Leading cryptocurrencies dipped on Tuesday even as Federal Reserve Chair Jerome Powell made remarks seen as favorable for the industry during a Senate hearing.&nbsp;



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-1.92%</td><td>$96,012.26</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.34%</td><td>$2,607.85</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.87%</td><td>$0.2531</td></tr></tbody></table></figure>



What Happened: Bitcoin started to slide in the morning hours and hit an intraday low of $94,875.04 before recovering to $96,000 late evening.



Ethereum fell back to the $2,600 zone a day after breaching $2,700. The two leading assets were down 2.61% and 5.19%, respectively, over the week.



In a significant development, Fed Chair Powell assured to "take a fresh look" at debanking, which the cryptocurrency industry had <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43477333/crypto-czar-sacks-says-potential-bitcoin-reserve-to-be-one-of-crypto-committees-first-priorities">complained</a> about during the previous administration.



Powell also stated that the Fed won't develop a central bank digital currency under his watch during his testimony before the Senate Banking Committee.



Meanwhile, cryptocurrency liquidations reached $228 million over the last 24 hours, with long liquidations accounting for $154 million.



Bitcoin's Open Interest rose by 1.49% in the last 24 hours. A rise in Open Interest, coming alongside a price drop, indicated the opening of new short positions.



That said, the number of traders betting on Bitcoin's price increase was still higher than targeting price declines, according to the Long/Short ratio.



Market sentiment returned to the "Fear" zone, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Virtuals Protocol (VIRTUALS)</td><td>+6.57%</td><td>$1.32</td></tr><tr><td>Cardano (ADA)</td><td>+5.60%</td><td>$0.7785</td></tr><tr><td>Bittensor (TAO)</td><td>+3.90%</td><td>$410.60</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.15 trillion, declining by 1.68% in the last 24 hours.



Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average rose 123.24 points, or 0.28%, to close at 44,593.65. The S&amp;P 500 eked out a narrow gain of 0.03%, ending at 6,068.50. The tech-heavy Nasdaq Composite, on the other hand, fell 0.36% to close at 19,643.86.



Investors parsed comments from Powell that the Fed <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43635364/us-stocks-dip-as-powell-stays-cautious-intel-climbs-tesla-sinks-to-11-week-low">was not in a hurry to lower interest rates</a>.



The focus now shifts to the crucial <a href="https://www.benzinga.com/25/02/43627524/economists-betting-markets-predict-benign-january-inflation-what-could-go-wrong-this-time">consumer price index report</a>, slated for release on Wednesday.&nbsp;



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Popular cryptocurrency analyst and trader Ali Martinez noted Bitcoin's accumulation trend score was close to zero, indicating that the apex digital asset was undergoing consolidation.



"A shift in demand here could set the stage for the next big move," the analyst predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> accumulation trend score is near zero, signaling a period of consolidation. A shift in demand here could set the stage for the next big move! <a href="https://t.co/0nSIt1qKY8">pic.twitter.com/0nSIt1qKY8</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1889449586843902273?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed analyst, Rekt Capital, stated that Bitcoin needs a daily close above $97,700 or reclaim the level as support to justify a bullish move toward $101,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin continues to enjoy price stability at the blue diagonal trendline support which is a positive However, BTC needs a Daily Close above ~$97700 (light blue) and/or reclaim said level as support to build on its momentum towards $101k (black)<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/LdmHPHoyuv">https://t.co/LdmHPHoyuv</a> <a href="https://t.co/zU7GvOudp3">pic.twitter.com/zU7GvOudp3</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1889287102384185538?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43636904/anthony-scaramucci-warns-meme-coins-create-market-contagion-fuel-bitcoin-skepticism">Anthony Scaramucci Warns Meme Coins Create Market Contagion, Fuel Bitcoin Skepticism</a></li>
</ul>

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Dip Even As Fed Chair Powell Says No To CBDC: Analyst Says BTC Under Consolidation But 'Next Big Move' Likely

Wedbush Securities analyst Dan Ives predicts Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) could emerge as a dominant force in the artificial intelligence software landscape, comparing it to industry giants Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).



What Happened: In a CNBC interview <a href="https://www.youtube.com/watch?v=IjS1KOIuy_0">on</a> Tuesday, Ives highlighted the multiplier effect of AI infrastructure spending, noting that &#8220;for every dollar spent on Nvidia chip, there&#8217;s an 8 to $10 multiplier across tech, across the ecosystem software.&#8221; He emphasized that this trend is particularly evident in companies like Palantir and Salesforce.



The analyst&#8217;s bullish stance on Palantir comes amid the company&#8217;s remarkable stock performance, with shares up nearly 350% over the past year. The AI software firm recently reported strong fourth-quarter results, with revenue reaching $827.52 million, exceeding analyst expectations of $775.91 million.



Ives pointed to Jevons Paradox &#8211; an economic theory suggesting increased efficiency leads to higher demand &#8211; as a key driver of AI software adoption. &#8220;This is the software age that&#8217;s now starting to take place,&#8221; Ives stated, predicting &#8220;a massive spending wave in 2025.



See Also: <a href="https://www.benzinga.com/news/earnings/25/02/43641962/lyft-q4-earnings-revenue-beat-gross-bookings-up-15-new-buyback-our-biggest-competition-is-inertia">Lyft Q4 Earnings: Revenue Beat, Gross Bookings Up 15%, New Buyback — &#8216;Our Biggest Competition Is Inertia&#8217;</a>



Why It Matters: The optimistic outlook aligns with Palantir CEO Alex Karp&#8216;s <a href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-this-is-a-new-phase-unlike-anything-that-has-come-before">recent shareholder letter</a>, where he described the current period as &#8220;the beginning of the first act of a revolution.&#8221; The company&#8217;s growth is particularly strong in U.S. operations, with commercial revenue up 64% year-over-year to $214 million.



Despite Palantir&#8217;s high valuation metrics, including a price-to-earnings ratio of 613.95 and market capitalization of $258 billion, former hedge fund manager Martin Shkreli projects the company&#8217;s cash flow from operations to reach $1.8 billion in 2025 and $2.7 billion by 2026, suggesting potential <a href="https://www.benzinga.com/markets/equities/25/02/43485885/pharma-bro-martin-shkreli-defends-palantirs-valuation-amid-24-surge-says-ai-firms-cash-flow-justifies-expensive-price">justification for the premium valuation</a>.



The stock&#8217;s <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">consensus price target</a> stands at $65.50, based on 23 analyst ratings. The highest target is $125, while the lowest is $7.50. The most recent ratings from Citigroup, RBC Capital, and UBS suggest an average price target of $85, implying a 24.95% downside from current levels. 



<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11210050/Screenshot-2025-02-12-at-7.30.01%E2%80%AFAM-1024x374.png" alt="" class="wp-image-777566" style="width:686px;height:auto"/></figure>



Price Action: Palantir stock has surged 340% in 2024, trading within a 52-week range of $20.33 to $116.76. It closed at $112.62 on Tuesday, down 3.45%, with a slight 0.56% after-hours recovery, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/02/43641265/upstart-q4">Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance</a></li>
</ul>



Image Via Shutterstock 



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

Equities

ORCL

PLTR

Dan Ives Says Palantir Could Be Next Oracle Or Salesforce As AI Boom Drives Massive Software Spending, Highlights 8-10x Multiplier Effect

On Tuesday, Cathie Wood-led Ark Invest executed several significant trades, including the sale of shares in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>). Ark purchased shares of Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



The Palantir Trade saw Ark Invest selling 252,261 shares of Palantir through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This sale is valued at approximately $28.4 million based on the latest closing price of $112.62.



The company&#8217;s strong fourth-quarter earnings report revealed revenue of $827.52 million, surpassing analyst expectations. Adjusted earnings per share also exceeded forecasts, contributing to the stock&#8217;s upward momentum. 



Earlier on Monday, Ark sold <a href="https://www.benzinga.com/25/02/43613535/cathie-wood-dumps-16-million-worth-of-palantir-stock-after-record-highs">almost $16 million </a>worth of Palantir shares after the stock hit record highs.



The Robinhood Trade involved Ark&#8217;s sale of 79,267 Robinhood shares via ARKW, as the company prepares for its fourth-quarter earnings report. Analysts anticipate a <a href="https://in.benzinga.com/25/02/43641644/robinhood-q4-earnings-preview-can-company-rebound-from-q3-miss-key-items-to-watch">significant revenue increase</a> compared to the previous year. Ark&#8217;s engagement with Robinhood suggests an optimistic outlook on the company&#8217;s potential rebound. 



The Shopify Trade involved Ark Invest&#8217;s purchase of 24,442 shares in Shopify through ARKW following the company&#8217;s robust fourth-quarter earnings. The trade was valued at $3.92 million, based on the stock&#8217;s closing price of $123.59 on Tuesday. 



Shopify reported a 31% year-over-year <a href="https://in.benzinga.com/news/earnings/25/02/43622684/shopify-q4-earnings-31-revenue-surge-free-cash-flow-growth-gmv-hits-94-5-billion">revenue increase</a> in the fourth quarter, reaching $2.81 billion, which exceeded analyst expectations. This marked the seventh consecutive quarter of over 25% revenue growth. 



The AMD Trade saw Ark Invest engaging with AMD, despite recent challenges. AMD&#8217;s shares experienced a decline after the company guided a 7% drop in first-quarter data center revenue. The fourth-quarter earnings report revealed <a href="https://in.benzinga.com/news/earnings/25/02/43502339/amd-shares-drop-after-ceo-guides-q1-data-center-revenue-down-7">data center revenues below expectations</a>, impacting investor sentiment. 



Ark bought 11,711 AMD shares via ARKW. The transaction was valued at $1.3 million. AMD shares ended Tuesday at $111.10.



The TSMC Trade saw Ark picking up 4,417 shares of the chipmaker through ARKW amid plans for a <a href="https://www.benzinga.com/government/regulations/25/02/43432143/taiwan-semiconductor-plans-massive-1nm-fab-25-in-taiwan-boosting-advanced-chipmaking-capacity">new 1nm fabrication facility</a> in Taiwan. The trade was valued at $922,004. For the day TSMC shares closed at $208.74.This expansion aims to boost advanced chipmaking capacity, positioning TSM for future growth. The strategic move aligns with global demand for semiconductor advancements. 



The Amazon Trade involved ARKF fund acquiring 19,726 shares of Amazon. With Amazon&#8217;s stock closing at $232.76, this purchase translates to an investment of approximately $4.59 million. This move aligns with recent analyst predictions, including those from <a href="https://www.benzinga.com/25/02/43472744/amazon-poised-for-strong-q4-with-aws-growth-and-north-america-retail-margin-expansion-says-bofa">BofA Securities</a>, which foresee Amazon&#8217;s strong performance in the fourth quarter, driven by AWS growth and improved retail margins in North America. The analyst maintained a Buy rating with a target price of $255, reflecting confidence in Amazon&#8217;s future potential.



Other Key Trades:



<ul>
<li>Sold 660,520 shares of Accolade Inc through ARKG.</li>



<li>Bought 44,653 shares of Illumina Inc through ARKK and 7,780 shares through ARKG.</li>



<li>Sold 517,713 shares of UiPath Inc through ARKK, 218,747 shares through ARKW and 41,189 shares through ARKW.</li>



<li>Bought 77,582 shares of PagerDuty Inc through ARKK and 22,632 through ARKW.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/startups/25/02/43644403/elon-musk-you-cant-stop-the-advent-of-electric-cars-says-ev-success-is-as-inevitable-as-cars-replacing-horses">Elon Musk: &#8216;You Can&#8217;t Stop The Advent Of Electric Cars&#8217;—Says EV Success Is As Inevitable As Cars Replacing Horses</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

AMZN

ARKF

ARKK

ARKW

HOOD

SHOP

Cathie Wood's Massive Tuesday Overhaul: Unloads $28.4M In Palantir, Dumps Robinhood, Swoops Up Tech Giants Shopify, AMD, TSMC And Amazon

"We helped 44 million people across the U.S. and Canada get off their tuchuses," said Lyft CEO David Risher.Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) reported fourth-quarter financial results after the market close on Tuesday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/02/b43640050/lyft-reports-record-q4-and-full-year-2024-results">of the report</a>.



Q4 Earnings: Lyft reported fourth-quarter revenue of $1.6 billion, beating analyst estimates of $1.56 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company reported fourth-quarter net income of $61.7 million, versus a loss of $26.3 million in the prior year&#8217;s quarter. Adjusted EBITDA totaled $112.8 million in the quarter.



Total revenue was up 27% on a year-over-year basis. Gross bookings totaled $4.3 billion in the quarter, up 15% year-over-year. Active riders totaled 24.7 million in the fourth quarter, up 10% year-over-year. Total rides came in above 219 million, up 15% year-over-year.



See Also: <a href="https://www.benzinga.com/25/02/43641265/upstart-q4">Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance</a>



Lyft&#8217;s board authorized a share repurchase program of up to $500 million of the company&#8217;s common stock. The company ended the quarter with $759.32 million in cash and cash equivalents.



&#8220;2024 was a record-smashing year for Lyft. Thanks to our industry-leading service levels, we helped 44 million people across the U.S. and Canada get off their tuchuses,&#8221; said David Risher, CEO of Lyft. 



&#8220;But we&#8217;ve got more to do. Our biggest competition is inertia. 2025 will be the year we show millions of riders and drivers: You&#8217;ve now got a better rideshare choice.&#8221;



Outlook: Lyft expects first-quarter gross bookings of approximately $4.05 billion to $4.2 billion, representing growth of 10% to 14% year-over-year. The company sees first-quarter rides growth in the mid-teens year-over-year.



Lyft executives will further discuss the company&#8217;s quarterly performance on a conference call set for 5 p.m. ET.



Price Action: <a href="http://benzinga.com/quote/lyft">Lyft shares</a> were down 9.31% after hours, trading at $13.01 at the time of publication Tuesday, per <a href="http://pro.benzinga.com">Benzinga Pro.</a>



See Also: 



<ul>
<li><a href="https://www.benzinga.com/tech/25/02/43619522/former-exec-sees-tesla-taking-over-uber-in-ride-hail-with-robotaxis-but-this-fund-manager-believes-elon-musks-ev-giant-wont-have-a-network-as-large">Former Exec Sees Tesla Taking Over Uber In Ride Hail With Robotaxis, But This Fund Manager Believes Elon Musk&#8217;s EV Giant Won&#8217;t Have A Network As Large</a></li>
</ul>



Photo: Shutterstock.

Earnings

Guidance

LYFT

Lyft Q4 Earnings: Revenue Beat, Gross Bookings Up 15%, New Buyback — 'Our Biggest Competition Is Inertia'

Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the key<a href="https://www.benzinga.com/pressreleases/25/02/b43640060/upstart-announces-fourth-quarter-and-full-year-2024-results"> figures from the report.&nbsp;</a>



The Details:&nbsp;Upstart reported quarterly earnings of&nbsp;26&nbsp;cents per share which beat the analyst consensus estimate of&nbsp;losses of 4 cents. Quarterly revenue clocked in at $218.96 million&nbsp;which beat the analyst consensus estimate of&nbsp;$182.18 million&nbsp;and is an increase over sales of&nbsp;$140.31 million&nbsp;from the same period last year.



245,663 loans were originated, totaling $2.1 billion, up 68% year-over-year and up 33% from the prior quarter. Conversion rate was 19.3%, up from 11.6% in the fourth quarter of 2023. 



Read Next: <a href="https://www.benzinga.com/25/02/43474797/amazon-faces-trumps-tariffs">Amazon &#8216;Relatively Well-Positioned&#8217; To Face Trump&#8217;s Tariffs: Analyst</a>&nbsp;



&#8220;In Q4 of 2024, our business grew dramatically across all product categories, delivered Adjusted EBITDA at levels not seen since the first quarter of 2022, and came within a whisker of returning to GAAP profitability,&#8221; said Dave Girouard, CEO of Upstart. 



&#8220;We launched into 2025 with unparalleled energy and optimism for the future of Upstart AI lending and the mission we&#8217;re on together,&#8221; Girouard added. 



Outlook: Upstart expects first-quarter revenue of approximately $200 million, versus the $193.8 million estimate. 



UPST Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Upstart Holdings shares are up 20.4% after hours at $81.07 Tuesday.  



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/02/43535256/palantir-adds-elon-musks-ai-chatbot-grok-to-aip">Palantir Adds Elon Musk&#8217;s AI Chatbot Grok To AIP</a></li>
</ul>



Image: Shutterstock

Fintech

UPST

Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance

President Donald Trump, while hosting a White House meeting with Jordan&#8217;s King Abdullah at the White House Tuesday, reiterated his threat that the U.S. will take control of the Gaza Strip and move the nearly two million Palestinians living there to either Jordan <a href="https://www.benzinga.com/topic/gaza">or Egypt or somewhere</a>.



Asked whether the U.S. would cut billions in financial aid to the two countries if they refused to accept the transfer of Palestinians, Trump sounded confident that Jordan and Egypt would carry out his wishes.



"I don't have to threaten that. I do believe we're above that," Trump said, contradicting his previous suggestion that holding back aid was a possibility.



<h2 class="wp-block-heading">How Will The US Attain Gaza?</h2>



Trump said the US could come to control Gaza without committing any money. 



&#8220;We are not going to buy Gaza&#8230;we are going to take it and cherish it,&#8221; Trump said. &#8221; It will bring peace to the Middle East. It is going to be a tremendous thing and put a lot of people to work.&#8221; 



Speaking in broad strokes, Trump insisted that there has been overwhelming support for his plan to turn Gaza into a resort, though in fact most world leaders <a href="https://www.benzinga.com/news/25/02/43503385/trumps-gaza-plan-for-seaside-resort-faces-global-pushback">criticized his plan</a> when it was first announced.



Trump suggested that the redeveloped area could have new hotels, office buildings and houses and "and we'll make it exciting." 



Trump then waxed on about what a successful real estate magnate he is. "I can tell you about real estate. They're going to be in love with it," he said.



<h2 class="wp-block-heading">King Abdullah, What Say You? </h2>



When pressed by reporters specifically as to whether he agreed to the transfer of Palestinians from Gaza, King Adbullah said that more talks will be held soon with Egypt to discuss the issue. Egypt has also condemned Trump&#8217;s plan. 



The King said that Jordan would need to take into consideration how it could or would be able to take Palestinians into his country. The kingdom already shelters 700,000 Syrian refugees and lacks the oil wealth of its neighbors, making continued U.S. aid crucial. Jordan receives nearly $2 billion in foreign aid to Jordan, which contributes at least 42% to the country&#8217;s total economy



&#8220;This is something that we as Arabs will discuss later and talk about the options,&#8221; King Abdullah said. 



Two Palestinians from Michigan told Benzinga that they thought the King played his cards close to his chest and that deferring to upcoming talks with Egypt &#8220;was a good idea. He [Trump] already walked back the threat of cutting aid to both Egypt and Jordan.&#8221;



Analysts from various outlets agreed that King Abdullah held back in the short press briefing during which Trump did most of the talking. Though ahead of Tuesday's meeting, King Abdullah had reaffirmed his commitment to a two-state solution and the need for a "just and comprehensive peace" in the region. 



In terms of Israel&#8217;s plan to annex the mostly Palestinian West Bank, Trump said, &#8220;That&#8217;s going to work out.&#8221;



Abdullah also announced that Jordan was intending to bring to Jordan 2,000 Palestinian children from Gaza in need of cancer treatment, which Trump said was a beautiful thing.



<h3 class="wp-block-heading">ETFs To Watch</h3>



According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, oil ETFs were in the green at last check Tuesday:



<ul>
<li>ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) is up by 2.65%</li>



<li>United States Oil Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) is up by 1.25%</li>



<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is up by 0.9%</li>



<li>MicroSectorsTM Oil &amp; Gas Exploration &amp; Production 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILU#NYSE">OILU</a>) saw a 2.94% uptick</li>
</ul>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/markets/25/02/43621302/justin-trudeau-slams-unacceptable-us-tariffs-after-trump-imposes-25-levy-on-metal-imports-canadians-will-stand-up-strongly-and-firmly-if-we-need-to">Justin Trudeau Slams &#8216;Unacceptable&#8217; US Tariffs After Trump Imposes 25% Levy On Metal Imports : &#8216;Canadians Will Stand Up Strongly And Firmly If We Need To&#8217;</a></li>
</ul>



Palestinian refugees in Gaza: Shutterstock

Government

Politics

OILU

Trump Says We Will 'Take Gaza' And 'Cherish It' In White House Meeting With Jordan's King Abdullah

Trading in Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) <a href="https://www.benzinga.com/news/offerings/25/02/43593686/whats-going-on-with-snap-stock-monday-2">is quiet Tuesday</a>. The shares have been holding above-important support around $10.40. But there is a good chance the support breaks and the price falls.



The company&#8217;s stock chart shows some characteristics of a classic ‘Head &amp; Shoulders Pattern'. This is why our team of technical analysts has made Snap our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.



Many analysts don't understand the fundamentals and basics of technical analysis. They try to identify patterns on charts without understanding the price action that causes them to form.



It's rare to see a precise or ‘textbook' pattern on a chart. But that isn't important. What is, is that an analyst understands price action and psychology that is occurring.



A Head and Shoulders is a ‘reversal pattern'. This means at has to occur and the end of an uptrend. It shows the bears are taking the leadership from the bulls.



Read Also: <a href="https://www.benzinga.com/news/earnings/25/02/43623639/coca-cola-pops-in-q4-revenue-soars-6-ceo-hails-all-weather-strategy">Coca-Cola Pops In Q4—Revenue Soars 6%, CEO Hails &#8216;All-Weather Strategy&#8217;</a>



One thing that happens when the bears are taking over is that ‘lower highs' form. Markets don't go in straight lines. They go in peaks and valleys. When a peak forms at a lower price level than the previous peak did, traders say it is a lower high.



This means that as time passes, sellers are willing to come into the market at lower levels. This is why the ‘right shoulder' forms at a lower price than the ‘head' does in a Head &amp; Shoulders.



As you can see on the chart below, Snap&#8217;s last two peaks occurred at lower levels than the peak that would be considered the Head did in December. This shows that since then, people who want to sell are getting anxious and are willing to accept less for their shares.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="552" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-1024x552.png" alt="" class="wp-image-777202" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-1024x552.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-768x414.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115.png 1522w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Now the stock is testing support around the $10.40 level. Because sellers have become increasingly aggressive while the buyers have been willing to be patient and hang out around the support level mean there is a good chance it breaks.



Aggressive sellers and patient buyers is typically bearish for a market.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43632327/steel-stocks-breakout-analyst-sees-bullish-setup-for-us-steel-nucor-steel-dynamics">Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel</a></li>
</ul>



Image: Shutterstock

Technicals

SNAP

Stock Of The Day: Does Classic Head & Shoulders Pattern Mean Snap Goes Lower?

Five former treasury secretaries are taking aim at the Department of Government Efficiency and Elon Musk for alleged overreach and abuse of powers by the new <a href="https://www.benzinga.com/news/25/02/43617113/bill-gates-challenges-elon-musk-led-doge-approach-to-shutting-down-usaid-asks-if-it-fits-american-value-system">White House administration.</a>



What Happened: Musk has been <a href="https://www.benzinga.com/25/02/43452103/elon-musk-appointed-as-special-government-employee-amid-doge-department-push-cant-do-anything-without-our-approval-says-trump">put in charge of leading</a> the Department of Government Efficiency by President Donald Trump.



In the role, Musk has promised <a href="https://www.benzinga.com/news/25/02/43426165/elon-musks-daily-4-billion-doge-target-will-lead-to-30-cut-in-federal-spending-says-economist-jason-furman">to find billions</a> to trillions of dollars in savings for U.S. taxpayers. The billionaire has been granted access to many parts of the government, leading to pressure from the public and some members of Congress on alleged overreach.



Five former treasury secretaries believe Musk's actions could bring harm to the country's payments system.



Here are the five former treasury secretaries who co-authored a new<a href="https://www.nytimes.com/2025/02/10/opinion/treasure-secretaries-doge-musk.html"> op-ed</a> in the New York Times and their years of service in the role:



<ul>
<li>Robert Rubin: 1995 to 1999 (Bill Clinton)</li>



<li>Lawrence Summers: 1999 to 2001 (Bill Clinton)</li>



<li>Timothy Geithner: 2009 to 2013 (Barack Obama)</li>



<li>Jacob Lew: 2013 to 2017 (Barack Obama)</li>



<li>Janet Yellen: 2021 to 2025 (Joe Biden)</li>
</ul>



"Our roles were multifaceted. We sought to develop sound policy to advance the president's agenda and represent the economic interests of the United States on the world stage. But in doing that, we recognized that our most fundamental responsibility was the faithful execution of the laws and Constitution of the United States," the former secretaries said.



The five said that they are "fortunate" that there were no unlawful attempts to "undermine the nation's financial commitments" during their time in office.



"Regrettably, recent reporting gives substantial cause for concern that such efforts are underway today."



The former treasury secretaries say the nation's payment system is operated by a small group of nonpartisan civil servants, a position that they allege has been compromised by the political actors of the "so-called Department of Government Efficiency."



The op-ed alleges that the political actors have not gone through the same ethics rules as civil servants and have potential financial conflicts of interest in their roles.



"They lack training and experience to handle private, personal data – like Social Security numbers and bank account information. Their power subjects America's payments system and the highly sensitive data within it to the risk of exposure, potentially to our adversaries."



The former treasury secretaries write that the legislative branch has the "sole authority" to pass laws concerning how and where federal dollars are spent. The Treasury Department is not supposed to make determinations about which promises it will keep of the laws passed by Congress. The op-ed cites quotes from Supreme Court justices who agreed with this logic previously.



The op-ed said the Supreme Court ruled unanimously that the president does not have the power to withhold federal funds that Congress authorized previously when a similar challenge was made by the Richard Nixon administration.



"We take the extraordinary step of writing this piece because we are alarmed about the risks of arbitrary and capricious political control of federal payments, which would be unlawful and corrosive to our democracy."



Among the federal funds that have been authorized by Congress include Social Security checks, Veterans benefit checks, Medicare reimbursements, Federal worker payments and payments for members of the military.



"People often rely on these funds for survival, making any risk of their cutoff or delay existential."



Check This Out:



<ul>
<li><a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent021125">Lawmakers Are Making Huge Investments In 2025. See What They&#8217;re Buying And Selling With Our Easy-to-Use Tool</a></li>
</ul>



Why It's Important: The op-ed stated that current Treasury Secretary Scott Bessent confirmed no federal payment blocks have occurred yet.



"We hope this commitment stands. It is how the framers intended it when they designed a government with checks and balances that gave the executive branch a host of powers, but provided for elected members of Congress, and Congress alone, the authority to levy taxes and spend federal funds," the former treasury secretaries wrote.



In a <a href="https://x.com/LHSummers/status/1888923226585113038">tweet</a>, Summers said the guest essay was made due to being alarmed about the risk of political control of federal payments. The tweet prompted a response from Musk.



"Listen Larry, we need to stop government spending like a drunken sailor on fraud &amp; waste or America is gonna go bankrupt. That does mean a lot of grifters will lose their grift and complain loudly about it. Too bad. Deal with it," Musk <a href="https://x.com/elonmusk/status/1888998928781025534">tweeted</a>.



Summers <a href="https://x.com/LHSummers/status/1889022586366943313">acknowledged </a>that Musk is right to be focused on stopping fraud and grift, but said he hopes the Treasury Department and DOGE comply with the law and offered to work with the billionaire.



On Tuesday morning, Trump posted a message on his Truth Social platform saying billions of dollars of fraud, waste and abuse have already been found while investigating the "incompetently run Government."



"Now certain activists and highly political judges want us to slow down, or stop. Losing this momentum will be very detrimental to finding the TRUTH, which is turning out to be a disaster for those involved in running our Government. Much left to find." Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113985325416343873">said</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43429913/larry-summers-slams-trumps-bizarre-tariffs-on-canada-and-mexico-this-is-a-stop-or-ill-shoot-myself-in-the-foot-kind-of-policy">Larry Summers Slams Trump&#8217;s &#8216;Bizarre&#8217; Tariffs On Canada And Mexico: &#8216;This Is A Stop-Or-I&#8217;ll-Shoot-Myself-In-The-Foot Kind Of Policy&#8217;</a></li>
</ul>



Image created using photos from Shutterstock.

Musk's DOGE Is Attack On Democracy: Yellen, Rubin, 3 More Ex-Treasury Chiefs

U.S. stocks edged marginally lower on Tuesday after Federal Reserve Chair Jerome Powell reiterated that the central bank is in no hurry to cut interest rates during his testimony before the Senate Banking Committee, offering little <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43628752/feds-powell-reiterates-no-hurry-to-cut-interest-rates-as-inflation-remains-somewhat-elevated">support for risk assets.</a>



Investors remained on edge ahead of Wednesday's key inflation report, with the Bureau of Labor Statistics set to release the January Consumer Price Index.



The S&amp;P 500 dipped 0.1%, the Nasdaq 100 declined 0.2%, and small-cap stocks underperformed. Bucking the trend, the Dow Jones Industrial Average posted a marginal 0.1% gain.



Company-wise, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) surged 7%, after Vice President J.D. Vance indicated that artificial intelligence chips will be manufactured in the U.S.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell by over 4%, reaching the lowest levels in eleven weeks, pressured by weak January auto sales in China.



Geopolitical tensions flared as the European Union threatened countermeasures in response to President Donald Trump's announcement of 25% tariffs on aluminum and steel.



Long-dated Treasury yields moved higher, with the 10-year yield rising to 4.54%. Yet, the broader dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – weakened, down 0.2%. 



Gold paused for a breather, remaining flat at $2,900 per ounce. Oil prices inched up by 1%, eyeing the third straight session of gains. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakened 1.3% to $96,000. 



<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Dow Jones</td><td>44,526.92</td><td>0.1%</td></tr><tr><td>S&amp;P 500</td><td>6,064.30</td><td>-0.1%</td></tr><tr><td>Nasdaq 100</td><td>21,714.53</td><td>-0.3%</td></tr><tr><td>Russell 2000</td><td>2,273.29</td><td>-0.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;inched 0.1% down to $604.07.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was 0.1% up to $445.06.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;fell 0.3% to $527.55.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.7% to $225.34.</li>



<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.4%; the&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1.2%.</li>
</ul>



<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>



<ul>
<li>Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) rose 2.4% after KeyBanc raised the stock to Overweight.</li>



<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) surged 5% after Elliott Investment Management urged the company to sell or spin off its midstream business, estimating its value at over $40 billion.</li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) gained 2.8%, and Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 2% amid speculation about a potential AI partnership for iPhone users in China.</li>
</ul>



Stocks reacting to earnings reports include: 



<ul>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>): up 3.8%</li>



<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>): up 7.5%</li>



<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): up 3.7%</li>



<li>DuPont de Nemours Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>): up 7.8%</li>



<li>Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>): down 5.6%</li>



<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>): down 6.5%</li>



<li>Masco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>): up 0.6%</li>



<li>WK Kellogg Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>): down 0.7%</li>



<li>Arvinas Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>): down 6.3%</li>



<li>AutoNation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>): down 3.3%</li>



<li>Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>): down 4.7%</li>



<li>Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>): down 1.8%</li>



<li>Fidelity National Information Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>): down 14.9%</li>



<li>GlobalFoundries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>): up 6.2%</li>



<li>IPG Photonics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>): down 5.9%</li>



<li>LCI Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCII#NYSE">LCII</a>): up 3.5%</li>



<li>Leidos Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>): down 5.4%</li>



<li>MYT Netherlands Parent BV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NYSE">MYTE</a>): up 19.4%</li>



<li>NNN REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNN#NYSE">NNN</a>): up 5.8%</li>



<li>Royalty Pharma Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>): up 1.4%</li>



<li>Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>): down 1.8%</li>



<li>TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>): down 3.5%</li>



<li>USA Compression Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USAC#NYSE">USAC</a>): down 2.9%</li>



<li>Wesco International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCC#NYSE">WCC</a>): up 2.1%</li>
</ul>



Companies reporting after the close include:



<ul>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>



<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</li>



<li>Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>)</li>



<li>Assurant Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>)</li>



<li>Primerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>)</li>



<li>Allison Transmission Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALSN#NYSE">ALSN</a>)</li>



<li>Edwards Lifesciences Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>



<li>Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>)</li>



<li>Brighthouse Financial Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHF#NASDAQ">BHF</a>)</li>



<li>DoorDash Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NYSE">DASH</a>)</li>



<li>W. P. Carey Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPC#NYSE">WPC</a>)</li>



<li>Agree Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>)</li>



<li>Red Rock Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>)</li>



<li>Teradata Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>)</li>
</ul>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43632327/steel-stocks-breakout-analyst-sees-bullish-setup-for-us-steel-nucor-steel-dynamics">Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel</a></li>
</ul>



Photo: Shutterstock

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Macro Economic Events

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Broad U.S. Equity ETFs

Commodities

Econ #s

Economics

Federal Reserve

AAPL

ALSN

ARVN

BABA

CARR

DASH

GILD

INTC

IPGP

LCII

LDOS

MYTE

RPRX

SPGI

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WELL

US Stocks Dip As Powell Stays Cautious, Intel Climbs, Tesla Sinks To 11-Week Low: What's Driving Markets Tuesday?

While <a href="https://www.benzinga.com/topic/tariffs">tariff chatter dominates</a> headlines, JPMorgan analyst Bill Peterson sees bigger implications for steel stocks beyond the political drama. 



His latest analysis highlights key players poised to benefit from higher pricing and shifting trade flows, setting up significant upside potential.



<h2 class="wp-block-heading">The Winners: Nucor, US Steel And Steel Dynamics</h2>



Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) remains Peterson's top pick, rated Overweight. Its product diversification gives it a structural advantage, helping to weather market volatility even as rate and trade policy uncertainty clouds the steel outlook.



The company is prioritizing profitability over volume, a strategy Peterson believes warrants a multiple expansion for both Nucor and the broader sector.



U.S. Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) also holds an Overweight rating. The key catalyst? Peterson views the stalled NSC deal as unlikely to go through, leaving U.S. Steel to stand alone with strong valuation support.



Easing capex requirements and a likely free cash flow inflection in 2025 could pave the way for share buybacks, while new growth projects add further upside.



Read Also: <a href="https://www.benzinga.com/25/02/43606220/united-states-steel-shares-are-up-today-whats-going-on">United States Steel Shares Are Up Today: What&#8217;s Going On?</a>



Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) lands a Neutral rating. The company's aluminum rolling mill (ADI) project could create long-term value, but Peterson sees a longer runway to meaningful impact.



Near-term, risks include potential pricing pressure on its Steel Fabrication segment and UBC spreads affecting ADI margins.



<h2 class="wp-block-heading">How Tariffs Fit In</h2>



The latest round of Section 232 tariffs—signed into action Monday evening—has already fueled a rally in steel stocks. While the broader market saw modest gains, steel stocks jumped 5% to 17% in anticipation of higher pricing. The HRC forward curve is already up ~10% since pre-election levels, and industry participants at the Tampa Steel Conference see a potential price range of $850-$900 per ton, with peaks near $1,000 per ton.



The biggest winners in a sustained high-price environment? 



Peterson sees stocks with high spot exposure—particularly U.S. Steel and Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)—benefiting first. However, Nucor remains his long-term favorite, given its earnings stability in both strong and weak pricing environments.



<h2 class="wp-block-heading">Looking Ahead</h2>



The near-term setup is clear: higher steel prices, a favorable demand-supply dynamic, and strategic positioning give steel stocks room to run.



But the longer-term picture is less certain, with potential shifts in exemptions and demand-side risks looming. For now, though, Peterson's bullish stance suggests steel stocks remain well-positioned.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43603930/tech-stocks-surge-steelmakers-jump-on-trumps-25-tariffs-copper-hits-9-month-highs-whats-driving-markets-monday">Tech Stocks Surge, Steelmakers Jump On Trump&#8217;s 25% Tariffs, Copper Hits 9-Month Highs: What&#8217;s Driving Markets Monday?</a></li>
</ul>



Photo: Vladimir Mulder/Shutterstock.com.

Analyst Color

Long Ideas

Analyst Ratings

Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel

Editor&#8217;s note: This story has been updated with additional details. 



Federal Reserve Chair Jerome Powell reiterated on Tuesday that policymakers are in no "hurry" to adjust interest rates, citing lingering inflation pressures despite significant progress toward the<a href="https://www.benzinga.com/news/econ-s"> Fed's 2% inflation goal.</a>



Speaking before the Senate Banking Committee in Washington, Powell described the economic landscape as one where "the economy is strong overall." with a labor market that has cooled from its overheated state but remains resilient.



Over the past four months, payroll job gains averaged 189,000 per month, while the unemployment rate held steady at 4% in January. Powell indicated that "the labor market is not a source of significant inflationary pressures."



On inflation, Powell highlighted a notable decline over the past two years but stressed that "inflation remains somewhat elevated."



The latest Personal Consumption Expenditures price index showed a 2.6% year-over-year increase as of December, with core PCE rising 2.8%, excluding volatile food and energy costs. 



<h3 class="wp-block-heading">Powell Stresses Caution In Interest Rate Policy</h3>



Since September, the Federal Open Market Committee has lowered the policy rate by a full percentage point from its peak. 



Powell described this shift as "appropriate in light of the progress on inflation and the cooling in the labor market."



Despite these moves, Powell reiterated that "we do not need to be in a hurry to adjust our policy stance." 



He stated that reducing interest rates &#8220;too fast or too much&#8221; could derail progress on inflation, while moving too slowly or too little "could unduly weaken economic activity and employment."



Going forward, the Fed will continue to remain data dependent, before making further policy adjustments.



<h3 class="wp-block-heading">Powell Pushes Back Recession Concerns, Refrains From Tariff Judgement</h3>



During the Q&amp;A session, Powell pushed back against recession risks and reiterated the broader strength of the economy. 



Sen. John Kennedy (R-LA) questioned the Fed's influence over long-term bond yields, to which Powell responded, "We have some influence, but mostly not." 



The Fed Chair indicated that long-term rates are driven by future short-term rate expectations, inflation risks, and the budget deficit—factors beyond the Fed's direct control. 



When asked if a president could remove a Federal Reserve Board member, Powell said, "It's not allowed under the law."



Sen. Bill Hagerty (R-TN) asked Powell if the neutral rate — the point where interest rates neither boost nor slow the economy — has risen.



&#8220;The neutral rate will have risen meaningfully," Powell said.



The chairman highlighted that concerns over labor market weakness and inflation have faded. Powell said that many of his colleagues also believe the neutral rate has moved higher, a shift from its historically low pre-pandemic levels.



On trade policy, Sen. Jack Reed (D-RI) referenced Powell's 2018 statement that "countries that have remained open to trade, that have not erected barriers, including tariffs, have grown faster and achieved higher incomes." 



Powell stood by that view but refrained from commenting on specific trade policies, including President Donald Trump's tariffs on China, Canada, and Mexico. 



Read Next:



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<li><a href="https://www.benzinga.com/25/02/43627524/economists-betting-markets-predict-benign-january-inflation-what-could-go-wrong-this-time">Economists, Betting Markets Predict Benign January Inflation: What Could Go Wrong This Time?</a></li>
</ul>

Fed's Powell Reiterates No 'Hurry' To Cut Interest Rates As Inflation Remains 'Somewhat Elevated' (UPDATED)

Ride-hailing company Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) could highlight more progress on autonomous vehicles when the company reports fourth-quarter financial results<a href="https://www.benzinga.com/earnings"> after market close Tuesday.</a>



Earnings Estimates: Analysts expect Lyft to report fourth-quarter revenue of $1.56 billion. That&#8217;s up from $1.23 billion in last year's fourth quarter, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent021125&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>



The company has beaten analyst revenue estimates in eight straight quarters and nine of the last 10 quarters overall.



Analysts expect Lyft to report fourth-quarter earnings per share of 22 cents, up from 18 cents in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in seven straight quarters and nine of the last 10 quarters overall.



Read Also: <a href="https://www.benzinga.com/25/01/42859391/uber-and-lyft-adapt-robotaxi-strategy-to-compete-in-tesla-and-waymos-market">Uber and Lyft Adapt Robotaxi Strategy to Compete in Tesla and Waymo&#8217;s Space</a>



What Analysts Are Saying: Bank of America analyst Michael McGovern<a href="https://www.benzinga.com/trading-ideas/movers/25/01/43314361/lyft-faces-growing-competition-bank-of-america-analyst-warns"> reiterated a Buy rating</a> on Lyft. He also lowered the price target from $21 to $19 in a recent note.



The analyst highlighted the appointment of Sean Duffy as Transportation Secretary, Waymo's testing in Los Angeles and Uber's new price lock feature as three notable catalysts for the company.



McGovern said Waymo's testing could be viewed as a threat to Lyft with autonomous ride services competing for customers.



Uber's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) $2.99 price lock pass allowing customers to secure pricing ahead of time for a one-hour window daily could increase competition with Lyft if the service is rolled out fully. Lyft has a similar price lock feature that has been successful.  



While those items are potential negatives for Lyft, Duffy&#8217;s confirmation oas Transportation Secretary could be a positive for the company. Duffy has been a proponent of federal regulation for autonomous vehicles, instead of leaving decisions up to states.



Here are other recent<a href="https://www.benzinga.com/quote/LYFT/analyst-ratings"> analyst ratings for Lyft</a> and their price targets:



<ul>
<li>UBS: Maintained Neutral rating, lowered price target from $18 to $16</li>



<li>Bank of America: Maintained Buy rating, lowered price target from $21 to $19</li>



<li>Wells Fargo: Maintained Equal-Weight rating, lowered price target from $17 to $14</li>



<li>Wedbush: Maintained Neutral rating, lowered price target from $20 to $18</li>



<li>Benchmark: Upgraded from Hold to Buy, with $20 price target</li>
</ul>



Key Items to Watch: Lyft's earnings report comes after the recent news the company could launch robotaxis as soon as 2026. Lyft <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43596967/lyft-stock-is-moving-higher-monday-heres-why">is collaborating with</a> Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) on launching a fully autonomous robotaxi service to its app.



The vehicles are expected to be tested in Dallas soon with more markets coming in the following months.



Lyft will likely share more details on its robotaxis. It may also face questions from analysts on the upcoming launch, timetable and various partnerships.



The ride-share company also recently announced <a href="https://www.benzinga.com/25/02/43536368/whats-going-on-with-ride-hailing-company-lyfts-stocks-today">a strategic alliance </a>with AI company Anthropic to create AI-powered solutions to help customers.



Lyft is using Anthropic's AI model Claude for its customer service operations already and has witnessed an 87% cut in the average resolution time.



"Lyft is using Claude to both reimagine the future of ridesharing, and at the same time deliver tangible benefits to their community today," Anthropic Vice President of Product Management Michael Gerstenhaber said.



There could be high expectations for Lyft's fourth quarter after the company's most recent <a href="https://www.benzinga.com/news/earnings/24/11/41789162/lyft-stock-drives-higher-after-better-than-expected-q3-results">third quarter </a>included record active riders, record riders and revenue and earnings per share beat analyst estimates.



The company called the results "one of the strongest quarters in Lyft history."



Lyft's earnings report comes less than a week after Uber reported <a href="https://www.benzinga.com/news/earnings/25/02/43495476/uber-q4-earnings-revenue-beat-growth-in-rides-delivery-and-autonomous-tech-ceo-calls-it-strongest-quarter">fourth-quarter financial results</a>. Uber beat analyst estimates for revenue and earnings per share. The company saw double-digit growth for gross bookings, deliveries, trips and monthly active platform consumers.



Uber's strong quarterly report could put increased pressure on Lyft to beat estimates and show double-digit growth in several areas along with positive commentary on robotaxis.



Price Action: Lyft stock is up 1.2% to $15.30 on Tuesday versus a 52-week range of $8.92 to $20.82. Lyft stock is up 10.8% year-to-date and up 21.9% over the past year.



Uber stock trades at $78.30 versus a 52-week trading range of $54.84 to $87.00. Uber stock is up 24.5% year-to-date and up 13.8% over the past year.



Read Next: 



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<li><a href="https://www.benzinga.com/24/11/42015996/tesla-to-partner-with-lyft-uber-analyst-says-rising-conviction-for-partnership-in-future">Tesla To Partner With Lyft, Uber? Analyst Has &#8216;Rising Conviction&#8217; For Future Partnership</a></li>
</ul>



Image: Shutterstock

Previews

MBLY

UBER

Lyft Q4 Earnings Preview: Streak Of Revenue, EPS Beats On The Line After Rival Uber's Strong Fourth Quarter

Winter weather is moving into nearly every part of the country this week and threatens to bring several different weather hazards depending on location. An atmospheric river is taking aim at fire-scarred areas of Southern California, while the MidAtlantic and Northeast regions brace for <a href="https://www.benzinga.com/25/02/43544471/winter-storm">more snow and ice.&nbsp;</a>



MidAtlantic Snow: The first major weather event of this busy week will strike the MidAtlantic region on Tuesday with snow and ice spreading through the Washington D.C., Philadelphia and New York City metro areas.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Super Micro Computer Q2 Earnings Preview: Accounting Updates, Nasdaq Deadline On Watch&nbsp;</a>



AccuWeather meteorologists warn that the <a href="https://www.accuweather.com/en/winter-weather/early-week-winter-storm-to-dump-snow-from-dc-to-philly-nyc/1743253">storm</a> will trigger plowing operations and deicing activity at airports in an area covering approximately 200,000 square miles. 



Travelers should prepare for delays and disruptions. Two of the largest airlines serving the Washington D.C. and Philadelphia airports are American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>).&nbsp;



Northeast Snow: A second snow and ice storm will follow quickly on the heels of the MidAtlantic snow, arriving on Wednesday night with snow forecast for New England and rain further south. Snow will change to sleet and freezing rain during the day on Thursday and come to an end on Thursday night. 



Grocery and home improvement stores may see increased traffic as people stock up on food and essentials before the storm. Retailers like Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) could see a boost in revenue from storm-related sales.&nbsp;



California Rain: An atmospheric river is lining up and will hit California on Wednesday, with the worst of the weather expected on Thursday. The storm is expected to be the strongest in a year, according to <a href="https://www.latimes.com/california/story/2025-02-11/strongest-southern-california-storm-in-a-year-what-to-know">the</a> Los Angeles Times and will bring heavy rains to the entire state, including fire-damaged areas of Los Angeles. 



The National Weather Service warned of "potentially life-threatening and damaging flooding and debris flows," which are a type of landslide that may affect the recently burned areas.&nbsp;



Residents and insurance companies in Southern California, like Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), may take another hit if further damage is caused by landslides and debris flows in the fire-ravaged areas.&nbsp;



Read Next:



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</ul>



Image: Shutterstock

Travel

Insurance

General

February Winter Weather Set To Bring Northeast Snow, Soak California Fire Zones

Canadian Prime Minister Justin Trudeau on Tuesday highlighted the adverse effects of the U.S. steel and aluminum tariffs and warned of a strong response if required.



What Happened: Trudeau criticized the recent tariffs calling them &#8220;Unacceptable&#8221; and said &#8220;Canadians will stand up strongly and firmly if we need to,&#8221; reported Reuters.



On Monday, U.S. President Donald Trump signed orders to increase tariffs on <a href="https://www.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">steel and aluminum imports to 25%</a> without exceptions. This decision, effective Mar 4, intended to boost the struggling industry, could escalate into a wider trade conflict.



SEE ALSO: <a href="https://www.benzinga.com/25/02/43616261/trumps-punitive-tariffs-could-lead-to-us-job-losses-warns-former-ambassadorwere-in-for-a-bit-of-bad-news-in-the-near-term">Trump&#8217;s &#8216;Punitive&#8217; Tariffs Could Lead To US Job Losses, Warns Former Envoy: &#8216;We&#8217;re In For A Bit Of Bad News In The Near Term&#8217;</a>



Why It Matters: This development comes amid escalating tensions between the two nations. Earlier this month, Trudeau expressed concerns over Trump&#8217;s threat to annex Canada. He suggested that Trump&#8217;s interest in making <a href="https://www.benzinga.com/25/02/43582659/trump-says-canada-much-better-off-being-the-51st-state-the-border-with-us-is-just-a-line">Canada the &#8220;51st state&#8221;</a> was driven by a desire to access the country&#8217;s critical minerals. According to&nbsp;the American Iron and Steel Institute, approximately 80% of U.S. primary aluminum imports were from Canada. 



President of the Canadian Labour Congress, Bea Bruske, recalled Trump's previous steel and aluminum tariffs and stated that it had a "devastating impact" on the workers in the country. "Thousands of workers faced layoffs and uncertainty, and the effects rippled across manufacturing, construction and supply chains," stated Bruske.



Minister of Innovation, Science and Industry of Canada, François-Philippe Champagne, called the U.S. tariffs &#8216;totally unjustified&#8217; and stated, &#8220;We are consulting with our international partners as we examine the details. Our response will be clear and calibrated.&#8221;



Trump&#8217;s tariffs on steel and aluminum are set to ripple across key U.S. industries, driving up costs for manufacturers and consumers alike. The automotive sector, including Ford (NYSE F), General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), faces higher production expenses, while aerospace giants like Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) may see increased material costs. The construction and infrastructure industry is also expected to feel the impact. According to <a href="https://www.barrons.com/articles/trump-steel-tariffs-car-prices-707e1af4">Barron&#8217;s</a>, the tariffs could add as much as $2,000 to the price of a new car.



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<li>READ MORE: <a href="https://www.benzinga.com/news/25/02/43543459/i-love-canada-more-than-i-love-spotify-canadians-are-canceling-netflix-amazon-disney-and-spotify-en-masse-despite-the-tariff-pause">&#8216;I Love Canada More Than I Love Spotify&#8217;—Canadians Are Canceling Netflix, Amazon, Disney+, And Spotify En Masse, Despite The Tariff Pause</a></li>
</ul>



Image via Shutterstock



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

Justin Trudeau Slams 'Unacceptable' US Tariffs After Trump Imposes 25% Levy On Metal Imports : 'Canadians Will Stand Up Strongly And Firmly If We Need To'

Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher</a> following better-than-expected fourth-quarter earnings results.



The company reported fourth-quarter sales growth of 6% year-on-year to $11.5 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43618735/coca-cola-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">consensus estimate of $10.677 billion</a>.



Revenue performance included a 5% climb in concentrate sales and a 9% growth in price/mix. Unit case volume grew 2% in the quarter. Organic revenues increased 14%.



Coca-Cola&#8217;s organic revenue in Europe, Middle East and Africa jumped 17% in the fourth quarter, while in North America, it increased 15%.



Gross profit rose 12% to $6.93 billion with a <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000021344/000002134425000005/ko-20250211.htm" rel="noreferrer noopener">profit margin of 60%</a>. The operating margin expanded 250 basis points to 23.5%, while the comparable operating margin gained 90 basis points to 24%.&nbsp;



Operating income for the quarter increased 19.2% to $2.7 billion. Adjusted EPS of $0.55<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> beat the consensus</a> estimate of $0.52.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/management/25/02/43617258/southwest-airlines-taps-tom-doxey-as-cfo-details" rel="noreferrer noopener">Southwest Airlines Taps Tom Doxey As CFO: Details</a>



Operating cash flow generated for twelve months was $6.8 billion, a 41% decrease from the prior year. Free cash flow totaled $4.7 billion. KO held $14.5 billion in cash and equivalents as of December&nbsp;end.



In 2024, the company issued $0.7 billion of shares in connection with the exercise of stock options by employees and purchased $1.8 billion of shares.



&#8220;Our all-weather strategy is working, and we continue to demonstrate our ability to lead through dynamic external environments,&#8221; said Chairman and CEO James Quincey.



Outlook: Coca-Cola expects FY25 organic revenue of 5% &#8211; 6%. KO sees comparable currency neutral EPS growth of 8% – 10%. The company anticipates comparable EPS growth of 2% – 3%.



Coca-Cola sees free cash flow excluding the fairlife contingent consideration payment (non-GAAP) of approximately $9.5 billion.



For first-quarter, comparable net revenues are expected to include a 3% to 4% currency headwind.



Price Action: KO shares are trading higher by 4.71% at $67.52 in premarket at the last check Tuesday.



Read Next:



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</ul>



Image via Shutterstock.

Coca-Cola Pops In Q4—Revenue Soars 6%, CEO Hails 'All-Weather Strategy'

An investor group led by Elon Musk has proposed a <a href="https://www.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company">$97.4 billion bid to take</a> control of OpenAI, a move that OpenAI&#8217;s CEO, Sam Altman, thinks may be an attempt to &#8220;slow down a competitor.&#8221;



What Happened: Altman cast doubt on Musk&#8217;s true intentions behind the bid. He dismissed the notion that Musk was genuinely interested in acquiring OpenAI, stating, &#8220;Not particularly&#8221;, in an interview with&nbsp;<a href="https://www.cnbc.com/2025/02/11/musks-97point4-billion-for-openai-aims-to-slow-down-a-competitor-sam-altman-says.html">CNBC</a>&nbsp;on Tuesday



Altman believes that Musk&#8217;s bid could be a strategic maneuver to hinder a competitor and gain an advantage with his own AI company, xAI. The $97.4 billion offer, confirmed by CNBC on Monday,&nbsp;is for the nonprofit that&nbsp;supervises the artificial intelligence startup responsible for ChatGPT.



Musk&#8217;s legal representative, Marc Toberoff, confirmed that the offer was submitted on Monday, adding, &#8220;It&#8217;s time for OpenAI to return to the open-source, safety-focused force for good it once was.&#8221;



SEE ALSO: <a href="https://www.benzinga.com/markets/asia/25/02/43613949/tesla-supplier-catl-eyes-5-billion-hong-kong-listing-amid-us-sanctions-market-revival-report">Tesla Supplier CATL Eyes $5 Billion Hong Kong Listing Amid US Sanctions, Market Revival: Report</a>



Why It Matters: Elon Musk, who co-founded OpenAI, had previously departed from the company in 2018 over disagreements about its direction. His current bid comes as OpenAI transitions to a for-profit structure, a move Musk has legally challenged.



Founder of Telluride Legal Strategies, Rob Rosenberg indicated that Musk&#8217;s actions might create challenges for OpenAI as it seeks to shift away from its non-profit status, as per Bloomberg. Musk and Altman have been engaged in a prolonged dispute. In August, Musk also filed a lawsuit against OpenAI calling its partnership with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) a &#8216;monopoly&#8217; aiming to eliminate competitors. 



OpenAI&#8217;s AI-powered chatbot, ChatGPT, has recently&nbsp;<a href="https://www.benzinga.com/25/02/43613038/openais-chatgpt-surpasses-elon-musks-x-and-yahoo-to-rank-sixth-most-visited-website-globally-sam-altman-says-still-a-long-way-to-go-to-run-down-google">surpassed</a>&nbsp;Musk&#8217;s X in web traffic, ranking as the sixth most-visited website globally in January 2025. This could potentially be a factor in Musk&#8217;s bid for control of the company. 



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<li>READ MORE: <a href="https://www.benzinga.com/markets/equities/25/02/43591228/sam-altmans-openai-set-to-finalize-in-house-ai-chip-reducing-dependence-on-nvidia-report">Sam Altman&#8217;s OpenAI Set To Finalize In-House AI Chip, Reducing Dependence On Nvidia: Report</a></li>
</ul>



Image via Shutterstock



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

Tech

MSFT

Sam Altman Says Elon Musk's $97B Bid For OpenAI Is A Move To 'Slow Down A Competitor'

BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) shares are trading lower after <a href="https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2024-results.pdf" target="_blank" rel="noreferrer noopener">the </a>company reported fourth-quarter results.



Sales and other operating revenues came in at&nbsp;$45.752 billion, missing the consensus of&nbsp;$47.511 billion.



Hydrocarbon production was 850 mboe/d (-5.4% Y/Y), with underlying production declining&nbsp;2.7% Y/Y mainly due to base decline in Egypt.



The Renewables pipeline stood at 60.6GW (bp net), including a 38.7GW bp net share from Lightsource bp&#8217;s (LSbp&#8217;s) pipeline in the quarter.&nbsp;



Adjusted EBITDA declined to&nbsp;$8.41 billion from&nbsp;$10.57 billion a year ago.&nbsp;Underlying RC profit per American Depositary Share (ADS) came in at&nbsp;$0.44,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$0.47.&nbsp;</a>



Operating cash flow was&nbsp;$7.43 billion, compared to&nbsp;$9.38 billion in the prior-year quarter.&nbsp;



Capital expenditure was&nbsp;$3.73 billion versus&nbsp;$4.71 billion a year ago.&nbsp;Net debt rose to&nbsp;$23.0 billion from&nbsp;$20.9 billion a year ago.



Chief executive officer Murray Auchincloss said, &#8220;We have been reshaping our portfolio &#8211; sanctioning new major projects, and focusing our low-carbon investment &#8211; and we have made strong progress in reducing costs. Building on the actions taken in the last 12 months, we now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns.&#8221;



Kate Thomson, Chief Financial Officer, stated, &#8220;During the year, we introduced our target to deliver at least $2 billion of savings(a) by the end of 2026 relative to 2023 and are making strong progress, achieving $0.8 billion of structural cost reduction. We raised the dividend per ordinary share by 10% and delivered $7 billion of share buybacks.&#8221;



Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43608991/bp-set-to-report-q4-earnings-as-elliot-management-builds-stake" rel="noreferrer noopener">BP Set To Report Q4 Earnings As Elliot Management Builds Stake: Declining Margins, Revenues In The Spotlight</a>



Dividend: BP disclosed an interim dividend of 8.000 cents per ordinary share, payable on March 28, 2025. Holders of ADSs are expected to receive&nbsp;$0.48 per ADS.



Repurchase: The company completed previously announced&nbsp;$1.75 billion in share buybacks during the quarter.



Furthermore, BP plans to conduct a&nbsp;$1.75 billion&nbsp;share buyback before its&nbsp;first-quarter&nbsp;earnings release.



Elliott Management, a U.S.-based activist hedge fund managing approximately $70 billion in assets, reportedly acquired a stake in BP. The fund advocates for substantial changes at the British oil <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/02/43591241/whats-going-on-with-oil-giant-bp-stock-today" rel="noreferrer noopener">company to boost its performance</a>.



First-Quarter FY25&nbsp;Outlook: BP anticipates upstream production to be lower than the&nbsp;fourth quarter&nbsp;of 2024.



In its customer business, BP projects seasonally lower volumes sequentially, with fuel margins likely remaining sensitive to supply cost fluctuations.



In the products segment, BP expects refining margins to stay low in the&nbsp;first quarter and expects a lower level of refinery turnaround activity compared to the fourth quarter of 2024.



FY25&nbsp;Guidance: BP&nbsp;expects reported upstream production to be lower and underlying upstream production to be&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">slightly lower than the prior year</a>.&nbsp;



It anticipates divestments and other proceeds to be around $3 billion&nbsp;for the year, with weighted towards the second half.



BP anticipates approximately $3 billion in divestment and other proceeds in 2025, primarily in the second half.



With $22 billion realized since the second quarter of 2020, the company remains on track to achieve its $25 billion target for the 2020-2025 period.



The company sees Gulf of America settlement payments for the year to be about $1.2 billion&nbsp;pre-tax, including&nbsp;$1.1 billion&nbsp;pre-tax to be paid during the&nbsp;second quarter.



Yesterday, BP inked a contract with Oil and Natural Gas Corporation Limited (ONGC), as per which bp will serve as the Technical Services Provider (<a target="_blank" href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/ongc-and-bp-sign-contract-to-enhance-production-from-mumbai-high.html" rel="noreferrer noopener">TSP</a>) for the Mumbai High field, India&#8217;s largest and most prolific offshore oil field.



Investors can gain exposure to the stock via&nbsp;Texas Capital Texas Oil Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>) and Abacus FCF Real Assets Leaders ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ABLD#BATS">ABLD</a>).



Price Action: BP shares are trading lower by 0.67% at $34.19 premarket at the last check Tuesday.



Read Next:



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<li><a href="https://www.benzinga.com/markets/equities/25/02/43614105/activist-investor-elliott-builds-25-billion-stake-in-phillips-66-pressures-for-midstream-spinoff-report" target="_blank" rel="noreferrer noopener">Activist Investor Elliott Builds $2.5 Billion Stake In Phillips 66, Pressures For Midstream Spinoff: Report</a></li>
</ul>



Photo: Jon Lyall via Shutterstock.

ABLD

OILT

BP Q4 Results: Lower Revenue, Rising Debt, CEO Pledges Fundamental Strategy Shift And More

U.S. stock futures fell on Tuesday after ending higher on Monday amid a revenue miss from McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and weak ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) earnings. All four benchmark indices were trading lower.



President Donald Trump imposed the promised 25% tariff on steel and aluminum imports on Monday, including from Canada and Mexico, targeting metal products to protect U.S. industries and counteract efforts by countries like Russia and China to bypass existing duties.



The 10-year Treasury yield stood at 4.52%, while the two-year yield was at 4.28%. According <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> the CME Group's FedWatch tool, there is a 93.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.52%</td></tr><tr><td>S&amp;P 500</td><td>-0.39%</td></tr><tr><td>Dow Jones</td><td>-0.25%</td></tr><tr><td>Russell 2000</td><td>-0.53%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both experienced negative premarket trading on Tuesday. SPY fell 0.35% to $602.76, and QQQ declined 0.44% to $526.93, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Chipmakers led a Nasdaq <a href="https://www.benzinga.com/news/earnings/25/02/43615981/nasdaq-gains-1-as-nvidia-broadcom-rise-investor-sentiment-improves-fear-greed-index-moves-to-neutral-zone">surge</a> of nearly 1% on Monday, with 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 Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) all posting significant gains.



This tech sector strength, along with energy and utilities gains, propelled the S&amp;P 500 and the Dow Jones. Despite last week&#8217;s losses driven by inflation and tariff concerns, Monday saw investors shrug off those worries.



Financials and utilities were the only S&amp;P 500 sectors to close lower. Inflation expectations remained steady at 3% for January.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.98%</td><td>19,714.27</td></tr><tr><td>S&amp;P 500</td><td>0.67%</td><td>6,066.44</td></tr><tr><td>Dow Jones</td><td>0.38%</td><td>44,470.41</td></tr><tr><td>Russell 2000</td><td>0.36%</td><td>2,287.94</td></tr></tbody></table></figure>



Insights From Analysts



Wharton finance professor Jeremy Siegel, in a podcast, forecasted that the stock market's response would be entirely contingent on the duration of the tariffs. &#8220;As long as these tariffs are in effect and are not lowered, it&#8217;s very hard to see the stock market going up," stated Siegel.



&#8220;Trump's tariffs are now higher on the mind of investors than most of the economic data and will likely be the most important mover of stocks until the last set of data before the March meeting,&#8221; he added in his weekly commentary note.



The chief market strategist at Carson Research, Ryan Detrick highlighted a data point comparing the S&amp;P 500&#8217;s December lows to the next year&#8217;s first quarter low.



According to this data, if the S&amp;P 500 index falls below its previous year&#8217;s December low in the first quarter of a new year, it is likely that the full-year return could be negative.



The index fell by 0.2% on average for the full year when the first quarter&#8217;s lowest level has fallen below December&#8217;s lowest level.



<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">One big worry I have is the S&amp;P 500 in Q1 violated it&#39;s December closing low. The returns for the full yr are much worse when this happens vs doesn&#39;t happen. Years like '73, '74, tech bubble, '08, and '22 all made this infamous list. Now 2025. <a href="https://t.co/nEtUjpGapw">pic.twitter.com/nEtUjpGapw</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1889067316417073271?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, on the economic front, former Treasury Secretary Larry Summers warned the proposed tariffs would lead to "fewer American jobs, more American inflation, and probably a bigger trade deficit," questioning potential national security benefits from tariffing allies.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry that Trump&#39;s threatened steel and aluminum tariffs have now been implemented. This will mean fewer American jobs, more American inflation and because of damage to us exports probably a bigger trade deficit. I do not see any national security gain from tariffing Canada.&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1889114367645344099?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Tuesday:



<ul>
<li>On Tuesday, January&#8217;s NFIB optimism index data will be released at 6:00 a.m., ET.</li>
</ul>



<ul>
<li>Cleveland Fed President Beth Hammack will speak at 8:50 a.m., ET.</li>
</ul>



<ul>
<li>Fed Chairman Jerome Powell&#8217;s testimony to Congress begins at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>San Francisco Fed President Mary C Daly will speak at 10:20 a.m., and New York Fed President John C Williams and Fed Governor Michelle Bowman will speak at 3:30 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) was up 0.01% in premarket on Tuesday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 52 cents per share on revenue of $10.68 billion.</li>
</ul>



<ul>
<li>Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) fell 0.16% as Wall Street expects it to report quarterly earnings of $2.38 per share on revenue of $6.38 billion before the opening bell.</li>
</ul>



<ul>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) gained 3.42% ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 43 cents per share on revenue of $2.73 billion.</li>
</ul>



<ul>
<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) rose 0.05% as Wall Street expects it to report quarterly earnings of $1.70 per share on revenue of $7.14 billion after the closing bell.</li>
</ul>



<ul>
<li>Harmonic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) was down 25.63% after it reported better-than-expected earnings for its fourth quarter but issued weak guidance for the first quarter.</li>
</ul>



<ul>
<li>Fluence Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) was down 35.42% after it reported first-quarter revenue of $186.8 million, representing a 49% decrease year-over-year. Net loss increased to $57.0 million from $25.6 million year-over-year.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.27% to hover around $73.24 per barrel.



The gold spot index was down by 0.15% to $2,903.52 per ounce. The Dollar Index was down 0.01% at 108.309 level.



Asian markets were mixed on Monday. Australia's ASX 200, South Korea's Kospi, and Japan's Nikkei 225 index advanced. Whereas, China's CSI 300, and Hong Kong's Hang Seng index fell. European markets were mostly higher in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43616409/warren-buffetts-berkshire-hathaway-loads-up-on-sirius-xm-amid-price-target-cuts-company-pays-dividend-but-better-off-in-t-bills-says-expert">Warren Buffett&#8217;s Berkshire Hathaway Loads Up On Sirius XM Amid Price Target Cuts: Company Pays Dividend &#8216;But Better Off In T-Bills,&#8217; Says Expert</a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

AVGO

FLNC

HLIT

NVDA

US Stock To Likely Open Lower Amid Tariff Tensions: Expert Hints Sans Lower Tariffs It's Hard To See The 'Market Going Up'

Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is trading 3.8% lower in pre-market on Tuesday ahead of its second-quarter earnings call scheduled today after the market close.



What Happened: The company&#8217;s management is likely to provide updates on the delayed filing of its annual report for the fiscal year ending June 30, 2024, during the earnings call today. The shares of SMCI surged 17.5% on Monday, a day before its earnings release.



The Nasdaq Exchange has permitted SMCI to submit its 10-K filing until Feb. 25. The San Jose, California-based artificial intelligence company risks delisting if it misses the deadline.



In July, Ernst &amp; Young (EY), then serving as Super Micro&#8217;s auditor, expressed concerns about the company&#8217;s governance and internal controls over financial reporting, prompting the board to establish a special committee. In December, Super Micro issued a statement regarding the special committee being unable to discover material facts backing EY&#8217;s statements, adding that there were no significant concerns regarding the integrity of Super Micro&#8217;s management. Previously, SMCI CEO Charles Liang expressed confidence that the technology company&#8217;s stock will not be delisted from the Nasdaq.



SEE ALSO: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Super Micro Computer Q2 Earnings Preview: Accounting Updates, Nasdaq Deadline On Watch</a>



Why It Matters: <a href="https://www.benzinga.com/news/earnings/25/02/43600652/super-micro-computer-q2-earnings-preview-accounting-updates-nasdaq-deadline-on-watch">Wall Street is keenly observing</a> SMCI&#8217;s ongoing accounting issues. Investors are also eager for communication from the company regarding improvements to its financial controls and transparency. This is crucial to reassure shareholders about its governance practices, especially in light of the potential delisting risk.



In a note, Wedbush analyst, Matt Bryson, stated that they believe Supermicro may successfully restate its financials or could also seek a 180-day extension. However, they expressed uncertainty about Super Micro Computer&#8217;s near-term performance, pointing out that competitors such as HP Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) have secured contracts in the artificial intelligence server market.



Bryson has expressed reservations about the company&#8217;s current stock price, citing &#8220;substantial unknowns&#8221; that could negatively impact the share price in the future.



However, Loop Capital Markets analyst&nbsp;Ananda Baruah&nbsp;is upbeat on SMCI and considers it an "important company in an important space" poised to benefit from growth factors like overcoming SEC filing delays and maintaining strong fundamentals.



SMCI stock has plunged more than 44% over the past year.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43591520/dell-vs-hp-ai-server-jpmorgan-pick">Wall Street&#8217;s AI Server Darling? JPMorgan Says It&#8217;s Still Dell</a></li>
</ul>



Image via Shutterstock



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

SMCI

SMCI Stock Falls Nearly 4% In Tuesday Pre-Market As Investors Await An Update On Delayed Filing

While gold continues to climb toward its historic milestone of $3,000 per ounce, propelled by the escalating tariff wars, gold miners have <a target="_blank" href="https://www.benzinga.com/25/02/43590446/gold-prices-near-3000-outpacing-us-equities-as-it-hits-a-fresh-record-high-amid-donald-trumps-trade-war-led-market-uncertainty" rel="noreferrer noopener">lagged this success</a>. Rising labor costs, foreign government pressures, and inflation are squeezing profitability, raising questions on whether they can catch up.



Gold's recent performance has been stellar, as the precious metal gained 27% in 2024 and over 11% in the first six weeks of 2025. However, mining equities have not kept up the pace.



Top majors Barrick (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) and Newmont NYSE: NEM) reported disappointing third-quarter earnings, as all-in-sustaining costs (AISC) rose by 20% and 13%, respectively.



"Labor remains one of the substantial expenses for miners, and we expect the inflation story to continue playing out over the next year or so," Sarah Tomlinson, director of mine supply at Metal Focus, noted for Reuters.



In Australia, a major gold-producing country, the Albanese government's "<a target="_blank" href="https://ministers.dewr.gov.au/watt/same-job-same-pay-growing-wages-australian-workers" rel="noreferrer noopener">Same Job, Same Pay</a>" legislation has increased wages for mine workers. The policy, which came into effect last November, ensures that temporary workers receive the same pay as permanent employees performing the same job.



Thus, 120 workers in New South Wales mines saw annual wages rise by up to $22,000, with another 1,500 workers likely to benefit from similar adjustments. While this policy promotes wage equity, it has added to miners' cost burdens, particularly in an industry grappling with labor shortages and declining interest in mining careers.



Rising gold prices have also driven governments' interest in boosting royalty participation within their jurisdictions. The military-led government has introduced new royalties and tax demands in Mali, Africa's fourth-largest gold producer. The government has increased its share of mining revenues and ordered Barrick to pay back <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/10/41571989/mali-government-threatens-barricks-loulo-mine-permit-over-disputes-on-economic-benefit-sharin" rel="noreferrer noopener">hundreds of millions</a> in taxes and dividends.



In turn, this had a double-whammy impact: effectively, it drove down the country's production—which <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43588936/malian-gold-output-falls-23-as-new-mining-law-pressures-producers" rel="noreferrer noopener">fell by 23%</a> in 2024—while making operations there less profitable.



Still, the gold mining industry has been grappling with rising AISC for years. Since 2016, the average AISC has climbed steadily, driven by higher energy, materials, and labor costs.



In 2022, AISC reached a record high of $1,276 per ounce, up 18% year over year, <a target="_blank" href="https://ibisingold.com/en/article/gold-mining-costs-have-reached-record-levels-what-is-next-for-the-metal" rel="noreferrer noopener">per</a> IBIS InGold.



Despite producer cost pressures, gold's long-term outlook remains strong. Sabrin Chowdhury, head of commodities analysis at BMI, expects it to continue outperforming other metals.



"Gold is benefiting strongly from economic and geopolitical risks, and we expect it to remain elevated," Chowdhury recently <a target="_blank" href="https://www.fitchsolutions.com/bmi/events/mining-and-metals-key-themes-2025-04-02-2025" rel="noreferrer noopener">noted</a>, highlighting central bank buying, trade tensions, and FED's rate cuts as supporting factors.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43615367/peter-schiff-predicts-silvers-explosive-catch-up-move-as-the-gold-to-silver-ratio-crosses-901-analysts-foresee-silver-prices-to-touch-38-in-2025" target="_blank" rel="noreferrer noopener">Peter Schiff Says Silver Is Set For An ‘Explosive' Rally As Yellow Metal Nears $3,000: ‘If You Think You Missed The Boat On Gold'</a></li>
</ul>



Photo by Inozemtsev Konstantin via Shutterstock

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Gold Nears $3,000 But Miners Struggle As Rising Costs Squeeze Profits

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