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Valmie Resources Inc is engaged in the commercialization of products and services in the technology industry. The company focuses on unmanned aerial vehicle software, hardware and cloud services for commercial applications.

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Valmie Resources Inc

G-III Apparel Group, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) will release its first-quarter financial results before the <a href="https://www.benzinga.com/quote/GIII/earnings">opening bell on Friday, June 6.</a>
Analysts expect the New York-based company to report quarterly earnings at 13 cents per share, up from 12 cents per share in the year-ago period. G-III Apparel projects quarterly revenue of $580.37 million, compared to $609.75 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 13, the company reported fourth-quarter sales growth of 9.8% year-on-year to $839.535 million, beating the analyst consensus estimate of $807.590 million.
G-III Apparel shares fell 2.6% to close at $27.67 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/GIII/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating with a price target of $30 on June 2, 2025. This analyst has an accuracy rate of 61%.</li>
<li>Guggenheim analyst Robert Drbul maintained a Buy rating and boosted the price target from $36 to $38 on Dec. 11, 2024. This analyst has an accuracy rate of 60%.</li>
</ul>
Considering buying GIII stock? Here&#8217;s what analysts think:
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Earnings

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Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

GIII

Top Wall Street Forecasters Revamp G-III Apparel Expectations Ahead Of Q1 Earnings

ABM Industries Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) will release its second-quarter financial results before the <a href="https://www.benzinga.com/25/03/44273475/abm-reports-solid-q1-growth-raises-fy25-guidance-amid-strong-aviation-and-technical-solutions-sale">opening bell on Friday, June 6.</a>
Analysts expect the New York-based company to report quarterly earnings at 86 cents per share, down from 87 cents per share in the year-ago period. ABM projects quarterly revenue of $2.06 billion, compared to $2.02 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 12, the company reported that its sales grew 2.2% year over year to $2.11 billion in the first quarter, beating the consensus of $2.09 billion.
ABM shares fell 2.1% to close at $51.26 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/ABM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>UBS analyst Joshua Chan maintained a Neutral rating and cut the price target from $56 to $50 on March 13, 2025. This analyst has an accuracy rate of 67%.</li>
<li>Truist Securities analyst Jasper Bibb maintained a Hold rating and boosted the price target from $49 to $55 on Sept. 9, 2024. This analyst has an accuracy rate of 78%.</li>
<li>Baird analyst Andrew Wittmann maintained a Neutral rating and raised the price target from $49 to $56 on Sept. 9, 2024. This analyst has an accuracy rate of 78%.</li>
</ul>
Considering buying ABM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/ABM/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="565" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06040845/image-83-1024x565.png" alt="" class="wp-image-940833" style="width:645px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06040845/image-83-1024x565.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06040845/image-83-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06040845/image-83-768x424.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06040845/image-83.png 1123w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Photo via Shutterstock

ABM Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has denied reports that it is re-entering the Chinese market with a new AI chip, despite a previous ban by the U.S. government.
What Happened: Nvidia supplier, Shenzhen-based ZJK Industrial (ZJK) is ramping up production to cater to the increasing demand for Nvidia&#8217;s B40 project. The B40 chip, a custom AI accelerator, is specifically designed for the Chinese market and is based on Nvidia&#8217;s Blackwell architecture. ZJK stated that it aims to commence mass production as early as this month, <a href="https://www.investors.com/news/technology/nvidia-stock-chipmaker-preparing-to-reenter-china/?src=A00220&amp;ref=biztoc.com">reported</a> Investor&#8217;s Business Daily.
In a statement obtained by the publication, Nvidia denied the news. &#8220;We&nbsp;are still evaluating our limited&nbsp;options. Until we settle on&nbsp;a new product design and&nbsp;receive approval from the U.S.&nbsp;government, we are effectively foreclosed&nbsp;from China&#8217;s $50 billion data center market,&#8221; clarified the Jensen Huang-led company.
ZJK manufactures precision fasteners and metal parts for industries like electronics, automotive, aerospace, energy storage, medical devices, and AI supercomputer cooling systems. The company&#8217;s CEO, Ning Ding, highlighted the B40 project&#8217;s market advantages and expects B40 chip shipments&nbsp;to exceed one million units&nbsp;by the end of 2025.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/topics/25/06/45786818/steve-ballmer-says-he-didnt-speak-to-bill-gates-for-a-year-after-becoming-microsoft-chief-reveals-pow" target="_blank" rel="noreferrer noopener">Steve Ballmer Says He &#8216;Didn&#8217;t Speak&#8217; To Bill Gates For A Year After Becoming Microsoft Chief: Reveals Power Struggle And Rift Over &#8216;Real CEO&#8217; Role</a>
Why It Matters: Reports of Nvidia re-entering the Chinese market come after the company abandoned the release of its Hopper series chip in China due to U.S. restrictions. Nvidia&#8217;s CEO, Jensen Huang, <a href="https://www.benzinga.com/markets/25/05/45487468/nvidia-abandons-hopper-series-chip-release-in-china-due-to-us-restrictions-not-possible-to-modify-hopper-anymore">confirmed </a>that further modifications to the Hopper series were not feasible.
Moreover, Huang has previously criticized U.S. chip export controls as counterproductive to America's technological leadership. He revealed that Nvidia <a href="https://www.benzinga.com/25/05/45513246/nvidia-ceo-jensen-huang-says-chinese-ai-researchers-are-world-class-and-us-companies-are-hiring-a-whole-bunch-of-them">wrote off</a> $5.5 billion in inventory and walked away from approximately $15 billion in sales due to these restrictions.
The company&#8217;s first-quarter financial results were also <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong">impacted </a>by the China export ban. However, Huang stated that the demand was &#8216;incredibly strong.&#8217;
Benzinga's Edge Rankings place Nvidia in the 74th percentile for momentum and the 99th percentile for growth, reflecting its strong performance in both areas. Check the detailed report <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>. 
Over the past month, the stock surged 23.30%.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/06/45790762/trumps-tariff-plan-could-cut-deficit-by-2-8-trillion-over-a-decade-but-not-without-" target="_blank" rel="noreferrer noopener">Trump&#8217;s Tariff Plan Could Cut Deficit By $2.8 Trillion Over A Decade — But Not Without Consequences, Warns CBO</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.

Tech

NVDA

Nvidia Denies Report Of Re-Entering Chinese Market With Custom AI Chip, Despite US Restrictions: 'We Are Still Evaluating...'

A public spat between <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">Elon Musk and President Donald Trump</a> has placed approximately $22 billion in SpaceX contracts under threat. The conflict, sparked by Musk&#8217;s disapproval of Trump&#8217;s tax and spending policies, has intensified with Trump threatening to cancel government contracts with Musk&#8217;s companies.
In retaliation, Musk has announced plans to &#8220;decommission&#8221; SpaceX&#8217;s Dragon spacecraft, a critical element of NASA&#8217;s operations.
What Happened: The Dragon spacecraft, under a $5 billion contract, is the only U.S. vessel capable of transporting astronauts to the International Space Station (ISS), according to a Reuters report.
Its potential decommissioning raises concerns about the future of U.S. space programs. NASA press secretary Bethany Stevens stated, &#8220;We will continue to work with our industry partners to ensure the president&#8217;s objectives in space are met.&#8221;
Musk, however, backed down after a user urged Musk and Trump to "cool off."
<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">Good advice. Ok, we won't decommission Dragon.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1930796810928599163?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In response, Musk said, "Good advice. Ok, we won't decommission Dragon."
See Also: <a href="https://benzinga.com/news/25/06/45800902/the-white-house-pushes-back-with-a-mythbuster-article-saying-people-wont-literally-die-from-their-tax-bill">The White House Pushes Back With A &#8216;Mythbuster&#8217; Article Saying People Won&#8217;t &#8216;Literally Die&#8217; From Their Tax Bill</a>
SpaceX&#8217;s dominance in the space industry, established before Musk&#8217;s political involvement, may mitigate some financial impacts. However, analysts like Justus Parmar of Fortuna Investments warn of significant revenue losses and missed opportunities.
The feud has already affected Trump&#8217;s space agenda, including the removal of Musk ally Jared Isaacman as NASA administrator nominee.
SpaceX&#8217;s contracts with NASA and the Pentagon, valued at billions, are crucial for U.S. space security and exploration. Former NASA Deputy Administrator Lori Garver noted that cancelling these contracts might not be legal, but Musk&#8217;s actions could jeopardize astronaut safety.
Why It Matters: The escalating feud between Musk and Trump has already had significant financial repercussions. On the same day, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">experienced a record $152 billion market cap loss</a>, removing it from the $1 trillion club.
This decline followed Musk&#8217;s public criticism of Trump&#8217;s &#8220;Big Beautiful Bill.&#8221; The fallout has also drawn reactions from political figures like Sen. Chuck Schumer and House Speaker Mike Johnson, highlighting the unraveling relationship between Musk and Trump.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here&#8217;s How The Billionaire&#8217;s Fortune Has Fared So Far In 2025</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

TSLA

After Threatening To Scrap Dragon Spacecraft Amid Tussle With Trump, Musk Backs Down Following Social Media Plea: 'Good Advice'

Despite dodging some tariff impact from not having manufacturing operations in China, Dell Technologies Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) growth is projected to subside in the second half of the fiscal year, explains this Gimme Credit analyst, as he prefers HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>).
What Happened: Even though the company has an artificial intelligence server backlog of $14 billion after the first quarter, Dave Novosel, senior investment analyst at Gimme Credit, highlighted that &#8220;lumpiness&#8221; of AI-enabled server sales was a &#8220;major issue.&#8221;
However, he said that &#8220;the torrid AI growth does not appear to be hurting traditional server growth, as traditional server revenue was up double digits in the quarter.&#8221;
According to management, a significant improvement is expected in servers and networking in the second quarter, given the aforementioned non-linear nature of orders.
However, Novosel said, &#8220;We expect growth to subside in the second half of the year, yet the overall gain for fiscal 2026 should be roughly 8%.&#8221;
The analyst also said that &#8220;Unlike HP, Dell has not suffered materially from tariffs and does not expect to over the next few quarters, attributable to the fact that it does not have manufacturing operations in China. The company indicated that the cost environment is deflationary within the PC business.
Talking about the debt issuances by both companies, Novosel said that &#8220;We find the HP spread compelling compared to other technology sector credits trading substantially tighter. We think Dell should trade considerably tighter than HP Inc. based on our near-term outlook for revenue and margins.&#8221;
The analyst maintained his &#8220;underperform&#8221; rating on the stock. 
&#8220;However, the 55 basis point difference seems extravagant. So we prefer HP at these levels and are keeping our underperform recommendation on Dell,&#8221; he added.
See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45790628/elon-musk-mike-lee-back-warren-buffetts-5-minute-fix-for-us-deficit-crisis-all-the-sitting-members-of-congress-are-ineligible-for-re-election-if-this-happens">Elon Musk, Mike Lee Back Warren Buffett&#8217;s &#8216;5-Minute&#8217; Fix For US Deficit Crisis: &#8216;All The Sitting Members Of Congress Are Ineligible For Re-Election&#8217; If This Happens</a>
Why It Matters: Looking ahead, Dell anticipates shipping approximately<a href="https://www.benzinga.com/markets/equities/25/05/45688628/dells-ai-server-orders-hit-record-12-1-billion-in-q1-backlog-swells-to-14-4-billion-exceptionally-strong-demand"> $7 billion of that backlog</a> in the second quarter. 
Vice Chairman and COO Jeff Clarke also emphasized the company's focus on actively converting its extensive "five-quarter pipeline" into new orders throughout the second quarter and the latter half of the year.
He projected a strong performance, stating that their "best outlook" suggests they will be in the "$15 billion plus" range for shipped AI server revenue for the full fiscal year.
Dell shares fell 0.76% on Thursday and declined 0.61% in after-hours. The stock was down 4.04% in 2025 and 16.53% over the whole year.
Benzinga Edge Stock Rankings show that Dell had a stronger price trend over the short and medium terms but a weaker trend over the long term. Its momentum ranking was poor, and its value ranking was moderate at the 38.61th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here.</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="155" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06021129/Dell-EDGE-NEW-1024x155.png" alt="" class="wp-image-940710" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06021129/Dell-EDGE-NEW-1024x155.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06021129/Dell-EDGE-NEW-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06021129/Dell-EDGE-NEW-768x116.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06021129/Dell-EDGE-NEW.png 1159w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Thursday. The SPY was down 0.48% at $593.05, while the QQQ declined 0.75% to $524.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading higher.
Read Next:
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Photo courtesy: mrinalpal / Shutterstock.com

Equities

DELL

Dell Rated 'Underperform' As Growth Set to Subside In 'The Second Half:' HP Deemed More Compelling By Analyst

Billionaire hedge fund manager Bill Ackman and rapper Ye are calling for reconciliation between President Donald Trump and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk following their explosive public feud over Trump&#8217;s tax bill.
What Happened: The Trump-Musk alliance crumbled Thursday after Musk criticized the president&#8217;s &#8220;Big Beautiful Bill&#8221; as a <a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">&#8220;disgusting abomination&#8221;</a> on the social media platform X.
Trump fired back during a White House event, calling Musk&#8217;s opposition &#8220;Trump Derangement Syndrome&#8221; and expressing disappointment in his former ally.
&#8220;I&#8217;m very disappointed because Elon knew the inner workings of this bill better than almost anybody,&#8221; Trump said, specifically citing <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">Musk&#8217;s opposition to EV mandate cuts</a>. &#8220;Elon and I had a great relationship. I don&#8217;t know if we will anymore.&#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">Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1930667528696828120?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk responded by claiming credit for Trump&#8217;s electoral victory, posting: &#8220;Without me, Trump would have lost the election, Dems would control the House, and the Republicans would be 51-49 in the Senate. Such ingratitude.&#8221;
Ackman quickly intervened, posting on X: &#8220;I support @realDonaldTrump and @elonmusk and they should make peace for the benefit of our great country. We are much stronger together than apart.&#8221; Musk replied: &#8220;You&#8217;re not wrong.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I support <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> and <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> and they should make peace for the benefit of our great country. We are much stronger together than apart.
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1930738907081331040?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ye took a more emotional approach, writing: &#8220;Broooos please noooooo. We love you both so much,&#8221; accompanied by a hugging emoji.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Broooos please noooooo &#x1fac2; We love you both so much
&mdash; ye (@kanyewest) <a href="https://twitter.com/kanyewest/status/1930709557879439628?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45807620/anthony-scaramucci-says-trump-as-a-political-asset-has-started-decaying-amid-feud-with-elon-musk-and-teslas-billion-dollar-wipeout-mark-the-day">Anthony Scaramucci Says Trump As A &#8216;Political Asset Has Started Decaying&#8217; Amid Feud With Elon Musk And Tesla&#8217;s Billion Dollar Wipeout: &#8216;Mark The Day&#8217;</a>
Why It Matters: Tesla shares plunged 14.26% on Thursday, marking the stock&#8217;s worst single-day decline and wiping out $152 billion in market capitalization. Musk&#8217;s fortune dropped $33.9 billion to $335 billion, though he remains the world&#8217;s richest person.
Tesla stock has declined 18.8% year-to-date, with Musk&#8217;s political activism creating brand damage and protests at dealerships. The Congressional Budget Office estimates<a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing"> Trump&#8217;s spending package</a> could add $2.3 trillion to $5.7 trillion to federal debt by 2034.
The relationship deteriorated after Musk left his Department of Government Efficiency role last week, having previously been a White House fixture who brought his son to the Oval Office. Bond markets have reacted negatively to fiscal concerns, with economists like Nassim Taleb warning that the budget &#8220;will bankrupt America.&#8221;
Leading economist Peter Schiff praised Musk&#8217;s stance, calling him &#8220;a man of principle&#8221; for opposing Republican spending hypocrisy. The Senate must approve the package before the July 4 recess. Read Next:
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</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

Politics

Bill Ackman And Ye Call For Trump-Musk Reconciliation After Public Fallout Over Tax Bill

Burning Rock Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNR#NASDAQ">BNR</a>) reported quarterly losses of $(0.20) per share. This is a 87.5 percent increase over losses of $(1.60) per share from the same period last year. The company reported $18.34 million in sales this quarter. This is a 5.41 percent increase over sales of $17.40 million the same period last year.

Burning Rock Biotech Q1 EPS $(0.20) Up From $(1.60) YoY, Sales $18.34M Up From $17.40M YoY

As U.S. President Donald Trump&nbsp;and&nbsp;Chinese President Xi Jinping&nbsp;break the ice with a phone call after months of silence, analysts weigh in on what&#8217;s in store for the U.S.-China trade.
What Happened: The U.S. and China have been at odds over trade for a considerable period. The call signifies some advancement in establishing ground rules for a potential meeting. Jeremy Chan, Senior China Analyst at the Eurasia Group consultancy, stated that this communication suggests a level of respect from President Trump towards President Xi, <a href="https://www.scmp.com/news/china/diplomacy/article/3313235/china-us-presidents-break-months-long-stand-phone-call?module=top_story&amp;pgtype=homepage">reported</a> The South China Morning Post.
However, analysts have noted that more than optimistic statements are required to resolve the deeply rooted trade differences between the two nations. Chan further noted that Xi typically consents to meetings with foreign leaders only after substantial groundwork has been laid through lower-level diplomatic efforts.
"Xi has bowed to reality, like so many other foreign leaders before him, that there is no substitute for direct negotiations with Trump," stated Chan, who is also a former U.S. diplomat.
On the other hand, ASPI&#8217;s Wendy Cutler highlighted the complexity of the upcoming trade talks and the challenges.
"The likelihood of further misunderstandings, coupled with a fundamental lack of trust, will present enormous challenges for the negotiators as they try to hammer out a deal," cautioned Cutler. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires" target="_blank" rel="noreferrer noopener">Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here&#8217;s How The Billionaire&#8217;s Fortune Has Fared So Far In 2025</a>
Why It Matters: This phone call comes in the wake of escalating trade tensions between the two countries. On Thursday, U.S. stocks<a href="https://www.benzinga.com/news/politics/25/06/45793852/trump-reaches-out-to-xi-as-markets-react-tensions-simmer"> dipped following</a> reports of a phone call between Presidents Donald Trump and Xi Jinping, signaling a possible thaw in China trade tensions. The outreach was said to have come from the U.S. side, as per CNBC, citing Chinese state media.
Earlier in May, President Trump had expressed his willingness to travel to China <a href="https://www.benzinga.com/media/25/05/45481159/donald-trump-offers-to-visit-xi-jinping-in-beijing-calls-us-china-ties-important-after-striking-temporary-trade-truce">to meet </a>with President Xi Jinping, emphasizing the importance of the U.S.-China relationship. 
In early May, the South China Morning Post reported that the U.S. and China are struggling to <a href="https://www.benzinga.com/news/global/25/05/45188171/china-pushes-for-special-envoys-as-direct-deal-with-trump-deemed-risky-plans-fentanyl-concessions-as-negotiating-leverage-report">resume trade talks</a>. China suggested using special envoys, but the U.S. prefers direct talks between Trump and Xi—a move China considers &#8220;risky and uncertain.&#8221;
This latest phone call could be seen as a step towards that potential meeting, and a move towards resolving the trade disputes.
Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) and Alibaba Group Holding Ltd &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 1.13% and 0.43%, respectively, on Thursday. Meanwhile, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) declined 0.72%
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Xi Has 'Bowed To Reality,' Says China Analyst, Urges More Engagement Between Leaders To Resolve Trade Issues: 'No Substitute For Direct Negotiations With Trump'

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The war of words between President Donald Trump and his former advisor, Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk, reached new heights when the latter publicly backed a call to impeach the President and replace him with Vice President JD Vance.
What Happened: Amid the <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">ongoing feud</a> between two of the world's most powerful individuals, right-wing commentator Ian Miles Cheong posted: "President vs Elon. Who wins? My money's on Elon. Trump should be impeached and JD Vance should replace him."
Musk replied with a "Yes" around 20 minutes later. Cheong's post was accompanied by a screenshot of a post Musk made earlier, alleging that Trump's name appears in the Epstein files.
<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">President vs Elon. Who wins? My money&#39;s on Elon. Trump should be impeached and JD Vance should replace him. <a href="https://t.co/r0D4Gkiz4v">pic.twitter.com/r0D4Gkiz4v</a>
&mdash; Ian Miles Cheong (@stillgray) <a href="https://twitter.com/stillgray/status/1930713852175331335?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: <a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">The fallout</a> between the two men was triggered by Musk's <a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">sharp criticism of Trump's "big, beautiful bill"</a>. The conflict escalated after Trump said he was "very surprised" and "very disappointed" in Musk's comments. Musk pushed back, claiming he had helped Trump win in 2024 and accused him of "ingratitude."
The <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805173/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession">trading of insults continued</a>, with Musk posting: &#8220;Congress is spending America into bankruptcy!&#8221; and Trump stating, &#8220;I don&#8217;t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress.&#8221;
Trump and Musk also sparred over Musk's EV mandate, with the former alleging that the removal of the mandate had caused Musk to go "CRAZY."
Press secretary Karoline Leavitt reacted to the situation, saying: "This is an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted."
Tesla lost a staggering $152 billion in market value on Thursday, marking a record single-day decline. Despite the drop, the electric vehicle maker still carries a consensus price target of $299.60, based on assessments from 26 analysts.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="378" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020135/image-79.png" alt="" class="wp-image-940697" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020135/image-79.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020135/image-79-300x111.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020135/image-79-768x284.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Price Action: Tesla shares have dropped 24.50% so far this year. However, in Thursday's after-hours trading, the stock edged up 0.77% to close at $286.90, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</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="442" height="270" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020148/image-80.png" alt="" class="wp-image-940698" style="width:436px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020148/image-80.png 442w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020148/image-80-300x183.png 300w" sizes="(max-width: 442px) 100vw, 442px" /></a></figure>
Benzinga&#8217;s Edge Stock Rankings point to Tesla's solid price momentum across short, medium, and long-term trends. More detailed performance insights can be <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">found here</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">Elon Musk Loses $34 Billion As Tesla Sheds $153 Billion Amid Feud With Trump—Here&#8217;s How The Billionaire&#8217;s Fortune Has Fared So Far In 2025</a></li>
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Photo courtesy: Shutterstock

Elon Musk Says 'Yes' To Impeaching Trump, Replacing Him With JD Vance Amid Fierce Back-And-Forth Over 'Big, Beautiful Bill'

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President&nbsp;Donald Trump&nbsp;has hinted at a possible reconciliation with&nbsp;Elon Musk&nbsp;following a public spat. The White House is reportedly working to de-escalate the situation.
What Happened: Trump, in an interview with&nbsp;<a href="https://www.politico.com/news/2025/06/05/trump-white-house-aides-signal-a-possible-detente-with-musk-00391502">Politico</a>&nbsp;on Thursday, appeared nonchalant about his recent social media clashes with Musk. The President&#8217;s aides have been urging him to tone down&nbsp;his public criticism of Musk&nbsp;to prevent further escalation. They have even scheduled a call with Musk to potentially resolve the conflict.
Despite the apparent tension, Trump seemed unfazed, stating, "Oh it's okay."
&#8220;It&#8217;s going very well, never done better.&#8221; He also mentioned his high favorability ratings, indicating a possible shift in his stance towards Musk.
The White House did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
The feud between the two influential figures centered around Trump&#8217;s &#8220;big beautiful bill,&#8221; a legislative proposal encompassing his presidential agenda. The exchanges became increasingly acrimonious, prompting aides and allies to intervene and Musk to show a willingness to mend fences.
Earlier on Thursday, Trump, at the behest of his aides, moderated his comments on social media, focusing on the bill&#8217;s passage through the Senate rather than the conflict with Musk. This change in tone was evident in one of Trump&#8217;s Truth Social posts.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="602" height="300" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020016/image-78.png" alt="" class="wp-image-940694" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020016/image-78.png 602w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/06020016/image-78-300x150.png 300w" sizes="(max-width: 602px) 100vw, 602px" /></figure>
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/06/45800902/the-white-house-pushes-back-with-a-mythbuster-article-saying-people-wont-literally-die-from-their-tax-bill" target="_blank" rel="noreferrer noopener">The White House Pushes Back With A &#8216;Mythbuster&#8217; Article Saying People Won&#8217;t &#8216;Literally Die&#8217; From Their Tax Bill</a>
Why It Matters: This feud has strained the <a href="https://www.benzinga.com/news/politics/25/06/45800612/trump-says-musk-has-trump-derangement-syndrome-as-battle-over-bill-heats-up-had-a-great-relationship-dont-know-if-we-will-anymore">once close</a> relationship between Trump and Musk, who was instrumental in the Department of Government Efficiency during the early days of Trump&#8217;s administration.
The public spat between Trump and Musk has had significant repercussions. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares plummeted by 14.26%, <a href="https://www.benzinga.com/news/movers-shakers/25/06/45807280/elon-musk-bleeds-34-billion-as-tesla-shares-tank-14-amid-spat-with-trump-how-the-billionaires-fortune-has-fared-so-far-in-2025">erasing $152 billion </a>in market capitalization, marking its largest single-day decline. This feud has not only affected Tesla&#8217;s stock but also Musk&#8217;s personal fortune.
 The potential truce could help mend their relationship and possibly stabilize Tesla&#8217;s stock.
Tesla stock plunged 14.26% on a single day and closed at $284.70 on Thursday. It recovered 0.77% during the after-hours trading, as per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/45784639/jeff-bezos-let-customers-cancel-their-own-amazon-orders-and-it-paid-off-big-if-you-give-people-more-" target="_blank" rel="noreferrer noopener">Jeff Bezos Let Customers Cancel Their Own Amazon Orders And It Paid Off Big: &#8216;If You Give People More Control&#8230;Maybe They&#8217;ll Order More&#8217;</a></li>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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