Goldman Sachs believes L3Harris Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NASDAQ">LHX</a>) could be among the biggest corporate winners of the Trump administration&#8217;s <a href="https://www.benzinga.com/25/05/45548110/trumps-golden-dome-launches-new-era-for-defense-stocks-like-rtx-lockheed-martin-l3harris">$175 billion &#8220;Golden Dome&#8221; initiative</a>. 



What Happened: Goldman Sachs analyst Noah Poponak reiterated a Buy rating on L3Harris in a note Thursday following management meetings, highlighting the firm's positioning in key elements of the so-called &#8220;Golden Dome.&#8221;



On May 20, President Donald Trump, Secretary of Defense Pete Hegseth, and top military leaders pitched the Golden Dome as a multi-layered national missile defense system that can counter hypersonic and ballistic missiles.



The program, they say, is expected to be completed within three years, though experts note the complexity could extend that timeline.



Beyond the missile defense space, L3Harris has continued to report strength in high-margin communications and signal processing technologies.



Management emphasized global demand for battlefield integration systems, which are increasingly expected to feature artificial intelligence and data analytics, potentially in partnership with firms like Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>).



&#8220;LHX continues to see opportunity for margin expansion and free cash flow growth,&#8221; said Poponak. &#8220;It also remains focused on cost and productivity improvement programs.&#8221;



L3Harris believes the dome initiative could bring "billions of dollars in incremental revenue." The company has a High-Altitude Ballistic Tracking and Surveillance System (HBTSS).



Observers also see L3Harris&#8217; Aerojet Rocketdyne unit, acquired in 2023, as a technological leader in missile propulsion and guidance. Company management says it can benefit from missile-focused components of the initiative.



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: In the GOP tax bill that passed the House on Thursday, the Treasury is increasing the deficit by about $144 billion for Armed Services and $67 billion for Homeland Security, <a href="https://www.benzinga.com/government/regulations/25/05/45569891/big-tax-cuts-big-deficits-wall-street-winners-and-losers-emerge">reflecting key spending priorities.</a>



Golden Dome&#8217;s early funding allocation is pegged at $25 billion. At least $24.7 billion in proposed spending would go toward air and missile defense enhancements.



Key line items include:



<ul class="wp-block-list">
<li>$7.2 billion for development of space-based military sensors</li>



<li>$5.6 billion for space-based and boost-phase missile interceptors</li>



<li>$2.2 billion for hypersonic defense system acceleration</li>



<li>$2 billion for military satellite systems targeting airborne threat</li>
</ul>



What Trump and House Republicans dub the &#8220;big, beautiful bill&#8221; now heads to the Senate.



Shares of L3Harris climbed 3% to $239 on Thursday, outperforming peers like Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up 0.5%, and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), up 0.2%. Meanwhile, RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) slipped 0.3%. 



Goldman Sachs maintained a $283 price target for LHX shares, suggesting an 18% upside over the next 12 months.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45541866/xi-jinpings-china-wants-trump-to-immediately-drop-the-golden-dome-project-over-strong-offensive-implications-security-of-all-countries-should-not-be-compromised">Xi Jinping&#8217;s China Wants Trump To Immediately Drop The Golden Dome Project Over &#8216;Strong Offensive Implications:&#8217; &#8216;&#8230;Security Of All Countries Should Not Be Compromised&#8217; </a></li>
</ul>



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Goldman Sachs Taps This Defense Stock As Prime Beneficiary Of Trump's $175B Golden Dome

Intuit Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) reported financial results for the third quarter of fiscal 2025 after the market close on Thursday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/05/b45573956/intuit-reports-strong-third-quarter-results-and-raises-full-year-guidance">of the report</a>.



Q3 Earnings: Intuit reported third-quarter revenue of $7.75 billion, beating analyst <a href="http://benzinga.com/quote/INTU/earnings">estimates</a> of $7.56 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The QuickBooks and TurboTax parent company reported third-quarter adjusted earnings of $11.65 per share, beating analyst estimates of $10.91 per share.



Total revenue was up 15% year-over-year. Here&#8217;s a breakdown of revenue by segment:



<ul class="wp-block-list">
<li>Consumer Group revenue: $4 billion, up 11%</li>
</ul>



<ul class="wp-block-list">
<li>Global Business Solutions revenue: $2.8 billion, up 19%</li>
</ul>



<ul class="wp-block-list">
<li>Credit Karma revenue: $579 million, up 31%</li>
</ul>



<ul class="wp-block-list">
<li>ProTax Group revenue: $278 million, up 9%</li>
</ul>



<ul class="wp-block-list">
<li>Online Ecosystem revenue: up 20%</li>
</ul>



Intuit repurchased $754 million of its stock in the quarter and had $2.8 billion remaining on its buyback at quarter&#8217;s end. The company said its board approved a quarterly dividend of $1.04 per share, payable on July 18. 



Intuit ended the quarter with $6.2 billion in total cash and investments and $6.4 billion of debt.



&#8220;We have exceptional momentum with outstanding performance across our platform. We&#8217;re redefining what&#8217;s possible with AI by becoming a one-stop shop of AI-agents and AI-enabled human experts to fuel the success of consumers and small and mid-market businesses,&#8221;&nbsp;said&nbsp;Sasan Goodarzi, CEO of Intuit.



Guidance:&nbsp;Intuit expects fourth-quarter revenue of $3.72 billion to $3.76 billion versus estimates of $3.76 billion. The company sees third-quarter adjusted earnings in the range of $2.63 to $2.68 per share versus estimates of $2.59 per share.&nbsp;



Intuit also raised its full-year guidance. The company expects full-year 2025 revenue of $18.72 billion to $18.76 billion, up from prior guidance of $18.16 billion and $18.35 billion. The company anticipates full-year earnings of $20.07 to $20.12 per share, up from prior guidance of $19.16 to $19.36, Analysts are currently looking for full-year revenue of $18.35 billion and full-year adjusted earnings of $19.34 per share, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Intuit&#8217;s management team will further discuss the quarter on a call with investors and analysts at 4:30 p.m. ET. 



INTU Price Action: <a href="https://www.benzinga.com/quote/INTU" target="_blank" rel="noreferrer noopener">Intuit shares</a> were up 8.25% in after-hours, trading at $721 at the time of publication on Thursday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/top-stories/25/05/45570965/stocks-rebound-as-treasury-yields-fall-bitcoin-tops-111000-whats-driving-markets-thursday">Stocks Rebound As Treasury Yields Fall, Bitcoin Tops $111,000: What&#8217;s Driving Markets Thursday?</a></li>
</ul>



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Intuit Q3 Earnings: Revenue Beat, EPS Beat, Raised FY Guidance, Company Seeing 'Exceptional' Momentum Across Platforms

Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has been underperforming the other Big Tech stocks lately. This is likely due to falling margins from the AI overview at the top of Google Search pages and Apple&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) inclusion of AI search on its platforms.



This suggests that Google is going to stay weak for the foreseeable future.



Here&#8217;s the option play to enable us to profit from that weakness.



Trade structure &#8211; the long put spread explained &#8211; positioned for short continuation. 



My play here is a long put spread, which positions us for Google to remain weak. A long put spread involves purchasing a long put and financing part of the cost with a short put. 



The stock&#8217;s current relative resistance zone sits right around $176 and support sits below at $157, so our long put spread is going to look like this:



<ul class="wp-block-list">
<li>Buy to open 1 GOOG 20Jun 2026 170 puts </li>



<li>Sell to open 1 GOOG 20Jun 2026 160 puts </li>
</ul>



This long put spread held a current debit of $3.22 at this writing, representing the total risk incurred in the trade. The breakeven price of the stock at expiration on this trade is $166.79 less commissions. 



The highest potential profit is $10 (the distance between the $170 and $180 strikes) less the cost of the debt incurred by buying the long put spread, so $10 &#8211; $3.22 = $6.78 minus commissions.



The strategy provides several ways to exit, but here are the main two:



<ol class="wp-block-list">
<li>To sell the put spread at either the test of $160 or when the profit goal moves into your target parameters – particularly once the middle strike is tested near the expiration time. I often look for a 40%-70% return with these trending trades. </li>



<li>To sell the put spread when your loss threshold is breached. Customarily, this is 30% for me.</li>
</ol>



<h2 class="wp-block-heading">This Memorial Day: Turn Market Noise Into Clear, Actionable Buy Signals for 60% Off</h2>



Wall Street's top analysts. Insider moves. Real-time portfolio alerts. With Benzinga Edge, you won't just read about profits… you'll know what to buy, when to buy and why. Get the 60% Deal <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-memorial-day-special/?utm_campaign=mdw-sale&amp;utm_adType=sponsorad&amp;utm_ad=RD052325&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a> Before It's Gone!



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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In an era dominated by the rush toward renewable energy, coal might seem like some relic of the past. Yet, for people willing to look beyond the headlines, the coal industry holds hidden gems. <a href="https://www.peabodyenergy.com/">Peabody Energy</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>), the largest coal producer in the United States, stands out as a compelling opportunity. Trading at a steep discount to its intrinsic value, with robust financials and a global footprint, Peabody offers a rare blend of stability and growth potential. This coal titan is a standout choice, poised to reward those who see its enduring relevance.



<h2 class="wp-block-heading">A Legacy of Strength in a Shifting Industry</h2>



Peabody Energy, founded in 1883 and based in St. Louis, Missouri, has weathered over a century of economic cycles to emerge as one of a global leader in coal production. The company operates 17 mines across the United States and Australia, extracting both thermal coal for power generation and metallurgical coal for steelmaking. Its crown jewel, the North Antelope Rochelle Mine in Wyoming, produces over 60 million tons of thermal coal annually, making it one of the world's largest coal operations. In Australia, Peabody's Queensland and New South Wales mines, including the recently reactivated Centurion Mine, cater to the growing demand for metallurgical coal in Asia.



Such kind of diversified portfolio sets Peabody apart. While thermal coal faces headwinds in developed markets due to the shift toward renewables, metallurgical coal remains a critical input for steel production, particularly in fast-growing economies like China and India. With exports to over 26 countries-generating 55-63% of its revenue from international markets- Peabody is not tethered to any single region. Global reach, combined with its operational efficiency, positions the company to navigate the complexities of a transitioning energy landscape.



<h2 class="wp-block-heading">Financial Fortitude: A Case for Undervaluation</h2>



Peabody's financial health tells a story of resilience and opportunity. At a share price of $14.61, the company trades at a price-to-earnings (P/E) ratio of 6.5, far below the coal industry average of 9.04. This suggests a 40% discount to peers, implying a fair value closer to $17.72 based on its earnings per share of $1.96. The stock's price-to-book (P/B) ratio of 0.42 is equally striking, indicating that the market values Peabody at less than half its book value-a rarity in today's market. Similarly, its price-to-sales (P/S) ratio of 0.4 reflects a market capitalization of $1.54 billion, just 40% of its $4.24 billion in annual revenue.



The company's operational efficiency shines through in its enterprise value-to-EBITDA ratio of 1.7, among the lowest in the industry, signaling that Peabody generates strong earnings relative to its $1.37 billion enterprise value. Its balance sheet is equally impressive: a debt-to-assets ratio of 7.8% and a debt-to-equity ratio of 12.8% reflect minimal leverage, while its EBITDA covers interest expenses 9.5 times. With a current ratio of 2.2, Peabody can comfortably meet short-term obligations. Add to that $205.2 million in free cash flow and a price-to-cash-flow ratio of 2.6, and it's clear the company is a cash-generating machine, supporting both its modest 2.4% dividend yield and future growth initiatives.



Peabody's metrics reveal a company that offers deep value and strong fundamentals, boasting profitability metrics-10.5% operating margin, 10.5% net margin, 11.1% return on equity, and 10.3% return on assets- that compete with far pricier rivals. Peabody opens to us as a bargain, hiding in plain sight.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="636" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22142803/image-10-1024x636.png" alt="" class="wp-image-13299" style="width:599px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22142803/image-10-1024x636.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22142803/image-10-300x186.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22142803/image-10-768x477.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22142803/image-10.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">The Coal Conundrum: Challenges and Catalysts</h2>



The coal industry is at a crossroads. In 2025, thermal coal prices hover around $95 per ton, weighed down by reduced demand in Europe and softer imports from China. Metallurgical coal, by contrast, commands $183 per ton, buoyed by steady steel production in Asia. Production costs vary-$10-20 per ton for U.S. thermal coal and $60-90 per ton for Australian metallurgical coal-but Peabody's margins remain healthy, thanks to its low-cost operations and diversified revenue streams.



Long-term challenges loom, particularly in developed markets where environmental regulations and the push for renewables are squeezing thermal coal demand. Yet, recent events underscore coal's enduring role. Power outages in Spain and Portugal, linked to overreliance on renewables, highlight the risks of grids where green energy exceeds 15% of capacity. In developing economies, coal remains a cornerstone of energy security, with India and Southeast Asia driving demand. Moreover, underinvestment in new coal deposits over the past decade has depleted global reserves-Peabody's own stood at 2.4 billion tons in 2022-setting the stage for potential supply shortages and price spikes.



Peabody is pretty well-equipped to capitalize on these dynamics. Its low debt and high cash flow provide a buffer against price volatility, while its focus on metallurgical coal aligns with Asia's industrial growth. The reactivation of the Centurion Mine in Australia further strengthens its position in this resilient segment, where reserve growth outpacing industry trends.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22182231/ShoalCreek-1-1024x768.jpg" alt="" class="wp-image-13309" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22182231/ShoalCreek-1-1024x768.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22182231/ShoalCreek-1-300x225.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22182231/ShoalCreek-1-768x576.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/22182231/ShoalCreek-1.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Image credit: https://www.peabodyenergy.com/Media-Center/Photo-Gallery/Location-United-States



<h2 class="wp-block-heading">Why Peabody Shines as a Top Stock Pick</h2>



Peabody Energy offers a compelling case for investors seeking value and resilience. At $14.61, its stock is undervalued by nearly 40% relative to its fair value, with analysts projecting a price target of $27.60-an 88.9% upside. This discount persists despite stable coal prices and Peabody's operational strength, suggesting that market skepticism about coal's future is overstated. The company's diversified revenue, minimal debt, and robust cash flow provide a margin of safety, while its 2.4% dividend yield adds an income component.



Catalysts for growth are on the horizon. A rebound in coal prices, driven by supply constraints or renewed energy demand, could unlock significant value. Continued steel production in Asia ensures steady demand for metallurgical coal, while coal's role as a reliable energy source may see a resurgence in markets grappling with renewable energy's limitations. Risks, such as regulatory pressures and price volatility, are real but mitigated by Peabody's financial discipline and global diversification.



<h2 class="wp-block-heading">A Resounding Recommendation</h2>



Peabody Energy stands out as a rare opportunity in a misunderstood sector. Its undervaluation, strong fundamentals, and strategic positioning make it a prime candidate for investors looking to capitalize on the coal industry's resilience. With a "Strong Buy" rating from analysts and a clear path to significant upside, Peabody is not just a stock- it's a story of value waiting to be rediscovered. For those willing to dig a little bit deeper, this coal giant is a shining prospect.

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The U.S. House of Representatives passed one of the most expansive tax-and-spending bills in modern history, setting the stage for a multi-trillion-dollar shift in federal deficits and sector <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45564489/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-515-as-bond-market-freaks">dynamics over the next decade.</a>



The legislation is projected to balloon the federal deficit by over $3 trillion between 2025 and 2034, according to preliminary estimates from the Congressional Budget Office. The fiscal impact will peak around 2027, when the bulk of the temporary spending programs and tax cuts kick in.



<h1 class="wp-block-heading">Fiscal Alarm Bells Ring On Wall Street</h1>



Analysts at the bipartisan federal agency warn that such a sharp increase comes at a time when U.S. debt is already on an unsustainable trajectory.



"Adding more than $3 trillion to the debt when our nation's finances are already on an unsustainable path would be unwise," the CBO stated. 



"Lawmakers should go back to the drawing board and work on a bill that reduces deficits, not adds to them."



Spencer Hakimian, founder of Tolou Capital warned that with the bill's passage, markets should brace for permanent emergency-style stimulus and $4 trillion annual deficits within a few years.



"This is COVID-style spending — without the pandemic," Hakimian said in a post on X.



Goldman Sachs' economist Alec Phillips highlighted that Moody's recent U.S. credit rating downgrade was influenced by the bill's trajectory, stating, "Markets are already attuned to fiscal risks… early August remains our base case for enactment."



<h1 class="wp-block-heading">How The House Tax Bill Could Shake Up Different Sectors</h1>



According to CBO projections, the bill increases the deficit in three key government areas — meaning more spending is likely ahead:



<ul class="wp-block-list">
<li>Judiciary: $7 billion (deficit increase)</li>



<li>Armed Services: $144 billion</li>



<li>Homeland Security: $67 billion</li>
</ul>



This suggests significant boosts to military procurement, border enforcement and law enforcement infrastructure. These sectors could benefit from rising federal contracts and equipment orders, with likely beneficiaries including the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) and the First Trust Nasdaq Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>).



At the core of the bill is the Ways &amp; Means Committee, responsible for all tax policy, Social Security, Medicare, unemployment benefits and tariffs. This section alone accounts for $3.775 trillion of the total deficit increase.



Other areas of the budget plan reflect deficit reductions, which generally imply spending cuts or revenue gains. These include:



<ul class="wp-block-list">
<li>Energy &amp; Commerce: -988 billion (deficit reduction).</li>



<li>Agriculture: -$238 billion</li>



<li>Education &amp; Workforce: -$349 billion</li>



<li>Financial Services: -$5 billion</li>



<li>Natural Resources: -$20 billion</li>



<li>Oversight &amp; Government Reform: -$51 billion</li>



<li>Transportation &amp; Infrastructure: -$37 billion</li>
</ul>



Potential ETF losers include Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>), iShares MSCI Agriculture Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEGI#NYSE">VEGI</a>), and iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>), given expected cuts to renewables subsidies, rural and transportation programs.



<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">&#x1f1fa;&#x1f1f8; CBO&#39;s First Score of House Reconciliation Bill &#8211; CRFB<a href="https://t.co/iFM00ypPuM">https://t.co/iFM00ypPuM</a> <a href="https://t.co/JmkCrJ8W3q">pic.twitter.com/JmkCrJ8W3q</a>&mdash; Christophe Barraud&#x1f6e2;&#x1f433; (@C_Barraud) <a href="https://twitter.com/C_Barraud/status/1925540653607395776?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h1 class="wp-block-heading">Market Reactions</h1>



Initial market reactions hit the solar and renewables sectors, which suffered the brunt of market fallout. With many solar tax subsidies ended, the Invesco Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NASDAQ">TAN</a>) fell 9% on Thursday. Among key names:



<ul class="wp-block-list">
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) collapsed 40%</li>



<li>SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) dropped 26%</li>



<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 19%</li>



<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) declined 4%</li>
</ul>



Abigail Ross Hopper, CEO of the Solar Energy Industries Association, warned the bill would "upend an economic boom," potentially leading to blackouts and a strategic loss to China in the global AI race.



"This bill is willfully ignorant of the fact that deploying solar and storage is the only way the U.S. power grid can meet demand&#8230; If it becomes law, America will effectively surrender the AI race to China."



In contrast, consumer-related stocks rallied, buoyed by expectations of tax relief and increased household spending power. The SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) climbed 1.5%, led by Advance Auto Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>), which soared 42% after a blowout earnings report.



Within tech-focused defense names, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) jumped 4.5%, while cybersecurity leader CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) gained 2.6%. 



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45567476/us-business-activity-rebounds-in-may-but-tariff-fueled-inflation-surges-at-fastest-pace-in-3-years">US Business Activity Rebounds In May, But Tariff-Fueled Inflation Surges At Fastest Pace In 3 Years</a> Photo: iQoncept via Shutterstock<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45567476/us-business-activity-rebounds-in-may-but-tariff-fueled-inflation-surges-at-fastest-pace-in-3-years"> </a></li>
</ul>

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Big Tax Cuts, Big Deficits: Wall Street Winners And Losers Emerge

U.S. private sector activity accelerated sharply in May as both manufacturing and services topped forecasts, yet a surge in prices driven by tariff impacts pushed inflationary signals to levels last<a href="https://www.benzinga.com/topic/inflation"> seen in August 2022.</a>



S&amp;P Global's flash Purchasing Managers Indices (PMIs) for May painted a strong picture of U.S. economic momentum. The composite PMI rose to 52.1, a solid jump from April's 50.6 and firmly above the neutral 50 line that separates growth from contraction.



<h3 class="wp-block-heading">Confidence Rebounds, But So Do Tariff Troubles</h3>



The services PMI improved from 50.8 to 52.3 and beat forecasts of 50.8. Similarly, the manufacturing PMI rebounded from 50.2 to 52.3 and exceeded estimates of 50.1. 



Business sentiment, which had dropped to a two-and-a-half year low in April, rebounded in May to its highest level since January. 



Chris Williamson, chief business economist at S&amp;P Global Market Intelligence, said optimism was largely tied to "the pause on higher rate tariffs."



Yet, the data masked growing stress beneath the surface. Export demand continued to contract, particularly in the services sector, while supply chain delays intensified. 



Delivery times worsened to the greatest extent since October 2022. 



The inventory buildup of manufacturing inputs surged at the fastest pace in the 18-year history of the survey, as firms rushed to secure supplies ahead of potential tariff hikes once the current 90-day pause expires in July.



<h3 class="wp-block-heading">Inflation Pressure Spikes To 2022 Levels</h3>



Tariffs were the central inflationary force in May, driving prices higher at a pace unseen since August 2022. Selling prices for manufacturers posted the biggest increase since September 2022. Meanwhile, services firms raised prices at the fastest rate since April 2023.



"Supply chain delays are now more prevalent than at any time since the pandemic led to widespread shortages in 2022," Williamson said. 



"Prices charged for both goods and services have spiked higher as firms and their suppliers seek to pass on tariff levies to customers."



Manufacturing input costs rose at their sharpest rate since August 2022, while service sector costs grew at their fastest pace in nearly a year. The spike reflects companies stockpiling goods and pushing through costs before the tariff moratorium ends.



<h3 class="wp-block-heading">Markets React As Inflation Concerns Rise</h3>



Financial markets responded swiftly to the dual signals of economic strength and accelerating inflation. 



The U.S. dollar index (DXY) – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – strengthened after several weak sessions, supported by rising expectations that the Federal Reserve will maintain its current interest rate policy for longer.



Yields on 10-year Treasuries held steady at 4.59%, while 30-year yields eased slightly to 5.11% after touching 5.15% earlier in the session.



Equity markets showed mild optimism. 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>) – rose 0.3% and the tech-heavy Nasdaq 100 gained 0.8%, trimming losses from earlier in the week.



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45564489/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-515-as-bond-market-freaks">Trump&#8217;s Big Tax Bill Clears The House: 30-Year Yields Jump To 5.15% As Bond Market Freaks </a></li>
</ul>



Photo: Shutterstock

Econ #s

US Business Activity Rebounds In May, But Tariff-Fueled Inflation Surges At Fastest Pace In 3 Years

The U.S. House narrowly passed President Donald Trump's sweeping tax-cut bill Thursday, triggering a spike in Treasury yields as investors reacted to the bill's multi-trillion-dollar price tag and its long-term<a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows"> implications for debt sustainability.</a>



The yield on 30-year Treasury bonds surged to 5.15% in early New York trading, marking the highest level since October 23, 2023. 



The move came after the House approved the $3.8 trillion tax-and-spending package by a razor-thin 215–214 margin, with all Democrats and two Republicans voting against it, and one Republican voting present.



The bill, dubbed by Trump as the "one big, beautiful bill," advances to the Senate, where a vote is expected before the July 4 recess. If enacted, it would enact broad tax cuts, increase spending, and lift the deficit trajectory by trillions over the next decade.



<h3 class="wp-block-heading">Debt Explosion In The Spotlight</h3>



JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon indicated that while Trump's plan may help stabilize the business cycle, it does little to fix America's fiscal path.



"I think the deficit will be large and probably growing," Dimon told Reuters. "Governments can spend money and still fail to drive growth. Responsibility matters."



Dimon echoed concerns shared by both credit analysts and institutional investors who say the long-term trajectory of U.S. debt could undermine confidence in Treasuries if spending continues unchecked.



The bill could increase the national debt—already at a record $36.2 trillion—by anywhere from $2.3 trillion to $5.7 trillion by 2034, depending on whether key tax breaks are extended, according to estimates from the Congressional Budget Office and the Committee for a Responsible Federal Budget.



"Stock investors may now be getting spooked that the bond market might be on the verge of a debt crisis," said veteran investor Ed Yardeni, pointing to the recent Moody's downgrade of U.S. sovereign credit and rising global bond yields.



Yardeni noted that the S&amp;P 500's 1.61% decline on Wednesday was already a reaction to the poorly received 20-year bond auction, and Thursday's vote could accelerate concerns. 



"Trump's ‘Big Beautiful Bill' could push deficits and debt into uncharted territory," he said.



<h3 class="wp-block-heading">Is A Debt Crisis Inevitable?</h3>



Yardeni raised the possibility that bond vigilantes—investors demanding higher yields to compensate for rising fiscal risk—could push the 10-year Treasury yield above 5% in coming weeks. 



Still, he said a full-blown debt crisis might not be catastrophic if it forces Washington toward fiscal discipline.



"In that case, a debt crisis would actually be a buying opportunity for stocks. Fasten your seat belts," Yardeni said.



According to Yardeni, the Federal Reserve could reserve a new Quantitative Easing (QE) to alleviate the Treasury&#8217;s financing pressures.



Another option could be shifting Treasury issuance toward short-term bills, as seen under Janet Yellen's 2023 playbook, which may temporarily ease pressure on long-term yields without requiring Fed intervention. 



Yet, the Treasury&#8217;s so-called Yield Curve Control makes U.S. debt far more sensitive to interest rate swings, increasing rollover risk as more debt matures faster.



With federal debt already at $36.2 trillion, even modest rate hikes could sharply raise borrowing costs, amplifying concerns about long-term fiscal sustainability.



Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45544593/hedge-funds-are-building-a-towering-wall-of-bets-against-stocks">Hedge Funds Are Building A Towering Wall Of Bets Against Stocks</a>



Photo: Shutterstock



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45544593/hedge-funds-are-building-a-towering-wall-of-bets-against-stocks"><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></a>

Trump's Big Tax Bill Clears The House: 30-Year Yields Jump To 5.15% As Bond Market Freaks

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.



Photo: Shutterstock

GIII

SCVL

5 Undervalued Stocks To Buy On China Tariff Cuts

After breaking an 11-week-long streak last week of being above the 50% mark, the bearish sentiment, measured by the American Association of Individual Investors (AAII) Sentiment Survey, slipped below the 40% mark in the current week.



What Happened: Additionally, the bullish sentiment for this survey, which is conducted weekly from Thursday to Wednesday, topped the bearish sentiment for the first time in 17 weeks, since Jan. 29.



However, it was still neck and neck as bearish sentiment stood at 36.7%, whereas the bullish sentiment came in at 37.7% for the week that ended on Wednesday, May 21.



The neutral sentiment for the week stood at 25.6%, which was at its highest level in 12 weeks since Feb. 19.



As compared to last week, pessimism dropped by 7.7% from 44.4% to 36.7%. Whereas optimism increased 1.8% from 35.9% to 37.7%.



The 11-week-long bearish sentiment above 50%, which ended last week, was the highest ever, as the second-longest streak of such pessimism was last observed in 1990. The old streak was just <a href="https://www.benzinga.com/government/regulations/25/04/44730455/bearish-sentiment-hits-7-week-high-mimicking-35-year-old-record-which-marked-the-bottom-of-the-october-1990-bear-market">seven weeks long</a>.



The historical averages of bearish sentiment stood at 31%, and that of the bullish sentiments were at 37.5% among the participants of the AAII survey.



See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45559366/urban-outfitters-navigates-tariff-headwinds-with-diversification-strategies-no-country-accounts-for-more-than-25-of-production">Urban Outfitters Navigates Tariff Headwinds With Diversification Strategies: No Country &#8216;Accounts For More Than 25%&#8217; Of Production</a>



Why It Matters: This week&#8217;s special question to the AAII survey participants was &#8220;What do you think about the Federal Reserve&#8217;s decision to keep interest rates unchanged?&#8221;



To this, about 73.6% of the participants said that the Fed did the right thing by not cutting the rates, while 17.1% of the participants said that they should have cut interest rates. About 6.6% of the respondents were not sure and had no opinion, while 2.7% said that the Fed should have raised the interest rates.



The stock market has recovered since the U.S. and China decided to <a href="https://www.benzinga.com/government/regulations/25/05/45345994/us-china-tariff-truce-will-alleviate-worst-fears-but-prevent-falling-yields-keeping-economy-under-pressure-says-craig-shapiro">pause tariffs for 90 days</a>; however, a <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody&#8217;s downgrade</a>, rising yields, and investors&#8217; assessment of President Donald Trump&#8216;s proposed tax cuts in the &#8220;<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>&#8221; have led the market lower for the last two sessions.



On Thursday, 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. The SPY was down 0.37% to $580.73, while the QQQ declined 0.37% to $511.16, 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/news/25/05/45533521/charlie-munger-once-said-the-first-rule-of-compounding-is-to-never-interrupt-it-unnecessarily-now-hi" target="_blank" rel="noreferrer noopener">Charlie Munger Once Said, ‘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></li>
</ul>



Photo: Shutterstock

Market Summary

Futures

General

Bulls Beat Bears For The First Time In 17 Weeks, Pessimism Drops As Bearish Sentiment Slides Below 40%

U.S. stock futures swung on Thursday after two days of decline on Wednesday. Futures of major benchmark indices were trading mixed in premarket.



After a marathon 22-hour hearing, the <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">House Rules Committee moved</a> President Donald Trump&#8216;s &#8220;$4.9 trillion legislative package&#8221; forward with an 8-4 vote on the &#8220;One Big Beautiful Bill Act.&#8221; 



This action paves the way for a potential overnight floor vote, as Republicans press ahead despite internal party disagreements.



Meanwhile, the 10-year Treasury bond yielded 4.57% and the two-year bond was at 3.99%. 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 94.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.07%</td></tr><tr><td>S&amp;P 500</td><td>0.06%</td></tr><tr><td>Nasdaq 100</td><td>0.13%</td></tr><tr><td>Russell 2000</td><td>-0.04%</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, rose in premarket on Thursday. The SPY was up 0.14% to $583.68, while the QQQ advanced 0.25% to $514.34, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Most S&amp;P 500 sectors closed lower Wednesday, with real estate, healthcare, and financial stocks seeing the largest declines.



However, communication services bucked the trend, finishing higher. Investors remained cautious amid fresh worries about fiscal policy.



Meanwhile, Lowe's Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported mixed first-quarter fiscal 2025 results, and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) posted weaker-than-expected first-quarter figures.



On the economic front, U.S. mortgage application volumes fell 5.1% from the prior week for the period ending May 16.



The Dow Jones index declined 817 points or 1.91% to 41,860.44, whereas the S&amp;P 500 index fell 1.61% to 5,844.61. Nasdaq Composite ended 1.41% lower at 18,872.64, and the small-cap gauge, Russell 2000, dropped 2.80% to 2,046.56.



<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>-1.41%</td><td>18,872.64</td></tr><tr><td>S&amp;P 500</td><td>-1.61%</td><td>5,844.61</td></tr><tr><td>Dow Jones</td><td>-1.91%</td><td>41,860.44</td></tr><tr><td>Russell 2000</td><td>-2.80%</td><td>2,046.56</td></tr></tbody></table></figure>



Insights From Analysts:



The Senior Global Market Strategist at Wells Fargo, Scott Wren, said that &#8220;We do not see the U.S. economy dipping into a recession this year as consumer spending should continue to grow modestly with growth in real incomes.&#8221;



Wren anticipates a modest rebound in GDP next year, rising to 1.8% from their projected 1% for this year, following a continued growth slowdown over the next couple of quarters.



Wells Fargo doesn&#8217;t foresee a U.S. recession this year because consumer spending should continue its modest growth, bolstered by increasing real incomes, even if it&#8217;s weaker than late last year.



While unemployment is expected to tick up due to below-average economic growth, Wells Fargo&#8217;s 5.3% projection for 2026 remains well below recessionary levels.



Furthermore, he added that &#8220;We also still see plenty of up and down in equity prices but ultimately a higher S&amp;P 500 Index by the end of 2026.&#8221;



Meanwhile, Kristian Kerr, head of macro strategy at LPL Financial, said that &#8220;Greater clarity is expected later this summer, as economic data tends to lag, meaning the full impact of tariffs may not be evident until June or July at the earliest.&#8221;



Additionally, he explained that the current policy landscape remains in flux, with broader tariffs largely paused until early July and China exempt from significant tariff increases until August 12.



&#8220;If meaningful economic weakness does materialize — confirmed by hard data mirroring the softness seen in leading indicators — or trade negotiations deteriorate, another bout of market volatility could ensue, potentially aligning with historical seasonal patterns where equities often struggle from late summer into fall.&#8221;



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



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



<ul class="wp-block-list">
<li>Initial jobless claims data for the week ending May 17 will be out by 8:30 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>The S&amp;P flash U.S. services and manufacturing PMI for May will be released by 9:45 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>April&#8217;s existing home sales will be announced by 10:00 a.m. ET.</li>
</ul>



<ul class="wp-block-list">
<li>New York Fed President John Williams will speak at 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>BJ&#8217;s Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) was up 0.51% in premarket on Thursday as analysts expect it to report quarterly earnings of 91 cents per share on revenue of $5.20 billion, before the opening bell.</li>



<li>Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) advanced 1.16% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $1.70 per share on revenue of $2.51 billion.</li>



<li>Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) was 0.048% higher as analysts expect it to report quarterly earnings of $1.76 per share on revenue of $1.67 billion, before the opening bell.</li>



<li>Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) rose 1.25% as Wall Street expects it to report earnings before the opening bell. It is expected to post a quarterly loss of 69 per share on revenue of $2.51 billion.</li>



<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) jumped 9.54% after posting better-than-expected earnings and sales results for the first quarter. The company also said it expects second-quarter product revenue in the range of $1.035 billion to $1.04 billion, up approximately 25% year-over-year.</li>



<li>Zoom Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) was 0.17% higher after reporting stronger-than-expected earnings for its first quarter after Wednesday's closing bell.</li>



<li>Urban Outfitters Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) surged 17.50% after posting a better-than-expected first quarter result and highlighting diversification strategies to mitigate tariffs in its earnings call.</li>



<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) was up 0.13% after announcing the acquisition of Johnson Matthey&#8216;s Catalyst Technologies business, expanding its portfolio of leading catalyst and process technologies.</li>



<li>Rio Tinto PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) advanced 0.58% after announcing the start of early works and final studies to increase Amrun mine's bauxite production on Queensland's Cape York Peninsula.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 1.20% to hover around $60.83 per barrel.



Gold Spot US Dollar fell 0.10% to hover around $3,312.13 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.169% at the 99.7170 level.



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



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/market-summary/25/05/45541408/cathie-woods-ark-invest-says-nuclear-energy-could-overtake-solar-as-cheapest-power-source-heres-a-list-of-nuclear-energy-linked-etfs-to-consider">Cathie Wood&#8217;s Ark Invest Says Nuclear Energy Could Overtake Solar As Cheapest Power Source: Here&#8217;s A List Of Nuclear Energy Linked ETFs To Consider </a></li>
</ul>



Photo courtesy: Shutterstock

Pre-Market Outlook

SNOW

URBN

US Stock Likely To Open On A Mixed Note After 2-Day Fall: 'We Do Not See The US Economy Dipping Into A Recession This Year,' Says Expert

Even as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has hit <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45561695/bitcoin-shatters-110000-xrp-dogecoin-ethereum-surge-bulls-emerge-victorious-trader-conclud">a new all-time high</a> above $111,000, driven by surging institutional demand, tightening supply, and macroeconomic tailwinds, experts caution the rally isn't without structural risks, including the looming threat of quantum computing.



What Happened: Bitcoin surged to a new record of $111,544 on Wednesday, extending its post-halving uptrend and highlighting its growing appeal to institutions amid dovish macro signals.



The cryptocurrency was last trading at $111,000, up roughly 1% for the day.



The broader market also gained, with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) up 5%, 6%, 3.4%, and 4.6%, respectively.



However, market sentiment at 72 nears extreme greed, making growth susceptible to pullbacks, especially amid a U.S. government bond sell-off.



What Experts Are Saying: Analysts say the rally is being powered by real spot demand and record ETF inflows, not leverage or hype.



Bitget Research's Chief Analyst Ryan Lee said the rally "reflects a regime shift," citing ETF-driven accumulation and a post-halving supply crunch. 



"Institutional adoption is accelerating, and regulatory clarity, particularly progress on the GENIUS Act is reinforcing market confidence," Lee noted, although he warned that "a stronger U.S. dollar or fresh geopolitical tensions could easily knock momentum off course."



The rally has pushed the total crypto market capitalization briefly past $3.5 trillion. 



Still, FxPro's Alex Kuptsikevich cautioned that the absence of FOMO means growth may remain fragile. 



"Sentiment at 72 is near the extreme greed zone. That often precedes corrective pullbacks," he said.



Bitfinex analysts noted the breakout above $109,500 was driven by "clean spot demand, ETF inflows, and a macro backdrop that favors risk-on assets." 



They added that funding rates remain stable and open interest is rising in line with price—hallmarks of a structurally sound rally.



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 Surprised Even The Founder: &#8216;Nice To See Progress&#8217;</a>



What&#8217;s Next: Yet, not all analysts are focused on short-term price moves.



David Carvalho, CEO of Naoris Protocol, warned that quantum computing is a "credible existential threat" to Bitcoin's long-term integrity. 



"There are over 100 quantum machines operational globally. With Shor's algorithm, they could break Bitcoin's cryptography," he said, referencing the Elliptic Curve Digital Signature Algorithm that secures the majority of BTC. "Roughly 30% of Bitcoin sits in wallets vulnerable to quantum attacks."



Carvalho noted that while major institutions like BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) and agencies such as the NSA are preparing for a quantum-secure future, "investors remain overconfident in the current cryptographic defenses." 



He added, "If even one high-profile wallet is compromised, trust in the system could collapse overnight."



Roshan Robert, U.S. CEO of OKX, emphasized the broader context: "Bitcoin's rise isn't just speculative. It reflects how capital preservation is being redefined across institutions and sovereigns."



With price targets between $114,000 and $125,000 being flagged by several analysts as the next resistance zones, the immediate focus remains on ETF flows and macro data, including U.S. labor figures and central bank remarks later this week.



Read Next: 



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

$BNB

$BTC

$ETH

$SOL

$XRP

Bitcoin Breaks $111,000 As Experts Hail 'Regime Shift'

Crypto markets are surging on early Thursday, with Bitcoin hitting a new all-time high above $110,000 amid accelerating institutional adoption and robust ETF inflows.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$110,681.06</td><td>+4%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,650.22</td><td>+4.3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$178.1</td><td>+5.3%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.41</td><td>+2.7%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2395</td><td>+5.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001523</td><td>+4.9%</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 22.1% and 36.9%, respectively, while BTC's daily active addresses went up by 7.7% and exchange netflows are up by 332.7%.</li>



<li>Coinglass data shows 125,650 traders were liquidated in the past 24 hours for $505.49 million.</li>



<li>SoSoValue data shows $608.99 million in net inflows into spot Bitcoin ETFs and $587,000 in net inflows into spot Ethereum ETFs.</li>



<li>CoinGlass data <a href="https://x.com/coinglass_com/status/1925449040130711574">shows</a> selling pressure for Bitcoin with nearly $200 million in stacked sell orders between $111,000–$113,200, with ~$8 million per $100 increment totalling around $200 million in cumulative sell pressure.</li>



<li><a href="https://x.com/coinbureau/status/1925463469714817335">According</a> to Coin Bureau, retail investors have yet to fully enter the market as wallets holding less than 1 BTC (&#8220;shrimp&#8221; addresses) remain lower than in May 2024 and January 2021. Once retail floods in, sentiment could turn euphoric.</li>
</ul>



Trader Notes: Glassnode data <a href="https://x.com/glassnode/status/1925484339002745285">reports</a> only $1 billion in profit-taking at Bitcoin's new all-time high, less than half the $2.1 billion seen when Bitcoin first crossed $100,000 in December. This suggests investors are holding tight for more upside.



Crypto trader Jelle sees Bitcoin having a target of $180,000 while Trader Tardigrade says Bitcoin broke out of a key battleground between bulls and bears and the bulls are now fully in charge and have emerged victorious.



<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"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> was caught in a tug-of-war between Bulls and Bears along the Bull/Bear Battle Line. Ultimately, the Bulls emerged victorious &#x1f525; Bulls now have full control of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &#x1f680; <a href="https://t.co/g7mF1CntMT">pic.twitter.com/g7mF1CntMT</a>&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1925495872613490726?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Dogecoin is breaking out of a bull pennant, with Ali Martinez targeting $0.31.



<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"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> appears to be breaking out of a bull pennant, which suggests a target of $0.31! <a href="https://t.co/Hbzuwd7Akk">pic.twitter.com/Hbzuwd7Akk</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1925349892714615046?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Jelle <a href="https://x.com/CryptoJelleNL/status/1925477625474044354">remains </a>confident in his Solana holdings, expecting a strong rally once it clears $250. He expects a surge to $400–$500 once it clears resistance, as &#8220;weak hands&#8221; have already been flushed out.



Ethereum is holding strong, but Jelle <a href="https://x.com/CryptoJelleNL/status/1925482983965802725">believes</a> the real rally begins once it reclaims $3,000, which could trigger a broader market wave.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45541858/germany-sold-50000-bitcoin-below-60000-heres-how-much-it-missed-out-on">Germany Sold 50,000 Bitcoin Below $60,000: Here&#8217;s How Much It Missed Out On</a></li>
</ul>



Image: Shutterstock

$DOGE

$SHIB

Bitcoin Shatters $110,000, XRP, Dogecoin, Ethereum Surge: 'Bulls Emerge Victorious,' Trader Concludes

The Trump administration has made an urgent plea to the Supreme Court to prevent Elon Musk&#8216;s Department of Government Efficiency (DOGE) from disclosing its operational documents&nbsp;to a federal watchdog group.



What Happened: The administration made the appeal on Wednesday, asking the Supreme Court to overturn court orders requiring DOGE to share its operational documents with Citizens for Responsibility and Ethics in Washington (CREW), <a href="https://apnews.com/article/supreme-court-doge-freedom-information-records-trump-14a1773b42ddad1e3367a39750a84bef">reported</a> AP News.



The Justice Department maintains that DOGE, a significant component of President Trump&#8217;s government reform initiatives, is a presidential advisory body and therefore not subject to Freedom of Information Act (FOIA) requests.



In February, CREW initiated a lawsuit claiming that DOGE&nbsp;wields considerable power without any transparency about its activities.&nbsp;In March, U.S. District Judge&nbsp;Christopher Cooper&nbsp;ruled that DOGE&#8217;s role likely goes beyond advisory, noting its role in the closure of USAID and the reduction of billions in government contracts.&nbsp;



Cooper has given the administration a compliance deadline of June 13. Solicitor General D. John Sauer urged the justices to act swiftly, calling Cooper's orders "extraordinarily overbroad and intrusive."



SEE MORE:&nbsp;<a href="https://benzinga.com/markets/25/05/45539686/kevin-oleary-warns-trumps-big-beautiful-bill-could-be-devastating-for-small-businesses-somebodys-got-to-r" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Warns Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; Could Be &#8216;Devastating&#8217; For Small Businesses: &#8216;Somebody&#8217;s Got To Raise The Red Flag&#8217;</a>



Why It Matters:&nbsp;This latest development is part of a series of legal battles surrounding DOGE&#8217;s authority and operations. Earlier this month, the Trump administration&nbsp;sought Supreme Court <a href="https://www.benzinga.com/news/25/05/45189902/trump-administration-pushes-supreme-court-to-greenlight-doge-access-to-americans-social-security-data-despite-lower-courts-fishing-expedition-warning">approval&nbsp;</a>for DOGE to access sensitive Social Security data, despite a lower court&#8217;s ruling against this. This move further escalated the ongoing dispute over data privacy and executive authority.



Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has been at the center of these controversies. Musk&#8217;s DOGE has been&nbsp;<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">aggressively cutting costs</a>, yet federal spending has reportedly increased by $154 billion since Trump&#8217;s second term began. This has raised questions about the effectiveness and impact of DOGE&#8217;s actions.



When CNBC&#8217;s David Faber asked Musk on Tuesday about the <a href="https://www.benzinga.com/media/25/05/45534314/elon-musk-just-got-grilled-on-doge-spending-hits-back-with-were-not-kings-here">concrete results</a> of DOGE&#8217;s cost-cutting measures, pointing out the criticism Musk has received, Musk replied: "We are advisers. We are not—we&#8217;re not kings here." Previously, Musk had accepted that DOGE hadn&#8217;t been <a href="https://www.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">as effective</a> as he&#8217;d like. 



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/25/05/45541866/xi-jinpings-china-wants-trump-to-immediately-drop-the-golden-dome-project-over-strong-offensive-implicati" target="_blank" rel="noreferrer noopener">Xi Jinping&#8217;s China Wants Trump To Immediately Drop The Golden Dome Project Over &#8216;Strong Offensive Implications:&#8217; &#8216;&#8230;Security Of All Countries Should Not Be Compromised&#8217;</a></li>
</ul>



Image via Shutterstock



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

TSLA

Trump Admin Urges Supreme Court To Block Watchdog From Accessing Elon Musk's DOGE Records

Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) CEO Marc Benioff credits a pivotal 2010 conversation with Apple Inc. co-founder Steve Jobs for shaping the focused product strategy that helped build his company&#8217;s $270.8 billion market capitalization.



What Happened: Speaking at the 2024 All-In Summit with President Donald Trump&#8216;s White House AI &amp; Crypto Czar David Sacks, Benioff recalled how Jobs summoned him to discuss Apple&#8217;s product philosophy during the iPad&#8217;s development phase.



&#8220;After I started Salesforce, he gave me really key advice,&#8221; Benioff said. &#8220;It was 2010 and he calls me, &#8216;Come down here, I need to talk to you.'&#8221;



During the meeting, Jobs demonstrated two iPad prototypes before explaining his &#8220;one A Team&#8221; philosophy. &#8220;We only have one A Team here. One A Team. So we&#8217;re only focused on one thing at a time,&#8221; Jobs told Benioff, according to the Salesforce CEO&#8217;s account.



Jobs then placed five or six products on his coffee table, telling Benioff: &#8220;We will never have more products than can fit on my coffee table. One focus at a time. Remember that, Marc. That&#8217;s the way you need to run Salesforce.&#8221;



See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45535142/jamie-dimon-who-flagged-trouble-before-2008-lehman-brothers-collapse-now-warns-sp-earnings-could-fall-to-0rougher-time-for-markets-says-dan-niles">Jamie Dimon, Who Flagged Trouble Before 2008 Lehman Brothers Collapse, Now Warns S&amp;P Earnings Could Fall To 0%: &#8216;Rougher Time For Markets,&#8217; Says Dan Niles</a>



Why It Matters: This focused approach has proven successful for Salesforce, which generated an estimated $7.9 billion in Sales Cloud subscription revenue for fiscal 2026. BofA Securities analyst Brad Sills maintains a Buy rating with a $350 price target, citing the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45357365/salesforce-sales-cloud-ai-integration-and-cloud-upsells-drive-analyst-confidence-in-long-term-growth">company&#8217;s core growth businesses and AI integration</a> through its Agentforce platform.



Benioff, who worked as an assembly language programmer at Apple in 1984, has applied Jobs&#8217; philosophy while expanding Salesforce beyond its original CRM software into what he calls &#8220;digital labor&#8221; markets. The company&#8217;s Sales Cloud maintains an <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45357365/salesforce-sales-cloud-ai-integration-and-cloud-upsells-drive-analyst-confidence-in-long-term-growth">estimated 25% share of the $39 billion Sales CRM industry</a>, according to Gartner forecasts.



Salesforce Ventures, with $6.8 billion under management, recently scored approximately $600 million when Google acquired cybersecurity firm Wiz. The company&#8217;s $1 billion Generative AI Fund has invested in Anthropic and other AI startups, <a href="https://www.benzinga.com/startups/25/05/45436500/salesforce-ceo-marc-benioff-says-funding-thousands-of-startups-is-how-innovation-happens-youre-going-to-throw-a-lot-against-the-wall">reflecting Benioff&#8217;s belief</a> that &#8220;you must fund the chaos to harvest the miracles.&#8221;



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Marc Benioff &#x7C; All-In Summit 2024" width="500" height="281" src="https://www.youtube.com/embed/TtNrCJCwwlc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Image Via Shutterstock 



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/tech/25/05/45558772/google-and-character-ai-sued-after-teen-dies-following-interaction-with-game-of-thrones-themed-chatbot-judge-says-free-speech-defense-not-acceptable">Google And Character.AI Sued After Teen Dies Following Interaction With &#8216;Game Of Thrones&#8217;-Themed Chatbot — Judge Says Free Speech Defense Not Acceptable</a></li>
</ul>



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

Success Stories

Steve Jobs Once Invited Marc Benioff To His Office With 2 iPads In 2010: The Lesson That Shaped A $270 Billion Salesforce Empire

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



U.S. stocks settled lower on Wednesday, with the Dow Jones index falling more than 800 points during the session as investors remained cautious amid renewed concerns over fiscal policy.



Lowe&#8217;s Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported mixed results for the first quarter of fiscal 2025. Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) reported weaker-than-expected first-quarter results.



On the economic data front, U.S. mortgage application volumes declined by 5.1% from the previous week in the week ending May 16.



Most sectors on the S&amp;P 500 closed on a negative note, with real estate, health care, and financial stocks recording the biggest losses on Wednesday. However, communication services stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 817 points to 41,860.44 on Wednesday. The S&amp;P 500 fell 1.61% to 5,844.61, while the Nasdaq Composite declined 1.41% to 18,872.64 during Wednesday's session.



Investors are awaiting earnings results from BJ&#8217;s Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), and Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 66.2, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 68.7.



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.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45540545/jim-cramer-recommends-not-buying-mosaic-doesnt-like-this-industrial-stock">Jim Cramer Recommends Not Buying Mosaic, Doesn&#8217;t Like This Industrial Stock</a> </li>
</ul>



Photo courtesy: Shutterstock

Dow Tumbles Over 800 Points Amid Weak Results, Fiscal Policy Concerns: Investor Sentiment Declines, Fear Index Remains In 'Greed' Zone

Two Israeli Embassy staff members died Wednesday evening in a targeted shooting near the Capital Jewish Museum in downtown Washington, D.C. Homeland Security Secretary Kristi Noem confirmed the fatalities, calling for justice against the &#8220;depraved perpetrator.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Two Israeli Embassy staff were senselessly killed tonight near the Jewish Museum in Washington DC. We are actively investigating and working to get more information to share. Please pray for the families of the victims. We will bring this depraved perpetrator to justice.&mdash; Secretary Kristi Noem (@Sec_Noem) <a href="https://twitter.com/Sec_Noem/status/1925390666441314737?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Israeli Embassy spokeswoman Tal Naim Cohen said staff were shot at &#8220;close range&#8221; outside a diplomatic reception. 



<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">&#x2A;Spokesperson at the Israeli embassy in Washington Tal Naim Cohen&#x2A;: Two staff members of the Israeli embassy were shot this evening at close range while attending a Jewish event at the Capital Jewish Museum in Washington DC. We have full faith in law enforcement authorities on…&mdash; Tal Naim (@TalNaim_) <a href="https://twitter.com/TalNaim_/status/1925394890952745329?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Israel&#8217;s UN Ambassador Danny Danon characterized the attack as &#8220;anti-Semitic terrorism,&#8221; stating, &#8220;harming diplomats crosses a red line.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The fatal shooting that took place outside the event that took place at the Jewish Museum in Washington, D.C. is a depraved act of anti-Semitic terrorism. Harming the Jewish community is crossing a red line. We are confident that the US authorities will take strong action against… <a href="https://t.co/mVyXHjGyxU">pic.twitter.com/mVyXHjGyxU</a>&mdash; Danny Danon &#x1f1ee;&#x1f1f1; דני דנון (@dannydanon) <a href="https://twitter.com/dannydanon/status/1925388251864379433?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The incident highlights escalating security threats against Jewish institutions nationwide. The museum recently received federal security grants due to rising antisemitism concerns. 



Attorney General Pam Bondi responded to the scene while Federal Bureau of Investigation Director Kash Patel confirmed federal assistance. Officials report no ongoing public safety threat.



<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 am on the scene of the horrible shooting outside the Washington, DC Capital Jewish Museum with <a href="https://twitter.com/USAttyPirro?ref_src=twsrc%5Etfw">@USAttyPirro</a>. Praying for the victims of this violence as we work to learn more.&mdash; Attorney General Pamela Bondi (@AGPamBondi) <a href="https://twitter.com/AGPamBondi/status/1925386917366911042?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<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">My team and I have been briefed on the shooting tonight in downtown DC outside the Capital Jewish Museum and near our Washington Field Office. While we're working with MPD to respond and learn more, in the immediate, please pray for the victims and their families. We will keep…&mdash; FBI Director Kash Patel (@FBIDirectorKash) <a href="https://twitter.com/FBIDirectorKash/status/1925395640835604530?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<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"><a href="https://twitter.com/hashtag/FBIWFO?src=hash&amp;ref_src=twsrc%5Etfw">#FBIWFO</a> has responded with our <a href="https://twitter.com/DCPoliceDept?ref_src=twsrc%5Etfw">@DCPoliceDept</a> partners to a shooting that occurred tonight on 3rd and F Streets NW. There is no ongoing threat to public safety. <a href="https://t.co/BPzoH9JFbH">pic.twitter.com/BPzoH9JFbH</a>&mdash; FBI Washington Field (@FBIWFO) <a href="https://twitter.com/FBIWFO/status/1925389573665767743?ref_src=twsrc%5Etfw">May 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Image Via Shutterstock



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<li><a href="https://www.benzinga.com/25/05/45557202/nvidia-founder-jensen-huang-surpassed-by-satoshi-nakamoto-in-personal-wealth-as-bitcoin-tops-111000">Bitcoin&#8217;s $111,000 Move Puts Satoshi Nakamoto Above Nvidia&#8217;s Jensen Huang In Personal Wealth &#8211; Where Would The Mysterious Crypto Founder Rank Among Global Billionaires?</a></li>
</ul>



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

Two Israeli Embassy Staff Killed In Shooting Near DC Museum

Major cryptocurrencies rode the wave of Bitcoin's fresh all-time highs on Wednesday, gaining momentum alongside the top coin by market capitalization.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.55%</td><td>$109,618.48</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.58%</td><td>$2,572.12</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.97%</td><td>$0.2375</td></tr></tbody></table></figure>



What Happened: The leading cryptocurrency broke $110,000 overnight, hours after officially bettering its previous high of $109,241 set on President Donald Trump's inauguration day. Bitcoin's trading volume spiked 136% over the last 24 hours.



The rally rubbed off on Ethereum as the second-largest cryptocurrency reentered the $2,600 region, with volumes surging by 51%.



Ethereum's dominance increased to 9%, while Bitcoin's market share narrowed marginally to 63.2%



Over $232 million in bearish shorts were erased in the last 24 hours, out of the total liquidations worth nearly $403 million.



Moreover, about $713 million in Bitcoin shorts were at further risk of liquidation if the leading cryptocurrency advanced to $112,000.



Bitcoin&#8217;s Open Interest soared 16.73% in the last 24 hours to a new record of $78.89 billion, suggesting heightened speculative interest. Over 50% of derivatives traders with open BTC positions bet in favor of BTC as of this writing.



The market retained the "Greed" sentiment, according to the Crypto Fear and Greed Index, indicating high buying interest.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:45 p.m. ET)</td></tr><tr><td>dogwifhat (WIF)</td><td>+12.19%</td><td>$1.11</td></tr><tr><td>Monero (XMR)</td><td>+11.64%</td><td>$391.35</td></tr><tr><td>Core (CORE)</td><td>+11.42%</td><td>$0.8544</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.41 trillion, following an increase of 1.93% in the last 24 hours.



Stocks sank further on Wednesday. The Dow Jones Industrial Average fell 816.80 points, or 1.91%, to end at 41,860.44. The S&amp;P 500 slid 1.61% to close at 5,844.61, while the tech-focused Nasdaq Composite dipped 1.41% to end at 18,872.64.



The sell-offs came after long-dated U.S. Treasuries <a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows">tumbled to their lowest levels</a> since October 2023, fueled by a weaker-than-expected bond auction and increasing deficit fears tied to Trump's proposed tax-cut plan.&nbsp;



The 30-year Treasury yield jumped above 5.08%, while the benchmark 10-year yield hit 4.61%.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Seasoned trader Peter Brandt described Bitcoin making a new high as &#8220;wonderful&#8221; and stated he was long.



"Bull markets make ATHs all the time. It is the definition of a bull market. On track maybe for top of $125,000 to $150,000 by end of August," Brandt speculated.



<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 think it is wonderful Bitcoin is making ATHs. I am long. I actually think ATHs is not technically significant Bull markets make ATHs all the time. It is the definition of a bull market On track maybe for top of $125,000 to $150,000 by end of August???? (Hey trolls, note the… <a href="https://t.co/8PDatXYGP2">pic.twitter.com/8PDatXYGP2</a>&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1925207233492869218?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Cryptocurrency analyst and trader Ali Martinez said BTC was entering a price discovery phase, with $116,000, $126,000, $136,000 and $148,000 being the "next key levels" to watch out.



<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"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is trading at new all-time highs, entering price discovery. The next key levels to watch are $116,000, $126,000, $136,000, and $148,000! <a href="https://t.co/yh3ShJ5X59">pic.twitter.com/yh3ShJ5X59</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1925316673911083149?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: alfernec on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



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Bitcoin Clocks $110,000, Ethereum, Dogecoin Extend Gains: Well-Known Trader Peter Brandt Says BTC Could Gain Another 37% As Soon As August

President Donald Trump announced Wednesday he is giving &#8220;very serious consideration&#8221; to taking mortgage finance giants Fannie Mae and Freddie Mac&nbsp;public, signaling potential privatization of the government-sponsored enterprises.



What Happened: In a Truth Social post, Trump said he will consult with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Federal Housing Finance Agency Director William Pulte before making a decision. &#8220;Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right,&#8221; Trump stated.



<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"><a href="https://t.co/kJK33mcTh3">pic.twitter.com/kJK33mcTh3</a>&mdash; U.S. Federal Housing (FHFA) (@FHFA) <a href="https://twitter.com/FHFA/status/1925335513386324136?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The mortgage giants, which underpin approximately half of the U.S. residential mortgage market, have generated substantial cash flows since their 2008 conservatorship, according to Reuters. Both companies operate as for-profit corporations with private shareholders, purchasing home loans from private lenders and repackaging them as mortgage-backed securities.



See Also: <a href="https://www.benzinga.com/news/earnings/25/05/45553121/snowflake-q1-earnings-revenue-eps-beat-estimates-ai-data-cloud-company-sees-25-growth-ahead-shares-climb">Snowflake Q1 Earnings: Revenue, EPS Beat Estimates, AI Data Cloud Company Sees 25% Growth Ahead, Shares Climb</a>



Why It Matters: Fannie Mae and Freddie Mac were placed under Federal Housing Finance Agency conservatorship during the 2008 financial crisis after suffering overwhelming losses from the housing market collapse. The government intervention prevented catastrophic economic effects but maintained federal control over the entities.



FHFA Director Bill Pulte recently fired Freddie Mac CEO Diana Reid and placed senior FHFA officials on administrative leave. Pulte also dismissed 14 board members from both companies and <a href="https://www.benzinga.com/politics/25/03/44436692/fannie-mae-freddie-mac-in-upheaval-as-trump-administration-considers-privatizing-mortgage-giants">appointed himself chairman of both entities</a>.



Billionaire investor Bill Ackman of Pershing Square Capital Management has <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">recommended both companies as investments</a>, stating in December that he expects them to exit conservatorship under the Trump administration. &#8220;Trump likes big deals and this would be the biggest deal in history,&#8221; Ackman wrote.



Image Via Shutterstock



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

Financing

FMCC

FNMA

Trump Considers Taking Fannie Mae, Freddie Mac Public, Calls Mortgage Giants 'Very Profitable,' Says Timing Seems Right

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>.



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Photo: Shutterstock.

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: 



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Photo: Shutterstock

Mid Cap

Small Cap

ALAB

COIN

CRDO

CRWV

HIMS

HOOD

KNSL

MBLY

MSTR

NVDA

RKLB

SMCI

SMMT

TTAN

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

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