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Kyndryl Hldgs

Kyndryl Holdings Inc is a technology services and infrastructure services provider company. It provides advisory, implementation, and managed services across a range of technology domains to help customers manage and modernize enterprise IT environments in support of their business and transformation objectives. The company's reportable segments consist of the following: Principal Markets which represents its operations in operations in Australia / New Zealand, Canada, France, Germany, India, Italy, Spain, Portugal, and the United Kingdom / Ireland, United States, Japan, and Strategic Markets. It derives maximum revenue from the United States.

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Dan Ives, an analyst from Wedbush Securities, has warned that the idea of manufacturing Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) products, including iPhones, in the U.S. is not feasible and would result in <a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44629335/apple-stock-slammed-by-trump-tariffs-is-a-death-cross-next">significantly higher costs</a>.
What Happened: Ives shared a post on X, formerly Twitter, and said, "If you like a $3,500 iPhone, we should build them in the US or a $1,000 iPhone built in China. Discuss below."
He shared an image from a note that stated, "Making Apple products and iPhones in the U.S. sounds great behind the microphones in the 202 area code&#8230;but in reality, they are a fantasy tale that in our view will never happen."
He went on to stress that moving production to the U.S. would likely drive iPhone prices up by two to three times.
He said that the logistics of moving iPhone manufacturing to the U.S. would be a "non-starter" at the current price point. "For U.S. consumers, the reality of a $1,000 iPhone being one of the best-made consumer products on the planet would disappear."
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/04/44620411/mark-zuckerberg-led-meta-set-to-face-truth-at-senate-hearing-over-china-operations-and-communist-party-censorship-efforts" target="_blank" rel="noreferrer noopener">Mark Zuckerberg-Led Meta Set To Face ‘Truth&#8217; At Senate Hearing Over China Operations And Communist Party Censorship Efforts</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you like a $3,500 iPhone&#x1f4f1; we should build them in the US or a $1,000 iPhone built in China. Discuss below &#x1f34e;&#x1f34f;&#x1f447; <a href="https://t.co/HStfiZGT93">pic.twitter.com/HStfiZGT93</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1907838824056504396?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
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Ming-Chi Kuo, an analyst at TF International Securities, also weighed in on the situation, suggesting that while Apple has made progress in shifting some production outside China, it faces substantial challenges due to the Donald Trump administration's tariffs.
"If Apple keeps prices unchanged, its overall gross margin could significantly drop by an estimated 8.5-9%," he stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With 85-90% of Apple&#39;s hardware assembly based in China and the rest in India and Vietnam, the Trump administration&#39;s new tariff policies—imposing 54%, 26%, and 46%, respectively—will significantly raise costs for hardware exports to the US. If Apple keeps prices unchanged, its…
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1907775228069163351?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
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Why It Matters: President Trump&#8217;s broad new trade tariffs rattled global markets on Thursday, sparking a massive sell-off reminiscent of the COVID-19 pandemic era.
Wall Street saw a <a href="https://in.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">staggering $2 trillion in market value erased</a>, with the 10 largest U.S. companies alone losing $1 trillion. Apple tumbled 9.25%, facing its steepest decline since March 2020 and shedding nearly $300 billion in market capitalization.
Rosenblatt analyst Barton Crockett estimated that Apple could be hit with $39.5 billion in tariff costs based on initial calculations. He noted that nearly 100% of iPhones sold in the U.S. are manufactured in China, along with 90% of Macs, 80% of iPads, 90% of Apple Watches, and 35% of AirPods.
While some of these products are also produced in Vietnam, both China and Vietnam <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/04/44632659/trump-tariffs-could-blow-up-apple-analyst-estimates-39-5-billion-impact">face steep tariffs of 54% and 46%</a>, respectively.
Price Action: Apple shares have declined 16.67% year-to-date, but over the past 12 months, the stock has gained 17.77%, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
Based on Benzinga&#8217;s Edge Rankings, Apple has a growth rating of 44.96%. Want to see how other companies compare? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full rankings</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>
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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.

News

Markets

Tech

AAPL

Apple Making iPhones In America A Fantasy That Sounds Great 'Behind The Microphones,' Says Top Analyst Dan Ives

South Korea&#8217;s suspended president, Yoon Suk Yeol, was removed from office Friday after the country&#8217;s Constitutional Court unanimously upheld parliament&#8217;s <a href="https://www.benzinga.com/markets/equities/24/12/42497084/south-korean-lawmakers-impeach-yoon-over-martial-law-attempt">impeachment over his December martial law declaration</a>.
What Happened: All eight justices voted to strip Yoon of presidential powers, concluding he had &#8220;committed a grave betrayal of the trust of the people&#8221; and created widespread chaos in society, the economy, and foreign policy, <a href="https://www.theguardian.com/world/2025/apr/04/south-korea-president-yoon-suk-yeol-impeachment-verdict-results-removal">reported</a> The Guardian.
Acting president Han Duck-soo will remain in office until a new leader is elected within 60 days. Han pledged to ensure &#8220;there are no gaps in national security and diplomacy&#8221; during the transition period.
&#8220;The defendant not only declared martial law, but also violated the constitution and laws by mobilizing military and police forces to obstruct the exercise of legislative authority,&#8221; said acting chief justice Moon Hyung-bae in the televised ruling.
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44640503/bill-ackman-just-pick-up-the-phonesays-trump-will-reward-early-dealmakers-punish-tariff-retaliation">Bill Ackman: &#8216;Just Pick Up The Phone&#8217;—Says Trump Will Reward Early Dealmakers, Punish Foreign Tariff Retaliation</a>
Why It Matters: South Korea&#8217;s National Assembly initially impeached Yoon in mid-December after he imposed martial law, claiming it was necessary to prevent &#8220;anti-state&#8221; opposition forces with North Korean sympathies from threatening the country. Lawmakers defied security forces to reject the order, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42320772/south-koreas-president-to-be-impeached-in-2024-polymarket-traders-are-unsure">forcing Yoon to lift it after just six hours</a>.
The ruling People Power Party said it &#8220;solemnly accepts and humbly respects&#8221; the court&#8217;s decision, while Yoon&#8217;s lawyer called the judgment &#8220;completely incomprehensible&#8221; and a &#8220;purely political decision.&#8221;
Political uncertainty has weighed on South Korean markets. The iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) closed at $53.14, down 2.73%, while the Franklin FTSE South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLKR#NYSE">FLKR</a>) ended at $18.09, down 2.79% on Thursday. As of Friday, 12:37 p.m. local time, the Korea Composite Stock Price Index or KOSPI was down 1.49%, trading at 2,449.69.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/25/04/44632423/kevin-o-leary-says-by-33-you-should-have-100000-saved-somewhere-thats-the-age-when-its-really-time-to-start-getting-focused" target="_blank" rel="noreferrer noopener">Kevin O' Leary Says By 33, You Should Have $100,000 Saved ‘Somewhere' — ‘That's the Age When it's Really Time to Start Getting Focused</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.

Global

FLKR

HXSCF

SSNLF

South Korea's Yoon Suk Yeol Removed, Court Says President 'Committed A Grave Betrayal'

A prominent cryptocurrency analytics firm highlighted XRP&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) growing popularity among retail investors on Thursday, contrasting it with Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) more institutionally driven rally.
What Happened: In an X post,&nbsp;Glassnode&nbsp;pointed out a significant divergence between XRP&#8217;s and Bitcoin&#8217;s rally paths. 
Since the 2022 cycle low,&nbsp;XRP has seen a 490% increase in active addresses, while Bitcoin has only seen a 10% increase, the research firm said, an indication of &#8220;sharp&#8221; retail interest.
Glassnode noted that despite similar price gains since&nbsp;the 2022 cycle low, roughly 5x to 6x, the trajectories of the two cryptocurrencies have differed significantly. Bitcoin has shown steady, catalyst-driven growth, while XRP&nbsp;traded flat until a <a href="https://www.benzinga.com/markets/24/12/42324828/xrp-price-explodes-415-in-30-days-experts-analyze-why-xrp-is-going-up">December&nbsp;breakout</a>, driven by short-term retail&nbsp;speculation.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> has emerged as a new retail favorite this cycle, diverging from <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>'s more institutional-driven rally. Since the 2022 cycle low, <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> active addresses are up +490%, while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has only seen a +10% increase &#8211; a sharp signal of speculative retail demand. <a href="https://t.co/mGRuktUVXK">pic.twitter.com/mGRuktUVXK</a>
&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1907727455261020605?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44607188/arthur-hayes-predicts-bitcoin-to-hit-250000-by-end-of-year" target="_blank" rel="noreferrer noopener">Arthur Hayes Predicts Bitcoin To Hit $250,000 By End Of Year</a>
Moreover, XRP&#8217;s realized market capitalization, a measure of the total capital invested, surged from $30 billion to $64 billion during this period, with more than half coming from investors in the last six months. This indicated that the rally was retail-driven.
It&#8217;s also worth noting that search interest for XRP hit 100 earlier in January, according to Google Trends, indicating peak popularity. However, the excitement has considerably ebbed since then.
Why It Matters: The analysis comes at a time when leading cryptocurrencies have held steady, even as stock markets have been battered by tariff moves. On Thursday,&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/04/44640359/bitcoin-ethereum-steady-dogecoin-falls-as-trump-trade-moves-crash-stocks-why-arthur-hayes-be">Bitcoin dipped below $82,000</a>&nbsp;in the early trading hours but recovered to $83,000 by evening. 
On the broader timeframe, though, it has been a rough ride, with Bitcoin and XRP losing 5.42% and 18%, respectively, over the month.
Price Action:  At the time of writing, XRP was exchanging hands at $2.05, down 0.01% 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>. Bitcoin traded at $82,960.42, down 0.85%.
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44602870/anthony-scaramucci-hates-it-when-trump-pumps-his-own-coin-but-loves-the-presidents-bitcoin" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Hates It When Trump Pumps His Own Coin, But Loves The President&#8217;s Bitcoin Moves — This Complex Crypto Relationship Decoded</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$XRP

XRP Emerges As Retail Favorite, Outpacing Bitcoin's Institutional Rally: Analyst Unpacks Their Distinct Journeys

On Thursday,&nbsp;Cathie Wood-led Ark Invest made a significant move by purchasing shares of&nbsp;Robinhood Markets Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>). This strategic investment comes as Robinhood continues to expand its platform, enhancing its financial services offerings.
The Robinhood Trade
Ark Invest purchased 36,250 shares of Robinhood on Thursday. The trade, executed through the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), amounted to approximately $1.39 million based on Robinhood&#8217;s last closing price of $38.26. The stock corrected by over 10% amid a broader <a href="https://in.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">market slump</a> triggered by the imposition of trade tariffs by President Donald Trump. This move follows a series of investments by Ark in Robinhood.
On Wednesday, Ark purchased 6,875 shares of Robinhood through ARKK. That trade was valued at roughly $293,425. The Wood-led firm has consistently been purchasing the stock this week. On Monday, it <a href="https://www.benzinga.com/25/03/44576678/cathie-wood-defies-coreweave-ipo-slump-ark-snaps-up-3-6-million-worth-of-stock-in-nvidia-backed-company">mopped up Robinhood shares</a> worth $1.32 million, while on Tuesday it <a href="https://in.benzinga.com/25/04/44599184/cathie-woods-tuesday-bet-ark-loads-up-on-more-robinhood-stock-amid-platform-expansion">added 7,798</a> shares worth $328,764.
Robinhood is undergoing a significant transformation, as it recently launched an <a href="https://www.benzinga.com/news/25/03/44528951/robinhood-expands-into-banking-will-offer-customers-4-savings-apy-and-cash-home-delivery">integrated suite of financial services.</a> This includes the introduction of Robinhood Banking, which offers checking and savings accounts with a competitive 4% annual percentage yield. The service also provides Federal Deposit Insurance Corporation insurance coverage up to $2.5 million through Coastal Community Bank, a subsidiary of Coastal Financial Corp. This expansion aims to attract retail investors seeking more sophisticated private banking and investment solutions.
Other Key Trades:
<ul>
<li>Sold 41,130 shares of UiPath Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) from the ARKF and another 302,251 shares from ARKW.</li>
<li>Sold 119,913 shares of Repare Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>) from the ARKG.</li>
<li>Bought 21,209 shares of GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) through the ARKK.</li>
<li>Bought 6,222 shares of GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) through the ARKW and 21,209 shares via ARKK.</li>
</ul>
Image via Shutterstock
Read Next: 
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<li><a href="https://benzinga.com/25/04/44579139/trump-administration-reportedly-mulls-tax-hike-for-americas-wealthy-a-funding-strategy-for-other-priorities" target="_blank" rel="noreferrer noopener">Trump Reportedly Considers Raising Taxes On Ultra-Wealthy Striking Rare Common Ground With Ideological Rivals Bill Gates, Bernie Sanders</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>

Equities

ETFs

ARKK

GTLB

HOOD

PATH

RPTX

Cathie Wood Doubles Down: Mops Up Another $1.39 Million Worth Of Robinhood Stock Amid Trump Tariff Dip

As global <a href="https://in.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">markets shed $2 trillion in value</a> following President Donald Trump&#8216;s sweeping reciprocal tariffs, billionaire investor Bill Ackman offered pointed advice to foreign leaders.
What Happened: &#8220;My advice to foreign leaders is that if you have not already reached out to President Donald Trump, you need to do so immediately,&#8221; the Pershing Square Capital Management CEO wrote Thursday on X. &#8220;Trump is, at his core, a dealmaker who sees the world as a series of transactions.&#8221;
Ackman&#8217;s comments come as <a href="https://in.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">financial markets experience their worst sell-off</a>, which echoes the COVID-19 pandemic-era routs. Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) plunged 9.25%, while NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) tumbled 7.81% and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) dropped 8.98%.
The investor emphasized Trump&#8217;s negotiation approach: &#8220;Based on his track record to date with foreign governments, law firms, and universities, he is a tough, but fair negotiator. He loves to make deals and he loves to get things done promptly.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My advice to foreign leaders is that if you have not already reached out to President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, you need to do so immediately. Trump is, at his core, a dealmaker who sees the world as a series of transactions. Based on his track record to date with foreign…
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1907821384048275964?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44635144/fridays-jobs-report-could-be-make-or-break-moment-after-trumps-tariff-shock">Friday&#8217;s Jobs Report Could Be Make-Or-Break Moment After Trump&#8217;s Tariff Shock</a>
Why It Matters: Ackman&#8217;s perspective aligns with Commerce Secretary Howard Lutnick, who said that <a href="https://www.benzinga.com/news/25/04/44630931/commerce-secretary-lutnick-says-us-markets-will-perform-extremely-well-long-term-despite-trump-tariff-selloff">the market reaction would be short-lived</a>. &#8220;I expect most countries to start to really examine their trade policy towards the United States of America,&#8221; Lutnick said, suggesting America&#8217;s trading partners would ultimately adjust their policies.
Meanwhile, billionaire Ray Dalio warned of &#8220;abrupt, unconventional changes&#8221; in markets as tariffs generate revenue for the imposing country while decreasing global efficiency and <a href="https://www.benzinga.com/general/market-summary/25/04/44623855/ray-dalio-warns-of-abrupt-unconventional-changes-in-markets-heres-how-the-tariff-machine-affects-currency-monetary-and-fiscal-policies">creating stagflationary pressures</a>.
China has <a href="https://in.benzinga.com/news/global/25/04/44620889/trumps-liberation-day-tariffs-roil-markets-as-china-slams-typical-unilateral-bullying-asian-markets-plunge">already threatened countermeasures</a>, calling Trump&#8217;s actions &#8220;typical unilateral bullying.&#8221; 
Ackman concluded his message with stark advice: &#8220;Countries that respond with additional tariffs on our goods will be severely punished. The carrot and the stick writ large, Big Boy style&#8230; Just pick up the phone. Call the President, and make a deal.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/personal-finance/25/04/44632423/kevin-o-leary-says-by-33-you-should-have-100000-saved-somewhere-thats-the-age-when-its-really-time-to-start-getting-focused">Kevin O&#8217; Leary Says By 33, You Should Have $100,000 Saved &#8216;Somewhere&#8217; — &#8216;That&#8217;s the Age When it&#8217;s Really Time to Start Getting Focused</a>&#8216;</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.

Economics

AMZN

NVDA

Bill Ackman: 'Just Pick Up The Phone'—Says Trump Will Reward Early Dealmakers, Punish Foreign Tariff Retaliation

Editor&#8217;s Note: A typographical error in the headline of this story has been corrected.
Cryptocurrency bettors sharply upped the odds of a U.S. recession Thursday following President Donald Trump's worse-than-expected "Liberation Day" tariff rollout.
What happened: The odds in favor of the betting <a href="https://polymarket.com/event/us-recession-in-2025">contract</a> titled "US recession in 2025?" shot up from 46% to 54% in the last 24 hours on Polymarket. A week ago, the likelihood of this happening was 38%.
Over $1 million has already been wagered on the outcome on the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based prediction platform. This market will resolve to &#8220;Yes&#8221; if the National Bureau of Economic Research declares a recession in the U.S. before January 1, 2026.&nbsp;
Alternatively, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP is negative for two consecutive quarters, the condition will be met.
Note that Polymarket is not available to<a href="https://www.benzinga.com/24/11/41838037/will-polymarket-return-to-the-us-after-getting-trump-victory-right-ceo-says-its-part-of-the-plan"> U.S. residents </a>due to regulatory hurdles.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> Bitcoin Reeling From Trump&#8217;s &#8216;Liberation Day&#8217; Shock But These Gold-Backed Coins Are Killing It This Year</a>
A similar bet on the federally regulated betting platform Kalshi showed odds at 54%, up from a low of 17% in the first quarter.
<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">&#x1f6a8;Recession odds surge to 54% on Kalshi Odds were as low as 17% in Q1
&mdash; Kalshi (@Kalshi) <a href="https://twitter.com/Kalshi/status/1907798175387148634?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The stock market <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44640359/bitcoin-ethereum-steady-dogecoin-falls-as-trump-trade-moves-crash-stocks-why-arthur-hayes-be">got a hammering Thursday </a>after Trump announced sweeping tariffs, including a universal 10% tariff on all imports starting April 5. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), however, held steady during the day.
Financial services giant JPMorgan <a href="https://in.benzinga.com/25/04/44608617/jp-morgan-hikes-us-recession-odds-to-40-tariffs-create-a-dilemma-for-the-fed">placed the risk</a> of a U.S. recession at 40%, up from 30%, largely due to Trump's trade policies.
Influential economist Justin Wolfers also chimed in, stating, "The chance of a 2025 recession have risen enormously. (And pointlessly.)
<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">Lemme lay down a marker: The chance of a 2025 recession have risen enormously. (And pointlessly.)
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1907823930963882106?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44620779/onlyfans-founders-startup-and-hbar-foundation-enter-the-race-to-acquire-tiktok-us-to-maintain-american-ownership-and-governance">OnlyFans Founder&#8217;s Startup And HBAR Foundation Enter Race To Acquire Tiktok To Maintain &#8216;American Ownership And Governance&#8217;</a></li>
</ul>

$POL

Recession In 2025? Crypto Bettors Now See Over 50% Probability After Trump's Sweeping Tariff Rollout (CORRECTED)

Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is reportedly set to acquire a 20% stake in a new joint venture with Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), aimed at addressing the <a href="https://in.benzinga.com/markets/equities/25/03/44271204/tsmc-proposes-joint-venture-with-nvidia-amd-and-broadcom-to-operate-intels-factories-report">U.S. chipmaker's ongoing struggles</a>, including its $18.8 billion net loss in 2024.
What Happened: Intel and TSMC have reached a preliminary agreement to form a joint venture that will take over the operations of Intel's manufacturing facilities, reported Reuters <a href="https://www.theinformation.com/articles/intel-tsmc-tentatively-agree-form-chipmaking-joint-venture">via</a> The Information. 
TSMC, the world's largest contract chipmaker, will hold a 20% stake in the new venture, the report noted.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/04/44620411/mark-zuckerberg-led-meta-set-to-face-truth-at-senate-hearing-over-china-operations-and-communist-party-censorship-efforts" target="_blank" rel="noreferrer noopener">Mark Zuckerberg-Led Meta Set To Face ‘Truth' At Senate Hearing Over China Operations And Communist Party Censorship Efforts</a>
Why It Matters: The deal <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43638878/intel-shares-are-up-today-whats-going-on">comes amid pressure</a> from U.S. government officials, including the White House and the Commerce Department, who have pushed both companies to resolve Intel's ongoing manufacturing and customer service challenges. Intel has struggled to manufacture chips for external clients, which has led to delays and failed tests.
Earlier this year, <a href="https://www.benzinga.com/tech/25/03/44298588/lip-bu-tan-got-high-praise-from-tsmc-founder-morris-chang-for-saving-cadence-from-pretty-big-trouble-will-the-magic-work-at-the-new-intel">Intel appointed chip industry</a> veteran Lip-Bu Tan as its CEO to spearhead its revival efforts. Despite these challenges, TSMC has been active in the U.S., with plans for a $100 billion investment in new chip facilities over the next few years.
The new CEO has been <a href="https://in.benzinga.com/25/03/44555938/intels-new-ceo-refuses-to-sugarcoat-the-companys-2024-performance-vows-to-align-spending-with-market-demand">candid about the company&#8217;s challenges</a>, emphasizing the need to align spending with market demand.
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.
Previously, it was reported that the joint venture, which <a href="https://www.benzinga.com/markets/equities/25/03/44271204/tsmc-proposes-joint-venture-with-nvidia-amd-and-broadcom-to-operate-intels-factories-report">could see other companies</a> like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) take stakes, is part of a broader strategy to turn around Intel's fortunes after the company reported a significant loss in 2024.
Meanwhile, TSMC&#8217;s expansion in the U.S. has reportedly raised concerns in Taiwan about the <a href="https://in.benzinga.com/markets/25/03/44486436/tsmcs-165-billion-bet-on-us-chip-manufacturing-raises-alarms-in-taiwan-amid-china-threat-experts-warn-taipei-must-plan-beyond-its-silicon-shield">potential risks associated</a> with such a significant investment abroad.
Price Action: TSMC shares are down 11.55% year-to-date, while Intel has gained 10.93% over the same period. However, over the past 12 months, TSMC is up 20.31%, whereas Intel has plunged 44.38%, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
According to Benzinga's Edge Rankings, Intel holds a growth rating of 3.47%. Curious how TSMC stacks up? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see the full comparison</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/INTC"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03220359/Screenshot-2025-04-04-at-7.33.49%E2%80%AFAM.png" alt="" class="wp-image-856617" /></a></figure>
Photo by Sundry Photography on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's ‘Prudent And Deliberate' Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

AVGO

INTC

TSMC Steps Up To Take 20% Stake In Joint Venture With Intel As Struggling Chipmaker Grapples With Nearly $19 Billion Losses In 2024: Report

Editor&#8217;s Note: The story has been updated to include the correct price action for Tesla stock.
The stock market experienced a <a href="https://in.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">significant downturn</a> today, with the&nbsp;S&amp;P 500&nbsp;dropping nearly 5% to 5,396.52, marking its worst session since September 2022. The&nbsp;Nasdaq&nbsp;also faced a steep decline of nearly 6% as fears of retaliatory actions from U.S. trading partners spread across markets. The tech-heavy index ended the day at 16,550.61. The Dow Jones Industrial Average dropped almost 4% to 40,545.93.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>)
RH&#8217;s stock plummeted 40.09% to close at $149.39, hitting an intraday high of $166.09 and a low of $138.40. The stock&#8217;s 52-week high and low stand at $457.26 and $138.40, respectively. The shares gained 1.9% in after-hours trading. The sharp decline followed the company&#8217;s&nbsp;<a href="https://www.benzinga.com/25/04/44626074/rh-posts-downbeat-earnings-joins-apple-tesla-nvidia-and-other-big-stocks-moving-lower-in-thursdays-pre-market-session">disappointing earnings report</a>&nbsp;for the fourth quarter, which fell short of expectations, contributing to the pre-market losses. Revenue for the period came in at $812.41 million, which missed the consensus estimate of $829.56 million.
Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>)
Five Below saw its shares fall 27.81%, closing at $58.83. The stock reached an intraday high of $65.37 and a low of $56.90, with a 52-week range of $166.55 to $56.90. The retail sector, including Five Below, was heavily impacted by&nbsp;President Donald Trump&#8217;s tariff plan, which <a href="https://in.benzinga.com/news/global/25/04/44632479/retail-stocks-slammed-as-trumps-tariff-plan-sends-shockwaves-through-sector">sent shockwaves</a> through the market, leading to a sell-off.
Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>)
Sangamo Therapeutics&#8217; stock declined 4.73% to $0.62, with an intraday high of $0.64 and a low of $0.58. The stock&#8217;s 52-week high and low are $3.18 and $0.30, respectively. Despite the day&#8217;s decline, the stock surged 47.7% to $0.92 in after-hours trading due to a&nbsp;<a href="https://in.benzinga.com/general/biotech/25/04/44636945/sangamo-therapeutics-stock-surges-after-the-bell-whats-going-on">new agreement</a> with Eli Lilly, granting a worldwide exclusive license for its proprietary technology.
Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)
Bank of America&#8217;s shares dropped 11.06%, closing at $37.22. The stock&#8217;s intraday high was $38.84, with a low of $37.02, and a 52-week range of $48.08 to $34.15. The bank&#8217;s stock was hit hard by&nbsp;<a href="https://www.benzinga.com/news/25/04/44627173/whats-going-on-with-bank-of-america-bac-shares-15">trade tensions</a>&nbsp;and fears of an economic downturn, which threaten its key revenue drivers.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock fell 5.47% to $282.76, reaching an intraday high of $284.99 and a low of $251.27. The stock&#8217;s 52-week high and low are $488.54 and $138.80. Despite the overall market decline, Tesla&#8217;s shares fell after the company reported a <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44635878/tesla-shares-are-falling-today-whats-going-on">weaker-than-expected performance</a> for the first quarter, with a decline in vehicle production and deliveries.
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next:&nbsp;
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44602870/anthony-scaramucci-hates-it-when-trump-pumps-his-own-coin-but-loves-the-presidents-bitcoin" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Hates It When Trump Pumps His Own Coin, But Loves The President&#8217;s Bitcoin Moves — This Complex Crypto Relationship Decoded</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>

FIVE

SGMO

TSLA

RH, Five Below, Sangamo, Bank Of America, Tesla: Why These 5 Stocks Are On Investors' Radars Amid Trump Tariff Meltdown (CORRECTED)

Leading cryptocurrencies held steady Thursday, even as President Donald Trump's tariff moves battered stock markets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.02%</td>
<td>$83,269.84</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>-0.46%</td>
<td>$1,816.44</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>-1.73%</td>
<td>$0.1629</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin dipped below $82,000 in the early trading hours but recovered to $83,000 by evening. Ethereum followed a similar U-shaped trajectory, falling to a low of $1,750 before regaining $1,800 later in the day.
Bitcoin continued to witness capital rotation away from altcoins, with its market dominance rising to 62%. In fact, CoinMarketCap's Altsoin Season Index flashed a "Bitsoin Season" as of this writing.
Nearly $247 million was liquidated from the market in the last 24 hours, with more than $170 million in upside bets wiped out.
Bitcoin's Open Interest mirrored spot price moves, marginally gaining 0.63% in the last 24 hours.
The Long/Short Ratio fell sharply, suggesting an increase in traders betting against Bitcoin's price increase.
The market sentiment improved from "Extreme Fear" to "Fear," according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Cosmos (ATOM)</td>
<td>+8.01%</td>
<td>$4.64</td>
</tr>
<tr>
<td>Curve DAO Token (CRV)</td>
<td>+5.18%</td>
<td>$0.5256</td>
</tr>
<tr>
<td>Pendle (PENDLE)</td>
<td>+3.86%</td>
<td>$3.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.67 trillion, following a decrease of 0.12% in the last 24 hours.
Stocks suffered their worst rout in more than five years. The Dow Jones Industrial Average crashed 1,679.39 points, or 3.98%, to close at 40,545.93. The S&amp;P 500 tumbled 4.84%, ending at 5,396.52. The two blue-chip averages recorded their worst single-day declines since June 2020. The tech-heavy Nasdaq Composite plummeted 5.97% to end at 16,550.61.
Thursday's sell-off came in reaction to Trump's <a href="https://www.benzinga.com/government/regulations/25/04/44618089/trumps-tariffs-surprise-triggers-carnage-magnificent-7-set-to-wipe-out-nearly-700-billion-">worse-than-expected reciprocal tariff rollout</a>, heightening fears of a full-blown trade war and economic slowdown. Spot gold eased after hitting an all-time high of $3,167.57 earlier in the day.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular blockchain analytics firm Santiment said Bitcoin was "relatively insulated" from tariff-fueled volatility due to its "intangible and borderless nature."
"Unlike traditional stocks, cryptocurrencies aren&#8217;t typically impacted by trade disruptions or international supply chain concerns triggered by political decisions," Santiment stated, while acknowledging some volatility owing to linkages to global economic health.
<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">&#x1f4c9; Following Trump&#39;s tariff announcements yesterday, the S&amp;P 500 is currently down -4.02% in Thursday trading. In the 2020&#39;s, there have only been 5 worse performing days: &#x1f5d3;&#xFE0F; March 16, 2020: -11.98%​ &#x1f5d3;&#xFE0F; March 12, 2020: -9.51%​ &#x1f5d3;&#xFE0F; March 9, 2020: -7.60%​ &#x1f5d3;&#xFE0F; June 11, 2020: -5.89%… <a href="https://t.co/TpTbYMDFZF">pic.twitter.com/TpTbYMDFZF</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1907855488014004707?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, predicted that the tariffs would be good for Bitcoin.
"Global imbalances will be corrected, and the pain papered over with printed money, which is good for BTC," Hayes said, expecting higher fiat liquidity growth in the future.
<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">Some of y&#39;all are running scurred, but I LOVE TARIFFS, some chart porn to understand why. Global imbalances will be corrected, and the pain papered over with printed money, which is good for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/jc5eZ2VIEa">pic.twitter.com/jc5eZ2VIEa</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1907961898777391323?ref_src=twsrc%5Etfw">April 4, 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:    
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<li><a href="https://www.benzinga.com/etfs/new-etfs/25/04/44633519/vaneck-moves-closer-to-us-binance-coin-etf-but-will-the-sec-play-ball">VanEck Moves Closer To US Binance Coin ETF — But Will The SEC Play Ball?</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$ETH

Bitcoin, Ethereum Steady, Dogecoin Falls As Trump Trade Moves Crash Stocks: Why Arthur Hayes Believes Tariffs Will Be Good For BTC

Economist Peter Schiff warned on Thursday that Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) won&#8217;t shift production to the United States despite newly imposed tariffs, predicting higher prices and <a href="https://www.benzinga.com/25/04/44629275/nike-stock-is-tumbling-thursday-heres-why">reduced domestic sales for the footwear giant</a>.
What Happened: &#8220;Nike won&#8217;t build factories in the U.S. to make sneakers. That would add more cost than the 40% tariffs,&#8221; Schiff wrote on X. &#8220;The result will be fewer sneakers sold in the U.S. at much higher prices.&#8221;
When questioned whether Nike might absorb tariff costs while building domestic factories, Schiff dismissed the idea, suggesting the company would instead redirect products: &#8220;They will eventually sell more sneakers to consumers in other countries instead, as they buy what Americans can no longer afford.&#8221;
The comments come as Nike shares plummeted 14.44% on Thursday after President Donald Trump announced sweeping reciprocal tariffs affecting the company&#8217;s supply chain. Vietnam, where <a href="https://www.benzinga.com/25/04/44629275/nike-stock-is-tumbling-thursday-heres-why">Nike produces nearly 50% of its footwear</a>, faces a 46% tariff increase.
<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">Nike won&#39;t build factories in the U.S. to make sneakers. That would add more cost than the 40% tariffs. Plus, they need to stay competitive selling to customers in other countries that don&#39;t impose tariffs. The result will be fewer sneakers sold in the U.S. at much higher prices.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1907812445260800264?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<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">Why, they will still sell sneakers at higher prices in the U.S. The sneakers they don&#39;t sell in the U.S. they will sell to consumers in other countries instead, like China. That&#39;s a much better strategy.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1907815526027448587?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03220426/Screenshot-2025-04-04-at-7.33.26%E2%80%AFAM-1024x657.png" alt="" class="wp-image-856620" style="width:912px;height:auto" /><figcaption class="wp-element-caption">Nike&#8217;s revenue worldwide in million U.S. dollars from the fiscal years of 2017 to 2024, by region— Source: Statista</figcaption></figure>
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44635144/fridays-jobs-report-could-be-make-or-break-moment-after-trumps-tariff-shock">Friday&#8217;s Jobs Report Could Be Make-Or-Break Moment After Trump&#8217;s Tariff Shock</a>
Why It Matters: Goldman Sachs identified Nike among <a href="https://www.benzinga.com/25/04/44634737/retailers-brace-for-higher-costs-as-us-tariff-rates-soar-says-goldman-sachs">several retailers with high exposure to the new tariffs</a>, which include a 34% rate for China and 32% for Indonesia, both key manufacturing locations for the company.
The broader market experienced significant turmoil following the tariff announcement, with Wall Street losing <a href="https://www.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">approximately $2 trillion in market value</a>. 
Consumer discretionary <a href="https://www.benzinga.com/25/04/44634737/retailers-brace-for-higher-costs-as-us-tariff-rates-soar-says-goldman-sachs">stocks were particularly hard hit</a>, with Nike&#8217;s competitors also suffering substantial losses—Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) fell 9.28%, and Adidas shares declined on its 39% Vietnamese manufacturing exposure.
Analysts warn that brands will need to adjust pricing, negotiate with vendors, and optimize costs to protect margins. Wedbush Securities analyst Dan Ives called the tariffs &#8220;worse than the worst case scenario,&#8221; with particular concern about the China and Taiwan tariffs&#8217; <a href="https://www.benzinga.com/25/04/44629275/nike-stock-is-tumbling-thursday-heres-why">impact on supply chains and demand</a>.
Nike lags behind Lululemon, Columbia Sportswear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLM#NASDAQ">COLM</a>), Under Armour (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>), Skechers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>), VF Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>), and On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>), struggling with negative growth and momentum. Benzinga Edge Stock Ranking also indicates a bearish price trend for Nike across short- and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Sign up to learn more</a>.
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

COLM

LULU

ONON

Peter Schiff Says Nike 'Won't Build Factories' In US, They Will Sell To Countries Like China: A Much Better Strategy Amid Trump Tariffs

Inheriting a substantial sum of <a href="https://in.benzinga.com/personal-finance/25/02/43995980/self-made-millionaire-warns-90-of-people-are-throwing-away-money-on-this-expense">money</a>, especially within tax-advantaged accounts like individual retirement accounts, can be both a godsend and a financial challenge.
Many beneficiaries face the decision of whether to withdraw the money as a lump sum, reinvest for higher yields, or consider a more conservative strategy to reduce taxes, especially since beneficiaries need to withdraw all the money in 10 years. For those thinking about <a href="https://www.benzinga.com/personal-finance/24/11/41867042/the-worst-idea-ive-ever-heard-in-my-life-suze-orman-responds-to-listener-about-selling-everything-within-ira-and-reinvesting">reinvesting</a> inherited funds, the main questions circle around tax efficiency, long-term growth, and how much cash they need at hand.
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This is what a couple with a $600,000 portfolio and two inherited individual retirement accounts, one worth $500,000 and the other worth $400,000, is faced with. They want to keep the $400,000 in a money market fund for emergency liquidity but wonder if this is a good move, and are also contemplating taking a lump-sum withdrawal to reinvest for a higher yield but are uncertain about the tax implications.
&#8220;My husband and I would really like to (and I have no idea if this is possible) roll one of them into a money market fund where we bank just for more easily accessed emergency funds. Is this a thing? Would you do it? Is it crazy to take a lump sum and invest it somewhere with a slightly higher yield? I know it's better to use the market funds but we consider the $400,000 to be sort of a bonus and want to keep our stocks and bonds,&#8221; the poster wrote.
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
The Reddit community in which the investor posted her concerns has come up with plenty of advice and suggestions, so let&#8217;s analyze those.
<h2 class="wp-block-heading">Should They Invest $400,000 In High-Yield Assets? Reddit Debates Their Plan</h2>
Avoid Lump-Sum Withdrawals Due to Tax Consequences
Several commenters cautioned against withdrawing the whole sum from the inherited individual retirement accounts at once because of the steep tax effects. Instead, they suggested spreading out withdrawals over the 10 years to reduce tax drawbacks.
&#8220;I wouldn&#8217;t take the lump sum as that&#8217;s going to result in a huge increase in your taxable income for the year. You have 10 years to empty the account. Keep taking a portion of it each year to minimize the tax liability,&#8221; a commenter recommended.
A Redditor mentioned that the poster can adjust investments within the individual retirement account without paying taxes.
&#8220;You should be able to change the investments in the individual retirement account if you want something more aggressive without withdrawing the funds. You will have to empty the accounts within 10 years. If you keep the money in the accounts, withdrawing a percentage every year, it can continue to grow without the heavy tax burden all at once,&#8221; he wrote.
See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>
Invest in Low-Cost, Broad Market ETFs
Many Reddit users advised the couple to consolidate the inherited investment retirement accounts at a well-known brokerage and allocate funds to liquid assets and growth-focused investments.
&#8220;I would consolidate the inherited investment retirement accounts (assuming they can be combined) into a single inherited investment retirement account at a major brokerage, such as Fidelity (or Vanguard or Schwab). There, you can invest a portion into a [money market fund] or perhaps a [certificates of deposit] ladder to receive a bigger premium than what your local bank offers. The remaining amount within the inherited investment retirement account can be invested in a broad, low-cost ETF,&#8221; a piece of advice reads.
Sharing a growth strategy, this commenter mentioned that growth assets can compound inside the investment retirement account: &#8220;You could place that money in broad index funds and enjoy the growth as you remove it bit by bit. Even then, you could be padding an emergency [money market fund] in your own taxable brokerage while benefiting from the growth on the lump sum.&#8221;
&#8220;While inherited investment retirement accounts generally cannot be rolled into a money market fund directly, you may be able to allocate the funds within the inherited investment retirement account to a [money market] fund offered by the investment retirement account custodian,&#8221; a Redditor suggested.
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Personal Finance

Couple With $1.5M And 2 Inherited IRAs Asks Reddit: 'Is It Crazy to Take a Lump Sum and Invest It Somewhere With a Slightly Higher Yield?'

President Donald Trump is facing a lawsuit over the 20% tariffs imposed on Chinese goods. This marks the first known legal challenge against these tariffs.
What Happened: The lawsuit, filed on Thursday, challenges Trump&#8217;s use of the International Emergency Economic Powers Act of 1977, <a href="https://thehill.com/homenews/5231388-trump-sued-over-china-tariffs/">reported</a> The Hill. It argues that while the IEEPA allows for asset freezes and economic sanctions, it does not authorize tariffs. The lawsuit claims, "Congress passed the IEEPA to counter external emergencies, not to grant presidents a blank check to write domestic economic policy."
The New Civil Liberties Alliance filed the lawsuit on behalf of Simplified, a Florida-based small business that sells planners and sources products from China. The suit, filed in federal court in Pensacola, Florida, seeks a judicial declaration that the tariffs are unlawful and requests their enforcement be halted.
Initially, Trump imposed a 10% tariff on Chinese goods via an executive order on February 1, which was doubled to 20% on March 3. This was followed by a broader announcement introducing a 10% general tariff on U.S. imports and higher rates for several countries, including an additional 34% tariff on China, culminating in a total of 54%.
See Also: <a href="https://benzinga.com/news/25/03/44575557/mark-cuban-says-if-they-replaced-elon-musk-with-him-hes-still-try-to-make-government-smaller-by-cutting-a-lo" target="_blank" rel="noreferrer noopener">Mark Cuban Says, If They Replaced Elon Musk With Him, He&#8217;s Still Try to Make Government Smaller By &#8216;Cutting A Lot Of People&#8217;</a>
Why It Matters: The tariffs have sparked <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44626421/trumps-reign-of-tariffs-unleashes-d-day-on-wall-street-analyst-warns-of-stagflation-risk">significant concern</a> among economists and market analysts. According to Ed Yardeni, president of Yardeni Research, the sweeping tariffs could lead the U.S. economy toward stagflation, a scenario characterized by stagnant growth and rising inflation. 
This sentiment was echoed by Larry Summers, former Treasury Secretary, who compared the tariffs&#8217; impact to an &#8220;oil crisis-like shock,&#8221; <a href="https://www.benzinga.com/markets/25/04/44623179/larry-summers-warns-trumps-tariffs-will-deliver-oil-crisis-like-shock-slash-30-trillion-from-economy-as-markets-plunge">potentially slashing $30 trillion</a> from the economy.
Additionally, the tariffs have heightened the risk of retaliatory measures from major trading partners. Speculators have already begun pricing in the likelihood of increased retaliatory tariffs, as noted by <a href="https://in.benzinga.com/top-stories/25/04/44627817/retaliation-odds-spike-after-trumps-heavy-tariffs-sending-country-etfs-tumbling">recent trading activity</a> on the CFTC-regulated prediction platform Kalshi.
U.S. stocks tumbled after the tariffs were announced, with the Dow Jones Industrial Average dropping 4% to close at 40,545.93 on Thursday. The S&amp;P 500 slid 5% to 5,396.52, while the tech-heavy Nasdaq suffered the steepest losses, plunging nearly 6% to 16,550.61.
Image via Shutterstock
Did You Know?
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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>

Politics

General

Trump Gets Sued Over China Tariffs: Congress Did Not Grant Presidents 'Blank Check To Write Domestic Policy'

Ever feel like your to-do list has a mind of its own? Melinda French Gates has a solution, and it&#8217;s surprisingly simple: start saying no. It turns out that Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) CEO <a href="https://www.benzinga.com/startups/25/02/43466203/warren-buffetts-127-billion-stock-sell-off-sends-wall-street-a-stark-warning-for-2025-below-average-returns-ahead">Warren Buffett</a> gave her this advice years ago, and it has been a game-changer ever since.
<h2 class="wp-block-heading">The Billionaire Rule for Getting More Done</h2>
French Gates, co-chair of the Bill &amp; Melinda Gates Foundation, recently shared this golden nugget of wisdom on a recent LinkedIn&#8217;s podcast, &#8220;<a href="https://podcasts.apple.com/us/podcast/melinda-french-gates-on-owning-your-power-and-leading/id1453893304?i=1000699461420">Hello Monday</a>.&#8221;&nbsp;
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&nbsp;&#8220;When we created our foundation, Buffett told us, &#8216;Know where your bullseye is. If you keep your eye on your target, you&#8217;ll focus on what matters most.&#8217; I&#8217;m grateful to Warren for his friendship, wisdom, and support,&#8221; she said. In other words, stop trying to do everything—zero in on what truly matters.
This isn&#8217;t just self-help talk. A marketing leader, certified executive coach, and founder of Cove &amp; Compass,<a href="https://www.lauranguyen.co/blog/why-establishing-boundaries-is-essential-for-protecting-your-time-in-2025"> Laura Nguyen</a> emphasizes setting clear boundaries, especially in the digital world where constant availability consumes most of our time. That&#8217;s the work-life balance jackpot.&nbsp;
Buffett has lived by this principle for decades. Back in 2014, he shared his famous &#8220;two-list&#8221; strategy with his pilot, Mike Flint. The trick? Write down 25 career goals, pick the five most important, and ignore the rest completely. The idea is that half-committing to everything leaves you fully committed to nothing.
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Not everyone thinks saying no is the magic solution. TV producer Shonda Rhimes—the mastermind behind "Grey&#8217;s Anatomy"—went viral for her &#8220;Year of Yes&#8221; philosophy. Ten years later, she offers a candid<a href="https://www.youtube.com/watch?v=CGCZadtBSR4"> review</a> of her bold decision.&nbsp;
&#8220;Ten years ago, I had this epiphany that I would spend a year saying yes to everything that scared me. The very act of doing the thing that scared me undid the fear. It&#8217;s amazing how powerful one word can be. &#8216;Yes&#8217; changed my life; &#8216;Yes&#8217; changed me.&#8221;&nbsp;
On the flip side, productivity expert Tim Ferriss has built an entire brand on the idea of selective no&#8217;s. He frequently talks about the 80/20 rule, which suggests that 80% of success comes from just 20% of efforts. If that&#8217;s true, cutting out the distractions could be the key to leveling up. One way of cutting such distractions is by learning to say no.&nbsp;
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<a href="https://tim.blog/2025/01/13/the-no-book/">An excerpt introducing his book</a>, "The No Book" published on his blog, says, &#8220;The goal of life is to make good decisions. And decisions are the simplest thing in the world. They consist of a single choice between &#8221; yes &#8221; &#8221; or &#8221; no.&#8221; Tim recommends saying no to help set clear boundaries and eliminate distractions.
Author James Clear summed it up perfectly in a <a href="https://x.com/jamesclear/status/956172562756722690">post on X:</a> When you say no, you only say no to one option. When you say &#8216;yes,&#8217; you say &#8216;no&#8217; to every other option. &#8216;No&#8217; is a decision. &#8216;Yes&#8217; is a responsibility. Be careful what (and to whom) you say &#8216;yes&#8217;. It will shape your day, career, family, and life.&#8221;
Historically, some of the world&#8217;s most successful people have followed Buffett&#8217;s strategy. According to <a href="https://www.entrepreneur.com/business-news/how-jony-ive-helped-saved-apple-from-bankruptcy-in-the-1990s/487599">Entrepreneur</a>, Steve Jobs tasked the Apple's vice president of industrial design at the time, Jony Ive, with creating the iMac, a user-friendly and visually appealing computer, upon returning to the company in 1997.&nbsp;
This strategic focus on simplifying the product lineup and emphasizing design innovation was instrumental in revitalizing <a href="https://www.benzinga.com/news/25/03/44109824/apples-500b-u-s-investment-analyst-calls-it-completely-unrealistic-questions-where-the-money-will-come-from">Apple </a>and steering it away from bankruptcy
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Melinda French Gates Says This Lesson From Warren Buffet Was Life Changing

Most people think building a nest egg is the hard part. But according to billionaire BlackRock CEO Larry Fink, the real challenge is what comes after.
"When we took the average of the responses, it was just over $2 million—$2,089,000, to be exact," Fink wrote in his <a href="https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter">2025 annual letter to investors</a> earlier this week. "That's a lot. More than I was expecting. And almost no one is close."
The number came from a January survey BlackRock conducted, asking Americans how much they thought <a href="https://www.benzinga.com/personal-finance/24/08/40465160/think-youre-saving-enough-heres-what-the-top-10-have-saved-for-retirement">they'd need to retire comfortably</a>. The average response? Over $2 million.
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Now pause for a second. Here's what people actually have. A 2024 <a href="https://news.prudential.com/latest-news/prudential-news/prudential-news-details/2024/2024-Pulse-of-the-American-Retiree-Survey/default.aspx">survey from Prudential</a> found that Gen Xers have a median of just $47,950 saved.&nbsp;
And it gets worse. A 2023 study from the <a href="https://www.nirsonline.org/2023/07/new-report-finds-alarming-retirement-outlook-for-generation-x-3/">National Institute on Retirement Security</a> found the typical Gen X household had just $40,000 in retirement savings. While the average balance reported in a <a href="https://www.bankrate.com/investing/survey-young-americans-optimistic-retirement/">Bankrate survey</a> is $153,300, that figure is often skewed by higher earners with large accounts.&nbsp;
So when Fink says, "That's a lot… and almost no one is close," he's not exaggerating. <a href="https://www.benzinga.com/personal-finance/24/08/40561911/gen-x-is-so-unprepared-for-retirement-theyre-being-called-silver-squatters-because-1-in-5-are-co">Even older Gen-Xers</a>, now just a few years from retirement, are falling short. As Fink noted, 62% have saved less than $150,000.
"We're going to need better ways to boost portfolios," he said. One option? Private assets—like real estate and infrastructure—which Fink says have long helped pension funds outperform traditional 401(k)s. On average, pensions earn about 0.5% more per year than 401(k)s, thanks in part to those asset classes.
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"Half a percent doesn't sound huge," Fink explained. "But over 40 years, it adds up. An extra 0.5% in annual returns results in 14.5% more money in your 401(k)." That's the difference between scraping by and retiring on your own terms—or as Fink put it, "nine extra years hanging out with your grandkids."
But while pensions have embraced private assets for decades, most 401(k)s still haven't.&nbsp;
Fink blames unfamiliarity, rigid plan structures, and a lingering perception that these investments are too opaque or illiquid.
"When you invest in private assets—like a bridge, for example—you can't withdraw your money whenever you want," he said. "It's a bridge, after all—not a stock."
Fink believes that's starting to change. BlackRock has been working to bring more transparency and liquidity to these markets, and his firm recently introduced LifePath Paycheck—a product that converts 401(k) savings into reliable monthly income.
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
In just one year, it's been adopted by six plan sponsors representing 200,000 retirement savers. But Fink isn't ready to declare victory.&nbsp;
"The problem will only get harder and nastier," he warned, "as the oldest Gen-Xers start to retire."
That echoes economist Bill Sharpe, who famously called the drawdown phase of retirement—the part where you have to figure out how to make your money last—as "the nastiest, hardest problem in finance."
People with pensions don't worry about this. They get a steady monthly check. But 401(k) savers? They're handed a lump sum and told to make it last—without knowing how long they'll live or what unexpected costs might pop up.
Even people who've saved well often play it too safe, afraid to spend. They delay joy. They downsize dreams. And now, with $2 million as the <a href="https://www.benzinga.com/money/smartasset">new retirement benchmark</a>, the fear is only growing.
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'That's a Lot' — Billionaire BlackRock CEO Larry Fink Says People Need $2.08 Million to Retire Comfortably, But 'Almost No One Is Close'

Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has outperformed the market over the past 10 years by 15.12% on an annualized basis producing an average annual return of 25.06%. Currently, Amazon.com has a market capitalization of $1.88 trillion. 
Buying $1000 In AMZN: If an investor had bought $1000 of AMZN stock 10 years ago, it would be worth $9,530.19 today based on a price of $178.40 for AMZN at the time of writing.
<h3>Amazon.com's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743720310_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 10 Years Ago, You Would Have This Much Today

Anyone following <a href="https://www.benzinga.com/topic/mlb">Major League Baseball</a> in the 2025 season has heard about torpedo bats, a new trend of bats that have seen impressive results for those using them.
A deep dive into legal bats shows soaring demand and a public company that gives investors exposure to the latest hitting trend.
What Happened: The New York Yankees lost the<a href="https://www.benzinga.com/general/sports-betting/24/10/41521768/world-series-yankees-dodgers-showdown-could-boost-fox-betting-odds-how-to-watch-matchup-of"> 2024 World Series,</a> but if early results for the 2025 season are any indication, the team may be back with a vengeance.
The Yankees are currently 3-2 on the season and the team&#8217;s run differential of +19 ranks third best in the league behind the undefeated Los Angeles Dodgers (+22, 8-0) and San Diego Padres (+25, 7-0) which have played more games than them.
Through the first four games of the season, the Yankees had 18 home runs, breaking an MLB record for the first four games of any season. The team also had nine players hit home runs in the stretch and three players hit at least three home runs in the stretch, MLB firsts, as reported by <a href="https://www.cnn.com/2025/04/02/sport/yankees-home-run-record-torpedo-bats-spt/index.html">CNN</a>.
Helping the Yankees make history could be torpedo bats, a newer customized bat that is shaped like a torpedo and allocates extra wood to each hitter's "sweet spot."
The bats are legal as they fall within length and wood requirements and are made by an MLB-approved manufacturer.
Among the Yankees players using the bats are Anthony Volpe, Jazz Chisholm Jr., Cody Bellinger and Paul Goldschmidt.
"I don't know the science of it… I think I still hit the ball the same, like, exit velocity as I always did. I just feel like it gives you a feeling of — just feeling like you have more to work with," Chisholm Jr. said, as reported by <a href="https://www.cnn.com/2025/03/31/sport/torpedo-bats-mlb-yankees-explained-spt/index.html">CNN</a>.
The bats were developed by former MIT physicist Aaron "Lenny" Leanhardt, who spent time with the Yankees organization and is now a staff member for the Miami Marlins.
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The Winning Company? While the big question will be if torpedo bats continue to see demand from MLB players and other baseball players, one company is already seeing increasing sales.
Victus president Jared Smith told <a href="https://www.cllct.com/sports-collectibles/memorabilia/swing-like-the-pros-torpedo-bats-now-available-for-anyone-to-order">cllct </a>that he has not seen demand like the torpedo bat in his 15 years in the industry.
"Of course, we are going to lean into it," Smith told cllct.
Smith said the Yankees and Baltimore Orioles are among the teams that have tested torpedo bats in the company's bat lab.
Smith said the question is how long the demand will last.
"It will definitely be here for good now. I'm not sure if it will take over the league or it will just be a fad."
Victus is <a href="https://ir.compassdiversified.com/news-releases/news-release-details/compass-diversified-completes-sale-marucci-sports">owned </a>by Fox Factory Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXF#NASDAQ">FOXF</a>), a company known better for its bikes.
"The Torpedo has definitely achieved cool status," Smith added.
Fox Factory's business lines are predominantly bicycles, on-road and off-road vehicles, side-by-side vehicles, all-terrain vehicles and vehicle products. The company acquired Marucci and Victus, two baseball equipment makers, in 2023. The companies are the makers of the official bats for Major League Baseball. 
&#8220;Torpedo Shape. Victus Built. Get your hands on the most talked-about bat in the game,&#8221; Victus&#8217; <a href="https://victussports.com/">website </a>reads. 
Fox Factory's fourth-quarter financial <a href="https://investor.ridefox.com/press-releases/news-details/2025/Fox-Factory-Holding-Corp.-Reports-Fourth-Quarter-Fiscal-2024-Financial-Results/default.aspx">results </a>saw the company's Specialty Sports Group post a 33.3% year-over-year increase in net sales helped by the acquisition.
The next quarterly results from Fox Factory could show if there was an immediate impact for this business segment thanks to torpedo bats. The company commentary could also highlight if it is boosting guidance for the sports segment.
Why It's Important: Sports leagues evolve and new technology often makes players and teams better, which sometimes can break records and also create a more enjoyable experience for fans.
Betting on players to hit home runs has become a top bet for sportsbooks for the MLB season. Both DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) and Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) -owned FanDuel are leaning into the torpedo bats. Each sportsbook has sections featuring players who have used torpedo bats during the season.
On DraftKings, bettors can easily place wagers on the players using torpedo bats to hit a home run, get an RBI or hit a double. It&#8217;s not just Yankees players who are using the torpedo bats either.
Some players and baseball fans are skeptical of the torpedo bats and while legal, question the integrity of those using them.
"It's about fairness and equality," Barstool Sports founder Dave Portnoy <a href="https://www.foxbusiness.com/media/dave-portnoy-slams-yankees-torpedo-bats-warns-infiltrating-sacred-game-baseball">said </a>in a recent interview.
Portnoy said his hatred of torpedo bats is not about his dislike for the Yankees, but instead for the integrity of the game.
As long as MLB players keep hitting home runs with torpedo bats, the newer hitting tool will likely be a trending topic in baseball. 
FOXF Price Action: Fox Factory stock closed Thursday down 15.92% at $20.91 versus a 52-week trading range of $20.78 to $54.86, hitting new yearly lows on Thursday. The stock is down 25.6% year-to-date and over 50% over the past year.
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Photo: Elliott Cowand Jr, Shutterstock.com

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Torpedo Bats Take Over MLB, Sportsbooks: Public Company Sees Soaring Demand For Home Run Hitting Baseball Bat

<ul>
<li>BlackRock CEO Larry Fink has warned that Bitcoin could usurp the U.S. dollar.</li>
<li>Fink has sounded the alarm on U.S. debt.</li>
<li>Ironically, some also see Bitcoin as the solution to the U.S.&#8217;s problems.</li>
</ul>
BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) CEO Larry Fink has joined the chorus of voices warning that the U.S. dollar&#8217;s reserve currency status is at risk. Unlike most, however, he has gone one step further to suggest a likely replacement: Bitcoin.
<h2 class="wp-block-heading">Why BlackRock&#8217;s Larry Fink Thinks Bitcoin Might Usurp The Dollar</h2>
Fink <a href="https://www.blackrock.com/corporate/literature/presentation/larry-fink-annual-chairmans-letter.pdf">warned</a> in his annual letter on Monday to investors that Bitcoin could replace the U.S. dollar as the world&#8217;s reserve currency.
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While much of the recent concern around the dollar&#8217;s reserve status has been triggered by President <a href="https://www.benzinga.com/markets/equities/25/03/44554008/wall-street-on-edge-futures-slide-ahead-of-trumps-liberation-day-tariff-shock">Donald Trump&#8217;s tariff policy</a>, Fink pointed to the U.S.&#8217;s ballooning national debt as the primary concern.
At the time of writing, this debt stands at over $36 trillion and, according to Fink, is growing at an unsustainable rate.
Specifically, Fink lamented that the national debt has grown three times the U.S. GDP since 1989, with interest payments at $952 billion set to surpass defense spending this year. He also argued that government spending and debt servicing were on pace to surpass all government revenue by 2030, creating a permanent deficit.
&#8220;If the U.S. doesn&#8217;t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin,&#8221; he wrote.
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
Nonetheless, Fink stressed that his warning wasn&#8217;t meant to be missive against digital assets.&nbsp;
&#8220;I&#8217;m obviously not anti-digital assets (far from it; see the next section). But two things can be true at the same time: Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America&#8217;s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar,&#8221; he wrote.
Indeed, Fink has become <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43150952/blackrock-ceo-larry-fink-says-bitcoin-could-rise-to-700000-on-fiat-fears-if-youre-frightened-of-the-debasement">a vocal proponent of Bitcoin</a> over the past year, especially since BlackRock launched a spot Bitcoin exchange-traded fund. This fund is the largest Bitcoin ETF in the world, with $48 billion in assets under management at the time of writing.
BlackRock has also dived headfirst into tokenization, with <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44473477/blackrock-brings-tokenized-money-market-fund-buidl-to-solana">its tokenized money market fund BUIDL</a> spread across seven blockchains and boasting over $1.7 billion in assets under management. In Fink&#8217;s latest annual letter to investors, he tipped tokenization to do for finance what email did for communication.
Fink&#8217;s recent statements come as, perhaps ironically, some have tipped Bitcoin as the solution to the U.S.&#8217;s rising debt problem.
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<h2 class="wp-block-heading">Is A Bitcoin Strategic Reserve The Answer?</h2>
Strong Bitcoin, supporters such as Sen. Cynthia Lummis (R-WY) and Strategy. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Chair <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44274267/michael-saylors-bitcoin-superpower-strategy-could-it-generate-106-trillion-for-the-us">Michael Saylor have argued</a>, that the U.S. can tackle its debt problem by accumulating the leading cryptocurrency.
The argument is based on the belief that Bitcoin will eventually soar to over seven figures, and with a large enough stash, the U.S. can leverage it to neutralize debt and attract capital.
It is an idea that Trump also flirted with on the campaign trail, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40983160/donald-trump-sees-good-future-for-crypto-suggests-it-could-help-pay-off-35-trillion-nation">asserting in September</a> that perhaps the U.S. could pay off its debt in crypto.
While economists debate whether this is feasible, Trump already appears to have taken the first step in line with this Bitcoin strategy <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">by establishing a U.S. reserve</a> through an executive order.
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BlackRock's Larry Fink Warns Dollar Risks Losing Reserve Currency Status To Bitcoin

The New York Mets have started the 2025 <a href="https://www.benzinga.com/topic/major-league-baseball">Major League Baseball </a>season with a 3-3 record. Investors could soon be rooting for the team to hit the 100-win milestone thanks to a new multimillion-dollar sponsorship.
What Happened: Trading platform moomoo <a href="https://www.globenewswire.com/news-release/2025/04/03/3055569/0/en/Moomoo-and-the-NY-Mets-Announce-Strategic-Partnership-to-Elevate-Fans-Experience-to-the-Next-Level.html">announced </a>a new strategic partnership with the Mets on Thursday that could award one lucky customer $1 million.
The trading platform, which is owned by Futu Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), will have permanent and rotational signage at CitiField during Mets games, including on the moomoo bullpen.
To celebrate the partnership, moomoo is offering cash prizes for customers based on the number of wins the Mets reach in the 2025 season.
Moomoo will pay out $1 million to one investor if the Mets win 100 games during the season. That potential grand prize drawing will take place on Sept. 28, 2025. Moomoo will also pay out prizes of $10,000 for 25 wins, $20,000 for 50 wins and $30,000 for 75 wins if the Mets reach those milestones.
The <a href="https://invest.us.moomoo.com/moomoomillion">contest </a>is open to people living in New York, New Jersey or Connecticut who open a moomoo account and place a deposit or mail a postcard to moomoo.
"We are very excited to partner with New York Mets, not only because I am a baseball fan, but also because we are committed to elevating the fan experience through various interactive games and promotions," moomoo's U.S. CEO Neil McDonald said.
The tagline "from bullpen to bull-market, moomoo, your powerful trading platform" will be used for the sponsorship and promotion.
"As more fans become financially savvy and explore online trading, this is a great opportunity to utilize a new, user-friendly platform while also receiving select benefits for upcoming Mets games," Mets President of Business Operations M. Scott Havens said.
Read Also:<a href="https://www.benzinga.com/general/sports/24/12/42395738/juan-sotos-765-million-mets-contract-could-be-bad-news-for-warren-buffett"> Juan Soto&#8217;s $765 Million Mets Contract Could Be Bad News For Warren Buffett</a>
Why it's Important: Moomoo's global presence includes 25 million users and the new sponsorship could be a way to add additional users in the growing competitive trading platform sector.
In the fourth quarter, Futu <a href="https://ir.futuholdings.com/static-files/135c4132-48f1-408c-80b5-f178dda1b712">reported </a>paying clients up 41% year-over-year, registered clients up 28.7% year-over-year and total number of users up 16.2% year-over-year.
Trading platform Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) recently offered a $1 million prize in Bitcoin to users who participated in the company's 12-question multiple choice trivia game. The contest was played by over 300,000 people and was a way for Robinhood to try and promote its Gold subscription service.
As for the Mets chances of 100 wins, sportsbooks predict the team to be one of the top MLB teams in the 2025 season.
At DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), the Mets have the fifth-best odds of winning the World Series at +1,400. At FanDuel, which is owned by Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>), the over/under on the Mets wins for the season currently sits at 91.5, suggesting a likely total of 92 wins.
Last season, the Mets went 89-73 and made the playoffs. There were seven teams with 90 wins last season, but none eclipsed the 100-win plateau with the Los Angeles Dodgers closest at 98 wins.
The Mets have won 100 or more games several times in their history, including going 101-61 in 2022 and winning 100 or more in 1988, 1986 and 1969.
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Photo: Nyker, Shutterstock

Entertainment

FUTU

Moomoo To Give Away $1 Million If New York Mets Win 100 Games: How You Can Win The Grand Prize

Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has outperformed the market over the past 20 years by 6.56% on an annualized basis producing an average annual return of 14.4%. Currently, Microsoft has a market capitalization of $2.77 trillion. 
Buying $1000 In MSFT: If an investor had bought $1000 of MSFT stock 20 years ago, it would be worth $14,942.33 today based on a price of $372.10 for MSFT at the time of writing.
<h3>Microsoft's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743717637_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

MSFT

Here's How Much $1000 Invested In Microsoft 20 Years Ago Would Be Worth Today

13 analysts have shared their evaluations of Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">7</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Kroger, revealing an average target of $70.46, a high estimate of $75.00, and a low estimate of $61.00. This current average reflects an increase of 1.85% from the previous average price target of $69.18. 
<img src="https://www.benzinga.com/files/images/story/2025/1743717635_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of Kroger by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Heinbockel</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$73.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$74.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Ken Goldman</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$72.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$73.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$73.00</td>
<td>$73.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$73.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>John Heinbockel</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$71.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$75.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Leah Jordan</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Announces</td>
<td>Neutral</td>
<td>$61.00</td>
<td>-</td>
</tr>
<tr>
<td>Simeon Gutman</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$65.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Ken Goldman</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$71.00</td>
<td>$69.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Kroger. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Kroger compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Kroger's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Kroger's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/KR/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Kroger analyst ratings.</a>
<h2>Unveiling the Story Behind Kroger</h2>
Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company boasts an ingrained presence in US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its own food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.
<h3>Kroger's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Kroger's revenue growth over a period of 3 months has faced challenges. As of 31 January, 2025, the company experienced a revenue decline of approximately -7.44%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 1.79%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Kroger's ROE stands out, surpassing industry averages. With an impressive ROE of 5.8%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Kroger's ROA stands out, surpassing industry averages. With an impressive ROA of 1.07%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Kroger's debt-to-equity ratio surpasses industry norms, standing at 3.03. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Analyst Expectations For Kroger's Future

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