Shareholders of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) approved the <a href="https://www.benzinga.com/markets/tech/25/11/48646723/ross-gerber-says-tsla-stock-dilution-would-be-equivalent-to-275-million-day-if-elon-musks-pay-package-passes">trillion-dollar pay package</a> for CEO Elon Musk during the company's annual shareholder meeting.



Check out the current price of TSLA <a href="https://benzinga.com/quote/TSLA">here</a>.



<h2 class="wp-block-heading">75% In Favor Of The Pay Package</h2>



Over 75% of the automaker's total shareholders voted in favor of approving the pay package during the shareholder meeting on Thursday, Tesla announced. The package puts Musk on track to become the first-ever trillionaire in history, provided he can achieve the goals outlined in the package.



Musk thanked the shareholders for voting in favor, despite opposition from proxy advisors like Institutional Shareholder Services (ISS) and Glass Lewis, whom Musk had <a href="https://www.benzinga.com/markets/tech/25/10/48371707/elon-musk-calls-proxy-advisor-firms-opposing-his-trillion-dollar-pay-corporate-terrorists-accuses-them-of-voting-on-random-political-lines">called "corporate terrorists"</a> during Tesla's third-quarter earnings call, as well as the <a href="https://www.benzinga.com/markets/tech/25/10/48345724/ross-gerber-calls-elon-musks-pay-packet-insanity-questions-whether-anyone-on-tesla-board-negotiated-the-trillion-dollar-salary">automaker's major investors</a>, including Norway's <a href="https://www.benzinga.com/markets/tech/25/11/48614112/elon-musks-1-trillion-tesla-pay-deal-opposed-by-worlds-largest-wealth-fund">Sovereign Wealth Fund</a> NBIM and the California Public Employees' Retirement System (CalPERS).



<h2 class="wp-block-heading">FSD, Optimus Push</h2>



On Full Self-Driving (FSD), Musk reiterated that the company's autonomous tech was progressing and the automaker could allow "in the next month or two," Tesla owners to "text and drive essentially." It's worth noting that the technology is currently <a href="http://www.benzinga.com/trading-ideas/movers/25/10/48129383/tesla-stock-is-trading-lower-thursday-whats-driving-the-action">under investigation by NHTSA</a>.



The billionaire also highlighted the importance of the <a href="https://www.benzinga.com/markets/tech/25/11/48644740/top-analyst-predicts-major-tsla-dip-calls-elon-musk-led-ev-giants-autonomous-ride-hailing-service-a-glorified-taxi-people-will-be-sick">Optimus robot for Tesla</a>, calling it "the biggest product of all time by far," during the meeting. Musk also said that the product would be bigger than cell phones.



During the event, the CEO claimed that everyone would want "their own personal R2D2 or C3PO." Musk also announced plans for a production line of 1 million units for Optimus at Tesla&#8217;s Fremont facility in California, as well as a 10-million capacity line at the Gigafactory in Texas.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1024x201.jpg" alt="" class="wp-image-1152844" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06221731/TSLA-NOV-7-2025.jpg 1559w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/11/48679366/tesla-roadster-3-years-away-from-production-could-sport-2-door-design-amid-elon-musks-unforgettable-demo-flying-car-claims-report">Tesla Roadster 3 Years Away From Production — Could Sport 2-Door Design Amid Elon Musk&#8217;s &#8216;Unforgettable Demo,&#8217; &#8216;Flying Car&#8217; Claims: Report</a></li>
</ul>



Photo courtesy: Shutterstock

Equities

Markets

Tech

TSLA

Elon Musk's Trillion-Dollar Pay Package Approved By Tesla Shareholders Amid AI, Robotics Push

Leading cryptocurrencies retraced on Thursday, while the market mood fell back into the &#8220;Extreme Fear&#8221; category.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-2.26%</td><td>$101,065.30</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>-3.10%</td><td>$3,296.29</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-5.90%</td><td>$2.19</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.79%</td><td>$154.94</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-2.54%</td><td>$0.1614</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Cryptos Lose Momentum</h2>



Bitcoin's relief rally was short-lived as the apex cryptocurrency fell back to an intraday low of $100,336.87. Ethereum, XRP and Solana also gave up their previous day&#8217;s gains.



Interestingly, JPMorgan analysts were optimistic about the asset in the near term, predicting it could <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48693117/jpmorgan-says-bitcoin-has-67-upside-sees-170000-within-next-6-months">rise to $170,000 </a>within 6 to 12 months.



Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.



In the past 24 hours, 196,202 traders were liquidated, with total cryptocurrency liquidations at $562.82 million, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass. Nearly $370 million in bullish longs was wiped out.



Bitcoin's open interest rose by 0.61% in the last 24 hours. A rise in open interest, coming alongside a dip in spot price, typically indicates that new short positions are getting opened.



The market switched back to "Extreme Fear" mode, <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 8:50 p.m. ET)</th></tr></thead><tbody><tr><td>DeAgent AI (AIA )&nbsp;&nbsp;&nbsp;</td><td>+377.26%</td><td>$7.84</td></tr><tr><td>Filecoin (FIL)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+55.53%</td><td>$2.11</td></tr><tr><td>Arweave (AR )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+39.78%</td><td>$5.89 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.38 trillion, falling 1.67% over the previous day.



<h2 class="wp-block-heading">Stocks Retreat Amid Skepticism Over Rate Cuts</h2>



Stocks came under pressure yet again on Thursday. The Dow Jones Industrial Average fell 398.70 points, or 0.84%, to end at 46,912.30. The S&amp;P 500 slid 1.12%, to finish at 6,720.32, while the tech-focused Nasdaq Composite closed down 1.9% to end at 23,053.99.



The decline comes after Chicago Federal Reserve President Austan Goolsbee <a href="https://www.cnbc.com/2025/11/06/chicago-feds-goolsbee-says-hes-cautious-about-further-rate-cuts-during-shutdown.html">expressed doubt about further rate cuts</a> in a CNBC interview, citing the prolonged government shutdown as the reason for lack of recent inflation data.



Investors were also keeping a tight eye on the Supreme Court&#8217;s decision on President Donald Trump&#8217;s tariffs, with the <a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">majority of justices looking skeptical </a>about his emergency powers



<h2 class="wp-block-heading">Watch Out For This Level</h2>



Arthur Azizov, founder and investor at B2 Ventures, admitted in a note to Benzinga that Bitcoin's decline is affecting broader cryptocurrency sentiment.



"Despite ongoing liquidity shortages and heightened investor caution, I believe the $100,000 level is likely to hold as Bitcoin's base in the near term," the analyst projected.



Azizov added that If the Fed really "resumes money printing earlier than expected," it could be a bullish signal for risk assets in the long run.



Widely followed cryptocurrency analyst Ali Martinez highlighted that Bitcoin has historically rebounded when realized losses fall below 12%.



"It's now at -11%, signaling a potential rebound ahead," Martinez 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">In the past two years, Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has always rebounded when traders' realized losses fell below -12%. It's now at -11%, signaling a potential rebound ahead! <a href="https://t.co/CB2ivOpJSr">pic.twitter.com/CB2ivOpJSr</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1986531030082461906?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48698794/cathie-woods-new-bitcoin-target-only-1-2-million-by-2030-and-stablecoins-are-to-blame">Cathie Wood&#8217;s New Bitcoin Target: &#8216;Only&#8217; $1.2 Million By 2030—And Stablecoins Are To &#8216;Blame&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Cryptocurrency

News

$BTC

$DOGE

$ETH

$SOL

$XRP

Bitcoin, Ethereum, XRP, Dogecoin Reverse Gains Amid Fed Rate Cut Uncertainty: Analyst Sees 'Potential Rebound' For BTC

Sen. Rand Paul (R-Ky.) issued a stark warning about the growing impact of tariffs on American farmers, calling them an unconstitutional exercise of presidential power that needs to be brought down, while urging the Supreme Court to intervene.



<h2 class="wp-block-heading">No Taxes Without Representation</h2>



On Wednesday, Paul criticized the use of executive authority to impose tariffs, arguing that such actions violate the Constitution's separation of powers, while appearing on Fox Business&#8217; &#8220;Varney &amp; Co.&#8221;



&#8220;I want to see the Constitution have meaning,&#8221; Paul said, adding that according to the Constitution, &#8220;taxes originate in the House,&#8221; and tariffs are a tax. &#8220;Anybody who tries to say tariffs are not a tax [are] just not serious.&#8221;



See Also: <a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">Supreme Court May Sink Trump&#8217;s Tariffs—But Don&#8217;t Expect Them To Disappear</a>



Paul emphasized that the Founding Fathers deliberately ensured that taxes were decided by Congress. &#8220;We fought the Revolution over taxation without representation,&#8221; he said, adding that &#8220;A president cannot levy taxes without the approval of Congress.&#8221;



The Kentucky senator said he expects the Supreme Court to strike down the tariffs, not as a political rebuke of President Donald Trump, but to preserve constitutional order. &#8220;I think the Supreme Court is gonna strike this down, and it&#8217;s not for any personal vendetta against the president,&#8221; he said. 



<h2 class="wp-block-heading">There Is &#8216;Farmageddon&#8217; Out There</h2>



He warned that the economic fallout of the tariffs is already visible across America's agricultural heartland. &#8220;Right now, farmers are faced with chaos,&#8221; he said. &#8220;There is a Farmageddon out there&#8230; particularly if you happen to be in soybeans. This year, the soybean crop is going to be largely lost.&#8221;



Paul concluded by expressing concern over growing financial distress in the farm sector, saying, &#8220;I am worried how deep this could get.&#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">I told <a href="https://twitter.com/Varneyco?ref_src=twsrc%5Etfw">@Varneyco</a> Obamacare subsidies are driving up premiums, tariffs are unconstitutional taxes, and farmers are facing "Farmageddon." Let's fix costs through market power, not government overreach. <a href="https://t.co/gcWDQptPiO">pic.twitter.com/gcWDQptPiO</a>&mdash; Rand Paul (@RandPaul) <a href="https://twitter.com/RandPaul/status/1986470997113856155?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Soybean Farmers Became Scapegoats In US-China Trade Tussle</h2>



American soybean farmers <a href="https://www.benzinga.com/markets/macro-economic-events/25/09/47637553/american-soybean-farmers-become-scapegoat-in-us-china-trade-tussle-plead-trump-for-bailout-unless-something-miraculous">became unwilling pawns</a> in the trade war between the U.S. and China after the latter ceased purchases of beans from the U.S., choosing to source the commodity from Brazil instead, in retaliation against Trump&#8217;s tariffs. 



Late last month, China <a href="https://www.benzinga.com/markets/commodities/25/10/48485186/china-reportedly-resumes-us-soybean-purchases-before-trump-xi-meeting">reportedly resumed purchases</a> of American soybeans, ahead of the high-stakes summit between Trump and Chinese President Xi Jinping. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/11/48678776/trump-will-use-supreme-courts-tariff-ruling-as-scapegoat-for-recession-says-economist-peter-schiff-court-is-doing-him-a-favor">Trump Will Use Supreme Court&#8217;s Tariff Ruling As &#8216;Scapegoat&#8217; For Recession, Says Economist Peter Schiff: Court Is Doing Him &#8216;A Favor&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Politics

Rand Paul Warns Of 'Farmageddon' As Tariffs Hit Farmers, Says Supreme Court Must Rein In Trump's Executive Tax Power

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) CEO Elon Musk is ramping up efforts to build an <a href="https://www.benzinga.com/markets/tech/25/09/47537686/elon-musk-announces-tesla-ai5-chip-design-review-success-amid-global-semiconductor-competition">in-house artificial intelligence chip</a>, the AI5, but Gene Munster warns that moving away from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) has proven far more difficult than Musk's ambitious projections suggest.



<h2 class="wp-block-heading">Elon Musk Says He ‘Dreams About Chips'</h2>



At Tesla's annual shareholder meeting on Thursday, Musk said he is "super hardcore on chips right now," underscoring that developing a custom AI chip is key to advancing Tesla's robotics and self-driving programs.



He stated that Tesla's upcoming AI5 chip will deliver roughly comparable performance to Nvidia's new Blackwell chip while using only one-third of the power and costing less than 10% as much.



Musk said Tesla's advantage comes from building chips specialized for its software stack rather than catering to a wide range of applications, as Nvidia must do.



He also highlighted Tesla's use of integer-based inference — which he described as more power and silicon-efficient than floating-point operations — though it requires specialized training.



The AI5 chip will be manufactured by both Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TSM">TSM</a>) and Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/quote/SSNLF">SSNLF</a>), with production spread across facilities in Taiwan, South Korea, Arizona and Texas.



Musk added that Tesla already has plans for the AI6 chip, expected to double performance within a year of AI5's rollout.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/10/48342136/teslas-1-trillion-illusion-elon-musks-pay-package-and-the-robotaxi-myth" target="_blank" rel="noreferrer noopener">Tesla&#8217;s $1 Trillion Illusion: Elon Musk&#8217;s Pay Package And The Robotaxi Myth</a>



<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">ELON MUSK: We believe the AI5 chip will be roughly comparable performance to an NVIDIA Blackwell, and at much less than 10% of the cost Transcription: I&#39;m super hardcore on chips right now as you may be able to tell. I have chips on the brain. I dream about chips, Literally!… <a href="https://t.co/O2yrmHOhN9">pic.twitter.com/O2yrmHOhN9</a>&mdash; X Freeze (@XFreeze) <a href="https://twitter.com/XFreeze/status/1986596668431851649?ref_src=twsrc%5Etfw">November 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Gene Munster Cautions Against Underestimating Nvidia</h2>



Deepwater Asset Management managing partner Munster reacted to Musk's comments, saying Tesla's goal to move away from Nvidia is easier said than done.



"Musk says they're building their own chip for inference, reducing the need for Nvidia GPUs," Munster noted. "He's talked about moving away from $NVDA before and it's proven extremely hard to do."



He added that while Tesla could work with Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>) or build a large chip fabrication plant, "they have better places" to spend $20 billion.



<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">Musk says they're building their own chip for inference, reducing the need for <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> GPUs. It'll be made in Taiwan and the U.S, maybe work with <a href="https://twitter.com/search?q=%24INTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$INTC</a> or they will build a &quot;giantaic chip fab&quot;. My take: He's talked about moving away from <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> before and it's proven extremely…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1986563804776349954?ref_src=twsrc%5Etfw">November 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Cathie Wood Backs Tesla's AI Ambitions</h2>



Earlier this week, ARK Invest CEO Cathie Wood also weighed in, calling Tesla's AI5 <a href="https://www.benzinga.com/markets/tech/25/11/48644724/cathie-wood-joins-elon-musk-and-brian-roemmele-in-hyping-teslas-ai5-chip-it-will-be-a-big-deal">chip a potential game-changer </a>after tech advisor Brian Roemmele said it could be "40 times faster" and "10 times cheaper per inference" than Nvidia's hardware.



"If Brian Roemmele thinks Tesla's A15 chip will be a big deal, then it will be a big deal," Wood wrote on X at the time.



Musk later confirmed that sample chips could arrive in 2026, with full-scale production likely in 2027.



Last month, Tesla reported <a href="https://www.benzinga.com/markets/earnings/25/10/48367296/tesla-q3-highlights-record-ev-deliveries-falling-profits-ai-ambitions-ahead">third-quarter revenue</a> of $28.1 billion, a 12% year-over-year increase that beat Wall Street's consensus estimate of $26.24 billion.



The stock closed at $445.91 on Thursday, down 3.54%, before rising 1.57% to $452.90 in after-hours trading. According to Benzinga's Edge Stock Rankings, Tesla continues to show a strong upward trend across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for a detailed look</a> at how it compares with its peers and competitors.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06211708/Screenshot-2025-11-07-at-7.45.47%E2%80%AFAM.png" alt="" class="wp-image-1152813"/></a></figure>



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Says ‘Super Sad&#8217; To See Federal EV Subsidies End: ‘Credits Created…&#8217;</a></li>
</ul>



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



Photo courtesy: Shutterstock

INTC

NVDA

SSNLF

Gene Munster Says Elon Musk Has Talked About Moving Away From Nvidia Before, But It's 'Proven Extremely Hard To Do' As Tesla Doubles Down On AI5 Chip

Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>) reported financial results for the third quarter after the market close on Thursday. Here&#8217;s a rundown of the report.



<ul class="wp-block-list">
<li>OPEN is moving after hours. <a href="https://www.benzinga.com/quote/OPEN" target="_blank" rel="noreferrer noopener">See what is driving the move here.</a></li>
</ul>



Q3 Highlights: Opendoor reported third-quarter revenue of $915 million, beating <a href="http://benzinga.com/quote/open/earnings" target="_blank" rel="noreferrer noopener">analyst estimates</a> of $849.59 million, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported a third-quarter loss of eight cents per share, missing estimates for a loss of seven cents per share.



Opendoor said it purchased 1,169 homes in the quarter, down from 3,504 year-over-year. The company also sold 2,568 homes, down from 3,615 in the prior year&#8217;s quarter.



&#8220;We are refounding Opendoor as a software and AI company. In my first month as CEO, we&#8217;ve made a decisive break from the past — returning to the office, eliminating reliance on consultants, and launching over a dozen AI-powered products and features that demonstrate our renewed velocity,&#8221; said Kaz Nejatian, CEO of Opendoor.



&#8220;Our business will succeed by building technology that makes selling, buying, and owning a home easier and more joyful — not from charging high spreads and hoping the macro saves us.&#8221;



What&#8217;s Next: Opendoor said it expects revenue in the fourth-quarter to decrease 35% quarter-over-quarter as the company rebuilds Opendoor. The company also anticipates a fourth-quarter adjusted EBITDA loss in the &#8220;high&nbsp;$40 millions&nbsp;to mid&nbsp;$50 millions.&#8221;



Opendoor executives will further discuss the company&#8217;s quarterly results on an earnings call at 5 p.m. ET. A <a href="https://www.youtube.com/watch?v=G2CrNSYVNyQ">link</a> to the call has been provided below.



OPEN Price Action: <a href="http://benzinga.com/quote/OPEN" target="_blank" rel="noreferrer noopener">Opendoor shares</a> were down 10.21% in after-hours, trading at $5.84 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/markets/earnings/25/11/48696044/opendoor-brings-earnings-and-chill-to-robinhood-a-livestream-for-retail-investors">Opendoor Brings &#8216;Earnings And Chill&#8217; To Robinhood: A Livestream for Retail Investors</a></li>
</ul>



Image: Around the World Photos/Shutterstock.com



<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="Opendoor Q3 Earnings Call 2025 &#x7C; $OPEN &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/G2CrNSYVNyQ?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>

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Opendoor Q3 Earnings: 'We Are Refounding Opendoor As A Software And AI Company'

Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) reported record revenue of $1.27 billion for the third quarter, representing 100% <a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar">year-over-year growth.&nbsp;</a>



Analysts are weighing in on the brokerage's blockbuster quarter.&nbsp;



<ul class="wp-block-list">
<li>HOOD stock is moving. <a href="https://www.benzinga.com/quote/HOOD">See the real-time price action here.&nbsp;</a></li>
</ul>



<h3 class="wp-block-heading">Expert Ideas</h3>



In a note titled "No Signs of Slowing Down; Another Record Q," Cantor analyst Brett Knoblauch highlighted the exponential growth of Robinhood's prediction markets business — nearing a $300 million run-rate and making it the company's 11th product area to surpass $100 million in annualized revenue in just one year since launch.



"What we find impressive is that within a year of launching prediction markets, HOOD&#8217;s prediction



business is now essentially the same size as its equities trading business," Knoblauch wrote in the note.&nbsp;



He also noted a major rebound in the firm's crypto business, with Robinhood app crypto volumes up 40.6% quarter over quarter and Bitstamp volumes up 70%.



Read Next: <a href="https://www.benzinga.com/markets/earnings/25/11/48673135/joby-stock-takes-off-after-massive-q3-revenue-beat-what-to-know">Joby Stock Takes Off After Massive Q3 Revenue Beat: What To Know</a>



Cantor maintained an Overweight rating on HOOD and raised the price target from $130 to $155.



Goldman Sachs analyst James Yaro also marveled at Robinhood's growth in prediction markets, which doubled the previous quarter's pace and offer significant upside to 2026 estimates. 



Yaro highlighted Robinhood's commitment to rolling out even more new business lines and incremental revenue streams, driving the firm's valuation higher.&nbsp;



Goldman Sachs maintained a Buy rating on Robinhood shares and raised its price target <a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar">from $170 to $181</a>. 



<h3 class="wp-block-heading">Price Targets Raised</h3>



These analysts also raised price targets following Robinhood's Q3 print:&nbsp;



<ul class="wp-block-list">
<li>Barclays analyst Benjamin Budish maintained Robinhood with an Overweight and raised the price target from $162 to $168.</li>



<li>Mizuho analyst Dan Dolev maintained an Outperform rating and raised the price target from $145 to $172.</li>



<li>Keefe, Bruyette &amp; Woods maintained Robinhood with a Market Perform and raised the price target from $121 to $135.</li>
</ul>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/11/48597210/iren-and-cipher-bag-billion-dollar-ai-deals-whats-next">IREN, Cipher Bag Billion-Dollar AI Deals: Which Company Is Next?</a></li>
</ul>



Photo: Shutterstock&nbsp;

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HOOD

Robinhood's Growth 'Shows No Signs Of Slowing Down'

Wall Street repriced a $500 billion event in a single day, and most retail investors completely missed it.



When the <a href="https://www.scotusblog.com/2025/10/trumps-tariffs-face-supreme-court-scrutiny/" rel="nofollow">Supreme Court questioned Trump administration lawyers</a> about tariff legality on November 5th, something strange happened in financial markets. Treasury bond yields (the interest rate the government pays to borrow money) spiked to their highest level in a month. At the same time, <a href="https://polymarket.com/event/will-the-supreme-court-rule-in-favor-of-trumps-tariffs" rel="nofollow">prediction markets where traders bet real money crashed</a> from 50% odds that Trump&#8217;s tariffs would survive to just 30% by day&#8217;s end.



But this part should make every investor pay attention: Hedge funds have been buying up hundreds of millions of dollars in <a href="https://finance.yahoo.com/news/wall-street-bets-tariff-refunds-195136204.html" rel="nofollow">tariff refund claims from struggling importers</a>, paying just 20 to 40 cents for every dollar the government might owe back.



More than just speculation, this is smart money making a calculated bet with real capital. The implications for your portfolio, your mortgage rate, and your monthly grocery bill are bigger than you might think.



<h2 class="wp-block-heading">Markets Fear Trump Losing, Not Winning</h2>



In reality, markets aren&#8217;t worried that Trump might win his tariff case at the Supreme Court. They&#8217;re worried he might lose it.



Think about it like this: Imagine your employer suddenly announced they might have to refund half of everyone&#8217;s paychecks from the past year, with interest. Where would that money come from? They&#8217;d have to borrow it, and fast.



That&#8217;s the situation facing the U.S. Treasury. Since April 2025, the government has collected roughly $89 billion specifically from Trump&#8217;s tariffs imposed under emergency powers. If the Supreme Court rules these tariffs were illegal, every penny has to be refunded with interest calculated from the day each payment was made.



By the time a Supreme Court decision comes down (likely before the end of 2025 or early 2026), that bill could exceed $500 billion when you include interest compounding at current Treasury rates of about 5-6% annually.



<h2 class="wp-block-heading">How Hedge Funds Are Profiting</h2>



This is where it gets interesting for regular investors trying to understand what the smart money is doing.



Companies that import goods (a furniture retailer bringing in sofas from Vietnam or an electronics distributor shipping tablets from China) have been paying these tariffs for months. Many of these businesses are cash-strapped. They need money today, not in 12-24 months when the government might issue refunds.



Enter the hedge funds. Firms like Jefferies Financial Group and Oppenheimer &amp; Co. are acting as brokers in a brand new market: <a href="https://www.orrick.com/en/Insights/2025/09/Preserving-and-Purchasing-Tariff-Refund-Claims" rel="nofollow">tariff refund claims</a>. They connect hedge funds willing to pay immediate cash with importers who need money now.



The math works like this: If an importer paid $1 million in tariffs and the Supreme Court strikes them down, the government owes that $1 million back plus interest. Let&#8217;s say $1.05 million after a year. A hedge fund might offer the importer $400,000 today (<a href="https://themacrocompass.substack.com/p/supreme-court-vs-tariffs-a-guide" target="_blank" rel="noreferrer noopener nofollow">40 cents on the dollar</a>). The importer gets immediate cash to cover operating expenses. The hedge fund waits for the government refund and pockets the difference: $650,000 profit on a $400,000 investment.



Wall Street is willing to deploy real capital into these trades in the <a href="https://www.wttlonline.com/stories/tariff-refund-preparations,14421" target="_blank" rel="noreferrer noopener nofollow">$2 million to $20 million range</a>. That tells you how seriously they&#8217;re taking the possibility of tariff invalidation.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Treasury</th><th>Yield (%)</th><th>Change (%)</th><th>Interpretation</th></tr></thead><tbody><tr><td>US 1-MO</td><td>3.919</td><td>-0.021</td><td>Slight retreat</td></tr><tr><td>US 2-MO</td><td>3.939</td><td>-0.013</td><td>Slight retreat</td></tr><tr><td>US 3-MO</td><td>3.885</td><td>-0.005</td><td>Essentially flat</td></tr><tr><td>US 4-MO</td><td>3.870</td><td>-0.008</td><td>Slight retreat</td></tr><tr><td>US 6-MO</td><td>3.823</td><td>+0.021</td><td>Minor rise</td></tr><tr><td>US 1-YR</td><td>3.705</td><td>+0.032</td><td>Starting to climb</td></tr><tr><td>US 2-YR</td><td>3.632</td><td>+0.048</td><td>Notable rise</td></tr><tr><td>US 3-YR</td><td>3.646</td><td>+0.055</td><td>Notable rise</td></tr><tr><td>US 5-YR</td><td>3.764</td><td>+0.063</td><td>Sharp rise</td></tr><tr><td>US 7-YR</td><td>3.950</td><td>+0.066</td><td>Sharp rise</td></tr><tr><td>US 10-YR</td><td>4.159</td><td>+0.068</td><td>Sharp rise (one-month high)</td></tr><tr><td>US 20-YR</td><td>4.719</td><td>+0.072</td><td>Steepest rise</td></tr><tr><td>US 30-YR</td><td>4.739</td><td>+0.068</td><td>Steepest rise</td></tr></tbody></table><figcaption class="wp-element-caption">U.S. Treasury yields, November 5, 2025. Short-term yields (1-4 months) fell modestly while long-term yields (5+ years) rose sharply, with the 10-year and 20-year posting the largest increases. This &#8220;steepening&#8221; signals fiscal stress concerns among bond investors.</figcaption></figure>



<h2 class="wp-block-heading">Why Your &#8220;Safe&#8221; Bonds Aren&#8217;t Acting Safe Anymore</h2>



This story connects directly to your portfolio.



Most investors learned a simple rule: When the stock market gets scary, bonds provide safety. That&#8217;s why financial advisors love the <a href="https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/global-60-40-portfolio-steady-as-it-goes.html" rel="nofollow">60/40 portfolio</a> (60% stocks for growth, 40% bonds for stability).



But something unusual is happening right now, and it has everything to do with this tariff case.



Normally, when markets expect bad economic news, Treasury bond prices rise and yields fall because investors rush to the safety of U.S. government debt. It&#8217;s called a flight to safety.



But in this tariff situation, the opposite is happening. Treasury yields are rising (which means bond prices are falling) even though the expected outcome (tariff removal) should be good for the economy.



Why? Because investors are looking past the initial positive effects and seeing a fiscal nightmare.



If the Supreme Court invalidates the tariffs, the government loses about $89-150 billion per year in revenue going forward, while simultaneously owing $500+ billion in refunds from past collections. That&#8217;s a double punch to the federal budget.



To cover this unexpected hole, the Treasury Department has to borrow more money by issuing more bonds. When the supply of bonds increases faster than demand, bond prices fall and yields (interest rates) rise. Basic supply and demand.



Think of it like a company announcing a massive secondary stock offering: If Apple suddenly announced it&#8217;s issuing 500 million new shares to raise emergency cash, the current share price would drop (because there are far more shares available than buyers willing to buy them at the current price). The same principle applies when the Treasury floods the bond market.



<h2 class="wp-block-heading">The Hidden Foreign Investor Angle</h2>



There&#8217;s yet this missing detail, but it explains a lot about why this is happening now: Japanese investors have been big sellers of U.S. Treasury bonds in recent months.



In April alone, <a href="https://www.ainvest.com/news/overseas-investors-sell-46-848-billion-treasuries-tariff-uncertainty-2506/" target="_blank" rel="noreferrer noopener nofollow">overseas investors (primarily from Japan) sold about $46.8 billion</a> in long-dated Treasury bonds. Why does this matter?



Japanese investors have been borrowing money in yen (where interest rates are near zero) and investing it in higher-yielding U.S. Treasuries to pocket the difference. It&#8217;s called a carry trade. But tariff uncertainty creates risk: If trade tensions escalate or currency markets get volatile, these investors need to sell their Treasury holdings quickly to repay their yen loans.



When large foreign investors pull back from buying U.S. bonds, the Treasury has to offer higher interest rates (yields) to attract new buyers. That&#8217;s another reason yields have been climbing.



<h2 class="wp-block-heading">What This Means for Your Real Life</h2>



Let me make this concrete with how it affects your actual finances:



<ul class="wp-block-list">
<li>Your grocery bill: If tariffs are struck down, import costs fall, and eventually prices at Walmart, Target, and your local grocery store should come down. This is the good news.</li>



<li>Your 401(k): Your stock holdings (especially if you own companies that rely on imports like retailers, tech companies, manufacturers) could see a rally as their costs decrease. But your bond holdings will likely fall in value as yields rise. The traditional bonds-protect-you-when-stocks-fall rule might not work this time.</li>



<li>Your mortgage rate: Treasury yields spike because the government needs to borrow $500 billion unexpectedly, mortgage rates could rise even though the underlying economy is doing okay. If you&#8217;re planning to buy a house or refinance, this is the dynamic to watch. Mortgage rates tend to follow the 10-year Treasury yield.</li>



<li>Your &#8220;safe&#8221; bond fund: If you own bond mutual funds or bond ETFs in your retirement account, understand that they&#8217;re acting more like risk assets right now, not safe havens. When yields rise, existing bond prices fall. A 1% rise in yields can cause a 7-10% drop in long-term bond prices.</li>
</ul>



<h2 class="wp-block-heading">The Winners and Losers</h2>



If the Supreme Court invalidates Trump&#8217;s tariffs:



Winners:



<ul class="wp-block-list">
<li>Import-heavy retailers like Walmart, Target, Home Depot</li>



<li>Tech companies with complex supply chains like Apple and Dell</li>



<li>Consumers paying lower prices</li>



<li>Domestic manufacturers that use imported components</li>
</ul>



Losers:



<ul class="wp-block-list">
<li>U.S. steel and aluminum producers who benefited from tariff protection</li>



<li>Treasury bond holders as bond prices fall</li>



<li>The federal government&#8217;s fiscal position</li>



<li>Anyone planning to refinance their mortgage in the next 6-12 months</li>
</ul>



<h2 class="wp-block-heading">What You Can Actually Do About This</h2>



You probably can&#8217;t access those hedge fund tariff refund trades at 20-40 cents on the dollar. Those $2-20 million deals are brokered by Jefferies and Oppenheimer to institutional money.



But you have real options.



If You Think Tariffs Get Struck Down



Certain stocks get an immediate boost when tariffs fall: Walmart, Target, Home Depot, Best Buy, Amazon. Any retailer or tech company heavy on imports.



The play: Add shares of retail-heavy ETFs like XRT (Retail ETF) (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XRT">XRT</a>) or consumer discretionary ETFs like XLY (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) over the next few weeks. When the Supreme Court rules and tariffs fall, these stocks should pop. XLY carries a 0.10% expense ratio, XRT charges 0.39%.



The risk: If the Supreme Court upholds tariffs, you&#8217;re holding positions that sell off. Size accordingly.



If You Own Bond Funds



Remember how bond prices fall when yields rise? If you own bond mutual funds or bond ETFs, long-term Treasury bonds could decline 7-10% if yields climb further.



Two ways to protect yourself:



Move to short-duration Treasury ETFs like SHV (iShares Short Treasury Bond ETF), which holds only bonds maturing in less than one year. SHV has near-zero duration risk, meaning it barely moves when long-term yields spike. Currently yielding 4.29% with a 0.15% expense ratio.



For more aggressive protection, buy an inverse long-term Treasury ETF like PST (Inverse Long-Term Treasury ETF), which gains value when long-term Treasury yields rise and bond prices fall. The math: If you own $100,000 in long-term Treasury bonds and buy $20,000 of PST, a 1% yield increase that would normally hurt your bonds by $7,000 gets partially offset by PST gains. But inverse ETFs lose money when yields fall. This is a tactical hedge, not a buy-and-hold position. Exit it once the Supreme Court rules. PST charges 0.50%.



If You&#8217;re Planning to Buy a House or Refinance



Mortgage rates track the 10-year Treasury yield closely. If yields are rising due to tariff uncertainty, and the Supreme Court rules to invalidate tariffs, Treasury yields could fall as the fiscal panic subsides. That could mean lower mortgage rates in late 2025 or early 2026.



Wait for the Supreme Court decision before locking in a rate. If tariffs get struck down and yields fall, your mortgage rate could be 0.25-0.50% lower. On a $400,000 mortgage, a 0.25% rate difference saves roughly $60,000 over the life of the loan.



If You Have a 401(k) With Bond Allocation



If you own intermediate or long-term bond funds in your retirement account (AGG, BND, or your fund&#8217;s bond allocation), consider rotating into short-duration bond funds like SHV before the Supreme Court ruling.



You keep your fixed income allocation, but you sidestep the duration risk (the risk that bond prices fall as yields rise). Once the ruling drops and yields stabilize, rotate back to longer-duration bonds for better returns. You&#8217;re reducing unnecessary risk during a specific known event.



<h2 class="wp-block-heading">What Investors Should Watch</h2>



The Supreme Court hasn&#8217;t announced when it will rule, but based on prediction markets and legal analysts, expect a decision before year-end 2025 or early 2026.



Your early warning system: Watch the <a href="https://fred.stlouisfed.org/series/DGS10" rel="nofollow">10-year Treasury yield</a>. If it keeps climbing above 4.5% despite expectations that tariffs might fall, it means markets are pricing in bigger fiscal problems ahead. That&#8217;s the signal that the bond market is starting to worry about America&#8217;s ability to manage its debt load (a phenomenon old Wall Street hands call <a href="https://robinhood.com/us/en/learn/weekly-rundown/2oU9H2FvCaCPNjoXnU8BBQ/" rel="nofollow">bond vigilantes</a> enforcing fiscal discipline).



Trump imposed tariffs claiming they would strengthen America&#8217;s financial position. If the Supreme Court strikes them down, the fiscal fallout could be one of the biggest unplanned government expenses in modern history. According to the <a href="https://www.crfb.org/blogs/tariff-revenue-soars-fy-2025-amid-legal-uncertainty" rel="nofollow">Committee for a Responsible Federal Budget</a>, the government collected $195 billion in tariff revenue in fiscal year 2025. Your portfolio will feel it whether you&#8217;re paying attention or not. Wall Street already is.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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Supreme Court Could Blow Up Your 60/40 Portfolio By December — Here's How To Hedge

China&nbsp;has reportedly resumed its U.S. wheat purchases after a pause of more than a year, following the recent meeting between the leaders of the two countries, indicating a <a href="https://www.benzinga.com/news/politics/25/10/48519309/trump-concludes-amazing-meeting-with-xi-jinping-teases-pretty-soon-trade-deal">potential reduction</a> in trade tensions.



<h2 class="wp-block-heading">A &#8216;Political&#8217; Move By China?</h2>



China has procured two cargoes of U.S. wheat. The purchase of approximately 120,000 metric tons of U.S. wheat for December shipment includes one cargo of U.S. soft white wheat and one of spring wheat, Reuters reported on Thursday. This marks the first such purchase since October 2024 and is seen as a positive sign for the trade relationship between the two nations. 



Another encouraging development on the trade front is the resumption of U.S. sorghum exports to China following the meeting between Presidents Donald Trump and Chinese President Xi Jinping, the chairman of the U.S. Grains and BioProducts Council, Mark Wilson, confirmed to Reuters.



One Singapore-based grains trader, with direct knowledge of the deals, told the publication that the purchase is a &#8220;political&#8221; move to display China&#8217;s commitment to buying U.S. grains, despite U.S. wheat not being the &#8220;cheapest&#8221; option.



Ahead of the Trump-Xi meeting, there were also reports that China had <a href="https://www.benzinga.com/markets/commodities/25/10/48485186/china-reportedly-resumes-us-soybean-purchases-before-trump-xi-meeting">resumed the purchase </a>of soybeans ordered approximately 180,000 metric tons to be shipped in December. 



<h2 class="wp-block-heading">Trade Truce Brings Fragile Calm, Say Experts</h2>



The recent developments in the U.S.-China trade relationship have been significant. China&#8217;s decision to <a href="https://www.benzinga.com/news/politics/25/11/48645413/china-eases-us-tariffs-scraps-farm-levies-as-trump-cuts-fentanyl-duties-in-fresh-trade-truce">ease tariffs</a> on U.S. goods and scrap 15% farm levies following a trade truce with the U.S. has been a crucial step in improving trade relations. Meanwhile, the U.S. also slashed fentanyl tariffs on China by 10%.



Additionally, China&#8217;s agreement to&nbsp;<a href="https://www.benzinga.com/news/politics/25/11/48584226/us-says-china-agreed-to-effectively-eliminate-restrictions-on-rare-earth-mineral-exports-following-trade-truce">lift restrictions on rare earth mineral exports</a>&nbsp;as part of a broader trade deal has further indicated a willingness to cooperate with the U.S.



While both sides may be experiencing a brief respite, <a href="https://www.benzinga.com/news/politics/25/10/48542492/trump-xi-meeting-us-china-trade-deal-war-tariffs-fentanyl-nvidia-tech-taiwan-semiconductors-exports-rare-earths">underlying tensions</a> persist, as per experts. &#8220;The worst of the trade war appears to be behind us,&#8221; said Roman Ziruk, senior analyst at Ebury, &#8220;but the relationship will need to be managed carefully.&#8221; 



Louise Loo, head of Asia economics at Oxford Economics, cautioned that "the four Ts"—Taiwan, transshipments, TikTok, and technology—remain sticking points, making the current calm "more of a pause than a pivot."



READ NEXT:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/11/48649638/china-reportedly-bans-foreign-ai-chips-in-state-funded-data-centers-in-a-blow-to-nvidia-amd">China Reportedly Bans Foreign AI Chips In State-Funded Data Centers In A Blow To Nvidia, AMD<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: rgb(59 130 246/0.5); --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></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.

Commodities

Economics

China Resumes US Wheat Purchases After Trump-Xi Talks As Trade Tensions Ease: Report

After a brief and cautious rebound on Wednesday, risk-off sentiment returned sharply on Thursday, with AI-linked stocks leading a broad selloff across Wall Street and renewed <a href="https://www.benzinga.com/crypto">pressure hitting crypto markets.</a>



Investors grappled with mixed corporate earnings and fresh concerns over the labor market after a private report showed a<a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48691213/americas-layoff-crisis-deepens-as-ai-quietly-replaces-workers"> spike in layoffs last month. </a>Despite clear signs of a cooling job market, comments from Federal Reserve officials dampened hopes for further rate cuts. 



Chicago Fed President Austan Goolsbee said he remains hesitant to continue the easing cycle, while Cleveland Fed President Beth Hammack echoed that it's "not obvious" the Fed should cut again given the current inflation backdrop.



The S&amp;P 500 fell 1%, the Nasdaq 100 dropped 1.8%, and the Dow Jones Industrial Average lost 0.9%. All major sectors traded lower except energy.



In earnings news, Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) plunged nearly 10%, on track for its worst day since April, despite beating Wall Street expectations last quarter. The move extends a recent trend of strong results sparking weak price reactions among high-flying stocks such as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>). Palantir slumped for a third straight session and is now down roughly 15% since Monday's close.



QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>) also topped estimates but slid about 5% after management guided for slightly weaker licensing revenue ahead. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>) dropped 3% after CEO Jensen Huang warned that the U.S. risks falling behind China in the AI race.



In crypto markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.7% to around $101,000, resuming its decline after a short-lived pause. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped 4%.



<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %Chg</td></tr><tr><td>Dow Jones</td><td>46,887.79</td><td>-0.9%</td></tr><tr><td>S&amp;P 500</td><td>6,725.24</td><td>-1.0%</td></tr><tr><td>Nasdaq 100</td><td>25,155.47</td><td>-1.8%</td></tr><tr><td>Russell 2000</td><td>2,419.30</td><td>-1.8%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:20 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) fell 1.1% to $615.85.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) fell 1% to $468.69.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;dropped 1.8% to $611.88.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) sunk 1.8% to $240.41.</li>



<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLE">XLE</a>) outperformed, up 1%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) lagged, down 2.6%.</li>
</ul>



<h2 class="wp-block-heading">Thursday&#8217;s Earnings Movers</h2>



<ul class="wp-block-list">
<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) </li>



<li>QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>)</li>



<li>IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IONQ">IONQ</a>) down 1.2%</li>



<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ARM">ARM</a>) down 2.6%</li>



<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>) up 1.8%</li>



<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DUOL">DUOL</a>) down 26.9%</li>



<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTNT">FTNT</a>) down 7.2%</li>



<li>e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ELF">ELF</a>) down 34.5%</li>



<li>Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JOBY">JOBY</a>) down 4.5%</li>



<li>Eos Energy Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EOSE">EOSE</a>) up 1.2%</li>



<li>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>) down 15.4%</li>



<li>Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LYFT">LYFT</a>) up 7.1%</li>



<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SNAP">SNAP</a>) up 10.2%</li>



<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LCID">LCID</a>) up 0.3%</li>



<li>FIGS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIG">FIG</a>) down 0.9%</li>



<li>Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FICO">FICO</a>) up 6.5%</li>



<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LEU">LEU</a>) down 14.5%</li>



<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BROS">BROS</a>) down 3.0%</li>



<li>The Honest Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HNST">HNST</a>) down 23.5%</li>



<li>HubSpot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HUBS">HUBS</a>) down 17.8%</li>



<li>Redwire Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RDW">RDW</a>) down 15.6%</li>



<li>Sezzle Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SEZL">SEZL</a>) down 6.4%</li>



<li>AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMC">AMC</a>) up 2.6%</li>



<li>Root Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ROOT">ROOT</a>) down 11.9%</li>



<li>Enovix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ENVX">ENVX</a>) down 23.1%</li>



<li>Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ET">ET</a>) down 0.2%</li>



<li>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>) down 0.3%</li>



<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>) up 14.9%</li>



<li>Talen Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TLN">TLN</a>) down 4.9%</li>



<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DVN">DVN</a>) flat (down 0.02%)</li>



<li>Paycom Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PAYC">PAYC</a>) down 12.4%</li>



<li>American Superconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMSC">AMSC</a>) down 35.0%</li>



<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CELH">CELH</a>) down 26.5%</li>



<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/QBTS">QBTS</a>) down 7.5%</li>



<li>Oscar Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OSCR">OSCR</a>) up 2.3%</li>



<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VST">VST</a>) down 3.7%</li>



<li>Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DDOG">DDOG</a>) up 19.3%</li>



<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRNA">MRNA</a>) up 2.4%</li>



<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WBD">WBD</a>) up 0.5%</li>



<li>Shift4 Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FOUR">FOUR</a>) up 2.9%</li>



<li>Under Armour Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/UA">UA</a>) down 3.1%</li>



<li>CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CYBR">CYBR</a>) down 2.5%</li>



<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COP">COP</a>) down 1.4%</li>



<li>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NRG">NRG</a>) down 3.9%</li>



<li>Jumia Technologies AG (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/JMIA">JMIA</a>) down 7.3%</li>



<li>AstraZeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AZN">AZN</a>) up 3.6%</li>



<li>Smith &amp; Nephew plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SN">SN</a>) up 7.7%</li>



<li>Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVAX">NVAX</a>) up 0.1%</li>



<li>YETI Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/YETI">YETI</a>) up 4.1%</li>



<li>DuPont de Nemours Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DD">DD</a>) down 1.6%</li>



<li>Aspen Aerogels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ASPN">ASPN</a>) down 42.7%</li>
</ul>



Stocks slated to report earnings after the close include SoundHound AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SOUN">SOUN</a>), Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>), The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTD">TTD</a>), Iris Energy Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IREN">IREN</a>), Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ACHR">ACHR</a>), NuScale Power Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMR">SMR</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OPEN">OPEN</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AFRM">AFRM</a>), XYZ Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XYZ">XYZ</a>), MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>), Take-Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TTWO">TTWO</a>), Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MNST">MNST</a>), Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INOD">INOD</a>), U.S. Rare Earths Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/USAR">USAR</a>), Peloton Interactive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTON">PTON</a>), Main Street Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MAIN">MAIN</a>), Texas Roadhouse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXRH">TXRH</a>), AbCellera Biologics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABCL">ABCL</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RUN">RUN</a>), Wynn Resorts Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WYNN">WYNN</a>), Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MCHP">MCHP</a>), Amprius Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMPX">AMPX</a>), Dropbox Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DBX">DBX</a>), StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/STNE">STNE</a>), indie Semiconductor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INDI">INDI</a>), Sweetgreen Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SG">SG</a>), Bill Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BILL">BILL</a>), Doximity Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCS">DOCS</a>), and GigaCloud Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GCT">GCT</a>).



Read now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/legal/25/11/48692983/supreme-court-trump-tariffs-ruling-odds-ieepa-refunds">Supreme Court May Sink Trump&#8217;s Tariffs—But Don&#8217;t Expect Them To Disappear</a></li>
</ul>



Image: Shutterstock

Econ #s

ABCL

ABNB

ACHR

AFRM

AMPX

AMSC

ASPN

BILL

BROS

CELH

COHR

CYBR

DASH

DDOG

DKNG

DOCS

DUOL

ENVX

EOSE

FICO

FOUR

FTNT

HNST

HUBS

INDI

INOD

IONQ

IREN

JMIA

JOBY

LCID

LYFT

MAIN

MCHP

MNST

MRNA

NVAX

OSCR

PAYC

PLTR

PTON

QBTS

QCOM

ROOT

SEZL

SNAP

SOUN

STNE

TTWO

TXRH

USAR

WYNN

YETI

AI Stocks Slide Again, Bitcoin Dips Near $100,000: What's Moving Markets Thursday?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) is reportedly some time away from kicking off the Roadster's production following a recent job listing that sparked buzz about the highly anticipated successor to Tesla's first-ever sports car.



Check out the current price of TSLA <a href="https://benzinga.com/quote/TSLA">here</a>.



<h2 class="wp-block-heading">Production Two To Three Years Away</h2>



The production of the Roadster is at least two to three years away, according to a report <a href="https://www.businessinsider.com/tesla-roadster-elon-musk-development-updates-2025-11">by</a> Business Insider on Wednesday, citing anonymous sources familiar with the matter. According to the sources cited in the report, the latest designs for the Roadster suggest a 2-seater configuration with butterfly doors. 



Tesla did not immediately respond to <a href="https://pro.benzinga.com">Benzinga</a>'s request for comment.



<h2 class="wp-block-heading">Elon Musk Touts ‘Unforgettable' Demo</h2>



The news comes following Tesla CEO Elon Musk's appearance on an episode of the podcast hosted by media personality Joe Rogan, where he teased <a href="https://www.benzinga.com/markets/tech/25/11/48583775/elon-musk-teases-flying-car-demo-for-tesla-roadster-says-will-have-crazy-tech-better-than-james-bonds-cars">an "unforgettable" demo</a> for the Roadster, also hinting that the Roadster could be a &#8220;flying car.&#8221;



Tesla had also earlier <a href="https://www.benzinga.com/markets/tech/25/10/48035768/elon-musk-led-tesla-releases-cryptic-teasers-could-this-finally-be-affordable-model-y-or-roadster">filed for a patent</a> detailing an active aerodynamic system for the Roadster that could suck air through a series of fans to generate downforce "across varying conditions,&#8221; the filing said. The filing also mentioned that the system could be used to make the car hover by reversing the air flow.



<h2 class="wp-block-heading">Sam Altman Vs Elon Musk Over The Roadster</h2>



Meanwhile, OpenAI CEO and founder Sam Altman faced off against Musk in a series of social media posts about the former's Roadster booking. Altman alleged that Tesla had <a href="https://www.benzinga.com/markets/tech/25/10/48549741/openais-sam-altman-calls-out-tesla-after-failing-to-get-50k-roadster-refund-felt-like-a-long-time">failed to reimburse him</a> for $50,000 he paid to book the Roadster after he canceled his booking.



Altman was criticized by Musk in a post, saying that the <a href="https://www.benzinga.com/markets/tech/25/11/48580985/elon-musk-calls-out-sam-altman-over-tesla-roadster-refund-this-issue-was-fixed-and-you-received-a-refund-within-24-hours">refund was fulfilled</a> within 24 hours after the issue surfaced. Altman isn't the only one who canceled his booking for the Roadster with popular YouTuber Marques Brownlee, aka MKBHD, also canceled<a href="https://www.benzinga.com/markets/tech/25/09/47955324/tesla-roadster-booking-canceled-by-popular-youtuber-mkbhd-tesla-has-been-sitting-with-my-50-grand-for-eight-years"> one of the two Roadster reservations</a> he had made.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="204" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1024x204.jpg" alt="" class="wp-image-1151191" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1024x204.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-300x60.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-768x153.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2-1536x306.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06041136/TSLA-NOV-6-2025-2.jpg 1585w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/11/48676952/dan-ives-expects-elon-musks-1-trillion-pay-plan-to-pass-adam-jonas-warns-of-risks-ahead-of-tesla-vote">Dan Ives Expects Elon Musk&#8217;s $1 Trillion Pay Plan To Pass, Adam Jonas Warns Of Risks Ahead Of Tesla Vote</a></li>
</ul>



Photo courtesy: Around the World Photos On Shutterstock.com

Tesla Roadster 3 Years Away From Production — Could Sport 2-Door Design Amid Elon Musk's 'Unforgettable Demo,' 'Flying Car' Claims: Report

Leading cryptocurrencies bounced back on Wednesday as President Donald Trump pledged support to the industry. 



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:00 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.84%</td><td>$103,435.58</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>+5.06%</td><td>$3,407.30</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+8.66%</td><td>$2.34</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+5.87%</td><td>$160.85</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.64%</td><td>$0.1662</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Market Sentiment Sees Slight Improvement</h2>



Bitcoin saw a relief bounce, reaching an intraday high of $104,534.70. The apex cryptocurrency's spike spurred a broader rally, with Ethereum reclaiming $3,400.



The rally comes as Trump <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48675479/trump-says-biden-was-vicious-on-crypto-but-hes-ended-the-war-on-the-industry-it-was-terrible">reiterated his promise</a> to make the U.S. a "Bitcoin Superpower" and claimed that he ended the previous administration's "War On Crypto."



Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.



Over $313 million was liquidated from the cryptocurrency market in the last 24 hours, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, with short position traders bearing the brunt of the losses.



Bitcoin's open interest rose 1.59% in the last 24 hours, suggesting renewed interest among derivatives traders.



The market sentiment improved from "Extreme Fear" to "Fear," <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">according </a>to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)&nbsp;



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency (Market Cap&gt;$100 M)</th><th>Gains +/-</th><th>Price (Recorded at 9:00 p.m. ET)</th></tr></thead><tbody><tr><td>Giggle Fund (GIGGLE )&nbsp;&nbsp;&nbsp;</td><td>+147.23%</td><td>$238.54</td></tr><tr><td>SOON (SOON)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+111.36%</td><td>$1.48</td></tr><tr><td>1inch (1INCH )&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+32.22%</td><td>$0.1890 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.43 trillion, rebounding by nearly 4% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Recover Amid Encouraging Labor Market Data</h2>



Stocks bounced back on Wednesday. The Dow Jones Industrial Average rallied 225.76 points, or 0.48%, to close at 47,311.00. The S&amp;P 500 gained 0.37% to end at 6,796.29, while the tech-heavy Nasdaq Composite closed up at 23,499.80.



The ADP National Employment Report showed that <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48653204/hiring-rebounds-but-its-still-too-weak-to-derail-a-december-fed-cut">42,000 jobs were added in October</a>, a reversal from the 32,000 jobs lost in September and exceeding economists&#8217; consensus forecast of 25,000, offering some optimism to investors.



Official labor market data from the Bureau of Labor Statistics remains paused due to the <a href="https://www.benzinga.com/etfs/sector-etfs/25/11/48668256/duffy-warns-of-flight-chaos-as-shutdown-extends-these-etfs-are-at-risk">ongoing government shutdown</a>.



<h2 class="wp-block-heading">Crypto Market In &#8216;Corrective&#8217; Phase</h2>



In a note shared with Benzinga, analysts at cryptocurrency payment company B2BINPAY stated that the market is in a "corrective" phase, not in a "bearish" phase.



"In our view, the $100,000 level is the most important support for Bitcoin. Holding it means that hopes for future upward movement are still in place, with potential for recovery toward $115 000–$120 000 as soon as ETF flows stabilize and macro sentiment improves," the analysts projected.



On-chain analytics firm CryptoQuant stated that Bitcoin risks plunging to $72,000 if it fails to reclaim and hold its 365-day moving average i.e, $102,000, which has historically acted as a "key technical and psychological support."



<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">Bitcoin is below its 365-day moving average ($102K), a key technical and psychological support level last broken at the start of the 2022 bear market. If price fails to reclaim it, data suggest the next support lies near $72K, the Traders' minimum realized price band. <a href="https://t.co/VySVce5NY9">pic.twitter.com/VySVce5NY9</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1986080638303084688?ref_src=twsrc%5Etfw">November 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48666356/trader-who-lost-45-million-on-bitcoin-ethereum-solana-longs-now-turns-bearish">Trader Who Lost $45 Million On Bitcoin, Ethereum, Solana Longs Now Turns Bearish</a></li>
</ul>



Photo Courtesy: Sodel Vladyslav on Shutterstock.com

Bitcoin Recovers Amid Trump's Pro-Crypto Remarks: Ethereum, Dogecoin, XRP Also Rise: Analyst Says BTC Risks Falling To $72,000 If It Fails To Do This

The U.S. Supreme Court raised doubts regarding President Donald Trump&#8217;s authority to impose sweeping tariffs using a decades-old emergency powers law. 



<h2 class="wp-block-heading">The Use of IEEPA Questioned</h2>



During oral arguments on Wednesday, both Conservative and Liberal justices on the bench questioned Trump&#8217;s use of the International Emergency Economic Powers Act of 1977 to impose broad tariffs across all major U.S. trading partners.



The wording of the Act that was historically used to impose sanctions was questioned during the oral arguments, with Justice Amy Coney Barrett, a conservative judge appointed by Trump during his first term, asking whether it &#8220;has been used to confer tariff-imposing authority.&#8221;



See Also: <a href="https://www.benzinga.com/markets/asia/25/11/48612515/trump-has-backed-down-on-china-tariffs-says-economist-paul-krugman-the-future-now-belongs-to-china">Trump Has &#8216;Backed Down&#8217; On China Tariffs, Says Economist Paul Krugman: &#8216;The Future Now Belongs To China&#8217;</a>



Liberal Justice Ketanji Brown Jackson said the statute was intended to constrain presidential authority, stating, &#8220;It's pretty clear that Congress was trying to constrain the emergency powers of the president.&#8221;



Appearing for the administration, U.S. Solicitor General D. John Sauer argued that Trump viewed the trade deficits as an economic and national security catastrophe, adding that they helped the country negotiate better trade deals in recent months.



Sauer said that unwinding these deals &#8220;would expose us to ruthless trade retaliation by far more aggressive countries and drive America from strength to failure with ruinous economic and national security consequences.&#8221;



<h2 class="wp-block-heading">The &#8216;Major Questions&#8217; Doctrine</h2>



Conservative Chief Justice John Roberts suggested that the court could apply its &#8220;Major Questions&#8221; doctrine, which requires executive actions resulting in significant economic or political impact to be authorized by Congress. 



Roberts added that the tariffs were an &#8220;imposition of taxes on Americans, and that has always been the core power of Congress.&#8221; He, however, acknowledged that the Court has long shown deference to the President when conducting foreign policy. 



&#8220;Sure, the tariffs are a tax, and that&#8217;s a core power of Congress, but they are a foreign-facing tax, right? And foreign affairs is a core power of the executive,&#8221; he said. 



Conservative Justice Brett Kavanaugh came out in support of the administration, noting that former President Richard Nixon had similarly imposed worldwide tariffs using the IEEPA&#8217;s predecessor statute in the 1970s, which he highlighted as a good precedent. 



Neil Gorsuch, another conservative justice, disagreed with the foreign policy argument, suggesting that giving such sweeping authority to the President could undermine the separation of powers between the executive and legislative branches.



<h2 class="wp-block-heading">Trump Warns Ruling Could &#8216;Literally Destroy&#8217; The US</h2>



Ahead of the hearing, <a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48295327/trump-warns-supreme-court-tariff-ruling-could-literally-destroy-the-us-well-be-struggling-for-years">Trump warned</a> that the Court&#8217;s ruling against his tariffs could &#8220;literally destroy&#8221; the United States, arguing it would leave the country &#8220;struggling for years to come.&#8221; 



His remarks underscored how central the tariffs and the legal authority behind them are to his administration's economic and foreign policy agenda.



Earlier this week, Trump had said that he <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48582680/trump-wants-to-attend-supreme-courts-hearing-on-legality-of-his-tariffs-so-badly-but-wont-not-about-me-its-about-our-country">wanted to attend</a> the court&#8217;s hearing, but decided against it, saying, &#8220;It's not about me, it's about our country,&#8221; while again reiterating the importance of the tariffs for national security and addressing the nation&#8217;s persistent global trade imbalances.



Photo Courtesy: Jack_the_sparow on Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/11/48661078/trump-tariffs-inflation-impact-ism-services-pmi-prices-paid-outlook-cpi">Trump&#8217;s Tariffs Are Quietly Fueling A New Wave Of Inflation, Economists Warn</a></li>
</ul>

Trump's Tariffs Face Doubts In Supreme Court: 'Major Questions Doctrine' Looms Large Amid Debate Over President's Emergency Powers

(Editor&#8217;s note: The future prices of benchmark tracking ETFs and the headline were updated in the story, and it has been corrected to reflect that AppLovin beat revenue estimates, not missed them)



U.S. stock futures pared earlier losses to trade higher on Thursday after Wednesday's positive close. Futures of major benchmark indices were higher.



This followed the <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48676595/trumps-tariffs-face-doubts-in-supreme-court-major-questions-doctrine-looms-large-amid-debate-over-presidents-emergency-powers">doubts raised</a> by the U.S. Supreme Court regarding President Donald Trump's authority to impose sweeping tariffs using a decades-old emergency powers law, on Wednesday.



The 10-year Treasury bond yielded 4.14% and the two-year bond was at 3.61%. 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 67.3% likelihood of the Federal Reserve cutting the current interest rates during its December 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>-0.06%</td></tr><tr><td>S&amp;P 500</td><td>-0.02%</td></tr><tr><td>Nasdaq 100</td><td>-0.06%</td></tr><tr><td>Russell 2000</td><td>-0.19%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.16% at $678.67, while the QQQ advanced 0.14% to $624.16, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



<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="Stock Market News Today &#x7C; Apple, Applovin, Qualcomm In Focus &#x7C; Nov 6, 2025" width="500" height="281" src="https://www.youtube.com/embed/YtuGGsAcyJ0?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>



<h2 class="wp-block-heading">Stocks In Focus</h2>



<h2 class="wp-block-heading">Airbnb</h2>



<ul class="wp-block-list">
<li>Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ABNB">ABNB</a>) rose 0.041% in premarket on Thursday ahead of its earnings, scheduled to be released after the closing bell. Analysts expect it to report earnings of $2.34 per share on revenue of $4.08 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Benzinga&#8217;s Edge Stock Rankings indicate that ABNB maintains a weaker price trend over the short, medium, and long terms, with a moderate value ranking. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="154" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-1024x154.png" alt="Benzinga's Edge Stock Rankings for ABNB. " class="wp-image-1151282" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6-768x116.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050733/ABNB-EDGE-NOV-6.png 1162w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Apple</h2>



<ul class="wp-block-list">
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) fell 0.27% after the news that it was finalizing a deal to pay Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) about $1 billion yearly for AI technology to rebuild Siri, using the partnership as a temporary fix until 2026.</li>
</ul>



<ul class="wp-block-list">
<li>AAPL maintained a stronger price trend over the short, medium, and long terms, with a solid growth ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="159" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-1024x159.png" alt="Benzinga's Edge Stock Rankings for AAPL. " class="wp-image-1151280" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-1024x159.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050721/AAPL-EDGE-NOV-6-1.png 1161w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Marvell Technology</h2>



<ul class="wp-block-list">
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MRVL">MRVL</a>) soared 8% pre-market as Bloomberg reported that SoftBank Group <a href="https://www.benzinga.com/m-a/25/11/48677935/softbank-explored-taking-over-us-chipmaker-marvell-to-merge-with-arm-report">explored a potential takeover</a> of U.S. chipmaker earlier this year.</li>
</ul>



<ul class="wp-block-list">
<li>It maintained a stronger price trend over the long, short, and medium terms, with a poor value ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-1024x158.png" alt="Benzinga's Edge Stock Rankings for MRVL. " class="wp-image-1151279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050658/MRVL-EDGE-NOV-6.png 1150w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Coherent</h2>



<ul class="wp-block-list">
<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>) climbed 14.31% after it reported revenue of $1.58 billion, up 17% year-on-year, and earnings of $1.16, compared to $0.67 from the same quarter in the previous fiscal year.</li>
</ul>



<ul class="wp-block-list">
<li>COHR maintains a stronger price trend over the short, medium, and long term, with a robust quality ranking. Additional information is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="153" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-1024x153.png" alt="Benzinga's Edge Stock Rankings for COHR. " class="wp-image-1151277" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-1024x153.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE-768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050604/COHR-EDGE.png 1150w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Applovin</h2>



<ul class="wp-block-list">
<li>Applovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>) <a href="https://www.benzinga.com/markets/equities/25/11/48680214/applovin-surges-6-pre-market-momentum-signals-rally-may-have-more-room-to-run">jumped 6.17% pre-market</a> after reporting revenue of $1.41 billion, above analyst estimates of $1.34 billion and earnings of $2.45 per share, beating analyst estimates of $2.41 per share.</li>
</ul>



<ul class="wp-block-list">
<li>APP maintained a stronger price trend over short, medium, and long terms, with a moderate growth ranking. Additional performance details, as per Benzinga&#8217;s Edge Stock Rankings, are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</a></li>
</ul>



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-1024x158.png" alt="Benzinga's Edge Stock Rankings for APP. " class="wp-image-1151275" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/06050539/APP-EDGE-NOV-6.png 1153w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">Cues From Last Session</h2>



Sectors recording the biggest gains on Wednesday included communication services, consumer discretionary, and materials, leading most S&amp;P 500 segments to close positively.



Bucking the overall market trend, however, were consumer staples and information technology, which both closed the session lower.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.65%</td><td>23,499.80</td></tr><tr><td>S&amp;P 500</td><td>0.37%</td><td>6,796.29</td></tr><tr><td>Dow Jones</td><td>0.48%</td><td>47,311.00</td></tr><tr><td>Russell 2000</td><td>1.54%</td><td>2,464.78</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Insights From Analysts</h2>



Sean Peche, Founder of Ranmore Fund Management, views the current stock market as dangerously overvalued, drawing direct parallels between the present-day AI hype and Japan's late-1980s valuation bubble.



He points to "lofty valuations and a sense of euphoria," driven by the overwhelming dominance of US tech.



Peche challenges traditional metrics, arguing that the Magnificent 7&#8217;s high capital expenditure makes net income a misleading measure. He calculates the group trades at 58x free cash flow (FCF), his preferred metric.



This valuation worsens significantly when adjusting for stock-based compensation—which he calls "a real cost to shareholders"—rising to 77x FCF.



While the catalyst for a correction is unknown, Peche warns that history shows the odds are stacked against investors at these levels.



"History has repeatedly shown us that the odds of generating attractive real returns over the medium to long term are not on your side when you pay high valuations," he states, suggesting investors should reconsider their heavy reliance on the U.S. market.



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



<h2 class="wp-block-heading">Upcoming Economic Data</h2>



Here's what investors will be keeping an eye on Thursday;



<ul class="wp-block-list">
<li>The initial jobless claims data for the latest week will be delayed, along with third-quarter U.S. productivity data and September&#8217;s wholesale inventories data.</li>
</ul>



<ul class="wp-block-list">
<li>Fed governor Michael Barr and New York Fed President John Williams will speak at 11:00 a.m., Fed governor Christopher Waller at 3:30 p.m., Philadelphia Fed President Anna Paulson at 4:30 p.m., and St. Louis Fed President Alberto Musalem at 5:30 p.m. ET.</li>
</ul>



<h2 class="wp-block-heading">Commodities, Gold, Crypto, And Global Equity Markets</h2>



Crude oil futures were trading higher in the early New York session by 1.06% to hover around $60.23 per barrel.



Gold Spot US Dollar rose 0.83% to hover around $4,012.21 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.25% lower at the 99.9520 level.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was trading 1.01% higher at $102,968.08 per coin.



Asian markets closed higher on Thursday, except India&#8217;s NIFTY 50 index. South Korea's Kospi, Japan's Nikkei 225, Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices rose. European markets were also lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/11/48678389/ray-dalio-warns-feds-policy-shift-could-trigger-1999-style-melt-up-in-markets">Ray Dalio Warns Fed&#8217;s Policy Shift Could Trigger 1999-Style &#8216;Melt-Up&#8217; In Markets</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Federal Reserve

Pre-Market Outlook

AAPL

GOOG

GOOGL

MRVL

Stock Market Today: S&P 500, Nasdaq Futures Pare Losses To Trade Higher—Coherent, Marvell Tech, Applovin, Apple In Focus (UPDATED)

Forge Global Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FRGE">FRGE</a>) shares jumped 53.14% in after-hours trading on Wednesday to $40.



Check out the current price of <a href="https://www.benzinga.com/quote/FRGE">FRGE stock here</a>.&nbsp;



The stock closed the regular session at $26.12, higher by 0.11%, on Wednesday, according to <a href="https://www.benzinga.com/quote/FRGE">Benzinga Pro</a> data.



<h2 class="wp-block-heading">Acquisition Reports</h2>



The Financial Times <a href="https://www.ft.com/content/ffa0dabd-7e87-4327-b788-73e8fb598de3">reported</a> on Wednesday that Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SCHW">SCHW</a>) is nearing an agreement to acquire private share exchange Forge Global. The deal&#8217;s estimated value is $600 million.



California-based fintech Charles Schwab is reportedly expected to pay up to $45 per share for Forge Global.



According to the report, the transaction could be announced this week, although there is no guarantee it will be finalized.



The decision was taken shortly after Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MS">MS</a>) declared that it would acquire EquityZen, a direct rival of Forge Global.



Forge Global confirmed last week that it is in talks with multiple parties about a potential sale, but said <a href="https://www.benzinga.com/markets/small-cap/25/10/48452838/forge-global-confirms-talks-over-a-potential-sale-with-multiple-parties-but-says-no-agreement-has-been-reached-as-shares-surge">no agreement has been reached</a>.



<h2 class="wp-block-heading">Earnings Announcement</h2>



The San Francisco-based company also announced it will report its <a href="https://www.benzinga.com/quote/FRGE/earnings">third-quarter</a> financial results on Nov. 14.



See Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/11/48674407/draftkings-q3-preview-record-nfl-betting-expected-will-prediction-markets-hurt-results-guidance">DraftKings Q3 Preview: Record NFL Betting Expected, Will Prediction Markets Hurt Results, Guidance?</a>



<h2 class="wp-block-heading">Stock Performance</h2>



Forge Global has gained 84.33% over the past year and 107.80% over the past six months.



The financial services platform&#8217;s stock has a 52-week range of $6.60 to $26.62 and a market capitalization of $355.27 million.



With a strong Momentum in the 92nd percentile, Benzinga&#8217;s Edge Stock Rankings indicate that FRGE has a positive price trend across all time frames.&nbsp; <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Know how</a> its momentum lines up with other well-known names.



<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="541" height="322" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84.png" alt="" class="wp-image-1150502" style="width:428px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84.png 541w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/05215529/image-84-300x179.png 300w" sizes="(max-width: 541px) 100vw, 541px" /></a></figure>



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<li><a href="https://www.benzinga.com/news/topics/25/11/48674447/nearly-60-of-small-business-owners-favor-local-community-focused-lenders-over-big-banks-new-research-shows">Nearly 60% Of Small Business Owners Favor Local Community-Focused Lenders Over Big Banks, New Research Shows</a></li>
</ul>



Photo Courtesy: T. Schneider on Shutterstock.com:



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

FRGE

SCHW

Forge Global Stock Rockets 53% After Hours On Charles Schwab Buyout Buzz

Sports betting company DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DKNG">DKNG</a>) could provide more details on how it is competing against prediction markets and its recent acquisition in the space when the company report third-quarter financial results Thursday<a href="https://www.benzinga.com/earnings"> after market close.</a>



 • DKNG is testing key support levels. <a href="https://www.benzinga.com/quote/DKNG" target="_blank" rel="noreferrer noopener">Get the details here.</a>



Here are the earnings estimates, what analysts are saying and key items to watch.



Earnings Estimates: Analysts expect DraftKings to report third-quarter revenue of $1.23 billion, up from $1.09 billion in last year's third quarter, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110525&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



The company has beaten analyst estimates for revenue in five of the past 10 quarters overall, including the recently reported second quarter.



Analysts expect DraftKings to report a loss of 40 cents per share in the third quarter, down from a loss of 17 cents per share in last year's third quarter.



The company has beaten analyst estimates for earnings per share in nine of the last 10 quarters overall, including the most recently reported second quarter.



Read Also: <a href="https://www.benzinga.com/markets/earnings/25/11/48589747/top-stocks-with-earnings-this-week-joby-ionq-amd-and-more">Top Stocks With Earnings This Week: Joby, IonQ, AMD and More</a>



What Analysts Are Saying: Bank of America Securities analyst Shaun C. Kelley<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/11/48631769/draftkings-flutter-stocks-downgraded-on-prediction-market-risk-relentless-headwinds"> downgraded both</a> DraftKings and peer company Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FLUT">FLUT</a>) ahead of their upcoming earnings reports.



The analyst said there are numerous challenges facing the sports betting companies, including the rise of prediction markets.



Kelley downgraded DraftKings stock from Buy to Neutral and lowered the price target from $48 to $35.



Items such as unfavorable sports outcomes, underperformance in iGaming, tax headwinds and more could hurt DraftKings going forward, Kelley said in a new investor note.



&#8220;Relentless headwinds could recalibrate long-term earnings,&#8221; Kelley said.



The analyst said DraftKings&#8217; structural hold doesn&#8217;t &#8220;look so structural anymore,&#8221; noting that third-quarter and fourth-quarter sports outcomes could lead to volatility in financials.



Kelley said DraftKings&#8217; model &#8220;is highly sensitive to Hold.&#8221;



&#8220;Additionally, we think prediction markets present a challenging near-term narrative.&#8221;



The analyst said even without the other headwinds, the stock would get downgraded &#8220;solely on prediction markets.&#8221;



Here are other <a href="https://www.benzinga.com/quote/DKNG/analyst-ratings">analyst ratings for DraftKings </a>and their price targets:



<ul class="wp-block-list">
<li>BMO Capital: Maintained Outperform rating, lowered price target from $65 to $63</li>



<li>Bernstein: Maintained Outperform rating, lowered price target from $55 to $50</li>



<li>Stifel: Maintained Buy rating, lowered price target from $51 to $50</li>



<li>Truist: Maintained Buy rating, lowered price target from $55 to $50</li>



<li>Susquehanna: Maintained Positive rating, lowered price target from $64 to $59</li>
</ul>



Key Items to Watch: Prediction markets will likely be one of the hottest topics when DraftKings reports, especially during the Q&amp;A portion of the conference call.



The company will likely highlight its <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48341967/draftkings-stock-surges-following-acquisition-to-launch-prediction-markets">recently announced acquisition</a> of Railbird Technologies, a federally licensed exchange company for prediction markets regulated by the Commodity Futures Trading Commission.



The acquisition is likely to help boost DraftKings into the regulated event contract space. The company plans to launch a mobile app with event contracts called DraftKings Predictions. Investors and analysts will want to hear more about the timeline and the potential revenue opportunity from cross-selling existing customers.



Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>)<a href="https://www.benzinga.com/markets/earnings/25/11/48671642/robinhood-q3-highlights-double-beat-record-revenue-prediction-markets-soar"> reported quarterly financials</a> on Wednesday and showed strong growth for its event contracts business, which is now doing more than $100 million in annualized revenue. The company said Event Contracts Traded in the third quarter more than doubled from the second quarter to 2.3 billion in the quarter.



Event contracts traded in October for Robinhood already surpassed the third-quarter total with 2.5 billion contracts for the month.



DraftKings&#8217; third quarter will include the start of the 2025 NFL season, which is expected to set records for sports betting and will likely see a surge of new users wagering with prediction markets.



The American Gaming Association <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/09/47480159/12-stocks-for-2025-nfl-season-with-30-billion-expected-to-be-bet-8-million-super-bowl-lx-ads">predicts that $30 billion </a>will be wagered on the 2025 NFL season with legal sportsbooks in the U.S., up 8.5% year-over-year. DraftKings is one of the biggest winners of this total and the third quarter results could show how some unfavorable outcomes with lots of favorites winning impacted results.



The company has had to adjust guidance previously based on quarters with unusually favorable outcomes for customers, including NFL games.



DraftKings reported record revenue, net income and adjusted EBITDA in <a href="https://www.benzinga.com/markets/earnings/25/08/46927269/draftkings-q2-earnings-soar-record-revenue-net-income-plus-a-prediction-market-tease">the previous quarter,</a> making this one important to show continued growth and strong financial metrics.



The company maintained its full-year guidance for revenue and adjusted EBITDA after second-quarter results despite a double beat and some records. Investors and analysts will want to see guidance stay the same or increase, with lowered guidance having the possibility of sending shares even lower.



DKNG Price Action: DraftKings stock closed Wednesday down 2.41% to $27.92, with shares hitting a new 52-week low of $27.89 during the day's trading session. DraftKings stock is down 23.1% year-to-date in 2025, with shares down over 20% in the last month alone.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/sports-betting/25/10/48160429/draftkings-vs-kalshi-vs-polymarket-q3-results-guidance-to-show-whos-leading-nfl-betting-market">DraftKings Vs. Kalshi Vs. Polymarket: Q3 Results, Guidance To Show Who&#8217;s Leading NFL Betting Market</a></li>
</ul>

Gaming

Sports Betting

Previews

Sports

FLUT

DraftKings Q3 Preview: Record NFL Betting Expected, Will Prediction Markets Hurt Results, Guidance?

Movie theater company AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMC">AMC</a>) reported third-quarter financial results on Wednesday <a href="https://www.benzinga.com/earnings">after market close.</a>



 • See what is driving the AMC stock movement<a href="https://www.benzinga.com/quote/AMC" target="_blank" rel="noreferrer noopener"> here.</a>



Here are the key highlights.



Q3 Results: AMC reported third-quarter revenue of $1.300 billion, down 3.6% year-over-year. The revenue total beat a Street consensus estimate of $1.23 billion, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110525&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



The company reported an adjusted loss of 21 cents per share, slightly missing a Street estimate of a loss of 20 cents per share.



"Due primarily to the timing of major studio film release dates, a weak first quarter was followed by a blazing hot second quarter, which was followed by a softening third quarter. We continue to expect that the year will culminate in what we hope will be quite a strong year-end in quarter four," AMC CEO Adam Aron said.



Aron said the company outperformed industry averages for admissions revenue with a record admissions per patron of $12.25. Food and beverage revenue per patron hit $7.74 in the quarter, the second-highest total in company history.



Here were the food and beverage per patron totals in the quarter, with the prior year&#8217;s third quarter totals in parentheses.



<ul class="wp-block-list">
<li>U.S.: $8.55 ($8.49)</li>



<li>International: $5.61 ($5.07)</li>



<li>Total: $7.74 ($7.53)</li>
</ul>



These were the attendance figures for the quarter: 



<ul class="wp-block-list">
<li>U.S.: 58.38 million people, -9.9% year-over-year</li>



<li>International: 9.35 million people, -11.4% year-over-year</li>



<li>Total: 58.38 million, -10.3% year-over-year</li>
</ul>



The AMC CEO also highlighted the company's recent financing of debt, which positions the company's balance sheet and as part of a "multi-year industry recovery."



Read Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/11/48632891/amc-entertainment-q3-preview-superman-dinosaurs-superheroes-could-help-company-beat-revenue">AMC Entertainment Q3 Preview: Superman, Dinosaurs, Superheroes Could Help Company Beat Revenue</a>



What's Next: Aron said the industrywide softness in the third quarter "should not be a cause for alarm."



"We expect the fourth quarter industrywide box office will turn out to be the highest-grossing fourth quarter in six years," Aron said." We also continue to believe that the size of the 2026 box office will be dramatically larger than that achieved in 2025."



Aron highlighted the company's partnership with Taylor Swift for the official listening party in AMC locations. The event generated over $50 million in box office receipts from Oct. 3 to Oct. 5 and will be included in fourth-quarter results.



"We are tremendously excited about the film slate for the remainder of this quarter, both with blockbuster titles and more intimate storytelling."



Aron highlighted multiple movies, including December's third Avatar film "Avatar: Fire and Ash."



"With this lineup of highly anticipated films, among other titles in addition, we believe the fourth quarter box office will surpass that of last year, and notch 2025 as the largest post-pandemic box office year yet."



AMC Price Action: AMC stock is up 1.60% to $2.54 in after-hours trading Wednesday versus a 52-week trading range of $2.45 to $5.56.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/entertainment/25/10/48480662/netflix-amc-put-rivalry-aside-cozy-up-on-kpop-demon-hunters-stranger-things-and-more">Netflix, AMC Put Rivalry Aside, Cozy Up On &#8216;KPop Demon Hunters&#8217;, &#8216;Stranger Things&#8217; And More</a></li>
</ul>



Photo: Shutterstock

Entertainment

Media

AMC Entertainment Q3 Highlights: Revenue Beat, Admissions Per Person Hits Record — Q4 Could Be Best In Six Years

Trading platform company Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) reported third-quarter financial results on Wednesday <a href="https://www.benzinga.com/earnings">after market close.</a>



 • Get the complete HOOD stock picture<a href="https://www.benzinga.com/quote/HOOD" target="_blank" rel="noreferrer noopener"> here.</a>



Here are the key highlights.



Q3 Results: Robinhood reported third-quarter revenue of $1.27 billion, up 100% year-over-year. The total revenue beat a Street consensus estimate of $1.19 billion, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110525&amp;t=be2bearmibe3na1">from Benzinga Pro</a>. This also marked a company quarterly record for revenue.



Transaction-based revenue was $730 million for the quarter, up 129% year-over-year. Here are the transaction-based revenue segments and their growth:



<ul class="wp-block-list">
<li>Cryptocurrencies Revenue: $268 million, up over 300% year-over-year</li>



<li>Options Revenue: $304 million, up 50% year-over-year</li>



<li>Equities Revenue: $86 million, up 132% year-over-year</li>
</ul>



The company reported quarterly earnings per share of 61 cents per share, beating a Street consensus estimate of 48 cents per share.



Net deposits were $20 billion in the quarter, a new record.



The company said its Robinhood Gold Subscribers hit a record 3.9 million in the quarter.



Funded Customers hit 26.8 million at the end of the quarter, up 10% year-over-year, with 27.9 million Investment Accounts, up 11% year-over-year.



The company's average revenue per user grew by 82% year-over-year to $191 in the quarter.



Robinhood now has 11 business lines that generate $100 million or more in annualized revenues.



"Our team's relentless product velocity drove record business results in Q3 and we're not slowing down — Prediction Markets are growing rapidly, Robinhood Banking is starting to roll out, and Robinhood Ventures is coming," Robinhood CEO Vlad Tenev said.



Robinhood Chief Financial Officer Jason Warnick said the third quarter "was another strong quarter of profitable growth" and showed the company's diversification efforts with Prediction Markets and Bitstamp each generating $100 million or more in annualized revenues.



The company said Event Contracts Traded as part of the Prediction Markets more than doubled from the second quarter to 2.3 billion in the quarter. Event Contracts traded in October totaled 2.5 billion contracts, more than the entirety of the third quarter.



Read Also<a href="https://www.benzinga.com/trading-ideas/previews/25/11/48627842/robinhood-q3-preview-diversification-efforts-could-lead-to-record-revenue">: Robinhood Q3 Preview: Diversification Efforts Could Lead To Record Revenue</a>



What's Next: The company expects its full-year adjusted operating expenses and share-based compensation to be $2.28 billion.



"Q4 is off to a strong start in October, with record monthly trading volumes across equities, options, prediction markets, and future, and new highs for margin balances," Warnick said.



Warnick announced he will retire from the company next year, transitioning from CFO in the first quarter to a strategic advisor through Sept. 1, 2026. Robinhood finance veteran Shiv Verma was named as the company's next CFO.



HOOD Price Action: Robinhood stock is down 0.95% to $141.61 in after-hours trading on Wednesday versus a 52-week trading range of $26.74 to $153.86.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/11/48664339/taylor-swift-elon-musk-donald-trump-mrbeast-robinhood-just-made-their-mojo-tradable">Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable</a></li>
</ul>



<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="Robinhood Q3 Earnings Call 2025 &#x7C; $HOOD &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/F0-25BUcSPE?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>



Photo: Shutterstock

Management

Robinhood Q3 Highlights: Double Beat, Record Revenue, Prediction Markets Soar

BTIG analyst Mark Massaro reiterated a Buy rating for Tempus AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TEM">TEM</a>) with a price target of $96 following <a href="https://www.benzinga.com/quote/TEM/analyst-ratings" target="_blank" rel="noreferrer noopener">the third-quarter FY25 earnings beat</a>.



 •&nbsp;TEM is under selling pressure. <a href="https://www.benzinga.com/quote/TEM" target="_blank" rel="noreferrer noopener">Get the complete analysis here.</a>



<h2 class="wp-block-heading">Earnings Details</h2>



On Nov. 4, Tempus AI reported revenue of $334.21 million, topping&nbsp;analyst estimates&nbsp;of $328.73 million and marking an <a href="https://www.benzinga.com/markets/equities/25/11/48644466/tempus-ai-stock-tem-slides-6-overnight-heres-why-the-stock-is-trending" target="_blank" rel="noreferrer noopener">84.7% increase from a year earlier</a>.



The loss estimate of 17 cents was surpassed by the adjusted loss per share of 11 cents.



For FY25, the company raised its revenue guidance to $1.265 billion, up <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">from a previous guide of $1.260 billion</a>.



<h2 class="wp-block-heading">Analyst View</h2>



The analyst expects Tempus to secure additional pharma contracts for its data and services business.



The analyst expects average selling prices (ASPs) to rise as the mix shifts toward higher-priced tests, including the xT CDx at $4,500/test (up from $2,900 for xT LDT) and the xF liquid biopsy assay at $3,288/test (up from $2,919).



Expansion of commercial payor coverage for xF and xT CDx is expected, alongside continued development of TEM's algorithm business, says the analyst.



The analyst sees Tempus positioned at the convergence of several major trends: precision medicine and oncology (including liquid biopsies), AI and machine learning, and the move toward more personalized drug development and companion diagnostics for pharmaceutical companies.



TEM Price Action: TEM shares are down 2.74% at $82.18 at publication on Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/10/48395936/ark-invest-dumps-amd-stock-doubles-down-on-chinese-tech-giants-alibaba-and-baidu" target="_blank" rel="noreferrer noopener">Ark Invest Dumps AMD Stock, Doubles Down On Chinese Tech Giants Alibaba And Baidu</a></li>
</ul>

Analyst Color

Reiteration

Tempus AI Growth Outlook Boosted By Higher ASPs, Pharma Contracts, Analyst Says

<h2 class="wp-block-heading">Snapshot:</h2>



<ul class="wp-block-list">
<li>Google's new Willow quantum processor brings real-world quantum computing closer, reviving fears that Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) core cryptography could be cracked within a decade.</li>



<li>While "Q-Day" isn't here yet, the countdown has started and Bitcoin's famed immutability might soon become its biggest vulnerability.</li>
</ul>



<h2 class="wp-block-heading">Quantum Gets Practical</h2>



Despite the excitement it generates, quantum computing has largely remained in the lab – impressive in chess competitions but less so in practical, real-world business applications. Google's new Willow processor could change all that. It reportedly <a href="https://www.nature.com/articles/s41586-025-09526-6" rel="nofollow">slashes qubit error rates</a> and extends coherence times, the micro-moments when quantum states can hold still and make useful calculations.



For the first time, Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) says its system can run hundreds of logical qubits with enough error correction to execute a small-scale version of <a href="https://www.geeksforgeeks.org/dsa/shors-factorization-algorithm/" rel="nofollow">Shor's algorithm</a>, the code capable of cracking RSA encryption. That's the nightmare scenario cybersecurity experts have warned about for decades.



If Shor's algorithm ever scales fully, it won't just break passwords. It will break the Internet's cybersecurity model – and Bitcoin holders could be among the first victims.



<h2 class="wp-block-heading">The "Q-Day" Clock Starts Ticking</h2>



Bitcoin's core defenses use classical standards: <a href="https://hackernoon.com/how-sha-256-hashing-works-in-bitcoin" rel="nofollow">SHA-256</a> for mining and <a href="https://www.geeksforgeeks.org/computer-networks/blockchain-elliptic-curve-digital-signature-algorithm-ecdsa/" rel="nofollow">ECDSA</a> for wallets. Both rely on math problems that even supercomputers can't solve in human timeframes. But Shor's algorithm, running on a sufficiently powerful quantum computer, could reduce that to minutes.



That's the so-called <a href="https://bernardmarr.com/why-you-should-all-be-worried-about-q-day-and-the-collapse-of-digital-security/" rel="nofollow">Q-Day</a> – when quantum machines can decrypt what's now unbreakable. For Bitcoin, it could be an extinction-level event.



Particularly exposed are legacy wallets with old <a href="https://www.unchained.com/blog/bitcoin-address-types-compared" rel="nofollow">P2PK</a> addresses used in Bitcoin's early years, including some belonging to Satoshi himself. These show their public keys directly on-chain, handing future quantum attackers a ready-made target list. Estimates suggest they hold <a href="https://x.com/caprioleio/status/1975715778164052402" rel="nofollow">up to a quarter</a> of all the Bitcoins ever mined.



<h2 class="wp-block-heading">Why a Fix Isn't Simple</h2>



In theory, Bitcoin's cryptography can be upgraded to post-quantum algorithms. In practice, that's a governance nightmare. Bitcoin's codebase is&nbsp;<a href="https://thebitcoinmanual.com/articles/btc-ossification/">famously ossified</a>, and meant to be. Even minor tweaks can take years of wrangling.



The last major upgrade, Taproot, took half a decade of debate. A move to quantum-resistant signatures would require a hard fork so divisive it could fracture the network's consensus, the very mechanism that makes Bitcoin secure.



Bitcoin's immutability is both its moat and its trap.



<h2 class="wp-block-heading">How Close Are We, Really?</h2>



Not that Q-Day is tomorrow. Experts still believe cracking Bitcoin's encryption would need&nbsp;millions&nbsp;of stable, error-corrected qubits. Google's Willow operates in the low hundreds.



Still, the direction is clear. IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>), IonQ (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IONQ">IONQ</a>), and Quantinuum are racing to close the gap. Governments are already preparing: NIST has standardized <a href="https://www.nist.gov/news-events/news/2024/08/nist-releases-first-3-finalized-post-quantum-encryption-standards" rel="nofollow">quantum-resistant algorithms</a> like CRYSTALS-Kyber and Dilithium for future systems. Ethereum's Vitalik Buterin advocates a <a href="https://hackernoon.com/ethereum-2030-vitaliks-audacious-vision-vs-harsh-reality-check" rel="nofollow">gradual migration</a> to such schemes, while startups like PQShield and Quantinuum are testing hybrid blockchains that combine classical and post-quantum primitives. 



<h2 class="wp-block-heading">BTC's Y2K Moment?</h2>



Skeptics call this the crypto version of Y2K: a real issue but inflated into <a href="https://www.empireonline.com/movies/news/y2k-trailer-millennium-bug-apocalypse-a24-horror-comedy/" rel="nofollow">an apocalypse</a>. Bitcoin has survived bans, energy crises, and 51% attack scares. But the difference is that Y2K had a deadline and a fix. Quantum's timeline is <a href="https://www.precedenceresearch.com/news/google-generative-ai-quantum-study" rel="nofollow">exponential</a> and opaque.



And some hackers aren't waiting. "Harvest now, decrypt later" is already a known tactic: steal encrypted data today, store it, and wait for quantum power to catch up. If applied to blockchain, that could mean millions of dormant BTC quietly mapped and waiting to be unlocked.



<h2 class="wp-block-heading">The Take Away</h2>



If Willow really signals the start of practical quantum computing, the countdown to a Bitcoin redesign has begun. Quantum might not kill it, but it could force the number one blockchain to make its first existential upgrade.



Cryptography underpins more than just crypto. Its the foundation of the modern digital economy. Once quantum hardware scales, the weakest links will go first. Bitcoin may simply be the canary in the quantum mine.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

General

Has Bitcoin's Q-day Countdown Begun? How Google's New Quantum Chip Could Break The Chain

Wall Street bounced back Wednesday after Tuesday's sharp selloff in AI-driven stocks, as investors bought the dip amid solid corporate earnings and growing signs that the Federal Reserve may be <a href="https://www.benzinga.com/markets/macro-economic-events/25/11/48653204/hiring-rebounds-but-its-still-too-weak-to-derail-a-december-fed-cut">nearing another interest rate cut.</a>



The ADP National Employment Report — the key labor gauge in the absence of official government data during the ongoing shutdown — showed that private employers added 42,000 jobs in October, rebounding from the 32,000 jobs lost in September and beating economists&#8217; expectations for a 25,000 gain.



While the uptick signals some resilience, the pace of hiring remains far below robust levels, underscoring continued cooling in the labor market and reinforcing market bets on a Fed rate cut in December.



By midday in New York, the S&amp;P 500 was up 0.9%, the Nasdaq 100 rose 1.1% after Tuesday's 2.2% drop, and small caps led the charge with the Russell 2000 gaining 1.7%.



Among mega-cap movers, Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LLY">LLY</a>) extended its post-earnings rally into a fifth straight session, with shares reaching their highest levels since September 2024.



In the tech sector, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMD">AMD</a>) impressed investors with stronger-than-expected results, sending its shares up 2.5% and easing fears of a "sell-the-news" reaction that hit Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) a day earlier.



Crypto markets also rebounded after two days of steep losses that pushed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) below $100,000. The largest digital currency rallied 2.5% to trade near $104,000, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) each gained about 4.4%.



In commodities, gold climbed 1.8% to $3,970 per ounce, silver added 2% to trade above $48, while West Texas Intermediate crude fell 1.5% to $59 a barrel. 



<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %</td></tr><tr><td>Russell 2000</td><td>2,467.61</td><td>1.7%</td></tr><tr><td>Nasdaq 100</td><td>25,727.63</td><td>1.1%</td></tr><tr><td>S&amp;P 500</td><td>6,834.55</td><td>0.9%</td></tr><tr><td>Dow Jones</td><td>47,461.32</td><td>0.8%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:45 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) rose 0.7% to $625.49.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) rose 0.6% to 473.74.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;rose 1% to $625.12.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) rallied 1.6% to $244.76.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLY">XLY</a>) outperformed, up 1.1%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLP">XLP</a>) lagged, up 0.2%.</li>
</ul>



<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers On Earnings Reports</h2>



<ul class="wp-block-list">
<li>Advanced Micro Devices Inc. up 2.3%</li>



<li>McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MCD">MCD</a>) up 2.2%</li>



<li>Arista Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ANET">ANET</a>) down 7.5%</li>



<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMGN">AMGN</a>) up 7.8%</li>



<li>Emerson Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EMR">EMR</a>) down 3.0%</li>



<li>Cencora Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COR">COR</a>) up 2.5%</li>



<li>Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SRE">SRE</a>) up 1.7%</li>



<li>Aflac Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AFL">AFL</a>) up 3.4%</li>



<li>Coupang Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CPNG">CPNG</a>) down 6.6%</li>



<li>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AXON">AXON</a>) down 9.8%</li>



<li>Corteva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CTVA">CTVA</a>) up 2.7%</li>



<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AIG">AIG</a>) down 3.5%</li>



<li>Targa Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TRGP">TRGP</a>) up 6.6%</li>



<li>Fidelity National Information Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FIS">FIS</a>) up 1.2%</li>



<li>Live Nation Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LYV">LYV</a>) down 7.5%</li>



<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HUM">HUM</a>) down 8.1%</li>



<li>Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ALAB">ALAB</a>) up 0.2%</li>



<li>Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IRM">IRM</a>) down 4.6%</li>



<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ES">ES</a>) down 0.9%</li>



<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SMCI">SMCI</a>) down 8.8%</li>



<li>Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RPRX">RPRX</a>) up 6.5%</li>



<li>Toast Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TOST">TOST</a>) up 10.0%</li>



<li>Bunge Global SA (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BG">BG</a>) up 4.8%</li>



<li>Zimmer Biomet Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ZBH">ZBH</a>) down 13.6%</li>



<li>Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PINS">PINS</a>) down 21.1%</li>



<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/U">U</a>) up 11.6%</li>



<li>Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LITE">LITE</a>) up 26.6%</li>



<li>International Flavors &amp; Fragrances Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IFF">IFF</a>) up 6.2%</li>



<li>Performance Food Group Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PFGC">PFGC</a>) up 1.4%</li>



<li>Equitable Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/EQH">EQH</a>) down 3.3%</li>



<li>Dynatrace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DT">DT</a>) down 5.7%</li>
</ul>



Stocks slated to report earnings after the close include QUALCOMM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QCOM">QCOM</a>), AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>), Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>), McKesson Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MCK">MCK</a>), DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DASH">DASH</a>), CRH plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CRH">CRH</a>), Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FTNT">FTNT</a>), The Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALL">ALL</a>), MetLife Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MET">MET</a>), Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FICO">FICO</a>), Atmos Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ATO">ATO</a>), HubSpot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HUBS">HUBS</a>), PTC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTC">PTC</a>), STERIS plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/STE">STE</a>), Curtiss-Wright Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CW">CW</a>), Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DVN">DVN</a>), Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COHR">COHR</a>), Talen Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TLN">TLN</a>), Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMCR">AMCR</a>), Corpay Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CPAY">CPAY</a>), Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TPL">TPL</a>), Royal Gold Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RGLD">RGLD</a>), CF Industries Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CF">CF</a>), TKO Group Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TKO">TKO</a>), Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>), Host Hotels &amp; Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HST">HST</a>), Revolution Medicines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RVMD">RVMD</a>), Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DUOL">DUOL</a>), The AES Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AES">AES</a>), MKS Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MKSI">MKSI</a>), Paycom Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PAYC">PAYC</a>), Primerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PRI">PRI</a>), Permian Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PR">PR</a>), and Penumbra Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PEN">PEN</a>).



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AMCR

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SMCI

TOST

TRGP

Stocks Rebound, Eli Lilly Jumps To 14-Month Highs: What's Moving Markets Wednesday?

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