에 대한 최신 뉴스 ChampionX (NASDAQ:CHX) 주식

ChampionX

ChampionX provides chemical solutions and equipment for onshore and offshore oil and gas production. Its engineering expertise spans the well lifecycle, but the firm maintains a particular focus on the production phase. Key offerings include artificial lift services and drilling technologies, specializing in polycrystalline diamond cutter inserts. ChampionX was formed after Apergy acquired its chemical technologies business from Ecolab in 2020.

ChampionX Corp

Troilus Gold Corp

Macro Economic Events

News

Econ #s

Economics

U.K. Construction Purchasing Managers Index For September 57.2 Vs. 53.1 Est.; 53.6 Prior

Accolade, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) will release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/ACCD/earnings">opening bell on Tuesday, Oct. 8.</a>
Analysts expect the Seattle, Washington-based company to report a quarterly loss at 44 cents per share, versus a year-ago loss of 43 cents per share. Accolade is projected to post quarterly revenue of $105.01 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On June 27, Accolade reported first-quarter financial results and issued worse-than-expected FY25 revenue guidance.
Accolade shares fell 2.4% to close at $3.68 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>G<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58c2a8e2b85e930001ba538b/sandy-draper">uggenheim analyst Sandy Draper</a> maintained a Buy rating and cut the price target from $13 to $6 on June 28. This analyst has an accuracy rate of 72%.</li>
<li>Stifel analyst David Grossman maintained a Buy rating and cut the price target from $13 to $8 on June 28. This analyst has an accuracy rate of 61%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/581084a2846faa00014d5429/ricky-goldwasser">Morgan Stanley analyst Ricky Goldwasser</a> maintained an Equal-Weight rating and cut the price target from $12 to $6 on June 28. This analyst has an accuracy rate of 74%.</li>
<li>Needham analyst Ryan MacDonald maintained a Buy rating and slashed the price target from $13 to $8 on June 28. This analyst has an accuracy rate of 62%.</li>
<li>Raymond James analyst maintained an Outperform rating and raised the price target from $12 to $16 on Jan. 9. This analyst has an accuracy rate of 78%.</li>
</ul>
Considering buying ACCD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04031741/image-15-1024x502.png" alt="" class="wp-image-580090" style="width:651px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04031741/image-15-1024x502.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04031741/image-15-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04031741/image-15-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04031741/image-15.png 1328w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41179277/apogee-enterprises-smart-sand-and-3-stocks-to-watch-heading-into-friday">Apogee Enterprises, Smart Sand And 3 Stocks To Watch Heading Into Friday</a></li>
</ul>

Earnings

Price Target

Markets

Analyst Ratings

Trading Ideas

ACCD

Top Wall Street Forecasters Revamp Accolade Price Expectations Ahead Of Q2 Earnings

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, amid growing concerns in the Middle East. All three major indices are on course to record losses this week, with the Dow and S&amp;P 500 losing 0.7% each.
Shares of Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) fell around 8% on Thursday after the company reported worse-than-expected third-quarter sales results and issued its FY24 adjusted EPS guidance with its midpoint below estimates. The company began a strategic review for its Dockers brand and is exploring a potential sale or other strategic transactions.
On the economic data front, U.S. initial jobless claims increased by 6,000 from the prior week to 225,000 during the week ended Sept. 28, compared to market estimates of 220,000. The S&amp;P Global services PMI was revised lower to 55.2 in September compared to a preliminary reading of 55.4, versus a reading of 55.7 in August. The S&amp;P Global U.S. composite PMI sipped to 54 in September versus a preliminary reading of 54.4, and versus 54.6 in August.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, materials, and real estate stocks recording the biggest losses on Thursday. However, energy and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 185 points to 42,011.59 on Thursday. The S&amp;P 500 fell 0.17% to 5,699.94, while the Nasdaq Composite slipped 0.04% at 17,918.47 during Thursday's session.
Investors are awaiting earnings results from Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 67.2, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 69.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41172520/wall-streets-most-accurate-analysts-spotlight-on-3-defensive-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Defensive Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Long Ideas

Pre-Market Outlook

APOG

LEVI

Dow Tumbles Nearly 200 Points Amid Growing Middle East Concerns: Investor Optimism Declines, Fear Index Remains In 'Greed' Zone

ByteDance, the company behind TikTok, has introduced a powerful web scraper named &#8220;Bytespider.&#8221; Launched in April, Bytespider is recognized as one of the most aggressive data collectors online, outpacing other major tech firms significantly in terms of data collection speed.
What Happened: Research conducted by Kasada, a bot management company, and Dark Visitors, a group monitoring scraper bots, confirmed Bytespider&#8217;s activity. According to Kasada CEO Sam Crowther, Bytespider collects data 25 times faster than GPTbot, utilized by OpenAI for ChatGPT, and 3,000 times faster than ClaudeBot from Anthropic, Fortune <a href="https://fortune.com/2024/10/03/bytedance-tiktok-bytespider-scraper-bot/">reported</a> on Friday.
Despite the looming threat of a U.S. ban on TikTok, ByteDance continues its aggressive data collection strategy. President Joe Biden has demanded the sale or shutdown of TikTok due to national security concerns. Bytespider&#8217;s disregard for robots.txt, a voluntary code that advises scrapers to avoid certain websites, adds to the controversy.
See Also: <a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates To</a>
The increase in web scraping is linked to ByteDance&#8217;s development of a new large language model (LLM) to improve TikTok&#8217;s search capabilities. A recent update to TikTok&#8217;s search function allows real-time keyword searches for ads, potentially enhancing ad visibility.
ByteDance has yet to respond to Benzinga&#8217;s queries.
Why It Matters: The aggressive web scraping by ByteDance follows a trend among major tech companies. In June, <a href="https://www.benzinga.com/news/24/06/39443965/openai-and-anthropic-allegedly-ignore-web-scraping-rules-stirring-controversy">OpenAI and Anthropic</a> were reported to have ignored web scraping rules, bypassing the robots.txt protocol to gather free data for AI model training. This practice has sparked controversy, highlighting the tension between AI development and data privacy.
In August, NVIDIA faced scrutiny for <a href="https://www.benzinga.com/news/24/08/40188595/nvidia-reportedly-involved-in-extensive-video-scraping-involving-popular-tech-youtuber-marques-brown">scraping videos from platforms</a> like YouTube to train its AI models. This revelation raised concerns about content creators&#8217; rights and the ethical implications of using publicly available data without explicit consent.
Similarly, in September, <a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t">Microsoft&#8217;s </a><a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t">owned</a><a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t"> LinkedIn</a> was criticized for using user data for AI training without updating its terms of service, particularly affecting users in the U.S. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says &#8216;OpenAI Is Evil&#8217; After ChatGPT-Parent Reportedly Asked Investors Not To Invest In Rivals, Including xAI: Ark&#8217;s Cathie Wood Says It&#8217;s &#8216;Not True&#8217; (Updated)</a></li>
</ul>
Photo by XanderSt on 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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

General

With TikTok Ban Looming Large, Parent ByteDance's Web Scraping Bot Draws Attention For Being More Aggressive Than The One ChatGPT Uses: Report

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been the <a href="https://www.benzinga.com/general/education/24/10/41163360/if-you-invested-1-000-in-facebook-stock-when-mark-zuckerberg-changed-name-to-meta-heres-how-muc">second best-performing Magnificent 7 stock this year</a> after artificial intelligence stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The stock rally has nudged its co-founder and CEO, Mark Zuckerberg, to be higher on the list of the world&#8217;s wealthiest people.
Zuckerberg Pips Past Bezos: Bloomberg&#8217;s updated billionaire list shows Zuckerberg rising in rank and becoming the world&#8217;s second-richest person after Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk. The loser was Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos, who had stepped down from an active management role in the company that he founded in 1994. Bezos ceded his second position to the Meta CEO amid the relative outperformance of the social-media giant&#8217;s stock.
Here&#8217;s how the two stocks fared this year:
<figure class="wp-block-image size-large is-resized wp-duotone-unset-1"><img loading="lazy" decoding="async" width="1024" height="440" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6-1024x440.png" alt="" class="wp-image-579923" style="width:924px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6-1024x440.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6-300x129.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6-768x330.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6-1536x660.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04011143/image-2-6.png 1890w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart Courtesy of Benzinga Pro
Meta has gained over 64% for the year-to-date period compared to Amazon&#8217;s roughly 20% gain. After moving almost in tandem with Meta, albeit with a more modest gain, for much of the year, Amazon has clearly begun diverging since late September.
Zuckerberg&#8217;s net worth is $206 billion, slightly higher than Bezos&#8217; $205 billion. More importantly, the Meta CEO is only $50 billion in deficit versus Musk&#8217;s wealth. It could come as no surprise if he soon takes over the crown from Musk, given Meta&#8217;s potential versus Tesla&#8217;s pitfalls. Tesla is still struggling to turn around its core electric-vehicle business to trend-like growth and promising opportunities such as full self-driving technology and robotaxi are expected only to be long-term drivers.
Be it Zuckerberg or Bezos, much of their wealth is tied to stock ownership in the respective companies they founded. Stock vagaries could therefore play a key role in deciding their fortunes.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-facebook-stock">How To Buy Meta (Formerly Facebook) Stock</a>
What&#8217;s Firing Up Facebook Parent: Meta was among the COVID-19 play that benefited from the work-from-home and lockdown restrictions that were in place then. The pandemic rally stalled in Sept. 2021, and the stock began a year-long secular downtrend until early November 2022. Declines in both top and bottom-line figures amid an ad spending slowdown, investment into the loss-making Reality Labs division, Apple‘s privacy initiatives, and a competitive threat from TikTok all served as drags.
Meta&#8217;s management though was quick with resuscitation measures and unveiled strategic plans to streamline operations and navigate through adverse conditions. In Nov. 2022, the company announced a significant workforce reduction, eliminating 11,000 employees as the initial step.
In a letter to employees detailing the layoffs, CEO&nbsp;Mark Zuckerberg&nbsp;outlined additional measures, including desk sharing for remote workers, infrastructure review for spending cuts, and a hiring freeze until the first quarter of 2023. The market responded positively to these resuscitation measures, leading to a rebound in Meta's stock from its six-year low.
Meta&#8217;s AI pivot and the Metaverse project also helped rekindle investor interest in the stock. After bottoming in Oct. 2022, the stock has been on a broader steady uptrend. The Meta Connect 2024 held in late September has proved salubrious for the stock. The company announced AI-driven chatbots, an update to its Llama large-language model, the latest Ray-Ban smart glasses with improved camera functionality, voice controls, and deeper integration with AI, Meta Quest 4, the next-generation virtual reality headset, and the Orion augmented reality glasses.
Amazon&#8217;s Lags: Amazon, though operating in multiple technology areas, still derives the bulk of its revenue from its core e-commerce business, with much of the revenue collected from North America. The prospects of the business are strongly tied to consumer spending, which has remained uncertain in the current economic cycle.
The company has built up, or integrated scores of other businesses, including its AWS cloud computing business, Zoox, a self-driving car division, Kuiper Systems, a satellite Internet provider, and Amazon Lab126, a computer hardware R&amp;D provider. Its subsidiaries include Ring, Twitch, IMDb, and brick-and-mortar grocery retailer Whole Foods Market.
In a note released on Thursday, Morgan Stanley analyst Brian Nowak sounded out near-term risks. <a href="https://www.benzinga.com/news/24/10/41169322/amazons-profitable-essential-merchandise-efficiency-gains-set-to-drive-growth-analyst">&#8220;We still see tactical risk to 4Q EBIT guide </a>as AMZN invests to drive its faster-growing, lower-margin essentials business through a competitive holiday,&#8221; the analyst said.
Nowak, however, committed to the stock medium- and long-term. He said he would buy any weakness as he believes the company will make low-priced essentials profitable and will pursue a cost structure that provides visibility into a path to $8-$9 of free cash flow.
Meta closed Thursday&#8217;s session 1.74% higher at $582.77, while Amazon fell 1.52% to $181.96, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data. </a>Amazon stock has been on a seven-session losing streak amid worries concerning the holiday season after the company&#8217;s temporary holiday hiring plan revealed a flattish trend.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41111978/dockworkers-strike-will-it-impact-your-holiday-shopping">Dockworkers Strike: Will It Impact Your Holiday Shopping?</a></li>
</ul>
Image via Shutterstock

Equities

Education

AMZN

NVDA

TSLA

Mark Zuckerberg Bulldozes Past Jeff Bezos To Become World's 2nd Richest Person As Meta Stock Soars: Is Musk's Top Spot In Jeopardy?

An Australian court has upheld a $418,000 fine against Tesla and SpaceX CEO Elon Musk&#8217;s social media platform X, formerly Twitter, for not complying with a regulator&#8217;s request for information on <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">anti-child-abuse practices</a>.
What Happened: The Federal Court of Australia&nbsp;confirmed the fine against X, which had contested the penalty, reported Reuters on Friday.
The court ruled that X was obligated&nbsp;to respond to a notice&nbsp;from the eSafety Commissioner, an&nbsp;internet safety regulator, seeking details about measures to combat&nbsp;child sexual exploitation material on the platform.
X had argued that it was not obligated&nbsp;to respond to the notice&nbsp;in early 2023 as it had been incorporated&nbsp;into a new Musk-controlled corporate&nbsp;entity, thereby eliminating liability.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a>
Following the verdict, eSafety Commissioner Julie Inman Grant&nbsp;said,&nbsp;&#8220;Had X Corp&#8217;s argument been&nbsp;accepted by the Court it&nbsp;could have set the concerning&nbsp;precedent that a foreign company&#8217;s&nbsp;merger with another foreign company&nbsp;might enable it to avoid&nbsp;regulatory obligations in Australia.&#8221;
The eSafety Commissioner has also initiated civil proceedings against X due to&nbsp;its noncompliance, the report noted.
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: This development is part of a larger narrative involving the Australian government&#8217;s increasing scrutiny of social media platforms.
In April 2024, Musk responded&nbsp;to Australian Prime Minister Anthony Albanese&#8217;s criticism over <a href="https://www.benzinga.com/news/24/04/38368734/elon-musk-hits-back-at-australias-leader-amid-row-over-removal-of-violent-video-from-x-does-the-pm-t">removing a violent video</a> from X.
The following month, he criticized&nbsp;the Australian government&#8217;s call <a href="https://www.benzinga.com/news/24/05/38774256/elon-musk-slams-australian-government-for-saying-social-license-is-required-amid-tussle-with-x-doubt">for a &#8220;social license&#8221; for social media</a> platforms.
Meanwhile, Australian Prime Minister Albanese has targeted Mark Zuckerberg-led Meta Platforms Inc. too for its behavior and urged the social media giant to continue <a href="https://www.benzinga.com/news/24/06/39562479/australian-pm-slams-meta-as-arrogant-and-irresponsible-urges-payment-to-news-outlets-they-should-ful">paying local media organizations</a> for their content.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says &#8216;OpenAI Is Evil&#8217; After ChatGPT-Parent Reportedly Asked Investors Not To Invest In Rivals, Including xAI: Ark&#8217;s Cathie Wood Says It&#8217;s &#8216;Not True&#8217;</a></li>
</ul>
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.

Social Media

Media

Elon Musk's X Fined $418K After Failing To Escape Anti-Child Abuse Probe By Citing Merger

Mining revenue in September 2024 amounted to&nbsp;$2.2 million&nbsp;down from&nbsp;$2.3 million&nbsp;in August 2024. Mining margin for the&nbsp;third quarter&nbsp;was below&nbsp;10%, lower than the&nbsp;second quarter&nbsp;as a result of the lower hash price realized in the&nbsp;third quarter&nbsp;versus the&nbsp;second quarter, and higher power prices. As at 30 September 2024, the Company held 4 BTC equivalent.

ARBK

Argo Blockchain Reports Bitcoin Mining Revenue Of $2.2M For September 2024 Down From $2.3M In August 2024

An upcoming documentary, revolving around the identity of Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mysterious creator, Satoshi Nakamoto, has piqued interest in the cryptocurrency world.
What Happened: A captivating trailer of the documentary titled &#8216;Money Electric: The Bitcoin Mystery&#8221; was dropped by HBO&#8217;s official social channels, claiming to &#8220;unravel&#8221; the &#8220;internet&#8217;s biggest mystery.&#8221;
The documentary included extracts from an interview with Blockstream CEO Adam Back, who <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">claimed to have had email correspondence with the pseudonymous creator</a> and was previously speculated to be Nakamoto himself.
Popular theories like collaboration with the government and Satoshi being not one but a group of people were also featured in the 2:30-minute trailer.
<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">In the future of money, who holds the power? The <a href="https://twitter.com/HBO?ref_src=twsrc%5Etfw">@HBO</a> Original Documentary <a href="https://twitter.com/hashtag/MoneyElectric?src=hash&amp;ref_src=twsrc%5Etfw">#MoneyElectric</a>: The Bitcoin Mystery premieres October 8 on <a href="https://twitter.com/StreamOnMax?ref_src=twsrc%5Etfw">@StreamOnMax</a>. <a href="https://t.co/3gEwTqYaAq">pic.twitter.com/3gEwTqYaAq</a>
&mdash; HBO Documentaries (@HBODocs) <a href="https://twitter.com/HBODocs/status/1841863278709915739?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a>
Why It Matters: The identity of Satoshi Nakamoto has been a subject of intense speculation and intrigue since the inception of Bitcoin. 
Apart from Back, Australian computer scientist&nbsp;Craig Wright, late American software developer Hal Finney, and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) creator Charlie Lee&#8216;s names have been <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">suspected of being Nakamoto</a>.
That said, in July earlier this year, Wright, who had himself claimed to be Nakamoto, was <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39808275/craig-wright-adds-disclaimer-to-website-admitting-hes-not-bitcoin-founder-satoshi-nakamoto">ordered by a UK judge to publicly deny</a> being the Bitcoin founder.
As reported in a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37342088/what-is-going-on-with-bitcoin-founder-satoshi-nakamoto">Benzinga article</a> from February 2024, Nakamoto&#8217;s true identity remains a closely guarded secret, with the pseudonymous creator currently ranked as the 26th richest person in the world.
Nakamoto is purported to have&nbsp;<a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition" target="_blank" rel="noreferrer noopener">1.1 million</a>&nbsp;Bitcoin as of February 2024, according to on-chain analytics platform Arkham Intelligence, making him one of the richest people in the world.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,155.33, up 0.04% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo via Shutterstock
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41178298/peter-schiff-compares-bitcoin-investors-to-frogs-on-the-boil-how-much-longer-will-you-let-">Peter Schiff Compares Bitcoin Investors To Frogs On The Boil: &#8216;How Much Longer Will You Let The Water Temperature Rise Before Jumping Out Of The Pot?&#8217;</a></li>
</ul>

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

Cryptocurrency

$BTC

$LTC

Satoshi Nakamoto About To Be Unveiled? Bitcoin Creator's Identity Focal Point Of Upcoming HBO Documentary

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) sold <a href="https://www.benzinga.com/markets/equities/24/10/41144884/fords-us-sales-edge-up-in-q3-ev-sales-continue-to-climb">23,509 electric vehicles</a> in the three months through the end of September, marking a jump of 12.2% from the corresponding period last year, despite a sales slump for its Mustang Mach-E SUV.
What Happened: Mustang Mach-E was Ford&#8217;s best-selling EV in the quarter but sales dropped by nearly 10% from the corresponding quarter last year. 
The drop in sales of the Mach-E was balanced by a rise in sales of its other two EV offerings in the U.S., namely the F-150 Lightning and the E-transit electric van. While the Lightning electric pickup truck saw its sales rise by 104.5% in the third quarter, the E-transit vans saw sales jump by 13%. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Model</td>
<td>Q3 Sales</td>
</tr>
<tr>
<td>Mustang Mach-E</td>
<td>13,392</td>
</tr>
<tr>
<td>F-150 Lightning</td>
<td>7,162</td>
</tr>
<tr>
<td>E-Transit</td>
<td>2,955</td>
</tr>
<tr>
<td>Total</td>
<td>23,509</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Ford</figcaption></figure>
However, Ford sold 23,957 electric vehicles in the second quarter in the U.S., implying sales fell 1.9% quarter-on-quarter. 
Why It Matters: Ford&#8217;s rival General Motors sold 32,095 electric vehicles in the last quarter on the back of its newer offerings. The company&#8217;s best-selling EV in the period was the <a href="https://www.benzinga.com/news/24/10/41136007/gms-ev-sales-rise-in-q3-on-the-back-of-new-models-chevrolet-equinox-ev-tops-charts">Chevrolet Equinox EV</a> which started sales in May 2024.
Ford, in comparison, has an aged and smaller lineup. 
In August, Ford said that it is&nbsp;<a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand" target="_blank" rel="noreferrer noopener">killing its plans to build a three-row electric SUV</a>, initially slated for production in 2025. The company also postponed its plans for a new electric version of its F-150 pickup to 2027 and said it will start making a new electric commercial van in 2026.
More details on the company's EV strategy are now expected in the first half of 2025.
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>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41135581/tesla-discontinues-cheapest-model-3-variant-entry-level-trim-now-starts-at-42-490" target="_blank" rel="noreferrer noopener">Tesla Discontinues Cheapest Model 3 Variant: Entry Level Trim Now Starts At $42,490</a></li>
</ul>
Photo courtesy: Ford

Ford's US EV Sales Gather Pace In Q3 Even As Its Best-Seller Mustang Mach-E SUV Slows Down

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Apogee Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) to report quarterly earnings at $1.23 per share on revenue of $335.29 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Apogee shares rose 0.1% to $68.50 in after-hours trading.</li>
<li>Smart Sand, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SND#NASDAQ">SND</a>) declared a special cash dividend of 10 cents per share and authorized a $10 million buyback. Smart Sand shares jumped 14% to $2.28 in the after-hours trading session.</li>
<li>Analysts expect Lifecore Biomedical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFCR#NASDAQ">LFCR</a>) to post a quarterly loss at 47 cents per share on revenue of $23.18 million for the latest quarter. The company will release earnings after the markets close. Lifecore Biomedical shares fell 5.3% to close at $4.7050 on Thursday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Martin Midstream Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMLP#NASDAQ">MMLP</a>) agreed to be acquired by Martin Resource Management. Martin Midstream Partners shares jumped 9.7% to $3.95 in the after-hours trading session.</li>
<li>AgEagle Aerial Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NYSE">UAVS</a>) announced a reverse stock split of 1-for-50 shares of common stock. AgEagle Aerial Systems shares fell 5.4% to $0.1150 in the after-hours trading session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41172520/wall-streets-most-accurate-analysts-spotlight-on-3-defensive-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Defensive Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

LFCR

MMLP

UAVS

Apogee Enterprises, Smart Sand And 3 Stocks To Watch Heading Into Friday

A heated exchange between prominent economist Justin Wolfers and Sen. J.D. Vance (R-Ohio) has reignited the debate over immigration&#8217;s economic impact, highlighting conflicting interpretations of <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">federal data and academic research</a>.
What Happened: The dispute began when Vance, former President Donald Trump&#8216;s running mate, cited studies suggesting immigration increases housing costs and strains local budgets. Wolfers, a professor at the University of Michigan, swiftly countered, accusing the senator of misleading the public by selectively quoting from a Congressional Budget Office (CBO) report.
&#8220;Senator, you&#8217;re misleading folks again,&#8221; Wolfers wrote on X, formerly Twitter. &#8220;I just read the CBO report you recommend. It actually says that an immigration surge boosts federal revenues quite dramatically, and has only a small effect on mandatory spending and interest.&#8221;
At the heart of the disagreement is a CBO study on immigration&#8217;s fiscal effects. Vance highlighted a portion suggesting increased state and local government spending due to immigration. However, Wolfers argued this quote was taken out of context, emphasizing that the report primarily focused on federal budget impacts.
<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">Senator, you&#39;re misleading folks again. I just read the CBO report you recommend. It actually says that an immigration surge boosts federal revenues quite dramatically, and has only a small effect on mandatory spending and interest. <a href="https://t.co/GSAEdrUK8T">https://t.co/GSAEdrUK8T</a> <a href="https://t.co/L1SuvvVqwv">pic.twitter.com/L1SuvvVqwv</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1841565679503474974?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;The CBO study @JDVance cites analyzes how immigration improves the federal budget,&#8221; Wolfers explained. &#8220;Yet he pulls a misleading quote, talking about the effects of state and local budgets and ignoring the (likely larger) federal govt impacts.&#8221;
Vance&#8217;s initial <a href="https://x.com/JDVance/status/1841338114897293712">post</a> included references to other studies, including one published in the Journal of Housing Economics, which suggested immigration inflows correlate with increased rents and house prices in metropolitan areas. 
He also cited remarks by Federal Reserve Governor Michelle Bowman on potential upward pressure on rents due to immigration in areas with low affordable housing inventory.
Wolfers, however, maintained that the overall economic picture painted by the CBO report was far more positive. &#8220;My conclusions: First, a surge of immigrants will dramatically reduce the federal deficit. (Vance ignores this.) Second, I concede that it will likely raise state and local deficits. (He quotes this) In sum: It seems likely that the former is a bit larger than the latter,&#8221; Wolfers stated.
<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">My conclusions: First, a surge of immigrants will dramatically reduce the federal deficit. (Vance ignores this.) Second, I concede that it will likely raise state and local deficits. (He quotes this) In sum: It seems likely that the former is a bit larger than the latter.
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1841565692031861043?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The economist urged the public to read the full CBO report, available at cbo.gov, to gain a comprehensive understanding of the issue. He emphasized the importance of considering both federal and local impacts when evaluating immigration&#8217;s economic effects.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40752387/treasury-yields-plunge-tlt-etf-tops-100-vix-spikes-as-50-basis-point-rate-cut-odds-soar-in-respo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Treasury Yields Plunge, TLT ETF Tops $100, VIX Spikes As 50-Basis-Point Rate Cut Odds Soar In Response To Jobs Data</a>
Why It Matters: The controversy unfolds against the backdrop of ongoing national discussions about immigration policy, housing affordability, and fiscal responsibility. With the 2024 presidential election approaching, these issues are likely to remain at the forefront of political and economic debates.
This exchange comes amid heightened political discussions on immigration, particularly following the recent vice-presidential debate between Vance and Minnesota Governor Tim Walz. 
During the debate, Vance and Walz discussed various issues, including immigration policies and their economic implications. The debate, held in New York City, was part of the 2024 election cycle and <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">followed a presidential debate</a> where Democratic nominee Kamala Harris emerged victorious over Trump.
Previously, Wolfers had expressed concerns about the <a href="https://www.benzinga.com/news/24/08/40411962/justin-wolfers-warns-of-inflationary-impact-of-trumps-policies-disputes-jd-vances-promise-of-afforda">inflationary effects of Trump&#8217;s economic policies</a>, disputing Vance&#8217;s promises of affordable groceries and housing. 
Wolfers has been vocal about his skepticism regarding the competency of Trump&#8217;s economic team, describing it as &#8220;the least impressive list of economists in history&#8221; and criticizing Trump&#8217;s approach to policy-making.
Read Next: 
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41122944/east-coast-dockworkers-strike-how-labor-dispute-impacts-economy-logistics-companies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">East Coast Dockworkers Strike: Impact on Walmart, Target, Maersk, and Other Logistics Companies</a>
Image via Wikimedia Commons
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

JD Vance Gets Slammed Over Misleading Immigration Claims By Leading Economist: 'Surge Of Immigrants Will Dramatically Reduce The Federal Deficit'

Renowned economist Claudia Sahm, the inventor of Sahm&#8217;s Rule, offered her perspective on the complex economic landscape facing the Federal Reserve. As the central bank navigates through a potential easing cycle, various factors including labor strikes and natural disasters are <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">complicating the interpretation of economic data</a>.
What Happened:&nbsp;Sahm highlighted the potential impact of ongoing strikes on labor market data. &#8220;If the strike would go on, that can be relatively easy to see in the data,&#8221; she explained in a recent interview with CNBC Overtime. 
The economist drew parallels to recent hurricane events, noting the challenges in isolating their effects on labor market statistics. &#8220;We&#8217;ve been dealing with [hurricanes] the last couple months, trying to parse those in and out of the labor market data,&#8221; Sahm stated.
Despite these potential disruptions, Sahm suggested that the current month&#8217;s data might be relatively &#8220;clean,&#8221; free from major events that could skew interpretation. However, she emphasized the importance of upcoming reports, as they will reflect conditions after the Federal Reserve began its easing cycle.
&#8220;The data we&#8217;re getting comes to us&#8230; We measured before the Fed began their easing cycle,&#8221; Sahm noted. She added, &#8220;We had seen those 50 basis points, so you throw that in the next two [reports], it&#8217;s going to be very interesting to get any kind of sign on how their interest rates are affecting the labor market.&#8221;
The coming weeks are poised to be crucial for economic analysis. With one more job report expected before the next Federal Open Market Committee meeting, analysts will be closely watching for signs of how recent events might impact the data.
Sahm warned of potential complications, mentioning the &#8220;devastating Hurricane Helene&#8221; and ongoing labor disputes. &#8220;We have a big port strike finishing its third day,&#8221; she added, highlighting the diverse factors that could influence economic indicators. Sahm succinctly put it as, &#8220;It&#8217;s going to be messy.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Former Fed economist <a href="https://twitter.com/Claudia_Sahm?ref_src=twsrc%5Etfw">@Claudia_Sahm</a> on whether Hurricane Helene and the ports labor strike could impact upcoming jobs report. <a href="https://t.co/sTX1iwkO6J">pic.twitter.com/sTX1iwkO6J</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1841941364503707857?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See Also: <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">Port Strike Ends, Workers In A Tentative Deal Return To Work Friday</a></figcaption></figure>
Why It Matters: The recent end of a <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">port strike</a> on the East and Gulf coasts, following a tentative agreement, resolved a labor dispute that threatened supply chains. The deal included a significant wage increase and improved conditions, which may influence labor market dynamics.
Meanwhile, <a href="https://www.benzinga.com/news/24/10/41126631/hurricane-helene-devastation-the-latest-on-damage-companies-affected">Hurricane Helene</a> caused extensive damage, affecting utility services and leaving many without power. 
The upcoming <a href="https://www.benzinga.com/trading-ideas/previews/24/10/41170128/jobs-report-preview-could-september-labor-data-shift-feds-interest-rate-path">September jobs report</a> is crucial as it may influence the Federal Reserve&#8217;s interest rate decisions. Economists predict a slight decline in nonfarm payrolls, which could impact the Fed&#8217;s strategy.
Read Next: 
<a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a>
Image via Dall-E 3
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>

Federal Reserve

Sahm's Rule Inventor Warns Of 'Messy' Economic Data As Fed Treads Easing Cycle Amid Labor Disputes And Hurricane Helene Impact

TWKS

Reported Earlier, Thoughtworks And AI Singapore Team Up To Advance Reliability Of AI And Its Adoption

U.K.-based fintech company&nbsp;Revolut&nbsp;has called on Mark Zuckerberg-led&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to help cover the costs of reimbursing victims of fraud.
What Happened: On Thursday, Woody Malouf, Revolut&#8217;s head of financial crime, dismissed Meta&#8217;s initiative to &#8220;launch a data-sharing partnership with U.K. banks and financial institutions to prevent fraud,&#8221; calling it insufficient.
Malouf argued that tech platforms like Meta bear&nbsp;no responsibility in reimbursing victims,&nbsp;thus lacking incentive to tackle the issue.
&#8220;These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. A commitment to data sharing, albeit needed, simply isn't good enough,&#8221; he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates To Draw Parallels Between Javier Milei And Trump: &#8216;Vinod Is Just Actually Not Smart&#8217;</a>
According to a new report from Revolut released on the same day, 69% of scams reported by U.K. customers in the first half of this year originated from Meta platforms, including Facebook and Instagram.
This marked an increase from 67% in the second half of last year.
&#8220;We are confident in the steps the UK government is taking to tackle fraud, but what is urgently needed now is for Meta and other social media companies to commit to supporting victims of fraud in the same way financial institutions do. Their silence on this issue says it all,&#8221; said Malouf.
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: This is not the first time Meta has faced criticism for its role in fraud cases.
Earlier this year,&nbsp;<a href="https://www.benzinga.com/news/24/03/37554106/facebook-and-instagrams-marketplace-practices-under-ftc-radar-in-south-korea-for-user-safety-slip-up">South Korea&#8217;s antitrust watchdog</a> considered sanctions against Meta&nbsp;due to alleged shortcomings in consumer protection on its online marketplaces.
In December 2022,&nbsp;Zuckerberg was sued&nbsp;for his platform&#8217;s role in a <a href="https://www.benzinga.com/markets/cannabis/22/12/29991373/mark-zuckerberg-sued-for-aiding-and-abetting-aggravated-marijuana-investment-fraud">marijuana investment scheme</a>.
As the internet continues transforming society and how people interact,&nbsp;<a href="https://www.benzinga.com/markets/emerging-markets/22/07/28111725/the-rise-of-trust-and-safety-on-social-media-platforms-and-marketplaces">trust and safety on social media platforms</a> and marketplaces&nbsp;have become increasingly important.
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>.
Image via Shuttestock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a></li>
</ul>
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.

Mark Zuckerberg's Meta Asked To Foot The Bill Partly In Fraud Cases By UK Fintech: 'These Platforms Share No Responsibility'

<ul>
<li>Preclinical proof-of-concept data supports CD3 Switch-DARPin platform for T cell engagers with enhanced function in solid tumors</li>
<li>Biomarker data on completed phase 1 study of MP0317 (FAP x CD40) shows intended and marked tumor microenvironment modulation</li>
</ul>

MOLN

Molecular Partners' Novel CD3 Switch-DARPin Platform To Be Highlighted At SITC 2024 With Proof-Of-Concept Data

El Salvador President Nayib Bukele discussed the country's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-centric policy with Argentina Vice President Victoria Villaruel during a recent official visit.
What happened: A video reposted by the vice president on X showed the two leaders sitting on the opposite side of a table, with Villaruel greeting Bukele on his visit to Argentina.
A translated excerpt from the interaction quoted Villaruel as saying, "I want to take this short opportunity to ask you about Bitcoin."
<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">&#x1f7e0; Vice president of &#x1f1e6;&#x1f1f7;Argentina &quot;Victoria Villaruel&quot; talks about Bitcoin and Volcano bonds with <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> h/t <a href="https://twitter.com/Bitcoinsearch?ref_src=twsrc%5Etfw">@Bitcoinsearch</a>, <a href="https://twitter.com/AnonimoSV503?ref_src=twsrc%5Etfw">@AnonimoSV503</a> <a href="https://t.co/WJxXqYTQLR">pic.twitter.com/WJxXqYTQLR</a>
&mdash; La Crypta &#x1f9d9;&#x200d;&#x2642;&#xfe0f; (@LaCryptaOk) <a href="https://twitter.com/LaCryptaOk/status/1841182687941574768?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The vice president said that Bitcoin was something that she found particularly interesting and expressed a desire to understand El Salvador's Bitcoin bond project.&nbsp;
In response, Bukele said he would be happy to talk about the several Bitcoin-focused initiatives taken by his administration.
Later, the Argentine vice president posted a photo of the meeting on X, revealing that the two leaders talked about Bitcoin implementation and the creation of the National Commission of Digital Assets, the regulatory authority overseeing the digital assets ecosystem in El Salvador.
<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">Visita del Presidente de El Salvador <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> al Senado de la Nación Argentina. Pudimos conversar sobre la implementación del Bitcoin, la creación de la CNAD (Comisión Nac. de Activos Digitales) que es el primer organismo que da marco legal y regulación a los criptoactivos. <a href="https://t.co/W48VhwpGDA">pic.twitter.com/W48VhwpGDA</a>
&mdash; Victoria Villarruel (@VickyVillarruel) <a href="https://twitter.com/VickyVillarruel/status/1841243336763719874?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172369/bitcoin-not-a-safe-haven-but-rising-trump-odds-could-fuel-a-rally-standard-chartered">Bitcoin &#8216;Not A Safe Haven&#8217; But Rising Trump Odds Could Fuel A Rally: Standard Chartered</a>
Why It Matters: The meeting held significance considering the pro-Bitcoin sentiment espoused by the leaders of the two countries.
El Salvador has been the pioneer in Bitcoin adoption, becoming the first country to use the apex cryptocurrency as a legal tender in 2021. Since then, it has taken several measures to make Bitcoin mainstream.
Last year, it <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36192059/el-salvadors-volcanic-bitcoin-bond-approval-sets-stage-to-build-a-crypto-city">passed a landmark legislation</a> that establishes a legal framework for a Bitcoin-backed bond dubbed "Volcano Bond." The primary purpose of the Volcano Bond is to reduce the country&#8217;s sovereign debt and <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40330518/nayib-bukeles-bitcoin-city-project-in-el-salvador-attracts-1-6b-investment-from-turkey-bas">finance the construction of the proposed "Bitcoin City</a>."
On the other hand, Argentina's Libertarian president Javier Milei has <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404161/argentina-president-javier-milei-makes-passionate-pitch-for-currency-competition-if-you-wa">praised the scarcity-driven growth model of the apex cryptocurrency</a> and dubbed it a way to return monetary power to people.
However, unlike El Salvador, Argentina has not made any significant progress with Bitcoin during his presidency.&nbsp;
Bitcoin advocates would hope the recent meeting between Bukele and Villaruel might just be the first step in this direction.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,022.74, down 0.65% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a></li>
</ul>

El Salvador's Nayib Bukele Educates Argentina President Javier Milei's Deputy On Bitcoin — Vice President Says Apex Crypto Interests Her A Lot

Reported Earlier, Australia Home Loans (MoM) For August 0.7% Vs. 2.5% (Revised) Prior

Elon Musk, the CEO of SpaceX and Tesla and the owner of X, has voiced his support for an event, to be held at Butler, Pennsylvania on Saturday, involving former President Donald Trump.
What Happened: Musk shared a post from Trump in which the ex-president posted an image of him at a rally in Butler shortly after having been shot at. The image had text that read &#8220;I&#8217;m Coming Back To Butler!&#8221;
Trump said his visit to the place where the attempted assassination took place on July 13, 2024, was &#8220;historic.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I will be there to support! <a href="https://t.co/nokR0g3dn1">https://t.co/nokR0g3dn1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1842048755169690103?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
It&#8217;s worth noting that Trump was the target of a <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">failed assassination attempt</a> at his Florida golf club on Sept. 15, 2024, as well.
In response to Trump&#8217;s post on X, Musk wrote, &#8220;I will be there to support!&#8221;
See Also: <a href="https://www.benzinga.com/markets/commodities/24/10/41151338/biden-the-master-oil-trader-part-iv-president-loads-up-on-millions-of-barrels-to-refill-emerg?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden The Master Oil Trader Part IV? President Loads Up On Millions Of Barrels To Refill Emergency Stash In &#8216;One Of The Best Oil Trades In History&#8217;</a>
Why It Matters: Musk&#8217;s support for Trump comes at a critical time. The former President is currently in a <a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">tight race</a> against Vice President Kamala Harris for the 2024 presidential election. Trump&#8217;s recent experiences, including the failed assassination attempt, have been a focal point in the media, with Musk and Trump even discussing the incidents in a <a href="https://www.benzinga.com/news/24/08/40328821/trump-and-musk-interview-covers-everything-from-failed-assassination-attempt-to-kamala-harriss-no-ta">widely-viewed interview</a>.
Image via Shutterstock
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

Trump Says He's Going Back To Butler, Site Of First Assassination Attempt — Elon Musk Chimes In, 'I'll Be There To Support'

YouTube, a subsidiary of Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google has erroneously banned accounts and removed channels worldwide. Now, the platform is working on reinstating them.
What Happened: On Thursday, YouTube said it is aware of the&nbsp;mistakenly&nbsp;removed channels and banned accounts&nbsp;for policy breaches.
The platform is &#8220;actively working on reinstating the&nbsp;channels&#8221; and restoring access to paid services like YouTube TV, YouTube Premium, and YouTube Music subscriptions.
<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">Hi Creators &#8211; We&#39;re aware of an issue causing some channels to be incorrectly flagged for Spam and removed. Our teams are looking into this and reinstating the channels right now &#8211; thanks so much for your patience. More information: <a href="https://t.co/xQ9AFg0woc">https://t.co/xQ9AFg0woc</a>
&mdash; TeamYouTube (@TeamYouTube) <a href="https://twitter.com/TeamYouTube/status/1841978197086245225?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41149666/nvidias-blackwell-gpu-sets-new-ai-benchmark-with-over-100-system-configurations-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Blackwell GPU Sets New AI Benchmark With Over 100 System Configurations, Analyst Says</a>
Users affected by this glitch&nbsp;have lost access to their&nbsp;YouTube accounts, preventing them from watching videos or listening&nbsp;to YouTube Music. YouTube Premium&nbsp;subscribers have also been impacted,&nbsp;with playlists and other saved&nbsp;content currently inaccessible for some.
Users across the globe, including in the U.S., Europe, and Asia, were informed of the account ban or channel removal through emails from YouTube.
<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">Did <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> just ban all of its users? I had a decade old account that only had unheard music demos on it. And there's a bunch of posts on X that are similar.
&mdash; Lofi Jason (@JasonRumley_) <a href="https://twitter.com/JasonRumley_/status/1841957213105226033?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<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"><a href="https://twitter.com/TeamYouTube?ref_src=twsrc%5Etfw">@TeamYouTube</a> <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> my youtube channel was permanently removed. for no reason. then it got put back up, but 90% of my videos are removed from the platform. i need help. because i dont want any of my hard work to go to waste. <a href="https://t.co/eacYFOoBDH">pic.twitter.com/eacYFOoBDH</a>
&mdash; Juke! (@jukeboxjukee) <a href="https://twitter.com/jukeboxjukee/status/1841972599980503087?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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.
YouTube has provided an appeal process for affected users, and several reports indicate that this has been successful in restoring account access. However, some users have reported that their playlists are still missing post-restoration.
<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">Update: They restored my deleted YouTube channel but I am still waiting an explanation on what happened. Apparently I'm not the only one, so it's pretty scary how sudden and quickly your account and channel can be taken down and deleted without warning. I'm really concerned… <a href="https://t.co/7nSjaeqU5v">pic.twitter.com/7nSjaeqU5v</a>
&mdash; Hey Hedgehog! &#x1f994; (@Hey_Hedgehog) <a href="https://twitter.com/Hey_Hedgehog/status/1841989836967969190?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<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">Tonight I received a mail from Youtube saying that my youtube channel was completely deleted because of the serious or repeated violations of the policies about spam, deceptive practices, and fraud policies. Then after 30 minutes they contacted me again apologizing &#x1f605; WHAT?
&mdash; Annie Cyborg (アニー・サイボーグ) (@anniecyborg) <a href="https://twitter.com/anniecyborg/status/1841970508134298003?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: This glitch comes on the heels of a series of controversial decisions by YouTube.
Last month, YouTube introduced &#8220;Pause ads,&#8221; a feature that displays advertisements even <a href="https://www.benzinga.com/news/24/09/40951748/there-is-no-escaping-youtube-ads-even-after-hitting-the-pause-button-disgruntled-users-cry-foul-an-a">when a video is paused</a>, leading to users&#8217; discontent.
Later that month, YouTube also restricted access to songs by renowned artists such as Adele, Bob Dylan, and Green Day in the U.S. due to a <a href="https://www.benzinga.com/news/24/09/41085603/youtube-blocks-us-access-to-adele-bob-dylan-songs-amid-rights-dispute-googles-video-platform-respond">legal dispute with the performing rights</a> organization, SESAC.
Meanwhile, earlier this week, Apple Inc. removed Juno, an unofficial YouTube app designed for Vision Pro, from its App Store following a <a href="https://www.benzinga.com/news/24/10/41134764/apple-removes-unofficial-youtube-app-for-vision-pro-from-app-store-developer-disagrees-but-says-zero">warning from Google</a>.
Photo by Sky Motion on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane: &#8216;Everyone Wants To Have The Most, And Everyone Wants To Be First&#8217;</a></li>
</ul>
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.

GOOG

GOOGL

YouTube Bug Bans Users And Removes Channels: Google's Video Streaming Service Says They Know About It

Germany is poised to vote against the European Union&#8217;s <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">proposed tariffs on Chinese electric vehicles this Friday</a>. This decision comes after significant pressure from industry leaders on German Chancellor Olaf Scholz.
What Happened: Germany had previously abstained from a non-binding vote in July concerning the European Commission&#8217;s tariff proposal. The Commission&#8217;s plan requires a qualified majority of 15 EU member states, representing 65% of the EU population, to be implemented, Reuters reported on Friday, citing people with knowledge of the matter. 
France, Greece, Italy, and Poland are reportedly in favor of the tariffs, which could push the measure through.
The Commission argues that the tariffs are necessary to counteract subsidies such as cheap loans and raw materials, aiming for a level playing field rather than excluding Chinese manufacturers. 
However, German carmakers, who derive a significant portion of their sales from China, oppose the tariffs due to fears of retaliatory actions and potential trade conflicts.
The influential German labor union IG Metall and employee representatives from major car manufacturers have issued a joint statement urging Germany to vote against the tariffs, stating, &#8220;tariffs are the wrong approach because they will not improve the competitiveness of the European automotive industry.&#8221;
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been granted provisional approval by <a href="https://www.benzinga.com/news/24/07/39640029/teslas-giga-berlin-expansion-gets-environmental-authority-approval-after-chancellor-scholz-voiced-ai">German authorities to expand its Gigafactory</a> near Berlin, a key move that underscores Tesla&#8217;s growing presence in Europe&#8217;s EV market. 
The German Automotive Industry Association (VDA) reports that 1.27 million battery electric and plug-in hybrid vehicles were manufactured in Germany in 2023, making it the second-largest EV producer globally, behind China. 
Although China dominates global EV output, most of its vehicles are sold domestically, whereas 76% of German EVs are exported, highlighting Germany&#8217;s pivotal role in the international EV market.
Germany&#8217;s carmakers are renowned for their engineering excellence, with brands like Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), which owns ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, and Porsche; Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>); and Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), which owns BMW, MINI, and Rolls-Royce. 
See Also: <a href="https://www.benzinga.com/news/24/10/41161763/european-telecom-giants-threaten-legal-action-against-elon-musks-starlink-over-potential-fcc-rule-ch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">European Telecom Giants Threaten Legal Action Against Elon Musk&#8217;s Starlink Over Potential FCC Rule Changes</a>
Why It Matters: The European Union&#8217;s decision on tariffs for Chinese electric vehicles has been a contentious issue, with potential repercussions for international trade. The EU aims to protect its automobile industry from the influx of cheaper Chinese EVs, which <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">accounted for 54% of total EV imports</a> to the EU in 2023.
However, this protectionist stance could spark a broader trade war with China, jeopardizing the EU&#8217;s export-dependent companies and its EV targets.
China has already approached the World Trade Organization regarding similar tariffs imposed by Canada, highlighting the potential for <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">escalating trade tensions</a>. China&#8217;s commerce minister has warned that the EU&#8217;s tariffs could significantly disrupt trade, particularly with Germany. 
Additionally, Spain&#8217;s Prime Minister Pedro Sánchez has called for a <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">reevaluation of the EU&#8217;s stance</a>, emphasizing the need for compromise to avoid further trade disputes.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41169516/tesla-recalls-27-185-cybertruck-vehicles-over-rearview-camera-delay?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Recalls 27,185 Cybertruck Vehicles Over Rearview Camera Delay</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Eurozone

BMWYY

MERCEDES BENZ GROUP AG by Mercedes Benz Group AG

MBGAF

VWAGY

Germany, Home To Mercedes And BMW, Set To Oppose EU Tariffs On Chinese EVs: Report

ChampionX Non-GAAP EPS of $0.37 misses by $0.10, revenue of $893.27M misses by $58.54M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
ChampionX (NASDAQ:<a href="https://investorplace.com/stock-quotes/chx-stock-quote/">CHX</a>) just reported results for the second quarter of 2024.<ul><li>ChampionX reported earnings per share of 37 cents. This was below the analyst estimate for EPS of 46 cents.</li><li>The company reported revenue of $893.27 million.</li><li>This was 6.88% worse than the analyst estimate for revenue of $959.29 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/chx-stock-earnings-championx-for-q2-of-2024/">CHX Stock Earnings: ChampionX Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CHX Stock Earnings: ChampionX Misses EPS, Misses Revenue for Q2 2024

Invesco Small Cap Growth Fund Q2 2024 Review

ChampionX Corporation declares $0.095 dividend

Tracking George Soros's 13F Portfolio - Q2 2024 Update

Warning: CHX is at high risk of performing badly

As supply disruptions and market shifts could potentially lead to an increase in oil prices, it's worth considering investments in stable energy stocks Energy Transfer LP (ET), ChampionX Corporation (CHX), and Secure Energy Services (SECYF). These companies are showing good growth momentum in the current landscape. Read on… Oil prices might see growth owing to supply disruptions and changing market dynamics. To capitalize on this trend, one could watch out for shares of solid energy stocks Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), ChampionX Corporation (<a href="https://stocknews.com/stock/CHX/">CHX</a>), and Secure Energy Services Inc. (<a href="https://stocknews.com/stock/SECYF/">SECYF</a>), which are currently showing upward growth momentum.
After experiencing a prolonged downturn, analyst Giovanni Staunovo from UBS suggests that the decline in U.S. crude oil prices could be attributed to traders' skepticism regarding OPEC's capacity to sustain production cuts amid reduced price thresholds.
However, U.S. crude oil prices experienced a slight increase after Hurricane Francine <a href="https://www.cnbc.com/2024/09/12/crude-oil-prices-today.html?msockid=3d25e60d37586a5a314ff2f5360a6b24">disrupted oil production</a> in the Gulf of Mexico before making landfall in Louisiana. The Bureau of Safety and Environmental Enforcement reports that more than 730,000 barrels per day of Gulf oil production are currently shut-in.
UBS now forecasts that oil prices will rise in the short term, with Brent crude expected to exceed $80 per barrel in the coming months.
On another note, the International Energy Agency (IEA) has adjusted its global oil demand growth forecast for 2024 to <a href="https://www.iea.org/reports/oil-market-report-september-2024">900,000 barrels per day</a>, down from 2.1 million barrels per day. This reduction is attributed to a significant slowdown in Chinese oil consumption, which is anticipated to grow by only 180,000 barrels per day this year.
But despite the IEA's downward revision, OPEC <a href="https://oilprice.com/Energy/Crude-Oil/IEA-Slashes-Oil-Demand-Growth-Forecast.html">remains more optimistic</a> about Chinese and global oil consumption growth for the year. OPEC's outlook suggests continued confidence in the resilience of oil demand despite broader economic uncertainties and shifts towards alternative fuels.
Considering these trends, let's examine the fundamentals of three energy stocks that continue to show upward momentum, starting with #3.
Stock #3: Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET owns and manages a diversified portfolio of energy assets, including over 130,000 miles of pipelines and associated infrastructure. Its primary operations involve natural gas midstream services, intrastate and interstate transportation and storage of natural gas, crude oil, natural gas liquids, refined product transportation, and terminalling.
On July 16, ET and Sunoco <a href="https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-and-sunoco-announce-strategic-permian-basin">announced a joint venture</a> to merge their Permian Basin crude oil and water gathering assets, with ET holding a 67.5% stake and serving as the operator.
The venture, managing over 5,000 miles of pipelines and 11 million barrels of storage capacity, would enhance ET's infrastructure and expand its market reach, driving growth and operational efficiency.
On July 15, ET <a href="https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-completes-acquisition-wtg-midstream">completed its $2.28 billion acquisition</a> of WTG Midstream, adding 6,000 miles of gas-gathering pipelines and eight processing plants to its Permian Basin network. The acquisition is set to boost ET's distributable cash flow per unit starting in 2025, further fueling its growth and strengthening its competitive position in the energy sector.
ET's revenues for the fiscal 2024 second quarter that ended June 30, 2024, rose 13.1% year-over-year to $20.73 billion. Its operating income grew 25.2% from the year-ago value to $2.30 billion. Plus, the company's adjusted EBITDA rose 20.4% from the year-ago value to $3.76 billion.
Additionally, ET's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $1.99 billion, up 61.6% from the prior year's quarter. Meanwhile, its net income per common unit increased 40% year-over-year to $0.35.
Street expects ET's revenue for the fiscal third quarter ending September 2024 to increase 13.2% year-over-year to $23.47 billion. Likewise, the company's EPS for the ongoing quarter is expected to grow 120.3% from the prior year's period to $0.33.
Shares of ET have surged 7.4% over the past six months and 18% over the past year to close the last trading session at $16.10. In addition, ET is trading above its 50-day and 200-day moving averages of $16.07 and $15.21, respectively.
ET's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its positive outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
ET has an A grade in Growth and a B for Value, Momentum, and Stability. Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry, it is ranked #2 out of 80 stocks.
To see the other ET ratings for Sentiment and Quality, <a href="https://stocknews.com/stock/ET/">click here</a>.
Stock #2: ChampionX Corporation (<a href="https://stocknews.com/stock/CHX/">CHX</a>)
CHX provides chemistry solutions, artificial lift systems, and engineered equipment for oil and gas drilling. The company's segments consist of Production Chemical Technologies; Production &amp; Automation Technologies; Drilling Technologies; and Reservoir Chemical Technologies.
On April 2, CHX announced a definitive agreement with Schlumberger Limited (<a href="https://stocknews.com/stock/SLB/">SLB</a>), a global energy innovation leader, to be <a href="https://investors.championx.com/news-releases/news-release-details/slb-announces-agreement-acquire-championx-all-stock-transaction">acquired in an all-stock transaction</a>. CHX shareholders will receive 0.735 shares of SLB common stock for each CHX share. Becoming part of SLB would enhance CHX's portfolio, providing the resources and reach to lead in delivering energy sustainably.
On July 9, CHX acquired RMSpumptools Limited, a designer of advanced mechanical and electrical solutions for artificial lift applications. This strategic acquisition allows CHX to <a href="https://investors.championx.com/news-releases/news-release-details/championx-acquires-rmspumptools-expanding-global-presence">create more value for customers</a> and expand into international markets, including the Middle East, Latin America, and global offshore projects.
For the fiscal 2024 second quarter that ended on June 30, CHX's revenue came in at $893.27 million. Its gross profit amounted to $279.85 million. Moreover, the company's net income attributable to CHX came in at $52.57 million or $0.27 per share. As of June 30, 2024, CHX's cash and cash equivalents stood at $393.30 million, up from $288.56 on December 31, 2023.
For the fiscal third quarter ending September 2024, CHX's revenue is expected to increase 5.6% year-over-year to $992.61 million. Its EPS for the ongoing quarter is expected to be $0.51, increasing 24.5% from the previous year's period.
CHX has gained 1.6% over the past nine months to close the last training session at $28.86.
CHX's solid fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
CHX has a B grade for Quality, Growth, and Momentum. It is ranked #11 out of 50 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy – Services</a> industry.
In addition to the POWR Ratings we've stated above, we also have CHX ratings for Value, Sentiment, and Stability. Get all CHX ratings <a href="https://stocknews.com/stock/CHX/">here</a>.
Stock #1: Secure Energy Services Inc. (<a href="https://stocknews.com/stock/SECYF/">SECYF</a>)
Headquartered in Calgary, Canada, SECYF specializes in waste management and energy infrastructure. The company's segments include Environmental Waste Management; Energy Infrastructure; and Oilfield Services.
During the second quarter that ended June 30, 2024, SECYF's total revenue rose 43.2% year-over-year to CAD 2.55 billion ($1.88 billion), of which its Oil purchase and resale revenue increased 55% from the year-ago value to CAD 2.22 billion ($1.63 billion).
Moreover, the company's net income came in at CAD 32 million ($23.56 million) and CAD 0.12 per share for the quarter, respectively. In addition, the company's discretionary free cash flow grew 26.2% from the year-ago value to CAD 53 million ($39.02 million).
Building on its strong performance in the first half of 2024, the success of SECYF's organic growth investments, and the added Adjusted EBITDA from its metal recycling acquisition, the company has increased its full-year 2024 Adjusted EBITDA guidance to <a href="https://secure-energy.mediaroom.com/2024-07-30-SECURE-ANNOUNCES-2024-SECOND-QUARTER-RESULTS?printable=1">$470 - $490 million</a>, up from the previously stated $450 - $465 million.
Shares of SECYF have surged 33.9% over the past nine months and 43.2% over the past year to close the last trading session at $8.42. Moreover, the stock is trading above its 200-day moving average of $8.07.
SECYF's strong fundamentals are mirrored in its POWR ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
SECYF has an A grade for Value. In addition, it has a B grade for Growth and Momentum. Within the Energy – Oil &amp; Gas industry, SECYF has topped among the 80 stocks.
<a href="https://stocknews.com/stock/SECYF/">Click here</a> to access additional ratings of SECYF for Sentiment, Stability, and Quality.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
ET shares were trading at $16.16 per share on Friday morning, up $0.16 (+1.00%). Year-to-date, ET has gained 24.58%, versus a 18.99% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/et-chx-secyf-slb-3-high-momentum-energy-stocks-to-watch-in-2024/>3 High-Momentum Energy Stocks to Watch in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Momentum Energy Stocks to Watch in 2024

American Century Small Cap Value Fund Q2 2024 Commentary

To promote energy security and meet the high demand for oil and gas worldwide, the oilfield services sector benefits from its critical role in drilling, assessment, production, and maintenance. Hence, investing in oilfield service stocks ChampionX Corp (CHX), DNOW Inc. (DNOW), and MRC Global (MRC) might be a lucrative option for investors. Continue reading… The oilfield service sector is becoming an attractive investment option as demand resurges, driven by increasing oil prices and geopolitical tensions worldwide. Growth in deepwater projects and increased drilling activity are the drivers behind this expansion, supported by operations across various global regions.
Amid this backdrop, investors looking to invest in this industry might consider fundamentally sound oilfield services stocks like ChampionX Corporation (<a href="https://stocknews.com/stock/CHX/">CHX</a>), DNOW Inc. (<a href="https://stocknews.com/stock/DNOW/">DNOW</a>), and MRC Global Inc. (<a href="https://stocknews.com/stock/MRC/">MRC</a>), poised for potential growth.
According to the OPEC World Oil Outlook (WOO), the energy demand is anticipated to <a href="https://www.opec.org/opec_web/en/press_room/7377.htm">increase by 24%</a>, and oil consumption is poised to reach 120.1 million barrels/day by the year 2050. With that, the global oilfield services market is projected to reach $481.82 billion by 2032, exhibiting a <a href="https://www.fortunebusinessinsights.com/industry-reports/oilfield-service-market-100174">CAGR of 6.7%</a>.
Recently, actions by the Biden administration, including the partial relaxation of drilling restrictions and the sale of new drilling rights on federal lands, have provided additional momentum for the industry. Moreover, technological advancements are steering the oilfield services sector toward more efficient and environmentally friendly drilling practices, enhancing operational performance and sustainability.
With that in mind, let's look at the fundamentals of the above-mentioned <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> picks in detail:
Stock #3: ChampionX Corporation (<a href="https://stocknews.com/stock/CHX/">CHX</a>)
CHX provides chemistry solutions, artificial lift systems, engineered equipment, and technologies worldwide to oil and gas companies. It operates through four segments: Production Chemical Technologies; Production &amp; Automation Technologies; Drilling Technologies; and Reservoir Chemical Technologies. 
On August 16, CHX declared a quarterly <a href="https://www.investopedia.com/terms/d/dividend.asp">dividend</a> of $0.095 per share on the company's common stock, payable to its shareholders on October 25, 2024. Its four-year average yield is 0.58%, while its annual dividend of $0.38 translates to a 1.22% yield on the current prices.
On July 9, CHX acquired RMSpumptools Limited, a designer and manufacturer of advanced mechanical and electrical solutions for complex artificial lift applications. This acquisition enhances CHX's portfolio, enabling it to expand its opportunities in international markets, including the Middle East, Latin America, and global offshore projects, while ensuring high customer service.
In terms of forward EV/Sales, CHX is trading at 1.67x, 15.5% lower than the industry average of 1.97x.
For the six-month period that ended on June 30, 2024, CHX's total revenue stood at $1.82 billion, while the company's Reservoir Chemical Technologies segment reported revenue of $51.83 million, indicating a 4.4% growth from the prior-year period. Its gross profit increased 2.4% year-over-year to $579.05 million. CHX's attributable net income came in at $165.49 million, up 3.9% year-over-year, while its earnings per share grew 7.6% from the year-ago value to $0.85.
Street expects revenue for the fiscal third quarter (ended September 2024) to increase 4.7% year-over-year to $983.54 million. Its EPS for the same period is expected to register a 24.9% growth from the prior year, settling at $0.51.
The stock has gained 6.2% over the past nine months to close the last trading session at $31.03.
CHX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
CHX has a B grade for Growth, Momentum, and Quality. It is ranked #11 out of 50 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry. <a href="https://stocknews.com/stock/CHX/">Click here</a> to see the additional ratings for CHX (Value, Stability, and Sentiment).
Stock #2: DNOW Inc. (<a href="https://stocknews.com/stock/DNOW/">DNOW</a>)
DNOW is a global supplier of downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations. Its offerings include consumable maintenance, repair and operating (MRO) supplies, pipe, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical, instrumentation, artificial lift, etc.
In March, DNOW acquired Whitco Supply, LLC, strengthening its position in midstream, exploration and production, and related markets central to its growth strategy. This acquisition is expected to boost DNOW's earnings and free cash flow, aligning with its commitment to enhance long-term value for shareholders.
In terms of forward GAAP P/E, DNOW is trading at 14.51x, which is 28.3% lower than the industry average of 20.23x. The stock's forward EV/Sales ratio of 0.51x is 73.4% below the industry average of 1.91x. Also, its forward EV/EBITDA multiple of 7.22 compares to the industry average of 11.82x.
In the fiscal second quarter that ended on June 30, 2024, DNOW's revenue increased 6.6% year-over-year to $633 million. Its EBITDA, excluding other costs, rose 6.4% from the year-ago value to $50 million. The company's non-GAAP net income came in at $28 million, up 3.7% year-over-year, and its non-GAAP EPS remained flat year-over-year at $0.25.
Analysts expect DNOW's revenue and EPS for the current year (ending December 2024) to be $2.39 billion and $0.87, respectively. For the fiscal year 2025, its revenue and EPS are expected to grow by 1.8% and 2.6% from the prior year to $2.43 billion and $0.89, respectively.
DNOW shares have surged 11.5% over the past nine months to close the last trading session at $12.62.
DNOW's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has a B grade for Value and Quality. Within the same industry, it is ranked #9. <a href="https://stocknews.com/stock/DNOW/">Click here</a> to see DNOW's ratings for Growth, Momentum, Stability, and Sentiment.
Stock #1: MRC Global Inc. (<a href="https://stocknews.com/stock/MRC/">MRC</a>)
MRC is a global distributor of pipes, valves, fittings, and other infrastructure products and services to diversified energy, industrial, and gas utility end markets. It provides supply chain solutions, technical product services, and a digital platform to its customers in the United States, Canada, and internationally.
On June 13, MRC announced an agreement with ExxonMobil in North America to be the primary provider of pipe, valves and fitting (PVF) products and services. This agreement allows MRC to maintain, repair, operate, and perform project work across ExxonMobil's upstream and downstream facilities.
In terms of forward non-GAAP P/E, MRC is trading at 14.50x, 28.3% lower than the industry average of 20.23x. Likewise, the stock's forward EV/Sales and Price/Sales multiples of 0.54 and 0.34 are 71.5% and 77.3% lower than their respective industry averages of 1.91 and 1.48.
MRC's sales for the second quarter (ended June 30, 2024) came in at $832 million. It reported an adjusted EBITDA of $65 million, indicating a 3.2% growth from the prior year's quarter. Also, the company's adjusted attributable net income for the quarter amounted to $27 million or $0.31 per share, reflecting an increase of 22.7% and 19.2%, respectively, from the same period last year.
Analysts expect MRC's revenue and EPS for the current year (ending December 2024) to be $3.22 billion and $0.88, respectively. For the fiscal year 2025, its revenue is expected to increase by 4.3% year-over-year to $3.36 billion, while its EPS is forecasted to settle at $1.15, indicating a 31.7% improvement over the prior year.
Over the past year, the stock has surged 23.8%, closing the last trading session at $12.69.
It's no surprise that MRC has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Value and a B for Sentiment. Out of 50 stocks in the same industry, MRC is ranked #3.
Beyond what is stated above, we've also rated MRC for Growth, Momentum, Stability, and Quality. Get all MRC ratings <a href="https://stocknews.com/stock/MRC/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CHX shares were trading at $31.14 per share on Wednesday afternoon, up $0.11 (+0.35%). Year-to-date, CHX has gained 7.49%, versus a 20.64% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/chx-dnow-mrc-3-oilfield-service-stocks-to-buy-as-drilling-demand-soars/>3 Oilfield Service Stocks to Buy as Drilling Demand Soars</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Oilfield Service Stocks to Buy as Drilling Demand Soars

AAPL

ACHC

ADMA

AEMB

AHYB

ARMK

AXNX

AZNCF

BABA

BABAF

BKNG

BLFS

CBOE

CFLT

COHR

COHU

COST

CRDO

CRGY

CYTK

DNOW

ESGA

ESGY

EVTC

FRSH

FTAI

FTAIM

FTAIN

FTAIO

FTAIP

FUSI

GKOS

GLOB

GTLB

GWRE

INSP

ITGR

ITRI

JDCMF

KNSL

KORP

LBRDA

LBRDB

LBRDK

LBRDP

LSCC

MANH

MKSI

NONOF

NTRA

OKTA

ONON

ONTO

PLAY

QCON

QGRO

QINT

QPFF

RGEN

RIVN

RMBS

SDSI

SECYF

SITE

SITM

SRCL

TAXF

TMDX

TMXXF

TWST

UBER

VALQ

VCEL

WING

Press Releases

SHAREHOLDER NOTICE: Halper Sadeh LLC Investigates PIK, CHX, MODN, ABIO

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MODN, CHX, AIRC, MCBC

Dividends

ChampionX Declares Quarterly Dividend

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MCBC, CHX, HMNF

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Continues to Investigate HMNF, MCBC, CHX

SLB Provides Update on Planned Acquisition of ChampionX

ChampionX Acquires RMSpumptools, Expanding Global Presence in Offshore Production Technologies Markets

Comments

ChampionX

뉴스

에 대한 최신 뉴스 ChampionX (NASDAQ:CHX) 주식

사람들이 또한 지켜본다

뉴스

파트너 / 기고자

벤징가 글로벌