Algoma Steel Group 株価情報 (NASDAQ: ASTL)

Algoma Steel Group (NASDAQ:ASTL) 株価情報

Algoma Steel Group

Algoma Steel Gr

Algoma Steel Group Inc is a fully integrated steel producer of hot and cold rolled steel products, including coiled sheet and plate, strategically located. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from domestic sales. The company generates the majority of its revenue from the sale of Steel sheets and strips.

Algoma Steel Group Inc

Needham analyst Mayank Tandon reiterates PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) from Hold to Hold.

News

Reiteration

Analyst Ratings

PYPL

Needham Reiterates Hold on PayPal Holdingsto Hold

On Tuesday, during a podcast, Mark Zuckerberg said that Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) artificial intelligence future will cater to both billions of free users and a group willing to pay big for powerful digital agents.
What Happened: In a conversation with podcast host Dwarkesh Patel, which was posted on social media on Tuesday, Zuckerberg outlined how he sees AI being monetized — and it's not just about digital ads.
While acknowledging the power of advertising to support free consumer-facing AI tools, Zuckerberg made it clear that other models, especially paid services, will play a major role.
"There's going to be all these different applications, and different applications tend toward different things," Zuckerberg said. "Ads are great when you want to offer people a free service&#8230; They can get something that is amazing for free."
However, Zuckerberg noted that not every AI use case will work within the ad-supported model, especially those that require heavy computing.
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44831264/microsoft-debuts-computer-use-tool-for-copilot-studio-ceo-satya-nadella-says-anyone-can-build-agents-that-take-action-on-the-ui-across-desktop-and-web-apps" target="_blank" rel="noreferrer noopener">Satya Nadella Says Microsoft's New Tool Allows Anyone To Create AI Agents That Click, Type, And Navigate On Your Computer For You</a>
"Not everyone is going to want a software engineer, or a thousand software engineering agents, or whatever it is. But if you do, that's something you're probably going to be willing to pay thousands, or tens of thousands, or hundreds of thousands of dollars for," he said.
Zuckerberg compared it to how people pay for Netflix or ESPN because the production costs are too high to be covered by ads alone. "You just need to pay to access it. The trade-off is fewer people do it&#8230; There's a value switch there."
He added that Meta will likely support both models — a free, ad-funded offering for the masses, and a premium, compute-intensive tier for those who need more power.
&#8220;I&#8217;m sure we&#8217;ll end up having a premium service. But I think our basic values on this are that we want to serve as many people in the world as possible,&#8221; he concluded.
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<iframe loading="lazy" title="Mark Zuckerberg – Meta's AGI Plan" width="500" height="281" src="https://www.youtube.com/embed/rYXeQbTuVl0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: Meta is expected to showcase its advancements in AI as it releases its <a href="https://www.benzinga.com/general/social-media/25/04/45083272/meta-platforms-q1-earnings-preview-analyst-expects-weak-guidance-will-company-continue-streak-of-revenue-beats">first-quarter earnings after the market closes</a> on Wednesday.
Wall Street analysts project Meta will report revenue of $41.39 billion for the quarter, an increase from $36.45 billion in the same period last year. The company has outperformed revenue expectations for 10 consecutive quarters.
Just a day ahead of its earnings release, Meta held its inaugural Gen-AI developer conference, LlamaCon. A key announcement from the event was the launch of Meta AI, an AI assistant that could rival ChatGPT and is expected to have its own standalone app.
Price Action: Meta's stock is down 7.48% so far in 2025 but remains up 28.89% over the past 12 months. On Tuesday, shares gained 0.85% during regular trading hours, but dipped 0.83% in premarket trading on Wednesday, falling to $549.82, <a href="https://pro.benzinga.com/dashboard">according to Benzinga Pro</a>.
In Benzinga Edge's Stock Rankings, Meta holds a growth score of 75.06% and a momentum score of 78.98%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against its competitors</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/24/07/39842841/charlie-munger-said-getting-rich-is-harder-than-ever-but-heres-the-beauty-of-it-you-only-have-to" target="_blank" rel="noreferrer noopener">Charlie Munger Said Getting Rich Is Harder Than Ever, But Here&#8217;s ‘The Beauty Of It&#8217; — You Only Have To Do It Once</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Equities

Markets

Tech

Meta CEO Mark Zuckerberg Says AI Won't Just Be About Free Tools And Ads — Some People Will Pay A Fortune To Deploy Armies Of Digital Workers

Macro Economic Events

Econ #s

Economics

Eurozone Gross Domestic Product (YoY) Preliminary For Q1 1.2% Vs. 1.0% Est.; 1.2% Prior

Eurozone Gross Domestic Product (QoQ) Preliminary For Q1 0.4% Vs. 0.2% Est.; 0.2% Prior

Outlook
<ul>
<li>The Company targets approximately 1,600 to 1,800 net new stores and capital expenditures in the range of approximately $700 million to $800 million for the 2025 fiscal year.</li>
<li>The Company plans to return $3 billion to shareholders in 2025 through 2026, adding to the $1.5 billion it delivered to shareholders in 2024.</li>
<li>The Company anticipates the franchise mix of net new stores will gradually increase to 40-50% for KFC and 20-30% for Pizza Hut over the next few years.</li>
</ul>

Earnings

Guidance

General

YUMC

Yum China Targets Approximately 1,600 To 1,800 Net New Stores And Capital Expenditures Of Approximately $700M-$800M For 2025

Yum China Holdings Q1 2025 Adj. EPS $0.77 Misses $0.78 Estimate, Sales $2.98B Miss $3.09B Estimate

JetBlue Airways Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) is reportedly in talks with United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) over a partnership between the two companies.
What Happened: The New York-based airline is seeking partnerships with other airlines in the U.S. after talks of an alliance with American Airlines Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) fell through in 2023. However, the partnership with United will be different, sources told Reuters on Wednesday.
Sources in the report suggest the partnership will focus on increased connectivity as well as more opportunities for customers to utilize frequent flier miles, but won't coordinate on schedules and pricing.
Interestingly, JetBlue President Marty St. George shared with investors that the airline was negotiating partnerships with other airlines during the company's earnings call.
"We are looking at and we're talking to multiple airlines about domestic partnerships. I think we're getting very close to making announcement, expect to make the announcement this quarter," St. George said.
Why It Matters: News of the possible negotiations comes in as JetBlue has been battling <a href="https://www.benzinga.com/news/earnings/25/04/45070298/jetblue-warns-of-weak-travel-demand-pulls-2025-outlook">a difficult quarter</a>, with the airline sharing at the earnings call that its revenue was down 3.1% YoY and capacity fell 4.3% compared to the last quarter.
"We expect softened demand for off-peak travel to continue into the second quarter, where the booking curve is more exposed to macro uncertainty and deteriorating consumer confidence," St. George said in the call.
JetBlue was<a href="https://www.benzinga.com/general/travel/25/01/42791291/jetblue-fined-2-million-for-chronic-flight-delays-delta-united-rank-among-most-on-time-airlines"> fined $2 million </a>earlier this year by the U.S. Government's Department of Transportation (DOT) for multiple "chronically delayed flights."
The company was <a href="https://www.benzinga.com/general/travel/25/04/44671680/which-us-airline-is-facing-the-strongest-industry-tailwinds">also exploring a possible acquisition </a>of budget air travel company Spirit Airlines (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SAVEQ#OTC">SAVEQ</a>), but talks fell through between the two companies.
Price Action: JBLU is currently trading at $4.18 on the NASDAQ, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/04/45035715/airbus-finalizes-deal-with-spirit-to-take-over-assets-paving-way-for-boeing-acquisition">Airbus Finalizes Deal With Spirit To Take Over Assets, Paving Way For Boeing Acquisition</a></li>
</ul>
Image Via Shutterstock

Travel

JBLU

SAVEQ

JetBlue In Talks With United Airlines Over Possible Partnership: Report

VRSK

In Response To Escalating Insurance Losses From Large-scale Civil Unrest Events In Recent Years, Leading Global Analytics And Data Provider Verisk Is Releasing The Industry's First-of-its-kind Catastrophe Model To Help Quantify The Financial Impacts Of Strikes, Riots And Civil Commotion In The United States

At a Michigan rally commemorating the <a href="https://www.benzinga.com/media/25/04/45089307/trump-says-hes-already-ended-inflation-at-michigan-rally-held-to-mark-100-days-in-office-promises-to-protect-medicare-and-social-security-democrats-plan-senate-ba">100th day of his second term</a>, President Donald Trump once again remarked on Federal Reserve Chair Jerome Powell, claiming the superiority of his own knowledge over the former's without taking his name.
What Happened: Addressing supporters at Macomb Community College, Trump said: "Inflation is basically down and interest rates came down despite the fact that I have a Fed person who&#8217;s not really doing a good job, but I won&#8217;t say that… You&#8217;re supposed to let him do his own thing, but I know much more than he does about interest rates, believe me."
Trump&#8217;s comments come in the heels of a <a href="https://www.benzinga.com/25/04/45074861/us-consumer-expectations-falls-to-13-year-lows-as-recession-fears-inflation-worries-surge">report shared by The Conference Board</a>, which indicates that consumer confidence in the U.S. dropped sharply in April, with the Expectations Index plunging to 54.4. This is its lowest level since October 2011. 
The overall Consumer Confidence Index <a href="https://www.benzinga.com/25/04/45074861/us-consumer-expectations-falls-to-13-year-lows-as-recession-fears-inflation-worries-surge">fell 7.9 points to 86</a>, marking its fifth consecutive monthly decline. The drop implies increasing pessimism about inflation and job prospects, triggering fears of a potential recession as values below 80 have historically signaled downturns.
See Also: <a href="https://www.benzinga.com/markets/25/04/45091467/trump-can-either-have-his-cake-or-eat-it-economist-justin-wolfers-calls-out-presidents-fundamental-incoherence-on-trade-deals-and-tariffs">Trump Can Either Have His Cake Or Eat It, Economist Justin Wolfers Calls Out President&#8217;s &#8216;Fundamental Incoherence&#8217; On Trade Deals And Tariffs</a>
Why It Matters:  Trump&#8217;s latest remarks come as tensions between him and the central bank over the direction of interest rate policy continue to fester. While the Fed has maintained its benchmark federal funds rate at <a href="https://www.newyorkfed.org/markets/reference-rates/effr">4.33%</a>, Trump has continuously called for further cuts, arguing that inflation is no longer a pressing issue.
The Fed, however, remains cautious due to economic turmoil, partly generated by Trump's tariff policies. Despite his attacks, Trump has rescinded calls for removing Powell, saying, "<a href="https://www.benzinga.com/25/04/44940900/us-futures-dollar-jump-amid-trumps-latest-comments-on-fed-nikkei-rebounds-to-three-week-high">I have no intention to firing him</a>."
Despite tensions with Trump, Powell's stance has been firm. His <a href="https://www.benzinga.com/markets/25/04/44943304/feds-jerome-powell-isnt-budging-on-rate-cut-despite-trumps-bashing-and-pressure-heres-why">refusal to cut rates</a> is grounded in the Fed's data-driven mandate, enduring concerns about inflation, and a robust labor market. Powell has also reminded critics that the Fed's authority is based on law, and its leaders are safeguarded from removal over mere policy disagreements.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/45069781/trumps-first-100-days-what-he-delivered-where-he-fell-short-how-markets-reacted">Trump&#8217;s First 100 Days: What He Delivered, Where He Fell Short, How Markets Reacted</a></li>
</ul>
Image Via Shutterstock

Federal Reserve

Trump Says He Knows 'Much More' Than Fed Chair Jerome Powell About Interest Rates

Piper Sandler analyst Arvind Ramnani maintains Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) with a Overweight and raises the price target from $383 to $384.

Price Target

Piper Sandler Maintains Overweight on Visa, Raises Price Target to $384

Piper Sandler analyst Brent Bracelin reiterates Freshworks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) with a Overweight and raises the price target from $20 to $22.

FRSH

Piper Sandler Reiterates Overweight on Freshworks, Raises Price Target to $22

Two people connected with the Department of Government Efficiency (DOGE) were provided accounts on classified U.S. government networks that manage sensitive nuclear weapons data, according to a report.
What Happened: Luke Farritor, a 23-year-old former SpaceX intern, and Adam Ramada, a Miami venture capitalist, appeared in directories on two classified systems run by the National Nuclear Security Administration (NNSA) and the Department of Defense, NPR <a href="https://www.npr.org/2025/04/28/nx-s1-5378684/doge-energy-department-nuclear-secrets-access">reported</a>, citing sources.
These networks include the NNSA Enterprise Secure Network, which holds highly restricted nuclear design data, and SIPRNet, which regulates secret-level communications.
The Department of Energy (DOE) told NPR that these accounts were never accessed, but the development has raised eyebrows within national security circles.
See Also: <a href="https://www.benzinga.com/markets/25/04/45034082/elon-musks-doge-saves-160-billion-but-could-lead-to-billions-in-hidden-costs-for-taxpayers-warns-new-analysis-public-will-end-up-paying-for-this">Elon Musk&#8217;s DOGE Saves $160 Billion But Could Lead To Billions In Hidden Costs For Taxpayers, Warns New Analysis: &#8216;Public&#8230;Will End Up Paying For This&#8217;</a>
Why It Matters: To access these networks, officials usually require a "Q" clearance, which is the DOE's highest level of security clearance. Neither Farritor nor Ramada had this level of clearance, according to the report.
Merely being present in these directories does not enable access to classified material, but experts note that it could be a gateway to further infiltration.
Concerns about DOGE's access have been exacerbated by its increasing influence among federal agencies and an earlier <a href="https://www.benzinga.com/25/04/44859945/whistleblower-alleges-doge-involved-in-major-cybersecurity-breach-at-us-labor-agency">whistleblower report</a> alleging unauthorized data access at the National Labor Relations Board.
The appearance of these accounts also contradicts assurances made by Energy Secretary Chris Wright in February <a href="https://www.cnbc.com/amp/2025/02/07/doge-staffers-at-department-of-energy-dont-have-access-to-nuclear-secrets-secretary-says.html">on</a> CNBC that DOGE personnel did not have access to them.
This new report comes amid rising scrutiny over DOGE's access to government agencies and their sensitive data. Earlier this month, House Democrats voiced their concerns and alleged that <a href="https://www.benzinga.com/25/04/44888379/elon-musks-doge-under-fire-house-democrats-say-agency-is-building-unlawful-master-database-of-sensitive-us-data">DOGE is creating a cross-agency master database</a> that might compromise privacy and national security.
DOGE has been previously linked with privacy and security concerns across other federal agencies, such as its attempts to access <a href="https://www.benzinga.com/personal-finance/25/04/44697671/trump-administrations-push-to-access-social-security-data-faces-major-setback-as-court-dismisses-appeal" target="_blank" rel="noreferrer noopener">data from the Social Security Administration</a>, <a href="https://www.benzinga.com/news/25/02/43768756/privacy-concerns-emerge-as-elon-musks-doge-team-seeks-access-to-taxpayer-data" target="_blank" rel="noreferrer noopener">taxpayer data</a>, and its reported <a href="https://www.benzinga.com/politics/25/04/44683851/elon-musks-secretive-doge-team-using-ai-and-disappearing-messages-to-monitor-federal-workers-for-anti-trump-sentiment-bypassing-records-laws-and-locking-out-agencies-report" target="_blank" rel="noreferrer noopener">tracking of employee communications using artificial intelligence tools.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/25/04/45058801/elon-musks-doge-influence-could-help-his-companies-avoid-over-2-billion-in-potential-liabilities-senate-report">Elon Musk&#8217;s DOGE Influence Could Help His Companies Avoid Over $2 Billion In Potential Liabilities: Senate Report</a></li>
</ul>
Image Via Shutterstock

Government

Ex-SpaceX Intern And Miami VC From DOGE Gain Access To Highly Classified US Nuclear Networks Without Top Clearance: Report

Aurora Mobile Announced The Integration Of Alibaba's Qwen3 Model Family Into Its Leading Enterprise-grade AI Platform GPTBots.ai, Marking A Significant Step Forward In Delivering State-of-the-art AI Solutions Tailored For Enterprise Needs

Buybacks

Fortuna Mining Announced Today That The Toronto Stock Exchange Has Approved The Renewal Of Fortuna's Normal Course Issuer Bid To Purchase Up To Five Percent Of Its Outstanding Common Shares

Rep. Don Bacon (R-Neb.) has expressed his support for $500 billion in Medicaid cuts. This comes as congressional Republicans are striving to preserve the 2017 Tax Cuts and Jobs Act.
What Happened:&nbsp;Bacon, joined by 12 other Republicans, has closely reviewed the proposal and identified three key areas for potential spending cuts, based on estimates from the nonpartisan Congressional Budget Office. 
These include imposing work requirements for able-bodied adults without children, removing undocumented migrants from Medicaid coverage, and requiring annual audits to ensure only eligible individuals receive Medicaid. The estimated savings from these measures are around $200 billion, $200 billion, and $100 billion, respectively, stated the Nebraska Rep. in an <a href="https://www.ketv.com/article/nebraska-rep-bacon-supports-medicaid-cuts/64627089">interview</a> with KETV.
The House of Representatives&#8217; initial budget proposal includes around $880 billion in reductions to Medicaid funding. However, Bacon clarified that he does not support cuts that would affect the quality of care provided by Medicaid or hospitals. He believes these reforms preserve the &#8220;integrity&#8221; of Medicaid for those who truly need it and protect hospitals.
Speaking about the White House, Bacon stated, &#8220;&#8230;they&#8217;re actually in rough agreement because the President&#8217;s also said he doesn&#8217;t want to cut Medicaid. So we&#8217;re sort of saying the same thing.&#8221;
Despite this, the group, Nebraska For Us, accused Bacon of changing his stance on the issue. Angie Lauritsen, the group&#8217;s director, stated,  &#8220;First, he said he opposed Medicaid cuts. Now he's open to slashing hundreds of billions of dollars from it. Which is it?"
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/45078938/in-2017-lamborghini-gave-pope-francis-a-custom-supercar-valued-at-950000-heres-what-he-did-with-it" target="_blank" rel="noreferrer noopener">In 2017, Lamborghini Gave Pope Francis A Custom Supercar Valued At $950,000. Here&#8217;s What He Did With It</a>
Why It Matters: The proposed Medicaid cuts come amid a broader debate on federal spending. Nebraska's congressional Republicans claim the 2017 tax cuts lowered individual taxes by roughly 20%, saving the average Nebraskan around $1,600 annually. To keep these tax cuts in place, Bacon noted that it would likely require cutting between $1 trillion and $1.5 trillion from the federal budget.
Notably, President Donald Trump <a href="https://www.benzinga.com/government/25/04/45064937/donald-trump-threatens-to-veto-any-gop-bill-that-touches-medicaid-or-social-security-if-it-cuts-it-i-would-not-approve">threatened to veto any bill</a>&nbsp;that trims Social Security or federal health programs. &#8220;If it cuts it, I would not approve,&#8221; stated Trump clarifying he&#8217;s all for cutting the waste and fraud on Medicaid. Meanwhile,&nbsp;<a href="https://www.benzinga.com/general/health-care/25/04/44783620/speaker-mike-johnson-says-us-must-eliminate-people-on-medicaid-who-are-not-actually-eligible-to-be-there">House Speaker Mike Johnson</a>&nbsp;has been advocating for stricter Medicaid eligibility. 
The proposed cuts also come at a time when Nebraska is facing a financial crunch, with&nbsp;<a href="https://www.benzinga.com/news/25/03/44304047/mark-cuban-warns-nebraska-will-get-crushed-by-tariffs-and-medicaid-cuts-faces-a-200m-shortfall-this-year">Mark Cuban warning</a>&nbsp;that the state could face a $200 million budget shortfall due to tariffs and Medicaid cuts.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/45091170/jeff-bezos-backed-slate-auto-to-assemble-its-25000-ev-pickup-truck-at-a-former-printing-plant-in-indiana" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Tesla Rival To Assemble $25,000 EV Truck In Indiana, Promises 2,000 Jobs &#8211; Benzinga</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.

Politics

Don Bacon Supports $500B Medicaid Cuts Proposal Including Annual Eligibility Audits To Preserve 2017 Tax Cuts

The Core earnings per share guidance includes the implementation of the £2 billion share buyback program to the end of Q2 2026.
The Group has made planning assumptions that we expect turnover for Specialty Medicines to increase by a low double-digit per cent, Vaccines to decrease by a low-single digit per cent, and General Medicines to be broadly stable.

Biotech

Large Cap

Health Care

GSK Affirms Its FY25 Guidance And Expects Its Turnover To Increase Between 3%-5% And Core Operating Profit To Increase Between 6%-8%. Core EPS Is Expected To Increase Between 6%-8%

Donald Trump, dubbed the "<a href="https://www.benzinga.com/money/which-crypto-is-up-because-of-trumps-inauguration">crypto president</a>," has completed 100 days in office since taking the oath on Jan. 20. Delivering on the pre-election promise, he established a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Strategic Reserve, but it has not been enough to reverse the apex cryptocurrency&#8217;s decline throughout his tenure. 
What happened: Bitcoin <a href="https://in.benzinga.com/markets/cryptocurrency/25/01/43079668/bitcoin-hits-record-109000-ahead-of-trumps-inauguration-sparks-market-rally">recorded </a>its all-time high of $109,000 ahead of Trump's presidential inauguration, owing to high expectations from his administration.
Trump had promised to create a national Bitcoin reserve during the campaign trail, and his subsequent victory fueled a bullish frenzy for the coin, propelling it beyond $100,000 for the first time in history.
Trump kept his promise and passed an executive order creating a reserve that will be funded with <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Bitcoin owned by the federal government</a>, obtained through criminal or civil asset forfeiture proceedings.
However, even a strong catalyst like this hasn't come to the rescue of the leading digital asset, which has fallen more than 13% during Trump 2.0
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains During First 100 Days Of Trump&nbsp; +/-</td>
<td>Gains During First 100 Days Of Biden +/-</td>
</tr>
<tr>
<td>Bitcoin</td>
<td>-13.18%</td>
<td>+60.4%</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/04/44971891/sec-teams-up-with-nayib-bukele-led-el-salvador-for-a-crypto-regulatory-sandbox">SEC Zooms In On Nayib Bukele-Led El Salvador&#8217;s Crypto Regulation Model</a>
The slump has been primarily driven by Trump's <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45084679/q1-gdp-recession-bets-spike-as-trump-tariffs-risk-fuel-2020-style-economic-shock">sweeping tariff measures</a> against key trading partners, which have sparked macroeconomic uncertainty and recession fears.
Notably, Bitcoin's price hit a bottom of $76,000 earlier this month and has since rebounded sharply, although it remains 13% below its peak.
On the other hand, when former President Joe Biden began his tenure on Jan. 30, 2021, Bitcoin was trading around $36,000. Over the next 100 days, it rose to $57,750.18, reflecting a 60% surge. During this time, it also clocked an all-time high of $64,800.
Notably, the Federal Reserve maintained near-zero interest rates during this time, potentially encouraging investments in Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $94,817.49, having barely moved in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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$BTC

Bitcoin Falls 13% In First 100 Days Of 'Crypto President' Trump — How Did It Perform Under Biden?

United Parcel Service Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) has disclosed its intentions to lay off 20,000 employees and cease operations in 73 facilities. This decision is attributed to a considerable decline in deliveries for&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), its primary client, and the ongoing repercussions of President Donald Trump&#8216;s tariffs.
What Happened:&nbsp;&nbsp;UPS is planning to cut 20,000 jobs and shut down 73 facilities. This move is a consequence&nbsp;of a planned reduction in&nbsp;deliveries for Amazon and the continued impact of President Trump&#8217;s tariffs. The job cuts are part of an extensive operational restructuring aimed at cost-cutting and enhancing efficiency. An Amazon spokesperson stated, &#8220;Due&nbsp;to their operational needs, UPS&nbsp;requested a reduction in volume&nbsp;and we certainly respect their&nbsp;decision,&#8221; reported Reuters.
Sean O&#8217;Brien, general president of the Teamsters, said that UPS is contractually obligated to create 30,000 jobs as part of its current national master agreement. He warned that any violation of this agreement or attempts to compromise the hard-earned jobs of Teamsters would result in a severe backlash.
In response, UPS assured its commitment to the contract. The company currently has 406,000 employees in the U.S., with more than 75% represented by unions.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/45074825/jeff-bezos-says-an-employee-looked-at-me-like-i-was-the-stupidest-person-theyd-ever-seen-then-offered-a-simp" target="_blank" rel="noreferrer noopener">Jeff Bezos Says An Employee &#8216;Looked At Me Like I Was the Stupidest Person They&#8217;d Ever Seen&#8217; — Then Offered A Simple Idea That Changed Amazon</a>
Why It Matters:&nbsp;The announcement of job cuts and facility closures comes on the heels of UPS&#8217;s Q1 2025 results, which were a mixed bag. The company reported a <a href="https://www.benzinga.com/news/earnings/25/04/45065830/ups-delivers-mixed-bag-q1-supply-chain-weakness-offset-by-strong-domestic-and-international-growth">consolidated revenue</a> decline of 0.7% year-over-year to $21.546 billion, beating the consensus of $21.05 billion. 
The adjusted EPS was $1.49, up 4.3% YoY, above the consensus of $1.38. Despite the better-than-expected results, the company is evidently grappling with the impact of reduced Amazon deliveries and tariffs, leading to this significant operational restructuring.
Earlier this month, President Trump imposed new 145% tariffs on many Chinese goods, escalating trade tensions. While U.S. imports make up less than 2% of UPS's global volume, the China-U.S. route remains highly profitable, accounting for 11% of UPS's international revenue. UPS is seeing increased volume from Europe and Asia, but small businesses reliant on China could be hit hard. UPS also faces risks from Chinese e-commerce giants as the duty-free status ends in May. "In the worst case," a supply shock could follow stated Brian Dykes, EVP and CFO at UPS.
UPS holds a Growth rating of 38.42% and a value rating of 57.32%, according to&nbsp;<a href="https://www.benzinga.com/quote/UPS" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s Proprietary Edge Rankings</a>. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>
The stock plunged more than 12% over the past month. On Tuesday, it closed 0.37% lower, as per <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

UPS To Cut 20,000 Jobs, Close Facilities As Amazon Shipments Drop Amid Trump Tariffs

Brian Colello, Morningstar&#8217;s equity strategist, expressed a bearish outlook on Nvidia&#8217;s China business, while maintaining a positive view on its prospects in developed markets.
What Happened: Colello suggested that Huawei&#8217;s competitive threat is a significant obstacle for Nvidia, especially in China. He stated, &#8220;I think it&#8217;s pretty much game over for Nvidia in China.&#8221; Colello, while speaking to Yahoo Finance pointed out that U.S. restrictions, including the ban on Nvidia&#8217;s H20 chip, have hindered Nvidia&#8217;s ability to sell high-performance chips in China.
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Nvidia has reportedly recorded a $5.5 billion write-off tied to its China business, with further details expected in its earnings report later in May. Colello believes Nvidia's operations in China have steadily deteriorated, calling the H20 ban "the final straw&#8221; of Nvidia being able to sell anything halfway decent into China. Colello also expects Huawei&#8217;s products to be higher quality than Nvidia&#8217;s H20 chips.  
While Nvidia faces challenges in China, Colello remains optimistic about the company&#8217;s short-term prospects in developed markets like Europe and the U.S., highlighting strong demand from hyperscalers like Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). He is confident that U.S. companies will not slowdown their AI investments even if there is a potential recession in the future.
SEE ALSO: <a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A &#8216;Surprise To Most&#8217; As China&#8217;s Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
Why It Matters: Huawei has <a href="https://www.benzinga.com/markets/equities/25/04/45033025/nvidia-faces-new-challenge-as-huawei-tests-powerful-ascend-910d-ai-chip-amid-us-sanctions-aiming-to-disrupt-high-end-market-report">begun testing </a>its new AI chip, the Ascend 910D, which is designed to rival Nvidia&#8217;s flagship processors. This move comes even as U.S. sanctions continue to stifle China's semiconductor ambitions.
Furthermore, the Trump administration is reportedly considering significant changes to <a href="https://www.benzinga.com/25/04/45090935/trump-administration-targets-biden-era-ai-chip-curbs-could-scrap-country-tiers-and-tighten-access-to-nvidias-h100-chips-report">Biden-era restrictions</a> on AI chip exports. These changes could further tighten access to Nvidia&#8217;s H100 chips.
These developments could potentially impact Nvidia&#8217;s market position in China and its overall growth. While Huawei's current offerings don't yet signal Chinese superiority in AI, Colello noted that China's rapid progress—exemplified by Huawei and models like DeepSeek—raises concerns about its ability to catch up faster than anticipated. However, strategist Colello remains confident in U.S. tech dominance with Nvidia continuing to lead in innovation. 
Colello also pointed to projects like Stargate to highlight the significant investment opportunities in U.S. AI infrastructure. He named Nvidia as one of Morningstar's top picks, emphasizing its limited vulnerability to new tariffs and its dominant position in the AI sector.
Benzinga's Edge Rankings highlight strong momentum and growth rankings for Nvidia in the 64th and 95th percentiles, respectively. Curious how other stocks stack up? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Click here</a> to uncover growth and momentum scores for top stocks.<a href="https://www.benzinga.com/quote/AGX" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

MSFT

NVDA

'It's Pretty Much Game Over For Nvidia In China,' Says Analyst: Here's Why

Uxin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) reported quarterly losses of $(0.02) per share. This is a 99.33 percent increase over losses of $(3.00) per share from the same period last year. The company reported $81.76 million in sales this quarter. This is a 41.42 percent increase over sales of $57.81 million the same period last year.

UXIN

Uxin Q3 Adj. EPS $(0.02) Up From $(3.00) YoY, Sales $81.76M Up From $57.81M YoY

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