Electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) reported third-quarter financial results <a href="https://www.benzinga.com/earnings">after market close Wednesday.</a>



Here are the key highlights.



What Happened: Tesla reported third-quarter revenue of $28.095 billion, up 12% year-over-year. The revenue total beat a Street consensus estimate of $26.239 billion according to data from Benzinga Pro.



This marked the first revenue beat compared to consensus estimates by the company after four straight misses.



Automotive revenue was $21.21 billion in the quarter, up 6% year-over-year.



Revenue growth was aided by increases in delivery, energy, and services, and hindered by lower regulatory credit revenue.



Tesla reported third-quarter earnings per share of 50 cents, missing a Street consensus estimate of 54 cents per share. This was the fourth straight miss for earnings per share by Tesla.



Operating income fell 40% year-over-year to $1.6 billion in the third quarter, with the company reporting an operating margin of 5.8%.



Tesla<a href="https://www.benzinga.com/trading-ideas/movers/25/10/47994838/tesla-stock-climbs-on-record-q3-deliveries" target="_blank" rel="noreferrer noopener">&nbsp;previously reported third-quarter deliveries</a>&nbsp;of 497,099, a new company record. The company also reported third-quarter production of 447,450 vehicles.



The company said record deliveries came with growth across all regions.



Energy storage was also a record in the third quarter with 12.5 GWh storage deployed.



Tesla ended the quarter with 7,753 Supercharger locations, up 16% year-over-year. The company ended the quarter with 73,817 Super charger connectors.



The company had $1.315 billion in digital assets on the balance sheet at the end of the quarter, likely made up of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings. This marked an increased value from $1.235 billion reported in the second quarter.



Tesla ended the quarter with $41.6 billion in cash.



Read Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/10/48340225/tesla-q3-preview-is-the-ev-story-over-these-are-3-key-areas-to-watch">Tesla Q3 Preview: Is The EV Story Over? These Are 3 Key Areas To Watch</a>



What's Next: Tesla said it will continue to launch products that excited customers including the Model YL, Model Y Performance and the new affordable Model 3 and Model Y Standard vehicles.



"We believe our scale and cost structure will enable us to navigate the shifting market dynamics across the globe more efficiently than our peers, with advances in AI making our products the most compelling in the market," the company said.



Tesla said it is focused on long-term growth and value creation, which comes in the face of tariffs and shifting trade policies.



The company said it has sufficient liquidity to fund its product roadmap and for long-term capacity expansion plans.



Tesla said the Cybercab, Tesla Semi and Megapack 3 are all on schedule for volume production in 2026. The company also said its Optimus Bot has first generation production lines being installed ahead of anticipated volume production.



TSLA Price Action: Tesla stock is down 1.1% to $434.20 in after-hours trading Wednesday versus a 52-week trading range of $212.11 to $488.54



Read Next: 



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/10/48361618/tesla-analyst-says-elon-musk-will-be-heavy-on-optimism-and-light-on-truth-for-q3-earnings-call">Tesla Analyst Says Elon Musk Will &#8216;Be Heavy On Optimism And Light On Truth&#8217; For Q3 Earnings Call</a></li>
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$BTC

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Tesla Q3 Highlights: Record EV Deliveries, Falling Profits, AI Ambitions Ahead

International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>) reported financial results for the third quarter after the market close on Wednesday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/25/10/n48366251/ibm-releases-third-quarter-results">of the report</a>.



<ul class="wp-block-list">
<li>IBM is building momentum. <a href="https://www.benzinga.com/quote/IBM" target="_blank" rel="noreferrer noopener">Find out why here.</a></li>
</ul>



Q3 Highlights: IBM reported third-quarter revenue of $16.33 billion, beating the&nbsp;<a href="https://www.benzinga.com/quote/IBM/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $16.09 billion, according to <a href="http://pro.benzinga.com" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.&nbsp;The company reported third-quarter adjusted earnings of $2.65 per share, beating analyst estimates of $2.45 per share.



Total revenue was up 9% on a year-over-year basis. Here&#8217;s a breakdown of revenue by category.



<ul class="wp-block-list">
<li>Software: up 10%</li>
</ul>



<ul class="wp-block-list">
<li>Consulting: up 3%</li>
</ul>



<ul class="wp-block-list">
<li>Infrastructure: up 17%</li>
</ul>



Cash flow from operations totaled $3.1 billion in the quarter and free cash flow came in at $2.4 billion. IBM ended the period with $14.9 billion in cash, restricted cash and marketable securities.



&#8220;Clients globally continue to leverage our technology and domain expertise to drive productivity in their operations and deliver real business value with AI. Our AI book of business now stands at more than&nbsp;$9.5 billion,&#8221;&nbsp;said&nbsp;Arvind Krishna, chairman, president and CEO of IBM.



IBM returned&nbsp;$1.6 billion&nbsp;to shareholders via dividends in the&nbsp;third quarter. The company&#8217;s board approved a quarterly cash dividend of $1.68 per share, payable on Dec. 10 to shareholders of record as of Nov. 10.



What&#8217;s Next: IBM now expects constant currency revenue growth of &#8220;more than&#8221; 5% for full-year 2025, up from prior guidance of &#8220;at least&#8221;&nbsp;5%. The company also guided for full-year free cash flow of approximately $14 billion, up from prior guidance of more than $13.5 billion.



IBM executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.



IBM Price Action: <a href="https://www.benzinga.com/quote/IBM" target="_blank" rel="noreferrer noopener">IBM shares</a> were down 5.12% in after-hours, trading at $273.93 at the time of publication on Wednesday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Read Next:



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<li><a href="https://www.benzinga.com/markets/market-summary/25/10/48362104/wednesday-markets-wall-street-today-netflix-trump-china-tech-export-curbs-earnings-gold-bitcoin">Tech Stocks Drop, Netflix Sinks 10% On Worst Day Since 2022: What&#8217;s Moving Markets Wednesday?</a></li>
</ul>



Image: Shutterstock.com

News

Guidance

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Tech

IBM Stock Slips Despite Q3 Earnings Beat, Raised Guidance On Strong AI-Related Demand

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/META">META</a>) confirmed on Wednesday that about 600 roles will be eliminated from its artificial intelligence division as part of an effort to streamline operations and <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/10/48334315/meta-revenue-growth-over-google-ai-driven-ads">become more agile. </a>



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



<h2 class="wp-block-heading">Job Cuts</h2>



The decision was disclosed in an internal memo from Chief AI Officer Alexandr Wang, who joined the company in June following Meta's $14.3 billion investment in Scale AI. 



Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48356965/latest-beyond-meat-short-seller-martin-shkreli-of-course%20$BYND%20%20Latest%20Beyond%20Meat%20Short-Seller?%20Martin%20Shkreli,%20Of%20Course">Latest Beyond Meat Short-Seller? Martin Shkreli, Of Course</a>



The layoffs will affect staff in AI infrastructure, Fundamental Research and product-related teams, according to <a href="https://www.axios.com/2025/10/22/meta-superintelligence-tbd-ai-reorg">Axios</a>. 



Some employees were informed Wednesday that their official end date is Nov. 21. Until then, they will remain on a nonworking notice period without system access, but can apply for new internal positions. 



Meta will provide 16 weeks of severance pay plus two additional weeks for each full year of service, minus the notice period.



<h2 class="wp-block-heading">AI Strategy</h2>



The company has been restructuring its AI strategy to compete with OpenAI and Google, investing heavily in computing resources and hiring. 



CEO Mark Zuckerberg has expressed dissatisfaction with Meta's AI momentum, particularly after the lukewarm reception of the Llama 4 models launched in April. 



Following the Scale AI deal, he introduced Meta Superintelligence Labs, led by Wang and former GitHub CEO Nat Friedman.



In July's earnings update, Meta projected 2025 expenses between $114 billion and $118 billion, raising its earlier forecast and noting that AI spending will drive even higher growth in 2026. 



The company is set to report its third-quarter results next week.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/10/48338235/elon-musk-moon-deal-head-of-nasa-has-2-digit-iq-spacex">Elon Musk Says Head Of NASA Has &#8216;2 Digit IQ&#8217; — SpaceX&#8217;s Moon Deal Hangs In Balance</a></li>
</ul>



Photo: Shutterstock

Large Cap

Meta's AI Shakeup: 600 Jobs Cut To Speed Up Progress

Galaxy Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GLXY">GLXY</a>) CEO Mike Novogratz said the world's largest cryptocurrency could "take out the topside" and break above $125,000 if <a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48166648/donald-trump-once-said-the-us-could-pay-off-its-37-trillion-debt-burden-with-bitcoin-but-could-it-really">President </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/10/48166648/donald-trump-once-said-the-us-could-pay-off-its-37-trillion-debt-burden-with-bitcoin-but-could-it-really">Donald Trump</a> moves on the Federal Reserve and the pending market structure bill becomes law.



<h3 class="wp-block-heading">Novogratz Sees Trump Policy As Key Catalyst</h3>



Speaking during a recent interview <a href="https://x.com/BTCTN/status/1981009596404891692">shared</a> on X, Novogratz outlined a potential trading range between $100,000 and $125,000 for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) but suggested a breakout could come swiftly if fiscal or regulatory catalysts align.



"We could take out the top side if the president prematurely makes a move on the Fed," Novogratz said.&nbsp;



"They could target that easily by the end of the year. And if this bill gets passed, those are the two catalysts I see."



Novogratz added that $100,000 should act as the lower boundary for Bitcoin, implying that the asset remains in a broad accumulation phase rather than entering a deeper correction.&nbsp;



His comments echo earlier calls from institutional strategists pointing to policy shifts as potential triggers for a renewed bull cycle.



<h3 class="wp-block-heading">Bitcoin Tests Support Cluster Near $108,000</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct-1024x694.png" alt="" class="wp-image-1126424" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142555/btc-22nd-oct.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/BTCUSD/">BTC Price Action (Source: TradingView)</a>



Technical Analysis: Technical indicators are signaling continued stress around the $108,000 region. 



The area marks the convergence of the 200-day exponential moving average at $108,095 and the rising trendline from March.



A close below this confluence would confirm a technical breakdown, exposing the next support zone near $104,000 and potentially the deeper structural floor at $92,000.&nbsp;



The 20-day and 50-day EMAs at $112,095 and $112,802 have both rolled over, maintaining a bearish bias.



The rejection at $116,000 last week underscored sellers control, while the Supertrend indicator at $119,393 continues to cap upside moves.&nbsp;



Bulls need a strong push through the $116,000–$119,500 zone to reverse the negative trend.



<h3 class="wp-block-heading">Institutional Flows Show Bitcoin Sentiment Still On Edge</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569-1024x250.png" alt="" class="wp-image-1126416" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569-1024x250.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569-300x73.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569-1536x375.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22142349/image-569.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.coinglass.com/currencies/BTC/spot">BTC Netflows (Source: Coinglass)</a>



Data from Coinglass shows a modest $25.6 million net inflow on Oct. 22 as Bitcoin traded around $107,757. 



While inflows offer short-term relief, the broader picture since mid-year still shows heavier outflows, suggesting institutional investors remain cautious.



Historically, persistent outflows have hinted at accumulation, but this cycle's imbalance suggests that more supply is returning to exchanges than being moved into cold storage.



Read Next: 



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<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/10/48362930/teslas-reality-check-can-ev-etfs-regain-power-after-earnings">Tesla&#8217;s Reality Check: Can EV ETFs Regain Power After Earnings?</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

Markets

GLXY

Galaxy CEO Mike Novogratz Says Bitcoin Is One Trump Move Away From Exploding Past $125,000

A notable Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) <a href="https://www.benzinga.com/topic/gordon-johnson">bearish analyst </a>shares thoughts on what the company will report for<a href="https://www.benzinga.com/trading-ideas/previews/25/10/48340225/tesla-q3-preview-is-the-ev-story-over-these-are-3-key-areas-to-watch"> third-quarter financial results</a> and what CEO Elon Musk will say on the conference call.



The Tesla Analyst: GLJ Research analyst Gordon Johnson maintained a Sell rating on Tesla with a $19.05 price target ahead of the earnings report.



Musk may be "heavy on the optimism" during the company's third-quarter results and conference call, Johnson said in a new investor note.



The analyst said Musk's optimism would come ahead of the Nov. 1 shareholder vote on <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/10/48019320/elon-musk-pay-package-compared-to-nfl-imagine-youre-patrick-mahomes-and-not-gonna-get-a-salary">his pay package.</a>



While Johnson is bearish on Tesla, he says that consensus estimates for Tesla's third-quarter results could be "too conservative."



"The real driver of how Tesla's stock trades post-print won't be the numbers – it'll be whatever story Elon Musk decides to tell this time," Johnson said.



Johnson spoke with Tesla investors ahead of the earnings call and said the consensus is that the CEO will sound "aggressively upbeat" as he needs to keep the stock price high ahead of the vote for his pay package.



"We find it difficult to believe that any serious institutional investor could, with a straight face, vote to ratify that," Johnson said of Musk's pay package.



The analyst expects Tesla's fundamentals to unravel in the fourth quarter, but doesn't expect Musk to talk about that on Wednesday.



"Unlike last quarter, when he offered a rare moment of candor about the road ahead, we anticipate this call will be heavy on optimism and light on truth. As a result, the near-term risk is skewed to the upside into the print."



Johnson said any enthusiasm for shares after earnings could be "an opportunity to reset short positions."



Read Also: <a href="https://www.benzinga.com/markets/tech/25/10/48263490/tesla-insurance-heads-to-first-new-state-in-three-years-heres-where-users-will-soon-have-access">Tesla Insurance Heads To First New State In Three Years: Here&#8217;s Where Users Will Soon Have Access</a>



Investors Expect A Beat: Tesla<a href="https://www.benzinga.com/trading-ideas/movers/25/10/47994838/tesla-stock-climbs-on-record-q3-deliveries" target="_blank" rel="noreferrer noopener">&nbsp;previously reported third-quarter deliveries</a>&nbsp;of 497,099, a new company record. The company also reported third-quarter production of 447,450 vehicles.



Record deliveries could be factoring into why prediction markets show investors believing the company will beat estimates for the third quarter.



On prediction market Polymarket, users have <a href="https://polymarket.com/event/tsla-quarterly-earnings-nongaap-eps-2025-10-22-0pt5?tid=1761148607413">bet </a>over $535,000 on whether Tesla will beat earnings. The market shows an 80% chance that Tesla will beat third-quarter earnings per share, with Polymarket using 50 cents per share as the non-GAAP earnings estimate.



Prediction market Kalshi has a betting <a href="https://kalshi.com/markets/kxearningsmentiontsla/tesla-earnings-mention/kxearningsmentiontsla-25oct22">market </a>for what Musk and Tesla will say on the earnings call Wednesday night. Among the top predictions are items that could be part of Tesla's future growth story, with words like "Energy," "Robotaxi," "FSD," and "Optimus" all having 95% or greater odds of being said.



Further down the list could be potential headwinds for the company with predictions of Tesla saying China (85%), Cybertruck (83%) and Competition (46%).



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXEARNINGSMENTIONTSLA-25OCT22?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXEARNINGSMENTIONTSLA-25OCT22-ENRG&#038;ids=KXEARNINGSMENTIONTSLA-25OCT22-TAXI&#038;ids=KXEARNINGSMENTIONTSLA-25OCT22-FSD" width="512px" height="236px" style="border:0"></iframe>



According to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102225&amp;t=be2bearmibe3na1">from Benzinga Pro</a>, Tesla has missed analyst earnings estimates in three straight quarters and in seven of the last 10 quarters overall.



The company has also missed revenue estimates in four straight quarters and in seven of the last 10 quarters overall.



TSLA Price Action: Tesla stock is down 2.2% to $433.08 on Wednesday versus a 52-week trading range of $212.11 to $488.54. Tesla stock is up 14.3% year-to-date in 2025.



Read Next: 



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</ul>



Photo: Shutterstock

Analyst Color

Price Target

Analyst Ratings

Tesla Analyst Says Elon Musk Will 'Be Heavy On Optimism And Light On Truth' For Q3 Earnings Call

Staking cryptocurrency has become the high-risk version of a dividend play, with 35% of digital-asset investors saying in <a href="https://www.ey.com/content/dam/ey-unified-site/ey-com/en-us/insights/financial-services/documents/ey-growing-enthusiasm-propels-digital-assets-into-the-mainstream.pdf?utm" rel="nofollow">EY's March 2025 survey</a> that yield generation keeps them in the game. 



Unlike dividend stocks or bonds, staking returns come with liquidity limits and lock-ups that prevent investors from selling at preferred prices.



Some higher-yielding cryptocurrencies, like five-year-old blockchain network Polkadot (CRYPTO: DOT),  have seen prices drop roughly 30% over the past year — wiping out much of the staking income. DOT currently offers about 7.6% annualized yield.



"Staking has emerged as the Web3 equivalent of dividends, but with unique trade-offs investors need to recognize," said Alex Hung, Head of Operations at cryptocurrency exchange BTCC, founded in Shanghai in 2011. "On one hand, it provides a predictable yield mechanism that can encourage long-term holding and stability within crypto ecosystems. On the other, liquidity constraints, technical risks, and evolving regulatory interpretations make it far less straightforward than buying a dividend stock or a bond. For retail investors, the key is to weigh the potential yield against the heightened uncertainty, rather than viewing staking as a guaranteed income stream."



The<a href="https://sec.gov" rel="nofollow"> U.S. Securities and Exchange Commission</a>'s Division of Corporation Finance issued a staff <a href="https://www.sec.gov/newsroom/speeches-statements/corpfin-certain-liquid-staking-activities-080525?utm" rel="nofollow">statement </a>on August 5, 2025, addressing digital assets liquid staking, in particular. Liquid staking means you can buy and sell when you want as opposed to having to lock-in. This August note was a follow-up to its<a href="https://www.sec.gov/newsroom/speeches-statements/statement-certain-protocol-staking-activities-052925" rel="nofollow"> May 29, 2025</a> Protocol Staking Statement.



<a href="https://kelman.law/secs-august-2025-update-regarding-crypto-staking/?utm" rel="nofollow">Legal risks remain</a> if token sellers introduce yield guarantees or additional perks. This evolving landscape makes the staking landscape uncertain. 



"I think staking is still a massive risk for retail investors," said Naeem Aslam, CIO of Zaye Capital Markets in London. "Even professional investors remain uncertain about the safety and liquidity of these assets." In other words, the yield looks nice, but the underlying asset may become worthless. What's 100% of nothing? Exactly.



Still, this is a market that continues to evolve, however.&nbsp; We are in the early stages of cryptocurrency as a bonafide asset class.



Blockchain networks will offer yield often for certain staking periods. To get that yield, investors need to lock-up and stake their tokens to the network over a specified time frame before selling. Staking can take many forms, but is usually either active and passive. Active staking means locking tokens to a network for the purpose of actively participating in the network. Active participants may validate transactions and create new blocks to earn token rewards. This is more for developers.



Passive staking is for investors of all types. They agree not to sell for a period of time to earn yield.&nbsp;



The fintech world has developed a few different types of staking, with the simplest ones to understand being exchange-based staking and liquid staking. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is the leading example of a liquid staking ecosystem, thanks to protocols like Lido (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">LDO</a>), Rocket Pool (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RPL</a>), and Coinbase Wrapped Staked ETH (CRYPTO: CBETH).



<h2 class="wp-block-heading">Estimated Yields and 2025 Performance</h2>



Data as of mid-October 2025; estimates from StakingRewards and major exchange dashboards. Actual rates vary by provider.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Crypto</td><td>Approximate Yield</td><td>Year-to-Date Gain/Loss</td></tr><tr><td>Ethereum</td><td>2.9%-4%</td><td>+18.4%</td></tr><tr><td>Solana (SOL)</td><td>6.5%-7%</td><td>+42%</td></tr><tr><td>Avalanche (AVAX)</td><td>7%-8%</td><td>-46.4%</td></tr><tr><td>Cosmos (ATOM)</td><td>12%-18%</td><td>-49.5%</td></tr><tr><td>Near Protocol (NEAR)</td><td>~11%</td><td>-56.8%</td></tr><tr><td>Cardano (ADA)</td><td>2%-3%</td><td>-27.5%</td></tr></tbody></table><figcaption class="wp-element-caption">Source: Author</figcaption></figure>



A $10,000 investment in Cosmos staked at 15% would generate about $1,500 in annual yield, but with the token down roughly 50%, the holding's value would be near $5,000 — a net loss around $3,500 after rewards.



<h2 class="wp-block-heading">Staking: Risk &amp; Reward</h2>



Because token prices can swing wildly, staking income can vanish quickly in a bear market. Once prices drop, many alt-coins take years — if ever — to recover.



For investors who want cash immediately, unstaking tokens can come with exit delay periods, making it harder to time a sale or quickly allocate capital to something else. Some firms will borrow against staked assets, adding to the risk. The bigger the whale's use of leverage, the worse it can be for the entire market if they make a terrible trade.



But as digital assets become a bigger part of an investment portfolio, <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43690757/are-ethereum-staking-etfs-on-the-way">asset managers are seeking regulatory approval</a> to build crypto ETFs that pay staking yield. In September, REX Shares and Osprey funds <a href="https://www.rexshares.com/rex-osprey-launches-first-ethereum-staking-etf-in-the-u-s/" rel="nofollow">announced </a>the REX-Osprey ETH + Staking ETF (BATS:<a class="ticker" href="https://www.benzinga.com/quote/ESK">ESK</a>), the first 1940 Act U.S.-listed ETF to give investors exposure to staked Ethereum. Yield is paid monthly.



Greg King, CEO of REX Financial said ESK "continues our work of introducing crypto staking through the ETF structure." For a while, it looked like the <a href="https://www.etf.com/sections/news/sec-concerned-about-crypto-etfs-staking-exposure" rel="nofollow">SEC was not going to allow this</a> ETF to go forward. Its approval suggests regulators are warming to staking exposure while tightening safeguards against familiar crypto hazards like lock-ups, protocol bugs, regulatory ambiguity, and slashing — the automatic loss of tokens when validators break network rules.



Staking is more than a way to earn yield—it is the foundation of security and economic design in modern blockchains, Grayscale's vice president Yubo Li wrote in a <a href="https://research.grayscale.com/reports/staking-101-secure-the-blockchain-earn-rewards?utm" rel="nofollow">report </a>dated Oct. 2. When participants stake, they commit capital that protects the network, while earning variable returns linked to network activity.



"Staking generates predictable, yield-like returns that resemble fixed income in traditional markets," Li wrote. "Unlike contractual yield from bonds or other fixed income instruments, staking rewards are protocol-driven, variable, and contingent on network factors such as validator performance, token inflation schedules, and governance decisions. These rewards serve as incentives for validators to secure the network and promote its ongoing usage."



Li predicted that staking will be equal to cryptocurrency payment programs and clearing systems as "one of the essential pillars" of this new financial infrastructure. "Institutional interest in crypto investments may rise," he predicted, citing the increased prevalence of staking as another reason why.



Disclosure: The author is an investor in Polkadot, Ethereum and Solana.



Featured image credit: Author



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

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$ETH

$LDO

$RPL

Staking Crypto: The High-Risk Dividend Play Luring 35% Of Digital-Asset Investors

Risk sentiment deteriorated sharply on Wednesday as a wave of disappointing earnings guidance and escalating U.S.-China trade <a href="https://www.benzinga.com/markets/equities/25/10/48361096/trump-mulls-tech-export-crackdown-on-china-these-10-stocks-are-sinking">tensions rattled investor confidence</a>.



The Trump administration is considering new restrictions on exports to China that would target products either made with or containing U.S.-developed software. If enacted, the measure could significantly curb global shipments of a wide range of goods to China, deepening the tech trade war between the world's two largest economies.



The Nasdaq 100 fell 1.2% to 24,820 points, while the S&amp;P 500 declined 0.7% to 6,690. Technology was the session's worst-performing sector, with semiconductor stocks leading losses. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMH">SMH</a>) dropped 2.8%.



The VIX – also known as the market&#8217;s fear gauge – rallied 9% to 19.6 levels. 



Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) was the S&amp;P 500's biggest laggard, plunging 10.2% in its worst session since April 2022. The streaming giant fell short of third-quarter profit estimates after incurring a $619 million tax dispute-related loss in Brazil, which overshadowed its otherwise strong content performance.



Other notable decliners included Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SMCI">SMCI</a>), down 7.2%, and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>), which fell 7%.



On the upside, Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ISRG">ISRG</a>) soared 14% after posting better-than-expected quarterly results. 



Gold prices extended losses for a second straight day, with the metal falling 1.8% to $4,050 per ounce after Monday's dramatic 5.3% plunge. However, the renewed threat of U.S. tech export controls to China offered some intraday support to the safe-haven asset. Silver dropped another 1.2% to $48 per ounce, following Monday's volatile 7.1% slide.



Crypto sentiment also turned negative. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.3% to $108,000, while altcoins saw steeper declines. Shares of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COIN">COIN</a>) and MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>) dropped 6% and 4.9%, respectively.



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



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices </td><td>Price</td><td>1-day %</td></tr><tr><td>Dow Jones</td><td>46,676.43</td><td>-0.5%</td></tr><tr><td>S&amp;P 500</td><td>6,689.86</td><td>-0.7%</td></tr><tr><td>Nasdaq 100</td><td>24,819.43</td><td>-1.2%</td></tr><tr><td>Russell 2000</td><td>2,439.65</td><td>-1.9%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:15 p.m. ET</figcaption></figure>



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



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) dropped 0.8% to $612.22.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) fell 0.6% to $466.22.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;dropped 1.4% to $602.63.</li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) sank 2% to $242.01.</li>



<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLP">XLP</a>) outperformed, up 1%; the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLK">XLK</a>) lagged, down 1.6%.</li>
</ul>



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



<ul class="wp-block-list">
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) down 10.2%</li>



<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TMO">TMO</a>) up 2.0%</li>



<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>) down 2.3%</li>



<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BSX">BSX</a>) up 4.9%</li>



<li>Amphenol Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/APH">APH</a>) up 1.8%</li>



<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXN">TXN</a>) down 6.9%</li>



<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEV">GEV</a>) down 4.0%</li>



<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/COF">COF</a>) up 2.3%</li>



<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CME">CME</a>) up 1.5%</li>



<li>Moody's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MCO">MCO</a>) down 1.1%</li>



<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HLT">HLT</a>) up 4.7%</li>



<li>Westinghouse Air Brake Technologies Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WAB">WAB</a>) down 1.3%</li>



<li>Teledyne Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TDY">TDY</a>) down 2.8%</li>



<li>Northern Trust Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NTRS">NTRS</a>) down 2.4%</li>



<li>NVR Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NVR">NVR</a>) down 1.1%</li>



<li>Lennox International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LII">LII</a>) down 8.4%</li>



<li>Omnicom Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OMC">OMC</a>) up 4.3%</li>



<li>East West Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EWBC">EWBC</a>) up 3.4%</li>



<li>Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MANH">MANH</a>) down 4.6%</li>



<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WAL">WAL</a>) up 2.3%</li>



<li>Agree Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ADC">ADC</a>) up 0.5%</li>



<li>Mattel Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MAT">MAT</a>) down 3.9%</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/10/48361618/tesla-analyst-says-elon-musk-will-be-heavy-on-optimism-and-light-on-truth-for-q3-earnings-call">Tesla Analyst Says Elon Musk Will &#8216;Be Heavy On Optimism And Light On Truth&#8217; For Q3 Earnings Call</a></li>
</ul>



Photo: Lightspring/Shutterstock

Equities

Sector ETFs

Commodities

Econ #s

ETFs

COIN

EWBC

HOOD

ISRG

MANH

MSTR

NFLX

NTRS

SMCI

Tech Stocks Drop, Netflix Sinks 10% On Worst Day Since 2022: What's Moving Markets Wednesday?

A fresh wave of trade tension between the U.S. and China rocked Wall Street on midday Wednesday after President Donald Trump hinted at sweeping restrictions on technology exports powered by American software, sending tech stocks <a href="https://www.benzinga.com/markets">into a sudden tailspin.</a>



 • CRWV is taking a hit from negative sentiment. <a href="https://www.benzinga.com/quote/CRWV" target="_blank" rel="noreferrer noopener">See the full breakdown here.</a>



According to Reuters, the Trump administration is weighing a proposal that would curb a wide range of software-powered exports to China — from laptops to jet engines — in direct response to Beijing's newly announced restrictions on rare earth exports.



The potential measure would restrict global shipments of any products that either contain U.S.-developed software or were manufactured using it.



If adopted, the policy would effectively extend Washington's reach far beyond U.S. borders, targeting global supply chains dependent on American software tools — a category that includes semiconductors, AI processors, aerospace systems and even consumer electronics.



 "Everything imaginable is made with U.S. software," one source told Reuters, underscoring the potentially massive scope of the restrictions.



<h2 class="wp-block-heading">US-China Tech And Trade War: Why Is This Happening?</h2>



The consideration of this export crackdown follows Trump's Oct. 10 post on Truth Social, in which he pledged an additional 100% tariff on Chinese exports to the U.S. and vowed to block all "critical software" exports by Nov. 1.



Trump's post came one day after China dramatically expanded its own export controls on rare earth elements, a category of metals for which Beijing holds more than 80% of the global supply. These elements are essential to the production of everything from electric vehicles to guided missiles and high-performance computing chips.



In what appears to be a tit-for-tat escalation, the U.S. is now mulling a retaliatory move that would mirror the tech export restrictions it placed on Russia following its 2022 invasion of Ukraine.



Sources told Reuters the plan is still under discussion and may not move forward. Officials may use the announcement to increase diplomatic pressure on Beijing ahead of a scheduled meeting between Trump and Chinese President Xi Jinping in Seoul later this month.



If fully implemented, the proposed measure could deliver a serious blow to China's tech sector by cutting off access to the software tools needed to design and produce advanced chips, sensors and digital devices.



<h2 class="wp-block-heading">Markets React</h2>



Markets reacted immediately. The S&amp;P 500 fell 0.6% to below 6,700 points, while the Nasdaq 100 dropped 1.2% to 24,820.



Among the hardest hit were chipmakers and electronic design automation firms, which are tightly linked to software licensing revenues. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMH">SMH</a>) sunk 2.8% for the session. 



Gold, which had plunged more than 2% earlier in the day, rebounded as investors rotated into safe-haven assets on renewed geopolitical risk.



According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a> data, these were the 10 most impacted stocks in the 10 minutes following the breaking news:



<ul class="wp-block-list">
<li>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNPS">SNPS</a>) fell 1.97% to $452.70</li>



<li>Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CDNS">CDNS</a>) dropped 1.54% to $329.94</li>



<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HOOD">HOOD</a>) slid 7.10% to $123.49</li>



<li>ARM Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ARM">ARM</a>) lost 2.97% to $164.36</li>



<li>Alibaba Group Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BABA">BABA</a>) slipped 0.81% to $164.97</li>



<li>Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AMAT">AMAT</a>) declined 3.34% to $218.44</li>



<li>CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CRWV">CRWV</a>) was down 7.75% to $115.37</li>



<li>Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ADI">ADI</a>) fell 2.11% to $241.16</li>



<li>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/KLAC">KLAC</a>) dipped 3.28% to $1,109.75</li>



<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MU">MU</a>) lost 3.93% to $194.35</li>
</ul>



Read Next: <a href="https://www.benzinga.com/news/25/10/48356705/clean-energy-stocks-beat-nvidia-under-trump"> • Trump Wanted Clean Energy Dead — It&#8217;s Crushing Nvidia And AI Instead</a>



Photo Courtesy: Matteo Benegiamo on Shutterstock

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Trump Mulls Tech Export Crackdown On China: These 10 Stocks Are Sinking

Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48350506/netflix-posts-downbeat-earnings-joins-aveanna-healthcare-texas-instruments-and-other-big-stocks-moving-lower-in-wednesdays-pre-market-session">saw shares dip</a> more than 8% during early trading on Wednesday after its third-quarter earnings report on Tuesday. Still, the earnings miss stemmed from a $619 million one-time tax settlement with Brazil, an issue dating back to 2022.



<ul class="wp-block-list">
<li>Track NFLX stock <a href="https://www.benzinga.com/quote/NFLX">here</a>.</li>
</ul>



<h2 class="wp-block-heading">One-Time Tax Issue Clouds Strong Quarter</h2>



Netflix Chief Financial Officer Spence Neumann clarified that the tax issue isn't exclusive to the company, noting it impacts "other global streaming and technology companies operating in Brazil." Excluding this charge, Netflix would have exceeded margin expectations, highlighting that the company's fundamentals — subscriber growth, engagement, and advertising momentum — remain solid.



Direxion's Head of Capital Markets, Jake Behan, points out that the tax settlement is an idiosyncratic bump in the road. "The demand side and top-line trends remain intact," he said, noting that Netflix's $2.6 billion in free cash flow gives it the firepower to continue investing in content, live sports, and global expansion.



Read Also: <a href="https://www.benzinga.com/news/entertainment/25/10/48347397/netflixs-co-ceo-ted-sarandos-cites-taylor-swifts-enduring-popularity-to-explain-why-ai-wont-replace-creativity">Netflix&#8217;s Co-CEO Ted Sarandos Cites Taylor Swift&#8217;s Enduring Popularity To Explain Why AI Won&#8217;t Replace Creativity</a>



<h2 class="wp-block-heading">Strong Content Slate Keeps Viewers Engaged</h2>



Netflix's content strategy is driving engagement across its platform. Hits like &#8220;Squid Game Season 3,&#8221; &#8220;KPop Demon Hunters,&#8221; and the pivot to live programming are keeping the service a must-have globally. The fourth quarter promises further momentum with the final season of &#8220;Stranger Things,&#8221; high-profile directors, and its debut of two NFL games on Christmas Day — marking Netflix's biggest live sports push yet.



Behan notes that Netflix's strategy underscores its evolution from a streaming platform into a comprehensive entertainment provider. Partnerships with Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/HAS">HAS</a>) and Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MAT">MAT</a>) to license KPop Demon Hunters products highlight a growing revenue stream beyond subscriptions and advertising.



<h2 class="wp-block-heading">Market Leadership And Subscriber Base</h2>



Netflix continues to dominate the U.S. streaming landscape with 67.1 million paid subscribers, more than double the number of paid subscribers of its closest competitor, Hulu, at 39 million, according to Leverage Shares on X.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> leads the U.S. streaming market with 67.1M paid subscribers, followed by <a href="https://twitter.com/search?q=%24DIS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DIS</a> platforms at 39M and 36.5M.<a href="https://twitter.com/search?q=%24PARA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PARA</a>, <a href="https://twitter.com/search?q=%24CMCSA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CMCSA</a>, and <a href="https://twitter.com/search?q=%24WBD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBD</a> complete the top six. <a href="https://t.co/f3Ja2fn39V">pic.twitter.com/f3Ja2fn39V</a>&mdash; Leverage Shares ETPs EU (@LeverageShares) <a href="https://twitter.com/LeverageShares/status/1980652849689137154?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Its scale and brand loyalty give it a clear lead over Disney+, Paramount+, and other mid-tier services. While competition remains fierce, Netflix's combination of exclusive content, advertising initiatives, and global reach provides a durable growth foundation.



<h2 class="wp-block-heading">Short-Term Buying Opportunity?</h2>



Traders may see the post-earnings dip as a short-term buying opportunity rather than a signal of structural weakness. With content momentum, growing ad revenue, and strong cash flow, Netflix is positioned to maintain engagement and revenue growth heading into the fourth quarter and 2026. 



The Brazil tax charge is a one-off, and investors are focusing on the bigger picture: a streaming powerhouse still firing on all cylinders.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/entertainment/25/10/48347397/netflixs-co-ceo-ted-sarandos-cites-taylor-swifts-enduring-popularity-to-explain-why-ai-wont-replace-creativity">Netflix&#8217;s Ted Sarandos And Greg Peters Downplay Warner Bros. Discovery Merger Threat: &#8216;We Have Been More Builders Than Buyers&#8217;</a></li>
</ul>



Photo: MartiBstock / Shutterstock.com

Long Ideas

Netflix Slides On Brazil Tax Hit — But Growth Story Remains Intact

Ten months into Donald Trump&#8217;s second term, the sector he's fought hardest to undercut is turning out to be one of the year's most explosive trades on Wall Street—and it's doing <a href="https://www.benzinga.com/topic/artificial-intelligence">better than artificial intelligence.</a>



Despite a White House agenda that includes scrapping clean energy tax credits and halting solar and wind projects on federal lands, investors are doubling down on renewables. 



The Invesco Roundhill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PBW">PBW</a>) is up 44% year-to-date, beating out by about 10 percentage points the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMH">SMH</a>) and even Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>), which is riding the AI wave.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-1024x556.png" alt="" class="wp-image-1125997" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22104817/image-559-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">10 Clean Energy Stocks Soaring Over 140% In 2025</h2>



A look under the holdings of PBW shows that ten stocks have posted triple-digit rallies since January 2025 through Oct. 22:



<ul class="wp-block-list">
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/MP">MP</a>): +338%. A supplier of rare earth materials critical to EVs and wind turbines.</li>



<li>Bloom Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BE">BE</a>): +331%. Specializes in hydrogen and fuel cell power generation systems.</li>



<li>Amprius Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/AMPX">AMPX</a>): +308%. Produces advanced lithium-ion batteries for aviation and EVs.</li>



<li>Navitas Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVTS">NVTS</a>): +289%. Develops next-gen power chips for solar and energy storage.</li>



<li>Eos Energy Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/EOSE">EOSE</a>): +211%. Builds zinc-based grid-scale battery storage systems.</li>



<li>Solid Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SLDP">SLDP</a>): +203%. Focused on solid-state battery technologies for EVs.</li>



<li>SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SEDG">SEDG</a>): +178%. A solar power equipment firm and inverter manufacturer.</li>



<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SLI">SLI</a>): +172%. Developing direct lithium extraction for EV battery supply chains.</li>



<li>QuantumScape Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/QS">QS</a>): +171%. Aiming to commercialize solid-state batteries.</li>



<li>Nextracker Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NXT">NXT</a>): +136%. Designs solar tracker systems to boost solar energy output.</li>
</ul>



<h2 class="wp-block-heading">Trump Called Solar And Wind &#8216;The Scam of the Century&#8217;</h2>



Trump has been vocally hostile toward renewable energy projects, calling them "the scam of the century" and vowing to scrap tax incentives and block new developments on federal lands. 



Still, developers are not slowing down. According to a recent <a href="https://www.nytimes.com/2025/10/14/business/energy-environment/trump-renewable-energy-batteries.html">New York Times report</a>, many clean energy firms are racing to install projects before tax benefits expire or become more difficult to claim.



And that urgency is creating a near-term boom.



The U.S. is expected to add record—or near-record—amounts of renewable capacity through 2027. The Energy Information Administration estimates that 93% of the new capacity added to the U.S. grid this year will come from renewable sources and batteries.



"We have never seen this kind of demand, ever," said Sandhya Ganapathy, CEO of EDP Renewables North America.



<h2 class="wp-block-heading">$2.2 Trillion Says This Isn't Just A Fad</h2>



According to Bank of America Securities, global investment in clean tech is expected to reach $2.2 trillion in 2025, accounting for two-thirds of all energy spending. That includes renewables, grids, storage and nuclear power.



The International Energy Agency (IEA) expects electricity's share of final energy use to jump from 20% today to at least 30% by 2050, driven by electrified transport, industrial decarbonization and smart infrastructure. 



With clean energy now absorbing two-thirds of global energy capital flows, the transition is no longer a climate trend—it's the defining investment cycle of the coming decade. 



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/10/48315585/donald-trump-drill-baby-drill-energy-oil-gas-renewables-crude-prices-today-xle-etf">Trump&#8217;s &#8216;Drill Baby Drill&#8217; Plan Just Backfired—Oil Stocks Haven&#8217;t Been This Cheap In Years</a></li>
</ul>



Photo: Shutterstock

AMPX

EOSE

NVDA

NVTS

SEDG

SLDP

Trump Wanted Clean Energy Dead—It's Crushing Nvidia And AI Instead

OpenAI grabs headlines with a staggering $500 billion private valuation, but Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PLTR">PLTR</a>) offers investors a tangible, revenue-backed way to play the AI boom — albeit <a href="https://www.benzinga.com/markets/tech/25/08/47206671/at-412-billion-palantir-is-valued-like-it-invented-time-travel">at lofty multiples</a>.



<ul class="wp-block-list">
<li>Track PLTR stock <a href="https://www.benzinga.com/quote/PLTR">here</a>.</li>
</ul>



While OpenAI projects $13 billion in current-year revenue and roughly <a href="https://finance.yahoo.com/news/openai-cfo-we-will-more-than-triple-our-revenue-this-year-213816957.html">3x</a> growth, it remains private and inaccessible to most investors. Palantir, by contrast, is public, generating $4.16 billion in sales at 45% growth, with enterprise and government clients already using its AI-driven platforms. 



That combination of real revenue, recurring contracts, and public accessibility gives Palantir a concrete presence in AI — though its stock currently trades at high valuation multiples, reflecting market expectations for continued AI dominance.



Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/10/48137168/paypals-quiet-ai-comeback-could-it-be-powering-openais-shopping-push">PayPal&#8217;s Quiet AI Comeback — Could It Be Powering OpenAI&#8217;s Shopping Push?</a>



<h2 class="wp-block-heading">Revenue Vs. Hype: Why Public Matters</h2>



OpenAI dominates conversations, but Palantir converts AI buzz into contracts. Its Foundry and AIP platforms leverage proprietary enterprise and government data, creating a defensible AI moat. 



Yet investors should note that much of the excitement is already priced in, and the stock's current multiples (605.03) leave little room for error.



<h2 class="wp-block-heading">Growth That's Visible, Not Just Valuation</h2>



Palantir's 45% growth may lag OpenAI's projected 3x, but it comes with transparency. Public filings reveal recurring revenue and cash flow, allowing investors to measure AI exposure. 



Still, the combination of high valuation and ambitious growth expectations means gains may be tempered if growth slows or contracts don't expand as expected.



<h2 class="wp-block-heading">The Underdog Case — With A Caution</h2>



In the AI arms race, hype dominates headlines. Palantir is the underdog in terms of public awareness, offering real-world AI adoption and monetization that investors can access. But with sky-high multiples reflecting lofty expectations, it's a stock that rewards precision and patience — not blind optimism. 



For those weighing AI exposure, Palantir is a revenue-backed, publicly tradable option — but the cautionary note on valuation makes it a smart, measured bet rather than a no-brainer winner.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48209516/rigetti-could-be-palantir-2-0-quantums-defense-first-disruptor">Rigetti Could Be Palantir 2.0 — Quantum&#8217;s Defense-First Disruptor</a></li>
</ul>



Image: Shutterstock

PLTR

Palantir Vs. OpenAI: The AI Underdog That Might Be The Smarter Bet

AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/10/n48348326/at-t-reports-strong-third-quarter-financial-performance" rel="noreferrer noopener">announced financial results</a> for its&nbsp;fiscal third quarter&nbsp;of 2025 on Wednesday.



<ul class="wp-block-list">
<li>T shares are showing limited movement. <a href="https://www.benzinga.com/quote/T" target="_blank" rel="noreferrer noopener">See what the experts say here</a></li>
</ul>



The telecom giant reported operating revenues of $30.71 billion, representing a 1.6% increase compared to the same period last year, which fell short of the analyst consensus estimate of $30.87 billion.



Adjusted earnings per share (EPS) stood at $0.54, in line with the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a>.



The results were primarily driven by higher revenues from Mobility, Consumer Wireline, and&nbsp;Mexico, partially offset by a decline in Business Wireline.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/09/47642797/att-joins-forces-with-gigs-to-launch-embedded-phone-plans" rel="noreferrer noopener">AT&amp;T Joins Forces With Gigs to Launch Embedded Phone Plans</a>



AT&amp;T attracted more wireless subscribers than analysts anticipated in the third quarter, fueled by bundled offers and aggressive promotions tied to the new Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) iPhone launch, CNBC <a target="_blank" href="https://www.cnbc.com/2025/10/22/att-t-q3-earnings.html" rel="noreferrer noopener">reports</a> Wednesday.



The September-ending quarter is a key period for U.S. wireless providers, as competition intensifies around Apple's annual iPhone release.



To capture new customers and prompt upgrades to higher-tier plans, AT&amp;T rolled out attractive iPhone 17 promotions and encouraged subscriptions to multiple services by offering discounts on combined wireless and fiber broadband packages.



Over 41% of fiber households also added mobile plans. AT&amp;T reported 405,000 postpaid phone net additions, an increase from 403,000 in the prior year.



AT&amp;T's postpaid phone churn, a measure of customer attrition, increased to 0.92% from 0.78% the previous year, while prepaid churn rose to 2.82% from 2.73%. Despite this, the postpaid phone-only Average Revenue Per User (ARPU) declined by 0.8% year-over-year to $56.64.



In its Consumer Wireline segment, AT&amp;T continued to expand its fiber optic footprint, adding 288,000 AT&amp;T Fiber net subscribers and 270,000 AT&amp;T Internet Air net additions.



<h2 class="wp-block-heading">Financial Highlights</h2>



Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to $11.9 billion from $11.6 billion in the year-ago quarter. The company's net income rose to $9.7 billion (including a&nbsp;$5.5 billion&nbsp;gain on the sale of the DIRECTV investment), versus&nbsp;$0.1 billion&nbsp;in the year-ago quarter (which included a&nbsp;$4.4 billion&nbsp;non-cash goodwill impairment).



Operating cash flow reached $10.15 billion compared to $10.24 billion in the same quarter last year, contributing to a free cash flow of $4.87 billion, up from $4.60 billion. Capital expenditures for the quarter were $4.89 billion.



Looking at segment performance, the Mobility segment's operating income grew 1.7% year-over-year to $7.13 billion, maintaining a margin of 32.8%, down from 33.3% a year ago.



The Consumer Wireline segment showed significant improvement, with its operating margin expanding to 9.1% from 5.7%.



Conversely, the Business Wireline segment reported an operating margin loss of (8.3)%, a decline from a (0.9)% margin in the previous year.



Overall, the company's operating income was $6.1 billion, compared to $2.1 billion in the same quarter last year.



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



AT&amp;T reiterated its full-year <a target="_blank" href="https://www.benzinga.com/markets/earnings/25/07/46570015/atts-discount-bundles-fuel-subscriber-gains-tax-savings-to-supercharge-fiber-expansion" rel="noreferrer noopener">2025 financial outlook</a>, anticipating consolidated service revenue growth in the low-single-digit range. The company reaffirmed its outlook for a 3% or more increase in Mobility service revenue.



The company maintained a Consumer fiber broadband revenue growth outlook of mid-teens, and adjusted EPS of $1.97-$2.07, aligning with the <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst&nbsp;consensus estimate</a> of $2.06.



The company reaffirmed its long-term financial targets, including a low-single-digit annual growth rate for consolidated service revenue in 2026 and 2027, an adjusted EBITDA growth outlook of at least 3% annually over the same period, and adjusted EPS double-digit growth by 2027.



AT&amp;T maintained annual capital investments of $23 billion-$24 billion from 2026 to 2027 and free cash flow of above $18 billion in 2026 and over $19 billion in 2027.



Price Action: AT&amp;T shares were up 0.92% at $26.29 during premarket trading on Wednesday, <a target="_blank" href="https://www.benzinga.com/pro/" rel="noreferrer noopener">according to Benzinga Pro data</a>.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46281768/telecom-stocks-are-no-longer-one-size-fits-all-analyst-says-heres-which-company-stands-out" target="_blank" rel="noreferrer noopener">Telecom Stocks Are No Longer One-Size-Fits-All, Analyst Says — Here's Which Company Stands Out</a></li>
</ul>



Photo by Jason Taylor AG via Shutterstock

Media

AAPL

AT&T Gains Wireless Subscribers As iPhone Promotions Fuel Growth

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) Board of Directors Chair, Robyn Denholm, has criticized proxy advisory firms like International Shareholder Services (ISS) and Glass Lewis for opposing CEO Elon Musk's <a href="https://www.benzinga.com/markets/tech/25/10/48291450/elon-musk-pay-deal-faces-pushback-as-iss-tells-tesla-investors-to-vote-against-1-trillion-package">new compensation award</a>, which could make him a trillionaire.



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



<h2 class="wp-block-heading">‘One-Size-Fits-For-All' Approach Is Misguided, Says Robyn Denholm</h2>



In a <a href="https://x.com/tesla/status/1980679025388581282?s=46">post</a> on the social media platform X on Tuesday, Tesla's official handle shared the letter Denholm penned to investors of the company in an attempt to defend Musk's pay package and "set the record straight," calling the recommendations of the proxy advisory firms "misguided."



"ISS and Glass Lewis evaluate all companies and all proposals using the same simplistic, one-size-fits-all framework," Denholm said in the letter, adding that advisory firms are "fundamentally unable" to correctly evaluate Tesla, which challenges "the status quo."



"I encourage you to ignore ISS's and Glass Lewis's advice for this year's Annual Meeting and vote with the Board's <a href="https://www.benzinga.com/markets/tech/25/09/47812065/tesla-urges-shareholders-to-vote-in-favor-of-1-trillion-ceo-compensation-package-for-elon-musk">recommendations on all proposals</a>," Denholm said.



She then went on to address queries about the package, adding that Musk would be paid nothing "unless shareholders enjoy exceptional investment returns," and that Musk would secure additional voting rights "if he delivers on bold market capitalization and operational goals."



It's worth noting that Musk had previously expressed worries regarding voting rights, saying that the compensation package wasn't about money; it was about <a href="https://www.benzinga.com/markets/tech/25/09/47834195/elon-musk-says-the-upcoming-shareholder-vote-isnt-about-compensation-if-i-can-just-get-kicked-out">retaining control over</a> the EV giant.



Also addressing issues regarding relatively easy milestones in the package, which <a href="https://www.benzinga.com/markets/tech/25/10/48120311/elon-musk-may-still-reap-billions-from-teslas-trillion-dollar-pay-package-even-without-meeting-goals-report">could give Musk billions of dollars</a> even if he failed to reach all the goals laid down in the package, she said that Musk would need to "lead Tesla to $400 billion in Adjusted EBITDA – which means growing our current Adjusted EBITDA by ~26x," reiterating that there were no easy milestones.



"If you prefer that Tesla turn into just another car company mired in the ways of the past, then you should follow ISS and Glass Lewis," Denholm said, appealing to the investors to vote yes on all the board's recommendations if they <a href="https://www.benzinga.com/markets/tech/25/09/47734230/tesla-chair-robyn-denholm-calls-elon-musk-once-in-a-generation-visionary-in-new-message-to-shareholders-elon-only-gets-compensated">believed in Musk's leadership</a>.



<h2 class="wp-block-heading">Experts Weigh In On The Pay Package Row</h2>



The letter comes as experts have also weighed in on their views regarding the pay package. Gerber Kawasaki's co-founder, Ross Gerber, recently took to social media to <a href="https://www.benzinga.com/markets/tech/25/10/48345724/ross-gerber-calls-elon-musks-pay-packet-insanity-questions-whether-anyone-on-tesla-board-negotiated-the-trillion-dollar-salary">criticize the compensation award</a>, calling it "insanity" and questioning the independence of Tesla's Board.



Meanwhile, Cathie Wood, CEO of ARK Invest and Tesla Bull, <a href="https://www.benzinga.com/markets/tech/25/10/48296957/cathie-wood-says-elon-musks-new-tesla-pay-package-will-win-decisively-despite-opposition-sad-if-not-damning">defended the compensation award</a> and criticized ISS for its opposition to the package. She also said that Musk's package would "decisively win" at the shareholder meeting.&nbsp;



Elsewhere, Future Fund LLC's <a href="https://www.benzinga.com/markets/tech/25/10/48346457/gary-black-expects-overwhelming-approval-for-elon-musks-trillion-dollar-pay-package-amid-proxy-advisor-opposition">managing director, Gary Black</a>, as well as Wedbush Securities' investor Dan Ives, both shared that they expect the new pay package <a href="https://www.benzinga.com/markets/tech/25/10/48295413/dan-ives-says-robotaxi-rollout-across-us-xai-investment-and-elon-musks-pay-packet-will-be-major-focus-of-tesla-earnings-call">to receive approval</a> from Tesla's shareholders.



<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="197" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1024x197.jpg" alt="" class="wp-image-1125228" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1024x197.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-768x148.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2-1536x296.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22051741/TSLA-OCT-22-2025-2.jpg 1562w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



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



Read Next:



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



Photo courtesy: Shutterstock

Tesla Board Chair Robyn Denholm Criticizes Proxy Advisors' 'One-Size-Fits-All' Approach To Elon Musk's $1 Trillion Pay Package

U.S. stock futures are inching lower on Wednesday, following a mixed session on Tuesday, with major benchmark indices in the red pre-market.



This comes amid President Donald Trump <a href="https://www.benzinga.com/markets/asia/25/10/48345038/trump-says-he-spoke-with-narendra-modi-on-diwali-calls-indian-pm-a-great-friend-amid-tariff-tensions">hinting at a de-escalation</a> in the tariff situation with India, following his conversation with Indian Prime Minister Narendra Modi. Trump called Modi &#8220;a great person&#8221; and &#8220;a great friend of mine over the years,&#8221; while addressing the media from the Oval Office on Tuesday.



See Also: <a href="https://www.benzinga.com/markets/asia/25/10/48345038/trump-says-he-spoke-with-narendra-modi-on-diwali-calls-indian-pm-a-great-friend-amid-tariff-tensions">Trump Says He Spoke With Narendra Modi On Diwali: Calls Indian PM &#8216;A Great Friend&#8217; Amid Tariff Tensions</a>



Investors on Wednesday will be closely watching the earnings results of several prominent companies, such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>), SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SAP">SAP</a>) and International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>), among several others.



Meanwhile, the 10-year Treasury bond yielded 3.957% and the two-year bond was at 3.449%. The CME Group's FedWatch&nbsp;<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noreferrer noopener">tool</a>‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.0042%</td></tr><tr><td>S&amp;P 500</td><td>0.030%</td></tr><tr><td>Nasdaq 100</td><td>-0.19%</td></tr><tr><td>Russell 2000</td><td>-0.40%</td></tr></tbody></table></figure>



The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SPY">SPY</a>) and&nbsp;Invesco QQQ Trust ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, are up in premarket on Wednesday. The SPY is up 0.09% at $671.92, while the QQQ is up 0.01%, trading at $611.43, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Tesla, IBM, SAP Earnings In Focus &#x7C; Stock Market News Today &#x7C; Oct 22, 2025" width="500" height="281" src="https://www.youtube.com/embed/3VE0AchK7AQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



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



<h3 class="wp-block-heading">Tesla</h3>



<ul class="wp-block-list">
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) shares are up 0.07% overnight, ahead of the company&#8217;s much-anticipated third-quarter results after markets close on Thursday. </li>



<li>The stock scores high in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, the company, its finances and operations. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-1024x149.png" alt="" class="wp-image-1125050" style="width:715px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22031441/Screenshot-2025-10-22-at-12.44.19-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">SAP SE</h3>



<ul class="wp-block-list">
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SAP">SAP</a>), the German software giant, is set to release its third-quarter results after markets close on Wednesday. The stock is currently down 1.74% in overnight trade. </li>



<li>The stock scores high on Momentum and Quality in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-1024x149.png" alt="" class="wp-image-1125156" style="width:715px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043353/Screenshot-2025-10-22-at-2.03.41-PM.png 1522w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">International Business Machines Corp</h3>



<ul class="wp-block-list">
<li>IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IBM">IBM</a>) shares are up 0.22% in overnight trade, ahead of the company&#8217;s third-quarter results after markets close on Wednesday. </li>



<li>The stock scores poorly in Benzinga&#8217;s Edge Stock Rankings, but does well on Quality, and has a favorable price trend in the short, medium and long-term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for more insights into the stock, the company, its operations and finances.</li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-1024x149.png" alt="" class="wp-image-1125162" style="width:708px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22043948/Screenshot-2025-10-22-at-2.09.40-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">Thermo Fischer Scientific</h3>



<ul class="wp-block-list">
<li>Thermo Fischer Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TMO">TMO</a>) is rallying by 2.17% in overnight trade, just hours before the company&#8217;s third-quarter results, before markets open on Wednesday. </li>



<li>According to Benzinga&#8217;s Edge Stock Rankings, the stock does poorly on most metrics, but has a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, alongside various other facts and figures. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-1024x148.png" alt="" class="wp-image-1125164" style="width:713px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044451/Screenshot-2025-10-22-at-2.14.38-PM.png 1532w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">AT&amp;T </h3>



<ul class="wp-block-list">
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/T">T</a>) shares are up 0.23% pre-market, ahead of the company&#8217;s third-quarter earnings release on Wednesday morning, before markets open. </li>



<li>The stock does poorly across the board in Benzinga&#8217;s Edge Stock Rankings, with an unfavorable price trend in the short, medium and long-term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors. </li>
</ul>



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-1024x149.png" alt="" class="wp-image-1125165" style="width:708px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22044829/Screenshot-2025-10-22-at-2.18.18-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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



The markets had a fairly mixed performance on Tuesday, with no clear trend visible across most sectors or indices throughout the day.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>+0.16%</td><td>22,953.67</td></tr><tr><td>S&amp;P 500</td><td>+0.003%</td><td>6,735.35</td></tr><tr><td>Dow Jones</td><td>+0.47%</td><td>46,924.74</td></tr><tr><td>Russell 2000</td><td>+0.49%</td><td>2,487.69</td></tr></tbody></table></figure>



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



According to The Kobeissi Letter on X, foreign investors have been pouring into U.S.-listed stocks in recent months, with the figure touching $22 billion &#8220;so far in October,&#8221; which it says is the highest since June, according to data by Goldman Sachs. 



The post notes that this is the &#8220;3rd consecutive monthly inflow,&#8221; with the year-to-date figure at a net $316 billion. According to the post, &#8220;foreign holdings of US equities rose to a record $20 trillion last quarter,&#8221; concluding that &#8220;Everyone wants to enter the US stock market.&#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">Foreign investors are piling into US stocks: Non-US investors have bought +$22 billion of US stocks so far in October, the most since June, according to Goldman Sachs estimates. This marks the 3rd consecutive monthly inflow. Year-to-date, foreign investors have acquired +$316… <a href="https://t.co/JWeiWfXnUe">pic.twitter.com/JWeiWfXnUe</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1980775555462013152?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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



Investors on Wednesday will be keeping an eye on the following events,



<ul class="wp-block-list">
<li>Fed Governor&nbsp;Michael Barr is set to give a speech at 4 P.M. on Wednesday.</li>
</ul>



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



Crude oil futures are trading up in the early New York session by 1.87% hovering around $58.31 per barrel.



Gold Spot US Dollar is down 0.90%, hovering around $4,087.97 per ounce. Its last record high stood at $4,379.29 per ounce. The U.S. Dollar Index spot was up 0.07% at 99.001.



Meanwhile, Bitcoin is trading 0.05% lower at $108,327.80 per coin.



Most Asian markets are in the red on Wednesday, barring India&#8217;s Nifty 50, South Korea&#8217;s KOSPI and Singapore&#8217;s Straits Times Index. Australia&#8217;s ASX 200 and New Zealand&#8217;s NZX 50 are down as well, with European markets too primarily in the red, with a few exceptions being London&#8217;s FTSE and Spain&#8217;s IBEX.



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/10/48346805/att-netflix-and-3-stocks-to-watch-heading-into-wednesday">AT&amp;T, Netflix And 3 Stocks To Watch Heading Into Wednesday</a></li>
</ul>



Photo courtesy: Shutterstock

Market Summary

Pre-Market Outlook

Stock Market Today: Dow Jones, Nasdaq Futures Inch Lower—Tesla, SAP And IBM In Focus

China has emerged as a major force behind the recent <a href="https://www.benzinga.com/news/25/09/47890930/gold-market-outlook-technical-analysis-september-bank-of-america-goldman-sachs">surge in gold prices</a>, with its growing influence projected to surpass even that of the U.S. dollar, according to a top economist.



<h2 class="wp-block-heading">China Buys Up Gold</h2>



&#8220;China is playing a key role in the ongoing rise in gold prices because of central bank buying, arbitrage trading, and increased speculative and safe-haven demand among Chinese households,&#8221; Torsten Slok, the chief economist at Apollo Global Management, said on his blog The Daily Spark.



Slok suggested that in the face of global macroeconomic uncertainty, it is likely that central banks worldwide will soon hold more gold than U.S. dollars, the current global reserve currency.



See Also: <a href="https://benzinga.com/markets/tech/25/10/48345235/elizabeth-warren-warns-one-of-trumps-billionaire-buddies-wants-to-buy-warner-bros-warns-giant-compan" target="_blank" rel="noreferrer noopener">Elizabeth Warren Warns One Of Trump&#8217;s &#8216;Billionaire Buddies&#8217; Wants To Buy Warner Bros, Warns Giant Company Could Control &#8216;Everything&#8217; You Watch On TV</a>



His comments echo similar observations about China&#8217;s increasing influence in the gold market. 



Last week, Steve Schoffstall, Director, ETF Product Management at Sprott Asset Management, <a href="https://www.benzinga.com/partner/commodities/25/10/48262186/sprott-asset-managements-director-of-etfs-talks-to-benzinga-about-why-gold-miners-are-shining">told </a>Benzinga: &#8220;Countries view gold as a way to get around economic sanctions.&#8221;



Venture capitalist&nbsp;Chamath Palihapitiya&nbsp;previously noted that China&#8217;s <a href="https://www.benzinga.com/markets/commodities/25/10/48116933/chinas-relentless-gold-buying-spree-signals-rising-uncertainty-in-the-world-says-chamath-palihapitiya-hedging-against-dollar-risk">relentless gold buying </a>reflects a significant shift in global sentiment, with both governments and individuals seeking to hedge against mounting geopolitical and economic risks.



In July, it was reported that China&#8217;s central bank <a href="https://www.benzinga.com/markets/commodities/25/07/46466814/china-has-been-stockpiling-gold-analysts-say-actual-reserves-may-be-double-a-threat-to-the-us-dollar">has been quietly amassing</a> gold reserves since 2022, a move that could have significant implications for the global economy, particularly the U.S. dollar.



<h2 class="wp-block-heading">Gold Miners Hit Sharp Sell-Off</h2>



The recent surge in gold prices past $4,000 per ounce has been highly beneficial for gold miners, with spot prices up nearly 50% year-to-date. Market veteran Ed Yardeni has <a href="https://www.benzinga.com/markets/commodities/25/10/48043500/gold-price-forecasts-2026-5000-4000-record-highs-yardeni">raised his outlook </a>significantly and stated that gold prices could hit $5,000 by 2026 and $10,000 by 2030.



However, this trend took a sharp turn on Tuesday, with gold miners experiencing a<a href="https://www.benzinga.com/markets/equities/25/10/48339524/gold-selloff-tuesday-miners-mining-stocks-to-watch-buy-the-dip"> significant sell-off </a>following a plunge of over 5% in bullion prices in a single session. The spot price is still above $4,100 per ounce.



VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>) plunged 9.42%, while shares of Newmont Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/quote/nem">NEM</a>), the world&#8217;s largest gold miner, also fell 9.03%, as per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



READ NEXT:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/10/48335906/gold-overtakes-stocks-as-investor-favorite-massive-etf-inflows-signaled-market-jitters-last-week">Gold Overtakes Stocks As Investor Favorite — Massive ETF Inflows Signaled Market Jitters Last Week </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.

Politics

China's Gold Binge May Eclipse US Dollar, Says Top Economist

With Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TSLA">TSLA</a>) expected to release its third-quarter results on Wednesday after markets close, leading analysts are making their predictions and weighing in on the company&#8217;s prospects. 



TSLA is facing resistance from sellers. <a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">Get the details here</a>.



<h2 class="wp-block-heading">Tesla To Beat Consensus Estimates</h2>



According to prominent Tesla analyst Troy Teslike, the EV giant is set to beat analyst consensus estimates across the board during its third-quarter results. 



On Tuesday, in a post on X, Teslike, who is known for accurate outlooks and predictions on Tesla&#8217;s performance, forecasted a Non-GAAP earnings per share of $0.66, against consensus estimates at $0.59 per share. They expect the company to generate $28.4 billion in revenue, which was again ahead of analyst consensus at $27.3 billion. 



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



The only metric where Teslike&#8217;s projections trail other analysts is gross margins, where they expect 17.2%, which is below others at 17.3%. 



<figure class="wp-block-embed aligncenter 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">Hi everyone. Here's my detailed calculation for Tesla's Q3 2025 earnings: Non-GAAP EPS: • My Estimate: $0.66 • Analyst Consensus: $0.59 The last two columns show my estimate and the analyst consensus. Tesla will report the actual numbers tomorrow, October 22, after market… <a href="https://t.co/4NZ1EeqEHd">pic.twitter.com/4NZ1EeqEHd</a>&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1980735448298205643?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Markets &#8216;Got A Little Too Carried Away&#8217; By The Robotaxi Hype</h2>



Morningstar&#8217;s Senior Equity Analyst Seth Goldstein, who maintains a sell rating on the stock, believes the market may be pricing in too much too soon. 



&#8220;We think the market&#8217;s got a little too carried away with enthusiasm for the robotaxi,&#8221; Goldstein said, speaking on CNBC&#8217;s Closing Bell Overtime on Tuesday. 



He said that he was skeptical of a full robotaxi launch this year, adding that it was unlikely that it &#8220;will be launched without safety drivers in the car and without any parameters or geo-fencing.&#8221;



Goldstein pointed out that Tesla's autonomous vehicle technology is &#8220;still a few years away because the product&#8217;s in early testing.&#8221; The stock, however, appears to be assuming that Tesla will &#8220;surpass Waymo&#8221; and &#8220;start to take some of Uber and Lyft&#8217;s market share.&#8221;



While reiterating his &#8220;Sell&#8221; rating on the stock, Goldstein acknowledged that &#8220;there&#8217;s a lot to like about Tesla,&#8221; citing optimism around long-term developments like Optimus humanoid robots and the company's battery business.



<figure class="wp-block-embed aligncenter 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">&#x1f6a8; MORNINGSTAR ANALYST ISSUES SELL RATING ON <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> AHEAD OF EARNINGS • Seth Goldstein from Morningstar doubts Tesla's robotaxi will fully launch next year without safety drivers or geo-fencing. • Skeptical of market enthusiasm, believes Tesla's stock is overvalued due to… <a href="https://t.co/lk4Urilyrb">pic.twitter.com/lk4Urilyrb</a>&mdash; Tsla Archive (@tesla_archive) <a href="https://twitter.com/tesla_archive/status/1980810372799164771?ref_src=twsrc%5Etfw">October 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">&#8216;Tesla Is Heading To $900&#8217; Within A Year</h2>



Long-time Tesla bull, Tom Nash, made a bold prediction on Tuesday, saying that the company&#8217;s stock could more than double from its current levels, heading to $900 per share within &#8220;6 to 12 months at most.&#8221;



&#8220;The bottom line is quite simple. Tesla is heading to $900 per share,&#8221; Nash said in his new video, adding that &#8220;It's going to get there whether you like it or not. And it's going to get there a lot sooner than most people realize.&#8221;



He cited several Tesla growth drivers to justify his target, such as &#8220;AI, FSD [full self-driving], robo taxi, energy, and obviously robotics,&#8221; claiming the company is placing itself &#8220;as the leading gold standard in each of the most important secular trends we're going to experience over the next decade.&#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"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> is going to $900 (much sooner than most realize) <a href="https://t.co/3xAeLCvxNw">pic.twitter.com/3xAeLCvxNw</a>&mdash; Tom Nash (@iamtomnash) <a href="https://twitter.com/iamtomnash/status/1980718054230081777?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Shares of Tesla were down 1.08% on Tuesday, closing at $442.60, but are up 0.32% in overnight trade, ahead of the company&#8217;s third-quarter results. The stock scores well in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights on the stock, its peers and competitors.



<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-1024x149.png" alt="" class="wp-image-1124870" style="width:701px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/22013343/Screenshot-2025-10-22-at-11.03.34-AM.png 1524w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48296385/tesla-investor-ross-gerber-says-super-sad-to-see-federal-ev-subsidies-end-credits-created">Tesla Investor Ross Gerber Says &#8216;Super Sad&#8217; To See Federal EV Subsidies End: &#8216;Credits Created&#8230;&#8217;</a></li>
</ul>



Photo Courtesy: DANIEL CONSTANTE from Shutterstock

Tesla's Q3 Results Divides Analysts: Tom Nash Says Stock Is Going To $900 In 12 Months 'At Most'

On Tuesday, Gene Munster weighed in on OpenAI's <a href="https://www.benzinga.com/trading-ideas/movers/25/10/48336489/alphabet-stock-falls-after-openai-unveils-chatgpt-atlas">launch of the</a> ChatGPT Atlas browser, calling it promising but cautioning that Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOG">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/GOOGL">GOOGL</a>) Google Chrome's dominance remains intact.



<h2 class="wp-block-heading">OpenAI Launches ChatGPT Atlas in Browser Wars</h2>



OpenAI unveiled ChatGPT Atlas, an AI-powered web browser built around its popular chatbot, directly challenging Google Chrome.



The browser allows users to summarize content, compare products and analyze data, while its paid "agent mode" can interact with websites to complete tasks automatically, from researching trips to shopping online.



<h2 class="wp-block-heading">Gene Munster's Take: Exciting, But Not Revolutionary</h2>



Munster, managing partner at Deepwater Asset Management, commented on the launch, saying, "Good news for $GOOG. While the Atlas browser is a step forward, especially around agents, it's not 10x better than Chrome."



He went on to add that "Google can (and will) copy these features quickly." Following which, it will be difficult for OpenAI's Atlast to gain a share of the market.



"I'm a fan of what OpenAI is building and believe Google will be fine," he stated.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/10/48091979/nvidia-reportedly-bets-2-billion-on-elon-musks-xai-and-its-own-gpus-will-fuel-colossus-2-gigawatt-scale-ai-supercluster" target="_blank" rel="noreferrer noopener">Nvidia Reportedly Bets $2 Billion On Elon Musk's xAI — And Its Own GPUs Will Fuel ‘Colossus 2′ Gigawatt-Scale AI Supercluster</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good news for <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a>. While the Atlas browser is a step forward, especially around agents, it's not 10x better than Chrome. Google can (and will) copy these features quickly, making it harder for Atlas to gain share. I'm a fan of what OpenAI is building and believe Google will be…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1980688309878997088?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Prior to Atlas's launch, Munster questioned why Google pays Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AAPL">AAPL</a>) $20 billion annually to be Safari's default search engine. "Because the browser is the gateway to search."



He said the real test for OpenAI will be turning its 800 million weekly ChatGPT users into active browser users. "If OpenAI can parlay its 800M weekly users into browser users, then Google will have its work cut out."



<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">Wonder why <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> pays <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> $20B a year to be the default search engine in Safari? Because the browser is the gateway to search. GOOG is down 3.4% today (Nasdaq is flat) in anticipation of OpenAI's browser announcement at 10 a.m. PT. I'll be most focused on distribution. If…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1980666674123866514?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Google&#8217;s Share Price Fell And Then Gained Some</h2>



Following the launch, Alphabet shares fell 2.37% for Class A and 2.21% for Class C. Class A shares were up 1.95% while Class C shares were up 1.93% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



Atlas is the newest player in the competitive AI browser space, alongside Perplexity's Comet, Brave Browser and Opera's Neon.



Despite the new challenge, Chrome maintains 71.77% of the global browser market, according to Statcounter. Google has also integrated its Gemini AI into the browser to <a href="https://www.benzinga.com/markets/tech/25/09/47754957/sundar-pichai-declares-next-chrome-era-as-google-bakes-gemini-ai-into-its-web-browser-roll-out-to-target-mac-windows-and-mobile-devices">offer AI summaries</a> and chatbot-like responses.



Benzinga's Edge Stock Rankings indicate that GOOGL demonstrates a robust trend over short, medium and long-term timeframes, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">with a complete performance breakdown available here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21214521/Screenshot-2025-10-22-at-7.12.53%E2%80%AFAM.png" alt="" class="wp-image-1124684"/></a></figure>



Read More:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/10/48092929/nvidia-ceo-jensen-huang-says-intel-spent-33-years-trying-to-kill-us-but-now-calls-the-chip-rival-a-partner-were-lovers-not-fighters" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Says Intel Spent 33 Years ‘Trying To Kill Us' But Now Calls The Chip Rival A Partner: ‘We're Lovers, Not Fighters'</a></li>
</ul>



Photo by JHVEPhoto via Shutterstock



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

GOOG

GOOGL

Gene Munster Says Google Will Be 'Fine' As OpenAI Will Find It Hard To Gain Market Share With New Atlas Browser For This Reason

President Donald Trump said that he spoke with Indian Prime Minister Narendra Modi on the occasion of Diwali, while celebrating the Hindu festival in the White House on Tuesday. 



<h2 class="wp-block-heading">Modi Is &#8216;A Great Friend of Mine&#8217;</h2>



While extending Diwali greetings to the people of India, Trump said he had &#8220;a great conversation&#8221; with Modi, describing him as &#8220;a great person&#8221; and &#8220;a great friend of mine over the years.&#8221; He noted that their discussion touched on several topics, but was mostly focused on trade.



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/10/48295327/trump-warns-supreme-court-tariff-ruling-could-literally-destroy-the-us-well-be-struggling-for-years">Trump Warns US Would Be &#8216;Struggling For Years&#8217; If Supreme Court Strikes Down Tariffs: &#8216;Don&#8217;t Want To Even Think About It&#8217; (CORRECTED)</a>



Trump reiterated his involvement in the recent conflict between India and Pakistan. He said, &#8220;We did talk a little while ago about let&#8217;s have no wars with Pakistan,&#8221; adding, &#8220;And we have no war with Pakistan and India. That was a very, very good thing.&#8221;



<figure class="wp-block-embed aligncenter 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/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>: &quot;Let me also extend our warmest wishes to the people of India. I just spoke to your Prime Minister <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> today. We had a great conversation&#8230; he's a great person, and he's become a great friend of mine over the years.&quot; <a href="https://t.co/Q0HpT0Fcor">pic.twitter.com/Q0HpT0Fcor</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1980736263511765091?ref_src=twsrc%5Etfw">October 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



India has, however, <a href="https://www.benzinga.com/news/politics/25/06/46043222/pakistan-will-nominate-genuine-peacemaker-trump-for-nobel-peace-prize">pushed back against</a> this narrative, maintaining its stance that the ceasefire with Pakistan was the result of a mutual military agreement, and not foreign mediation. 



In a Presidential message on Diwali, Trump wished all Americans celebrating the &#8220;Festival of Lights&#8221; with serenity, prosperity, hope and peace, shared by White House Press Secretary Karoline Leavitt on X.



<figure class="wp-block-embed aligncenter 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">Presidential Message on Diwali &quot;To every American celebrating Diwali, may this observance bring abiding serenity, prosperity, hope, and peace.&quot; &#8211; <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://t.co/QoVAc7JEs9">https://t.co/QoVAc7JEs9</a>&mdash; Karoline Leavitt (@PressSec) <a href="https://twitter.com/PressSec/status/1980309721392484376?ref_src=twsrc%5Etfw">October 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Not Happy With India Buying Russian Oil</h2>



This comes amid ongoing trade negotiations between the two nations, with the U.S. <a href="https://www.benzinga.com/markets/asia/25/08/46908150/trump-tariffs-india-russian-oil-imports-2025">imposing 50% tariffs</a> on imports from India since August, a move aimed at curbing the nation&#8217;s crude oil purchases from Russia. 



Last week, Trump said, &#8220;I was not happy that India was buying oil. And he [Modi] assured me today that they will not be buying oil from Russia,&#8221; which he referred to as a &#8220;big step&#8221; in the <a href="https://www.benzinga.com/markets/asia/25/10/48241995/trump-says-he-wasnt-happy-india-was-buying-russian-oil-and-now-modi-has-agreed-to-stop-doing-it-big-step">administration&#8217;s efforts</a> to bring an end to the war in Ukraine by curtailing the Russian energy industry.



India&#8217;s Foreign Ministry has denied this claim, saying that it was &#8220;not aware&#8221; of any conversations between Modi and Trump at the time, according to a <a href="https://www.bbc.com/news/articles/c8eykdy0567o">report</a> by BBC News. 



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/asia/25/10/48328086/china-rare-earths-tariffs-trump-retaliation-supply-chain-risk">Trump&#8217;s 100% Tariff Threat Turns China&#8217;s Rare-Earth Play Into A Dangerous Gamble</a></li>
</ul>



Photo Courtesy: bella1105 on Shutterstock.com

Trump Says He Spoke With Narendra Modi On Diwali: Calls Indian PM 'A Great Friend' Amid Tariff Tensions

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>) reported third-quarter financial results Tuesday <a href="https://www.benzinga.com/earnings">after market close.</a>



Here are the key highlights and a look at what's next.



Q3 Earnings Highlights: Netflix reported third-quarter revenue of $11.51 billion, up 17.2% year-over-year. The revenue total missed a Street consensus estimate of $11.514 billion, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102125&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>



The company reported earnings per share of $5.87, missing a Street consensus estimate of $6.97.



Revenue and year-over-year growth by region were as follows:



<ul class="wp-block-list">
<li>UCAN: $4.93 billion, +15% year-over-year</li>



<li>EMEA: $3.54 billion, +18% year-over-year</li>



<li>LATAM: $1.31 billion, +9% year-over-year</li>



<li>APAC: $1.31 billion, +24% year-over-year</li>
</ul>



Netflix said higher revenue came from membership growth, higher pricing, and increased advertising revenue.



Operating margin was 28% in the quarter, well below guidance of 31.5%. The company said the lower rate was due to an "ongoing dispute with Brazilian tax authorities." Without the dispute, the operating margin would have been above the company&#8217;s forecast.



Netflix had its highest-ever quarterly view share in the United States and the United Kingdom since the fourth quarter of 2022.  



Key titles highlighted in the quarter for Netflix were "Wednesday," "Happy Gilmore 2," "Your Majesty from South Korea," and "KPOP Demon Hunters."



"Happy Gilmore 2" had 126 million views and set a Nielsen streaming record with 2.9 billion minutes viewed in its opening weekend. "KPop Demon Hunters" became the company's most-watched film ever.



The live Canelo vs. Crawford boxing match was the most-viewed men's championship fight this century. The fight had over 41 million views.



The company reported its biggest quarter ever for advertising sales and stated that it had doubled its commitments at the U.S. upfront.



Read Also:<a href="https://www.benzinga.com/trading-ideas/previews/25/10/48316180/netflix-q3-earnings-preview-kpop-demon-hunters-help-streamer-beat-estimates"> Netflix Q3 Earnings Preview: Will &#8216;KPop Demon Hunters&#8217; Help Streamer Beat Estimates?</a>



 What's Next: Netflix is guiding for fourth-quarter revenue to be $11.96 billion, up 16.7% year-over-year. The Street estimate is $11.902 billion according to data from Benzinga Pro.



The company said it expects fourth-quarter growth to come from higher membership figures, higher pricing and increased advertising revenue.



Netflix is guiding for fourth quarter earnings per share of $5.45, versus a Street estimate of $5.42.



For the full fiscal year, the company sees revenue hitting $45.1 billion, up 16% year-over-year. The total would be in line with an original forecast of 15% to 16% revenue growth.



"We're only in our second decade of original programming," the company said.



Earlier Tuesday, the company announced new licensing deals with Mattel and Hasbro for "KPop Demon Hunters."



"We are actively expanding the KPop Demon Hunters universe, bringing fans new experiences and products worldwide."



The company said it sees more opportunities for the hit movie through live experiences, publishing, beauty, lifestyle and food and beverage.



For fourth quarter content, the company highlighted "Stranger Things," "The Diplomat," "Nobody Wants This," "Frankenstein," "A House of Dynamite," "Squid Game: The Challenge Season 2" and "Wake Up Dead Man: A Knives out Mystery." The company also highlighted its upcoming Jake Paul vs. Tank Davis boxing match and two NFL Christmas Day games.



"We can't wait for our members to experience our Q4 slate."



Netflix said it is expanding advertising opportunities for partners, including the use of AI to test new ad formats and for faster ad implementation.



"We have a solid foundation and are increasingly confident in the outlook for our ads business."



The company is on track to more than double its advertising revenue in 2025.



NFLX Price Action: Netflix stock is down 5% to $1,181.00 in after-hours trading on Tuesday versus a 52-week trading range of $744.34 to $1,341.15.



 Read Next:



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<li><a href="https://www.benzinga.com/news/entertainment/25/09/47855723/disney-raises-streaming-prices-is-disney-now-more-expensive-than-netflix" target="_blank" rel="noreferrer noopener">Disney Raises Streaming Prices: Is Disney+ Now More Expensive Than Netflix?</a></li>
</ul>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Netflix Q3 Earnings Call 2025 &#x7C; $NFLX &#x7C; &#x1f534; WATCH LIVE" width="500" height="281" src="https://www.youtube.com/embed/tqrFxtm0wgk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Photo: Emre Akkoyun / Shutterstock.com

Entertainment

Sports

Netflix Q3 Earnings Miss, But Record Ad Sales And Viewership Signal Strong Q4 Momentum

Gold miners endured a brutal sell-off Tuesday, with sector-wide losses hitting double digits after bullion plunged more than 5% in a single session, marking the worst trading day for the metal since August 2020 and triggering its sharpest mining stock rout since the COVID-driven <a href="https://www.benzinga.com/topic/gold">crash of March 2020.</a>



The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDX">GDX</a>), which has been the year's top-performing equity industry fund with over 110% gains, dropped 9.8% during New York afternoon trading. Shares of Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NEM">NEM</a>), the world's largest gold miner, fell 9.2%.



The collapse in miner stocks followed a synchronized retreat in precious metals as profit-taking and rising risk appetite across global markets met stiff resistance in gold's price near record highs.



<h2 class="wp-block-heading">Chart: Gold Miners Sink 10% As Bullion Crashes</h2>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1024x556.png" alt="" class="wp-image-1124354" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1024x556.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-768x417.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-1536x834.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/10/21151230/image-532-2048x1112.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">What Sparked Tuesday&#8217;s Gold Sell-Off </h2>



&#8220;It looks as if gold is finally having a bit of a downside correction following its record-breaking upside run,&#8221; said David Morrison, senior market analyst at Trade Nation, in an emailed comment.



Morrison said the gold sell-off is largely technical, triggered by repeated failures to break above $4,400, with resistance holding firm near $4,380.



Support levels to watch include the critical psychological floor at $4,000, where a bullish trend line converges. If these levels fail, further downside could be in store.



For Morrison, the correction may simply be &#8220;a much-needed reset&#8221; for gold&#8217;s momentum indicators such as the MACD (Moving Average Convergence Divergence), which had signaled overbought conditions.



Fawad Razaqzada, market analyst at Forex.com, said the drop was &#8220;always going to come one of these days&#8221; after the parabolic rally.



He highlighted a combination of a stronger dollar, improving risk sentiment—highlighted by the Nikkei 225 futures surging above 50,000—and hopes of a renewed U.S.-China trade truce, which dampened haven demand.



&#8220;Investors have finally started to take profit after the record-breaking run,&#8221; said Razaqzada, adding that &#8220;long-side liquidation has added some real selling pressure for a change after what was one-way traffic.&#8221;



<h2 class="wp-block-heading">Fundamentals May Still Favor Gold Bulls</h2>



Despite the pullback, some analysts and institutional investors continue to believe that gold's long-term drivers remain intact. 



Imaru Casanova, portfolio manager for gold and precious metals at VanEck, said the rally isn't over, citing &#8220;strong central bank buying and persistent safe-haven demand&#8221; as continued tailwinds.



Investor attention now turns to Newmont's third-quarter earnings on Thursday, which kick off the mining sector's reporting season. 



Peter Spina, president of goldseek.com, said it's shaping up to be a strong earnings season for miners.



&#8220;For Gold miners, the earnings season is going to be a blockbuster,&#8221; he said in a tweet. 



Otavio "Tavi" Costa, a portfolio manager at Crescat Capital, said gold miners are "effectively printing money" at current prices. He indicated that the Philadelphia Gold and Silver Index's free cash flow has surged 11 times in recent quarters.



"Fundamentals have far outpaced the rally," Costa said, suggesting that despite the recent run-up, miners remain undervalued relative to their earnings power.



<h2 class="wp-block-heading">Bottom Line: Buy the Dip Or Wait It Out?</h2>



Tuesday's crash in gold miners marks a clear inflection point, but analysts remain split.



If $4,000 holds as support and macro conditions align, this could prove a classic buy-the-dip scenario. However, if sentiment sours further or earnings disappoint, more downside could follow. 



Read Next:



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<li><a href="https://www.benzinga.com/author/piero-cingari">Trump&#8217;s &#8216;Drill Baby Drill&#8217; Plan Just Backfired—Oil Stocks Haven&#8217;t Been This Cheap In Years</a></li>
</ul>



 Photo: ImageSymphony/Shutterstock

Economics

Gold Miners Just Had Their Worst Crash Since 2020 — Buy The Dip?

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