As legendary investor Warren Buffett prepares to step down as CEO of Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) by <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">the end of 2025</a>, a 13F filing released on Thursday reveals how his team reshaped the firm's portfolio in the first quarter.



What Happened: The 13F <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012325005701/0000950123-25-005701-index.html">filing </a>from Berkshire Hathaway Inc., showing the firm&#8217;s holdings as of March 31, reveals several stocks positioned exited completely, with no new stock purchases in the quarter.



Buffett and team exited positions in financial companies Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and Nu Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) completely in the quarter.



The exit of Nu Holdings stock in the quarter could be a significant storyline as the investment gave Buffett exposure to digital banks in Latin America and also gave the famous Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) skeptic <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27208096/warren-buffett-now-owns-bitcoin-heres-how-the-oracle-of-omaha-got-exposure-3" target="_blank" rel="noopener">exposure to Bitcoin.</a> Nu holds the leading cryptocurrency on its balance sheet and has several crypto platforms for investors.



Here are the top decreased <a href="https://13f.info/manager/0001067983-berkshire-hathaway-inc">stakes </a>by Berkshire Hathaway in the first quarter by percentage:



<ul class="wp-block-list">
<li>Citigroup: -100%</li>



<li>Nu Holdings: -100%</li>



<li>Formula One (NASDA:FWONK): -48%</li>



<li>T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>): -11%</li>



<li>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>): -7%</li>



<li>Capital One Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>): -4%</li>



<li>DaVita Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>): -3%</li>



<li>Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>): declined by less than 1%</li>
</ul>



Read Also:<a href="https://www.benzinga.com/general/education/25/05/45208955/warren-buffetts-giant-berkshire-portfolio-top-10-includes-banks-oil-and-apple"> Warren Buffett&#8217;s Giant Berkshire Portfolio: Top 10 Includes Banks, Oil, And Apple</a>



Top Additions: While Berkshire Hathaway did not make new stock purchases in the quarter, the conglomerate added to several existing positions,<a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3"> including recent holdings</a> like Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) and Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>).



Here are the top additions in the first quarter by percentage:



<ul class="wp-block-list">
<li>Pool Corporation: +145%</li>



<li>Constellation Brands: +114%</li>



<li>Heico Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>): +11%</li>



<li>Domino's Pizza (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>): +10%</li>



<li>Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>): +2%</li>



<li>Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): increased by less than 1%</li>



<li>VeriSign Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>): increase by less than 1%</li>
</ul>



Berkshire's top five holdings remain the same in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Coca-Cola Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Bank of America and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>). Of the five, only Bank of America was changed in the quarter with the decrease.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45232692/if-you-invested-1000-in-berkshire-hathaway-stock-when-warren-buffett-did-heres-how-much-youd-have-now">If You Invested $1,000 In Berkshire Hathaway Stock When Warren Buffett Did, Here&#8217;s How Much You&#8217;d Have Now</a></li>
</ul>



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Warren Buffett Ditches Bitcoin-Linked Nu Holdings, Adds To Constellation Brands, Domino's Pizza, Pool Corp Stakes

Bill Ackman could have a new love for the automotive sector with a new investment made in the first quarter and an added position to a stake from the fourth quarter of 2024 that was <a href="https://www.benzinga.com/25/04/44878275/billionare-investor-bill-ackman-posts-hertz-investment-thesis-proposes-av-fleet-partnership-with-uber">revealed in April.</a>



Here's a look at Ackman's investment holdings in Pershing Square as of March 31.



First Quarter Changes: Ackman and Pershing Square unveiled a new stake in Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) in the first quarter with a position of more than 30 million shares. The stake is now the largest holding the Pershing Square portfolio and comes with the investor making several recent moves to his investment strategy.



Ackman increased his stake in Hertz Global Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) in the first quarter with the <a href="https://www.sec.gov/Archives/edgar/data/1336528/000117266125002315/0001172661-25-002315-index.html">filing </a>showing an 18% increase.



Ackman's stake in Hertz was unveiled via a tweet and an updated SEC filing in April. A 12.7 million share purchase was originally kept from the fourth-quarter holdings document due to a request for confidentiality.



Here were the other increased stakes in the quarter:



<ul class="wp-block-list">
<li>Brookfield Corporation: +18%</li>



<li>Alphabet Inc Class A (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): +11%</li>
</ul>



Pershing Square lowered its investments in the following stocks in the first quarter:



<ul class="wp-block-list">
<li>Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>): -100%</li>



<li>Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>): -45%</li>



<li>Google Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>): -16%</li>



<li>Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>): -13%</li>



<li>Canadian Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>): decreased by less than 1%</li>
</ul>



One of the biggest moves in the quarter was the exit from Nike, with Pershing Square previously owning 18.8 million shares in the fourth quarter.



Read Also: <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">Bill Ackman Follows Warren Buffett: Hedge Funder Promises &#8216;Modern Day Berkshire Hathaway&#8217; With Latest Transaction</a>



Ackman's Top Holdings: The newest 13F filing shows 11 stocks owned by Ackman and Pershing Square. Here are the current holdings and their percentage of the investment fund:



<ul class="wp-block-list">
<li>Uber: 19%</li>



<li>Brookfield: 18%</li>



<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>): 13%</li>



<li>Howard Hughes Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>): 12%</li>



<li>Chipotle: 9.1%</li>



<li>Canadian Pacific: 8.7%</li>



<li>Alphabet Class C: 8.3%</li>



<li>Alphabet Class A: 5.8%</li>



<li>Hilton: 5.7%</li>



<li>Seaport Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEG#NYSE">SEG</a>): 0.9%</li>



<li>Hertz: 0.5%</li>
</ul>



The latest 13F filing comes as Ackman is trying to <a href="https://www.benzinga.com/25/05/45401638/howard-hughes-rises-nearly-3-in-pre-market-as-bill-ackman-exits-from-universal-music-groups-board-to-prioritize-new-investments">buy control of </a>Howard Hughes and turn it into a diversified holding company to copy the conglomerate style of legendary investor Warren Buffett.



The Pershing Square 13F could look significantly different next quarter.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/03/44330386/bill-ackman-sells-portion-of-universal-music-stake-one-of-the-best-businesses-we-have-ever-owned">Bill Ackman Sells Portion Of Universal Music Stake: &#8216;One Of The Best Businesses We Have Ever Owned&#8217;</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Bill Ackman Loads Up On Uber, Dumps Nike In Major Q1 Portfolio Rebalance

Video game company Take-Two Interactive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) reported fourth-quarter financial results after <a href="https://www.benzinga.com/earnings">market close Thursday.</a>



Here are the key highlights.



What Happened: Take-Two announced fourth-quarter net bookings of $1.58 billion, up 17% year-over-year. The total beat a Street consensus estimate of $1.55 billion according to data<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0515"> from Benzinga Pro.</a>



The company reported adjusted earnings pre share or $1.08 for the quarter, missing a Street consensus estimate of $1.10 per share.



Net bookings from recurrent consumer spending were up 14% year-over-year in the quarter and made up 77% of total net bookings.



The company said the largest contributors to net bookings were "NBA 2K25," "Grand Theft Auto Online, "Grand Theft Auto V," "Civilization VII," "Toon Blast," "Match Factory!," "Empires &amp; Puzzles," "Red Dead Redemption 2" and "Red Dead Online."



Total net bookings for the fiscal year were $5.65 billion, up 6% year over year. Net bookings from recurrent consumer spending were up 7% year over year for the full fiscal year and made up 70% of total net bookings.



"We achieved outstanding results in our 2025 Fiscal Year, with each of our labels contributing meaningfully to our performance," Take-Two CEO Strauss Zelnick said.



Read Also: <a href="https://www.benzinga.com/quote/TTWO/analyst-ratings">Analyst Ratings On Take-Two Interactive </a>



What's Next: Take-Two is guiding for first quarter net bookings to be in a range of $1.25 billion to $1.30 billion.



The company guides for full fiscal-year net bookings to be in a range of $5.90 billion to $6.00 billion.



"Our Fiscal 2026&nbsp;outlook&nbsp;reflects continuing positive momentum, with Net Bookings&nbsp;guidance&nbsp;of&nbsp;$5.9&nbsp;to&nbsp;$6.0 billion. As we bring our exciting lineup to market, including&nbsp;Grand Theft Auto VI&nbsp;in Fiscal 2027, we expect to achieve record levels of Net Bookings that will establish a new baseline for our business and set us on a path of enhanced profitability," Zelnick said.



Take-Two's upcoming game lineup for 2025 includes "Mafia: The Old Country," "Borderlands 4" and "WWE 2K Mobile."



Future games include "NBA 2K26," "WWE 2K26" and "Grand Theft Auto VI," which <a href="https://www.benzinga.com/news/25/05/45166208/rockstar-games-delays-highly-anticipated-grand-theft-auto-vi-release">was recently delayed</a> to a new release date of May 26, 2026.



TTWO Price Action: Take-Two stock is down 1.7% to $228.33 in after-hours trading Thursday versus a 52-week trading range of $135.24 to $238.00.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/large-cap/25/05/45205780/sp-500-stocks-that-defy-sell-in-may-myth-5-companies-with-strong-historical-gains">S&amp;P 500 Stocks That Defy &#8216;Sell In May&#8217; Myth: 5 Companies With Strong Historical Gains</a></li>
</ul>



Image created using photos from Shutterstock.

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GTA VI Delay Looms Over Take-Two Earnings: Sales Beat, EPS Miss, Outlook Updated

Five weeks ago, markets and businesses were bracing for the worst. Donald Trump's sweeping April 2 tariff announcement sparked panic across equities and credit markets, igniting fears of <a href="https://www.benzinga.com/topic/tariffs">a trade-driven recession. </a>



But fast forward to mid-May, and the last traces of that economic pessimism have been wiped out. From credit spreads to the traditional Wall Street&#8217;s stress indicator, the message is clear: Investors are no longer pricing in a U.S. recession.



<h3 class="wp-block-heading">Tariff-Driven Credit Risk? Gone</h3>



High-yield bond spreads — one of the market&#8217;s most reliable gauges of economic stress — have returned to pre-tariffs levels.



The spread between U.S. high yield corporate bonds and Treasurys has dropped from 4.7 percentage points in early April to just 3.1 percentage points, now below the three-year average of 3.86. This signals investor confidence in even the riskiest borrowers' ability to meet debt obligations.



&#8220;During a huge risk-on advance, US High yield spreads have tightened 152 bps since April 7. With spreads now at 309 bps above Treasuries, credit market investors are back to pricing in a very optimistic outlook with no recession and few defaults,&#8221; Charlie Bilello, chief market strategist at Creative Planning, wrote in a <a href="https://x.com/charliebilello/status/1922746726307311890">post on X.com</a>.



Even in the riskiest corners of the market, sentiment has flipped. 



CCC-rated bonds, which sit just above default status, now trade at an 8.74-point spread, down from an April 7 peak of 11.4, and well below their 3-year average of 9.66.



The BondBloxx CCC-rated USD High Yield Corporate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XCCC#NYSE">XCCC</a>) has rallied 13% since April 7, marking the best 26-day rise since the fund&#8217;s inception in 2022. 



This reset in credit risk pricing reflects not only a shift in sentiment but also the market's perception that tariff-induced recession risks have been neutralized. 



<h3 class="wp-block-heading">Chart: Junk Bonds Are Breathing Easy Again After Tariff Shock</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-1024x529.png" alt="" class="wp-image-916861" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-768x397.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-1536x793.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/15121610/image-185-2048x1058.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Volatility Vanishes As Wall Street Gets Its Calm Back</h3>



The CBOE Volatility Index (VIX) — Wall Street's fear gauge — had spiked to 60 on April 7, a level not seen since the pandemic crash. 



But with the White House&#8217;s 90-day pause on tariffs and tangible diplomatic progress — including a May 12 U.S.-China trade truce and a May 7 U.S.-UK trade agreement — clarity returned, and with it, calm.



On May 15, the VIX hovered around 18 levels, marking a 70% drop from last month&#8217;s peak. 



&#8220;Clarity often breeds comfort, and the removal of worst-case trade war scenarios meant the market could move on from peak fear,&#8221; said in an email Adam Turnquist, chief technical strategist for LPL Financial.



Dominic Wilson, analyst at Goldman Sachs, said the reduction in China-U.S. tariffs has led the bank to raise its U.S. growth forecast and lower recession odds. 



"We see some scope for near-term relief to continue," Wilson said, although he warned about renewed pressure on long-term interest rates and called for downside protection ahead of labor data.



CFTC-regulated betting platform Kalshi now assigns a 40% probability of a U.S. recession this year, down from 70% a month ago — suggesting it's now more likely the economy avoids a downturn.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=dark&#038;widget_size=medium&#038;variant=a&#038;utm_campaign=benzinga_widget" width="488px" height="242px" style="border:0"></iframe>



<h3 class="wp-block-heading">Markets Enter Phase 2: Communication Services, Tech Lead</h3>



Markets are now transitioning into what Jeff Buchbinder, LPL Financial's chief equity strategist, calls "phase two" — a low-tariff, trade-clarity regime. 



During this period, sectors exposed to global supply chains and discretionary spending are expected to outperform, according to the expert.



Buchbinder said communication services, consumer discretionary, industrials, and technology top his list, with the former seen as the standout.



The communication services sector has the highest percentage of cost of goods sold sourced outside the U.S. among S&amp;P 500 sectors, as LPL noted citing Bloomberg data, making it a prime beneficiary of easing trade tensions. 



The sector also boasts the lowest price-to-earnings ratio, biggest first-quarter earnings upside surprise, and second-best earnings growth among all 11 S&amp;P sectors.



From collapsing volatility to tightening credit spreads and a bullish sector rotation, markets are sending a clear signal: recession fears are in the rearview mirror, at least for now.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45420871/gold-miners-slammed-by-us-china-trade-truce-is-it-time-to-take-profit">Gold Miners Slammed By US-China Trade Truce: Is It Time To Take Profit? </a></li>
</ul>



Photo: Shutterstock

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What Recession? Markets Have Erased Every Last Bit Of Economic Pessimism

Federal Reserve Chair Jerome Powell said Thursday that the central bank is rethinking its approach to inflation and employment, signaling possible changes to the Fed's policy strategy as part of a major <a href="https://www.benzinga.com/news/econ-s">review underway in 2025.</a>



&#8220;Participants have indicated that they thought it would be appropriate to reconsider the language around [labor market] shortfalls,&#8221; Powell said, referring to how the Fed talks about employment in its official strategy. 



Powell also highlighted that &#8220;at our meeting last week, we had a similar take on average inflation targeting,&#8221; hinting that the policy introduced in 2020 may be revised or dropped.



<h3 class="wp-block-heading">What's Changing And Why?</h3>



In 2020, the Fed adopted a strategy to let inflation run slightly above 2% after years of staying too low. That policy, known as average inflation targeting, was meant to boost job growth and better support the economy in downturns.



But just months later, inflation surged far beyond the Fed's expectations, hitting a peak of 7.2% in 2022. The Fed had to respond aggressively, raising interest rates by 5.25 percentage points in just 16 months. Now, Powell says the economic landscape has changed and the old approach may no longer fit.



In April 2025, inflation measured by the Fed's preferred gauge—the personal consumption expenditures index—was down to 2.2%.



 That's close to the Fed's goal and, Powell noted, "without the sharp increase in unemployment" that often comes with rate hikes. This success may be pushing the Fed to rethink whether it still needs the average inflation policy.



<h3 class="wp-block-heading">Better Communication In Focus</h3>



Powell also acknowledged that the Fed needs to do a better job explaining its outlook and the risks it sees. He said the central bank is looking at ways to improve how it communicates uncertainty around economic forecasts.



"Clear communication is an issue even in relatively placid times," he said. He added that in today's more volatile world—where shocks happen more often—it&#8217;s even more important to help the public understand that forecasts can change.



<h3 class="wp-block-heading">What Happens Next?</h3>



Powell said the Fed will finish its policy review in the coming months. The updated strategy will replace the one adopted in 2020 and is expected to shape how the Fed responds to future economic challenges.



While some core elements will stay—like the 2% inflation target—others, like the language around employment and inflation overshooting, may be rewritten.



For now, Powell made it clear that anchoring inflation expectations—keeping public confidence that prices will remain stable—is still the Fed's top priority. "We remain fully committed to the 2 percent target today," he said.



<h3 class="wp-block-heading">Market Reactions: Dollar Rebounds, Yields Hover Near 5% After Powell Speech</h3>



Markets showed a mixed response to Powell's comments, with the U.S. dollar bouncing back while Treasury yields remained elevated and tech stocks took a breather.



The U.S. Dollar Index, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose to 100.8, trimming earlier losses triggered by weaker-than-expected retail and producer price data <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45435725/tariffs-slow-retail-spending-as-producer-prices-post-sharpest-drop-since-2020">released earlier in the day.</a>



Meanwhile, 30-year Treasury yields briefly touched the 5% threshold, reflecting market expectations that interest rates will remain elevated. Yields later eased slightly to 4.98% as investors digested Powell's remarks on the Fed's evolving policy stance.



Nasdaq 100 futures were flat, stabilizing after a three-day winning streak, as traders weighed the potential implications of a policy framework revision and a slower-than-expected inflation path.



Traders currently assign just an 8% probability of a 25-basis-point rate cut at the June FOMC meeting, according to CME FedWatch Tool data. The likelihood of easing increases further out, with markets fully pricing in a rate cut by September 2025.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Fed Chair Powell &#x7C; Thomas Laubach Research Conference &#x7C; May 15, 2025" width="500" height="281" src="https://www.youtube.com/embed/O9tcyZq4aGU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45435725/tariffs-slow-retail-spending-as-producer-prices-post-sharpest-drop-since-2020">Tariffs Slow Retail Spending As Producer Prices Post Sharpest Drop Since 2020</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Powell Signals Fed May Shift Inflation Strategy After 5 Years Of Economic Upheaval

April retail sales data showed that the <a href="https://www.benzinga.com/topic/tariffs">round of tariffs</a> announced by President Donald Trump on &#8220;Liberation Day&#8221; started to produce their effects by reducing household consumption.



However, while households reined in spending, inflationary pressures at the producer level unexpectedly contracted in April, notching the biggest decline since April 2020 and highlighting the disinflationary impact of tariffs on input costs across industries.



U.S. retail sales grew only by 0.1% in April from the previous month, a report from the Census Bureau showed Thursday. The outcome marks a sharp reversal from March's upwardly revised 1.7% gain, yet slightly topped economist expectations of no change.



A relevant drag came from motor vehicles and parts which contracted by 0.1%. In March, auto-related sales jumped 5.5% as consumers rushed to buy before tariffs took effect. 



Stripping out autos, retail sales also rose 0.1%, a slowdown from March's 0.8% increase and below the 0.3% consensus. 



When excluding both gasoline and autos, the figure improves slightly to a 0.2% rise, though it still marks a deceleration from March's 1.1% growth.



On an annual basis, April retail sales were up 5.2% from a year earlier, unchanged from March.



<h3 class="wp-block-heading">Tariffs Slash Producer Prices</h3>



The Producer Price Index fell 0.5% month over month, marking the sharpest decline since April 2020. This was a steep reversal from March's flat reading and missed economists&#8217; expectations for a 0.2% increase.



On a year-over-year basis, producer inflation cooled to 2.4%, down from 3.1% in March and undercutting forecasts of 2.5%.



&#8220;The April decline in the index for final demand is attributable to prices for final demand services, which decreased 0.7%,&#8221; the Bureau of Labor Statistics said.



More than 40% of April's drop in the final demand services index stemmed from a 6.1% decline in margins for machinery and vehicle wholesaling. Additional declines were recorded in portfolio management, food and alcohol wholesaling, system software publishing, traveler accommodations, and airline passenger services.



Core producer prices, which exclude food and energy, dropped 0.4% on the month, wiping out the previous month's 0.4% gain and coming in well below the 0.3% estimate. 



On an annual basis, core PPI rose 3.1%, easing from 4% in March but in line with consensus.



<h3 class="wp-block-heading">Market Reaction: Yields Rise, Stocks Slip</h3>



U.S. stock futures pulled back after a three-day rally. By 8:40 a.m. ET, futures on the S&amp;P 500 were down 0.3%, while Nasdaq 100 futures fell 0.4%.



Meanwhile, the U.S. Dollar Index (DXY) – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – fell to 100.7 levels. 



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/government/regulations/25/05/45430835/us-stocks-likely-to-open-lower-after-sp-500s-three-day-winning-streak-many-uncertainties-remain-says-expert">US Stocks Likely To Open Lower After S&amp;P 500&#8217;s Three-Day Winning Streak: &#8216;&#8230;Many Uncertainties Remain,&#8217; Says Expert </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Tariffs Slow Retail Spending As Producer Prices Post Sharpest Drop Since 2020

U.S. stocks traded mixed Thursday, with major indices posting timid midday gains as investors digested fresh economic data revealing signs of consumer strain and disinflationary pressure stemming <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45435725/tariffs-slow-retail-spending-as-producer-prices-post-sharpest-drop-since-2020">from April's tariff escalation.</a>



Retail sales rose just 0.1% in April, slightly above flat expectations, but core retail sales—a category tied more closely to GDP—fell 0.3%, signaling weakening underlying consumption.



Producer prices contracted by 0.5% month-over-month, defying forecasts for an increase and marking the steepest drop since April 2020. 



Defensive sectors outperformed, with consumer staples and utilities leading gains, reflecting a cautious market tone.



In tech, semiconductor stocks—tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)—edged down 0.4%, pulling back after a three-day rally sparked by the U.S.-China trade truce.



Oil prices slid 2.2%, with WTI light crude falling to $61 per barrel. Gold climbed 1.4% to above $3,200 per ounce, paring weekly losses amid renewed demand for inflation hedges.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was little changed, hovering around $103,436, continuing to trade in a narrow range since last Friday.



<h3 class="wp-block-heading">Thursday&#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>1-day %Chg</td></tr><tr><td>S&amp;P 500</td><td>5,914.04</td><td>+0.3%</td></tr><tr><td>Dow Jones</td><td>42,202.33</td><td>+0.3%</td></tr><tr><td>Nasdaq 100</td><td>21,392.27</td><td>+0.3%</td></tr><tr><td>Russell 2000</td><td>2,088.09</td><td>+0.2%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:45 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 0.3% up to $589.95.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.4% to $422.17.</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;rose 0.5% to $471.29.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $207.50.</li>



<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.5%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>



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



<ul class="wp-block-list">
<li>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) plunged more than 15% following reports that the Justice Department is conducting a criminal investigation into possible Medicare fraud involving the company. The company&#8217;s shares slump since April 15 has now extended to 56%, marking the worst 21-session drop in the company&#8217;s history.</li>



<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) eased 0.5%, despite beating quarterly earnings estimates as the retail giant warned about higher prices later this month due to tariffs.</li>



<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) soared nearly 6% after smashing earnings estimates in Q1. </li>



<li>Dicks Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) sunk 15% after announcing the acquisition of Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) for an equity value of $2.4 billion. Shares of Foot Locker Inc. skyrocketed 85%, recording their biggest one-day rise since the company went public in 1968. </li>



<li>Companies slated to report earnings after the close are Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) and Take Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>)</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/biotech/25/05/45438765/why-pfizer-is-poised-for-a-strong-comeback-my-top-pick-for-2025">Why Pfizer Is Poised For A Strong Comeback: My Top Pick For 2025 </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Regulations

Broad U.S. Equity ETFs

AMAT

CSCO

SOXX

Wall Street Wavers As UNH Tumbles, Foot Locker Soars: What's Driving Markets Thursday?

<h2 class="wp-block-heading">Pfizer's Oncology Transformation: Why This Beaten-Down Pharma Giant Is Poised For A Strong Comeback</h2>



Despite trading near decade-low valuations, Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) is strategically repositioning itself for substantial long-term growth through its oncology transformation, particularly via the Seagen acquisition. While the market remains fixated on COVID-related revenue declines and upcoming patent cliffs, investors are overlooking the company's dramatically expanded oncology pipeline, robust free cash flow, and the potential for multiple catalysts in 2025-2026 that could drive significant share price appreciation.



<h2 class="wp-block-heading"><a>Key Points:</a></h2>



<ol class="wp-block-list">
<li>Pfizer's current valuation metrics reveal a striking disconnect with its long-term growth potential</li>



<li>The $43 billion Seagen acquisition has fundamentally transformed Pfizer's oncology pipeline</li>



<li>Despite near-term revenue pressures, Pfizer's financial position remains strong with multiple pathways to growth</li>



<li>A comparison with key competitors shows Pfizer offers compelling risk-reward at current prices</li>



<li>Upcoming catalysts in 2025-2026 could trigger significant revaluation</li>
</ol>



<h2 class="wp-block-heading"><a>Introduction: The Fall From Grace</a></h2>



Few pharmaceutical giants have experienced as dramatic a fall from grace as Pfizer. After riding high on the success of its COVID-19 vaccine and antiviral treatments in 2021-2022, the company has seen its stock price plummet over 60% from its December 2021 high of $52.61. At its current price of approximately $23.87, Pfizer trades at a P/E ratio of just 7.41, a level typically reserved for companies facing existential threats rather than one of the world's premier pharmaceutical innovators.



The market narrative surrounding Pfizer has been overwhelmingly negative, focused on:



<ol class="wp-block-list">
<li>The rapid decline of COVID-19 product revenues</li>



<li>Upcoming patent expirations for key drugs like Inlyta (2025) and Xtandi (2027)</li>



<li>Underwhelming pipeline developments in areas like weight loss</li>



<li>Concerns about the return on investment from the $43 billion Seagen acquisition</li>
</ol>



This pessimistic outlook has created what I believe is one of the most compelling investment opportunities in the pharmaceutical sector today. The market is dramatically undervaluing Pfizer's strategic transformation and the potential of its expanded oncology portfolio.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="975" height="609" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15031106/image-3.png" alt="" class="wp-image-12977" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15031106/image-3.png 975w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15031106/image-3-300x187.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15031106/image-3-768x480.png 768w" sizes="(max-width: 975px) 100vw, 975px" /></figure>



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



<h2 class="wp-block-heading">&nbsp;Valuation Disconnect: A Market Overreaction</h2>



Pfizer's current valuation metrics tell a compelling story of market overreaction:



<ul class="wp-block-list">
<li>P/E Ratio: 7.41x (vs. industry average of ~15x)</li>



<li>Forward P/E: 8.0x (based on 2025 guidance)</li>



<li>Dividend Yield: 7.20% (substantially higher than its historical average)</li>



<li>Market Cap: $135.38 billion (down from over $300 billion at its peak)</li>
</ul>



When a company of Pfizer's caliber trades at these valuation levels, either the market is correctly anticipating a permanent deterioration in business fundamentals, or it's presenting a significant opportunity for contrarian investors. I believe it's the latter.



While Pfizer's revenue and earnings did experience a sharp decline following the normalization of COVID-19 product demand, the company's 2025 guidance suggests stabilization is at hand. For 2025, Pfizer projects:



<ul class="wp-block-list">
<li>Revenue between $61-64 billion</li>



<li>Adjusted EPS of $2.80-3.00</li>



<li>Operational revenue growth of 0-5% (excluding non-recurring COVID revenue)</li>
</ul>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="975" height="609" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033015/image-4.png" alt="" class="wp-image-12979" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033015/image-4.png 975w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033015/image-4-300x187.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033015/image-4-768x480.png 768w" sizes="(max-width: 975px) 100vw, 975px" /></figure>



These projections, while not spectacular, hardly justify a valuation typically reserved for businesses in secular decline. More importantly, they provide a stable foundation from which Pfizer's oncology transformation can drive future growth.



<h2 class="wp-block-heading"><a>The Seagen Acquisition: A Pipeline Revolution</a></h2>



In December 2023, Pfizer completed its $43 billion acquisition of Seagen, a move that fundamentally transformed the company's oncology portfolio. This acquisition wasn't merely about adding incremental revenue; it represented a strategic pivot that doubled Pfizer's early-stage oncology pipeline and positioned the company as a leader in antibody-drug conjugate (ADC) technology—one of the most promising approaches in cancer treatment today.



The Seagen acquisition brought immediate and long-term benefits:



Immediate Portfolio Enhancement:



<ul class="wp-block-list">
<li>Four FDA-approved cancer drugs (Adcetris, Padcev, Tivdak, and Tukysa)</li>



<li>Combined revenues of approximately $2.2 billion in 2023</li>



<li>Pfizer projects these medicines could contribute over $10 billion in risk-adjusted revenues by 2030</li>
</ul>



Pipeline Transformation:



<ul class="wp-block-list">
<li>Doubled Pfizer's oncology pipeline to 60 programs</li>



<li>Expanded ADC technology platform</li>



<li>Added multiple late-stage pipeline candidates with blockbuster potential</li>
</ul>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="975" height="609" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033102/image-5.png" alt="" class="wp-image-12980" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033102/image-5.png 975w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033102/image-5-300x187.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033102/image-5-768x480.png 768w" sizes="(max-width: 975px) 100vw, 975px" /></figure>



This acquisition wasn't made out of desperation but from a position of strategic foresight. ADC technology, which Seagen pioneered, allows for more precise targeting of cancer cells while sparing healthy tissue. This approach is increasingly seen as the future of cancer treatment, with the global ADC market projected to grow at a CAGR of over 10% through 2030.



Pfizer CEO Albert Bourla's comment that "We are not acquiring the golden eggs. We are acquiring the goose that laid the golden eggs" captures the strategic rationale perfectly. The long-term value lies not just in current products but in Seagen's innovation engine.



<h2 class="wp-block-heading"><a>Financial Strength Despite Headwinds</a></h2>



While near-term revenue pressures are real, Pfizer's financial position remains remarkably strong:



Q1 2025 Performance:



<ul class="wp-block-list">
<li>Revenue of $13.72 billion</li>



<li>Adjusted EPS of $0.92 (significantly above analyst expectations of $0.66)</li>



<li>Maintained full-year guidance despite external challenges</li>
</ul>



Balance Sheet Strength:



<ul class="wp-block-list">
<li>Substantial cash flow generation</li>



<li>Dividend well-covered by earnings</li>



<li>Continued cost optimization (targeting $7.7 billion in savings by 2027)</li>
</ul>



In its Q1 2025 earnings call, Pfizer's management noted they are "trending towards the upper end" of their adjusted EPS guidance range for 2025, suggesting operational efficiency and cost discipline are bearing fruit.



<h2 class="wp-block-heading"><a>Competitive Landscape: How Pfizer Stacks Up</a></h2>



To fully appreciate Pfizer's investment potential, we need to compare it to major competitors:



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="975" height="609" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033126/image-6.png" alt="" class="wp-image-12981" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033126/image-6.png 975w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033126/image-6-300x187.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/15033126/image-6-768x480.png 768w" sizes="(max-width: 975px) 100vw, 975px" /></figure>



Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>):



<ul class="wp-block-list">
<li>Market Cap: ~$395 billion</li>



<li>P/E Ratio: ~25x</li>



<li>Dividend Yield: ~3.0%</li>



<li>Growth Challenges: Facing Stelara patent expiration in 2025 and ongoing talc litigation</li>
</ul>



Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>):



<ul class="wp-block-list">
<li>Market Cap: ~$208 billion</li>



<li>P/E Ratio: ~16x</li>



<li>Dividend Yield: ~2.9%</li>



<li>Growth Challenges: Heavy reliance on Keytruda, which faces patent expiration later this decade</li>
</ul>



AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>):



<ul class="wp-block-list">
<li>Market Cap: ~$340 billion</li>



<li>P/E Ratio: ~20x</li>



<li>Dividend Yield: ~3.6%</li>



<li>Growth Challenges: Recovering from Humira patent cliff through Skyrizi and Rinvoq growth</li>
</ul>



Compared to these peers, Pfizer offers significantly more attractive valuation metrics while facing similar industry-wide challenges. The valuation gap implies the market believes Pfizer's growth prospects are substantially worse than its competitors, an assumption not supported by the company's pipeline and strategic initiatives.



<h2 class="wp-block-heading"><a>Catalysts for Revaluation in 2025-2026</a></h2>



Several potential catalysts could drive a significant revaluation of Pfizer in the next 12-24 months:



<ol class="wp-block-list">
<li>Pipeline Milestones: Multiple late-stage readouts, particularly from oncology programs, are expected in 2025-2026, including data from the promising disitamab vedotin program for bladder cancer.</li>



<li>Margin Expansion: Pfizer's cost optimization initiatives are projected to deliver $7.7 billion in savings by 2027, potentially lifting adjusted operating margins.</li>



<li>Oncology Revenue Growth: The oncology portfolio, particularly the former Seagen products, is projected to deliver strong growth as new indications are approved and commercial execution improves.</li>



<li>GLP-1 Program Advancement: Progress with danuglipron, Pfizer's oral GLP-1 candidate, could position the company in the rapidly growing obesity market.</li>



<li>Potential Divestments or Spin-offs: Strategic portfolio optimization could unlock shareholder value, with non-core assets potentially being divested.</li>
</ol>



<h2 class="wp-block-heading"><a>Investment Risks</a></h2>



No investment thesis is complete without acknowledging risks:



<ol class="wp-block-list">
<li>Patent Cliff Pressures: Pfizer faces patent expirations for Inlyta (2025) and Xtandi (2027), which will impact revenue in the near term.</li>



<li>Seagen Integration Challenges: Realizing the full potential of the Seagen acquisition depends on successful integration and pipeline execution.</li>



<li>Pharmaceutical Pricing Pressure: The Inflation Reduction Act and potential future drug pricing reforms could impact profitability.</li>



<li>Competition in Oncology: The oncology space is highly competitive, with many companies pursuing similar targets.</li>



<li>Tariff Uncertainties: As noted in recent earnings calls, potential pharmaceutical tariffs create uncertainty.</li>
</ol>



However, at current valuation levels, much of this risk appears to be already priced into the stock, creating an asymmetric risk-reward profile.



<h2 class="wp-block-heading">Conclusion: The Case for Pfizer's Resurgence</h2>



Pfizer's dramatic fall from grace has created a compelling opportunity for patient investors. The company's strategic pivot to oncology, particularly through the Seagen acquisition, has positioned it at the forefront of one of the most promising areas in medicine. While near-term challenges are real, the current valuation reflects an overly pessimistic view that fails to account for Pfizer's pipeline potential and strategic transformation.



With multiple catalysts on the horizon and a dividend yield providing substantial income while waiting for the investment thesis to play out, Pfizer offers one of the most attractive risk-reward profiles in the pharmaceutical sector today.



For investors willing to look beyond the current negative sentiment, Pfizer at today's prices represents a rare opportunity to acquire a premier pharmaceutical innovator at a deep discount to its intrinsic value.



Image Credit: Generated Using AI

Biotech

Long Ideas

Opinion

ABBV

Why Pfizer Is Poised For A Strong Comeback: My Top Pick For 2025

First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) is in the midst of a likely short squeeze, which is skyrocketing the stock. Once the squeeze is over, shares should fall back to relative congestion support.



So today, let&#8217;s place a trade on First Solar against the current trade, but give the chart some time to develop by setting the expiration at least 60 days to deliver results.



Here&#8217;s how best to do it.



First Solar&#8217;s resistance zone currently sits around $200, but with all this market uncertainty, trading could be choppy in the summer months. Support sits near $155, which is where we&#8217;ll put our middle strike.



The way to play this is with a long put butterfly, a combination of a long put spread, and a short put spread that share the same short strike and same expiration date. Though this kind of trade is often described as &#8220;delta neutral,&#8221; it certainly delivers profit if price action fades as expected. 



<ul class="wp-block-list">
<li>Buy to open 1 FSLR 15 Aug 175 puts </li>



<li>Sell to open 2 FSLR 15 Aug 155 puts </li>



<li>Buy to open 1 FSLR 15 Aug 135 puts </li>
</ul>



Set an alert for prices near the middle strike so that you are very aware of the motion into the middle strike, as this is where the maximum profit will engage into expiration. You will also notice that price action is less sensitive to fluctuation the further we are from expiration. 



This long-put butterfly currently has a debit of $1.55, which represents the total risk incurred in the trade. The breakeven price of the stock at expiration on this trade is $173.45, less commissions.



The highest potential profit is $20 (the distance between $175 and $155), less the cost of the debt incurred by buying the call butterfly, so $20 &#8211; $1.55 = $18.45 less commissions.



It is extremely rare to collect all this premium in this kind of butterfly. Consider price action information to drive your risk and profit parameters.



This strategy provides several ways to exit, but I will discuss the main two:



<ol class="wp-block-list">
<li>Sell the put butterfly when the profit goal moves into your target parameters, particularly once the middle strike is tested near the expiration time. I often look for an 80% to 200% return for these types of put butterflies, but the maximum profit potential is much greater.</li>



<li>To sell the put butterfly when your loss threshold is breached. Customarily, this is 50% for me. </li>
</ol>



More advanced traders might consider rolling the short strikes down over time if First Solar&#8217;s price continues to fall.



<h2 class="wp-block-heading">Meet Your One-Stop Command Center for Smarter Investing</h2>



Newsletters talk. Analysts argue. Talking heads on TV hype. Benzinga Edge does something different—it delivers. With real-time portfolio alerts, actionable stock ideas, and pro-grade tools…you get the complete investors&#8217; arsenal — ready to help you profit in any market. Get Your Edge Now right <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/">HERE</a> (At 43% New-Member Discount)



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

FSLR

This Week's Best Short Squeeze Options Trade

On Thursday, retail giant&nbsp;Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) reported&nbsp;first-quarter&nbsp;FY26 sales growth of&nbsp;2.5%&nbsp;year-on-year (Y/Y) to&nbsp;$165.60&nbsp;billion, marginally missing the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/b45432296/walmart-reports-revenue-of-2-5-up-4-0-in-constant-currency-cc-with-operating-income-growing-of-4-3" rel="noreferrer noopener">consensus estimate of&nbsp;$165.88 billion</a>.



The retailer reported adjusted EPS&nbsp;of 61 cents,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus estimate of 58 cents.</a>



Global eCommerce sales grew&nbsp;22% Y/Y, led by store-fulfilled pickup &amp; delivery and marketplace.



Comparable sales for Walmart U.S. climbed by&nbsp;4.5%, excluding fuel, driven by health &amp; wellness and grocery growth. At Sam's Club, same-store sales rose&nbsp;6.7% Y/Y, excluding fuel.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45422271/walmart-faces-tariff-test-this-quarter-preview" rel="noreferrer noopener">Walmart Q1 Earnings Preview: Why Retailer Will Have ‘One Of The Most Telling' Reports On Tariff Impact</a>



The gross margin rate was up 12&nbsp;basis points, led by Walmart U.S.



Operating income increased&nbsp;$0.3 billion, or&nbsp;4.3%, and adjusted operating&nbsp;income&nbsp;was up&nbsp;3.0%&nbsp;in constant currencies due to higher gross margins and growth in membership income.



Global advertising business improved&nbsp;50% Y/Y, including&nbsp;31% Y/Y&nbsp;for Walmart Connect in the U.S.



"We delivered a solid first quarter in a dynamic operating environment. We're serving customers and members in more ways, which is fueling our growth. We're well positioned, maintaining flexibility to navigate the near-term while continuing to invest to create value for the long-term." said President and CEO&nbsp;Doug McMillon.



Walmart generated an operating cash flow of&nbsp;$5.4 billion&nbsp;and a free cash flow of&nbsp;$425 million&nbsp;in the quarter. It ended the quarter with cash and equivalents of&nbsp;$9.3 billion.



<h2 class="wp-block-heading">Guidance</h2>



Walmart expects&nbsp;second-quarter&nbsp;FY26 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">sales growth of&nbsp;3.5%—4.5%&nbsp;in CC</a>, translating to $173.67 billion—$175.35 billion versus the $175.21 billion estimate.



For fiscal year 2026, Walmart reaffirmed an adjusted EPS outlook of&nbsp;$2.50&nbsp;–&nbsp;$2.60, vs. the&nbsp;$2.61 estimate and sales&nbsp;guidance&nbsp;of&nbsp;$694.70 billion—$701.50 billion vs. the&nbsp;street view of $705.30 billion.



<h2 class="wp-block-heading">Conference Call</h2>



During the conference call, CEO reportedly says, "all of the tariffs create cost pressure for us, but the larger tariffs on china have the biggest impact for us; ‘we won't let tariff-related cost pressure on some general merchandise items put pressure on food prices; but as it relates to food area for imported items like bananas, avocados, coffee and roses, will do our best to control."



The CFO reportedly said, "February was softer than expected, March was back to normal, and April was very strong; we will need to manage quantity volumes as we measure tariffs."



Investors can gain exposure to the stock via Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>) and Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>).



Price Action:&nbsp;WMT shares are down 0.71% to $96.14 premarket at the last check on Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/large-cap/25/05/45357178/walmart-analysts-strategy-curbs-price-hikes-despite-tariffs" target="_blank" rel="noreferrer noopener">Walmart Analysts: Strategy Curbs Price Hikes Despite Tariffs</a></li>
</ul>



Image via Shutterstock

Guidance

FSTA

Walmart Doesn't Alter Annual Outlook Yet, CEO Says 'All Tariffs Create Cost Pressures But China Has Biggest Impact'

Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) shares rocketed premarket on Thursday after the company disclosed a definitive deal to be acquired by Dick&#8217;s Sporting Goods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>), which values Foot Locker&#8217;s equity at around $2.4 billion and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45431136/dicks-sporting-goods-to-acquire-foot-locker-to-create-a-global-leader-in-the-sports-retail-industr" rel="noreferrer noopener">its enterprise at about $2.5 billion</a>.



DICK&#8217;S plans to fund the acquisition using a combination of its existing cash reserves and newly incurred debt.



As per the deal, Foot Locker shareholders will have the option to receive either $24.00 in cash or 0.1168 shares of DICK&#8217;S common stock for each share of Foot Locker common stock they own.



Also Read: <a target="_blank" href="https://www.benzinga.com/general/sports/25/05/45424475/foot-locker-stock-soars-on-potential-dicks-sporting-goods-deal-report" rel="noreferrer noopener">Foot Locker Stock Soars On Potential Dick&#8217;s Sporting Goods Deal: Report</a>



Based on Foot Locker&#8217;s closing stock price on May 14, 2025, the $24.00 per-share consideration reflects a premium of about 66% over Foot Locker&#8217;s 60-trading-day volume-weighted average price.



The transaction is expected to close in the second half of 2025, upon shareholder approval and other customary closing conditions.



Synergy &amp; Benefits: DICK&#8217;S anticipates that this acquisition to increase its EPS starting in the first full fiscal year after the deal closes, excluding transaction and other one-time costs related to achieving synergies.



The company also expects to realize between $100 million and $125 million in cost synergies in the medium term through efficiencies in <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">procurement and direct sourcing</a>.



Ed Stack, Executive Chairman of DICK&#8217;S said, &#8220;By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker&#8217;s position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers.&#8221;



Mary Dillon, CEO of Foot Locker added, &#8220;By joining forces with DICK&#8217;S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry.&#8221;



DKS Q1 Preliminary: The company sees comparable sales growth of 4.5% and adjusted EPS of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45431210/dicks-sporting-goods-reports-preliminary-results-for-first-quarter-of-2025-reports-comparable-sale" rel="noreferrer noopener">$3.37 vs. the consensus of&nbsp;$3.22</a>. The company will report first-quarter <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">results&nbsp;on&nbsp;May 28, 2025</a>.



FL Q1 Preliminary: The company expects a comparable sales decline of 2.6% year over year (Y/Y), with comparable sales in the&nbsp;North <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45431211/foot-locker-inc-reports-preliminary-first-quarter-2025-financial-results" rel="noreferrer noopener">America&nbsp;region decreasing by 0.5%</a>.



Foot Locker projects adjusted loss per share of&nbsp;7 cents&nbsp;in the first quarter (consensus of $0.41), vs. EPS of&nbsp;22&nbsp;cents in the corresponding prior-year period.



Adjusted loss per share excludes non-cash impairment charges totaling&nbsp;$276 million&nbsp;and reflects a&nbsp;$140 million&nbsp;charge related to a&nbsp;tradename and a goodwill impairment charge of&nbsp;$110 million.



Also, the company recorded a full valuation allowance on deferred tax assets and deferred tax costs related to the European business totaling&nbsp;$124 million.



Foot Locker will report results on May 29, 2025.



As of February&nbsp;1, 2025, DICK&#8217;S cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44242779/dicks-sporting-goods-reports-fourth-quarter-and-full-year-2024-results-delivers-largest-sales-quar" rel="noreferrer noopener">cash equivalents stood at $1.69 billion</a>.



Price Action: FL shares are up 83.30% at $23.59, while DKS stock dipped 11.70% at $185.10&nbsp;premarket at the last check on Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/25/04/44672618/trump-tariffs-to-hurt-nike-under-armour-vf-are-ralph-lauren-foot-locker-safer-bets" target="_blank" rel="noreferrer noopener">Trump Tariffs To Hurt Nike, Under Armour, VF: Are Ralph Lauren, Foot Locker Safer Bets?</a></li>
</ul>



Photo by C. Nass via Shutterstock

Dick's Sporting Goods To Acquire Foot Locker At 66% Premium

Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) announced on Wednesday that it has been chosen by <a href="https://www.benzinga.com/pressreleases/25/05/b45420724/rocket-lab-to-launch-nasa-astrophysics-science-mission-on-electron-to-study-galaxy-evolution" target="_blank" rel="noreferrer noopener">NASA </a><a href="https://www.benzinga.com/pressreleases/25/05/b45420724/rocket-lab-to-launch-nasa-astrophysics-science-mission-on-electron-to-study-galaxy-evolution" target="_blank" rel="noreferrer noopener">to launch its Aspera mission</a>.



Aspera is an astrophysics science mission designed to study the formation and evolution of galaxies and provide new insights into how the universe works.



NASA selected Rocket Lab to launch its Aspera astrophysics mission (studying galaxy formation via UV light) on Electron from Launch Complex 1, targeting no earlier than the first quarter of 2026.



Also Read: <a target="_blank" href="https://www.benzinga.com/content/45012021/rocket-lab-lands-new-contract-builds-momentum-ahead-of-earnings" rel="noreferrer noopener">Rocket Lab Lands New Contract, Builds Momentum Ahead of Earnings</a>



Aspera will utilize a telescope to observe ultraviolet light, studying the hot gas known as the intergalactic medium that exists between galaxies and is believed to play a role in the formation of stars and planets.



This mission will be the first NASA astrophysics endeavor to collect and map these ultraviolet light signatures, potentially revealing deeper insights into the origins of stars, planets, and life in the universe.



Rocket Lab founder and CEO Sir Peter Beck stated, &#8220;As a long trusted launch partner for NASA&#8217;s most pioneering small satellites, it&#8217;s great to be able to continue that support for another innovative science mission like Aspera. Electron has proven itself to be the premier small launcher through complete launch schedule control and reliably accurate orbital deployment, and we&#8217;re looking forward to delivering that again for Aspera.&#8221;



In a separate release, Rocket Lab announced that its Pioneer spacecraft&nbsp;made a successful return to Earth on Wednesday, marking the company&#8217;s second Earth return mission in two months. Varda&#8217;s W-3 mission launched <a target="_blank" href="https://www.benzinga.com/25/05/45414422/rocket-lab-stock-is-rallying-wednesday-whats-going-on" rel="noreferrer noopener">15 days after the return of W-2</a>.



Last week, the company&nbsp;reported financial results for the first quarter, with revenues of $122.57 million, beating the&nbsp;consensus&nbsp;estimate of $121.38 million and loss of 12 cents per share, beating analyst estimates <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/05/45327779/rocket-labs-new-defense-deal-2025-forecast-win-analyst-support" rel="noreferrer noopener">of 13 cents loss per share</a>.



Investors can gain exposure to the stock via&nbsp;ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) and Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).



Price Action: RKLB shares are down 2.40% at $23.55 premarket at the last check on Thursday.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com//node/45143330" target="_blank" rel="noreferrer noopener">AI, Hypersonics,&nbsp;$24 Billion&nbsp;Market: Portfolio Manager Gives A Peek Inside GCAD&#8217;s Bet On Drone Warfare Dominance</a></li>
</ul>



Image by Emagnetic via Shutterstock

Contracts

ARKX

RKLB

Rocket Lab Gets NASA Contract To Launch Aspera Astrophysics Mission

U.S. stock futures were lower on Thursday after mostly closing higher on Wednesday. Futures of major benchmark indices were trading lower in premarket.



Wednesday saw a positive momentum in tech stocks led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) following the <a href="https://www.benzinga.com/news/large-cap/25/05/45405067/saudi-arabia-bets-big-on-ai-teams-up-with-aws-and-nvidia">deals with Saudi Arabia</a>, strong earnings from Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>). 



Nvidia CEO Jensen Huang, who last year sparked &#8220;Jensanity&#8221; among attendees, will headline this year&#8217;s <a href="https://www.benzinga.com/media/25/05/45426637/nvidia-ceo-jensen-huang-expected-to-unveil-new-ai-alliances-at-computex-2025-as-geopolitical-pressures-persist-over-tech-sector">annual Computex trade show</a>, which will run from May 20–23 in Taipei, reported Reuters. His keynote is expected to spotlight Nvidia&#8217;s deepening partnerships with Taiwanese firms like Foxconn and Quanta. 



Investors assessed the economic impacts of a tariff pause with China and await the Producer Price Index data slated to be released today.



The 10-year Treasury bond yielded 4.50% and the two-year bond was at 4.03%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>s projections show markets pricing a 91.7% 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>-0.42%</td></tr><tr><td>S&amp;P 500</td><td>-0.81%</td></tr><tr><td>Nasdaq 100</td><td>-0.63%</td></tr><tr><td>Russell 2000</td><td>-0.35%</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, fell in premarket on Thursday. The SPY was down 0.68% to $583.57, while the QQQ declined 0.87% to $514.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Driven by renewed risk appetite after U.S.-China trade negotiation progress, information technology and communication services sectors led gains on Wednesday, bucking the broader negative trend where health care, materials, and real estate stocks saw the biggest losses.



Overall, U.S. stocks settled mixed, with the S&amp;P 500 extending its gains for a third session, up over 4% week-to-date, while the Dow added around 2% and the Nasdaq surged over 6% for the week.



Notably, Nvidia and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares climbed significantly. Separately, U.S. mortgage applications saw a modest increase of 1.1%.



The Dow Jones index declined 89 points or 0.21% to 42,051.06, whereas the S&amp;P 500 index rose 0.10% to 5,892.58. Nasdaq Composite ended 0.72% higher at 19,146.81, and the small-cap gauge, Russell 2000, dropped 0.88% to 2,083.80.



<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>0.72%</td><td>19,146.81</td></tr><tr><td>S&amp;P 500</td><td>0.10%</td><td>5,892.58</td></tr><tr><td>Dow Jones</td><td>-0.21%</td><td>42,051.06</td></tr><tr><td>Russell 2000</td><td>0.88%</td><td>2,083.80</td></tr></tbody></table></figure>



Insights From Analysts:



According to Scott Wren, the senior global market strategist at Wells Fargo, despite having a bit of a surprise in the outcome in terms of the U.S.-China trade talks, &#8220;The bottom line is that many uncertainties remain.&#8221;



&#8220;The U.S. is in the early stages of trade negotiations. Given that, our guidance is to continue to lean toward higher-quality large- and mid-cap U.S. equities. In fixed income, we favor exposure to investment-grade corporates and essential-service municipal bonds in the three-to-seven-year maturity range,&#8221; he said.



He highlighted that the market bounce back hinged on a variety of factors, including better-than-expected earnings and, particularly, guidance during the first-quarter reporting season as well as expectations that some trade deals would be announced (i.e., last week's U.K. deal).



It also has helped that much of the reported data covering April has so far continued to show U.S. economic resilience, he explained.



Talking about the U.S.-China deal, he said, &#8220;Of course, as always, the devil is in the details, and a deal has not officially been inked. A lot can happen between now and then.&#8221;



Meanwhile, the analysts at BlackRock said that &#8220;We eye opportunities from mega forces,&#8221; adding that &#8220;We still see tariffs causing further contractions in quarterly activity but the cumulative impact may be more limited.&#8221;



&#8220;We still see supply disruptions upping inflation and hitting growth, but also a path to avoiding a U.S. contraction over 2025 as a whole. Mega forces, greater fiscal spending, and higher interest rates are driving select opportunities,&#8221; the note 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 Thursday:



<ul class="wp-block-list">
<li>The initial jobless claims data for the week ended May 10 will be out by 8:30 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>April&#8217;s U.S. retail sales, core and headline producer price index, May&#8217;s Empire State manufacturing survey, and Philadelphia Fed manufacturing survey will also be announced at 8:30 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>Fed Chairman Jerome Powell will speak at 8:40 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>April&#8217;s industrial production and capacity utilization will be out by 9:15 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>March&#8217;s business inventories data and May&#8217;s home builder confidence index will be released by 10:00 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>Fed Governor Michael Barr will speak at 2:05 p.m. ET.</li>



<li></li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Alibaba Group Holding Ltd. ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) fell 1.12% as analysts expect it to report quarterly earnings of $1.37 per share on revenue of $33.21 billion, before the opening bell.</li>
</ul>



<ul class="wp-block-list">
<li>Deere &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) was down 0.24% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $5.58 per share on revenue of $10.79 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) was 0.43% higher as analysts expect it to report quarterly earnings of 58 cents per share on revenue of $165.88 billion, before the opening bell.</li>
</ul>



<ul class="wp-block-list">
<li>Boot Barn Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) jumped 14.51% despite posting downbeat earnings for its fourth quarter, but issued first-quarter guidance with its midpoint above estimates. The company also announced a $200 million share repurchase program.</li>
</ul>



<ul class="wp-block-list">
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) advanced 3.44% after posting stronger-than-expected results for its third quarter and raising its fiscal 2025 guidance.</li>
</ul>



<ul class="wp-block-list">
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) was up 0.97% after it inked a record-breaking deal with Qatar Airways of up to 210 planes.</li>
</ul>



<ul class="wp-block-list">
<li>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) declined 4.87% after a report that the Justice Department is investigating the company for possible Medicare fraud.</li>
</ul>



<ul class="wp-block-list">
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) was 0.93% lower after announcing the redemption of &#8216;series G&#8217; preferred stock.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 3.99% to hover around $60.63 per barrel.



Gold Spot US Dollar fell 0.43% to hover around $3,164.60 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.31% at the 100.7260 level.



Asian markets ended lower on Thursday except India's S&amp;P BSE Sensex and Australia's ASX 200 index. Japan's Nikkei 225, Hong Kong's Hang Seng, South Korea's Kospi, and China&#8217;s CSI 300 indices declined. European markets were mostly lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a></li>
</ul>



Image Via Shutterstock

Asia

Earnings Beats

Earnings Misses

Macro Notification

Market Summary

Emerging Markets

Eurozone

Futures

Commodities

Forex

Treasuries

Federal Reserve

Pre-Market Outlook

General

BABA

BOOT

CRWV

NVDA

SCHW

US Stocks Likely To Open Lower After S&P 500's Three-Day Winning Streak: '...Many Uncertainties Remain,' Says Expert

Markets rallied hard on Monday as the US/China trade war was put on a <a href="https://www.benzinga.com/news/earnings/25/05/45368500/nasdaq-jumps-over-4-following-us-china-tariff-truce-investor-sentiment-improves-as-fear-index-remains-in-greed-zone">90-day timeout</a>. While tariffs of up to 30% remain in place on a large percentage of Chinese imports, the most crippling ones were removed, and the <a href="https://www.benzinga.com/government/regulations/25/05/45367206/sp-500-rallies-over-3-on-us-china-90-day-tariff-truce-but-experts-warn-it-doesnt-guarantee-a-complete-resolution-of-the-trade-war">S&amp;P 500 jumped</a> more than 3%.



But the tariff reset is not the only thing boosting markets lately. The tech sector has been quietly rallying as strong earnings have helped large-cap firms outperform the rest of the market. Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported strong Q1 earnings, including an impressive EPS number from META that came in 20% higher than expectations. Both stocks jumped following their reports, with MSFT leaping 10% and closing above $435 for the first time since January.



Large-cap tech has allowed the NASDAQ to comfortably outperform the S&amp;P 500 over the last couple of weeks. And if recent earnings and capex spending plans are any indication, the sector will continue to fuel the next leg of any potential market rally.



Here are four large tech stocks with momentum after earnings, pushing the stocks higher and higher.



Each stock has a highly anticipated conference call and a Benzinga Edge Momentum Score of at least 80.



<h2 class="wp-block-heading">Meta Platforms Inc.&nbsp;</h2>



Benzinga Edge Momentum Score: 82.82



Meta Platforms shares soared in February, riding a DiMaggio-esque streak of 20 consecutive up days to a new all-time high above $740 per share. However, a steep correction followed the impressive winning streak, and shares were back under $500 by the third week of April. But now, with tariff turbulence (maybe) in the rearview, earnings could become the focus, and META's quarter surpassed all expectations.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfqovRUVY8Ty3Ld-YaYe2Cr_O7jJtmSCfogzLpJubF4KZPfst_PF0DVDUgAflThpXQisRETSRYyOIzXFK-BBfDmPJRQnlu5uor0fhVTidyNSbo1gtjNi_sEVs54uKemtd7IviXu_g?key=CqqicioIG6xvemY45IDXvQ" alt=""/></figure>



On April 30, META reported Q1 EPS of $6.43 and revenue of $42.31B, handily surpassing analyst estimates, including a nearly 22% upside EPS beat. The company earned $16.64B in net income, a year-over-year increase of almost 35%. Profit margins also came in 15% higher than the previous year. META earns a spot on our list over MSFT because we believe there's more short-term upside in META shares, especially if the 50-day SMA and 200-day SMA continue converging. Based on 43 analyst reports, META shares are a consensus Buy with an average price target of $704, indicating 10% more potential upside from current levels.



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



Benzinga Edge Momentum Score: 96.14



Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is the biggest winner in the streaming wars, with a dominant market share amongst TV viewers and new forays into live sports and entertainment. The stock dipped under $200 per share in June 2022 at the peak of the bear market but now sits above $1100, a remarkable advance of more than 500% in less than three years. The company reported solid earnings on April 17, posting a modest revenue beat but an EPS figure 15% higher than analyst expectations.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfxM1390q2oirRmXLx_XDiDnCvY13K0Z9FiyjvylD8MseSxDirzWvoEWDgmCmIU4cPNqe9DHmgXbZa6UdjHpCSZmzKsyqt1K9dotPlS5t4UJf4reNX8EKa6xt0UUwVvqmZsy3fD?key=CqqicioIG6xvemY45IDXvQ" alt=""/></figure>



The $10.54 billion in revenue is still the most Netflix has ever done in a quarter, and the report was the fifth straight top and bottom line beat for the streaming giant. The stock also has strong technical signals, trading firmly above the 50-day and 200-day SMAs after bouncing off the 200-day SMA in early April. The company projects EPS of $7.04 and revenue of $11.04 billion in Q2 2025, and it received 11 price target boosts from analysts following the Q1 report. A recent oversold reading on the RSI triggered a short selloff, which could represent a good entry point for new investors.



<h2 class="wp-block-heading">Uber Technologies Inc.&nbsp;</h2>



Benzinga Edge Momentum Score: 85.44



Uber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) has been on a long path to profitability. Still, the company reported positive income in Q2 2023 and has made money in seven of the eight quarterly reports since then. Its Q1 2025 report was a serious improvement over Q4 2024, with EPS beating analyst expectations by more than 65% (negating a slight miss on revenue). One big positive has been the Uber One subscription service, which experienced 60% year-over-year growth and provides the company with a new model for customer retention. The stock is now up more than 44% year-to-date, including a 20% ascent in the last month.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcBY_VERnoIbSezsCuMBbzBMwQXdrjpq9Muj-OJ07iz92PScoQUtIAQ9k7qRIKdNcHaUvbTY2Mxcr30DXwsxPjZ8nRTstD4ySGabCSm0wziIFGmocv1eDV6-uKk2KOAwL_NQvJqxQ?key=CqqicioIG6xvemY45IDXvQ" alt=""/></figure>



UBER shares saw a Golden Cross form in March as the 50-day SMA crossed over the 200-day SMA, but the bullish momentum didn't kick in until the initial tariff pause on April 9. The momentum continued following the May 7 earnings report. Today, the stock trades comfortably above its 50- and 200-day SMAs. One possible trap to watch is on the RSI, where the reading approaches the overbought threshold of 70. However, Uber appears now to have fundamental and technical tailwinds at its back, and analysts remain bullish with a consensus Buy rating based on 34 research reports.



<h2 class="wp-block-heading">Palo Alto Networks&nbsp;</h2>



Benzinga Edge Momentum Score: 98.30



One of the highest momentum scores belongs to Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), a favorite during the post-COVID bull market. The stock also didn't suffer as hard as the rest of the tech sector during the 2022 bear market and has posted an overall gain of more than 400% in the last five years. While its earnings for Q1 haven't been released yet, the stock is showing signs of more upside ahead.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfOAyy2f-3CT4LiIyJmf3RarBt0dWe-PtJKFFUOs3Kra1038_v6USoHnFi2Y_FUcHP2T4Vw5CaHNud_fDDp0kjuzGtIIvwSxyo2d0XdEbCkRzYwEf8N5clZOFRW25bAuSYfbl7O?key=CqqicioIG6xvemY45IDXvQ" alt=""/></figure>



Palo Alto Networks doesn't report earnings until May 20, but investors appear to be positioning themselves for positive numbers. The 10-day exponential MA recently crossed the 20-day exponential MA, indicating short-term momentum brewing (EMAs give more weight to recent prices than SMAs). According to <a href="https://www.benzinga.com/tech/25/05/45357613/china-tariff-de-escalation-biggest-winners-include-tesla-apple-new-tech-highs-back-on-the-table-now-for-2025">Wedbush</a>, cybersecurity stocks could be a group that sees outsized gains after the reduction of the China tariffs. Palo Alto Networks reported a top and bottom line beat for its Q4 2024 report; analysts expect an EPS of 0.77 and revenue of $2.28B for Q1 2025. The stock is rated a consensus Buy based on 43 analyst reports, with an average price target of $311, which indicates an upside potential of more than 35%.



<h2 class="wp-block-heading">How Matt Maley Is Trading Tariff Volatility For Triple-Digit Gains</h2>



Today, Tuesday, at 6 PM ET, 35-year Wall Street veteran Matt Maley is going live to show how he's navigating today's macro-fueled market—and targeting explosive short-term trades. You'll get his top trade setups, key tickers, and the levels he's watching now. Reserve your seat <a href="https://events2.benzinga.com/matt-maley-webinar-wed-may14-2025-registration/?utm_campaign=webinar051425&amp;utm_adType=sponsorad&amp;utm_ad=RD051325">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

MSFT

NFLX

PANW

4 Tech Stocks With Huge Earnings Momentum

President Donald Trump said he told Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook about the tech giant&#8217;s manufacturing expansion in India, revealing details of their conversation during a news conference in Doha, Qatar, on Thursday.



What Happened: &#8220;I had a little problem with Tim Cook yesterday&#8230; I said to him, &#8216;Tim, you&#8217;re my friend, we treated you very good&#8230; but now I hear you&#8217;re building all over India. I don&#8217;t want you building in India,&#8221; Trump stated.



The exchange comes as Apple accelerates its <a href="https://www.benzinga.com/25/04/45014074/apple-plans-iphone-shift-from-china-to-india-amid-tariff-pressures-geopolitical-risks">shift away from China-based manufacturing</a>. During Apple&#8217;s recent earnings call, Cook confirmed the company expects &#8220;the majority of iPhones sold in the U.S. will have India as their country of origin&#8221; for the June quarter.



Trump emphasized India&#8217;s tariff policies during his remarks, stating: &#8220;India is one of the highest tariff nations in the world. It&#8217;s very hard to sell into India.&#8221;



According to Trump, Indian officials have offered to drop tariffs on U.S. goods amid ongoing trade negotiations. &#8220;They&#8217;ve offered us a deal where basically they&#8217;re willing to literally charge us no tariff,&#8221; Trump said.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Trump in Qatar: Says India Offered to Remove All Tariffs on US Goods" width="500" height="281" src="https://www.youtube.com/embed/q7gldKHkrMI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



See Also: <a href="https://www.benzinga.com/25/05/45429715/robert-de-niro-slams-trump-as-a-philistine-urges-hollywood-to-resist-the-wrath-of-the-president-you-just-cant-let-the-bully-win">Robert De Niro Slams Trump As A &#8216;Philistine,&#8217; Urges Hollywood To Resist &#8216;The Wrath&#8217; Of The President: &#8216;You Just Can&#8217;t Let The Bully Win&#8217;</a>



Why It Matters: Apple has invested significantly in U.S. operations, with Trump <a href="https://www.benzinga.com/markets/25/05/45417037/apple-may-up-its-numbers-amid-china-tariff-truce-trump-talks-500-billion-us-investment-after-tim-coo">noting the company has committed</a> $500 billion to domestic manufacturing, including AI server assembly in Houston. &#8220;They&#8217;re going to be upping their production in the United States,&#8221; he added.



The Trump administration has pushed Apple to relocate iPhone production to the U.S., a move that BofA Securities analyst Wamsi Mohan estimates could increase <a href="https://www.benzinga.com/25/04/45014074/apple-plans-iphone-shift-from-china-to-india-amid-tariff-pressures-geopolitical-risks">iPhone costs by 25% due to higher</a> labor expenses.



Wedbush Securities analyst Dan Ives recently raised his Apple price target to $270, citing &#8220;incremental confidence&#8221; in the company&#8217;s India supply chain <a href="https://www.benzinga.com/markets/equities/25/05/45157565/dan-ives-raises-apple-price-target-to-270-says-worst-case-scenario-off-the-table-for-iphone-tariffs-as-tim-cook-reveals-made-in-india-move">strategy amid tariff concerns</a>.



Price Action: Apple Inc.&#8217;s stock closed at $212.33 on Wednesday, down 0.28% for the day. In pre-market trading, the stock declined further to $210.97, a drop of 0.64%. Year to date, Apple shares are down 12.93%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/health-care/25/05/45426769/unitedhealth-stock-plunges-over-8-in-after-hours-trading-as-doj-criminal-probe-adds-to-turmoil-after-ceo-shake-up">UnitedHealth Stock Plunges Over 8% In After-Hours Trading As DOJ Criminal Probe Adds To Turmoil After CEO Shake-Up</a></li>
</ul>



Image Via Shutterstock



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

Trump Had A 'Little Problem' With Apple CEO Tim Cook, Says 'I Don't Want You Building In India'

During the pre-market trading session on Thursday, Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) fell 2.56%, Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) declined 2.39%, while Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) fell 1.50% as oil prices saw a considerable drop. This decline is attributed to the potential U.S.-Iran nuclear deal and a sudden increase in U.S. crude oil inventories, triggering concerns of oversupply.



What Happened: Oil prices plunged by more than $2, spurred by the prospects of a nuclear deal between the U.S. and Iran that could result in relaxed sanctions. At the same time, an unexpected rise in U.S. crude oil inventories last week has intensified oversupply worries. U.S. crude oil inventories rose by 3.5 million barrels to 441.8 million last week, contrary to analysts&#8217; expectations of a 1.1 million-barrel decrease, according to the Energy Information Administration, reported Reuters.



Brent crude futures fell $2.48, or 3.75%, to $63.61 a barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped $2.66, or 4.18%, to $60.53 at 0920 GMT.



On Thursday, U.S. President Donald Trump announced that the U.S. was nearing a final agreement on a nuclear deal with Iran, stating that Tehran had &#8220;sort of&#8221; agreed to the terms. This came after an Iranian official told NBC News on Wednesday that Iran was prepared to make a deal with the U.S. if economic sanctions were lifted.



 John Evans, analyst at PVM Oil, stated, &#8220;The crude build in the EIA Inventory Report has chased down the prices, and the move is accelerated by what appears to be a cooling of animosity in the US/Iran nuclear negotiations.&#8221;



At the same time, the International Energy Agency raised its average oil demand growth forecast for 2025 to 740,000 barrels per day—an increase of 20,000 bpd from its previous report—citing stronger economic growth projections and lower oil prices as factors driving increased consumption.



SEE ALSO: <a href="https://benzinga.com/25/05/45427077/bitcoin-flat-ethereum-dogecoin-slip-analytics-firm-highlights-resurgence-in-btc-retail-interest-but-a-brief-pullback-might-be-close-by" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Slip: Analyst Firm Sees &#8216;Significant Recovery&#8217; In Retail Interest But A Pullback Might Be Imminent &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undi</a>



Why It Matters: Earlier this month, economist Peter Schiff <a href="https://www.benzinga.com/markets/commodities/25/05/45158813/trump-may-be-getting-lower-oil-prices-but-its-not-due-to-drill-baby-drill-peter-schiff-says-its-more-of-a-chill-baby-chill-scene-out-there">stated </a>that the decline in oil prices is less about a sudden market flood and more about a warning sign for a faltering global economy. 



He argued that oil prices are dropping as global trade is stalling and recession fears are throttling demand. This context provides a broader perspective on the current oil price situation, suggesting that larger economic factors are at play. 



Notably, the International Energy Agency (IEA) raised its average oil demand forecast for 2025 but expects global oil demand growth to slow to 650,000 barrels per day for the rest of the year, down from 990,000 bpd growth seen in the first quarter, due to economic challenges and record electric vehicle sales.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Is &#8216;Letting Cartel Members&#8217; Into The US, Asks How Much &#8216;Memecoin&#8217; Did They Pay</a></li>
</ul>



Image via Shutterstock



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

Occidental Petroleum, ExxonMobil, Chevron Fall In Pre-Market As Oil Prices Plunge Amid Trump's US-Iran Nuclear Deal Comments

The crisis at UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) continues to deepen, with a new criminal investigation by federal authorities, following the abrupt departure of its CEO, and a steep decline in stock prices.



What Happened: UnitedHealth is reportedly under criminal investigation by the U.S. Department of Justice for possible Medicare fraud, according to a Wall Street Journal <a href="https://www.wsj.com/us-news/unitedhealth-medicare-fraud-investigation-df80667f">report</a>, which cited people familiar with the matter.



The probe, overseen by the DOJ&#8217;s criminal healthcare fraud division, has reportedly been active since at least last summer and is focused on UnitedHealth's Medicare Advantage business practices. It marks the latest in a string of challenges facing the health insurance giant in recent months.



This comes just a day after the <a href="https://www.benzinga.com/25/05/45373368/unitedhealth-stock-plunges-names-new-ceo-suspends-2025-guidance">sudden exit of CEO</a> Andrew Witty, who has since been replaced by the company&#8217;s Chairman and former CEO, Stephen Hemsley. 



While the DOJ has struggled to secure convictions in past Medicare fraud claims against UnitedHealth, the criminal nature of the current probe raises the stakes significantly as the company contends with mounting regulatory scrutiny and a declining stock price.



The company, however, has since responded to Benzinga in a press release stating that it has not been notified of any supposed criminal investigation by the DOJ. It further adds that WSJ&#8217;s reporting is deeply irresponsible, and that the company stands by the integrity of its Medicare Advantage program.



See Also: <a href="https://www.benzinga.com/25/05/45425598/elon-musks-dad-says-its-wonderful-he-has-14-kids-and-doesnt-need-to-follow-so-called-morals-hes-not-married-h">Elon Musk&#8217;s Dad Says It&#8217;s &#8216;Wonderful&#8217; He Has 14 Kids And Doesn&#8217;t Need To Follow &#8216;So-Called Morals&#8217; —&#8217;He&#8217;s Not Married, He Can Do Whatever He Likes&#8217;</a>



Why It Matters: The company has been <a href="https://benzinga.com/general/health-care/25/05/45424904/unitedhealth-stock-caught-in-a-perfect-storm-falls-nearly-50-since-april">caught in a perfect storm</a> in recent months, with the stock down nearly 50% since April, owing to a string of negative catalysts. 



UnitedHealth decided to <a href="https://www.benzinga.com/25/05/45373368/unitedhealth-stock-plunges-names-new-ceo-suspends-2025-guidance">suspend its outlook</a> for 2025 early this week, citing the continuing acceleration in care activity, adding to the stock&#8217;s woes. 



This comes amid a <a href="https://www.benzinga.com/general/health-care/25/05/45305392/unitedhealth-investors-claim-company-hid-profit-impact-of-ceos-murder">fresh shareholder lawsuit</a>, which claims that the company hid the potential impact of its former CEO, Brian Thompson&#8217;s murder in December 2024, and the resulting backlash and regulatory scrutiny.



In February, investor Bill Ackman said in a post on X that when a company attacks its critics, the probability of it having committed fraud or being guilty of a crime &#8220;increases substantially.&#8221; 



&#8220;When you find two cockroaches, it is almost a certainty that there are many more. And a half a trillion market cap for a health insurer makes no sense,&#8221; he said. 



<figure class="wp-block-embed aligncenter 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">When a company, in this case United Healthcare, attacks its critics, the probability that it has committed fraud or is guilty of a crime increases substantially. This morning the DOJ announced an investigation into UNH's Medicare billing practices. The DOJ did not do this… <a href="https://t.co/BX3WtYzRJi">https://t.co/BX3WtYzRJi</a>&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1892912458840547554?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Price Action: The stock was down 1.08% on Wednesday, trading at $308.01, and is down 8.08% after hours after news of the criminal investigation was made public. 



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="138" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM-1024x138.png" alt="" class="wp-image-915844" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM-1024x138.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM-300x40.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM-768x103.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM-1536x206.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14215541/Screenshot-2025-05-15-at-7.24.44-AM.png 1592w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



According to Benzinga&#8217;s Edge Stock Rankings, UnitedHealth stock is placed in the 11th percentile on Momentum. How does it compare with peers such as Aetna Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AET#NYSE">AET</a>)? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out more</a>. 



Photo: JHVEPhoto / Shutterstock



Read More: <a href="https://www.benzinga.com/government/regulations/25/05/45419575/capital-one-sued-by-new-york-over-hidden-interest-rate-scheme-that-cost-consumers-millions">Capital One Sued By New York Over Hidden Interest Rate Scheme That Cost Consumers Millions</a>

Health Care

UnitedHealth Stock Plunges Over 8% In After-Hours Trading As DOJ Criminal Probe Adds To Turmoil After CEO Shake-Up

Leading cryptocurrencies dipped on Wednesday as investors took profits on the recent advances.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.62%</td><td>$103,341.39</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.75%</td><td>$2,595.81</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-4.66%</td><td>$0.2310</td></tr></tbody></table></figure>



What Happened: Bitcoin wiggled between $103,000 and $104,000 throughout the day, even as trading volume for the coin dipped nearly 12% in the last 24 hours.



Ethereum slipped below $2,600 in a wave of profit-taking after the second-largest cryptocurrency pushed beyond a 10-week high of $2,700 the day before.



Over $280 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish long bets accounting for 76%.&nbsp;



Meanwhile, nearly $500 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rallied to $106,000.



Bitcoin's Open Interest fell 1.87% in the last 24 hours, while bets against the cryptocurrency in the Binance derivatives market stayed more than 50%



The magnitude of "Greed" sentiment fell from 73 to 70, according to the Crypto Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9:30 p.m. ET)</td></tr><tr><td>Helium (HNT)</td><td>+7.32%</td><td>$4.22</td></tr><tr><td>Quant (QNT)</td><td>+2.09%</td><td>$100.01</td></tr><tr><td>UNUS SED LEO (LEO)</td><td>+1.97%</td><td>$8.88</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.34 trillion, following a dip of 1.90% in the last 24 hours.



The S&amp;P 500 extended its gains on Wednesday. The broad-based index rose 0.10% to close at 5,892.58, while the tech-focused Nasdaq Composite gained 0.72% to end at 19,146.81. The Dow Jones Industrial Average fell for the second straight day, losing 89.37 points, or 0.21%, to end at 42,051.06.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) contributed to the tech rally, jumping more than 4% on news <a href="https://www.benzinga.com/news/large-cap/25/05/45414265/nvidia-climbs-on-saudi-ai-investments-analyst-estimates-15-billion-to-20-billion-in-revenue">that it would export semiconductor chips</a> to Saudi Arabia.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: On-chain analytics firm CryptoQuant noted that Bitcoin's rally has resulted in a renewed interest among retail investors.



Retail investors are those with balances ranging from $0 to $10,000.



"From April 28th, when this trend turned positive, until May 13th, there has been a +3.40% increase in purchases by this group," CryptoQuant said. "As they enter the market, they tend to create a positive feedback loop, reinforcing bullish narratives and increasing buying pressure.



<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">From FOMO to Fundamentals: Retail Surges into Bitcoin "From April 28th, when this trend turned positive, until May 13th, there has been a +3.40% increase in purchases by this group, reflecting a significant recovery in small investor interest." – By <a href="https://twitter.com/oro_crypto?ref_src=twsrc%5Etfw">@oro_crypto</a> <a href="https://t.co/ohm5PDwq06">pic.twitter.com/ohm5PDwq06</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1922590807124476372?ref_src=twsrc%5Etfw">May 14, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Conversely, cryptocurrency analyst and trader Ali Martinez warned of a "brief pullback" for the leading cryptocurrency, citing an overbought Relative Strength Index.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> may be due for a brief pullback, with the RSI now signaling overbought conditions. <a href="https://t.co/UmaO5NsMv8">pic.twitter.com/UmaO5NsMv8</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1922805879654531106?ref_src=twsrc%5Etfw">May 15, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Igor Faun on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-they-pay">Chuck Schumer Says Trump Is &#8216;Letting Cartel Members&#8217; Into The US, Asks How Much &#8216;Memecoin&#8217; Did They Pay</a></li>
</ul>

Cryptocurrency

$DOGE

$ETH

Bitcoin Flat, Ethereum, Dogecoin Slip: Analyst Firm Sees 'Significant Recovery' In Retail Interest But A Pullback Might Be Imminent

On Wednesday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), a sell-off of Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) , and strategic adjustments in cryptocurrency ETFs like the 3iQ Solana Staking ETF (SOLQ.U) and ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).



The Airbnb Trade



Ark Invest&#8217;s flagship fund, the Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), acquired 214,624 shares of Airbnb. This move coincided with Airbnb&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45415824/whats-going-on-with-airbnb-stock-today">announcement of a major platform expansion</a>, integrating services and experiences into its app, aiming to broaden its business scope beyond traditional lodging. The purchase reflects Ark&#8217;s confidence in Airbnb&#8217;s growth trajectory, especially with the company&#8217;s strategic shift. On Wednesday, Airbnb shares ended the day at $137.45, the Ark trade was valued at $29.5 million.



The Palantir Trade



In contrast, ARKK offloaded 206,881 shares of Palantir. This decision comes <a href="https://www.benzinga.com/trading-ideas/technicals/25/05/45408452/stock-of-the-day-palantir-breaks-out-sell-news-rally">amid Palantir&#8217;s stock rally</a>, which has been described as a classic &#8216;sell the news&#8217; scenario. Despite positive earnings, Palantir&#8217;s stock has been on an upward trend, suggesting that Ark Invest might be capitalizing on current market conditions. Ark&#8217;s Wednesday trade was valued at $26.9 million. Palantir shares ended the day at $130.18. On Tuesday, Ark had offloaded 4,791 Palantir shares worth $613,727. Ark has been reducing its Palantir exposure. Currently, the Alex Karp-led company accounts for 5.75% of the total holdings of Ark.



The 3iQ Solana Staking ETF Trade and The ARK 21Shares Bitcoin ETF Trade



Ark Invest continues to show interest in the cryptocurrency space by purchasing 550,000 shares of the 3iQ Solana Staking ETF through both Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>) and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>). This ETF has gained traction since its debut, offering exposure to Solana&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) price movements and staking rewards. On Wednesday, SOLQ.U ended the day at $13.86 in Toronto, making the Ark trade worth $7.6 million.



Meanwhile, Ark Invest reduced its holdings in the ARK 21Shares Bitcoin ETF, selling 76,461 shares in ARKF and ARKW. Notably, Ark had on earlier occasions <a href="https://www.benzinga.com/25/04/44855538/cathie-woods-crypto-shuffle-pours-5-2-million-into-newly-listed-solana-staking-fund-dumps-bitcoin-etf-and-buys-robinhood-dip">reduced its exposure</a> to its own Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fund. Wednesday&#8217;s trade was valued at $7.9 million. ARKB ended the day at $103.01.



Other Key Trades:



<ul class="wp-block-list">
<li>Sold 668,918 shares of Avidxchange Holdings Inc. in ARKF.</li>



<li>Sold 132,149 shares of UiPath Inc. in ARKF.</li>



<li>Bought 31,983 shares of CRISPR Therapeutics AG in ARKK.</li>



<li>Bought 22,471 shares of GitLab Inc. in ARKW.</li>



<li>Bought 32,188 shares of Nextdoor Holdings Inc. in ARKW.</li>
</ul>



Photo Courtesy: T. Schneider on Shutterstock.com



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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

$SOL

ABNB

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ARKW

PLTR

Cathie Wood's Wednesday Wisdom? Bets On Airbnb's Platform Expansion, Dumps Palantir At Peak

CoreWeave Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) reported financial results for the first quarter after the market close on Wednesday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/05/n45419679/coreweave-reports-strong-first-quarter-2025-results">of the report</a>.



Q1 Earnings: CoreWeave reported first-quarter revenue of $981.63 million, beating analyst <a href="http://benzinga.com/quote/crwv/earnings">estimates</a> of $859.77 million, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company reported a first-quarter adjusted loss of $1.49 per share.



Total revenue was up 420% on a year-over-year basis. The company said it ended the quarter with a revenue backlog of $25.9 billion. CoreWeave noted that a strategic deal with OpenAI during the quarter added $11.2 billion in revenue backlog. 



The company reported $1.01 billion in operating expenses during the period, up 487% year-over-year, and ended the quarter with $1.28 billion in cash and cash equivalents. 



&#8220;We&#8217;ve delivered an outstanding start to 2025 on multiple fronts. Our strong&nbsp;first quarter&nbsp;financial performance caps a string of milestones including our IPO, our major strategic deal with OpenAI as well as other customer wins, our acquisition of Weights &amp; Biases and many technical achievements,&#8221; said Michael Intrator, co-founder and CEO of CoreWeave.



&#8220;Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand. The future runs on CoreWeave.&#8221;



CoreWeave executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET. The company noted that it will provide forward guidance on the call.



CoreWeave has operated data centers across the U.S. and&nbsp;Europe since 2017. The company provides access to Nvidia GPUs to large technology and AI-focused companies.&nbsp;CoreWeave made its public debut on the Nasdaq at $40 per share in March.



CRWV Price Action: <a href="http://benzinga.com/quote/crwv">CoreWeave shares</a> were trading at all-time highs heading into Wednesday&#8217;s report, its first as a public company. The stock was up 7.92% at $68.97, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



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Photo: Shutterstock.

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Nvidia-Backed CoreWeave Reports Q1 Earnings: Revenue Jumps 420%, Backlog Grows To $25.9 Billion Following OpenAI Deal, Shares Hit All-Time Highs

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