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Lumen Technologies

With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company's operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.

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CABO

LUMN

Descubre qué acciones del sector de comunicación están sobrevendidas y podrían ofrecer oportunidades de compra, según su RSI.

¿Oportunidad de compra? 3 acciones del sector de comunicación con RSI por debajo de 30

Lumen Technologies Inc

Mizuho analyst Vijay Rakesh maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Outperform and lowers the price target from $515 to $430.

TSLA

Mizuho Maintains Outperform on Tesla, Lowers Price Target to $430

Key Findings
<ul>
<li>The publication describes CD388 and its potential for universal activity across influenza A and B viruses in cellular and animal models.
<ul>
<li>Administration of CD388 resulted in the following:
<ul>
<li>Potent, universal activity against all influenza A and B virus strains, including high pathogenicity strains like H5N1, also known as avian influenza or bird flu, and strains that are resistant to approved neuraminidase inhibitors</li>
<li>Low potential for resistance development</li>
<li>Efficacy at similar exposures in immune-competent and immune-compromised lethal challenge models in mice demonstrating that efficacy is driven predominantly by the intrinsic antiviral activity of CD388</li>
</ul>
</li>
</ul>
</li>
</ul>
CD388 is currently under clinical evaluation in the ~5000 patient Phase 2b NAVIGATE trial, evaluating CD388 for the single-dose prevention of seasonal influenza in healthy unvaccinated adult subjects.

Biotech

Health Care

General

CDTX

Cidara Therapeutics Announced The Publication Of Preclinical Data Assessing CD388, The Company's Influenza Drug-fc Conjugate, In The Peer-reviewed Scientific Journal Nature Microbiology

Townsquare Media (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSQ#NYSE">TSQ</a>) reported quarterly earnings of $0.60 per share which met the analyst consensus estimate. This is a 76.47 percent increase over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $117.81 million which beat the analyst consensus estimate of $116.41 million by 1.21 percent. This is a 2.64 percent increase over sales of $114.79 million the same period last year.

Earnings

Earnings Beats

Townsquare Media Q4 Adj $0.60, Inline, Sales $117.81M Beat $116.41M Estimate

Revelation anticipates demonstrating the same protective effect in patients treated with Gemini in its Phase 1b clinical study, which will provide evidence of the potential efficacy of Gemini in the Company's target indications.&nbsp;
&nbsp;
n this study, human PBMCs were primed with either Gemini or placebo followed by challenge with clinically relevant promoter molecules of inflammation including high mobility box protein-1 (HMGB-1) and lipopolysaccharide (LPS) in vitro. HMGB-1 is an endogenous damage associated molecular pattern (DAMP) that is generated during tissue injury (e.g. during surgery) which drives the inflammatory response. LPS is an exogenous pathogen associated molecular pattern (PAMP) that is generated from a bacterial infection and drives the inflammatory response associated with infection (e.g. fever).
After exposure of Gemini-primed PMBCs to either HMGB-1 or LPS, levels of multiple proinflammatory and anti-inflammatory cytokines including IL-1 beta, TNF-alpha, IL-6, IL-1 Receptor Antagonist, and IL-10 were measured. Priming with Gemini significantly decreased proinflammatory cytokines and significantly increased anti-inflammatory cytokines, relative to placebo.&nbsp;

REVB

Revelation Biosciences Says Gemini Priming Attenuates The Inflammatory Response In Human Peripheral Blood Mononuclear Cells Exposed To Clinically Relevant Promoter Molecules Of Inflammation

Belite Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLTE#NASDAQ">BLTE</a>) reported quarterly losses of $(0.32) per share which missed the analyst consensus estimate of $(0.31) by 3.23 percent. This is a 28 percent decrease over losses of $(0.25) per share from the same period last year.

BLTE

Belite Bio Q4 2024 GAAP EPS $(0.32) Misses $(0.31) Estimate, As Of December 31, 2024, The Company Had $31.7M In Cash

Jameson Lopp, chief security officer at Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) custody firm Casa and a noted technologist, opposed the use of quantum computers to recover lost BTCs on Sunday and instead proposed burning them to uphold the protocol&#8217;s integrity.
What Happened: In a blog <a href="https://blog.lopp.net/against-quantum-recovery-of-bitcoin/">post</a>, Lopp envisioned a scenario where the Bitcoin network would undergo a quantum resistance upgrade and discussed what should ideally be done with quantum-vulnerable coins and coins that have been hacked.
&#8220;Allowing quantum recovery of Bitcoin is tantamount to wealth redistribution,&#8221; Lopp argued. &#8220;What we&#8217;d be allowing is for Bitcoin to be redistributed from those who are ignorant of quantum computers to those who have won the technological race to acquire quantum computers.&#8221;
He further added that allowing a quantum adversary to gain control of others&#8217; funds would <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36149260/not-your-keys-not-your-wallet-elon-musk-adds-to-blocks-bitkey-buzz-as-jack-dorsey-says-mov">violate</a> the &#8220;Not your keys, not your coins&#8221; thesis and weaken the fundamental principles of cryptocurrencies. Moreover, if the entity exploits vulnerable addresses, it would erode trust in Bitcoin as a trusted store of value.
To avoid this, Lopp suggested alerting users that vulnerable funds would be burned or frozen after a specified date. This, according to him, would fasten migration to quantum-resistant addresses.
&#8220;Allowing vulnerable users to delay upgrading indefinitely will result in more laggards, leaving the network more exposed when quantum tech becomes available,&#8221; Lopp stated.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44267582/us-house-committee-favors-stablecoin-regulation-to-strenthen-dollar-advocates-against-cbdc">House Committee Favors Stablecoin Regulation To &#8216;Strengthen&#8217; Dollar: Majority Whip Says CBDCs Against &#8216;American Values&#8217;</a>
Why It Matters: The debate around quantum computing and its potential threat to Bitcoin has been ongoing. 
Last year, Google&#8217;s new &#8220;Willow&#8221; quantum computing chip <a href="https://www.benzinga.com/markets/equities/24/12/42420845/googles-quantum-willow-chip-lightyears-from-cracking-bitcoin-expert">sparked concerns</a> about a powerful computer potentially breaking through the apex cryptocurrency&#8217;s encryption, although some experts stated that this was still &#8220;lightyears&#8221; away.
Moreover, a study suggested that Bitcoin might need to undergo a<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42546731/bitcoin-could-require-over-300-days-of-downtime-to-prepare-it-for-the-quantum-era-shows-study-amid-google-willow-chip-concern"> costly and time-consuming update</a> process to ward off the threat of quantum computing in the future. 
The study estimated that a protocol update to protect Bitcoin from quantum computing threats would require taking the cryptocurrency offline for about 76 days if 100% of the bandwidth is committed to the process. If only 25% of the bandwidth is allowed, the update could take nearly 305 days or 10 months.
Price Action: At the time of writing, Bitcoin was exchanging hands at $83,275.88, down 1.10% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44268317/sec-postpones-approval-of-several-crypto-spot-etfs-says-influential-analyst">Dogecoin, XRP ETF Filings Delayed By SEC But Influential Analyst Says &#8216;Relatively High&#8217; Odds Of Approval</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.
Photo courtesy: Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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

Cryptocurrency

$BTC

GOOGL

Bitcoin Technologist Opposes Quantum Recovery Of Lost BTC, Advocates Coin Burning

Baird analyst Michael Halloran upgrades Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) from Neutral to Outperform and maintains the price target from $71 to $71.

Upgrades

Baird Upgrades Flowserve to Outperform, Maintains Price Target to $71

U.S. stock futures fell again on Monday after Friday&#8217;s rally, as benchmark indices hovered around the correction zone. Futures of all four benchmark indices declined in premarket trading.
Investors will focus on the Federal Open Market Committee&#8217;s decision on interest rates slated to be released on Wednesday this week. The meeting will begin on Tuesday and Chairman Jerome Powell will address a press conference on Wednesday afternoon.
February&#8217;s retail sales data will be released today before the market opens. President Donald Trump&#8216;s tariff negotiations continue as traders wait for &#8220;reciprocal tariffs&#8221; which go into effect on April 2nd.
Meanwhile, Treasury Secretary Scott Bessent said Sunday that the Trump administration is working to prevent a financial crisis caused by years of excessive government spending. 
"I can guarantee we would have had a crisis if spending had continued at unsustainable levels," Bessent said <a href="https://www.cnbc.com/2025/03/16/treasury-secretary-bessent-says-white-house-is-heading-off-financial-crisis.html">on</a> NBC's Meet the Press. "We are resetting and putting things on a sustainable path.&#8221;
The 10-year Treasury yield stood at 4.29%, while the two-year yield was at 4.01%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 99% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.48%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.49%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.49%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.63%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, dropped in premarket on Monday. The SPY was down 0.39% to $560.64, and the QQQ also declined 0.41% to $477.70, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
On Friday, Technology, energy, and financials led a Friday surge in U.S. stocks, with the S&amp;P 500 rising over 2%.
Big tech shares, particularly Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), rebounded strongly, though overall stocks, including the Dow and S&amp;P 500, recorded weekly losses.
Conversely, consumer sentiment, as measured by the University of Michigan, fell to its lowest point since November 2022.
As of Friday&#8217;s close, the S&amp;P 500 index was 8.27% down from its previous high, which followed a bounce from Thursday&#8217;s 10.18% drawdown. Similarly, the Nasdaq 100 was 11.33% lower and Dow Jones was down 7.95% from its 52-week high as of Friday.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>2.61%</td>
<td>17,754.09</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>2.13%</td>
<td>5,638.94</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>1.65%</td>
<td>41,488.19</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2.53%</td>
<td>2,044.10</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
The CEO of Creative Planning, Peter Mallouk in an X post highlighted that over the last 75 years, the intra-year market drop has been 14% on average.
&#8220;Downside volatility is the price investors pay for long-term outperformance,&#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">Over the last 75 years, the average intra-year market drop has been 14%. If you are overly stressed out about the current 10% drawdown, the stock market isn't for you. Downside volatility is the price investors pay for long-term outperformance. <a href="https://t.co/dB995bwVkU">pic.twitter.com/dB995bwVkU</a>
&mdash; Peter Mallouk (@PeterMallouk) <a href="https://twitter.com/PeterMallouk/status/1901355862347956640?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Mallouk further reiterated that market pullbacks are common and a complete recovery is inevitable over time. &#8220;Stay calm and stick with your long-term plan,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stock market pullbacks happen every year, and they all have one thing in common: a complete recovery with the passage of time. Stay calm and stick with your long-term plan. <a href="https://t.co/fnHfoFUovd">pic.twitter.com/fnHfoFUovd</a>
&mdash; Peter Mallouk (@PeterMallouk) <a href="https://twitter.com/PeterMallouk/status/1901386240366125390?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ryan Detrick of Carson Research also highlighted the historical data and underlined this was the fastest period of correction for the S&amp;P 500 after scaling a fresh high on Feb. 19. It just took the index 16 days to slip into the correction territory.
<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">This was one of the fastest corrections ever. Here are all the times the S&amp;P 500 went from an ATH to down 10% within a month. Higher 3 and 6 months later every time doesn&#39;t sound like the worst news. <a href="https://t.co/y0mzaMhQo2">pic.twitter.com/y0mzaMhQo2</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1901249591229714860?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additionally, Detrick underscored that the S&amp;P 500 has slid into a correction zone for 12 times since 1950 without going into a bear market.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Do you think this goes into a bear market? Since 1950, I found 12 other times stocks corrected 10% from an all-time high and didn&#39;t go into a bear market. 6 and 12 month later? Never lower. <a href="https://t.co/vAu3GsY8wI">pic.twitter.com/vAu3GsY8wI</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1901406424413995429?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the Panic/Euphoria analysis model shared by Jay Kaeppel, the senior market analyst at SentimenTrader, the S&amp;P 500's decline was still not flashing a buy signal. However, from this point, investors could &#8220;Start looking for a buy signal,&#8221; at the current levels.
<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">Is this a "Buy" signal? IMO, no. Is this a "Start looking for a buy signal" signal? IMO, yes. Doesn't mean it will come soon or that things can't get worse as the first "dot" rarely marks the exact bottom (only in 2018). Still, the numbers are what they are. <a href="https://twitter.com/sentimentrader?ref_src=twsrc%5Etfw">@sentimentrader</a> <a href="https://t.co/6Xq1lk9kNj">pic.twitter.com/6Xq1lk9kNj</a>
&mdash; Jay Kaeppel (@jaykaeppel) <a href="https://twitter.com/jaykaeppel/status/1900529743218286779?ref_src=twsrc%5Etfw">March 14, 2025</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/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on this week:
<ul>
<li>On Monday, February&#8217;s U.S. retail sales and March&#8217;s Empire State manufacturing survey will be released at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>January&#8217;s business inventories data and March&#8217;s homebuilder confidence index data will be out by 10:00 a.m., ET.</li>
</ul>
<ul>
<li>On Tuesday, February&#8217;s housing starts, building permits, and import price index data will be announced at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Also, February&#8217;s industrial production and capacity utilization data will be released at 9:15 a.m., ET.</li>
</ul>
<ul>
<li>On Wednesday, FOMC will announce its decision on interest rates at 2:00 p.m., and Federal Reserve Chairman Jerome Powell will address a press conference at 2:30 p.m., ET.</li>
</ul>
<ul>
<li>On Thursday, the initial jobless claims data for the week ended March 15 and the Philadelphia Fed manufacturing survey data for March will be out by 8:30 a.m., ET.</li>
</ul>
<ul>
<li>February&#8217;s existing home sales and U.S. leading economic indicators data will be released by 10:00 a.m., ET.</li>
</ul>
<ul>
<li>No data is scheduled to be released on Friday this week.</li>
</ul>
Stocks In Focus:
<ul>
<li>Science Applications International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) was up 1.51% in premarket on Monday as it is expected to report before the opening bell. Analysts expect earnings of $2.08 per share on revenue of $1.81 billion.</li>
</ul>
<ul>
<li>Getty Images Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) advanced 2.45% as Wall Street expects it to report earnings of 4 cents per share on revenue of $246.31 million after the closing bell.</li>
</ul>
<ul>
<li>Consolidated Water Co. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWCO#NASDAQ">CWCO</a>) rose 0.24% as it is expected to report after the closing bell. Analysts expect earnings of 28 cents per share on revenue of $33.60 million.</li>
</ul>
<ul>
<li>Castellum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) slumped 20.64% after announcing the price of $4.5 million worth of proposed public offering of common stock and warrants at $1 per unit.</li>
</ul>
<ul>
<li>Gogo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) plunged 26.97% after reporting a fourth-quarter EPS loss of $0.22, significantly below the $0.0567 forecast, but exceeded revenue expectations with $137.8 million versus the projected $97.28 million.</li>
</ul>
<ul>
<li>Eagle Bancorp Montana Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBMT#NASDAQ">EBMT</a>) dropped 16.91% after disclosing a material weakness in internal controls regarding borrowing classifications in cash flow statements, posing risks of financial misstatements, reputational damage, reduced investor confidence, and potential legal and regulatory issues.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.03% to hover around $67.60 per barrel.
The gold spot index was up by 0.28% to $2,990.85 per ounce. Its last record high was at $3,005.08 per ounce. The Dollar Index was unchanged at the 103.719 level.
Most Asian markets closed higher on Monday except China&#8217;s CSI 300 index. On the other hand, Japan's Nikkei 225, South Korea's Kospi, Australia's ASX 200, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex advanced. European markets were higher in trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44350479/warren-buffett-plans-to-sell-his-real-estate-brokerage-but-its-not-a-bet-against-us-home-prices-says-analyst-as-f">Warren Buffett Plans To Sell His Real Estate Brokerage, But It&#8217;s &#8216;Not… A Bet Against US Home Prices,&#8217; Says Analyst As Fed Expects To Keep Rates Unchanged</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Asia

Earnings Misses

Equities

Government

Macro Economic Events

Macro Notification

Market Summary

Regulations

Bonds

Broad U.S. Equity ETFs

Guidance

Emerging Markets

Eurozone

Futures

Commodities

Forex

Treasuries

Economics

Federal Reserve

ETFs

CWCO

EBMT

GETY

GOGO

NVDA

SAIC

US Stocks Likely To Open Lower As Futures Decline: 'Stay Calm And Stick With Your Long-Term Plan,' Says Expert Amid Correction Woes

A <a href="https://in.benzinga.com/25/03/44212431/meta-whistleblower-alleges-zuckerberg-offered-china-full-censorship-control-and-user-data-access-in-desperate-bid-to-enter-market-working-hand-in-glove-with-the-chinese-communist-party-and-lying-about-it">new memoir by a former</a> Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) executive reveals how Facebook&#8217;s massive campaign to promote Free Basics in India was ultimately undone by a single click.
What Happened: In "Careless People," a memoir by former Facebook executive Sarah Wynn-Williams, the author said that the social media giant&#8217;s 2016 efforts to salvage its controversial Free Basics program in India were thwarted by a "low-ranking" official at the Telecom Regulatory Authority of India (TRAI), according to <a href="https://economictimes.indiatimes.com/news/new-updates/how-a-low-ranking-indian-official-outsmarted-tech-giant-mark-zuckerberg-and-his-facebook-team-with-just-a-click/articleshow/119098294.cms?from=mdr">a</a> report by the Economic Times.
"Mark [Zuckerberg] and some of the brightest tech minds in the world devoted months to this [outreach strategy], and some low-ranking official in India outfoxed them simply by clicking an opt-out box," Wynn-Williams writes in the book.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44207932/apple-delays-next-gen-siri-its-going-to-take-us-longer-than-we-thought-to-deliver-ai-upgrades" target="_blank" rel="noreferrer noopener">Apple Delays Next-Gen Siri: ‘It&#8217;s Going To Take Us Longer Than We Thought&#8217; To Deliver AI Upgrades</a>
At the time, Facebook (now Meta) had launched a massive lobbying and public relations push to save Free Basics, a program designed to offer limited internet access for free in emerging markets.
Critics argued it violated net neutrality by giving preferential treatment to certain websites and services.
According to the memoir, Facebook used its vast platform to prompt users in India to send nearly 16 million emails to TRAI in support of Free Basics, creating what Wynn-Williams describes as "the appearance of public support."
The campaign backfired when a TRAI official—reportedly someone responsible for managing the consultation inbox—simply "opted out of all emails from Facebook," effectively shutting down the company's most aggressive lobbying tool.
With the feedback mechanism disabled, the pressure campaign lost its leverage.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: The book also alleges that Facebook took extraordinary measures to exert influence, including hiring an "ex-police captain" willing to "go to jail in a clash between Facebook and the Indian government," should legal tensions escalate.
Wynn-Williams quotes former COO Sheryl Sandberg in an internal email, saying, "We're lucky this is happening in a place where we have very deep senior relationships in the government, but it's still going to be hard."
Free Basics was ultimately banned in India for violating net neutrality principles.
Meta has previously denied the claims in the book, calling them "out-of-date and previously reported."
Last week, Meta won an emergency legal ruling to <a href="https://in.benzinga.com/25/03/44294128/meta-silences-whistleblower-who-worked-with-mark-zuckerberg-and-sheryl-sandberg-book-alleges-harassment-and-shady-china-strategy">block the promotion</a> of the memoir by Wynn-Williams. The book also alleges that the company ignored sexual harassment complaints and quietly developed censorship tools for China.
Price Action: Meta&#8217;s stock ended Friday's regular session at $607.60, gaining 2.96%. However, in after-hours trading, it dipped 0.41%. So far this year, the stock has risen 1.40%, and over the past 12 months, it has surged 22.26%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/25/02/44055314/mrbeast-lost-millions-on-amazons-beast-games-now-hes-looking-to-raise-hundreds-of-millions-to-take-h" target="_blank" rel="noreferrer noopener">MrBeast Lost Millions On Amazon's ‘Beast Games'—Now He's Looking To Raise Hundreds Of Millions To Take His Brand To The Next Level</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Media

Meta Whistleblower Reveals How A 'Low-Ranking' Indian Official Outsmarted Mark Zuckerberg And Crushed Facebook's Free Basics With One Single Click

Baird analyst David Koning upgrades Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) from Neutral to Outperform and maintains the price target from $390 to $390.

Baird Upgrades Accenture to Outperform, Maintains Price Target to $390

Getty Images Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) will release its fourth-quarter financial results, after the closing <a href="https://www.benzinga.com/quote/GETY/earnings">bell, on Monday, March 17.</a>
Analysts expect the Seattle, Washington-based company to report quarterly earnings at 4 cents per share, up from 3 cents per share in the year-ago period. Getty Images projects quarterly revenue of $246.31 million, compared to $225.94 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 10, Getty Images signed a multi-year photography partnership with the National Women&#8217;s Soccer League.
Getty Images shares gained 2% to close at $2.04 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/gety/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Benchmark analyst Mark Zgutowicz reiterated a Buy rating with a price target of $6 on Jan. 10, 2025. This analyst has an accuracy rate of 63%.</li>
<li>Citigroup analyst Ronald Josey maintained a Buy rating and cut the price target from $6 to $5 on Aug. 13, 2024. This analyst has an accuracy rate of 72%.</li>
<li>Wedbush analyst Michael Pachter reiterated an Outperform rating with a price target of $7.7 on May 10, 2024. This analyst has an accuracy rate of 69%.</li>
</ul>
Considering buying GETY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="588" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/16043142/image-129-1024x588.png" alt="" class="wp-image-826049" style="width:582px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/16043142/image-129-1024x588.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/16043142/image-129-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/16043142/image-129-768x441.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/16043142/image-129.png 1123w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next:<a href="https://www.benzinga.com/25/03/44326690/top-3-materials-stocks-that-may-collapse-in-march"> </a>
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Top Wall Street Forecasters Revamp Getty Images Price Expectations Ahead Of Q4 Earnings

Eneboparatide was well tolerated. After the 24-week randomized treatment period, all patients receive eneboparatide in the ongoing long-term extension period until 52 weeks. Full efficacy and safety data will be analyzed at 52 weeks. Alexion plans to share these data with global health authorities and present them at forthcoming medical meetings.
 &nbsp;

Large Cap

The European Union Has Approved AstraZeneca's Imfinzi (Durvalumab) As Monotherapy For Limited-stage Small Cell Lung Cancer Whose Disease Has Not Progressed Following Platinum-based Chemoradiation Therapy

-Wall Street Journal Citing Interview

UBER

WeRide CEO Said Aims To Grow Fleet To Over 5,000 Robotaxis Within Next Three Years; Said To Partner With Uber On Launch Of Robotaxis in Abu Dhabi

Piper Sandler analyst Clarke Jeffries maintains EverCommerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVCM#NASDAQ">EVCM</a>) with a Neutral and lowers the price target from $11 to $9.

EVCM

Piper Sandler Maintains Neutral on EverCommerce, Lowers Price Target to $9

The primary endpoint is a composite of normalization of albumin-adjusted serum calcium levels and independence from active vitamin D and oral calcium therapy.
Eneboparatide was well tolerated. After the 24-week randomised treatment period, all patients receive eneboparatide in the ongoing long-term extension period until 52 weeks. Full efficacy and safety data will be analysed at 52 weeks. Alexion plans to share these data with global health authorities and present them at forthcoming medical meetings.
 &nbsp;

AstraZeneca Released High-level Results From CALYPSO Phase 3 Trial Showing That Eneboparatide (AZP-3601) Met Its Primary Endpoint With Statistical Significance In Adults With Chronic Hypoparathyroidism At 24 Weeks, Compared To Placebo

Alteogen Will Be Responsible For Clinical And Commercial Supply Of ALT-B4 To AstraZeneca
AstraZeneca will make an upfront payment to Alteogen and additional payments upon achievement of specific development, regulatory and sales-related milestones. Additionally, Alteogen will receive royalties on the sales of the commercialised products.
The transaction does not impact AstraZeneca's financial guidance for 2025. &nbsp;

Contracts

AstraZeneca And Alteogen Have Entered Into An Exclusive License Agreement, AstraZeneca Will Acquire Worldwide Rights To Use ALT-B4 To Develop And Commercialize Subcutaneous Formulations Of Several Oncology Assets

The recent downturn in Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value has significantly affected the unrealized gains of Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), which has made substantial investments in the cryptocurrency.
What Happened: Strategy&#8217;s paper profits have taken a hit and slipped below $9 billion as Bitcoin struggles to break through key resistance levels, as per a report <a href="https://www.tokenpost.com/news/business/14434">by</a> The Tokenpost. The company&#8217;s total Bitcoin holdings are now worth less than before, leading to questions about the viability of its investment approach. In November, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41874605/michael-saylors-microstrategy-racks-up-over-10b-in-unrealized-profit-as-bitcoin-blows-past-82k'">the firm gained over </a>$10 billion in profit from its Bitcoin investments.
Since 2020, Strategy has been proactively adding Bitcoin to its treasury, buying the asset at various price levels, including near record highs.&nbsp;However, the company&#8217;s holdings have come under pressure due to the recent market downturn. With Bitcoin currently trading below $84,000, Strategy&#8217;s recent acquisitions have not produced the anticipated returns.
This situation has raised concerns about the company&#8217;s method&nbsp;of using new stock offerings&nbsp;to purchase more Bitcoin. Although Bitcoin has shown some recovery, its inability to surpass the critical resistance level of $87,000 keeps Strategy&#8217;s holdings under pressure.
SEE ALSO: <a href="https://www.benzinga.com/general/entertainment/25/03/44319045/jeff-bezos-is-genius-who-helped-benefit-himself-and-the-world-with-amazon-vc-says-the-beneficiary-is-the-consumer">Jeff Bezos Is Genius Who Helped Benefit Himself And The World With Amazon, VC Says: &#8216;The Beneficiary Is The Consumer&#8217;</a>
Why It Matters: The recent dip in Bitcoin&#8217;s price <a href="https://www.benzinga.com/25/03/44349226/bitcoin-ethereum-dogecoin-slid-ahead-of-feds-interest-rate-decision-analyst-predicts-8-btc-upside-if-it-breaks-through-this-pattern">comes ahead of</a> the Federal Reserve&#8217;s decision on interest rates. Leading cryptocurrencies experienced a drop as investors anticipated the Fed&#8217;s decision with Bitcoin witnessing a volatile Friday, fluctuating between $85,000 and $82,000. This context adds to the pressure on Strategy&#8217;s Bitcoin holdings and underscores the need for a potential shift in its investment strategy.
Despite the downturn, Strategy&#8217;s co-founder Michael Saylor stays bullish on Bitcoin. In his latest speech at the Bitcoin Policy Institute, Saylor stated that the cryptocurrency is critical to the prosperity of the U.S. and the nation can become the global Bitcoin superpower.
In another post on X, Saylor said, &#8220;Bitcoin is an Orange Dwarf— the brightest object in the financial system— growing stronger, hotter, and denser as it attracts capital.&#8221;
Meanwhile, cryptocurrency analyst Ali Martinez referred to $81,400 as a significant test for Bitcoin, stating that if the price stays above this level, its upward momentum will persist.
MSTR holds a momentum rating of 99.98% and a growth rating of 7.27%, according to&nbsp;<a href="https://www.benzinga.com/report/MSTR" target="_blank" rel="noreferrer noopener">Benzinga's Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock&#8217;s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44348135/shiba-inus-burn-rate-soars-removing-505-million-tokens-from-circulation">Shiba Inu&#8217;s Burn Rate Soars, Removing 505 Million Tokens From Circulation</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSTR

Strategy's Unrealized Gains Hit Hard Following Bitcoin's Price Slump

DXC Technology Selected By Parfois To Implement Advanced Data Intelligence Strategy

Piper Sandler analyst Clarke Jeffries reiterates Riskified (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSKD#NYSE">RSKD</a>) with a Overweight and maintains $7 price target.

Reiteration

RSKD

Piper Sandler Reiterates Overweight on Riskified, Maintains $7 Price Target

ANTE

AirNet Technology Announced The Execution Of A Non-binding Investment Letter Of Intent With LLP STH Corp, A Kazakstan Company

Press Releases

Qurate Retail Announces Semi-Annual Interest Payment and Regular Additional Distribution on 4.0% Senior Exchangeable Debentures Due 2029

Lumen Announces (1) Expiration and Results of Certain Previously-Announced Cash Tender Offers of Lumen and Level 3 and (2) Amendments to the Remaining Previously-Announced Cash Tender Offers to Increase the Tender Consideration and Extend the Expiration Time

Lumen Announces Expiration and Results of Any and All Cash Tender Offers for Unsecured 2028 Notes of Lumen and Level 3

Lumen Partners with Prometheus Hyperscale to Enhance Connectivity for Sustainable AI-Driven Data Centers

Lumen Technologies announces Q4 earnings release date

Lumen Technologies reports fourth quarter and full year 2024 results

Lumen Technologies to Attend Investor Conferences

Qurate Retail Announces Semi-Annual Interest Payment and Regular Additional Distribution on 3.75% Senior Exchangeable Debentures Due 2030

Lumen Selects Ciena Optical Tech to Support AI Workloads

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