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NDAQ

SET And Nasdaq Deepen Strategic Collaboration To Align Thailand's Capital Markets With Global Standards And AI-Driven Innovation

Macro Economic Events

Econ #s

Economics

U.K. Unemployment Rate For March 4.5% Vs. 4.5% Est.; 4.4% Prior

U.K. Employment Change 3M/3M (MoM) For March 112K Vs. 120K Est.; 206K Prior

U.K. Claimant Count Change For April 5.2K Vs. 22.3K Est.; -16.9K (Revised) Prior

U.K. Average Earnings Index +Bonus For March 5.5% Vs. 5.2% Est.; 5.7% (Revised) Prior

IPHA

Innate Pharma Reports Q1 Revenue Of €1.2M, €72.5M Cash Position Excluding €15M Sanofi Investment; Highlights Progress Across ANKET® And ADC Programs With Runway To Mid-2026

The <a href="https://www.benzinga.com/markets/equities/25/05/45341884/apple-amazon-nvidia-rise-in-monday-premarket-as-us-china-agree-to-90-day-tariff-truce-neither-side-wants-a-decoupling">90-day pause</a> on tariffs between the U.S. and China has resulted in a rally and positive market sentiment. However, experts caution that this reprieve is not a definitive end to the trade war, leaving significant uncertainty over the long term.
What Happened: According to John Murillo, Chief Dealing Officer of B2BROKER, a global fintech solutions provider, the news triggered an immediate positive market response. &#8220;Stocks and oil prices have rebounded – apparently, in reaction to the news, which can lead to lower costs for businesses and consumers,&#8221; Murillo noted.
The mutually agreed-upon <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">reduction in tariffs</a> mirrors a similar scenario observed last week during negotiations between the U.S. and the U.K., raising hopes for a potential kickstart to global trade and economic activity.
Despite the initial positive action following the announcement, Murillo emphasized the temporary nature of the agreement. &#8220;Now, while the 90-day pause is a big step towards easing tensions, it's crucial to remember that it doesn't guarantee a complete resolution of the trade war.&#8221;
He underscored that the market will closely monitor the ongoing negotiations within the upcoming 90 days to determine whether the tariffs will be permanently reduced or reinstated.
Murillo stressed that some factors need to be studied and resolved before a conclusive end to the trade dispute can be declared. &#8220;There's undoubtedly an issue of the U.S. goods' competitive pricing and Chinese customers' propensity to consume them in bulk volumes, which have not been studied and addressed yet to call it quits,&#8221; he said.
See Also: <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">US-China Tariff Truce Will Alleviate &#8216;Worst Fears,&#8217; But Prevent Falling Yields, Keeping &#8216;Economy Under Pressure,&#8217; Says Craig Shapiro</a>
Why It Matters: Economic indicators will be a reflection of how these negotiations unfold. &#8220;If they (tariffs) come back or if negotiations fall through, we could face market volatility and a downturn in economic indicators,&#8221; explained Murillo.
Looking ahead, Murillo anticipates continued volatility in Treasury yields throughout the 90-day pause. &#8220;Treasury yields might experience more volatility, becoming quite sensitive to any news – whether affirmative or refuting – related to the trade negotiations and shifts in investor sentiment.&#8221;
Craig Shapiro, a macro strategist at the Bear Traps Report, reiterated the same. He believed that the so-called "tariff climb down" might <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">prevent bond yields from falling</a>, thereby maintaining pressure on an already strained economy as the Federal Reserve remains on the sidelines. 
According to him, inflationary effects from existing tariffs on aluminum, steel, and cars could continue to push up prices and inflation expectations, and this will prevent bond yields from falling, as investors demand higher yields to offset inflation risk and perceived economic uncertainty.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sticking with this call Tariff Climb down will alleviate the worst fears but the reality is that the cave will make it hard for yields to fall which keeps the economy under pressure as the Fed sits on its hands. <a href="https://t.co/BdWKBOUf8o">https://t.co/BdWKBOUf8o</a>
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1921845051589640249?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
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Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, jumped with joy on Monday. The SPY was up 3.30% to $582.99, while the QQQ advanced 4.07% to $507.85, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Tuesday, the futures of the Dow Jones, S&amp;P 500, and Nasdaq 100 indices were trading lower.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45344120/cathie-wood-says-ai-innovation-in-healthcare-will-be-more-profound-than-autonomous-taxi-networks-humanoid-robots">Cathie Wood Says AI Innovation In Healthcare Will Be More &#8216;Profound&#8217; Than Autonomous Taxi Networks, Humanoid Robots</a></li>
</ul>
Photo courtesy: plavi011 / Shutterstock.com

Analyst Color

Equities

Government

Macro Notification

Market Summary

Regulations

Broad U.S. Equity ETFs

Futures

Treasuries

Markets

Analyst Ratings

ETFs

General

S&P 500 Rallies Over 3% On US-China 90-Day Tariff Truce, But Experts Warn It 'Doesn't Guarantee A Complete Resolution Of The Trade War'

<ul>
<li>Galapagos to re-evaluate the implementation of the previously announced separation following regulatory and market developments</li>
<li>Galapagos to explore all strategic alternatives for its existing businesses, including cell therapy, with a focus on maximizing resources available for transformative business development transactions</li>
<li>Mr. Henry Gosebruch appointed by the Galapagos Board of Directors as CEO of Galapagos, effective immediately, succeeding Dr. Paul Stoffels who announced his retirement in April 2025</li>
<li>Mr. Jérôme Contamine, formerly Lead Non-Executive Director, has been appointed Chair of the Board of Directors of Galapagos, replacing Dr. Paul Stoffels</li>
</ul>

GLPG

Galapagos Re-Evaluates Proposed Separation Amid Regulatory And Market Shifts, Explores Strategic Alternatives For Cell Therapy Business; Henry Gosebruch Named Galapagos CEO

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a new artificial intelligence-powered battery optimization tool for iOS 19.
What Happened: The feature is part of the Apple Intelligence platform, which will use machine learning to analyze how users are interacting with their iPhones and then automatically adjust power consumption, <a href="https://www.bloomberg.com/news/articles/2025-05-12/apple-plans-ai-powered-battery-management-mode-for-devices-in-ios-19">reported</a> Bloomberg, citing people with knowledge of the matter.
The move comes as Apple plans to debut a thinner iPhone 17 model in September. The <a href="https://www.benzinga.com/tech/25/03/44348175/apples-iphone-17-air-to-usher-in-new-era-of-slimmer-portless-models">device dubbed</a> "iPhone 17 Air" will reportedly have a smaller battery than current models.
See Also: <a href="https://www.benzinga.com/general/entertainment/25/05/45311978/tim-cooks-apple-tv-cameo-rejected-by-seth-rogen-opts-for-netflixs-ted-sarandos-instead-we-said-no">Tim Cook&#8217;s Apple TV+ Cameo Rejected By Seth Rogen, Opts For Netflix&#8217;s Ted Sarandos Instead: &#8216;We Said No&#8217;</a>
The new AI feature is designed to make up for this slimmer device's limited battery capacity, the report said. Although the feature will be available on all iPhones with the iOS 19 update.
Why It's Important: In March, Bloomberg columnist Mark Gurman described the iOS 19 software update as "<a href="https://www.benzinga.com/markets/equities/25/03/44240980/iphones-after-ios-19-will-feature-a-very-different-look-heres-whats-apple-might-change">one of the most dramatic</a> software overhauls" ever in Cupertino's history. It could feature updates in icons, menus, apps, system buttons and windows.
Apple reportedly plans to complete the beta version of iOS 19 by the end of this month and release it for developers at its annual Worldwide Developers Conference on June 9.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Traditionally, Apple has made new software available to the public in September along with the latest iPhone launch.&nbsp;
On Monday, the Tim Cook-led company also rolled out iOS 18.5.
Price Action: According to <a href="http://pro.benzinga.com/">Benzinga Pro</a>, Apple shares rose 6.31% on Monday but dipped 0.20% in after-hours trading.
Benzinga Edge Stock Rankings awarded Apple a growth score of 46.18%, highlighting its solid market momentum. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other top-performing stocks</a>.
Photo Courtesy: EugeneEdge On Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45275079/bob-iger-admits-marvel-lost-focus-by-making-too-much-content-saying-quantity-does-not-necessarily-beget-quality-heres-what-disney-plans-to-do-now" target="_blank" rel="noreferrer noopener">Bob Iger Admits Marvel Lost Focus By Making Too Much Content, Saying ‘Quantity Does Not Necessarily Beget Quality' — Here's What Disney Plans To Do Now</a></li>
</ul>

Tech

Media

AAPL

Apple Reportedly Leans On AI To Boost iPhone Battery Life In iOS 19 Ahead Of Launching Thinner iPhone 17 This Fall

The Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) meme coin project shortlisted the top 220 holders eligible for an exclusive dinner with President Donald Trump on Monday, with top wallets linked to foreign entities.
What Happened: The meme coin&#8217;s official website posted the <a href="https://trumpdinner.gettrumpmemes.com/">leaderboard</a>, stating, &#8220;President Trump will see YOU on May 22 at the Gala Dinner in Washington D.C.&#8221;
The top position on the leaderboard, with about $17.68 million in Trump&#8217;s meme coin, is associated with a wallet named &#8220;SUN,&#8221; which, according to Lookonchain, is owned by Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder and cryptocurrency billionaire Justin Sun.
Interestingly, Sun is also a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment" target="_blank" rel="noreferrer noopener">leading investor and advisor</a> at World Liberty Financial, the decentralized finance platform backed by the Trump family.
Sun has been a <a href="https://www.benzinga.com/content/44543856/justin-sun-features-on-forbes-cover-talks-crypto-and-trump-linked-investments">controversial figure</a> and faced legal pressures from the SEC on charges of fraud and market manipulation. Earlier in February, both parties—Sun and the SEC—requested a 60-day stay in the proceedings to explore a potential resolution.
Sun didn&#8217;t immediately return Benzinga&#8217;s request for comment.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Looks like Justin Sun(<a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw">@justinsuntron</a>) has registered for the <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> dinner. He currently holds 1,176,803 <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a>($14.32M), ranking #1 on the leaderboard.<a href="https://t.co/B1A5TJ4mjI">https://t.co/B1A5TJ4mjI</a> <a href="https://t.co/moQxw3DiDd">pic.twitter.com/moQxw3DiDd</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1915584603164991912?ref_src=twsrc%5Etfw">April 25, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45358308/bitcoin-ethereum-dogecoin-slip-while-xrp-holds-firm-is-a-pullback-coming" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slip While XRP Holds Firm: Is A Pullback Coming?</a>
The second-largest holder, with approximately $17.18 million,&nbsp;is the Singaporean cryptocurrency startup&nbsp;MemeCore,&nbsp;a Forbes <a href="https://fortune.com/crypto/2025/05/12/trump-memecoin-dinner-justin-sun-memecore-kain-warwick/">report </a>said, citing the firm&#8217;s public X posts. It also highlighted the entry of Kain Warwick, an Australian crypto investor, into the top 220.
Why It Matters: The exclusive gala dinner has raised concerns about the potential for corruption, with critics arguing that it allows wealthy and possibly foreign actors to buy access to the former president. 
It <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him">triggered a call</a> for impeachment from Sen. Jon Ossoff (D-Ga.). Moreover, Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.) requested that the U.S. Office of Government Ethics investigate Trump's potential violation of federal ethics regulations
The project, 80% of whose supply is controlled by an affiliate of the&nbsp;Trump Organization,&nbsp;emphasizes that TRUMP is not a political initiative or investment opportunity but an expression of support for Trump's ideals.
Price Action: At the time of writing, TRUMP was exchanging hands at $12.45, down 10.06 in the last 24 hours, and over 77% over the week, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Since its peak, the meme coin has fallen 83.63%.
Photo Courtesy: Christopher Sciacca on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45366192/dogwifhat-bucks-bitcoin-dogecoin-dip-with-a-5-rally-whats-going-on" target="_blank" rel="noreferrer noopener">Dogwifhat Shoots Up 5%: What&#8217;s Going On?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Politics

$TRUMP

$TRX

Trump Memecoin Exclusive Dinner Guest List Revealed With Justin Sun Shining At The Top: Report

A fire at an abandoned multi-story mattress warehouse near West Baltimore station on Monday evening has suspended all regional rail service, affecting thousands of commuters. Amtrak halted trains between Washington, D.C., and Wilmington, including BWI Airport connections, while MARC commuter lines also face disruptions.
&#8220;No time has been given as to when tracks will re-open,&#8221; Amtrak Northeast announced on social media. Fire crews responded shortly before 7:00 p.m., with no injuries reported, according to Baltimore Fire spokesperson John Marsh, <a href="https://edition.cnn.com/2025/05/13/us/fire-baltimore-mattress-warehouse-halts-trains-hnk">reported</a> CNN.
Fire Chief James Wallace noted that the warehouse&#8217;s proximity to electrified train tracks has complicated firefighting efforts. City officials say emergency teams are working with rail authorities to safely cut power before approaching the blaze from the track side.
Photo Courtesy: Volodymyr TVERDOKHLIB on Shutterstock.com
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45366281/bitcoin-ethereum-dogecoin-retreat-stocks-rally-after-us-china-tariff-de-escalation-analyst-sees-opportunity-in-2100-2250-if-eth-corrects">Bitcoin, Ethereum, Dogecoin Retreat, Stocks Rally After US-China Tariff De-Escalation: Analyst Sees Opportunity In $2,100-2,250 If ETH Corrects</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Fire At Abandoned Mattress Warehouse Near West Baltimore Station Disrupts Amtrak And Marc Service, Affects Thousands Of Commuters

Ballys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALY#NYSE">BALY</a>) reported quarterly losses of $(0.48) per share which beat the analyst consensus estimate of $(0.53) by 9.43 percent. This is a 86.7 percent increase over losses of $(3.61) per share from the same period last year. The company reported quarterly sales of $589.20 million which missed the analyst consensus estimate of $603.66 million by 2.40 percent. This is a 4.73 percent decrease over sales of $618.48 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

BALY

Ballys Q1 EPS $(0.48) Beats $(0.53) Estimate, Sales $589.20M Miss $603.66M Estimate

Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For April 6.8% Vs. 2.4% Est.; 0.9% Prior

Reported Earlier, National Australia Bank Business Confidence For April -1 Vs. -2 (Revised) Prior

CNBC's Jim Cramer urges investors to grab the armrest, not the eject button, after Washington and Beijing agreed to slash punitive duties for 90 days on Monday.
What Happened: &#8220;It's better to stay in, stay on and let her ride than to try to pick the perfect moment to trade in and out of the stock market,&#8221; Cramer said, according to a CNBC <a href="https://www.cnbc.com/2025/05/12/jim-cramer-says-its-better-to-stay-in-stay-on-and-let-her-ride-in-this-market-.html">report</a>. &#8220;That's not much of a strategy. It's much more a game of chicken where there are no winners,&#8221; he added.
Cramer noted how quickly traders reversed recession bets that had dominated screens only a week earlier. Tech names expected to bear the brunt of tariff pain <a href="https://www.benzinga.com/tech/25/05/45357613/china-tariff-de-escalation-biggest-winners-include-tesla-apple-new-tech-highs-back-on-the-table-now-for-2025?_gl=1&#x2A;hxhm4q&#x2A;_gcl_au&#x2A;Njk0ODEyNDAxLjE3NDA0NTQxMzE.&#x2A;_ga&#x2A;R1MxLjEuMTc0NDM1NzIyNC4xLjAuMTc0NDM1NzIyNC4wLjAuMA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NDcxMDcwNzYkbzI2JGcxJHQxNzQ3MTA4Nzc5JGowJGwwJGgw">soared</a> — Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/25/05/45358770/apple-stock-rises-following-us-china-trade-breakthrough">leapt</a> 6.2% and Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose 4%, helping the Philadelphia Semiconductor Index climb 5.9%. The buying spree spilled into industrials and <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45360068/bank-stocks-rise-as-uschina-tariff-truce-lifts-market-confidence-whats-going-on">banks</a>.
"Safety" plays told the other side of the story. Gold slid more than 3%, and the dollar strengthened against the yen and Swiss franc as haven demand evaporated.
See also: <a href="https://www.benzinga.com/25/05/45365487/coinbase-rigetti-nvidia-meta-and-tesla-why-these-5-stocks-are-on-investors-radars-today">Coinbase, Rigetti, Nvidia, Meta, And Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Cramer warned that short-sellers angling for a quick reversal could get steamrolled. "We see how easily stocks can rally — isn't it a little dangerous to be that short?" he asked, arguing that Monday's pop proved policy shocks can rescue battered portfolios faster than traders can reposition.
Why It Matters: Wedbush analyst Dan Ives called Monday&#8217;s stock surge a "dream scenario" for tech investors. The Trump administration&#8217;s move to back off from its tariff regime against China also <a href="https://www.benzinga.com/25/05/45365521/larry-summers-says-trump-blinked-on-china-tariffs-sometimes-its-good-to-blink-as-markets-breathe-a-sigh-of-relief">gained praise</a> from an &#8220;encouraged&#8221; Former Treasury Secretary Larry Summers.
The Dow Jones Industrial Average — as tracked by the Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) — surged 2.8%, or more than 1,100 points. By mid-afternoon, it reached 42,385 — its second-best day in the past six months, eclipsed only by the 7.8% rally on April 9 when President Donald Trump announced the <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">tariff suspension</a>.
Photo courtesy: katz / Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/25/05/45366183/craig-shapiro-sees-market-kryptonite-in-delayed-fed-liquidity-dot-plot-reversal-ahead-as-china-trade-risks-recede">Craig Shapiro Sees &#8216;Market Kryptonite&#8217; In Delayed Fed Liquidity, Dot Plot Reversal Ahead—As China Trade Risks Recede</a>

SPDR Dow Jones Industrial Average ETF Trust

NVDA

Jim Cramer Says 'Sit Tight' As China Tariff Pause Creates 'Game Of Chicken' That Could Steamroll Market Timers

Activist investor Elliott Investment Management scored a victory on Monday when Institutional Shareholder Services recommended investors elect all four of Elliott&#8217;s director nominees to the Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) board, bolstering the hedge fund&#8217;s campaign for strategic changes at the oil refiner.
What Happened: Elliott, which <a href="https://www.benzinga.com/markets/equities/25/02/43614105/activist-investor-elliott-builds-25-billion-stake-in-phillips-66-pressures-for-midstream-spinoff-report">holds a $2.5 billion stake in Phillips 66</a>, has urged the company to divest its midstream business. Proxy advisory firm ISS backed all four of Elliott's board nominees, joining Glass Lewis and Egan-Jones in supporting the activist's push ahead of the May 21 shareholder vote, Reuters reported.
ISS is a top proxy advisory firm whose recommendations guide major investors on corporate votes, often swaying outcomes in boardroom battles.
&#8220;Although the board has been reshaped since the pandemic, important industry perspectives have been overlooked, and there is strong evidence that the board is not willing to exercise independent oversight of management,&#8221; ISS wrote in its report.
The proxy advisor also challenged Phillips 66&#8217;s argument that its integrated strategy delivers superior returns, noting the stock began underperforming peers in mid-2021 and &#8220;has not been able to close the gap.&#8221; PSX shares have dropped 18% over the past 52 weeks, closing at $118.68 on Monday.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45366281/bitcoin-ethereum-dogecoin-retreat-stocks-rally-after-us-china-tariff-de-escalation-analyst-sees-opportunity-in-2100-2250-if-eth-corrects">Bitcoin, Ethereum, Dogecoin Retreat, Stocks Rally After US-China Tariff De-Escalation: Analyst Sees Opportunity In $2,100-2,250 If ETH Corrects</a>
Why It Matters: Elliott first disclosed its investment in Phillips 66 in February, expanding from an initial $1 billion position that had already secured a board seat for refining veteran Robert Pease last year. The activist fund&#8217;s larger stake now places it among Phillips 66&#8217;s top five shareholders.
The hedge fund, <a href="https://www.benzinga.com/news/24/08/40411028/elliott-management-alums-spawn-their-offshoots-amid-rigid-changes-and-increased-bureaucracy-at-70b-h">which manages $70 billion</a>, has a strong track record in the energy sector with successful investments at Marathon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>), Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>) and Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>).
Elliott said the ISS report &#8220;fully validates Elliott&#8217;s case for change,&#8221; according to the report. 
Photo Courtesy: Ken Wolter on Shutterstock.com
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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.

Elliott Management Scores Key Win In Phillips 66 Proxy Fight As ISS Backs All Four Board Nominees Ahead Of May 21 Vote

On Monday, Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) <a href="https://www.benzinga.com/tech/25/01/43155074/samsung-teases-galaxy-s25-edge-to-take-on-apples-rumored-iphone-17-air">launched the</a> Galaxy S25 Edge, a 5.8 mm-thin, 163-gram smartphone, just four months after unveiling the rest of the S25 series.
What Happened: The ultra-slim device features a 6.7-inch display, a dual-camera system, and the company's latest AI-powered features.&nbsp;
The Galaxy S25 Edge packs a powerful 200MP main camera, offering ultra-high resolution for detailed photos in any lighting condition. A secondary 12MP ultra-wide lens with autofocus enables crisp macro shots.
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44897214/nvidia-discusses-ai-powering-future-with-japan-amid-rising-energy-demands" target="_blank" rel="noreferrer noopener">Nvidia's Jensen Huang Meets Japanese PM To Discuss AI's Growing Energy Needs</a>
It also brings AI-powered editing tools to the table, including Audio Eraser, which removes unwanted background noise from videos and Drawing Assist, a feature designed to enhance or correct hand-drawn sketches.
Under the hood, the S25 Edge runs on Qualcomm Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) Snapdragon 8 Elite Mobile Platform.
Price and Availability: Preorders for the Samsung Galaxy S25 Edge are now open at Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Best Buy Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>), Samsung.com and major U.S. carriers. The phone will be available in stores on May 30, 2025.
Pricing starts at $1,099.99 for 256GB and $1,219.99 for 512GB, with color options including Titanium Silver, Titanium Jet Black and Titanium Icy Blue.
Interested buyers can preorder by May 30 on Samsung.com or the Shop Samsung app to get up to $800 in savings, including a $50 credit and a free upgrade from 256GB to 512GB (a $120 value). People can also trade in an eligible device for up to $630 off.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1000" height="666" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12232749/ss.jpg" alt="" class="wp-image-912754" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12232749/ss.jpg 1000w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12232749/ss-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12232749/ss-768x511.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption class="wp-element-caption">Source: Samsung</figcaption></figure>
Why It's Important: The launch comes outside of Samsung's typical product cycle and underscores a strategic pivot.
During the company's latest earnings call, Daniel Araujo, vice president of Samsung's mobile division, warned of softening demand in the second quarter due to "seasonality trends" and the potential impact of global tariffs, <a href="https://www.cnbc.com/2025/05/12/samsung-galaxy-s25-edge-launch-specs-price-availability.html">reported</a> CNBC.
The U.S. briefly imposed reciprocal tariffs on tech goods in April, but exemptions for smartphones and chips offered a temporary reprieve. A new agreement between the U.S. and China on Monday <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">paused most remaining tariffs</a>, creating a narrow window of opportunity for global manufacturers, the report added.
Analysts say the timing may also be aimed at beating Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which is <a href="https://www.benzinga.com/tech/25/03/44348175/apples-iphone-17-air-to-usher-in-new-era-of-slimmer-portless-models">rumored to release its own thin</a> flagship, the iPhone 17 Air, in September.
"Samsung is first out the gate with a slim design," Ben Wood, chief analyst at CCS Insight, told the publication. "It is hard to believe this is not a pre-emptive strike following widespread speculation that Apple will have a thin iPhone in its next line-up."
Photo Courtesy: tinhkhuong On Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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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.

AMZN

QCOM

SSNLF

Samsung Blindsides Apple With Razor-Thin Galaxy S25 Edge: Here's How Much It Will Cost

Leading cryptocurrencies corrected on Monday even as the U.S. and China slashed tariffs to avert a trade war.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:15 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.98%</td>
<td>$102,569.21</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>-2.64%</td>
<td>$2,468.88</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>-5.47%</td>
<td>$0.2254</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin witnessed a big sell-off after the market opened, slipping below $101,000, but recovered to the mid-$102,000s by evening.
Ethereum traders also cashed in, dragging its price to $2,411.59 before a recovery late evening.
Bitcoin's market dominance fell further to 61.9%, while Ethereum's share rose to 9.1%, suggesting rotation of capital away from the apex cryptocurrency.
The pullback resulted in liquidations worth more than $690 million in the last 24 hours, with long liquidations accounting for $489 million.
Bitcoin's Open Interest dropped 0.73% in the last 24 hours. Meanwhile, bets against the cryptocurrency in the Binance derivatives market fell sharply, although the majority were still bearish.
"Greed" sentiment prevailed in the market, according to the Crypto Fear and Greed Index.
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 9:15 p.m. ET)</td>
</tr>
<tr>
<td>Dogwifhat (WIF)</td>
<td>+15.56%</td>
<td>$1.12</td>
</tr>
<tr>
<td>Four (FORM)</td>
<td>+5.67%</td>
<td>$2.81</td>
</tr>
<tr>
<td>XRP (XRP)</td>
<td>+3.66%</td>
<td>$2.49</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.29 trillion, following a 1.93% decline in the last 24 hours.
Stocks started the fresh trading week with a bang. The Dow Jones Industrial Average soared 1,160.72 points, or 2.81%, to end at 42,410.10. The S&amp;P 500 rose 3.26% to close at 5,844.19, while the tech-focused Nasdaq Composite popped 4.35% to end at 18,708.34.
The surge came after the U.S. and China <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">agreed to slash their retaliatory tariffs</a> by over 100 percentage points, allaying concerns of a trade war.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst and trader Michaël van de Poppe said he would be interested in the $2,100-$2,250 area if Ethereum sees a pullback.
"I expect shallow corrections, but would be diving into these as opportunities," the trader revealed his strategy.
<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">If the markets provide a correction, then I&#39;d be interested in anything between $2,100-2,250 for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. I expect shallow corrections, but would be diving into these as opportunities. <a href="https://t.co/MiGFhSQ90P">pic.twitter.com/MiGFhSQ90P</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1922001579697140076?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed analyst, Rekt Capital, noted that ETH has reclaimed the $2200-$4000 macro range and will "likely" lift across the range over time.
"Any dips, if needed at all, would only solidify $2,200 as range low support," the analyst predicted.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Key Ethereum Weekly Close secured Ethereum has reclaimed the $2200-$4000 Macro Range History suggests that over time, Ethereum is likely to lift across the Range Any dips, if needed at all, would only solidify $2200 as Range Low support<a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://t.co/gtM5xcZnwp">https://t.co/gtM5xcZnwp</a> <a href="https://t.co/fyGlz8qeFJ">pic.twitter.com/fyGlz8qeFJ</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1921875905082704365?ref_src=twsrc%5Etfw">May 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: alfernec on Shutterstock.com
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Bitcoin, Ethereum, Dogecoin Retreat, Stocks Rally After US-China Tariff De-Escalation: Analyst Sees Opportunity In $2,100-2,250 If ETH Corrects

House Republicans on Monday introduced legislation to eliminate the electric vehicle tax credit and repeal fuel efficiency rules, potentially disrupting billions in automaker investments amid growing <a href="https://www.benzinga.com/tech/25/05/45277309/house-gop-representatives-want-to-axe-federal-ev-credit-amid-trumps-tax-cuts-report">industry concerns about abrupt policy changes</a>.
What Happened: The proposal, scheduled for a House Ways and Means Committee hearing on Tuesday, would terminate the $7,500 new-vehicle tax credit and $4,000 used-vehicle credit on December 31, though it extends the new-vehicle credit one year for automakers that haven&#8217;t reached 200,000 EV sales, Reuters reported.
While preserving the crucial battery production tax credit, the bill adds a provision barring credits for vehicles using components from Chinese companies or made under Chinese licensing agreements starting in 2027. This could impact automakers like Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) that utilize Chinese battery technology, the report noted.
The legislation would also rescind any unobligated funding from an advanced technology vehicle loan program that recently finalized several major deals, including $9.63 billion to Ford-SK On joint venture, $7.54 billion to Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>)-Samsung SDI venture, and $6.57 billion to Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45353863/new-inflation-data-hits-tuesday-why-it-could-kill-fed-rate-cut-hopes">New Inflation Data Hits Tuesday: Why It Could Kill Fed Rate Cut Hopes</a>
Why It Matters: Electric Drive Transportation Association President Genevieve Cullen criticized the proposal as &#8220;catastrophically short-sighted,&#8221; arguing it would deliver &#8220;an enormous market advantage&#8221; to competitors like China while threatening U.S. manufacturing jobs.
The move aligns with comments from House Speaker Mike Johnson, <a href="https://www.benzinga.com/tech/25/05/45277309/house-gop-representatives-want-to-axe-federal-ev-credit-amid-trumps-tax-cuts-report">who recently stated</a>, &#8220;I think there is a better chance we kill it than save it,&#8221; regarding the EV credit program. Industry experts project the incentives could cost $200 billion over the next decade.
Major U.S. automakers, including General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford, have urged the President Donald Trump administration to phase out credits gradually rather than <a href="https://www.benzinga.com/markets/25/02/43648415/tesla-rivals-call-for-gradual-elimination-of-ev-tax-credits-many-of-those-jobs-will-be-at-risk">eliminate them immediately</a>, warning that jobs in the growing &#8220;Battery Belt&#8221; across 12 states could be at risk. 
The U.S. has already committed <a href="https://www.benzinga.com/markets/25/02/43648415/tesla-rivals-call-for-gradual-elimination-of-ev-tax-credits-many-of-those-jobs-will-be-at-risk">approximately $200 billion</a> to create 200,000 EV-related jobs.
Photo Courtesy: Natee Meepian On Shutterstock.com
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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.

RIVN

STLA

TSLA

Republicans Target EV Perks With New Bill: Ford, Tesla, Rivian Face Fallout As $200 Billion In Battery Belt Investments Hang In Balance

Dog-themed meme coin Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) continued its upward march Monday, leaving market heavyweights trailing.
What happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token spiked over 5% to become the second-biggest cryptocurrency gainer over the last 24 hours. Its trading volume popped 176% to $1.64 billion, making it one of the most traded meme coins in the 24-hour period.
WIF defied the pullback in blue-chip currencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which fell 1.88% and 6.51%, respectively.
Notably, the memecoin's Open Interest slid 2.34% in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass. Typically, a decline in Open Interest combined with a price increase implies that shorts were covering their positions.
Furthermore, over 70% of Binance traders with open WIF positions were long as of this writing, signaling that the rally would sustain..
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45339966/bitcoin-creator-satoshi-nakamotos-estimated-wealth-crosses-bill-gates-amid-apex-cryptos-sharp-rebound">Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator&#8217;s Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto&#8217;s Sharp Rebound</a>
Meanwhile, the Relative Strength Index, used to determine if the asset is overbought or oversold, flashed a "Sell" signal for the coin, <a href="https://in.tradingview.com/symbols/WIFUSD/technicals/">according </a>to TradingView. To the contrary, the Moving Average Convergence Divergence, which compares two exponential moving averages of price, generated a "Buy."
Price Action:&nbsp; At the time of writing, WIF was exchanging hands at $1.09, up 5.12% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin has lost 41.26%.
Photo Courtesy: Akif CUBUK On Shutterstock.com
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$SOL

$WIF

Dogwifhat Shoots Up 5%: What's Going On?

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