A hotter-than-expected January inflation report triggered sharp market reactions in early trading Wednesday, as investors dialed back their expectations for <a href="https://www.benzinga.com/government/regulations/25/02/43656846/inflation-rises-more-than-expected-in-january-chills-interest-rate-cut-hopes">Federal Reserve rate cuts. </a>



Traders pushed the first anticipated Fed rate cut to December 2025, while the second cut is now priced in no earlier than September 2026, as per CME FedWatch. 



A single rate cut in 2025 is also emerging as the most likely scenario according to betting odds as tracked by the CFTC-regulated Kalshi platform. 



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXRATECUTCOUNT-25DEC31?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzingawidget" width="552px" height="400px" style="border:0"></iframe>



<h3 class="wp-block-heading">A Hot Inflation Reading Derails Fed Rate Cut Hopes</h3>



The Consumer Price Index (CPI) rose 3.0% year-over-year, slightly above both the prior reading and expectations of 2.9%. This marks the fourth consecutive increase in annual inflation. 



The monthly reading was even more alarming as CPI surged 0.5%, the largest increase since August 2023, and the third straight month of accelerating price pressures. 



Among major CPI components, fuel oil saw the biggest jump, rising 6.2% month-over-month.



&#8220;The index for meats, poultry, fish, and eggs rose 1.9 percent over the month, as the index for eggs increased 15.2 percent. This was the largest increase in the eggs index since June 2015 and it accounted for about two thirds of the total monthly food at home increase,&#8221; the Bureau of Labor Statistics said. 



Yet, the rise in inflation was not solely driven by energy and food costs. 



When excluding food and energy, core CPI increased 3.3% year-over-year, up from the previous 3.2% and exceeding forecasts of 3.1%. On a monthly basis, core CPI climbed 0.4%, its highest reading since March 2024, and above consensus estimates of 0.3%.



&#8220;If the Fed were truly committed to its 2% inflation target, market participants would be discussing a potential rate hike and not just a longer pause in the cutting cycle,&#8221; commented economist Mohamed El Erian. 



Peter Schiff took a more extreme stance: &#8220;The Fed is way too loose. At a minimum, the Fed needs to do an inter-meeting 200 basis point rate hike today.&#8221;



In contrast, Robin Brooks, a senior fellow at the Brookings Institution, highlighted that January inflation readings have tended to be strong post-COVID, attributing the uptick to &#8220;noise and residual seasonality.&#8221;



&#8220;My best proxy for underlying inflation is &#8220;core&#8221; services and that looks well-behaved,&#8221; Brooks said. 



Before the CPI report, President Donald Trump called for lower interest rates in a Truth Social post, indicating that such a move would go &#8220;hand-in-hand&#8221; with tariffs.



<h3 class="wp-block-heading">Markets React: Stocks Fall, Dollar And Yields Surge</h3>



The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), was the major standout winner amid the higher-than-expected inflation reading, with the greenback gauge rallying 0.5%, eyeing the strongest session since early January. 



Treasury yields soared by 10 basis points on the 10-year maturity amid expectations of tighter Fed policies. The popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) tumbled by 1.5% in the premarket, potentially heading towards the worst day since late 2024. 



Higher yields sent stocks lower across the board. Contracts on the S&amp;P 500 fell 1%, while tech stocks in the Nasdaq 100 tumbled 1.1%. Small caps underperformed, with the Russell 2000 down 1.5%. 



Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), was down by 1.5%. Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell over 2%. 



Gold dipped by 0.3%, while oil prices fell 1.2%.Sentiment in cryptocurrency market weakened with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakening by over 1% below $95,000. 



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/02/43649613/mark-zuckerbergs-meta-platforms-sees-meteoric-surge-over-17-amid-historic-18-day-winning-streak-heres-what-technical-analysis-indicate-amid-overbought-conditions">Meta Stock Surges 17.47% In 17 Days, Marking One Of Its Longest Winning Streaks—Analysts Say There&#8217;s Still Room For Double-Digit Growth For Mark Zuckerberg&#8217;s Company</a></li>
</ul>



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NVDA

Inflation Spike Sparks Dollar Rally: Yields Jump, Bitcoin And Stocks Slide As Interest Rate Cut Doubts Grow

Price pressures surged more than expected in the first month of the year, fueled by increases in both energy goods and underlying service items, dampening investor expectations for Federal Reserve <a href="https://www.benzinga.com/topic/interest-rates">interest rate cuts</a>.



The headline Consumer Price Index rose to 3% year-over-year in data released Wednesday, up 0.1 percentage points compared to December and above median economist forecasts of 2.9%, as tracked by TradingEconomics. On a monthly basis, inflation grew by 0.5%, sharply outpacing expectations of 0.3% and accelerating from December&#8217;s 0.4% gain.



This marks the highest monthly inflation rate since August 2023.



Core inflation, which excludes volatile food and energy prices, inched up from 3.2% to 3.3% year-over-year. On a monthly basis, core inflation rose 0.4%, surprising estimates of 0.3% and outrunning December&#8217;s 0.2% increase.



Prior to the January inflation report, markets had fully priced in just one rate cut by the end of the year, while the probability of two reductions by December 2025 stands at about 42%, as per the CME FedWatch tool.



&#8220;The index for shelter rose 0.4 percent in January, accounting for nearly 30 percent of the monthly all items increase,&#8221; the Bureau of Labor Statistics indicated Wednesday. 



Fuel oil rose by 6.2% on the month, recording the highest monthly increase among CPI items. 



On Wednesday, President Donald Trump reaffirmed his stance that interest rates should be reduced, indicating this move would align with tariff policies.



Fed Chair Jerome Powell is set to testify before the Committee on Financial Services later on Wednesday. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Inflation measure</th><th>January 2025</th><th>December 2024</th><th>Expectations</th></tr></thead><tbody><tr><td>CPI YoY</td><td>3.0%</td><td>2.9%</td><td>2.9%</td></tr><tr><td>CPI MoM</td><td>0.5%</td><td>0.4%</td><td>0.3%</td></tr><tr><td>Core CPI YoY</td><td>3.3%</td><td>3.2%</td><td>3.1%</td></tr><tr><td>Core CPI MoM</td><td>0.4%</td><td>0.2%</td><td>0.3%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Market Reactions</h3>



The U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>),&nbsp;rallied 0.5% shortly after the release.



Treasury yields rose,&nbsp;with the 10-year yield up by 9&nbsp;basis points to 4.63%.



Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), tanked by 1%, along with futures on major U.S. indices.



Contracts on the S&amp;P 500 index, which is closely tracked by the SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), were down 1.1% by 8:37 a.m. ET. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plummeted 2% to below $95,000. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43651497/us-stocks-set-for-a-cautious-start-ahead-of-inflation-data-expert-says-strong-bull-markets-tend-to-roar-back-to-life-after-corrections">US Stocks Set For A Cautious Start Ahead Of Inflation Data: Expert Says &#8216;Strong Bull Markets Tend To Roar Back To Life After Corrections&#8217;</a></li>
</ul>



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Markets

Tech

Inflation Rises More Than Expected In January, Chills Interest Rate Cut Hopes

Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher in premarket</a> on Wednesday.



The company reported fourth-quarter sales growth of 26.2% year-on-year to $2.296 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43651950/restaurant-brands-international-inc-reports-full-year-and-fourth-quarter-2024-results" rel="noreferrer noopener">consensus estimate of $2.274 billion</a>.



Consolidated comparable sales increased 2.5%, and net restaurants grew 3.4% versus the prior year. Consolidated system-wide sales increased 5.6%.



Comparable sales for Tim Hortons rose 2.2%, Burger King increased 1.1%, and Popeyes Louisiana Kitchen slipped 0.2%. Revenue for Burger King rose 8.6%, and Popeyes Louisiana Kitchen increased 10.4%.



Adjusted EPS of $0.81 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus estimate of $0.79.</a>



General and administrative expenses remained flat year over year. The operating income for the quarter climbed 35.6% to $635 million.



Restaurant Brands held $1.3 billion in cash and equivalents as of December-end. Net cash provided by operating activities for twelve months totaled $1.5 billion.



Restaurant Brands&#8217; Board of Directors has declared a dividend of $0.62 per common share, payable on April 4 to shareholders and unitholders of record on March 21.



&#8220;I am proud of our performance this year, reflecting the strong foundations we&#8217;re building across our businesses and the dedication of our teams and franchisees who are executing the fundamentals of quality, service, and convenience with excellence,&#8221; said CEO Josh Kobza.



Outlook: Restaurant Brands expects FY25 segment general and administrative expenses, excluding RH, of <a href="https://www.benzinga.com/calendars/guidance">$650 million &#8211; $670 million.</a>



Restaurant Brands&nbsp;continues to expect&nbsp;to achieve, on average, from 2024 to&nbsp;2028,&nbsp;comparable sales of 3%+, net restaurant growth of 5%+, and system-wide sales growth of 8%+.



Price Action: QSR shares traded higher by 3.29% at $69.10 in premarket at the last check Wednesday.



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43635736/coty-faces-challenges-as-category-weakness-lies-ahead-say-analysts" target="_blank" rel="noreferrer noopener">Coty Faces Challenges As Category Weakness Lies Ahead, Say Analysts</a></li>
</ul>



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Burger King Parent Restaurant Brands Q4: Earnings Beat, 26% Sales Jump, Popeyes Comps Dip And More

On Wednesday, CVS Health Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) reported fourth-quarter sales of $97.71 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $97.19 billion</a>.



Total revenues increased 4.2%, driven by growth in the Health Care Benefits and Pharmacy &amp; Consumer Wellness segments, partially offset by a decline in the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43651952/cvs-health-corporation-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">Health Services segment</a>.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43636822/cvs-health-stock-is-relatively-cheap-analyst-highlights-cost-trend-pressure-ahead-of-q4-earnings" rel="noreferrer noopener">CVS Health Stock Is Relatively Cheap, Analyst Highlights Cost Trend Pressure Ahead Of Q4 Earnings</a>



Adjusted EPS of $1.19 decreased from $2.12 in the prior year, beating the consensus of $0.93, primarily due to a decline in the Health Care Benefits segment's operating results, which reflect continued utilization pressure and the unfavorable impact of the Company's Medicare Advantage star ratings for the 2024 payment year.



Adjusted operating income decreased 35.5% to $2.73 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/43010888/ftc-says-unitedhealth-cvs-cigna-make-billions-via-pbms-on-specialty-drugs" rel="noreferrer noopener">FTC Says UnitedHealth, CVS, Cigna Make Billions Via PBMs On Specialty Drugs</a>



Revenues in the Health Care Benefits segment increased 23.3% to $32.96 billion, primarily driven by growth in the Medicare and individual exchange product lines.



The Medical benefit ratio increased from 88.5% to 94.8% compared to the prior year, driven by increased utilization, the unfavorable impact of the previously disclosed decline in the company's Medicare Advantage star ratings for the 2024 payment year, and the impact of higher acuity in Medicaid.



Medical membership as of December 31, 2024, of 27.1 million, increased by 1.4 million members compared with December 31, 2023, reflecting increases in the Medicare and individual exchange product lines.



Health Services segment (offering pharmacy benefit management) sales decreased 4.3% to $47.02 billion, primarily driven by the previously announced loss of a large client and continued pharmacy client price improvements. These decreases were partially offset by the pharmacy drug mix, increased contributions from the company's healthcare delivery assets, and growth in specialty pharmacy.



Pharmacy &amp; Consumer Wellness segment sales increased 7.5% to $33.51 billion, primarily driven by pharmacy drug mix and increased prescription volume.



Prescriptions filled increased by 3.3%, and Same-store prescription volume increased by 5.9% in the quarter.



Guidance: CVS Health forecasts fiscal year 2025 adjusted EPS of $5.75-$6.00 versus consensus of $5.96.



The company expects GAAP EPS of $4.58 to $4.83, with cash flow from operations guidance of approximately $6.5 billion.



In the last 12 months, CVS stock has fallen by 29%. The stock has jumped today on positive Q4 report.



Price Action:&nbsp;CVS stock is up 9.89% at $60.44 during the premarket session on last check Wednesday



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43637593/astera-labs-to-outpace-its-peers-in-revenue-growth-in-2025-analyst-says" target="_blank" rel="noreferrer noopener">Astera Labs To Outpace Its Peers In Revenue Growth In 2025, Analyst Says</a></li>
</ul>



Photo: Around the World Photos via Shutterstock

Large Cap

Health Care

CVS Health Q4 Earnings: Revenue And EPS Beat, Same-store Prescription Volume Up 5.9%, Upbeat FY25 Outlook And More

U.S. stock futures fell on Wednesday after a mixed close on Tuesday as Federal Reserve Chairman Jerome Powell began his two-day testimony in front of Congress. All benchmark indices were lower except the Russell 2000.



Traders await the inflation data today as economists and betting markets are predicting a modest inflation report for January, boosting investor optimism that price pressures are easing and the Federal Reserve may continue its path toward interest rate cuts.



The headline consumer price index is <a href="https://www.benzinga.com/25/02/43627524/economists-betting-markets-predict-benign-january-inflation-what-could-go-wrong-this-time">forecasted to remain</a> at 2.9% year-over-year, based on median economist predictions tracked by TradingEconomics. Monthly, inflation is expected to increase by 0.3%, a slight deceleration from December&#8217;s 0.4% rise. 



The 10-year Treasury yield stood at 4.54%, while the two-year yield was at 4.29%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 95.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.07%</td></tr><tr><td>S&amp;P 500</td><td>-0.15%</td></tr><tr><td>Dow Jones</td><td>-0.17%</td></tr><tr><td>Russell 2000</td><td>0.07%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both experienced negative premarket trading on Wednesday. SPY fell 0.14% to $604.45, and QQQ declined 0.06% to $527.67, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Wall Street ended Tuesday&#8217;s session with a mixed performance as investors reacted to further tariff announcements and awaited key inflation figures.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares declined sharply following news of a partnership between Chinese electric vehicle maker BYD and AI firm DeepSeek to develop self-driving technology.



DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) surged in after-hours after strong results. Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) tumbled 5.4% after missing first-quarter guidance expectations and Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) jumped 4.73% after beating expectations.



Federal Reserve Chair Powell began his two-day testimony before Congress, stating that the Fed is in no hurry to change interest rates and reiterated its stance of not commenting on trade policy.



Communication services, health care, and consumer discretionary sectors fell, while all other sectors rose on Tuesday.



The Dow rose 123 points or 0.28% to 44,593.65, the S&amp;P 500 was up 0.03% and closed at 6,068.50, and the Nasdaq Composite declined by 0.36% to 19,643.86. Russell 2000 Index fell 0.53% to 2,275.70.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.36%</td><td>19,643.86</td></tr><tr><td>S&amp;P 500</td><td>0.03%</td><td>6,068.50</td></tr><tr><td>Dow Jones</td><td>0.28%</td><td>44,593.65</td></tr><tr><td>Russell 2000</td><td>-0.53%</td><td>2,275.70</td></tr></tbody></table></figure>



Insights From Analysts



Jurrien Timmer, the director of global macros at Fidelity Investments highlighted that strong bull markets tend to &#8220;roar back to life&#8221; after corrections.



He hinted that after the recent pull-back in the market caused by DeepSeek when just 17% of stocks were above their moving average, only 53% of stocks are now above their 50-day moving average. He termed it as a &#8220;weak recovery&#8221;.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The S&amp;P 500 equal-weight index remains below its all-time high, and only 53% of stocks are above their 50-day moving average. It's a rather weak recovery from the recent 5% pullback, during which only 17% of stocks were above their moving average. Strong bull markets tend to roar… <a href="https://t.co/mAm351Szew">pic.twitter.com/mAm351Szew</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1889420825557938504?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, underscoring U.S. equity fund and exchange-traded fund flows Timmer said &#8220;Sentiment remains quite constructive.&#8221;



&#8220;The sentiment surveys are more two-sided, but investors seem to remain poised for a good year in the markets,&#8221; he added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sentiment remains quite constructive, at least as far as equity flows are concerned. The sentiment surveys are more two-sided, but investors seem to remain poised for a good year in the markets. <a href="https://t.co/rx9Q9zwrtC">pic.twitter.com/rx9Q9zwrtC</a>&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1889420904691552541?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to the analysts at BlackRock, U.S. equities have proved resilient this year, though escalating trade tensions could keep the pressure on in the coming months.



&#8220;Resilient growth, solid corporate earnings, potential deregulation and the AI theme keep us upbeat. Q4 earnings growth has broadened as we expected, with S&amp;P 500 earnings excluding the &#8216;magnificent 7&#8217; stocks up about 5% from a year ago and the consensus eyeing a 10% rise this year, LSEG Datastream data show. We keep our tactical U.S. equity overweight yet watch for triggers for a change, such as earnings losing steam,&#8221; stated BlackRock&#8217;s weekly market note.



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



Upcoming Economic Data



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



<ul>
<li>Core and headline consumer price index data for January will be announced at 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Fed Chairman Powell&#8217;s testimony to Congress continues at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>Atlanta Fed President Raphael Bostic will speak at 2:00 p.m. and New York Fed President John Williams will speak again at 3:30 p.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s monthly U.S. federal budget data will be out by 2:00 p.m., ET.</li>
</ul>



<ul>
<li>Fed Governor Christopher Waller will be speaking at 5:05 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) was up 0.38% in the premarket on Wednesday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 93 cents per share on revenue of $97.19 billion.</li>
</ul>



<ul>
<li>Kraft Heinz Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) rose 0.71% as Wall Street expects it to report quarterly earnings of 78 cents per share on revenue of $6.66 billion before the opening bell.</li>
</ul>



<ul>
<li> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) slipped 0.24% ahead of its earnings, which will be released after the closing bell. Analysts expect it to report quarterly earnings of 91 cents per share on revenue of $13.87 billion.</li>
</ul>



<ul>
<li>DoorDash Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) was up 6.58% after it beat fourth-quarter expectations on revenue and EPS front and clocked 42 million monthly active users with a record high order frequency.</li>
</ul>



<ul>
<li>Pitney Bowes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBI#NYSE">PBI</a>) jumped 8.81% after reporting better-than-expected earnings for its fourth quarter and naming Bob Gold as its new CFO.</li>
</ul>



<ul>
<li>Zillow Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) was down 6.15% after reporting worse-than-expected earnings for its fourth quarter and issuing a weak revenue guidance for the first quarter.</li>
</ul>



<ul>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) advanced 0.93%, Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) rose 3.21%, Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) jumped 2.64% and Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) was up 0.44% ahead of their earnings today.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 1.12% to hover around $72.50 per barrel.



The gold spot index was down by 0.51% to $2,883.52 per ounce. The Dollar Index was up 0.01% at 107.977 level.



Asian markets advanced on Wednesday except for India's S&amp;P BSE Sensex index. Australia's ASX 200, South Korea's Kospi, Japan's Nikkei 225, China's CSI 300, and Hong Kong's Hang Seng index advanced. European markets were also higher in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43649613/mark-zuckerbergs-meta-platforms-sees-meteoric-surge-over-17-amid-historic-18-day-winning-streak-heres-what-technical-analysis-indicate-amid-overbought-conditions">Meta Stock Surges 17.47% In 17 Days, Marking One Of Its Longest Winning Streaks—Analysts Say There&#8217;s Still Room For Double-Digit Growth For Mark Zuckerberg&#8217;s Company</a></li>
</ul>



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Market Summary

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Pre-Market Outlook

Analyst Ratings

BIIB

CSCO

DASH

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TSLA

US Stocks Set For A Cautious Start Ahead Of Inflation Data: Expert Says 'Strong Bull Markets Tend To Roar Back To Life After Corrections'

<a target="_blank" href="https://www.benzinga.com/topic/softbank" rel="noreferrer noopener">Japanese investment holding company</a> SoftBank Group Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) reported third-quarter net sales of 1.83 trillion yen ($12.11 billion), up from 1.77 trillion yen a year ago. SoftBank segment net sales grew 5.2% to 1.66 trillion yen ($10.96 billion). Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) net sales grew 22.9% to 148.7 billion yen ($0.98 billion).



Loss before tax for the company was 190.2 billion yen.



Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/43458397/sam-altman-in-korea-openai-seeks-ai-deals-with-samsung-sk-hynix-and-softbank-amid-global-ai-boom" rel="noreferrer noopener">Sam Altman in Korea: OpenAI Seeks AI Deals With Samsung, SK Hynix, and SoftBank Amid Global AI Boom</a>



The net loss was 369.1 billion yen (or $2.44 billion loss) compared to a profit of 950 million yen a year ago. Loss on investments was 481 billion yen (or $3.18 billion loss).



Vision Fund investments reported a 352.75 billion yen loss (or $2.33 billion loss), compared to a profit of 600.73 billion yen a year ago. The segment reported a 309.93 billion yen loss (or $2.05 billion loss) versus a profit of 422.74 billion yen.



SoftBank reported a segment income of 224.1 billion yen (or $1.48 billion) versus 196.3 billion yen a year ago. Arm&#8217;s segment income is 13.4 billion yen (or $0.09 billion) compared to a loss of 8 billion yen a year ago.



In January, the Trump Administration announced an&nbsp;AI infrastructure joint venture&nbsp;in the U.S. dubbed &#8220;Stargate,&#8221; comprising &nbsp;OpenAI,&nbsp;SoftBank Group,&nbsp;Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), and Abu Dhabi&#8217;s&nbsp;MGX. The venture will deploy $100 billion initially and up to <a target="_blank" href="https://www.benzinga.com/25/01/43139410/softbanks-role-in-500-billion-stargate-ai-venture-seen-as-major-growth-driver-analyst-says" rel="noreferrer noopener">$500 billion over</a> the next four years.



Masayoshi Son of SoftBank and President Donald Trump announced in December plans for SoftBank to invest in the U.S. over the next four years while creating 100,000 jobs focused on &#8220;AI and related infrastructure.&#8221;



SoftBank offloaded its entire stake in Alibaba Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) in 2024 to <a href="https://www.benzinga.com/markets/equities/24/05/38791106/softbank-group-offloads-entire-alibaba-stake-after-jack-ma-founded-company-causes-6-16b-loss" target="_blank" rel="noreferrer noopener">focus on AI investments</a>.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/25/02/43637871/alibaba-clouds-growth-accelerates-with-ai-analyst-weighs-deepseeks-rising-competition" target="_blank" rel="noreferrer noopener">Alibaba Cloud&#8217;s Growth Accelerates With AI, Analyst Weighs DeepSeek&#8217;s Rising Competition</a></li>
</ul>



Photo by NP27 on Shutterstock.

BABA

ORCL

SFTBF

SFTBY

SoftBank Q3 Earnings: Revenue Rises, Vision Fund Takes $2.33 Billion Hit As Investments Falter

Shares of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) have skyrocketed by 17.47% over the last 17 days, reregistering one of the longest winning streaks for the company led by Mark Zuckerberg, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days-1024x576.png" alt="" class="wp-image-777978" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025719/Meta-Over-Last-18-Days.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



What Happened: The stock trades at $719.80 apiece as of Tuesday&#8217;s close, which is about 0.7% shy of its 52-week high of $725.01 per share.



Despite the constant surge in the stock, Meta&#8217;s over-optimistic momentum indicators hint at a likely pullback.



The company&#8217;s simple daily moving averages hinted at a bullish uptrend, owing to strength in the stock, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The share price was much above its 200-day simple moving average of $548.26, and 50-day average of $630.51. It is also higher than its eight-day average of $707.43 and the 20-day average of $665.82.



The momentum indicators were also very strong. The relative strength index of 80.70, coupled with a positive MACD (moving average convergence/divergence) indicator of 28.44 showed that the stock was overbought. These strong upward trends suggest that the stock could be nearing exhaustion, signaling a potential short-term pullback or consolidation phase.



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart-1024x576.png" alt="" class="wp-image-777987" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025743/Meta-tech-Chart.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



See Also: <a href="https://www.benzinga.com/general/market-summary/25/02/43491799/meta-ai-models-clearly-behind-deepseek-says-analysts-after-mark-zuckerberg-admitted-deepseek-did-some-novel-things-were-still-digesting">Meta AI Models &#8216;Clearly Behind&#8217; DeepSeek, Says Analyst After Mark Zuckerberg Admits DeepSeek Did Some Novel Things &#8216;We&#8217;re Still Digesting&#8217;</a>



Why It Matters: Despite the recent stock surge, Meta faces <a href="https://www.benzinga.com/general/market-summary/25/02/43491799/meta-ai-models-clearly-behind-deepseek-says-analysts-after-mark-zuckerberg-admitted-deepseek-did-some-novel-things-were-still-digesting">headwinds</a> in the AI race, according to Piper Sandler. Their research note dated Feb. 4, positioned DeepSeek&#8217;s AI model ahead of Meta's latest Llama model.



However, Wedbush analyst Dan Ives <a href="https://www.benzinga.com/25/02/43646615/top-analyst-says-metas-ai-push-could-add-100-per-share-while-tesla-faces-ev-headwindswhy-hes-still-bullish-on-musks-robotics-vision">remains bullish</a>, he recently highlighted Meta&#8217;s AI monetization strategy on CNBC.



&#8220;It&#8217;s about monetizing those three and a half billion DAUs,&#8221; he said, adding that AI innovations &#8220;could be an incremental $100 per share&#8221; for Meta as the company ramps up its efforts.



<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">We believe Meta is in a very strong position to further monetize AI over the coming years as Zuck drives the vision and puts massive cap-ex behind this AI initiative in 2025 <a href="https://twitter.com/CNBCWEX?ref_src=twsrc%5Etfw">@CNBCWEX</a> <a href="https://twitter.com/FrankCNBC?ref_src=twsrc%5Etfw">@FrankCNBC</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4fa;&#x1f447; <a href="https://twitter.com/CNBC?ref_src=twsrc%5Etfw">@CNBC</a> <a href="https://t.co/DmU2qc3ag8">https://t.co/DmU2qc3ag8</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1889294401362387207?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Price Action: Meta rose by 0.33% on Tuesday and advanced further by 0.01% in after-hours, whereas the exchange-traded fun tracking Nasdaq 100 index, Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.24%.



Meta shares have gained 20.12% on a year-to-date basis, whereas it was up by 53.51% over the last year.



The average price target among 43 <a href="https://www.benzinga.com/quote/META/analyst-ratings">analysts tracked by Benzinga</a> is $731.76 with a ‘buy' rating. The estimates range from $575 to $935 apiece. Recent ratings from Tigress Financial, UBS, and Citigroup suggest a $833.67 target, implying a potential upside of 15.81%.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/META/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="381" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025539/Meta-ANR-FIn-1024x381.png" alt="" class="wp-image-777974" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025539/Meta-ANR-FIn-1024x381.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025539/Meta-ANR-FIn-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025539/Meta-ANR-FIn-768x285.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/12025539/Meta-ANR-FIn.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read Next:



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<li><a href="https://www.benzinga.com/25/02/43647586/coca-cola-won-overall-share-from-pepsi-maaza-crosses-1-billion-milestone-analyst-says-never-seen-fundamentals-this-good-amid-strong-2025-outlook">Coca-Cola &#8216;Won Overall Share&#8217; From Pepsi: Analyst Says &#8216;Never Seen Fundamentals This Good,&#8217; Amid Strong 2025 Outlook </a></li>
</ul>



Image via Shutterstock

Analyst Color

Technicals

Meta Stock Surges 17.47% In 17 Days, Marking One Of Its Longest Winning Streaks—Analysts Say There's Still Room For Double-Digit Growth For Mark Zuckerberg's Company

Wedbush Securities analyst Dan Ives predicts Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) could emerge as a dominant force in the artificial intelligence software landscape, comparing it to industry giants Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).



What Happened: In a CNBC interview <a href="https://www.youtube.com/watch?v=IjS1KOIuy_0">on</a> Tuesday, Ives highlighted the multiplier effect of AI infrastructure spending, noting that &#8220;for every dollar spent on Nvidia chip, there&#8217;s an 8 to $10 multiplier across tech, across the ecosystem software.&#8221; He emphasized that this trend is particularly evident in companies like Palantir and Salesforce.



The analyst&#8217;s bullish stance on Palantir comes amid the company&#8217;s remarkable stock performance, with shares up nearly 350% over the past year. The AI software firm recently reported strong fourth-quarter results, with revenue reaching $827.52 million, exceeding analyst expectations of $775.91 million.



Ives pointed to Jevons Paradox &#8211; an economic theory suggesting increased efficiency leads to higher demand &#8211; as a key driver of AI software adoption. &#8220;This is the software age that&#8217;s now starting to take place,&#8221; Ives stated, predicting &#8220;a massive spending wave in 2025.



See Also: <a href="https://www.benzinga.com/news/earnings/25/02/43641962/lyft-q4-earnings-revenue-beat-gross-bookings-up-15-new-buyback-our-biggest-competition-is-inertia">Lyft Q4 Earnings: Revenue Beat, Gross Bookings Up 15%, New Buyback — &#8216;Our Biggest Competition Is Inertia&#8217;</a>



Why It Matters: The optimistic outlook aligns with Palantir CEO Alex Karp&#8216;s <a href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-this-is-a-new-phase-unlike-anything-that-has-come-before">recent shareholder letter</a>, where he described the current period as &#8220;the beginning of the first act of a revolution.&#8221; The company&#8217;s growth is particularly strong in U.S. operations, with commercial revenue up 64% year-over-year to $214 million.



Despite Palantir&#8217;s high valuation metrics, including a price-to-earnings ratio of 613.95 and market capitalization of $258 billion, former hedge fund manager Martin Shkreli projects the company&#8217;s cash flow from operations to reach $1.8 billion in 2025 and $2.7 billion by 2026, suggesting potential <a href="https://www.benzinga.com/markets/equities/25/02/43485885/pharma-bro-martin-shkreli-defends-palantirs-valuation-amid-24-surge-says-ai-firms-cash-flow-justifies-expensive-price">justification for the premium valuation</a>.



The stock&#8217;s <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">consensus price target</a> stands at $65.50, based on 23 analyst ratings. The highest target is $125, while the lowest is $7.50. The most recent ratings from Citigroup, RBC Capital, and UBS suggest an average price target of $85, implying a 24.95% downside from current levels. 



<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11210050/Screenshot-2025-02-12-at-7.30.01%E2%80%AFAM-1024x374.png" alt="" class="wp-image-777566" style="width:686px;height:auto"/></figure>



Price Action: Palantir stock has surged 340% in 2024, trading within a 52-week range of $20.33 to $116.76. It closed at $112.62 on Tuesday, down 3.45%, with a slight 0.56% after-hours recovery, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/02/43641265/upstart-q4">Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance</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.

PLTR

Dan Ives Says Palantir Could Be Next Oracle Or Salesforce As AI Boom Drives Massive Software Spending, Highlights 8-10x Multiplier Effect

Building a mine is a notoriously difficult endeavor. It is a long, often <a target="_blank" href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia" rel="noreferrer noopener">multi-decade process</a> involving prospecting, soil sampling, environmental studies, and billions of dollars worth of capital expenditures before production starts. For companies involved, it is a generational commitment that sometimes sees staff spend their entire careers on a single project.



Thus, when a large mine with significant reserves shuts down while still in full production, the consequences are twofold: the firm loses revenue, but the industry loses valuable supply, driving prices up and sometimes spilling over into higher costs of numerous associated products.



As gold climbs toward its historic milestone of $3,000 per ounce, such a situation is notable in Mali, where one of Barrick Gold's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) largest gold mines, the Lolo-Gounkoto complex, has been shut down amid <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43588936/malian-gold-output-falls-23-as-new-mining-law-pressures-producers" rel="noreferrer noopener">disputes with the government</a>.



The latest round of talks with the military-led government has collapsed, with the junta seeking a $197 million settlement, while Barrick sought a phased payment plan. The mine, which produced almost 700,000 ounces in 2023, accounts for 15% of the firm's output.



Meanwhile, the final hearing for the Cobre Panama mine has been moved to 2026. The mine's operator, First Quantum (OTCPK: FQVLF), <a target="_blank" href="https://s24.q4cdn.com/821689673/files/doc_financials/2024/q4/Q4-2024-FQM-News-Release-FINAL.pdf" rel="noreferrer noopener">reported</a> the news, stating that the government of Panama sought an extension after replacing its legal counsel.



The mine, <a target="_blank" href="https://www.benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance" rel="noreferrer noopener">shuttered in November 2023</a> after Panama's Supreme Court declared its contract unconstitutional, is one of the largest copper mines, producing 350,000 tons in 2022. Its output accounted for 5% of Panama's GDP.



First Quantum also suffered in Australia, where broader market conditions forced it to close its <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/04/38500350/first-quantum-minerals-closes-ravensthorpe-nickel-mine-cuts-330-jobs" rel="noreferrer noopener">Ravensthorpe nickel mine</a>. The rise of low-cost, Chinese-backed nickel production in Indonesia has flooded global markets, driving prices down from over 30,000 per ton in early 2023 to around 15,000.



This price collapse has rendered many Australian nickel operations unprofitable, leading to widespread job losses and mine closures.



Even BHP, one of the world's largest miners, <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/07/39749321/bhp-halts-nickel-mine-were-not-able-to-overcome-economic-challenges-driven-by-oversupply" rel="noreferrer noopener">suspended its nickel operations</a> in Western Australia, cutting around 3,000 jobs. Meanwhile, Glencore's Murrin Murrin mine, the largest remaining nickel operation and the nation's biggest source of cobalt is teetering on the edge of profitability.



"Murrin Murrin is a terrific operation, and credit to our workforce. However, current market conditions are very challenging," CEO Gary Nagle<a target="_blank" href="https://thewest.com.au/business/mining/very-concerned-glencore-keeping-the-lights-on-at-murrin-murrin-mine-amid-wa-nickel-darkness-c-13615620" rel="noreferrer noopener"> said</a> for The West Australian, clarifying that the firm may not continue subsidizing the mine if market conditions do not improve.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/global/25/02/43618203/gold-nears-3000-but-miners-struggle-as-rising-costs-squeeze-profits" target="_blank" rel="noreferrer noopener">Gold Nears $3,000 But Miners Struggle As Rising Costs Squeeze Profits</a></li>
</ul>



Photo by Yuri A via Shutterstock

Legal

Media

FQVLF

GOLD

Geopolitics And Resource Nationalism Are Choking The Commodity Supply

Leading cryptocurrencies dipped on Tuesday even as Federal Reserve Chair Jerome Powell made remarks seen as favorable for the industry during a Senate hearing.&nbsp;



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-1.92%</td><td>$96,012.26</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>-3.34%</td><td>$2,607.85</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;</td><td>-1.87%</td><td>$0.2531</td></tr></tbody></table></figure>



What Happened: Bitcoin started to slide in the morning hours and hit an intraday low of $94,875.04 before recovering to $96,000 late evening.



Ethereum fell back to the $2,600 zone a day after breaching $2,700. The two leading assets were down 2.61% and 5.19%, respectively, over the week.



In a significant development, Fed Chair Powell assured to "take a fresh look" at debanking, which the cryptocurrency industry had <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43477333/crypto-czar-sacks-says-potential-bitcoin-reserve-to-be-one-of-crypto-committees-first-priorities">complained</a> about during the previous administration.



Powell also stated that the Fed won't develop a central bank digital currency under his watch during his testimony before the Senate Banking Committee.



Meanwhile, cryptocurrency liquidations reached $228 million over the last 24 hours, with long liquidations accounting for $154 million.



Bitcoin's Open Interest rose by 1.49% in the last 24 hours. A rise in Open Interest, coming alongside a price drop, indicated the opening of new short positions.



That said, the number of traders betting on Bitcoin's price increase was still higher than targeting price declines, according to the Long/Short ratio.



Market sentiment returned to the "Fear" zone, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Virtuals Protocol (VIRTUALS)</td><td>+6.57%</td><td>$1.32</td></tr><tr><td>Cardano (ADA)</td><td>+5.60%</td><td>$0.7785</td></tr><tr><td>Bittensor (TAO)</td><td>+3.90%</td><td>$410.60</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.15 trillion, declining by 1.68% in the last 24 hours.



Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average rose 123.24 points, or 0.28%, to close at 44,593.65. The S&amp;P 500 eked out a narrow gain of 0.03%, ending at 6,068.50. The tech-heavy Nasdaq Composite, on the other hand, fell 0.36% to close at 19,643.86.



Investors parsed comments from Powell that the Fed <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43635364/us-stocks-dip-as-powell-stays-cautious-intel-climbs-tesla-sinks-to-11-week-low">was not in a hurry to lower interest rates</a>.



The focus now shifts to the crucial <a href="https://www.benzinga.com/25/02/43627524/economists-betting-markets-predict-benign-january-inflation-what-could-go-wrong-this-time">consumer price index report</a>, slated for release on Wednesday.&nbsp;



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



Analyst Notes: Popular cryptocurrency analyst and trader Ali Martinez noted Bitcoin's accumulation trend score was close to zero, indicating that the apex digital asset was undergoing consolidation.



"A shift in demand here could set the stage for the next big move," the analyst predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> accumulation trend score is near zero, signaling a period of consolidation. A shift in demand here could set the stage for the next big move! <a href="https://t.co/0nSIt1qKY8">pic.twitter.com/0nSIt1qKY8</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1889449586843902273?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely followed analyst, Rekt Capital, stated that Bitcoin needs a daily close above $97,700 or reclaim the level as support to justify a bullish move toward $101,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin continues to enjoy price stability at the blue diagonal trendline support which is a positive However, BTC needs a Daily Close above ~$97700 (light blue) and/or reclaim said level as support to build on its momentum towards $101k (black)<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/LdmHPHoyuv">https://t.co/LdmHPHoyuv</a> <a href="https://t.co/zU7GvOudp3">pic.twitter.com/zU7GvOudp3</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1889287102384185538?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43636904/anthony-scaramucci-warns-meme-coins-create-market-contagion-fuel-bitcoin-skepticism">Anthony Scaramucci Warns Meme Coins Create Market Contagion, Fuel Bitcoin Skepticism</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Dip Even As Fed Chair Powell Says No To CBDC: Analyst Says BTC Under Consolidation But 'Next Big Move' Likely

On Tuesday, Cathie Wood-led Ark Invest executed several significant trades, including the sale of shares in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>). Ark purchased shares of Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).



The Palantir Trade saw Ark Invest selling 252,261 shares of Palantir through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This sale is valued at approximately $28.4 million based on the latest closing price of $112.62.



The company&#8217;s strong fourth-quarter earnings report revealed revenue of $827.52 million, surpassing analyst expectations. Adjusted earnings per share also exceeded forecasts, contributing to the stock&#8217;s upward momentum. 



Earlier on Monday, Ark sold <a href="https://www.benzinga.com/25/02/43613535/cathie-wood-dumps-16-million-worth-of-palantir-stock-after-record-highs">almost $16 million </a>worth of Palantir shares after the stock hit record highs.



The Robinhood Trade involved Ark&#8217;s sale of 79,267 Robinhood shares via ARKW, as the company prepares for its fourth-quarter earnings report. Analysts anticipate a <a href="https://in.benzinga.com/25/02/43641644/robinhood-q4-earnings-preview-can-company-rebound-from-q3-miss-key-items-to-watch">significant revenue increase</a> compared to the previous year. Ark&#8217;s engagement with Robinhood suggests an optimistic outlook on the company&#8217;s potential rebound. 



The Shopify Trade involved Ark Invest&#8217;s purchase of 24,442 shares in Shopify through ARKW following the company&#8217;s robust fourth-quarter earnings. The trade was valued at $3.92 million, based on the stock&#8217;s closing price of $123.59 on Tuesday. 



Shopify reported a 31% year-over-year <a href="https://in.benzinga.com/news/earnings/25/02/43622684/shopify-q4-earnings-31-revenue-surge-free-cash-flow-growth-gmv-hits-94-5-billion">revenue increase</a> in the fourth quarter, reaching $2.81 billion, which exceeded analyst expectations. This marked the seventh consecutive quarter of over 25% revenue growth. 



The AMD Trade saw Ark Invest engaging with AMD, despite recent challenges. AMD&#8217;s shares experienced a decline after the company guided a 7% drop in first-quarter data center revenue. The fourth-quarter earnings report revealed <a href="https://in.benzinga.com/news/earnings/25/02/43502339/amd-shares-drop-after-ceo-guides-q1-data-center-revenue-down-7">data center revenues below expectations</a>, impacting investor sentiment. 



Ark bought 11,711 AMD shares via ARKW. The transaction was valued at $1.3 million. AMD shares ended Tuesday at $111.10.



The TSMC Trade saw Ark picking up 4,417 shares of the chipmaker through ARKW amid plans for a <a href="https://www.benzinga.com/government/regulations/25/02/43432143/taiwan-semiconductor-plans-massive-1nm-fab-25-in-taiwan-boosting-advanced-chipmaking-capacity">new 1nm fabrication facility</a> in Taiwan. The trade was valued at $922,004. For the day TSMC shares closed at $208.74.This expansion aims to boost advanced chipmaking capacity, positioning TSM for future growth. The strategic move aligns with global demand for semiconductor advancements. 



The Amazon Trade involved ARKF fund acquiring 19,726 shares of Amazon. With Amazon&#8217;s stock closing at $232.76, this purchase translates to an investment of approximately $4.59 million. This move aligns with recent analyst predictions, including those from <a href="https://www.benzinga.com/25/02/43472744/amazon-poised-for-strong-q4-with-aws-growth-and-north-america-retail-margin-expansion-says-bofa">BofA Securities</a>, which foresee Amazon&#8217;s strong performance in the fourth quarter, driven by AWS growth and improved retail margins in North America. The analyst maintained a Buy rating with a target price of $255, reflecting confidence in Amazon&#8217;s future potential.



Other Key Trades:



<ul>
<li>Sold 660,520 shares of Accolade Inc through ARKG.</li>



<li>Bought 44,653 shares of Illumina Inc through ARKK and 7,780 shares through ARKG.</li>



<li>Sold 517,713 shares of UiPath Inc through ARKK, 218,747 shares through ARKW and 41,189 shares through ARKW.</li>



<li>Bought 77,582 shares of PagerDuty Inc through ARKK and 22,632 through ARKW.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/startups/25/02/43644403/elon-musk-you-cant-stop-the-advent-of-electric-cars-says-ev-success-is-as-inevitable-as-cars-replacing-horses">Elon Musk: &#8216;You Can&#8217;t Stop The Advent Of Electric Cars&#8217;—Says EV Success Is As Inevitable As Cars Replacing Horses</a></li>
</ul>



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

AMZN

ARKF

ARKK

ARKW

SHOP

Cathie Wood's Massive Tuesday Overhaul: Unloads $28.4M In Palantir, Dumps Robinhood, Swoops Up Tech Giants Shopify, AMD, TSMC And Amazon

"We helped 44 million people across the U.S. and Canada get off their tuchuses," said Lyft CEO David Risher.Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) reported fourth-quarter financial results after the market close on Tuesday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/02/b43640050/lyft-reports-record-q4-and-full-year-2024-results">of the report</a>.



Q4 Earnings: Lyft reported fourth-quarter revenue of $1.6 billion, beating analyst estimates of $1.56 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company reported fourth-quarter net income of $61.7 million, versus a loss of $26.3 million in the prior year&#8217;s quarter. Adjusted EBITDA totaled $112.8 million in the quarter.



Total revenue was up 27% on a year-over-year basis. Gross bookings totaled $4.3 billion in the quarter, up 15% year-over-year. Active riders totaled 24.7 million in the fourth quarter, up 10% year-over-year. Total rides came in above 219 million, up 15% year-over-year.



See Also: <a href="https://www.benzinga.com/25/02/43641265/upstart-q4">Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance</a>



Lyft&#8217;s board authorized a share repurchase program of up to $500 million of the company&#8217;s common stock. The company ended the quarter with $759.32 million in cash and cash equivalents.



&#8220;2024 was a record-smashing year for Lyft. Thanks to our industry-leading service levels, we helped 44 million people across the U.S. and Canada get off their tuchuses,&#8221; said David Risher, CEO of Lyft. 



&#8220;But we&#8217;ve got more to do. Our biggest competition is inertia. 2025 will be the year we show millions of riders and drivers: You&#8217;ve now got a better rideshare choice.&#8221;



Outlook: Lyft expects first-quarter gross bookings of approximately $4.05 billion to $4.2 billion, representing growth of 10% to 14% year-over-year. The company sees first-quarter rides growth in the mid-teens year-over-year.



Lyft executives will further discuss the company&#8217;s quarterly performance on a conference call set for 5 p.m. ET.



Price Action: <a href="http://benzinga.com/quote/lyft">Lyft shares</a> were down 9.31% after hours, trading at $13.01 at the time of publication Tuesday, per <a href="http://pro.benzinga.com">Benzinga Pro.</a>



See Also: 



<ul>
<li><a href="https://www.benzinga.com/tech/25/02/43619522/former-exec-sees-tesla-taking-over-uber-in-ride-hail-with-robotaxis-but-this-fund-manager-believes-elon-musks-ev-giant-wont-have-a-network-as-large">Former Exec Sees Tesla Taking Over Uber In Ride Hail With Robotaxis, But This Fund Manager Believes Elon Musk&#8217;s EV Giant Won&#8217;t Have A Network As Large</a></li>
</ul>



Photo: Shutterstock.

LYFT

Lyft Q4 Earnings: Revenue Beat, Gross Bookings Up 15%, New Buyback — 'Our Biggest Competition Is Inertia'

Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the key<a href="https://www.benzinga.com/pressreleases/25/02/b43640060/upstart-announces-fourth-quarter-and-full-year-2024-results"> figures from the report.&nbsp;</a>



The Details:&nbsp;Upstart reported quarterly earnings of&nbsp;26&nbsp;cents per share which beat the analyst consensus estimate of&nbsp;losses of 4 cents. Quarterly revenue clocked in at $218.96 million&nbsp;which beat the analyst consensus estimate of&nbsp;$182.18 million&nbsp;and is an increase over sales of&nbsp;$140.31 million&nbsp;from the same period last year.



245,663 loans were originated, totaling $2.1 billion, up 68% year-over-year and up 33% from the prior quarter. Conversion rate was 19.3%, up from 11.6% in the fourth quarter of 2023. 



Read Next: <a href="https://www.benzinga.com/25/02/43474797/amazon-faces-trumps-tariffs">Amazon &#8216;Relatively Well-Positioned&#8217; To Face Trump&#8217;s Tariffs: Analyst</a>&nbsp;



&#8220;In Q4 of 2024, our business grew dramatically across all product categories, delivered Adjusted EBITDA at levels not seen since the first quarter of 2022, and came within a whisker of returning to GAAP profitability,&#8221; said Dave Girouard, CEO of Upstart. 



&#8220;We launched into 2025 with unparalleled energy and optimism for the future of Upstart AI lending and the mission we&#8217;re on together,&#8221; Girouard added. 



Outlook: Upstart expects first-quarter revenue of approximately $200 million, versus the $193.8 million estimate. 



UPST Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Upstart Holdings shares are up 20.4% after hours at $81.07 Tuesday.  



Read Next:



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<li><a href="https://www.benzinga.com/general/social-media/25/02/43535256/palantir-adds-elon-musks-ai-chatbot-grok-to-aip">Palantir Adds Elon Musk&#8217;s AI Chatbot Grok To AIP</a></li>
</ul>



Image: Shutterstock

Fintech

UPST

Upstart Shares Soar After Solid Q4 Report, Strong Q1 Guidance

President Donald Trump, while hosting a White House meeting with Jordan&#8217;s King Abdullah at the White House Tuesday, reiterated his threat that the U.S. will take control of the Gaza Strip and move the nearly two million Palestinians living there to either Jordan <a href="https://www.benzinga.com/topic/gaza">or Egypt or somewhere</a>.



Asked whether the U.S. would cut billions in financial aid to the two countries if they refused to accept the transfer of Palestinians, Trump sounded confident that Jordan and Egypt would carry out his wishes.



"I don't have to threaten that. I do believe we're above that," Trump said, contradicting his previous suggestion that holding back aid was a possibility.



<h2 class="wp-block-heading">How Will The US Attain Gaza?</h2>



Trump said the US could come to control Gaza without committing any money. 



&#8220;We are not going to buy Gaza&#8230;we are going to take it and cherish it,&#8221; Trump said. &#8221; It will bring peace to the Middle East. It is going to be a tremendous thing and put a lot of people to work.&#8221; 



Speaking in broad strokes, Trump insisted that there has been overwhelming support for his plan to turn Gaza into a resort, though in fact most world leaders <a href="https://www.benzinga.com/news/25/02/43503385/trumps-gaza-plan-for-seaside-resort-faces-global-pushback">criticized his plan</a> when it was first announced.



Trump suggested that the redeveloped area could have new hotels, office buildings and houses and "and we'll make it exciting." 



Trump then waxed on about what a successful real estate magnate he is. "I can tell you about real estate. They're going to be in love with it," he said.



<h2 class="wp-block-heading">King Abdullah, What Say You? </h2>



When pressed by reporters specifically as to whether he agreed to the transfer of Palestinians from Gaza, King Adbullah said that more talks will be held soon with Egypt to discuss the issue. Egypt has also condemned Trump&#8217;s plan. 



The King said that Jordan would need to take into consideration how it could or would be able to take Palestinians into his country. The kingdom already shelters 700,000 Syrian refugees and lacks the oil wealth of its neighbors, making continued U.S. aid crucial. Jordan receives nearly $2 billion in foreign aid to Jordan, which contributes at least 42% to the country&#8217;s total economy



&#8220;This is something that we as Arabs will discuss later and talk about the options,&#8221; King Abdullah said. 



Two Palestinians from Michigan told Benzinga that they thought the King played his cards close to his chest and that deferring to upcoming talks with Egypt &#8220;was a good idea. He [Trump] already walked back the threat of cutting aid to both Egypt and Jordan.&#8221;



Analysts from various outlets agreed that King Abdullah held back in the short press briefing during which Trump did most of the talking. Though ahead of Tuesday's meeting, King Abdullah had reaffirmed his commitment to a two-state solution and the need for a "just and comprehensive peace" in the region. 



In terms of Israel&#8217;s plan to annex the mostly Palestinian West Bank, Trump said, &#8220;That&#8217;s going to work out.&#8221;



Abdullah also announced that Jordan was intending to bring to Jordan 2,000 Palestinian children from Gaza in need of cancer treatment, which Trump said was a beautiful thing.



<h3 class="wp-block-heading">ETFs To Watch</h3>



According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, oil ETFs were in the green at last check Tuesday:



<ul>
<li>ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) is up by 2.65%</li>



<li>United States Oil Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) is up by 1.25%</li>



<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is up by 0.9%</li>



<li>MicroSectorsTM Oil &amp; Gas Exploration &amp; Production 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILU#NYSE">OILU</a>) saw a 2.94% uptick</li>
</ul>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/markets/25/02/43621302/justin-trudeau-slams-unacceptable-us-tariffs-after-trump-imposes-25-levy-on-metal-imports-canadians-will-stand-up-strongly-and-firmly-if-we-need-to">Justin Trudeau Slams &#8216;Unacceptable&#8217; US Tariffs After Trump Imposes 25% Levy On Metal Imports : &#8216;Canadians Will Stand Up Strongly And Firmly If We Need To&#8217;</a></li>
</ul>



Palestinian refugees in Gaza: Shutterstock

Politics

OILU

Trump Says We Will 'Take Gaza' And 'Cherish It' In White House Meeting With Jordan's King Abdullah

Trading in Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) <a href="https://www.benzinga.com/news/offerings/25/02/43593686/whats-going-on-with-snap-stock-monday-2">is quiet Tuesday</a>. The shares have been holding above-important support around $10.40. But there is a good chance the support breaks and the price falls.



The company&#8217;s stock chart shows some characteristics of a classic ‘Head &amp; Shoulders Pattern'. This is why our team of technical analysts has made Snap our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.



Many analysts don't understand the fundamentals and basics of technical analysis. They try to identify patterns on charts without understanding the price action that causes them to form.



It's rare to see a precise or ‘textbook' pattern on a chart. But that isn't important. What is, is that an analyst understands price action and psychology that is occurring.



A Head and Shoulders is a ‘reversal pattern'. This means at has to occur and the end of an uptrend. It shows the bears are taking the leadership from the bulls.



Read Also: <a href="https://www.benzinga.com/news/earnings/25/02/43623639/coca-cola-pops-in-q4-revenue-soars-6-ceo-hails-all-weather-strategy">Coca-Cola Pops In Q4—Revenue Soars 6%, CEO Hails &#8216;All-Weather Strategy&#8217;</a>



One thing that happens when the bears are taking over is that ‘lower highs' form. Markets don't go in straight lines. They go in peaks and valleys. When a peak forms at a lower price level than the previous peak did, traders say it is a lower high.



This means that as time passes, sellers are willing to come into the market at lower levels. This is why the ‘right shoulder' forms at a lower price than the ‘head' does in a Head &amp; Shoulders.



As you can see on the chart below, Snap&#8217;s last two peaks occurred at lower levels than the peak that would be considered the Head did in December. This shows that since then, people who want to sell are getting anxious and are willing to accept less for their shares.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="552" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-1024x552.png" alt="" class="wp-image-777202" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-1024x552.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115-768x414.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/11140021/115.png 1522w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Now the stock is testing support around the $10.40 level. Because sellers have become increasingly aggressive while the buyers have been willing to be patient and hang out around the support level mean there is a good chance it breaks.



Aggressive sellers and patient buyers is typically bearish for a market.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43632327/steel-stocks-breakout-analyst-sees-bullish-setup-for-us-steel-nucor-steel-dynamics">Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel</a></li>
</ul>



Image: Shutterstock

SNAP

Stock Of The Day: Does Classic Head & Shoulders Pattern Mean Snap Goes Lower?

Five former treasury secretaries are taking aim at the Department of Government Efficiency and Elon Musk for alleged overreach and abuse of powers by the new <a href="https://www.benzinga.com/news/25/02/43617113/bill-gates-challenges-elon-musk-led-doge-approach-to-shutting-down-usaid-asks-if-it-fits-american-value-system">White House administration.</a>



What Happened: Musk has been <a href="https://www.benzinga.com/25/02/43452103/elon-musk-appointed-as-special-government-employee-amid-doge-department-push-cant-do-anything-without-our-approval-says-trump">put in charge of leading</a> the Department of Government Efficiency by President Donald Trump.



In the role, Musk has promised <a href="https://www.benzinga.com/news/25/02/43426165/elon-musks-daily-4-billion-doge-target-will-lead-to-30-cut-in-federal-spending-says-economist-jason-furman">to find billions</a> to trillions of dollars in savings for U.S. taxpayers. The billionaire has been granted access to many parts of the government, leading to pressure from the public and some members of Congress on alleged overreach.



Five former treasury secretaries believe Musk's actions could bring harm to the country's payments system.



Here are the five former treasury secretaries who co-authored a new<a href="https://www.nytimes.com/2025/02/10/opinion/treasure-secretaries-doge-musk.html"> op-ed</a> in the New York Times and their years of service in the role:



<ul>
<li>Robert Rubin: 1995 to 1999 (Bill Clinton)</li>



<li>Lawrence Summers: 1999 to 2001 (Bill Clinton)</li>



<li>Timothy Geithner: 2009 to 2013 (Barack Obama)</li>



<li>Jacob Lew: 2013 to 2017 (Barack Obama)</li>



<li>Janet Yellen: 2021 to 2025 (Joe Biden)</li>
</ul>



"Our roles were multifaceted. We sought to develop sound policy to advance the president's agenda and represent the economic interests of the United States on the world stage. But in doing that, we recognized that our most fundamental responsibility was the faithful execution of the laws and Constitution of the United States," the former secretaries said.



The five said that they are "fortunate" that there were no unlawful attempts to "undermine the nation's financial commitments" during their time in office.



"Regrettably, recent reporting gives substantial cause for concern that such efforts are underway today."



The former treasury secretaries say the nation's payment system is operated by a small group of nonpartisan civil servants, a position that they allege has been compromised by the political actors of the "so-called Department of Government Efficiency."



The op-ed alleges that the political actors have not gone through the same ethics rules as civil servants and have potential financial conflicts of interest in their roles.



"They lack training and experience to handle private, personal data – like Social Security numbers and bank account information. Their power subjects America's payments system and the highly sensitive data within it to the risk of exposure, potentially to our adversaries."



The former treasury secretaries write that the legislative branch has the "sole authority" to pass laws concerning how and where federal dollars are spent. The Treasury Department is not supposed to make determinations about which promises it will keep of the laws passed by Congress. The op-ed cites quotes from Supreme Court justices who agreed with this logic previously.



The op-ed said the Supreme Court ruled unanimously that the president does not have the power to withhold federal funds that Congress authorized previously when a similar challenge was made by the Richard Nixon administration.



"We take the extraordinary step of writing this piece because we are alarmed about the risks of arbitrary and capricious political control of federal payments, which would be unlawful and corrosive to our democracy."



Among the federal funds that have been authorized by Congress include Social Security checks, Veterans benefit checks, Medicare reimbursements, Federal worker payments and payments for members of the military.



"People often rely on these funds for survival, making any risk of their cutoff or delay existential."



Check This Out:



<ul>
<li><a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent021125">Lawmakers Are Making Huge Investments In 2025. See What They&#8217;re Buying And Selling With Our Easy-to-Use Tool</a></li>
</ul>



Why It's Important: The op-ed stated that current Treasury Secretary Scott Bessent confirmed no federal payment blocks have occurred yet.



"We hope this commitment stands. It is how the framers intended it when they designed a government with checks and balances that gave the executive branch a host of powers, but provided for elected members of Congress, and Congress alone, the authority to levy taxes and spend federal funds," the former treasury secretaries wrote.



In a <a href="https://x.com/LHSummers/status/1888923226585113038">tweet</a>, Summers said the guest essay was made due to being alarmed about the risk of political control of federal payments. The tweet prompted a response from Musk.



"Listen Larry, we need to stop government spending like a drunken sailor on fraud &amp; waste or America is gonna go bankrupt. That does mean a lot of grifters will lose their grift and complain loudly about it. Too bad. Deal with it," Musk <a href="https://x.com/elonmusk/status/1888998928781025534">tweeted</a>.



Summers <a href="https://x.com/LHSummers/status/1889022586366943313">acknowledged </a>that Musk is right to be focused on stopping fraud and grift, but said he hopes the Treasury Department and DOGE comply with the law and offered to work with the billionaire.



On Tuesday morning, Trump posted a message on his Truth Social platform saying billions of dollars of fraud, waste and abuse have already been found while investigating the "incompetently run Government."



"Now certain activists and highly political judges want us to slow down, or stop. Losing this momentum will be very detrimental to finding the TRUTH, which is turning out to be a disaster for those involved in running our Government. Much left to find." Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113985325416343873">said</a>.



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Musk's DOGE Is Attack On Democracy: Yellen, Rubin, 3 More Ex-Treasury Chiefs

U.S. stocks edged marginally lower on Tuesday after Federal Reserve Chair Jerome Powell reiterated that the central bank is in no hurry to cut interest rates during his testimony before the Senate Banking Committee, offering little <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43628752/feds-powell-reiterates-no-hurry-to-cut-interest-rates-as-inflation-remains-somewhat-elevated">support for risk assets.</a>



Investors remained on edge ahead of Wednesday's key inflation report, with the Bureau of Labor Statistics set to release the January Consumer Price Index.



The S&amp;P 500 dipped 0.1%, the Nasdaq 100 declined 0.2%, and small-cap stocks underperformed. Bucking the trend, the Dow Jones Industrial Average posted a marginal 0.1% gain.



Company-wise, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) surged 7%, after Vice President J.D. Vance indicated that artificial intelligence chips will be manufactured in the U.S.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell by over 4%, reaching the lowest levels in eleven weeks, pressured by weak January auto sales in China.



Geopolitical tensions flared as the European Union threatened countermeasures in response to President Donald Trump's announcement of 25% tariffs on aluminum and steel.



Long-dated Treasury yields moved higher, with the 10-year yield rising to 4.54%. Yet, the broader dollar index – as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – weakened, down 0.2%. 



Gold paused for a breather, remaining flat at $2,900 per ounce. Oil prices inched up by 1%, eyeing the third straight session of gains. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakened 1.3% to $96,000. 



<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %chg</td></tr><tr><td>Dow Jones</td><td>44,526.92</td><td>0.1%</td></tr><tr><td>S&amp;P 500</td><td>6,064.30</td><td>-0.1%</td></tr><tr><td>Nasdaq 100</td><td>21,714.53</td><td>-0.3%</td></tr><tr><td>Russell 2000</td><td>2,273.29</td><td>-0.6%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;inched 0.1% down to $604.07.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was 0.1% up to $445.06.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;fell 0.3% to $527.55.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.7% to $225.34.</li>



<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.4%; the&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1.2%.</li>
</ul>



<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>



<ul>
<li>Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) rose 2.4% after KeyBanc raised the stock to Overweight.</li>



<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) surged 5% after Elliott Investment Management urged the company to sell or spin off its midstream business, estimating its value at over $40 billion.</li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) gained 2.8%, and Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 2% amid speculation about a potential AI partnership for iPhone users in China.</li>
</ul>



Stocks reacting to earnings reports include: 



<ul>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>): up 3.8%</li>



<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>): up 7.5%</li>



<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): up 3.7%</li>



<li>DuPont de Nemours Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>): up 7.8%</li>



<li>Marriott International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>): down 5.6%</li>



<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>): down 6.5%</li>



<li>Masco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>): up 0.6%</li>



<li>WK Kellogg Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>): down 0.7%</li>



<li>Arvinas Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>): down 6.3%</li>



<li>AutoNation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>): down 3.3%</li>



<li>Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>): down 4.7%</li>



<li>Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>): down 1.8%</li>



<li>Fidelity National Information Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>): down 14.9%</li>



<li>GlobalFoundries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>): up 6.2%</li>



<li>IPG Photonics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>): down 5.9%</li>



<li>LCI Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCII#NYSE">LCII</a>): up 3.5%</li>



<li>Leidos Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>): down 5.4%</li>



<li>MYT Netherlands Parent BV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NYSE">MYTE</a>): up 19.4%</li>



<li>NNN REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNN#NYSE">NNN</a>): up 5.8%</li>



<li>Royalty Pharma Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>): up 1.4%</li>



<li>Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>): down 1.8%</li>



<li>TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>): down 3.5%</li>



<li>USA Compression Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USAC#NYSE">USAC</a>): down 2.9%</li>



<li>Wesco International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCC#NYSE">WCC</a>): up 2.1%</li>
</ul>



Companies reporting after the close include:



<ul>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>



<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</li>



<li>Welltower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>)</li>



<li>Assurant Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>)</li>



<li>Primerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>)</li>



<li>Allison Transmission Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALSN#NYSE">ALSN</a>)</li>



<li>Edwards Lifesciences Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>



<li>Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>)</li>



<li>Brighthouse Financial Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHF#NASDAQ">BHF</a>)</li>



<li>DoorDash Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NYSE">DASH</a>)</li>



<li>W. P. Carey Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPC#NYSE">WPC</a>)</li>



<li>Agree Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>)</li>



<li>Red Rock Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>)</li>



<li>Teradata Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>)</li>
</ul>



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US Stocks Dip As Powell Stays Cautious, Intel Climbs, Tesla Sinks To 11-Week Low: What's Driving Markets Tuesday?

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