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Warby Parker

Warby Parker Inc is engaged in designing and developing designer prescription glasses and contacts, and providing the facility of eye exams and vision tests. The company predominantly derives revenue from the sales of eyewear products, optical services, and accessories. The firm sells products and services through its stores, website, and mobile apps. Revenue generated from eyewear products includes the sales of prescription and non-prescription optical glasses and sunglasses, contact lenses, eyewear accessories, and expedited shipping charges.

Warby Parker Inc

On Monday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). This comes amidst recent developments suggesting that Amazon may be ramping up its interest in nuclear energy to fuel its growing needs.
The Amazon Trade
Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ETF (BAYS: ARKQ) fund purchased 20,883 shares of Amazon, reflecting 0.4951% of the ETF. At the closing price of $189.07 on the same day, the value of the trade amounts to approximately $3.95 million. This move follows a series of recent developments around Amazon&#8217;s potential foray into nuclear energy.
A Benzinga report, in September, revealed that Amazon had <a href="https://www.benzinga.com/markets/equities/24/09/40969515/amazon-going-nuclear-hiring-plans-indicate-company-may-be-eyeing-nuclear-to-meet-energy-needs">reposted a job opening</a> for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy. Additionally, Amazon announced the expansion of its collaboration with Intel Corp., which has also <a href="https://www.benzinga.com/news/large-cap/24/09/40904271/whats-going-on-with-amazon-stock">positively impacted its stock.</a>
Wood&#8217;s confidence in Amazon has sparked a debate on whether this is a signal of the tech giant&#8217;s impending turnaround or another <a href="https://www.benzinga.com/news/24/10/41247558/cathie-woods-amazon-bet-from-kiss-of-death-to-bold-investment-is-she-right-this-time">high-risk gamble</a>.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Other Key Trades: 
Ark Invest&#8217;s ARKG and ARKK funds bought shares of CRISPR Therapeutics AG (CRSP) and Cerus Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>).
ARKQ sold a significant number of shares of Oklo Inc (OKLO) while buying shares of BWX Technologies Inc (BWXT) and 3D Systems Corp ( DDD). Shares of Materialise NV (MTLS) and Markforged Holding Corp (MKFG) were sold by the ARKQ and ARKX funds.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41422633/investors-lost-over-95-of-their-wealth-in-this-nvidia-linked-etf-while-jensen-huang-led-chip-gia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here&#8217;s More</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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

Rupert Murdoch&#8217;s Dow Jones and the New York Post have initiated legal proceedings against Jeff Bezos-backed AI firm Perplexity, alleging unauthorized use of their content and redirection of traffic to its platforms.
What Happened: On Monday, the News Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>)-owned entities claimed that Perplexity has been using their copyrighted material to train its AI, thereby enabling users to circumvent the publishers&#8217; websites, <a href="https://edition.cnn.com/2024/10/21/media/rupert-murdoch-dow-jones-perplexity-lawsuit/index.html#:~:text=Rupert%20Murdoch's%20Dow%20Jones%2C%20the,traffic%20to%20its%20own%20platforms.">reported</a> CNN.
The lawsuit alleges that <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">Perplexity&#8217;s business model</a> involves &#8220;massive freeriding&#8221; on the plaintiffs&#8217; protected content, competing for the same audience, and depriving them of crucial revenue sources.
See Also: <a href="https://www.benzinga.com/news/24/10/41422278/nvidias-new-free-open-source-ai-model-reportedly-outperforms-openais-gpt-4o-anthropics-claude-3-5-so?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s New Free, Open Source AI Model Reportedly Outperforms OpenAI&#8217;s GPT-4o, Anthropic&#8217;s Claude 3.5 Sonnet</a>
News Corp CEO Robert Thomson accused Perplexity of copying large amounts of copyrighted material without compensation and presenting repurposed material as a direct substitute for the original source.
Perplexity did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The lawsuit comes on the heels of a cease-and-desist letter sent to Perplexity by The New York Times less than a week ago, demanding the startup stop using the newspaper's content.
The Times also sued ChatGPT-parent OpenAI last year <a href="https://www.benzinga.com/startups/24/01/36715030/despite-openai-claiming-new-york-times-lawsuit-is-without-merit-the-ai-giant-tells-uk-regulators-a-d">for copyright infringement</a>, accusing the company of using its reporting to train its chatbots without permission.
Earlier this year, News Corp signed a significant deal with OpenAI, licensing its news content in an agreement reported to be <a href="https://www.benzinga.com/news/24/05/38975543/news-corp-stock-pops-on-multiyear-deal-with-openai">worth more than $250 million</a>.
Meanwhile, Perplexity has seen its valuation triple in the past year, aiming for an <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">$8 billion valuation</a> in its latest funding round.
The AI startup has also <a href="https://www.benzinga.com/news/24/09/40972869/jeff-bezos-backed-perplexity-ai-in-discussion-with-marriott-and-nike-as-it-prepares-to-challenge-to">been in talks with top-tier companies</a> like Nike Inc. and Marriott International and is developing a "sponsored" question system to challenge Google's auction-based ads model.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41395202/tim-cook-called-to-complain-about-billions-in-eu-fines-imposed-on-apple-says-trump-im-not-going-to-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook Called To Complain About Billions In EU Fines Imposed On Apple, Says Trump: &#8216;I&#8217;m Not Going To Let Them Take Advantage Of Our Companies&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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

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

U.S. markets closed mixed on Monday, with the Dow Jones Industrial Average dropping 0.8% to 42,931.60 and the S&amp;P 500 slipping 0.2% to 5,853.98. Meanwhile, the Nasdaq gained 0.3%, closing at 18,540.01.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s shares reached a new all-time high, closing at a 4.14% increase to $143.71. The stock&#8217;s intraday high and low were $143.71 and $138 respectively, with a 52-week high and low of $143.71 and $39.23. The company&#8217;s stock has seen a <a href="https://www.benzinga.com/news/24/10/41437976/nvidia-stock-hits-all-time-high-ahead-of-big-tech-earnings-whats-going-on">significant rise</a> due to the increasing demand for its GPUs, particularly from hyperscalers building out data centers with advanced AI capabilities.
Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>)
Spirit Airlines&#8217; stock soared by 53.06% to close at $2.25. The intraday high and low were $2.54 and $1.85 respectively, with a 52-week high and low of $17.49 and $1.4. The airline&#8217;s shares traded higher after it <a href="https://www.benzinga.com/news/24/10/41432467/why-spirit-airlines-stock-is-taking-off-monday">extended its debt refinancing deadline</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41422633/investors-lost-over-95-of-their-wealth-in-this-nvidia-linked-etf-while-jensen-huang-led-chip-gia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here&#8217;s More</a>
SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>)
SAP&#8217;s shares saw a slight decrease of 0.42% to close at $229.48. The stock&#8217;s intraday high and low were $230.84 and $228.12 respectively, with a 52-week high and low of $232.23 and $130.08. The company&#8217;s stock traded higher after it reported mixed <a href="https://www.benzinga.com/news/earnings/24/10/41439701/sap-stock-climbs-after-mixed-q3-results-eps-beat-revenues-miss">third-quarter</a> financial results.
Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Trump Media &amp; Technology&#8217;s shares rose by 5.81% to close at $31.3. The stock&#8217;s intraday high and low were $31.65 and $29.32 respectively, with a 52-week high and low of $79.38 and $22.55. This comes despite <a href="https://www.benzinga.com/general/social-media/24/10/41431721/djt-stock-rises-despite-reported-whistleblower-allegations-at-trump-media">reported whistleblower allegations</a> concerning the Donald Trump-associated company&#8217;s hiring strategy.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares decreased by 0.84% to close at $218.85. The stock&#8217;s intraday high and low were $220.48 and $215.73 respectively, with a 52-week high and low of $271 and $138.8. Tesla&#8217;s CEO, Elon Musk, recently <a href="https://www.benzinga.com/news/24/10/41431406/elon-musk-says-tesla-will-not-buy-ev-rival-rivian-going-to-have-a-hard-time">dismissed the idea</a> of acquiring EV rival Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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

CNBC host Jim Cramer has urged investors to consider buying American Express Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) shares <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407367/american-express-mixed-q3-results-goldman-analyst-sees-silver-lining-in-expense-man">despite the recent dip in the stock price</a>.
What Happened: Cramer, on his show &#8220;Mad Money,&#8221; highlighted the potential of American Express in the long term, especially in attracting younger customers. He emphasized the company&#8217;s strong earnings and credit quality, which he believes will only improve with the Federal Reserve&#8217;s ongoing interest rate cuts, <a href="https://www.cnbc.com/2024/10/21/jim-cramer-explains-why-you-should-buy-american-express-on-the-dip.html">reported</a> CNBC.
"American Express had tremendous success at winning over lots of younger customers, who will likely stick with the company for decades to come," Cramer said. "That's the big story here, not a line or two on the call about a softer spending environment&nbsp;right now, which management is handling with aplomb."&nbsp;
Despite a slight revenue miss and a downward revision of its full-year forecast, American Express reported a significant earnings beat. The company&#8217;s stock price fell by over 2% following the earnings report. Cramer believes that Wall Street is underestimating the company&#8217;s earnings strength and the potential for long-term growth.
He also lauded American Express for its success in attracting younger cardholders, a demographic he believes has a higher lifetime value than older customers. The company&#8217;s CFO, Christophe Le Caillec, noted on the earnings call that they are seeing strong loyalty from Millennial and Gen Z members.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41417379/nvidia-stock-is-up-over-233-in-the-past-year-and-tech-bulls-say-it-could-go-even-hi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Is Up Over 233% In The Past Year And Tech Bulls Say It Could Go Even Higher From Here: &#8216;…You&#8217;ll See The Stock Double Over The Next Several Years&#8217;</a>
Why It Matters: The recent dip in American Express&#8217; stock price follows a <a href="https://www.benzinga.com/news/earnings/24/10/41400722/american-express-q3-earnings-profit-beats-estimate-card-spending-grows-revises-annual-outlook">mixed third-quarter earnings repor</a>t. The company&#8217;s revenue (net of interest expenses) grew by 8% year-on-year to $16.64 billion, slightly missing the analyst consensus estimate of $16.67 billion. However, the adjusted EPS of $3.49 beat the analyst consensus estimate of $3.28.
Despite the revenue miss, the company&#8217;s Card Member spending or Billed Business grew by 6% (or 6% forex adjusted) year-over-year to $387.3 billion. This performance led analysts to increase their <a href="https://www.benzinga.com/news/earnings/24/10/41435324/american-express-analysts-increase-their-forecasts-after-q3-earnings">forecasts for the company&#8217;s future</a>.
Earlier in October, American Express announced that it would become the sole owner of Swisscard after UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41421951/american-express-to-become-sole-owner-of-swisscard-as-ubs-sells-its-50-stake">sold its 50% stake</a>. 
Despite the mixed results, analysts noted that the company&#8217;s higher loan volumes, stable growth in Card Member spending, and accelerated card fee revenue growth <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407367/american-express-mixed-q3-results-goldman-analyst-sees-silver-lining-in-expense-man">triggered the topline growth</a>.
Price Action: American Express stock closed at $270.74 on Monday, down 2.19% for the day. In after-hours trading, the stock slightly recovered, rising 0.28%. Year to date, American Express has gained 43.77%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/markets/equities/24/10/41416572/spirit-airlines-extends-debt-deadlines-jetblue-founder-suggests-frontier-group-a-more-suitable-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Spirit Airlines Extends Debt Deadlines, JetBlue Founder Suggests Frontier Group A More Suitable Match</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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

Reo. Alexandria Ocasio-Cortez (D-N.Y.) expressed her views on the <a href="https://www.benzinga.com/news/24/10/41422464/mark-cuban-questions-legality-of-elon-musks-1m-daily-pac-giveaway-but-tesla-ceo-highlights-the-shark">million-dollar giveaway</a> from the Elon Musk-founded America PAC and Donald Trump&#8217;s <a href="https://www.benzinga.com/news/24/10/41419892/trump-turns-up-to-serve-fries-at-mcdonalds-i-could-do-this-all-day-i-wouldnt-mind-this-job">recent stint</a> at a McDonald&#8217;s restaurant.
What Happened: On Monday, Ocasio-Cortez shared a video through her X profile. &#8220;These billionaires have absolutely no idea what our lives are like,&#8221; she said.
&#8220;We gotta talk about what this guy is doing,&#8221; said Ocasio-Cortez on Musk. &#8220;He&#8217;s not only just dumping millions and millions of dollars here in the state of Pennsylvania, acting like he&#8217;s from here, acting like he knows what Pennsylvania is about.&#8221;
&#8220;When you have a billionaire, just dangling a million bucks to those of us and many of us who are struggling to make ends meet, if they dance for him&#8230;&#8221; she said.
&#8220;You&#8217;ve got Donald Trump, putting on a little McDonald&#8217;s costume because he thinks that&#8217;s what people do.&#8221;
&#8220;They&#8217;re not trying to empathize with us. They are making fun of us. Donald Trump thinks that people who work at McDonald&#8217;s are a joke. Elon Musk thinks that dangling money in front of a working person is a cute thing to do.&#8221;
She went on to say that billionaires had no idea what the lives of working-class people were like and that their &#8220;callousness&#8221; was a &#8220;way of connecting.&#8221; Ocasio-Cortez urged the gathering she addressed to vote for Kamala Harris and Tim Walz instead.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">These billionaires have absolutely no idea what our lives are like. <a href="https://t.co/pWd4Yct09n">pic.twitter.com/pWd4Yct09n</a>
&mdash; Team AOC (@TeamAOC) <a href="https://twitter.com/TeamAOC/status/1848464741162754145?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk, CEO of Tesla Inc and SpaceX, recently announced a daily $1 million giveaway to individuals in swing states who sign his petition supporting the First and Second Amendments. This move has drawn criticism, with some questioning its legality.
See Also: <a href="https://www.benzinga.com/news/24/10/41419769/trump-leads-harris-ex-president-improves-polling-averages-in-these-2-key-battleground-states-poll-sh?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Leads Harris — Ex-President Improves Polling Averages In These 2 Key Battleground States, Poll Show</a>
Meanwhile, former President Trump was spotted serving customers at a McDonald&#8217;s drive-thru in Pennsylvania, a key battleground state. He was seen operating the fry cooker and serving orders to customers.
Why It Matters: Musk&#8217;s daily giveaway, announced at a town hall, is part of a campaign by his pro-Trump super PAC, America PAC. The online petition aims to rally support for freedom of speech and the right to bear arms. This move has been met with skepticism and has been questioned by fellow billionaire Mark Cuban.
Trump&#8217;s stint at McDonald&#8217;s, on the other hand, is seen as a move to ridicule Vice President Harris&#8217;s past work experience at the fast-food chain. His appearance at the drive-thru was shared on social media by former White House press assistant Margo Martin.
Photos On Shutterstock.com
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

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

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

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

ZCAR

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

ZCARW

Federal Reserve

Fed's Daly Said Fed Does Not Use AI As Part Of Its Policy Work; Said Fed's Work On AI Now Is To Understand How Others Are Using It, And Its Effect On The Economy

<a href="https://www.cmegroup.com/education/events/econoday/2024/10/feed631721.html" title="https://www.cmegroup.com/education/events/econoday/2024/10/feed631721.html">https://www.cmegroup.com/education/events/econoday/2024/10/feed631721.html</a>

SIVBQ

San Francisco Fed President Mary Daly, At 2024 WSJ Tech Live, Said With Silicon Valley Bank, What Was Missed Was The Concentration Risk Of Its Client Network

Apple Intelligence is one of the most highly anticipated product releases from Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in years and has already changed the life of its CEO Tim Cook<a href="https://www.benzinga.com/top-stories/24/10/41439387/apple-ceo-tim-cook-uses-iphone-apple-watch-every-day-says-apple-intelligence-has-changed-my-life"> for the better.</a>
Cook believes the release of Apple Intelligence will go down as one of the biggest technology releases in Apple history.
<a href="https://www.benzinga.com/general/education/21/10/23714440/5-things-you-might-not-know-about-apple-ceo-tim-cook-2">The Apple CEO </a>recalled in a recent interview that he still gets nervous on big days like the Worldwide Developers Conference, where Apple unveiled the Apple Intelligence artificial intelligence technology earlier this year.
Cook <a href="https://www.wsj.com/style/tim-cook-interview-apple-intelligence-vision-pro-48c59018">told </a>the Wall Street Journal that Apple Intelligence will make using the company's products "profoundly different."
"I think we'll look back and it will be one of these air pockets that happened to get you on a different technology curve," Cook said.
Cook's strong belief in the Apple Intelligence technology could put the feature on the same level of other technology features well-known to Apple fans over the years like the iPod's click wheel and the iPhone's touch interface, the Wall Street Journal reported.
The Apple CEO said the technology advancements and use cases from Apple Intelligence could take time for some people to realize and experience.
"But it will happen. It will happen for all of us."
For Apple, communicating the importance and use cases of Apple Intelligence could be paramount for future growth. iPhone users are no longer buying new phones every year and may have to be persuaded to buy the newest iPhone 16 models, which is where Apple Intelligence will live.
Apple Intelligence can summarize your notifications and emails, a feature that Cook admitted in the interview to using daily.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
While some consumers may not be overly excited about Apple Intelligence or the price to upgrade to a new phone for the AI features, it might serve as a good reminder that the technology giant was previously laughed at for having a smartphone without a physical keyboard and the $399 cost of the iPod.
"It's predictable in some ways," Cook added.
Cook said the same will be realized by the skeptics of Apple Intelligence.
"It's not that people are wrong and we're right. We have enough faith that if we love the product, there will be enough other people out there that love it too."
Apple doesn't release products that are just good, instead focusing on great ideas, which could be why the company has abandoned working<a href="https://www.benzinga.com/news/24/10/41328193/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on"> on electric vehicles.</a>
"Saying no to really, really good ideas so you can make room for the great ones," Cook added.
While the Vision Pro hasn't captured the same mass demand as other Apple products, Cook remains proud of the technology and sees the future of the device.
"At $3,500, it's not a mass-market product. Right now, it's an early-adopter product. People who want to have tomorrow's technology today."
Similar to the skeptics who brushed off the success of the iPod, iPhone and AirPods and perhaps the same people doubting Apple Intelligence, Cook has a warning on success.
"It doesn't occur overnight."
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36896845/apple-vision-pro-is-mind-blowing-says-ceo-tim-cook-we-live-in-a-3d-world-but-the-co">Apple Vision Pro Is &#8216;Mind-Blowing,&#8217; Says CEO Tim Cook: &#8216;We Live In A 3D World, But The Content That We Enjoy Is Flat&#8217;</a></li>
</ul>
Photo: Tim Cook, Courtesy Apple

Success Stories

AAPL

Apple CEO Tim Cook Says Apple Intelligence Will Make Products 'Profoundly Different': New AI Technology Will Get Consumers 'On A Different Technology Curve'

The U.S. Securities and Exchange Commission (SEC) on Monday charged investment adviser WisdomTree Asset Management Inc. with making misstatements and compliance failures related to the execution of an investment strategy marketed as incorporating environmental, social <a href="https://www.benzinga.com/etfs">and governance (ESG) factors</a>.
The Details:  According to the SEC's<a href="https://www.sec.gov/newsroom/press-releases/2024-173"> order,</a> from March 2020 until November 2022, WisdomTree invested in companies involved in fossil fuels and tobacco in three ESG-marketed ETFs. This contradicted the funds' prospectuses which stated the funds would not be invested in companies involved in certain products or activities, such as fossil fuels and tobacco. 
The order also found WisdomTree lacked policies and procedures for the screening process to exclude such companies from the funds.
Read Next: <a href="https://www.benzinga.com/news/24/10/41418987/nuclear-energy-stocks-are-hot-heres-a-list-of-tickers-to-watch">Nuclear Energy Stocks Are Hot: Here&#8217;s A List Of Tickers To Watch</a>
"At a fundamental level, the federal securities laws enforce a straightforward proposition: investment advisors must do what they say and say what they do," Sanjay Wadhwa, acting director of the SEC's Division of Enforcement, said in a statement.&nbsp;
"When investment advisors represent that they will follow particular investment criteria, whether that is investing in, or refraining from investing in, companies involved in certain activities, they have to adhere to that criteria and appropriately disclose any limitations or exceptions to such criteria," Wadhwa added.&nbsp;
WisdomTree liquidated the funds in February 2024, according to an SEC filing from the firm. The three delisted ETFs included the WisdomTree International ESG Fund, the WisdomTree Emerging Markets Fund and the WisdomTree U.S. ESG Fund.
WisdomTree agreed to pay a $4 million civil penalty without admitting or denying the SEC's findings.&nbsp;
WIsdomTree's largest fund is the WisdomTree Emerging Markets High Dividend Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEM#NYSE">DEM</a>) with $2.94 billion in assets under management.
Read Also:&nbsp;
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<li>&nbsp;<a href="https://www.benzinga.com/news/24/10/41415824/lucid-ceo-peter-rawlinson-talks-saudi-investment-elon-musks-political-views-and-taking-business-from">Lucid CEO Peter Rawlinson Talks Saudi Investment, Elon Musk&#8217;s Political Views And Taking Business From Tesla</a></li>
</ul>
Photo: Shutterstock&nbsp;

Government

Regulations

WisdomTree Pays $4M SEC Penalty For Compliance Failures Related To ESG Funds

STOCK CLOSES AT THE HIGH OF THE DAY AFTER DROPPING IN PRICE BEFORE THE ALERT
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="827" height="788" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/21200517/Screen-Shot-2024-10-21-at-4.06.30-PM.png" alt="" class="wp-image-2577" style="width:624px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/21200517/Screen-Shot-2024-10-21-at-4.06.30-PM.png 827w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/21200517/Screen-Shot-2024-10-21-at-4.06.30-PM-300x286.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/10/21200517/Screen-Shot-2024-10-21-at-4.06.30-PM-768x732.png 768w" sizes="(max-width: 827px) 100vw, 827px" /></figure>
Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:59 AM on October 21st, a significant trading signal occurred for Advanced Micro Devices, Inc. as it demonstrated a Power Inflow at a price of $154.73. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in AMD&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in AMD&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted by active traders as a bullish signal.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for AMD, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data brought to you by Benzinga APIs</a> and include firms, like <a href="https://finitusa.com/en/">Finit USA</a>, responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $154.73. The returns on the High price ($157.94) and Close price ($157.94) after the Power Inflow were respectively 2.0% and 2.0%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case, the high of the day and close were the same but that is not always the case
Past Performance is Not Indicative of Future Results

Signals

Tradepulse Power Inflow Alert: Advanced Micro Devices Inc. Moves Over 2% Higher

A recently released HBO documentary used a series of interviews and clues to narrow down the identity of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto to one man, someone who happens to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41250621/peter-todd-says-im-not-satoshi-but-not-everyones-buying-that-just-as-plausible-as-the-othe">deny the claim.</a>
Another person who wasn't Satoshi Nakamoto was entrepreneur and industrialist Henry Ford, who founded Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>).
While Ford didn't create Bitcoin, he may have been a leading voice in the creation of Bitcoin.
What Happened: Ford <a href="https://cointelegraph.com/news/100-years-ago-henry-ford-proposed-energy-currency-to-replace-gold" target="_blank" rel="noreferrer noopener">proposed </a>creating an energy currency that would replace the gold standard.
"Ford would replace gold with energy currency and stop wars," a headline reads in the Dec. 4, 1921 issue of the New York Tribune.
Ford wanted to end the control the banking system had on global wealth and the wars caused by monetary policies.
The industrialist planned on creating "the world's greatest power plant" to demonstrate a plan that would create currency based on "units of power."
"Under the energy currency system the standard would be a certain amount of energy exerted for one hour that would be equal to one dollar," Ford told the newspaper.
Ford was never able to advance the energy currency he proposed, but it can be linked to the creation of Bitcoin. Ford, who was born in 1863, died in 1947, decades before the creation of the concept of Bitcoin. 
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36471920/happy-birthday-bitcoin-15-fun-facts-about-leading-cryptocurrency">15 Fun Facts About Leading Cryptocurrency Bitcoin</a>
Why It's Important:&nbsp;Bitcoin creator&nbsp;Satoshi Nakamoto&nbsp;released the white paper for&nbsp;<a href="https://www.benzinga.com/money/how-to-buy-bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a><a href="https://www.benzinga.com/money/how-to-buy-bitcoin/" target="_blank" rel="noopener">&nbsp;</a>in 2008 outlining the creation of a currency created from proof-of-work mining.
Nakamoto did not mention Ford directly in his white paper.
President&nbsp;Richard Nixon&nbsp;announced the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/08/22518188/crypto-community-remembers-how-nixon-killed-the-dollar-reminds-bitcoin-is-a-solution" target="_blank" rel="noreferrer noopener">end of the U.S. gold standard in 1971</a>. The dollar and gold bullion were officially disconnected in 1976.
Ford is credited with creating the&nbsp;<a href="https://www.benzinga.com/general/education/20/10/12498786/this-day-in-market-history-ford-produces-1-millionth-model-t" target="_blank" rel="noreferrer noopener">first&nbsp;</a>mass-produced automobile, assembly lines for automobiles,&nbsp;<a href="https://www.benzinga.com/general/education/21/01/19018768/this-day-in-market-history-ford-sets-5-per-day-minimum-wage" target="_blank" rel="noreferrer noopener">pushes&nbsp;</a>for minimum wage, safety glass in windshields and many other items used by the sector today.
Given his forward-looking ideas, it shouldn't come as that big of a surprise that Ford was vocal in changing monetary policy.
Some users on the Reddit subreddit r/cryptocurrency have jokingly said&nbsp;Nakamoto could be the reincarnation of Ford.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41255580/satoshi-nakamoto-identity-remains-a-mystery-after-hbo-documentary-bronze-statue-celebrates">Satoshi Nakamoto Identity Remains A Mystery After HBO Documentary: Bronze Statue Celebrates Bitcoin Founder&#8217;s Anonymity – &#8216;We Are All Satoshi&#8217;</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Photo: Ford, By Prachaya Roekdeethaweesab via Shutterstock; Bitcoin, Photo by Geralt via Pixabay.

Education

Henry Ford Wasn't Satoshi Nakamoto, But Auto Entrepreneur May Have Predicted Bitcoin

Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is set to report its third-quarter financial results before Tuesday's opening bell. Here's a look at what <a href="https://www.benzinga.com/news/earnings/24/10/41357474/3-stocks-investors-dont-want-to-miss-ahead-of-earnings">investors will be watching. </a>
The Details: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of $6.50 per share and quarterly revenue of $17.351 billion. Lockheed Martin has beat analyst expectations on the top and bottom lines for the past seven consecutive quarters. 
Investors are anticipating an update on the planned acquisition of satellite manufacturer Terran Orbital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLAP#NYSE">LLAP</a>) and updates on the defense contractor's $5.1 billion in recently secured contracts. 
Read Next: <a href="https://www.benzinga.com/news/24/10/41418987/nuclear-energy-stocks-are-hot-heres-a-list-of-tickers-to-watch">Nuclear Energy Stocks Are Hot: Here&#8217;s A List Of Tickers To Watch</a>
What Else: Last week, Reuters reported the Biden administration plans to <a href="https://www.benzinga.com/government/24/10/41392734/rocket-lab-stock-climbs-as-biden-administration-plans-to-ease-export-restrictions-on-space-companies">soften export restrictions</a> on U.S. space companies to ship satellites and spacecraft-related items to allies. 
People familiar with the matter reportedly said the move is aimed at boosting sales for the commercial space industry in the U.S. while protecting national security. Lockheed Martin stands to benefit from the new policies due to the company's space segment.&nbsp;
Susquehanna analyst Charles Minervino maintained Lockheed Martin with a Positive rating and raised the price target from $565 to $705 ahead of the company's third-quarter report.&nbsp;
LMT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Lockheed Martin shares ended Monday&#8217;s session up 0.46% at $614.61. 
Read Also:&nbsp;
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<li>&nbsp;<a href="https://www.benzinga.com/news/24/10/41415824/lucid-ceo-peter-rawlinson-talks-saudi-investment-elon-musks-political-views-and-taking-business-from">Lucid CEO Peter Rawlinson Talks Saudi Investment, Elon Musk&#8217;s Political Views And Taking Business From Tesla</a></li>
</ul>
Photo: Shutterstock

Earnings

SPACE

Previews

LLAP

Lockheed Martin Reports Q3 Results Tuesday: Here's What To Watch

An outdated infrastructure and fuel shortages have again caused severe power blackouts in Cuba, embodying the crisis deeply rooted in the troubled economy. The situation, already critical in recent years, has deteriorated further during hurricane season — Hurricane Oscar just dumped heavy rain — and showcased the island&#8217;s reliance on <a href="https://www.benzinga.com/topic/oil">oil imports</a>.
<h1 class="wp-block-heading">Crumbling Energy Infrastructure</h1>
Cuba&#8217;s power grid relies on eight aging thermoelectric plants, some nearly 50 years old, and have received little maintenance over the past decade. These plants burn crude oil, but much of Cuba&#8217;s crude oil is of poor quality and high in sulfur and metals, which damages the combustion process and requires constant repairs.
The country also leased several Turkish power-plant ships to supplement its electricity needs, providing up to 20% of the nation's power. However, these ships, too, rely on fuel, and Cuba&#8217;s dwindling reserves mean they are no longer a viable solution. 
The IEA <a href="https://www.iea.org/countries/cuba">reported</a> that, per its latest known data, Cuba generated 83% of its electricity using petroleum derivatives in 2022, with renewable energy sources contributing less than 5%.
Cuba produces around 40,000 barrels of fuel daily but consumes approximately 120,000 barrels. This deficit used to be covered by Venezuelan oil imports, with some assistance from Mexico and Russia. Unfortunately, these imports have declined sharply in recent years. 
Venezuela's oil shipments to Cuba, once a lifeline, have now fallen to a third of previous levels, while Mexico's and Russia's contributions are inconsistent at best.
<h1 class="wp-block-heading">Economy Dips, Emigration Rises</h1>
The blackouts are symptomatic of a much deeper economic crisis as Cuba's GDP contracted by 1.9% in 2023, and forecasts for 2024 predict only a modest 0.5% growth.
In response, citizens have been leaving the country in record numbers. Per <a href="https://www.miamiherald.com/news/nation-world/world/americas/cuba/article290249799.html">Miami Herald</a>, between 2022 and 2023, over one million people — about 10% of the population — migrated, mainly to the U.S. This period marks the largest migration wave in Cuban history, driving the population down to around 10 million by conservative estimates.
The Cuban diaspora strengthened the American Latino population, which, according <a href="https://www.politico.com/news/magazine/2024/10/10/trump-harris-town-hall-univision-00183158">to</a> Politico, will have around 36.2 million voters this year, up to 32.3 million in 2020. Both candidates have watched this demographic closely, as its relatively young population (31% under 30, according <a href="https://www.pewresearch.org/short-reads/2024/01/10/key-facts-about-hispanic-eligible-voters-in-2024/">to</a> Pew Research) creates a reliable voting base for either party.
Yet, while the U.S. immigrants are relatively young, Cubans are getting old. Birth rates are low, with only 284,000 children born between 2022 and 2023, while the number of deaths reached over 400,000. The combination of mass emigration and a declining birth rate has created a demographic time bomb.
Unless something radically changes to stabilize its socio-economic system, the nation's long-term prospects are somber. For those on the island, enveloping darkness might symbolize more than just a power outage.
Read Next: • <a href="https://www.benzinga.com/news/24/10/41422464/mark-cuban-questions-legality-of-elon-musks-1m-daily-pac-giveaway-but-tesla-ceo-highlights-the-shark">Mark Cuban Questions Legality Of Elon Musk&#8217;s $1M Daily PAC Giveaway, But Tesla CEO Highlights The Shark&#8217;s $5.7B Deal With Yahoo!</a>
Photo: InkDrop via Shutterstock

Latin America

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Global

Cuba's Fuel Shortages, Aging Power Grid Push Caribbean Nation Into Darkness

The U.S. Department of Justice (DOJ) announced Monday afternoon that it&#8217;s going after a group of companies for alleged racial discrimination in <a href="https://www.benzinga.com/money/when-should-you-refinance-a-mortgage">mortgage refinancing applications</a>.
What To Know: The DOJ filed a lawsuit against Rocket Companies Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) Rocket Mortgage; as well as Solidifi US; Maverick Appraisal Group and Maverick CEO Maksym Mykhailyna, alleging that the parties discriminated against a Black homeowner by &#8220;undervaluing her home based on her race&#8221; in an appraisal that takes place when a homeowner files to refinance their mortgage.
The DOJ also alleged Rocket Mortgage further interfered with the homeowner&#8217;s rights by canceling her mortgage refinance application after she reported the discrimination.
Benzinga reached out to Rocket Companies, Solidifi US and Mykhailyna&#8217;s company Maverick Appraisal Group for comment on the allegations. 
Rocket Mortgage issued the following statement to Benzinga in response to the DOJ&#8217;s lawsuit:
"Under federal law, mortgage lenders are required to work at arm's length during the appraisal process, partnering with independent appraisal management companies who assign the work to state-licensed professional appraisers. The law&#8217;s intent is to determine the home&#8217;s value without any input or bias from the lender or any other party with interest in the transaction,&#8221; the company said.
&#8220;It is clear the government isn't interested in their own rules, or facts, and are simply including us in this case to score headlines based on our strong brand and prominent position in the industry. We look forward to exposing the government's massive overreach in this matter.&#8221;
According to the DOJ, the homeowner applied for a mortgage refinancing loan from Rocket Mortgage in early 2021. Rocket Mortgage contracted Solidifi to appraise the home and Solidifi retained Mykhailyna and his company for the appraisal. 
The home was located in a predominantly white neighborhood in Denver, but the complaint alleged Mykhailyna used sales data from neighborhoods that were further away and had larger Black populations. Mykhailyna also allegedly used homes in the same neighborhood to support an appraisal for a white homeowner in the same neighborhood a few months earlier.
&#8220;The complaint alleges that these and other errors demonstrate Mykhailyna undervalued the property because of race and color,&#8221; the press release states.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41436349/tesla-q3-earnings-preview-analyst-says-1-8-million-unit-estimate-hittable-for-2024-">Tesla Q3 Earnings Preview: Analyst Says 1.8 Million Unit Estimate &#8216;Hittable&#8217; For 2024, &#8216;2 Million+ Number The Focus For 2025&#8217;</a>
Mykhailyna sent his appraisal to Solidifi, which reviewed the appraisal and forwarded it to Rocket Mortgage. When Rocket Mortgage presented it to the homeowner, she contacted the company and explained why she believed there was racial discrimination involved. The DOJ claimed Rocket Mortgage canceled her refinance application in response.
The homeowner then filed a complaint with the Department of Housing and Urban Development (HUD), which conducted an investigation before referring the matter to the DOJ.
"HUD applauds today's action and remains committed to working with DOJ to ensure appraisal companies and mortgage providers are held accountable when they violate our nation's fair housing laws,&#8221; said&nbsp;principal deputy assistant secretary Diane Shelley of HUD's Office of Fair Housing and Equal Opportunity.
"It has been over&nbsp;56 years since the passage of the Fair Housing Act, and it is unconscionable that Black and Brown families still face discrimination during housing transactions.&#8221; 
Rocket Companies shares closed Monday down 9.33% at $16.33, according to pricing data from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Real Estate

DOJ Sues Rocket Mortgage, Appraisal Companies For Alleged Racial Discrimination — Rocket Responds: 'Massive Overreach'

The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on October 22, 2024 under the ticker symbol &quot;HUHU.&quot;
The Company expects to receive aggregate gross proceeds of US$4.2 million from the Offering, before deducting underwriting discounts and other related expenses.

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HUHU

HUHUTECH Prices IPO Of 1.05M Ordinary Shares At $4.0 Per Ordinary Share

Shares of Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) traded higher on Monday as nuclear names saw continued momentum after Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services announced plans to invest $500 million <a href="https://www.benzinga.com/news/24/10/41358363/nuclear-stocks-soar-as-amazon-becomes-latest-tech-giant-to-invest-in-nuclear-power">in nuclear power last week.</a>
What To Know: AWS signed multiple agreements last week, including a deal with Energy Northwest to build four advanced small modular reactors (SMRs) in Washington. The company also partnered with X-energy to use its SMR design in the Energy Northwest plans and entered into a collaboration with Dominion Energy to explore SMR projects in Virginia.
Big tech companies, facing increasing energy demands driven by the <a href="http://benzinga.com/topic/ai">AI</a> revolution, are turning to nuclear power as a reliable, carbon-free source of energy to power their data centers. Amazon's investment follows a similar move by Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, which recently announced a deal to purchase power from a fleet of SMRs developed by <a href="https://www.benzinga.com/news/24/10/41321236/sam-altmans-oklo-jumps-on-google-nuclear-deal-whats-going-on">Kairos Power</a>.
Hyperscalers are increasingly looking to nuclear to meet the growing energy needs of AI, which has created excitement around the potential for more deals across the space. 
See Also: <a href="https://www.benzinga.com/markets/esg/24/10/41409688/this-small-cap-nuclear-stock-is-up-over-100-in-a-month-will-it-keep-generating-momentum">This Small-Cap Nuclear Stock Is Up Over 100% In A Month: Will It Keep Generating Momentum?</a>
Oklo, a developer of fast fission power plants, has been benefiting from the broader sector's momentum. Oklo shares jumped last week on Google's nuclear deal with Kairos amid speculation that Oklo, backed by OpenAI&#8217;s Sam Altman, could be the next to secure a deal with a major tech player.
Oklo CEO Jacob DeWitte highlighted the massive demand for power being driven by AI growth in a CNBC interview last week. He said Google&#8217;s recent nuclear deal was "just the tip of the iceberg" for the industry and emphasized the role of nuclear energy in meeting this demand.
When he was asked about the potential for Oklo to sign a deal with OpenAI or announce a similar deal to the agreement Google made last week, DeWitte <a href="https://www.benzinga.com/news/24/10/41343639/oklo-ceo-highlights-mind-blowing-demand-for-ai-power-says-googles-nuclear-deal-only-tip-of-the-icebe">said</a> there's "a lot more to come."
Multiple nuclear stocks traded higher alongside Oklo last week and continued to move higher on Monday including NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>), which closed Monday up 4.23% and Nano Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>), which closed the session up 34.3%. 
OKLO Price Action: Oklo shares closed Monday up 22.4% at $22.32, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41418987/nuclear-energy-stocks-are-hot-heres-a-list-of-tickers-to-watch">Nuclear Energy Stocks Are Hot: Here&#8217;s A List Of Tickers To Watch</a></li>
</ul>
Photo Credit: Courtesy of Oklo, Inc.

GOOG

OKLO

Oklo Stock Continues To Climb: What's Going On?

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Warby Parker: Not Enough Margin Of Safety To Make The Vision Worth Buying

Warby Parker ( ($WRBY) ) has shared an update. Gabrielle Sulzberger is set to resign from the board of Warby Parker Inc. on October 18, 2024, to pr...

Gabrielle Sulzberger Resigns, Warby Parker Board Adjusts

Goldman Sachs upgraded Warby Parker (WRBY) to Buy from Neutral with a price target of $18, up from $15. The firm sees "several emerging tailwinds" ...

Warby Parker upgraded to Buy from Neutral at Goldman Sachs

Warby Parker gains after attracting a bull call from Goldman Sachs

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Thinking about buying stock in Beneficient, Warby Parker, Akero Therapeutics, Masco, or Nextdoor Holdings?

Warby Parker Publishes 2023 Impact Report

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Warby Parker Announces First Quarter 2024 Results

Warby Parker Announces Participation in the TD Cowen 8th Annual Future of the Consumer Conference

Warby Parker to Announce Second Quarter 2024 Financial Results on August 8, 2024

Warby Parker appoints Ronald A. Williams as Lead Director and welcomes Bradley E. Singer to Board of Directors

Warby Parker Announces Second Quarter 2024 Results

Warby Parker Announces Participation in the Goldman Sachs 31st Annual Global Retailing Conference

Warby Parker to Announce Third Quarter 2024 Financial Results November 7, 2024

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