Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has been accused by Rosa DeLauro of pressuring Republicans to abandon key U.S.-China investment restrictions to safeguard the EV giant's business interests in China.



What Happened: In a letter on Friday, DeLauro, the top Democrat on the House Appropriations Committee, stated that Musk used his influence to have Republicans scrap provisions aimed at regulating U.S. investments in China, reported Reuters.



She pointed to Musk's "extensive investments in China in key sectors" and alleged ties to Chinese Communist Party or CCP leadership.



The controversy centers on Tesla's Shanghai gigafactory, which produces about 50% of Tesla's global automobile output.



See Also: <a href="https://www.benzinga.com/24/12/42633974/tesla-cybertruck-units-reportedly-found-with-cell-dent-issues-ev-giant-starts-replacing-battery-packs">Tesla Cybertruck Units Reportedly Found With Cell Dent Issues: EV Giant Starts Replacing Battery Packs</a>



DeLauro argued that Musk's actions jeopardized critical legislation to safeguard U.S. supply chains and national security, accusing him of &#8221; bullying Republicans into going back on their words."



Musk, in turn, criticized DeLauro on X, formerly Twitter, calling for her expulsion from Congress.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This awful creature needs to be expelled from Congress! Ugh …&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870233561753633123?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Tesla has seen robust sales in China, bolstered by strong demand for its Model Y and Model 3 vehicles. In November, <a href="https://www.benzinga.com/markets/equities/24/12/42438591/teslas-china-sales-recover-model-y-accounts-for-over-60-of-november-sales">Tesla's retail sales in China</a> reached 73,490 units, showing a significant recovery from earlier challenges in 2024.



The EV giant also faces stiff competition from local players like BYD Co., which leads the market, but Tesla's steady increase in weekly insurance registrations—21,900 units in early December—<a href="https://www.benzinga.com/news/global/24/12/42284511/tesla-china-sees-robust-demand-in-q4-with-registrations-up-14-2-yoy-so-far-expert-says-ev-giant-on-track-for-best-quarter-ever">signals growing momentum</a>.



Tesla reported <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">third-quarter revenue</a> of $25.18 billion marking an 8% year-over-year growth. While the company missed Wall Street estimates, automotive revenue reached $20 billion, up 2% year-over-year.



DeLauro's accusations highlight broader concerns about the risks of U.S. investments in Chinese technology sectors. October rules finalized by the Treasury Department aim to limit such investments in critical areas like artificial intelligence to protect national security.



However, the removal of provisions for outbound investment screening could leave gaps in safeguarding U.S. interests.



Price Action: Tesla&#8217;s stock declined by 3.46% on Friday, ending the session at $421.06. Despite this drop, the company's shares have surged 69.5% since the start of the year, significantly outpacing the Nasdaq 100 index, which has gained 28.68% over the same period, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.



The latest ratings from Baird, Mizuho, and Goldman Sachs have established an average price target of $446.67, suggesting an upside potential of 5.53%.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/21024505/Screenshot-2024-12-21-at-1.14.58%E2%80%AFPM-1024x374.png" alt="" class="wp-image-702681"/></a></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/12/42627985/which-magnificent-7-stock-will-gain-the-most-in-a-santa-claus-rally-28-select">Which Magnificent 7 Stock Will Do Best In Santa Claus Rally? Tesla Edged Out As 28% Select…</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

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Elon Musk Accused Of Bullying Republicans To Scrap US-China Investment Safeguards To Protect Tesla's Interests

Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has reduced its top management roles by 10% as part of a multi-year effort to streamline operations <a href="https://www.benzinga.com/news/23/09/34392201/google-salary-leak-reveals-mind-blowing-earnings-top-engineers-make">and boost efficiency</a>.



What Happened: On Wednesday, CEO Sundar Pichai revealed during an all-hands meeting that the move reflects Google&#8217;s broader push to simplify its structure and adapt to a rapidly evolving tech landscape.



According to employees who attended the meeting, Pichai explained that the efficiency drive included changes to managerial, director, and vice president roles. 



Some positions were restructured to nonmanagerial roles, while others were eliminated entirely. The changes align with Pichai's 2022 statement that he wanted the company to become "20% more efficient," a goal that resulted in 12,000 layoffs in January of this year. 



According to the report <a href="https://www.businessinsider.com/google-ceo-company-cut-manager-vp-roles-2024-12">by</a> Business Insider, Google&#8217;s pursuit of efficiency comes as competition intensifies in the artificial intelligence space, with rivals like OpenAI launching products that challenge Google's dominance in search.



Also Read: <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">OpenAI&#8217;s ChatGPT Makes Headway In Search, Threatening Google&#8217;s Reign</a>



In response, Google has infused generative AI into its core services and unveiled innovations such as a new AI video generator and its Gemini AI models, including a "reasoning" model designed to showcase its thought process.



During the meeting, Pichai also addressed Google's cultural identity, discussing the term &#8220;Googleyness,&#8221; which he said needed an update to reflect the company&#8217;s modern values and direction. 



The term has long been associated with Google's work culture, and its evolution signals the company's commitment to staying relevant in a rapidly changing industry.



As Google continues its efficiency drive and AI innovation efforts, it remains a key player in shaping the future of technology while adapting its structure and culture for the challenges ahead.



Read Next



<a href="https://www.benzinga.com/news/24/01/36709679/employees-slam-google-leaderships-vision-in-wake-of-layoffs-they-are-all-profoundly-boring-and-glass">Employees Slam Google Leadership&#8217;s Vision In Wake Of Layoffs: &#8216;They Are All Profoundly Boring And Glassy-eyed&#8217;</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOGL

Google Announces Major Layoffs As Pichai Stresses Efficiency

These nine mid-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) rocketed 162.79% after the company announced it was awarded a prime contract by NASA to apply Dirac-3 for imaging <a href="https://www.benzinga.com//node/42554980" target="_blank" rel="noreferrer noopener">and data processing support</a>.</li>



<li>BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) shares surged 37.17% after the company <a href="https://www.benzinga.com//node/42606549" target="_blank" rel="noreferrer noopener">reported third-quarter results</a>. Analysts revised the price <a href="https://www.benzinga.com/quote/bb/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast on the stock</a>.</li>



<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stock upped 31.30% after Craig-Hallum raised its price forecast from $22 to $45 while <a href="https://www.benzinga.com/quote/ionq/analyst-ratings" target="_blank" rel="noreferrer noopener">maintaining a Buy rating</a>.</li>



<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares escalated 30.87%, probably due to continued strength amid <a href="https://www.benzinga.com//node/42569883" target="_blank" rel="noreferrer noopener">momentum towards Quantum-related companies</a>.</li>



<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) shares were up 28.65% following several notable announcements <a href="https://www.benzinga.com//node/42507758" target="_blank" rel="noreferrer noopener">from the company regarding conversational AI</a>.</li>



<li>Xometry, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XMTR#NASDAQ">XMTR</a>) stock rose 19.88% after JP Morgan upgraded it from Neutral to Overweight and <a href="https://www.benzinga.com/quote/xmtr/analyst-ratings" target="_blank" rel="noreferrer noopener">raised its price forecast from $25 to $45</a>.</li>



<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) stock upped 17.05%. NBA Hall of Famer and analyst Shaquille O&#8217;Neal has added a custom Lucid Air to his list of vehicles, including several Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck <a href="https://www.benzinga.com//node/42556676" target="_blank" rel="noreferrer noopener">electric pickup trucks.</a></li>



<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) stock increased 16.14% after the company and Switch signed a non-binding Master Power Agreement to deploy 12 gigawatts of Oklo Aurora <a href="https://www.benzinga.com//node/42554232" target="_blank" rel="noreferrer noopener">powerhouse projects through 2044</a>. Also, Wedbush initiated coverage on the stock with an Outperform rating and announced <a href="https://www.benzinga.com/quote/oklo/analyst-ratings" target="_blank" rel="noreferrer noopener">a $25 price forecast</a>.</li>



<li>Azenta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZTA#NASDAQ">AZTA</a>) stock rose 12.24% after Stephens &amp; Co. upgraded the stock to Overweight from Equal-Weight and <a href="https://benzinga.com/quote/azta/analyst-ratings" target="_blank" rel="noreferrer noopener">raised its price forecast from $50 to $60</a>.</li>
</ol>



Also Read:



<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/12/42638256/teva-pharmaceutical-li-auto-and-darden-restaurants-are-among-top-large-cap-gainers-last-week-december-16-20-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>



<li><a href="https://www.benzinga.com//node/42638379" target="_blank" rel="noreferrer noopener">Novo Nordisk, Super Micro Computer And Arm Are Among Top Large Cap Losers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>
</ul>



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RGTI

SOUN

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Quantum Computing, BlackBerry And Lucid Group Are Among Top Mid Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



Major averages jumped on Friday but still logged weekly losses, with the Dow down 2.3%, the S&amp;P 500 falling 2%, and the Nasdaq losing 1.8%. 



The Federal Reserve&#8217;s widely anticipated 25-basis-point rate cut on Wednesday was overshadowed by its revised 2025 inflation forecasts and Jerome Powell&#8216;s cautious stance, dampening hopes for deeper cuts next year. Powell emphasized a "new phase" of monetary policy after a 100-basis-point reduction in 2024, signaling <a href="https://www.benzinga.com/news/large-cap/24/12/42629219/fed-cuts-interest-rates-but-powell-spoils-santa-claus-rally-dollar-surges-to-over-2-year-high-bitcoin-sinks-below-100000-this-week-in-the-market">only gradual easing in 2025</a>.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which had reached a record $108,388 before the Fed meeting, fell below $100,000 as markets absorbed the news.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042">Elon Musk Hopes TSLA Stock Will Reach $690 As Analysts Raise Price Target Despite Technical Indicators Flashing Warning Signals</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reports Elon Musk's optimism about Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reaching $690, as analysts upgraded the stock with $515 price targets, citing potential benefits from Musk's alignment with Donald Trump's pro-autonomous vehicle policies.



&#8220;<a href="https://www.benzinga.com/24/12/42602503/dave-portnoy-says-he-owns-15-million-bitcoin-13-million-xrp-bet-it-and-set-it-not-trading">Dave Portnoy Says He Owns $1.5 Million Bitcoin, $1.3 Million XRP: &#8216;Bet It And Set It, Not Trading&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a> , reveals that Dave Portnoy, founder of Barstool Sports, holds $1.5 million in Bitcoin and $1.3 million in XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), emphasizing a long-term investment strategy rather than active trading, following insights from a recent conversation with Michael Saylor.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42516826/nvidia-and-5-other-stocks-are-analysts-top-semiconductor-picks-for-2025-sees-2-ai-trends">Nvidia And 5 Other Stocks Are Analyst&#8217;s Top Semiconductor Picks For 2025, Sees 2 AI Trends</a>,&#8221; by <a href="https://www.benzinga.com/author/hayden-buckfire">Hayden Buckfire</a>, highlights a Bank of America analyst naming NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) as top AI-driven semiconductor picks for 2025, alongside Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), and Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>).



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report">Microsoft Scoops Up 485,000 Nvidia AI Chips, Twice As Many As Its Closest Rival Meta: Report</a>



<a href="https://www.benzinga.com/trading-ideas/24/12/42599673/amazon-has-20000-rivian-electric-delivery-vans-in-fleet-heres-what-could-be-next-for-both-companies">Amazon Has 20,000 Rivian Electric Delivery Vans In Fleet: Here&#8217;s What Could Be Next For Both Companies</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42535298/joby-clears-faa-tail-test-stock-flies-higher">Joby Clears FAA Tail Test, Stock Flies Higher</a>



The Bears



&#8220;<a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe">Jim Cramer Warns Nvidia&#8217;s &#8216;Vicious&#8217; And &#8216;Fast&#8217; Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</a>,&#8221; by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkote</a>, features Jim Cramer's caution about NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) facing a sharp correction after its 174% YTD gain, amid heightened regulatory scrutiny from China over its Mellanox Technologies acquisition.



&#8220;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42568740/dogecoin-bull-says-he-had-to-sell-as-meme-king-plunges-to-5-week-low-but-derivative-traders-remain-bullish">Dogecoin Bull Says He &#8216;Had To Sell&#8217; As Meme King Plunges To 5-Week Low But Derivative Traders Remain Bullish</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) dropping amid Federal Reserve concerns, with early adopter Glauber Contessoto selling some holdings.



&#8220;<a href="https://www.benzinga.com/24/12/42517567/cvs-cigna-unitedhealth-shares-slide-as-trump-targets-drug-middleman">CVS, Cigna, UnitedHealth Shares Slide As Trump Targets Drug &#8216;Middleman&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that shares of CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), and UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) dropped after Trump vowed to eliminate Pharmacy Benefit Managers, citing their role in inflating drug prices and contributing to industry inefficiencies.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42529095/bitcoin-crash-could-trigger-stock-market-decline-in-2025-warns-expert-im-very-worried-that-people-overextended-themselves">Bitcoin Crash Could Trigger Stock Market Decline In 2025, Warns Expert: &#8216;I&#8217;m Very Worried That People Overextended Themselves&#8217;</a>



<a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Costco Warns That Tariffs Raise Prices, Trump Team Says Trade Policies Will &#8216;Make Life Affordable&#8217;</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

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Benzinga Bulls And Bears: Tesla, Broadcom, UnitedHealth, Bitcoin And Dogecoin Bull 'Had To Sell' After Price Plunge

<h2 class="wp-block-heading">New On The Block</h2>



Honeywell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business <a href="https://www.benzinga.com/news/asset-sales/24/12/42505835/honeywell-advances-strategic-review-explores-aerospace-business-separation">off to fly solo</a>. Recently, Honeywell unveiled plans to spin off its Advanced Materials business into a standalone public company by late 2025 or early 2026. Additionally, the company is selling its Personal Protective Equipment (PPE) business to Protective Industrial Products for $<a href="https://www.benzinga.com/24/11/42140202/honeywell-to-exit-ppe-business-with-1325-billion-sale-plans-advanced-materials-spinoff">1.325 billion in cash</a>.



Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) has decided it's time to <a href="https://www.benzinga.com/news/guidance/24/12/42558931/textron-hits-the-brakes-on-powersports-strategic-shift-amid-soft-demand">hit the brakes on</a> its Powersports product line, part of the Industrial segment&#8217;s Textron Specialized Vehicles business. The segment manufactures snowmobiles and off-road vehicles under the Arctic Cat label. Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) is rumored to be interested in acquiring it. Textron expects to wrap up its restructuring in the first half of the new year.



DLocal, a Latin American payments provider with a market value of about $3.6 billion, is on the auction block. The Montevideo, Uruguay-based company hired Morgan Stanley to gauge takeover offers from bidders. Private equity firm General Atlantic is DLocal&#8217;s largest shareholder.



<h2 class="wp-block-heading">Updates From The Block</h2>



The European Commission <a href="https://www.benzinga.com/government/regulations/24/12/42621868/nvidia-secures-eu-approval-for-runai-deal-us-probes-china-export-breach">granted unconditional approval</a> for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to acquire Run:ai Labs Ltd, an Israel-based provider of GPU orchestration software. The decision under the EU Merger Regulation concluded the acquisition would not raise competition concerns within the European Economic Area. Nvidia aims to integrate Run: ai&#8217;s software into its ecosystem. Run:ai specializes in software that helps organizations optimize and manage their artificial intelligence compute workloads across various environments, including on-premises and cloud platforms.



Soho House's billionaire chairman Ron Burkle wants to whisk the private members' club away from the U.S. stock market. Burkle and his squad of investors have thrown down a flashy <a href="https://www.benzinga.com/24/12/42597812/soho-house-jumps-over-50-on-receiving-acquisition-offer-with-83-premium">$1.8 billion buyout bid</a>, offering $9 per share—a snazzy 83% premium to the stock&#8217;s closing price on Wednesday, Dec. 18. This isn't Soho House's first flirtation with delisting. Just a few months ago, it turned down a mysterious suitor's offer.



See Also: TK



<h2 class="wp-block-heading">Off The Block</h2>



Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/news/contracts/24/12/42584936/chevron-secures-larger-north-west-shelf-stake-in-asset-swap-400m-payment-to-woodside">finalized an asset swap deal</a> on Wednesday. As part of the agreement, Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia. In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project. Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.



<h2 class="wp-block-heading">Bankruptcy Block</h2>



Furnishing and retailer Big Lots Inc.&#8216;s Chapter 11 bankruptcy filing in September and impending store closures could benefit rival Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), JPMorgan analyst Matthew R. Boss says. On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets to Nexus Capital Management LP. The company&#8217;s stock was subsequently delisted from the New York Stock Exchange. Its third-quarter financial report revealed a company struggling with declining sales, eroding margins and a continual bleeding of cash. On Dec. 19, the Columbus, Ohio-based company said its sale to Nexus Capital fell through, noting it &#8220;continues to work toward completing an alternative going concern transaction with Nexus or another party.&#8221; CEO Bruce Thorn announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42624759/big-lots-holds-liquidation-sales-analyst-pegs-competitor-as-major-beneficiary-market-share-capture-opportunity">going-out-of-business sale</a>.



FTX announced that its<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42151412/bankrupt-crypto-exchange-ftx-to-commence-payments-to-customers-creditors-in-early-2025"> Chapter 11 bankruptcy reorganization plan</a> will become effective on Jan. 3, 2025. Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo. The first round of distributions is expected to occur within 60 days of the plan's effective date. The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later.



<h2 class="wp-block-heading">Notes From The Block</h2>



Benzinga recently interviewed Tony Roma&#8217;s CEO Mohaimina (Mina) Haque on a variety of topics, including the restaurant chain&#8217;s capital raising initiatives:



<h3 class="wp-block-heading">BZ: What's the global stage look like?</h3>



There's a lot of interest globally. We are in Dubai and Berlin as well as Kuala Lumpur, Malaysia and Perth, Australia. There is a lot of brand awareness. Stateside, as Gen Z and millennials were growing up, there was a decrease in unit size. So, we are working on building that bridge between those who are nostalgic for Tony Roma's and those who haven't experienced it yet. There are challenges, including the supply chain and ensuring that franchise partners uphold our intellectual property.



<h3 class="wp-block-heading">BZ: Is M&amp;A still on the cards?</h3>



It is a possibility. We have parties interested in helping us to expand our global and national footprint. So, it's still in the cards, with either a venture capital or private equity firm. For anyone interested and who wants to see more explosive growth for the company, we are looking for partners capable of heavy capital infusion.



<h3 class="wp-block-heading">BZ: What size investment do you think would you go to ballpark it?</h3>



If I have to ballpark it, maybe somewhere between $10 million and $20 million



For the <a href="https://www.benzinga.com/general/restaurants/24/12/42553401/comfort-food-comeback-how-mina-haque-plans-to-make-tony-romas-sizzle-again">full Q&amp;A, click here</a>.



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Rumors

Asset Sales

Exclusives

OLLI

Deal Dispatch: Honeywell, Textron And Soho House Are Making M&A Moves

Becton, Dickinson And Co. Agrees To Pay $175 Million Civil Penalty



The Securities and Exchange Commission on Monday announced it had <a href="https://www.sec.gov/newsroom/press-releases/2024-201">settled charges</a> against Becton, Dickinson and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), known as BD, for repeatedly misleading investors about risks associated with its continued sales of its Alaris infusion pump and for overstating its income by failing to record the costs of fixing multiple software flaws with the pump. BD agreed to pay a $175 million civil penalty.



Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42598651/mystery-drone-sightings-all-over-the-country-trump-says-what-to-know-about-investigations-lawmakers-reactions">&#8216;Mystery Drone&#8217; Sightings Spark Investigations, Politicians Respond: &#8216;Shoot Them Down,&#8217; Trump Says</a>



"BD repeatedly painted a misleading picture of its Alaris infusion pump for investors and then doubled down by keeping them in the dark when the device's issues came to a head with the FDA in late 2019," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;



"Public companies have a fundamental duty to accurately disclose material business risks and should expect to be held accountable when they fall short in that regard," Wadhwa added.&nbsp;



The SEC's order finds that BD violated antifraud, reporting, internal accounting controls, books and records and disclosure controls provisions of the federal securities laws. BD agreed to cease and desist from further violations of these provisions, to retain an independent compliance consultant to review and make recommendations concerning its disclosure controls and procedures and to the $175 million civil penalty, without admitting or denying the SEC's findings.&nbsp;



Express Fails To Disclose CEO's Full Executive Compensation&nbsp;



The SEC announced on Tuesday that it has settled charges against fashion retailer Express, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EXPRQ#OTC">EXPRQ</a>) for failing to disclose executive compensation it paid to its now former CEO with Express agreeing to a cease-and-desist order, without admitting or denying the SEC's findings.



According to the SEC's order, Express failed to disclose $979,269 worth of perks and personal benefits provided to its CEO for fiscal years 2019, 2020, and 2021. As a result, Express understated the "All Other Compensation" portion of its CEO's compensation by an average of 94% over the three years. The company filed for Chapter 11 bankruptcy earlier this year.&nbsp;



"Public companies have a duty to comply with their disclosure obligations regarding executive compensation, including perks and personal benefits, so that investors can make educated investment decisions," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;



"Here, although Express fell short in carrying out its obligation, the Commission declined to impose a civil penalty based, in part, on the company's self-report, cooperation with the staff's investigation, and remedial efforts," Wadhwa added. 



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Image: Yildiray Yücel Kamanmaz from Pixabay

Legal

EXPRQ

Financial Crime Weekly: Becton, Dickinson And Co. Pays $175 Million Penalty, Express Fails To Disclose CEO's Full Compensation

In a significant move to bolster the domestic semiconductor industry, the U.S. Commerce Department has approved a $406 million grant for Taiwan's&nbsp;GlobalWafers. This funding is aimed at enhancing silicon wafer <a target="_blank" href="https://www.benzinga.com/tech/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers" rel="noreferrer noopener">production within the United States</a>.



Senate minority leader&nbsp;Mitch McConnell&nbsp;(R-Ky.) submitted an amicus brief to the Supreme Court, urging the rejection of&nbsp;TikTok's&nbsp;request to delay <a target="_blank" href="https://www.benzinga.com/24/12/42568430/senate-minority-leader-mcconnell-urges-supreme-court-to-reject-tiktoks-delay-request-pushing-for-january-ban-amid-first-amendment-debate" rel="noreferrer noopener">a law that could ban the app in January</a>.



Smartphones



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;is reportedly gearing up to launch a redesigned&nbsp;AirTag&nbsp;in 2025 with better <a target="_blank" href="https://www.benzinga.com/media/24/12/42501665/apples-2025-airtag-to-feature-iphone-15s-ultrawide-band-chip-for-smarter-longer-range-tracking-report" rel="noreferrer noopener">tracking capabilities and range</a>.



Apple is reportedly planning to launch foldable iPhones <a target="_blank" href="https://www.benzinga.com/media/24/12/42500942/apple-eyes-2026-to-launch-foldable-iphones-and-ultralight-devices-as-it-looks-to-revitalize-sales-momentum-report" rel="noreferrer noopener">and ultralight devices by 2026</a>.



Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42513402/apples-2025-bull-case-can-it-deliver-without-riding-the-ai-wave" rel="noreferrer noopener">Apple&#8217;s 2025 Bull Case: Can It Deliver Without Riding The AI Wave?</a>



New leaks have emerged, offering a glimpse into the design of the upcoming&nbsp;Samsung Electronics Co.&#8217;s<a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">&nbsp;</a>(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) <a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">Galaxy S25 Ultra</a><a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">&nbsp;and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">S25+</a>.



Apple and&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;have announced a collaboration for the improvement in the <a target="_blank" href="https://www.benzinga.com/24/12/42568204/nvidia-and-apple-team-up-to-supercharge-llms-with-redrafter-technique" rel="noreferrer noopener">performance of large language models</a>.



Apple has slammed&nbsp;Meta Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) for its numerous requests to access iPhone-maker's software tools, <a target="_blank" href="https://www.benzinga.com/media/24/12/42569325/apple-slams-metas-interoperability-demands-cites-privacy-risks-instagram-parent-fires-back-cupertinos-assertions-have-no-basis-in-reality" rel="noreferrer noopener">citing potential privacy and security risks</a>.



Apple is reportedly engaging in discussions with&nbsp;Tencent&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and TikTok's parent company,&nbsp;ByteDance, to integrate their <a target="_blank" href="https://www.benzinga.com/news/24/12/42569744/apple-reportedly-in-talks-with-tencent-tiktok-parent-bytedance-to-roll-out-ai-features-in-china" rel="noreferrer noopener">AI&nbsp;models into iPhones sold in&nbsp;China</a>.



Technology &amp; Social Media



Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly acquired nearly twice as many&nbsp;Nvidia AI chips as its closest competitors. This strategic investment is aimed at bolstering its AI capabilities,<a target="_blank" href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report" rel="noreferrer noopener"> particularly for its Azure cloud services</a>.



Meta&nbsp;unveiled much-anticipated updates to its&nbsp;Ray-Ban&nbsp;smart glasses. It rolled out three new features for its Ray-Ban smart glasses:<a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener"> live AI, live translations, and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener">Shazam</a>.&nbsp;



Meta&#8217;s CEO&nbsp;Mark Zuckerberg&nbsp;said that&nbsp;Instagram&#8217;s Threads&nbsp;has reached a milestone <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42525426/threads-reaches-100-million-daily-active-users-as-meta-capitalizes-on-exodus-from-elon-musks-x-to-alternative-platforms" rel="noreferrer noopener">of 100 million daily active users</a>.



Instagram&nbsp;head&nbsp;Adam Mosseri&nbsp;raised concerns about the growing challenge of distinguishing between real and AI-generated <a target="_blank" href="https://www.benzinga.com/24/12/42501178/meta-warns-ai-generated-content-can-be-a-threat-as-instagram-boss-suggests-always-considering-who-it-is-that-is-speaking" rel="noreferrer noopener">images on social media platforms</a>.



Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/24/12/42509206/soundhound-ai-soars-over-700-short-squeeze-potential-has-traders-talking" rel="noreferrer noopener">SoundHound AI Soars Over 700%: Short Squeeze Potential Has Traders Talking</a>



On Monday, President-elect&nbsp;Donald Trump&nbsp;reportedly met with TikTok CEO&nbsp;Shou Zi Chew&nbsp;at Mar-a-Lago, Florida, as the company seeks intervention from the U.S. <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42522134/trump-meets-tiktok-ceo-shou-zi-chew-at-mar-a-lago-as-platform-urges-supreme-court-to-block-looming-ban" rel="noreferrer noopener">Supreme Court to prevent a looming ban</a>.



Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive" rel="noreferrer noopener">Elon Musk Reacts After Sundar Pichai Shares Veo 2 As Google Looks To Challenge OpenAI&#8217;s Sora In AI Video Race: &#8216;Looks Impressive&#8217;</a>



PDD Holdings‘&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu app has once again secured the top position as the most downloaded free app on Apple's U.S. iOS store, marking its second <a target="_blank" href="https://www.benzinga.com/tech/24/12/42527567/pdds-temu-tops-ios-downloads-in-us-while-trump-wants-to-impose-100-tariffs-on-chinese-imports" rel="noreferrer noopener">consecutive year at the summit</a>.



Microsoft CEO&nbsp;Satya Nadella&nbsp;shared insights about the transformative impact of AI throughout 2024, <a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">with which&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">&nbsp;agrees</a>.



Elon Musk&nbsp;has once again expressed his disapproval of hashtags on&nbsp;X, formerly&nbsp;Twitter, describing <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42547615/elon-musk-reiterates-hashtags-are-ugly-and-useless-on-x-even-though-ceo-linda-yaccarino-tried-to-make-them-trendy-again" rel="noreferrer noopener">them as "ugly" and redundant</a>.



Artificial Intelligence (AI)



Marc Andreessen&nbsp;has lauded&nbsp;OpenAI's Sora&nbsp;video model, suggesting it may have resolved a<a target="_blank" href="https://www.benzinga.com/tech/24/12/42501018/marc-andreessen-praises-openais-sora-video-model-we-may-have-basically-just-solved-the-fundamental-challenge-of-robotics" rel="noreferrer noopener"> significant challenge in robotics</a>.



OpenAI&nbsp;announced that it is extending the&nbsp;ChatGPT Search&nbsp;engine to all users, including those on the free tier. The AI search engine was initially <a target="_blank" href="https://www.benzinga.com/tech/24/12/42523020/chatgpt-search-goes-free-openai-challenges-googles-unbroken-search-dominance" rel="noreferrer noopener">launched for paid subscribers in October</a>.



Mondelez International&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) has been leveraging AI to speed up recipe development<a target="_blank" href="https://www.benzinga.com/24/12/42545590/oreo-ai-cookie-magic-how-mondelez-is-using-tech-to-whip-up-snack-perfection" rel="noreferrer noopener"> and improve flavor profiles</a>.



Grammarly Inc.&#8217;s acquisition of Coda has received a thumbs-up&nbsp;from&nbsp;LinkedIn&nbsp;co-founder&nbsp;Reid Hoffman.&nbsp;The writing assistant company will now be led <a target="_blank" href="https://www.benzinga.com/tech/24/12/42546973/grammarly-acquires-coda-linkedin-co-founder-reid-hoffman-applauds-move" rel="noreferrer noopener">by the new CEO,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/12/42546973/grammarly-acquires-coda-linkedin-co-founder-reid-hoffman-applauds-move" rel="noreferrer noopener">Shishir Mehrotra</a>.



OpenAI&nbsp;has unveiled a new feature that lets users call&nbsp;ChatGPT&nbsp;for free, offering a 15-minute call per month through the <a target="_blank" href="https://www.benzinga.com/24/12/42569479/openai-takes-a-page-from-googles-2007-playbook-by-turning-phones-into-an-ai-hotline-with-toll-free-number-1-800-chatgpt" rel="noreferrer noopener">toll-free number&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42569479/openai-takes-a-page-from-googles-2007-playbook-by-turning-phones-into-an-ai-hotline-with-toll-free-number-1-800-chatgpt" rel="noreferrer noopener">1-800-CHATGPT</a>.



Read: <a target="_blank" href="https://www.benzinga.com/24/12/42553029/apples-iphone-16-stumbles-on-intelligence-awareness-but-pro-max-shines-bright-says-analyst" rel="noreferrer noopener">Apple&#8217;s iPhone 16 Stumbles On &#8216;Intelligence&#8217; Awareness, But Pro Max Shines Bright: Analyst</a>



Perplexity AI, backed by&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder&nbsp;Jeff Bezos,&nbsp;secured $500 million in funding&nbsp;led by Institutional Venture Partners, <a target="_blank" href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up" rel="noreferrer noopener">tripling its valuation to $9 billion</a>.

AAPL

AMZN

MDLZ

MSFT

SSNLF

TCEHY

Instagram Concerned About Challenge In Distinguishing Real And AI-Generated Images, Apple To Launch Foldable iPhone By 2026 & More: Consumer Tech News (December 16-20)

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?



<ol>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares dipped 20.52% after the company released headline results from the REDEFINE 1 Phase 3 <a href="https://www.benzinga.com//node/42613036" target="_blank" rel="noreferrer noopener">trial in the global REDEFINE program</a>.</li>



<li>Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) stock declined 14.33% after the company announced results from its <a href="https://www.benzinga.com//node/42599745" target="_blank" rel="noreferrer noopener">Phase 2 study of Suzetrigine</a>.</li>



<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) shares were down 13.47%.</li>



<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares fell 13.33% last week as the company is <a href="https://www.benzinga.com//node/42520765" target="_blank" rel="noreferrer noopener">set to be removed</a> from the Nasdaq 100 Index.</li>



<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) stock plummeted 13.07%. A new government fiscal spending package and last week&#8217;s central bank rate hike could erode global investor confidence and raise concerns over the nation&#8217;s deficit.</li>



<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) stock was down 13.01%, likely due to continued weakness stemming from its <a href="https://www.benzinga.com//node/42538739" target="_blank" rel="noreferrer noopener">ongoing legal dispute</a> with Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).</li>



<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares decreased 12.08% after the company reported mixed earnings results and issued weak guidance for the current quarter. <a href="https://www.benzinga.com//node/42594359" target="_blank" rel="noreferrer noopener">Multiple analysts also lowered price forecasts</a>.</li>



<li>Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) stock lost 11.63% last week, a result of the Fed rate decision that caused a selloff in software stocks.</li>



<li>Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) stock declined 11.50% after the company reported <a href="https://www.benzinga.com//node/42588404" target="_blank" rel="noreferrer noopener">second-quarter financial results</a>. Several analysts lowered <a href="https://www.benzinga.com/quote/ctas/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) <a href="https://www.benzinga.com//node/42603589" target="_blank" rel="noreferrer noopener">declined 11.43%</a>.</li>



<li>monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) stock dived 11.20% after Citigroup cut its price forecast <a href="https://www.benzinga.com/quote/mndy/analyst-ratings" target="_blank" rel="noreferrer noopener">on the stock from $338 to $302</a>.</li>
</ol>



Also Read:



<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/12/42638256/teva-pharmaceutical-li-auto-and-darden-restaurants-are-among-top-large-cap-gainers-last-week-december-16-20-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>
</ul>



Photo via Shutterstock

Large Cap

CTAS

CVNA

MNDY

MSTR

PAYC

QCOM

SMCI

VRTX

Novo Nordisk, Super Micro Computer And Arm Are Among Top Large Cap Losers Last Week (December 16-20): Are The Others In Your Portfolio?

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) stock escalated 33.88% after the company and Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) announced that primary endpoints were met in the Phase 2b trial of Duvakitug for <a href="https://www.benzinga.com//node/42531132" target="_blank" rel="noreferrer noopener">ulcerative colitis and Crohn&#8217;s disease</a>.</li>



<li>Klaviyo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) shares surged 12.85%.</li>



<li>Olive Garden parent Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) stock rose 12.54% after the company reported better-than-expected second-quarter EPS and <a href="https://www.benzinga.com//node/42585797" target="_blank" rel="noreferrer noopener">issued an FY25 revenue outlook</a>. Several analysts raised the <a href="https://www.benzinga.com/quote/dri/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>



<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) shares upped 10.91%. Stephens &amp; Co. initiated coverage with an Equal-Weight rating and <a href="https://www.benzinga.com/quote/docs/analyst-ratings" target="_blank" rel="noreferrer noopener">a price forecast of $55</a>.</li>



<li>Birkenstock Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) shares increased 9.70% after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance. Several analysts raised <a href="https://www.benzinga.com//node/42599431" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) stock upped 7.30% after the company reported better-than-expected <a href="https://www.benzinga.com//node/42553094" target="_blank" rel="noreferrer noopener">first-quarter EPS and revenues</a>. Several analysts raised <a href="https://www.benzinga.com/quote/jbl/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) stock rose 6.88%. The FDA approved Crenessity (crinecerfont) capsules and oral solution as an adjunctive treatment to glucocorticoid replacement to control androgens in adult and pediatric patients four years of age and older with <a href="https://www.benzinga.com//node/42508449" target="_blank" rel="noreferrer noopener">classic congenital adrenal hyperplasia (CAH).</a></li>



<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock was up 6.54% last week, continuing strength from Q3 earnings.</li>



<li>Dr. Reddy&#8217;s Laboratories Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) stock increased 6.29%.</li>



<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares upped 6.13% last week.</li>
</ol>



Photo by Sundry Photography via Shutterstock

BIRK

CHWY

DOCS

KVYO

NBIX

TEVA

Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?

Anthony Scaramucci, founder of SkyBridge Capital, has dismissed concerns surrounding Michael Saylor and MicroStrategy Inc., suggesting fears of a potential collapse due to Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) volatility are exaggerated. 



What Happened: In an interview on Friday, Scaramucci pointed to Saylor's long-term debt strategy as evidence of MicroStrategy's resilience.



"People think if Bitcoin crashes, he is going to implode," Bloomberg quoted Scaramucci <a href="https://www.bloomberg.com/news/articles/2024-12-20/scaramucci-says-concern-over-microstrategy-s-debt-is-overblown?sref=TBDibEcD">saying</a> during the interview. "But if you really study his balance sheet, he has long, long-term debt, and he has rolling long-term debt. You'd have to have a systemic collapse in Bitcoin lasting six or seven years to flash him out." 



MicroStrategy's bold bet on Bitcoin has driven a more than 400% surge in its stock this year, while the company financed purchases with billions in convertible debt.



The company currently has $7.2 billion in outstanding convertible debt, including $6 billion raised in 2024 alone. While some worry Bitcoin's price drops could force MicroStrategy to offload its holdings, further depressing prices, Scaramucci argued this narrative is overblown, reports the outlet. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378636/scaramucci-bitcoin-is-a-volatile-asset-but-ready-for-prime-time-institutional-investing">Scaramucci: Bitcoin Is a Volatile Asset, But &#8216;Ready for Prime Time Institutional Investing&#8217;</a>



"The narrative of him being forced to sell hundreds of thousands of tokens into the market, I think it's a forced narrative," he said, comparing MicroStrategy's structure to that of Lehman Brothers' during the 2008 financial crisis.



MicroStrategy remains a top holding of the First Trust SkyBridge Crypto Industry and Digital Economy ETF, sub-advised by SkyBridge Capital. Scaramucci praised Saylor's innovative approach, saying, "He's created this positive flywheel by issuing debt and equity."



Why It Matters: Bitcoin has recently pulled back from an all-time high of $108,000, retreating amid profit-taking and market volatility. Scaramucci anticipates potential corrections in the 30-40% range, which could bring Bitcoin's price to $60,000-$70,000. 



However, he remains optimistic about Bitcoin's long-term trajectory, citing favorable regulatory developments and U.S. exchange-traded funds investing directly in the cryptocurrency.



"Could it get to $18 trillion dollars in market cap?" Scaramucci speculated. "We believe that it could. Is it a direct line to $18 trillion? No."



Read Next



<a href="https://www.benzinga.com/news/24/11/42254953/scaramucci-on-trump-deportation-plan-were-going-to-have-a-stock-market-crash" target="_blank" rel="noreferrer noopener">Scaramucci on Trump Deportation Plan: ‘We're Going To Have a Stock Market Crash'</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cryptocurrency

Scaramucci Defends MicroStrategy's Bitcoin Strategy, Predicts Long-Term Crypto Growth

In a strategic effort to enhance monetization opportunities within the Telegram ecosystem, TON has been working with Adsgram, a dedicated advertising platform tailored for Telegram.



Adsgram emerged from its founder Vadim Sterlin&#8216;s firsthand challenges in monetizing his Fanton game, highlighting a broader issue faced by the GameFi community on Telegram and the TON network.



As a seasoned Adtech product manager, Sterlin highlighted earlier this year in the Adsgram community the scarcity of effective tools for publishers to generate revenue through advertising, underscoring the urgent need for innovative solutions in this space.



Benzinga recently caught up with Sterlin, the CEO and founder of Adsgram. Here's an excerpt from the interaction.   



What factors contributed to Adsgram attracting over 550 mini apps in just six months?



The market required a simple, clear, and scalable solution for monetizing mini-apps, and we were the first to deliver something to meet this growing demand. Our team has a wealth of experience in developing mini-apps, having built one of TON ecosystem's most popular mini-apps in the form of Fanton fantasy football. This gave us unique insights into what developers actually need, and enabled us to refine and optimize the platform for an experience that is as user-friendly as possible.&nbsp; This set us apart from our competitors and helped us to attract many mini-apps to Adsgram during the early stages of our project.



Monetizing Telegram mini-apps has historically been challenging. Individual applications often struggle to connect with advertisers, especially when they're looking to engage larger players in the advertising market. Adsgram filled this gap in the market by offering a unified and seamless solution to help mini apps find new audiences and grow their products.&nbsp;



How does Adsgram tailor advertising specifically for Telegram mini apps compared to traditional ad platforms?



The way that mini-apps bridge Web2 and Web3 is a fascinating aspect of the platform. This position at the intersection of these two worlds opens up exciting opportunities to implement strategies that bridge these two ecosystems. Initially, users were primarily drawn to ads for the rewards they offered in terms of user acquisition. Traffic characteristics and working funnels had to be adjusted, and users had to be educated on how to interact with the new model that we are looking to popularise.&nbsp; Over time, advertisers and users have adapted, creating a mutually beneficial system.&nbsp;



The hallmark of advertising in mini-apps is its simplicity. We intentionally set strict limits on the size of banners and video clips to ensure that any user, on any device, can easily view and engage with the advertising content. A recent innovation we've introduced is the ability for developers to target users by wallet. In addition to traditional targeting options, such as location, language, platform, and premium accounts, focusing on wallet activity grants a deeper understanding of user behaviour in the Web3 space &#8211; this allows advertisers to identify the most financially active and crypto-savvy users within the Telegram ecosystem.



What makes Adsgram attractive to large mobile applications and service providers as advertising partners?



The traffic generated through Telegram Mini Apps (TMA) is not only highly cost-effective but also exceptionally transaction oriented. This is particularly evident when looking at cryptocurrency, where many of the most successful recent projects have leveraged blockchain and airdrop technologies to drive engagement. What sets Adsgram apart is its ability to tap into Telegram's vast audience, which is now close to exceeding one billion users.



How did you identify the need for a dedicated advertising platform within the Telegram mini apps ecosystem?



In 2024, several applications experienced rapid growth, including Notcoin, Hamster Kombat, and Blum. However, all of them relied on inefficient, manual ad sales. This sparked our interest in automating ad sales and building an open, transparent advertising marketplace for Telegram mini-apps. To bring this vision to life, we collaborated with TON Foundation, who believed in our idea and supported the development of Adsgram.



What new features or enhancements can we expect from Adsgram as the mini app space continues to grow? We recently introduced additional targeting options for VPN and wallet users. Further enhancing targeting accuracy and precision will remain a key focus as Adsgram evolves. The market is evolving rapidly, bringing with it new demands for advertising. In response, we've already expanded our platform with several new advertising formats. In the future, we plan to introduce task functionality for our partners. This functionality will help to engage users with our advertising even further, with both the application hosting ads and the user earning crypto rewards for engaging with our product. These tasks will undergo manual moderation, ensuring quality and providing our partners with even more opportunities to earn.

Interview

Targeting Accuracy And Precision Will Remain A Key Focus As Adsgram Evolves, Says Vadim Sterlin

Crypto analyst Anthony Pompliano, founder of Pomp Investments, remains optimistic about Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) despite its recent drop below the $100,000 milestone. 



What Happened: In a recent interview with FOX 5, Pompliano predicted that "2025 will continue to be a great year for Bitcoin."



Pompliano outlined two key factors driving Bitcoin's future growth. "One, you're going to continue to get printing of money both in the United States and globally. And then two is you have a Federal Reserve that is cutting interest rates," he said. 



During the <a href="https://www.youtube.com/watch?v=sjqw8hGkDL8">interview</a>, he shared that the increasing M2 money supply and cheaper capital from lower interest rates are likely to fuel market gains. 



Pompliano also discussed why Bitcoin's growth and market cap expansion have made it more attractive to institutional investors. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380983/this-analyst-says-bitcoin-could-reach-200k-by-end-of-2025">This Analyst Says Bitcoin Could Reach $200K By End of 2025</a>



"When Bitcoin was at $1,000, large capital pools viewed it as too small and risky," he explained. However, Bitcoin's rise to a $2 trillion market cap has changed perceptions. "Now all of a sudden everyone's like, ‘Wait a second, I can put money in it. It's derisked.'"



He noted that as Bitcoin's price climbs, more institutional capital is likely to flow into the asset. "As large pools of capital come in to buy a finite-supply asset, price should continue to go up," Pompliano said, emphasizing Bitcoin's limited supply as a key driver of its long-term value.



Despite its recent volatility, Pompliano's outlook underscores the growing institutional acceptance of Bitcoin and its potential to achieve greater heights as a premier digital asset.



At the time of writing Bitcoin was trading at $95,805.13, down by almost 2 per cent in the last seven days. 



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155010/bitcoins-bull-run-betting-on-a-125k-finish-to-2024" target="_blank" rel="noreferrer noopener">Bitcoin's Bull Run: Betting On A $125K Finish To 2024</a>

Crypto Analyst: '2025 Will Continue To Be a Great Year for Bitcoin'

Peter Buffett, son of billionaire investor&nbsp;Warren Buffett, made a life-changing decision 47 years ago when he traded his inheritance to &#8220;buy time." Although he missed out on what would have been hundreds of millions of dollars in profit, he <a href="https://www.benzinga.com/topic/warren-buffett">stands by his decision</a>.



Finding His Path:&nbsp;At 19, Buffett received a portion of the proceeds from the sale of his grandfather's farm, which his father invested in Berkshire Hathaway Inc. (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>) (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>), amounting to $90,000, according to&nbsp;<a href="https://www.cnbc.com/2020/05/07/warren-buffett-son-doesnt-regret-spending-berkshire-stock-he-got-at-19-worth-200-million-now.html?utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=facebook&amp;fbclid=IwAR2ltNtAQUUEhAViImalKNS2NdjCrlgyZxhj00Z4cr2TZQJm1mqBy-thwSY">CNBC</a>. His father made it clear that this was all the financial support he would receive for personal use. Despite knowing it was his entire inheritance, Peter sold his Berkshire stock to fund his passion for music.



Buffett dropped out of Stanford University, purchased a modest studio apartment in San Francisco, and invested in upgrading his recording equipment. He dedicated his time to honing his piano and music production skills.



His big break came unexpectedly when a neighbor asked him about his profession, setting him on the path to a successful career in music.



He told the neighbor that he was a "struggling composer" and the neighbor offered to introduce him to his son-in-law who was an animator looking for ad tunes for a new cable station — it turned out to be&nbsp;<a href="https://www.benzinga.com/topic/mtv">MTV</a>.&nbsp;



Buffett is now 66 years of age and has released around 15&nbsp;studio albums over his successful career.&nbsp;



See Also:&nbsp;<a href="https://www.benzinga.com/personal-finance/24/12/42558080/warren-buffett-says-the-poorest-2-of-earners-live-better-than-john-d-rockefeller-richest-man-in-the-world-people-have-more-money-now">Warren Buffett Says The Poorest 2% Of Earners Live Better Than John D. Rockefeller – Richest Man In The World: &#8216;People Have More Money Now&#8217;</a>



The Path Not Taken:&nbsp;If the son of the legendary investor would have stayed in college and held onto his $90,000&nbsp;investment in Berkshire Hathaway, it would be worth over $400 million today.&nbsp;



"But I didn&#8217;t make that choice and I don&#8217;t regret it for a second.&nbsp;I used my nest egg to buy something infinitely more valuable than money: I used it to&nbsp;<a href="https://www.benzinga.com/news/23/04/31687018/couple-uses-huge-airbnb-profits-to-buy-time-they-only-spend-1-hour-working-per-week">buy time</a>," Buffett said.&nbsp;



That's a decision that his father would be proud of, he noted. The&nbsp;<a href="https://www.benzinga.com/topic/billionaires">billionaire</a>&nbsp;taught his son that work isn't about making as much money as possible, instead it's about doing something that you love to do.



Buffett acknowledged that the money was a privilege, calling it a gift that he had not earned.



&#8220;Without those hundreds of unpaid hours spent fiddling with my recording gear, I would not have found my sound or approach," Buffett said.&nbsp;



The musician used the money to buy time to pursue something that he enjoys waking up and doing&nbsp;each day, which is exactly what his father tells young people to do. The billionaire has previously recommended that people pursue careers they would want even if money was not part of the&nbsp;<a href="https://www.benzinga.com/news/23/03/31592697/if-you-want-to-move-forward-and-make-better-decisions-you-need-to-remember-these-3-words">decision-making process</a>.&nbsp;



Check This Out:



<ul>
<li><a href="https://www.benzinga.com/news/24/12/42597180/even-in-2023-charlie-munger-said-elon-musk-overestimates-himself-but-credited-his-success-to-one-key-factor">Even in 2023, Charlie Munger Said &#8216;Elon Musk Overestimates Himself&#8217; But Credited His Success to One Key Factor</a></li>
</ul>



This story is part of a new series of features on the subject of success,&nbsp;<a href="https://www.benzinga.com/topic/benzinga-inspire">Benzinga Inspire</a>.&nbsp;Some elements of this story were previously reported by Benzinga and it has been updated.



Photo: Shutterstock

Success Stories

Warren Buffett's Son's $90K Inheritance Would Be Worth More Than $400 Million Today, But He Sold His Berkshire Stock 47 Years Ago To Buy Something 'Infinitely More Valuable'

Mary Trump, niece of President-elect Donald Trump and one of his most vocal critics, has issued a stark warning about what to expect from her uncle's second administration. 



What Happened: Speaking on the podcast by The Daily Beast, Mary Trump referred to the upcoming presidency as a "regime" and described it as more dangerous than his first term.



During <a href="https://www.thedailybeast.com/why-trumps-niece-is-even-more-afraid-for-his-second-term/">the</a> interview, Mary Trump argued that the incoming administration, which she described as a "lame duck," will see Donald Trump "unleashed" because he will not face the pressures of reelection.



"He's not running for reelection. He doesn't have to play any games. He doesn't have to stay within the lines," she said, emphasizing that the lack of accountability could lead to more extreme policies and actions.



She said, &#8220;Trump&#8217;s presidency already is more dangerous than the first one as we see by his appointments and his nominations to key positions in the executive branch and then Cabinet positions."



Also Read: <a href="https://www.benzinga.com/news/24/12/42497190/mary-trump-slams-uncle-over-anti-birthright-citizenship-stance-a-deeply-ignorant-cruel-man">Mary Trump Slams Uncle Over Anti-Birthright Citizenship Stance: &#8216;A Deeply Ignorant, Cruel Man&#8217;</a>



She pointed to Trump's controversial Cabinet and executive branch nominations as evidence of the potential dangers. 



These include Pete Hegseth, a Fox News personality tapped for the Pentagon, and anti-vaccine advocate Robert F. Kennedy Jr., who has been nominated to lead the Department of Health and Human Services. 



Mary Trump characterized these appointments as alarming signs of the administration's direction.



"The most depressing thing," she said, "is that everybody in corporate media, everybody in the Republican Party, and a significant percentage of Donald's voters knew it was going to be more dangerous, and yet, here we are."



Mary Trump's comments underscore concerns among critics about the implications of Donald Trump's second term, which they believe could dramatically reshape key aspects of governance and policy.



Read Next



<a href="https://www.benzinga.com/news/24/11/42254896/mary-trump-slams-uncle-over-alleged-incident-involving-black-girls-hair-he-is-a-racist-after-all" target="_blank" rel="noreferrer noopener">Mary Trump Slams Uncle Over Alleged Incident Involving Black Girl's Hair: ‘He Is A Racist After All'</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image: Wikimedia Commons

Mary Trump's Warning: Donald Trump's Second Term 'Already Is More Dangerous Than the First'

In a world where hunger kills more people each year than malaria, tuberculosis and AIDS combined, Elon Musk's bold proposition in October 2021 sparked an unusual yet critical conversation.&nbsp;



The <a href="https://www.benzinga.com/personal-finance/24/07/39668044/labor-economist-says-if-elon-musk-paid-for-social-security-on-his-salary-for-an-entire-year-it-w">tech billionaire, known for electrifying industries</a> and aiming for Mars, turned his attention back to Earth when David Beasley, head of the UN's World Food Programme (WFP), pleaded for billionaires to step up now "on a one-time basis."



Beasley declared on CNN that "$6 billion to help 42 million people that are literally going to die if we don't reach them. It's not complicated."&nbsp;



Don't Miss:



<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>



<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>



Musk, <a href="https://www.benzinga.com/startups/24/12/42496960/elon-musk-tried-to-create-a-new-intergalactic-media-empire-called-thud-he-offered-2-million-to-onion-editors-and-poached-staff-away">never one to shy away</a> from a public challenge, fired back on X (formerly Twitter): "If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it."



<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">If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1454808104256737289?ref_src=twsrc%5Etfw">October 31, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The audacious response was classic Musk – direct and laced with a demand for transparency. He stipulated that the WFP's plan must include open-source accounting, ensuring the world could scrutinize every dollar.&nbsp;



See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>



In a separate post on X, tagging Musk, Beasley clarified that while the funds wouldn't end hunger entirely, they could prevent famine for millions on the brink of starvation. Rising to Musk's challenge, the WFP presented a comprehensive plan to use $6.6 billion to provide urgent relief to 42 million people across 43 nations.



In the document shared by Beasley, the WFP explained exactly how the money would be allocated. The largest portion –$3.5 billion – was designated for purchasing and delivering food directly to those in need. Another $2 billion was set aside for cash and food vouchers, including transaction fees, to be distributed in areas where local markets could still function.



To ensure the aid was effective, $700 million would go toward managing new food programs tailored to each country&#8217;s unique conditions, prioritizing the most vulnerable populations. To maintain transparency and efficiency, the final $400 million was earmarked for operations management, administration, accountability and supply chain coordination.



Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>



"The world is on fire," Beasley wrote on X, emphasizing the urgency of the situation and the need for swift, decisive action to combat the growing crisis.



While Musk didn't directly donate $6 billion to the WFP but he contributed $5.7 billion in Tesla stock to his Musk Foundation later that year. According to reports, the exact allocation of these funds remains opaque, leaving critics and supporters alike to speculate on their impact. Meanwhile, the hunger crisis deepened.&nbsp;



According to The State of Food Security and Nutrition in the World 2024 report, 733 million people – roughly one in eleven globally – face hunger. This number has hovered at alarming levels for three years straight, highlighting the scale of the challenge. Despite billions in aid and efforts from governments and NGOs, the <a href="https://www.benzinga.com/24/12/42531924/elon-musk-had-a-food-budget-of-30-a-month-his-diet-was-mostly-hot-dogs-and-oranges-in-america-its-pretty-easy-to-keep-yourself-alive">systemic issues fueling hunger</a> remain deeply entrenched.



Although Beasley may think billionaires are the ticket to solving the crisis, the reality is far more complex. While billionaires like Musk can make significant contributions, world hunger isn't a problem money alone can solve. The crisis stems from a tangled web of causes – conflict, climate change, economic inequality and broken supply chains – that demand systemic solutions.&nbsp;



Read Next:



<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>



<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
</ul>

Personal Finance

Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – 'I Will Sell Tesla Stock Right Now And Do It'

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