Ultime notizie per BRC (NYSE:BRCC) Azioni

BRC INC-A

BRC Inc is a veteran-controlled company that serves premium coffee, content, and merchandise to active military, veterans, and first responders. It is committed to producing great coffee that consumers love, and high-quality merchandise that enables its community to showcase its brand. Its omnichannel distribution has three components: Direct to Consumer channel includes its e-commerce business, through which consumers order products online and products are shipped to them, Its wholesale channel includes products sold to an intermediary such as convenience, grocery, drug, and mass merchandise stores, who in turn sell those products to consumers, and Outpost channel includes revenue from its Company-operated and franchised Black Rifle Coffee retail coffee shop locations.

BRC Inc

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) will release its first-quarter financial results before the <a href="https://www.benzinga.com/quote/jpm/earnings">opening bell on Friday, April 11</a>.
Analysts expect the bank to report quarterly earnings at $4.64 per share, up from $4.44 per share in the year-ago period. JPMorgan projects quarterly revenue of $44.14 billion, compared to $41.93 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
JPMorgan Chase CEO Jamie Dimon warned on Wednesday that escalating U.S.-China trade tensions have significantly increased the risk of a recession after President Donald Trump's tariff policies destabilized financial markets.
JPMorgan shares fell 3.1% to close at $227.11 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/JPM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Ebrahim Poonawala maintained a Buy rating and cut the price target from $285 to $284 on April 2, 2025. This analyst has an accuracy rate of 61%.</li>
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained a Market Perform rating and raised the price target from $257 to $264 on Jan. 16, 2025. This analyst has an accuracy rate of 65%.</li>
<li>Piper Sandler analyst Scott Siefers maintained an Overweight rating and increased the price target from $240 to $275 on Dec. 3, 2024. This analyst has an accuracy rate of 70%.</li>
<li>Oppenheimer analyst Chris Kotowski downgraded the stock from Outperform to Perform on Nov. 20, 2024. This analyst has an accuracy rate of 80%.</li>
<li>Citigroup analyst Keith Horowitz maintained a Neutral rating and raised the price target from $215 to $250 on Nov. 19, 2024. This analyst has an accuracy rate of 74%.</li>
</ul>
Considering buying JPM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="603" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11025030/image-70-1024x603.png" alt="" class="wp-image-867211" style="width:526px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11025030/image-70-1024x603.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11025030/image-70-300x177.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11025030/image-70-768x452.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11025030/image-70.png 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44734419/top-2-real-estate-stocks-that-may-keep-you-up-at-night-this-month">Top 2 Real Estate Stocks That May Keep You Up At Night This Month</a> </li>
</ul>
Photo via Shutterstock

Earnings

News

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

Top Wall Street Forecasters Revamp JPMorgan Price Expectations Ahead Of Q1 Earnings

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has unveiled a new trim for its Cybertruck. The new trim is RWD (rear-wheel drive) and offers a range of over 362 miles on a single charge.
What happened: Tesla has officially revealed its price with the Cybertruck Long Range RWD retailing in the U.S. for $69,990 and $62,490 with the federal EV credit.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cybertruck Long Range now available – $62,490 (incl. Federal Tax Credit) – 362 mi of range (est.) w/ Soft Tonneau – 6&#39; x 4&#39; bed – 7,500 lbs towing capacity <a href="https://t.co/ZP5S5uxHiY">pic.twitter.com/ZP5S5uxHiY</a>
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1910507285354250739?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The trim level is lighter than the AWD (all-wheel drive) trims and has a reduced ground clearance of 243mm compared to the 406mm on the AWD Cybertrucks. The truck also rides on 18" wheels and misses out on features like a rear screen, ventilated seats, and an air suspension. The towing capacity is also reduced to 7500 lbs.
Why it matters: Elon Musk's Tesla recently <a href="https://www.benzinga.com/25/04/44728787/tesla-to-make-saudi-arabia-debut-amid-infrastructure-challenges">debuted in Saudi Arabia</a> at an event in its capital city, Riyadh.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">NEWS: Tesla has officially begun selling its cars in Saudi Arabia today. The country plans to scale from 100 to 5,000 charging stations by 2030. <a href="https://t.co/1h6a1P8eVy">pic.twitter.com/1h6a1P8eVy</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1910173967442125191?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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Saudi Arabia's sovereign wealth fund — PIF — has outlined an ambitious target of producing over 500,000 battery EVs by the year 2030. Tesla's arrival in Saudi Arabia could prove to be a paradigm shift for the local EV market, and could also help Elon Musk's company cement its position in the region.
The truck's release could also be Tesla's way of appealing to a wider audience as it looks to offset the negativity surrounding the brand.
Tesla properties, superchargers, as well as products like the Cybertruck, have been a target of vandalism in the US due to Elon Musk's involvement with the Donald Trump administration and the Department of Government Efficiency. Tesla sales have been down in almost every major country in the EU, except for the UK.
Price action: TSLA stock has experienced a decline in value, currently trading at $252.40, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. While the stock is up 15.89% over 6 months, it has declined by 37.5% year-to-date.
<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 loading="lazy" decoding="async" width="963" height="135" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11023311/Tesla.jpg" alt="" class="wp-image-867183" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11023311/Tesla.jpg 963w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11023311/Tesla-300x42.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11023311/Tesla-768x108.jpg 768w" sizes="(max-width: 963px) 100vw, 963px" /></a></figure>
Tesla holds a momentum rating of 94.23% and a growth rating of 67.68%, according to<a href="https://www.benzinga.com/report/TSLA"> Benzinga's Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock&#8217;s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> sign up for Benzinga Edge.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44729157/michigan-auto-groups-criticize-trump-for-not-halting-auto-tariffs">Michigan Auto Groups Criticize Donald Trump For Not Halting Auto Tariffs, Say Employees And Supply Chain Will Continue To Endure Uncertainty</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Tech

TSLA

Tesla Unveils New Cybertruck Long Range Trim With A 362-Mile Range And Reduced Features

Leading consulting giants Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Deloitte, and Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) are facing significant contract reductions as the U.S. Department of Defense (DoD) announced a sweeping $5.1 billion cut in IT services and other contracts deemed &#8220;wasteful spending.&#8221;
What Happened: Defense Secretary Pete Hegseth issued these cuts on late Thursday as part of a broader effort to streamline the department&#8217;s budget and redirect funds toward warfighting capabilities and improved healthcare for service members and their families.
&#8220;We need this money to spend on better health care for our warfighters and their families, instead of $500 an hour business process consultant,&#8221; Hegseth said. &#8220;That&#8217;s a lot of consulting.&#8221;
According to the memorandum, Secretary Hegseth detailed the specific areas targeted for cuts, emphasizing a shift away from reliance on external consultants for services that can be performed by the DoD&#8217;s workforce.
&#8220;That&#8217;s with a &#8216;B&#8217;; $5.1 billion in DOD contracts for ancillary things like consulting and other nonessential services,&#8221; Hegseth said while recording a video of the announcement from his office.
He specifically highlighted several major contracts being terminated, including:
<ul>
<li>$1.8 billion in consulting contracts awarded by the Defense Health Agency to various private sector firms, including Accenture, Deloitte, and Booz Allen, for services the DoD believes its civilian workforce can handle.</li>
</ul>
<ul>
<li>A $1.4 billion Air Force contract with Accenture for reselling third-party enterprise cloud IT services, which the department intends to fulfill directly using existing procurement resources.</li>
</ul>
<ul>
<li>A $500 million Navy contract for business process consulting for administrative offices.</li>
</ul>
<ul>
<li>A $500 million contract with the Defense Advanced Research Projects Agency (DARPA) for IT help desk services was deemed &#8220;completely duplicative&#8221; of existing services provided by the Defense Information Systems Agency (DISA).</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a>
Why It Matters: The announcement builds upon a <a href="https://www.benzinga.com/markets/equities/25/03/44434720/defense-secretary-slashes-580-million-in-wasteful-spending-targets-overdue-overpriced-projects">previous $580 million in cuts</a> announced on March 20, bringing the total savings identified under the Department of Government Efficiency or DOGE initiatives to &#8220;nearly $6 billion in wasteful spending over the first six weeks,&#8221; Hegseth added.
Beyond IT services, the remaining $0.9 billion to reach the $5.1 billion total comes from the termination of 11 additional contracts across the DoD.
These contracts target consulting services related to diversity, equity, and inclusion (DEI), climate change initiatives, the department&#8217;s response to the COVID-19 pandemic, and other &#8220;non-essential activities.&#8221;
To ensure the continued efficiency of the DoD&#8217;s IT operations, Secretary Hegseth has directed the DoD Chief Information Officer (CIO), in coordination with the DOGE team, to develop a 30-day plan for:
<ul>
<li>In-sourcing IT consulting and management services to the department&#8217;s civilian workforce. </li>
<li>Negotiating the most favorable rates for software and cloud services. </li>
<li>Completing an audit of DoD software licensing by April 18, 2025, to eliminate unnecessary expenditures.</li>
</ul>
Price Action: Shares of Accenture were down 18.23% on a year-to-date basis, whereas it declined by 12.29% over a year. Booz Allen Hamilton, on the other hand, was down 15.07% YTD and 24.54% over a year.
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, ended lower on Thursday. The SPY was down 4.38% to $524.58, while the QQQ declined 4.25% to $446.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44732982/donald-trump-reduced-himself-to-a-paper-tiger-says-peter-schiff-after-comparing-tariff-rollout-and-pause-to-the-hindenburg-of-trial-balloons">Donald Trump &#8216;Reduced Himself To A Paper Tiger,&#8217; Says Peter Schiff After Comparing Tariff Rollout And Pause To The &#8216;Hindenburg Of Trial Balloons&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Government

Politics

Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: 'That's A Lot Of Consulting'

LCID

Lucid To Acquire Nikola Facilities In Coolidge And Phoenix, Boosts Production Capacity And Arizona Workforce

Macro Economic Events

Econ #s

Economics

Germany Consumer Price Index (MoM) For March 0.3% Vs. 0.3% Est.; 0.4% Prior

Germany Consumer Price Index (YoY) For March 2.2% Vs. 2.2% Est.; 2.3% Prior

U.K. Trade Balance Non-EU For February -8.58B Vs. -7.37B (Revised) Prior

U.K. Trade Balance For February -20.81B Vs. -17.30B Est.; -18.22B (Revised) Prior

U.K. Monthly Gross Domestic Product (GDP) 3M/3M Change For February 0.6% Vs. 0.4% Est.; 0.3% (Revised) Prior

U.K. Manufacturing Production (MoM) For February 2.2% Vs. 0.2% Est. -1.0% (Revised) Prior

U.K. Industrial Production (MoM) For February 1.5% Vs. 0.1% Est. -0.5% (Revised) Prior

U.K. Gross Domestic Product (MoM) For February 0.5% Vs. 0.1% Est. -0.0% (Revised) Prior

STLA

Stellantis Ships 1.2M Vehicles In Q1 2025, Down 9% YoY Amid North America Production Slowdown And EU Product Transitions

<figure class="table"> 
<table>
<tbody>
<tr>
<td>Global</td>
<td>
<ul>
<li>Immuron exceeds AUD$5 million in sales in a fiscal year - highest sales in history</li>
<li>March 2025 Quarter AUD$1.3 million up 2% on prior year</li>
<li>March 2025 Year to Date AUD$5.3 million up 46% on prior year &nbsp;</li>
</ul>
</td>
</tr>
<tr>
<td>Australia &nbsp;</td>
<td>
<ul>
<li>March 2025 Quarter AUD$0.8 million down 8% on prior year</li>
<li>March 2025 Year to Date AUD$3.7 million up 34% on prior year &nbsp;</li>
</ul>
</td>
</tr>
<tr>
<td>North America &nbsp;</td>
<td>
<ul>
<li>March 2025 Quarter AUD$0.5 million up 28% on prior year</li>
<li>March 2025 Year to Date AUD$1.6 million up 86% on prior year</li>
</ul>
</td>
</tr>
</tbody>
</table>
</figure>

IMRN

Reported Earlier, Immuron's Travelan Hits Record AUD$5.3M In YTD Sales, Up 46% YoY And 86% In North America

ONCY

Reported Earlier, Oncolytics Biotech Secures Up To $20M In Flexible Funding For Pelareorep Development Through Share Purchase Agreement With Alumni Capital

<ul>
<li>Leasing: The Company has leased approximately 425,000 square feet in a combination of new and renewal leases, with a weighted average lease term of approximately 7.7 years. Included in this total is a new 15.7-year lease for 46,000 square feet at the Company's Parsippany, New Jersey property, bringing the formerly vacant property to more than 60% leased to two tenants. Additionally, the Company entered into a new 10.0-year lease for 160,000 square feet at its currently vacant property in Buffalo, New York with Ingram Micro Inc., who will be relocating from Orion's Amherst, New York property.</li>
<li>Property Sales: The Company has closed on the sale of three vacant properties totaling 287,000 square feet for a gross sales price of $19.1 million, or $66 per square foot. Two additional properties, representing 211,000 square feet, are under contract for $27.3 million, or $129 per square foot, and are scheduled to close later in 2025. The Company continues to actively evaluate and market select properties for sale and expects to secure additional dispositions throughout the remainder of the year.</li>
<li>Liquidity: The Company's liquidity remains strong at approximately $243.9 million represented by cash on hand and the available balance on the revolver as of April 10, 2025.</li>
</ul>

Reported Earlier, Orion Properties Closes $19.1M In Vacant Asset Sales, Keeps Momentum With 425,000 SF Leased And $243.9M Liquidity Buffer

Transactions Overview
In collaboration with Hazel and Virage, MSP Recovery has agreed to initiate a comprehensive corporate restructuring and funding plan designed to reinforce its financial stability, support operational growth, and streamline recovery servicing. Key components of the contemplated restructuring include:
<ul>
<li>Operational Funding to New Servicer Hazel would provide up to $25 million in operational funding through a structured facility to the New Servicer, funded in tranches of up to $1.75 million per month, subject to meeting certain milestones beginning on September 2025, with a maturity date of June 30, 2027. This funding would create a new servicer subsidiary of MSP Recovery (the "New Servicer") on a go forward basis and will support the buildout of a dedicated team to provide technology-enabled recovery services for Medicare Secondary Payer (MSP) claims and similar matters. The New Servicer's directors and management team would be independent from the Company and outside of its control. The team would manage a scalable servicing platform built on MSP Recovery's proprietary data systems.</li>
<li>Operational Funding to Company Hazel has agreed to provide up to $9.75 million of bridge funding to the Company (of which $6.5 million remains available through July 2025) in additional bridge loan funding to the Company under the existing Operational Collection Floor facility. This brings Hazel's total funding under the facility to $25.75 million. Beyond July 2025, the MSP Principals have committed to pledge $25 million of collateral to backstop additional working capital requirements of the Company, in addition to the Company's existing sources of funding such as cash proceeds from the sale of Class A Common Stock to Yorkville pursuant to the Yorkville SEPA and proceeds from claims recoveries, subject to lien repayment on certain claims. In addition, the Company's annual costs, after currently planned cost reductions, are estimated to be reduced by $5.6 million per annum due to New Servicer operations and funded by the Funder (through New Servicer).</li>
<li>Enhanced Servicing Operation The Company plans to establish a servicing operation that will be 100% dedicated to recovering claim rights. MSP Recovery would continue to own 100% of all IP rights that it has developed, which it will license to the New Servicer, and a newly appointed and independent CEO will manage the New Servicer. The Company's objective is to create a servicing operation that is scalable, adequately funded, and capable of serving providers, health plans, and the state and federal government. The New Servicer would have an independent board composed of two world-class experienced executives with experience in legal, data, and healthcare, and an existing board member from MSP Recovery. Lender Hazel would approve the independent board members of the New Servicer. This partnership is expected to enhance the Company's IT/Data know-how and recovery processes.</li>
<li>Debt Restructuring &nbsp;</li>
</ul>
In exchange for a 43% equity interest in the Company (inclusive of shares currently held and those shares acquired through warrant exercises) Virage has agreed to waive all claims and release all liens against the Company relating to the VRM Full Return (approximately $1.2 billion as of March 31, 2025), and the Parties agree that the VRM Full Return will be paid only from: (i) a junior lien against Subrogation Holdings, LLC proceeds, (ii) claims currently owned by Virage, (iii) liens over two tranches of claims currently owned by Hazel (which Hazel shall release as part of the reorganization transaction) and (iv) a non-recourse second lien up to $100 million over 50% of the proceeds from the New Servicer and associated SPVs, to the extent that the VRM Full Return has not been repaid.

MSPR

Reported Earlier, MSP Recovery To Eliminate $1.2B In Liabilities Through Strategic Partnerships And Creation Of Independent Servicer

<ul>
<li>SEALCOIN Demonstrates Satellite-Enabled IoT Transactions Using WISeSat LEO Constellation</li>
<li>Pushing the Frontiers of IoT with Secure, Decentralized Microtransactions Beyond Terrestrial Limits</li>
</ul>

LAES

WKEY

WISeKey's SEALCOIN Demonstrates Secure Off-Grid IoT Transactions Via LEO Satellites And Blockchain

Economist and Obama-Era Treasury Secretary Larry Summers offered a strong rebuttal to claims that China has been "cheating" on trade since joining the World Trade Organization in 2001, drawing praise from entrepreneur Arnaud Bertrand.
What Happened: Summers made his remarks during a discussion with historian Niall Ferguson at the University of Austin. Ferguson posited that China engages in unfair competition — including alleged subsidies, dumping, and predatory pricing — suggesting tariffs might be the solution. Summers, however, dismissed that entire framing, likening China's approach to an institution providing free tuition.
"If one goes all the way to 2001, after it was reported to the World Trade Organisation — China cheated in multiple ways," Ferguson said. "China continues to subsidize its industries in all kinds of ways. It engages in unfair competition. It does things that look to me at least like dumping, and it&#8217;s done this for a quarter of a century nearly… What do you do to stop that? …to check that kind of behavior of gaming the free trade system, if it&#8217;s not tariffs? Or is there nothing you can do?"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is the source video, by the way, dated from yesterday<a href="https://t.co/mJLoWqf7H6">https://t.co/mJLoWqf7H6</a>
&mdash; Arnaud Bertrand (@RnaudBertrand) <a href="https://twitter.com/RnaudBertrand/status/1910297141681193058?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Summers countered by asking how many in the audience paid tuition of $10,000 or more, highlighting that the event's own institution charges no tuition. "So you have no tuition. Why do you have no tuition?" Summers said. "You have no tuition because somehow you have succeeded in mobilizing funds that have enabled you to admit students without paying. So students get the benefit of an education without paying."
See also: <a href="https://in.benzinga.com/markets/equities/25/04/44711364/kevin-oleary-calls-for-hefty-400-us-tariffs-on-china-they-dont-play-by-the-rules">Kevin O&#8217;Leary Isn&#8217;t Satisfied With Trump Raising China Tariffs To 125%: The Shark Says, &#8216;This Isn&#8217;t About Politics, It&#8217;s About Fairness&#8217;</a>
Turning to China's exports, Summers said: "So if China wants to sell us things at really low prices and the transaction is we get solar collectors that help make there be less global climate change or we get batteries that we can put in electric cars and we send them pieces of paper that we print. Think that's a good deal for us or a bad deal for us? Kind of think it's a good deal for us."
He rejected framing China's pricing strategy as "cheating," likening it instead to beneficial innovations that reduce costs for consumers. While acknowledging concerns over "predatory pricing," Summers noted that "in the entire history of economics, there have been almost no examples documented" of a genuine long-term price spike after competition is driven out.
Why It Matters: Bertrand, the former CEO of HouseTrip, seized on Summers' comments in a post on X, formerly Twitter. He applauded the economist for reframing the narrative that China's willingness to sell products at rock-bottom prices is somehow a violation of trade norms. "Who's really being cheated?" Bertrand asked, echoing Summers' contention that the U.S. benefits by obtaining affordable products while paying only with fiat currency.
Wall Street trimmed steep losses in afternoon trading Thursday, following remarks from President&nbsp;Donald Trump, who expressed some optimism about reaching trade&nbsp;<a href="https://www.benzinga.com/topic/china" target="_blank" rel="noreferrer noopener">agreements, particularly with China</a>.
The seismic tariff escalation from&nbsp;Trump&nbsp;triggered a sharp downgrade to China&#8217;s growth forecasts, with Goldman Sachs now projecting a sluggish economic recovery and warning of&nbsp;<a href="https://www.benzinga.com/topic/china" target="_blank" rel="noreferrer noopener">deep labor market consequences</a>.
Image via Shutterstock
Read next: <a href="https://in.benzinga.com/25/04/44744276/amazon-cancels-china-orders-as-tariffs-bite-vendors-to-hike-us-prices">Amazon Cancels Some China Orders After Tariffs, Vendors To Hike US Prices</a>

Global

Obama-Era Treasury Secretary Larry Summers Rejects China 'Cheating' At Trade Narrative: We Get EV Batteries For 'Pieces Of Paper' — It's A Good Deal

European Commission president Ursula von der Leyen has said the EU is preparing a <a href="https://in.benzinga.com/news/global/25/04/44705879/trump-tariffs-push-eu-to-hit-23-billion-in-us-exports-including-orange-juice-poulty-and-steel-from-red-states">slate of retaliatory measures</a> that could include levies on digital advertising revenues from U.S. tech companies like Facebook-parent Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Alphabet Inc.'s (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>) Google.
What Happened: The warning comes as transatlantic trade tensions rise, with President Donald Trump imposing steep new tariffs on European goods.
"We are developing retaliatory measures," von der Leyen <a href="https://www.ft.com/content/fba18bd9-46f9-4736-89f3-976afe3abf7a">told</a> the Financial Times, noting the EU would seek a "completely balanced" agreement with Washington during Trump's <a href="https://in.benzinga.com/25/04/44660475/more-than-50-nations-ready-to-revisit-tariffs-says-white-house-advisor">90-day tariff pause</a>.&nbsp;
If talks fail, she warned, "There's a wide range of countermeasures &#8230; in case the negotiations are not satisfactory."
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44641631/trumps-reciprocal-tariffs-threaten-to-derail-big-techs-billion-dollar-ai-infrastructure-plans-analysts-warn-stargate-was-already-unlikely-to-get-to-that-scale" target="_blank" rel="noreferrer noopener">Trump&#8217;s Reciprocal Tariffs Threaten To Derail Big Tech&#8217;s Billion-Dollar AI Infrastructure Plans, Analyst Singles Out This OpenAI-Linked Project As Likely To Get Hit</a>
These retaliatory measures could include:&nbsp;
Taxes on American tech companies that earn big money in Europe, especially through digital advertising revenue. Von der Leyen said that this would differ from digital sales taxes implemented individually by member states.
"It's a turning point with the United States without any question," von der Leyen said. "We will never go back any more to the status quo."
Pointing to the disruption in stock and bond markets, she stated, "There are no winners in this, only losers."
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.
Why It Matters: Two of the U.S.&#8217;s biggest trade partners, China and the EU—which represent 8% and 13% of its overall trade, respectively—earlier indicated plans to respond with countermeasures.
However, on Thursday, the European Commission decided to pause its planned retaliatory measures against the U.S. tariffs on steel and aluminum. The proposed EU response would have impacted approximately €21 billion worth of American imports, including items like poultry, orange juice, and yachts.
China has already imposed reciprocal <a href="https://www.benzinga.com/news/25/04/44645172/china-retaliates-with-34-tariff-on-all-us-imports-urges-trump-to-immediately-cancel-the-tariffs-calls-for-negotiation">tariffs of 34% on all goods imported</a> from the U.S.
On the other hand, the U.K. government is reportedly <a href="https://www.benzinga.com/25/04/44663080/apple-facebook-and-google-become-bargaining-chips-in-us-trade-war-eu-threatens-retaliation-uk-offers-tax-relief-for-lower-tariffs">seeking to ease tensions</a> with Trump over trade tariffs by offering substantial tax breaks to major American tech companies.
The proposed relief would impact digital giants such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Google, Facebook, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and others currently paying the UK's DST.
Meta boasts an impressive growth score of 74.89%, according to Benzinga Edge Stock Rankings. To see how it stacks up against Apple, Alphabet, Amazon, and other major <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">companies, click here</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>
Photo courtesy: Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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