Amcor (NYSE:AMCR) Azioni

Amcor

Amcor is a global producer of plastic packaging primarily for the fast-moving consumer goods industry. About 90% of earnings are exposed to the flexible packaging business. This is soft disposable plastic for a variety of food, drink, healthcare, and hygiene products. The remainder of earnings are from the Latin and North American rigids business, which is primarily beverage bottling for the soft drink industry. Operating in more than 35 countries, Amcor has market share in its established regions of North America, Latin America, Europe, and Asia-Pacific. About half of group sales are derived from North America and the remainder is split equally between Western Europe and emerging markets. Australia and New Zealand sales make up less than 5% of group sales.

Amcor PLC

Maye Musk, mother of Tesla Inc. CEO Elon Musk, revealed on Sunday a 1989 computer aptitude test showing her son&#8217;s exceptional engineering potential at age 17.
What Happened: &#8220;While sorting through photos, I came across computer aptitude test results of Elon Musk at 17. My genius boy. Proud mom,&#8221; the 77-year-old model and dietitian wrote on X.
The University of Pretoria document, dated May 17, 1989, shows Musk received A+ scores in both operating and programming on ISM tests, results that the tech mogul claimed were unprecedented.
&#8220;They said I scored the highest for engineering aptitude that they had ever seen,&#8221; Musk commented. &#8220;Or, in other words, not bad for a human, as a future AI might say.&#8221;
This revelation comes amid Musk&#8217;s continued focus on artificial intelligence through his companies, xAI and Tesla, which are developing AI technologies for various applications.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While sorting through photos, I came across computer aptitude test results of <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> at 17. My genius boy. Proud mom. <a href="https://t.co/1MeWDSQ6FZ">pic.twitter.com/1MeWDSQ6FZ</a>
&mdash; Maye Musk (@mayemusk) <a href="https://twitter.com/mayemusk/status/1924125278697034206?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As &#8216;Greed&#8217; Sentiment Takes Over: Analyst Predicts BTC &#8216;Primed&#8217; For A New All-Time High</a>
Why It Matters: The aptitude scores offer insight into Musk&#8217;s early technical abilities, long before founding companies like SpaceX and becoming CEO of Tesla. These early <a href="https://www.benzinga.com/personal-finance/25/05/45336279/elon-musks-77-year-old-mom-says-i-have-to-sleep-in-the-garage-and-on-floor-blankets-when-visiting-her-son-richest-man-in-the-world-we-adapt">indicators of technical prowess</a> preceded his emergence as the world&#8217;s richest individual, currently worth over $381 billion according to the Bloomberg Billionaires Index.
Despite her son&#8217;s immense wealth, Maye Musk recently revealed she sleeps in modest accommodations when visiting him. &#8220;You can&#8217;t have a fancy house near a rocket site,&#8221; she <a href="https://www.benzinga.com/personal-finance/25/05/45336279/elon-musks-77-year-old-mom-says-i-have-to-sleep-in-the-garage-and-on-floor-blankets-when-visiting-her-son-richest-man-in-the-world-we-adapt">explained in a previous interview</a>, referencing his Texas SpaceX facility.
Maye has frequently <a href="https://www.benzinga.com/general/entertainment/24/07/39657381/elon-musks-mother-recounts-time-her-children-used-to-ask-for-food-she-couldnt-afford-after-">recounted the family&#8217;s humble beginnings</a> following her 1979 divorce, when financial constraints meant feeding her children bean stew rather than expensive cereals. &#8220;I remember Elon saying, &#8216;I always wanted Coco Pops, but we only got Raisin Bran,'&#8221; she told Fox News.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Elon Musk's Mother Shares 1989 Aptitude Test Results Revealing 'Highest Engineering Aptitude' Score Of Tesla CEO At Age 17

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Reported Earlier, Chinese Unemployment Rate For April 5.1% Vs. 5.2% Est.; 5.2% Prior

Reported Earlier, China Industrial Production Year to Date (YoY) For April 6.4% Vs. 6.5% Prior

Reported Earlier, China Industrial Production (YoY) For April 6.1% Vs. 5.7% Est.; 7.7% Prior

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Sohu.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOHU#NASDAQ">SOHU</a>) reported quarterly losses of $(0.55) per share. This is a 15.38 percent increase over losses of $(0.65) per share from the same period last year. The company reported $135.65 million in sales this quarter. This is a 2.69 percent decrease over sales of $139.39 million the same period last year.

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Sohu.com Q1 Adj. EPS $(0.55) Up From $(0.65) YoY, Sales $135.65M Down From $139.39M YoY

Last week, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai revealed that the tech giant once came close to acquiring Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
What Happened: In a new interview on the All-In Podcast, Pichai was asked by David Friedberg about the biggest regrets or missed opportunities during his tenure as CEO.
While Pichai said that he tries not to dwell on regrets, when pressed further, he acknowledged one major what-if: Netflix.
"Maybe Netflix, right?" Pichai said. "We debated Netflix at some point super intensely inside."
"I wouldn't call it regrets, but you always look back … in a world of butterfly effects, there were alternate paths, but maybe they are in a different part of the multiverse."
See Also: <a href="https://www.benzinga.com/tech/25/05/45484235/facebook-vs-orkut-one-became-meta-with-a-1-6-trillion-market-cap-the-other-was-shut-down-by-google-heres-why">Facebook Vs. Orkut: One Became Meta With A $1.6 Trillion Market Cap, The Other Was Shut Down By Google: Here&#8217;s Why</a>
Pichai also discussed Alphabet's broader innovation strategy, noting that despite appearing as a holding company, Alphabet focuses deeply on technology-first solutions.
"We are not just looking to invest capital in other attractive businesses," he said, adding that the company looks for problems where its technology and R&amp;D can provide a differentiated value proposition.
He cited innovations like Waymo, Google Cloud and AI advancements through Gemini and DeepMind as examples of Alphabet's approach to incubating transformative businesses rooted in foundational research.
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Why It&#8217;s Important: Over the years, Google has made several <a href="https://www.benzinga.com/25/04/44986406/if-you-invested-1000-in-google-stock-when-it-acquired-youtube-heres-how-much-youd-have-today">successful acquisitions</a> like YouTube, Android and Waze.
While Netflix focused early on original, data-driven content and global productions to become a major entertainment player, Google prioritized user-generated content through YouTube.
The two companies took different paths: Netflix bet on premium storytelling, while Google emphasized scale and creator-driven platforms.
In April, Alphabet <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">reported first-quarter revenue</a> of $90.23 billion, marking a 12% increase from the same period last year. The figure surpassed the Street consensus estimate of $89.2 billion. YouTube advertising revenue came in at $8.9 billion, ahead of the expected $8.1 billion.
Netflix <a href="https://www.benzinga.com/general/entertainment/25/04/44877995/netflix-crushes-q1-says-its-working-hard-to-improve-and-expand-its-offering">reported first-quarter revenue</a> of $10.54 billion, reflecting a 12.5% year-over-year increase. The result slightly exceeded the Street consensus estimate of $10.52 billion.
Price Action: In after-hours trading, Alphabet Inc.&#8217;s Class A shares dropped 1.64%, and Class C shares slipped 1.54%. Meanwhile, Netflix shares declined by 0.88%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Alphabet has a growth score of 66.98% based on Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to compare it with other companies</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19003110/Screenshot-2025-05-19-at-10.01.04%E2%80%AFAM.png" alt="" class="wp-image-919188" /></a></figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

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Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: 'In A World Of Butterfly Effects…'

Pepe and cryptocurrencies tied to "Kekius Maximus" rallied Sunday night after tech mogul Elon Musk changed his X avatar to one centered on the fictional character.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Kekius Maximus soared 7% in the last 24 hours to a market capitalization of $1.8 million, <a href="https://coinmarketcap.com/currencies/kekius-maximus-army/">according </a>to CoinMarketCap.
Alongside, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based frog-themed PEPE popped over 5%, becoming one of the market's biggest gainers in the 24-hour period. Notably, PEPE's trading volume nearly tripled to $2.19 billion, making it the second-most traded meme coin after Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
Top Gainer (24-Hours)
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 12:30 a.m. ET)</td>
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<td>Kekius Maximus (KM) </td>
<td>+7.76%</td>
<td>$0.001782</td>
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<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+5.22%</td>
<td>$0.00001295</td>
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The rally comes after Musk changed his X profile name to Kekius Maximus and updated his profile picture, depicting him as an ancient warrior called &#8220;Emperor Kekius Maximus.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="596" height="496" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13.png" alt="" class="wp-image-919195" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13.png 596w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13-300x250.png 300w" sizes="(max-width: 596px) 100vw, 596px" /></figure>
Screenshot From Elon Musk&#8217;s X Account
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold</a>
Kekius Maximus—a combination of "Pepe the Frog" and &#8220;Maximus Decimus Meridius,&#8221; the iconic character from the movie Gladiator—shot to prominence after <a href="https://www.benzinga.com/24/12/42739155/elon-musk-changes-his-name-to-kekius-maximus-on-x-sending-to-memecoin-skyrocketing-over-600">Musk used it as his X profile name</a> on New Year's Eve 2024. The coin exploded 600%, accumulating millions in market capitalization.
However, the asset lost all its gains after Musk abandoned the avatar. Since then, the speculative asset has <a href="http://benzinga.com/25/03/44429523/elon-musks-new-x-post-sends-kekium-maximus-soaring-75frog-themed-pepe-also-rallies">experienced brief bursts of dramatic growth</a>, aided, of course, by Musk&#8217;s social media activity.
Benzinga Note: Investing in meme coins that lack community support is highly speculative and involves significant risk. They often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.
Shutterstock/Joshua Sukoff
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45428552/peter-schiff-once-questioned-wisdom-of-hodling-ethereum-at-1200-since-then-the-second-largest-crypto-has-soared-116">Peter Schiff Once Questioned Wisdom Of HODLing Ethereum At $1,200 —Since Then, The Second-Largest Crypto Has Soared 116%</a></li>
</ul>

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$PEPE

$SOL

Elon Musk's New 'Emperor Kekius Maximus' Avatar Sends Pepe And This Namesake Coin Rallying

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pursues fresh all-time highs, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Chairman Michael Saylor&#8217;s wealth multiplication strategies for average wage earners, revolving around the apex cryptocurrency, are back in the spotlight.
What Happened:&nbsp;In a recent interview with podcaster Natalie Brunell, Saylor was asked&nbsp;about the best strategies for an average person to grow their wealth by 100x. 
Saylor advised traders not to quit their jobs and avoid extravagant spending on luxury items like sports cars like Ferrari and yachts, which he described as &#8220;obscenely expensive.&#8221;
&#8220;You would be better invested in an asset that&#8217;s going up 30% a year for the next 20 years, Saylor said, suggesting they rather buy Bitcoin, which he estimates will balloon to $13 million apiece by 2045.
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See Also:&nbsp;<a href="https://benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As &#8216;Greed&#8217; Sentiment Takes Over: Analyst Predicts BTC &#8216;Primed&#8217; For A New All-Time High</a>
He further recommended leveraging mortgage debt to invest in Bitcoin. 
&#8220;If I have any kind of property you know, if I have a house, I would put a long mortgage on it, a 10-year mortgage or a 15 or 20-year mortgage on it, especially a conforming loan and then I would roll it into Bitcoin,&#8221; Saylor said. &#8220;It&#8217;s the cheapest form of permanent capital that someone can get.&#8221;
Saylor&#8217;s argument was that mortgage debt is secured against a &#8220;fairly stable&#8221; asset and the interest rates are subsidized by the government. However, data showed that mortgage rates have been steadily rising.
The 30-year fixed mortgage rate <a href="https://www.benzinga.com/news/25/05/45311797/the-financial-hurdles-to-owning-a-home-have-rarely-been-higher-says-bmo-as-fed-holds-rates-extending-wait-for-homebuyers">shot up to 6.90%</a> for the week ending May 9, up from 6.81% the previous week and reaching the highest level in two months. This marked a sharp increase from the 3.5% rates seen before 2022 that resulted in a Covid-era housing boom.
Why It Matters:&nbsp;Saylor&#8217;s advice underscored his belief in Bitcoin as a long-term investment. One of the most vocal advocates of the apex cryptocurrency, he has put his money where his mouth is, driving his firm Strategy to the forefront of Bitcoin&#8217;s corporate adoption. As of this writing, Strategy held a stash worth over $59 billion as of this writing,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to bitcointreasuries.net.
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $104,165.07, up 0.98% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The cryptocurrency briefly rose above $107,000 late Sunday evening.
Shares of Strategy closed 0.70% higher at $399.80 during Friday&#8217;s regular session.
MSTR stock exhibited a very high momentum score as of this writing. To find out which other companies logged a momentum score in excess of 90, visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="500" height="185" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624.png" alt="" class="wp-image-919132" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624.png 500w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624-300x111.png 300w" sizes="(max-width: 500px) 100vw, 500px" /></figure>
Photo Courtesy: wedmoments.stock On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45485038/robert-kiyosaki-predicts-bitcoin-to-reach-250000-buy-more-do-not-sell" target="_blank" rel="noreferrer noopener">Robert Kiyosaki Predicts Bitcoin To Reach $250,000: &#8216;Buy More. Do Not Sell&#8217;</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$BTC

MSTR

Michael Saylor Has A Tip For Average People Looking To Grow Their Wealth By 100x, But He Doesn't Want You To Quit Your Job To Invest In Bitcoin

Tom Lee, co-founder and research head at Fundstrat Global Advisors, endorsed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on Sunday, writing &#8220;bitcoin is the way&#8221; in response to Strike CEO Jack Mallers&#8216; prediction that the cryptocurrency is poised to &#8220;go nuclear.&#8221;
What Happened: Mallers, whose Zap company created the popular no-fee Bitcoin Lightning Network app Strike, argued in a video that economic conditions are creating perfect circumstances for Bitcoin&#8217;s rise, particularly citing government monetary policies.
&#8220;They&#8217;re gonna have to print so much money,&#8221; Mallers said. &#8220;Bitcoin is really priced with how much currency slashing around in the world and in order for all of this to work, we have to debase our current value, our debt, and we have to create more.&#8221;
The endorsements come as <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">Bitcoin touched $107,000 Sunday</a>, its highest level in nearly four months. The cryptocurrency has gained over 11% this month, with trading volumes increasing by almost 50% in the latest rally.
See Also: <a href="https://www.benzinga.com/25/05/45486040/chuck-schumer-raises-concerns-over-trump-and-doge-impact-on-us-coast-guard-after-mexican-ship-collides-with-brooklyn-bridge-we-know-theyve-been-meddling">Chuck Schumer Raises Concerns Over Trump And DOGE Impact On US Coast Guard After Mexican Ship Collides With Brooklyn Bridge: &#8216;We Know They&#8217;ve Been Meddling&#8217;</a>
Why It Matters: Market sentiment remains bullish despite $575 million in cryptocurrency liquidations over the past 24 hours. The Crypto Fear and Greed Index registered a &#8220;Greed&#8221; reading of 74, <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">suggesting potential buying pressure ahead</a>.
Cryptocurrency analyst Michaël van de Poppe believes Bitcoin is &#8220;primed for a new ATH [all-time high],&#8221; noting that &#8220;altcoins are outperforming Bitcoin on every move upwards.&#8221; Bitcoin&#8217;s previous record high of $109,114.88 was set on January 20.
Robert Kiyosaki, author of &#8220;Rich Dad Poor Dad,&#8221; recently predicted Bitcoin could reach $250,000 this year, urging followers to &#8220;buy more&#8221; and &#8220;do not sell,&#8221; citing <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45485038/robert-kiyosaki-predicts-bitcoin-to-reach-250000-buy-more-do-not-sell">what he describes as the imminent collapse</a> of the &#8220;Marxist Central Bank system.&#8221;
The cryptocurrency surge contrasts with traditional markets, as U.S. stock futures declined Sunday following Moody&#8217;s downgrade of the <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">U.S. long-term credit rating</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Yalcin Sonat on Shutterstock.com

Tom Lee Says 'Bitcoin Is the Way' After Strike CEO Predicts It's About To 'Go Nuclear'

Treasury Secretary Scott Bessent has issued a fresh warning to the U.S.&#8217;s biggest trading partners, global markets, and economies on trade and tariffs.
What Happened: On Sunday, Bessent warned that U.S. tariffs could soon snap back to their &#8220;reciprocal&#8221; levels seen during &#8220;Liberation Day&#8221; if countries fail to strike trade agreements within the current 90-day window, while speaking at CNN&#8217;s State of the Union with Jake Tapper. 
&#8220;President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level,&#8221; Bessent said, referring to America&#8217;s 18 most important trading partners, which the administration is currently focused on.
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45486452/jim-cramer-recalls-2011s-6-7-market-decline-after-us-debt-downgrade-says-it-ultimately-meant-nothing-dan-niles-sees-limited-downside-amid-tariff-rollbacks-fomo">Jim Cramer Recalls 2011&#8217;s 6.7% Market Decline After US Debt Downgrade, Says It &#8216;Ultimately Meant Nothing:&#8217; Dan Niles Sees Limited Downside Amid Tariff Rollbacks, FOMO</a>
For smaller trading partners, Bessent said the administration may pursue regional agreements. &#8220;We will do a lot of regional deals,&#8221; he said. &#8220;This is the rate for Central America, this is the rate for this part of Africa.&#8221;
When asked about the impact of unpredictable tariff policy on American businesses, Bessent described the White House strategy as one of &#8220;strategic uncertainty,&#8221; adding that &#8220;If we were to give too much certainty to the other countries, then they would play us in the negotiations.&#8221;
Bessent also addressed criticism from companies like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), which warned of rising consumer prices. &#8220;Walmart will be <a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">absorbing some of the tariffs</a>,&#8221; he said, adding that &#8220;some may get passed on to consumers.&#8221;
Why It Matters: This comes amid tariffs pushing Walmart and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) toy suppliers to the <a href="https://benzinga.com/markets/25/05/45342977/trumps-tariffs-reportedly-push-walmart-and-target-toy-suppliers-to-the-brink-of-closure-if-nothing-changes-well-be-crippled">brink of closure</a> in recent weeks.
On Saturday, President Donald Trump <a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">posted on Truth Social</a>, asking Walmart to &#8220;eat the tariffs,&#8221; in response to the company&#8217;s warnings of tariff-related price hikes.
Trump also said last week that tariff revenues could <a href="https://benzinga.com/25/05/45447473/trump-says-tariff-money-could-replace-the-income-tax-april-customs-collections-hit-record-15-4-billion-as-new-duties-take-effect">replace income taxes</a>, with April customs collections hitting $15.4 billion. 
However, several economists and policy experts, such as former Treasury Secretary Larry Summers, have claimed that it was Trump who <a href="https://www.benzinga.com/25/05/45365521/larry-summers-says-trump-blinked-on-china-tariffs-sometimes-its-good-to-blink-as-markets-breathe-a-sigh-of-relief">blinked on the tariffs</a>. 
&#8220;Whenever the commitment to the Liberation Day policies increases, markets go down. Whenever there's signs of backing off, markets go up,&#8221; Summers said, clearly highlighting that tariffs aren&#8217;t good for the markets.
Shutterstock/Maxim Elramsisy
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</ul>
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<iframe loading="lazy" title="One-on-one with Treasury Secretary Scott Bessent" width="500" height="281" src="https://www.youtube.com/embed/S4Xyn6UYFUo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>

Government

Scott Bessent Signals Liberation Day 2.0 Coming If Countries Don't Sign Trade Deals: 'President Trump Has Put Them On Notice'

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly in advanced talks to invest in a quantum computing startup.
What Happened: Nvidia is considering a major investment in PsiQuantum, reported Reuters (<a href="https://www.theinformation.com/articles/nvidia-talks-invest-quantum-startup-psiquantum">via</a> The Information).
Quantum technology could handle computations far beyond the capabilities of today's most advanced AI systems powered by Nvidia chips. PsiQuantum is working with the U.S. and Australian governments to build quantum computers in Chicago and Brisbane.
Unlike other quantum computing startups that depend on exotic materials, PsiQuantum leverages standard semiconductor manufacturing methods, the report said.
In March, Reuters reported that PsiQuantum is securing a minimum of $750 million in funding from investors such as BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), valuing the company at a $6 billion pre-money valuation.
See Also: <a href="https://www.benzinga.com/media/25/05/45460918/jensen-huang-led-nvidia-plans-new-shanghai-research-hub-to-stay-competitive-in-china-as-us-export-curbs-threaten-ai-chip-sales-report">Jensen Huang-Led Nvidia Plans New Shanghai Research Hub To Stay Competitive In China As US Export Curbs Threaten AI Chip Sales: Report</a> Why It&#8217;s Important: This would mark a notable change in direction for Nvidia. The chip giant's CEO, Jensen Huang, previously suggested practical quantum <a href="https://www.benzinga.com/25/03/44433571/jensen-huang-admits-mistake-says-i-was-wrong-about-quantum-computing-at-gtc-apology-fails-to-lift-rigetti-ionq-d-wave-qubt">computing was decades away</a>.
In March, however, Nvidia announced a quantum research lab in Boston in collaboration with Harvard and MIT.&nbsp;
Nvidia is scheduled to release its first-quarter earnings on May 28 after the market closes. According to <a href="https://www.benzinga.com/pro/login">Benzinga Pro</a>, analysts expect the company to post earnings of 89 cents per share on revenue of $43.07 billion.
Price Action: On Friday, Nvidia&#8217;s stock ended 0.4% higher at $135.40. 
Benzinga Edge Stock Rankings gives Nvidia a growth score of 95.02%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares with other leading tech companies</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18233710/Screenshot-2025-05-19-at-9.07.05%E2%80%AFAM.png" alt="" class="wp-image-919141" /></a></figure>
Photo Courtesy: Hepha1st0s On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

NVDA

Nvidia's Quantum Pivot? Jensen Huang-Led Chip Giant Reportedly Mulls Major Stake In PsiQuantum

Moody&#8216;s downgrade of U.S. debt from Aaa to Aa1 marks the country&#8217;s loss of its last <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">remaining top-tier rating</a>, prompting market experts to weigh in on potential impacts.
What Happened: CNBC&#8217;s Jim Cramer recalled on Sunday that &#8220;the market dropped 6.7% after the last downgrade back in 2011 but it, ultimately, meant nothing.&#8221; Despite weeks of market decline following that event, Cramer emphasized investors &#8220;had to stay the course.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I write a draft for the CNBC investing club for our meeting on Wednesday i am mindful that the market dropped 6.7% after the last downgrade back in 2011 but it, ultimately, meant nothing and while the market kept falling for weeks you had to stay the course
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1924128885228085605?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
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Dan Niles, founder of Niles Investment Management, expects less severe market reactions this time. &#8220;Prior debt downgrades have been followed by S&amp;P drops of 8-10%,&#8221; Niles noted, adding that &#8220;today, tariff rollbacks is driving a pickup in the economy &amp; the decline should be less.&#8221;
Moody&#8217;s joins Fitch and Standard &amp; Poor&#8217;s in downgrading U.S. debt below the highest &#8220;triple-A&#8221; level. Fitch downgraded U.S. debt in August 2023, while S&amp;P&#8217;s historic first downgrade occurred in August 2011.
The 2011 S&amp;P downgrade shocked markets, coming after the S&amp;P 500 had doubled from its 2009 Great Financial Crisis lows. The index plunged 6.7% the following trading day, ultimately falling 8% from the downgrade in October 2011.
Fitch downgrade contributed to a 10% S&amp;P 500 decline from July to October 2023, exacerbated by inflation concerns and rising 10-year yields.
Niles believes current conditions differ significantly. &#8220;Unlike in 2023 or 2011, the economic environment is improving around this debt downgrade,&#8221; he wrote, citing reduced China tariffs driving trade resumption.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Prior debt downgrades have been followed by S&amp;P drops of 8-10%. In 2023 inflation concerns drove 10yr yields to the highest in a decade. In 2011, there were fears of a renewed EU debt crisis. Today, tariff rollbacks is driving a pickup in the economy &amp; the decline should be less.…
&mdash; Dan Niles (@DanielTNiles) <a href="https://twitter.com/DanielTNiles/status/1924261985887096946?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/05/45485137/bitcoin-skyrockets-soars-past-105000-mark-triggers-a-250-billion-market-rally">Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally</a>
Why It Matters: Market support could come from retail investors experiencing FOMO (fear of missing out) and professional investors who missed the recent 20% rally from April lows. The AAII survey recently showed bulls surpassing bears for the first time during this rally, according to Niles.
Moody&#8217;s cited persistent fiscal deficits and rising government debt as key factors in its decision. The agency projects U.S. debt-to-GDP ratio will climb from <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">nearly 100% in 2025 to around 130% by 2035</a>.
&#8220;Even in a very positive and low probability economic and financial scenario, debt affordability remains materially weaker than for other Aaa-rated sovereigns,&#8221; Moody&#8217;s stated.
The SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both slipped in Friday&#8217;s after-hours trading following the announcement.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: katz / Shutterstock.com

Equities

Jim Cramer Recalls 2011's 6.7% Market Decline After US Debt Downgrade, Says It 'Ultimately Meant Nothing:' Dan Niles Sees Limited Downside Amid Tariff Rollbacks, FOMO

As criticism mounts over the Donald Trump administration's <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">AI chip deals with Gulf states</a>, David Sacks and Sam Altman are pushing back, calling the partnerships a strategic win over China.
What Happened: Trump announced multibillion-dollar AI partnerships between U.S. companies and Gulf nations, including Saudi Arabia and the UAE.
The deals involve major players like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
Despite <a href="https://www.benzinga.com/25/05/45459318/chuck-schumer-blasts-trump-for-backing-ai-chip-sales-to-saudi-arabia-uae-warns-deal-risks-us-tech-secrets-falling-into-chinas-hands">concerns from lawmakers</a> about potential Chinese access to U.S. AI chips via Gulf allies, Sacks, a tech investor and White House AI advisor, defended the initiative in a post on X, formerly Twitter.
"I'm genuinely perplexed how any self-proclaimed ‘China Hawk' can claim that President Trump's AI deals with UAE and Saudi Arabia aren't hugely beneficial for the United States," Sacks wrote.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most&#8217; As China&#8217;s Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
He cited semiconductor analyst Dylan Patel that the partnerships "will noticeably shift the balance of power" in the U.S.'s favor and asked critics: "Does China wish it had made these deals? Yes of course it does. But President Trump got there first and beat them to the punch."
Altman shared Sacks&#8217; post on X and echoed his view, stating, "This was an extremely smart thing for you all to do and I'm sorry naive people are giving you grief."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">this was an extremely smart thing for you all to do and i'm sorry naive people are giving you grief. <a href="https://t.co/iTkQj9c9QW">https://t.co/iTkQj9c9QW</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1923428713095479437?ref_src=twsrc%5Etfw">May 16, 2025</a></blockquote>
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Why It's Important: The Joe Biden administration had previously implemented <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">rules to restrict AI chip exports</a> to countries like Saudi Arabia and the UAE, citing national security risks.
However, those limits have now been rolled back, with new policies still in development, <a href="https://www.axios.com/2025/05/16/trump-ai-deals-gulf-chips-china-trade-policy">reported</a> Axios.
On Thursday, Senate Minority Leader Chuck Schumer (D-N.Y.) cautioned that Trump's backing of efforts to export sensitive U.S. AI chip technology to allies in the Persian Gulf might ultimately give an advantage to China.
Earlier, Nvidia CEO Jensen Huang warned that limiting access to China's AI market could <a href="https://www.benzinga.com/markets/25/05/45243129/nvidia-ceo-jensen-huang-says-losing-access-to-chinas-potential-50-billion-ai-market-would-be-a-tremendous-loss">harm the company, U.S. jobs</a>, and overall technological progress.
His remarks followed a report revealing that Nvidia has notified key Chinese clients — including Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) — that it is developing a <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">modified version of its AI chip designed</a> to meet U.S. export restrictions.
Nvidia has earned a growth score of 95.02% from Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other top tech firms</a> like AMD, Qualcomm, Alibaba and Tencent.
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Photo Courtesy: twenty1studio On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

BABA

QCOM

TCEHY

David Sacks Hails Trump's AI Strategy In Middle East As Power Move Over China — OpenAI CEO Sam Altman Backs Him: 'Sorry Naive People Are Giving You Grief'

As shares of UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) witness a steep decline, company insiders are stepping up to the plate with a series of insider buys, which analysts and experts say is &#8220;a strong signal.&#8221;
What Happened: On Saturday, popular investment newsletter The Kobeissi Letter shared a post on X highlighting UnitedHealth&#8217;s new CEO, Stephen Hemsley, acquiring a significant stake in the company, worth $25 million, according to filings with the Securities and Exchange Commission.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is interesting: Stephen Hemsley, the new CEO of UnitedHealth, <a href="https://twitter.com/search?q=%24UNH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNH</a>, bought $25 million worth of the stock on Friday. He is the latest of multiple insiders to begin buying shares amid the historic decline. What does it tell you if insiders are buying here? <a href="https://t.co/BqM4Ksabsy">pic.twitter.com/BqM4Ksabsy</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1923782787909197829?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote>
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&#8220;He is the latest of multiple insiders to begin buying shares amid the historic decline,&#8221; the post says, referring to the three directors, Timothy Flynn, Kristen Gil and John Noseworthy, who purchased shares worth $491,786, $1,003,329 and $93,647, respectively, in the company last week. 
This is in addition to UnitedHealth&#8217;s CFO, John Rex, who bought shares worth $5 million, according to SEC filings.
See Also: <a href="https://www.benzinga.com/25/05/45485704/joe-biden-diagnosed-with-advanced-prostate-cancer-trump-wishes-former-president-a-fast-and-successful-recovery">Joe Biden Diagnosed With Advanced Prostate Cancer, Trump Wishes Former President A &#8216;Fast And Successful Recovery&#8217;</a>
Replying to the post, investment manager&nbsp;Mike Shell&nbsp;says that investing personal capital after a sharp decline is a &#8220;strong signal&#8221; that&nbsp;management perceives &#8220;positive asymmetry&#8221; in the stock, suggesting limited downside risks, relative to its recovery potential.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Investing personal capital after a sharp decline is a strong signal they perceive positive asymmetry: limited further downside versus potential recovery gains.
&mdash; Mike Shell (@MikeWShell) <a href="https://twitter.com/MikeWShell/status/1924108362909733063?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
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Why It Matters: UnitedHealth shares have witnessed a steep decline since its disappointing <a href="https://benzinga.com/analyst-ratings/price-target/25/04/44902410/unitedhealth-group-stock-is-getting-crushed-whats-fueling-the-selloff">first quarter results</a> last month, when the company narrowly missed expectations, posting earnings of $7.20 per share versus the consensus estimate of $7.29.
However, it&#8217;s been under scrutiny <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">ever since the assassination</a> of its insurance unit CEO, Brian Thompson, in December 2024, by a disgruntled insurance patient, Luigi Mangione.
The stock once again <a href="https://www.benzinga.com/25/05/45373368/unitedhealth-stock-plunges-names-new-ceo-suspends-2025-guidance">witnessed a pullback</a> last week, following the abrupt departure of its CEO, Andrew Witty. Former CEO Hemsley was reinstated, and the company subsequently withdrew its full-year guidance.
To make matters worse, a Wall Street Journal report claimed that UnitedHealth was under a <a href="https://benzinga.com/general/health-care/25/05/45426769/unitedhealth-stock-plunges-over-8-in-after-hours-trading-as-doj-criminal-probe-adds-to-turmoil-after-ceo-shake-up">federal criminal investigation</a> focusing on its Medicare Advantage business practices. The company refuted these claims, stating that it has not been notified of any supposed criminal investigation by the Department of Justice.
While several experts see this string of insider buying as a sign of a turnaround to come, investor Jeremy Lefebvre posted on X, calling the company &#8220;straight trash.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People want to know my opinion on <a href="https://twitter.com/search?q=%24UNH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNH</a> Straight trash. They are going to go thru years of investigations and it will be a mess. Doesn't mean it can't work for short term trade but it reminds me of <a href="https://twitter.com/search?q=%24BA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BA</a> stock many year ago. Boeing is still a mess even now. Your opinion? <a href="https://t.co/1eMPaXrAJJ">pic.twitter.com/1eMPaXrAJJ</a>
&mdash; Jeremy Lefebvre (@HolySmokas) <a href="https://twitter.com/HolySmokas/status/1923806928951775450?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote>
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Lefebvre says the company will go through years of investigation, and that it will &#8220;be a mess,&#8221; before drawing parallels with Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), which he says &#8220;is still a mess even now.&#8221;
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<tr>
<td class="has-text-align-center" data-align="center">UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td class="has-text-align-center" data-align="center">7 Days</td>
<td class="has-text-align-center" data-align="center">Month</td>
<td class="has-text-align-center" data-align="center">Year-To-Date</td>
<td class="has-text-align-center" data-align="center">12 Months</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center"></td>
<td class="has-text-align-center" data-align="center">-23.41%</td>
<td class="has-text-align-center" data-align="center">-31.37%</td>
<td class="has-text-align-center" data-align="center">-42.14%</td>
<td class="has-text-align-center" data-align="center">-43.56</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">UnitedHealth shares have witnessed steep declines across multiple periods in recent months.</figcaption></figure>
Price Action: Shares of UnitedHealth were up 6.40% on Friday, following news of insider buying, but are down 1.46% pre-market. The stock remains down by 42.14% year-to-date, and 53.8% from its all-time high in November last year.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="139" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1024x139.png" alt="" class="wp-image-919079" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1024x139.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1536x208.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM.png 1592w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
According to Benzinga&#8217;s Edge Stock Rankings, UnitedHealthcare group has an unfavorable price trend in the short, medium, and long term. You can check more comprehensive metrics <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>. 
Shutterstock/The Image Party
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Health Care

Insider Trades

UnitedHealth CEO, Other Insiders Buy Millions In Stock As It Sinks Over 23% In A Week: Move Gets 'Mixed' Reaction

Nearly 23 million Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) were kicked out of circulation Sunday, applying further deflationary pressure on the popular dog-themed meme coin.
What happened: The burn rate exploded 588.22% in the last 24 hours, resulting in a supply squeeze of 22.94 million SHIB tokens, <a href="https://www.shibburn.com/">according</a> to Shibburn, the coin&#8217;s official burn tracker.
At the time of writing, about 410.74 trillion SHIBs have been burned, with the circulating supply at 584.45 trillion.
Coin burning entails sending a cryptocurrency to an unusable wallet address to remove it from circulation. This is done to create scarcity and boost its demand and market value over time.
Interestingly, the burn spike came despite a sharp drop in <a href="https://www.shibariumscan.io/stats">transactions </a>on the ecosystem's Layer-2 blockchain, Shibarium. It's worth pointing out that a portion of transaction fees paid on Shibarium is set aside and burned through an automated burn mechanism.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold</a>
Meanwhile, the Open Interest in SHIB derivatives rose over 2% in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass. That said, the majority of Binance traders with open SHIB positions were positioned short.
On the technical front, the Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a "Buy" signal for SHIB, <a href="https://in.tradingview.com/symbols/SHIBUSD/technicals/">according </a>to TradingView.
Price Action:&nbsp; At the time of writing, SHIB was exchanging hands at $0.00001453, up 1.73% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin has plunged 31%.
Photo Courtesy: Digital Pixel on Shutterstock.com
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$SHIB

Shiba Inu's Burn Rate Fires 588%, Key Indicators Flash 'Buy' — What Up?

Seven years ago, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) poached Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)-owned Google's <a href="https://www.benzinga.com/tech/25/04/45029758/apples-ai-team-undergoes-major-restructuring-amidst-performance-concerns">AI chief</a> John Giannandrea. However, the tech giant is still struggling to catch up in the artificial intelligence race.
What Happened: In 2018, Giannandrea's arrival at Apple was seen as a turning point, with executives hoping to revamp Siri and build a foundation for future AI products.
However, today the positive wave Giannandrea brought has dissipated as Apple continues to fall behind rivals like OpenAI, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), <a href="https://www.bloomberg.com/news/features/2025-05-18/how-apple-intelligence-and-siri-ai-went-so-wrong?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc0NzYwMjI4NiwiZXhwIjoxNzQ4MjA3MDg2LCJhcnRpY2xlSWQiOiJTV0g2Q1NEV1JHRzAwMCIsImJjb25uZWN0SWQiOiJDNEVEQ0FFMUZBMDU0MEJFQTI0QTlGMjExQzFFOTA4MCJ9.YT_s8wxHKtdrfLqfjQbcgxZeRLetExNf84jgg1mpcHM">according</a> to Bloomberg Businessweek.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/25/05/45311978/tim-cooks-apple-tv-cameo-rejected-by-seth-rogen-opts-for-netflixs-ted-sarandos-instead-we-said-no" target="_blank" rel="noreferrer noopener">Tim Cook's Apple TV+ Cameo Rejected By Seth Rogen, Opts For Netflix's Ted Sarandos Instead: ‘We Said No'</a>
Last year at the WWDC, Apple promised a major overhaul of its voice assistant. However, this has been repeatedly delayed with many of the promised features still not functioning properly.
Eddy Cue, a senior Apple executive, reportedly told AI could do what iPhone did to Nokia's business. Last month, during his testimony in a DOJ case against Alphabet, Cue said that iPhones could lose relevance over the next 10 years: "As crazy as that sounds," the report noted.
However, during Apple's earnings call in May, CEO Tim Cook defended the slow progress, saying Apple Intelligence features simply need more time to meet the company's quality standards.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
So, Why Is Apple Still Behind? As per the report, which cited multiple employees and people close to the company, much of the blame has been put on Giannandrea, who, according to the sources, did not fight for adequate funding.
Some also said that the ex-Google executive lacked a sense of urgency. But, Giannandrea reportedly thinks that the blame should be with marketing and advertising teams for hyping unfinished projects.
The acquisition of a lower number of GPUs than its competitors, its long-standing commitment to privacy and the tendency to perfect a feature before launching also hindered the company's progress in the AI race, the report said.
Why It's Important: Apple is now working on iOS 19, which will reported pack significant AI updates, including <a href="https://www.benzinga.com/25/05/45367075/apple-reportedly-leans-on-ai-to-solve-iphone-battery-woes-in-ios-19-update-ahead-of-thinner-iphone-17-launch-this-fall">battery optimization</a> and a virtual health coach.
Apple is also planning to split Apple Intelligence from Siri to escape the voice assistant's reputation, the report added, citing sources. The tech giant also reportedly intends to let Siri access the open web, just like OpenAI's ChatGPT.
Price Action: As per <a href="http://pro.benzinga.com/">Benzinga Pro</a>, Apple shares have declined by 1.58% in after-hours trading.
Benzinga Edge Stock Rankings gave Apple a growth score of 45.98%, reflecting strong market momentum. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other leading stocks</a> such as Alphabet, Microsoft and Amazon.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221819/Screenshot-2025-05-19-at-7.48.11%E2%80%AFAM.png" alt="" class="wp-image-919080" /></a></figure>
Photo Courtesy: Prathmesh T on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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AAPL

MSFT

Why Is Apple Still Behind On AI? Expert Dissects Reasons Behind iPhone Maker Lagging Likes Of Microsoft And Amazon Despite Poaching Google's AI Chief

Leading cryptocurrencies rallied sharply on Sunday as investors awaited new all-time highs for Bitcoin.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.53%</td>
<td>$105,868.99</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>-1.57%</td>
<td>$2,438.87</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>+6.63%</td>
<td>$0.2293</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin tapped $107,000, the highest in nearly four months, in a sharp evening rally that saw trading volumes increase by almost 50%. The apex cryptocurrency was already up 11% in the month
Ethereum, on the other hand, sold off, plunging to an intraday low of $2,344.67 before recovering to the mid-$2,400s by late evening.
Over $575 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish leveraged bets accounting for $350 million.&nbsp;
That said, about $465 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rallied to $108,000.
Bitcoin's Open Interest surged 5.31% in the last 24 hours to levels not seen since December 2024. Meanwhile, bearish bets against Bitcoin spiked, with over 60% of Binance traders with open BTC positions shorting the cryptocurrency.
The "Greed" barometer increased to 74, according to the Crypto Fear and Greed Index, indicating a potential surge in buying pressure in the days to come.
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 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Virtuals Protocol (VIRTUAL)</td>
<td>+19.00%</td>
<td>$2.00</td>
</tr>
<tr>
<td>Pepe (PEPE)</td>
<td>+12.56%</td>
<td>$0.00001372</td>
</tr>
<tr>
<td>dogwifhat (WIF)</td>
<td>+11.65%</td>
<td>$1.04</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.35 trillion, following an increase of 2.36% in the last 24 hours.
Stock futures dipped Sunday night. The Dow Jones Industrial Average Futures fell 287 points, or 0.67%, as of 8:37 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.82%, while Nasdaq 100 Futures lost 1.06%.
The sell-offs come after <a href="https://www.benzinga.com/markets/25/05/45484954/treasury-secretary-bessent-addresses-moodys-downgrade-and-tariff-impact-n-walmart">Moody's downgraded the U.S. long-term credit rating</a>, raising fears about government debt and inflation. Treasury Secretary Scott Bessent dismissed these concerns, calling Moody's a "lagging indicator."&nbsp;&nbsp;
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.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency market commentator Michaël van de Poppe highlighted the potential for altcoins to outperform Bitcoin in the next days.
"M2 Supply goes up and Bitcoin is primed for a new ATH. Altcoins are outperforming Bitcoin on every move upwards. I think we're in for a great 6-8 week period," Van De Poppe stated. Notably, Bitcoin touched an all-time high of $109,114.88 on Jan. 20, 2025. It is currently trading 3.72% below those levels.
<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">All the <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are making higher lows and confirming buying pressure. M2 Supply goes up and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is primed for a new ATH. Altcoins are outperforming Bitcoin on every move upwards. I think we&#39;re in for a great 6-8 week period.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1924200569276920143?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst and trader Ali Martinez commented on Ethereum's outlook, painting $3,000 and $4,000 as the next upside targets if the cryptocurrency holds above $2,200.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">According to the pricing bands, as long as <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> holds above $2,200, the next upside targets could be $3,000 and possibly $4,000 as bullish momentum builds. <a href="https://t.co/Y8goRUPaAj">https://t.co/Y8goRUPaAj</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1924145073006018858?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Yalcin Sonat On Shutterstock.com
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Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As 'Greed' Sentiment Takes Over: Analyst Predicts BTC 'Primed' For A New All-Time High

Sen. Chuck Schumer (D-N.Y.) expressed concerns on Sunday about the impact of President Donald Trump and the Department of Government Efficiency on U.S. Coast Guard operations. The Senate minority leader&#8217;s comments came in the wake of a Mexican naval vessel colliding with the Brooklyn Bridge on Saturday night.
What Happened: The accident resulted in the deaths of two crew members. The ship was on a goodwill tour, according to a <a href="https://www.nytimes.com/2025/05/17/nyregion/brooklyn-bridge-ship-crash-nyc.html">report</a> from The New York Times.
The Cuauhtémoc, carrying 277 individuals, drifted into the iconic bridge, damaging its masts and rigging. Eric Adams, the Mayor of New York City, confirmed the fatalities through a social media post, noting that the ship had lost power prior to the crash.
The deceased were identified as crew members by Mexican President&nbsp;Claudia Sheinbaum. The Mexican Navy reported that 22 individuals sustained injuries, with 11 in critical condition. The ship, initially docked at Pier 17, was intended to head south from New York Harbor but instead veered off course, as reported by&nbsp;the city's Office of Emergency&nbsp;Management.
Verified videos by Reuters depicted the chaotic aftermath, with individuals hanging from the wreckage and a tugboat nearby. The ship eventually docked at Brooklyn Bridge Park with severely damaged masts. Authorities are investigating potential mechanical failures that may have led to the incident, with the&nbsp;National Transportation Safety Board&nbsp;spearheading the investigation.
Schumer highlighted issues with water traffic control, citing Trump&#8217;s decision to relieve Admiral Linda Fagan from her position as Commandant of the USCG, which remains vacant. He also pointed out that a hiring freeze has hindered the USCG&#8217;s ability to staff the Vehicle Traffic Service, crucial for managing water traffic.
Schumer&#8217;s post on X emphasized the need for action to safeguard national security, infrastructure, and public safety. He stated, &#8220;We need action for our national security, infrastructure protection, and public safety.&#8221;
The Senator said he was &#8220;fighting for answers&#8221; adding that &#8220;We know they've been meddling with U.S. Coast Guard staffing.&#8221;
<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">With the Brooklyn Bridge strike last night: I'm fighting for answers about whether Trump and DOGE have impacted water traffic control. We know they've been meddling with U.S. Coast Guard staffing. Trump relieved Admiral Linda Fagan as Commandant of the USCG, and that position…
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1924192523087384764?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://benzinga.com/news/25/05/45484392/grant-cardone-proposes-no-property-taxes-for-65-and-over-says-it-would-provide-relief-to-social-security-and" target="_blank" rel="noreferrer noopener">Grant Cardone Proposes &#8216;No Property Taxes For 65 And Over&#8217;—Says It Would Provide Relief To Social Security And Protect Seniors&#8217; Homes</a>
Why It Matters: Schumer&#8217;s remarks come amid heightened scrutiny of transportation safety following recent incidents, including a <a href="https://www.benzinga.com/25/01/43328465/no-survivors-yet-to-plane-crash-near-reagan-national-airport-american-airlines-ceo-heads-to-washington">plane crash</a> near Reagan National Airport in January. 
The following month, a Delta Air Lines plane met with an accident at Toronto&#8217;s Pearson Airport, and Schumer at that time had emphasized the FAA's responsibility in <a href="https://www.benzinga.com/25/02/43771492/chuck-schumer-blasts-trump-faa-layoffs-after-delta-plane-overturns-on-landing-in-toronto-president-fired-safety-specialists">inspecting aviation equipment</a>, regardless of the plane's destination. He had pointed out that Trump had let go of FAA safety specialists.
Elon Musk, who spearheaded the Trump Administration&#8217;s cost-cutting agency DOGE, said he <a href="https://www.benzinga.com/25/05/45381782/elon-musk-vows-to-spend-less-time-in-white-house-doge-office-investors-warn-the-damage-is-done-and-teslas-troubles-are-far-from-over">would cut back on his time</a> spent on government work and refocus on Tesla starting in May, but a recent <a href="https://edition.cnn.com/2025/05/17/politics/musk-doge-future">report</a> from CNN indicates that the agency&#8217;s work is set to continue even as Musk takes a backseat.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a> 
Photo Courtesy: Bumble Dee 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>

Politics

Chuck Schumer Raises Concerns Over Trump And DOGE Impact On US Coast Guard After Mexican Ship Collides With Brooklyn Bridge: 'We Know They've Been Meddling'

<ul class="wp-block-list">
<li>The U.S. is set to lose $12.5 billion in travel revenue this year, according to data from the World Travel &amp; Tourism Council </li>
<li>The findings, which were shared exclusively with Bloomberg, have been attributed to a number of factors including the rising American dollar and President Donald Trump's "America first" attitude</li>
<li>If the predictions hold, revenues will be down 22% compared to 2019</li>
</ul>
The U.S. is on track to lose $12.5 billion in travel revenue this year, according to data from the World Travel &amp; Tourism Council shared with <a href="https://www.bloomberg.com/news/articles/2025-05-13/the-us-travel-economy-is-headed-for-a-12-billion-slump-this-year">Bloomberg</a>.&nbsp;
The estimate represents a 7% decline in visitor spending year over year, and a 22% decline from 2019, when tourism in the U.S. reached its peak. If the projection holds, traveler spending in the U.S. will fall below $169 billion by year end.
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According to the WTTC, the U.S. is the only country out of the 184 surveyed that is projected to lose tourism dollars this year.
"Other countries are really rolling out the welcome mat, and it feels like the US is putting up a ‘we are closed' sign at their doorway," WTTC CEO Julia Simpson told Bloomberg.&nbsp;
The consequences of this shift could be devastating for the economy, Simpson warns. According to data collected by the WTTC and Oxford Economics, direct and indirect tourism represents 9% of the American economy. In total, the sector employs around 20 million people and creates $585 billion in tax dollars each year, which amounts to about 7% of all tax revenues.&nbsp;
"The US travel and tourism sector is the biggest sector globally compared to any other country, worth almost $2.6 trillion," Simpson says. It's a "major mainstay of the U.S. economy."
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Some of the challenges the American tourism industry is facing are years in the making. For example, Simpson says restrictions from COVID-era travel lingered in the U.S. longer than they did in many other countries. Then the rising U.S. dollar started pricing people out, she told Bloomberg. These things kept visitors from places like Japan and Europe, countries who typically have a lot of tourists in the U.S., from making the trip.
Other challenges the industry faces are new and have seemingly sprung up overnight. Simpson says many travelers are now shifting their behaviors as a result of the "America first" rhetoric and policy.&nbsp;
"What we are seeing now is a sentiment shift that's really very sad," Simpson told Bloomberg. "Legislators need not confuse the tourism sector with issues around illegal immigration. A sophisticated system can balance both without turning [the country] into an island that no one wants to visit."
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The WTTC predicts that it will take until 2030 for tourism to bounce back to pre-pandemic levels. "The thing about tourism is it's extremely resilient," Simpson says. "If you push the right buttons, it will bounce back."
But it might be too little, too late. Simpson told Bloomberg that while the U.S. is making it more difficult to visit, every other country is making it easier. "India is gaining, the Middle East is gaining, China is gaining, Europe is doing quite well. It's only Americans that are being left behind and losing out," she said.
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