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UPWORK INC

Upwork

Upwork Inc is a United States-based company that operates an online marketplace that enables businesses to find and work with skilled independent professionals. The company develops platform for hiring and freelancing purposes. Its products offering include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The business generates revenue from Talent and Clients across the USA, India, the Philippines and the rest of the world. Substantial income is derived from providing services to clients.

Upwork Inc

Canaccord Genuity analyst Richard Close maintains Phreesia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHR#NYSE">PHR</a>) with a Buy and lowers the price target from $35 to $34.

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Canaccord Genuity Maintains Buy on Phreesia, Lowers Price Target to $34

Goldman Sachs analyst Asad Haider initiates coverage on BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) with a Neutral rating and announces Price Target of $110.

Initiation

BNTX

Goldman Sachs Initiates Coverage On BioNTech with Neutral Rating, Announces Price Target of $110

Canaccord Genuity analyst Susan Anderson maintains e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) with a Buy and raises the price target from $105 to $114.

Canaccord Genuity Maintains Buy on e.l.f. Beauty, Raises Price Target to $114

Goldman Sachs analyst Kash Rangan maintains Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Buy and raises the price target from $340 to $385.

Goldman Sachs Maintains Buy on Salesforce, Raises Price Target to $385

Canaccord Genuity analyst Kingsley Crane maintains C3.ai (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) with a Hold and lowers the price target from $30 to $28.

Canaccord Genuity Maintains Hold on C3.ai, Lowers Price Target to $28

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29061750/3sBio-900x600-1.png" alt="" class="wp-image-13563" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29061750/3sBio-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29061750/3sBio-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29061750/3sBio-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The pharma giant Pfizer has bought international rights to the experimental cancer therapy and will take a $100 million equity stake in the Chinese drug developer
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>The mega deal for rights to the Chinese biotech's cancer drug drove 3SBio's stock price to a seven-year high</li>
<li>Big hopes are riding on "dual target" antibody treatments, with Merck &amp; Co. teaming up with another Chinese biopharma on a similar product</li>
</ul>
China's biopharma industry is celebrating a milestone moment after striking a giant licensing deal for one of its experimental cancer treatments.
Multinational drug giant&nbsp;Pfizer&nbsp;(PFE.US) has&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0520/2025052000021.pdf">agreed</a>&nbsp;to hand over an initial $1.25 billion (9 billion yuan) and up to $4.8 billion in milestone payments for international rights to the antibody drug candidate developed by China's&nbsp;3SBio Inc.&nbsp;(1530.HK).
The blockbuster payment marks the Chinese drug sector's biggest overseas licensing deal to date, underscoring its growing role in developing transformative, targeted treatments for a range of cancers, often in partnership with big names in global pharma.
The 3SBio drug under development is a bispecific antibody that targets two protein pathways – PD-1 and VEGF – to fight lung and other cancers.
Under the deal, announced on May 20, Pfizer gains the opportunity to develop and sell the SSGJ-707 drug in markets outside of China. As well as securing record sums in upfront and other fees, the Chinese company stands to get a double-digit percentage of sales in the markets covered by the agreement.
As a further sweetener, Pfizer agreed to take a $100 million equity stake in 3SBio when the deal takes effect later this year, underlining the strategic nature of the relationship.
The news of the bumper deal lit a fire under the Chinese drug developer's stock, which had rallied 13.81% on May 19 and surged another 32.28% the following day to HK$22, its highest level in seven years.
A 3SBiosubsidiary that will get30% of the Pfizer payments,&nbsp;Sunshine Guojian Pharmaceutical (Shanghai)&nbsp;(688336.SH), rose limit-up for four straight days between May 19 and May 22, more than doubling its share price. 3SBio had to rush out a risk statement reminding investors that the deal is still subject to review by the board of directors and approval by U.S. regulators, "subjecting the validity of the licensing agreement to some uncertainties".
The company has been active in China's pharmaceutical industry since 1993, developing several products that have become prominent drugs in their fields. These include treatments for anemia and other blood-related issues including TPIAO, EPIAO and SEPO, and mainland China's first non-prescription product for hair loss, Mandi. The company's revenues rose 16.5% in 2024 to 9.11 billion yuan from the prior year, while net profit jumped 34.9% to 2.09 billion yuan.
SSGJ-707 combines two anti-cancer functions, targeting the PD-1 immune checkpoint to strengthen the body's innate defenses and the VEGF signaling pathway that regulates tumor growth.
Data from Phase Two clinical trials produced promising results on patients suffering from non-small cell lung cancer, both as a standalone treatment and combined with chemotherapy. The drug is also being tested for use against colorectal&nbsp;cancer and gynecological cancers.
<h4 class="wp-block-heading">Dual-action drugs in the spotlight</h4>
In the same category ofPD-1/VEGF treatments, only one bispecific antibody drug has been approved for use so far – ivonescimab from&nbsp;Akeso Biopharma&nbsp;(9926.HK). The drug fared well in a Phase Three trial against the monoclonal antibody Keytruda, an immunotherapy agent from&nbsp;Merck &amp; Co.&nbsp;(MRK.US) that treats lung cancer by targeting the PD-L1 protein. The trial highlighted the potential of PD-1/VEGF bispecific antibodies to strengthen the immune system and attack cancer cells. Back in December 2022, Akeso Biopharma granted exclusive rights to develop and commercialize the drug in the United States, Canada, Europe and Japan to Summit Therapeutics.
Meanwhile Merck has been active in the same arena, gaining rights last November to another PD-1/VEGF candidate, LM-299, from Chinese drug developer LaNova Medicines. The Merck deal grants the Chinese company an upfront sum of $588 million and up to $2.7 billion in milestone payouts, far less than the Pfizer agreement with 3SBio.
Pfizer has been working on its own PD-1/VEGF research for some time. In February this year, Pfizer entered a clinical trial partnership with Summit Therapeutics to explore the combined use of ivonescimab with some of its own antibody drug conjugates to treat solid tumors.
3SBio also teamed up with&nbsp;Sichuan Biokin Pharmaceutical&nbsp;(688506.SH) in February this year for clinical trials on the use of SSGJ-707 combined with an antibody drug conjugate, EGFR/HER3, that targets proteins involved in tumor cell growth. The trial highlighted the potential of drug combinations to combat cancer by multiple means.&nbsp; Having secured the rights to the 3SBio drug, Pfizer may well accelerate clinical trials combining the new asset with its own therapies.
The timing for the push into new cancer therapies is also significant. Wanlian Securities noted in a recent research report that patents on many of Pfizer's blockbuster drugs are approaching their expiry date, prompting the pharma giant to explore the rapidly growing R&amp;D capability in the Chinese biotech industry. Chinese brands could be poised to attract more interest from "Big Pharma", potentially leading to further collaborations and profit-sharing pacts.
3SBio currently trades at a price-to-earnings (P/E) ratio of 21 times, lagging the 49 times for&nbsp;Jiangsu Hengrui Pharmaceuticals&nbsp;(1276.HK; 600276.SH), which is also enjoying success with innovative drugs. The valuation gap suggests some upside potential for 3SBio, if the Pfizer partnership can contribute commercial expertise in launching new drugs as well as a considerable income stream.

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Pfizer's Mega Deal Highlights China's Rising Role In Global Pharma

JMP Securities analyst Silvan Tuerkcan maintains Taysha Gene Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSHA#NASDAQ">TSHA</a>) with a Market Outperform and raises the price target from $5 to $6.

TSHA

JMP Securities Maintains Market Outperform on Taysha Gene Therapies, Raises Price Target to $6

The U.S. economy confirmed signs of fragility in early 2025, as gross domestic product slipped into negative territory, while latest unemployment benefits surged to the highest levels since 2021, suggesting headwinds<a href="https://www.benzinga.com/news/econ-s"> for growth and hiring. </a>
<h3 class="wp-block-heading">GDP Contracts, Corporate Profits Slide</h3>
In the first quarter of 2025, the U.S. gross domestic product shrank at an annualized rate of 0.2%, according to the second estimate by the Bureau of Economic Analysis. While the figure marks a slight upward revision from the initial 0.3% drop reported in April, it remains a sharp slowdown from the 2.4% expansion recorded in the final quarter of 2024.
The downturn was largely driven by a spike in imports, as companies raced to secure goods ahead of Donald Trump&#8216;s trade tariffs—a factor that subtracts from GDP in its calculation. Meanwhile, federal spending declined following cost-cutting mandates by the Department of Government Efficiency, led by Elon Musk.
Consumer spending, the main engine of the U.S. economy, rose just 1.2% on an annualized basis—down from a previously estimated 1.8% and far below the 4% surge in the fourth quarter of 2024. It was the weakest growth in household outlays since the second quarter of 2023.
Corporate earnings also took a hit. Preliminary estimates showed that company profits declined 3.6% quarter-over-quarter to $3.192 trillion. This marked a reversal from a 5.9% gain in the prior quarter and represented the largest drop since the pandemic-era slump in late 2020.
The personal consumption expenditures (PCE) price index—a preferred inflation gauge for the Federal Reserve—rose 3.6% in the first quarter, unchanged from the advance estimate. Core PCE, which excludes volatile food and energy prices, was revised slightly lower to 3.4% from 3.5%, suggesting marginal easing in underlying price pressures.
<h3 class="wp-block-heading">Continuing Jobless Claims Hit Multi-Year High</h3>
Fresh labor market data released Thursday signaled growing strain. Initial jobless claims climbed to 240,000 for the week ending May 10, a 14,000 increase from the previous week and above market expectations of 230,000.
It was the highest weekly print in over a month and the third-largest jump year to date. 
More strikingly, continuing claims—those who remain unemployed and are receiving benefits—rose to 1.919 million in the week ending May 17, up from 1.893 million previously. That marked the highest reading since November 2021.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="535" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-1024x535.png" alt="" class="wp-image-931539" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-1024x535.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-768x401.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-1536x803.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29084710/image-388-2048x1070.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Market Reactions</h3>
Markets responded with caution. The U.S. dollar index dropped 0.4% to 99.56, sliding from an overnight high of 100.54.
Futures tied to U.S. equity indices pared overnight gains.
 The S&amp;P 500 dipped 0.1% after the economic data to 5,935, though it remains set to open 0.4% higher thanks in part to Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) strong earnings and a court decision to block new tariffs proposed by President Donald Trump.
The Nasdaq 100 slipped slightly from 21,630 to 21,590 but is still poised to open up 0.6%.
Investors will now look to Friday's inflation data and any Fed commentary for further clues on the policy outlook.
Read now:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/media/25/05/45664231/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo-jensen-huang-likely-to-be-the-next-multi-trillion-dollar-industry">Tesla&#8217;s Optimus May Be The First Humanoid Robot To Achieve High Volume And Tech Scale, Says Nvidia CEO Jensen Huang: &#8216;&#8230; Likely To Be The Next Multi-Trillion Dollar Industry&#8217; </a></li>
</ul>
Photo: Shutterstock

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NVDA

US Economy Contracts By 0.2% In Q1, Labor Market Shows Signs Of Cracks As Jobless Claims Surge

The collaborative business venture is projected to generate over $5 million in revenue for Jinxin Technology by 2025.
SHANGHAI, May 29, 2025 /PRNewswire/ -- Jinxin Technology Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAMI#NASDAQ">NAMI</a>), a leading provider of AI-driven digital content and interactive communication technologies, today announced a major strategic partnership between its flagship platform NamiBox, Tencent Cloud Computing (Beijing) Co., Ltd., and Shenzhen Press Group Publishing House entered into a tripartite strategic partnership. This collaboration marks the official commencement of a new era where AI technology deeply empowers the entire chain of educational publishing. As the core builder of the big data platform for educational publishing, Namibox will assist Shenzhen Press Group Publishing House in launching its &quot;Technology + Culture + Art&quot; brand strategy.
It is understood that the signed project encompasses an&nbsp;AI-assisted textbook&nbsp;compilation system, a virtual teacher course resource library, and an educational publishing big data platform. The aim is to achieve personalized teaching content generation and multi-modal interactive learning experiences through AI technology, driving the transformation of traditional publishing into &quot;smart publishing.&quot; For instance, the AI-assisted system can automatically generate teaching plans tailored to different educational levels based on course syllabi, significantly shortening teachers&#39; lesson preparation time. Meanwhile, virtual teachers can break down geographical barriers to educational resources through multi-lingual and multi-modal interactions.

NAMI

Jinxin Technology, Tencent Cloud And Shenzhen Press Group Enter InTo AI-Powered Educational Publishing Partnership; Collaborative Business Venture Is Projected To Generate Over $5M In Revenue For The Co By 2025

Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) reported better-than-expected first-quarter financial results after the <a href="https://www.benzinga.com/quote/crm/earnings">market close on Wednesday.</a>
Salesforce reported first-quarter revenue of $9.83 billion, beating the consensus estimate of $9.75 billion. The company reported first-quarter adjusted earnings of $2.58 per share, beating analyst estimates of $2.55 per share, according to Benzinga Pro.
"We've built a deeply unified enterprise AI platform — with agents, data, apps and a metadata platform — that is unmatched in the industry. With Agentforce, Data Cloud, our Customer 360 apps, Tableau, and Slack all built on one trusted, unified foundation, companies of every size can build a digital labor force — boosting productivity, reducing costs and accelerating growth," said Marc Benioff, chair and CEO of Salesforce.
Salesforce said it expects second-quarter revenue to be in the range of $10.11 billion to $10.16 billion versus estimates of $10.01 billion. The company anticipates second-quarter adjusted earnings of $1.80 to $1.82 per share versus estimates of $1.71 per share.
Salesforce also raised its fiscal-year 2026 revenue guidance to a range of $41 billion to $41.3 billion versus estimates of $40.83 billion. The company raised its full-year adjusted earnings guidance to $7.15 and $7.21 per share versus estimates of $7.24 per share
Salesforce shares fell 0.4% to close at $276.03 on Wednesday.
These analysts made changes to their price targets on Salesforce following earnings announcement.
<ul class="wp-block-list">
<li>RBC Capital analyst Rishi Jaluria downgraded Salesforce from Outperform to Sector Perform and lowered the price target from $420 to $275.</li>
<li>Bernstein analyst Mark Moerdler maintained Salesforce with an Underperform rating and raised the price target from $243 to $255.</li>
</ul>
Considering buying CRM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="594" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29093421/image-392-1024x594.png" alt="" class="wp-image-931626" style="width:535px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29093421/image-392-1024x594.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29093421/image-392-300x174.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29093421/image-392-768x445.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29093421/image-392.png 1092w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/markets/25/05/45641430/jim-cramer-says-this-quantum-computing-stock-is-so-high-and-too-speculative">Jim Cramer Says This Quantum Computing Stock Is &#8216;So High&#8217; And &#8216;Too Speculative&#8217;</a> </li>
</ul>
Photo via Shutterstock

Earnings

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These Analysts Revise Their Forecasts On Salesforce Following Q1 Results

Investing in a company before it hits the public markets offers a chance to capture growth early, but it comes with distinct risks and rewards. Many view the IPO as the prime moment to buy shares, yet much of a company's value often builds long before. Nasdaq <a href="https://www.nasdaq.com/articles/as-companies-stay-private-longer-advisors-need-access-to-private-markets">data</a> reveals that firms now spend over a decade in private status, often reaching a $1 billion valuation before going public. This is the domain of pre-IPO investing-a window to tap into rising stars before they shine on the open market.
<h2 class="wp-block-heading">What Defines Pre-IPO Investing?</h2>
Pre-IPO investing involves backing private companies that have outgrown their startup phase but aren't yet listed on exchanges. Unlike IPO shares, which trade freely, pre-IPO stakes are typically illiquid, held until the company goes public or sold in secondary markets. Straddling venture capital and public equities, this stage lets investors buy into businesses showing real momentum at valuations lower than public offerings.
<h2 class="wp-block-heading">Why It Draws Attention</h2>
Pre-IPO opportunities allow investors to secure larger share allocations than in oversubscribed IPOs, where demand often outstrips supply. Early entry can yield significant gains-some companies see their market value surge by 350% within a year of going public. However, the trade-off is clear: private firms offer less transparency, with less rigorous reporting and performance that may vary. For those comfortable with uncertainty, pre-IPO investing provides a shot at outsized returns.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1024" height="768" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29112848/image-18.png" alt="" class="wp-image-13598" style="width:436px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29112848/image-18.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29112848/image-18-300x225.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/29112848/image-18-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Risk Management</h2>
Success in pre-IPO investing hinges on avoiding common pitfalls. Timing and pricing are critical-market volatility or sector slumps can skew valuations unfavorably. Investors need a clear picture of the company's direction: is it a high-growth innovator or a steady cash-flow player? Without a defined roadmap, confidence wanes. Transparency is equally vital; even without public oversight, solid metrics are non-negotiable. We should request detailed cap tables, term sheets, and liquidation preferences to gauge risks like dilution or exit priorities. Finally, companies that treat pre-IPO as a mere funding round rather than a partnership often falter. Open communication builds trust.
<h2 class="wp-block-heading">The Bottom Line</h2>
Pre-IPO investing is more than a high-stakes bet- it's a vital part of today's financial landscape. For those skilled at assessing timing, valuation, and execution, it unlocks value before the broader market catches on. In a world where foresight trumps late moves, disciplined pre-IPO investors can shape tomorrow's success stories.

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Pre-IPO Investing: Unlocking Value Before The World Does

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TSLA

Benzinga Market Summary: Trump Tariffs Struck Down By Federal Court, NVIDIA Rises On Earnings Beat, Tesla Rises As Musk's Government Role Concludes

LOBO EV Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOBO#NASDAQ">LOBO</a>) ("LOBO" or the "Company"), an advanced manufacturer of electric bikes, tricycles, and off-highway four-wheeler electric carts, proudly announced the launch of its second-generation multi-functional robotic platform. Based on a highly modular design, the new platform builds on LOBO's first-generation robotic mower and has been engineered as a versatile base unit capable of transforming into multiple specialized service robots through module customization.

LOBO

LOBO EV Technologies Launches Second-Generation Modular Robotic Platform Designed For Multi-Functionality And Customizable Service Applications

Kim Jong Un&#8216;s North Korea is secretly infiltrating American businesses via remote jobs, with the help of unwitting U.S. citizens. Christina Chapman, a Minnesota woman whose home functioned as a hub for foreign operatives posing as American IT workers, helped funnel millions into North Korea&#8217;s economy while jeopardizing U.S. data security.
What Happened: Christina Chapman, a 50-year-old former waitress turned TikTok personality, established what authorities call a "laptop farm" in her home, according<a href="https://www.wsj.com/business/north-korea-remote-jobs-e4daa727"> to</a> The Wall Street Journal. 
She had several laptops connected to remote access software, allowing North Korean workers overseas to pose as U.S.-based tech employees. They secured jobs at more than 300 American companies, collecting $17.1 million in pay. 
Many companies, unaware of the scam, sent paychecks and devices to Chapman's address. She handled paperwork, assisted with job applications, and forwarded pay after taking a cut. Authorities say she shipped almost 50 devices abroad and helped create false tax records for more than 35 people.
See Also: <a href="https://www.benzinga.com/25/05/45611605/kim-jong-uns-regime-slams-trumps-golden-dome-missile-defense-project-as-nuclear-war-scenario">Kim Jong Un&#8217;s Regime Slams Trump&#8217;s Golden Dome Missile Defense Project As &#8216;Nuclear War Scenario&#8217;</a>
Why It Matters: With international sanctions affecting funding sources, North Koreans are turning to unconventional methods. As per blockchain firm Chainalysis, North Korean hackers have stolen $6 billion in cryptocurrency. Laptop farming is the latest tactic enabling the regime to manipulate the gig economy and draw salaries from unsuspecting businesses. "That's a material percentage of their economy," observed Gregory Austin, a section chief at the FBI.
Adam Meyers, a senior vice president at cybersecurity firm CrowdStrike, said this is becoming a significant issue for employers who depend on remote workforces. CrowdStrike has identified almost 150 cases of North Korean workers invading customer systems, and farms have been located in at least eight U.S. states.
"These DPRK IT workers are absolutely able to hold down jobs that pay in the low six figures in U.S. companies and sometimes they can hold multiple of these jobs," Austin added.
Chapman was contacted on LinkedIn with an offer to "be the U.S. face" of a firm that managed overseas IT talent. As per court records, there is no indication that she was aware of the North Korean connection.
The FBI raided her home in October 2023 and seized more than 90 devices. In February, she pleaded guilty to several federal charges including identity theft and money laundering. She earned around $177,000 from the operation, and now faces over nine years in prison. Her sentencing is scheduled for July 16.
Read Next: <a href="https://www.benzinga.com/markets/equities/25/05/45601008/satellite-imagery-uncovers-serious-damage-to-north-koreas-newest-warship">Satellite Imagery Uncovers Serious Damage To North Korea&#8217;s Newest Warship</a>
Image via Shutterstock

Kim Jong Un's North Korea Infiltrates US Remote Jobs With The Help Of Everyday Americans, Funneling $17 Million Through 'Laptop Farm' Run By Unwitting TikToker: Report

C3.Ai Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) shares are rising Thursday after the company reported better-than-expected results for the fourth quarter. The company also announced that the U.S. Air Force raised its contract ceiling <a href="https://www.benzinga.com/pressreleases/25/05/b45668411/c3-ai-u-s-air-force-rapid-sustainment-office-contract-award-increased-to-450-million">to $450 million</a>.
What Happened: C3 AI reported fourth-quarter revenue of $108.7 million, beating&nbsp;<a href="http://benzinga.com/quote/AI/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $107.73 million. The company reported an adjusted loss of 18 cents per share, beating estimates for a loss of 20 cents per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Total revenue increased 26% year-over-year as subscription revenue jumped 9% year-over-year. C3 AI noted that it renewed and expanded its strategic partnership with Baker Hughes through a multi-year agreement.
The company closed out the quarter with $742.7 million in cash, cash equivalents and marketable securities.
"The Enterprise AI market is converging toward AI applications — a category we created and continue to lead. We continue to innovate, most recently in agentic AI. We continue to grow, expanding our partner ecosystem and global reach. And we are ready to scale as demand for AI applications accelerates,&#8221; said&nbsp;Thomas Siebel, chairman and CEO of C3 AI.
C3.AI guided for first-quarter revenue of $100 million to $109 million versus estimates of $105 million. The company expects fiscal-year 2026 revenue to be in the range of $447.5 million to $484.5 million, versus estimates of $467.19 million.
C3 AI shares are also getting a boost Thursday morning after the company announced the U.S. Air Force Rapid Sustainment Office (RSO) raised the contract ceiling with the company to&nbsp;$450 million&nbsp;through October 2029, up from $100 million.
The initial $100 million has already been fully utilized to deploy the predictive maintenance platform PANDA, the company said.
&#8220;We believe our program with RSO may be the largest production AI deployment in the U.S. DoD today. At the scale of the U.S. Air Force, this system has the potential to increase aircraft availability by up to&nbsp;25%,&#8221; said Ed Abbo, chief technology officer of C3 AI. 
AI Price Action: <a href="http://benzinga.com/quote/AI" target="_blank" rel="noreferrer noopener">C3.AI shares</a> were up 17.1% at $26.91 at the time of publication Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/media/25/05/45664231/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo-jensen-huang-likely-to-be-the-next-multi-trillion-dollar-industry">Tesla&#8217;s Optimus May Be The First Humanoid Robot To Achieve High Volume And Tech Scale, Says Nvidia CEO Jensen Huang: &#8216;&#8230; Likely To Be The Next Multi-Trillion Dollar Industry&#8217;</a></li>
</ul>
Photo: Poetra.RH/Shutterstock.

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C3 AI Stock Is Soaring Today: Here's Why

The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) ("Goodyear" or the "company") today announced that it has commenced a public offering of&nbsp;$500 million&nbsp;aggregate principal amount of 5-year senior notes (the "notes"). The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions.
Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full the company's remaining 5.000% Senior Notes due 2026 (the "2026 Notes"). Currently, there is $900 million&nbsp;in aggregate principal amount of the 2026 Notes outstanding. On May 29, 2025, the company issued a notice of redemption to the holders of the 2026 Notes for $400 million of the 2026 Notes, which we intend to fund using a portion of the cash proceeds from the Dunlop brand disposition. The redemption date for the redemption of the $400 million of 2026 Notes is June 30, 2025. This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 2026 Notes.

Goodyear Tire & Rubber Commences Public Offering Of $500M Aggregate Principal Amount Of 5-Yr Senior Notes

Best Buy Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is <a href="https://www.benzinga.com/premarket" target="_blank" rel="noreferrer noopener">trading lower</a> Thursday after the retailer&#8217;s first-quarter 2026 earnings <a href="https://www.benzinga.com/markets/equities/25/05/45592571/best-buy-q1-earnings-preview-analyst-flags-tariff-fallout-cuts-fy25-outlook-amid-profit-risk" target="_blank" rel="noreferrer noopener">fell short of expectations</a>.
The company&#8217;s first-quarter sales fell around 1% (comparable sales fell 0.7%) year over year to $8.77 billion. It missed the analyst <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate of $9.22 billion.</a>
<ul class="wp-block-list">
<li>Domestic revenue of $8.13 billion decreased 0.9%, primarily due to a 0.7% decline <a href="https://www.benzinga.com/pressreleases/25/05/b45665488/best-buy-reports-first-quarter-results" target="_blank" rel="noreferrer noopener">in comparable sales</a>.</li>
<li>The largest drivers of the comparable sales decline on a weighted basis were home theater, appliances, and drones, partially offset by growth in the computing, mobile phone, and tablet categories.</li>
<li>Domestic online revenue of $2.58 billion increased 2.1% on a comparable basis, and as a percentage of total Domestic revenue, online revenue was 31.7% versus 30.8% last year..</li>
</ul>
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44797563/goldman-sachs-sees-upside-in-retail-giants-dollar-tree-home-depot-best-buy-and-target-despite-tariff-margin-pressures" target="_blank" rel="noreferrer noopener">Goldman Sachs Sees Upside In Retail Giants Dollar Tree, Home Depot, Best Buy And Target</a>
The gross profit margin remained unchanged at 23%, and the operating margin fell from 3.5% to 2.5%.
Best Buy reported adjusted earnings of $1.15, missing the consensus of $1.31.
Corie Barry, Best Buy CEO, said the company &#8220;delivered in-line revenue and better-than-expected adjusted operating income."
Outlook: "Today we are updating our full year guidance to incorporate the impact of tariffs," said Matt Bilunas, Best Buy CFO. "We expect annual comparable sales growth to be in the range of down 1% to up 1%, and our adjusted operating income rate to be similar to last year at approximately 4.2%.
For Q2 FY26, Bilunas expects comparable sales to be slightly down to last year. He added that the company&#8217;s adjusted operating income rate will be approximately 3.6.
Best Buy lowered its fiscal 2026 adjusted earnings from $6.20-$6.60 per share to $6.15-$6.30 per share versus consensus of $6.13 per share.
The company lowered its sales guidance from $41.4 billion to $42.2 billion to $41.1 billion to $41.9 billion. The consensus hovers around $41.44 billion.
The guidance reflects comparable sales of (1.0%) to 1.0% compared to prior guidance of 0.0% to 2.0%.
<ul class="wp-block-list">
<li>Adjusted operating income rate of approximately 4.2%, compared to prior guidance of 4.2% to 4.4%.</li>
</ul>
Price Action: BBY stock is trading 2.54% lower at $69.70&nbsp;in premarket at the last check Thursday.
Read Next:
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Large Cap

Best Buy Falls Short: Sales, Earnings Miss As Tariff Pressures Mount

Tigress Financial analyst Ivan Feinseth maintains Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Buy and raises the price target from $244 to $250.

Tigress Financial Maintains Buy on Fiserv, Raises Price Target to $250

WIIM

SPDR Dow Jones Industrial Average ETF Trust

Major indexes are higher after a federal court has ruled against Trump's authority to impose extensive global tariffs under the International Emergency Economic Powers Act.

At what will be his <a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">last annual meeting as CEO</a> of Berkshire Hathaway, Warren Buffett shared a story that succinctly demonstrated his unique ability to spot value in unexpected places, like a small Japanese handbook he could barely read.
What Happened: Buffett's famous journey with the <a href="https://www.benzinga.com/markets/bonds/25/05/45635713/warren-buffetts-cheap-debt-bet-on-these-japanese-stocks-is-minting-infinite-returns-fund-manager-calls-it-a-no-brainer">five Japanese trading houses</a> — Itochu, Marubeni, Mitsubishi Corp., Mitsui &amp; Co.and Sumitomo Corp. started not with a team of analysts or a visit to the country, but with a handbook detailing thousands of Japanese companies, <a href="https://www.cnbc.com/2025/05/26/what-you-may-have-missed-in-berkshires-last-annual-meeting-under-buffett.html">according </a>to CNBC. 
"I was just going through a little handbook that probably had 2,000 or 3,000 Japanese companies in it," he recalled. In it, he discovered a group of companies that caught his attention. "One problem I have is that I can't read that handbook anymore. The print's too small. And there were these five trading companies. They have a special name for them in Japan, but they were selling at ridiculously low prices. So I spent about a year acquiring them." 
Berkshire Hathaway now holds around 10% of each firm.
See Also: <a href="https://www.benzinga.com/general/education/25/05/45607543/warren-buffett-you-can-make-a-fortune-but-your-life-is-a-disaster-if-you-overlook-this-one-thing">Warren Buffett: You Can Make A Fortune, But &#8216;Your Life Is A Disaster&#8217; If You Overlook This One Thing</a>
Why It Matters: This handbook is the go-to source for Japan's everyday retail investors. Bloomberg <a href="https://www.bloomberg.com/opinion/articles/2025-05-12/buffett-s-little-japan-handbook-and-other-investing-lessons">reports</a> that it is known as the Kaisha Shikiho, a quarterly guide regarded locally as the "bible of Japanese equities." For about ¥2,800 (approximately $20), investors get a comprehensive, encyclopedia-style volume full of data on almost 4,000 publicly traded companies across Japan.
The English edition of the Handbook has even appeared on Buffett's desk more than ten years ago. But surprisingly, the publisher discontinued the English version last year.
Highlighting the value of the handbook, Buffett said: "If you get real opportunities every five or six years&#8230;, <a href="https://www.benzinga.com/general/education/25/05/45602754/warren-buffett-investment-success-3-simple-rules-to-copy-oracle-of-omaha">you have to be patient</a>." "Every now and then you get extraordinary opportunities, and most of the time you don't have much of an edge," he added.
Read Next: <a href="https://www.benzinga.com/tech/25/05/45661246/warren-buffett-loves-sees-candies-but-even-he-cant-get-the-brand-to-succeed-nationwide-heres-why">Warren Buffett Has Discovered There&#8217;s No Accounting For Tastes Through Berkshire&#8217;s Candy Company: &#8216;There Are All Kinds Of Crazy Things In The World That Consumers Do&#8217;</a>
Photo Courtesy: Photo Agency On Shutterstock

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