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Falcon Gold Corp is engaged in acquiring, exploring, and advancing quality mining projects in the Americas. Its projects include Esperanza Property, Central Canada Gold & Polymetalic Project, Camping Lake, Spitfire & Sunny Boy Claims, Burton Gold Property, and Springpole West Property.

Falcon Gold Corp

Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) reported quarterly earnings of $1.92 per share which beat the analyst consensus estimate of $1.66 by 15.66 percent. This is a 3.23 percent increase over earnings of $1.86 per share from the same period last year. The company reported quarterly sales of $71.089 billion which beat the analyst consensus estimate of $61.343 billion by 15.89 percent. This is a 6.89 percent decrease over sales of $76.350 billion the same period last year.

Earnings

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SHEL

Shell Q3 2024 Adj. EPADS $1.92 Beats $1.66 Estimate, Sales $71.089B Beat $61.343B Estimate

Citadel LLC CEO Ken Griffin predicted that Donald Trump would reclaim the U.S. presidency during the Future Investment Initiative summit in Saudi Arabia.
What Happened: Griffin, a significant Republican donor, expressed confidence in Trump&#8217;s victory, Fortune <a href="https://fortune.com/2024/10/30/ken-griffin-citadel-donald-trump-presidential-election-politics/">reported</a> on Wednesday. Despite his previous instances of financial support for the GOP, Griffin has not directly funded Trump&#8217;s campaign, instead focusing on primary candidates, particularly in open primaries
"The expectation today is that Donald Trump will win the White House in just a few days; we will know shortly," Griffin said.
See Also: <a href="https://www.benzinga.com/general/politics/24/10/41614533/market-expert-makes-2024-election-prediction-did-worlds-most-accurate-economist-pick-harris-or-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Expert Makes 2024 Election Prediction: Did &#8216;World&#8217;s Most Accurate Economist&#8217; Pick Harris Or Trump</a>
Griffin also commented on market volatility, suggesting that the election&#8217;s conclusion would reduce uncertainty, benefiting asset prices. 
"We're at that moment of peak uncertainty. It is a race that Trump is favored to win, but it is almost a coin toss,&#8221; he added. 
Why It Matters: The 2024 presidential election is shaping up to be a closely contested race between Trump and Vice President Kamala Harris. Recent betting odds <a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">indicate a tight competition</a>, with prediction markets favoring Trump. 
This follows a tumultuous period, including a tragic incident at a Trump rally in Butler, Pennsylvania in July, where a shooting resulted in casualties. Billionaires like Griffin and Elon Musk donated<a href="https://www.benzinga.com/personal-finance/24/07/39860934/billionaires-ken-griffith-and-elon-musk-step-up-big-to-donate-100-000-to-victims-of-trump-rally-"> $100,000 to the victims</a>.
Did You Know?
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<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">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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Photo by Dan G via Flickr
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>

Politics

General

GOP Megadonor Ken Griffin Says 'Expectation Today Is That Donald Trump Will Win The White House'

Zev Fima has increased the price target for Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to $650 per share. This comes despite a decline in the company&#8217;s stock during after-hours trading. Fima highlighted the robust third-quarter results, with revenue guidance for the current quarter surpassing expectations.
What Happened: At the time of writing, Meta was sliding down by 3.18% and was trading at $573 during the after-hours market, as per <a href="https://pro.benzinga.com">Benzinga Pro</a> after closing at $591.80 on Wednesday.
Fima&#8217;s new price target indicates a potential upside of over 9.5% from Wednesday&#8217;s closing price, which was slightly below its record-high close earlier in October. Despite this positive outlook, Fima maintained a &#8220;2&#8221; rating on the stock, suggesting short-term profit-taking opportunities, CNBC <a href="https://www.cnbc.com/2024/10/30/meta-drop-tells-the-wrong-story-on-earnings-were-boosting-our-price-target.html">reported</a> Thursday.
&#8220;Don't let the after-hours stock action fool you, Meta Platforms delivered one heck of a strong third quarter and a current quarter revenue guide above expectations,&#8221; he wrote.
Fima praised Meta for its dominance in targeted advertising and strong user engagement, which fosters a beneficial cycle between users and content creators. The company&#8217;s significant scale supports its growth in artificial intelligence, the metaverse, and virtual reality projects. Fima also commended management&#8217;s focus on cost control.
Despite the after-hours stock dip, Fima urged investors to focus on the strong third-quarter performance, including revenue surpassing expectations and operating margin expansion. The analyst believes long-term investors will benefit from patience as the company&#8217;s strategic investments continue to pay off.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41568486/mark-cuban-highlights-trumps-potential-to-ruin-christmas-but-he-might-also-end-up-spoiling-the-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Highlights Trump&#8217;s Potential To Ruin Christmas But He Might Also End Up Spoiling The Party For Apple, Amazon Investors</a>
Why It Matters: Meta reported third-quarter revenue of $40.59 billion, <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">exceeding analyst estimates</a> of $40.29 billion. The company also reported adjusted earnings of $6.03 per share, surpassing expectations of $5.25 per share. This strong financial performance underlines the company&#8217;s strategic direction and growth potential.
Additionally, <a href="https://www.benzinga.com/markets/equities/24/10/41644198/metas-core-business-doing-great-with-19-growth-ai-push-signals-search-monetization-ambitions-say">Meta&#8217;s core business</a> is experiencing significant growth, with a 19% increase. The company&#8217;s aggressive investment in AI suggests ambitions to monetize search, as noted by Gene Munster of Deepwater Asset Management. 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41590974/dogecoin-lifts-15-amid-rising-odds-of-trump-victory-in-betting-markets-and-expectations-of?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Lifts 15% Amid Rising Odds Of Trump Victory In Betting Markets And Expectations Of Elon Musk Heading &#8216;DOGE&#8217; Department</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.
Image via Shutterstock

Analyst Color

Equities

After-Hours Center

Markets

Analyst Says 'Don't Let After-Hours Stock Action Fool You' After Meta Slides Post Q3 Results: 'Delivered One Heck Of A Strong Third Quarter'

ASE Tech Holding Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.15 by 10.67 percent. This is a 5.51 percent increase over earnings of $0.13 per share from the same period last year. The company reported quarterly sales of $4.960 which missed the analyst consensus estimate of $5.146 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $4.868 billion the same period last year.

Earnings Misses

ASE Tech Holding Co Q3 2024 GAAP EPADS $0.13 Misses $0.15 Estimate, Sales $4.960 Miss $5.146B Estimate

Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), South Korea's largest company, reported a net income of 9.78 trillion won ($7.1 billion) for the September quarter, with its chip division earning 3.86 trillion won ($2.8 billion) in operating profit.
Artificial intelligence and data center server demand remained strong, though mobile chip sales dipped due to inventory adjustments. 
Samsung&#8217;s delays in NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) certification for AI memory chips have allowed competitors SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) and Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) to lead in <a href="https://www.benzinga.com/markets/equities/24/10/41220202/samsung-warns-of-q3-profit-drop-amid-shipment-delays-of-ai-chip-approved-by-nvidia">high-bandwidth memory</a>. 
SK Hynix recently posted a record 7.03 trillion won in profit, <a href="https://www.benzinga.com/markets/equities/24/10/41509305/nvidia-supplier-sk-hynix-reports-record-breaking-quarterly-profit-as-ai-demand-drives-7-revenue-">intensifying pressure on Samsung</a> in a rapidly evolving memory chip market.
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41642497/microsofts-ai-momentum-could-propel-4-trillion-market-cap-in-6-9-months-amid-robust-q1-earnings-">Microsoft&#8217;s AI Momentum Could Propel $4 Trillion Market Cap In 6-9 Months Amid &#8216;Robust&#8217; Q1 Earnings, Says Dan Ives: &#8216;This Is a Company Firing on All Cylinders&#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.

Asia

Global

Tech

HXSCF

NVDA

SSNLF

Samsung Profits Soar, But Company's Nvidia AI Chip Race Lag Allows SK Hynix, Micron To Take The Lead In High-Bandwidth Memory

According to new survey data from Redfin, support for rent control measures spans the political spectrum. 82% of Americans favor caps on landlord rent increases. The findings come as the Biden administration pushes for federal rent control legislation. Under the proposal, landlords who own 50 or more units would be required to limit annual rent hikes to 5% or risk losing federal tax benefits. This cap would be in effect for two years and aims to reduce housing instability, especially in light of recent rent spikes that have exacerbated homelessness in some areas.
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The September survey of 1,802 adults found broad backing for rent caps across party lines, with 86% of Democrats and 79% of Republicans supporting such measures. The survey revealed similar levels of support between renters (86%) and homeowners (78%).
The results emerge as the White House promotes a federal policy to limit annual rent increases to 5% nationwide. Currently, only seven states and Washington, D.C., maintain rent control policies.
California is an example of the ongoing debate around rent restrictions. The state&#8217;s existing Tenant Protection Act caps annual increases at 5% plus inflation. A November ballot measure would expand local authority to impose stricter limits.
However, <a href="https://www.benzinga.com/personal-finance/24/08/40101676/nearly-50-economists-were-asked-how-they-feel-about-president-bidens-5-rent-cap-this-is-what-the">economists warn of potential unintended consequences</a>. &#8220;Rent control sounds appealing for renters in theory because it limits price increases and saves money in the short term, but it eventually worsens rental affordability because it exacerbates the supply shortage,&#8221; Chen Zhao, Redfin&#8217;s economic research lead, said in the report.
Trending: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
Research issued by the Urban Institute in September supports the Redfin assessment. Their analysis indicates that while rent stabilization increases the number of units affordable to low-income residents, it typically reduces the overall rental supply. Landlords may convert properties to other uses or avoid entering controlled markets entirely.
"If rent increases are capped below the amount developers would need to make a profit, they have little incentive to build more apartments and homes," Zhao said in the Redfin report. "The best way to make rentals more affordable is to build more units."
See Also: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
The administration&#8217;s proposal targets large corporate landlords, defined as those owning more than 50 units. By complying with rent caps, these property owners would maintain access to tax depreciation benefits.
Implementation challenges loom large. The Urban Institute identified several key considerations, including enforcement mechanisms and preventing pre-implementation rent spikes. Evidence from Oregon suggests landlords may raise rents substantially before controls take effect.
The proposal&#8217;s success may depend on balancing tenant protections with market incentives. While public sentiment strongly favors controls, the <a href="https://www.benzinga.com/real-estate/24/07/39837809/bidens-rent-control-proposal-sparks-backlash-from-industry-executives-rent-control-is-a-counter-prod">economic implications suggest that it could exacerbate the problem it aims to fix</a>.
This has been updated by editor to clarify Biden&#8217;s federal rent control legislation is still currently a proposal.
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<li>During market downturns, investors are learning that unlike equities, these <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes" target="_blank" rel="noreferrer noopener">high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a></li>
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Real Estate

Redfin Survey Reveals 82% Of Americans Support Rent Caps: Strong Demand For Limits On Rent Hikes

Updating Full Year Management Guidance, and Reported and Core Forecasts
Takeda's FY2024 Management Guidance has been upgraded, primarily due to milder than anticipated generic erosion of VYVANSE and strong business momentum. Furthermore, also reflecting expected foreign exchange rates during the remaining second half of FY2024, Takeda's FY2024 reported and Core forecasts have been revised from the original forecast.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="3" rowspan="1">FY2024 Management Guidance Core Change at CER (Non-IFRS)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">FY2024 ORIGINAL MANAGEMENT GUIDANCE (May 2024)</td>
<td colspan="1" rowspan="1">FY2024 REVISED MANAGEMENT GUIDANCE (October 2024)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core Revenue</td>
<td colspan="1" rowspan="1">Flat to slightly declining</td>
<td colspan="1" rowspan="1">Flat to slightly increasing</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core Operating Profit</td>
<td colspan="1" rowspan="1">Approximately 10% decline</td>
<td colspan="1" rowspan="1">Mid-single-digit % decline</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core EPS (Yen)</td>
<td colspan="1" rowspan="1">Mid-10s% decline</td>
<td colspan="1" rowspan="1">Approx 10% decline</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="3" rowspan="1">FY2024 Reported and Core Forecasts (Billion yen, except percentages and per share amounts)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
FY2024 ORIGINAL FORECAST
(May 2024)
</td>
<td colspan="1" rowspan="1">
FY2024
REVISED FORECAST
(October 2024)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1">4,350.0</td>
<td colspan="1" rowspan="1">4,480.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core Revenue (Non-IFRS)</td>
<td colspan="1" rowspan="1">4,350.0</td>
<td colspan="1" rowspan="1">4,480.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Profit</td>
<td colspan="1" rowspan="1">225.0</td>
<td colspan="1" rowspan="1">265.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core Operating Profit (Non-IFRS)</td>
<td colspan="1" rowspan="1">1,000.0</td>
<td colspan="1" rowspan="1">1,050.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Profit</td>
<td colspan="1" rowspan="1">58.0</td>
<td colspan="1" rowspan="1">68.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">EPS (Yen)</td>
<td colspan="1" rowspan="1">37</td>
<td colspan="1" rowspan="1">43</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Core EPS (Yen) (Non-IFRS)</td>
<td colspan="1" rowspan="1">431</td>
<td colspan="1" rowspan="1">456</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted Free Cash Flow (Non-IFRS)</td>
<td colspan="1" rowspan="1">350.0 - 450.0</td>
<td colspan="1" rowspan="1">400.0-500.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Annual Dividend per Share (Yen)</td>
<td colspan="1" rowspan="1">196</td>
<td colspan="1" rowspan="1">196</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Takeda Raises 2024 Outlook: Now Expects Revenue Of ¥4.48T (Prior ¥4.35T) Vs. ¥4.497T Est.; And Core EPS Of ¥456 (Prior ¥431); Sees Adjusted Free Cash Flow Of ¥400B-¥500B (Prior ¥350B - ¥450B)

2024 Outlook
<ol>
<li>Overall Performance: We expect our FY24 EBITDA to grow between 6-8%. The outlook for FY24 reflects our current assessment of inflation and other macroeconomic conditions.</li>
<li>Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 220 to 250 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY24 to be approximately 4%.</li>
<li>Effective Tax Rates (ETR): We expect the normalized ETR in FY24 to be in the range of 27% to 29%. The ETR outlook does not consider the impact of potential future changes in legislation.</li>
<li>Net Capital Expenditure: We expect net capital expenditure of between 4.0 and 4.5 billion USD in FY24.</li>
</ol>

Anheuser-Busch InBev Raises 2024 Outlook: Now Expects EBITDA To Grow Between 6%-8% (Prior 4%-8%), And Expects Capital Expenditure Of 4B-4.5B

Total Volume
In 3Q24, total volumes declined by 2.4%, with own beer volumes down by 3.1% and non-beer volumes up by 0.6%.
In 9M24, total volumes declined by 1.3% with own beer volumes down by 1.9% and non-beer volumes up by 2.5

Anheuser-Busch InBev Q3 Total Volumes Declined By 2.4%, With Own Beer Volumes Down By 3.1% And Non-Beer Volumes Up By 0.6%

The midpoint of this outlook translates into full year 2024 revenues of about $13.27 billion, representing a 23.2% year-over-year decrease, in the low-end of the range indicated in the previous quarter, and a gross margin slightly below that provided in such indication.

STMicroelectronics For Fiscal 2024 Expects Revenues Of $13.27B Vs. $13.366B Consensus; Slightly Lower Gross Margin YoY

Business Outlook
ST's guidance, at the mid-point, for the 2024 fourth quarter is:
<ul>
<li>Net revenues are expected to be $3.32 billion, an increase of 2.2% sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of 38%, plus or minus 200 basis points.</li>
<li>This outlook is based on an assumed effective currency exchange rate of approximately $1.11 = €1.00 for the 2024 fourth quarter and includes the impact of existing hedging contracts.</li>
<li>The fourth quarter will close on December 31, 2024.</li>
</ul>

STMicroelectronics Expects Q4 Net Revenues To Be $3.32B Vs. Consensus Of $3.396B; Sees Gross Margin Of 38%, Plus Or Minus 200 Bps

Takeda Pharmaceutical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) reported quarterly earnings of ¥134.00 per share. This is a 20.72 percent increase over earnings of ¥111.00 per share from the same period last year. The company reported quarterly sales of ¥1.176 trillion which beat the analyst consensus estimate of ¥1.084 trillion by 8.48 percent. This is a 12.75 percent increase over sales of ¥1.043 trillion the same period last year.

Takeda Pharmaceutical Q2 2024 GAAP EPS ¥134.00 Up From ¥111.00 YoY, Sales ¥.176T Beat ¥1.084T Estimate

Shytoshi Kusama, the leader of the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) ecosystem, expressed frustration over the coin not getting due respect despite impressive gains over the years.
What Happened: Kusama was responding to an X post by Nick Tomaino, founder of cryptocurrency-focused fund 1confirmation, who didn&#8217;t include Shiba Inu on his list of most impactful cryptocurrency projects to date.
&#8220;Again, the disrespect&#8230; smh #SHIB,&#8221; an irritated Kusama said. 
When pointed out by a fellow SHIB community member that unless the coin rises above $0.01, it won&#8217;t garner any respect and will remain a &#8220;chump change meme.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry&#8230;top 10 isn&#39;t chump change ser. Those who are wise give us respect. &quot;Crypto Twitter&quot; just hasn&#39;t DYOR
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1851788955500380663?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Kusama strongly disagreed, stating that SHIB is one of the top cryptocurrencies by market capitalization and is far from a chump change.
&#8220;Those who are wise give us respect. &#8220;Crypto Twitter&#8221; just hasn&#8217;t DYOR,&#8221; Kusama argued.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41632012/why-clearer-regulations-are-unlocking-wall-streets-move-into-digital-assets">Why Clearer Regulations Are &#8216;Unlocking&#8217; Wall Street&#8217;s Move Into Digital Assets</a>
Why It Matters: Kusama&#8217;s rebuke comes shortly after they highlighted <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616239/shytoshi-kusama-touts-shiba-inu-lifetime-gains-of-33774726-we-still-have-far-to-go-and-muc">SHIB&#8217;s meteoric lifetime growth</a>, which stood at a staggering 33,774,726.7% from its all-time low.
The mysterious personality added that the team was working hard to further enhance the ecosystem and gain broader recognition.
"So, don't ignore Shib. Or do, until you can no longer," Kusama said, pointing toward critics.<a href="https://twitter.com/ShytoshiKusama/status/1851413811246293472" target="_blank" rel="noreferrer noopener"></a>
The $11 billion capitalization cryptocurrency has jumped 80% year-to-date, trailing Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)—the most valuable meme coin— which was up 92%.
Price Action:&nbsp;At the time of writing, Shiba Inu was exchanging hands at $0.00001872, down 2.23% 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>.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

$SHIB

Shytoshi Kusama Schools X User Who Said SHIB Will Remain 'Chump Change Meme' Unless It Can Rise Above A Penny: 'Those Who Are Wise Give Us Respect'

argenx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $0.02 by 6850 percent. This is a 211.2 percent increase over losses of $(1.25) per share from the same period last year. The company reported quarterly sales of $588.878 million which beat the analyst consensus estimate of $538.520 million by 9.35 percent. This is a 73.28 percent increase over sales of $339.839 million the same period last year.

ARGX

argenx Q3 2024 GAAP EPS $1.39 Beats $0.02 Estimate, Sales $588.878M Beat $538.520M Estimate

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.37 per share which beat the analyst consensus estimate of $0.33 by 12.12 percent. This is a 68.1 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $3.251 billion which beat the analyst consensus estimate of $3.247 billion by 0.13 percent. This is a 26.63 percent decrease over sales of $4.431 billion the same period last year.

STMicroelectronics Q3 2024 GAAP EPS $0.37 Beats $0.33 Estimate, Sales $3.251B Beat $3.247B Estimate

Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.89 by 10.11 percent. This is a 13.95 percent increase over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $15.046 billion which missed the analyst consensus estimate of $15.644 billion by 3.82 percent. This is a 3.39 percent decrease over sales of $15.574 billion the same period last year.

Anheuser-Busch InBev Q3 2024 Adj. EPS $0.98 Beats $0.89 Estimate, Sales $15.046B Miss $15.644B Estimate

SpaceX&#8216;s Falcon 9 rocket launched the company&#8217;s 200th Starlink mission to low Earth orbit on Wednesday, the company said in a post on social media platform X.
What Happened: Falcon 9 launched 23 Starlink satellites into space from Florida on Wednesday evening, marking the company&#8217;s 200th Starlink mission.
Starlink, a segment of SpaceX, provides low-latency connectivity to over 4 million people around the globe with the help of a network of satellites in orbit. Early in September, the company said that it had launched over 7,000 Starlink satellites into space.
SpaceX CEO Elon Musk congratulated the SpaceX team for the successful flight. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> team on the 200th successful Starlink flight! <a href="https://t.co/9Jzoi5OqFX">https://t.co/9Jzoi5OqFX</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1851801379146469860?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to data from astronomer&nbsp;Jonathan McDowell, SpaceX has launched 7,213 Starlink satellites to date, of which over 6,500 are working. 
What Happened: SpaceX is looking forward to <a href="https://www.benzinga.com/news/24/10/41622928/nasa-endorses-initial-deployment-of-400-starlink-satellites-closer-to-earth-will-conduct-study-to-ga">permits from the Federal Communication Commission</a> (FCC) to deploy satellites closer to Earth at lower altitudes.
&#8220;The next generation Starlink satellites, which are so big that only Starship can launch them, will allow for a 10X increase in bandwidth and, with the reduced altitude, faster latency,&#8221; Musk<a href="https://www.benzinga.com/news/24/10/41449080/elon-musk-says-starlink-will-improve-significantly-with-multi-gigabit-bandwidth-after-spacexs-starsh"> wrote</a> on social media platform X earlier this month.
<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 </a>is currently launching its Starlink satellites on its Falcon rocket. The Starship launch vehicle, meanwhile, is in the testing and development phase and is yet to carry any payload to space.
Image: Created with artificial intelligence on MidJourney and Official SpaceX Photos on Flickr
Check out more of Benzinga&#8217;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/24/10/41617327/lucid-to-start-taking-orders-for-gravity-suv-next-week-but-only-for-premium-variant-priced-at-about" target="_blank" rel="noreferrer noopener">Lucid To Start Taking Orders for Gravity SUV Next Week, But Only For Premium Variant Priced At About $95,000</a></li>
</ul>

SPACE

Elon Musk Congratulates SpaceX Team For 200th Successful Starlink Flight

Deepwater Asset Management&#8216;s Managing Partner Gene Munster offered a detailed analysis of Meta Platforms Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">third-quarter performance</a>, highlighting the company&#8217;s strong core business and ambitious AI investments.
What Happened: &#8220;Following the Meta call, the key takeaway is the core business is doing great and they&#8217;re aggressively investing in AI to become the next big thing,&#8221; Munster wrote on X. &#8220;My guess is that big thing is related to monetizing search.&#8221;
In his analysis, Munster emphasized several key points:
<ul>
<li>Revenue Growth: Meta achieved 19% year-over-year growth in the September quarter, slightly exceeding expectations of 18%. The company&#8217;s guidance suggests further acceleration to 20% growth in December. </li>
<li>User Engagement: Daily active users reached 3.29 billion, growing at 5% year-over-year. While slightly below estimates of 3.31 billion, Munster noted this growth is impressive given Meta&#8217;s already massive user base, with approximately half of the world&#8217;s population using a Meta property daily. </li>
<li>Capital Expenditure: Meta&#8217;s aggressive infrastructure investment could see an 87% increase in the December quarter, significantly higher than competitor Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) owned Google&#8216;s projected 19% increase. Munster supported this strategy, calling it &#8220;absolutely the right thing for the company to do.&#8221; </li>
<li>Competitive Position: Meta&#8217;s growth outpaces its tech peers, with Munster comparing the company&#8217;s projected 20% December growth to Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) 14% and Google&#8217;s search business at 12%.</li>
</ul>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Following the <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> call, the key takeaway is the core business is doing great and they're aggressively investing in AI to become the next big thing. My guess is that big thing is related to monetizing search. <a href="https://t.co/QLoOc6gXO1">pic.twitter.com/QLoOc6gXO1</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1851769806120198313?ref_src=twsrc%5Etfw">October 30, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41643612/amd-ceo-lisa-su-no-one-size-fits-all-in-500b-ai-computing-future">AMD CEO Lisa Su: No &#8216;One Size Fits All&#8217; In $500B AI Computing Future</a>
Why It Matters: Despite positive fundamentals, Meta&#8217;s stock declined 3% in after-hours trading, which Munster attributed to high pre-earnings expectations. He noted the stock had already risen 20% in the previous three months, compared to the NASDAQ&#8217;s rise of just over 5%.
Looking ahead, Munster believes Meta&#8217;s massive user base positions the company well for AI implementation, potentially leading to &#8220;growth rates that are higher than what most people think for the next couple years.&#8221;
The analysis also touched on Meta&#8217;s AI ambitions, with the company reporting a 7% improvement in advertising conversion rates through AI-powered targeting tools. According to Munster, Meta aims to have the most widely used generative AI chat service by year-end.
Price Action: Meta stock closed at $591.80, down 0.25% on Wednesday. In after-hours trading, the stock declined further, dropping 3.18%. Year to date, Meta has shown substantial growth, surging by 70.90%, 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/markets/equities/24/10/41642497/microsofts-ai-momentum-could-propel-4-trillion-market-cap-in-6-9-months-amid-robust-q1-earnings-">Microsoft&#8217;s AI Momentum Could Propel $4 Trillion Market Cap In 6-9 Months Amid &#8216;Robust&#8217; Q1 Earnings, Says Dan Ives: &#8216;This Is a Company Firing on All Cylinders&#8217;</a></li>
</ul>
Image Via Pixabay
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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