Veteran Wall Street investor Ed Yardeni is doubling down on one of the Street's most optimistic forecasts, projecting the S&amp;P 500 to hit 7,000 by <a href="https://www.benzinga.com/markets">the end of 2025. </a>



In a Friday newsletter, Yardeni reinforced his bullish outlook, positioning himself at the forefront of high-stakes predictions for the index's 2025 gains.



&#8220;We&#8217;ve been bullish on the stock market since October 2022. We remain bullish, targeting 7000 on the S&amp;P 500 by the end of next year. That puts us near the head of the pack,&#8221; he said. 



Oppenheimer sets its sights on an even loftier 7,100, while major investment bank firms, including Goldman Sachs, JPMorgan, and Morgan Stanley, hover around 6,500.



But will the market's stars align or are we looking at overly rosy predictions?



<h3 class="wp-block-heading">Top 10 Wall Street&#8217;s 2025 Year-End S&amp;P 500 Predictions</h3>



<figure class="wp-block-table is-style-stripes"><table><tbody><tr><td>Oppenheimer</td><td>7,100</td></tr><tr><td>Wells Fargo</td><td>7,007</td></tr><tr><td>Yardeni Research</td><td>7,000</td></tr><tr><td>Deutsche Bank</td><td>7,000</td></tr><tr><td>Societe Generale</td><td>6,750</td></tr><tr><td>BMO</td><td>6,700</td></tr><tr><td>HSBC</td><td>6,700</td></tr><tr><td>Bank of America</td><td>6,666</td></tr><tr><td>Scotiabank</td><td>6,650</td></tr><tr><td>Barclays</td><td>6,660</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Yardeni Research, as of Dec. 27, 2024</figcaption></figure>



<h3 class="wp-block-heading">Yardeni's Roaring 2020s Scenario</h3>



Yardeni's optimism stems from a &#8220;Roaring 2020s&#8221; scenario fueled by productivity gains, GDP growth of 3.0%-3.5%, and inflation cooling near 2.5%.



Earlier in November, he issued a bold prediction: the S&amp;P 500 – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – could climb to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41917731/wall-street-veteran-predicts-sp-500-to-hit-10000-by-2029-roaring-2020s">10,000 by the end of the decade</a>, buoyed by Donald Trump&#8216;s return to the presidency.



"We believe Trump 2.0 represents a major regime change that&#8217;s bullish for the economy and stocks," Yardeni said. 



Hr also anticipated a significant boost to corporate profit margins, driven by the proposed reduction in the corporate tax rate from 21% to 15%, coupled with tax breaks on individual income from tips, overtime and Social Security.



While much of the recent earnings growth has been dominated by the tech sector's "Magnificent 7," Yardeni foresees a broader rally on the horizon. 



"We expect to see a broadening of the companies and industries for which analysts raise their sights in 2025," he said.



<h3 class="wp-block-heading">Earnings: The Backbone Of The Rally</h3>



Yardeni forecasts operating earnings per share (EPS) for the S&amp;P 500 to hit $285 in 2025 &#8211; an 18.8% year-over-year jump, far above the Street&#8217;s consensus of $270. 



&#8220;We're leading the pack on EPS outlook," Yardeni stated, attributing the growth to a record profit margin of 13.9% and rising revenues per share, which are projected to climb 5.1% to $2,050.



Wall Street analysts expect robust earnings growth of 14.3% for 2025, up from the estimated 10% for 2024. 



<h3 class="wp-block-heading">Sector Winners And Losers: Tech Takes Retains The Crown</h3>



Tech continues to dominate, with the Information Technology sector predicted to post EPS growth of 21.7% in 2025, up from 20.4% in 2024, according to consensus estimates. 



Analysts also expect a rebound in Health Care, with EPS growth accelerating from 5.0% this year to 20.1% in 2025. Pharmaceuticals and Biotechnology are key drivers, with EPS expected to soar 33.1% and 30.9%, respectively.



The Materials sector is gearing up for a strong rebound, expected to shift from an 8.2% EPS decline in 2024 to an impressive 18.3% growth in 2025. 



Similarly, Industrials are set to thrive, fueled by Boeing's return to profitability and surging growth in key industries such as Copper, projected to rise by 37.6%, Commodity Chemicals by 33.1% and Construction Materials by 24.8%.



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Veteran Investor Bets Big On S&P 500 Hitting 7,000 By End Of 2025: These Sectors Could Lead The Charge

Ukraine said it received 150 sets of SpaceX's Starlink from Poland hours before Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk told the U.S. to pay for the high-speed internet services because it can no longer <a href="https://www.benzinga.com/news/22/10/29264636/elon-musks-spacex-asks-us-to-foot-the-bill-for-starlink-internet-services-in-ukraine-report-says-we">afford to give it to Ukraine for free.&nbsp;</a>



What Happened: Ukrainian Ministry of Reintegration of Temporarily Occupied Territories said the Starlink sets would allow it to quickly restore communication until the damaged infrastructure is rebuilt in the liberated regions.&nbsp;



See Also: <a href="https://www.benzinga.com/news/22/10/29264331/angered-by-elon-musks-special-administrative-zone-comments-taiwans-military-will-not-buy-tesla-cars">Elon Musk&#8217;s &#8216;Special Administrative Zone&#8217; Remarks Anger Taiwan&#8217;s Military, Says No More Tesla &#8216;Purchases&#8217;</a>



"Some of them are intended for mobile operators and Internet providers. Currently, mobile operators have restored 27 mobile base stations in the Kharkiv region and continue to restore others," it added.



This came days after Musk <a href="https://www.benzinga.com/news/22/10/29130474/ukraine-diplomat-asks-elon-musk-to-f-k-off-says-tesla-will-be-boycotted-in-the-country">drew massive flak on social media</a>, including from Ukrainian officials for polling his followers on what would be the most likely outcome of Russia's invasion of Ukraine.&nbsp;



Following his tweet, Ukraine&#8217;s outgoing ambassador to Germany, Andriy Melnyk, sharply replied to Musk. &#8220;F&#x2A;&#x2A;k off is my very diplomatic reply to you, Elon Musk,&#8221; he said.&nbsp;



<a href="https://www.benzinga.com/news/22/10/29129597/elon-musk-tells-zelenskyy-i-still-very-much-support-ukraine-but">Musk later defended it</a> to Ukrainian President Volodymyr Zelenskyy and said he supports Kyiv. "I still very much support Ukraine, but am convinced that massive escalation of the war will cause great harm to Ukraine and possibly the world," he said.&nbsp;



The billionaire entrepreneur early Friday on Twitter said SpaceX could not &#8220;indefinitely&#8221; fund the Starlink internet service in Ukraine and send it several thousand more terminals..



 Check out more of Benzinga&#8217;s Europe and Asia coverage by <a href="https://www.benzinga.com/topic/eurasia">following this link</a>.

News

Politics

TSLA

Ukraine Gets 150 Starlinks From Poland While Elon Musk Says He Can No Longer Afford To Give The Kits Away For Free

In a quiet week for economic data, Wall Street&#8217;s focus shifted to the possibility of witnessing a "Santa Rally," the seasonal tendency for stocks to rise in the <a href="https://www.benzinga.com/general/education/24/12/42675763/santa-rally-serial-winners-10-stocks-historically-poised-for-big-year-end-gains">final days of December. </a>



Historically, the S&amp;P 500 has gained 64 times in the past 96 years during the Dec. 24–Dec. 31 window, averaging a 0.85% return.



The market began the week attempting a recover from the Federal Reserve's hawkish signals of fewer rate cuts in 2024. Yet, renewed volatility resurfaced on Friday, casting doubt on the Santa rally's resilience.



Investors remain cautious, as markets weigh Fed policy outlook against uncertainty surrounding the incoming Trump administration's economic plans.



Still, 2024 is shaping up to be a banner year. The S&amp;P 500 is on track to match last year's 24% surge, setting up a two-year gain of 55%, the strongest since 1999. U.S. stocks are also outperforming global markets by the widest margin since 1997, driven by the enduring strength of U.S. economic fundamentals.



On the leaderboards, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) has surged 360%, overtaking Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), last year's top performer, which gained 175% in 2024.



Consumer Confidence Slips



U.S. consumer confidence, as measured by the Conference Board, declined in December, highlighting rising concerns <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42657230/us-consumer-confidence-drops-in-december-expectations-signal-potential-economic-weakness-in-2025">about economic conditions</a>. A deeper drop in the expectations index, a key forward-looking measure, signals potential weakness in 2025 amid fears of persistent inflation and steady, high interest rates.



Tesla's Robotaxi Bet



Elon Musk envisions a Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s robotaxi fleet allowing owners to earn $40,000 annually. Despite the bold prediction, experts question the feasibility of the technology and regulatory challenges, suggesting Musk's vision remains aspirational rather than immediately achievable <a href="https://www.benzinga.com/24/12/42642606/elon-musk-wants-to-raise-a-tesla-fleet-expert-estimates-vehicle-owners-can-make-40kyear-but-remains-doubtful">in the near term.</a>



Trump's Tariff Impact



Goldman Sachs projects the Trump administration will raise tariffs on Chinese imports, averaging a 20% hike, with higher rates for non-consumer goods. This could increase consumer prices by 1%-2%, strain industrial margins, disrupt supply chains and <a href="https://www.benzinga.com/government/regulations/24/12/42701155/made-in-china-paid-in-america-what-trumps-new-tariffs-mean-for-the-us-economy">ignite Chinese retaliatory measures,</a> the Wall Street firm says.



Cadillac EV Success



General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)&#8217;s Cadillac Lyriq, priced at $60,000, became its best-selling EV in 2024 through the third quarter. The premium EV's success highlights a potential shift toward luxury electric vehicles as automakers target higher <a href="https://www.benzinga.com/tech/24/12/42666472/gms-60000-cadillac-lyriq-was-its-best-selling-ev-in-2024-as-of-q3-is-premium-the-way-to-go-for-ev-makers">margins and affluent buyers.</a>



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Macro Economic Events

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NVDA

PLTR

Wall Street's Santa Rally At Risk, Palantir Dethrones Nvidia, Consumer Confidence Pulls Back: This Week In The Markets

This holiday season, <a href="https://www.benzinga.com/tech/24/12/42676715/openai-ceo-sam-altman-crowdsources-2025-goals-sora-upgrades-top-user-wishlist">OpenAI</a>'s employees and former staff could experience an extraordinary financial windfall. A private stock sale orchestrated by the San Francisco-based leading AI company will allow approximately 400 eligible participants to cash in up to $10 million each, marking one of the most lucrative employee payouts in the tech industry.



<h2 class="wp-block-heading">A Special Stock Sale</h2>



The opportunity comes via a tender offer from <a href="https://www.benzinga.com/news/global/24/12/42513807/trump-says-softbanks-100b-commitment-to-us-is-monumental-demonstration-of-confidence-in-americas-future">Japan's SoftBank Group</a>, which has agreed to purchase up to $1.6 billion of OpenAI stock at $210 per share. This price reflects OpenAI's valuation of $157 billion, which has doubled in just a year, according to Fortune. Eligible shareholders include current and former OpenAI employees who were issued restricted stock units more than two years ago.



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<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
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<h2 class="wp-block-heading">Who Benefits?</h2>



Current OpenAI employees will receive priority in this stock sale. Fortune reports they can cash out the maximum allowable amount of $10 million each. Former employees, while also eligible, may face limits depending on the level of participation. However, all participants are guaranteed to sell at least $2 million worth of stock, ensuring that everyone benefits from the opportunity.



The participation deadline was set for Dec. 24, so the resulting payout offers a timely holiday bonus for those involved. The eligible stock is reportedly valued at $2 billion, but some shares may remain unsold, with SoftBank purchasing $1.6 billion.



<h2 class="wp-block-heading">A Growing Valuation</h2>



OpenAI's stock sale aligns with its dramatic growth. According to CNBC, since the launch of ChatGPT, the company has raised $13 billion, including $6.6 billion in its most recent fundraising round in October. SoftBank initially invested $500 million during this round and its latest tender offer represents an even greater stake in the AI leader. Other notable investors include <a href="https://www.benzinga.com/news/24/12/42679515/microsoft-invested-nearly-14-billion-in-openai-but-now-its-reducing-its-dependence-on-the-chatgpt-pa">Microsoft</a> and chipmaker Nvidia.



See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



Tender offers like this have become increasingly important in the tech industry, especially given a subdued IPO market. By allowing employees to sell shares, companies like OpenAI provide liquidity to their teams while avoiding the pressures of going public.



<h2 class="wp-block-heading">Policy Revisions</h2>



This tender offer also reflects OpenAI's evolving policies toward secondary share sales. Past restrictions limited participation and raised employee concerns, but the company has since introduced changes to create a more inclusive process. Now, current and former employees have equal access to annual tender offers, ensuring a fairer system.



According to CNBC, the policy shift has quelled shareholder tensions while positioning OpenAI to maintain its capital-intensive operations. With plans to facilitate more secondary sales in the future, the company is addressing the growing demand for liquidity among tech workers.



Trending: 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>



<h2 class="wp-block-heading">Competition and Market Dynamics</h2>



OpenAI faces stiff competition from rivals such as Anthropic and tech giants like Google. Yet, the company's valuation and continued fundraising highlight its dominance in the rapidly expanding generative AI market. Bloomberg states it will generate $1 trillion in revenue within the next decade.



SoftBank's commitment to AI investments extends beyond OpenAI. The conglomerate has backed other startups, including Glean and Perplexity and recently announced plans with <a href="https://www.benzinga.com/24/12/42654769/tiktok-ban-under-trump-president-elect-wants-to-keep-months-after-pelosi-said-follow-the-money">President-elect Donald Trump</a> to allocate $100 billion toward projects in the U.S., according to The Associated Press.&nbsp;



<h2 class="wp-block-heading">Holiday Cheer for OpenAI Employees</h2>



This tender offer represents a rare opportunity for OpenAI's employees to turn their equity into tangible wealth. Whether they cash out partially or take full advantage of the $10 million cap, the payout is a testament to the company's success and commitment to rewarding its team.



OpenAI's stock sale reminds us of the financial opportunities available in the tech industry, especially for those working at the cutting edge of artificial intelligence.



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<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
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Startups

OpenAI's Big Holiday Payday: How 400 Employees Could Walk Away With $10 Million Each

Nine U.S. telecom firms have been hacked as part of a<a href="https://www.benzinga.com/government/24/10/41299017/lawmakers-demand-answers-from-at-t-verizon-and-lumen-over-chinese-hack"> Chinese-linked hacking campaign dubbed Salt Typhoon</a> as of Friday, top White House official Anne Neuberger said.



What Happened: Earlier this month, the Biden administration said that at least eight telecommunication companies have been affected by the hacking campaign. However, a ninth company has now been attacked, Neuberger, the U.S. deputy national security advisor for cyber and emerging technology,&nbsp;confirmed on Friday without revealing the name of the company. 



As per officials, the hackers gained access to the private communication of an <a href="https://www.benzinga.com/markets/asia/24/10/41556817/trump-vances-phone-data-reportedly-compromised-by-chinese-cyber-group">unknown number of Americans</a> as part of the campaign. A large number of affected individuals are in the Washington Virginia area, Neuberger said on Friday. 



&#8220;We believe it was the goal of identifying who those phones belong to and if they were government targets of interest for follow-on espionage and intelligence collection of communications, of texts, and phone calls on those particular phones,&#8221;&nbsp;she said. 



China, however, has previously denied responsibility for the hacking.



Why It Matters: &#8220;We wouldn't leave our homes, our offices unlocked, and yet our critical infrastructure — the private companies owning and operating our critical infrastructure often do not have the basic cybersecurity practices in place that would make our infrastructure riskier, costlier, and harder for countries and criminals to attack,&#8221; Neuberger said, while calling for defensible infrastructure. 



Voluntary cybersecurity practices, Neuberger said, are inadequate to protect against China Russia, and Iran&#8217;s hacking efforts.



The FCC has launched a notice of a public rule to ensure telecom companies are putting into place basic cybersecurity practices. It is now waiting for all commissioners to vote on the rule by Jan. 15.



&#8220;We really are eager to have the bipartisan support across the FCC to ensure that telecom companies must put in place those basic cybersecurity practices that would make it harder, riskier, and costlier for the Chinese to compromise those networks in the future,&#8221; Neuberger said on Friday.



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Photo courtesy: Wikimedia

Government

Global

Telecom Industry Targeted: Salt Typhoon Hackers Breach Nine Companies

U.S. Treasury Secretary Janet L Yellen reportedly said on Friday that the government has less than three weeks to raise its debt limit.



What Happened: Unless the government raises its debt limit, it will need to take &nbsp;"extraordinary measures" to sustain federal operations starting between Jan. 14 and Jan. 23, Yellen said in a letter to members of Congress, as <a href="https://www.washingtonpost.com/business/2024/12/27/debt-ceiling-yellen/">reported</a> by The Washington Post.



The government is starting to run out of money to finance its debt obligations, she noted while urging Congress to act.



Why It Matters: The debt ceiling refers to the limit of how much the Treasury can borrow. Failing to raise it risks a government default, jeopardizing programs like Social Security, Medicaid, and housing assistance. A default could also spike interest rates, as the U.S. might lose its reputation as a creditworthy borrower.&nbsp;



Earlier this month, President-elect&nbsp;Donald Trump <a href="https://www.benzinga.com/news/24/12/42635450/why-trump-wants-debt-ceiling-killed-before-he-takes-office">called for either raising or completely eliminating the borrowing limit</a>, a move that could resolve the issue before he assumes office and allow him to pursue his agenda without future debt-ceiling battles.



&#8220;Congress must get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling,&#8221; Trump wrote in a Truth Social&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113683687655180611" target="_blank" rel="noreferrer noopener">post</a>. &#8220;Without this, we should never make a deal. Remember, the pressure is on whoever is President.&#8221;



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Photos courtesy: Shutterstock and Flickr

US Government Has Less Than 3 Weeks To Raise Debt Ceiling Before Resorting To 'Extraordinary Measures,' Says Treasury Secretary Yellen

The world&#8217;s richest man Elon Musk earlier this week admitted to using the weight loss drug Mounjaro. 



What Happened: Musk on Christmas posted a picture of himself donning the Santa Claus costume with the caption &#8220;Ozempic Santa.&#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">Ozempic Santa <a href="https://t.co/7YECSNpWoz">pic.twitter.com/7YECSNpWoz</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1872086971557761348?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The billionaire later clarified that he uses Mounjaro but chose to caption his picture otherwise as Mounjaro doesn&#8217;t have the same &#8220;ring&#8221; to it as Ozempic. 



Musk said that he chose Mounjaro produced by Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) over Ozempic produced by&nbsp;Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) owing to seemingly fewer side effects. 



&#8220;High doses of Ozempic made me fart &amp; burp like Barney from the Simpson's. Mounjaro seems to have fewer side effects and be more effective,&#8221; he said. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">High doses of Ozempic made me fart &amp; burp like Barney from the Simpson's &#x1f923; Mounjaro seems to have fewer side effects and be more effective.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1872109586947428455?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk has previously voiced his support for weight loss drugs saying that the health benefits of reducing obesity far exceed the side effects of using the drugs.



&#8220;While no drug is without side effects, health problems associated with obesity almost certainly exceed the risks of GLP-1 agonists,&#8221; Musk said as early as Oct. 2023. GLP-1&nbsp;agonists are a class of medications that can help manage Type 2 diabetes and obesity.



Why It Matters: While Musk, who was named by President-elect Donald Trump to lead the Department of Government Efficiency, is all for weight-loss drugs, Robert F. Kennedy Jr. <a href="https://www.benzinga.com/general/health-care/24/12/42607280/elon-musk-vs-rfk-jr-obesity-crisis-debate-sparks-struggle-for-trumps-influence">is not.</a>



 In November, Trump selected Kennedy Jr.,&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42254495/trumps-hhs-pick-rfk-jr-has-a-long-history-of-challenging-global-health-policies">known for his outspoken skepticism about vaccines</a>, to lead the Department of Health and Human Services which oversees drug regulation, among other things. 



Kennedy Jr. has previously voiced criticism for Ozempic, terming it as a means of gladdening the wallets of distant Big Pharma execs. In September, he criticized a New York Times opinion piece on Ozempic saying that the piece failed to acknowledge the causes behind obesity such as &#8220;our sickening food system&#8221; and sedentary lifestyle. 



&#8220;According to the writer, obesity seems to be a matter of lack—a lack of bariatric surgeries and a lack of Ozempic courtesy of Novo Nordisk, a Danish multinational whose wealth is bigger than Denmark's entire economy. As this drug becomes more widely available, the journalist seems to suggest, &#8216;America's biggest health problem&#8217; will be under control,&#8221; he wrote about the piece on social media platform X.



&#8220;Instead of fixing our food system and addressing the obesity crisis at its root, the author focuses on a drug that may palliate the symptom – and gladden the wallets of distant Big Pharma execs.&#8221;



&#8220;When I'm working in the next administration, I will address our sick food system—and the corrupt government agencies—to help make our country healthy again,&#8221; Kennedy Jr. then said while also adding that people should consider kitchen gardens instead of sending money to Denmark.



<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">The MSM cheerleading for Ozempic has begun! New op-ed in the NYT "Opinion &#x7C; Is Obesity a Disease? It's Complicated in the Age of Ozempic" does make a valid point: that weight-shaming is cruel and that obesity is not a failure of character (we are not, she rightly and humanely…&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1839286350626914756?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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Photo courtesy: Shutterstock

Regulations

Elon Musk Admits To Using Weight Loss Medication Criticized By RFK Jr, Says He Prefers Mounjaro Over Miracle Drug Ozempic

Cyberhaven, a data-loss prevention startup, has confirmed a security breach involving its Google Chrome <a href="https://www.benzinga.com/topic/google-chrome">browser extension</a>. Hackers managed to release a malicious update capable of stealing user passwords and session tokens.



What Happened: The breach was confirmed by&nbsp;Cyberhaven&nbsp;on Friday, although specifics were not disclosed. The email, shared&nbsp;by security researcher Matt Johansen,&nbsp;revealed that a company account was compromised to release the malicious update on Dec. 25.



This update allowed sensitive data to be extracted to the attacker&#8217;s domain.



The company stated that its security team identified the breach on December 25 and removed the malicious extension from the Chrome Web Store, replacing it with a legitimate version, according <a href="https://www.vulnu.com/p/breaking-cyberhaven-chrome-extension-compromised">to</a> a report by Vulnerable U.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42677149/nvidia-ces-2025-keynote-how-to-watch-jensen-huang-unveil-the-rtx-5000-series-gpus?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CES 2025 Keynote: How To Watch Jensen Huang Unveil The RTX 5000 Series GPUs</a>



Cyberhaven&#8217;s email advised affected users to revoke and rotate passwords and review logs for suspicious activity.



The company has engaged an incident response firm and is cooperating with federal law enforcement.



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 breach highlights ongoing security challenges related to browser extensions.



Earlier this year,&nbsp;<a href="https://www.benzinga.com/news/24/04/38031117/has-chrome-been-tracking-you-during-incognito-mode-the-answer-is-yes-and-now-google-says-it-will-del">Google faced scrutiny</a>&nbsp;over its Chrome browser&#8217;s privacy practices, particularly in &#8220;incognito&#8221; mode, where data collection was found to occur without user consent. This incident underscores the importance of robust security measures in browser extensions.



Amid these security concerns, <a href="https://www.benzinga.com/news/24/05/38684470/google-to-wield-ai-for-new-cybersecurity-tool-dubbed-threat-intelligence">Google has recently</a> integrated AI in its Threat Intelligence tool to enhance its cybersecurity posture. This tool aims to rapidly identify vulnerabilities, which could be crucial in preventing similar breaches.



The search giant also <a href="https://www.benzinga.com/markets/equities/24/10/41375089/google-urges-9th-circuit-to-halt-dangerous-epic-ruling-cites-substantial-new-security-risks">filed an appeal</a>&nbsp;against the Epic Games ruling, citing a higher risk of new security issues.



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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



Photo courtesy: Unsplash

Google Chrome Users Beware This Holiday Season: Cyber Security Firm's Browser Extension Hijacked By Attackers

Chinese EV startup Li Auto&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) founder and CEO Li Xiang on Friday reportedly backed the use of LiDAR technology in the company&#8217;s vehicles, saying it is necessary on the roads in China.



What Happened: "I believe that if Musk had ever driven on different highways in China deep in the night, he would have chosen to keep a LiDAR in the front as well," Li Xiang said at an AI talk event on Friday, as <a href="https://cnevpost.com/2024/12/27/tesla-would-use-lidar-if-musk-drove-on-china-highways-night/">reported</a> by CNEVPOST. The CEO was responding to a question on why Li Auto continues to use LiDAR when Tesla doesn&#8217;t.



"China is different from the US. If you regularly drive at night in China, you&#8217;ll see large trucks with broken taillights, and the large trucks with broken taillights maybe even parked right on the main road," the CEO said while adding that the company will continue to use the technology in future vehicle models. LiDAR, he said, helps ensure safety on the road. 



LiDAR, short for Light Detection and Ranging, is a remote sensing technology that uses laser light to measure distances and create detailed three-dimensional representations of surfaces and objects.



Why It Matters: Tesla Inc. CEO Elon Musk has previously criticized LiDAR, <a href="https://www.benzinga.com/news/24/11/41699028/tesla-investor-says-ev-giant-will-admit-it-needs-lidar-despite-elon-musk-calling-it-a-crutch">terming it a &#8220;crutch</a>&#8220;. None of the company's sold vehicles have lidars. In 2022, the company also removed ultrasonic sensors from its vehicles to rely solely on cameras.



"Did my best to warn people that LiDAR isn&#8217;t optimal for cars. Roads are designed for biological neural nets &amp; eyes, so digital neural nets &amp; cameras will work best," Musk said in Aug. 2023.



Chinese EV maker XPeng also dropped of use of LiDAR in its new P7+ sedan launched last month.



However, not all are in agreement. 



&#8220;…you really do need significantly more hardware than Tesla is putting in the vehicles to build a robotaxi that&#8217;s not just as safe but especially safer than a human,&#8221;&nbsp;Zoox&nbsp;co-founder&nbsp;Jesse Levinson&nbsp;<a href="https://www.benzinga.com/news/24/10/41645383/elon-musk-slams-zoox-co-founder-over-fsd-criticism-your-company-would-be-dead-already-if-not-for-ama">opined in October</a> while adding that there is a need for sensor data despite advancements in AI to protect against camera malfunctions and ensure fully safe rides.



Alphabet Inc.'s&nbsp;autonomous ride-hail company&nbsp;Waymo&nbsp;also <a href="https://www.benzinga.com/news/24/11/41676465/tesla-can-make-cybercab-for-the-same-money-it-takes-waymo-to-install-lidar-sensors-on-its-robotaxi-s">continues to use LiDAR</a> in its robotaxis.&nbsp;



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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Li Auto CEO Defends Use Of LiDAR Despite Tesla CEO Elon Musk's Criticism: 'If Musk Had Ever Driven On Different Highways In China...'

Honda&nbsp;Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>)&nbsp;CEO Toshihiro Mibe reportedly found it difficult to <a href="https://www.benzinga.com/24/12/42642773/honda-nissan-start-merger-talks">explain why its merger</a> with Nissan&nbsp;Motor Co. Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) is justified.



What Happened:&nbsp;Mibe encountered a challenging moment when asked to explain the reasoning behind a possible merger with&nbsp;Nissan.



When asked why the Honda-Nissan merger makes business sense, Mibe hesitated before replying, &#8220;That&#8217;s a difficult one,&#8221; which drew laughter from the journalists present, according <a href="https://insideevs.com/news/745625/honda-nissan-merger-struggling-reason/">to</a> a report by InsideEVs.



The merger discussions have generated both curiosity and skepticism worldwide, with many questioning the strategic advantages for the two automakers.&nbsp;Honda&nbsp;is grappling with challenges in the electric vehicle sector, particularly after its partnership with&nbsp;General Motors&nbsp;ended.



Despite the doubts,&nbsp;Julie Boote,&nbsp;an auto analyst with Pelham&nbsp;Smithers Associates, <a href="https://www.bloomberg.com/news/articles/2024-12-26/for-honda-a-nissan-rescue-comes-with-only-a-thin-silver-lining">told</a>&nbsp;Bloomberg&nbsp;that&nbsp;Honda&nbsp;must collaborate with another company to boost its EV and software capabilities.



See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42680075/tesla-exec-says-we-will-be-ready-to-efficiently-produce-autonomous-vehicles-as-shanghai-megafactory-nears-completion?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Exec Says &#8216;We Will Be Ready&#8217; To Efficiently Produce Autonomous Vehicles As Shanghai Megafactory Nears Completion</a>



Former&nbsp;Nissan&nbsp;CEO&nbsp;Carlos Ghosn&nbsp;criticized the merger, stating,&nbsp;"That means you're putting control&nbsp;above performance," according <a href="https://www.bloomberg.com/news/articles/2024-12-20/ghosn-says-honda-deal-talks-indicate-nissan-is-in-panic-mode">to</a> a Bloomberg report.



Why It Matters: Honda and Nissan are <a href="https://www.benzinga.com/24/12/42642773/honda-nissan-start-merger-talks">planning to create a joint holding company</a>, which will be listed on the Tokyo Stock Exchange by August 2026. This move could potentially lead to the delisting of both&nbsp;Honda&nbsp;and&nbsp;Nissan.



Earlier reports&nbsp;highlighted that the <a href="https://www.benzinga.com/news/global/24/12/42541842/japanese-auto-giants-nissan-honda-eye-merger-says-nikkei">merger could involve&nbsp;Mitsubishi Motors</a>, where&nbsp;Nissan&nbsp;holds a 24% stake.



If successful, the combined entity could achieve annual sales exceeding eight million vehicles, positioning it among the world&#8217;s largest automakers, though still trailing behind&nbsp;Toyota Motor Corp.&nbsp;and&nbsp;Volkswagen AG.



Following the merger talks,&nbsp;Nissan&#8216;s <a href="https://www.benzinga.com/markets/asia/24/12/42545185/nissan-soar-over-20-on-merger-talks-with-honda-eyeing-8-million-annual-vehicle-sales">stock surged over 20%</a>, while&nbsp;Honda&#8216;s stock saw a slight decline.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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



Photo courtesy: Shutterstock

NSANY

Honda CEO Struggles To Justify Potential Nissan Merger: 'That's A Difficult One'

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is now offering free lifetime supercharging on the purchase of <a href="https://www.benzinga.com/topic/tesla-cybertruck">foundation series Cybertrucks</a> from its inventory in a bid to make it more enticing to potential buyers.



What Happened: Under the limited-period offer, customers who purchase the foundation series Cybertruck on or after Dec. 27 will be eligible for free supercharging during their ownership of the vehicle.



However, the vehicle owner will have to continue to pay supercharger fees like idle or congestion fees. While congestion fees refer to the charges to be paid by drivers who charge their electric vehicles beyond a certain level at &#8220;busy&#8221; supercharger stations, idle fees apply when vehicles stay connected to the charger post-full charging.



The offer cannot be transferred to another vehicle or person, the company noted on its website.



Earlier this month, Benzinga reported that Tesla is <a href="https://www.benzinga.com/tech/24/12/42524912/teslas-99k-foundation-series-cybertrucks-still-available-a-sign-of-possible-demand-hurdles">continuing to sell its premium foundation series Cybertrucks in its inventory</a> in the U.S., implying that the company hasn't yet entirely sold out the units of the limited edition stainless steel truck it produced.



Why It Matters: Tesla's inventory in the U.S. now shows multiple new foundation series Cybertrucks, including the all-wheel drive variant and the more expensive Cyberbeast variant. While the foundation series all-wheel drive variant is priced at $99,990, the Cyberbeast is priced at $119,990.



The foundation series refers to a limited and pricier edition of the Cybertruck with laser-etched foundation series badges and premium accessories.



Tesla made only the foundation series Cybertrucks for the first few months of deliveries. Earlier this year, in October, Tesla started selling the regular version of Cybertruck priced about $20,000 lower than the foundation series. 



The foundation series trucks manufactured by the company for the U.S. market haven't seemingly been sold in totality, hinting at significant<a href="https://www.benzinga.com/24/12/42501487/cybertruck-production-rate-was-reduced-even-before-decembers-production-pause-says-tesla-researcher"> demand challenges for the truck</a>.



Early in December, Tesla told its workers on the Cybertruck production line at Giga Texas that they need not report to <a href="https://www.benzinga.com/24/12/42283708/tesla-gives-cybertruck-production-line-workers-three-days-off-report" target="_blank" rel="noreferrer noopener">work for three days from Dec. 3 to Dec. 5</a>, implying a brief pause in production.



Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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Photo courtesy: Shutterstock

Tesla Offers Free Lifetime Supercharging With Foundation Series Cybertruck As It Looks To Clear Inventory

Jensen Huang, the CEO and cofounder of Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), is making headlines for more than just his company's dominance in AI chips. Huang is allegedly leveraging <a href="https://www.benzinga.com/money/how-to-reduce-taxable-income-for-high-earners">legal tax strategies</a> to protect an estimated $8 billion from federal estate and gift taxes, according to a recent investigation by The New York Times. This staggering number has spurred a wider discussion about how the ultrawealthy use legal loopholes to safeguard their money.



<h2 class="wp-block-heading">The NYT's Findings on Huang's Wealth Strategies</h2>



Huang&#8217;s net worth was $127 billion when the report was released in early December. According to the NYT, he has used a number of financial strategies to <a href="https://www.benzinga.com/money/ownwell">reduce estate taxes</a>. These include instruments such as donor-advised funds (DAFs), grantor-retained annuity trusts (GRATs) and irrevocable trusts. By doing so, Huang could pass on much of his fortune to his descendants with minimal tax liability.



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One of the most notable examples cited by the NYT involves an irrevocable trust Huang and his wife set up in 2012. They transferred Nvidia shares worth $7 million into the trust, which has since grown in value to over $3 billion. Normally, the tax on that kind of wealth would be about 40%, but the trust helps them pay much less – perhaps just a few hundred thousand dollars.



As Lewis &amp; Clark Law School professor Jack Bogdanski told the NYT, "You have an army of well-trained, brilliant people who sit there all day long, charging $1,000 an hour, thinking up ways to beat this tax. Don't expect anyone in Congress to stop this."



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>



<h2 class="wp-block-heading">What's the Bigger Picture?</h2>



The NYT&#8217;s investigation provides a broader view of the continuous erosion of estate taxes over time. Huang&#8217;s tactics are becoming increasingly popular, even though these taxes are meant to impact only the wealthiest Americans. Thanks to these methods, experts estimate that about $200 billion gets passed down each year without being taxed.



To make matters worse, funding constraints have reduced the Internal Revenue Service&#8217;s (IRS) ability to enforce the law. During the early 1990s, audits of more than 20% of estate tax returns were conducted. The NYT reports that number has now fallen to roughly 3%.



Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



<h2 class="wp-block-heading">Charitable Contributions and Scrutiny</h2>



While Huang's philanthropy is well-documented, critics also scrutinized his use of DAFs, which lack transparency and accountability. Through the Jen Hsun &amp; Lori Huang Foundation, the couple has <a href="https://www.benzinga.com/startups/24/10/41124309/nvidias-jensen-huangs-wealth-exploded-in-five-years-to-108-billion-heres-why-his-philanthropy-is-bei">donated Nvidia shares</a> worth hundreds of millions of dollars to these funds. Although these contributions reduce Huang's taxable estate, the funds are not required to distribute money to charities immediately, leaving room for criticism about their actual societal impact.



<h2 class="wp-block-heading">The Debate Continues</h2>



Huang's financial strategies highlight the growing divide between the ultrawealthy and the <a href="https://www.benzinga.com/general/24/04/38295912/biden-promised-irs-funding-wouldnt-increase-audits-for-regular-americans-as-irs-audits-poorest-ameri">broader taxpaying public</a>. While these tactics are legal, they underscore how accessible loopholes can result in massive tax savings for billionaires. As the debate over wealth inequality and tax fairness continues, Huang's story may become a case study in how the richest Americans protect their fortunes.



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NYT Report Says Jensen Huang, The CEO Of Nvidia And The 10th-Richest Person In The U.S., Trying To Allegedly Avoid $8 Billion In Taxes

Editor&#8217;s Note: This story has been updated with a statement from Boeing.



Planemaker Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is reportedly witnessing an increased number of its engineers leaving for space companies. 



What Happened: The average tenure of a Boeing engineer has dropped to 12.6 years from 16.4 years over the last decade, the Financial Times <a href="https://www.ft.com/content/5dea45ef-25c7-4b5c-ad8a-9984ec66bf53">reported</a>, citing data from&nbsp;the Society of Professional Engineering Employees in Aerospace, a union representing 12,000 Boeing engineers. As per union data, the tenure is shortening in every age bracket.



The departure of engineering talent could make it harder for the company to launch a new plane, the report noted, while adding that the struggling plane maker is serving as a good place for space companies like SpaceX and Blue Origin to poach talent from.



While rival space companies continue to aim big and develop new vehicles, Boeing is <a href="https://www.benzinga.com/tech/24/12/42377203/boeing-chief-lobbyist-ziad-ojakli-leaves-troubled-planemaker-report">yet to announce a new plane</a>, FT noted. 



"Boeing is an airplane company and at the right time in the future, we need to develop a new airplane. But we have a lot of work to do before then," Ortberg said during the company&#8217;s third-quarter earnings call.



 Boeing, however, told <a href="http://pro.benzinga.com/dashboard">Benzinga</a> a statement that the voluntary attrition rate for Boeing Engineering has remained in the low single digits.



&#8220;In this dynamic industry, Boeing continues to be in a strong position to compete for and retain top aerospace engineering talent with market-leading pay, benefits and work-life balance. Over several years, the voluntary attrition rate for Boeing Engineering has remained in the low single digits and has decreased since 2022,&#8221; the company spokesperson said.



Why It Matters: Boeing has been struggling since the start of the year when a door panel flew off an Alaska Airlines jet manufactured by the company. 



Later in the year, technical issues were identified with the Starliner spacecraft manufactured by the company, causing space agency NASA to opt out of bringing back the two astronauts who flew on Starliner to the International Space Station on the same spacecraft. The astronauts are now slated to return to Earth on a SpaceX Dragon spacecraft no earlier than March. 



Boeing CEO Kelly Ortberg said in October that Boeing would downsize its workforce by 10%. The layoff is <a href="https://www.benzinga.com/markets/equities/24/10/41301576/boeing-announces-10-workforce-reduction-amidst-ongoing-struggles-impacting-nearly-17k-employees">expected to impact nearly 17,000 jobs</a>. Ortberg then said that the layoffs are necessary to align with Boeing's financial reality and future recovery plans.



Price Action: Boeing shares closed up 0.6% at $180.38 on Thursday. The stock is down 28.4% year-to-date, according to data from Benzinga Pro. 



Boeing has a consensus price target of&nbsp;$197.85&nbsp;based on the ratings of&nbsp;23&nbsp;analysts tracked by Benzinga. The analysts have a consensus &#8220;buy&#8221; rating on the stock.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="923" height="338" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27060611/image-214.png" alt="" class="wp-image-709030" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27060611/image-214.png 923w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27060611/image-214-300x110.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/27060611/image-214-768x281.png 768w" sizes="(max-width: 923px) 100vw, 923px" /></figure>



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Photo courtesy: Shutterstock

Boeing Engineers Leave Struggling Planemaker For Space Companies: Report (Updated)

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