This week, LevelFields alerts delivered impressive returns. BNZI's mass layoffs that are expected to cut staffing expenses by 27%​ spurred a 82% gain in one day. CRNC announced a new CEO, driving a 42% gain in a single day. USAS also announced a new CEO, resulting in a 22.03% daily gain. MDU was added to the S&P Small Cap 600, leading to a 5.46% weekly return.

Bank Stocks Rise on Positive Earnings

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U.S. bank stocks surged to their highest levels since before the Silicon Valley Bank collapse, fueled by better-than-expected earnings from JPMorgan Chase and Wells Fargo. The strong performance supports hopes for an economic "soft landing," as consumers remain resilient despite rising interest rates. However, future pressure on bank profits is anticipated due to expected declines in net interest income.

JPMorgan and Wells Fargo both reported declines in third-quarter profits compared to the previous year, with drops of 2% and 11%, respectively. However, these falls were smaller than expected, and both banks saw significant growth in investment banking fees, which helped to offset the overall decline.

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Arcadium Lithium Jumps on Rio Tinto Buyout

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Following our earlier reports of a possible buyout, Rio Tinto announced a $6.7 billion all-cash deal to acquire Arcadium Lithium at $5.85 per share, expanding its access to lithium, a crucial component for electric vehicle batteries. The deal, pending shareholder approval, caused Arcadium’s stock to surge 31%. This acquisition aligns with Rio Tinto’s growth strategy amid declining lithium prices.

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Robot Wars: Tesla's Huge Event Leads to Huge Declines

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Tesla shares fell 8.8% after its highly anticipated robotaxi event disappointed investors. The event, focused more on entertainment than financial details, resulted in a $67 billion loss in market value, erasing more than the total worth of General Motors or Ford. This comes despite the fact that General Motors’ self-driving company Cruise and Uber Technologies recently inked a partnership. Competition from Baidu and Alphabet is also a threat. Baidu self-driving cabs are already operating commercially in China. Alphabet's Waymo stated they are doing more than 100,000 self-driving cab rides a week.

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Investors had expected more substantial business information from Elon Musk after months of buildup. While the vision was clear and included impressive demonstrations and dancing robots, the roadmap to get there was not so clear. Tesla stock fell over 12% to end the week and some analysts worry there's more pain to come.

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Short Selling Hedge Fund Hindenburg Research Targets Roblox

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Hindenburg Research revealed a short position in Roblox, alleging the company inflated user metrics by including bots and alternate accounts. The report also labeled Roblox as a "pedophile hellscape," exposing children to inappropriate content and grooming. Roblox's stock dropped 9.2% following the report. Roblox denied the accusations, calling the claims misleading. Hindenburg also suggested that engagement hours were overstated by potentially over 100%.

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