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Nykode Therapeutics AS is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunotherapies. The company is developing individualized cancer neoantigen vaccines and is using the Vaccibody technology to generate therapeutics to treat cancers with a high unmet medical need.

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Nykode Therapeutics AS

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is set to equip its entire <a href="https://www.benzinga.com/topic/iphone-17">iPhone 17 lineup</a> with LTPO panels, exclusively sourced from Samsung Display and LG Display.
What Happened: The forthcoming iPhone 17 series, expected to launch next year, will consist of four models: iPhone 17, iPhone 17 Slim (or Air), iPhone 17 Pro, and iPhone 17 Pro Max.
This marks a notable change from the iPhone 16 series, where only the Pro and Pro Max models featured LTPO panels, according <a href="https://www.etnews.com/20241025000142">to</a> a report by ETNews.
LTPO technology, renowned for its energy efficiency, will now be standard across all iPhone 17 models, enhancing overall performance. This will also allow Apple to offer high refresh rates, a feature that has so far been limited to the "Pro" iPhone models.
Previously, only the premium models utilized LTPO OLEDs, while standard models relied on LTPS panels.
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The inclusion of LTPO in all iPhone 17 models is expected to solidify the dominance of Korean display companies in supplying OLED panels for Apple&#8217;s latest series. The complexity of LTPO technology poses a significant challenge for Chinese firms, which have faced quality issues in LTPS panel production.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings</a>
Industry insiders suggest that the likelihood of Chinese companies supplying LTPO panels next year is nearly zero. Instead, these companies may focus on producing panels for the upcoming iPhone SE4, expected in the first half of the year.
Why It Matters: The shift to LTPO panels across the entire iPhone 17 lineup is part of Apple&#8217;s strategy to enhance its product offerings.
According to noted Apple analyst Ming-Chi Kuo, the <a href="https://www.benzinga.com/markets/equities/24/08/40617644/iphone-17-pro-max-to-feature-12gb-dram-and-upgraded-cooling-system-says-prominent-apple-tipster-">iPhone 17 Pro Max will feature 12GB DRAM</a>, with other models like the ultra-thin iPhone, iPhone 17, iPhone 17 Pro, and SE4 having 8GB. Enhanced AI capabilities are expected to be a major selling point for the iPhone 17 Pro Max.
Additionally, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40332493/apples-thinner-iphone-17-air-with-sleeker-design-could-be-a-game-changer-says-promi">Apple&#8217;s iPhone 17 Air</a> is rumored to have a sleeker design, potentially attracting more customers to upgrade their devices.
Gene Munster, managing partner at Deepwater Asset Management, believes that Apple&#8217;s biggest iPhone upgrade cycles have coincided with noticeable design changes, suggesting that the thinner iPhone could be a successful hardware refresh for the company.
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>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

News

Tech

AAPL

Apple's iPhone 17 Base Models Could Finally Get This Highly Requested 'Pro' Feature

Pittsburgh-based autonomous vehicle technology <a href="https://www.benzinga.com/quote/AUR/analyst-ratings">startup</a> Aurora Innovation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) said earlier this week that it is now looking to deploy its autonomous trucks in commercial operations in April 2025, later than expected, as it needs more time to validate the safety of its autonomous driving technology on public roads.
What Happened: &#8220;With additional visibility on the time needed to complete the aforementioned remaining validation, we now expect to launch commercially in April 2025,&#8221; company CEO Chris Urmson said in a letter to shareholders.
&#8220;While this is modestly later than we had intended, this timing remains within the margin of error we have anticipated and conveyed throughout 2024.&#8221;
The delay will have a negligible financial impact, Urmson added.
The company will deploy up to 10 driverless trucks in commercial operations during launch. The company will start with one driverless truck and then transition the others to driverless, it said.
By 2025 end, the company intends to have tens of trucks in operations.
Why It Matters: Aurora is currently hauling freight autonomously for pilot customers including FedEx, Schneider, Hirschback, Uber Freight, and others. As of Oct. 27, the company has autonomously delivered over 8,200 loads, driving over 2.2 million commercial miles, it said. However, the rides were all supervised by vehicle operators, the company said.
For the third quarter, the company reported a net loss of $208 million, up from the loss of $190 million recorded in the corresponding period last year. The company has yet to generate revenue. 
Aurora raised $483 million in August, adding to its $1 billion of liquidity as of the end of the second quarter. The liquidity will support the company&#8217;s planned commercial launch and operations well into 2026, the company then said. 
Price Action: Aurora Innovation shares closed 11.8% higher at $5.81 on Friday. The stock is up by about 56% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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<li><a href="https://www.benzinga.com/news/24/11/41699028/tesla-investor-says-ev-giant-will-admit-it-needs-lidar-despite-elon-musk-calling-it-a-crutch">Tesla Investor Says EV Giant Will &#8216;Admit&#8217; It Needs Lidar Despite Elon Musk Calling It A Crutch</a></li>
</ul>
Photo courtesy: Aurora Innovation

Autonomous Vehicle Startup Aurora Pushes Back Commecial Launch Of Driverless Trucks To 2025

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is poised to replace Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) on the Dow Jones Industrial Average index.
What Happened: On Friday, S&amp;P Dow Jones Indices announced that Nvidia, along with paint-maker Sherwin-Williams Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>),&nbsp;will join the index next&nbsp;week.
Intel will be replaced by Nvidia on the Dow Jones Industrial Average index after a 25-year run, while Sherwin-Williams will replace Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>).
This change highlights&nbsp;the shift in the chipmaking&nbsp;market and is another blow for Intel, which has seen a decline in its market position.
Intel&#8217;s shares have dropped 54% this year, making it the worst performer on the index and leaving it with the lowest stock price on the price-weighted Dow.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">Intel Says It Won&#8217;t Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake &#8216;Slower Than We Anticipated&#8217;</a>
&#8220;Losing the status of Dow Jones inclusion would be another reputational blow for Intel, as it grapples with a painful transformation and loss of confidence,&#8221; said Susannah Streeter, head of money and markets at Hargreaves Lansdown, reported Reuters.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Intel, once a dominant player in the chipmaking industry, has lost its manufacturing edge to rival Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and missed out on the lucrative artificial intelligence boom.
This development comes&nbsp;after Intel expressed optimism about&nbsp;its future, despite&nbsp;warning that it had &#8220;a&nbsp;lot of work to do.&#8221;&nbsp;Intel&#8217;s struggles were evident in its <a href="https://www.benzinga.com/news/24/11/41689889/whats-going-on-with-intel-shares-friday">third-quarter earnings report</a>, where it reported a loss of 46 cents per share, missing analyst estimates.
Intel&#8217;s&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41691058/intel-struggles-with-market-share-profitability-q3-analyst-insights">struggles with market share and profitability</a>&nbsp;have led to a cautious outlook from analysts. The company also&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">fell short of its revenue targets</a>&nbsp;for its Gaudi AI accelerator program in 2024.
On the other hand,&nbsp;Nvidia has emerged as a&nbsp;cornerstone of the global semiconductor&nbsp;industry, thanks to the essential&nbsp;role its chips play in&nbsp;powering generative AI technologies.&nbsp;The company&#8217;s shares have risen&nbsp;more than two-fold this year alone.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Markets

INTC

NVDA

Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run

A prominent crypto analyst has forecasted a potential surge for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in November, sparking interest among traders and investors.
What Happened: Popular crypto analyst Ali Martinez has shared insights suggesting that Dogecoin might experience a significant upward trend this month. In a recent strategy session with his 76,400 followers on X, Martinez highlighted historical patterns indicating a potential rally for the meme coin.
Martinez notes that November often brings substantial growth for Dogecoin.
"History hints that November could spark a parabolic bull run for #Dogecoin $DOGE! Keep an eye out for a sustained close above $0.20."
Dogecoin is trading at approximately $0.161, having gained over 0.8% in the last 24 hours. It has surged over 20% over the past week.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">History hints that November could spark a parabolic bull run for <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>! Keep an eye out for a sustained close above $0.20. <a href="https://t.co/8NOLo6Jjoh">pic.twitter.com/8NOLo6Jjoh</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1851603207530918103?ref_src=twsrc%5Etfw">October 30, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41575679/chamath-palihapitiya-says-gen-z-has-decoupled-financial-freedom-from-traditional-9-5-jobs-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chamath Palihapitiya Says Gen-Z Has &#8216;Decoupled&#8217; Financial Freedom From Traditional 9-5 Jobs</a>
In addition to Dogecoin, Martinez is optimistic about other large-cap altcoins, including Polkadot (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/dot/usd">DOT</a>). He suggests that DOT could surpass $6.00 by year-end, with its current trading price at $3.92.
Martinez also mentions that the Solana (SOL)&#8211;based memecoin Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) is gearing up for a bullish move to $3, currently trading at $2.21.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogwifhat?src=hash&amp;ref_src=twsrc%5Etfw">#Dogwifhat</a> <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> prepares for a bullish breakout toward $3! <a href="https://t.co/YC1FAwyOHS">pic.twitter.com/YC1FAwyOHS</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1851894232539423163?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
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Why It Matters: The recent dip in Dogecoin&#8217;s price has led traders to identify critical support zones for potential rebounds.
A <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41688358/dogecoin-dips-but-traders-identify-this-critical-support-zone-for-a-bounce">&#8220;cup and handle&#8221; formation</a> on Dogecoin's daily chart, starting in June, suggests bullish potential. The $0.15 support zone is crucial, with a possible bounce propelling DOGE to $0.22.
Moreover, the cryptocurrency industry is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41650250/harris-vs-trump-crypto-industry-anticipates-favorable-regulatory-environment-for-bi">anticipating a favorable regulatory environment</a> following the U.S. presidential elections. Industry leaders are hopeful for supportive policies from Washington, regardless of the election outcome. This optimism could further influence the crypto market, including Dogecoin&#8217;s performance.
Price Action: At the time of writing, Dogecoin was up 0.2% over the last 24 hours, trading at $0.161, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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

Cryptocurrency

$DOGE

$DOT

$WIF

DOGE

Dogecoin Set For 'Parabolic Bull Run' In November, Says Analyst: 'Keep An Eye Out For A Sustained Close' Above This Level

Office of the Director of National Intelligence (ODNI,) the Federal Bureau of Investigation (FBI,) and the Cybersecurity and Infrastructure Security Agency (CISA) have traced a video falsely portraying voter fraud in Georgia back to Russian influence actors, days ahead of the <a href="https://www.benzinga.com/topic/2024-election">2024 election</a>.
What Happened: A 20-second video emerged on X, formerly known as Twitter, Thursday afternoon, showing a man claiming to be a Haitian immigrant.
In the clip, he discussed his intention to vote multiple times in two Georgia counties for Vice President and Democratic presidential nominee Kamala Harris.
On Friday, the U.S. intelligence agencies identified this video as a fraudulent creation of Russian influence actors.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch</a>
&#8220;This Russian activity is part of Moscow's broader effort to raise unfounded questions about the integrity of the U.S. election and stoke divisions among Americans,&#8221; the joint statement by the agencies read.
Previously, Georgia Secretary of State&nbsp;Brad Raffensperger&nbsp;dismissed the video as &#8220;obviously fake&#8221; and a likely product of Russian trolls &#8220;attempting&nbsp;to sow discord and chaos&nbsp;on the eve of the&nbsp;election,&#8221; <a href="https://apnews.com/article/fbi-russia-georgia-fraud-disinformation-eebea4ab200682ccd3e97fb9f164e6ca">reported</a> the Associated Press. 
Why It Matters: This incident is not an isolated one. It is part of a larger pattern of foreign interference in U.S. elections.
In September, President Joe Biden accused <a href="https://www.benzinga.com/government/24/09/40713107/biden-to-accuse-russia-of-2024-election-interference-expert-says-voting-process-tough-to-tamper-with">Russia of seeking to interfere</a> with the 2024 election. Later that month, Microsoft Corp. vice chair and president, Brad Smith, warned of potential <a href="https://www.benzinga.com/24/09/40931276/this-has-also-become-an-election-of-iran-vs-trump-and-russia-vs-harris-microsoft-president-brad-smit">foreign interference</a> in the upcoming election.
Last month, the&nbsp;<a href="https://www.benzinga.com/news/24/10/41417457/us-offers-10m-reward-for-intel-on-russian-firm-interfering-in-elections">U.S. Department of State offered a $10 million reward</a>&nbsp;for information on any foreign person or entity interfering in the 2024 U.S. presidential election.
Around the same time,&nbsp;Microsoft further reported&nbsp;that Russia, Iran, and China were <a href="https://www.benzinga.com/general/politics/24/10/41496316/microsoft-reports-russia-iran-china-stepping-up-efforts-to-influence-2024-election-voters-candid">stepping up their attempts</a> to influence the outcome of the 2024 presidential election.
Previously, it was also reported that <a href="https://www.benzinga.com/news/24/10/41541512/iranian-hackers-leak-stolen-emails-from-trumps-2024-campaign-ahead-of-nov-5-election-report">Iranian hackers leaked stolen emails</a> from Republican nominee Donald Trump's presidential campaign to a Democratic political operative and independent journalists.
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Intel Says It Won&#8217;t Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake &#8216;Slower Than We Anticipated&#8217;</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

Politics

FBI Uncovers Russian-Backed Scheme To Sway 2024 Election And 'Stoke Divisions Among Americans' With Fake Voter Fraud Video In Georgia

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will admit they need Lidar to enable autonomous driving &#8220;at some point, &#8221; according to Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management.
What Happened: &#8220;At some point they will admit they need LiDAR,&#8221; Gerber wrote on social media platform X, referring to the EV giant&#8217;s intent of enabling autonomous driving with cameras and artificial intelligence alone.
Lidar, short for Light Detection and Ranging, is a remote sensing technology that uses laser light to measure distances and create detailed three-dimensional representations of surfaces and objects.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At some point they will admit they need LiDAR. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://twitter.com/hashtag/tesla?src=hash&amp;ref_src=twsrc%5Etfw">#tesla</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1852370714629992938?ref_src=twsrc%5Etfw">November 1, 2024</a></blockquote>
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Tesla CEO Elon Musk has previously criticized Lidar, terming it a crutch. None of the company&#8217;s sold vehicles have lidars. In 2022, the company also removed ultrasonic sensors from its vehicles to rely solely on cameras.
&#8220;Did my best to warn people that LiDAR isn't optimal for cars. Roads are designed for biological neural nets &amp; eyes, so digital neural nets &amp; cameras will work best,&#8221; Musk said in Aug. 2023. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Did my best to warn people that LiDAR isn't optimal for cars. Roads are designed for biological neural nets &amp; eyes, so digital neural nets &amp; cameras will work best. I say this even though Dragon uses LiDAR for docking with Station, so I don't intrinsically hate that technology.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1696119334018457949?ref_src=twsrc%5Etfw">August 28, 2023</a></blockquote>
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Gerber is not alone in feeling Tesla needs more hardware to enable autonomous driving. 
"…you really do need significantly more hardware than Tesla is putting in the vehicles to build a robotaxi that's not just as safe but especially safer than a human," Zoox&nbsp;co-founder&nbsp;Jesse Levinson opined earlier this week while adding that there is a need for sensor data despite advancements in AI to protect against camera malfunctions and ensure fully safe rides.
Alphabet Inc.&#8217;s autonomous ride-hail company Waymo continues to use Lidar in its robotaxis. However, proponents of Tesla&#8217;s camera-only technology, such as Ark Invest, deem it to be an expensive choice.
According to <a href="https://www.benzinga.com/news/24/11/41676465/tesla-can-make-cybercab-for-the-same-money-it-takes-waymo-to-install-lidar-sensors-on-its-robotaxi-s">Ark Invest analyst</a> Brett Winton, Tesla can make its dedicated robotaxi offering &#8211; the Cybercab &#8211; at almost the same cost as it takes Waymo to install Lidar on its vehicles.
Uber CEO Dara Khosrowshahi, meanwhile, believes both Waymo and Tesla will achieve autonomy at scale despite differences in approach. While Waymo's tech reduces the effort on the software with added hardware such as lidar and sensors, Tesla's model puts added weight on the software, he said.
"I think Elon eventually will get to viable scale but for the next 5 years I bet on Waymo," <a href="https://www.benzinga.com/news/24/10/41424058/uber-ceo-dara-khosrowshahi-finds-elon-musks-robotaxi-vision-pretty-compelling-says-tesla-will-eventu">he said in an interview</a> last month.
Why It Matters:&nbsp;During Tesla's third-quarter earnings call last month, Musk said that the company expects to start an autonomous ride-hail service in Texas and California starting next year,&nbsp;<a href="https://www.benzinga.com/news/24/10/41484511/palo-alto-may-open-streets-to-tesla-robotaxis-but-california-regulators-will-decide-fate" target="_blank" rel="noreferrer noopener">subject to regulatory approval</a>.
However, the vehicles might not all operate as driverless robotaxis initially but with a driver as some states demand it until the company touches certain milestones in terms of miles and hours driven, the company then said.
However, Musk expressed confidence that the <a href="https://www.benzinga.com/top-stories/24/10/41279865/elon-musk-may-unveil-teslas-robotaxi-but-consumers-respond-with-ehhh-new-study-reveals-skepticism-ne" target="_blank" rel="noreferrer noopener">company will begin offering driverless paid rides sometime next year.</a>
Tesla also unveiled a no-pedal, no-steering wheel <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">dedicated robotaxi product last month called the Cybercab</a>. Cybercab, Musk then said, will enter production &#8220;before 2027&#8221; and will be priced below $30,000.
Until then, Tesla's ride-hail fleet will be composed of the company&#8217;s Model 3 and Model Y with its full self-driving (FSD) driver assistance technology.
FSD currently requires active river supervision. However, Musk and Tesla are optimistic that it will enable vehicle autonomy with future versions of the software. 
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>
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Photo courtesy: Unsplash

TSLA

Tesla Investor Says EV Giant Will 'Admit' It Needs Lidar Despite Elon Musk Calling It A Crutch

Tesla and SpaceX CEO Elon Musk&#8217;s social media platform X, formerly Twitter, is reportedly undergoing another round of layoffs.
What Happened: X is experiencing a fresh wave of layoffs with the engineering department said to be the most affected, <a href="https://www.theverge.com/2024/11/1/24285819/elon-musks-x-is-laying-off-employees-again">reported</a> The Verge on Friday, citing two insider sources and posts on the anonymous workplace forum Blind.
However, the exact number of job cuts is yet to be determined.
The layoffs followed an unusual request made to employees two months prior when staff members were asked to submit a one-page summary detailing their contributions to the company.
It remains uncertain whether these summaries influenced the recent job cuts.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: After acquiring Twitter for $44 billion in October 2022, Musk <a href="https://www.benzinga.com/news/23/09/34429260/when-elon-musk-started-firing-twitter-staff-everybody-said-thats-enough-but">controversially fired 85% of the staff</a>. Currently, the value of Musk&#8217;s rebranded social media platform has been a point of concern.
Fidelity, one of the companies that helped Musk acquire the platform, last month <a href="https://www.benzinga.com/news/24/10/41142828/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b">valued the social media network</a> below $10 billion, a significant drop from the price Musk paid for it.
Earlier this year, Musk&#8217;s other venture, Tesla, also saw significant layoffs. The electric vehicle manufacturer reduced <a href="https://www.benzinga.com/top-stories/24/06/39457749/tesla-leads-2024-us-tech-layoffs-so-far-followed-by-dell-cisco-xerox-paypal-microsoft">its workforce by at least 14%</a>.
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Social Media

Media

Elon Musk's X Reportedly Hit With New Wave Of Layoffs: Engineering Department Faces Major Cuts Amid Uncertain Future

Donald Trump&nbsp;supported decentralized finance protocol&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">World Liberty Financial</a> is reportedly marketing its $300 million offering of tokens primarily offshore.
What Happened: World Liberty currently plans to sell only $30 million of tokens in the U.S., according <a href="https://www.bloomberg.com/news/articles/2024-11-01/trump-s-world-liberty-to-mainly-sell-digital-tokens-to-investors-outside-the-us">to</a> a Bloomberg report, which cited a filing with the U.S. Securities and Exchange Commission (SEC.)
Once it touches the $30 million threshold, World Liberty will terminate the U.S. offering despite having tokens worth about $288.5 million available for sale, the report said, noting that most token issuances are done offshore due to heavy scrutiny in the U.S.
World Liberty is being promoted by Trump and his sons. <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303639/donald-trump-says-his-crypto-project-world-liberty-financial-will-start-selling-tokens-on-">Since Oct. 15</a>, it has raised about $2.7 million by selling tokens to 348 U.S. investors, according to the filing.
Why It Matters: World Liberty is based in <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41341588/donald-trumps-world-liberty-financial-token-sales-hit-220m-in-first-hour-website-faces-mul">Wilmington, Delaware</a>. In the filing with the SEC, Donald Trump, Donald (Jr) Trump, Eric Trump, Steven Witkoff, Axiom Management Group, WC DigitalFi LLC, and DT Marks DEFI LLC are listed as promoters of the project. 
&#8220;This person is included for informational purposes and does not reflect a determination that such person is a &#8220;promoter&#8221; as defined under Rule 405 of the Securities Act,&#8221; the filing said. 
Puerto Rico-based Axiom Management Group owners Zachary Folkman and Chase Herro, meanwhile, are listed as executive officers and directors of the project. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Trump's World Liberty Crypto Project Targets Offshore Markets, Limits US Token Offering To Just $30M

Elon Musk on Friday said that he would like former congressman from Texas Ron Paul to be on the Department of Government Efficiency, a department he intends to be part of if former President Donald Trump reclaims the White House in the <a href="https://www.benzinga.com/topic/2024-election">upcoming elections</a>.
What Happened: &#8220;Would be great to have Ron Paul as part of the Department of Government Efficiency!,&#8221; Musk wrote on social media platform X.
<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">Would be great to have Ron Paul as part of the Department of Government Efficiency!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1852472973728338409?ref_src=twsrc%5Etfw">November 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk&#8217;s comment comes on the heels of Paul expressing his willingness to help Musk cut government spending in an interview with podcaster David Gornoski. However, the former member of the U.S. House of Representatives said that he wouldn&#8217;t want an official position.
Paul has previously run twice for the Republican presidential nomination. 
Why It Matters: Musk officially endorsed Trump in July after a shooting incident at a rally in Pennsylvania. The billionaire also <a href="https://www.benzinga.com/news/24/10/41197236/elon-musk-and-trump-address-thousands-at-site-of-failed-assassination-attempt-take-aim-at-bidens-lea">attended a Trump campaign event in Pennsylvania</a> in October and termed the election a "must-win situation" for Trump.
Trump, meanwhile, has expressed his intent to set up a&nbsp;<a href="https://www.benzinga.com/government/24/09/40739165/trump-plans-to-appoint-elon-musk-to-government-efficiency-commission-if-elected-tesla-ceo-says-hell" target="_blank" rel="noreferrer noopener">government efficiency commission</a>&nbsp;led by Musk if elected President. The commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending reforms, Trump said in September.
Musk has previously said that the commission will also be aimed at removing what he deems as excess regulation in a bid to kickstart key projects such as building high-speed rail in the country.
Musk is actively gathering votes for Trump both online and offline. He founded a super PAC called America PAC to which he has so far given <a href="https://www.benzinga.com/news/24/10/41417390/elon-musks-pro-trump-super-pac-to-give-1m-every-day-to-people-in-swing-states-for-signing-his-petiti">over $100 million</a> in a bid to support Trump&#8217;s presidential campaign, cementing him as a key figure in this year&#8217;s election. 
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>
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Photos courtesy: Shutterstock and Gage Skidmore on Flickr

Elon Musk Says 'Would Be Great To Have' Former Congressman And Fed Critic Ron Paul In 'Department Of Government Efficiency' If Trump Wins

Kamala Harris&#8216;s campaign and Democratic Party officials &#8220;fully expect&#8221; a premature victory declaration by Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">upcoming election</a> and are reportedly preparing for a swift response.
What Happened: Democrats are ready&nbsp;to flood social media and&nbsp;television with calls for patience and calm during the vote-counting process, reported Reuters.
This is in response to Trump&#8217;s statement expressing his intention&nbsp;to declare victory on Election&nbsp;Day, despite warnings from election experts that the final result could take several days, especially if vote recounts are demanded in key areas.
See Also:&nbsp;<a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares &#8216;Worthless&#8217;</a>
&#8220;We are sadly ready if&nbsp;he does and, if we&nbsp;know that he is actually&nbsp;manipulating the press and attempting&nbsp;to manipulate the consensus of&nbsp;the American people &#8230; we&nbsp;are prepared to respond,&#8221; Harris&nbsp;stated in a Wednesday interview with ABC.
Democratic Party and campaign officials plan to wage their initial fight against any premature Trump victory claim&nbsp;in the court of public&nbsp;opinion, demanding&nbsp;that all votes be counted&nbsp;before victories are declared.
&#8220;As soon as he (Trump) falsely declares victory, we&#8217;re ready to get up on TV and provide the truth and tap a broad network of people who can use their influence to push back,&#8221; a senior Democratic National Committee official stated in an interview.
Why It Matters: In 2020, <a href="https://www.benzinga.com/news/23/08/33545892/trump-knew-he-lost-2020-election-to-biden-says-former-ag-barr-it-would-not-come-out-very-well-for-hi">Trump declared victory</a> early the morning after Election Day, three days before networks officially called the race. Though he ultimately lost to Joe Biden, he has continued to falsely claim the election was stolen through widespread fraud.
Meanwhile, the 2024 U.S. presidential race has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41687739/nate-silver-says-kamala-harris-may-need-backup-plans-if-the-blue-wal-is-split-but-sees-the">described as &#8220;a near coin flip,&#8221;</a> with Trump narrowly leading Harris, said American statistician and writer&nbsp;Nate Silver on Friday.
Previously, it was reported that <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41576378/donald-trumps-election-odds-improve-to-66-after-viral-joe-rogan-podcast-and-controversial-">Trump&#8217;s election odds have improved</a> to 66% after a viral Joe Rogan podcast and a controversial Madison Square Garden rally, as per&nbsp;Polymarket odds.
However, former GOP strategist Stuart Stevens has forecasted a decisive victory for Harris, predicting her to win by an even larger margin than in 2020.
As the U.S. heads into the elections, economists warn that a <a href="https://www.benzinga.com/government/24/11/41695926/a-republican-sweep-might-be-the-most-inflationary-election-outcome-economists-warn">Republican victory could significantly</a> increase inflationary pressures, primarily from higher tariffs, a swelling budget deficit, and restricted immigration policies.
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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.
Photos courtesy: Shutterstock

Kamala Harris 'Ready' If Trump Decides To 'Falsely' Declare Victory: 'We Are Prepared To Respond'

First-time homebuyers are gaining ground in unexpected territory, with Rhode Island leading a wave of Northeastern and Midwestern states where new buyers are claiming a growing share of home sales.
According to data issued by Freddie Mac initially cited by Realtor.com, Rhode Island topped the nation with a 14.3% increase in first-time buyer market share from 2019 through 2024, despite the state&#8217;s median listing price of $569,950 sitting well above the national average of $425,000.
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The trend extends throughout the region, with Iowa, Nebraska, Wisconsin, and Connecticut all seeing first-time buyer shares climb by more than 10% over the same period.
The shift comes as first-time buyers now account for more than half of conventional conforming mortgages nationwide, up from 20% in 2004, according to Freddie Mac&#8217;s latest market outlook report.
The surge in new buyers appears strongest in areas with moderate or slower overall sales activity. Meanwhile, popular retirement destinations like Arizona and Florida saw smaller gains in first-time buyer share, likely due to competition from older Americans moving to these regions.
Only two states bucked the trend entirely, with Louisiana and North Dakota seeing slight declines in first-time buyer share over the past five years.
See Also: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
The broader picture remains challenging for new buyers. When including cash sales and unconventional loans, first-time buyers made up just 26% of all existing home sales last month, according to the National Association of Realtors — matching historic lows seen in recent months.
<a href="https://www.benzinga.com/real-estate/24/09/40771559/average-american-cant-afford-starter-homes-20k-above-their-budget-warns-real-estate-analyst">New buyers are facing significant headwinds</a>. Entry-level home prices have grown 63% more than high-end home prices since 2000, according to Freddie Mac&#8217;s analysis. The supply crunch is equally severe, with approximately 30 renter households competing for each available home for sale, up from fewer than 10 in 2006.
&#8220;Less affordable housing is acutely felt by those seeking to buy their first homes, especially those without substantial wealth at their disposal,&#8221; Freddie Mac&#8217;s report says.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today. </a>Behind the regional shift lies a demographic wave, with Millennials and the oldest members of Generation Z becoming a force in the housing market. Data from Freddie Mac shows that young adult renters are earning more than in previous years, with three million renter households between ages 25 and 44 now earning at least $75,000 annually in inflation-adjusted terms.
However, economic headwinds are mounting for those potential buyers. The unemployment rate for renters has climbed from 5% to over 6% since 2023 while remaining stable for homeowners. It's a disparity that could impact future first-time buyer activity, as most future buyers are currently renting.
Freddie Mac is responding to the challenges. In the second quarter of this year alone, the organization financed roughly 200,000 primary home purchases, with first-time buyers accounting for 53% of the transactions. The agency has also launched a new platform to help potential buyers connect with down payment assistance programs through their lenders.
The findings come as the housing market grapples with high mortgage rates and tight inventory, creating <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-">some of the toughest conditions on record for aspiring homeowners</a>.
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Real Estate

Realtor.com Trends Reveal Millennials Are Making Gains In Surprising States As First-Time Homebuyers Surge

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

South Bow Corp. ((TSX &amp;, NYSE:<a href="https://www.benzinga.com/stock/SOBO#NYSE">SOBO</a>) has received an unsolicited "mini-tender" offer from TRC Capital Investment Corp. (TRC Capital) to purchase up to 3 million South Bow common shares, or approximately 1.4% of South Bow's outstanding common shares, at a below-market price of C$31.95. South Bow does not endorse TRC Capital's unsolicited offer, has no affiliation with TRC Capital or its offer, and does not recommend or endorse this unsolicited mini-tender offer.
South Bow cautions shareholders that the mini-tender offer has been made at a below-market price for the South Bow common shares. TRC Capital's unsolicited offer price of C$31.95 per share represents a discount of 4.6% to the closing price of the South Bow common shares on the Toronto Stock Exchange and the New York Stock Exchange on Oct. 28, 2024, the last trading day before the mini-tender offer was commenced, and a discount of 7.4% to the closing price on Nov. 1, 2024.

Management

SOBO

South Bow Recommends Shareholders Reject TRC Capital's Below-Market "Mini-tender" Offer To Purchase Up To 3M Shares, Or ~1.4% Of South Bow's Outstanding Common Shares, At A Price Of C$31.95 Per Share

As previously announced, on September 4, 2024, APX Acquisition Corp. I (NASDAQ:&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4293294-1&amp;h=2469645923&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fapx-acquisition-corp-i-receives-nasdaq-notice-on-late-filing-of-its-form-10-q-302023280.html%23financial-modal&amp;a=APXI">APXI</a>) (the "Company"), received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that since the Company's aggregate market value of its outstanding warrants was less than $1 million, the Company was no longer in compliance with the Nasdaq Global Market continued listing criteria set forth in Listing Rule 5452(b)(C) (the "Rule"), which requires the Company to maintain an aggregate market value of its outstanding warrants of at least $1 million (the "Notice"). The Company subsequently submitted a plan to regain compliance with the Rule (the "Compliance Plan").
On October 29, 2024, the Company received written notice from the Staff (the "November Notice"), stating that the Compliance Plan was not accepted as the Company had provided insufficient evidence to demonstrate that it can effect the Compliance Plan by its 36-month expiration date of December 6, 2024, at which time the Company's securities will be delisted from Nasdaq in accordance with IM-5101-2, irrespective of the Company's progress or lack thereof toward regaining compliance with the Rule, and that the Staff had determined to initiate procedures to delist the Company's warrants (and, as a result of the warrants' inclusion therein, the Company's units) from Nasdaq due to the Company's non-compliance.
Pursuant to the Notice, unless the Company requests a hearing to appeal this determination by November 5, 2024, the Company's warrants and units will be suspended at the opening of business on November 5, 2024, and a Form 25-NSE will be filed with the SEC, which will remove the Company's warrants and units from listing and registration on Nasdaq (the "Warrant/Unit Delisting"). The Company does not intend to request a hearing. The Warrant/Unit Delisting does not affect the listing or trading of the Company's Class A ordinary shares on the&nbsp;Nasdaq Global Market, other than those contained within the units.

APXI

APXIU

APXIW

APX Acquisition Corp. I Announces Nasdaq Delisting Notification For Warrants And Units

Four Corners Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCPT#NYSE">FCPT</a>), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Miller's Ale House property for $3.8 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long term, net lease with approximately 11 years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs.

FCPT

FCPT Announces Acquisition Of A Miller's Ale House Property For $3.8M

- ALX Oncology Holdings Inc., ("ALX Oncology" or "the Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXO#NASDAQ">ALXO</a>), a clinical-stage biotechnology company advancing therapies that boost the immune system to treat cancer in new ways and extend patients' lives, today announced that results from a Phase 1b/2 combination trial evaluating ALX Oncology's evorpacept in combination with Jazz Pharmaceuticals' zanidatamab in HER2-positive and HER2-low metastatic breast cancer have been accepted for a poster spotlight presentation at the San Antonio Breast Cancer Symposium (SABCS), which will be held in San Antonio, Texas, from December 10-13, 2024.
The Phase 1b/2 clinical trial is a two-part, open-label, multicenter study (<a href="https://www.globenewswire.com/Tracker?data=uP7TgOHeIoBZb8tHT8b8P-5Joh1B-EVwBg4vRKoa2aqEd6K1wLigVjuzGppZ4A3Pcqq8O6QfdpsX2sB5fqmpGS9NQ7SYCSmfS3RFDCelosE=">NCT05027139</a>) that evaluated the potential of evorpacept in combination with zanidatamab as a novel treatment for patients with HER2-expressing breast cancer and other cancers. Data from this study will be summarized in the following poster spotlight presentation:

Biotech

General

ALXO

ALX Oncology Announces Results From Phase 1b/2 Trial Of Evorpacept In Combination With Zanidatamab Will Be Presented At The San Antonio Breast Cancer Symposium 2024

&nbsp;Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) today announced that data from the Phase 3 trial (EMBER-3) for imlunestrant, an oral selective estrogen receptor degrader (SERD), will be reported for the first time in a late-breaking oral presentation at the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4292744-1&amp;h=3267956950&amp;u=https%3A%2F%2Fsabcs.org%2F&amp;a=San+Antonio+Breast+Cancer+Symposium+(SABCS)">San Antonio Breast Cancer Symposium (SABCS)</a> taking place December 10-13 in San Antonio, TX. EMBER-3 is a study in estrogen receptor positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) advanced breast cancer. The trial is evaluating imlunestrant alone or in combination with Verzenio (abemaciclib; CDK4/6 inhibitor), in patients who were pretreated with endocrine therapy, with or without a CDK4/6 inhibitor.
Lilly will also share results of a real-world analysis of risk of recurrence by nodal status and high-risk features in patients with hormone receptor positive (HR+), HER2- early breast cancer. Additional presentations from investigational mutant selective PI3Ka inhibitor assets include preclinical characterization data for LY4045004, which is expected to enter the clinic in the first half of 2025, and Phase 1a/b clinical data for a predecessor molecule, LOXO-783, which informed the development of LY4045004.

Lilly To Present Results From Phase 3 EMBER-3 Study Of Imlunestrant, An Oral SERD, And Additional Results From Its Breast Cancer Portfolio At The San Antonio Breast Cancer Symposium

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4293554-1&amp;h=3420507561&amp;u=https%3A%2F%2Fwww.centene.com%2F&amp;a=Centene+Corporation">Centene Corporation</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>), a leading healthcare enterprise committed to helping people live healthier lives, announced today that its subsidiary, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4293554-1&amp;h=1525079035&amp;u=https%3A%2F%2Fwww.buckeyehealthplan.com%2F&amp;a=Buckeye+Health+Plan">Buckeye Health Plan</a>&nbsp;(Buckeye), has been selected by the Ohio Department of Medicaid (ODM) to continue providing Medicare and Medicaid services for dually eligible individuals through a Fully Integrated Dual Eligible Special Needs Plan (FIDE SNP). FIDE SNPs fully integrate care for dually eligible beneficiaries under a single managed care organization, allowing enrollees to receive all of their medical, behavioral and long-term services and supports through one plan.

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