are buying more. In essence: that&#39;s a great sign for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, but a terrible sign for the global economy. What can we expect? &#8211; I think we&#39;ll see <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> run to $300-500K. <a href="https://t.co/JKuRh1khpr">pic.twitter.com/JKuRh1khpr</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1848401359944458496?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41424841/donald-trumps-polymarket-odds-rise-to-61-3-after-mcdonalds-appearance">Donald Trump&#8217;s Polymarket Odds Rise To 61.3% After McDonald&#8217;s Appearance</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Plunge After Hitting Multi-Month Highs: Don't Be Scared To Buy BTC Dips Between $62K-$63K, Says Analyst

U.S. markets closed mixed on Monday, with the Dow Jones Industrial Average dropping 0.8% to 42,931.60 and the S&amp;P 500 slipping 0.2% to 5,853.98. Meanwhile, the Nasdaq gained 0.3%, closing at 18,540.01.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s shares reached a new all-time high, closing at a 4.14% increase to $143.71. The stock&#8217;s intraday high and low were $143.71 and $138 respectively, with a 52-week high and low of $143.71 and $39.23. The company&#8217;s stock has seen a <a href="https://www.benzinga.com/news/24/10/41437976/nvidia-stock-hits-all-time-high-ahead-of-big-tech-earnings-whats-going-on">significant rise</a> due to the increasing demand for its GPUs, particularly from hyperscalers building out data centers with advanced AI capabilities.
Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>)
Spirit Airlines&#8217; stock soared by 53.06% to close at $2.25. The intraday high and low were $2.54 and $1.85 respectively, with a 52-week high and low of $17.49 and $1.4. The airline&#8217;s shares traded higher after it <a href="https://www.benzinga.com/news/24/10/41432467/why-spirit-airlines-stock-is-taking-off-monday">extended its debt refinancing deadline</a>.
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>
SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>)
SAP&#8217;s shares saw a slight decrease of 0.42% to close at $229.48. The stock&#8217;s intraday high and low were $230.84 and $228.12 respectively, with a 52-week high and low of $232.23 and $130.08. The company&#8217;s stock traded higher after it reported mixed <a href="https://www.benzinga.com/news/earnings/24/10/41439701/sap-stock-climbs-after-mixed-q3-results-eps-beat-revenues-miss">third-quarter</a> financial results.
Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Trump Media &amp; Technology&#8217;s shares rose by 5.81% to close at $31.3. The stock&#8217;s intraday high and low were $31.65 and $29.32 respectively, with a 52-week high and low of $79.38 and $22.55. This comes despite <a href="https://www.benzinga.com/general/social-media/24/10/41431721/djt-stock-rises-despite-reported-whistleblower-allegations-at-trump-media">reported whistleblower allegations</a> concerning the Donald Trump-associated company&#8217;s hiring strategy.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares decreased by 0.84% to close at $218.85. The stock&#8217;s intraday high and low were $220.48 and $215.73 respectively, with a 52-week high and low of $271 and $138.8. Tesla&#8217;s CEO, Elon Musk, recently <a href="https://www.benzinga.com/news/24/10/41431406/elon-musk-says-tesla-will-not-buy-ev-rival-rivian-going-to-have-a-hard-time">dismissed the idea</a> of acquiring EV rival Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
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>

RIVN

SAVE

Nvidia, Spirit Airlines, SAP, Trump Media & Technology, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

CNBC host Jim Cramer has urged investors to consider buying American Express Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) shares <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407367/american-express-mixed-q3-results-goldman-analyst-sees-silver-lining-in-expense-man">despite the recent dip in the stock price</a>.
What Happened: Cramer, on his show &#8220;Mad Money,&#8221; highlighted the potential of American Express in the long term, especially in attracting younger customers. He emphasized the company&#8217;s strong earnings and credit quality, which he believes will only improve with the Federal Reserve&#8217;s ongoing interest rate cuts, <a href="https://www.cnbc.com/2024/10/21/jim-cramer-explains-why-you-should-buy-american-express-on-the-dip.html">reported</a> CNBC.
"American Express had tremendous success at winning over lots of younger customers, who will likely stick with the company for decades to come," Cramer said. "That's the big story here, not a line or two on the call about a softer spending environment&nbsp;right now, which management is handling with aplomb."&nbsp;
Despite a slight revenue miss and a downward revision of its full-year forecast, American Express reported a significant earnings beat. The company&#8217;s stock price fell by over 2% following the earnings report. Cramer believes that Wall Street is underestimating the company&#8217;s earnings strength and the potential for long-term growth.
He also lauded American Express for its success in attracting younger cardholders, a demographic he believes has a higher lifetime value than older customers. The company&#8217;s CFO, Christophe Le Caillec, noted on the earnings call that they are seeing strong loyalty from Millennial and Gen Z members.
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 recent dip in American Express&#8217; stock price follows a <a href="https://www.benzinga.com/news/earnings/24/10/41400722/american-express-q3-earnings-profit-beats-estimate-card-spending-grows-revises-annual-outlook">mixed third-quarter earnings repor</a>t. The company&#8217;s revenue (net of interest expenses) grew by 8% year-on-year to $16.64 billion, slightly missing the analyst consensus estimate of $16.67 billion. However, the adjusted EPS of $3.49 beat the analyst consensus estimate of $3.28.
Despite the revenue miss, the company&#8217;s Card Member spending or Billed Business grew by 6% (or 6% forex adjusted) year-over-year to $387.3 billion. This performance led analysts to increase their <a href="https://www.benzinga.com/news/earnings/24/10/41435324/american-express-analysts-increase-their-forecasts-after-q3-earnings">forecasts for the company&#8217;s future</a>.
Earlier in October, American Express announced that it would become the sole owner of Swisscard after UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41421951/american-express-to-become-sole-owner-of-swisscard-as-ubs-sells-its-50-stake">sold its 50% stake</a>. 
Despite the mixed results, analysts noted that the company&#8217;s higher loan volumes, stable growth in Card Member spending, and accelerated card fee revenue growth <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407367/american-express-mixed-q3-results-goldman-analyst-sees-silver-lining-in-expense-man">triggered the topline growth</a>.
Price Action: American Express stock closed at $270.74 on Monday, down 2.19% for the day. In after-hours trading, the stock slightly recovered, rising 0.28%. Year to date, American Express has gained 43.77%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/markets/equities/24/10/41416572/spirit-airlines-extends-debt-deadlines-jetblue-founder-suggests-frontier-group-a-more-suitable-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Spirit Airlines Extends Debt Deadlines, JetBlue Founder Suggests Frontier Group A More Suitable Match</a>
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>

Jim Cramer Says Buy The AmEx Dip Citing Love From Millennial And Gen Z Members — Younger Customers Will Stick With The 'Company For Decades'

Reo. Alexandria Ocasio-Cortez (D-N.Y.) expressed her views on the <a href="https://www.benzinga.com/news/24/10/41422464/mark-cuban-questions-legality-of-elon-musks-1m-daily-pac-giveaway-but-tesla-ceo-highlights-the-shark">million-dollar giveaway</a> from the Elon Musk-founded America PAC and Donald Trump&#8217;s <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">recent stint</a> at a McDonald&#8217;s restaurant.
What Happened: On Monday, Ocasio-Cortez shared a video through her X profile. &#8220;These billionaires have absolutely no idea what our lives are like,&#8221; she said.
&#8220;We gotta talk about what this guy is doing,&#8221; said Ocasio-Cortez on Musk. &#8220;He&#8217;s not only just dumping millions and millions of dollars here in the state of Pennsylvania, acting like he&#8217;s from here, acting like he knows what Pennsylvania is about.&#8221;
&#8220;When you have a billionaire, just dangling a million bucks to those of us and many of us who are struggling to make ends meet, if they dance for him&#8230;&#8221; she said.
&#8220;You&#8217;ve got Donald Trump, putting on a little McDonald&#8217;s costume because he thinks that&#8217;s what people do.&#8221;
&#8220;They&#8217;re not trying to empathize with us. They are making fun of us. Donald Trump thinks that people who work at McDonald&#8217;s are a joke. Elon Musk thinks that dangling money in front of a working person is a cute thing to do.&#8221;
She went on to say that billionaires had no idea what the lives of working-class people were like and that their &#8220;callousness&#8221; was a &#8220;way of connecting.&#8221; Ocasio-Cortez urged the gathering she addressed to vote for Kamala Harris and Tim Walz instead.
<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">These billionaires have absolutely no idea what our lives are like. <a href="https://t.co/pWd4Yct09n">pic.twitter.com/pWd4Yct09n</a>
&mdash; Team AOC (@TeamAOC) <a href="https://twitter.com/TeamAOC/status/1848464741162754145?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk, CEO of Tesla Inc and SpaceX, recently announced a daily $1 million giveaway to individuals in swing states who sign his petition supporting the First and Second Amendments. This move has drawn criticism, with some questioning its legality.
See Also: <a href="https://www.benzinga.com/news/24/10/41419769/trump-leads-harris-ex-president-improves-polling-averages-in-these-2-key-battleground-states-poll-sh?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Leads Harris — Ex-President Improves Polling Averages In These 2 Key Battleground States, Poll Show</a>
Meanwhile, former President Trump was spotted serving customers at a McDonald&#8217;s drive-thru in Pennsylvania, a key battleground state. He was seen operating the fry cooker and serving orders to customers.
Why It Matters: Musk&#8217;s daily giveaway, announced at a town hall, is part of a campaign by his pro-Trump super PAC, America PAC. The online petition aims to rally support for freedom of speech and the right to bear arms. This move has been met with skepticism and has been questioned by fellow billionaire Mark Cuban.
Trump&#8217;s stint at McDonald&#8217;s, on the other hand, is seen as a move to ridicule Vice President Harris&#8217;s past work experience at the fast-food chain. His appearance at the drive-thru was shared on social media by former White House press assistant Margo Martin.
Photos On Shutterstock.com
Did You Know?
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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>
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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>

General

AOC Slams Elon Musk, Trump For Belittling Working Classes: He Thinks Dangling A Million Dollars Is Cute — 'They're Not Trying To Empathize With Us. They Are Making Fun Of Us'

Back in 1994, Jeff Bezos almost called Amazon something entirely different — &#8220;Relentless.&#8221;
What Happened: Bezos loved the name so much that he even <a href="https://www.benzinga.com/news/23/05/32321912/jeff-bezos-wanted-amazon-to-be-named-cadabra-little-known-facts-about-amazons-early-days">registered relentless.com </a>(go ahead, type it in your browser — it still redirects to Amazon today).
But here&#8217;s the thing — his friends weren&#8217;t exactly thrilled with the name. They thought it sounded a bit too aggressive, maybe even sinister.
So Bezos went back to the drawing board and eventually landed on &#8220;Amazon,&#8221; inspired by the world&#8217;s largest river — a pretty fitting name for what would become the world&#8217;s largest online marketplace.
See Also: <a href="https://www.benzinga.com/news/24/07/39666069/jeff-bezos-described-his-unique-life-philosophy-which-follows-a-dorky-framework-revolving-regret-min">Jeff Bezos Described His Unique Life Philosophy Which Follows A Dorky Framework Revolving &#8216;Regret Minimization&#8217;</a>
Why It&#8217;s Important: The irony? While Bezos didn&#8217;t end up using the name &#8220;Relentless,&#8221; it turned out to be a pretty spot-on description of how he&#8217;s built his business empire. What started as an online bookstore has grown into&#8230; well, just about everything.
For instance, while Bezos isn't the CEO of Amazon anymore, he continues to stay involved with the company as executive chairman. He is also the e-commerce giant's largest shareholder.
In the year 2000, he decided to shoot for the stars. The tech mogul <a href="https://www.benzinga.com/news/23/12/36252993/jeff-bezos-reveals-blue-origins-role-in-amazon-exit-envisions-trillion-humans-across-solar-system">founded aerospace company</a> Blue Origin, a rival of Elon Musk's SpaceX, that aims to reduce space travel costs and increase safety.
In 2013, Bezos acquired The Washington Post for $250 million. This purchase also contributed to intensifying the <a href="https://www.benzinga.com/news/22/03/26352738/elon-musk-calls-out-washington-post-and-puppetmaster-jeff-bezos-heres-what-he-said">rift between Bezos and Musk</a>.
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.
Other companies that were acquired by Amazon include Whole Foods Market, Audible, Zappos and Twitch.
In 2023, Amazon also entered the healthcare arena by <a href="https://www.benzinga.com/news/24/07/39996940/google-cuts-ties-with-amazon-owned-one-medical-but-clarifies-it-is-not-due-to-e-commerce-giants-3-9b">acquiring a primary healthcare</a> provider One Medical for $3.9 billion.
And that&#8217;s not even counting all the companies he&#8217;s invested in, including Airbnb, Uber, and Nextdoor, to name a few.
Amazon currently has a market capital of $1.984 trillion, making it the fourth most valuable company in the world after Apple, Nvidia, Microsoft, and Alphabet. Meanwhile, Bezos&#8217; net worth has reached $212 billion, bringing him second to Musk on the rank of Bloomberg&#8217;s Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.
As Bezos continues pushing boundaries with space exploration and healthcare ventures, that rejected name from 1994 feels less like a dodged bullet and more like a blueprint for his entire career. Who knew a rejected domain name could tell such a story?
Image via Shutterstock
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<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a></li>
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Disclaimer:&nbsp;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.

Jeff Bezos Would Have Named Amazon As 'Relentless' But Then Someone Said It Sounded Sinister — He's Since Built A Business Empire That Knows No Limits

ZCARW

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