Ultime notizie per Meridian (NASDAQ:MRBK) Azioni

Meridian

Meridian Corp is a bank holding company. Through its banking subsidiary, it operates as a full-service, state-chartered commercial bank providing personal, business lending, and deposit services. It operates in three reportable segments including Bank, Wealth, and Mortgage. The company generates maximum revenue from the Bank segment which consists of commercial and retail banking. It generates interest income from its lending (including leasing) and investing activities and is dependent on the gathering of lower-cost deposits from its branch network or borrowed funds from other sources for funding its loans.

Meridian Corp

Macro Economic Events

News

Econ #s

Economics

Eurozone Unemployment Rate For April: 6.2% Vs. 6.2% Est.; 6.3% (Revised) Prior

Eurozone Consumer Price Index (YoY) Preliminary For May 1.9% Vs. 2.0% Est.; 2.2% Prior

Eurozone Consumer Price Index (MoM) Preliminary For May 0.0% Vs. 0.6% Prior

Eurozone Core Consumer Price Index (YoY) Preliminary For May 2.3% Vs. 2.4% Est.; 2.7% Prior

The Trump administration is demanding that countries submit their best trade negotiation offers by Wednesday as officials accelerate talks with multiple partners ahead of a July 8 deadline.
What Happened: The draft letter reveals urgency within the administration to complete deals against its tight deadline, Reuters reported. Trump paused his &#8220;Liberation Day&#8221; tariffs for 90 days until July 8 after stock, bond and currency markets revolted over the sweeping nature of the levies in early April.
The U.S. is asking countries to list their best proposals, including tariff and quota offers for U.S. industrial and agricultural products, plans to remedy non-tariff barriers, commitments on digital trade and economic security, and country-specific commitments, according to a draft letter from the United States Trade Representative seen by Reuters. 
The U.S. will evaluate responses within days and offer &#8220;a possible landing zone&#8221; that could include reciprocal tariff rates.
Washington has been engaged in active negotiations with the European Union, Japan, Vietnam and India, among others. So far only one agreement has been reached with a major trading partner &#8211; Britain, though that limited pact was more akin to a framework than a final deal.
A USTR official confirmed, according to the report, that &#8220;productive negotiations with many key trading partners continue at a rapid pace.&#8221;
USTR did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45739846/snowflake-sets-sights-on-350-billion-database-market-with-crunchy-data-acquisition">Snowflake Sets Sights On $350 Billion Database Market With Crunchy Data Acquisition</a>
Why It Matters: The Court of International Trade ruled last Wednesday that Trump overstepped his authority with tariffs under the International Emergency Economic Powers Act, though an appeals court temporarily paused that decision. 
The draft letter warns partners not to expect tariffs will be sidelined, stating Trump &#8220;intends to continue this tariff program pursuant to other robust legal authorities if necessary.&#8221;
Experts <a href="https://www.benzinga.com/news/politics/25/05/45691310/trump-tariff-uncertainty-enters-courts-experts-say-investors-should-expect-elevated-turbulence-amid-the-bullish-gridlock">forecast elevated market turbulence</a> until trade clarity emerges, with LPL Financial&#8216;s chief technical strategist noting &#8220;the market hates uncertainty&#8221; and that &#8220;high levels of trade policy uncertainty tend to correlate with high implied volatility.&#8221; 
The administration is considering alternative approaches, including <a href="https://www.benzinga.com/news/25/05/45688655/trump-administration-mulls-global-tariffs-of-about-15-for-150-days-under-existing-trade-laws-report">using the Trade Act of 1974</a> to impose broad tariffs of up to 15% for 150 days while developing tailored tariffs for individual partners.
Read Next:
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<li><a href="https://www.benzinga.com/markets/treasuries/25/06/45739830/us-dollar-decouples-with-10-year-treasuries-as-trade-tensions-change-long-standing-relationships-between-asset-classes">US Dollar Decouples With 10-Year Treasuries As Trade Tensions Change Long-Standing Relationships Between Asset Classes</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report

XPRO

Expro's Autonomous iTONG Achieves First African Deployment, Delivering Efficiency Gains For Offshore Drilling

Aurora Mobile's EngageLab And GPTBots.ai Achieve SOC 2 Type II Certification, Reinforcing Global Commitment To Data Security And Compliance

Accenture To Acquire SIPAL's Integrated Product Support Business In Italy, Boosting Engineering Capabilities For Aerospace And Defense

Intercontinental Exchange And STOXX Collaborate To Deliver Benchmark Fixed Income Climate Indices Backed By Proprietary Data And Trusted Index Services

Widely followed cryptocurrency analyst Willy Woo has shared an ambitious long-term price target for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), framing its value against the global economy rather than the U.S. dollar.
What Happened: In an X post, Woo theorized that the apex cryptocurrency will be equivalent to the total world GDP divided by 21 million, i.e., Bitcoin&#8217;s hard cap, with a margin of 50% on either side. 
He projected that this valuation, tied to Bitcoin's fixed supply cap, could take nearly two decades to materialize.
An X user, Alex, was curious as to why an asset whose value is essentially determined by the store of value thesis could be quantified in terms of annual world production.
&#8220;As GDP grows, so does the money to buy all its goods and services,&#8221; Woo responded. &#8220;Gold used to be that money. BTC is the challenger. Fiat is a short term distortion when viewed in long time frames. Hard money will return.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My long term target for BTC price is not dollars as that continues to be debased. My target is World GDP / 21 million. Give or take +/- 50%. Will take the good part of 2 decades to get there.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1929528638937948640?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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According to the International Monetary Fund, global GDP in April 2025 was <a href="https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD">estimated </a>at $113.8 trillion, with a real annual growth rate of 2.8%. At this rate, the GDP in the next 20 years would be approximately $197.69 trillion.
Going by Woo&#8217;s formula, i.e., World GDP in 2 decades / 21 million, will give the price of a Bitcoin at $9.41 million apiece. The lower bound is $4.70 trillion after deducting 50%, while the upper bound is $14.11 million after adding 50%.
This was similar to what a user in Woo&#8217;s post calculated. Woo went a step further, adding a 5% dollar depreciation rate to the calculations, arriving at a price of $20 million per coin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One correction I'd make. Real GDP growth is 2%, while debasement is 5%. So if we inflate GDP at 7% per year for 20 years measured in debasing USD, that would be $425T or $20M per coin give or take 50%.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1929583212260741440?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin &#8211; Benzinga</a>
Why It Matters: Woo&#8217;s million-dollar prediction aligned with that of Michael Saylor, a well-known Bitcoin advocate and co-founder of Bitcoin holding company, Strategy. Saylor projected BTC at <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45417306/michael-saylors-bitcoin-strategy-infinite-money-glitch-or-a-reflexive-leverage-bet">$1 million within 10 years</a>, and potentially $13 million by 2045.
Additionally, Tom Lee, a noted financial analyst, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45727395/tom-lee-predicts-bitcoin-to-hit-250000-by-end-of-2025-3m-long-term">projected Bitcoin</a> to reach $2 million, or even $3 million, in the long term.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $104,980.06, down 0.53% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp; 
Read Next:&nbsp;
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<li><a href="https://benzinga.com/markets/cryptocurrency/24/12/42716882/dogecoin-could-surge-7185-in-2025-top-analyst-delivers-bold-forecast-is-23-in-the-cards-for-the-good-boy" target="_blank" rel="noreferrer noopener">Dogecoin Could Surge 7185% In 2025, Top Analyst Delivers Bold Forecast: Is $23 In The Cards For The Good Boy?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo Courtesy: Quality Stock Arts on Shutterstock

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

Cryptocurrency

Markets

$BTC

Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — 'Gold Used To Be That Money, BTC Is The Challenger'

Former acting White House Chief of Staff Mick Mulvaney has expressed doubt on President Donald Trump's ability to <a href="https://www.benzinga.com/25/05/45685544/scott-bessent-says-us-china-trade-talks-at-stalemate-need-trump-and-xi-jinping-touch-to-break-the-deadlock">strike a deal</a> with Chinese Premier Xi Jinping. 
What Happened: Mulvaney, speaking <a href="https://www.bloomberg.com/news/articles/2025-06-03/trump-s-man-to-man-style-won-t-work-on-xi-former-aide-says">to</a> Bloomberg TV, highlighted a fundamental distinction between both leaders' approaches to diplomacy.
"There's a fundamental disconnect here," he said. "Trump wants to talk at the very highest levels. That's not always how the Chinese want to do business." Trump, who is known to prefer direct engagement, wants to have a call with Xi. The White House said it is likely to take place this week.
Mulvaney observed that this tactic may not be compatible with how Xi usually operates. "I do not see them being able to pull off a deal the old-fashioned way, which is going through the back channels," he explained. "And I think it'd be very difficult to do a deal going the Trump way, which is only Xi to Trump man-to-man."
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45738506/microsoft-fires-hundreds-more-workers-amid-ai-fueled-growth-calls-it-positioning-the-company-for-success">Microsoft Fires Hundreds More Workers Amid AI-Fueled Growth, Calls It Positioning The Company For &#8216;Success&#8217;</a>
Why It Matters: Trump likes to communicate directly with leaders, both in case of politics and business, according to Mulvaney, who also served as his budget director in the past. This contrasts with Xi's practice of negotiating and resolving key issues through advisers before any leader-level engagement.
Mulvaney also presented a larger critique of Beijing. "They can't steal people's intellectual property. They can't force you into bad deals in order to do business in your country. They can't hide information when they deal with pandemics, like they did with Covid-19," he said. "First-tier nations of the world don't do that. China's going to become a first-tier nation. They need to step up their game."
Mulvaney's comments come just as <a href="https://www.benzinga.com/news/politics/25/06/45715447/xi-jinpings-china-dismisses-trumps-groundless-accusations-on-geneva-trade-deal-breach-vows-strong-retaliation">China refuted claims of violating agreements made in Geneva</a>, stating that it &#8220;implemented and consistently upheld&#8221; the terms of the deal reached last month.
The ministry also rebuked Washington's actions, citing "discriminatory restrictive" measures imposed by the U.S., including curbs on <a href="https://www.benzinga.com/25/05/45534527/china-warns-of-legal-retaliation-against-us-chip-sanctions-threatens-lawsuits-for-aiding-discriminatory-tech-crackdown">AI chip exports</a>, bans on chip design software, and <a href="https://www.benzinga.com/general/education/25/05/45664141/trump-administration-to-revoke-visas-of-chinese-students-tied-to-ccp-or-critical-fields-tightens-screening">visa revocations</a> for Chinese students.
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">TSMC CEO Admits Trump Tariffs Have &#8216;Some Impact&#8217; On Chipmaker But Demand &#8216;Consistently Outpacing&#8217; Supply Thanks To AI</a></li>
</ul>
Photo courtesy: Joey Sussman / Shutterstock.com

Politics

Trump's 'Man-To-Man' Diplomacy Won't Work With Xi Jinping, Warns Former White House Chief Of Staff As Tariff Deadlock Continues

Demis Hassabis, CEO of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google&#8217;s DeepMind, believes that while AI is displacing certain jobs, it will also create new, &#8220;very valuable&#8221; roles, particularly for those adept at leveraging emerging technologies.
What Happened: Speaking at SXSW London, the former Nobel prize awardee emphasized that AI&#8217;s impact will surpass that of the Industrial Revolution, but he remains optimistic due to humanity&#8217;s adaptability. He noted that over the next five to ten years, AI will &#8220;supercharge&#8221; technically savvy individuals who are at the forefront of using these technologies.
According to a report by Business Insider, Hassabis <a href="https://www.businessinsider.com/demis-hassabis-google-deemind-study-future-jobs-ai-2025-6">highlighted</a> that today&#8217;s children will grow up &#8220;AI native,&#8221; similar to how previous generations adapted to the internet. He advised students to focus on STEM subjects such as mathematics, physics, and computer science to understand the fundamentals of AI systems.
Additionally, he recommended that individuals experiment with the latest AI tools to discover innovative applications and use cases, stating, &#8220;I&#8217;d also be experimenting with all the latest AI systems and tools and seeing what&#8217;s the best way of utilising them and making use of them in useful and novel ways.&#8221;
See also: <a href="https://www.benzinga.com/markets/tech/25/06/45739130/elon-musks-tesla-defies-european-slump-with-norway-sales-growth-in-may-model-y-comes-to-the-rescue">Elon Musk&#8217;s Tesla Defies European Slump With Norway Sales Growth In May: Model Y Comes To The Rescue</a>
Despite the current job market shifts, with companies like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc. using AI to automate tasks like coding, Hassabis remains optimistic about AI&#8217;s potential. He predicts that Artificial General Intelligence (AGI), AI with capabilities equal to or exceeding human intelligence, <a href="https://www.benzinga.com/25/05/45599346/why-googles-demis-hassabis-disagrees-with-co-founder-sergey-brin-on-when-agi-will-arrive-and-sets-a-much-higher-bar">could arrive</a> by around 2030.
Why It Matters: Several prominent voices share Hassabis's optimism about AI's potential to create new jobs. Meta CEO Mark Zuckerberg envisions AI evolving into a &#8220;<a href="https://www.benzinga.com/tech/25/05/45338301/zuckerberg-foresees-tech-industry-revolution-with-ai-an-ai-that-can-effectively-be-a-sort-of-midlevel-engineer">midlevel engineer</a>&#8221; capable of writing code, enabling small, talent-dense teams to develop high-quality products. He believes this transformation will lead to a tech industry revolution, urging startups to adapt and harness AI&#8217;s capabilities.
Mark Cuban believes AI will <a href="https://www.benzinga.com/news/25/05/45691457/mark-cuban-claps-back-at-anthropic-ceo-dario-amodeis-ai-job-loss-warning-new-companies-with-new-jobs">create more jobs</a> too, recently hitting back at Anthropic CEO Dario Amodei‘s warning that people should be &#8220;worried&#8221; about the AI age. Meanwhile, Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang believes students should already try and harness what they can from AI to help <a href="https://www.benzinga.com/tech/25/05/45485072/if-i-were-a-student-today-heres-how-id-use-ai-to-do-my-job-better-says-nvidia-ceo">improve career prospects</a> and productivity.
According to&nbsp;Benzinga Edge Stock Rankings, Alphabet has received a growth score of 88.54%.&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Click here to see how it stacks up against the likes of Apple</a>. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-1024x149.png" alt="" class="wp-image-936220" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1.png 1442w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">TSMC CEO Admits Trump Tariffs Have &#8216;Some Impact&#8217; On Chipmaker But Demand &#8216;Consistently Outpacing&#8217; Supply Thanks To AI</a></li>
</ul>
Photo courtesy: JHVEPhoto / Shutterstock.com

Tech

GOOG

GOOGL

MSFT

NVDA

Google's Demis Hassabis Says AI Natives Have 'Very Valuable' Jobs Waiting For Them, But They Need To Study These Subjects At School

<h3>Companies Reporting Before The Bell</h3>
• NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is likely to report quarterly loss at $0.22 per share on revenue of $1.71 billion. 
• National Energy Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NESR#NASDAQ">NESR</a>) is projected to report earnings for its first quarter. 
• Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) is projected to report quarterly earnings at $0.77 per share on revenue of $570.27 million. 
• Citi Trends (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRN#NASDAQ">CTRN</a>) is expected to report quarterly loss at $0.26 per share on revenue of $193.28 million. 
• Ferguson Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is likely to report quarterly earnings at $2.29 per share on revenue of $7.45 billion. 
• Signet Jewelers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) is estimated to report quarterly earnings at $1.27 per share on revenue of $1.54 billion. 
• Dollar General (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is estimated to report quarterly earnings at $1.46 per share on revenue of $10.25 billion. 
• Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) is likely to report quarterly earnings at $0.96 per share on revenue of $960.74 million. 
<h3>Companies Reporting After The Bell</h3>
• Yext (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $113.64 million. 
• Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) is likely to report quarterly earnings at $0.42 per share on revenue of $279.91 million. 
• Sportsman's Warehouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWH#NASDAQ">SPWH</a>) is expected to report quarterly loss at $0.47 per share on revenue of $238.25 million. 
• Mama's Creations (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAMA#NASDAQ">MAMA</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $32.74 million. 
• CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is estimated to report quarterly earnings at $0.96 per share on revenue of $1.11 billion. 
• Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) is estimated to report earnings for its first quarter. 
• Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $7.92 billion. 
• HealthEquity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $320.41 million. 
• Asana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $185.47 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ASAN

BASE

CRWD

CTRN

FERG

GWRE

MAMA

NESR

OLLI

SPWH

YEXT

Earnings Scheduled For June 3, 2025

Chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may have carved out a lead for itself in AI that is nearly impossible to dislodge, according to a former Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) engineer, who believes that the latter might still have an upper hand across a few niche areas.
What Happened: On Monday, AlphaSense, an expert network that connects investors with subject-matter experts, shared the call transcript of one such conversation between an analyst and an ex-AMD engineer.
The expert in the call outlined the reasons Nvidia&#8217;s dominance in AI seems unassailable, and it has to do with what&#8217;s currently being taught to students at the university level.
According to the expert, universities are training students on Nvidia's software, making its tools and libraries the default. See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">TSMC CEO Admits Trump Tariffs Have &#8216;Some Impact&#8217; On Chipmaker But Demand &#8216;Consistently Outpacing&#8217; Supply Thanks To AI</a>
They credit this to the company&#8217;s early and aggressive investment in AI tooling, leaving it with such a deeply entrenched software dominance that newer entrants and even established rivals like AMD might struggle to match.
&#8220;Nvidia was investing extremely heav[ily]… 20 years ago, on AI and large language models,&#8221; the expert said. &#8220;You could almost call it throwing away money at the time.&#8221;
This strategy, they note, has since paid off, with Nvidia now having what they call an &#8220;unassailable tool flow and library for all things AI.&#8221;
Yet, they highlighted certain meaningful strengths of AMD, particularly in the realm of robotics. Unlike Nvidia's top-down strategy focused on high-level processing, AMD has built credibility in low-level motor control and embedded systems, they say. 
In fact, companies like Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and ABB Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ABBNY#OTC">ABBNY</a>) have both publicly endorsed AMD for its contributions to real-time robotics tasks. 
While Nvidia dominates in vision AI and large-scale inference, areas crucial to humanoid robotics and LLM applications, AMD's bottom-up capabilities position it well in industrial and healthcare robotics, where power efficiency and real-time control matter more than raw GPU horsepower, according to the expert.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Former <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> employee shares his view on the positioning of <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> and <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> in the robotics industry: &#8211; According to the expert, AMD is heavily involved in many subsystems that make up robotics systems. <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> grew from the bottom up, in contrast to <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>, which, according to the… <a href="https://t.co/iJE0GAq8HC">pic.twitter.com/iJE0GAq8HC</a>
&mdash; AlphaSense (@AlphaSenseInc) <a href="https://twitter.com/AlphaSenseInc/status/1929561262712832286?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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Why It Matters: According to recent reports, AMD is <a href="https://www.benzinga.com/25/05/45550527/amd-takes-on-nvidia-stock-with-direct-shot-at-gpus-reviewer-says-rx-9060-could-hit-the-bullseye">catching up with Nvidia</a> in the GPU race rather quickly, with new products that offer considerably more bang for the buck, or as one reviewer called it, &#8220;15% better gaming performance per dollar,&#8221; relative to Nvidia&#8217;s 5060 Ti.
Tech giants, such as Elon Musk&#8217;s xAI, too, have committed to buying many GPUs from Nvidia in the months to come, along with &#8220;some from AMD.&#8221;
Price Action: AMD shares were up 3.52% on Monday, trading at $114.63, while Nvidia shares traded at $137.38, up 1.37%. Both stocks are flat after hours, up 0.11% and 0.01%, respectively.
<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="138" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1024x138.png" alt="" class="wp-image-936043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1024x138.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1536x207.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM.png 1614w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Nvidia ranks well on Momentum and Growth according to Benzinga&#8217;s Edge Stock Rankings, while having a favorable price trend in the short, medium, and long term. How does it compare with Nvidia? Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to find out. 
Photo Courtesy: Hepha1st0s On Shutterstock.com
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<li><a href="https://www.benzinga.com/news/social-media/25/06/45738963/elon-musks-xai-targets-113-billion-valuation-with-300-million-share-sale-report">Elon Musk&#8217;s xAI Targets $113 Billion Valuation With $300 Million Share Sale: Report</a></li>
</ul>

Equities

ABBNY

ISRG

Nvidia's 20-Year AI Bet Creates 'Unassailable' Moat, Warns Ex-AMD Engineer

Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) on Monday completed its $200 million acquisition of Bitstamp Ltd., one of the longest-running global exchanges facilitating Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrency trading for both retail and institutional investors.
What Happened: The deal brings Bitstamp&#8217;s over 50 active global licenses and registrations to Robinhood&#8217;s platform. As of April 30, Bitstamp served over 500,000 funded retail customers and approximately 5,000 institutional customers, with exchange volume predominantly institutional-focused.
Bitstamp generated total net revenues of approximately $95 million over the last twelve months ending April 30. Robinhood expects the acquisition to be roughly Adjusted EBITDA neutral immediately following close and accretive within 12 months.
For the remaining seven months of 2025, Robinhood anticipates recording approximately $65 million in Bitstamp-related costs, primarily driven by business operations, integration expenses, and purchase price amortization.
CEO Vlad Tenev announced the completion via social media, while Robinhood Crypto General Manager Johann Kerbrat called it &#8220;a major milestone in growing Robinhood Crypto,&#8221; noting the partnership brings customers across the EU, UK, U.S. and Asia.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitstamp is now part of Robinhood, adding a globally-scaled crypto exchange and our first-ever institutional crypto business. Our work is just beginning. <a href="https://t.co/VDjGS1KuBb">https://t.co/VDjGS1KuBb</a>
&mdash; Vlad Tenev (@vladtenev) <a href="https://twitter.com/vladtenev/status/1929659333220212873?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45739199/american-politicians-dont-believe-bitcoin-can-co-exist-peacefully-with-the-dollar-says-this-popular-btc-maximalist-heres-why">American Politicians Don&#8217;t Believe Bitcoin Can &#8216;Co-Exist Peacefully&#8217; With The Dollar, Says This Popular BTC Maximalist: Here&#8217;s Why</a>
Why It Matters: Bitstamp is already connected to Robinhood Legend and the company&#8217;s Smart Exchange Routing offering, facilitating integration. The exchange serves institutional customers, with exchange volume mostly institutional-focused.
This deal follows Robinhood&#8217;s recent expansion strategy, including its <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45372870/robinhood-to-acquire-canadas-wonderfi-for-178m-all-cash-deal">$178 million acquisition agreement</a> for Canadian crypto platform WonderFi Technologies Inc. in May, demonstrating the company&#8217;s aggressive push into international crypto markets.
Price Action: Robinhood closed at $67.98 on Monday, up 2.77%. After hours, it rose 0.90% to $68.59. Year to date, the stock is up 72.36%.
According to Benzinga Edge Stock Rankings, Robinhood shows strong momentum and impressive growth, with a low value score indicating premium pricing. However, the stock maintains a positive price trend across the short to long term. Click here to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">view the full stock breakdown</a>.
<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="886" height="638" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19.png" alt="" class="wp-image-936195" style="width:605px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19.png 886w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19-768x553.png 768w" sizes="(max-width: 886px) 100vw, 886px" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

HOOD

Robinhood Completes $200 Million Bitstamp Deal, Gains Access To 500K+ Crypto Users And $95 Million Revenue Stream

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has filed a fresh trademark application for the wordmark "Tesla Robotaxi" with the U.S. Patent and Trademark Office (USPTO) after the <a href="https://www.benzinga.com/25/05/45278182/elon-musks-cybercab-ambitions-face-latest-snag-teslas-robotaxi-trademark-filing-refused-by-authorities">agency previously rejected </a>its application.
What Happened: The EV giant applied for the trademark with the agency on May 30, the filing shows. Currently, the filing is yet to be reviewed by an examining attorney, but has been accepted by the USPTO.
This agency stated that the filing by Tesla for the trademark "Robotaxi" was too generic, as the term Robotaxi is also used by ride-sharing companies to describe self-driving cabs.
<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="563" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1024x563.jpg" alt="" class="wp-image-936177" style="width:580px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1024x563.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-300x165.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-768x422.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1536x845.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-2048x1126.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: USPTO
"Registration is refused because the applied-for mark merely describes a feature, ingredient, characteristic, purpose, function, intended audience of the applicant&#8217;s goods and/or services,&#8221; the agency stated.
Why It Matters: The application comes as Tesla is gearing up to launch its Robotaxi services in <a href="https://www.benzinga.com/tech/25/05/45662671/tesla-targets-june-12-for-robotaxi-launch-in-austin-elon-musk-says-company-ramped-up-fsd-testing-a-month-ahead-of-schedule">Austin on June 12</a>. Tesla CEO Elon Musk had previously stated that the launch would have over 10-20 Model Ys initially.
The launch could also prove to be pivotal for the company's future, according to Wedbush Securities' analyst Dan Ives, who called the robotaxi launch a <a href="https://www.benzinga.com/news/25/05/45536187/dan-ives-calls-teslas-austin-robotaxi-launch-a-watershed-moment-maintains-bullish-views-on-tesla">"watershed moment" for Tesla</a>.
The robotaxi race is heating up in the U.S. with Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) <a href="https://www.benzinga.com/news/topics/25/06/45714095/chamath-palihapitiya-calls-tesla-an-obvious-win-says-robotaxi-alphabets-waymo-will-overtake-uber-and-lyft">Waymo recently surpassing</a> Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) in bookings in San Francisco, showcasing the rapid adoption of autonomous cabs in the country.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="184" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1024x184.jpg" alt="" class="wp-image-936179" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1024x184.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-300x54.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-768x138.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1536x277.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2.jpg 1649w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
TSLA scores well on Momentum, Growth, and Quality metrics, but offers poor Value. 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</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>
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Photo courtesy: Tada Images / Shutterstock.com

LYFT

TSLA

Elon Musk's Tesla Files New Autonomous Taxi Trademark Application Ahead Of Robotaxi Launch In June

Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) CEO C.C. Wei revealed during Tuesday&#8217;s shareholder meeting that he informed President Donald Trump that establishing a proposed $100 billion U.S. manufacturing venture will &#8220;take time,&#8221; beyond the anticipated timeline.
What Happened: Wei disclosed that TSMC has maintained ongoing dialogue with the U.S. Commerce Department regarding Trump&#8217;s semiconductor tariffs since their implementation, <a href="https://breakingthenews.net/Article/TSMC-to-Trump:-dollar100B-project-hardly-in-five-years/64218465">reported</a> Baha Breaking News. 
The CEO expressed concerns that higher duties would elevate TSMC&#8217;s U.S. production costs, though he emphasized that tariff policies remain &#8220;ultimately a matter between governments, not between a government and a company.&#8221;
Despite tariff headwinds, Wei assured investors that artificial intelligence chip demand continues to <a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">substantially outpace supply capabilities</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45738435/elizabeth-warren-says-trump-approved-the-largest-meat-company-in-world-to-be-listed-on-nyse-ignoring-corruption-and-bribery-history-demands-answers">Elizabeth Warren Says Trump &#8216;Approved&#8217; The Largest Meat Company In World To Be Listed On NYSE Ignoring Corruption And Bribery History, Demands Answers</a>
Why It Matters: The CEO explained that while tariffs don&#8217;t directly impact TSMC as an exporter, they create indirect pressure through <a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">higher import costs for customers.</a> &#8220;Tariffs can lead to slightly higher prices and when prices go up, demand may go down,&#8221; Wei noted.
TSMC&#8217;s cautious stance on U.S. expansion comes as the chipmaker weighs the <a href="https://www.benzinga.com/25/03/44084767/taiwan-semiconductor-weighs-100-billion-us-investment-as-chip-war-heats-up">massive $100 billion investment</a> over four years to build advanced manufacturing facilities stateside. The company has already committed over $65 billion to Arizona fabrication plants for advanced chip production.
Price Action: TSMC closed at $194.84 on June 2, up 0.79%. After hours, it rose 0.24% to $195.30. Year to date, the stock is down 3.34%.
Benzinga's Edge Stock Rankings show TSMC is enjoying a strong price trend across short, medium, and long-term horizons. For a deeper dive into the metrics, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click here</a>.
<figure class="wp-block-image 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="890" height="636" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03030508/image-16.png" alt="" class="wp-image-936133" style="width:538px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03030508/image-16.png 890w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03030508/image-16-300x214.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03030508/image-16-768x549.png 768w" sizes="(max-width: 890px) 100vw, 890px" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Jack Hong / Shutterstock.com

TSMC CEO Tells Trump $100 Billion US Chip Expansion Will 'Take Time' Amid Tariff Pressures, Surging AI Demand

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has brought generative video tools to everyday users by integrating OpenAI's Sora model into its Bing app, just weeks after Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google <a href="https://www.benzinga.com/25/05/45560919/everyones-losing-their-minds-over-googles-veo-3-ai-videos-and-everyones-also-annoyed-they-cant-actually-use-it-yet-here-are-some-wild-examples-of-the-magic-this-model-can-create">made headlines with its stunning</a> Veo 3 video AI.
What Happened: On Monday, Microsoft launched Bing Video Creator, allowing users to generate videos from text using OpenAI's Sora model—for free.
This marks the first time Sora is widely accessible to the public, as OpenAI had previously limited it to <a href="https://www.benzinga.com/news/25/04/45014781/adobe-invests-in-2-1b-ai-unicorn-synthesia-as-openais-sora-competes-in-the-race-for-ai-generated-video-dominance">select paying customers</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…'</a>
To use the tool, users must log into a Microsoft account through the Bing app. They can create 10 video clips at no cost, after which each video requires 100 Microsoft Rewards points.
Initially, users can queue up to three vertical (9:16) five-second videos at a time. Longer or horizontal videos aren&#8217;t supported yet, but Microsoft said more features are coming.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: The rollout follows Google's unveiling of Veo 3, an AI video model that not only produces cinematic-quality visuals but also adds realistic audio. a feature missing from Sora and rivals like Runway, Pika Labs, Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) MovieGen and Stability AI.
Elon Musk, whose company xAI&#8217;s Grok has been integrated into Microsoft Azure, also <a href="https://www.benzinga.com/tech/25/05/45599950/elon-musk-praises-google-deepminds-veo-3-ai-video-model-says-it-is-awesome">expressed admiration</a> for Veo 3.
Price Action: Microsoft shares edged up by 0.35% during Monday's regular session, reaching $461.97, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicate that Microsoft maintains a strong price trend over the short, medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More in-depth metrics are available here</a>.
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Photo Courtesy: FilipArtLab on Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Microsoft Brings OpenAI's Sora To The Masses With Free AI Video Generator In Bing App After Google's Veo 3 Wowed The Internet—Here's What You Can (And Can't) Do

The U.S. Department of Education has put a halt to its plans of reducing Social Security benefits for individuals who&nbsp;have been unable to pay their student&nbsp;loans, as per a department spokesperson.
What Happened:&nbsp;The U.S. Department of Education&nbsp;has put a hold on its plan to deduct Social Security benefits from those who&nbsp;have defaulted on their student&nbsp;loans,&nbsp;<a href="https://www.cnbc.com/2025/06/02/trump-pauses-social-security-benefit-cuts-over-defaulted-student-loans.html">CNBC</a>&nbsp;reported. Education Department spokesperson, Ellen Keast, confirmed the decision.
Meanwhile, Keast told The Hill, "In the coming weeks, the Department will begin proactive outreach to recipients about affordable loan repayment options and help them back into good standing.&#8221;
The Trump administration, which had previously announced the resumption of collection activities on the $1.6 trillion student loan portfolio, has now reversed its policy. The government had refrained from pursuing individuals who had fallen behind on payments for nearly five years due to COVID-19-related policies.
This policy change would bring relief to Social Security recipients, many of whom live on a fixed income and faced reductions of up to 15% in their benefits to repay defaulted student loans.
SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45727395/tom-lee-predicts-bitcoin-to-hit-250000-by-end-of-2025-3m-long-term" target="_blank" rel="noreferrer noopener">Tom Lee Predicts Bitcoin To Hit $250,000 By End Of 2025, $3M Long Term &#8211; Benzinga</a>
Why It Matters: This decision comes just a day after experts warned that&nbsp;June <a href="https://www.benzinga.com/personal-finance/management/25/06/45717822/june-social-security-checks-could-drop-sharply-due-to-student-loan-garnishments-experts-share-ways-to-get-relief">Social Security checks</a> could see a significant drop&nbsp;for retirees who&nbsp;have defaulted on their student&nbsp;loans.&nbsp;The U.S. Department of Education&#8217;s decision to restart involuntary collections on defaulted student loans, including garnishing wages, intercepting tax refunds and seizing a portion of Social Security benefits, was expected to impact retirees from June onwards.
Earlier in May, it was reported that the U.S. Department of Education&#8217;s decision to&nbsp;<a href="https://www.benzinga.com/25/05/45601283/social-security-checks-could-shrink-for-450000-retirees-as-government-resumes-seizing-benefits-over-student-loan-defaults">resume involuntary</a> collections on defaulted student loans&nbsp;could directly affect around 452,000 Americans aged 62 and older. Many of these retirees could see their monthly Social Security checks significantly reduced, in some cases down to just $750.
The administration's move to pause these deductions provides these older borrowers additional time to get current on their payments and avoid future reductions in their benefit checks.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/45737741/chuck-schumer-says-if-taco-trump-is-already-folding-on-iran-the-american-people-need-to-know-one-da">Chuck Schumer Says If &#8216;TACO Trump&#8217; Is Already Folding On Iran, The American People Need To Know: &#8216;One Day, He Sounds Tough, The Next Day He&#8217;s Backing Off&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Personal Finance

Trump Administration Pauses Social Security Garnishments Over Defaulted Student Loans: 'Department Will Begin Proactive Outreach To Recipients...'

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled higher on Monday, with the Nasdaq Composite gaining more than 100 points during the session.
Wall Street closed on a positive note last month, with the S&amp;P 500 gaining more than 6.2% in May and the Nasdaq jumping 9.6%. Both indices recorded their strongest months since November 2023. The Dow surged 3.9% for the month.
President Donald Trump announced over the weekend that tariffs on steel and aluminum imports will be doubled to 50% starting June 4, reigniting trade tensions with China. Beijing responded by accusing Washington of seriously violating trade agreements and pledged to take strong measures to defend its interests. The renewed dispute ignited a rally in precious and industrial metals.
Campbell's Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) posted better-than-expected third-quarter results. Lyra Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYRA#NASDAQ">LYRA</a>) shares jumped over 310% on Monday after the company announced its ENLIGHTEN 2 Phase 3 trial of LYR-210 met its primary endpoint.
On the economic data front, the ISM manufacturing PMI declined to 48.5 in May compared to 48.7 in April, also missing market estimates of 49.5. U.S. construction spending declined by 0.4% month-over-month to an annual rate of $2,152.4 billion in April following a revised 0.8% fall in March.
Most sectors on the S&amp;P 500 closed on a positive note, with energy, communication services and information technology stocks recording the biggest gains on Monday. However, industrial stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 35 points to 42,305.48 on Monday. The S&amp;P 500 gained 0.41% to 5,935.94, while the Nasdaq Composite climbed 0.67% at 19,242.61 during Monday's session.
Investors are awaiting earnings results from Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) and Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 62.3, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 61.6.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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Photo courtesy: Shutterstock

Pre-Market Outlook

LYRA

Nasdaq Surges Over 100 Points Despite Renewed Trade Concerns: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Press Releases

Meridian Corporation Reports Second Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share

Dividends

Meridian Corporation Reports Third Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share

Meridian Corporation Reports Fourth Quarter 2024 Results and Announces a Quarterly Dividend of $0.125 per Common Share

Meridian Corporation Reports First Quarter 2025 Results and Announces a Quarterly Dividend of $0.125 per Common Share

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