Global markets digested a week packed with trade breakthroughs, monetary policy signals, <a href="https://www.benzinga.com/topic/digital-assets">and digital asset milestones</a>.



Wall Street remains cautiously optimistic as the Trump administration intensifies efforts to strike favorable trade deals. Hopes were buoyed by a high-level summit between U.S. and Chinese officials in Switzerland over the upcoming weekend. Investors view the meeting as a <a href="https://www.benzinga.com/25/05/45294428/wall-street-rallies-after-us-seals-first-trade-deal-you-better-go-out-and-buy-stock-trump-says">step toward de-escalation.</a>



Meanwhile, the Trump administration unveiled a trade agreement with the U.K. A 10% baseline tariff remains, but the U.S. intends to cut duties on U.K. car imports <a href="https://www.benzinga.com/politics/25/05/45293839/trump-starmer-strike-us-uk-trade-deal-steel-cars-beef">from 25% to 15%.</a> 



In return, the U.K. reduced tariffs on U.S. vehicles and slashed agricultural duties, bringing levies on American beef and other key exports near zero. In addition, British Airways placed a $13 billion order for Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) aircraft.



On the macro front, the Federal Reserve held its policy rate steady at 4.25%-4.50% for a third consecutive meeting, underscoring concerns over lingering inflationary pressures and labor market damage <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45263291/fed-keeps-rates-steady-warns-of-rising-uncertainty-about-the-economic-outlook">amid trade-related risks.</a>



Fed Chair Jerome Powell struck a cautious tone and resisted expectations of imminent rate cuts, reiterating that monetary policy <a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">will remain data-dependent.</a> Powell dismissed recession fears, attributing the weakness in first-quarter economic data to distortions in trade flows.



Still, a growing number of economists now warn that stagflation—a toxic mix of high inflation and stagnant growth—could be around the corner, straining the Fed's <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45269703/stagflation-emerges-as-key-economic-risk-to-federal-reserve-policy-economists-warn">dual mandate.</a>



Market pricing for rate cuts has shifted accordingly. As of now, futures imply just a 20% probability of a 25-basis-point cut in June.



In equities, The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) reached the top of the mega-cap leaderboard. This follows robust earnings and a new theme <a href="https://www.benzinga.com/markets/equities/25/05/45276805/disneys-30-billion-theme-park-bet-pays-off-as-bob-iger-touts-all-time-high-returns-stock-rallies-10-after-q2-earnings">park announcement for Abu Dhabi.</a>



Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) extended last week's decline following disappointing guidance, weighing heavily on <a href="https://www.benzinga.com/content/45261458/is-eli-lilly-a-buy-after-weak-earnings-and-cvs-novo-partnership">the broader healthcare sector.</a>



Cryptocurrencies staged a dramatic comeback. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) breached the $100,000 threshold. The top digital asset hit levels last seen in February as optimism around trade <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45295626/bitcoin-breaks-100000-ethereum-xrp-dogecoin-roar-10-higher-what-do-experts-predict-next">diplomacy lifted risk sentiment</a>.



The rally was broad-based, with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) jumping over 25% on the week following <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45314930/ethereum-explodes-higher-largest-gain-in-four-years">a major network upgrade.</a>



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45317301/5-treasury-yields-could-force-trump-to-slash-tariffs-in-q2-says-bofas-hartnett">5% Treasury Yields Could Force Trump To Slash Tariffs In Q2, Says BofA&#8217;s Hartnett </a></li>
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Fed Stays Put, Trump Touts UK Trade Deal, Bitcoin Booms Past $100K, Stagflation Fears Rise: This Week In Markets

The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) CEO Jeff Green shared strong opinions regarding the closed platforms that he called "walled gardens" run by Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp; on the company's<a href="https://www.benzinga.com/news/earnings/25/05/45300178/the-trade-desk-stock-climbs-after-q1-eps-revenues-beat-estimates-details"> first-quarter earnings call.&nbsp;</a>



What To Know: Green said closed platforms like Google and Amazon are inherently at odds with the best interests of advertisers and agencies because their primary obligation is to maximize shareholder value and not to ensure a fair and open marketplace.&nbsp;



The Trade Desk, on the other hand, is positioned to serve the open Internet, enabling broader and more objective media buying, the CEO said.&nbsp;



Read Next: <a href="https://www.benzinga.com/25/05/45319531/cathie-wood?utm_source=articleShare">Cathie Wood Says AI Will &#8216;Disrupt The Traditional World Order&#8217; And Replace Search Engines Like Google</a>&nbsp;



"We have been winning in an unfair market," Green stated.&nbsp;



He pointed to some recent changes in the demand-side platform (DSP) landscape that Green believes will improve competition, transparency and fairness.



Recent court rulings in 2025 have declared Google an illegal monopoly and Green said Google is already starting to scale back and discontinue some of its previous &#8220;draconian and illegal practices&#8221; in response.&nbsp;



"I continue to believe that Google will stop trying to monetize the open Internet and instead focus more on their destinations. I expect that Amazon will continue on the same path," Green said.&nbsp;



The Trade Desk CEO also pointed to a recent ruling that allows Spotify to have a payment relationship with its customers separate from Apple which helps to create a "more level playing field."



Green remains optimistic that The Trade Desk will thrive even further as competition and transparency improve under new regulations that encourage a fairer marketplace. 



"As we've said before, if we can win share in an unfair market against the biggest tech players in the world, as we have over the last 15 years, imagine what we can do in a fair market," the CEO said. 



Read Next:&nbsp;



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The Trade Desk CEO Slams Google, Amazon's 'Walled Gardens': 'Imagine What We Can Do In A Fair Market'

It's been a great decade. It's been hard not to make money in U.S. stocks.



To lose money over the past ten years, you would have had to chase every bad idea that came down the pike, from SPACs and Crowdfunding to inverse QQQ funds.



If you were determined not to compound your cash at double-digit levels, you could have used covered call funds to cut your returns in half.



If you just owned the indexes or the large-cap, well-known companies, you made excellent returns.



But now, it looks like the party is coming to an end. All five of the world's most reliable long-term market indicators say the same thing: The party in U.S. stocks is over.



Here's why and where to invest instead.



As investors assess the road ahead after a long stretch of stellar U.S. equity performance, the key question is where the next decade's returns will come from. Using the most reliable long-term indicators—CAPE ratios, excess CAPE yields, market cap to GDP, and investor allocation levels—the message is straightforward: The U.S. is expensive. Japan and Europe look far more promising.



Before we get into the comparisons, here's a quick overview of the tools we're using:



<ul class="wp-block-list">
<li>CAPE Ratio (Cyclically Adjusted P/E): Price divided by the 10-year average of inflation-adjusted earnings. A higher CAPE generally signals lower future returns.</li>



<li>Excess CAPE Yield (ECY): The inverse of the CAPE ratio (earnings yield) minus the 10-year government bond yield. A higher ECY means stocks offer more yield relative to bonds—historically, a strong signal for forward equity returns.</li>



<li>Market Cap to GDP: A broad valuation gauge comparing total equity market value to the size of the economy. Higher readings often suggest lower long-term returns.</li>



<li>Investor Allocation to Equities: Measures the share of household wealth held in stocks. High equity exposure often signals crowded positioning and lower future returns.</li>



<li>Tobin's Q: Market value of companies compared to the replacement cost of their assets. When Q is high, the market is expensive relative to its real-world capital base.</li>
</ul>



<h1 class="wp-block-heading">U.S. Stocks: Expensive And Well-Owned</h1>



Let's start with the U.S., where the CAPE ratio is north of 33, placing it in the top 5% of historical observations. The inverse CAPE yield is under 3%, while the 10-year Treasury yield sits around 4.45%. That gives us a negative excess CAPE yield of -1.6%—a red flag by historical standards. It means investors earn less from stocks than from safe government bonds when adjusted for valuation.



Market cap to GDP is pushing 175%, and household equity allocations are near all-time highs around 45%. In past cycles, these conditions have corresponded with real returns of just 1–2% per year, or 3–4% nominal, assuming 2% inflation. Investors expecting a repeat of the last decade's performance may be in for a disappointment.



<h1 class="wp-block-heading">Japan: Solid Valuations, Positive Yields, Room to Re-Rate</h1>



Japan offers one of the most attractive long-term setups in the developed world. The Topix CAPE is around 18, with an inverse CAPE yield of 5.3%. The 10-year JGB yield, still under 1%, puts the excess CAPE yield at a very strong 4.45%. That signals that Japanese equities offer far better return potential than domestic bonds.



Household equity allocations in Japan remain low—12% to 15%—and shareholder-friendly reforms continue to gain steam. With a dividend yield near 2.5% and improving capital efficiency, the models suggest real returns of 5–6%, with nominal returns around 6.5–7.5% annually. If capital flows accelerate, those numbers could improve.



Tobin's Q in Japan is close to 1.0, suggesting that market prices are in line with replacement costs. That's a neutral-to-positive valuation signal.



<h1 class="wp-block-heading">Europe: Reasonable Valuations, High Dividends, Undervalued Potential</h1>



Europe sits somewhere between the U.S. and Japan. The CAPE ratio is near 16.5, and earnings yields are strong at 6%. With sovereign yields averaging around 2.8%, the excess CAPE yield is a healthy 3.2%. That's historically consistent with mid-single-digit real returns.



Market cap to GDP across the region is around 85%, and equity allocations remain modest. The dividend yield stands at 3.4%, and valuations are well below U.S. levels. Tobin's Q is also in the 0.9 to 1.0 range—indicating fair to slightly undervalued conditions.



If the EU's capital markets integration efforts gain traction and political risks stay contained, forward nominal returns in the 6.5–7.5% range look reasonable.



<h1 class="wp-block-heading">The Bottom Line</h1>



The data speaks for itself. U.S. stocks are priced for low single-digit returns. Japan and Europe, on the other hand, offer valuation support, earnings power, and structural room to re-rate higher.



Investors who think globally and allocate accordingly may be rewarded not just with diversification but also with better absolute returns.



As always, valuation matters, and the case for going global is stronger than it has been in years.



<h2 class="wp-block-heading">While Markets Fell, ROOT Did This&#8230;</h2>



When most stocks struggled, ROOT followed a post-earnings pattern. Register for and watch <a href="https://events2.benzinga.com/erx-gaps-workshop-may-2025-registration/?utm_campaign=ERxMay&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0510">this free masterclass</a> to see how it works and which stocks might be next. 



Editorial content from our Expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



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The Party In US Stocks Is Over - Invest Here Instead

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) has emerged as the brightest star of the S&amp;P 500 over the past year, but its meteoric rise — up 440% in twelve months and 53% year-to-date through May 9 — is now confronting a valuation wall that even the hardest bulls <a href="https://www.benzinga.com/topic/expert-ideas">are struggling to justify.</a>



<h3 class="wp-block-heading">Is Palantir Trading At Bubble-Like Valuations: How High Is Too High?</h3>



With shares closing at $115 on Friday and peaking at a record $125 this week, Palantir is now trading at 500 times trailing twelve-month earnings, an outlier among all companies in the S&amp;P 500 and Nasdaq 100. 



That's nearly triple the valuation of most AI-linked stocks and more than 14 times higher than tech heavyweights like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), which trade at price-to-earnings ratios of 37x and 32x, respectively.



While many would argue that Palantir is a bet on the future rather than the past, even when factoring in projected earnings, the valuation picture remains extreme.



Palantir trades 190 times forward earnings, raising red flags that the price has disconnected from even the most optimistic projections.



<h3 class="wp-block-heading">Most Expensive S&amp;P 500 Stocks By Trailing P/E</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Company</th><th>P/E (Last Twelve Months)</th></tr></thead><tbody><tr><td>Palantir Technologies Inc.</td><td>484.6x</td></tr><tr><td>Dayforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAY#NYSE">DAY</a>)</td><td>343.5x</td></tr><tr><td>CoStar Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>)</td><td>257.3x</td></tr><tr><td>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>)</td><td>227.6x</td></tr><tr><td>Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>)</td><td>227.2x</td></tr><tr><td>Ventas Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>)</td><td>194.0x</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td><td>164.7x</td></tr><tr><td>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>)</td><td>158.1x</td></tr><tr><td>Digital Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>)</td><td>148.7x</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Most Expensive S&amp;P 500 Stocks By Forward P/E</h3>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Company Name</th><th>P/E (Next Twelve Months)</th></tr></thead><tbody><tr><td>Palantir Technologies Inc.</td><td>189.2x</td></tr><tr><td>Ventas Inc. </td><td>149.8x</td></tr><tr><td>Tesla Inc. </td><td>140.8x</td></tr><tr><td>Digital Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>)</td><td>138.3x</td></tr><tr><td>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</td><td>118.4x</td></tr><tr><td>Axon Enterprise Inc. </td><td>110.6x</td></tr><tr><td>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td><td>92.4x</td></tr><tr><td>Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>)</td><td>86.0x</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">The Bullish Case Still Has A Pulse</h3>



Despite this, investor enthusiasm remains sky-high. The company's ability to secure lucrative defense contracts and its reputation as an artificial intelligence leader has driven continued demand for the stock, even during broader market corrections.



Palantir notably held its ground during the April selloff triggered by the Donald Trump&#8216;s tariff escalation, never breaching its 200-day moving average.



Larry Tentarelli, Chief Technical Strategist at Blue Chip Daily Trend Report, said Palantir &#8220;remains our top-ranked technology sector stock,&#8221; citing its technical strength and AI leadership.



Tentarelli said the recent earnings quarter confirmed their view and suggested any consolidation in the $100–$110 range could offer a new buying opportunity. &#8220;We view this stock as a buy here or on pullbacks,&#8221; he said.



His firm maintains a long position and sees Palantir as dominant in its niche government and commercial AI applications.



<h3 class="wp-block-heading">Palantir&#8217;s Analyst Consensus: Caution Ahead</h3>



Out of 25 accredited analysts covering the stock, only one rates it a &#8216;Strong Buy&#8217; and just three rate it &#8216;Buy&#8217;. The overwhelming consensus is to &#8216;Hold&#8217;, with the median price target 18% below current levels.



Goldman Sachs&#8217; analyst Gabriela Borges, CFA maintained a &#8216;Neutral&#8217; rating this week and raised her 12-month price target to $90, still 22% below the current price.



&#8220;Our positive view of Palantir&#8217;s growth is balanced by longer-term ecosystem risks – the industry moving from peak custom to more off-the-shelf adoption – and the stock&#8217;s premium valuation,&#8221; Borges said.



She highlighted Palantir&#8217;s enterprise value-to-sales multiple at 81x, far exceeding the sector average of 12x, and its growth-adjusted EV/sales ratio (the so-called Rule of 40) at 0.97x, compared to just 0.28x for comparable software companies growing 20% or more.



While fundamentals are struggling to keep pace with price momentum, Palantir's rally shows no immediate signs of collapse. Still, unless earnings growth or profitability scales up dramatically, the company may be heading toward a painful reckoning. Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45319531/cathie-wood">Cathie Wood Says AI Will &#8216;Disrupt The Traditional World Order&#8217; And Replace Search Engines Like Google</a></li>
</ul>



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Palantir's Gravity-Defying Rally Faces Reckoning As Valuation Reaches Danger Zone

<h2 class="wp-block-heading">New On The Block</h2>



Nestlé (SWX: NESN) is trying to offload its premium bottled water biz—including Perrier and S.Pellegrino—for a thirst-quenching 5 billion euros ($5.6 billion), and it's tapped Rothschild to play matchmaker. Reuters, which broke the news, reports that Nestle wants to keep a stake. 



The move comes amid some political backwash in France. Authorities just <a href="https://www.lemonde.fr/en/france/article/2025/05/08/perrier-ordered-to-remove-water-filters_6741040_7.html">told</a> Nestlé to yank microfilters from two Perrier plants, raising eyebrows and maybe a few pH levels. 



Enter One Rock Partners. The firm, which previously helped extract Poland Springs from Nestlé in 2021 and now owns Primo Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRMB#NYSE">PRMB</a>), is expected to make an offer. 



The deal comes as water scarcity intensifies globally. According <a href="https://www.worldwildlife.org/stories/water-scarcity-8-facts-you-need-to-know">to</a> the World Wildlife Fund, over two billion people lack safe drinking water, and some projections show up to 2.4 billion facing urban shortages by 2050.



Other companies up for sale include:



<ul class="wp-block-list">
<li>Hellman &amp; Friedman has kicked off a sale process for Enverus, a Texas-based energy software firm. The deal is expected to fetch around $6 billion. The private equity firm is working with Citi on the sale, which Reuters reports has drawn interest from both other PE firms and strategic buyers.</li>
</ul>



<ul class="wp-block-list">
<li>Speedcast is exploring the sale of its ground stations business. The transaction price could exceed $1 billion, according <a href="https://www.bloomberg.com/news/articles/2025-05-08/speedcast-is-said-to-mull-breakup-sale-of-ground-stations-unit?srnd=phx-deals&amp;sref=TBDibEcD">to</a> Bloomberg. Backed by Centerbridge Partners, the Houston-based satellite communications firm is working with an adviser and plans to run three separate auctions covering its services, infrastructure and government-focused units. Speedcast's ground stations enable it to deliver internet via satellite to clients like cruise lines and maritime shippers across its five business segments.</li>
</ul>



<ul class="wp-block-list">
<li>UBS Group AG is in talks to sell its hedge fund unit, O'Connor, to Cantor Fitzgerald LP, after over 30 years of ownership. The deal may include a revenue-sharing agreement, allowing UBS to receive a portion of future proceeds, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-05-08/ubs-in-talks-to-sell-hedge-fund-o-connor-to-cantor-fitzgerald?sref=TBDibEcD">reported</a>. This move comes as UBS looks to shed riskier assets in light of stricter Swiss regulations that could require up to $25 billion in additional capital. O'Connor, originally a Chicago-based derivatives firm acquired in 1992, had $16.5 billion in regulatory assets under management as of December.</li>
</ul>



<h2 class="wp-block-heading">Updates From The Block</h2>



<ul class="wp-block-list">
<li>OpenAI has agreed to buy Windsurf, an artificial intelligence-assisted coding tool, for about $3 billion, <a href="https://www.bloomberg.com/news/articles/2025-05-06/openai-reaches-agreement-to-buy-startup-windsurf-for-3-billion?sref=TBDibEcD">reported</a> Bloomberg. The deal hasn't closed yet. If successful, it positions OpenAI to better compete in the growing market for AI-powered coding assistants, where rivals like Anthropic, GitHub, and newer startups like Anysphere are gaining traction. Windsurf, also known as Exafunction Inc. and previously as Codeium, was recently valued at <a href="https://www.benzinga.com/25/05/45224667/microsoft-backed-openai-buys-windsurf-for-3-billion-to-strengthen-ai-coding-power">$3 billion</a>.</li>
</ul>



<ul class="wp-block-list">
<li>VivoPower International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VVPR#NASDAQ">VVPR</a>) announced that Energi Holdings has completed the first phase of due diligence for its proposed $180 million takeover. Energi, a global energy firm based in Abu Dhabi with $1 billion in annual revenue, will now move to an accelerated second phase focused on regulatory matters. Folks involved expect the deal to conclude by June 2.</li>
</ul>



<ul class="wp-block-list">
<li>Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) is <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45287050/coinbase-acquires-deribit-in-2-9b-deal-to-expand-crypto-derivatives-business">acquiring crypto options exchange</a> Deribit in a $2.9 billion cash-and-stock deal, aiming to become the largest crypto derivatives platform by open interest and volume. The deal includes $700 million in cash and 11 million Coinbase Class A shares. It&#8217;s expected to close by year-end, pending regulatory approval. Deribit processes over $1 trillion in annual trading volume and has $30 billion in open interest, mainly from institutional clients. This is the latest in a string of acquisitions by Coinbase. It follows past purchases like Xapo (custody), Tagomi (prime brokerage), FairX (futures exchange) and One River Digital (asset management).</li>
</ul>



<ul class="wp-block-list">
<li>Pershing Square's Bill Ackman wants to turn Howard Hughes Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>) into a <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43799342/bill-ackman-following-warren-buffett-hedge-funder-promises-modern-day-berkshire-hathaway-with-latest-transaction">&#8220;modern-day Berkshire Hathaway.&#8221;</a> On Monday, Pershing Square announced plans to invest $900 million in the real estate company Howard Hughes. Ackman&#8217;s firm will purchase 9 million shares for $100 each, representing a stake of 46.9%. The investment will allow Howard Hughes to acquire controlling stakes in companies while continuing to invest in <a href="https://www.benzinga.com/25/05/45199902/bill-ackman-strikes-deal-to-form-mini-version-of-berkshire-hathaway-a-free-money-generating-company-he-wouldnt-bet-against">real estate</a>.</li>
</ul>



<h2 class="wp-block-heading">Off The Block</h2>



<ul class="wp-block-list">
<li>WhiteHawk Income Corp. will acquire PHX Minerals Inc. in a deal that values PHX at about $187 million including debt. The acquisition adds 1.8 million gross unit acres of natural gas mineral and royalty assets to WhiteHawk. It also enters the SCOOP/STACK region in Oklahoma.</li>
</ul>



<ul class="wp-block-list">
<li>FiscalNote Holdings Inc. agreed<a href="https://www.benzinga.com/pressreleases/25/05/b45190351/fiscalnote-signs-definitive-agreement-to-divest-additional-non-core-asset-to-further-streamline-co" target="_blank" rel="noreferrer noopener"> to sell</a> its Australian subsidiary, TimeBase, to Thomson Reuters Corporation. FiscalNote acquired TimeBase in 2021. The divestiture is part of FiscalNote&#8217;s effort to streamline operations, reduce debt, and refocus on its core strengths—particularly the enhanced PolicyNote platform, which will continue serving clients in the Australian market. Proceeds from the sale will be used to pay down the <a href="https://www.benzinga.com/25/05/45197222/fiscalnote-sells-timebase-to-thomson-reuters-for-65m-as-it-sharpens-focus-and-reaffirms-2025-outlook">company&#8217;s senior-term loan</a>.</li>
</ul>



<ul class="wp-block-list">
<li>Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) agreed to acquire Parkland Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PKIUF#OTC">PKIUF</a>) in a deal valued at approximately $9.1 billion, including debt. The transaction, announced Monday, <a href="https://www.benzinga.com/pressreleases/25/05/n45190343/sunoco-lp-to-acquire-parkland-corporation-in-transaction-valued-at-9-1-billion">involves a mix of cash and equity </a>and will create a new entity called Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>). Shares were <a href="https://www.benzinga.com/premarket">trading lower</a> on Monday after the company agreed to acquire Parkland Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PKIUF#OTC">PKIUF</a>) in a deal valued at approximately $9.1 billion, including debt. SUNCorp, LLC. Parkland operates as a major fuel distributor and convenience retailer across 26 countries in the Americas. With around 4,000 locations, it serves consumers and businesses with fuel and energy solutions, including renewables, EV charging and <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45194533/sunoco-fuels-up-with-9-1b-parkland-deal-eyes-10-cash-flow-bump">carbon credit options</a>.</li>
</ul>



<h2 class="wp-block-heading">Bankruptcy Block</h2>



WW International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WW#NASDAQ">WW</a>) just put its financial strategy on a strict plan of its own. The company, known as WeightWatchers, announced a "pre-packaged" Chapter 11 reorganization that will eliminate a chunky $1.15 billion in debt. The goal? To slim down its liabilities and sprint toward long-term growth—no crash diets involved.



WeightWatchers insists it's business as usual. Members won't notice a thing—no plan changes or vanishing telehealth sessions. The company's holistic model (including doctor-recommended programs and prescription support) stays fully operational during the reorganization.



Backed by 72% of its lenders, the 62-year-old brand expects a speedy exit in about 45 days—faster than most people's post-holiday detox.



CEO Tara Comonte says this financial cleanse is all about building muscle for innovation, with a focus on digital upgrades and expanding WW&#8217;s fast-growing telehealth biz, which bulked up by 57% in Q1 2025 alone.



Weight loss drugs like Ozempic and Wegovy, both from Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), likely disrupted WeightWatchers&#8217; traditional business model.



<a href="https://www.benzinga.com/ma/25/05/45177095/deal-dispatch-chef-boyardee-crumbl-buyers-bankruptcies">For last week&#8217;s edition of Deal Dispatch, click here</a>.

COIN

PKIUF

PRMB

VVPR

Deal Dispatch: Nestlé, Coinbase, OpenAI Lead Diverse M&A Lineup As WeightWatchers Goes Bankrupt

Tech investor and CEO of ARK Invest, Cathie Wood, on Friday re-emphasized her bullish calls on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). However, Wood shed some light on potential headwinds ahead for Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)<a href="https://www.benzinga.com/25/05/45274539/cathie-wood-strengthens-ai-chip-holdings-with-nvidia-and-amd-purchases-reduces-palantir-position-by-another-38-8-million"> and Alphabet, Inc. </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>). 



PLTR: ARK Invest has been reducing its position in Palantir across its portfolio funds, selling nearly $80 million worth of shares this week alone. Palantir is now Ark&#8217;s fifth-largest holding, making up 6.62% of the portfolio with a total value of $324.4 million.



Read Next: <a href="https://www.benzinga.com/general/health-care/25/05/45305392/unitedhealth-investors-claim-company-hid-profit-impact-of-ceos-murder?utm_source=articleShare">UnitedHealth Investors Claim Company Hid Profit Impact Of CEO&#8217;s Murder</a>&nbsp;



In a Friday morning interview on CNBC's Squawk Box, Wood said Palantir's government business remains strong and its "commercial business is on fire." However, she warned that Europe could be a threat to the company's remarkable growth if the EU moves further into the AI space.&nbsp;



GOOG: The disruptive tech investor pointed to artificial intelligence as a force that will "disrupt the traditional world order" and predicted that everyone will have an AI-powered personal assistant in the future. Wood said that humans using a search engine to find information will become a thing of the past as the "assistants will do much of the walking for us."&nbsp;



Referencing an Apple executive's comments on AI replacing search engines earlier this week, Wood said that it comes as "no surprise" that large language models are already taking<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45288753/google-at-staggering-42-discount-to-sp-500-after-150-billion-value-dive"> market share</a> from Google.&nbsp;



Read Next: <a href="https://www.benzinga.com/general/travel/25/05/45260938/disneys-new-abu-dhabi-theme-park-will-be-authentically-disney-and-distinctly-emirati-ceo-bob-iger-says?utm_source=articleShare">Disney&#8217;s New Abu Dhabi Theme Park Will Be &#8216;Authentically Disney And Distinctly Emirati,&#8217; CEO Bob Iger Says&nbsp;</a>



BTC: Wood reiterated ARK Invest's bitcoin thesis with a base case scenario of $750,000 and a bull case of bitcoin reaching $1.5 million by 2030.&nbsp;



Limited supply, emerging markets use case and institutions continuing to move into bitcoin will drive the price of bitcoin higher, she predicted.&nbsp;



"We still have miles to go," Wood said as bitcoin traded around $103,000 Friday morning after reclaiming the $100,000 level on Thursday.&nbsp;



TSLA: Wood has long been a Tesla bull and on Friday<a href="https://www.benzinga.com/news/large-cap/25/03/44537429/cathie-wood-doubles-down-on-2600-tesla-stock-price-prediction"> she again</a> doubled-down on her call for the Elon Musk-led company to reach $2600 per share within the next five years.&nbsp;



She added that the $2600 Tesla price target does not include revenue from humanoid robots which Wood pegged as a $26 trillion revenue opportunity.&nbsp;



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/legal/25/05/45226604/president-trump-wants-to-reopen-alcatraz-heres-what-it-would-take?utm_source=articleShare">President Trump Wants To Reopen Alcatraz: Here&#8217;s What It Would Take</a></li>
</ul>



Photo: ChrisStock82/Shutterstock

Markets

Cathie Wood Says AI Will 'Disrupt The Traditional World Order' And Replace Search Engines Like Google

Increasing pressure from rising borrowing costs could soon force Washington to scale back its protectionist stance. Bank of America's chief investment strategist Michael Hartnett predicts that tariffs will decline this quarter to avoid destabilizing the massive <a href="https://www.benzinga.com/topic/michael-hartnett">U.S. debt funding machine.</a>



In a note shared Friday, Hartnett said the U.S. trade deficit hit a record $140 billion in March, highlighting decades of structural imbalances that have pushed American policymakers toward a protectionist posture. 



Yet, despite that deficit, the U.S. has long benefited from a financial account surplus — meaning it has consistently attracted more foreign capital than it sends abroad.



See Also: <a href="https://www.benzinga.com/25/05/45312253/us-stocks-trade-mixed-after-three-day-gain-as-us-uk-strike-trade-deal-tariffs-are-steering-the-boat-again-says-expert">US Stock Futures Flicker Between Gains And Losses After Strong Three-Day Run: &#8216;Tariffs Are Steering The Boat Again,&#8217; Says Expert</a>



<h3 class="wp-block-heading">A Tipping Point For Trade Policy?</h3>



"The flipside of big deficit… big $540 billion foreign inflows to U.S. assets past 5 years," Hartnett said, underscoring how the U.S. has been able to finance its deficits through global investor demand.



Yet that flow of funds is now at risk. Hartnett warned that the inflationary impact of tariffs, especially those imposed on April 2's "Liberation Day," combined with a weakening dollar, could force U.S. bond yields above 5%, a level that would jeopardize the long-standing strategy of deficit-financed growth.



"Nothing reverses U.S. macro policy more quickly than risk of &gt;5% Treasury yields… why tariffs to fall in Q2," he said.



<h3 class="wp-block-heading">Foreign Capital: Still Flowing, But Vulnerable</h3>



Since the latest tariff announcements, there has been no clear sign of widespread dumping of U.S. assets. 



Domestic institutions sold $10.3 billion, but foreign investors bought $4.5 billion, according to Bank of America data.



Still, the stakes are enormous. Foreign investors currently hold $16 trillion in U.S. stocks (18% of total), $8.5 trillion in Treasuries (33%), and $4.4 trillion in corporate bonds (27%), based on Federal Reserve Flow of Funds data.



A sustained spike in yields could scare off that capital, threatening a vicious cycle of higher interest rates and rising debt costs.



Hartnett reiterated his 2025 strategy playbook: bonds over stocks, international over U.S. equities, and gold over the dollar. That thesis, he said, rests on a shift away from the "U.S. exceptionalism" narrative of the past five years — a period that saw nominal GDP rise 50%, fueled by aggressive government spending and easy Fed policy.



Now, with no more Fed cuts, government spending growth flatlining — only rising $50 billion next fiscal year vs. $827 billion over the past year – and Trump's potential policy mix of lower immigration, smaller government, and tariffs, the macro environment is rapidly changing.



Even if the U.S. cuts its effective tariff rate from 28% to 15%, that still implies $600 billion in new tariff revenue due to the expanded base, according to Hartnett. 



<h3 class="wp-block-heading">What&#8217;s Next For Markets?</h3>



Equities, Hartnett said, have already "correctly front-run" the expected second-quarter trade deals and tariff rollback, suggesting a potential near-term "buy the rumor, sell the fact" dynamic. 



Since April 7 lows, the S&amp;P 500 — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — has rallied 17%.



Meanwhile, the expert favors short positions on the dollar, and long 5-year Treasuries until Trump's GOP reconciliation budget formalizes future tax extensions.



He still sees the &#8220;macro catalysts&#8221; — China easing, Fed cuts, and a strong U.S. consumer — as the key forces behind any further bull run. But on the flip side, he warns that deleveraging contagion in asset markets could emerge as the most likely bear trigger, especially if Trump and Powell "lose the long end" of the yield curve.



Yields on the 30-year Treasury bond traded at 4.87% during Friday morning trading in New York. 



Now Read: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45311562/mohamed-el-erian-flags-adverse-implications-for-domestic-industries-as-chinas-exports-rise-8-despite-21-drop-in-us-shipments">Mohamed El-Erian Flags &#8216;Adverse Implications&#8217; For Domestic Industries As China&#8217;s Exports Rise 8% Despite 21% Drop In US Shipments</a></li>
</ul>



Image: Shutterstock

Broad U.S. Equity ETFs

Treasuries

ETFs

5% Treasury Yields Could Force Trump To Slash Tariffs In Q2, Says BofA's Hartnett

Wall Street traded slightly lower by midday Friday, as investors adopted a wait-and-see stance ahead of a potential trade breakthrough, with high-stakes negotiations between U.S. officials—led by Treasury Secretary Scott Bessent—and Chinese authorities set to <a href="https://www.benzinga.com/topic/tariffs">unfold over the weekend.</a>



President Donald Trump signaled that tariffs on Chinese goods could be slashed from the current 145% to 80%, though that figure remains significantly higher than pre-Liberation Day levels, prompting continued caution among market participants.



Equities gave back a portion of Thursday's gains as sentiment turned more defensive, while gold rebounded 1% to $3,330 per ounce, partially offsetting losses from the previous session.



Oil prices extended their rally, climbing further above $60 a barrel amid an improved global demand outlook, putting crude on track for its strongest weekly performance since late 2024. Natural gas followed suit, with Henry Hub futures rising 4.4%.



In fixed income, Treasury yields held steady, with the 10-year yield hovering around 4.37%.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) took a breather after Thursday's 6.4% surge, trading just above $102,500.



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg %</td></tr><tr><td>S&amp;P 500</td><td>5,650.98</td><td>-0.2%</td></tr><tr><td>Nasdaq 100</td><td>20,003.04</td><td>-0.3%</td></tr><tr><td>Russell 2000</td><td>2,017.97</td><td>-0.4%</td></tr><tr><td>Dow Jones</td><td>41,179.33</td><td>-0.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:10 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.2% lower to $563.80.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.4% to $412.10.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.2% to $487.38.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.3% lower to $200.54.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.9%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>



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



Stocks reacting to earnings reports included: 



<ul class="wp-block-list">
<li>McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) up 0.48%</li>



<li>Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) up 2.02%</li>



<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) down 2.28%</li>



<li>TKO Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKO#NYSE">TKO</a>) down 4.10%</li>



<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) up 10.44%</li>



<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) up 5.83%</li>



<li>Ubiquiti Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UI#NYSE">UI</a>) up 14.64%</li>



<li>Rocket Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) down 2.32%</li>



<li>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) up 20.81%</li>



<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) down 7.75%</li>



<li>Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) up 1.29%</li>



<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) down 7.90%</li>



<li>EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) up 2.77%</li>



<li>Starwood Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STWD#NYSE">STWD</a>) up 0.29%</li>



<li>Essent Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESNT#NYSE">ESNT</a>) down 1.45%</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45317301/5-treasury-yields-could-force-trump-to-slash-tariffs-in-q2-says-bofas-hartnett">5% Treasury Yields Could Force Trump To Slash Tariffs In Q2, Says BofA&#8217;s Hartnett </a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

Commodities

AKAM

ESNT

EXPE

LPLA

MCHP

MNST

PODD

SATS

STWD

Stocks Slip As Gold Rebounds To $3,330, Bitcoin Holds $102,000: What's Driving Markets Friday?

Despite last week&#8217;s market rally, which saw US markets recover losses since President Trump&#8217;s <a href="https://www.benzinga.com/25/04/44756759/new-research-shows-donald-trumps-25-tariffs-could-cost-auto-companies-108billion-report">tariff announcement </a>in early April, American stocks are still underperforming their European counterparts.



The S&amp;P 500 has rallied 12.5% since Trump's reciprocal tariffs <a href="https://www.benzinga.com/25/04/44729384/trump-pauses-tariffs-after-yields-surge-bond-vigilantes-hit-another-homerun-experts-point-to-bond-market-panic-for-reversal">were paused</a>, but the Vanguard Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGK#NYSE">VGK</a>) is up over 18% in the same timeframe. Despite the ‘Sell America' trade losing some steam, investors still seem to prefer European equities to US equities.



Of course, this surge in European stocks has left most big-name European investments at high valuations. But that doesn&#8217;t mean there are no more good stocks to buy across the Atlantic.



Today, we&#8217;re looking at five European stocks that haven&#8217;t rallied as much as their peers but are still undervalued and have room to run.



Each one ranks high on Benzinga Edge&#8217;s Value rankings, too.



These firms all have a Price-to-Earnings (P/E) ratio under 15, a minimum Benzinga Edge Value score of 85, and sales growth of at least 10% over the last five years. Note that many of these companies trade in the US using securities like American Depository Receipts (ADRs), which function as proxies to international equities but have some differences investors should familiarize themselves with before buying.



<h2 class="wp-block-heading">Equinor ASA</h2>



Benzinga Edge Value Score: 93.23



Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) is a fully integrated oil and gas company based in Norway. It has a $63.6 billion market cap and a P/E ratio of 7.31. The Norwegian government owns a 67% stake in the firm, but its shares trade on the New York Stock Exchange and European exchanges. Equinor mines for oil on the Norwegian Continental Shelf and also operates solar, wind, and natural gas refineries.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe9uPC-lJJzFwPSnbTtP5iOa07AApLaHwDVkx3cgQuDwKxkHYYa2lO-9RTR3f16_dikQs_Z3g7lEHrZQy37gWEx79XB6beJnFDwFBMHuGufDDUdQTUnPT_2t2tJ8TyStw0zNFdTng?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Equinor&#8217;s revenue has expanded for the last three quarters, the first time it has seen revenue growth in three consecutive quarters since 2022. Despite the recent slowdown, Equinor has grown sales at a 21% clip over the last five years, and its dividend currently yields over 6%. A recent earnings miss caused the stock to drop, but the decline ended at the same level as a previous drawdown, indicating a potential bottom and possible entry point.



<h2 class="wp-block-heading">Adecoagro SA&nbsp;</h2>



Benzinga Edge Value Score: 91.79



With a ticker like that, you can probably guess the industry—Adecoagro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGRO#NYSE">AGRO</a>) is a small-cap agricultural firm headquartered in Luxembourg with operations primarily in South America. Although its market cap is under $1 billion, it posted $1.45 billion in revenue over the last 12 months and has grown sales by 13% in the previous five years.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcnBdbVblawYAfq6oDU5lbM73vfH85oa82lcWlDQj5q3E0kpFdS3RICq_NqKfr0LPWMpw4LFPSaeOlOITBfhsBBen5KOQW0f8TCkmyW4VAmalQUR7o_a54X1DufAY_0MnQWYK0zgQ?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



AGRO shares have a P/E ratio of 9.49 and trade at just 0.60 times sales, but recent downgrades from Morgan Stanley and Bank of America sent the stock plunging under $9 per share. It is trading near its 52-week low, but the Relative Strength Index (RSI) is in oversold territory, indicating this selloff might be petering out.



<h2 class="wp-block-heading">Global Ship Lease Inc.&nbsp;</h2>



Benzinga Edge Value Score: 96.89



Global Ship Lease (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) is a Greek-based container shipping line with over 60 ships and a market cap of around $760 million. Most of the company's business comes from MAERSK charters, and its sales have grown by 24% over the last five years. It currently trades with a P/E ratio of just 2.28 with a Price-to-Book value of 0.52.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfOgyaKxvTPC7jixULOPzcVWRVCZC1_kwpZ-pTnfsWfxzIDQ13pdnSZ7oqHHVvR9xR-A7-LPUPNfNNYBTvMRWXt-1VEhuKJNSNFuA-cUOlLkoV4hR-BjNqSISDSSX_3ZUAeULmr_Q?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Investing in a shipping company seemed risky once the reciprocal tariff chart was released, and GSL shares plummeted in the days following Trump's Rose Garden announcement. But the stock has rebounded in the weeks following the pause, including a rally that saw eight green candles in nine days. GSL has boosted revenue in six of the last seven quarters as well. Its profit margins are approaching 50%. Jeffries is the only research firm with a rating on the stock, but it&#8217;s a Buy with a price target of $29, indicating an upside of over 35%.



<h2 class="wp-block-heading">Tenaris SA&nbsp;</h2>



Benzinga Edge Value Score: 87.64



Tenaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TS#NYSE">TS</a>) resides in the energy sector and produces goods used in oil and gas well construction. The company is based in Luxembourg but has operations in the United States, Argentina, Mexico, and Italy. Tenaris builds some of the most resilient tubular goods used in deep-water and horizontal shale wells.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXepep04kxFz5LigOCKkOFTi_Jcao2DZdJkX_HHkYojkCFq8T8MpSe8B2L6nLoHqsJPJr_Zo7zNlybBiY5ztH0IaQWhsyfrz0j42D9UlCkiuz0cMuuXT4RQPoO0i1e-Cg4k-x6jriA?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Tenaris is a large-cap firm in the oil and gas space with an $18 billion market cap and $12 billion in annual sales. The company has grown sales by 17.7% over the last five years, but revenue has declined recently. Profit margins have dipped from 26% in December 2023 to 15% in the most recent report in March. The stock fell below the 50-day and 200-day SMAs following the Rose Garden press conference, but the steep decline triggered an oversold reading on the RSI, and shares currently trade at just 9.5 times forward earnings. 



<h2 class="wp-block-heading">Stellantis NV&nbsp;</h2>



Benzinga Edge Value Score: 97.56



A car manufacturer like Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) might seem like a bold investment choice in a trade war. The company makes popular American brands like Dodge, Jeep, and Ram. However, only 26% of Stellantis's 2024 sales occurred in North America, and the company does nearly 50% of its business in Europe, providing some level of tariff protection. Stellantis made more than $169 billion in sales over the last 12 months with income of $5.92 billion.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcIzUAo3AZPVu8UKpGTgkdqpIuMjcVaF-M0OOtPDRxN3cet_4mwFsaLpd-gsOEsoQaF-T5fNXFAFCIhfmKGc89IlU-kM5-nZ3QLXtdyk7PAylOfuFCCTpfxAVmP85hQPqQgH3rYQg?key=K8dCG8bnYTHY9lvM_fV4Pg" alt=""/></figure>



Car manufacturers like Stellantis have been some of the hardest hit stocks during the tariff tumult; its shares are down more than 28% year-to-date. However, it might be an opportune time to take a position in the stock as Stellantis is a large-cap company with a significant global presence. The company grew revenue by 33.6% over the last five years and trades at its cheapest valuation in years at just 4.8 times earnings and 0.16 times sales. The stock also pays a 6% dividend yield with a 36% dividend payout ratio, offering income as well as stock price appreciation. And with the RSI triggering an oversold signal, a momentum reversal could be coming soon.



<h2 class="wp-block-heading">The Market's Out of Control – You Don't Have to Be</h2>



Seize back control with Benzinga Edge – your investment command center. With real-time portfolio alerts, actionable stock ideas, and pro-grade tools…you get the complete investor's arsenal — ready to help you profit in any market. Take Back Control Now – Get Your Edge <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/?el=ResearchDaily&amp;he=%7B%7Bemail%7D%7D&amp;adt_ei=%7B%7Bemail%7D%7D&amp;utm_adType=SponsorAd&amp;utm_ad=RD0508&amp;utm_campaign=commandcenter">HERE</a>



Editorial content from our Expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

AGRO

EQNR

STLA

5 European Stocks Rated High On Our Value Rankings

Prominent economist Mohamed A. El-Erian has highlighted potential &#8220;adverse implications&#8221; for domestic industries following a surprisingly strong surge in China&#8217;s exports for April. In a post on X, El-Erian noted that China&#8217;s exports jumped by 8% in April, significantly exceeding the consensus forecast of 2%.



What Happened: This robust growth occurred even as China experienced a substantial 21% drop in sales to the United States, a key trading partner. El-Erian&#8217;s analysis suggests that this export surge is being fueled by China&#8217;s strategic redirection of its goods to other countries.



&#8220;This surge comes as China redirects more of its exports to other countries, which is likely to exacerbate concerns about the adverse implications for certain domestic industries,&#8221; El-Erian stated in his X post.



El-Erian&#8217;s commentary points out that Chinese goods are entering new markets, as they navigate reduced demand from the U.S. According to him, this could put significant pressure on local producers.



This is likely to lead to increased competition, potentially impacting pricing, market share, and the overall viability of certain domestic industries.



<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">China's exports surged by 8% in April, above the consensus forecast of 2% and despite a 21% drop in sales to the US. This surge comes as China redirects more of its exports to other countries, which is likely to exacerbate concerns about the adverse implications for certain…&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1920732107678110056?ref_src=twsrc%5Etfw">May 9, 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/general/market-summary/25/05/45251508/warren-buffett-falls-behind-nancy-pelosi-in-stock-market-returns-over-the-last-11-years-heres-what-data-shows">Warren Buffett Falls Behind Nancy Pelosi In Stock Market Returns Over The Last 11 Years: Here&#8217;s What Data Shows</a>



Why It Matters: The redirection of Chinese exports is likely a consequence of ongoing trade tensions and geopolitical factors influencing the relationship between China and the United States.



As the U.S. seeks to reduce its reliance on Chinese goods in certain sectors, China appears to be actively seeking and expanding its trade relationships with other nations.



However, the U.S. and China agreed to hold <a href="https://www.benzinga.com/25/05/45242461/donald-trumps-trade-war-sparks-first-major-us-china-talks-scott-bessent-jamieson-greer-to-meet-chinese-delegation-in-geneva">high-level trade talks</a> in Switzerland this weekend, their first major meeting since President Donald Trump initiated the trade war. The meeting comes amid growing U.S. market concerns over tariff impacts. 



Price Action: 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, rose on Thursday. The SPY ended 0.70% higher at $565.06, while the QQQ advanced 1.03% to $488.29, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



On Friday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 advanced during the trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45283497/federal-reserve-will-be-the-last-to-cut-says-expert-anticipating-4-cuts-in-2025-a-thaw-in-us-china-trade-dispute-is-good-news">Federal Reserve &#8216;Will Be The Last To Cut&#8217; Rates, Says Expert Who Still Expects Four Cuts In 2025</a></li>
</ul>



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



Image Via Shutterstock

Macro Notification

General

Mohamed El-Erian Flags 'Adverse Implications' For Domestic Industries As China's Exports Rise 8% Despite 21% Drop In US Shipments

If you have been around the energy markets long enough, you know crude oil has a flair for the dramatic.



When it sells off, it does not just trickle down; it falls off a cliff.



The rebound is vicious, fast and usually overdue when it finally wakes up. The trick, as always, is understanding the cycles, not panicking in the downtrend, and positioning for the inevitable rebound.



That is especially true for one of my favorite corners of the energy market: mineral royalty trusts and non-operator oil and gas interests. These are the little guys who do not drill a thing but still get paid when the oil flows.



All this is happening again right now. 



It's setting you up for the best income trade in a decade.



Let us walk through the big oil busts of the last few decades in the late 1990s: the 2008 crash, the 2014 to 2016 wipeout, and, of course, the COVID collapse of 2020.



I want to talk about what happened, how long sentiment stayed sour and what eventually got prices off the mat. Then, we will dig into what all that meant for the royalty trusts and non-operators and how their dividends held up (or not), how the market treated them, and what happened when oil came roaring back.



<h2 class="wp-block-heading">1998: The Asian Flu And The $10 Barrel</h2>



In the late 1990s, OPEC had a problem. They pumped too much oil, thinking Asia would keep consuming it. However, when the Asian financial crisis hit, demand cratered, inventories ballooned, and prices dropped like a rock.



Brent went as low as $10, and nobody wanted to touch an oil stock with a ten-foot pole.



Royalty trusts got smashed. Cash flows dried up, distributions were cut, and unit prices plunged. Investors were left staring at trailing yields in the teens, but those payouts were not sticking around.



Most trusts saw 50% or more wiped off their market capitalizations. However, by late 1999, OPEC got its act together and cut production. Inventories fell, demand slowly came back, and oil doubled. Royalty trust distributions rebounded quickly, and anyone who had the courage to buy when it all looked hopeless got rewarded in a big way.



<h2 class="wp-block-heading">2008: Peak Oil Euphoria Meets Lehman Brothers</h2>



By mid-2008, oil was $147 a barrel and people were chanting "peak oil" like it was gospel.



Then, the financial system imploded.



Demand evaporated, oil crashed to $30 and panic spread. Trust distributions went over the cliff.



Sabine Royalty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBR#NYSE">SBR</a>) cut payouts by more than 50% in a single month.



Prices followed. These income names saw unit values drop 70% or more.



Yields were sky-high on paper, showing 20% or even 30%, but those were based on past payouts that had already been slashed. For most of 2009, distributions were a shadow of their former selves.



However, when the smoke cleared, oil demand returned, OPEC slashed production, and oil started climbing again. Trust distributions bounced, unit prices doubled or tripled off the lows and yields normalized in the high single digits.



Patience paid off.



<h2 class="wp-block-heading">2014 To 2016: The Shale Tsunami</h2>



This one was different. It was not a demand crash. It was too much U.S. shale oil.



OPEC got tired of losing market share and let prices fall from $115 in mid-2014 to under $30 by early 2016. Oil was in freefall for almost two years.



That stretched the pain out.



It was Drill, Baby, Drill Gone Bad, The Prequel.



Royalty and non-op names bled out slowly. Distributions did not collapse all at once&#8230;they just shrank quarter by quarter.



Permian Basin Royalty Trust's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBT#NYSE">PBT</a>) payout dropped by two-thirds.



PrairieSky (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PREKF#OTC">PREKF</a>) and Freehold slashed their dividends.



The market priced them accordingly.



Yields dropped, unit prices got hammered, and by 2016, it was hard to find anyone still bullish.



Then OPEC and Russia teamed up and finally cut production in late 2016.



By 2017, oil was back in the $60s, and royalty trusts started increasing dividends again.



Trusts that had lost 70% of their value doubled or more over the next 18 months. Investors who stayed the course got paid.



<h2 class="wp-block-heading">2020: The Pandemic Panic And Negative Oil Prices</h2>



Then came COVID. Demand did not just shrink. It vanished.



Planes stopped flying, cars stopped driving, and suddenly, the world was drowning in oil.



Saudi Arabia and Russia decided to have a price war on top of it all, and in April 2020, WTI futures went negative.



Royalty trusts had a rough time. Distributions were suspended.



Permianville (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVL#NYSE">PVL</a>) went 13 months without a single payout.



PrairieSky slashed its dividend by two-thirds.



Investors fled. Unit prices dropped 60% to 80% in weeks.



Trailing yields? Meaningless. Nobody was paying anything.



However, it did not last.



OPEC+ made historic cuts.



Demand started recovering.



When vaccines arrived in late 2020, the game changed. By mid-2021, Permianville was paying again. PrairieSky and Freehold started raising dividends.



Share prices doubled or tripled.



By 2022, Sabine's distribution hit $8.65, a monster rebound.



<h2 class="wp-block-heading">What It All Means</h2>



These downturns tell the same story every time: oil crashes, royalty and non-operator income disappear, and the market throws these stocks in the trash. Yields spike on trailing numbers, then vanish when dividends get cut. Sentiment stays ugly for too long.



However, when the oil price recovers, and it always has, these names come back fast. Distributions climb, unit prices follow, and investors who bought when everyone else was scared end up with huge yields on cost and big capital gains.



They are not for the faint of heart. You have to be willing to hold when there is blood in the oil patch.



It's a pain trade.



However, if you buy these things when oil is hated and the checks have stopped, you set yourself up for some of the most explosive total returns in the market.



This is deep value investing, oilfield-style.



And now, it's happening again.



Read the headlines:



<ul>
<li>OPEC is going to increase production.</li>



<li>Oil demand forecasts are being cut.</li>



<li>The much more energy-efficient AI from China will slash demand even further.</li>



<li>Nuclear energy plants are going to pop up like mushrooms with no regulatory delays or cost overruns and be built faster than Buc-ee's.</li>



<li>China will never import another drop of oil.</li>
</ul>



Negative sentiment is building, we&#8217;ve seen some distribution cuts and optimism is harder to find than a good book in a Blockbuster.



Royalty trusts and nonowner operators may go down before they go up, but when they do, they are going to go up a lot.



Those who buy in scale, with patience and a dash of courage, will be well rewarded.



<h2 class="wp-block-heading">Risk, Reward &amp; Reversals: Tactical Options Strategies for an Unstable Market</h2>



When markets get unpredictable, disciplined options strategies can give you an edge. Join Ryan Faloona, Anne-Marie Baiynd and Tim Melvin live on May 6 to learn how they're using risk reversals, 0DTE plays, and hedging tactics to stay nimble and generate income. Save your spot now to learn how to trade smarter this week.



Editorial content from our Expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

PREKF

OPEC Just Created The Income Trade Of The Decade

U.S. stock futures fluctuated between gains and losses on Friday, following a three-day winning streak. Major benchmark index futures were mixed in premarket trading.



The U.S. and U.K.<a href="https://www.benzinga.com/25/05/45293839/trump-starmer-strike-us-uk-trade-deal-steel-cars-beef"> sealed a bilateral trade deal</a>, cutting tariffs, boosting industrial ties, and securing billions in new market access. 



A central component of the trade agreement involves the U.S. significantly reducing tariffs on cars made in the UK, bringing them down from 25% to 10% and establishing an annual quota of 100,000 vehicles.



The U.K. will eliminate tariffs on American-made cars, including those from General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and expedite their passage through customs.



Meanwhile, the 10-year Treasury bond yielded 4.37% and the two-year bond was at 3.86%. 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 an 82.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.15%</td></tr><tr><td>S&amp;P 500</td><td>0.07%</td></tr><tr><td>Nasdaq 100</td><td>0.17%</td></tr><tr><td>Russell 2000</td><td>-0.23%</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 slightly higher in premarket on Friday. The SPY was up 0.004% to $565.08, while the QQQ advanced 0.17% to $489.10, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Industrials, consumer discretionary, and energy sectors led a<a href="https://www.benzinga.com/news/earnings/25/05/45311238/dow-surges-250-points-after-us-announces-first-trade-deal-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone"> broad market rally on Thursday</a>, propelling U.S. stocks higher. The Dow Jones was bolstered by the Donald Trump administration&#8217;s inaugural major trade agreement with the United Kingdom.



However, the health care and utilities sectors diverged from the positive trend, closing lower.



On the company-specific front, U.S. Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) reported first-quarter earnings that fell short of expectations, while Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) shares surged by 42% following the company&#8217;s release of better-than-anticipated first-quarter results and an upward revision of its FY25 guidance.



In terms of economic data, U.S. initial jobless claims saw a decline, dropping by 13,000 to 228,000 for the week ending May 3, slightly below market projections. 1 Conversely, U.S. labor productivity in the nonfarm business sector experienced a 0.8% decrease during the first quarter, slightly exceeding the estimated 0.7% drop.



The Dow Jones index advanced 255 points or 0.62% to 41,368.45, whereas the S&amp;P 500 index rose 0.58% to 5,663.94. Nasdaq Composite ended 1.07% higher at 17,928.14, and the small-cap gauge, Russell 2000, climbed 1.85% to 2,026.41.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>1.07%</td><td>17,928.14</td></tr><tr><td>S&amp;P 500</td><td>0.58%</td><td>5,663.94</td></tr><tr><td>Dow Jones</td><td>0.62%</td><td>41,368.45</td></tr><tr><td>Russell 2000</td><td>1.85%</td><td>2,026.41</td></tr></tbody></table></figure>



Insights From Analysts:



According to Louis Navellier of Navellier &amp; Associates, &#8220;Tariffs are steering the boat again.&#8221;



He said that Trump&#8217;s announcement of the U.S. striking a comprehensive agreement with the U.K. and Scott Bessent&#8217;s announcement of a meeting in Switzerland with China to discuss tariffs are propelling the market.



&#8220;This helps explain the long recovery rally since the Liberation Day announcement of tariffs on April 2nd. The fear of missing out on favorable agreements being reached has limited the number of sellers,&#8221; he said.



He added, &#8220;The upside story will be that the tariff agreements will result in mutually low tariffs, which should be generally beneficial for U.S. exporters, as Trump has contended all along.&#8221;



He also said that Trump announcing a definitive deal with the U.K. is an &#8220;important first step in reducing tariff fears.&#8221;



Meanwhile, Ed Yardeni or Yardeni Research agreed with the sentiment and added, &#8220;President Donald Trump will need to declare victories in his trade wars with multiple countries around the world sooner rather than later.&#8221;



Yardeni also explained that Trump and his fellow Republicans have to avoid a recession caused by his tariff wars. Otherwise, they risk losing their thin majorities in both houses of Congress later in 2026, as per Yardeni.



&#8220;The correction in the S&amp;P 500 that started on February 19 ended on April 8. The S&amp;P 500 now has regained almost all its losses since the April 2 close, just before it tanked during the Annihilation Days on April 3 and April 4,&#8221; he said.



According to Yardeni, the stock market will soon have &#8220;deals fatigue and tire of Trump&#8217;s declarations of victory.&#8221;



&#8220;We think the trade issue will be behind us by July or August. If so, then the focus should be on how much Trump&#8217;s tariff skirmishes weighed on the economy and earnings. We expect both will remain surprisingly resilient,&#8221; he added.



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 Friday:



<ul class="wp-block-list">
<li>Fed Governor Michael Barr will speak at 5:55 a.m., New York Fed President John Williams will speak at 6:15 a.m., and Fed Governor Adriana Kugler will speak at 6:45 a.m. ET.</li>
</ul>



-Fed Governor Lisa Cook will speak at 6:45 a.m. ET.



<ul class="wp-block-list">
<li>Richmond Fed President Tom Barkin speaks at 8:30 a.m., Fed Governor Christopher Waller and New York Fed President John Williams will speak on a panel at 11:30 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>Fed Governor Michelle Bowman, St. Louis Fed President Alberto Musalem, and Fed Cleveland President Beth Hammack will speak on the panel at 7:45 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>EchoStar Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) fell 3.53% in premarket on Friday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings loss of 88 cents per share on the revenue of $3.87 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Plains All American Pipeline LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) was up 1.18% as Wall Street expects it to report earnings of 43 cents per share on revenue of $14.26 billion before the opening bell.</li>
</ul>



<ul class="wp-block-list">
<li>LYFT Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) jumped 7.31% after reporting better-than-expected earnings for the first quarter and announcing a $750 million share buyback plan.</li>
</ul>



<ul class="wp-block-list">
<li>Sensata Technologies Holding PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) rose 9.13% after reporting better-than-expected first-quarter financial results and issuing strong guidance for the second quarter.</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>) dropped 1.26% after reporting worse-than-expected first-quarter financial results. Coinbase reported first-quarter total revenue of $2.03 billion, missing a Street consensus estimate of $2.12 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) was 2.20% higher after its April sales surged on the back of rushed orders following the levy of U.S. tariffs.</li>
</ul>



<ul class="wp-block-list">
<li>Twin Vee Powercats Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEE#NASDAQ">VEEE</a>) plunged 37.85% after it announced the fundraise of $3 million by pricing its public offering of 750,000 shares of common stock at $4.00 per share.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.59% to hover around $60.86 per barrel.



Gold Spot US Dollar rose 0.65% to hover around $3,327.68 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.26% at the 100.3830 level.



Asian markets were mixed on Friday as India's S&amp;P BSE Sensex, South Korea's Kospi, and China&#8217;s CSI 300 index fell. While Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng index rose. European markets were higher in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45310899/quantum-computing-aids-energy-efficiency-for-blockchain-hashing-require-a-fraction-of-the-electricity-used-by-classical-resources-says-d-wave-ceo">Quantum Computing Aids Energy Efficiency For Blockchain Hashing: &#8216;Require A Fraction Of The Electricity Used By Classical Resources,&#8217; Says D-Wave CEO </a></li>
</ul>



Image via Shutterstock

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US Stock Futures Flicker Between Gains And Losses After Strong Three-Day Run: 'Tariffs Are Steering The Boat Again,' Says Expert

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