Ferrovial (NASDAQ:FER) Azioni

Ferrovial SE is a Spanish industrial company. The company organizes itself into four segments: Toll Roads, Airports, Construction, and Energy. The Toll Roads segment develops and operates toll roads globally. The Airports segment includes the Development, financing and operation of airports. The Construction segment Designs and executes all public and private works, including most notably the construction of public infrastructures. The Energy segment focuses on innovative solutions for promoting, constructing and operating energy generation and transmission infrastructures.

Ferrovial SE

Fifth Era Acquisition Corp I - Class A Ordinary Shares

Fifth Era Acquisition Corp I

Fifth Era Acquisition Corp I - Rights

Ferguson Enterprises Inc

Fearless Films Inc

Fernhill Corp

<a href="https://www.globenewswire.com/Tracker?data=xhw6rhowU358A8ZxfVUliAx8YiMuTRMBZUSW5GqFVZJw4l6BFIGyHBQg3PuKCyzZhTbMlfPcONmxoSnP4QWDShokprdfE_kACn1fxxjYpGx_kyxYXQTFosFhzEXL76S4s6DHZh9u8zcwQ9aDz-6FS8yibpNdsBCXa0GDwzU5e8qHQ6MGGO57jeEFrQnnnHJz-krSclkrcksGZ5KrxQGw7GMhhBlbgOjSOf2j8bG33TFzPRoN1Ogn-6Znn0XR6gpP0RVJU01LLIHaZ5JnEp7ZRg==">Zeo Energy Corp</a>. (NASDAQ:<a href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) ("Zeo Energy," or "Zeo"), a leading Florida-based provider of residential solar and energy efficiency solutions, and <a href="https://www.globenewswire.com/Tracker?data=ZzJsH3PtzjqmJDRcn7y9lgMIrMMzv8th2v_oSN09615JTIMt52xeQg8rEpG-YZoghz-2Ot9JCreB5I1D2xo-5mRCDllFdeeQWl1GE0wyFOA=">Heliogen, Inc.</a> (OTCQX:<a href="https://www.benzinga.com/stock/HLGN#OTCQX">HLGN</a>) ("Heliogen"), a provider of on-demand clean energy technology solutions, today announced they have entered into a definitive agreement and plan of merger and reorganization (the "Merger Agreement") pursuant to which Zeo will acquire all of Heliogen's outstanding equity securities in an all-stock transaction. The transaction is currently expected to close in the third quarter of 2025, subject to customary closing conditions.
Following the closing of the transaction, Zeo plans to leverage Heliogen's solutions, brand, intellectual property, capital, and technical talent to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers. The transaction is expected to create a robust clean energy platform spanning residential, commercial, and utility-scale markets, supported by internal financing capabilities and domain expertise.
Management Commentary
"Heliogen brings a set of practical solutions to customers, particularly data centers, looking for longer duration energy storage with substantially lower costs than alternatives on the market," said Tim Bridgewater, CEO of Zeo Energy. "Through this acquisition, we believe that Zeo will be able to accelerate our vision of serving energy consumers across the spectrum – from residential rooftops to larger-scale industrial solar and storage applications to build an energy platform at scale."
"We believe this combination offers a compelling opportunity for Heliogen stockholders through the opportunity to participate in the substantial growth potential of the combined company," added Christiana Obiaya, CEO of Heliogen. "We believe that Zeo's proven track record and network of customers can enhance the value creation opportunities for Heliogen's solutions and technical capabilities, while enhancing liquidity for stockholders. We're proud to be joining forces to scale practical, dispatchable clean energy solutions. This transaction is the result of the Heliogen Board's comprehensive review of strategic alternatives. Our Board is unanimous in its belief that this transaction is the optimal path forward and in the best interest of our stockholders."
Strategic Rationale
<ul>
<li>Expanded Market Reach: The transaction unites Zeo's existing residential solar and storage footprint with Heliogen's long-duration energy storage expertise. Heliogen's commercial and utility-scale thermal storage solutions address mission-critical power quality and energy capacity issues faced by AI and cloud computing data centers, while concurrently aiding grid stability. &nbsp;</li>
<li>Operational Synergies: The transaction is expected to streamline costs and reduce corporate overhead, while retaining core technical and commercial talent. &nbsp;</li>
<li>Strengthened Balance Sheet: At close, Zeo anticipates benefiting from Heliogen's incremental liquidity, supporting investments for future growth in the solar and energy storage space. &nbsp;</li>
<li>Enhanced Financing Capabilities: Zeo's affiliated financing arm, which has provided over $44 million in clean energy tax equity financing to date, has the ability to be used for future Heliogen utility-scale and long-duration energy storage projects. &nbsp;</li>
<li>Accelerated Growth Opportunities: The transaction seeks to position Zeo to capitalize on increasing demand for resilient, cost-effective, low-carbon energy infrastructure, supported by favorable long-term tailwinds and potential tax equity investments. &nbsp;</li>
</ul>
Transaction Details and Closing Timeline
Under the terms of the Merger Agreement, upon the closing of the transaction, Heliogen's securityholders will receive shares of Zeo's Class A common stock valued at approximately $10 million in the aggregate, based on a Zeo Class A common stock price of $1.5859 per share, and subject to an adjustment mechanism based on Heliogen's net cash at the closing.
The proposed transaction has been unanimously approved by the Board of Directors of both companies and is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by Heliogen's stockholders, as well as Heliogen having a specified minimum amount of net cash at the closing. Certain Heliogen stockholders holding approximately 23% of Heliogen's outstanding shares of common stock have entered into voting agreements, pursuant to which they have agreed, among other things, to vote all of such shares in favor of the proposed transaction. The proposed transaction will not require the approval of Zeo's stockholders under Nasdaq rules.

News

Zeo Energy to Acquire Heliogen in All-Stock Deal Valued at $10M

Needham analyst Mike Cikos reiterates Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) with a Buy and maintains $75 price target.

Price Target

Reiteration

Analyst Ratings

PSTG

Needham Reiterates Buy on Pure Storage, Maintains $75 Price Target

Matador Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) ("Matador") and its midstream affiliate, San Mateo Midstream, LLC ("San Mateo") today announced the successful start up of San Mateo's Marlan cryogenic natural gas processing plant (the "Marlan Plant") expansion in Eddy County, New Mexico. In addition, Matador is pleased to announce a recent upgrade by Fitch Ratings, Inc. ("Fitch") to the Company's corporate credit rating to BB and the reaffirmation of the Company's $3.25 billion borrowing base and $2.25 billion elected commitment under its reserves-based revolving credit facility by its 19-member bank group.

MTDR

Matador Resources Announces Start Up Of Its Affiliate San Mateo's Marlan Cryogenic Natural Gas Processing Plant Expansion In Eddy County, New Mexico

<a href="https://www.globenewswire.com/Tracker?data=oIIirWyWNdm_QNR_BHQCYOBtwoCLghjPUaVMlbGj93FCHvID0-qO8DOskfBFqCWbwZfz4cAkvYJBUM3kImSHz6TpGrV3pE0okqHB4beeEUk=">Hyperscale Data, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#NYSE">GPUS</a>), a diversified holding company ("Hyperscale Data" or the "Company"), today announced that its wholly owned subsidiary, Ault Capital Group, Inc. ("ACG") is planning to launch an enterprise-focused XRP lending platform (the "Platform") in the third quarter of 2025. The Platform, which will initially be a beta version, is expected to be ACG's first decentralized finance ("DeFi") application.
The Platform will be exclusively available to public companies listed on the New York Stock Exchange, the NYSE American and all three tiers of the NASDAQ Stock Market. Eligible applicants will be able to apply to borrow up to a fixed amount of XRP (each, a "Loan") on terms and conditions negotiated between the applicant and ACG. Once finalized, the Loan details will be posted on-chain. The Loans are expected to be secured by assets of the applicant and/or convertible into registered shares of common stock of the applicant.
As the Loans are currently anticipated to be repaid in XRP, ACG expects to utilize XRP futures contracts on the Chicago Mercantile Exchange to hedge market exposure, bringing a different approach to risk management and financial sophistication to cryptocurrency-based lending. The Platform will leverage the XRP Ledger to facilitate fast, low cost, and secure lending, backed by ACG's recently announced initiative to acquire up to $10 million of XRP.
ACG is seeking to deliver a secure, compliant and institutional-grade solution for blockchain-based lending. The Platform is part of ACG's broader initiative to tokenize real-world assets, provide alternative financing solutions to listed companies, and facilitate cross-border settlements using blockchain technology. Additional crypto-financial instruments are expected to be announced in the coming months.

GPUS

Hyperscale Data Plans XRP Lending Platform for Public Companies, Eyes Q3 Beta Launch

American Woodmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>) reported quarterly earnings of $1.61 per share which missed the analyst consensus estimate of $1.68 by 4.17 percent. This is a 5.29 percent decrease over earnings of $1.70 per share from the same period last year. The company reported quarterly sales of $400.39 million which missed the analyst consensus estimate of $432.65 million by 7.46 percent. This is a 11.67 percent decrease over sales of $453.28 million the same period last year.

Earnings

Earnings Misses

AMWD

American Woodmark Q4 Adj. EPS $1.61 Misses $1.68 Estimate, Sales $400.39M Miss $432.65M Estimate

Needham analyst Mayank Tandon reiterates Ncino (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) with a Buy and maintains $33 price target.

NCNO

Needham Reiterates Buy on Ncino, Maintains $33 Price Target

Initial Ruling Finds Chinese Producers are Receiving Unfair Government Subsidies
U.S. - Imposed Tariffs Should Benefit Domestic Anode Producers
Westwater Resources, Inc. (NYSE:<a href="https://www.benzinga.com/stock/WWR#NYSE">WWR</a>), an energy technology and battery-grade natural graphite company ("Westwater" or the "Company"), announced today its support of the U.S. Department of Commerce's ("DOC") preliminary determination in the countervailing duty investigation of anode material from the People's Republic of China. The DOC's initial ruling determined that Chinese producers of anode material are receiving unfair government subsidies, and as a result, are now expected to be subject to U.S. import tariffs of up to 721%.

Westwater Resources Supports U.S. DOC's Preliminary Determination In Countervailing Duty Investigation Of Anode Material From People's Republic Of China

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437942-1&amp;h=525954731&amp;u=https%3A%2F%2Fwww.viavisolutions.com%2F&amp;a=VIAVI+Solutions+Inc.">VIAVI Solutions Inc.</a>&nbsp;(VIAVI) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIAV#NASDAQ">VIAV</a>) and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437942-1&amp;h=3676976583&amp;u=https%3A%2F%2Fwww.3-gis.com%2F&amp;a=3-GIS">3-GIS</a>, a market-leading fiber network design and management software provider, today announced a partnership to empower businesses with faster, more accurate fiber fault location capabilities, while also leveraging customers' existing Geographic Information System (GIS) investments. The combined solution, currently deployed at Windstream Wholesale, automates the current manual processes, offering significant advantages in improving network maintenance, minimizing downtime, increasing revenue and reducing cost.&nbsp;VIAVI, 3-GIS and Windstream will discuss this joint solution and its customer benefits in a <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437942-1&amp;h=875181135&amp;u=https%3A%2F%2Fevent.on24.com%2Fwcc%2Fr%2F4939377%2FA41726636145C877120FABBFA9CB20F1%3Fpartnerref%3DViavi&amp;a=webinar">webinar</a> hosted by the Fiber Broadband Association on June 12, 2025.
&nbsp;
Fiber deployment is on the rise across transport networks, data centers, enterprises and home broadband. Demand is surging to support AI/ML, high-performance computing and other advanced technologies. Building out fiber networks is costly and time-consuming, and even slight degradations can have a significant effect on the end user's quality of experience, making fault identification and resolution critical to the network operator's financial performance.
VIAVI and 3-GIS have integrated the VIAVI <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437942-1&amp;h=990072171&amp;u=https%3A%2F%2Fwww.viavisolutions.com%2Fen-us%2Fproducts%2Fonmsi-remote-fiber-test-system-rfts&amp;a=ONMSi+Remote+Fiber+Test+System+(RFTS)">ONMSi Remote Fiber Test System (RFTS)</a> with 3-GIS's robust geospatial capabilities, speeding up the network technician's work to identify and resolve issues during network operations and maintenance. The VIAVI and 3-GIS integrated solution has been successfully implemented at Windstream Wholesale, as part of Windstream Wholesale's Intelligent Converged Optical Network (ICON).
Designed for rapid deployment on any existing fiber, the solution provides instant detection of full- or partial-cut impairments, allowing companies such as Windstream Wholesale to take action before their dark fiber customers identify a fiber issue. Significant reductions in repair times are also achieved by dispatching the right technician and test equipment the first time. Further, the integration allows Windstream Wholesale to correlate alarms directly to a specific client's service, enabling them to proactively notify the customer that action is already being taken&nbsp;before the customer calls in faults.
This combination of ONMSi with 3-GIS streamlines maintenance and repair operations by providing a single source of information to a technician, eliminating any conflicting data from different sources and speeding fault resolution.

VIAV

VIAVI and 3-GIS Partner to Cut Fiber Downtime, Boost Accuracy for Network Repairs

Needham analyst Ryan MacDonald maintains Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) with a Buy and raises the price target from $270 to $300.

VEEV

Needham Maintains Buy on Veeva Systems, Raises Price Target to $300

Needham analyst Ryan Koontz maintains Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) with a Buy and raises the price target from $85 to $90.

COHR

Needham Maintains Buy on Coherent, Raises Price Target to $90

Founder and CEO of SkyBridge Capital, Anthony Scaramucci, has some no-nonsense advice for young investors looking for success in an uncertain business landscape: own your flaws, consult older investors and embrace constant change.
What Happened: Speaking <a href="https://www.youtube.com/watch?v=xTPjaa_Rk9A">on</a> his podcast Open Book with Anthony Scaramucci, he said, "Own your s&#x2A;&#x2A;&#x2A; in life." "And once you&#8217;re able to own your s&#x2A;&#x2A;&#x2A; in life you can make massive improvements and it&#8217;ll help your psychological health. It&#8217;ll help your happiness and it&#8217;ll help your outlook on life."
He highlighted that this should be the "number one" priority for any individual.
Highlighting the importance of resilience, he said: "People that are in business for three, four decades, they&#8217;ve had at least eight to nine cataclysms&#8230; those bear markets steel you for staying in things and being patient." This piece of advice echoes lessons Scaramucci learnt from unknowingly holding on to <a href="https://www.benzinga.com/tech/25/04/45057119/anthony-scaramucci-once-purchased-1200-worth-of-microsoft-stock-for-his-son-in-1992-and-then-forgot-about-it-three-decades-later-it-quietly-turned-into-a-small-fortune-that-he-didn">$1,200 worth of Microsoft stock</a> from 1992, which went up to $288,000 over twenty years.
For young investors, Scaramucci recommended consulting with seasoned professionals: "Seek out older investors that have been destroyed in the markets like me over the nine cycles that I&#8217;ve gone through because it&#8217;ll help you. It&#8217;ll give you perspective and it&#8217;ll teach you patience in the markets."
See Also: <a href="https://www.benzinga.com/25/05/45661911/bitcoin-in-retirement-plans-labor-department-rescinds-biden-era-guidance-on-401k-crypto-inclusion">Bitcoin In Your 401(k)? Trump&#8217;s Labor Department Rolls Back Biden-Era Guidance On Crypto In The Employer-Sponsored Retirement Plan</a>
Why It Matters: Scaramucci stressed the value of risk-taking as a strategy for growth. "You have to embrace new technologies and you have to embrace new ideas," he said. "Your brain is incredibly neuroplastic. It definitely can evolve and reshape its thinking."
Advising young investors not to harbor a fear-based mindset, he said: "When people say the word risk sometimes they only hear downside risk… But risk also means reward. And you got to be willing to take some risk."
Scaramucci, who regularly doles out advice on his podcast, reiterated his stance on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45611404/anthony-scaramucci-remains-firm-on-bitcoin-as-the-best-investment-idea-even-as-the-largest-crypto-hovers-around-109000"> being the single best investment idea</a> earlier this week.
Price Action: At the time of writing, BTC was trading at $108034.13, up 0.19% in the last 24 hours, according to data from <a href="https://www.benzinga.com/quote/BTC-USD">Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45655675/bitcoin-ethereum-xrp-dogecoin-slide-as-vp-vance-pledges-crypto-support">Bitcoin, Ethereum, XRP, Dogecoin Slide As VP Vance Pledges Crypto Support</a></li>
</ul>
Photo courtesy: Al Teich / Shutterstock.com

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

Cryptocurrency

Personal Finance

$BTC

Anthony Scaramucci Says 'Own Your S***' Is The First Rule for Young Investors: Urges Them To Embrace Change, Take Risks And Learn From Market Veterans Like Him

TD Securities analyst Andrew Charles downgrades Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) from Buy to Hold and maintains the price target from $90 to $90.

Downgrades

SBUX

TD Securities Downgrades Starbucks to Hold, Maintains Price Target to $90

Leveraging Google Cloud's agentic AI framework and Infosys Topaz, these agents are designed to transform enterprise processes

Tech

General

INFY

Infosys Announced The Launch Of Over 200 Enterprise AI Agents Powered By Infosys Topaz AI Offerings And Google Cloud's Vertex AI Platform

Needham analyst Scott Berg reiterates Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Buy and maintains $400 price target.

Needham Reiterates Buy on Salesforce, Maintains $400 Price Target

Shell PLC&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) Shell Nigeria Exploration inked a deal with TotalEnergies SE&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) TotalEnergies EP Nigeria Limited involving SNEPCo acquiring TotalEnergies&#8217; 12.5% interest in the OML 118 Production Sharing Contract <a target="_blank" href="https://www.benzinga.com/topic/equities" rel="noreferrer noopener">(OML 118 PSC) for</a><a target="_blank" href="https://www.benzinga.com/topic/equities" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/topic/equities" rel="noreferrer noopener">$510 million</a>.
Once completed, this transaction will increase Shell&#8217;s ownership in the OML 118 PSC from 55% <a target="_blank" href="https://totalenergies.com/news/press-releases/nigeria-totalenergies-divests-its-non-operated-interest-bonga-field" rel="noreferrer noopener">to</a> 67.5%.
This targeted investment aligns with Shell&#8217;s goal of growing its combined Integrated Gas and Upstream total production by 1% per year to 2030 and sustaining its 1.4 million barrels per day of liquids production, the company said.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/45207503" rel="noreferrer noopener">Shell Chemical Division Sale To Improve Bottom Line: Analyst</a>
The Bonga field itself is a deep-water development situated in OML 118, with water depths exceeding 1,000 meters.
Bonga North is estimated to hold over 300 million barrels of oil equivalent in recoverable resources and is projected to reach a peak production of 110,000 barrels of oil per day, with initial oil expected by the end of the current decade.
Production at Bonga began in 2005, initially capable of producing 225,000 barrels of oil per day. Notably, the Bonga field produced its one-billionth barrel of crude oil in 2023.
This acquisition represents a significant investment in Nigeria&#8217;s deep-water sector, contributing to sustained liquids production and growth in Shell&#8217;s Upstream portfolio. Peter Costello, Shell's President, Upstream, stated that the acquisition &#8220;brings another significant investment in Nigeria deep-water that contributes to sustained liquids production and growth in our Upstream portfolio."
For TotalEnergies, the sale is part of the company&#8217;s strategy to high-grade its Upstream portfolio, focusing on assets with low technical costs and low emissions, and aiming to lower its cash breakeven. Nicolas Terraz, President Exploration &amp; Production at TotalEnergies, noted that in Nigeria, the company is shifting its focus to its operated gas and offshore oil assets, including the progression of the Ubeta project to sustain gas supply to Nigeria LNG.
The deal is pending regulatory approvals and other closing conditions, with completion anticipated by the end of this year.
Investors can gain exposure to Shell via Precidian ETFs Trust Shell plc ADRhedged (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEH#NYSE">SHEH</a>) and&nbsp;Abacus FCF Real Assets Leaders ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ABLD#BATS">ABLD</a>).
Price Action: SHEL shares are trading higher by 0.89% to $66.63 premarket at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/25/05/45168189/shells-q1-profit-surges-52-announces-35-billion-buyback-more" target="_blank" rel="noreferrer noopener">Shell Q1 Profit Jumps 52%, Launches $3.5 Billion Stock Buyback</a></li>
</ul>
Photo by FotograFFF via Shutterstock

Equities

Large Cap

Movers

ABLD

AstraZeneca PLC ADRhedged Shell plc ADRhedged

SHEH

SHEL

Shell Boosts Nigerian Deepwater Assets With TotalEnergies Stake Purchase

Ascendiant Capital analyst Edward Woo maintains Banzai International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) with a Buy and lowers the price target from $26 to $24.

BNZI

Ascendiant Capital Maintains Buy on Banzai International, Lowers Price Target to $24

Hormel Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) narrows FY2025 GAAP EPS guidance from $1.49-$1.63 to $1.49-$1.59 vs $1.54 analyst estimate..

Guidance

Hormel Foods Narrows FY2025 GAAP EPS Guidance from $1.49-$1.63 to $1.49-$1.59 vs $1.54 Est; Company Reaffirms Outlook Of YoY T&M Benefits In The Range Of $100M-$150M

U.S. stock futures jumped on Thursday after ending lower on Wednesday. Futures of major benchmark indices rose over 1% in premarket.
A federal court has<a href="https://www.benzinga.com/news/25/05/45660322/trump-tariffs-struck-down-by-federal-court-major-blow-to-white-houses-trade-strategy-report"> invalidated global tariffs</a> enacted by President Donald Trump under the International Emergency Economic Powers Act, a move that could reshape future U.S. trade policy. 
The U.S. Court of International Trade&#8217;s decision challenged the extensive tariff authority previously wielded by the Trump administration and may impact ongoing trade strategies.
A three-judge panel, with appointees from the Reagan, Obama, and Trump eras, ruled that the IEEPA doesn&#8217;t give the president unlimited power to impose tariffs.
The Trump administration filed an appeal against the ruling in minutes, according to a Reuters report.
Meanwhile, the 10-year Treasury bond yielded 4.52% and the two-year bond was at 4.03%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 97.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>1.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.54%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>1.95%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.92%</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, jumped in premarket on Thursday. The SPY was up 1.51% to $596.62, while the QQQ advanced 1.96% to $529.09, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
U.S. stocks closed lower on Wednesday, with the Dow Jones dropping over 200 points, as rising Treasury yields countered Tuesday&#8217;s trade optimism.
All S&amp;P 500 sectors ended in the red, with utilities, materials, and energy stocks experiencing the most significant declines.
In retail, Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) adjusted its annual forecast downward, citing impacts from tariffs, a slight dip in consumer discretionary spending, and an intensified promotional environment.
Conversely, Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) delivered stronger-than-expected first-quarter earnings. Economic data showed the composite manufacturing index in the U.S. Fifth District improving to -9 in May from -13 in April.
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.51%</td>
<td>19,100.94</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.56%</td>
<td>5,888.55</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.58%</td>
<td>42,098.70</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.08%</td>
<td>2,067.80</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
After the Federal Court struck down Trump&#8217;s tariffs, Craig Shapiro, a macro strategist at the Bear Traps Report, said that &#8220;Without tariff revenues, there is a big beautiful hole in the big beautiful budget bill.&#8221;
This implied the administration&#8217;s promise to fund the deficit created by the tax bill through tariff revenue and the Department of Government Efficiency savings.
Shapiro&#8217;s post highlights a budget crisis that could be triggered by the removal of tariff revenue.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Without tariff revenues, there is a big beautiful hole in the big beautiful budget bill Are the bond vigilantes with us in the room?
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1927891799596523725?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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Bob Elliott, CIO at Unlimited Funds, highlighted an <a href="https://www.benzinga.com/general/market-summary/25/05/45641879/stock-market-is-pricing-a-never-before-seen-divergence-as-equities-and-bonds-run-it-hot-amid-gloomy-outlook-by-bottom-up-analysts">unprecedented "divergence"</a> which he has "never seen" in his professional career outside of typical cyclical bottoms. 
According to him, despite the seemingly extreme market optimism, the perspective from professionals analyzing data from the ground up painted a far more subdued picture.
He explained that aggressive market pricing stands in stark contrast to the pessimistic views held by bottom-up analysts, companies, and economists.
Elliott highlighted in an X thread that corporate earnings revisions for U.S. large-cap companies have notably collapsed, reaching their weakest point since the COVID-19 pandemic. Global earnings revisions also remain quite subdued, despite a marginal recent uptick in negativity.
Projections for 2025 earnings growth, which are typically skewed positively until just before the period, are currently penciled in at a mere 7%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stock and bond markets are all in on the &quot;run it hot&quot; trade. But this market pricing is in sharp contrast to the bottoms up view of companies, analysts, and economists all of which remain quite pessimistic. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1927666792022884672?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>The initial jobless claims for the week ending May 24 and the first quarter revised GDP data will be out by 8:30 a.m. ET.</li>
<li>Richmond Fed President Tom Barkin will speak at 8:30 a.m. ET.</li>
<li>Pending home sales data for April will be released by 10:00 a.m. ET.</li>
<li>Chicago Fed President Austan Goolsbee will speak at 10:40 a.m., Fed Governor Adriana Kugler will speak at 2:00 p.m., San Francisco Fed President Mary Daly will speak at 4:00 p.m., and Dallas Fed President Lorie Logan will speak at 8:45 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Best Buy Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) jumped 5.01% in premarket on Thursday as analysts expect it to report quarterly earnings of $1.31 per share on revenue of $9.22 billion, before the opening bell.</li>
<li>Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) was 0.30% lower ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 34 cents per share on revenue of $2.91 billion.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) was up 2.27% as analysts expect it to report quarterly earnings of 80 cents per share on revenue of $13.15 billion, after the closing bell.</li>
<li>Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) was 0.48% higher ahead of its earnings, which are supposed to be released after the closing bell. Analysts expect earnings of $4.24 per share on revenue of $63.19 billion.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 5.10% after reporting first-quarter revenue of $44.1 billion, up 69% year-over-year and up 12% from the fourth quarter. The revenue beat a Street consensus estimate of $43.2 billion. Nvidia reported adjusted earnings of 81 cents per share in the first quarter.</li>
<li>C3.ai Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) surged 17.29% after reporting better-than-expected fourth quarter results on Wednesday.</li>
<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) was up 1.72% after delivering strong results and continuing to place its bets on the multitrillion-dollar opportunity arising from the digital labor revolution.</li>
<li>Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) advanced 2.63% after a strong set of earnings and guidance. The company said that it would not hike prices despite a $50 million cost incurred because of tariffs.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.34% to hover around $62.67 per barrel.
Gold Spot US Dollar fell 0.28% to hover around $3,279.89 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.14% at the 100.0170 level.
Asian markets closed higher on Thursday as South Korea's Kospi, China&#8217;s CSI 300, India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng indices rose. European markets were mixed in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45611941/quantum-computing-stocks-in-focus-pure-play-vs-large-caps-heres-a-look-at-the-valuations">Quantum Computing Stocks In Focus: Pure Play Vs. Large Caps &#8211; Here&#8217;s A Look At The Valuations </a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Market Summary

Futures

Economics

Pre-Market Outlook

Markets

COST

DELL

NVDA

US Stocks Likely To Open Higher After Federal Court Blocks Trump's Tariffs: 'Without Tariff Revenues, There Is A Big Beautiful Hole In The Big Beautiful Budget Bill,' Says Expert

Hormel Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) narrows FY2025 Adj EPS guidance from $1.58-$1.72 to $1.58-$1.68 vs $1.61 analyst estimate. Raises FY2025 sales outlook from $11.90 billion-$12.20 billion to $12.00 billion-$12.20 billion vs $12.12 billion estimate.

Hormel Foods Narrows FY2025 Adj EPS Guidance from $1.58-$1.72 to $1.58-$1.68 vs $1.61 Est; Raises FY2025 Sales Guidance from $11.90B-$12.20B to $12.00B-$12.20B vs $12.12B Est

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