Dernières nouvelles pour  (OTC:ITIPF) Stock

News

AVBP

Reported Earlier, ArriVent Biopharma Prices Offering Of 2,482,692 Common Shares At $19.50 Per Share And Pre-Funded Warrants To Raise $75M

The units are expected to be listed on the New York Stock Exchange ("NYSE") and begin trading tomorrow, July 2, 2025, under the ticker symbol "EVACU."
Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments.

IPOs

EVACU

Reported Earlier, EQV Ventures Acquisition Corp. II Prices Upsized $420M Initial Public Offering Of 42M Units At $10 Per unit

President Donald Trump escalated trade tensions with Japan on Tuesday, threatening to impose tariffs of &#8220;30% or 35%&#8221; if no agreement is reached before the July 9 deadline.
What Happened: The threat represents a significant increase from Japan&#8217;s current 10% tariff rate on most exports, implemented during Trump&#8217;s April 2 &#8220;Liberation Day&#8221; when he imposed duties on trading partners worldwide, <a href="https://www.bbc.com/news/articles/cgeqrd0e9j7o">reported</a> the BBC.
Japanese automakers, including Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), currently face 25% tariffs on vehicles and parts, while steel and aluminum imports carry 50% duties.
&#8220;We&#8217;ve dealt with Japan. I&#8217;m not sure we&#8217;re going to make a deal. I doubt it,&#8221; Trump said, casting doubt on reaching an agreement before the 90-day negotiation window expires.
Japan&#8217;s automotive sector, which <a href="https://www.benzinga.com/markets/tech/25/06/46109160/japans-top-trade-negotiator-calls-trumps-25-auto-tariffs-unacceptable-amid-ongoing-talks">produces 3.3 million vehicles annually</a> in the U.S. and has invested over $60 billion domestically, faces mounting pressure. In June, Chief Trade Negotiator Ryosei Akazawa called the 25% auto tariffs &#8220;unacceptable,&#8221; emphasizing the industry&#8217;s contribution to 2.3 million American jobs.
Toyota has already announced $200 vehicle <a href="https://www.benzinga.com/markets/tech/25/06/46109160/japans-top-trade-negotiator-calls-trumps-25-auto-tariffs-unacceptable-amid-ongoing-talks">price increases starting in July</a>, directly attributing the hikes to tariff pressures. The company exports 1.67 million vehicles to the U.S. annually while manufacturing locally.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/07/46212596/dow-jumps-400-points-as-senate-approves-tax-bill-investor-sentiment-edges-lower-but-fear-index-remains-in-greed-zone" target="_blank" rel="noreferrer noopener">Dow Jumps 400 Points As Senate Approves Tax Bill: Investor Sentiment Edges Lower, But Fear Index Remains In ‘Greed' Zone</a>
Why It Matters: Japan&#8217;s government reportedly responded with a 900 billion yen ($6.3 billion) <a href="https://www.benzinga.com/news/25/05/45609927/trump-tariff-countermeasures-japan-to-reportedly-roll-out-6-3-billion-emergency-fund-stimulus-as-early-as-tuesday">emergency stimulus package to counter tariff impacts</a>. The comprehensive relief program could reach 2.8 trillion yen ($19.7 billion), including local government spending, with 600 billion yen allocated for utility subsidies and 300 billion yen supporting distressed businesses.
Prime Minister Shigeru Ishiba&#8216;s administration faces pressure as parliamentary elections approach. Deputy Chief Cabinet Secretary Kazuhiko Aoki declined to comment on Trump&#8217;s latest threats Wednesday, stating Japan doesn&#8217;t respond to every U.S. official remark.
The escalation contrasts with Trump&#8217;s recent success with the United Kingdom, the only country securing preferential treatment under his tariff regime. The Trump-Starmer trade deal reduced <a href="https://www.benzinga.com/news/politics/25/06/46163327/trump-starmer-trade-deal-kicks-in-uk-luxury-cars-get-10-tariff-rolls-royce-engines-fly-duty-free-into-us">UK auto tariffs from 27.5% to 10% and eliminated aerospace duties</a>, benefiting companies like Rolls-Royce Holdings.
Trump originally pledged to sign 90 trade agreements during the tariff pause, but has <a href="https://www.benzinga.com/news/politics/25/06/46163327/trump-starmer-trade-deal-kicks-in-uk-luxury-cars-get-10-tariff-rolls-royce-engines-fly-duty-free-into-us">completed only the UK deal</a>.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/25/07/46212510/gryphon-digital-surges-nearly-60-in-after-hours-trading-as-eric-trump-backed-american-bitcoin-merger-advances" target="_blank" rel="noreferrer noopener">Gryphon Digital Surges Nearly 60% In After Hours Trading As Eric Trump-Backed American Bitcoin Merger Advances</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Maxim Elramsisy / Shutterstock.com

Politics

Trump Threatens 35% Tariffs On Japan As Trade Deadline Looms: 'Not Sure We're Going To Make A Deal'

Democratic mayoral nominee Zohran Mamdani blasted President Donald Trump on Tuesday for what he called an authoritarian threat to arrest and deport him if he blocks federal immigration raids in New York City.
What Happened: "The President of the United States just threatened to have me arrested, stripped of my citizenship, put in a detention camp and deported — not because I have broken any law but because I will refuse to let ICE terrorize our city," Mamdani said in a statement.
&#8220;His statements don't just represent an attack on our democracy but an attempt to send a message to every New Yorker who refuses to hide in the shadows: if you speak up, they will come for you. We will not accept this intimidation.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My statement on Donald Trump&#39;s threat to deport me and his praise for Eric Adams, who the President &quot;helped out&quot; of legal accountability. <a href="https://t.co/m7pNcT2DFS">https://t.co/m7pNcT2DFS</a> <a href="https://t.co/UcYakMx4lI">pic.twitter.com/UcYakMx4lI</a>
&mdash; Zohran Kwame Mamdani (@ZohranKMamdani) <a href="https://twitter.com/ZohranKMamdani/status/1940139061433241860?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump issued the warning hours earlier at the opening of a migrant detention center in Ochopee, Fla., nicknamed "<a href="https://www.benzinga.com/news/politics/25/07/46186965/trump-to-visit-alligator-alcatraz-migrant-detention-center-this-week-amid-deportation-push-report">Alligator Alcatraz</a>." Asked about Mamdani's vow to "stop masked ICE agents from deporting our neighbors," the president replied, "Well, then we'll have to arrest him." He added, "Look, we don't need a communist in this country, but if we have one, I'm going to be watching over them very carefully on behalf of the nation."
See also: <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">&#8216;One Big Beautiful Bill&#8217; Passes Senate With JD Vance&#8217;s Tie-Breaking Vote, Trump Says &#8216;It&#8217;s Going To Go Very Nicely In The House&#8221;</a>
Gov. Kathy Hochul condemned Trump's threat, saying on X, "If you threaten to unlawfully go after one of our neighbors, you're picking a fight with 20 million New Yorkers — starting with me."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I don&#39;t care if you&#39;re the President of the United States, if you threaten to unlawfully go after one of our neighbors, you&#39;re picking a fight with 20 million New Yorkers — starting with me. <a href="https://t.co/ZKWSuCuT1p">https://t.co/ZKWSuCuT1p</a>
&mdash; Governor Kathy Hochul (@GovKathyHochul) <a href="https://twitter.com/GovKathyHochul/status/1940153699768131787?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Mamdani was born in Uganda to Indian parents and became a U.S. citizen in 2018. His upset primary victory became official Tuesday when ranked-choice tallies showed him defeating former Gov. Andrew Cuomo 56% to 44%, propelling the self-described democratic socialist into a four-way November race that also includes incumbent Eric Adams, now running as an independent.
Trump had last week <a href="https://www.benzinga.com/news/politics/25/06/46162859/trump-threatens-to-cut-federal-funding-for-nyc-if-zohran-mamdani-doesnt-do-the-right-thing-as-future-mayor-if-he-does-get-in-im-going-to-be-president">issued a warning</a> that New York City's federal funding could be in jeopardy if Mamdani doesn't do the "right thing" if he wins the mayoral election. He also warned that any future mayor of New York must "behave themselves," or else the federal government will impose severe financial consequences.
Mamdani's victory in the Democratic primary for New York City mayor has sparked strong political reactions. Trump has <a href="https://www.benzinga.com/news/politics/25/06/46107353/trump-says-democrats-have-crossed-the-line-with-zohran-mamdani-bernie-sanders-elizabeth-warren-back-new-york-mayoral-candidates-grassroots-suppo">condemned the win</a> as a sign that the Democratic Party has veered too far left. Despite the criticism, prominent senators such as Bernie Sanders (I-VT) and Elizabeth Warren (D-Mass) have thrown their support behind Mamdani, citing his "grassroots" approach.
Image via Ron Adar on Shutterstock.com
Read next: <a href="https://www.benzinga.com/news/politics/25/07/46212181/trump-says-israel-ready-for-60-day-ceasefire-in-gaza-hopes-hamas-takes-the-deal-because-it-wont-get-better">Trump Says Israel Ready For 60 Day Ceasefire In Gaza, Hopes Hamas Takes The Deal Because It Won&#8217;t &#8216;Get Better&#8217;</a>

Zohran Mamdani Hits Back At Trump's Arrest Threats Over Potentially Blocking New York ICE Raids: 'Will Not Accept This Intimidation'

On Wednesday, Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) agreed to pay $16 million to <a href="https://www.benzinga.com/general/entertainment/25/05/45676520/is-paramount-offering-millions-to-trump-to-end-60-minutes-lawsuit-report-says-opening-offer-has-been-made">settle a lawsuit filed</a> by President Donald Trump over a "60 Minutes" interview with then–Vice President Kamala Harris, but the company issued no apology or admission of wrongdoing.
What Happened: In a statement, Paramount said, "The settlement does not include a statement of apology or regret" and added that the $16 million would be directed to Trump's future presidential library, not paid to him "directly or indirectly," reported Reuters.
The lawsuit, originally filed in October, alleged that CBS deceptively <a href="https://www.benzinga.com/25/04/44793888/trump-attacks-60-minutes-for-unlawful-and-illegal-behavior-could-president-derail-merger">edited two versions</a> of the Harris interview to make her appear to give contradictory answers about the Israel-Hamas war, thereby favoring the Democratic Party during the election.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/46136541/elon-musk-backs-satya-nadellas-view-that-ai-must-produce-socially-useful-results-the-real-question-in-the-next-five-years-is" target="_blank" rel="noreferrer noopener">Elon Musk Backs Satya Nadella's View That AI Must Produce ‘Socially Useful' Results: ‘The Real Question In The Next Five Years Is…'</a>
Trump initially sought $10 billion in damages, later increasing the claim to $20 billion. The complaint, filed in Texas, accused CBS of violating the Texas Deceptive Trade Practices Act, a law typically used in consumer cases.
The case entered mediation in April. CBS had previously called the lawsuit "completely without merit" and sought to have it dismissed.
Why It's Important: The settlement follows earlier settlements, including a $15 million payout from ABC News, owned by Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and a $25 million settlement from Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) over <a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments">his account suspensions</a>.
The timing also coincides with Paramount's pending <a href="https://www.benzinga.com/general/entertainment/24/09/40754610/paramount-to-be-controlled-by-worlds-sixth-richest-man-larry-ellison-how-helping-his-son-la">$8.4 billion merger</a> with Skydance Media, which requires FCC approval.
Price Action: As of this writing, Paramount's Class A shares were unchanged in after-hours trading at $22.70, while Class B shares slipped 0.08% to $13.15, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicate that Paramount continues to show a steady upward trend over the short, medium and long term. However, despite its strong momentum, the stock's quality ranking remains relatively lower. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance details can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02012110/Screenshot-2025-07-02-at-10.45.49%E2%80%AFAM.png" alt="" class="wp-image-969667" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46127671/amazon-loses-top-ai-leader-in-high-stakes-talent-shuffle" target="_blank" rel="noreferrer noopener">Amazon Loses Top AI Leader In High-Stakes Talent Shuffle</a></li>
</ul>
Photo Courtesy: Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

Legal

Tech

Media

PARA

PARAA

Trump Wins $16 Million Settlement From Paramount Over CBS '60 Minutes' Kamala Harris Interview — But No Apology Issued

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has confirmed that the company will introduce more affordable models to the lineup as sales figures continue to fall throughout various markets.
What Happened: "The accessibility of our products is fundamental to our mission," the EV giant said in its 2024 impact report on Tuesday.
The automaker then went on to confirm that it will introduce cheaper models in its lineup in 2025. "To further accelerate EV adoption, we are launching more affordable products in 2025," the company said.
However, it did not provide any further details about what the products could look like or if the products would be stripped-down versions of cars that are already available or new altogether.
<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="562" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-1024x562.jpg" alt="" class="wp-image-969641" style="width:757px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-1024x562.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-300x165.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-768x421.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-1536x843.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010454/tsla-impact-2048x1124.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Tesla
Why It Matters: The news comes as Tesla has been facing declining sales for some time. Most recently, new data showcased that Tesla sales fell <a href="https://www.benzinga.com/markets/tech/25/07/46189042/elon-musk-led-teslas-european-woes-worsen-with-sales-down-over-60-in-sweden-and-denmark">more than 60%</a> in Sweden and Denmark.
The company's sales figures in <a href="https://www.benzinga.com/markets/tech/25/06/46162850/tesla-sales-in-canada-have-dropped-to-nearly-zero-says-researcher-expects-elon-musk-led-ev-giant-may-report-losses-starting-2026">Canada fell sharply</a>, too, with experts suggesting that the decline could be a result of CEO Elon Musk's political endorsements and close relations with U.S. President Donald Trump.
Elsewhere, veteran investor Gary Black predicted that Tesla's <a href="https://www.benzinga.com/markets/tech/25/07/46212611/gary-black-says-teslas-q2-deliveries-could-be-a-buy-the-news-event-i-believe-tsla-will-miss">Q2 delivery figures would disappoint</a> and fall below Wall Street estimates. He also said that Musk's key aide, <a href="https://www.benzinga.com/markets/tech/25/06/46132042/teslas-q2-sales-going-to-s-says-gary-black-after-tsla-north-america-and-europe-chief-omead-afshars-exit">Omead Afshar's departure</a> from Tesla also confirmed the poor sales figures.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1-1024x203.jpg" alt="" class="wp-image-969642" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1-1024x203.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1-300x60.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1-768x153.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1-1536x305.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02010524/TSLA-JUL-2-2025-1.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46186733/elon-musk-staging-a-political-comeback-tesla-ceo-sparks-america-party-buzz-as-he-slams-trumps-insane-spending-bill">Elon Musk Staging A Political Comeback? Tesla CEO Sparks &#8216;America Party&#8217; Buzz As He Slams Trump&#8217;s &#8216;Insane Spending Bill&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

TSLA

Amid Declining Sales, Elon Musk's Tesla Confirms New Affordable Models Will Be Introduced This Year

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Retail Sales (MoM) For May 0.2% Vs. 0.3% Est.; 0.0% (Revised) Prior

Reported Earlier, Australia Building Approvals (MoM) Preliminary For May 3.2% Vs. 4.2% Est.; -4.1% (Revised) Prior

Figma Inc. has filed for an initial public offering, aiming to list its Class A common stock on the New York Stock Exchange under the symbol &#8220;FIG,&#8221; marking a significant step for the San Francisco-based design platform.
What Happened: The company, known for its collaborative browser-based tools used by major clients such as Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), reported robust financial growth ahead of its public debut. 
For the year ended December 31, 2024, Figma posted revenue of $749 million, a 48% increase year-over-year, and for the first quarter of 2025, revenue reached $228.2 million, up 46% from the prior year period. The company's compounded annual revenue growth rate over four years stands at 53%.
Figma's net income swung from $737.8 million in 2023—boosted by a $1 billion termination fee from the abandoned Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) merger—to a net loss of $732.1 million in 2024, largely due to one-time stock-based compensation expenses. However, the company returned to profitability in the first quarter of 2025 with net income of $44.9 million. 
Figma's platform is now used by 95% of the Fortune 500 and 78% of the Forbes Global 2000, reflecting its widespread adoption across industries. The company has rapidly expanded its product suite, launching features such as Dev Mode for developers, FigJam for ideation, and new AI-powered tools like Figma Make, which can generate functional prototypes from prompts. 
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46212596/dow-jumps-400-points-as-senate-approves-tax-bill-investor-sentiment-edges-lower-but-fear-index-remains-in-greed-zone">Dow Jumps 400 Points As Senate Approves Tax Bill: Investor Sentiment Edges Lower, But Fear Index Remains In &#8216;Greed&#8217; Zone</a>
Why It Matters: Its Net Dollar Retention Rate was 134% at the end of 2024 and 132% as of March, indicating strong customer expansion and retention. 
The IPO follows Figma's earlier attempt to be acquired by Adobe for $20 billion, a <a href="https://www.benzinga.com/news/large-cap/23/07/33353200/adobes-game-changing-20-billion-figma-acquisition-under-global-regulatory-microscope">deal blocked by regulatory authorities</a> over antitrust concerns. Figma's most recent <a href="https://www.benzinga.com/news/24/05/38893439/figma-sets-12-5b-valuation-in-new-equity-offering-falling-short-of-adobes-acquisition-offer">private valuation was $12.5 billion</a>, set during a secondary share sale in 2024. Founder and CEO Dylan Field will retain significant voting power post-IPO, due to Figma's multi-class share structure.
Figma's business model is subscription-based, offering tiered plans for individuals, organizations, and enterprises, with pricing tailored to different user roles and workflows. &nbsp;
The company plans to use IPO proceeds for working capital, product development, and potential acquisitions, while repaying certain outstanding indebtedness. Figma does not anticipate paying dividends in the near future. 
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/25/07/46212510/gryphon-digital-surges-nearly-60-in-after-hours-trading-as-eric-trump-backed-american-bitcoin-merger-advances">Gryphon Digital Surges Nearly 60% In After Hours Trading As Eric Trump-Backed American Bitcoin Merger Advances</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: M.oo / Shutterstock.com

ADBE

GOOG

GOOGL

MSFT

Figma Targets Wall Street Debut After $20 Billion Adobe Deal Collapse

While Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) have been moving sideways and offering traders little excitement, a cryptocurrency connected to the non-fungible token space has been quietly surging up the price charts.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Pudgy Penguins (PENGU) soared 50% over the week, becoming the market's biggest gainer. The coin added over $350 million to its capitalization in this period.
The gulf between PENGU and the rest of the market could be gauged by the fact that the second-biggest gainer, Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>), could only rise 6.79% over the last week.
Moreover, in the past 24 hours, PENGU was the only meme coin in the green
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters">Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters</a>
The rally has been primarily driven by the Canary PENGU ETF filing, a first-of-its-kind investment vehicle that proposes holding PENGU tokens (80-95%) and Pudgy Penguins NFTs (5-15%).&nbsp;
The filing was submitted by Canary Capital, a cryptocurrency asset trading and management firm <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41243775/xrp-etf-buzz-increases-as-canary-capital-pursues-sec-for-greenlight-on-its-fund-will-the-g">that also seeks to list ETFs</a> tracking larger-cap coins like XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>)
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Canary PENGU ETF, the first and only spot pudgy penguin filing, just got its 19b-4 filing via CBOE. On clock soon. <a href="https://t.co/852jIPtuvF">pic.twitter.com/852jIPtuvF</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1937990087238664385?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $107,894.79, up 1.38% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Midnight In Summer on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46205649/bitcoin-fartcoin-outperform-in-2025-but-how-did-xrp-eth-solana-fare-in-the-first-6-months">Bitcoin, Fartcoin Outperform In 2025, But How Did XRP, ETH, Solana Fare In The First 6 Months? </a></li>
</ul>

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

Cryptocurrency

Markets

$BCH

$BTC

$ETH

$LTC

$SOL

$XRP

Why Has The Pudgy Penguins Token Shot Up 50% In The Past Week?

A comment made by a lawyer representing Elon Musk&#8217;s social media platform, X ,has ignited a fresh conflict between the tech giant and the Indian government.
What Happened: The lawyer, K. G. Raghavan, representing X, made a contentious statement during a court hearing in India. He stated that every &#8220;Tom, Dick, and Harry&#8221; government official had the authority to issue content takedown orders. This comment was made during a hearing on X&#8217;s challenge to a government-run website, which the company claims is a &#8220;censorship portal&#8221; allowing officials to issue content removal orders, <a href="https://www.reuters.com/legal/litigation/x-india-spar-over-lawyers-tom-dick-harry-remark-government-officials-2025-07-01/">reported</a> Reuters.
The Indian government, however, contends that the website is simply a means to promptly inform companies of their due diligence obligations. This remark has further fueled the ongoing dispute between X and the Indian government over content removal requests.
See Also: <a href="https://benzinga.com/news/legal/25/07/46211886/diddy-jury-deadlocked-on-racketeering-conspiracy-charge-as-verdicts-reached-on-sex-trafficking-counts-jurors-to-return-wednesday">Diddy Jury Deadlocked On Racketeering Conspiracy Charge As Verdicts Reached On Sex Trafficking Counts — Jurors To Return Wednesday &#8211; Benzinga</a>
India is a crucial market for Musk&#8217;s various ventures, including X, Starlink, and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). The latter has been preparing to launch in India, with the Model Y already spotted being tested in Mumbai.
Why It Matters: This is not the first time X, previously known as Twitter, has been embroiled in a dispute over content moderation. In 2021, the company was at odds with the Indian government over non-compliance with legal orders to block certain tweets. Although X eventually complied, it remains entangled in a <a href="https://www.benzinga.com/news/24/06/39184541/elon-musk-says-freedom-of-speech-is-worth-fighting-for-after-australia-drops-legal-battle-against-x">court battle</a> related to this move.
Earlier this year, X faced a <a href="https://www.benzinga.com/markets/25/04/44601197/massive-data-breach-at-elon-musks-x-reportedly-exposes-data-of-millions-of-accounts-by-far-the-largest-social-media-breach-ever">massive data breach</a> that exposed the data of millions of accounts. This incident also further raises concerns over the security measures in place at X
Meanwhile, Musk&#8217;s other company, Tesla, is gearing up for its <a href="https://www.benzinga.com/tech/25/04/44833951/elon-musk-led-teslas-model-y-spotted-testing-in-mumbai-ahead-of-india-debut">India debut</a>, the outcome of this ongoing dispute could have significant implications for Musk&#8217;s business interests in India.
Read Next: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46206003/bitcoin-ethereum-xrp-dogecoin-dip-but-early-july-dip-buys-will-age-well-trader-says">Bitcoin, Ethereum, XRP, Dogecoin Dip But &#8216;Early July Dip Buys Will Age Well,&#8217; Trader Says &#8211; Benzinga</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Evolf on Shutterstock.com

Elon Musk's X Clashes With Indian Government Over 'Censorship Portal': Platform's Lawyer's 'Tom, Dick And Harry' Comment Sparks Dispute

Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CEO Lip-Bu Tan is reportedly evaluating whether to stop marketing the company's costly 18A chipmaking process to outside customers, a move that could signal a major strategic pivot amid mounting financial losses and <a href="https://www.benzinga.com/tech/25/05/45335671/morris-chang-once-talked-about-how-intel-turned-down-his-vision-for-tsmc-fast-forward-to-today-and-the-taiwanese-chipmaker-has-outgrown-intel-in-market-value-by-hundreds-of-billions">fierce competition</a> from Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
What Happened: Tan has grown skeptical of continuing external sales of 18A and its variant 18A-P — advanced manufacturing processes that have cost Intel billions to develop, but have struggled to attract major customers, reported Reuters, citing two people familiar with the matter.
Scrapping the effort could trigger a write-off potentially amounting to hundreds of millions or more, the report said.
Responding to the publication, Intel declined to comment on "hypothetical scenarios," but said it plans to use 18A for its own upcoming chips, including the Panther Lake laptop processor expected in late 2025. Intel will also fulfill limited existing commitments to Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) using 18A.
See Also:&nbsp;<a href="https://www.benzinga.com/news/education/25/06/45983347/jensen-huang-gave-12-6-million-to-charity-then-nvidias-stock-made-it-billions" target="_blank" rel="noreferrer noopener">Jensen Huang Gave $12.6 Million To Charity, Then Nvidia's Stock Made It Billions</a>
"Lip-Bu and the executive team are committed to strengthening our roadmap, building trust with our customers, and improving our financial position for the future," the company told the publication.
Why It's Important: Tan is now shifting focus toward 14A, a next-generation process Intel believes may offer stronger advantages over TSMC's advanced nodes, the report added.
Discussions with the board could take place as early as this month, though a final decision may not come until fall.
The deliberations mark one of the most significant strategic inflection points for Intel under Tan's leadership. After posting an <a href="https://www.benzinga.com/25/04/44640394/tsmc-to-take-20-stake-in-joint-venture-with-intel-amid-us-chipmakers-struggles-with-188-billion-net-loss-in-2024-report">$18.8 billion loss in 2024</a>—its first unprofitable year since 1986—the company is under pressure to revamp its foundry business and regain technological leadership in a global chip race dominated by TSMC.
Intel's most recently reported quarterly revenue was $12.67 billion. For the full year ending December 2024, the company generated $53 <a href="https://www.benzinga.com/markets/tech/25/06/46058862/nvidia-intel-chip-stocks-ai-valuation-revenue">billion in total revenue</a>.
Price Action: Intel (INTC) shares rose 2.01% during Tuesday's regular session and edged up an additional 0.18% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. The stock is up 13.01% year-to-date but has dropped 26.46% over the past 12 months.
Benzinga's Edge Stock Rankings indicate that INTC shows a solid upward trend in the short and medium term but trends downward over the long term. While its value ranking remains strong, its momentum score is weaker. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance data is available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02004926/Screenshot-2025-07-02-at-10.15.48%E2%80%AFAM.png" alt="" class="wp-image-969626" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46127671/amazon-loses-top-ai-leader-in-high-stakes-talent-shuffle" target="_blank" rel="noreferrer noopener">Amazon Loses Top AI Leader In High-Stakes Talent Shuffle</a></li>
</ul>
Photo: Tada Images/ Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

INTC

Intel CEO Lip-Bu Tan Weighs Ending Marketing Of Expensive Chip Manufacturing As Losses Mount And Rival TSMC Surges Ahead: Report

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects UniFirst Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) to report quarterly earnings at $2.09 per share on revenue of $614.51 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. UniFirst shares gained 5.3% to $200.50 in after-hours trading.</li>
<li>The Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) posted stronger-than-expected results for the third quarter after the closing bell on Tuesday. The company posted quarterly earnings of $1.86 per share, beating market estimates of 98 cents per share. Greenbrier shares jumped 13.1% to $53.14 in the after-hours trading session.</li>
<li>Analysts are expecting Franklin Covey Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FC#NYSE">FC</a>) to post a quarterly loss of 4 cents per share on revenue of $67.49 million for the latest quarter. The company will release earnings after the markets close. Franklin Covey shares rose 4.7% to $25.25 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) posted weaker-than-expected earnings for its first quarter and affirmed its FY2026 earnings guidance. Constellation Brands reported quarterly earnings of $3.22 per share, which missed the analyst consensus estimate of $3.31 per share. The company reported quarterly sales of $2.515 billion, which missed the analyst consensus estimate of $2.554 billion. Constellation Brands shares fell 1.2% to $164.40 in the after-hours trading session.</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) is expected to post earnings for the first quarter after the closing bell. Zenvia shares fell 0.7% to close at $1.49 on Tuesday.</li>
</ul>
Check This Out: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46192054/cramer-backs-this-mining-giant-after-1-6b-bet">Cramer Backs This Mining Giant After $1.6B Bet</a> </li>
</ul>
Photo courtesy: T. Schneider / Shutterstock.com

Pre-Market Outlook

ZENV

Constellation Brands, UniFirst And 3 Stocks To Watch Heading Into Wednesday

Investor Gary Black, the managing director of Future Fund LLC, says that Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Q2 deliveries could miss estimates amid the company's Robotaxi plans in Austin.
What Happened: "Tomorrow's $TSLA 2Q deliveries could be a &#8216;buy the news&#8217; event, given low expectations going into the release," the investor said in a post on social media platform X on Tuesday.
He added that Tesla would miss delivery estimates calculated by the market. Black then predicted 370k deliveries for the company with a -17% YoY decline as opposed to Wall Street estimates of 385k deliveries and a -13% YoY decline.
Black also questioned whether people would focus on the numbers. " I'm not sure it matters as everyone is focused on if and when TSLA robotaxi can scale," he said before adding that the Robotaxi launch in Austin did have a "safety driver in the passenger seat and there were a few disengagements.
The investor also outlined how Elon Musk's close aide, Omead Afshar's departure from Tesla, "confirmed" the poor delivery figures in Q2.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tomorrow's <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> 2Q deliveries could be a "buy the news" event, given low expectations going into the release. That said, I believe TSLA will miss expectations (my est 370K -17% YoY vs WS 385K -13% YoY), but I'm not sure it matters as everyone is focused on if and when TSLA… <a href="https://t.co/o3Ze2crzg5">pic.twitter.com/o3Ze2crzg5</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1940125596438454506?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The news comes as the investor had previously said that <a href="https://www.benzinga.com/markets/large-cap/25/06/46161226/gary-black-warns-tesla-q2-deliveries-will-disappoint-says-cheaper-models-could-cannibalize-sales-and-see-ideal-re-entry-22-below-current-levels">Q2 deliveries for Tesla</a> would disappoint and reiterated his stance that the planned cheaper models could cannibalize sales.
Tesla has been battling a sales slump for some time, with the company reaching record market lows in several regions throughout the globe. Tesla sales declined more than 60% in <a href="https://www.benzinga.com/markets/tech/25/07/46189042/elon-musk-led-teslas-european-woes-worsen-with-sales-down-over-60-in-sweden-and-denmark">Sweden and Denmark</a>, sales data released by researchers suggests.
Musk has also <a href="https://www.benzinga.com/news/politics/25/07/46189313/ross-gerber-says-elon-musk-enabled-the-president-as-trump-slams-tsla-ceo-over-subsidies-calls-out-tesla-boards-silence-on-absurd-attack">been at odds</a> with U.S. President Donald Trump over the latter's Big, Beautiful Bill, which aims to introduce a series of subsidy cuts and reiterates the President's <a href="https://www.benzinga.com/news/politics/25/06/45943245/trump-says-he-was-amazed-that-tesla-ceo-elon-musk-endorsed-him-despite-his-anti-ev-stance">anti-EV stance</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025-1024x203.jpg" alt="" class="wp-image-969576" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025-1024x203.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025-300x60.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025-768x153.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025-1536x305.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/02000503/TSLA-JUL-2-2025.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/07/46211529/cathie-wood-doubles-down-on-tesla-amid-elon-musks-feud-with-trump-sells-3-million-worth-of-coinbase-stock">Cathie Wood Doubles Down On Tesla Amid Elon Musk&#8217;s Feud With Trump, Sells $3 Million Worth Of Coinbase Stock</a></li>
</ul>
Photo courtesy: Ken Wolter / Shutterstock.com

Gary Black Says Tesla's Q2 Deliveries Could Be A 'Buy The News' Event: 'I Believe TSLA Will Miss'

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Tuesday.
U.S. stocks settled mixed on Tuesday, with the Dow Jones index gaining 400 points during the session. The U.S. Senate approved President Donald Trump&#8217;s &#8220;One Big, Beautiful Bill.&#8221;
On the economic front, the number of job openings climbed by 374,000 to 7.769 million in May. The ISM manufacturing PMI rose to 49 in June versus 48.5 in the previous month, compared to market estimates of 48.8. U.S. construction spending declined by 0.3% month-over-month to an annual rate of $2,138 billion in May.
MSC Industrial Direct Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) posted better-than-expected financial results for its fiscal third quarter of 2025.
Most sectors on the S&amp;P 500 closed on a positive note, with materials, health care and energy stocks recording the biggest gains on Tuesday. However, information technology and communication services bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 400 points to 44,494.94 on Tuesday. The S&amp;P 500 fell 0.11% to 6,198.01, while the Nasdaq Composite declined 0.82% to 20,202.89 during Tuesday's session.
Investors are awaiting earnings results from UniFirst Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) and The Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 65.2, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 65.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46192054/cramer-backs-this-mining-giant-after-1-6b-bet">Cramer Backs This Mining Giant After $1.6B Bet</a> </li>
</ul>
Photo courtesy: Shutterstock

Dow Jumps 400 Points As Senate Approves Tax Bill: Investor Sentiment Edges Lower, But Fear Index Remains In 'Greed' Zone

Economist Justin Wolfers is warning that President Donald Trump's fixation on low interest rates could set the U.S. on a nightmarish path, one that increasingly mirrors the unrelenting inflation crisis that has gripped Turkey over the past couple of years. 
What Happened: On Tuesday, the University of Michigan economist shared a brief clip from his recent CNN appearance on X, voicing his concerns regarding political leaders who push for persistently low interest rates without any consideration for inflationary dynamics or institutional guardrails.
&#8220;There&#8217;s a horror film that still gives me nightmares,&#8221; Wolfers says, referring to Turkish President Recep Tayyip Erdoğan, whose insistence on low interest rates led to an inflationary spiral, which rose to 86%, before settling down at 38% today.
See Also: <a href="https://www.benzinga.com/personal-finance/management/25/06/46169828/howard-lutnicks-viral-fed-rant-claims-simple-formula-for-rate-cuts-heres-why-economists-are-cringing">Howard Lutnick&#8217;s Viral Fed Rant Claims &#8216;Simple Formula&#8217; for Rate Cuts—Here&#8217;s Why Economists Are Cringing</a>
Wolfers sees stark parallels between what happened in Turkey and where the U.S. is headed right now. &#8220;A populist strongman comes to power with a weak grasp of economics but a love of low interest rates and few political checks,&#8221; he says, referring to Trump&#8217;s recent remarks regarding the Federal Reserve and interest rates.
&#8220;If the President remains wedded to this low interest rate idea,&#8221; while inflation starts to rise, &#8220;that then can cause an inflationary spiral,&#8221; he says. 
Wolfers says that &#8220;if Trump were to insist on these sorts of policies, that&#8217;s exactly the script that we&#8217;d follow,&#8221; before asking if we &#8220;should fear an American sequel&#8221; to Turkey&#8217;s economic nightmare. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There&#39;s a horror film that still gives me nightmares. A populist strongman comes to power with a weak grasp of economics but a love of low interest rates and few political checks. That movie was Turkey, which saw inflation rise above 50 percent. Should we fear an American sequel? <a href="https://t.co/d83O9kN225">pic.twitter.com/d83O9kN225</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1940167603541987648?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: On Monday, U.S. Treasury Secretary Scott Bessent said that he would do &#8220;what the President wants&#8221; when asked about his likelihood of <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46186509/scott-bessent-on-replacing-powell-as-fed-chair-i-will-do-what-the-president-wants-plays-down-shadow-chair-speculations">heading the Central Bank</a> after Jerome Powell&#8217;s term ends in May 2026.
This is not unlike Erdogan appointing his <a href="https://www.benzinga.com/government/20/11/18265100/turkish-lira-rise-2-over-weekend-amid-leadership-shake-up">former finance minister</a>, Naci Agbal, to the position of Central Bank Governor in late 2020. 
There have been <a href="https://www.benzinga.com/markets/25/04/44999600/feds-independence-could-disappear-in-a-week-says-economist-ken-rogoff-as-trump-thinks-hes-smarter-th">growing concerns</a> regarding the Fed&#8217;s independence in recent months, as tensions continue to flare between Trump and Powell.
This week, Trump once again referred to Powell as a &#8220;stupid person&#8221; and &#8220;a bad person&#8221; for not <a href="https://www.benzinga.com/news/politics/25/06/46165110/donald-trump-calls-fed-chair-jerome-powell-a-bad-person-who-keeps-rates-artificially-high-says-benchmark-should-drop-by-half">cutting interest rates</a>, which he says should be at &#8220;1% or 2%.&#8221;
Photo Courtesy: Shchus on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46188699/goldman-sachs-now-expects-3-fed-rate-cuts-in-2025-amid-weak-jobs-data-modest-trump-tariff-effects">Goldman Sachs Now Expects 3 Fed Rate Cuts In 2025 Amid Weak Jobs Data, Modest Trump Tariff Effects</a></li>
</ul>

Government

Federal Reserve

If Trump Stays 'Wedded To Low Rates' Idea, US Risks A Turkey-Style Inflation Horror Show: Economist Justin Wolfers Warns

Gryphon Digital Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) shares soared 59.79% in after-hours trading to $1.44 following news that the company filed an amended registration statement with the Securities and Exchange Commission for its pending merger with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining&nbsp;firm American Bitcoin Corp.
What Happened: The stock closed regular trading at $0.90, up 2.26% for the day, before experiencing a dramatic surge after the merger update was announced. Year-to-date, GRYP <a href="https://www.benzinga.com/markets/equities/25/07/46211837/unitedhealthcare-group-gryphon-digital-mining-amc-entertainment-centene-and-tesla-why-these-5-stocks-are-on-investors-radars-today">shares have gained 125.30%</a>.
The amended Form S-4 registration statement updates the initial filing from June and includes a preliminary proxy statement and prospectus for the proposed stock-for-stock transaction.
While the registration statement has not yet become effective, it provides critical information about both companies and the merger structure.
Under the definitive merger agreement, Gryphon will acquire American Bitcoin in an all-stock deal. The combined entity will operate under the American Bitcoin brand and be led by American Bitcoin&#8217;s existing management team and board of directors.
The merged company expects to trade on Nasdaq under the ticker symbol &#8220;ABTC&#8221; with the transaction targeted to close as early as the third quarter of 2025.
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46212217/nvidia-b300-chips-order-touted-by-nayib-bukeles-bitcoin-office-why-does-el-salvador-want-these-powerful-ai-processors">Nvidia B300 Chips Order Touted By Nayib Bukele&#8217;s Bitcoin Office — Why Does El Salvador Want These Powerful AI Processors?</a>
Why It Matters: American Bitcoin is a majority-owned subsidiary of Hut 8 Corp., focusing on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The company combines Hut 8&#8217;s mining operations and infrastructure capabilities with commercial expertise from Eric Trump, who <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45876652/trump-family-backed-bitcoin-mining-firm-acquires-23-million-worth-of-btc-signals-more-accumulation-in-the-future">brings capital markets experience to the venture</a>.
The merger comes as Bitcoin trades at $106,129.58, up 1.03% for the day, with a market capitalization of $2.11 trillion. The cryptocurrency has shown resilience with a total supply of 19.88 million BTC out of a maximum of 21 million coins.
Gryphon stockholders will need to approve the proposed transaction before it can proceed. The companies have not disclosed the specific exchange ratio for the stock-for-stock merger or other financial terms of the deal.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/25/07/46211872/bitcoin-ethereum-dogecoin-mirror-tech-stocks-sell-off-as-trumps-big-beautiful-bill-passes-senate-analyst-spots-rare-warning-for-btc">Bitcoin, Ethereum, Dogecoin Mirror Tech Stocks Sell-Off As Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Passes Senate: Analyst Spots &#8216;Rare Warning&#8217; For BTC</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Maxim Elramsisy / Shutterstock.com

GRYP

Gryphon Digital Surges Nearly 60% In After Hours Trading As Eric Trump-Backed American Bitcoin Merger Advances

Changpeng Zhao, the founder of cryptocurrency exchange Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), said Tuesday that he made a personal donation of $10 million to support Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder Vitalik Buterin&#8217;s biotech initiative. 
What Happened:&nbsp;Zhao, known popularly as &#8220;CZ,&#8221;&nbsp;revealed in an X post that he sent $10 million, all in BNB tokens, to Buterin&#8217;s &#8220;open-source&#8221; biotech efforts a couple of months ago.
The gesture was acknowledged by Buterin, who thanked CZ for keeping &#8220;humanity healthy and safe from airborne diseases.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Appreciate your support for keeping humanity healthy and safe from airborne disease <a href="https://twitter.com/cz_binance?ref_src=twsrc%5Etfw">@cz_binance</a>!
&mdash; vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1940137173493457314?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46116723/xrp-stuck-below-2-20-why-is-it-not-moving" target="_blank" rel="noreferrer noopener">XRP Stuck Below $2.20: Why Is It Not Moving? </a>
Why It Matters:&nbsp; Buterin and CZ, two of the most influential cryptocurrency personalities, are also known for their philanthropic efforts.
Earlier this year, Buterin <a href="https://www.benzinga.com/25/01/42835979/ethereum-co-founder-vitalik-buterin-offloads-nearly-a-million-in-memecoins-to-benefit-charitiesdogecoins-sister-coin-neiro-plunges-3-after-sale">sold several meme coins</a> gifted to him by project creators and allocated the proceeds, worth over $900,000, toward his biotechnology charity&nbsp;Kanro. In December of last year, he&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42696957/all-vitalik-buterin-wanted-for-xmas-was-a-hippopotamus-ethereum-co-founder-is-now-the-adoptive-father-of-viral-sensation-moo-deng" target="_blank" rel="noreferrer noopener">adopted the viral baby hippo</a>&nbsp;named&nbsp;Moo Deng,&nbsp;setting aside 88 ETH for the animal's welfare and her family
Previously, he&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/07/22190225/ethereum-co-founder-donated-1b-shiba-inu-to-aid-india-in-covid-19-battle-money-reaching-th" target="_blank" rel="noreferrer noopener">donated billions of dollars worth</a> of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)&nbsp;for COVID-19 relief in India
Similarly, CZ <a href="https://in.benzinga.com/content/44550312/binances-cz-pledges-to-donate-500-bnb-each-to-thailand-and-myanmar-after-earthquake">pledged to donate</a> to both Thailand and Myanmar in response to&nbsp;the devastating 7.7 magnitude earthquake that struck the region in March.
Price Action:&nbsp; At the time of writing, BNB was exchanging hands at $649.83, down 0.95% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/06/46132333/cz-urges-crypto-exchanges-to-add-inheritance-tools-every-platform-should-have-a-will-function">CZ Urges Crypto Exchanges to Add Inheritance Tools – &#8216;Every Platform Should Have a Will Function&#8217;</a></li>
</ul>
Photo Courtesy: DIAMOND VISUALS on Shutterstock.com
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$BNB

$SHIB

Changpeng Zhao Drops $10 Million In BNB On Vitalik Buterin's Biotech Charity, Gets Thanked For Keeping Humanity Safe From Airborne Diseases

Penguin Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) will release earnings results for the third quarter, after the c<a href="https://www.benzinga.com/quote/peng/earnings">losing bell on Tuesday, July 8.</a>
Analysts expect the Grand Cayman, Cayman Islands-based company to report quarterly earnings at 33 cents per share, down from 37 cents per share in the year-ago period. Penguin Solutions projects to report quarterly revenue at $330.82 million, compared to $300.58 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On April 2, Penguin Solutions reported better-than-expected second-quarter financial results.
Penguin Solutions shares rose 1.8% to close at $20.17 on Tuesday.
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/peng/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>Goldman Sachs analyst Michael Ng maintained a Buy rating and cut the price target from $26 to $22.5 on April 3, 2025. This analyst has an accuracy rate of 70%.</li>
<li>JP Morgan analyst Samik Chatterjee initiated coverage on the stock with a Neutral rating and a price target of $20 on March 31, 2025. This analyst has an accuracy rate of 71%.</li>
<li>Barclays analyst Tom O'Malley maintained an Overweight rating and increased the price target from $22 to $23 on Jan. 9, 2025. This analyst has an accuracy rate of 68%.</li>
<li>Loop Capital analyst Ananda Baruah initiated coverage on the stock with a Buy rating and a price target of $30 on Jan. 7, 2025. This analyst has an accuracy rate of 76%.</li>
<li>Stifel analyst Brian Chin maintained a Buy rating and cut the price target from $32 to $27 on Oct. 16, 2024. This analyst has an accuracy rate of 71%.</li>
</ul>
Considering buying PENG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/PENG/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="573" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/01042255/image-1-1-1024x573.png" alt="" class="wp-image-968111" style="width:638px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/01042255/image-1-1-1024x573.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/01042255/image-1-1-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/01042255/image-1-1-768x430.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/01042255/image-1-1.png 1122w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read This Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/06/46169288/5-stocks-in-the-spotlight-wall-streets-most-accurate-analysts-weigh-in">5 Stocks In The Spotlight: Wall Street&#8217;s Most Accurate Analysts Weigh In</a> </li>
</ul>
Photo via Shutterstock

Earnings

Price Target

Analyst Ratings

Trading Ideas

Penguin Solutions, Inc. - Ordinary Shares

PENG

Penguin Solutions Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

On Tuesday, Senate Republicans' narrow passage of President Donald Trump's massive <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">tax-and-spending package</a> is drawing sharp reactions from both sides of the aisle.
What Happened: Sen. Lisa Murkowski (R-Alaska) took to X, formerly Twitter, and said the bill was "one of the hardest votes I have taken," citing key wins for Alaska, including Coast Guard investment. Still, she warned, "It is not good enough for the rest of our nation—and we all know it."
<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">This was one of the hardest votes I have taken during my time in the Senate.   My goal throughout the reconciliation process has been to make a bad bill better for Alaska, and in many ways, we have done that. In addition to extending pro-growth tax cuts, a larger child tax…
&mdash; Sen. Lisa Murkowski (@lisamurkowski) <a href="https://twitter.com/lisamurkowski/status/1940124362625175934?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
U.S. Senator Elizabeth Warren (D-Mass) also took to X and said, "This fight isn&#8217;t over. Donald Trump's ‘Big Beautiful Bill' is headed to the House, and we have the power to stop it."
<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">This fight isn&#39;t over. Donald Trump's "Big Beautiful Bill" is headed to the House, and we have the power to stop it. <a href="https://t.co/Rf0kfti7YZ">pic.twitter.com/Rf0kfti7YZ</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1940140639993438352?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45945131/trumps-big-beautiful-bill-could-cost-professional-firms-73-billion-lawyers-and-accountants-join-forces-to-resist">Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; Could Cost Professional Firms $73 Billion, Lawyers And Accountants Join Forces To Resist</a>
Sen. Bernie Sanders (I-VT), who has previously <a href="https://www.benzinga.com/news/politics/25/06/46160881/bernie-sanders-slams-trumps-big-beautiful-bill-as-a-gift-for-billionaires-the-most-dangerous-piece-of-legislation-in-modern-history">slammed the bill</a> for helping the rich and harming working families, offered an amendment to expand Medicare by cutting drug prices, but Republicans blocked it.
<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">Many seniors can't afford dental care, hearing aids or glasses. I'm proud that all Democrats supported my amendment last night to expand Medicare to cover dental, hearing and vision paid for by cutting prescription drug costs for Medicare in half. No Republicans voted for it. <a href="https://t.co/5TpaxPDDmn">pic.twitter.com/5TpaxPDDmn</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1940211709995790599?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sen. Rand Paul (R-KY) also took to social media and said he offered to support the bill if it included a 90% debt ceiling reduction. "Congress chose to sell out taxpayers instead," he wrote. "Only once the bill is released will we know what the true price was."
<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">Throughout the Vote-a-rama, I was working all night to stop Congress from adding to our debt. I met with <a href="https://twitter.com/VP?ref_src=twsrc%5Etfw">@VP</a> and I reiterated my offer to vote for the bill—if it included a 90% reduction in the debt ceiling. No earmarks. No handouts. Just real fiscal reform. I wasn't looking…
&mdash; Senator Rand Paul (@SenRandPaul) <a href="https://twitter.com/SenRandPaul/status/1940056272335745188?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sen. Marsha Blackburn (R-Tenn.) praised the bill for having the largest-ever investment in border security. "The One Big Beautiful Bill we just passed in the Senate will deliver the largest investment ever in border security and make this possible."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Trump and Senate Republicans promised to secure the border. The One Big Beautiful Bill we just passed in the Senate will deliver the largest investment ever in border security and make this possible.
&mdash; Sen. Marsha Blackburn (@MarshaBlackburn) <a href="https://twitter.com/MarshaBlackburn/status/1940139210603917482?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: The Senate passed the legislation in a 51-50 vote, with Vice President JD Vance breaking the tie. The bill, dubbed the "Big Beautiful Bill" by Trump, <a href="https://www.benzinga.com/markets/economic-data/25/06/46165307/us-credit-rating-would-fall-if-trumps-big-beautiful-bill-is-approved-says-thomas-massie-heres-what-it-means-for-americans">includes sweeping tax cuts</a>, record border security funding and controversial changes to welfare programs. It could add $3.3 trillion to the national debt.
The bill now goes to the House of Representatives, where Republicans have a slim majority, so the final vote is expected to be very close. Trump wants to sign this bill into law by July 4th.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46187403/elon-musk-is-unhappy-with-trumps-big-beautiful-bill-and-just-reminded-everyone-that-80-voted-for-a-new-party">Elon Musk Is Unhappy With Trump&#8217;s &#8216;Big Beautiful Bill&#8217; And Just Reminded Everyone That 80% &#8216;Voted&#8217; For A New Party</a></li>
</ul>
Photo Courtesy: Mark Reinstein on Shutterstock.com
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.

Regulations

Lisa Murkowski Defends Alaska Carveouts As Elizabeth Warren, Bernie Sanders And Rand Paul Condemn Trump's 'Big Beautiful' Bill: 'Not Good Enough For The Rest Of Our Nation'

BlackRock iShares USD TIPS 0-5 UCITS ETF USD (Dist)

Comments

Actualités

Dernières nouvelles pour (OTC:ITIPF) Stock

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL