Global Industrial (NYSE:GIC) Stock

Global Industrial

Global Industrial Co is a value-added industrial distributor. The company distributes a wide range of industrial and maintenance, repair, and operations (MRO) products to customers across North America, including storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, food service and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.

Global Industrial Co

Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) has long been a hot favorite in burrito bowls <a href="https://www.benzinga.com/etfs">and ETF portfolios</a>.
However, with analysts tempering their expectations and the stock losing 18.3% year to date, ETFs that were once feasting on Chipotle might now be excusing themselves from the table.
<h2 class="wp-block-heading">Who&#8217;s Got Chipotle on the Menu?</h2>
Several standout ETFs include Chipotle in their holdings—either for its growth story, brand power, or margins. Here&#8217;s who&#8217;s likely mulling the latest news:
Also Read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44947467/voo-vs-vti-buffett-approves-this-battle-for-your-portfolio">VOO Vs. VTI: Buffett Approves This Battle For Your Portfolio</a>
<ul>
<li>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>): A juggernaut ETF of large consumer favorites, XLY has had Chipotle as one of its growth bets, alongside Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and McDonald&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>). But CMG&#8217;s recent softness could count against its spice factor overall. Currently, the fund has cut it&#8217;s <a href="https://www.ssga.com/us/en/intermediary/etfs/the-consumer-discretionary-select-sector-spdr-fund-xly">exposure </a>to the stock to 1.9% of its overall AUM.</li>
</ul>
<ul>
<li>iShares U.S. Consumer Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYC#NYSE">IYC</a>): The fund provides general <a href="https://www.ishares.com/us/products/239506/ishares-us-consumer-discretionary-etf">exposure </a>to consumer services, where Chipotle&#8217;s high-end dining experience has gotten it included. Price target cuts by analysts may prompt fund managers to reconsider their holding, which has already gone down to 1.2%.</li>
</ul>
<ul>
<li>AdvisorShares Restaurant ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EATZ#NYSE">EATZ</a>): Arguably the most burrito-invested fund on Wall Street, EATZ has a stake in both fast-casual and full-service restaurants. With Chipotle&#8217;s stock now plummeting, the ETF will take the burn harder, as Chipotle <a href="https://advisorshares.com/etfs/eatz/#holdings">enjoys </a>more than 3% of the fund&#8217;s AUM.</li>
</ul>
Though these funds aren&#8217;t ditching Chipotle quite yet, they&#8217;re definitely serving up the risk salsa as analysts call for more restraint ahead of earnings.
<h2 class="wp-block-heading">What&#8217;s Cooking?</h2>
When Chipotle announces earnings on Wednesday, <a href="https://www.benzinga.com/general/restaurants/25/04/44952286/chipotle-international-expansion-on-the-menu-analyst-cautions-on-guidance-tariffs-in-earnings-preview">it&#8217;ll be offering up more than just revenue and EPS</a>—it&#8217;ll be serving up macro trends, international strategy, and how it&#8217;s coping with tariffs and cost pressures.
Guggenheim&#8217;s Gregory Francfort recently cut his price target from $56 to $48, citing weak traffic, weather issues, and lukewarm credit card data. While keeping his rating at Neutral, he anticipates a same-store sales downgrade to &#8220;flat to low single digits.&#8221;
Also Read: <a href="https://www.benzinga.com/general/restaurants/25/04/44823749/wall-street-sours-on-chipotle-here-are-etfs-caught-in-the-crossfire">Wall Street Sours On Chipotle: Here Are ETFs Caught In The Crossfire</a>
And Francfort&#8217;s not the only one. Other analysts are joining in. Barclays cut the price target from $60 to $56; Truist came down to $61 from $74; Wells Fargo is down to $60 from $70; UBS has gone from $70 to $65; and KeyBanc, from $64 to $60.
But some numbers provide a counterpoint. Placer.ai <a href="https://www.placer.ai/anchor/articles/mcdonalds-chipotle-in-the-new-year-q1-recap">tracks </a>Q1 traffic expansion of 4.5% YoY, significantly beating the fast-casual category&#8217;s 4.2% decline. Chipotle&#8217;s new Honey Chicken introduction can potentially drive comps too.
<h2 class="wp-block-heading">A Global Game Plan</h2>
Chipotle just revealed plans to move into Mexico in 2026 through a deal with restaurant behemoth Alsea. That would be the chain&#8217;s seventh global market. With more than 3,700 restaurants today and a 7,000-store long-term target in North America, global expansion is the new frontier, but it could be a hard sell in a rough macroeconomic climate.
At the same time, management is absorbing<a href="https://www.benzinga.com/topic/tariffs"> tariff-driven cost increases</a> (avocados, we're looking at you), which might win over avocado loyalists but could hurt margins in upcoming guidance.
<h2 class="wp-block-heading">Is Chipotle Still ETF-Worthy?</h2>
While Chipotle is still a high-growth competitor with strong brand power, investors, ETF managers, and analysts like Francfort are wondering if the premium multiple is still warranted. A solid earnings report might revive optimism, but anything short of that might lead ETFs to begin cutting exposure.
Ultimately, Chipotle&#8217;s next earnings plate will indicate if it&#8217;s still a market delicacy… or merely extra guac on a dwindling budget.
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Image: Shutterstock

Specialty ETFs

ETFs

AMZN

EATZ

iShares Trust Dow Jones USnsumer Services Sector Index Fund

Select Sector SPDR-Consumer Discretionary

Chipotle Isn't So Hot Ahead Of Earnings: Will ETFs Push The Plate Away?

NIO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) stock is moving higher after President Donald Trump indicated that the final tariff rate with China would be &#8220;substantially&#8221; below the current 145% <a href="https://www.benzinga.com/government/regulations/25/04/44959325/stocks-surge-on-china-tariff-hopes-tesla-jumps-gold-loses-shine-whats-driving-markets-wednesday">but not 0%.</a>
The Details: According to the <a href="https://www.wsj.com/politics/policy/white-house-considers-slashing-china-tariffs-to-de-escalate-trade-war-6f875d69?mod=hp_lead_pos1">Wall Street Journal</a>, a senior White House official said that the Trump administration is contemplating lowering the rate to between 65% and 50%. The administration may also adopt a tiered approach, with tariff rates varying based on what is deemed strategic to America's interests.
Trump said he was optimistic about trade talks and plans to be "very nice" in order to reach a deal. The move is part of the administration&#8217;s attempt to ease tensions in the US–China trade relationship.
China has signaled it is open to trade talks with the US, but not under threats from the administration.
No final decision has been made regarding the tariff rate with China.
NIO and several other US-listed Chinese stocks may be moving higher as lower tariffs on raw materials and components could ease production costs. NIO has also expressed strong interest in entering the U.S. market, where high tariffs would present a barrier to competitive pricing.
The automobile industry and NIO may also be getting a boost after Tesla reported first-quarter earnings Tuesday after the market closed. During <a href="https://www.benzinga.com/25/04/44940401/elon-musk-says-hell-only-spend-day-or-two-per-week-on-government-matters-to-ensure-fraud-does-not-come-roaring-back-ceos-focus-to-shift-to-tesla-beginning-may">the earnings call</a>, CEO Elon Musk told investors he is reducing his time commitment to the Department of Government Efficiency.
Investors may see Musk's reduced government focus as a signal that he plans to dedicate more time to Tesla's core operations, which could boost confidence in the broader EV sector, including companies like NIO.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44961386/pepe-surges-23-in-7-days-can-it-flip-shiba-inu-dogecoin">Pepe Surges 23% In 7 Days: Can It Flip Shiba Inu, Dogecoin?</a>
NIO Price Action: At the time of publication, NIO stock is trading 5.20% higher at $3.94, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro.</a>
Image: via Shutterstock

News

Movers

NIO Stock Trades Higher On Potential China Tariff Cuts, EV Sector Optimism

Tariffs have created plenty of economic uncertainty, but inflation numbers have actually been good so far. According to the U.S. Bureau of Labor Statistics, the consumer price index <a href="https://www.bls.gov/news.release/cpi.nr0.htm">increased by 2.4% year-over-year in March</a>.
Steady inflation has increased speculation that the Fed will eventually cut interest rates. However, real estate investor Grant Cardone believes that big rate cuts are guaranteed. He <a href="https://x.com/GrantCardone/status/1912618410497782149">posted a chart on X</a> to strengthen his claim.
"Gold is acting like we are in a depression. Rates will drop like a rock," Cardone explained.
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The chart shows gold going from $2,000 per ounce near the end of 2023 to more than $3,300 per ounce today. It also shows that gold's price has soared ever since the trade war began.
<h2 class="wp-block-heading">Gold Is Viewed As A Safe Haven</h2>
Many investors retreat into precious metals like gold and silver when financial markets become uncertain. Tariffs have resulted in sharp price swings in the stock market, along with a weakening U.S. dollar. When the dollar gets weak, gold gains value.
The sharp rise in gold may signal that investors are fearful of the future and don't want to get caught holding equities. Gold also performed well when Trump used tariffs during his first term. For instance, the S&amp;P 500 lost more than 15% of its value from Aug. 31, 2018, to the end of 2018. Gold rallied by about 7% during the same stretch.
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
<h2 class="wp-block-heading">The Previous Trade War Suggests Rate Cuts Will Come In A Few Months</h2>
The time between August and December 2018 is important because it relates to Trump's first-term tariffs. The Federal Reserve raised interest rates twice during those few months. A 0.25% on Sept. 27, 2018, set the stage for a 0.25% hike on Dec. 20, 2018. It was a part of the Fed's multiyear effort to raise rates after keeping them at record lows for several years.
The Fed made those rate hikes amid a trading war between the U.S. and China that started in January 2018. Now, we find ourselves in a trade war that started in February. It's more dramatic than the first one, hence gold's strong year-to-date gains.&nbsp;
Although the Fed raised rates several times in 2019, they reduced rates three times in 2019 due to the trade war. The rate cuts came in August, September, and October of that year. Each rate cut was a 0.25% drop. Although the S&amp;P 500 was battered in 2018, it delivered a return of nearly 30% in 2019.&nbsp;
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
If history repeats, the stock market may generate robust returns in 2026, but that remains to be seen. For now, Cardone believes the Fed will have to reduce rates. If inflation readings remain low, the Fed will have enough flexibility to cut rates. A big rate drop can help equities rally.&nbsp;
<h2 class="wp-block-heading">Not Everyone Thinks The Fed Will Cut Rates</h2>
Some replies under Cardone's X post were a bit skeptical. Some people believe the Fed will hike rates to keep inflation at bay. That scenario could risk stagflation, a popular talking point in 2022.&nbsp;
The Fed wasn't afraid to raise interest rates during Trump's first trade war. The same scenario can unfold again, but the Fed may end up making sharp cuts in 2026, just as they did in 2019. While three 0.25% drops may not sound like much, the Fed reduced the federal funds rate from the 2.25%-2.50% range to the 1.50%-1.75% range.
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Image: Shutterstock

Personal Finance

Grant Cardone Shares A Chart That Indicates The Fed Will Drop Rates: 'Gold Is Acting Like We Are In A Depression'

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) has tapped its long-term supplier, Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), for its <a target="_blank" href="https://www.benzinga.com/topic/semiconductors" rel="noreferrer noopener">advanced 2nm process</a>.
Intel and Taiwan Semiconductor are collaborating on a 2nm product to manufacture the compute tile for Intel&#8217;s next-gen Nova Lake PC processors, which are expected in 2026, TechNode <a target="_blank" href="https://technode.com/2025/04/23/intel-reportedly-places-orders-for-tsmcs-2nm-process/" rel="noreferrer noopener">reports</a>.
Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is already a client of Taiwan Semiconductor&#8217;s 2nm process.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/25/04/44932342/taiwan-semiconductors-arizona-factory-faces-441-million-loss-amid-supply-chain-labor-cost-challenges" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Arizona Factory Faces $441 Million Loss Amid Supply Chain, Labor Cost Challenges</a>
Last February, Intel CEO Pat Gelsinger confirmed that the company had, for the first time, outsourced the compute tiles of two processors to Taiwan Semiconductor, which became the Intel Core Ultra 200V laptop series (Lunar Lake) and the Core Ultra 200S desktop series (Arrow Lake), its first AI PC processors.
Recently, Taiwan Semiconductor <a href="https://www.benzinga.com/25/04/44857887/taiwan-semiconductor-q1-surges-41-in-sales-boosted-by-ai-chip-demand-expanded-margins" target="_blank" rel="noreferrer noopener">told Bloomberg that</a> it did not engage in discussions to form a venture or share its technology with any company, dismissing speculation of possible collaboration with Intel. 
The Taiwan Semiconductor and Intel collaboration reports gained traction after Taiwan Semiconductor announced an additional $100 billion investment in U.S. chipmaking (on top of $65 billion in April 2024). 
Intel chief Lip-Bu Tan will likely meet Taiwanese suppliers in May to celebrate the inauguration of the Computex Taipei trade show, the Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/biz/archives/2025/04/23/2003835641" rel="noreferrer noopener">reported</a>, citing supply chain sources on Monday. Tan is attempting to turn around the struggling US chipmaker.
Tan will hold a banquet to celebrate Intel&#8217;s 40-year presence in Taiwan before Computex opens on May 20 and invite Taiwanese suppliers to discuss global semiconductor industry dynamics. Tan would visit Intel suppliers in Taiwan.
In Intel&#8217;s latest annual report, Tan discussed prioritizing its position in the cloud-based artificial intelligence data center market and creating advanced process technologies to build its wafer foundry business.
Price Actions: INTC stock is up by 5.25% to $20.54 at the last check on Wednesday. 
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Photo Courtesy: Tada Images On Shutterstock

Tech

Media

INTC

Intel Taps Taiwan Semiconductor For Advanced 2nm Process For AI-Powered Chips: Report

Shares of technology company Coupang Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) are <a href="https://www.benzinga.com/movers">trading higher on Wednesday</a> after launching a new program aimed at allowing American businesses to pitch and sell products internationally.
Partnering with the International Trade Administration, the initiative <a href="https://www.benzinga.com/pressreleases/25/04/b44948143/coupang-partners-with-the-department-of-commerces-international-trade-administration-to-help-ameri">aims to boost U.S. exports</a> and create new global sales opportunities.
Called Rocket Pitch, the program offers U.S. businesses a chance to present their consumer products during an online event held in collaboration with the U.S. Commercial Service. 
The program will spotlight major product sectors such as food and drinks, dietary supplements, infant care, fitness nutrition, and personal care items.
Also Read: <a href="https://www.benzinga.com/news/earnings/25/04/44949808/zyn-gum-makers-smoke-free-business-revenue-jumps-15-raises-annual-profit-outlook">Zyn Gum Maker&#8217;s Smoke-Free Business Revenue Jumps 15%, Raises Annual Profit Outlook</a>
Companies chosen will get instant purchase commitments from Coupang, South Korea's leading e-commerce platform. Coupang is aiming to facilitate the export of American-made products by removing common barriers to entry. 
Alongside automatic purchase agreements, the company will offer marketing support, translation services, logistics solutions, customs handling, and customer service management. 
&#8220;Coupang makes global expansion easy for U.S. sales partners of any size, and we have all the tools you need to be a success at cross-border trade,&#8221; said Coupang&#8217;s Vice President of Global eCommerce, Jonathan Burks.
Sellers will also benefit from return handling and guidance from U.S. trade experts.
South Korea, ranked as the world's fourth-largest e-commerce market, boasts an active online shopper base, with 98% of South Koreans aged 20-39 shopping online. 
Coupang&#8217;s logistics system promises ultra-fast delivery options, including same-day and overnight shipping, giving U.S. exporters a competitive edge.
Price Action: CPNG shares traded higher by 4.1% at $22.58 at last check Wednesday.
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Photo: Shutterstock

General

CPNG

Coupang Teams Up With US Trade Officials To Supercharge American Exports

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the world's largest gold producer, saw a pullback Wednesday following favorable industry conditions and <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44933680/gold-miners-surge-50-year-to-date-as-record-bullion-prices-drive-optimism-ahead-of-earnings">record gold prices</a>.
Shares of gold stocks are trading lower as gold prices drop after President Trump said he has <a href="https://www.benzinga.com/25/04/44940900/us-futures-dollar-jump-amid-trumps-latest-comments-on-fed-nikkei-rebounds-to-three-week-high">no intention of firing</a> Fed Chair Powell and indicated the final tariff rate with China would be &#8220;substantially&#8221; lower than the current 145%. These comments could be reducing some macro uncertainty, which recently drove gold to record highs.
What To Know: Gold briefly touched $3,500 per ounce this month, driven by sticky inflation, geopolitical tensions and surging investor demand. 
With gold <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44933680/gold-miners-surge-50-year-to-date-as-record-bullion-prices-drive-optimism-ahead-of-earnings">averaging $2,862 per ounce</a> in the first-quarter 2025 and miners enjoying all-in sustaining costs near $1,400–$1,500, Newmont could report robust margins and strong free cash flow in its upcoming earnings release.
However, the stock has slipped as investor appetite shifts toward higher-growth tech names and Bitcoin, <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44958259/bitcoin-reclaims-spotlight-while-gold-loses-luster-the-safe-haven-standoff-continues">which reclaimed $94,000</a> amid renewed "digital gold" enthusiasm.
The pullback could also reflect elevated expectations of late — Newmont, having completed an acquisition of <a href="https://www.benzinga.com/news/asset-sales/24/11/42202141/newmont-sells-mine-for-795-million-barrick-expands-reserves-top-miners-unfazed-by-underperformance">Newcrest Mining in 2023</a>, is under scrutiny to deliver on promised synergies and operational efficiency.
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Price Action: NEM is trading lower by 2.6% to $53.11 Wednesday afternoon.
<h2 class="wp-block-heading">How To Buy NEM Stock</h2>
By now you're likely curious about how to participate in the market for Newmont &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of Newmont, which is trading at $53.16 as of publishing time, $100 would buy you 1.88 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, NEM has a 52-week high of $58.72 and a 52-week low of $36.86.

Why Newmont (NEM) Shares Are Trading Lower Today

By now, anyone watching markets for more than a few months knows the truth: short-term market moves are anyone&#8217;s guess, but over the long haul, valuation is destiny.
When it comes to long-term opportunities in the market indexes, you&#8217;ve got to get under the hood of sentiment, valuation, and allocation. That&#8217;s where three time-tested signals come in: the market cap-to-GDP ratio (Buffett&#8217;s favorite valuation compass), aggregate investor allocation to equities (an under-the-radar sentiment gauge), and the excess CAPE yield (a rare bright light in the world of macro).
Together, they don&#8217;t just whisper. They shout.
Specifically, they shout that stocks are a loser's game, and that you need to invest in a very specific asset class. 
Don't worry – doing so is easy, profitable, and pays an 8.5% yield, too.
Let&#8217;s start with the most poetic signal of them all, Warren Buffett&#8217;s beloved Market Cap to GDP.
At present, the total U.S. market cap (Wilshire 5000) sits well over 170% of U.S. GDP. Historically, a ratio over 120% indicated future annual returns well below the long-term average of ~9–10%. 
At today&#8217;s stretched levels, we&#8217;re firmly in the danger zone. Past instances (think 1999) saw returns that struggled to break the mid-single digits, even before accounting for inflation.
If mean reversion is the rule (and it always eventually is), then we are looking at forward nominal returns in the neighborhood of 3–5%, possibly lower if we go full cycle and dip below the mean.
Next up, Investor Allocation to Equities, which might be the most predictive (and most ignored) signal of the three. The Federal Reserve&#8217;s Financial Accounts data tells us what share of household financial assets is in equities. Right now, that&#8217;s hovering near all-time highs at roughly 45% of assets. And here&#8217;s the rub: historically, when equity allocations are this high, future ten-year returns tend to come in very low.
A 2012 study by J.P. Morgan&#8217;s Michael Cembalest showed that the equity allocation metric was incredibly accurate when predicting subsequent ten-year returns.
At today&#8217;s levels, that model implies sub-3% real returns on the S&amp;P 500. If you&#8217;re counting on 7–8% a year to fund your retirement, you&#8217;d better hope for a miracle, or a crash that resets the starting line.
Finally, the Excess CAPE Yield, which compares the inverse of the Shiller CAPE ratio (that is, earnings yield) to the ten-year Treasury yield. It&#8217;s one of the few signals that adjusts for the low-rate environment. Currently, with a CAPE of ~33 and ten-year yields above 4.5%, the excess yield is approaching negative territory.
That&#8217;s a historically awful setup.
Whenever excess CAPE yield has turned negative, future returns tend to hover at or below the rate of inflation.
The basic logic? If you can get 4.5% with no risk and stocks are offering a real yield of less than 3%, the equity risk premium is functionally zero.
There&#8217;s simply no reason to stretch for stocks, unless you&#8217;re betting on multiple expansion from already excessive levels. Good luck with that.
Put it all together and here&#8217;s the story: the S&amp;P 500 is priced to deliver at best 3–4% nominal returns annually over the next decade, with a decent shot of dipping closer to 1–2% if we get a proper valuation washout. And that&#8217;s before factoring in inflation. On a real return basis, you could be looking at flat or even negative returns over the next ten years. That&#8217;s not a doomsday forecast.
It&#8217;s the historical norm when starting valuations and sentiment are this euphoric.
Could we do better? Sure.
Markets are not math equations, and momentum can keep valuations lofty longer than any sane person would expect.
But betting your money on that outcome is playing chicken with history.
There is an asset class and strategy that can put us on the right side of history and deliver solid returns even if stocks do better than expected: the forgotten workhorses of the capital markets.
I&#8217;m talking about the upper tier of the high-yield market, otherwise known as &#8220;fallen angels&#8221; or &#8220;almost junk.&#8221; These bonds have a fascinating habit of quietly winning when nobody&#8217;s looking.
This has been especially true during equity market &#8220;lost decades,&#8221; when the S&amp;P 500 spins its wheels and delivers little to no return for years on end. These bonds have consistently proven themselves to be a reliable, even remarkable, source of income and capital appreciation.
Let&#8217;s set the historical table. The 1970s and the 2000 to 2010 periods are the two big &#8220;lost decades&#8221; most investors remember.
During the inflation-ravaged 1970s, high-quality high-yield bonds quietly outperformed both stocks and government bonds, delivering nominal returns in the 8–10% range while equities barely kept pace with inflation.
The S&amp;P 500 returned just under 6% annually in nominal terms, but with inflation averaging over 7%, real returns were negative.
There were also massive drawdowns of 50% of so in the indexes.
By contrast, bonds offering high yields and moderate credit risk provided a steady stream of income that not only kept up with inflation but also offered positive absolute returns.
Unlike lower-rated junk bonds, these bonds avoided the worst default risk while still capturing a significant portion of the excess yield available during a decade marked by rising rates and economic instability.
From 2000 through 2009, the S&amp;P 500 had a total return of -0.9%, a negative return over ten full years, including dividends. The market had to digest the dot-com collapse, the accounting scandals, 9/11, and finally the global financial crisis. It was a brutal stretch for equity investors.
Meanwhile, high-quality high-yield bonds delivered positive annualized returns north of 7%. That&#8217;s not just a win. It&#8217;s a rout.
These bonds effectively live in the &#8220;sweet spot&#8221; of the credit spectrum: high enough yield to matter, low enough risk to survive.
Institutional investors who bought high-quality, high-yield bonds and held them to maturity were clipping generous coupons, while stock investors endured a rollercoaster that ultimately went nowhere in real terms.
While long-duration Treasuries got crushed and equities faced P/E compression, high-quality high-yield bonds quietly delivered. If we&#8217;re heading into another period of stagflation or a lost decade in stocks, history suggests these bonds could once again be the unsung heroes of portfolio construction.
My favorite way to invest in high-quality high-yield bonds is through individual bonds.
I cut my teeth on credit back in the late 1980s and early 1990s during the wreckage of the Michael Milken and corporate raider era.
Digging through financial statements to find bargains is, as Austin Powers might opine, &#8220;My bag, baby.&#8221;
However, it is a very hands-on strategy and is not always an easy market for individuals to trade.
My favorite way for most investors to play this lucrative market right now is ETF from Infrastructure Capital Advisors. The firm&#8217;s new Capital Bond Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNDS#NYSE">BNDS</a>) is high-quality high-yield done right.
Fund manager Jay Hatfield&#8216;s approach to markets and credit is similar to mine.
The portfolio is comprised of bonds that I would cheerfully add to my own.
Hatfield also opportunistically uses an option-writing strategy to enhance income while maintaining upside market exposure by using high-yield ETFs.
The current distribution yield is 8.5%, and many of the issues trade at a significant discount to par value.
If valuation and economic measures prove to be right again, the yield alone will deliver a significant premium to the return of the S&amp;P 500.
The narrowing of the discount as bonds move closer to maturity or prices move higher in response to credit upgrades or fed actions will be a bonus.
<h2 class="wp-block-heading">Gold Pullback Alert: Matt Maley's Next Trade</h2>
The same strategy that delivered a verified 2,400% gain on SQQQ for Matt's Inner Circle members is now signaling a gold trade. Get The Newest Trade Alert For Free Right <a href="https://www.benzinga.com/premium/ideas/7-day-free-trial-matt-maley-inner-circle/?el=R[…]}}&amp;utm_adType=SponsorAd&amp;utm_ad=RD0424&amp;utm_campaign=7daytrial">HERE</a>.
Editorial content from our Expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies which are neither expressly or impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

Opinion

Trading Ideas

BNDS

3 Key Signals Say It's Time To Invest In This 'Forgotten' Market, Here's How

Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock is trading higher amid overall market strength after President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell.
The Details: According to the <a href="https://www.wsj.com/politics/elections/trump-says-he-has-no-intention-of-firing-fed-chair-powell-eda4c6a7">Wall Street Journal</a>, Trump told reporters he wants Powell to "be a little more active in terms of his idea to lower interest rates," but added, "no, I have no intention to fire him." This comes after Trump wrote on <a href="https://truthsocial.com/@realDonaldTrump/posts/114376239725335883">Truth Social</a> Monday that Powell has always been "Too Late" on interest rate decisions.
Trump made similar threats toward the Fed during his first term. In December 2018, he threatened to fire Powell as the Fed raised interest rates.
More recently, Trump told reporters he believes he has the authority to fire Powell, saying, "If I want him out, he'll be out of there real fast, believe me," though Powell has expressed a differing view on the matter.
Super Micro, along with the broader semiconductor sector, may be moving higher as Trump&#8217;s comments ease investor uncertainty around Fed leadership and fuel market optimism.
What Else: The Trump administration is also considering lowering tariffs on Chinese goods, which currently reach as high as 145%, in an effort to ease tensions in the U.S. trade relationship with China, per the <a href="https://www.wsj.com/politics/policy/white-house-considers-slashing-china-tariffs-to-de-escalate-trade-war-6f875d69">Wall Street Journal.</a>
Although no final decision has been made, a senior White House official said tariffs are likely to be reduced to between 50% and 65%. Trump stated that the final rate won&#8217;t be 0%.
The administration may also adopt a tiered approach, with tariff rates varying based on what is deemed strategic to America's interests.
This news may be lifting Super Micro, and the chip industry, as a potential tariff reduction could ease investor concerns around trade and supply chain disruptions, which has been weighing on the sector.
See Also: <a href="https://www.benzinga.com/personal-finance/25/04/44958370/1-5m-rich-but-clueless-couple-with-82k-combined-income-says-need-help-after-winning-big-reddit-explodes-over-what-they-should-do-next">$1.5M Rich But Clueless – Couple With $82K Combined Income Says &#8216;Need Help&#8217; After Winning Big, Reddit Explodes Over What They Should Do Next</a>
SMCI Price Action: At the time of publication, Super Micro shares are trading 7.39% higher at $32.84, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro.</a>
Image: This illustration was generated using artificial intelligence via Midjourney.

SMCI

Super Micro Stock Gains As Trump Signals No Plans To Fire Powell

Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares are falling Wednesday after the company reported worse-than-expected financial results for the first quarter. Multiple analysts also lowered price targets <a href="https://www.benzinga.com/quote/ENPH/analyst-ratings">following the print</a>.
<ul>
<li>Q1 Revenue: $356.1 million, versus<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener"> estimates</a>&nbsp;of $361.43 million</li>
</ul>
<ul>
<li>Q1 EPS: 68 cents, versus estimate of 70 cents</li>
</ul>
Enphase said U.S. revenue decreased approximately 13% quarter-over-quarter due to seasonality and "softening" U.S. demand. Revenue in Europe was up approximately 7% quarter-over-quarter, driven by higher battery sales. The solar company said it shipped approximately 1.53 microinverters, representing 170.1 megawatt hours of IQ batteries in the quarter.
Enphase Energy generated&nbsp;$48.4&nbsp;million&nbsp;in cash flow from operations and $33.8 million in free cash flow during the quarter. Enphase ended the quarter with $1.53 billion in cash, cash equivalents, restricted cash and marketable securities.
Guidance: Enphase sees second-quarter revenue in the range of $340 million to $380 million. The company guided for second-quarter gross margin of 42% to 45%, or 44% to 47% on an adjusted basis. The gross margin forecast includes approximately two percentage points of new tariff impacts.
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44959325/stocks-surge-on-china-tariff-hopes-tesla-jumps-gold-loses-shine-whats-driving-markets-wednesday">Stocks Surge On China Tariff Hopes, Tesla Jumps, Gold Loses Shine: What&#8217;s Driving Markets Wednesday?</a>
Analyst Changes:
<ul>
<li>Susquehanna analyst Biju Perincheril maintained Enphase with a <a href="https://www.benzinga.com/analyst-stock-ratings">Neutral</a> and lowered the price target from&nbsp;$59&nbsp;to&nbsp;$51.</li>
</ul>
<ul>
<li>BMO Capital analyst Ameet Thakkar maintained Enphase with a Market Perform and lowered the price target from&nbsp;$59&nbsp;to&nbsp;$46.</li>
</ul>
<ul>
<li>Goldman Sachs analyst Brian Lee maintained Enphase with a Buy and lowered the price target from&nbsp;$90&nbsp;to&nbsp;$77.</li>
</ul>
<ul>
<li>Piper Sandler analyst Kashy Harrison maintained Enphase with a Neutral and lowered the price target from&nbsp;$47&nbsp;to&nbsp;$42.</li>
</ul>
<ul>
<li>RBC Capital analyst Christopher Dendrinos reiterated Enphase with a Sector Perform and lowered the price target from&nbsp;$59&nbsp;to&nbsp;$54.</li>
</ul>
ENPH Price Action: <a href="https://www.benzinga.com/quote/ENPH" target="_blank" rel="noreferrer noopener">Enphase Energy shares</a> were down 15.7% at $45.05 at the time of publication Wednesday, per <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. Enphase shares are now down approximately 33% year-to-date and are nearing five-year lows.
Photo: <a href="https://www.shutterstock.com/g/Alyoshin+E">AlyoshinE</a>/Shutterstock.

Earnings

Price Target

ENPH

Enphase Energy Stock Is Tumbling Wednesday: Why Investors Are Selling Shares

Americans are rushing to buy cars ahead of looming price hikes, fueling a short-term spending spree on goods most vulnerable to the latest <a href="https://www.benzinga.com/news/econ-s">wave of tariff disruptions.</a>
In its Beige Book released Wednesday, the Federal Reserve said most regional districts reported moderate to robust vehicle sales, attributing the surge to "a rush to purchase ahead of tariff-related price increases." 
The data underscores growing anxiety as the 25% tariff on imported automobiles, imposed by the Trump administration, took effect on April 3.
<h3 class="wp-block-heading">A Tale of Two Consumers: Autos Hot, Everything Else Not</h3>
While Americans are racing to lock in car deals, non-auto consumer spending has taken a hit. 
The Beige Book's national summary described overall economic activity as "little changed," with only five of the 12 Fed districts reporting slight growth. In contrast, three districts were flat, and four reported declines.
The diverging consumer behavior is stark. In the Cleveland district, for instance, retail demand slumped, but auto dealers saw a wave of customers "pulling forward purchases" in anticipation of higher prices. 
In New York, economic activity contracted modestly, and businesses conveyed "significant concern about tariffs," leading many to brace for declining activity and surging costs.
<h3 class="wp-block-heading">Inflation Fears Mount As Tariff Surcharges Hit Supply Chains</h3>
Prices rose across all districts due to trade disruptions. 
At least six districts described the price growth as moderate, and another six as modest, yet across the board, tariffs were named as a key driver. Businesses are already receiving cost-hike notifications from suppliers and in many cases are adding surcharges or shortening pricing horizons.
"Most businesses expected to pass through additional costs to customers," the Fed said, although several also flagged the risk of margin compression as demand weakens, particularly for consumer-facing firms.
In Kansas City, expectations of price growth rose "at a robust rate," particularly in the goods sector, while in Dallas, "input cost pressures accelerated" and outlooks deteriorated amid trade uncertainty.
<h3 class="wp-block-heading">Outlook Worsens As Trade Uncertainty Takes Hold</h3>
The clearest theme from the Fed's April Beige Book is that the U.S. economy is barely growing. 
While pockets of strength, like the auto sales boom, show consumers are still willing to spend, those surges appear driven by fear of future costs rather than optimism.
That fear of higher prices, lower margins, and supply disruptions is increasingly shaping decisions for both consumers and businesses. 
Michigan-based automakers General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) are scheduled to release their first-quarter earnings on April 29 and May 5, respectively.
Investors will be closely watching to see whether the recent increase in vehicle sales has come with added costs—and how that has impacted automakers' profit margins.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44957724/tesla-stock-faces-demand-political-tariff-pressure-why-analysts-focus-on-multiple-generational-growth-drivers">Tesla Stock Faces Demand, Political, Tariff Pressure: Why Analysts Focus On &#8216;Multiple Generational Growth Drivers&#8217;</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Equities

Large Cap

Macro Economic Events

Econ #s

Economics

Federal Reserve

Analyst Ratings

STLA

Americans Rush To Buy Cars Ahead Of Tariff Price Hikes, Fed Beige Book Shows

Cybersecurity provider Check Point Software Technologies&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44943335/check-point-software-reports-2025-first-quarter-financial-results" rel="noreferrer noopener">fiscal first-quarter results</a> on Wednesday.
The company reported quarterly revenue growth of 7% year over year to $637.8 million, topping the&nbsp;analyst consensus estimate of $636.2 million.&nbsp;
The American Israeli enterprise security solution&nbsp;provider&#8217;s&nbsp;adjusted EPS of $2.21 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.19</a>. The stock declined following the report, despite the earnings beat.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43459532/check-point-boosts-threat-prevention-with-upgraded-infinity-platform" rel="noreferrer noopener">Check Point Boosts Threat Prevention with Upgraded Infinity Platform</a>
Revenue from&nbsp;Products&nbsp;and licenses grew by 14% Y/Y to $114 million,&nbsp;Security&nbsp;subscriptions increased 10% Y/Y to $291 million, and&nbsp;Software&nbsp;updates and maintenance declined 0.9% Y/Y to $233 million.
Margin: Adjusted operating margin declined to 40.5% from 42.1% the prior year.&nbsp;The operating margin declined to 30.7% from 32.4% a year ago as operating expenses surged by 9.2% Y/Y.
The company generated $421.1 million in operating cash flow, compared to $361.0 million a year ago, and held $2.93 billion in cash and equivalents as of March 31, 2025.
CEO Nadav Zafrir said strong demand for its Quantum Force appliances, fueled by refresh cycles and new projects, delivered double-digit year-over-year product and license revenue growth. He added that the AI-driven Infinity Platform, featuring a Hybrid Mesh Architecture, continues to resonate with customers and delivered another quarter of impressive double-digit year-over-year growth.
Outlook: Check Point Software <a target="_blank" href="https://www.checkpoint.com/about-us/investor-relations/" rel="noreferrer noopener">projected second-quarter</a> revenue of $642.00 million —$682.00 million versus the analyst consensus estimate of $665.75 million and adjusted EPS of $2.32-$2.42 versus the analyst consensus estimate of $2.36.
The company affirmed fiscal 2025 revenue of $2.66 billion-$2.76 billion versus the $2.72 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst consensus estimate</a> and adjusted EPS of $9.60-$10.20 versus the $9.91 analyst consensus estimate.
Price Action: CHKP stock is down 5.04% at $201.61 at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44903362/american-express-solid-revenue-and-spending-trends-drive-analyst-optimism" target="_blank" rel="noreferrer noopener">American Express&#8217; Solid Revenue, Spending Trends Drive Analyst Optimism</a></li>
</ul>

Guidance

CHKP

Why Is Cybersecurity Stock Check Point Software Sliding On Wednesday?

Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>) has surged 32% over the past week, outperforming top meme coins like Dogecoin and Shiba Inu. Some traders to call Floki "incredibly undervalued" with <a href="https://www.benzinga.com/money/floki-price-prediction">three-digit upside potential</a>.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
</tr>
<tr>
<td>Floki Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>)</td>
<td> $0.00007109</td>
<td>$684.4 million</td>
<td>+13.8%&nbsp;</td>
<td>+32.4%&nbsp;</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td> $0.1810</td>
<td>$26.96 billion</td>
<td>+5.7%&nbsp;</td>
<td>+17.2%&nbsp;</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00001367</td>
<td>$8.05 bilion</td>
<td>+3.2%&nbsp;</td>
<td>+16.3%&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Crypto trader Unipcs <a href="https://x.com/theunipcs/status/1915001814006513923">says</a> Floki is breaking away from the meme coin pack, having already surpassed its previous all-time highs while DOGE and SHIB lag. 
He points to deep TradFi and crypto integration, especially its ETP listings, as a key driver for future inflows.
He adds that Floki is down 80% from ATH, offering a strong risk/reward ratio, listed on Binance, Coinbase, Robinhood EU, Revolut, and nearly every major CEX and one of the most recognized crypto brands due to aggressive global marketing.
Javon Marks also <a href="https://x.com/JavonTM1/status/1915073943796404667">sees</a> a major breakout brewing. 
If current resistance breaks cleanly on this volume, he predicts a +270% move toward $0.00027, fueled by BNB Chain tailwinds, meme coin momentum and the ETP narrative. 
The volume spike is often the early tell before price follows, and it looks like the setup is aligning nicely.
Statistics: IntoTheBlock data shows Floki's large transaction volume and daily active addresses increased 10.7% and 18.2% respectively. Currently, 52% Floki holders are making profit.
Coinglass data shows Floki's open interest and derivatives trading volume spiked 29.5% and 122.3% respectively in a single day.
Community News: Floki <a href="https://x.com/RealFlokiInu/status/1915052286801256556">announced</a> a strategic partnership with Rice Robotics, the company behind RICE AI, backed by Nvidia, SoftBank and Alibaba Entrepreneurs Fund. 
The duo is launching the FLOKI Minibot M1, an AI companion robot integrated with Floki's decentralized AI protocol.
The goal is pioneer Decentralized Physical AI (DePAI) where robots buy, train and share data. Floki's TokenFi will play a core role in tokenizing Rice AI's brand and data marketplace.
With the AI robotics market projected to hit $100 billion by 2030, this positions Floki at the intersection of AI, Web3 and real-world utility.
Read Next: 
<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44846673/meme-coin-market-is-very-much-alive-can-dogecoin-shiba-inu-fartcoin-bounce-back">Meme Coin Market Is &#8216;Very Much Alive&#8217;: Can Dogecoin, Shiba Inu, Fartcoin Bounce Back?</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$DOGE

$FLOKI

$SHIB

Floki Surges 32% In 7 Days, Outpaces Dogecoin & Shiba Inu: What Is Going On?

With the CBOE Volatility Index (VIX) fluctuating around 30, a level that indicates moderately high market stress, investors are looking at a well-timed entry in <a href="https://www.benzinga.com/etfs">volatility-targeting exchange-traded products</a>. 
Although the VIX continues to be elevated, recent indications from Washington indicate that the window may not remain open for very long.
Both President Donald Trump and Treasury Secretary Scott Bessent have teased out the <a href="https://www.benzinga.com/government/regulations/25/04/44952395/us-business-activity-growth-slows-in-april-as-services-suffer-tariff-shock-markets-rally-as-trade-war-cools">possibility for rollback of tariffs and general de-escalation in trade</a>—news that will reassure investor confidence and push VIX down. 
In case of an eventual deceleration of volatility, tactical investors will need to invest in volatility ETFs, meaning now is also potentially the best time to take a holding position before equilibrium re-establishes.
Let us deconstruct three currently popular volatility ETFs amongst tactical investors:
iPath Series B S&amp;P 500 VIX Short-Term Futures ETN (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VXX#BATS">VXX</a>)
<ul>
<li>The VXX gives exposure to a rolling position in front-month VIX futures contracts. Its behavior tends to surge during sudden market shocks, and it is a favorite hedge among short-term traders.</li>
<li>Best for: Quick-moving volatility spikes.</li>
<li>Structure: Being an ETN, it has issuer credit risk, something long-term investors should note</li>
<li>Expense Ratio: 0.89%.</li>
</ul>
ProShares VIX Short-Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VIXY#BATS">VIXY</a>)
<ul>
<li>VIXY provides comparable exposure to VXX, but in an ETF format. It offers a daily rolling position in short-term VIX futures and can take advantage of sudden spikes in volatility.</li>
<li>Best for: Traders seeking transparent, ETF-based volatility exposure.</li>
<li>Structure: ETF structure sidesteps credit risk of ETNs.</li>
<li>Expense Ratio: 0.85%.</li>
</ul>
ProShares VIX Mid-Term Futures ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/VIXM#BATS">VIXM</a>)
<ul>
<li>For those who want to steer clear of the volatile swings of short-term VIX products, VIXM provides exposure to mid-term VIX futures, which mitigates the effects of near-term decay.</li>
<li>Best for: More moderate exposure to volatility on a week-to-month basis.</li>
<li>Structure: ETF structure with a less spiky volatility pattern.</li>
<li>Expense Ratio: 0.85%</li>
</ul>
Also read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44947467/voo-vs-vti-buffett-approves-this-battle-for-your-portfolio">VOO Vs. VTI: Buffett Approves This Battle For Your Portfolio</a>
Macroeconomic Backdrop Is Still Shaky
Today&#8217;s demand for volatility ETFs lies in the blend of economic doubt and policy-related risk. In its April 2025 World Economic Outlook, the International Monetary Fund heavily <a href="https://www.imf.org/en/Blogs/Articles/2025/04/22/the-global-economy-enters-a-new-era">revised </a>its growth estimate for the United States downward to 1.8% as it singled out <a href="https://www.benzinga.com/government/regulations/25/04/44926902/imf-slashes-us-growth-outlook-as-trump-tariffs-bite-raises-recession-odds-to-40">Trump&#8217;s tariffs as being one of the heavy drags on productivity</a> and investor sentiment.
Close to 0.4 percentage points of the downgrade are attributed to trade measures directly, and the remaining portion is a reflection of weakening domestic momentum. IMF Chief Economist Pierre-Olivier Gourinchas now estimates the U.S. recession probability at 40%, an increase from 25% in October.
These projections have managed to keep the high VIX levels intact—but political tone is potentially changing.
Trade Relief On The Horizon?
On April 22, Trump and Bessent both <a href="https://www.benzinga.com/topic/tariffs">hinted at relaxing tariffs</a>, especially the 145% on Chinese imports. Bessent referred to the present trade policy as &#8220;unsustainable&#8221; and hinted at more clarity in the coming months.
Markets did not lose any time factoring in the possible relief:
SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 2.6%, the Dow Jones ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) increased by 2.7%, and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 2.6%, on the same day.
These actions imply a willingness to turn away from protectionism, an event that would subdue the VIX and, by association, make volatility ETFs less attractive.
The Bottom Line
Volatility ETFs such as VXX, VIXY, and VIXM work best as short-term instruments, not long-term holdings. Yet with the VIX still in elevated mode and policy clarity still on the drawing board, now might be the perfect time to get in on the action—before the market discovers its cool and these high-octane vehicles lose their sizzle.
In short: this may be your last bet before the volatility train leaves the station.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44934617/the-magnificent-meltdown-qqq-tanks-as-big-techs-shine-wears-off-but-theres-a-silver-lining">Magnificent Meltdown: QQQ Tanks As Big Tech&#8217;s Shine Wears Off, But There&#8217;s A Silver Lining</a></li>
</ul>
Image: Shutterstock

SPDR Dow Jones Industrial Average ETF Trust

VIXM

VIXY

Barclays Bank iPath S&P 500 VIX Short-Term Futures ETN

VIX Is Still Wild, But Not for Long: 3 Volatility ETFs To Grab Before Calm Returns

Truist Securities analyst Michael Ciarmoli reiterated a Buy rating on Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) with a price forecast of $579 following first-quarter <a href="https://www.benzinga.com/quote/LMT/analyst-ratings" target="_blank" rel="noreferrer noopener">results reported on Tuesday.</a>
The company reported a 4% year-over-year increase in net sales to $18 billion, beating the consensus of $17.8 billion. It clocked a GAAP EPS of $7.28, <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">beating the consensus of $6.32</a>.
Lockheed Martin continues to expect FY25 net sales of&nbsp;$73.75 billion-$74.75 billion&nbsp;versus the consensus of&nbsp;$74.28 billion. LMT reiterated EPS guidance of ~$27.00-$27.30&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the consensus of&nbsp;$27.21.</a>
Lockheed Martin says ‘2025&nbsp;outlook&nbsp;does not include the evolving impacts of tariffs or related recoveries, the recent Next Generation Air Dominance announcement, or Executive <a target="_blank" href="https://www.benzinga.com/25/04/44922218/lockheed-martin-posts-strong-q1-says-maintained-2025-guidance-doesnt-include-tariff-impact" rel="noreferrer noopener">Orders issued by the Administration.</a>&#8216;
The analyst writes that the results suggested that even after the NGAD (Next Generation Air Dominance) contract bid loss, reaching the upper end of the company&#8217;s multi-year<a target="_blank" href="https://www.benzinga.com/news/contracts/25/03/44445996/lockheed-martin-shares-sink-after-major-us-air-force-contract-goes-to-boeing-what-to-know" rel="noreferrer noopener"> growth targets remains a possibility</a>.
During Lockheed's first quarter of 2025 earnings call, CEO&nbsp;Jim Taiclet&nbsp;said he had challenged his team to deliver "80% of 6th Gen capability at 50% of the cost" by applying technologies developed for its <a target="_blank" href="https://www.benzinga.com/news/earnings/earnings-misses/25/04/44944021/lockheed-martin-targets-80-of-6th-gen-capabilities-in-f-35-at-half-the-cost-after-losing-ngad-contract-to-boeing" rel="noreferrer noopener">NGAD bid to the existing F-35 platform</a>.
Ciarmoli believes this presents a compelling opportunity and can drive growth.
Moreover, the analyst notes that the current geopolitical landscape is fueling increased investment in defense budgets and driving higher demand for defense capabilities globally, which continues to boost Lockheed Martin&#8217;s backlog.
The analyst anticipates that these positive results should alleviate the uncertainty that has been weighing on the company&#8217;s shares.
Ciarmoli revised EPS estimates to $27.40 (from $27.00) vs. consensus of $27.22 in FY25 and $29.66 (from $29.49) vs. street view of $29.78 for FY26.
Investors can also monitor the broader defense sector through ETFs, including the&nbsp;First Trust Exchange-Traded Fund First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>) and the&nbsp;Invesco Aerospace &amp; Defense ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>).&nbsp;
Price Action: LMT shares are up 0.04% at $462.27 at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/04/44954335/old-dominion-earnings-shine-despite-revenue-slide" target="_blank" rel="noreferrer noopener">Old Dominion Earnings Shine Despite Revenue Slide, CEO Blames &#8216;Ongoing Softness&#8217; In Economy</a></li>
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Image: Shutterstock

Reiteration

MISL

Lockheed Can Unlock Significant F-35 Growth Potential With This Clever Pivot: Analyst

Donegal Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGICA#NASDAQ">DGICA</a>) is preparing to release its quarterly earnings on Thursday, 2025-04-24. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Donegal Gr to report an earnings per share (EPS) of $0.34.
Anticipation surrounds Donegal Gr's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.43, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Donegal Gr's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>0.10</td>
<td>0.07</td>
<td>0.23</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.69</td>
<td>0.46</td>
<td>0.11</td>
<td>0.13</td>
</tr>
<tr>
<td>Price Change %</td>
<td>0.0%</td>
<td>-4.0%</td>
<td>0.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434986_0.png" alt="eps graph" />
<h3>Performance of Donegal Gr Shares</h3>
Shares of Donegal Gr were trading at $18.64 as of April 22. Over the last 52-week period, shares are up 34.22%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/DGICA/earnings">To track all earnings releases for Donegal Gr visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DGICA

Preview: Donegal Gr's Earnings

Universal Insurance Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UVE#NYSE">UVE</a>) is preparing to release its quarterly earnings on Thursday, 2025-04-24. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Universal Insurance Hldgs to report an earnings per share (EPS) of $1.12.
Universal Insurance Hldgs bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.16, leading to a 9.26% increase in the share price the following trading session.
Here's a look at Universal Insurance Hldgs's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.09</td>
<td>-0.96</td>
<td>1.15</td>
<td>1.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.25</td>
<td>-0.73</td>
<td>1.18</td>
<td>1.07</td>
</tr>
<tr>
<td>Price Change %</td>
<td>9.0%</td>
<td>-4.0%</td>
<td>-4.0%</td>
<td>-4.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434977_0.png" alt="eps graph" />
<h3>Performance of Universal Insurance Hldgs Shares</h3>
Shares of Universal Insurance Hldgs were trading at $23.38 as of April 22. Over the last 52-week period, shares are up 14.95%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/UVE/earnings">To track all earnings releases for Universal Insurance Hldgs visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Universal Insurance Hldgs's Earnings

SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) will release its quarterly earnings report on Thursday, 2025-04-24. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate SPS Commerce to report an earnings per share (EPS) of $0.85.
The announcement from SPS Commerce is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.02, leading to a 13.8% drop in the share price on the subsequent day.
Here's a look at SPS Commerce's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.87</td>
<td>0.83</td>
<td>0.77</td>
<td>0.73</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.89</td>
<td>0.92</td>
<td>0.80</td>
<td>0.86</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-14.000000000000002%</td>
<td>-11.0%</td>
<td>2.0%</td>
<td>6.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434965_0.png" alt="eps graph" />
<h3>Tracking SPS Commerce's Stock Performance</h3>
Shares of SPS Commerce were trading at $129.72 as of April 22. Over the last 52-week period, shares are down 21.18%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<h3>Analyst Insights on SPS Commerce</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on SPS Commerce.
SPS Commerce has received a total of 8 ratings from analysts, with the consensus rating as Buy. With an average one-year price target of $194.88, the consensus suggests a potential 50.23% upside.
<h3>Peer Ratings Comparison</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of MARA Holdings, Informatica and Q2 Holdings, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Buy trajectory for MARA Holdings, with an average 1-year price target of $21.8, suggesting a potential 83.19% downside.</li>
<li>Analysts currently favor an Neutral trajectory for Informatica, with an average 1-year price target of $22.29, suggesting a potential 82.82% downside.</li>
<li>Analysts currently favor an Buy trajectory for Q2 Holdings, with an average 1-year price target of $112.38, suggesting a potential 13.37% downside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
Within the peer analysis summary, vital metrics for MARA Holdings, Informatica and Q2 Holdings are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPS Commerce</td>
<td>Buy</td>
<td>17.90%</td>
<td>$115.32M</td>
<td>2.09%</td>
</tr>
<tr>
<td>MARA Holdings</td>
<td>Buy</td>
<td>36.76%</td>
<td>$-52.79M</td>
<td>15.13%</td>
</tr>
<tr>
<td>Informatica</td>
<td>Neutral</td>
<td>-3.79%</td>
<td>$348.37M</td>
<td>0.41%</td>
</tr>
<tr>
<td>Q2 Holdings</td>
<td>Buy</td>
<td>12.91%</td>
<td>$96.34M</td>
<td>0.03%</td>
</tr>
</tbody>
</table>

Key Takeaway:
SPS Commerce ranks at the top for Revenue Growth and Gross Profit among its peers. It is in the middle for Return on Equity.
<h3>Delving into SPS Commerce's Background</h3>
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. Its products are; Fulfillment, Analytics, and Other products like Assortment and Community also it provides one-time services such as professional services and testing and certification. The group derives revenue from subscription-based recurring revenue services.
<h3>Unraveling the Financial Story of SPS Commerce</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: SPS Commerce's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2024, the company achieved a revenue growth rate of approximately 17.9%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 10.27%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.09%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.73%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.01.
<a href="https://www.benzinga.com/quote/SPSC/earnings">To track all earnings releases for SPS Commerce visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SPSC

SPS Commerce's Earnings Outlook

FirstCash Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) is gearing up to announce its quarterly earnings on Thursday, 2025-04-24. Here's a quick overview of what investors should know before the release.
Analysts are estimating that FirstCash Hldgs will report an earnings per share (EPS) of $1.79.
The announcement from FirstCash Hldgs is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
Last quarter the company beat EPS by $0.11, which was followed by a 2.9% drop in the share price the next day.
Here's a look at FirstCash Hldgs's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.01</td>
<td>1.62</td>
<td>1.32</td>
<td>1.52</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.12</td>
<td>1.67</td>
<td>1.37</td>
<td>1.55</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>3.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434955_0.png" alt="eps graph" />
<h3>Tracking FirstCash Hldgs's Stock Performance</h3>
Shares of FirstCash Hldgs were trading at $121.61 as of April 22. Over the last 52-week period, shares are up 5.79%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on FirstCash Hldgs</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on FirstCash Hldgs.
The consensus rating for FirstCash Hldgs is Outperform, based on 1 analyst ratings. With an average one-year price target of $137.0, there's a potential 12.66% upside.
<h3>Comparing Ratings with Peers</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Credit Acceptance and Enova International, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Credit Acceptance, with an average 1-year price target of $475.0, suggesting a potential 290.59% upside.</li>
<li>Analysts currently favor an Buy trajectory for Enova International, with an average 1-year price target of $134.5, suggesting a potential 10.6% upside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary outlines pivotal metrics for Credit Acceptance and Enova International, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>FirstCash Hldgs</td>
<td>Outperform</td>
<td>3.72%</td>
<td>$433.69M</td>
<td>4.12%</td>
</tr>
<tr>
<td>Credit Acceptance</td>
<td>Neutral</td>
<td>14.89%</td>
<td>$351.10M</td>
<td>8.95%</td>
</tr>
<tr>
<td>Enova International</td>
<td>Buy</td>
<td>25.01%</td>
<td>$336.05M</td>
<td>5.36%</td>
</tr>
</tbody>
</table>

Key Takeaway:
FirstCash Hldgs ranks highest in gross profit among its peers. It is in the middle for revenue growth and return on equity.
<h3>Discovering FirstCash Hldgs: A Closer Look</h3>
FirstCash Holdings Inc operates pawn stores in the United States and Latin America. Its primary business involves making small loans secured by personal property. The the company has three reportable segments: U.S. pawn; Latin America pawn; and Retail POS payment solutions (AFF). It derives majority revenue from U.S. Pawn segment. These pawn loans give the borrower the option of either repaying the loans with interest or forfeiting the property without further penalty. Geographically operates in USA, Mexico, Latin America, with maximum revenue from USA.
<h3>FirstCash Hldgs: Financial Performance Dissected</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Positive Revenue Trend: Examining FirstCash Hldgs's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 3.72% as of 31 December, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 9.45%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): FirstCash Hldgs's ROE excels beyond industry benchmarks, reaching 4.12%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.88%, the company showcases effective utilization of assets.
Debt Management: FirstCash Hldgs's debt-to-equity ratio is below the industry average. With a ratio of 1.0, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/FCFS/earnings">To track all earnings releases for FirstCash Hldgs visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FCFS

What to Expect from FirstCash Hldgs's Earnings

Interpublic Gr of Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>) is gearing up to announce its quarterly earnings on Thursday, 2025-04-24. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Interpublic Gr of Cos will report an earnings per share (EPS) of $0.26.
Interpublic Gr of Cos bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
The company's EPS missed by $0.06 in the last quarter, leading to a 0.67% increase in the share price on the following day.
Here's a look at Interpublic Gr of Cos's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.17</td>
<td>0.7</td>
<td>0.59</td>
<td>0.35</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.11</td>
<td>0.7</td>
<td>0.61</td>
<td>0.36</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434937_0.png" alt="eps graph" />
<h3>Tracking Interpublic Gr of Cos's Stock Performance</h3>
Shares of Interpublic Gr of Cos were trading at $23.9 as of April 22. Over the last 52-week period, shares are down 22.99%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/IPG/earnings">To track all earnings releases for Interpublic Gr of Cos visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Interpublic Gr of Cos's Earnings Expectations

Darling Ingredients (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAR#NYSE">DAR</a>) is set to give its latest quarterly earnings report on Thursday, 2025-04-24. Here's what investors need to know before the announcement.
Analysts estimate that Darling Ingredients will report an earnings per share (EPS) of $0.23. 
The market awaits Darling Ingredients's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
In the previous earnings release, the company beat EPS by $0.15, leading to a 3.25% increase in the share price the following trading session.
Here's a look at Darling Ingredients's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.48</td>
<td>0.40</td>
<td>0.45</td>
<td>0.5</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.63</td>
<td>0.11</td>
<td>0.49</td>
<td>0.5</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>4.0%</td>
<td>-2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745434928_0.png" alt="eps graph" />
<h3>Market Performance of Darling Ingredients's Stock</h3>
Shares of Darling Ingredients were trading at $30.66 as of April 22. Over the last 52-week period, shares are down 32.79%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<h3>Analyst Observations about Darling Ingredients</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Darling Ingredients.
Analysts have provided Darling Ingredients with 4 ratings, resulting in a consensus rating of Buy. The average one-year price target stands at $45.25, suggesting a potential 47.59% upside.
<h3>Analyzing Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of Ingredion, Limoneira and Bunge Global, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Ingredion, with an average 1-year price target of $150.0, suggesting a potential 389.24% upside.</li>
<li>Analysts currently favor an Neutral trajectory for Limoneira, with an average 1-year price target of $23.0, suggesting a potential 24.98% downside.</li>
<li>Analysts currently favor an Neutral trajectory for Bunge Global, with an average 1-year price target of $80.75, suggesting a potential 163.37% upside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
The peer analysis summary offers a detailed examination of key metrics for Ingredion, Limoneira and Bunge Global, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Darling Ingredients</td>
<td>Buy</td>
<td>-12.17%</td>
<td>$333.76M</td>
<td>2.28%</td>
</tr>
<tr>
<td>Ingredion</td>
<td>Neutral</td>
<td>-6.30%</td>
<td>$449M</td>
<td>2.41%</td>
</tr>
<tr>
<td>Limoneira</td>
<td>Neutral</td>
<td>-13.66%</td>
<td>$-365K</td>
<td>-1.80%</td>
</tr>
<tr>
<td>Bunge Global</td>
<td>Neutral</td>
<td>-9.33%</td>
<td>$1.08B</td>
<td>6.01%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Darling Ingredients ranks at the bottom for Revenue Growth among its peers. It also ranks at the bottom for Gross Profit. However, it ranks in the middle for Return on Equity.
<h3>Get to Know Darling Ingredients Better</h3>
Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries. It collects and transforms all aspects of animal by-product streams into ingredients, including gelatin, fats, proteins, pet food ingredients, fertilizers. Also, the company recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. Darling has three primary business segments which are feed ingredients contributing the majority of revenue, food ingredients, and fuel ingredients. It provides grease trap services for food businesses and sells various equipment for collecting and delivering cooking oil. The company derives the majority of its revenue from customers in North America.
<h3>Darling Ingredients: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Decline in Revenue: Over the 3 months period, Darling Ingredients faced challenges, resulting in a decline of approximately -12.17% in revenue growth as of 31 December, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Darling Ingredients's net margin is impressive, surpassing industry averages. With a net margin of 7.19%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Darling Ingredients's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.28% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Darling Ingredients's ROA excels beyond industry benchmarks, reaching 0.99%. This signifies efficient management of assets and strong financial health.
Debt Management: Darling Ingredients's debt-to-equity ratio surpasses industry norms, standing at 0.97. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<a href="https://www.benzinga.com/quote/DAR/earnings">To track all earnings releases for Darling Ingredients visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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