Genmab (NASDAQ:GMAB) Stock

GENMAB A/S -SP ADR

Genmab

Genmab is a Copenhagen-based biotechnology company specializing in antibody therapeutics for the treatment of cancer. Genmab's proprietary antibody technologies are DuoBody, HexaBody, DuoHexaBody, and HexElect. Johnson & Johnson partnered with Genmab to create Darzalex, which is regarded as the standard of care for multiple myeloma and is Genmab's leading product. Genmab also has Tepezza for thyroid eye disease (partnered with Horizon), Kesimpta for relapsing multiple sclerosis (partnered with Novartis), Rybrevant (partnered with Johnson & Johnson) for non-small cell lung cancer (NSCLC), Tivdak (partnered with Seagen) for cervical cancer, and Epkinly (partnered with AbbVie) for diffuse large B-cell lymphoma. Genmab has several pipeline candidates targeting other oncologic indications.

Genmab AS

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) reported quarterly earnings of $11.30 per share which beat the analyst consensus estimate of $11.14 by 1.44 percent. This is a 15.19 percent increase over earnings of $9.81 per share from the same period last year. The company reported quarterly sales of $5.28 billion which missed the analyst consensus estimate of $5.60 billion by 5.72 percent. This is a 11.59 percent increase over sales of $4.73 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

News

BlackRock Q1 2025 Adj EPS $11.30 Beats $11.14 Estimate, Sales $5.28B Miss $5.60B Estimate

Mira Murati, the former chief technology officer of ChatGPT-parent OpenAI, is reportedly seeking to raise a staggering $2 billion seed round for her new AI venture, Thinking Machines Lab.
What Happened: The amount is twice the amount Murati was targeting just under two months ago, when she was said to be seeking around $1 billion at a $9 billion valuation, <a href="https://www.businessinsider.com/mira-murati-new-ai-startup-thinking-machines-funding-2025-4">reported</a> Business Insider, citing people familiar with the matter.
If confirmed, it would be one of the largest seed rounds in tech history, dwarfing previous records and reaffirming the continued investor frenzy around artificial intelligence.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44566020/arm-aims-for-50-data-center-cpu-market-share-by-2025-challenging-intel-and-amd">Arm Aims for 50% Data Center CPU Market Share by 2025, Challenging Intel and AMD</a>
Consider OpenAI cofounder Ilya Sutskever, who raised <a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">$1 billion in seed funding</a> for his new venture, Safe Superintelligence — a company that has already been pegged with a massive <a href="https://www.benzinga.com/tech/25/02/43772135/ex-openai-chief-scientist-ilya-sutskevers-ai-startup-valued-at-30-billion-in-latest-funding-round-report">$30 billion valuation</a>.
Another notable example is Sierra, a conversational AI startup launched in 2023 by Bret Taylor, who also chairs OpenAI and previously co-led Salesforce. That company has reportedly <a href="https://www.benzinga.com/news/24/10/41591558/bret-taylors-ai-startup-sierra-hits-4-5b-valuation-just-a-year-after-launch-openai-chairs-latest-ven">reached a valuation of $4.5 billion</a>.
It also reflects a broader trend: seed rounds, especially in AI, are getting bigger. In 2015, the largest seed round was just $50 million. In 2025, PitchBook lists the largest closed seed at $200 million, <a href="https://fortune.com/2025/04/10/mira-murati-2-billion-seed-raise-ai-boom-economic-chaos/">noted</a> Fortune.
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Why It Matters: Murati launched Thinking Machines shortly after <a href="https://www.benzinga.com/news/24/09/41037848/openai-cto-mira-murati-steps-down-i-want-to-create-the-time-and-space-to-do-my-own-exploration-elon">departing OpenAI in late 2024</a>. Though details of the company's product or service remain vague, its website states its mission is "to make AI systems more widely understood, customizable, and generally capable."
Thinking Machines&#8217; <a href="https://in.benzinga.com/tech/25/02/43803027/mark-zuckerbergs-meta-and-sam-altmans-chatgpt-parent-bleed-talent-to-ex-open-ai-cto-mira-muratis-new-ai-venture">team includes OpenAI veterans</a> such as chief scientist John Schulman, who co-led the development of ChatGPT, and advisors Alec Radford and Bob McGrew. Schulman reportedly left Anthropic after a short tenure to reunite with Murati on the new venture.
Meanwhile, earlier this month, OpenAI also secured a historic $40 billion funding round, pushing its valuation to $300 billion. Major backers in the round include SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
According to data from PitchBook, this marks the <a href="https://www.benzinga.com/25/04/44580172/openai-finalizes-historic-40-billion-funding-round-valuing-company-at-300-billion-with-backing-from-softbank-and-microsoft">largest funding round ever recorded</a> and nearly doubles OpenAI's prior valuation of $157 billion.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://benzinga.com/25/03/44554189/openai-and-microsoft-back-mcp-standard-in-major-shift-toward-interoperable-ai-agents-that-can-think-click-and-navigate-the-web-but-google-ceo-sundar-pichai-appears-to-be-mulling-over-it-in-shakespearean-fashion-to-mcp-or-not-to-mcp" target="_blank" rel="noreferrer noopener">OpenAI And Microsoft Back MCP Standard For Web-Surfing AI Agents; Google&#8217;s Sundar Pichai Asks A Shakespearean Question</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Media

MSFT

SFTBF

SFTBY

Former OpenAI CTO Mira Murati Targets Record-Breaking $2 Billion Seed Round For New AI Startup

The European Union and China have agreed to explore setting minimum prices for Chinese-made electric vehicles as an alternative to tariffs imposed last year, a European Commission spokesperson said Thursday.
What Happened: EU Trade Commissioner Maros Sefcovic spoke with Chinese Commerce Minister Wang Wentao within the past 24 hours, with negotiations set to begin immediately, reported Reuters.
The potential pricing agreement would replace EU tariffs currently ranging from 17.0% for BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) to 35.3% for SAIC, on top of the standard 10% car import duty imposed last October.
&#8220;Any minimum prices would need to be as effective and enforceable as the EU tariffs,&#8221; Sefcovic has previously stated, noting that a single minimum price would likely be inadequate for complex products like cars.
See Also: <a href="https://www.benzinga.com/markets/25/04/44756353/xi-jinping-says-there-are-no-winners-in-tariff-war-as-china-slaps-125-tariffs-on-us-goods-urges-trump-to-immediately-correct-wrongdoings">Xi Jinping Says &#8216;There Are No Winners In Tariff War&#8217; As China Slaps 125% Tariffs On US Goods, Urges Trump To Immediately Correct &#8216;Wrongdoings&#8217;</a>
Why It Matters: The negotiations come amid escalating global trade tensions, with U.S. President Donald Trump recently announcing sweeping new tariffs.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk reportedly appealed directly to Trump to reverse these policies, advocating instead for a &#8220;free trade zone&#8221; between <a href="https://www.benzinga.com/news/25/04/44735140/most-people-dont-have-the-balls-to-do-it-says-mark-cuban-praising-musk-for-going-all-in-with-his-own-money-for-his-startups">Europe and the United States</a>. &#8220;At the end of the day, I hope it&#8217;s agreed that both Europe and the United States should move ideally to a zero-tariff situation,&#8221; Musk said during an Italian political event.
Despite Musk&#8217;s significant <a href="https://www.benzinga.com/markets/equities/25/04/44679026/elon-musk-made-unsucessful-appeals-to-trump-to-reverse-new-tariffs-as-tesla-likely-to-take-a-hit-report">political contributions to Republicans and his advisory role to Trump</a>, his intervention has been unsuccessful. Tesla&#8217;s stock has declined by more than 33.45% this year amid market uncertainty.
Meanwhile, the U.S. electric vehicle <a href="https://www.benzinga.com/25/04/44755934/us-q1-ev-sales-data-shows-106-yoy-growth-tesla-experiences-decline-but-still-dominates-domestic-ev-sales">market continues to grow</a>, with sales increasing 10.6% year-over-year in the first quarter of 2025. Tesla maintains market leadership with a 43.5% share despite an 8.6% sales decline, followed by General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) at 8.9% and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) at 7.7%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/25/04/44754594/gold-miners-rally-as-bullion-hits-3212-record-trump-tariffs-fuel-over-20-year-to-date-surge-across-sector">Gold Miners Rally As Bullion Hits $3,212: Trump Tariffs Fuel Over 20% Year-To-Date Surge Across Sector</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.

Global

Markets

BYDDY

TSLA

Europe, China Eye EV Price Pact To Avert Trump Tariff Escalation After Tesla CEO Elon Musk Pushes For Zero EU Tariffs Amid Declining Sales

The Trump administration announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains">90-day halt on most tariffs</a>, sending global stocks on the rise after a period of uncertainty. However, U.S. President Donald Trump has refused to implement a halt on the 25% Tariffs on the automotive sector, much to the <a href="https://www.benzinga.com/25/04/44729157/michigan-auto-groups-criticize-trump-for-not-halting-auto-tariffs">criticism of stakeholders</a> in the automotive industry as well as policymakers.
What happened: In a new report published by Michigan-based Center for Automotive Research, the organization highlights how the Trump administration's 25% tariffs on the auto sector could cost the industry over $108 billion.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8; New CAR Analysis Alert! &#x1f6a8; We&#39;ve just released an analysis on the impact of <a href="https://twitter.com/hashtag/tariffs?src=hash&amp;ref_src=twsrc%5Etfw">#tariffs</a> on imported <a href="https://twitter.com/hashtag/auto?src=hash&amp;ref_src=twsrc%5Etfw">#auto</a> parts &amp; light vehicles. The modern auto <a href="https://twitter.com/hashtag/SupplyChain?src=hash&amp;ref_src=twsrc%5Etfw">#SupplyChain</a> is complex, and these tariffs have significant implications. Download the full report here: <a href="https://t.co/1kaa2dKlFQ">https://t.co/1kaa2dKlFQ</a> <a href="https://t.co/Sj1kaN5IRn">pic.twitter.com/Sj1kaN5IRn</a>
&mdash; Center for Automotive Research (@cargroup) <a href="https://twitter.com/cargroup/status/1910392994101862792?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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The report also shows that the administration's tariffs will cost the three Detroit-based auto manufacturers, namely General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and Jeep and Chrysler parent company Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) nearly $42 billion.
Why it matters: The tariffs imposed on the Auto sector have forced companies to rethink their strategies. Stellantis scaled back on production in Canada and Mexico, which affected over 5 plants in the U.S., as the company also temporarily laid off 900 employees. Reports also suggest that General Motors has increased truck output at a plant in Indiana.
CAR says the study emphasizes the complexity of the modern automotive supply chain. Dr. K. Venkatesh Prasad, who is the Senior Vice President and Chief Innovation Officer at CAR, said, "automakers and their suppliers are often multinational companies with facilities spread out across the world, making it difficult to discern how much of a vehicle is domestically produced."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">DO NOT RETALIATE AND YOU WILL BE REWARDED
&mdash; The White House (@WhiteHouse) <a href="https://twitter.com/WhiteHouse/status/1910058352278708638?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
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This study comes in as the Trump administration shows no sign of backing down from its trade war with China, imposing a 125% tariff on Chinese goods. China responded with 84% tariffs on U.S. imports. The White House handle also shared a post on the social media platform X, warning countries to ‘not retaliate'.
Price action: STLA stock experienced a 30.28% year-to-date decline, currently trading at $8.91, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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:
<ul>
<li><a href="https://www.benzinga.com/25/04/44705972/ford-motor-general-motors-to-witness-higher-demand-as-american-automotives-reap-the-fruit-of-protectionism-says-expert-heres-a-list-of-potential-gainers-and-losers">Ford, GM To Witness &#8216;Higher Demand&#8217; As American Carmakers Set To &#8216;Reap The Fruit Of Protectionism,&#8217; Says Expert: Here&#8217;s A List Of Potential Gainers And Losers From Trump Tariffs</a></li>
</ul>
Photo courtesy: Shutterstock

Politics

FORD

STLA

Trump's 25% Tariffs Could Cost Auto Companies $108 Billion: Report

U.S. stock futures were volatile on Friday after losing steam on Thursday. Futures of major benchmark indices were lower in premarket.
Data from the Bureau of Labor Statistics on Thursday showed the<a href="https://www.benzinga.com/news/econ-s/25/04/44733390/march-inflation-rate-cools-far-more-than-expected-raises-hopes-for-near-term-fed-rate-cuts"> annual inflation rate falling</a> to a six-month low of 2.4% in March, down from 2.8% in February and below the expected 2.6%.
Monthly, the Consumer Price Index contracted by 0.1%, a decrease from the previous month&#8217;s 0.2% increase and below the anticipated 0.1% rise, marking the lowest monthly reading since May 2020.
Investors will keep an eye on the headline and core producer price index data for March and April&#8217;s consumer sentiment data, slated to be released later today. Major banks will kick off the earnings season as they report earnings before the market opens on Friday.
The 10-year Treasury bond yielded 4.40% and the two-year bond was at 3.80%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 61.6% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting. 
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<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.49%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.34%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.33%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.32%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Friday. The SPY was down 0.52% to $521.85, while the QQQ declined 0.58% to $443.60, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Energy, information technology, and communication services sectors led Thursday&#8217;s U.S. stock market decline, overshadowing a rise in consumer staples.
The broader market saw the Dow Jones briefly plunge over 1,000 points as investors considered economic risks despite a newly announced 90-day tariff pause.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was down 4%, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined 6%, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) slipped 7% as these were the significant individual stock decliners.
On the economic front, the Consumer Price Index fell to 2.4% in March, below expectations, with monthly inflation turning negative for the first time since May 2020.
After Thursday&#8217;s fall, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.
The Dow Jones index dropped 1,015 points or 2.50% to 39,593.66, whereas the S&amp;P 500 index declined 3.46% to 5,268.05. Nasdaq Composite tumbled to end 4.31% lower at 16,387.31, and the small-cap gauge, Russell 2000, slipped 4.27% to 1,831.39.
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<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-4.31%</td>
<td>16,387.31</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-3.46%</td>
<td>5,268.05</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-2.50%</td>
<td>39,593.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-4.27%</td>
<td>1,831.39</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
As the U.S. Core consumer price inflation excluding food and energy moved down to 2.81%, the lowest level since March 2021. And the overall U.S. CPI moved down to 2.39% in March, the lowest level since February 2021.
&#8220;Fed is likely to cut rates again on June 18th,&#8221; said Charlie Bilello from Creative Planning in an X post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Overall US CPI moved down to 2.39% in March, the lowest level since February 2021. US Core CPI (ex-Food/Energy) moved down to 2.81%, the lowest level since March 2021. Based on this data the Fed is likely to cut rates again on June 18th (25 bps cut down to 4.00-4.25%). <a href="https://t.co/2qI8nO4nDz">pic.twitter.com/2qI8nO4nDz</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1910313873929892200?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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He added that this data &#8220;should be enough for the Fed to resume cutting rates in June.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">US Core CPI Inflation is back below 3% for the first time in 4 years. This should be enough for the Fed to resume cutting rats in June.<a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/pvOHrTLqaL">pic.twitter.com/pvOHrTLqaL</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1910315991218659582?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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As tech stocks experienced significant volatility following President Donald Trump‘s tariff announcements, Alexander Morris, CEO of F/m Investments, viewed the pullback as a buying opportunity for select Magnificent 7 companies.
"We have long been investors in the Mag 7 — not all of them, but a handful of them — and you'll see us more into some Apple, which seems to be at a discount," Morris told Reuters. "We picked up some Meta, which seemed to have done well."
Morris recommends investors maintain a disciplined portfolio allocation, like a 60-40 mix, through market volatility, noting the repeated resurgence of such strategies.
He advises choosing an allocation and sticking with it through market cycles until life events necessitate a change, emphasizing its self-balancing nature. Morris also cautions against market timing, as significant returns often occur within a few key days throughout the year.
&#8220;The concern going forward is that prices will rise and the economy will slow,&#8221; said Cooper Howard, director, fixed income strategy at the Schwab Center for Financial Research. &#8220;This will put the Fed in a difficult place.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Friday:
<ul>
<li>The headline and core producer price index data for March will be released by 8:30 a.m. ET.</li>
</ul>
<ul>
<li>April&#8217;s preliminary consumer sentiment data will be announced, while St. Louis Fed President Alberto Musalem speaks at 10:00 a.m. ET.</li>
</ul>
<ul>
<li>New York Fed President John Williams will speak at 11:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) was up 0.019% in premarket on Friday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $2.20 per share on revenue of $16.57 billion.</li>
</ul>
<ul>
<li>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) was 1.13% lower as Wall Street expects it to report earnings of $1.24 per share on revenue of $20.75 billion before the opening bell.</li>
</ul>
<ul>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) rose 0.7% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $4.61 per share on revenue of $44.11 billion.</li>
</ul>
<ul>
<li>Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) dropped 1.16% as Wall Street expects it to report earnings of $1.51 per share on revenue of $4.77 billion before the opening bell.</li>
</ul>
<ul>
<li>BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) was 0.14% higher as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $11.19 per share on revenue of $5.53 billion.</li>
</ul>
<ul>
<li>Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) was 0.32% lower as Wall Street expects it to report earnings of 52 cents per share on revenue of $1.95 billion before the opening bell.</li>
</ul>
<ul>
<li>Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) declined 1.68% after reporting estimated consolidated shipments for the three months ending March 31 at 1.2 million units, representing a 9% year-on-year decline.</li>
</ul>
<ul>
<li>MSP Recovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSPR#NASDAQ">MSPR</a>) surged 171.88% after securing massive $1.2 billion debt relief via strategic partnerships and creation of an independent servicer.</li>
</ul>
<ul>
<li>Calamos Global Dynamic Income Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHW#NASDAQ">CHW</a>) jumped 43.10% after strategically choosing Pretoria&#8217;s LightDeepEarth as its preferred assay lab to boost assay result turnaround for its Heavy Mineral Sands program and improve operational efficiency.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.15% to hover around $60.22 per barrel.
Gold Spot US Dollar advanced 1.30% to hover around $3,216.91 per ounce. Its fresh record high stood at $3,227.23 per ounce. The U.S. Dollar Index spot was lower by 1.69% at the 99.163 level.
Asian markets were mixed on Friday as India's S&amp;P BSE Sensex, China&#8217;s CSI 300, and Hong Kong's Hang Seng index advanced. Whereas, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi index declined. European markets were mostly lower in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Government

Market Summary

Bonds

Guidance

Futures

Commodities

Treasuries

Economics

Federal Reserve

Pre-Market Outlook

Analyst Ratings

ETFs

AAPL

FAST

MSPR

NVDA

US Stocks Likely To Open Lower As Volatility Persists Before Bank Earnings: 'Fed Is Likely To Cut Rates Again On June 18th,' Says Expert

<a href="https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-11-25?mod=WSJ_home_mediumtopper_pos_1" title="https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-11-25?mod=WSJ_home_mediumtopper_pos_1">https://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-11-25?mod=WSJ_home_mediumtopper_pos_1</a>

Macro Economic Events

China's Finance Ministry Earlier Announced It Will Raise Additional Tariffs On U.S. Goods To 125% From 84%

<a href="https://www.reuters.com/business/autos-transportation/tesla-suspends-taking-new-orders-model-s-model-x-chinese-website-2025-04-11/" title="https://www.reuters.com/business/autos-transportation/tesla-suspends-taking-new-orders-model-s-model-x-chinese-website-2025-04-11/">https://www.reuters.com/business/autos-transportation/tesla-suspends-taking-new-orders-model-s-model-x-chinese-website-2025-04-11/</a>

Reuters Reported Earlier, Tesla Stopped Taking New Orders For Model S And Model X On It's Chinese Website

Shares of argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) rose sharply in today's pre-market trading after the company announced the FDA approval of VYVGART Hytrulo prefilled syringe for self-injection in generalized myasthenia gravis and <a href="https://www.benzinga.com/quote/ARGX">chronic inflammatory demyelinating polyneuropathy.</a>
argenx shares jumped 5.1% to $573.88 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MSP Recovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSPR#NASDAQ">MSPR</a>) rose 167% to $3.43 in pre-market trading as the company announced strategic term sheet providing prospective liquidity and restructuring of existing agreements to remove corporate guaranteed debt by over $1.2 billion as well as new agreements aimed at driving future growth.</li>
<li>Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) surged 73.6% to $0.0318 in pre-market trading after jumping 30% on Thursday.</li>
<li>Enzo Biochem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENZ#NYSE">ENZ</a>) gained 26.5% to $0.3300 in pre-market after dipping 22% on Thursday.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) rose 26.4% to $0.8198 in pre-market trading. Actelis Networks recently announced it received a new order to modernize Orange County&#8217;s traffic infrastructure.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) rose 25.6% to $5.10 in pre-market trading. Venus Concept announced closing of $1.1 million registered direct offering of common stock priced at-the-market under Nasdaq rules.</li>
<li>DMC Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOOM#NASDAQ">BOOM</a>) gained 21.7% to $7.90 in pre-market trading.</li>
<li>Recursion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) jumped 19.1% to $5.37 in pre-market trading.</li>
<li>Certara, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERT#NASDAQ">CERT</a>) surged 18.1% to $12.41 in pre-market trading after gaining 8% on Thursday.</li>
<li>Simulations Plus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) gained 13.7% to $29.23 in pre-market trading. The stock may be moving up after the FDA stated plans to phase out animal testing requirements for monoclonal antibodies and other drugs.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>AlTi Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTI#NASDAQ">ALTI</a>) fell 57.3% to $1.20 in pre-market trading after declining around 6% on Thursday.</li>
<li>cbdMD, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#NYSE">YCBD</a>) shares tumbled 38.9% to $0.1701 in pre-market trading. CbdMD announced shareholder approval of automatic conversion of series a preferred stock and other results from annual meeting.</li>
<li>Nexa Resources S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEXA#NYSE">NEXA</a>) fell 32% to $4.01 in today's pre-market trading.</li>
<li>Organovo Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONVO#NASDAQ">ONVO</a>) shares fell 27.1% to $1.59 in pre-market trading.</li>
<li>Palatin Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTN#NYSE">PTN</a>) fell 16.8% to $0.3510 in pre-market trading after the company announced it received a NYSE American notice of delisting.</li>
<li>Betterware de México, S.A.P.I. de C.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWMX#NYSE">BWMX</a>) shares fell 24% to $8.21 in pre-market trading. Betterware de México will report its first quarter results after the U.S. market close on Thursday, April 24.</li>
<li>Solaris Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLSR#NYSE">SLSR</a>) shares dipped 22.3% to $2.20 in pre-market trading.</li>
<li>InnovAge Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INNV#NASDAQ">INNV</a>) fell 14.9% to $2.35 in pre-market trading.</li>
<li>Costamare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMRE#NYSE">CMRE</a>) dipped 14.3% to $7.42 in pre-market trading after falling 5% on Thursday.</li>
<li>Maze Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAZE#NASDAQ">MAZE</a>) declined 12.8% to $6.62 in pre-market trading after falling 5% on Thursday.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/25/04/44734419/top-2-real-estate-stocks-that-may-keep-you-up-at-night-this-month">Top 2 Real Estate Stocks That May Keep You Up At Night This Month</a> </li>
</ul>
Photo via Shutterstock

Trading Ideas

ALTI

ARGX

ASNS

BOOM

BWMX

CERT

CMRE

INNV

MAZE

NEXA

ONVO

RXRX

SLSR

STSS

VERO

YCBD

Why Argenx Shares Are Trading Higher By 5%; Here Are 20 Stocks Moving Premarket

China announced on Thursday it would immediately restrict Hollywood film imports in retaliation for President Donald Trump&#8216;s tariff increases on Chinese goods, targeting a high-profile American export as trade tensions intensify.
What Happened: A spokesperson for the National Film Administration said, &#8220;The wrong move by the U.S. government to abuse tariffs on China will inevitably further reduce the domestic audience&#8217;s favorability towards American films. We will follow market rules, respect the audience&#8217;s choice, and moderately reduce the number of American films imported.&#8221;&nbsp;
The move could significantly impact major U.S. studios and entertainment companies with Chinese market exposure.
IMAX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) faces particular <a href="https://in.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted">exposure with 23% of its revenue derived from China</a>, where 45% of all IMAX screens are located. Despite this, the company recently reported strong performance in China during 2025&#8217;s first quarter, driven primarily by the domestic blockbuster &#8220;Ne Zha 2.&#8221;
&#8220;IMAX is benefiting from a blockbuster-heavy 2025-2026 slate and tighter cost control, especially in China,&#8221; noted Rosenblatt Securities analyst Steve Frankel, who maintains a &#8220;Buy&#8221; rating on the stock.
See Also: US Stock Futures Fall, Nikkei Crashes Over 5% As Markets Reel From Trump&#8217;s Tariff Shock
Why It Matters: Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Warner Bros Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) also face potential impacts. Disney&#8217;s Marvel superhero movie &#8220;Thunderbolts&#8221; secured permission to debut in China on Apr. 30, but the fate of other summer blockbusters remains uncertain. WBD&#8217;s stock has already fallen 21.80% over the last month amid these concerns.
The restrictions follow Beijing&#8217;s broader retaliation against Washington&#8217;s tariff hikes, which includes increasing its <a href="https://www.benzinga.com/25/04/44708618/china-retaliates-with-massive-84-tariff-hike-on-us-goods-amid-escalating-trade-war">levies on U.S. goods from 34% to 84%</a> and filing a World Trade Organization complaint.
Two influential Chinese bloggers with Communist Party connections recently suggested China would &#8220;reduce or ban the import of U.S.-made films&#8221; along with restricting American companies from <a href="https://www.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted">government procurement processes</a>.
For U.S. studios, the $600 million earned in China last year represents a small but <a href="https://www.benzinga.com/news/25/04/44717030/whats-going-on-with-warner-bros-discovery-wbd-stock">strategic portion of their global revenue</a>. However, China&#8217;s growing preference for domestic content had already created challenges for Hollywood before these new restrictions.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais" target="_blank" rel="noreferrer noopener">Obama-Era Economist Jason Furman Says Trump Tariffs ‘Now Higher &amp; More Inflationary' Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</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.

IMAX

Hollywood Becomes Collateral Damage In Trump Tariff War As China Slashes Film Imports, Says US Actions Will Inevitably Reduce 'Favorability' Towards American Films

China has significantly increased tariffs on U.S. goods from 84% to an unprecedented 125% on Friday. This move comes as a countermeasure to the Trump administration&#8217;s similar actions.
What Happened: China&#8217;s&nbsp;Customs Tariff Commission of the&nbsp;State Council has declared that any additional tariffs imposed by the U.S. will be disregarded. "Given that U.S. exports to China already have no market acceptability under the current tariff rates, if the U.S. further imposes additional tariffs on Chinese goods, China will simply ignore them,"
The commission maintains that U.S. exports to China are already struggling to find market acceptability under the current tariff rates, <a href="https://www.scmp.com/economy/china-economy/article/3306151/china-raises-tariffs-us-goods-125?module=breaking&amp;pgtype=homepage">reported</a> the South China Morning Post.
A spokesperson for the Ministry of Commerce emphasized China&#8217;s commitment to safeguarding its legitimate rights and interests, supporting the multilateral trading system, and maintaining the stability of the international economic order. 
The ministry criticized the U.S. tariff measures as &#8220;a typical act of unilateral&nbsp;bullying and coercion,&#8221; which violate&nbsp;World Trade Organization rules and&nbsp;undermine the rules-based&nbsp;multilateral trading system and international&nbsp;economic order.
The spokesperson also called on the U.S. to &#8220;immediately correct its wrongdoings and&nbsp;revoke all unilateral tariffs imposed&nbsp;on China.&#8221;
In his first reaction to President Donald Trump&#8216;s tariffs on China, Xi Jinping told visiting Spanish Prime Minister Pedro Sanchez, "There are no winners in the tariff war and standing against the world ultimately results in self-isolation," as per state news agency Xinhua.
No matter how the external environment shifts, China will maintain its resolve and focus, dedicating itself to managing its own affairs efficiently,&#8221; added Xi.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44749653/bitcoin-ethereum-xrp-dogecoin-lose-steam-trader-warns-of-new-lows-under-one-condition" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Lose Steam, Trader Warns Of &#8216;New Lows&#8217; Under One Condition &#8211; Benzinga</a>
Why It Matters: The decision to increase tariffs comes as President Donald Trump awaits negotiation talks with his &#8216;friend&#8217; Xi Jinping. 
According to China expert and political commentator Gordon Chang, the Chinese President&nbsp;is avoiding direct negotiations with President Trump to prevent <a href="https://www.benzinga.com/markets/25/04/44755977/xi-jinping-steering-clear-of-trump-negotiations-to-avoid-political-backlash-at-home-says-expert-china-doesnt-have-any-cards-in-this-game">potential political backlash</a> at home. Xi is in a difficult position where initiating a conversation with Trump about the trade war could lead to backlash from his fellow Communist Party leaders. 
Notably, China is not immune to the adverse impact from Trump&#8217;s tariffs. Goldman Sachs downgraded China&#8217;s growth forecast and warned of risk to 20 million export-linked jobs in the nation. However, the investment bank cited overall global economic gloom as a reason besides Trump&#8217;s tariffs. 
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/25/04/44728777/pence-calls-trumps-tariff-moves-misstep-cites-potential-economic-harm-to-working-families" target="_blank" rel="noreferrer noopener">Former Vice President Mike Pence Calls Trump&#8217;s Tariff Moves &#8216;Misstep,&#8217; Cites Potential Economic Harm To Working Families</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.

Xi Jinping Says 'There Are No Winners In Tariff War' As China Slaps 125% Tariffs On US Goods, Urges Trump To Immediately Correct 'Wrongdoings'

Gen Z workers are facing a sharp decline in confidence, driven by recession worries, stagnant pay, and an increasingly competitive job market, a new report finds.
What Happened: The youngest generation of workers is feeling mounting pressure from a tough economic climate, as reported by <a href="https://fortune.com/2025/04/10/gen-z-workers-confidence-record-low-recession-fears-tough-job-market-layoffs/">Fortune</a>. This is primarily attributed to mass <a href="https://www.benzinga.com/news/25/03/44277188/a-poverty-sentence-heres-why-some-say-losing-a-federal-job-is-worse-than-being-fired-in-the-private-sector">federal workforce layoffs</a> and a complex job market.
Data from&nbsp;Glassdoor&nbsp;reveals that less than half of all workers are optimistic about the future. This figure has hit&nbsp;a record low for entry-level&nbsp;employees, with only 43.4% feeling positive about their employer&#8217;s 6-month business outlook, the lowest since Glassdoor started collecting data in 2016.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44749653/bitcoin-ethereum-xrp-dogecoin-lose-steam-trader-warns-of-new-lows-under-one-condition" target="_blank" rel="noreferrer noopener">Mark Cuban Advises GenZ To &#8216;Spend Every Waking Minute Learning About AI:&#8217; Here&#8217;s A List Of AI Investment Opportunities For Long Term</a>
&#8220;Entry&nbsp;level workers have less job&nbsp;security. And so as they&nbsp;see these economic headwinds on&nbsp;the horizon, there's an understandable&nbsp;concern that they might be&nbsp;the first ones to lose&nbsp;their jobs in a recession,&nbsp;or they'll be left out&nbsp;in the cold when trying&nbsp;to find a new job,&#8221; said Daniel Zhao, Glassdoor's lead economist.
Recent data from&nbsp;LinkedIn&nbsp;also indicates that U.S. workers feel&nbsp;worse about the future than&nbsp;they did during the peak&nbsp;of the pandemic in April&nbsp;2020. The&nbsp;slowing jobs market and the&nbsp;<a href="https://www.benzinga.com/personal-finance/25/01/43303778/bill-gates-says-this-book-on-ai-will-change-every-industry-predicts-millions-of-jobs-will-vanish-by-2030">impact of AI </a>are major contributors to worker anxiety.
Stock market volatility this week, triggered by President Trump&#8217;s &#8220;reciprocal tariffs&#8221;, has further eroded workers&#8217; confidence. Despite a <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44749586/trump-averts-financial-crisis-with-tariff-pause-but-not-a-recession-josh-brown">90-day pause</a> on these tariffs, with the exception of China, economists warn that significant damage has been done.
Why It Matters: Gen Z's confidence slump reflects growing fears about job security in a volatile economy. <a href="https://www.benzinga.com/news/25/03/44277188/a-poverty-sentence-heres-why-some-say-losing-a-federal-job-is-worse-than-being-fired-in-the-private-sector">Federal layoffs</a>, <a href="https://www.benzinga.com/markets/equities/25/02/43761822/jamie-dimon-says-ai-will-change-your-jobs-but-it-may-eliminate-some-careers-as-well-reskill-and-redeploy-people">AI-driven job cuts</a>, and a <a href="https://www.benzinga.com/government/regulations/25/04/44629640/us-services-sector-slows-sharply-as-hiring-drops-tariff-pressures-mount">cooling services sector</a> are leaving young workers uncertain about their future. Entry-level optimism has hit a record low, highlighting the pressure this generation faces.
Meanwhile, billionaire investor Mark Cuban is <a href="https://www.benzinga.com/markets/25/03/44354638/mark-cuban-advises-genz-to-spend-every-waking-minute-learning-about-ai-heres-a-list-of-ai-investment-opportunities-for-long-term">encouraging Gen Z to future-proof</a> their careers by gaining skills in artificial intelligence. As AI continues to reshape industries, investors looking to tap into this transformation may want to explore key opportunities in the AI space to strengthen their portfolios.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-a" target="_blank" rel="noreferrer noopener">Steve Jobs Detested Decision Fatigue, Now Gen Z Is Copying His Style Playbook To Stay Sane, Stay Employed And Stay Out Of Trouble</a>

General

Gen Z Workers Hit Confidence Low Amid Layoffs, Stagnant Pay And Fierce Job Market

Even as President Donald Trump paused the reciprocal tariffs for 90 days on Wednesday, he later confirmed in a conversation with reporters at his Oval Office that pharmaceutical companies would face tariffs.
What Happened: The rally in pharma stocks was short-lived after the stocks reversed course on Thursday. When a reporter asked President Trump if he would go ahead and levy tariff duties on pharmaceutical stocks, he said, &#8220;Yeah, well, I will be because we want them coming back.&#8221;
&#8220;You know, we realized during COVID-19 that we don&#8217;t make our drugs and our pharmaceuticals in this country. So, I realized that, and it was a big realization,&#8221; he added.
Citing the emergency during COVID-19, he stated that he wanted the pharma companies to produce drugs in the U.S.
&#8220;We had to go to China to get drugs, we had to go to other places, we don&#8217;t make it. That&#8217;s because we let them leave, and now if they want to come back, we&#8217;re going to put tariffs on the pharmaceutical companies, and they&#8217;re going to all want to come back,&#8221; Trump said.
The pharma stocks tumbled on Thursday after Trump&#8217;s confirmation of tariffs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>-4.35%</td>
<td>-7.35%</td>
<td>-5.09%</td>
</tr>
<tr>
<td>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</td>
<td>-3.14%</td>
<td>-2.92%</td>
<td>3.99%</td>
</tr>
<tr>
<td>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>-6.10%</td>
<td>-11.15%</td>
<td>2.73%</td>
</tr>
<tr>
<td>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>-5.26%</td>
<td>-23.60%</td>
<td>-40.63%</td>
</tr>
<tr>
<td>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</td>
<td>-3.87%</td>
<td>-18.87%</td>
<td>-18.03%</td>
</tr>
<tr>
<td>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</td>
<td>-3.66%</td>
<td>10.36%</td>
<td>47.71%</td>
</tr>
<tr>
<td>Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td>-5.32%</td>
<td>-21.80%</td>
<td>-38.53%</td>
</tr>
<tr>
<td>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>-3.33%</td>
<td>8.54%</td>
<td>4.23%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>-1.51%</td>
<td>3.24%</td>
<td>-0.07%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44755181/pentagon-slashes-5-1-billion-in-accenture-deloitte-booz-allen-contracts-thats-a-lot-of-consulting">Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: &#8216;That&#8217;s A Lot Of Consulting&#8217;</a>
Why It Matters: Despite a 90-day pause on reciprocal tariffs, base global tariffs of 10% and China tariffs of 125%, along with sector-specific tariffs of 25% on steel and aluminum, auto, and auto parts remain in place. Adding to it, the President hinted that he could soon announce tariffs on pharmaceutical companies.
Here are some of the pharmaceutical industry-linked exchange-traded funds that could be impacted.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-7.02%</td>
<td>-7.51%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-7.04%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-10.13%</td>
<td>-4.37%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-14.05%</td>
<td>-11.45%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>2.88%</td>
<td>0.35%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-11.54%</td>
<td>-10.18%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-41.35%</td>
<td>-43.86%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: After Thursday&#8217;s fall, following Wednesday&#8217;s rebound, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Thursday. The SPY was down 4.38% to $524.58, while the QQQ declined 4.25% to $446.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members" target="_blank" rel="noreferrer noopener">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>
Photo courtesy: Shutterstock

ABBV

AMGN

FTXH

GILD

iShares Dow Jones US Pharmaceuticals Index Fund

KURE

PILL

Merrill Lynch Pharmaceutical HOLDRs Trust

REGN

Eli Lilly, AbbVie, Bristol Myers, Regeneron, And Other Pharma Companies Slide As Donald Trump Confirms Tariffs On Pharma Companies

<h3>Companies Reporting Before The Bell</h3>
• Innventure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INV#NASDAQ">INV</a>) is estimated to report quarterly loss at $0.15 per share on revenue of $450 thousand. 
• Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) is expected to report quarterly earnings at $2.20 per share on revenue of $16.57 billion. 
• JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is projected to report quarterly earnings at $4.61 per share on revenue of $44.11 billion. 
• Fastenal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $1.95 billion. 
• Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is likely to report quarterly earnings at $1.24 per share on revenue of $20.74 billion. 
• Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) is projected to report quarterly earnings at $1.51 per share on revenue of $4.77 billion. 
• BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is projected to report quarterly earnings at $11.14 per share on revenue of $5.59 billion. 
<h3>Companies Reporting After The Bell</h3>
• Children's Place (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLCE#NASDAQ">PLCE</a>) is projected to report quarterly earnings at $0.16 per share on revenue of $374.07 million. 
• Beam Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEEM#NASDAQ">BEEM</a>) is projected to report quarterly loss at $0.29 per share on revenue of $12.45 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BEEM

PLCE

Earnings Scheduled For April 11, 2025

Intel Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) <a href="https://www.benzinga.com/tech/25/03/44298588/lip-bu-tan-got-high-praise-from-tsmc-founder-morris-chang-for-saving-cadence-from-pretty-big-trouble-will-the-magic-work-at-the-new-intel">newly appointed CEO</a>, Lip-Bu Tan, has deep financial ties to China's tech sector, including investments in companies reportedly linked to the Chinese military.
What Happened: Tan has control over more than 40 Chinese companies and investment funds and holds minority stakes in over 600 others through firms he owns or manages — including at least eight with reported ties to China's People's Liberation Army (PLA), reported Reuters.
The report, based on U.S. and Chinese corporate filings, found that Tan retains control or minority stakes in hundreds of Chinese tech firms via Walden International and Hong Kong-based holding companies Sakarya Limited and Seine Limited. In many cases, he co-invested alongside Chinese government entities or state-owned enterprises.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China's $138 Billion Push — Warn America Will Lose The Race Without It</a>
Among the companies identified are suppliers and contractors for the PLA, including partnerships with China Electronics Corporation, a key PLA supplier sanctioned by the first Donald Trump administration in 2020.
Tan was also an early investor in Semiconductor Manufacturing International Corp (SMIC), China's largest chip foundry, which is under U.S. sanctions due to military links.
Why It Matters: While it&#8217;s not illegal for U.S. citizens to invest in Chinese companies unless they are specifically blacklisted, Tan's ties have raised questions given Intel's central role in producing advanced chips for the U.S. Department of Defense.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
The company <a href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday">holds a $3 billion defense contract</a> and is involved in multiple national security-focused semiconductor initiatives.
In response to the publication, Intel said that Tan had completed a required director and officer questionnaire disclosing any potential conflicts. "We handle any potential conflicts appropriately and provide disclosures as required by SEC rules," a spokesperson said.
Intel did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Tan's appointment comes at a <a href="https://www.benzinga.com/media/25/03/44577045/intels-new-ceo-lip-bu-tan-says-trump-administration-ready-to-help-beleagured-chipmaker-warns-bureaucracy-kills-innovation">critical time for Intel</a> as it seeks to reclaim leadership in advanced chip manufacturing.
Critics argue that Tan's extensive financial involvement in China's tech and military-linked sectors may present a conflict of interest or at least warrant heightened scrutiny, the report noted.
"The simple fact is that Mr. Tan is unqualified to serve as the head of any company competing against China, let alone one with actual intelligence and national security ramifications like Intel," said Andrew King of Bastille Ventures.
Others, however, defend Tan's deep experience in global tech investing. "He was at the top of … most investors' lists," said Bernstein analyst Stacey Rasgon. "He's a legend."
While Tan has reportedly divested some Chinese holdings, the publication found no full accounting of those exits. Chinese corporate databases continue to list many of his investments as active.
Price Action: Intel's stock has dropped 1.68% year-to-date and is down 47.17% over the past 12 months, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Despite the decline, Intel holds a respectable growth score of 3.48% based on Benzinga Edge Stock Rankings. You can see how it <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">compares to other companies by clicking here</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

INTC

New Intel CEO Lip-Bu Tan Linked To Hundreds Of Chinese Tech Firms, Including Companies Tied To China's Military: Report

Amid the escalating trade war between the United States and China, Chinese President&nbsp;Xi Jinping&nbsp;is reportedly facing a political dilemma, says China expert and political commentator Gordon Chang.
What Happened: Chang stated that Xi is in a difficult position where initiating a conversation with President Donald Trump about the trade war could lead to backlash from his fellow Communist Party leaders. &#8220;Xi Jinping has configured the&nbsp;Chinese political system so that&nbsp;only the most hostile answers&nbsp;are considered to be acceptable,&nbsp;which means he&#8217;s boxed himself in,&#8221; Chang explained at an interview with <a href="https://www.foxbusiness.com/media/china-expert-reveals-why-xi-wont-budge-tariffs-with-trump">Fox Business</a>&nbsp;on Thursday.
&#8220;China&#8217;s in a position where it can&#8217;t do what it absolutely needs to do,&#8221; the expert added. 
Chang, who penned &#8220;Plan Red: China&#8217;s Project to Destroy America,&#8221; concurred with Treasury Secretary Scott Bessent&#8217;s opinion that China&#8217;s recent escalation in the trade war was a &#8220;loser&#8221; move. 
On Wednesday, Bessent stated, &#8220;They are the surplus country&#8230;.Their exports to the U.S. are five times our exports to China. They can raise their tariffs, but so what?&#8221;
China &#8220;doesn&#8217;t have any cards in this&#8221; game, Chang stated, implying that while China is &#8220;holding a pair of twos,&#8221; Trump has a &#8220;royal straight flush.&#8221;
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44754349/bitcoins-final-crash-peter-schiff-predicts-2025-crisis-will-end-what-2008-created" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Final Crash? Peter Schiff Predicts 2025 Crisis Will End What 2008 Created &#8211; Benzinga</a>
Why It Matters: Following Trump&#8217;s decision to raise tariffs against China to 104%, China retaliated by raising tariffs on U.S. <a href="https://www.benzinga.com/25/04/44708618/china-retaliates-with-massive-84-tariff-hike-on-us-goods-amid-escalating-trade-war">imports from&nbsp;34% to 84%</a>. Trump responded&nbsp;with another tariff increase on Chinese&nbsp;imports the same day, taking the percentage to 125%. China&#8217;s 84% tariff came into effect on Thursday.
This move was followed by Trump&#8217;s sudden tariff spike, which&nbsp;<a href="https://www.benzinga.com/government/regulations/25/04/44740040/chinas-growth-outlook-dims-as-trumps-125-tariffs-put-millions-of-jobs-at-risk-goldman-warns">triggered a sharp downgrade</a>&nbsp;in China&#8217;s growth forecasts by Goldman Sachs, putting up to 20 million export-linked jobs at risk. The escalating trade war and its potential impact on China&#8217;s economy put President Xi Jinping in a precarious position.
Despite hiking the tariffs, President Trump is hopeful of negotiations with the Chinese President. &#8220;I think that we&#8217;ll end up working out something that&#8217;s very good for both countries&#8221;, Trump said in the cabinet meeting on Thursday.
Chang highlighted how China believes it can pressure or intimidate Trump into backing down. However, Trump responded firmly by announcing 125% tariffs, signaling that he won&#8217;t be intimidated and that it&#8217;s China who needs to back down.
However, some experts think otherwise. Neil Thomas, a fellow for Chinese politics at the Asia Society Policy Institute&#8217;s Center for China Analysis <a href="https://abcnews.go.com/Politics/chinas-xi-jinping-playing-hardball-trump-tariffs-analysis/story?id=120692929">told </a>ABC News, &#8220;At the moment, Xi seems to be calculating that China can withstand the damage and that ultimately it&#8217;s the United States who will blink first.&#8221; 
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44655841/if-youre-going-to-do-dumb-things-because-your-stock-goes-down-warren-buffetts-old-warning-gains-steam-as-us-stocks-wipe-out-5-trillion-after-trump-tariffs" target="_blank" rel="noreferrer noopener">&#8216;If You&#8217;re Going To Do Dumb Things Because Your Stock Goes Down…:&#8217; Warren Buffett&#8217;s Old Warning Gains Steam As US Stocks Wipe Out $5 Trillion After Trump Tariffs &#8211; Benzinga</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.

Xi Jinping Steering Clear Of Trump Negotiations To Avoid Political Backlash At Home, Says Expert: China 'Doesn't Have Any Cards In This' Game

The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) will release its first-quarter financial results before the <a href="https://www.benzinga.com/quote/bk/earnings">opening bell on Friday, April 11.</a>
Analysts expect the bank to report quarterly earnings at $1.51 per share, up from $1.29 per share in the year-ago period. Bank of New York Mellon projects quarterly revenue of $4.77 billion, compared to $4.53 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 3, BNY priced $500 million public offering of depositary shares linked to 6.300% Series J Preferred Stock.
Bank of New York Mellon shares fell 3.5% to close at $76.61 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/bk/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Morgan Stanley analyst Betsy Graseck maintained an Overweight rating and cut the price target from $98 to $94 on April 7, 2025. This analyst has an accuracy rate of 61%.</li>
<li>Citigroup analyst Keith Horowitz maintained a Neutral rating and raised the price target from $82 to $85 on March 24, 2025. This analyst has an accuracy rate of 74%.</li>
<li>RBC Capital analyst Gerard Cassidy reiterated a Sector Perform rating with a price target of $90 on March 17, 2025. This analyst has an accuracy rate of 69%.</li>
<li>Wells Fargo analyst Whit Mayo maintained an Equal-Weight rating and raised the price target from $86 to $96 on March 3, 2025. This analyst has an accuracy rate of 68%.</li>
<li>UBS analyst Brennan Hawken maintained a Buy rating and increased the price target from $88 to $94 on Jan. 21, 2025. This analyst has an accuracy rate of 70%.</li>
</ul>
Considering buying BK stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="579" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11040202/image-72-1024x579.png" alt="" class="wp-image-867347" style="width:559px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11040202/image-72-1024x579.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11040202/image-72-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11040202/image-72-768x434.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11040202/image-72.png 1091w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next:<a href="https://www.benzinga.com/25/04/44734419/top-2-real-estate-stocks-that-may-keep-you-up-at-night-this-month"> </a>
<ul>
<li><a href="https://www.benzinga.com/25/04/44734419/top-2-real-estate-stocks-that-may-keep-you-up-at-night-this-month">Top 2 Real Estate Stocks That May Keep You Up At Night This Month</a> </li>
</ul>
Photo via Shutterstock

Price Target

Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

The sales figures for Q1 2025 for EVs showcase a growth in U.S. EV sales for several manufacturers and paint a strong picture for the domestic EV sector.
What happened: Cox Automotive has published <a href="https://www.coxautoinc.com/market-insights/q1-2025-ev-sales/">a</a> report outlining how the EV sector is performing in the US. The report showcases how EV sales in the US have grown by over 10% year-on-year, with over 294,250 EVs sold in Q1 2025.
The report also says that roughly 7.5% of new vehicles sold in the US in Q1 2025 were EVs, a 7% year-on-year increase.
Despite experiencing an 8.6% decline in sales when compared to the same time last year, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) still dominates the segment, boasting a 43.5% share in sales.
Elon Musk&#8216;s company was followed by General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) with an 8.9% sales share, including Chevrolet, Cadillac, and GMC. Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) recorded a 7.7% sales share according to the report.
As far as individual models go, Tesla dominated the sales figures, selling over 64,051 units of the Model Y and 52,520 units of the Model 3.
Tesla was followed by the Ford Mustang Mach-E with 11,607 units sold and Chevrolet's Equinox EV with 10,329 units. Honda Motor Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) sold 9,561 units of the Prologue. The Honda Prologue is based on the same platform as Chevrolet's Equinox EV.
<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">NEWS: 294,250 battery electric vehicles were sold in Q1 in the U.S., Up 10.6% YoY, according to Cox automotive. EVs ranked by total Q1 2025 unit sales (with segment share %): • Tesla Model Y: 64,051 (21.8%) • Tesla Model 3: 52,520 (17.8%) • Ford Mustang Mach-E: 11,607 (3.9%)… <a href="https://t.co/iF2QqNtEct">pic.twitter.com/iF2QqNtEct</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1910490136217112599?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why it matters: The report illustrates that despite Tesla suffering a decline, other companies like GM, Ford, etc. are adding to the domestic EV sales.
The report highlights increased adoption of EVs among drivers in the U.S. and the growth of legacy brands in the segment when compared with the new-age brands like Tesla.
Price action: GM is currently trading at $43.78, experiencing a 14.8% YTD decline, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44729157/michigan-auto-groups-criticize-trump-for-not-halting-auto-tariffs">Michigan Auto Groups Criticize Donald Trump For Not Halting Auto Tariffs, Say Employees And Supply Chain Will Continue To Endure Uncertainty</a></li>
</ul>
Photo courtesy: Shutterstock

Retail Sales

EV Sales Rise 10.6% Year-Over-Year In Q1 2025: Tesla Declines But Remains US Market Leader

As tech stocks experienced significant volatility following President Donald Trump&#8216;s tariff announcements, some investment firms view the pullback as a buying opportunity for select Magnificent 7 companies.
What Happened: Alexander Morris, CEO of F/m Investments, told Reuters his firm capitalized on recent price dislocations by adding shares of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
&#8220;We have long been investors in the Mag 7 — not all of them, but a handful of them — and you&#8217;ll see us more into some Apple, which seems to be at a discount,&#8221; Morris said. &#8220;We picked up some Meta, which seemed to have done well.&#8221;
The tech sector has faced substantial pressure recently. Apple shares have plunged 21.91% year-to-date, while Meta has fallen 8.84%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>, with both experiencing sharp declines following Trump&#8217;s initial tariff announcements.
Markets staged a historic rally Wednesday after Trump paused tariffs for 90 days on non-retaliating countries while <a href="https://www.benzinga.com/markets/equities/25/04/44753780/us-stock-futures-fall-nikkei-crashes-over-5-as-markets-reel-from-trumps-tariff-shock">maintaining 145% duties on China</a>.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44754189/bitcoin-ethereum-dogecoin-tumble-as-trump-ups-china-tariffs-scraps-irs-rule-in-nod-to-crypto-voters-rising-yuan-could-boost-altcoins-says-analyst">Bitcoin, Ethereum, Dogecoin Tumble As Trump Ups China Tariffs, Scraps IRS Rule In Nod To Crypto Voters: Rising Yuan Could Boost Altcoins, Says Analyst</a>
Why It Matters: Treasury Secretary Scott Bessent had <a href="https://www.benzinga.com/25/04/44652055/its-more-a-mag-seven-problem-than-a-maga-one-treasury-secretary-says-as-wall-street-meltdowns">attributed the market downturn to overvalued technology stocks</a> rather than trade policy, telling the Tucker Carlson Podcast it was &#8220;more a MAG Seven problem than a MAGA one.&#8221;
Despite recent volatility, Morris advocates for maintaining disciplined portfolio allocations through market fluctuations.
&#8220;Every time someone declares the death of the 60-40 portfolio, it comes roaring back,&#8221; Morris noted. &#8220;Whether 60-40 or 70-30, investors need to choose that level and stick with it until some life events change, understanding that they will balance out.&#8221;
Morris emphasized timing challenges: &#8220;Most of the annual return only happens in a handful of days a year, but you have to be around the entire year to get those days.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais" target="_blank" rel="noreferrer noopener">Obama-Era Economist Jason Furman Says Trump Tariffs ‘Now Higher &amp; More Inflationary' Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</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.

Not All Of Mag 7, But A 'Handful:' F/m Investments Selectively Adds Apple, Meta After Trump's Tariff Announcement

As tensions persist in the tariff dispute, President Donald Trump brushed off China's decision to limit the screening of American films.
What Happened: The China Film Administration confirmed on April 10 that it would be reducing U.S. film imports, as reported by <a href="https://variety.com/2025/film/news/donald-trump-laughs-china-hollywood-movies-1236366364/">Variety</a> on Thursday. This decision is a response to Trump&#8217;s recent tariff increases on Chinese goods to 125%.
Trump, when questioned about China&#8217;s decision, responded with a laugh, saying, &#8220;I think I&#8217;ve heard of worse things.&#8221;
The China Film Administration stated that the U.S. government&#8217;s &#8220;wrong action&#8221; to impose high tariffs on China would &#8220;inevitably further reduce the domestic&nbsp;audience's favorability towards American films.&#8221; The administration plans to &#8220;follow the market rules, respect&nbsp;the audience's choice, and moderately&nbsp;reduce the number of American&nbsp;films imported.&#8221;
See Also:&nbsp;<a href="https://benzinga.com/news/global/25/04/44754763/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batter" target="_blank" rel="noreferrer noopener">Obama-Era Treasury Secretary Larry Summers Rejects China &#8216;Cheating&#8217; At Trade Narrative: We Get EV Batteries For &#8216;Pieces Of Paper&#8217; — It&#8217;s A Good Deal</a>
Why It Matters: The U.S. and China have been embroiled in a trade war, with Trump recently increasing tariffs on Chinese goods to 125%. In retaliation, <a href="https://benzinga.com/25/04/44708618/china-retaliates-with-massive-84-tariff-hike-on-us-goods-amid-escalating-trade-war">China has raised its tariffs</a> on U.S. goods to 84%. 
Hollywood films earned just under $600 million in China's $17.7 billion box office in 2024, a sharp contrast to the $8.6 billion generated across U.S. and Canadian theaters during the same period. 
Stocks like Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) are expected to draw attention due to their globally recognized intellectual property and a history of multi-million dollar blockbusters. Disney also operates a substantial merchandising and theme park business in China, which may face significant headwinds. Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) is also exposed, with numerous international licensing agreements in China that could be at risk. However, IMAX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) may feel the biggest impact, as it generates 23% of its revenue from China — home to 45% of all IMAX screens.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44745800/millionaire-trader-rakes-in-1-million-on-the-meme-coin-thats-outpacing-dogecoin-shiba-inu" target="_blank" rel="noreferrer noopener">Millionaire Trader Rakes In $1 Million On The Meme Coin That&#8217;s Outpacing Dogecoin, Shiba Inu &#8211; Benzinga</a>
Image via Shutterstock

Trump Shrugs Off China's Cutback On US Films Amid Ongoing Tariff Tensions: 'I've Heard Of Worse Things'

Commerce Secretary Howard Lutnick offered a forceful defense of the Donald Trump administration's tariff policies, emphasizing the United States' role as a key consumer of global goods.
What Happened: "We are the world's customer. The customer is always right," Lutnick said during a recent appearance on the All-In podcast. "When we say we're going to charge a tariff, and other countries who lean on us, who rely on us, who can't live without the oxygen that is our economy… we buy everybody's stuff."
Lutnick cited a U.S. gross domestic product of $29 trillion, with Americans purportedly spending $20 trillion. "So who is more important? Let's say they have an economy that produces stuff. And we have an economy that buys stuff. The customer is always right," he asserted.
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He singled out China, contending it "consumes less than $10T and primarily tries to figure out how to sell it to itself," meaning it "doesn't buy anybody else's stuff." From Lutnick's perspective, this reliance on selling goods to the United States grants Washington leverage in trade negotiations: "We want them to come here. And if they can't come here, what if you pay us?"
See also: <a href="https://www.benzinga.com/25/04/44641631/trumps-reciprocal-tariffs-threaten-to-derail-big-techs-billion-dollar-ai-infrastructure-plans-analysts-warn-stargate-was-already-unlikely-to-get-to-that-scale" target="_blank" rel="noreferrer noopener">Trump's Reciprocal Tariffs Threaten To Derail Big Tech's Billion-Dollar AI Infrastructure Plans, Analyst Singles Out This OpenAI-Linked Project As Likely To Get Hit</a>
The Counter-Argument: Critics argue that Trump&#8217;s aggressive tariffs on imported goods expose America's <a href="https://www.benzinga.com/news/global/25/04/44705879/trump-tariffs-push-eu-to-hit-23-billion-in-us-exports-including-orange-juice-poulty-and-steel-from-red-states">vulnerability to retaliation</a> targeting its thriving services exports. While the U.S. maintains a significant $295 billion surplus in services — selling $1.1 trillion worth of financial products, cloud computing, and digital platforms abroad — other nations could respond by imposing hefty reciprocal tariffs or regulatory hurdles to counteract Trump&#8217;s tariffs on goods.
Foreign governments have multiple non-tariff tools, including antitrust probes, restrictive licensing, and digital-service taxes, that can seriously impede American tech giants. European Commission president Ursula von der Leyen, in fact, said on Thursday that the EU is preparing a <a href="https://www.benzinga.com/markets/25/04/44754753/meta-google-and-other-big-us-tech-firms-could-end-up-paying-up-if-trump-tariff-talks-collapse-warns-european-commission-president-no-winners-in-this-only-losers">slate of retaliatory measures</a> that could include levies on digital advertising revenues from U.S. tech companies like Facebook-parent Meta and Alphabet&#8217;s Google.
Meanwhile, Economist and Obama-era Treasury Secretary Larry Summers strongly <a href="https://www.benzinga.com/news/global/25/04/44754763/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batteries-for-pieces-of-paper-its-a-good-deal">rejected claims</a> that China has been &#8220;cheating&#8221; on trade since joining the World Trade Organization in 2001, arguing instead that the U.S. has benefited from a &#8220;good deal.&#8221;
Featured image via Shutterstock
Read next: <a href="https://www.benzinga.com/government/regulations/25/04/44660696/trumps-tariff-worries-ross-gerber-points-out-ordering-eu-goods-under-800-still-keeps-you-tax-free" target="_blank" rel="noreferrer noopener">Trump's Tariff Worries? Ross Gerber Points Out Ordering EU Goods Under $800 Still Keeps You Tax-Free</a>

Howard Lutnick Defends Trump Tariffs Saying 'Everybody Needs Our Economy' — Especially China

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