Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) reported first-quarter financial results after the market close on Wednesday. Here&#8217;s a look at the key metrics <a href="https://www.benzinga.com/pressreleases/25/05/b45552044/snowflake-reports-financial-results-for-the-first-quarter-of-fiscal-2026">from the quarter</a>.



Q1 Earnings: Snowflake reported first-quarter revenue of $1.04 billion, beating analyst <a href="http://benzinga.com/quote/SNOW/earnings">estimates</a> of $1.01 billion.&nbsp;The AI data cloud company reported adjusted earnings of 24 cents&nbsp;per share, beating analyst estimates of 21 cents&nbsp;per share, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 26% year-over-year. Product revenue came in at $996.8 million, also up 26% year-over-year. Net revenue retention rate was 124% in the quarter.&nbsp;



Remaining performance obligations totaled $6.7 billion, up 34% year-over-year. Snowflake said it ended the quarter with 606 customers with trailing 12-month product revenue greater than $1 million. The company also had approximately $2.24 billion in cash and cash equivalents at quarter&#8217;s end.



&#8220;Snowflake&#8217;s mission is to empower every enterprise to achieve its full potential through data and AI,&#8221; said&nbsp;Sridhar Ramaswamy,&nbsp;CEO of Snowflake.



&#8220;Our focus on making the Snowflake platform easy to use, to enable fluid access to data wherever it sits, and trusted for enterprise-grade performance, is what makes us differentiated and beloved by more than 11,000 customers. We see an enormous opportunity ahead as we extend this value throughout the full data lifecycle.&#8221;



Guidance:&nbsp;Snowflake&nbsp;expects second-quarter product revenue in the range of $1.035 billion to $1.04 billion,&nbsp;up approximately 25% year-over-year. The company anticipates full-year product revenue of $4.33 billion, representing 25% year-over-year growth.



Snowflake executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.



SNOW Price Action: <a href="http://benzinga.com/quote/SNOW">Snowflake shares</a> were up approximately 17% year-to-date heading into the print. The stock was up 7.41% in after-hours, trading at $192 at the time of publication on Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Read Next:



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<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/05/45550440/snowflake-melts-resistance-can-q1-earnings-spark-a-fresh-flurry-of-gains">Snowflake Melts Resistance: Can Q1 Earnings Spark A Fresh Flurry Of Gains?</a></li>



<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45550679/treasury-yields-top-5-these-20-stocks-tanked-in-just-one-hour">Treasury Yields Top 5%: These 20 Stocks Tanked In Just One Hour</a></li>
</ul>



Photo: Shutterstock.

Earnings

News

Guidance

Movers

SNOW

Snowflake Q1 Earnings: Revenue, EPS Beat Estimates, AI Data Cloud Company Sees 25% Growth Ahead, Shares Climb

A sharp jump in Treasury yields following Wednesday's weak 20-year bond auction triggered a swift market reaction, with several high-growth and tech names plunging between 1:05 p.m. and 2:05 p.m. ET—the exact window 30-year <a href="https://www.benzinga.com/news/treasuries">yields spiked above 5.08%.</a>



Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) led the decline, falling 6.9%, followed by Hims &amp; Hers Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>), which dropped 5%, data from <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a> platform shows. 



AI infrastructure firm CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) slid 4.4%, while Bitcoin-linked Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) tumbled 4.3%. 



Trading platform Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) lost 3.7%.



The selloff came as investors repriced risk across equities amid fears of persistently higher rates, sparked by soft demand at the 20-year Treasury auction. 



The bid-to-cover ratio of 2.46 landed near the bottom quartile of the past 50 auctions, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), sliding to a 19-month low.



Notable losers among the 20 movers with at least $10 billion market cap also included Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), with declines of 3.1%, 2.9% and 2.7%, respectively. 



Semiconductor names also came under pressure, as ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) fell 2.8%, while Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) lost 3% during the hour-long selloff. Other high-beta tech stocks such as Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) and Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) each dropped over 3%, reflecting broad-based risk aversion triggered by the Treasury market spike. 



The weakness extended into biotech and aerospace sectors as well, with Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) and Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) down 2.7% and 3.5%, respectively.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Name</th><th>Price</th><th>% Change</th></tr></thead><tbody><tr><td>Tempus AI</td><td>$60.39</td><td>-6.91%</td></tr><tr><td>Hims &amp; Hers Health</td><td>$58.27</td><td>-5.00%</td></tr><tr><td>CoreWeave</td><td>$104.33</td><td>-4.44%</td></tr><tr><td>Strategy</td><td>$399.58</td><td>-4.15%</td></tr><tr><td>Robinhood Markets</td><td>$64.11</td><td>-3.73%</td></tr><tr><td>Aurora Innovation</td><td>$6.17</td><td>-3.60%</td></tr><tr><td>Rocket Lab USA</td><td>$25.48</td><td>-3.51%</td></tr><tr><td>Credo Technology Group</td><td>$60.98</td><td>-3.24%</td></tr><tr><td>Mobileye Global</td><td>$15.88</td><td>-3.23%</td></tr><tr><td>Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>)</td><td>$92.15</td><td>-3.21%</td></tr><tr><td>ServiceTitan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTAN#NASDAQ">TTAN</a>)</td><td>$123.13</td><td>-3.07%</td></tr><tr><td>Palantir Technologies</td><td>$122.40</td><td>-3.05%</td></tr><tr><td>Super Micro Computer</td><td>$42.16</td><td>-3.04%</td></tr><tr><td>Estee Lauder Cos Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>)</td><td>$64.11</td><td>-2.96%</td></tr><tr><td>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td><td>$260.26</td><td>-2.92%</td></tr><tr><td>Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>)</td><td>$103.95</td><td>-2.89%</td></tr><tr><td>ON Semiconductor</td><td>$44.03</td><td>-2.82%</td></tr><tr><td>Summit Therapeutics</td><td>$25.59</td><td>-2.69%</td></tr><tr><td>Nvidia Corp. </td><td>$133.27</td><td>-2.69%</td></tr><tr><td>Kinsale Capital Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNSL#NYSE">KNSL</a>)</td><td>$460.03</td><td>-2.64%</td></tr></tbody></table><figcaption class="wp-element-caption">Benzinga Pro</figcaption></figure>



<h3 class="wp-block-heading">Wall Street Extend Lows</h3>



The S&amp;P 500 Index, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), deepened losses, falling 1.3% by 2:17 p.m. ET, while small caps were hit harder, with the Russell 2000 plunging 2.4%. 



All S&amp;P 500 sectors traded in negative territory, led by real estate, which dropped 2.7% under pressure from rising yields.



Gold miners, tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), were the only industry group holding gains, supported by a rise in bullion prices as investors sought safety amid Treasury volatility. 



The clean energy industry was the day's worst performer, with the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) sliding 3.4%.



Read now: 



<ul class="wp-block-list">
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</ul>



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MBLY

MSTR

NVDA

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TTAN

Treasury Yields Top 5%: These 20 Stocks Tanked In Just One Hour

Markets have come close to returning to February highs after China and the U.S. reduced their tariffs. While markets are still shaky, with a Treasury bond auction on Tuesday sending stocks down, most of the tariff drama seems to be over for now.



But, while markets as a whole have recovered and earnings are upbeat, some undervalued companies still have not participated in the rebound.



That&#8217;s a huge buying opportunity.



Today, we'll look at five undervalued stocks in tariff-stricken industries that could see new life in the second half of 2025. Each of these stocks has at least a 90 Benzinga Edge Value score and a technical or fundamental catalyst indicating that a potential uptrend is forming.



<h2 class="wp-block-heading">KB Home Inc.</h2>



Benzinga Edge Value Score: 94.40



KB Home Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) builds single-family homes, townhomes, and condos across the southern and western parts of the United States. The company has a $3.8 billion market cap and reported sales over $2.85 billion in the last 12 months. Homebuilders have been under siege for two years now in the face of several headwinds: persistently high mortgage rates, increasing materials costs, tariffs on many of those same materials, and immigration crackdowns cutting into the construction labor force. But now that tariffs have been slashed and the Trump administration seems more focused on a tax cut extension, homebuilders like KB Homes could finally see some relief. 



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdnq69l4211aQFv0LYUvVH27eio2kDHWxR3SA3slIy8lV-f1qh0LGnArR4pg_9Ns-WqNVNhUC2RVfMjwh_Egi2Bu3EI8kcawnNm0oxXt_0AN74PdNFalJ2p9v_1VPB7z7V7kI6NpA?key=05JYZ0nbTmdWyX2hLdJTgA" alt=""/></figure>



KBH was the rare homebuilder that survived the 2022 bear market with momentum. The stock shot from $25.51 to a new all-time high above $85 in July 2024, the first time it closed over $85 since before the Great Recession of 2005. But momentum faded last fall, and the stock tumbled from $85 to $50 in just five months. However, this selloff might reveal a very undervalued stock: KBH trades at just 7.2 times forward earnings with a 0.56 Price-to-Sales (P/S) ratio and 0.94 Price-to-Book (P/B) value. The stock also has technical tailwinds thanks to an emerging support level and bullish movement on the MACD, which could indicate the downtrend is shifting upward.



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



Benzinga Edge Value Score: 94.37



Apparel is another industry suffering outsized pain from tariffs, especially in the footwear department. Companies like Nike and Foot Locker have suffered sustained drawdowns, many of which started long before the harshest tariffs were implemented earlier this year. Shoe Carnival (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) is a smaller firm than these giants, but they sell Nike, Adidas, Sketchers, Converse, and HEYDUDE-brand shoes at brick-and-mortar family-oriented outlets. 



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcOtXdVF9Ll8R4O1__yssP5fgq_n2v6DlRqxyQWRGvb_gf87zCG8KdcFyiIszt9oq5Pxt_Avksy4bZmZIkqF-1Mir_YRYnVntqs24FFEHarqksTWyGO_8ejyFzaRd9Vwjg29UfkAA?key=05JYZ0nbTmdWyX2hLdJTgA" alt=""/></figure>



Despite tariff pressure, Shoe Carnival has maintained profit margins above 6%. The stock trades at 10 times forward earnings with a 0.46 P/S ratio and 0.84 P/B value and pays a 2.99% dividend yield. Shares are down more than 35% year-to-date (YTD), but the stock has staged a small rally in the last month. SCVL was up 17% the previous month, and the Relative Strength Index (RSI) showed a breakout above a multi-month trading range.



<h2 class="wp-block-heading">Danaos Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAC#NYSE">DAC</a>)</h2>



Benzinga Edge Value Score: 95.33



Danaos Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAC#NYSE">DAC</a>) is an international bulk shipper with nearly 70 container ships, operating primarily in Asia and Europe. The company has a $1.6 billion market cap and posted over $1 billion in sales over the last year. Shipping companies were treading water in the sessions following the reciprocal tariff announcement, but rescinding those import fees has sent the stock careening toward new all-time highs.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcYBQP9UIHRwMYq2zfEQKUWzMOybRoDN_7db7Ov69Imb7vBWXoHoDBioecJhfwq1BZY30uFBxPbE8r9X3R5NzC58qaisx60U_nacS0am5ydpl8W2vO5XC_SuaC6DQ_BYgyEunUeeA?key=05JYZ0nbTmdWyX2hLdJTgA" alt=""/></figure>



Danaos reported earnings on May 13, and while the EPS figure was a miss, the company posted a surprise revenue beat, surpassing analysts' expectations by 4.7%. This report spurred researchers at Jeffries to reiterate the stock as a Buy and bump their price target to $105, indicating an upside potential of nearly 24%. The stock trades at just 3.2 times forward earnings, and its 46% profit margins are among the best numbers in the marine shipping industry. Shares are also riding a new support level above the 14-day exponential moving average (EMA), indicating the breakout may have more upward momentum ahead.



<h2 class="wp-block-heading">G-III Apparel Group Ltd.&nbsp;</h2>



Benzinga Edge Value Score: 95.62



Another apparel company on the verge of a potential breakout is G-III Apparel Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NYSE">GIII</a>), which manufactures licensed brands like DKNY, Tommy Hilfiger, Kenneth Cole, Dockers, and more alongside its own in-house brands and private labels. G-III Apparel has more than $3 billion in annual global sales, and its daily stock chart shows signs of a breakout similar to DAC&#8217;s.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeeiGthQN-5WeqcmH9jyWFcXSqPvQt4vw2BpEGYRjfPTd2v5HjW11imebFIsPTiG1w6dSbJBgPIii-baUKgMIqNqfTNU03BHMpuMzgOk2FCctCZQ6QrX7lusLn42Ef6kIR1eH1oXg?key=05JYZ0nbTmdWyX2hLdJTgA" alt=""/></figure>



The stock's 14-day EMA recently crossed the 21-day EMA, a bullish signal that now sees the 14-day EMA acting as support as shares break out above their pre-Liberation Day high water mark. The RSI also remains under 70, showing the stock has not yet reached overbought levels. GIII expects a net sales boost of more than 6% in the upcoming quarter, and the stock trades at just 6.7 times earnings with a 0.39 P/S ratio and 0.17 debt/equity ratio.



<h2 class="wp-block-heading">ASE Technology Holdings Co.&nbsp;</h2>



Benzinga Edge Value Score: 90.05



Tech is one sector that hasn't been struggling as much as the broader market, but some semiconductor companies are still undervalued, and ASE Technology Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>) has the signs of a stock ready to break higher. ASE tests and packages semiconductors for U.S., Asian and European firms and provides real estate and lab equipment for plants and warehouses.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdA4ECj1L7-wOQBK8ue731i8fuRgbENlquwqcKkeI9hX8nqKo0cYFQ96drdHc-lMpXBl02H5msRxC1CMxHmqhNGeBM_x_WgfFGY2BRshq_QSDrgFRvcC5CPwVDQ0eMPtC7u2v4P9A?key=05JYZ0nbTmdWyX2hLdJTgA" alt=""/></figure>



ASE shares experienced a 14-day and 21-day EMA cross, which provided bullish momentum and sent the stock above its pre-tariff announcement levels. The stock pulled back recently but is now approaching the 14-day EMA, which has been acting as support over the last few weeks. The stock has a 19.7 P/E ratio but trades at just 11.6 times forward earnings, with annual sales eclipsing $18 billion. The company also expects EPS growth of over 40% this year, which could further fuel this rally.



<h2 class="wp-block-heading">Your Edge To Beat The Market—Now 60% Off For Memorial Day</h2>



Get the tools serious investors use to build real wealth. With Benzinga Edge, you'll unlock weekly hidden-gem stock picks, analyst-backed rankings, and pro-grade screeners all in one dashboard. Join today <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-memorial-day-special/?utm_campaign=mdw-sale&amp;utm_adType=sponsorad&amp;utm_ad=RD052225&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a> and Save 60% for Memorial Day.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



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Opinion

Trading Ideas

GIII

SCVL

5 Undervalued Stocks To Buy On China Tariff Cuts

Analysts break down the potential impact of new products and features from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) on the stock following the company's<a href="https://www.benzinga.com/markets/25/05/45537306/google-unveils-total-reimagining-of-search-with-chatbot-style-feature-to-compete-with-openai"> I/O developer conference</a>.



The Alphabet Analysts: Citizens analyst Andrew Boone maintained a Market Perform rating on Alphabet with no price target.



JPMorgan analyst Doug Anmuth reiterated an Overweight rating with a $195 price target.



Goldman Sachs analyst Eric Sheridan reiterated a Buy rating with a $200 price target.



Read Also: <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">Alphabet Q1 Earnings Highlights: Google Search, YouTube, Cloud Show &#8216;Robust Momentum&#8217;</a>



Citizens on GOOGL: The I/O conference showed that artificial intelligence is improving every part of Google and the company's digital consumer experience, Boone said in a new investor note.



"I/O offers a glimpse into the future of AI-powered digital user experiences as AI advancements are driving more synthesization of information, agentic actions that are automating more of the consumer purchase journey," Boone said.



The analyst said new experiences like real-time translation and media creation could help Alphabet in its AI journey.



"We view AI as a tailwind for all forms of digital consumptions including media, commerce and services."



Boone said the concern is that competition for search is increasing and the U.S. search anti-trust trial is an overhang on Alphabet. The analyst said ChatGPT could be taking market share away.



"We believe commercial queries remain with Google, but the habituation of users to a different search experience should worry Google."



The analyst said Google is quickly rolling out its AI Mode, but its search business and revenue still face headwinds over the next few years.



"We believe shares are fairly valued at current levels."



JPMorgan on GOOGL: The Google I/O conference has Anmuth feeling "incrementally positive" about Alphabet.



"We believe Google is leading in many areas of AI with Gemini at the top of foundational model leaderboards," Anmuth said.



The analyst said Google's product innovation is "accelerating" and new products and experiences are being launched faster than ever.



"We believe Google's ‘total reimagining of search' is taking shape as AI Mode integrates what have been somewhat disparate AI products."



Anmuth said the road ahead is competitive, but Google shows confidence it can "navigate the shift to AI Search."



The analyst said AI Overviews, which were announced at I/O in 2024, have scaled to more than 1.5 billion monthly users and are driving improved satisfaction and engagement. Anmuth said AI Mode could have a similar impact on Google's search business.



"We believe Alphabet's fundamentals are solid and the company will remain both a driver of and primary beneficiary of an increasingly digital economy &amp; advances in Generative AI."



Goldman Sachs on GOOGL: The company's I/O keynote showed acceleration in AI innovation, Sheridan said in a new investor note.



"Building off its AI progress over the past several years, Google's I/O Keynote showcased a number of new products, services and features across its suite of products," Sheridan said.



The analyst said the new AI progress in shown across many business lines and could point to the company's long-term vision of having Gemini AI capabilities into many user experiences across consumer and enterprise services.



Sheridan said Google's event and the launch of AI Mode comes with investors having more fear about the potential disruption of traditional search from the rise of AI.



"These innovations showcase how the company is well-positioned across a wide array of form factors &amp; user interfaces that cover how AI-powered search may evolve over time."



The analyst said Alphabet is a leader in the AI and machine learning space.



"We came away from the keynote presentation increasingly constructive on Alphabet's long-term strategic positioning across many end-markets."



GOOGL Price Action: Alphabet stock is up 4.61% to $171.50 on Wednesday versus a 52-week trading range of $140.53 to $207.05. Alphabet stock is down 9.3% year-to-date and down around 3% over the last year.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45536887/this-is-the-first-time-in-two-decades-that-google-is-extremely-vulnerableperplexitys-ceo-breaks-down-search-giants-margin-trap">&#8216;This Is The First Time In Two Decades That Google Is Extremely Vulnerable:&#8217; Perplexity&#8217;s CEO Breaks Down Search Giant&#8217;s Margin Trap</a></li>
</ul>



Photo: Shutterstock

Price Target

Reiteration

GOOG

GOOGL

Alphabet 'Well Positioned' For Google Search Dominance: Analyst Says Can 'Navigate The Shift To AI Search'

After a sharp 23% rebound in the S&amp;P 500 since April, hedge funds are now stacking record levels of bearish bets against stocks as investors question the staying power of <a href="https://www.benzinga.com/topic/tariffs">the tariff-relief rally.</a>



Hedge funds have added $25 billion in short equity futures exposure over the last three Commitments of Traders (COT) reports—marking the largest three-week increase in at least a decade. 



This surge underscores deepening skepticism about the market's resilience following its V-shaped recovery after the tariff selloff.



<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">Hedge Funds have added $25 Billion of short equity futures exposure over the last 3 COT reports, the largest increase AT LEAST the last decade &#x1f6a8;&#x1f6a8; <a href="https://t.co/WxiEjHlmDS">pic.twitter.com/WxiEjHlmDS</a>&mdash; Barchart (@Barchart) <a href="https://twitter.com/Barchart/status/1925047520272502901?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Gross leverage, which includes both long and short exposures, has climbed to an all-time high, according to Goldman Sachs analyst Ben Snider. 



Although net leverage—longs minus shorts—remains below February levels, the acceleration in short interest has changed the landscape.



&#8220;As growth and inflation begin to reaccelerate, hedge funds and CTAs continue to fight the cycle—doubling down on long bonds and short risk. The macro bears aren't giving up without a fight,&#8221; said Oskar Vårdal, analyst at Steno Research. 



<h3 class="wp-block-heading">Where Are Hedge Funds Targeting Shorts?</h3>



Funds are targeting both exchange-traded funds (ETFs) and single-name stocks. 



According to data from Goldman Sachs, ETF short interest hit $218 billion in the second quarter, while single-stock short interest reached $948 billion. In over a decade, April alone saw the most significant jump in U.S. ETF short selling.



Among U.S.-listed ETFs, SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) saw its short interest soar by 50 percentage points since mid-February, now totaling 96% of float. SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) rose 27 points to 111%, while iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) climbed to 33%.



ETFs with the most historically elevated short interest include VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) at 12% of float (100th percentile vs. history, First Trust NASDAQ-100 Tech ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qtec#NASDAQ">QTEC</a>) at 4% (98th percentile), and iShares Core S&amp;P Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJH#NYSE">IJH</a>) with $1 billion shorted (98th percentile).



<h3 class="wp-block-heading">Defensive Sectors Are Under Pressure</h3>



The rise in short interest has been especially acute in defensive sectors. Short interest in consumer staples, utilities, and healthcare sectors now ranks in the top quintile compared to historical norms. The median S&amp;P 500 stock now has a 2.3% short interest relative to market cap, ranking in the 61st percentile over the last 30 years.



Only the financials and information technology sectors show short interest below their long-term averages.



<h3 class="wp-block-heading">Which Stocks Are Being Targeted By The Heaviest Bearish Bets?</h3>



Large-cap stocks that have seen the biggest spikes in short interest since the February peak include:



<ul class="wp-block-list">
<li>Somnigroup International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGI#NYSE">SGI</a>): 13% of float, up 10 percentage points.</li>



<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>): 30% of float, up 8pp. </li>



<li>Amer Sports Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>): 12% of float, up 8pp.</li>



<li>Medpace Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>): 11% of float, up 6pp. </li>



<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>): 18% of float, up 6pp.</li>



<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>): 11% of float, up 5pp. </li>
</ul>



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45530460/trumps-6-trillion-investment-deals-face-reality-check-only-a-fraction-may-reach-the-real-economy">Trump&#8217;s $6 Trillion Investment Deals Face Reality Check: Only A Fraction May Reach The Real Economy </a></li>
</ul>



Image: Shutterstock

Equities

Sector ETFs

Hedge Funds

Econ #s

FSLR

LCID

MEDP

MRNA

QTEC

Hedge Funds Are Building A Towering Wall Of Bets Against Stocks

U.S. equities trading was mixed on Wednesday, with major indices showing limited movement by midday as investors remained cautious amid renewed concerns over fiscal policy, which pressured Treasury <a href="https://www.benzinga.com/government/regulations/25/05/45540541/5-treasury-yields-are-back-and-so-are-painful-mortgage-rates">bonds and the dollar.</a>



The S&amp;P 500 hovered near 5,930, little changed on the day, while the Dow Jones Industrial Average slipped 0.7% amid weakness in blue-chip stocks. In contrast, the Nasdaq 100 advanced 0.5%, led by a 4.6% rally in Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which extended gains following its annual I/O developer conference.



Google unveiled a series of AI initiatives, highlighting that its Gemini assistant now boasts over 400 million monthly active users and delivers AI Overviews to more than 1.5 billion people. The company also touted Gemini 2.5 Pro's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45548615/alphabet-well-positioned-for-google-search-dominance-analyst-says-can-navigate-the-shift-to-ai-search">performance leadership in industry benchmark</a>s.



Bond markets faced renewed selling pressure, with the 30-year Treasury yield surging to 5.02% — the highest in nearly two months — as traders digested the potential fiscal implications of President Donald Trump&#8216;s proposed "One Big Beautiful Bill," which economists say could further worsen the U.S. deficit outlook.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stole the spotlight, surging past its previous record to hit an intraday high of $109,500, buoyed by news that JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) will allow clients to buy Bitcoin, though without offering custody services.



In commodities, oil prices eased 0.6% to $61.50 per barrel after an overnight spike triggered by unconfirmed reports of an Israeli strike on Iranian nuclear facilities. Gold rose 0.5% to $3,310 per ounce, marking its highest level since May 11.



<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>1-day % chg.</td></tr><tr><td>Nasdaq 100</td><td>21,474.58</td><td>0.5%</td></tr><tr><td>S&amp;P 500</td><td>5,936.07</td><td>-0.1%</td></tr><tr><td>Dow Jones</td><td>42,379.01</td><td>-0.7%</td></tr><tr><td>Russell 2000</td><td>2,084.27</td><td>-1.0%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:40 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.2% down to $591.96.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.7% to $423.84.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $522.58.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) sunk 1% to $207.08.</li>



<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.6%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.2%.</li>
</ul>



<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>



<ul class="wp-block-list">
<li>Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) rose 3.3% in reaction to earnings. </li>



<li>Other stocks reacting to earnings included TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>), down 2.33; Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), down 1.23%; Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), down 0.93%; Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), down 4.12%; VF Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>), down 12.04%, FLEX LNG Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLNG#NYSE">FLNG</a>), down 7.27%.</li>



<li>Stocks slated to report earnings after the close include Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>), Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) and Domo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOMO#NASDAQ">DOMO</a>).</li>
</ul>



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45548192/tesla-enters-its-most-bullish-window-this-seasonal-trade-delivered-24-average-gain-over-10-years">Tesla Enters Its Most Bullish Window: This Seasonal Trade Delivered 24% Average Gain Over 10 Years</a> Photo Courtesy: Antonio Gravante via Shutterstock </li>
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Macro Economic Events

Economics

Federal Reserve

$BTC

DOMO

FLNG

KEYS

URBN

Wall Street Stalls As Yields Rise, Bitcoin Breaks Records Above $109,000: What's Driving Markets Wednesday?

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) soared to a new all-time high on Wednesday, crossing $109,000 amid rising investor confidence and renewed momentum in <a href="https://www.benzinga.com/money/bitcoin-price-prediction#:~:text=By%202025%2C%20Bitcoin%20is%20projected,projecting%20prices%20upwards%20of%20%24180%2C000.">the digital asset market</a>.



What Happened: Bitcoin&#8217;s new high of $109,500 on Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), surpasses the previous record set in January, underlining Bitcoin's resilience and growing role in macro portfolios.



The world's largest cryptocurrency has staged a sharp recovery from its April 8 low of $76,320, a day that coincided with a broader downturn in equities driven by fears of a renewed U.S. trade conflict. 



Since then, Bitcoin has rebounded over 40%, bolstered by both technical momentum and a favorable macroeconomic environment.



More than $50 million in short positions were liquidated within a single hour as the rally gathered steam, signaling a wave of forced buying and renewed bullish sentiment. 



The surge in price is accompanied by fundamental strength: over 33,000 BTC were added to short-term holder supply in just the past week, while long-term holders have quietly accumulated nearly half a million BTC since March.



What experts Are Saying: Bitcoin's rise comes at a time when digital assets are increasingly diverging from traditional risk markets.



"This isn&#8217;t just noise—it's conviction," Iliya Kalchev, analyst at Nexo Dispatch told Benzinga. "We're seeing a reshuffling of the supply landscape that supports durable upside rather than a speculative spike."



As global investors reassess their exposure to U.S. equities amid trade tensions and inflation uncertainty, assets like Bitcoin have drawn inflows as potential hedges and alternative stores of value. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45543096/why-donald-trump-including-cardano-in-the-crypto-reserve-suprised-even-the-founder-nice-to-see-progress">Why Donald Trump Including Cardano In The Crypto Reserve Suprised Even The Founder: &#8216;Nice To See Progress&#8217;</a>



Standard Chartered had previously forecast <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45034209/bitcoin-could-hit-120000-in-q2-says-standard-chartereds-geoff-kendrick">a fresh high in Q2</a>, citing increased asset reallocation among institutional players.



While altcoins like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) also posted modest gains of 1–3%, the spotlight remained firmly on Bitcoin. 



Meanwhile, the U.S. Securities and Exchange Commission has postponed decisions on several new exchange-traded fund proposals tied to major altcoins, including XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), DOGE and SOL, delaying the potential next wave of ETF-driven market expansion.



Gadi Chait, Investment Manager at Xapo Bank, emphasized that Bitcoin's current momentum is underpinned by spot market participation. 



"Funding rates on Binance remained negative through early May, and neutral funding yields have compressed sharply," he told Benzinga. "That indicates fresh capital entering without overleveraged froth."



Chait also pointed to a rare convergence of supportive macro and policy factors. "We've got a temporary cooling of U.S.–China tariff escalation, softer inflation prints, and the first real bipartisan tailwind in Washington with the FIT21 bill. 



At the same time, the UK's regulatory framework is nearing final form. All of this creates room for allocators to reenter the market."



What&#8217;s Next: Institutional participation is no longer marginal.



BlackRock's spot Bitcoin ETF IBIT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), recently exceeded $62 billion in assets under management, reinforcing Bitcoin's evolving status as a mainstream investment instrument.



Traders are closely watching the $108,000 support level for confirmation of continued bullish momentum. 



A decisive break higher could propel Bitcoin toward $110,000 in the coming days. 



Macro watchers are also awaiting speeches from Federal Reserve officials and key U.S. economic data later this week for clues on future monetary policy.



Read Next: 



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<li><a href="https://www.benzinga.com/markets/25/05/45534496/altcoin-rotation-is-coming-expert-says-will-eth-xrp-dogecoin-benefit">Altcoin Rotation Is Coming, Expert Says: Will ETH, XRP, Dogecoin Benefit?</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

$ADA

$DOGE

$SOL

$XRP

IBIT

Bitcoin Hits All-Time High Of $109,500: What's Next?

Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) on Wednesday reported mixed results for the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/n45537284/lowes-reports-first-quarter-2025-sales-and-earnings-results" rel="noreferrer noopener">first quarter of fiscal 2025</a>.



The company posted adjusted earnings of $2.92 per share, which beat the <a href="https://www.benzinga.com/earnings">analyst consensus estimate of $2.89</a>.



Revenue for the quarter was down 2% year over year at $20.93 billion, which missed the analyst consensus estimate of $20.94 billion.



Comparable sales fell 1.7%, with early-quarter weather headwinds partially offset by mid-single-digit growth in Pro and online sales.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45233025/lowes-lowdown-analyst-sees-weaker-sales-than-consensus-cites-weather-woes" rel="noreferrer noopener">Lowe&#8217;s Lowdown? Analyst Sees Weaker Sales Than Consensus, Cites Weather Woes</a>



Gross margin expanded 19 basis points to 33.4% while operating income declined to $2.49 billion from $2.65 billion last year. Operating margin narrowed by 50 basis points to 11.9%.



As of May 2, 2025, Lowe&#8217;s operated 1,750 stores, totaling approximately 195.3 million square feet of retail selling space.



&#8220;Despite near-term uncertainty and housing market headwinds, our team&#8217;s unwavering focus on exceptional customer service has elevated satisfaction scores and earned Lowe&#8217;s the No. 1 ranking in Customer Satisfaction among Home Improvement Retailers by J.D. Power,&#8221; said Marvin R. Ellison, Lowe&#8217;s chairman, president, and CEO.



&#8220;Strategic investments in technology, inviting store environments, and our dedicated associates continue to solidify our commitment to serving our customers and communities,&#8221; Ellison added.



The company reported operating cash flow of $3.38 billion for the quarter, down from $4.26 billion a year earlier.



The company reiterated its focus on disciplined capital allocation, highlighted by a $645 million dividend paid this quarter.



Lowe&#8217;s acknowledged tariffs as a potential risk factor but did not provide specific guidance on their impact.



Lowe&#8217;s forecasts 2025 EPS of $12.15–$12.40 versus the $12.23 consensus estimate. Total sales are projected between $83.5 billion and $84.5 billion, compared with analysts&#8217; expectations of $84.31 billion.



Lowe&#8217;s expects an operating margin of 12.3% to 12.4% and plans to spend approximately $2.5 billion on capital expenditures.



Price Action: LOW shares are trading lower by 0.37% to $230.41 at last check Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/news/earnings/25/05/45518559/home-depot-flags-tariff-and-supply-chain-risks-in-risk-statement-but-does-not-revise-outlook" target="_blank" rel="noreferrer noopener">Home Depot Flags Tariff And Supply Chain Risks In Risk Statement But Does Not Revise Outlook</a></li>
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Image via Shutterstock

Lowe's CEO Calls Out Near-Term Housing Market Challenges But Holds The Line On Outlook

I got into the investment business on a steady diet of Graham and Whitman. But that was the 1980s and early 1990s – the golden age of dealmakers and junk bonds, leveraged buyouts and greenmail. 



Long before the players became gentlemanly private equity titans and activist investors, they were raiders, vultures, and even, in one famous book about the RJR deal, barbarians.



Legendary fortunes were made, reputations created and shattered.



All of these high-return, high-flying strategies shared a common thread. Leveraged buyouts, distressed investing and risk arb were all just variations on the value investing theme.



The private equity giants of today are still doing this. Thanks to their quarterly filings, you can copy their investment approach—a strategy that has beaten the markets 4-to-1 since 2001.



Even the creation of the junk bond market was based on Michael Milken&#8217;s studies on the returns from buying undervalued lower-rated bonds, a strategy founded on basic value investing principles.



The big winners in all these strategies took value investing and added debt.



It was like adding nitro to the tank of a stock car. If you could control the vehicle at high speed through the corners, there was no race you couldn&#8217;t win.



Although the golden age of risk arb and the smaller investors&#8217; ability to compete in distressed debt are all behind us, we can still use the combination of debt and value investing to beat the index by a wide margin.



When the 13F filings come out every quarter, most of the short-attention-spans in the market today head for the same filings at the same time.



Warren, Cathie, Stanley, Tepper and Seth still get all the attention.



I may get around to those at some point, but one of the first places I turn is to the leading private equity firms.



Firms like Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) still use basic principles of value investing along with a healthy dose of debt to drive massive returns for themselves and their investors.



What most people do not realize is that these firms also have large public securities portfolios, and stealing their ideas has created some massive market-beating opportunities.



If you had bought shares of Mr. Cooper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) when it first appeared in KKR&#8217;s public portfolio in 2018, you could have made almost ten times your money.



Buying shares of AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) when KKR first revealed its position would have resulted in gains of almost seven times your initial cost.



DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) would have delivered gains of 3x in just a few years.



Owning the firm&#8217;s top ten holdings since 2001 would have beaten the market by a 4-to-1 margin.



I do not care what the media darling investors bought last quarter. Tell me what the profit pirates at KKR own, and I can create an opportunity to score massive gains.



The current top ten holdings for KKR are:



BrightSpring Health Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTSG#NASDAQ">BTSG</a>) provides home and community-based health services to complex patients, positioning itself in a niche with long-term demographic tailwinds. The company is newly public and pursuing scale through both organic growth and targeted acquisitions in behavioral and specialty pharmacy segments.



Henry Schein (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) is a global distributor of dental and medical supplies primarily serving small- and mid-sized practices. The company generates stable cash flow and has a long history of disciplined capital deployment, though growth is modest and sensitive to procedure volume trends.



BrightView (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) is the largest commercial landscaping services provider in the U.S., with recurring maintenance revenue making up the majority of its business. Under new leadership, the firm is undergoing a restructuring push to improve margins and reduce debt after years of underperformance.



KKR Real Estate Finance Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is a commercial mortgage REIT focused on senior loans backed by institutional-grade real estate, primarily in urban markets. It offers a high dividend yield but remains exposed to office market weakness and refinancing risk in a higher-rate environment.



Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>) owns marquee sports franchises, including the New York Knicks and Rangers, offering investors a rare asset-backed play on professional sports. Valuation is driven more by franchise appreciation than earnings power, making it a long-duration, event-driven asset.



Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) is a leading cruise operator with a strong focus on premium and upscale offerings across its brand portfolio. The company is rebounding from pandemic-era disruptions, though it still carries significant leverage and remains sensitive to fuel and labor costs.



Bausch Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) is a diversified specialty pharmaceutical company with exposure to eye health, dermatology, and branded generics. However, the company is still burdened by high legacy debt. While it&#8217;s pursuing a turnaround strategy and asset divestitures, legal overhangs and weak cash flow remain headwinds.



FS KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSK#NYSE">FSK</a>) is one of the largest business development companies, focused on senior secured lending to middle-market companies with an emphasis on downside protection. It offers a double-digit yield and strong sponsor backing, though credit quality and NAV stability require close monitoring.



Crescent Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSGY#NYSE">CSGY</a>) is a cash-generating E&amp;P company with a private equity-backed structure and a focus on acquiring and optimizing mature, low-decline assets. The firm maintains a disciplined capital return framework and hedging strategy, making it a defensive upstream play with yield upside.



BridgeBio Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) is a commercial-stage biopharmaceutical company developing treatments for genetic diseases and cancers with clear genetic drivers. Its lead drug, Attruby (acoramidis), approved in late 2024 for transthyretin amyloid cardiomyopathy, significantly outperformed sales expectations in its first full quarter, positioning the company as a strong competitor in the cardiomyopathy treatment market.



<h2 class="wp-block-heading">Turn Market Mayhem Into Profit Signals This Memorial Day</h2>



Get real-time portfolio alerts, daily stock ideas, and a suite of pro-grade tools — all in one elite membership. For a limited time, you can access Benzinga Edge at 60% off. Secure Your 60% Memorial Day Discount <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-memorial-day-special/?utm_campaign=mdw-sale&amp;utm_adType=sponsorad&amp;utm_ad=RD052025/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

BBIO

BTSG

COOP

DASH

HSIC

KREF

MSGS

NCLH

CSGY

The Smart Money Is Buying These 10 Stocks

TJX Companies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) shares&nbsp;are trading lower premarket on Wednesday&nbsp;after the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/b45538836/the-tjx-companies-inc-reports-q1-fy26-results-comp-sales-growth-of-3-pretax-profit-margin-of-10-3-" rel="noreferrer noopener">first-quarter&nbsp;FY26 earnings result</a>.



Sales rose 5% year-over-year (Y/Y)&nbsp;to&nbsp;$13.1 billion, beating the analyst consensus estimate of&nbsp;$13.0 billion.



Overall&nbsp;comp store sales increased&nbsp;3% (Y/Y), at the high end of the company's plan, and were driven by an increase in customer transactions.



Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45524193/tjx-companies-q1-preview-report-could-reflect-durable-earnings-growth" target="_blank" rel="noreferrer noopener">TJX Companies Q1 Preview: Report Could Reflect Durable Earnings Growth</a>



Gross&nbsp;profit margin was&nbsp;29.5%, a 0.5&nbsp;percentage point decrease versus the prior year, due to negative mark-to-market adjustments on inventory hedges.



Ernie Herrman, president and CEO said, &#8221;All divisions, both in the U.S. and internationally, drove increases in comp sales and customer transactions, which underscores the strength of our value proposition.&#8221;



Adjusted EPS of&nbsp;92 cents beat the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus&nbsp;estimate of&nbsp;90 cents</a>.



The&nbsp;company held&nbsp;$4.3 billion&nbsp;in cash and equivalents&nbsp;as of May 3 and generated&nbsp;$394&nbsp;billion&nbsp;of operating cash flow in the quarter.



As of May 3, total inventories stood at $7.1 billion, compared to&nbsp;$6.2&nbsp;billion&nbsp;last year.



During the first quarter, the company returned a total of $1.0 billion to shareholders, including the repurchase of shares worth $613 million.



The company continues to expect share repurchases of approximately $2.0 billion to $2.5 billion in fiscal 2026.



Outlook: TJX&nbsp;reaffirmed guidance for FY26 comparable sales growth of&nbsp;2%&nbsp;–&nbsp;3% and EPS of&nbsp;$4.34-$4.43&nbsp;<a href="https://www.benzinga.com//node/43976995" target="_blank" rel="noreferrer noopener">against a&nbsp;$4.49&nbsp;estimate</a>.



The company sees&nbsp;second quarter comparable sales growth of&nbsp;2%&nbsp;–&nbsp;3%&nbsp;and&nbsp;EPS of&nbsp;$0.97-$1.00&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">with an estimate of&nbsp;$1.03</a>.



TJX&#8217;s second-quarter and FY26 guidance assumes current U.S. import tariffs from China and other nations, as of Wednesday, will persist.



Furthermore, for the full-year FY26, the company expects to fully offset the significant and ongoing tariff-related financial pressures.



Investors can gain exposure to the stock via&nbsp;VanEck Retail ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTH#NASDAQ">RTH</a>) and iShares U.S. Consumer Focused ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEDI#BATS">IEDI</a>).



Price Action:&nbsp;TJX shares are down 1.88% at $132.39 premarket at the last check on Wednesday.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45537307/us-stocks-likely-to-open-lower-expert-says-tariffs-remain-a-headwind-but-tax-cut-and-easing-of-tensions-in-middle-east-could-propel-equities-closer-to-all-time-highs" target="_blank" rel="noreferrer noopener">US Stocks Likely To Open Lower, Expert Says &#8216;Tariffs Remain A Headwind,&#8217; But &#8216;Tax Cut&#8217; And &#8216;Easing Of Tensions&#8217; In Middle East &#8216;Could Propel Equities Closer To All-Time Highs&#8217;</a></li>
</ul>



Photo: Shutterstock

IEDI

TJX Boosts Q1 Sales With More Shoppers, Says Tariffs Won't Hurt 2026 Outlook

Editor's Note: This article has been updated to reflect the accurate yields for the 2-year and 10-year Treasury bonds.



U.S. stock futures dipped on Wednesday after ending lower on Tuesday. Futures of major benchmark indices were trading lower in premarket.



The S&amp;P 500 index snapped its six-day winning streak on Tuesday, which was followed by the U.S.-China 90-day tariff truce.



Donald Trump&#8216;s &#8216;<a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">One Big, Beautiful Bill</a>&#8216; was the center of discussion among experts as the Congressional Budget Office released its estimates for the distributional effects of the Act.



It estimated a 4% drop in the household incomes of the lower decile of Americans by 2033 and a 2% rise in the income of the highest decile.



Meanwhile, the 10-year Treasury bond yielded 4.53% and the two-year bond was at 3.9%. 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 94.6% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.65%</td></tr><tr><td>S&amp;P 500</td><td>-0.60%</td></tr><tr><td>Nasdaq 100</td><td>-0.61%</td></tr><tr><td>Russell 2000</td><td>-0.86%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Wednesday. The SPY was down 0.58% to $589.40, while the QQQ declined 0.65% to $516.91, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



On Tuesday, most S&amp;P 500 sectors closed lower, with energy, consumer discretionary, and communication services stocks seeing the steepest declines.



In contrast, utilities and healthcare stocks moved higher, defying the broader market trend.



Meanwhile, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock edged up after CEO Elon Musk reaffirmed his five-year commitment to the company. Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) reported better-than-expected first-quarter sales but missed EPS estimates. Amer Sports Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) also posted strong first-quarter results.



Economically, the U.S. Redbook Index increased 5.4% year-over-year for the week ending May 17.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.38%</td><td>19,142.72</td></tr><tr><td>S&amp;P 500</td><td>-0.39%</td><td>5,940.46</td></tr><tr><td>Dow Jones</td><td>-0.27%</td><td>42,677.24</td></tr><tr><td>Russell 2000</td><td>0.054%</td><td>2,105.58</td></tr></tbody></table></figure>



Insights From Analysts:



Senior economist at WisdomTree, Jeremy Siegel, said that he was &#8220;clear-eyed&#8221; about the tariff impact.



&#8220;These tariffs aren't good for the market. Stocks would be higher without them, but the market's current pricing suggests it can absorb the expected hit at current rates.&#8221;



While there was criticism around the One Big, Beautiful Bill on proposed tax cuts, Siegel said, &#8220;While tariffs remain a headwind, the tax cut and a potential easing of tensions in the Middle East could propel equities closer to all-time highs.&#8221;



Meanwhile, quoting the <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office">CBO estimates</a>, Craig Shapiro of the Bear Traps Report, said, the new Bill will &#8220;explode the deficit while enriching the highest decile of Americans at the expense of the lowest decile.&#8221; 



&#8220;Another opportunity squandered and further proof that the Republican Party continues to cater to the wealthiest Americans time and time again,&#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">Nice job by the Admin and House Republicans getting ready to try to pass a &quot;Big Beautiful Bill&quot; that will explode the deficit while enriching the highest decile of Americans at the expense of the lowest decile. Another opportunity squandered and further proof that the… <a href="https://t.co/66cJwNwE8m">https://t.co/66cJwNwE8m</a>&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1925005561180942458?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Economist Peter Schiff was also not enamoured by the Bill as he stated that the tax cuts just boost GDP at the "expense of larger budget and trade deficits and higher inflation, and long-term interest rates."



<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">Tax cuts that boost spending on consumer goods rather than promote higher savings, capital investment, and increased productivity, do not grow the economy. They merely boost GDP at the expense of larger budget and trade deficits and higher inflation and long-term interest rates.&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1924968734491373978?ref_src=twsrc%5Etfw">May 20, 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/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul class="wp-block-list">
<li>Richmond Fed President Tom Barkin and Fed Governor Michelle Bowman will take part in the &#8216;Fed Listens&#8217; event at 12:15 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) was 0.37% lower in premarket on Wednesday as analysts expect it to report quarterly earnings of $1.65 per share on revenue of $24.32 billion, before the opening bell.</li>



<li>Lowe&#8217;s Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) declined 0.28% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $2.88 per share on revenue of $20.96 billion.</li>



<li>TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) fell 0.69% as analysts expect it to report quarterly earnings of 90 cents per share on revenue of $12.99 billion, before the opening bell.</li>



<li>VF Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) was up 0.14% as Wall Street expects it to report earnings before the opening bell. It is expected to post a quarterly earnings loss of 14 cents per share on revenue of $2.17 billion.</li>



<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) dropped 3.85% despite posting better-than-expected earnings for its third quarter and raising its full-year 2025 guidance on Tuesday.</li>



<li>Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) jumped 5.88% after posting stronger-than-expected earnings and sales results for the second quarter.</li>



<li>CFSB Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFSB#NASDAQ">CFSB</a>) surged 67.89% as it announced that Hometown Financial Group will acquire the company for a total transaction value of approximately $44 million.</li>



<li>Accenture PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) was up 0.41% after collaborating with Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to accelerate enterprise AI transformation with AI refinery.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.72% to hover around $63.10 per barrel.



Gold Spot US Dollar rose 0.55% to hover around $3,308.30 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.39% at the 99.7300 level.



Asian markets were mixed on Tuesday as South Korea's Kospi and India's S&amp;P BSE Sensex index declined. Japan's Nikkei 225 was flat, and Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices advanced. European markets were higher in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">Big Beautiful Bill Will &#8216;Explode The Deficit,&#8217; And Make The Rich Richer: Congressional Budget Office Estimates 4% Income Fall For Lowest Decile Of Americans By 2033 </a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Futures

Pre-Market Outlook

Markets

CFSB

DELL

PANW

TSLA

US Stocks Likely To Open Lower, Expert Says 'Tariffs Remain A Headwind,' But 'Tax Cut' And 'Easing Of Tensions' In Middle East 'Could Propel Equities Closer To All-Time Highs' (CORRECTED)

Despite the overvalued nature of the stock based on its price-to-earnings metric, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s CEO, Elon Musk, has defended the company&#8217;s growth, citing its stock prices, shrugging off the fundamental worries surrounding the carmaker as highlighted by experts.



What Happened: During the Qatar Economic Forum on Monday, Musk highlighted that Tesla&#8217;s share price was the measure of its business&#8217;s success. 



&#8220;You can just look at the stock price if you want the best inside information,&#8221; he said as per <a href="https://finance.yahoo.com/news/elon-musk-tells-investors-teslas-stock-price-shows-company-is-in-a-good-place-dont-worry-about-it-143940828.html">a</a> Yahoo Finance report.



&#8220;The stock market analysts have that, and a stock wouldn&#8217;t be trading near all-time highs if it was not, if things weren&#8217;t in good shape. They&#8217;re fine, don&#8217;t worry about it.&#8221;



According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Tesla shares are trading at a price nearly 158.730 times its 2026 earnings. At the same time, the average forward price-to-earnings of its peers stood at 25.75 times, implying that Tesla was 6.16 times more expensive than its industry's average.



However, Gordon Johnson, the CEO and founder of GLJ Research, countered Musk&#8217;s statement with examples. In an X post, he highlighted that &#8220;If: high stock price = good underlying business fundamentals, then WorldComm + HealthSouth + Enron + Tyco + etc. would never have gone bankrupt.&#8221;



He explained that the stock prices were simply a reflection of a stock&#8217;s demand, which could be influenced by factors like CEO comments and pump-and-dump Wall Street analysts.



Taking a dig at the Federal Reserve and Treasury Secretary Scott Bessent, Johnson further stated that the Fed&#8217;s purchase of Treasuries by printing money was also a reason for the artificially created demand for stocks.



&#8220;Were the Federal Reserve to immediately pull out all the money it printed into existence from COVID, we&#8217;d QUICKLY have REAL price discovery in stocks,&#8221; he warned.



<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">I was going to comment on this&#8230; but <a href="https://twitter.com/FredericLambert?ref_src=twsrc%5Etfw">@FredericLambert</a> NAILS it. If: high stock price = good underlying business fundamentals, then WorldComm + HealthSouth + Enron + Tyco + etc. would never have gone bankrupt. Stock price simply = demand for the stock (and demand for a stock can… <a href="https://t.co/LmKs67YUH1">https://t.co/LmKs67YUH1</a>&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1924865321078276238?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As of the <a href="https://www.benzinga.com/25/04/44937440/tesla-q1-earnings-highlights-revenue-miss-eps-miss-tariff-landscape-and-changing-political-sentiment-cloud-guidance">first quarter,</a> Tesla&#8217;s revenue fell 9% year-over-year to $19.34 billion, missing the Street&#8217;s consensus estimate of $21.35 billion, and its EPS declined 40% year-over-year to 27 cents, which was below the 31 cents consensus.



See Also: <a href="https://www.benzinga.com/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi">Charlie Munger Once Said, &#8216;The First Rule Of Compounding Is To Never Interrupt It Unnecessarily&#8217; — Now His Wisdom Rings True As The S&amp;P 500 Surges 220% Over 10 Years</a>



Why It Matters: When compared to a few of its industry peers, Tesla had the highest trailing P/E ratio among them.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Stocks</td><td>Trailing P/E</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td><td>196.469</td></tr><tr><td>Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>)</td><td>0.05</td></tr><tr><td>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)</td><td>6.96</td></tr><tr><td>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</td><td>8.54</td></tr><tr><td>Honda Motor Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>)</td><td>0.06</td></tr></tbody></table></figure>



However, when compared to the forward P/E ratios of the Magnificent 7 stocks, Tesla shares remain the most expensive with the highest ratio of forward price-to-earnings in comparison with its industry average.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Stocks</td><td>Forward P/E</td><td>Industry Average</td></tr><tr><td>Tesla Inc. </td><td>158.73</td><td>25.75</td></tr><tr><td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>31.153</td><td>37.03</td></tr><tr><td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td><td>28.818</td><td>20.23</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td><td>30.488</td><td>81.74</td></tr><tr><td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td><td>31.646</td><td>32.14</td></tr><tr><td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td><td>17.575</td><td>125.77</td></tr><tr><td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td><td>25.189</td><td>125.77</td></tr></tbody></table></figure>



TSLA shares were down 9.35% year-to-date, but it has returned by 51.13% just in the last month. The shares were up 84.26% over the year. On Tuesday, it ended 0.51% lower and advanced 0.015% in after-hours and on Wednesday, it was up 0.46%.



Benzinga Edge Stock Rankings shows that Tesla had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid, however, its value ranking was poor at the 8.57th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>. 



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="143" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21034750/EDGE-TESLA-1024x143.png" alt="" class="wp-image-922346" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21034750/EDGE-TESLA-1024x143.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21034750/EDGE-TESLA-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21034750/EDGE-TESLA-768x107.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21034750/EDGE-TESLA.png 1224w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Wednesday. The SPY was down 0.70% to $588.69, while the QQQ declined 0.76% to $516.31, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45515900/mstrs-new-bitcoin-accounting-standard-to-drive-financial-swings-make-earnings-volatile-says-expert-after-lawsuit-hits-strategy">MSTR&#8217;s New Bitcoin Accounting Standard To Drive &#8216;Financial Swings,&#8217; Make Earnings &#8216;Volatile,&#8217; Says Expert After Lawsuit Hits Strategy</a></li>
</ul>



Image Via Shutterstock

General

AAPL

AMZN

MSFT

Tesla Is 6X More Expensive Than Its Peers And The Most Overvalued Mag 7 Stock: Gordon Johnson Questions Fundamentals As Elon Musk Shrugs Off Concerns

The Future Fund LLC  managing partner, Gary Black and a long-term Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull, is challenging conventional wisdom among Tesla investors regarding the future of autonomous ride-hailing and Uber Technologies Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) position in the market.



What Happened: Black drew a compelling parallel between Uber&#8217;s potential shift to driverless vehicles and Netflix Inc.&#8216;s strategic pivot in 2007. 



In a post on X, Black wrote, &#8220;The best analogy to Uber is Netflix, which disrupted its own DVD delivery business in 2007 to embrace streaming &#8211; just as Uber will disrupt its own ride-hailing business to go driverless,&#8221; Black added. &#8220;Many Tesla faithful are missing this.&#8221;



Black has previously argued that ride-sharing companies like Uber and Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) stand to benefit significantly from autonomous technology, claiming that driverless operations could <a href="https://www.benzinga.com/25/05/45339797/gary-black-doubles-down-on-ubers-autonomy-upside-reflects-on-tesla-debates-i-was-right-on-volume-pr-and-robotaxis">reduce costs from $2 per mile to $1 per mile</a>. He emphasized that Uber&#8217;s existing network of 24 million active riders gives it a substantial competitive advantage.



<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 best analogy to <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> is <a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a>, which disrupted its own DVD delivery business in 2007 to embrace streaming &#8211; just as <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> will disrupt its own ride-hailing business to go driverless. Many <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> faithful are missing this. <a href="https://t.co/Cy3cpQOhsA">pic.twitter.com/Cy3cpQOhsA</a>&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1925083607300706577?ref_src=twsrc%5Etfw">May 21, 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/markets/equities/25/05/45536259/palantir-partners-with-sap-to-fuse-ontology-foundry-and-enterprise-dataceo-alex-karp-calls-it-extremely-valuable">Palantir Partners With SAP To Fuse Ontology, Foundry And Enterprise Data: CEO Alex Karp Calls It &#8216;Extremely Valuable&#8217;</a>



Why It Matters: Despite being a Tesla investor with a <a href="https://www.benzinga.com/25/05/45354683/tesla-probably-wont-make-money-on-ride-hailing-for-years-gary-black-says">$310 price target on the stock</a>, Black has become increasingly critical of certain Tesla narratives. He has challenged Tesla CEO Elon Musk&#8216;s <a href="https://www.benzinga.com/25/05/45339797/gary-black-doubles-down-on-ubers-autonomy-upside-reflects-on-tesla-debates-i-was-right-on-volume-pr-and-robotaxis">20 million vehicle delivery target for 2030</a>, with Wall Street consensus now closer to 3.9 million units.



Black warns that Tesla &#8220;can&#8217;t just create a network of 24M active riders&#8221; overnight and that <a href="https://www.benzinga.com/25/05/45283323/gary-black-thinks-uber-could-have-an-advantage-over-elon-musk-and-tesla-in-the-robotaxi-race">competition among multiple players in the driverless ride-hailing market</a> could mean Tesla &#8220;may not make money on ride-hailing for years.&#8221;



Read Next:



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<li><a href="https://www.benzinga.com/markets/25/05/45536218/walmart-responds-to-trumps-eat-the-tariff-remark-worked-to-keep-our-prices-as-low-as-possible-and-we-wont-stop">Walmart Responds To Trump&#8217;s &#8216;Eat The Tariff&#8217; Remark: &#8216;&#8230;Worked To Keep Our Prices As Low As Possible And We Won&#8217;t Stop&#8217;</a></li>
</ul>



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



Image Via Shutterstock

LYFT

UBER

Gary Black Compares Uber's Shift To Driverless Cars With Netflix's 2007 Move From DVDs To Streaming, Says Tesla 'Faithful' Are Missing The Bigger Picture

Alphabet&#8216;s 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>) revamps its search engine by introducing an AI chatbot-style feature, aiming to stay ahead of competitors like OpenAI.



What Happened: Google has introduced an &#8220;AI mode&#8221; in its search and Chrome browser for all U.S. users from Tuesday. This new feature will offer a conversational, question-and-answer experience, similar to OpenAI's ChatGPT, rather than the traditional list of links, <a href="https://www.ft.com/content/b9d13cc7-f0f0-4d0d-9dfd-7d387ac2cdf9">reported</a> the Financial Times.



The announcement was made by&nbsp;Sundar Pichai, CEO of Google&#8217;s parent company, Alphabet,&nbsp;during its annual I/O developer&nbsp;conference in Mountain View, California. Pichai&nbsp;labelled the move as a&nbsp;&#8220;total reimagining of search.&#8221;



This release is part of Google&#8217;s ongoing efforts to incorporate generative AI into its dominant search engine, despite investor concerns that the new products may cannibalize its current revenue streams. The &#8220;AI Mode&#8221; follows last year&#8217;s introduction of &#8220;AI Overviews&#8221; at the I/O conference.



Among other things, Google showcased new products, including smart glasses and introduced an "AI Ultra Plan" costing $249.99 per month. The plan offers higher AI usage limits and early access to experimental tools like Project Mariner, which automates browser actions and Deep Think, an advanced version of Gemini designed for complex reasoning tasks, as reported by Reuters.



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage" target="_blank" rel="noreferrer noopener">Senate Crypto Bill Passes Key Vote, GENIUS Act Moves Toward Final Passage &#8211; Benzinga</a>



Why It Matters: The revamp of Google&#8217;s search engine comes at a crucial time for the company. Google, <a href="https://www.benzinga.com/markets/25/05/45509746/google-i-o-2025-a-big-deal-says-gene-munster-sundar-pichais-alphabet-has-no-choice-but-to-disrupt-itself-before-someone-else-does">criticized for lagging</a> in AI development while rivals like OpenAI and Anthropic gained ground, has accelerated its rollout of new tools. It has upgraded its Gemini model—claiming the 2.5 version outperforms competitors in key benchmarks, especially in coding—and plans to launch its AI assistant, Project Mariner, this summer. 



The assistant can perform complex tasks by controlling users' browsers and software. However, growing concerns about privacy remain as AI models begin incorporating long-term memory. 



Google&#8217;s CEO, Sundar Pichai, has also been in <a href="https://www.benzinga.com/news/legal/25/05/45128130/google-aims-for-gemini-ai-deal-with-apple-this-year-says-sundar-pichai-amid-dojs-bid-to-curb-search-monopoly">talks </a>with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to integrate the company&#8217;s Gemini AI into iPhones, as federal regulators work to curb Google&#8217;s dominance in online search. However, as AI development charges on, tech&nbsp;experts have raised concerns over&nbsp;safety taking a backseat to profit potential.



Benzinga Edge Stock Rankings shows that Alphabet had a stronger price trend over the short term but a weaker trend over the medium and long term. Its momentum ranking was moderate at the 35th percentile, whereas its growth ranking was strong at the 89th percentile; the details of other metrics are available <a href="https://www.benzinga.com/quote/GOOG">here</a>.



The shares of Alphabet dropped 1.52% to $165.32, while on a year-to-date basis, it dropped 13.28%.



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<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/25/05/45535070/panama-moves-to-legalize-bitcoin-nationwide-as-trumps-pro-crypto-policies-fuel-global-adoption" target="_blank" rel="noreferrer noopener">Panama Moves To Legalize Bitcoin Nationwide As Trump&#8217;s Pro-Crypto Policies Fuel Global Adoption &#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.

Google Unveils 'Total Reimagining Of Search' With Chatbot-Style Feature To Compete With OpenAI

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Tuesday.



U.S. stocks settled lower on Tuesday, with the Dow Jones index falling more than 100 points during the session. The S&amp;P 500 also snapped a six-session winning streak.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock edged higher on Tuesday after CEO Elon Musk, speaking at the Qatar Economic Forum, said he remains committed to leading the company for the next five years.



Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) reported stronger-than-expected first-quarter sales results and reaffirmed its full-year outlook. Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) reported better-than-expected first-quarter FY25 results.



On the economic data front, the U.S. Redbook Index rose by 5.4% year-over-year in the week ending May 17.



Most sectors on the S&amp;P 500 closed on a negative note, with energy, consumer discretionary, and communication services stocks recording the biggest losses on Tuesday. However, utilities and health care stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 115 points to 42,677.24 on Tuesday. The S&amp;P 500 fell 0.39% to 5,940.46, while the Nasdaq Composite declined 0.38% to 19,142.71 during Tuesday's session.



Investors are awaiting earnings results from Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), and The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 69.2, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 69.4.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



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</ul>



Photo courtesy: Shutterstock

S&P 500 Snaps 6-Session Winning Streak: Investor Sentiment Edges Lower, But Fear Index Remains In 'Greed' Zone

China has threatened legal action against any individual or organization assisting with or implementing U.S. semiconductor restrictions, escalating tensions in the ongoing tech rivalry between the world&#8217;s two largest economies.



What Happened: China&#8217;s commerce ministry said there could be &#8220;corresponding legal liabilities&#8221; for those involved in U.S. measures it characterized as &#8220;discriminatory restrictive measures&#8221; against Chinese firms, Reuters reported. 



The warning comes after the U.S. published guidance last week cautioning companies against using Ascend AI chips from Huawei Technologies.



The dispute highlights growing friction as both nations compete for dominance in advanced technology. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang recently criticized U.S. chip export controls as &#8220;exactly wrong for America,&#8221; revealing his company wrote off $5.5 billion in inventory and lost <a href="https://www.benzinga.com/25/05/45513246/nvidia-ceo-jensen-huang-says-chinese-ai-researchers-are-world-class-and-us-companies-are-hiring-a-whole-bunch-of-them">approximately $15 billion in sales</a> due to these restrictions.



&#8220;China&#8217;s doing fantastic, 50% of the world&#8217;s AI researchers are Chinese and you&#8217;re not going to hold them back,&#8221; Huang said at Computex 2025, arguing American companies should be allowed to compete in China to &#8220;offset the trade deficit.&#8221;



See Also: <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">L3Harris Stock Moves Higher After Being Named In &#8216;Golden Dome&#8217; Missile Defense System</a>



Why It Matters: The technology standoff has intensified since April, when China imposed retaliatory tariffs up to 125% on U.S.-made chips, while <a href="https://www.benzinga.com/25/04/44770461/intel-on-slump-as-china-hits-us-made-chips-with-tariffs-amd-and-taiwan-semiconductor-rise-on-exemption-boost">exempting Taiwan-manufactured semiconductor</a>s. This policy benefits companies like Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) that outsource to Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), while potentially harming U.S.-based fabricators like Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).



Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates recently noted that export bans have <a href="https://www.benzinga.com/news/25/05/45342962/bill-gates-slams-trumps-tariffs-we-told-china-to-make-their-own-chips-and-theyre-making-great-progress-warns-its-a-bad-time-to-inte">only accelerated China&#8217;s self-reliance efforts</a>. &#8220;We made clear to them that they needed to make their own chips, and they&#8217;re making great progress on doing that,&#8221; Gates told CNN.



China&#8217;s ministry urged the U.S. to &#8220;abide by international economic and trade rules&#8221; and respect other countries&#8217; technological development rights.



Image Via Shutterstock



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<li><a href="https://www.benzinga.com/25/05/45529030/elon-musk-confirms-tesla-robotaxi-launch-is-on-track-for-next-month-these-things-happen-slowly-but-then-all-at-once">Elon Musk Expects Tesla Robotaxi Launch For June: &#8216;These Things Happen Slowly, Then All At Once&#8217;</a></li>
</ul>



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

INTC

QCOM

China Warns Of Legal Retaliation Against US Chip Sanctions, Threatens Lawsuits For Aiding 'Discriminatory' Tech Crackdown

On Tuesday, Cathie Wood-led Ark Invest made notable trades, prominently acquiring shares of Taiwan Semiconductor Manufacturing Co. Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). This strategic move involved significant purchases across multiple Ark ETFs, reflecting a strong belief in TSMC&#8217;s future potential.



The TSM Trade: Ark Invest&#8217;s acquisition of TSMC shares on Tuesday was substantial, with the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) purchasing 27,099 shares and the ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) acquiring 16,172 shares. On Tuesday, Taiwan Semiconductor stock was largely unmoved at $193.45. The Ark trades were valued at $8.4 million. Earlier, on Monday, Ark had <a href="https://www.benzinga.com/25/05/45509626/cathie-woods-monday-moves-ark-bets-on-nvidia-supplier-tsmc-sells-6-5-million-of-mark-zuckerbergs-meta-shares">picked up $3.83 million worth</a> of TSMC stock.



TSMC&#8217;s <a href="https://www.benzinga.com/media/25/05/45515826/taiwan-semiconductor-qualcomm-mediatek-team-up-to-power-next-gen-mobile-and-ai-chips">ongoing collaborations</a> with Qualcomm and other original design manufacturers in Taiwan further highlight its pivotal role in advancing next-generation mobile and AI chips. Qualcomm&#8217;s chief, Cristiano Amon, emphasized the importance of TSMC in their supply chain ahead of the Computex trade show. This partnership is expected to solidify TSMC&#8217;s position as a leader in the semiconductor industry.



Other Key Trades:



<ul class="wp-block-list">
<li>Sold 1,300 shares of UiPath Inc. (PATH) from the ARK Fintech Innovation ETF (ARKF).</li>



<li>Bought 84,478 shares of Nextdoor Holdings Inc (KIND) through the ARK Next Generation Internet ETF (ARKW).</li>



<li>Acquired 839 shares of Blade Air Mobility Inc (BLDE) via the ARK Space Exploration &amp; Innovation ETF (ARKX).</li>
</ul>



TSMC ranks 82nd in Momentum and also on Growth, according to Benzinga Edge Stock Rankings. For a fuller analysis of the stock, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="797" height="99" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41.png" alt="" class="wp-image-922020" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41.png 797w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41-300x37.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41-768x95.png 768w" sizes="(max-width: 797px) 100vw, 797px" /></a></figure>



Photo Courtesy: Ira Lichi On Shutterstock.com



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</ul>



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

ARKK

ARKW

Cathie Wood Just Spent $8.4 Million On This Top Chip Stock (And It's Not NVIDIA)

On Tuesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk found himself in a heated discussion with CNBC's David Faber regarding his involvement in federal spending cuts under President Donald Trump&#8217;s administration.



What Happened: The conversation, part of CNBC&#8217;s &#8220;Power Lunch,&#8221; initially centered on Tesla and autonomous vehicles but soon shifted to Musk&#8217;s role with the Department of Government Efficiency, <a href="https://thehill.com/policy/technology/5310122-elon-musk-tensions-cnbc-interview/">reported</a> The Hill.



Faber questioned Musk about the tangible impact of DOGE&#8217;s cost-cutting efforts, highlighting the criticism Musk has faced.



Musk responded, &#8220;We are advisers. We are not—we're not kings here.&#8221;



See Also: <a href="https://www.benzinga.com/tech/25/05/45510245/elon-musk-was-once-a-microsoft-intern-now-his-company-is-bringing-grok-to-azure-incredibly-important-for-ai-to-be-grounded-in-reality-xai-ceo-tells-satya-nadella">Elon Musk Was Once A Microsoft Intern — Now His Company Is Bringing Grok To Azure: &#8216;Incredibly Important For AI To Be Grounded In Reality,&#8217; xAI CEO Tells Satya Nadella</a>



The tech mogul then interrupted Faber, saying, &#8220;So why are you attacking this? Given that we've made so much progress?&#8221;



Faber then said that he was simply asking questions, not attacking. The exchange began when Faber mentioned Musk&#8217;s initial goal of cutting $1 trillion in federal spending, which Musk admitted was not immediately feasible, the report said.



Musk said that DOGE has managed to cut nearly $160 billion in spending, though Faber noted discrepancies in reported figures. Musk explained the methodology behind the numbers, while Faber suggested alternative budget strategies.



Why It Matters: Musk&#8217;s involvement with DOGE has been a topic of debate since his appointment. Despite efforts to cut costs, <a href="https://www.benzinga.com/25/04/44778750/musks-government-efficiency-push-falls-short-as-treasury-data-shows-spending-up-sharply-under-trumps-second-term-report">federal spending has reportedly increased</a> by $154 billion since President Trump&#8217;s return to office, according to Treasury data.



Earlier this month, Musk shared mixed sentiments about his first 100 days in office, noting some progress within the DOGE while also <a href="https://benzinga.com/markets/25/05/45163408/doge-not-as-effective-as-id-like-says-elon-musk-calls-reform-really-difficult-like-changing-direction-of-a-fleet-of-supertankers">recognizing its limitations</a>. &#8220;We haven't been as effective as I'd like.&#8221;



Last month, during <a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track">Tesla's first quarter earnings</a> call, Musk announced <a href="https://www.benzinga.com/25/05/45381782/elon-musk-vows-to-spend-less-time-in-white-house-doge-office-investors-warn-the-damage-is-done-and-teslas-troubles-are-far-from-over">plans to reduce his time at DOGE</a>. This decision comes amid investor concerns that his political role has distracted from Tesla&#8217;s core operations.



Price Action: Tesla shares edged up 0.51% on Tuesday, ending the session at $343.82. The stock saw a marginal after-hours gain of 0.015%, based on <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.



According to Benzinga Edge Stock Rankings, Tesla holds a growth score of 45.44%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to compare it with other leading stocks</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="438" height="277" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05.png" alt="" class="wp-image-922066" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05.png 438w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05-300x190.png 300w" sizes="(max-width: 438px) 100vw, 438px" /></a></figure>



Shutterstock/Joshua Sukoff



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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>



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

Government

Media

Elon Musk Just Got Grilled On DOGE Spending,  Hits Back With 'We're Not Kings Here'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) plans to launch its robotaxis in Austin, Texas in June, according <a href="https://www.benzinga.com/topic/elon-musk">to CEO Elon Musk</a>.



What To Know: Musk, in an interview aired on Tuesday&#8217;s edition of CNBC&#8217;s &#8220;Power Lunch,&#8221; explained that the robotaxi rollout will start small and ramp up to hundreds of thousands of vehicles as soon as next year.



&#8220;We want to be very careful with the first introduction of unsupervised full self-driving, meaning the car&#8217;s driving around with no one in it,&#8221; Musk said.



Musk expects about 10 vehicles on the roads in the first week, about 1,000 driverless vehicles on the roads within a few months, and hundreds of thousands of vehicles capable of unsupervised full self-driving on the roads by the end of next year, &#8220;if not over a million.&#8221;



When CNBC&#8217;s David Faber asked why Musk is so confident, the CEO said Tesla vehicles are already driving themselves 24/7 with drivers in them, and the company has seen &#8220;essentially no interventions.&#8221;



Musk said that the company expects to unveil a business model for full self-driving similar to Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), where Tesla owners can rent out their vehicles when they aren&#8217;t using them.



&#8220;It&#8217;s a way for Tesla owners to earn revenue. Instead of having your car sit in the parking lot, your car could be earning money,&#8221; Musk said. &#8220;These things happen slowly, but then all at once.&#8221;



See Also: <a href="https://www.benzinga.com/markets/25/05/45516240/tesla-cfo-vaibhav-taneja-receives-record-139-million-pay-surpassing-most-ceos-even-as-elon-musk-faces-compensation-lawsuit">Tesla CFO Vaibhav Taneja Receives Record $139 Million Pay, Surpassing Most CEOs</a>



Why It Matters: Tesla bears have raised concerns about the company&#8217;s first-quarter performance, pointing to a&nbsp;9% year-over-year decrease in sales as automotive revenue dropped 20%. 



Musk also told CNBC that the company has seen a &#8220;major rebound in demand&#8221; since the first quarter.



Production numbers were also well below those of the same period last year, but shares moved higher following the report as Musk announced plans to reduce time spent working on government initiatives and provided optimistic commentary around full self-driving and the company&#8217;s humanoid Optimus bots. Musk reiterated that vision on Tuesday.



&#8220;Really the only things that matter long term are autonomy and Optimus. Those overwhelmingly dominate the future financial success of the company,&#8221; Musk said.



Tesla has not provided an exact date for its robotaxi launch in Austin. 



Musk's visionary rhetoric is often scrutinized due to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36039263/did-tesla-overpromise-and-underdeliver-with-the-cybertruck">overpromising and underdelivering</a> on ambitious projects, especially regarding Tesla robotaxis.



<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 why it's possible for Tesla to have a million robotaxis by end of 2020 if we upgrade existing HW2 fleet of ~500k &amp; make at least ~500k FSD cars&mdash; Kekius Maximus (@elonmusk) <a href="https://twitter.com/elonmusk/status/1148070210412265473?ref_src=twsrc%5Etfw">July 8, 2019</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



TSLA Price Action: Tesla shares were well off their highs for the session, but still up about 0.45% at $343.58 at the time of publication Tuesday. Tesla&#8217;s stock has gained approximately 44% over the past month, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



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<li><a href="https://www.benzinga.com/news/25/05/45519469/tesla-stock-rises-after-musk-reaffirms-leadership-and-business-rebound">Tesla Stock Rises After Musk Reaffirms Leadership And Business Rebound</a></li>
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Photo: courtesy of Tesla.

ABNB

Elon Musk Expects Tesla Robotaxi Launch For June: 'These Things Happen Slowly, Then All At Once'

Palo Alto Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) reported third-quarter financial results for fiscal 2025 after the market close on Tuesday. Here&#8217;s a rundown of the <a href="https://www.benzinga.com/pressreleases/25/05/n45529278/palo-alto-networks-reports-fiscal-third-quarter-2025-financial-results">cybersecurity company&#8217;s report</a>.



Q3 Earnings: Palo Alto reported third-quarter revenue of $2.29 billion, beating the&nbsp;<a href="http://benzinga.com/quote/PANW/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $2.28 billion. The company reported third-quarter adjusted earnings of 80 cents per share, beating analyst estimates of 77 cents per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 15% year-over-year and remaining performance obligations grew 19% year-over-year to $13.5 billion. The cybersecurity company said next-generation security annual recurring revenue increased 34% year-over-year to $5.1 billion.



Palo Alto ended the quarter with approximately $2.38 billion in cash and cash equivalents.



&#8220;In&nbsp;Q3, we continued to make progress on our platformization strategy and achieved an important milestone in crossing&nbsp;$5 billion&nbsp;in Next-Gen Security ARR,&#8221; said&nbsp;Nikesh Arora, chairman and CEO of Palo Alto Networks. &#8220;Our scale and platform breadth makes us a leading consolidator of choice in cybersecurity.&#8221;



Guidance:&nbsp;Palo Alto expects fiscal fourth-quarter revenue to be in the range of $2.49 billion to $2.51 billion versus estimates of $2.5 billion. The company expects fourth-quarter adjusted earnings to be between 87 cents and 89 cents per share versus estimates of 86 cents per share.



Palo Alto also raised its full-year 2025 guidance. The company now expects full-year revenue of $9.17 billion to $9.19 billion, up from prior guidance of $9.14 billion to $9.19 billion. The company now anticipates full-year adjusted earnings of $3.26 to $3.28 per share, up from prior guidance of $3.18 to $3.24 per share, per&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. Analysts are forecasting full-year revenue of $9.17 billion and full-year adjusted earnings of $3.22 per share.



Palo Alto executives will further discuss the company&#8217;s quarterly performance on a conference call with investors and analysts at 4:30 p.m. ET.



PANW Price Action: <a href="https://www.benzinga.com/quote/PANW" target="_blank" rel="noreferrer noopener">Palo Alto shares</a> were up approximately 6.5% year-to-date heading into the report. The stock was down 3.81% after hours, trading at $187.09 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45526658/palo-alto-networks-is-a-top-ai-driven-cybersecurity-play-analyst">Palo Alto Networks Is A Top AI-Driven Cybersecurity Play: Analyst</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45501031/crowdstrike-announces-integration-in-nvidia-enterprise-ai-factory">CrowdStrike Announces Integration In Nvidia Enterprise AI Factory</a></li>
</ul>



Photo: Shutterstock.

Palo Alto Reports Q3 Earnings, Raises FY25 Guidance, Shares Slide

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