最新ニュース ModivCare (NASDAQ:MODV) 株価情報

MODIVCARE INC

ModivCare

ModivCare Inc is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for payors and their members. Its solutions address the social determinants of health (SDoH) by connecting members to essential care services. Its various service offerings include non-emergency medical transportation, personal care, virtual and remote monitoring, consumer health engagement, and integrated supportive care. The company's reportable segments are NEMT, PCS, Monitoring, and Corporate and Other. A majority of its revenue is generated from the NEMT segment, which provides non-emergency medical transportation services.

ModivCare Inc

MELCOR DEV LTD by Melcor Development Ltd.

Melcor Developments Ltd

India is considering imposing import duties on select U.S. products to counter Washington&#8217;s 25% tariffs on steel and aluminum imports, according to a document submitted to the World Trade Organization on Monday.
The filing stated these U.S. measures affect $7.6 billion worth of Indian exports but didn&#8217;t specify which American products might face retaliatory duties, Reuters reported.
The move follows the U.S. reimposition of <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">steel and aluminum tariffs in March</a>, extending policies first implemented during President Donald Trump&#8216;s first term in 2018.
Trump&#8217;s administration has also threatened additional 26% reciprocal tariffs on Indian goods. The two nations are currently negotiating a trade deal, with India reportedly offering to reduce its tariff gap with the U.S. by two-thirds.
Image Via Shutterstock 
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45369487/josh-hawley-slams-gop-identity-crisis-over-medicaid-calls-proposed-cuts-morally-wrong-and-politically-suicidal">Josh Hawley Slams GOP &#8216;Identity Crisis&#8217; Over Medicaid, Calls Proposed Cuts &#8216;Morally Wrong And Politically Suicidal&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors

News

Economics

CENX

India Weighs Tariffs On US Goods In WTO Dispute Over Trump's Steel And Aluminum Duties Amid Ongoing Trade Talks

In a heated exchange with Pakistani commentator Shehzad Ghias Shaikh, British journalist Piers Morgan blasted Pakistan's Inter-Services Intelligence&#8217;s failure surrounding Osama bin Laden's hideout near a major military base.
What Happened: During the debate on Piers Morgan Uncensored, Morgan called claims of Pakistan's ignorance "utterly ludicrous," referring to the fact that bin Laden was found to be living "literally a few hundred yards from one of Pakistan's main military bases." 
He added, "All they had to do was get a pair of binoculars and they would have found the most wanted terrorist in the world." When Shaikh argued that intelligence failures do not equate to intentional harboring, Morgan said: "You don't dispute Osama bin Laden was living literally down the road from one of your biggest bases?" In response, Shaikh admitted to the intelligence failure.
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<iframe loading="lazy" title="&quot;Exporting TERRORISM!&quot; India-Pakistan Debate With Ranveer Allahbadia &amp; Hina Khar" width="500" height="281" src="https://www.youtube.com/embed/LEKjCeHr0NU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also: <a href="https://www.benzinga.com/25/05/45342121/chinese-made-pakistani-jet-downs-two-indian-aircraft">India Breaks Silence After Rafale Jet Reportedly Downed By Pakistan&#8217;s Chinese-Made Fighter — Triggering Sell-Off In Dassault Aviation Stock: &#8216;Losses Are A Part Of&#8230;&#8217;</a>
Why It Matters: Morgan linked Pakistan's shielding of Bin Laden to India's lack of trust in its administration, saying, "That's why India has such a tension about this… they think, well look what happened with Bin Laden, it's happening again," he said. 
This debate comes on the heels of a <a href="https://www.benzinga.com/news/global/25/05/45335338/trump-makes-india-pakistan-ceasefire-declaration-in-casual-manner-thank-you-for-your-attention-to-this-matter">ceasefire announcement</a>, publicly declared by President Donald Trump, between the two countries, after <a href="https://www.benzinga.com/news/global/25/05/45282156/us-and-china-accelerate-arms-race-with-billions-in-military-sales-to-nuclear-powered-neighbors-as-india-turns-to-washington-and-pakistan-deepens-ties-with-beijing-amid-escalating-conflict-at-border">days of increasingly aggressive attacks</a> across borders that led to multiple casualties, including army personnel and civilians. The ceasefire was shortly <a href="https://www.benzinga.com/markets/equities/25/05/45336288/india-pakistan-ceasefire-teeters-as-blasts-shatter-calm-in-kashmir">violated by Pakistan</a> on the same day.
The hunt for Osama Bin Laden and his eventual capture and killing remain a controversial topic, 14 years on. Last year, <a href="https://www.benzinga.com/news/24/07/39760146/bill-gates-recalls-barack-obamas-mission-to-capture-osama-bin-laden-in-pakistan-using-fake-polio-vac">Bill Gates spoke about the damage caused by a fake hepatitis vaccination drive</a> used by the Obama administration to gather blood samples for DNA testing to verify links to bin Laden's family inside the compound.
"Obama later said we won't have the CIA do fake vaccination campaigns again in the future, but a lot of damage had been done," Gates said, underscoring the long-term impact on public trust in vaccines.
Read Next: <a href="https://www.benzinga.com/news/25/05/45342962/bill-gates-slams-trumps-tariffs-we-told-china-to-make-their-own-chips-and-theyre-making-great-progress-warns-its-a-bad-time-to-inte">Bill Gates Slams Trump&#8217;s Tariffs: We Told China To &#8216;Make Their Own Chips&#8217; —And &#8216;They&#8217;re Making Great Progress,&#8217; Warns It&#8217;s A &#8216;Bad Time To Interject So Much Uncertainty&#8217;</a>
Image Via Shutterstock

Politics

Global

General

Piers Morgan Tears Into Pakistani Expert Who Says ISI 'Didn't Know' Osama Bin Laden Was Living Near Military Base: 'All They Had To Do Was Get A Pair Of Binoculars'

U.S. stock futures fell on Tuesday after a stellar rally on Monday. Futures of major benchmark indices were trading lower in premarket.
Tech, consumer discretionary, and communication services led Monday&#8217;s rally as stocks surged on the<a href="https://www.benzinga.com/markets/equities/25/05/45341884/apple-amazon-nvidia-rise-in-monday-premarket-as-us-china-agree-to-90-day-tariff-truce-neither-side-wants-a-decoupling"> tariff truce</a> with China. 
President Donald Trump <a href="https://www.benzinga.com/general/health-care/25/05/45341590/trumps-drug-pricing-executive-order-could-rattle-pharma-stocksprice-cuts-up-to-80">signed an executive order</a> Monday, seeking to slash U.S. drug prices, fulfilling a social media pledge to achieve cuts of at least 59%. 
Meanwhile, the 10-year Treasury bond yielded 4.45% and the two-year bond was at 3.98%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 91.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
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<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.44%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.54%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.25%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.42% to $580.57, while the QQQ declined 0.50% to $505.29, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Information technology, consumer discretionary, and communication services sectors saw the biggest gains on Monday. The Dow Jones index soared over 1,100 points as the U.S. and China agreed to a <a href="https://www.benzinga.com/markets/equities/25/05/45341884/apple-amazon-nvidia-rise-in-monday-premarket-as-us-china-agree-to-90-day-tariff-truce-neither-side-wants-a-decoupling">90-day tariff truce</a>, effective May 14. 
This, along with the Trump administration&#8217;s progress to further formal trade talks amid growing economic pressures, fueled the market optimism.
However, this positive Monday followed a down week for major U.S. indices, with the S&amp;P 500, Nasdaq, and Dow all closing lower on Friday.
In stock-specific news, NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) reported strong first-quarter results, while Kindly MD Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDLY#NASDAQ">KDLY</a>) shares skyrocketed following a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury strategy merger.
Meanwhile, utility stocks moved against the broader market trend, closing lower.
After Monday, all the indices were out of the correction zone. The S&amp;P 500 index was down 4.93% from its record high of 6,147.43 points, scaled on Feb. 19. Dow Jones was 5.91% lower than its 52-week high of 45,073.63 points, and Nasdaq 100 was 6.09% lower than its previous high of 22,222.61 points.
The Dow Jones index declined 119 points or 0.29% to 41,249.38, whereas the S&amp;P 500 index fell 0.071% to 5,659.91. Nasdaq Composite ended 0.004% higher at 17,928.92, and the small-cap gauge, Russell 2000, dropped 0.16% to 2,023.07.
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<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>4.35%</td>
<td>18,708.34</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>3.26%</td>
<td>5,844.19</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>2.81%</td>
<td>42,410.10</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>3.42%</td>
<td>2,092.20</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick from Carson Research highlighted in an X post that more than 55% of the S&amp;P 500 components made a new 20-day high on Monday.
According to the historical data presented by him, the S&amp;P 500 index ended 16.3% higher on average following days with such fresh 20-day highs. Out of the 30 times this has happened, the index has closed the year on a positive note 29 times.
&#8220;This is yet another clue the lows are likely in and better times are coming,&#8221; Detrick wrote in an X post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&gt;55% of the components in the S&amp;P 500 made a new 20-day high today. This is yet another clue the lows are likely in and better times are coming. Higher a year later 29 out of 30 times and up 16.3% on average. <a href="https://t.co/O0129ED0b9">pic.twitter.com/O0129ED0b9</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1922139786845831186?ref_src=twsrc%5Etfw">May 13, 2025</a></blockquote>
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The S&amp;P 500 index has a year-to-date performance low of 15.3%. Detrick highlighted that &#8220;Only three times in history has the S&amp;P 500 been down at least 15% YTD and moved back to positive by the end of the year.&#8221;
Despite having only three such instances historically, he added that 2025 could be the fourth such year.
&#8220;Call me crazy, but this year will be number four,&#8221; he said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Only three times in history has the S&amp;P 500 been down at least 15% YTD and moved back to positive by the end of the year. Call me crazy, but this year will be number four. <a href="https://t.co/JnVDNDgUKz">pic.twitter.com/JnVDNDgUKz</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1922131292151337121?ref_src=twsrc%5Etfw">May 13, 2025</a></blockquote>
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After the 90-day tariff pause between the U.S. and China, John Murillo, chief dealing officer of B2BROKER, a global fintech solutions provider, said that the news triggered an immediate positive market response. 
"Stocks and oil prices have rebounded – apparently, in reaction to the news, which can lead to lower costs for businesses and consumers," Murillo noted.
Despite the initial positive action following the announcement, Murillo emphasized the <a href="https://www.benzinga.com/government/regulations/25/05/45367206/sp-500-rallies-over-3-on-us-china-90-day-tariff-truce-but-experts-warn-it-doesnt-guarantee-a-complete-resolution-of-the-trade-war">temporary nature of the agreement</a>. "Now, while the 90-day pause is a big step towards easing tensions, it&#8217;s crucial to remember that it doesn&#8217;t guarantee a complete resolution of the trade war."
Meanwhile, Ed Yardeni, the President of Yardeni Research, has <a href="https://www.benzinga.com/25/05/45367861/ed-yardeni-revises-recession-odds-to-25-after-the-rally-bumps-sp-500-year-end-target-to-6500">lowered his U.S. recession probability</a> to 25% while raising his S&amp;P 500 target to 6,500 points for this year, following the trade deal with China. &#8212;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Tuesday:
<ul class="wp-block-list">
<li>April&#8217;s NFIB optimism index will be out by 6:00 a.m., whereas headline and core CPI data for April will be released by 8:30 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Under Armour Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>) rose 1.45% in premarket on Tuesday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 8 cents per share on the revenue of $1.16 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Cyberark Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) was up 0.94% as Wall Street expects it to report earnings of 79 cents per share on revenue of $305.23 billion before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) was 1% lower ahead of its earnings. Analysts expect earnings of $1.02 per share on revenue of $37.91 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Acadia Healthcare Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) jumped 4.99% after reporting better-than-expected first-quarter financial results after the closing bell on Monday. The company posted adjusted earnings of 40 cents per share, with revenue of $770.50 million.</li>
</ul>
<ul class="wp-block-list">
<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) surged 8.98% after the announcement that the company will join the S&amp;P 500, effective before the opening of trading on Monday, May 19.</li>
</ul>
<ul class="wp-block-list">
<li>Sangamo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) dropped 31.51% after reporting a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.11.</li>
</ul>
<ul class="wp-block-list">
<li>Accelerate Diagnostics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXDX#NASDAQ">AXDX</a>) slumped 17.97% after it filed for Chapter 11 bankruptcy, leading to a delisting notice from Nasdaq due to non-compliance with listing requirements.</li>
</ul>
<ul class="wp-block-list">
<li>Microvision Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVIS#NASDAQ">MVIS</a>) tumbled 13.22% after reporting a 40% decline in first-quarter revenue, falling to $0.6 million.</li>
</ul>
<ul class="wp-block-list">
<li>OPTIMIZERx Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRX#NASDAQ">OPRX</a>) zoomed 24.89% after it reported strong first-quarter financial results with revenue increasing 11% year-over-year to $21.9 million.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.45% to hover around $62.23 per barrel.
Gold Spot US Dollar rose 0.61% to hover around $3,254.39 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.18% at the 101.6080 level.
Asian markets ended on a mixed note on Tuesday as India's S&amp;P BSE Sensex and Hong Kong's Hang Seng index fell. While South Korea's Kospi, China&#8217;s CSI 300, Japan's Nikkei 225, and Australia's ASX 200 indices advanced. European markets were also mixed in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45368511/china-to-us-goods-shipment-jump-after-90-day-tariff-postponement-a-big-backlog-is-looming">China To US Goods Shipment Jump After 90-Day Tariff Postponement: &#8216;A Big Backlog Is Looming&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Markets

$BTC

ACHC

AXDX

COIN

CYBR

KDLY

MVIS

OPRX

SGMO

US Stocks Likely To Open Lower After A Strong Rally: 'Lows Are Likely In And Better Times Are Coming,' Says Expert

[2] Forecasts for the Fiscal Year Ending March 31, 2026 In regard to the forecasts of the financial results for the fiscal year ending March 31, 2026, Honda projects consolidated results to be as shown below: Fiscal year ending March 31, 2026 Yen (billions) Changes from FYE Mar. 31, 2025 Sales revenue 20,300.0 -6.4% Operating profit 500.0 -58.8% Profit before income taxes 490.0 -62.8% Profit for the year 325.0 -64.0% Profit for the year attributable to owners of the parent 250.0 -70.1% Note: The forecasts are based on the assumption that the average exchange rates for the Japanese yen to the U.S. dollar will be JPY135 for the full year ending March 31, 2026. The reasons for the increases or decreases in the forecasts of the operating profit for the fiscal year ending March 31, 2026 from the previous year are as follows. Yen (billions) Sales impacts + 156.1 Price and cost impacts + 250.0 Expenses - 219.1 R&amp;D expenses - 126.0 Currency effect - 452.0 Tariff impact and recovery efforts for tariff impact - 450.0 Impact of change in the estimation model for automobile product warranties + 127.6 Operating profit compared with the fiscal year ended March 31, 2025 - 713.4

Earnings

Guidance

Honda Motors For FY 2026 Expects Net Profit Of ¥250B And Revenue Of ¥20.3T

On Monday, Stephanie Pomboy, the founder of macro research firm MacroMavens, rained on Wall Street&#8217;s victory parade following the trade war de-escalation between the U.S. and China.
What Happened: Referring to the rally as a &#8220;headline sugar rush,&#8221; Pomboy believes the market is misreading the situation. &#8220;To listen to the financial media, you&#8217;d think it was the final agreement, and it ain&#8217;t,&#8221; she said <a href="https://www.youtube.com/watch?v=PIbYX9-gLl0">on</a> Kitco News, referring to the temporary tariff pause.
While equities rallied, Treasuries were telling a different story, according to Pomboy, &#8220;10-year yield just surged to 4.45%,&#8221; she says, calling the instrument &#8220;recalcitrant,&#8221; given its growing unpredictability and lack of cooperation with macroeconomic signals.
See More: <a href="https://www.benzinga.com/government/regulations/25/05/45368852/trump-lowers-de-minimis-tariff-on-chinese-imports-from-120-to-54-pauses-200-postal-fee-amid-90-day-trade-shift">Trump Lowers De Minimis Tariff On Chinese Imports From 120% To 54%, Pauses $200 Postal Fee Amid 90-Day Trade Shift</a>
With more than $2 trillion in Treasury issuance on the horizon and major foreign buyers like China pulling back, &#8220;Who's going to buy $2 trillion worth of paper?&#8221; She asks.
The U.S. Treasury is expected to issue new debt in 2025 to finance ongoing federal deficits. Recent projections include $514 billion in borrowing for the April–June quarter and $554 billion for July–September, with similar amounts in earlier quarters. On an annualized basis, total borrowing exceeds $2 trillion.
She further warned that the Federal Reserve may ultimately be forced back into balance sheet expansion. &#8220;The Fed is the only obvious candidate to absorb all this issuance,&#8221; Pomboy said, adding that credit stress is growing despite a lack of response in spreads.
&#8220;This is a structural fiscal problem,&#8221; she says. &#8220;The market's partying on tariffs, but the foundation is cracking.&#8221;
Why It Matters: Last week, Michael Hartnett, a Chief Investment Strategist at Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) echoed similar views, stating that 5% Treasury Yields could <a href="https://benzinga.com/government/regulations/25/05/45317301/5-treasury-yields-could-force-trump-to-slash-tariffs-in-q2-says-bofas-hartnett">push the U.S. Government</a> to walk back on its protectionist trade policies. 
This comes amid the Treasury <a href="https://benzinga.com/news/25/05/45204657/us-treasury-ramps-up-borrowing-needs-to-514-billion-marking-a-surprising-320-jump-from-its-previous-forecast">ramping up its borrowing</a>, at $514 billion, up 317% from its own forecast of $123 billion made just two months ago. 
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/05/45368550/apple-may-up-its-numbers-amid-china-tariff-truce-trump-talks-500-billion-us-investment-after-tim-cook-call">Apple May &#8216;Up Its Numbers&#8217; Amid China Tariff Truce: Trump Talks $500 Billion US Investment After Tim Cook Call</a></li>
</ul>

Bonds

'Who's Going To Buy $2 Trillion Worth Of Paper?' Macro Expert Calls Wall Street Rally A 'Headline Sugar Rush' As Treasury Yield Spike Signals Bigger Trouble

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) correction continued into Tuesday morning, although one analyst seemed confident the coin would reach $0.27 on the next leg up.
What happened: The dog-themed memecoin lost over 9% in the last 24 hours, reversing the gains made the day before. The trading volume rose 1.70% to $3.55 billion.
Widely followed cryptocurrency analyst and trader Rekt Capital said DOGE was retesting the key pre-Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving resistance of $0.22 as new support.
"Retest is now in progress. Hold green, and at least $0.27 would be next," the analyst predicted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> Dogecoin is now performing that key retest of Pre-Halving resistance into new support Retest is now in progress Hold green and at least $0.27 would be next<a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://t.co/7Smdq4segv">https://t.co/7Smdq4segv</a> <a href="https://t.co/uJziodEVrz">pic.twitter.com/uJziodEVrz</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1922009907198328913?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45339966/bitcoin-creator-satoshi-nakamotos-estimated-wealth-crosses-bill-gates-amid-apex-cryptos-sharp-rebound">Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator&#8217;s Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto&#8217;s Sharp Rebound</a>
Meanwhile, nearly 75% of derivatives traders on Binance with open DOGE positions were positioned long, <a href="https://www.coinglass.com/LongShortRatio">according</a> to Coinglass, indicating that a reversal could be around the corner.
That said, the Relative Strength Index, used to determine if the asset is overbought or oversold, flashed a &#8220;Neutral&#8221; signal for the coin, <a href="https://in.tradingview.com/symbols/WIFUSD/technicals/">according </a>to TradingView. The Bull Bear Power indicator, which measures the strength of buyers and sellers, also showed no clear dominance.
Price Action:&nbsp; At the time of writing, DOGE was exchanging hands at $0.2262, down 9.94% 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>. Year-to-date, the coin was still down over 28%.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45339772/michael-saylor-harnesses-ai-to-drive-home-an-important-message-on-bitcoin-its-going-up-forever">Michael Saylor Harnesses AI To Drive Home An Important Message On Bitcoin: &#8216;It&#8217;s Going Up Forever&#8217;</a></li>
</ul>
Photo Courtesy: alfernec on Shutterstock.com

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

Cryptocurrency

Movers

Trading Ideas

$DOGE

Dogecoin Slips Early Tuesday — But Signs Point To A Rebound Toward $0.27

Honda Motor Co FY 2025 GAAP EPS ¥178.93 Down From ¥225.88 YoY, Sales ¥21.688T Up From ¥20.428T YoY

Shares of Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose sharply in <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45365186/coinbase-stock-jumps-nearly-11-after-hours-monday-heres-why">today's pre-market trading</a>.
Coinbase is set to join the S&amp;P 500, replacing Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) in the benchmark index, according to a Monday announcement. The inclusion of Coinbase in the S&amp;P 500 will become effective before trading begins on May 19, according to a press release shared by S&amp;P Dow Jones Indices.
Coinbase shares jumped 9.2% to $226.29 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>Lichen International Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICN#NASDAQ">LICN</a>) rose 133.6% to $8.13 in pre-market trading after gaining 5% on Monday.</li>
<li>Inno Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INHD#NASDAQ">INHD</a>) surged 75.8% to $4.15 in pre-market trading. INNO HOLDINGS shares dipped 56% on Monday after the company announced a strategic cooperation with New Life Technology Development on developing a B2B marketplace platform.</li>
<li>Landsea Homes Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSEA#NASDAQ">LSEA</a>) gained 58.5% to $11.12 in pre-market trading after New Home Co. agreed to acquire the company for $11.30 per share in an all-cash transaction. Landsea Homes also reported a narrower-than-expected quarterly loss.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) jumped 42.1% to $0.1706 in pre-market trading after gaining 5% on Monday.</li>
<li>Xilio Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XLO#NASDAQ">XLO</a>) gained 32.8% to $0.9701 in pre-market trading. The company recently posted downbeat quarterly results.</li>
<li>WANG &amp; LEE GROUP, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLGS#NASDAQ">WLGS</a>) surged 24.5% to $0.3102 in pre-market trading after gaining more than 43% on Monday.</li>
<li>Profound Medical Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROF#NASDAQ">PROF</a>) climbed 23.5% to $5.30 in pre-market trading. The company recently posted downbeat first-quarter results.</li>
<li>GigaCloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCT#NASDAQ">GCT</a>) gained 11.6% to $17.74 in pre-market after the company reported better-than-expected first-quarter financial results.</li>
<li>Arrowhead Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) gained 10% to $15.36 in pre-market trading after the company reported better-than-expected quarterly financial results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>Polyrizon Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLRZ#NASDAQ">PLRZ</a>) shares fell 92% to $0.0281 in pre-market trading. Polyrizon recently announced its planned reverse split will not be effected.</li>
<li>DevvStream Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DEVS#NASDAQ">DEVS</a>) fell 48.8% to $0.67 in pre-market trading after jumping 290% on Monday.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) fell 32.3% to $0.5055 in today's pre-market trading following weaker-than-expected first-quarter results.</li>
<li>Kearny Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRNY#NASDAQ">KRNY</a>) shares dipped 23.5% to $5.00 in pre-market trading after gaining 3% on Monday.</li>
<li>3D Systems Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) shares fell 20.7% to $2.02 in pre-market trading after the company posted weaker-than-expected quarterly results.</li>
<li>Kindly MD, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDLY#NASDAQ">KDLY</a>) dipped 18.2% to $11.15 in pre-market trading. KindlyMD shares jumped 251% on Monday after the company announced a merger agreement with Nakamoto Holdings to start a Bitcoin treasury strategy.</li>
<li>Accelerate Diagnostics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXDX#NASDAQ">AXDX</a>) fell 18% to $0.11 in pre-market trading after dipping 9% on Monday. Accelerate Diagnostics recently announced it filed for Chapter 11 bankruptcy protection.</li>
<li>Klotho Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLTO#NASDAQ">KLTO</a>) shares tumbled 17% to $0.1448 in pre-market trading after gaining 5% on Monday.</li>
<li>Heritage Commerce Corp (NASDA: HTBK) declined 15.4% to $8.00 in pre-market trading.</li>
<li>Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) fell 12.1% to $10.15 in pre-market trading after the company reported mixed first-quarter financial results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/earnings/25/05/45368490/under-armour-cyberark-software-and-3-stocks-to-watch-heading-into-tuesday">Under Armour, CyberArk Software And 3 Stocks To Watch Heading Into Tuesday</a> </li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

ARWR

CGBS

DEVS

HTBK

INHD

KLTO

KRNY

LICN

LSEA

PLRZ

PROF

RGTI

WLGS

Why Coinbase Global Shares Are Trading Higher By Over 9%; Here Are 20 Stocks Moving Premarket

Sen. Josh Hawley (R-Mo.) says that the Republican party is currently facing an internal &#8220;identity crisis,&#8221; particularly over the proposed legislation on Medicaid, as the Democratic party&#8217;s approval ratings continue to fall. 
What Happened: Hawley stated that the Republican Party is divided over its approach to representing working-class Americans. President Donald Trump has promised tax cuts for the working class and protection for social insurance programs like Medicaid. However, a faction within the party, known as the &#8220;Wall Street wing,&#8221; is advocating for a return to corporate incentives, capital preferences, and significant cuts to social insurance, stated Hawley in a New York Times <a href="https://www.nytimes.com/2025/05/12/opinion/josh-hawley-dont-cut-medicaid.html">op-ed</a>. He calls the idea of Medicaid cuts &#8220;morally wrong and politically suicidal.&#8221;
Despite recent polls indicating that 64% of Republicans view Medicaid favorably, and over half of Americans have a personal or familial connection to the program, some Republican representatives continue to push for substantial cuts to Medicaid. Hawley urges Republicans to recognize the needs and desires of their constituents, who largely depend on social insurance programs. 
Josh Hawley stated that for Republicans to become a majority and truly represent the working class, they must reject proposals to cut Medicaid and focus on fulfilling promises to American workers.
SEE ALSO:&nbsp;<a href="https://benzinga.com/economics/macro-economic-events/25/05/45367790/dr-doom-nouriel-roubini-says-trump-chickened-out-in-trade-war-with-china-calls-xi" target="_blank" rel="noreferrer noopener">&#8216;Dr. Doom&#8217; Nouriel Roubini Says Trump &#8216;Chickened Out&#8217; In Trade War With China, Calls Xi Jinping &#8216;The Clear Winner&#8217; After Tariff Rollback</a>
Why It Matters: This internal conflict within the Republican party comes at a time when millions of Americans stand to lose their Medicaid health insurance coverage due to proposals by Republican Congress members aimed at reducing spending to back President Trump&#8217;s tax cuts and domestic policy agenda. According to a&nbsp;<a href="https://www.benzinga.com/25/05/45278823/over-5-million-americans-set-to-lose-health-coverage-by-2034-amid-proposed-gop-medicaid-cuts-cbo-analysis">recent nonpartisan analysis</a>&nbsp;by the Congressional Budget Office (CBO), Medicaid coverage losses could range between 2.3 million and 8.6 million people.
Furthermore, House Republicans have unveiled plans for at least $880 billion in Medicaid cuts to fund President Trump&#8217;s $4.5 trillion tax break extension, potentially causing 8.6 million Americans to lose healthcare coverage over the next decade, as per a&nbsp;<a href="https://www.benzinga.com/general/health-care/25/05/45344596/house-republicans-push-880-billion-medicaid-cuts-to-renew-trump-tax-breaks-democrat-warns-millions-will-lose-their-health-care">CBO preliminary analysis</a>.
Democrats, on the other hand, are urging GOP leaders to discard Medicaid cuts and instead address Medicare Advantage &#8220;upcoding&#8221; to tackle federal waste. They claim that Medicare overpaid private insurers by $50 billion in 2024 for unverified diagnoses, according to a&nbsp;<a href="https://www.benzinga.com/news/25/05/45335179/democrats-urge-gop-to-target-medicare-advantage-upcoding-instead-of-medicaid-cuts-calling-budget-pla">report from The Hill</a>.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/events/25/04/44971154/trump-fails-to-impress-americas-young-shows-poll-as-they-still-favor-biden-only-15-think-us-on-right-track" target="_blank" rel="noreferrer noopener">Trump Fails To Impress America&#8217;s Young, Shows Poll As They Still Favor Biden — Only 15% Think US On Right Track &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors

Health Care

Personal Finance

Josh Hawley Slams GOP 'Identity Crisis' Over Medicaid, Calls Proposed Cuts 'Morally Wrong And Politically Suicidal'

Fortuna Mining Corp. (NYSE:<a href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>, TSX:<a href="https://www.benzinga.com/stock/FVI#TSX">FVI</a>) ("Fortuna" or the "Company") is pleased to announce the successful completion of the sale of its interest in Roxgold Sanu SA ("Roxgold Sanu"), together with the Company's three other wholly-owned Burkina Faso subsidiaries (together with Roxgold Sanu, the "Acquired Companies") to Soleil Resources International Ltd. ("SRI"), a private Mauritius company (the "Transaction"). Roxgold Sanu owns and operates the Yaramoko Mine in the Balé Province, Burkina Faso. The Transaction closed pursuant to the terms of a definitive share purchase agreement (the "Share Purchase Agreement"). All references to dollar amounts in this news release are expressed in US dollars.
Jorge A. Ganoza, President and CEO, commented, "We're taking the opportunities a strong gold market provides to streamline our asset portfolio. The recent closings of the high-cost San Jose Mine sale in April and the Yaramoko Mine sale in May represent the divestment of two operations with limited reserve life." Mr. Ganoza continued, "In the case of Yaramoko, we received a compelling offer that provided a prudent exit from a jurisdiction where we are no longer pursuing exploration activities and where the operating and security landscape remains challenging." Mr. Ganoza concluded, "Collectively, these transactions enable us to shift our focus away from mine closures - reallocating approximately $50 million in capital and freeing up management capacity - to pursue higher-value opportunities aligned with our strategic objectives."
The proceeds from the sale increase the Company's first quarter cash and short term investments to over $380 million and liquidity to over $530 million.
Details of the Transaction
Under the terms of the Share Purchase Agreement, SRI acquired all of the issued and outstanding shares of the Acquired Companies held by Fortuna's subsidiaries in consideration for the payment of $70 million in cash. Prior to the closing of the Transaction, Roxgold Sanu paid to the Company a cash dividend in the amount of $53.8 million plus $3.7 million in withholding tax. The agreement also provides that the Company has the right to receive up to approximately $53 million of value added tax receivables upon the completion of certain conditions.
The Company has now ceased all operations in Burkina Faso.
Updated 2025 Production and Cost Guidance Reflects Streamlining of the Portfolio
Following the divestiture of the Yaramoko Mine, Fortuna has updated its consolidated production and cost guidance for 2025.
<ul>
<li>Gold equivalent production guidance has been updated to 309,000 to 339,000 ounces, down from the original range of 380,000 to 422,000 ounces; an 18 percent reduction at the midpoint. Consolidated cash cost guidance remains unchanged in the original range of $895 to $1,015 per gold equivalent ounce ("GEO").</li>
<li>All-in Sustaining Cost (AISC) guidance has been updated to a range of $1,670 to $1,765 per GEO, up from the previous estimate of $1,550 to $1,680 per GEO. This adjustment indicates a 6% increase over the midpoint of original guidance and primarily reflects the net impact of the exclusion of the Yaramoko Mine's contribution, and a reduction in the AISC estimate for the Lindero Mine. The updated AISC guidance continues to account for expenditures totaling approximately $45 per GEO, including: 
<ul>
<li>$5.3 M for the upgrade of the Company's enterprise resource planning ("ERP") system to SAP S/4HANA</li>
<li>$2 M in land compensation payments at Séguéla</li>
<li>$7 M in incremental government royalty payments at the Séguéla Mine &nbsp;</li>
</ul>
</li>
</ul>

Asset Sales

Fortuna Divests Burkina Faso Assets, Adds $70M Cash and Shifts Strategy Toward Growth

Piper Sandler analyst Brent Bracelin maintains ZoomInfo Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) with a Neutral and raises the price target from $8 to $11.

Price Target

Analyst Ratings

Piper Sandler Maintains Neutral on ZoomInfo Technologies, Raises Price Target to $11

JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) reported quarterly earnings of $1.16 per share which missed the analyst consensus estimate of $4.54 by 74.45 percent. This is a 48.72 percent increase over earnings of $0.78 per share from the same period last year. The company reported quarterly sales of $41.50 billion which missed the analyst consensus estimate of $290.43 billion by 85.71 percent. This is a 15.23 percent increase over sales of $36.02 billion the same period last year.

Earnings Misses

JD.com Q1 Adj. EPS $1.16 Misses $4.54 Estimate, Sales $41.50B Miss $290.43B Estimate

On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.16 by 43.75 percent. This is a 39.47 percent decrease over earnings of $0.38 per share from the same period last year. The company reported quarterly sales of $807.70 million which beat the analyst consensus estimate of $570.78 million by 41.51 percent. This is a 38.88 percent increase over sales of $581.59 million the same period last year.

Earnings Beats

ONON

On Holding Q1 Adj. EPS $0.23 Beats $0.16 Estimate, Sales $807.70M Beat $570.78M Estimate

Tencent Music Enter Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) reported quarterly earnings of $0.19 per share which met the analyst consensus estimate. This is a 26.67 percent increase over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $1.01 billion which met the analyst consensus estimate. This is a 8.22 percent increase over sales of $937.00 million the same period last year.

Tencent Music Enter Gr Q1 Adj. EPS $0.19, Sales $1.01B, Both Inline

McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) announced Monday one of its largest hiring initiatives in years, seeking to add 375,000 employees across U.S. locations this summer as the fast-food giant pursues aggressive expansion despite recent sales challenges.
What Happened: Joe Erlinger, McDonald&#8217;s U.S. president, unveiled the hiring plan alongside Department of Labor Secretary Lori Chavez-DeRemer at a location near Columbus, Ohio, <a href="https://www.nbcnews.com/business/business-news/mcdonalds-announces-plan-hire-375000-employees-us-summer-rcna206309">reported</a> NBC News. The initiative aligns with McDonald&#8217;s strategy to open 900 new U.S. restaurants by 2027 and bolster staffing for increased summer demand.
The announcement comes amid broader economic headwinds for the company. Earlier this month, McDonald&#8217;s reported its worst quarterly U.S. same-store sales performance since 2020, <a href="https://www.benzinga.com/personal-finance/25/05/45336128/a-divided-economy-mcdonalds-ceo-says-rich-keep-dining-out-but-average-income-consumers-feeling-economic-anxiety">with a 3.6% decline</a> that missed analyst forecasts of a 1.7% drop. 
Executives cited diminishing foot traffic as the primary factor, noting middle-income consumer visits fell by &#8220;nearly double digits&#8221; alongside continued weakness among low-income customers.
&#8220;People are just visiting less,&#8221; McDonald&#8217;s told investors during its earnings call, pointing to spending cutbacks as consumers increasingly skip meals out or eat breakfast at home to save money.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45368175/cathie-wood-says-index-sensitive-managers-will-be-compelled-to-consider-coinbase-as-crypto-exchange-platform-joins-sp-500-index">Cathie Wood Says &#8216;Index-Sensitive Managers Will Be Compelled to Consider&#8217; Coinbase As Crypto Exchange Platform Joins S&amp;P 500 Index</a>
Why It Matters: The hiring push coincides with the President Donald Trump administration&#8217;s focus on domestic business investment. The White House recently reported securing over $5 trillion in new U.S. investment commitments during Trump&#8217;s first 100 days in office, including major pledges from technology companies.
McDonald&#8217;s leadership has explicitly acknowledged a &#8220;<a href="https://www.benzinga.com/25/05/45159157/mcdonalds-ceo-the-us-economy-is-dividedlow-income-traffic-down-10-while-rich-diners-continue-to-spend">divided U.S. economy</a>&#8221; where low and middle-income consumers face persistent pressure from inflation despite strong traffic among higher-income patrons. 
The company, which currently operates over 38,000 locations globally, continues emphasizing value offerings, including $5 meal deals to attract price-sensitive customers in this challenging consumer environment.
Image Via Shutterstock 
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<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/25/05/45368480/dave-ramsey-calls-listeners-math-the-most-ridiculous-thing-ive-ever-heard-proves-consistent-100-investments-can-still-make-millionaires">Dave Ramsey Calls Listener&#8217;s Math The &#8216;Most Ridiculous Thing I&#8217;ve Ever Heard&#8217;, Proves Consistent $100 Investments Can Still Make Millionaires</a></li>
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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.

Restaurants

McDonald's Launches Massive Summer Hiring Drive For 375,000 Workers Amid US Expansion Plans And Slumping Sales

Markel Insurance, The Insurance Operations Within Markel Group Inc., Launched An Innovative, Specialist Cyber Product To Provide Up To $5M Of Cover Per Risk For Indirect Losses Arising From An Act Of War

ABOS

ABSI

ACCS

ACHV

ACXP

ADAP

ALCO

ALLO

ASNS

AUID

AVXL

BDSX

BEAT

BKTI

BWAY

BWEN

CAMT

CAPR

CINT

CLPT

CLRB

CNCK

DARE

DLPN

DMAC

ELMD

ETON

EXEL

FENC

FLOC

FTHM

GAIN

GAUZ

GENK

GEVO

GNSS

GOCO

GRAL

GUTS

HSON

HUMA

HUYA

HYFM

HYLN

HYPR

ICMB

IMOS

INLX

IRIX

ITRM

IZEA

KOPN

KRMN

LCTX

LEGN

LOAR

LSTR

LUNR

LXRX

MASS

MBRX

MCHX

MDAI

MGNX

MPTI

NMTC

NPCE

NUTX

NUWE

NXGL

NYAX

OKLO

OPXS

PERI

PRTS

PSFE

PXLW

Earnings Scheduled For May 13, 2025

Payments-focused cryptocurrency XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) retained strong momentum in the early hours of Monday, while higher-valued coins retraced.
What happened: XRP rose by over 3% in the last 24 hours, defying corrections in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
The 24-hour trading volume soared 150% to $10.59 billion, highlighting high liquidity and trader engagement.
Over the past week, XRP has posted a gain of 18.80%, primarily due to news of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45322133/xrp-price-breaks-higher-as-ripple-settlement-lifts-legal-woes">formal settlement agreement</a> between Ripple Labs and the SEC, which might bring the multi-year legal battle to a close.
The coin has also profited from the <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45366281/bitcoin-ethereum-dogecoin-retreat-stocks-rally-after-us-china-tariff-de-escalation-analyst-sees-opportunity-in-2100-2250-if-eth-corrects">U.S.-China tariff de-escalation</a>.
The XRP derivatives market was also boosted, with Open Interest rising 14% in the last 24 hours and more than 70% of Binance traders betting on an increase, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45339966/bitcoin-creator-satoshi-nakamotos-estimated-wealth-crosses-bill-gates-amid-apex-cryptos-sharp-rebound">Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator&#8217;s Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto&#8217;s Sharp Rebound</a>
Widely followed cryptocurrency influencer Sjuul Follings stated XRP was showing "nice strength."
"Structure is bullish, support held, so I have to assume we are moving to range high next," Follings wrote, predicting a move to $3
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> showed some nice strength yesterday and is finally trading above that key level at $2.2. Structure is bullish, support held, so I have to assume we are moving to range high next. &#x1f91e;<a href="https://t.co/LqNC23yfPm">https://t.co/LqNC23yfPm</a> <a href="https://t.co/V36eA89Ibc">pic.twitter.com/V36eA89Ibc</a>
&mdash; Sjuul &#x7C; AltCryptoGems (@AltCryptoGems) <a href="https://twitter.com/AltCryptoGems/status/1922196362990379241?ref_src=twsrc%5Etfw">May 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action:&nbsp; At the time of writing, XRP was exchanging hands at $2.50, up 3.14% 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>. 
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
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Image Via Shutterstock

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President Donald Trump has significantly reduced tariffs on Chinese imports as the United States enters a 90-day period of trade negotiations with China, according to a May 12 executive order.
What Happened: The order decreases the de minimis tariff rate on low-value Chinese imports from 120% to 54%, effective May 14. 
Additionally, the planned increase of the per-postal-item duty from $100 to $200, originally scheduled for June 1, has been suspended. The executive order also lowers general Chinese import tariffs to 10% by suspending 24% from the previously imposed rate for the 90-day negotiation period.
Trump justified these reductions by stating that China has taken &#8220;significant steps to remedy non-reciprocal trade arrangements&#8221; by entering discussions with the United States to address &#8220;the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns.&#8221; 
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45366471/elliott-management-scores-key-win-in-phillips-66-proxy-fight-as-iss-backs-all-four-board-nominees-ahead-of-may-21-vote">Elliott Management Scores Key Win In Phillips 66 Proxy Fight As ISS Backs All Four Board Nominees Ahead Of May 21 Vote</a>
Why It Matters: The tariff adjustments represent a significant shift in Trump&#8217;s trade strategy that previously targeted Chinese e-commerce platforms like Temu owned by PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) and Shein, after closing the de minimis exemption that had allowed <a href="https://www.benzinga.com/news/retail-sales/25/04/44714336/temu-shein-brace-for-impact-as-trumps-tariff-torpedo-blows-up-the-800-loophole">goods valued under $800 </a>to enter the United States duty-free. 
The earlier crackdown had substantial ripple effects across digital advertising markets, with Sensor Tower reporting that <a href="https://www.benzinga.com/25/05/45190742/meta-google-snap-set-to-lose-billions-in-ad-revenue-from-chinese-sellers-as-trump-closes-de-minimis-loophole-report">Temu reduced its average daily U.S. advertising</a> spend by 31% between March and mid-April. 
Marketing firm Tinuiti noted that Temu, which represented 19% of all U.S. Google Shopping ads, saw its share <a href="https://www.benzinga.com/25/05/45190742/meta-google-snap-set-to-lose-billions-in-ad-revenue-from-chinese-sellers-as-trump-closes-de-minimis-loophole-report">drop to zero just one week later</a>. 
Image Via Shutterstock
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45366281/bitcoin-ethereum-dogecoin-retreat-stocks-rally-after-us-china-tariff-de-escalation-analyst-sees-opportunity-in-2100-2250-if-eth-corrects">Bitcoin, Ethereum, Dogecoin Retreat, Stocks Rally After US-China Tariff De-Escalation: Analyst Sees Opportunity In $2,100-2,250 If ETH Corrects</a></li>
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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.

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Trump Lowers De Minimis Tariff On Chinese Imports From 120% To 54%, Pauses $200 Postal Fee Amid 90-Day Trade Shift

Investment banks managing Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) battery supplier CATL&#8217;s IPO, the world&#8217;s largest listing of 2025, are set to earn underwriting fees that fall below the industry standard. 
What Happened: Nine underwriters of Shenzhen-listed battery titan CATL are projected to receive a maximum of HK$238.7 million ($30.62 million). This data was shared by the Chinese firm in a securities filing earlier this week. The fixed commission on Hong Kong's largest listing of the year is just 0.2% of the funds raised—well below the industry average, according to Reuters. 
This fee is just one-third of what Chinese home appliance maker Midea paid banks last year for its nearly $4.6 billion Hong Kong listing. It's also only a quarter of the 0.8% underwriting fee that China's largest express delivery firm, S.F. Holding, paid for its $792 million secondary listing in Hong Kong last November.
The sponsors of the CATL deal—JPMorgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), China International Capital Corporation, and China Securities International—will each receive $300,000 for their involvement. That's roughly half the five-year market average, according to Dealogic data. Meanwhile, Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and UBS are serving as joint global coordinators for CATL&#8217;s Hong Kong listing,
CATL may offer a 0.6% discretionary fee as an incentive. The modest fees underscore the tough environment banks face in Asia&#8217;s financial hub, even as a recent uptick in trading volumes and new listings has raised hopes for a rebound in major Chinese offerings.
SEE ALSO: <a href="https://benzinga.com/news/25/05/45314762/charlie-munger-was-once-asked-why-warren-buffett-was-so-much-richer-and-replied-he-got-an-earlier-start-before-adding-why-was-albert-einstein-poorer-than-i-was" target="_blank" rel="noreferrer noopener">Charlie Munger Was Once Asked Why Warren Buffett Was So Much Richer — He Replied, &#8216;He Got An Earlier Start,&#8217; Then Added, &#8216;Why Was Albert Einstein Poorer Than I Was?&#8217; &#8211; Benzinga</a>
Why It Matters: This development comes after <a href="https://www.benzinga.com/25/05/45343633/tesla-battery-supplier-catl-to-raise-4-billion-through-hong-kong-listing-report">CATL&#8217;s announcement</a> to raise over $4 billion through a stock listing on Hong Kong&#8217;s stock exchange. The company, a battery supplier for the Elon Musk-led Tesla Inc, aimed to raise the figure by selling over 117.9 million shares priced at HK$263 ($33.75).
CATL&#8217;s offering has seen strong demand and was oversubscribed multiple times since its launch on Monday, attracting interest from sovereign wealth funds and global long-only investors, according to a book message reviewed by Reuters.
Earlier in April, CATL had&nbsp;<a href="https://www.benzinga.com/markets/25/04/44894382/tesla-battery-supplier-catl-unveils-new-fast-charging-battery-with-323-mile-range-in-five-minutes">launched</a>&nbsp;the second-generation ‘Shenxing&#8217; fast-charging battery, which can power over 67 new EVs this year. The battery enables a range of 520 km or approximately 323 miles on a 5-minute charge, and can also be charged from 0% to 80% in 15 minutes in cold weather.
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<li>READ MORE: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45354990/scottie-pippen-declares-altcoin-season-as-ethereum-xrp-dogecoin-shiba-inu-rally" target="_blank" rel="noreferrer noopener">Scottie Pippen Declares &#8216;Altcoin Season&#8217; As Ethereum, XRP, Dogecoin, Shiba Inu Rally &#8211; Benzinga</a></li>
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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.

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Tesla Supplier CATL Sets Modest Underwriting Fees For World's Biggest IPO Of 2025

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Alert to Long-Term Shareholders of Driven Brands Holdings, Inc. (NASDAQ: DRVN); Integra LifeSciences Holdings Corporation (NASDAQ: IART); ModivCare, Inc. (NASDAQ: MODV); and Virtu Financial Inc. (NASDAQ: VIRT): Grabar Law Office is Investigating Claims on Your Behalf

Alert to Long-Term Shareholders of Driven Brands Holdings, Inc. (NASDAQ: DRVN); General Motors Company (NYSE: GM); Integra LifeSciences Holdings Corporation (NASDAQ: IART); and ModivCare, Inc. (NASDAQ: MODV): Act Now as Grabar Law Office Is Investigating Claims on Your Behalf

Notice to Long-Term Shareholders of Driven Bands Holdings, Inc. (NASDAQ: DRVN); ModivCare, Inc. (NASDAQ: MODV); Monolithic Power Systems, Inc. (NASDAQ: MPWR); and Virtu Financial Inc. (NASDAQ: VIRT), Grabar Law Office Investigates Claims on Your Behalf

Notice to Long-Term Shareholders of Kyverna Therapeutics, Inc. (NASDAQ: KYTX); Methode Electronics, Inc. (NYSE: MEI); ModivCare, Inc. (NASDAQ: MODV); and Monolithic Power Systems, Inc. (NASDAQ: MPWR) - Grabar Law Office Is Investigating Claims on Your Behalf

Modivcare and Aetna Better Health® of Illinois Transform Access to Healthcare in Illinois with Launch of Health Stations

KDK Transport Company Named Modivcare's Virginia Transportation Provider of the Year

Modivcare Announces Changes to Board of Directors

Modivcare to Report First Quarter 2025 Financial Results

Modivcare Announces Executive Leadership Transitions as Part of Strategic Business Model Evolution

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