Ultime notizie per CK Asset Holdings (OTC:CHKGF) Azioni

CK Asset Holdings was the property business arm of the Cheung Kong Group before the spinoff in 2015. It was subsequently renamed CK Asset Holdings from CK Property in 2017. Li Ka-shing and his family remain the largest shareholders of CK Asset over the years, with about a 48% equity stake. The company mainly engages in property development, property investment, and hotel management in Hong Kong and mainland China, while diversifying into social housing, pub operations, and infrastructure management overseas in recent years.

CK Asset Holdings Ltd

Amid rising tensions in the U.S.-China trade war, American consumers are facing the prospect of steep bicycle price hikes. 
What Happened: The cycling industry, already under pressure, is warning of potential bankruptcies and mergers as a result, <a href="https://www.ft.com/content/abf6a4a7-17e9-4983-b301-b3f4ae7d21c4">reported</a> the Financial Times on Friday. The tariffs imposed by President Donald Trump are heavily impacting an industry largely reliant on Chinese manufacturing. Arnold Kamler, chair of family-owned Kent International, one of the largest U.S. bike manufacturers, warned that industry-wide prices could surge by up to 50% if the current tariff levels persist.
Approximately 90% of the 12.5 million bikes sold annually by US brands are imported, with the majority manufactured in China. Other significant producers include Taiwan, Vietnam, and Cambodia. The U.S. president announced new tariffs of 125% on China on Wednesday, having previously threatened heavy tariffs on other major Asian bike manufacturing nations.
See Also:&nbsp;<a href="https://benzinga.com/trading-ideas/movers/25/04/44726597/bitcoin-ethereum-dogecoin-surge-amid-trump-tariff-pause-paul-atkins-sec-confirmation-analyst-anticipates-btcs-continued-march-to-87000" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Surge Amid Trump Tariff Pause, Paul Atkins SEC Confirmation: Analyst Anticipates BTC&#8217;s Continued March To $87,000</a>
The tariffs are hitting the U.S.&#8217;s $6 billion bike industry during a challenging period, with a sales boom during the pandemic now reversed and inflation driving up manufacturing costs. Kamler anticipates a further price increase of at least 25% due to the additional 34% tariff imposed by the US president last week.
Kent International, whose&nbsp;adult bikes range in price&nbsp;from $149.99 to $524.99, has already raised prices by 12% this year, following Trump&#8217;s initial 20% tariff on China. The company expects to sell 1.4 million&nbsp;bikes in the US this&nbsp;year, marking&nbsp;its worst performance in over&nbsp;a decade due to the tariffs.
Why It Matters: The recent <a href="https://in.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">tariff hike on China</a> by President Trump has sparked a broad risk-on rally, catapulting major indices to multi-month highs and sending volatility plunging. However, the impact on the bike industry is severe, with prices set to rise significantly.
Furthermore, the tariff hike has been criticized by some, including Kevin O'Leary, known for his role on Shark Tank, who accused <a href="https://in.benzinga.com/25/04/44726187/kevin-oleary-isnt-satisfied-with-trump-raising-china-tariffs-to-125-the-shark-says-this-isnt-about-politics-its-about-fairness">China of unfair practices</a>, including intellectual property theft from American companies. This ongoing trade war and its impact on various industries, including the bike industry, is a matter of concern for both consumers and manufacturers. Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:&nbsp;<a href="https://benzinga.com/news/25/04/44706575/millions-of-seniors-could-be-shut-out-of-social-security-services-as-phone-applications-get-axed-study" target="_blank" rel="noreferrer noopener">Millions Of Seniors Could Be Shut Out Of Social Security Services As Phone Applications Get Axed: Study</a>

News

Economics

Markets

General

Americans Could Pay 50% More For Bicycles As Trump's Tariffs Hit China-Dependent Industry: Report

Jared Isaacman, nominated by President Donald Trump to be the next NASA chief, shared his ambitious goal of sending American astronauts to Mars during his Senate confirmation hearing yesterday.
What happened: Isaacman stressed on Mars as a top priority, stating, "We will prioritize sending American astronauts to Mars," resonating with President Trump's vision of planting the American flag on the Red Planet.
He emphasized that NASA could pursue both the moon and Mars missions at the same time, saying, "NASA is an extraordinary agency that can do the near-impossible."
See Also: <a href="https://in.benzinga.com/personal-finance/25/03/44438881/id-like-to-die-on-mars-just-not-on-impact-elon-musk-says-nothing-is-more-exciting-than-space-travel-but-you-might-not-come-back-alive">&#8216;I&#8217;d Like to Die on Mars, Just Not on Impact&#8217;- Elon Musk Says Nothing Is More Exciting Than Space Travel, But &#8216;You Might Not Come Back Alive&#8217;</a>
Why it matters: Isaacman's declaration comes as China aims for the moon by 2030, catalysing concerns about space dominance. Senator Ted Cruz warned, "We must stay the course," pushing for the Artemis program to ensure U.S. leadership. Isaacman reassured the Senate, "We can chart a course for Mars&#8230; before the Chinese can get there."
Isaacman acknowledged flaws of the Artemis program but supported its goals. "I believe it's the best and fastest way to get there," he said, but clarified that Mars would remain a key target moving forward.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/04/44629352/rocket-lab-unveils-advanced-space-grade-radios-for-deep-space-missions">Rocket Lab Unveils Advanced Space-Grade Radios For Deep Space Missions</a></li>
</ul>
Image via Shutterstock

SPACE

Trump's NASA Nominee Jared Isaacman Tells Senate 'We Will Prioritize Sending American Astronauts to Mars'

Revenue for the first quarter of 2025 was NT$5,532.3 million or US$166.7 million, representing an increase of 2.5% from the fourth quarter of 2024, and an increase of 2.1% from the first quarter of 2024. The Company noted its increased revenue reflects continued improvements in certain end markets and customer inventory levels, along with a positive but lesser impact from a limited uptick in its turns business. Separately, the Company continues to closely monitor the rapidly evolving tariff situation and plans to adjust accordingly to best support our customers based on their exposure to the U.S. market and if the tariffs result in a decrease of demand.

Earnings

Tech

IMOS

ChipMOS Technologies Reported Preliminary Q1 2025 Sales Of NT$5,532.3M Or $166.7M, Up 2.5% Sequentially And 2.1% YoY, March Sales Of NT$2,031.6M Or $61.2M, Up 15.7% Sequentially And 5.1% YoY

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may have become increasingly correlated with stocks amid escalating trade war concerns, but an analyst predicted that a deteriorating economic environment will eventually decouple the apex cryptocurrency from the risk-on sector.
What Happened:&nbsp;Michael Terpin, CEO of&nbsp;Transform Ventures&nbsp;and author of the book &#8220;Bitcoin Supercycle,&#8221; told Benzinga that the ongoing <a href="https://in.benzinga.com/25/04/44661530/singapores-leaders-express-concern-over-us-tariffs-markets-take-a-hit">tariff wars</a> could trigger a recession, disrupting supply chains, causing job losses, and relocating workers.
Notably, the odds that the U.S. would plunge into recession in 2025 were <a href="https://polymarket.com/event/us-recession-in-2025">50%</a> on the cryptocurrency-based prediction platform Polymarket. It was 66% before Trump announced a <a href="https://www.benzinga.com/markets/equities/25/04/44726524/us-futures-edge-higher-nikkei-surges-8-as-trumps-90-day-tariff-pause-triggers-historic-wall-street-rally-gold-gains-slightly">90-day pause in tariffs</a> on Wednesday.
&#8220;But it will inevitably also bring lower interest rates and massive money printing, which should help even further decouple Bitcoin from the stock market,&#8221; Terpin prophesied.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44721390/bitcoin-ethereum-xrp-dogecoin-explode-higher-as-trump-hits-pause-on-reciprocal-tariffs" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Explode Higher As Trump Hits Pause On Reciprocal Tariffs</a>
Conversely, Chuck Zhang, CFO of decentralized infrastructure provider PolyFlow,&nbsp;said that many people are treating Bitcoin as&nbsp;another risk asset rather than a &#8220;digital&nbsp;gold.&#8221;
Notably, Bitcoin&#8217;s correlation with the S&amp;P 500 has risen from 0.45 at the beginning of the year to 0.67 as of this writing, <a href="https://www.theblock.co/data/crypto-markets/prices/btc-pearson-correlation-30d">according</a> to The Block.
&#8220;That said, I&#8217;m hoping that this time around, we&#8217;ll have more precise data to see exactly how people in the market are treating BTC in terms of its ability to hedge,&#8221; Zhang added.
Why It Matters: Several commentators have supported the idea that Bitcoin will emerge stronger from the tariff chaos and act as a potent inflation hedge.
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, said that Trump&#8217;s aggressive push for tariffs and comments from top economic officials indicating a deliberate move toward a weaker dollar <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44716576/trump-tariff-winners-bitcoin-and-gold-bitwises-matt-hougan-says">could have &#8220;big implications&#8221; for Bitcoin.</a>
Previously, BitMEX co-founder Arthur Hayes said that economic policies like quantitative easing <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44679289/arthur-hayes-predicts-70-bitcoin-dominance-and-potential-chinese-capital-flight-it-worked-in-2013-2015-and-can-work-in-2025">could devalue the dollar</a>, leading investors to seek a hedge in Bitcoin.
 Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $81,753.28, up 5.46% 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 cryptocurrency was down 13.31%.
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Photo: Bukhta Yurii/Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin Could Break Free From Stocks In Case Of A Tariff-Fueled Recession, Says Analyst: 'Lower Interest Rates And Massive Money Printing'

<ul>
<li>Initiated Phase 1/2 study expansion for IDE397, IDEAYA's MAT2A inhibitor, in combination with Trodelvy&#xAE;, Gilead's Trop-2 directed ADC, in MTAP-deletion urothelial cancer based on preliminary safety and clinical efficacy data</li>
<li>MTAP-deletion prevalence in urothelial cancer is estimated to be approximately 26%</li>
</ul>

Biotech

Health Care

IDYA

Ideaya Biosciences Initiated Phase 1/2 Expansion In The Clinical Trial Evaluating IDE397 In Combination With Gilead's Trodelvy In Methylthioadenosine Phosphorylase-deletion Urothelial Cancer Based On Preliminary Safety And Clinical Efficacy Data

"Consistent with our commitment to taking action to enhance stockholder value, Keros' Board determined to undertake a review of all strategic alternatives available to the Company," said Jean-Jacques Bienaimé, Lead Independent Director. "During the pendency of the strategic review process, we remain focused on the execution of our strategy."

KROS

Keros Therapeutics Initiates Formal Review Of Strategic Alternatives To Maximize Stockholder Value

In a bid to bolster the coder-to-manager ratio,&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly contemplating another wave of job cuts, primarily targeting middle managers and non-coders.
What Happened: The Satya Nadella-led company is looking to expand the &#8220;span of control,&#8221; or the number of subordinates under each manager. The exact figure of potential job cuts is yet to be determined, but it could have a substantial impact on certain teams, <a href="https://www.businessinsider.com/microsoft-mulls-more-job-cuts-managers-non-coders-2025-4">reported</a> Business Insider 
Internal discussions at Microsoft center around lowering the &#8220;PM ratio,&#8221; a measure of product or program managers to engineers. This concept, known as the &#8220;builder ratio,&#8221; was introduced by Microsoft&#8217;s security chief, Charlie Bell, during his tenure at Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). It gauges the ratio of software engineers to &#8220;non-builders&#8221; such as project and program managers.
For example, Bell&#8217;s security division currently works with roughly 5½ engineers for each PM, aiming for a 10-to-1 ratio. The proposed cuts would require managers to adhere to a specific budget and team-based ratio.
Microsoft uses a &#8220;ManageRewards slider&#8221; to evaluate employees on a scale from 0 to 200. These ratings determine the amount of stock awards and cash bonuses an employee receives.
Microsoft did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44728494/bitcoin-draws-ire-from-buffett-and-dimon-but-blockchain-technology-sees-a-softer-stance-from-both" target="_blank" rel="noreferrer noopener">Warren Buffett Called Bitcoin A &#8216;Delusion&#8217; And Jamie Dimon Isn&#8217;t A Fan Either, But They Don&#8217;t Mind The Technology That Lies Beneath &#8211; Benzinga</a>
Why It Matters: This move follows&nbsp;<a href="https://www.benzinga.com/media/25/01/42890164/microsoft-plans-to-slash-jobs-again-when-people-are-not-performing-we-take-the-appropriate-action">earlier job cuts</a>&nbsp;this year when Microsoft targeted employees not meeting performance expectations. Earlier this year,&nbsp;Microsoft&nbsp;let go of around 2,000 employees deemed as underperformers. The impending cuts could also target low performers, potentially including those who scored an &#8220;Impact 80&#8221; or below&nbsp;in performance reviews for two&nbsp;straight years.
Recently, the tech giant also&nbsp;<a href="https://www.benzinga.com/25/04/44677497/microsoft-fires-employee-protestors-who-disrupted-50th-anniversary-event-you-have-shown-no-remorse-for-the-effect-that-your-actions-have">dismissed two employees</a>&nbsp;who disrupted its 50th-anniversary event in protest of the company&#8217;s contracts with Israel. 
In the tech sector, companies are reducing middle management roles to improve efficiency. Amazon is aiming to have more individual contributors compared to managers, and Google (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>) has cut 10% of its vice president and manager positions as part of a similar effort.
The proposed job cuts reflect Microsoft&#8217;s ongoing efforts to streamline operations and enhance productivity by focusing on a higher coder-to-manager ratio.
After President Donald Trump announced a 90-day pause on tariffs, Microsoft stock climbed over 10% on Wednesday to close at $390.49, as per <a href="https://www.benzinga.com/pro/">BenzingaPro</a>. However, it has lost nearly 8% over the past year. 
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/tech/25/04/44726879/vietnam-a-hub-for-us-tech-giants-like-apple-and-nvidia-wants-to-talk-trade-after-trump-pauses-46-tariff" target="_blank" rel="noreferrer noopener">Vietnam, A Hub For US Tech Giants Like Apple And Nvidia, Wants To Talk Trade After Trump Pauses 46% Tariff</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

GOOG

GOOGL

MSFT

MSFT Stock Had A Rough Ride Past Year And The Satya Nadella-Led Company Is Now Reportedly Mulling More Job Cuts — This Time Focused On Managers And Non-Coders

VietJet Air has secured a $300 million financial agreement with AV AirFinance, strengthening its fleet expansion plans while potentially providing Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) with additional business as the aircraft manufacturer works to <a href="https://in.benzinga.com/25/04/44580705/boeing-charting-a-quiet-comeback-aircraft-maker-bags-five-major-contracts-in-last-10-days-heres-what-its-chart-shows">recover from recent challenges</a>.
What Happened: The deal, signed in Washington, D.C. on Wednesday in the presence of Vietnam&#8217;s Deputy Prime Minister Ho Duc Phoc, comes as Boeing actively rebuilds its order pipeline following a difficult period marked by safety concerns, production halts, and delivery shortfalls.
On Friday, Reuters reported that the airline was also considering buying 20 wide-body Boeing 787 aircraft.
VietJet will begin taking delivery of its first Boeing 737 MAX aircraft this year from a landmark 200-plane order valued at over $24 billion, initially announced in February 2019. The Vietnamese carrier is currently in discussions to expand this historic order further, representing a potential bright spot for Boeing amid its recovery efforts.
&#8220;We are delighted to be a long-term strategic partner of Vietjet,&#8221; said Stephen Murphy, CEO of AV AirFinance. &#8220;This new commitment reflects our strong relationship and willingness to support Vietjet&#8217;s resurgent growth in the Asia-Pacific region via new generation aircraft.&#8221;
Boeing did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/25/04/44728207/trump-says-this-is-a-great-time-to-buy-but-portfolio-managers-give-a-reality-check-permanent-damage-has-been-done" target="_blank" rel="noreferrer noopener">Trump Says ‘This Is A Great Time To Buy,' But Portfolio Managers Give A Reality Check: ‘Permanent Damage Has Been Done'</a>
Why It Matters: Boeing has recently shown signs of momentum, securing five major contracts in late March from global customers including Malaysia Aviation Group, Japan Airlines, Korean Air, the U.S. Army, and BOC Aviation. These deals have bolstered Boeing&#8217;s order book.
For VietJet, the AV AirFinance agreement is part of broader aircraft financing arrangements totaling over $4 billion with U.S. financial institutions. 
The airline has established partnerships with major American corporations, including General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), Raytheon Technologies Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) Pratt &amp; Whitney division, and Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), with total U.S. trade commitments reaching approximately $64 billion.
VietJet currently operates over 115 aircraft with more than 400 additional planes on order as it pursues global expansion.
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Boeing Gets A Boost As VietJet Secures $300 Million Financing, Considers 787 Purchase And Expands $24 Billion MAX Order: Report

Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has reportedly pulled back on importing a wide range of consumer goods from Asia, leaving vendors stuck with unsold inventory and mounting costs.
What Happened: Amazon has abruptly canceled purchase orders for products made in China, Vietnam, and other Asian countries, <a href="https://www.bloomberg.com/news/articles/2025-04-09/amazon-cancels-some-inventory-orders-from-china-after-tariffs?srnd=phx-technology">reported</a> Bloomberg, citing a document reviewed by the publication and people familiar with the matter.
Affected items include beach chairs, scooters, air conditioners, and more.
One vendor, who has sold beach chairs to Amazon for over a decade, said the company canceled a $500,000 wholesale order just days after President Donald Trump announced plans to expand tariffs on more than 180 countries and territories.
See Also: <a href="https://www.benzinga.com/25/04/44726333/how-warren-buffetts-caution-cost-anthony-scaramucci-millions-in-jeff-bezoss-amazon-stock-and-why-he-sees-todays-ai-hype-as-history-repeating">Anthony Scaramucci Says 26 Years Ago Warren Buffett&#8217;s Amazon Caution Cost Him Millions: Former Trump Official Sees Today&#8217;s AI Hype As History Repeating</a>
The cancellation email, which did not mention tariffs, claimed the orders were placed "in error" and warned against shipping. By then, however, the goods had already been manufactured.
Amazon noted in its annual report that trade tensions remain a risk to its business. "China-based suppliers provide significant portions of our components and finished goods," the company said in February.
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: On Wednesday, President Trump announced via Truth Social that there will be a <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains">90-day suspension of tariffs</a>. The pause takes effect immediately for countries that have not imposed retaliatory measures.
However, China will continue to face a significantly higher tariff rate of 125%, which Trump attributed to the nation's disrespect toward global trade practices.
According to Trump, over 75 countries have contacted U.S. officials to start negotiations in light of the new tariff policy. Despite the temporary pause, a baseline tariff of 10% will remain in place for all nations.
On the same day, BofA Securities analyst Justin Post reaffirmed his Buy rating on Amazon but <a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44718635/amazon-faces-tariff-turbulence-but-analyst-sees-favorable-trends">reduced the stock&#8217;s price target</a> from $257 to $225.
Price Action: Year-to-date, Amazon (AMZN) shares have declined by 13.22%. However, over the last 12 months, the stock has gained 2.77%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Benzinga Edge Stock Rankings give AMZN an impressive growth score of 94.20%. Curious how it stacks up against other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see the full comparison</a>.
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</ul>
Photo courtesy: Shutterstock

Media

Amazon Halts Orders Worth Over $500,000 From China, Vietnam And Other Asian Countries Following Trump's Tariff Plans: Report

U.S. stock futures were lower on Thursday after staging a stellar recovery on Wednesday after a tariff pause. Futures of major benchmark indices were down in premarket.
President Donald Trump attributed the tariff pause to negotiation efforts by roughly 75 non-retaliating nations in a Truth Social post.
Amid investor anxiety regarding trade barrier impacts on the economy, the investors will keep an eye on the upcoming Consumer Price Index data. Federal Reserve Chair Jerome Powell emphasized last week that there is &#8220;no rush&#8221; to lower rates.
Economists&#8217; <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44716504/sink-or-swim-why-this-weeks-inflation-report-is-crucial-for-markets">median forecast anticipates</a> a 2.6% annual increase in the overall CPI for March 2025, a moderation from February&#8217;s 2.8% and the smallest inflation figure since October 2024. Monthly price growth is projected to be a mere 0.1%. 
The core CPI, excluding volatile food and energy prices, is expected to ease slightly to a 3.0% year-over-year rate, compared to February&#8217;s 3.1%. However, the monthly core CPI is predicted to rise to 0.3%, an increase from the previous month&#8217;s 0.2% pace.
The 10-year Treasury bond yielded 4.29% and the two-year bond was at 3.85%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 79.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-1.73%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-2.23%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-2.55%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.92%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Thursday. The SPY was down 3.04% to $531.92, while the QQQ declined 2.53% to $454.20, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Fueled by President Trump&#8217;s unexpected 90-day tariff pause for non-retaliating nations, U.S. stocks soared on Wednesday, with consumer discretionary, information technology, and communication services sectors leading the charge.
The S&amp;P 500 recorded its largest single-day gain since 2008. Notable individual movers included Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) up over 15%, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surging around 19%, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leaping more than 22%, although a subsequent Truth Social post from Trump threatened a 125% tariff hike on Chinese goods.
Additionally, U.S. mortgage application volumes saw a significant 20% weekly increase in early April.
The Dow Jones index surged 2,963 points or 7.87% to 40,608.45, whereas the S&amp;P 500 index skyrocketed 9.52% to 5,456.90. Nasdaq Composite jumped to end 12.16% higher at 17,124.97, and the small-cap gauge, Russell 2000, leaped 8.66% to 1,913.16.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>12.16%</td>
<td>17,124.97</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>9.52%</td>
<td>5,456.90</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>7.87%</td>
<td>40,608.45</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>8.66%</td>
<td>1,913.16</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Charlie Bilello from Creative Planning said in an X post that the S&amp;P 500 logged its third-biggest one-day gain since 1950 on Wednesday.
After logging the biggest one-day gains in the past, the &#8220;Stocks moved substantially higher over the next 1, 3, 5 years every time,&#8221; he added.
<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">The S&amp;P 500 was up 9.5% today, the 3rd biggest 1-day gain since 1950. What has happened in the past following the biggest 1-day gains? Stocks moved substantially higher over the next 1, 3, 5 years every time.<a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/jmUhOp6KOu">pic.twitter.com/jmUhOp6KOu</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1910072767388451291?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
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</figure>
Ryan Detrick from Carson Research cited historical data and concluded that after the S&amp;P 500 index gains over 5% in one day, the returns on the next day and in the next week are &#8220;fairly weak.&#8221;
On average, after such a gain, the S&amp;P 500 index falls by 0.7% the next day and by 1.7% in the next five days. However, the yearly gains after such a day are usually 26.9%.
<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">Wow, this is interesting. 23 times the S&amp;P has gained at least 5% in one day. The next day and a week out = fairly weak returns. But a year later? Up 26.9% on avg and higher more than 91% of the time. Don&#39;t shoot the messenger here. <a href="https://t.co/aHMuRqIwmK">pic.twitter.com/aHMuRqIwmK</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1910169404366635319?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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</figure>
Detrick also highlighted that 93.96% of all the stocks on the NYSE advanced on Wednesday, which was the most since May 10, 2010. &#8220;Yeah, that might classify as a buying thrust,&#8221; he said.
<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">93.96% of all the stocks on the NYSE advanced today. That is the most since 94.57% on 5/10/10. In other words, a couple days after the Flash Crash. Yeah, that might classify as a buying thrust.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1910170984860000324?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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</figure>
Bridgewater Associates&#8217; billionaire founder, Ray Dalio, in an X post, praised Trump&#8217;s move to shift from escalating tensions to negotiation, calling it &#8220;a much better way,&#8221; and then pressed the President to finalize a trade agreement with China and reduce the fiscal deficit to 3% of GDP.
Dalio proposed a China deal featuring &#8220;appreciating the RMB against the dollar,&#8221; achievable through &#8220;Chinese selling dollar assets while also easing their fiscal and monetary policies to stimulate their demand.&#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">This is a great time for all involved to reconsider their approaches!  There are better and worse ways of handling our problems with unsustainable debt and imbalances, and President Trump&#39;s decision to step back from a worse way and negotiate how to deal with these imbalances is…
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1910166431053815819?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul>
<li>The initial jobless claims data for the week ended April 5 and the headline and core consumer price index data for March will be announced by 8:30 a.m. ET.</li>
</ul>
<ul>
<li>Fed Governor Michelle Bowman will testify to the Senate, while Kansas City Fed President Jeff Schmid will speak at 10:00 a.m. ET.</li>
</ul>
<ul>
<li>Also, Philadelphia Fed President Patrick Harker and Chicago Fed President Austan Goolsbee will both speak at noon.</li>
</ul>
<ul>
<li>March&#8217;s monthly U.S. federal budget data will be out by 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Carmax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) fell 2.57% in premarket on Thursday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 65 cents per share on revenue of $5.96 billion.</li>
</ul>
<ul>
<li>Lovesac Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) was 0.19% lower as Wall Street expects it to report earnings of $1.87 per share on revenue of $233.95 million before the opening bell.</li>
</ul>
<ul>
<li>Northern Technologies International Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTIC#NASDAQ">NTIC</a>) jumped 12.83% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 6 cents per share on revenue of $20.20 million.</li>
</ul>
<ul>
<li>Amtech Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASYS#NASDAQ">ASYS</a>) dropped 7.98% as it cut its revenue forecast for the second quarter from $21 million-$23 million to $15 million-$16 million.</li>
</ul>
<ul>
<li>Richardson Electronics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELL#NASDAQ">RELL</a>) advanced 3.98% after posting better-than-expected earnings for its third quarter, while sales missed estimates.</li>
</ul>
<ul>
<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) tumbled 3.75% after the Corona beer maker forecasted its annual profit below estimates due to the tariff hit.</li>
</ul>
<ul>
<li>Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) slid 2.59% after flagging higher prices for oil and gas production in the first quarter.</li>
</ul>
<ul>
<li>ReShape Lifesciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) surges 76.65% after entering an exclusive U.S. distribution agreement with Motion Informatics to import and distribute neuromuscular rehabilitation devices.</li>
</ul>
<ul>
<li>NextPlat Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPL#NASDAQ">NXPL</a>) climbed 20.24% after its subsidiary, Global Telesat Communications, secured a deal from a central UK Government department to provide Iridium Push-To-Talk devices and recurring airtime services.</li>
</ul>
<ul>
<li>Damon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMN#NASDAQ">DMN</a>) plunged 49.59% as it faces Nasdaq delisting after its stock plummeted 99.5% in a year to $0.01, triggering a delisting notice for trading below $0.10 for ten days straight.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 3.50% to hover around $60.17 per barrel.
Gold Spot US Dollar advanced 0.73% to hover around $3,105.70 per ounce. Its fresh record high stood at $3,168.04 per ounce. The U.S. Dollar Index spot was lower by 0.61% at the 102.2750 level.
Asian markets were mostly higher on Wednesday except for India's S&amp;P BSE Sensex index. China&#8217;s CSI 300, Hong Kong's Hang Seng, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi index advanced. European markets were also higher in early trade.
Read Next:
<ul>
<li><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></li>
</ul>
Photo courtesy: Shutterstock

Equities

Federal Reserve

Pre-Market Outlook

Trading Ideas

AAPL

ASYS

LOVE

NTIC

NVDA

NXPL

RELL

RSLS

TSLA

US Stocks Likely To Open Lower Ahead Of March Inflation Release: Expert Highlights 'Fairly Weak Returns' After 5%+ Gains In S&P 500

Chipotle&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) CEO Scott Boatwright spoke about the company&#8217;s financial stability and growth potential despite the current market uncertainties.
What Happened: Boatwright stated that Chipotle would not hike prices on its menu due to tariffs. The CEO emphasized that the strength of Chipotle&#8217;s balance sheet, low debt, and substantial cash reserves are the key contributors to the company&#8217;s resilience. The company is well-positioned to absorb the full tariff impacts imposed by the Trump administration, which would cost about 60 basis points of margin on the year, indicated Boatwright in a recent <a href="https://fortune.com/2025/04/09/leadership-next-chipotle-ceo-boatwright/">interview</a> with Fortune.
&#8220;I think it's unfair to the consumer to pass those costs off to the consumer, because pricing is permanent,&#8221; stated Boatwright. The CEO also expressed that he is unsure which parts of the tariffs are temporary and which will remain in place permanently.
Addressing concerns about the future of the restaurant industry amid political uncertainties, Boatwright acknowledged a market pullback and cautious consumer behavior. However, he expressed optimism about Chipotle&#8217;s position.
Boatwright also highlighted positive transaction trends following the launch of Chipotle Honey Chicken. He also credited the company&#8217;s AI-powered virtual team member, Ava Cado, for significantly reducing onboarding time and improving staffing efficiency, despite industry headwinds.
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44726187/kevin-oleary-isnt-satisfied-with-trump-raising-china-tariffs-to-125-the-shark-says-this-isnt-about-politics-its-about-fairness" target="_blank" rel="noreferrer noopener">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; &#8211; Benzinga</a>
Why It Matters: Chipotle&#8217;s resilience and growth prospects are underpinned by strategic initiatives undertaken by the company. In February, Chipotle launched a <a href="https://www.benzinga.com/25/02/43859197/chipotle-expands-aims-to-fill-20000-jobs-ahead-of-burrito-season">campaign to hire </a>20,000 new employees ahead of the busy &#8220;Burrito Season,&#8221; which runs from March to May. This move was aimed at increasing staffing across its 3,700+ locations. The company also introduced new employee perks and TV commercials featuring its actual staff members to attract more applicants.
That being said, the CEO acknowledged that the current environment is highly uncertain and there is a &#8220;bit of slowdown&#8221; in the industry. &#8220;We drove comp sales last year at 7.4%, largely driven by a great transaction flow. As we got into the new year, there was a lot of things, or headwinds, I should say, within the industry, specifically,&#8221; stated the CEO. 
Nevertheless, Boatwright is confident about Chipotle&#8217;s brand positioning. The employee-centered initiatives, coupled with the launch of Chipotle honey chicken and the introduction of AI-powered Ava Cado, demonstrate Chipotle&#8217;s commitment to innovation and growth, even in the face of market uncertainties.
On Wednesday, RBC Capital Markets&nbsp;maintained its &#8216;Outperform&#8217; rating on Chipotle stock with a price target of $70. 
Chipotle holds a growth rating of 72.59% and a quality rating of 88.16%, according to&nbsp;<a href="https://www.benzinga.com/quote/CMG" target="_blank" rel="noreferrer noopener">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,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/general/social-media/25/04/44705344/ray-dalio-says-dont-make-the-mistake-of-thinking-whats-happening-now-is-due-to-trump-tariffs" target="_blank" rel="noreferrer noopener">Ray Dalio Says Don&#8217;t Make The Mistake Of Thinking What&#8217;s Happening Now Is Due To Trump Tariffs &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Here's Why Your Bowls And Burritos At Chipotle Won't Cost Higher Due To Tariffs: 'It's Unfair To The Consumer', Says CEO Boatwright

Luxury home furnishings company, RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>), formerly known as Restoration Hardware, led the market rally on Wednesday, up 29%, after President Donald Trump announced that he would be <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains">pausing the tariffs</a> for 90 days across all countries, except China.
What Happened: This comes just days after the stock <a href="https://www.benzinga.com/content/44653331/shares-of-rh-down-nearly-40-where-investors-can-turn-to-now">plunged over 40%</a> following a double whammy of <a href="https://www.benzinga.com/news/earnings/25/04/44616824/rh-q4-earnings-shares-sink-as-revenue-eps-miss-expectations">disappointing fourth-quarter</a> earnings results, and the massive &#8216;Liberation Day&#8217; tariffs affecting most of RH&#8217;s top sourcing and supplier locations.
See More: <a href="https://www.benzinga.com/markets/asia/25/04/44715261/from-bad-to-terrible-treasury-secretary-slams-beijings-retaliatory-tariffs-as-trump-trade-agenda-wipes-trillions">&#8216;From Bad To Terrible&#8217;: Treasury Secretary Slams Beijing&#8217;s Retaliatory Tariffs As Trump Trade Agenda Wipes Trillions</a>
The company missed consensus estimates on revenue and earnings, with CEO Gary Friedman claiming during the call that they were operating in &#8220;the worst housing market in almost 50 years,&#8221; before adding that he also expects a &#8220;higher-risk business environment this year, due to the uncertainty caused by tariffs, market volatility, and inflation risk.&#8221;
Despite the pullback, several analysts <a href="https://benzinga.com/analyst-ratings/analyst-color/25/04/44669626/rh-analyst-bullish-as-company-addresses-3-issues-including-tariff-exposure">reiterated their bullish stance</a> on the stock, such as Cristina Fernández of Telsey Advisory Group, who maintained an &#8216;Outperform&#8217; rating and the price target of $280, claiming that the company &#8220;has the potential to weather tariffs as its higher price points and affluent consumer base give it more pricing power.&#8221;
The bullish consensus, alongside the pausing of the tariffs, led to a rally in the stock, even though it remains down 20% this month, 51% year-to-date, and 73% since its all-time high in 2021.
Why It Matters: According to RH&#8217;s recent 10K filings, just about 23% of its merchandise, valued at $713 million, was sourced from China in 2024. This is down from 40% in 2017, made possible by extensive diversification efforts, in favor of other Asian manufacturing hubs, such as Vietnam, from where it now sources 35% of its products, worth $1.09 billion.
The rest of it comes from a few other Asian countries, such as India and Indonesia, at 14%, followed by 18% from North America and 10% from Europe. This leaves the company significantly less exposed to the tariffs than previously thought.
Price Action: RH was up 28.57% on Wednesday before closing at $192.08 per share, and is down by 1.58% in after-hours trading. 
<figure class="wp-block-image aligncenter size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="141" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM-1024x141.png" alt="" class="wp-image-865433" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM-1024x141.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM-768x106.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM-1536x211.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10043704/Screenshot-2025-04-10-at-2.03.23-PM.png 1598w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
RH&#8217;s scores still don&#8217;t seem all that favorable on Benzinga&#8217;s Edge Rankings, but what about its competitors, Williams Sonoma and Arhaus? Sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge</a> today.
Read More:
<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44728777/pence-calls-trumps-tariff-moves-misstep-cites-potential-economic-harm-to-working-families">Former Vice President Mike Pence Calls Trump&#8217;s Tariff Moves &#8216;Misstep,&#8217; Cites Potential Economic Harm To Working Families</a></li>
</ul>
Photo courtesy: Shutterstock

Government

Trump's 90-Day Tariff Pause Sends RH Stock Surging, Reversing Heavy Losses from Earnings Miss, Trade War Fears

Shares of ReShape Lifesciences Inc. (NASDA: RSLS) rose sharply in today's pre-market trading after the company announced a partnership with Motion Informatics to exclusively import and distribute neuromuscular rehabilitation <a href="https://www.benzinga.com/quote/RSLS">devices in the US</a>.
ReShape Lifesciences shares jumped 82.2% to $0.6232 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) rose 111.7% to $5.02 in pre-market trading. On March 4, Wheeler Real Estate IT posted fourth-quarter FFO of $18.48, down from $182.82 in the year-ago period. The company's sales rose to $27.59 million from $26.21 million.</li>
<li>Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) surged 43.6% to $0.0201 in pre-market trading after dipping 17% on Wednesday.</li>
<li>Riverview Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVSB#NASDAQ">RVSB</a>) gained 33.5% to $8.00 in pre-market. On April 2, Riverview Bancorp declared a quarterly cash dividend of 2 cents per share.</li>
<li>Hydrofarm Holdings Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYFM#NASDAQ">HYFM</a>) rose 34.4% to $2.26 in pre-market trading after gaining 5% on Wednesday.</li>
<li>SUNation Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUNE#NASDAQ">SUNE</a>) rose 29.9% to $0.0256 in pre-market trading. SUNation Energy strengthened its financial position via recently completed financings and debt reduction</li>
<li>Genfit S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNFT#NASDAQ">GNFT</a>) gained 24.7% to $3.31 in pre-market trading after dipping more than 19% on Wednesday.</li>
<li>LakeShore Biopharma Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSB#NASDAQ">LSB</a>) gained 20.7% to $2.08 in pre-market trading.</li>
<li>Emerald Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEX#NYSE">EEX</a>) surged 15.8% to $4.30 in pre-market trading after gaining more than 12% on Wednesday.</li>
<li>Enerflex Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFXT#NYSE">EFXT</a>) jumped 13% to $8.00 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Rithm Property Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPT#NYSE">RPT</a>) fell 55.7% to $1.20 in pre-market trading after gaining 12% on Wednesday.</li>
<li>Venus Concept Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) shares tumbled 47.9% to $4.65 in pre-market trading after the company announced a $1.1 million registered direct offering of common stock priced at-the-market under Nasdaq rules.</li>
<li>Damon Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMN#NASDAQ">DMN</a>) fell 46.5% to $0.0065 in today's pre-market trading.</li>
<li>Twin Vee Powercats Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEE#NASDAQ">VEEE</a>) shares fell 31.7% to $2.80 in pre-market trading. Twin Vee PowerCats recently announced a 1-for-10 reverse stock split.</li>
<li>LifeVantage Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFVN#NASDAQ">LFVN</a>) fell 31.4% to $10.50 in pre-market trading after gaining 10% on Wednesday.</li>
<li>Greenfire Resources Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFR#NYSE">GFR</a>) shares fell 31.1% to $3.50 in pre-market trading.</li>
<li>Upstream Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPB#NASDAQ">UPB</a>) shares dipped 29.6% to $4.60 in pre-market trading after gaining 8% on Wednesday. Upstream Bio, last month, reported worse-than-expected third-quarter sales results.</li>
<li>Antelope Enterprise Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHL#NASDAQ">AEHL</a>) fell 28.1% to $3.20 in pre-market trading after jumping 104% on Wednesday.</li>
<li>Metallus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTUS#NYSE">MTUS</a>) dipped 25.3% to $9.50 in pre-market trading after gaining 11% on Wednesday.</li>
<li>Amtech Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASYS#NASDAQ">ASYS</a>) declined 8% to $3.92 in pre-market trading as the company cut its revenue forecast for the second quarter from $21 million-$23 million to $15 million-$16 million.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44710375/top-2-materials-stocks-that-may-fall-off-a-cliff-this-quarter">Top 2 Materials Stocks That May Fall Off A Cliff This Quarter</a> </li>
</ul>
Photo via Shutterstock

Movers

AEHL

EFXT

GNFT

HYFM

LFVN

MTUS

RVSB

STSS

SUNE

VEEE

VERO

WHLR

Why ReShape Lifesciences Shares Are Trading Higher By Over 82%; Here Are 20 Stocks Moving Premarket

Fincantieri Ingenium has been created to accelerate digital transformation across the cruise, defense, and port infrastructure sectors. It will play a key role in executing the strategy outlined in Fincantieri Group's Industrial Plan. The goal is to enhance the offering of digital services and systems based on recent advances in technologies such as artificial intelligence by optimizing the entire value chain through data utilization and process transformation.
The joint venture will integrate Accenture's extensive experience in digital platforms, AI, connectivity and IoT, cybersecurity, and service design with Fincantieri's deep technological know-how in the naval and defense industries. This powerful combination will enable the development of new technological capabilities and skills, while also attracting and training new talent.
Among the first strategic initiatives of the new company is the development of Navis Sapiens, a digital ecosystem designed for next-generation ships and the upgrade of existing fleets. The project spans three key dimensions: the creation of a portfolio of application services to optimize operational efficiency and lifecycle management for ships and onshore infrastructure; the development of a digital platform enabling these applications and advanced AI-driven functionalities, with a strong focus on cybersecurity; and a marketplace to facilitate the exchange of solutions—including those from third parties—to deliver high value-added services and enable new business models across the maritime ecosystem. The first ship equipped with Navis Sapiens is expected to enter service by the end of 2025.
In synergy with Navis Sapiens, the joint venture also plans to enhance real-time data exchange and connectivity between ships and onshore ecosystems—including ports and shipyards—through a sea-to-shore interoperability solution to increase cross-functional process efficiency. This project will help improve the competitiveness of Italian ports by optimizing performance across the entire maritime and land-based value chain. All initiatives will be promoted with sustainability as a core pillar. The systems will be designed to reduce environmental impact through data-driven energy optimization, supporting shipowners in reducing fuel consumption. The initiatives already underway, as well as those to come, will generate significant value for Fincantieri, the national maritime ecosystem, and the country as a whole, with a positive impact on a global scale.

Large Cap

Fincantieri And Accenture Have Agreed To Establish Fincantieri Ingenium, A New Joint Venture. The Company Will Be Owned 70% By Fincantieri Nextech—A Subsidiary Of The Fincantieri—And 30% By Accenture

President Donald Trump announced a 90-day pause on most tariff hikes on Wednesday following a significant market rally that strategists attribute to bond market pressure <a href="https://www.benzinga.com/markets/equities/25/04/44726524/us-futures-edge-higher-nikkei-surges-8-as-trumps-90-day-tariff-pause-triggers-historic-wall-street-rally-gold-gains-slightly">rather than negotiation success</a>.
What Happened: &#8220;He didn&#8217;t just flinch, he ducked,&#8221; political strategist Jessica Tarlov told Fox News, adding that &#8220;there are trillions still lost&#8221; despite the policy reversal.
Spencer Hakimian, founder of Tolou Capital Management, expressed rare agreement with Fox News coverage of the situation, writing on X: &#8220;I don&#8217;t think I have agreed this much in a single day with Fox News in my entire lifetime.&#8221;
The pause came after U.S. markets experienced what Bear Traps Report founder Lawrence McDonald called a &#8220;historically swift destruction of equity capital,&#8221; with <a href="https://www.benzinga.com/markets/bonds/25/04/44679299/trump-tariffs-triggers-historic-equity-wipeout-outpacing-covid-lehman-crashes-with-no-bond-rally-to-cushion-the-blow-says-lawrence-mcdonald">approximately $9 trillion wiped out in just six weeks</a>, rivaling the $9 trillion COVID crash and surpassing the $8 trillion Lehman Brothers collapse aftermath.
<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">"He said he was watching the bond market. He had to cave. He didn't just flinch, he ducked." &#8211; Fox News I don't think I have agreed this much in a single day with Fox News in my entire lifetime. &#x1f91d;&#x1f3fd;&#x1f91d;&#x1f3fd; <a href="https://t.co/CDhZLHfLYs">pic.twitter.com/CDhZLHfLYs</a>
&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1910175470550761684?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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Treasury Secretary Scott Bessent, not hawkish advisers Howard Lutnick or Peter Navarro, announced the policy shift on Wednesday, framing it as Trump&#8217;s successful negotiation strategy bringing trading partners to the table.
See Also: <a href="https://www.benzinga.com/markets/25/04/44728777/pence-calls-trumps-tariff-moves-misstep-cites-potential-economic-harm-to-working-families">Former Vice President Mike Pence Calls Trump&#8217;s Tariff Moves &#8216;Misstep,&#8217; Cites Potential Economic Harm To Working Families</a>
Why It Matters: Market experts pointed to a significant bond market rout Tuesday night as the breaking point. The yield on the 10-year Treasury bond spiked to 4.29%, while the 30-year yield at 4.74%.
&#8220;The day the bond market won,&#8221; McDonald wrote on X.
<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">The day the bond market won. <a href="https://t.co/ewp0mUHB2k">https://t.co/ewp0mUHB2k</a>
&mdash; Lawrence McDonald (@Convertbond) <a href="https://twitter.com/Convertbond/status/1910027761445483006?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Fox Business Network&#8217;s Charles Gasparino reported that <a href="https://in.benzinga.com/markets/bonds/25/04/44705998/palantir-co-founder-joe-lonsdale-questions-if-china-is-dumping-treasuries-tesla-director-kimbal-musk-says-beijing-playing-fed-chicken-with-trump-ahead-of-65-trillion-refinance-deadline">Japanese investors, not China</a>, were unloading U.S. Treasury bonds &#8220;in huge quantities&#8221; Tuesday night, forcing Trump&#8217;s hand. Unlike previous market downturns, this selloff lacked the traditional &#8220;flight to quality&#8221; bond rally that typically cushions equity losses.
<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">Scoop: Top money managers say it was Japan not China selling last night that upended the bond market and forced Trump's hand into a pause. And yes Trump took the win as so many countries wanted to do deals. Never one thing that causes anything; story developing
&mdash; Charles Gasparino (@CGasparino) <a href="https://twitter.com/CGasparino/status/1910031273717871100?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The U.S. has $36 trillion in bonds in circulation—much held by foreign investors—used to finance government operations, including Social Security and military spending.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allies-as-markets-surge-after-90-day-tariff-pause-it-sure-looks-like-corruption">Adam Schiff And Elizabeth Warren Call For Investigation Into Possible Insider Trading By Trump Allies As Markets Surge After 90-Day Tariff Pause: &#8216;It Sure Looks Like Corruption&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Bonds

Trump 'Didn't Just Flinch, He Ducked' On Tariff Pause, Says Strategist Jessica Tarlov: Argues Bond Market Forced His Hand Amid Trillions In Market Losses

Q1 2025 highlights
<ul>
<li>Gold production of 91,893 ounces; compared to 89,678 oz Au in Q1 20242 and 95,993 oz Au in Q4 20243</li>
<li>Gold equivalent production of 103,459 ounces1; compared to 112,543 Au Eq oz (GEOs) in Q1 20242 and 116,358 GEOs in Q4 20243</li>
<li>The Lindero leach pad expansion project was completed in Q1 and delivered to operations on time and within budget at a total cost of $51.8 million. The expansion provides sufficient capacity for an additional 10 years of production.</li>
<li>Repurchased 916,900 common shares at an average price of $4.53 per share for a total of $4,155,539</li>
</ul>
Fortuna reiterates its 2025 annual production guidance range of 334,000 to 373,000 ounces of gold and 0.9 to 1.0 million ounces of silver or between 380,000 and 422,000 GEOs, including lead and zinc by-products

Commodities

Fortuna Mining Reports Production Results For Q1 Of 2025 From Its Four Operating Mines In West Africa And Latin America

Amid several theories on why President Donald Trump paused the tariffs hours after they went into effect, experts have been pushing the bond market turmoil as the major contributor to the decision.
What Happened: After the 10-year Treasury yields rose 34 bps from below 4.0% last week to nearly 4.34% on Wednesday, experts are pegging Trump&#8217;s reaction to pause the tariffs on the spike in yields.
Ed Yardeni from Yardeni Research said, &#8220;Bond vigilantes hit another homerun.&#8221; A bond vigilante is a bond market investor who protests against monetary or fiscal policies considered inflationary by selling bonds, thus increasing yields.
Yardeni resurfaced his 1983 quote after the yield spike and said, &#8220;Bond investors are the economy&#8217;s bond vigilantes. … So if the fiscal and monetary authorities won't regulate the economy, the bond investors will. The economy will be run by vigilantes in the credit markets."
Meanwhile, economist Craig Shapiro said, &#8220;China, just by threatening to sell USTs, basically blew up the bond market and forced the admin to backtrack.&#8221;
However, Trump, in his Truth Social post, said he decided to pause the tariffs based on the negotiation attempts by 75 countries without any retaliation. But Shapiro added in his tweet, &#8220;He didn&#8217;t admit the bond market had anything to do with this. He said he&#8217;s been thinking about it for days. Whatever. It was a flawed rollout.&#8221;
<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">He didn&#39;t admit the bond market had anything to do with this. He said he&#39;s been thinking about it for days. Whatever. It was a flawed roll out China, just by threatening to sell USTs, basically blew up the bond market and forced the admin to backtrack. I think folks are…
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1910142119538262219?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gary Black, the managing partner, the Future Fund LLC said, &#8220;In the end, Trump's stunning about face on tariffs was driven by chaos in the bond market including soaring 10yr and 30yr treasury yields; the prospect of huge Republican losses in next year's midterm elections; and pressure by Trump's billionaire supporters (Dimon, Ackman) who convinced him his tariff plan could cause a severe recession.&#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">In the end, Trump's stunning about face on tariffs was driven by chaos in the bond market including soaring 10yr and 30yr treasury yields; the prospect of huge Republican losses in next year's midterm elections; and pressure by Trump's billionaire supporters (Dimon, Ackman) who…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1910163509557842166?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Spencer Hakimian, the founder of Tolou Capital Management, a Japanese hedge fund that was 60 times levered to the U.S. 10-year Treasury bond was responsible for the spike in yields, which indirectly influenced the decision for a tariff pause. 
<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">Round of applause to the Japanese hedge fund that was 60x levered 10Y UST's that blew up last night to save the world from the Great Depression. We will not forget your sacrifice brother &#x1fae1;
&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1910078058503283138?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cor">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a>
Why It Matters: President Trump levied reciprocal tariffs on U.S. trading partners last week on Wednesday, which followed a heavy selloff in the market, pushing the Nasdaq into a bear market, whereas the S&amp;P 500 and the Dow Jones were nearing bear territory.
The Trump administration claimed that he was thinking about a tariff pause since Sunday, as Treasury Secretary Scott Bessent told reporter on Wednesday that "He and I had a long talk.&#8221; He added, "This was his strategy all along."
Before announcing the pause in a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114308272725981913">post</a> around 1:18 p.m. ET, Trump posted the same morning that &#8220;THIS IS A GREAT TIME TO BUY!!! DJT&#8221; Trump transferred his entire stake in Truth Social owner, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) to a revocable trust ahead of his inauguration.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, surged on Wednesday. SPY rose by 10.50%, whereas QQQ advanced 12.00%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
After a period of decline, the Nasdaq 100 climbed out of bear market territory, although it remained 13.85% below its prior peak of 22,222.61 points. The S&amp;P 500 was still in a correction, sitting 11.23% lower than its record high of 6,147.43 points, while the Dow Jones was 9.91% down from its 52-week high of 45,073.63 points.
On Thursday, the futures of Dow were down by 0.49%, and the futures of S&amp;P 500 and the Nasdaq 100 index were 0.78% and 1.21% lower, respectively.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44709538/shapiros-treasury-market-dysfunction-warning-hits-home-buying-more-gold-as-fed-put-may-be-on-the-table">Shapiro&#8217;s Treasury &#8216;Market Dysfunction&#8217; Warning Hits Home: &#8216;Buying More Gold&#8217; As Fed Put May Be On The Table</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

Futures

Analyst Ratings

Trump Pauses Tariffs After Yields Surge: 'Bond Vigilantes Hit Another Homerun,' Experts Point To Bond Market Panic For Reversal

<ul>
<li>Although the Company is not updating its financial guidance at this time, embedded in its February 24, 2025 full year guidance was an estimate for its Jack Wolfskin business of approximately Euro 325 million in revenue and Euro 12 million of Adjusted EBITDA.&nbsp;</li>
<li>Given the typical seasonality of the Jack&nbsp;Wolfskin business, this full year estimate is comprised of approximately (a) Euro 115 million in revenue and a loss of Euro 18 million of Adjusted EBITDA for the first half of 2025 and (b) Euro 210 million in revenue and Euro 30 million of Adjusted EBITDA in the second half of 2025.&nbsp;</li>
</ul>

Asset Sales

MODG

Topgolf Callaway Brands Agreed To Sell Its Jack Wolfskin Business To ANTA Sports For $290M In Cash; The Transaction Is Expected To Close In The Late Second Quarter Or Early Third Quarter Of 2025

US President Donald Trump has been on the receiving end of criticism from Michigan auto and business groups as tariffs on <a href="https://www.benzinga.com/markets/equities/25/04/44578839/trumps-25-tariff-on-imported-vehicles-could-shatter-detroits-auto-economy-warns-business-leaders-it-will-hurt-hardworking-americans">automotive imports </a>remain in effect.
What happened: The Trump administration announced a 90-day halt on multiple tariffs imposed on various US trade partners. The tariffs had sent the global stock markets into upheaval, with trillions of dollars being wiped off. The temporary halt has had a positive effect as global stocks surged higher.
<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">BREAKING: Stocks surge after President Trump announces a 90-day pause on tariffs, except for China, which he raises to 125%. <a href="https://t.co/EoxwIA26y2">https://t.co/EoxwIA26y2</a>
&mdash; The Associated Press (@AP) <a href="https://twitter.com/AP/status/1910023819172921806?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the 25% tariffs on automotive imports remain in effect. "Michigan's signature industry and the supply chains and employees that sustain it will continue to endure the uncertainty and disruption of these fluctuating trade policies." The Detroit Regional Chamber said in an official statement.
The organization also criticized the administration's decision to impose tariffs on aluminum and steel, both of which are key components in producing vehicles.
Why It Matters: The automotive industry operates on a complex supply chain infrastructure and is dependent on imports to produce vehicles.
Michigan's Democratic Governor Gretchen Whitmer called on the administration to rethink its tariff strategy. "You can't just pull out the tariff hammer to swing at every problem without a clear, defined end goal," she said in a statement to the media.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Michigan Governor Whitmer on Tariffs" width="500" height="281" src="https://www.youtube.com/embed/4VZZFKqYTbw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
The Trump administration also said that they were open to ‘company-specific' exemptions for larger US companies affected by the tariffs, &#8220;There are some that have been hard — there are some that, by the nature of the company, get hit a little bit harder, and we&#8217;ll take a look at that,&#8221; Trump said, though the president didn't specify if that would include car manufacturers.
Automotive tariffs have hit manufacturers hard, with Stellantis — the parent company of Chrysler and Jeep — scaling back on production in Canada and Mexico, and temporarily laying off over 900 employees in the US across various manufacturing plants.
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/25/04/44705972/ford-motor-general-motors-to-witness-higher-demand-as-american-automotives-reap-the-fruit-of-protectionism-says-expert-heres-a-list-of-potential-gainers-and-losers">Ford, GM To Witness &#8216;Higher Demand&#8217; As American Carmakers Set To &#8216;Reap The Fruit Of Protectionism,&#8217; Says Expert: Here&#8217;s A List Of Potential Gainers And Losers From Trump Tariffs</a></li>
</ul>
Photo courtesy: Shutterstock

FORD

Michigan Auto Groups Criticize Donald Trump For Not Halting Auto Tariffs, Say Employees And Supply Chain Will Continue To Endure Uncertainty

Canada&#8217;s telecom giant, Bell Canada, is pushing back against subsidies for Elon Musk&#8216;s Starlink, amid a wave of national criticism for Musk&#8217;s ventures due to his ties with the Trump administration.
What Happened: Bell Canada has urged the Canadian Radio-television and Telecommunications Commission (CRTC) to exclude Starlink from receiving millions in annual subsidies, according to a report by the <a href="https://www.ft.com/content/c58b6633-8b64-4b79-b35b-d00f380b5c3a">Financial Times</a>.
Bell Canada and its subsidiary Northwestel, the country&#8217;s top telecom company by revenue, are opposing the CRTC&#8217;s plan to subsidize Starlink. 
"Starlink charges the same price to Canadian customers no matter where they live," Bell Canada told Fortune. "Therefore, if they were eligible for a subsidy, Canadians in the rest of the country would pay more than those in North. This outcome is against the purpose of the proposed subsidy,&#8221; the telecom giant added.
SpaceX, Starlink&#8217;s parent company, counters that Bell&#8217;s actions would restrict options for individuals in remote and isolated communities, including Aboriginal groups. The CRTC has stated that the public consultation on the Internet service subsidy is ongoing and a decision will be announced in due time.
Meanwhile, Geoff White, the executive director of the Public Interest Advocacy Centre (PIAC) told FT, "We should not be giving one cent of public money to an unaccountable imperialist like Elon Musk.&#8221; White has advocated for more accessible and affordable internet services for all Canadians.
SEE ALSO: <a href="https://benzinga.com/news/global/25/04/44725016/us-steel-stock-tumbles-as-trump-says-we-dont-want-to-see-it-go-to-japan" target="_blank" rel="noreferrer noopener">US Steel Stock Tumbles As Trump Says &#8216;We Don&#8217;t Want To See It Go To Japan&#8217;</a>
Why It Matters: This development comes in the wake of a series of setbacks for <a href="https://www.benzinga.com/25/02/43446852/elons-trump-alignment-costs-him-his-canada-starlink-contract">Musk&#8217;s ventures </a>in Canada. In February, Ontario Premier Doug Ford scrapped a nearly $100 million contract with Starlink, citing U.S. tariffs threatening Canadian businesses. FT also reported that ​Quebec, which invested nearly $130 million since May 2022 to provide high-speed internet to remote areas through a partnership with Starlink, will not renew its subsidy program when it expires in June. The provincial government is exploring the development of a Canadian-owned satellite system to achieve &#8220;connectivity sovereignty&#8221; and reduce reliance on foreign providers.
In March, Tesla&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) electric vehicle charging stations and home batteries were <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded from rebates</a> in the Canadian province of British Columbia due to U.S.-Canada trade tensions. 
The dispute in Canada highlights how Elon Musk's strong association with former U.S. President Donald Trump has made his global business ventures more vulnerable. Currently, about half of Musk's net worth—exceeding $300 billion—is linked to SpaceX, which was recently valued at $350 billion in a private tender offer.
These events have contributed to the nationwide disapproval of Musk&#8217;s ventures and may influence the CRTC&#8217;s decision on Starlink&#8217;s subsidies.
<ul>
<li>READ MORE: <a href="https://benzinga.com/markets/cryptocurrency/25/04/44721390/bitcoin-ethereum-xrp-dogecoin-explode-higher-as-trump-hits-pause-on-reciprocal-tariffs" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Explode Higher As Trump Hits Pause On Reciprocal Tariffs &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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