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UY Scuti Acquisition Corp

Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) reported quarterly earnings of $1.88 per share which beat the analyst consensus estimate of $1.64 by 14.63 percent. This is a 2.08 percent decrease over earnings of $1.92 per share from the same period last year. The company reported quarterly sales of $5.74 billion which beat the analyst consensus estimate of $5.59 billion by 2.71 percent. This is a 0.95 percent decrease over sales of $5.80 billion the same period last year.

Earnings

News

Danaher Q1 2025 Adj EPS $1.88 Beats $1.64 Estimate, Sales $5.74B Beat $5.59B Estimate

Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.64 by 15.24 percent. This is a 60.17 percent increase over earnings of $1.18 per share from the same period last year. The company reported quarterly sales of $4.46 billion which missed the analyst consensus estimate of $4.56 billion by 2.11 percent. This is a 1.34 percent increase over sales of $4.41 billion the same period last year.

Earnings Beats

Earnings Misses

Synchrony Finl Q1 GAAP EPS $1.89 Beats $1.64 Estimate, Sales $4.46B Miss $4.56B Estimate

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

Elevance Health Q1 2025 Adj. EPS $11.97 Beats $11.38 Estimate, Sales $48.765B Beat $46.290B Estimate

The shares of First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) jumped 7.18% to $122.45 during the pre-market session on Tuesday after the U.S. finalized plans to impose steep tariffs on most solar cells imported from Southeast Asia on Monday.
What Happened: Firms within the American Alliance for Solar Manufacturing Trade Committee have accused major Chinese solar panel manufacturers with factories in Malaysia, Cambodia, Thailand, and Vietnam of selling panels below production cost and benefiting from unfair subsidies, making American products uncompetitive, Reuters reported on Monday.
The case was initiated last year by Korea&#8217;s&nbsp;Hanwha Qcells, Arizona-based First Solar Inc., and several smaller producers.
The tariffs finalized on Monday vary significantly based on the company and country, with products from Cambodia facing duties exceeding 3,500% as a result of non-cooperation with the U.S. investigation. 
Jinko Solar&#8216;s Malaysian products were subject to some of the lowest combined anti-dumping and countervailing duties at 41.56%, while competing Trina Solar's Thai products were hit with steep tariffs of 375.19%.
To finalize the tariffs, the International Trade Commission must vote in June to determine if the industry was significantly harmed by the unfairly priced and subsidized imports.
See Also: <a href="https://benzinga.com/news/25/04/44902888/kevin-oleary-says-chinas-actions-have-wiped-out-millions-of-american-companies-i-dont-know-why-anyone-is-oka" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Says China&#8217;s Actions Have &#8216;Wiped Out&#8217; Millions Of American Companies—&#8217;I Don&#8217;t Know Why Anyone Is Okay With It&#8217;</a>
Why It Matters: China, which dominates 90% of the solar supply chain, has established factories across Southeast Asia to bypass U.S. tariffs. The new duties mark another blow as the U.S. ramps up its crackdown on Chinese imports.
In November, the U.S. Department of Commerce announced tariffs between 21% and 271% for Chinese solar panels sold through subsidiaries in Cambodia, Vietnam, Thailand and Malaysia. During the 2024 election, President Donald Trump pledged to impose tariffs on specific Chinese imports, including solar panels. 
Against this backdrop, Piper Sandler analyst Kashy Harrison stated in January that First Solar could <a href="https://www.benzinga.com/markets/25/01/42779225/this-domestic-solar-stock-fslr-could-shine-in-your-portfolio-if-president-elect-donald-trump-imposes-tariffs-on-chinese-solar-panels">gain significantly</a> from this development.
However, critics, including the Solar Energy Industries Association (SEIA), argue that the proposed tariffs could hurt U.S. solar manufacturers by increasing the cost of imported cells used in panel assembly at American factories which have been expanding since the clean energy manufacturing subsidy was introduced in 2022.
First Solar holds a Growth rating of 96.08% and a quality rating of 89.80%, according to&nbsp;<a href="https://www.benzinga.com/quote/FSLR" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock's historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>
<ul>
<li>Read More: <a href="https://benzinga.com/25/04/44914995/nvidia-dropped-nearly-5-on-monday-after-report-surfaced-chinas-huawei-is-mass-shipping-ai-chips-but-bernstein-ana" target="_blank" rel="noreferrer noopener">Nvidia Stock Fell Nearly 5% On Monday After Huawei Mass Shipping AI Chips In China Report Surfaced, But Bernstein Analyst Says It Doesn&#8217;t Matter: &#8216;They Can&#8217;t Compete Anyway&#8217;</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.

Equities

Markets

FSLR

First Solar Stock Surges Over 7% In Pre-Market As US Sets Up To 3,500% Tariffs On Chinese-Owned Southeast Asian Solar Cells

Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) has revealed a $50 billion investment plan centering on manufacturing and research in the U.S., indicating a strategic change as<a href="https://www.benzinga.com/government/regulations/25/04/44847222/trump-administration-opens-probe-into-foreign-drug-imports-eyes-tariffs-under-national-security-law"> potential drug tariffs loom</a>.
What Happened: The Swiss pharmaceutical giant will establish new and expanded facilities across Indiana, Pennsylvania, Massachusetts, and California over the next five years.
The move entails crucial R&amp;D hubs, new production sites for weight-loss and gene therapies, and extended diagnostic operations. The plan is likely to create over 12,000 jobs, including thousands in facility staffing and construction.
See Also: <a href="https://www.benzinga.com/news/global/25/04/44899617/90-chance-of-recession-due-to-trumps-tariffs-sharp-slowdown-is-coming-economist-says">90% Chance Of Recession Due To Trump&#8217;s Tariffs: &#8216;Sharp Slowdown&#8217; Is Coming, Economist Says</a>
Why It Matters: The announcement was made as the pharmaceutical sector readies itself for possible tariffs on imported medicines. While drugs have so far been exempted, President Trump recently <a href="https://www.benzinga.com/25/04/44724763/pharma-industry-faces-jitters-as-trump-hints-at-historic-tariffs-bofa-outlines-probable-timeline">warned </a>that new tariffs on pharmaceuticals are coming shortly.
Roche's CEO Thomas Schinecker said the investment shows the company's "long-standing commitment" to U.S.-based innovation and production, according to the Wall Street Journal.
Once the plan is executed, Roche expects to export more medicines from the U.S. than it imports.
Earlier this month, President Trump proposed a &#8220;<a href="https://www.benzinga.com/25/04/44708204/trump-hints-at-major-tariff-on-imported-pharmaceuticals-us-pharma-stocks-tumble-in-wednesday-pre-market">major tariff</a>&#8221; on foreign pharmaceuticals, indicating that U.S. dependence on imports poses national security risks. The U.S. Department of Commerce is investigating the effect of these imports on the domestic supply chain, targeting essential medicines and public health readiness.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44907170/upcoming-pfizer-earnings-call-might-be-focused-on-tariffs-policy-risks-and-obesity-pipeline">Upcoming Pfizer Earnings Call Might Be Focused On Tariffs, Policy Risks And Obesity Pipeline</a></li>
</ul>
Photo courtesy: Shutterstock

Health Care

General

RHHBY

Roche's $50 Billion US Investment Commitment Includes New Facilities, 12,000 Jobs, Expanded R&D Hubs As Drug Tariffs Loom

U.S. stock futures rebounded on Tuesday following Monday&#8217;s selloff. Futures of major benchmark indices were higher in premarket.
President Donald Trump <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44910907/top-fed-voices-defend-powell-slam-trumps-attack-on-central-bank-independence">attacked</a> Federal Reserve Chairman Jerome Powell on Monday via a Truth Social post. He called him &#8220;Mr. Too Late,&#8221; and urged the Fed Chair to cut rates preemptively.
This <a href="https://www.benzinga.com/25/04/44914873/walgreens-to-pay-up-to-350m-for-illegal-opioid-prescriptions-doj-says">triggered a market selloff</a>, raising concerns about the central bank&#8217;s independence and Trump&#8217;s interference with the monetary policy.
The 10-year Treasury bond yielded 4.40%, and the two-year bond was at 3.79%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>s projections show markets pricing an 89.5% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.00%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>1.01%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.98%</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, rose in premarket on Tuesday. The SPY was up 1.06% to $519.32, while the QQQ declined 1.11% to $437.92, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Energy, consumer discretionary, and information technology sectors pulled the U.S. stocks down on Monday.
Shares of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;fell around 5.8%, while&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;lost about 4.5% on Monday.&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;shares dipped around 5% during the session.
Comerica Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) fell despite&nbsp;reporting better-than-expected earnings for its first quarter on Monday.
After Monday&#8217;s close, the Nasdaq 100 was down 19.86% from its all-time high of 22,222.61 points. The S&amp;P 500 index was 16.09% lower than its previous record of 6,147.43 points, and the Dow Jones was 18.09% below its 52-week high of 45,073.63 points.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.55%</td>
<td>15,870.90</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-2.36%</td>
<td>5,158.20</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-2.48%</td>
<td>38,170.41</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.14%</td>
<td>1,840.32</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Senior economist Jeremy Siegel stated in his weekly WisdomTree note that &#8220;Markets show signs of tension.&#8221;
According to him, tariffs may drive a temporary bump in spending as firms and households rush to front-load purchases, but that demand is borrowed from future quarters. That's not sustainable; it's a warning sign. And once the real price increases filter through to consumer goods, public sentiment will shift quickly.
&#8220;Earnings are starting to reflect this uncertainty, though much of Wall Street's consensus remains stale, still anchored in pre-tariff forecasts. CEOs should be updating their models now to reflect multiple trade scenarios, especially those most exposed to China or to consumer imports.&#8221;
Siegel also highlighted that Powell will be blamed for any issues arising from Trump&#8217;s policy decisions.
&#8220;I expect Trump to increasingly blame the ‘too slow Powell' for any downsides that materialize from Trump's policies. Powell may be technically secure in his position, but that doesn't mean he's insulated from blame.&#8221;
Lastly, he advised that &#8220;For income, I continue to favor dividend-paying equities and international exposure over long-duration bonds.&#8221;
Fundstrat&#8217;s Tom Lee urged Scott Bessent and Howard Lutnick to <a href="https://www.benzinga.com/25/04/44915795/tom-lee-urges-bessent-and-lutnick-to-put-points-on-the-board-for-a-positive-policy-shock-to-the-stock-market">deliver swift trade deals</a>, aiming for a positive market &#8220;policy shock.&#8221;
Echoing Charles Gasparino&#8217;s call for the White House to &#8220;put points on the board,&#8221; which is a sales jargon for quick action during a slump, Lee stated that the market is sending this same message to Bessent, Lutnick, and the Trump&#8217;s trade team.
"They got to cut some deals and let the world know, and they have to do so soon because this could get even uglier," Gasparino's post added.
<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 is true &#x1f447; White House needs to put &quot;points on the board&quot; &#8211; this would be a positive &quot;policy shock&quot; <a href="https://t.co/XE4B6oVUi1">https://t.co/XE4B6oVUi1</a>
&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href="https://twitter.com/fundstrat/status/1914421616471380033?ref_src=twsrc%5Etfw">April 21, 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/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Tuesday:
<ul>
<li>Philadelphia Fed President Patrick Harker will speak at 9:30 a.m., Minneapolis Fed President Neel Kashkari will speak at 2:00 p.m., and Richmond Fed President Tom Barkin will speak at 2:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) rose 0.75% in premarket on Tuesday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $1.15 per share on revenue of $33.24 billion.</li>
</ul>
<ul>
<li>3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) was 0.06% below the flatline as Wall Street expects it to report earnings of $1.77 per share on revenue of $5.76 billion after the closing bell.</li>
</ul>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was up 0.66% as it is expected to report earnings after the closing bell. Analysts expect a quarterly earnings of 41 cents per share on revenue of $21.35 billion.</li>
</ul>
<ul>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) declined 4.66% after posting weaker-than-expected sales for its fourth quarter on Monday. The company reiterated its FY26 EPS forecast of $5.50-$6.10 on revenue of $1.625 billion-$1.725 billion.</li>
</ul>
<ul>
<li>Calix Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) jumped 13.14% after reporting better-than-expected first-quarter financial results and issuing strong second-quarter guidance. The company also announced an authorized increase to its stock repurchase program.</li>
</ul>
<ul>
<li>Guidewire Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) advanced 0.97% after committing $60 million to advance cloud-based insurance innovation and compliance in Japan.</li>
</ul>
<ul>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) jumped 2%, while Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) was 1.28% higher after the former launched AI-ready commodities data integrated with MSFT&#8217;s 365 Copilot.</li>
</ul>
<ul>
<li>Atkore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATKR#NYSE">ATKR</a>) climbed 5.08% after reporting preliminary second-quarter results, maintaining its full-year outlook.</li>
</ul>
<ul>
<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLI#NYSE">SLI</a>) surged 45% after its South West Arkansas Project received special designation as a priority transparency critical mineral project from the Trump Administration.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.68% to hover around $63.46 per barrel.
Gold Spot US Dollar advanced 0.92% to hover around $3,455.17 per ounce. Its fresh record high stood at $3,499.92 per ounce. The U.S. Dollar Index spot was higher by 0.07% at the 98.3450 level.
Asian markets were mostly lower on Wednesday, Hong Kong's Hang Seng and India's S&amp;P BSE Sensex index advanced, while Japan's Nikkei 225, China&#8217;s CSI 300, Australia's ASX 200, and South Korea's Kospi index ended lower. European markets were mixed in early trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44916388/chicago-fed-chair-goolsbee-agrees-with-bessent-fed-independence-is-a-jewel-box-awaits-tariff-revisit-before-jumping-to-action">Chicago Fed Chair Goolsbee Agrees With Bessent: &#8216;Fed Independence Is A Jewel Box,&#8217; Awaits Tariff Revisit Before &#8216;Jumping To Action&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Futures

Treasuries

Economics

Federal Reserve

Pre-Market Outlook

AMZN

ATKR

CALX

GWRE

MSFT

NVDA

SPGI

TSLA

US Stocks Likely To Open Higher Amid Trump's Preemptive Rate Cut Call:  Earnings Are Starting To Reflect This 'Uncertainty,' Says Expert

Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.19 by 1.68 percent. This is a 9.7 percent decrease over earnings of $1.34 per share from the same period last year. The company reported quarterly sales of $57.25 million which missed the analyst consensus estimate of $57.43 million by 0.31 percent. This is a 1.68 percent decrease over sales of $58.23 million the same period last year.

MBWM

Mercantile Bank Q1 EPS $1.21 Beats $1.19 Estimate, Sales $57.25M Miss $57.43M Estimate

ALLT

Allot Launches New OffNetSecure Solution To Protect Telecom Customers Against Cyberthreats

Jim&nbsp;Simons, a mathematician turned investor with remarkable success, once mentioned to a group of students that the only rule he&#8217;s stood by while investing is not letting gut instinct interfere with his math. 
What Happened: In a newly resurfaced 2014 talk at San&nbsp;Francisco State University, the Renaissance&nbsp;Technologies founder explained the hedge fund's cardinal rule: "We never override the computer. No one ever comes in any day and says the computer wants to do this and that's crazy and we shouldn't do it&nbsp;…&nbsp;You just stick with it, and it's worked."
The comment offers a rare window into the firm behind the Medallion Fund, whose returns, roughly 66&nbsp;percent a year before fees between 1988 and 2018, have made Simons a legend on Wall Street. Renaissance builds thousands of predictive signals from decades of market data, then lets <a href="https://www.benzinga.com/money/best-automated-trading-software">algorithms trade automatically</a> across stocks, futures and currencies. 
Human second‑guessing, Simons said, would break the historical testing that underpins every line of code: "You can't study the past and wonder whether the boss was gonna come in and change his mind."
See also: <a href="https://www.benzinga.com/25/04/44915713/charlie-munger-once-said-he-could-go-on-and-on-listing-why-he-wont-want-donald-trump-in-the-oval-office">Charlie Munger Once Predicted That Trump Could Be &#8216;Quite Decisive&#8217; But Still Didn&#8217;t Want Him To Be President: Here&#8217;s Why</a>
Quant funds routinely tweak models, but outright vetoes risk injecting bias and erasing the statistical edge. Simons, a former National Security Agency code‑breaker and Stony&nbsp;Brook University math chair, argued that discipline mattered more than any single signal. "The only rule is you never hit the override button," he told students, calling it the bedrock of Renaissance's culture.
What To Know: Mathematician‑turned‑hedge‑fund legend, Simons, was born in Newton, Massachusetts, in 1938, earned a Ph.D. from Berkeley, co‑created Chern‑Simons theory, chaired Stony Brook's math department, and later founded <a href="https://www.benzinga.com/topic/renaissance-technologies">Renaissance Technologies</a>, whose model‑driven trades rewrote Wall Street records.
With his wife Marilyn, Simons launched the Simons Foundation in&nbsp;1994, channeling billions to math, basic science, and autism research. The billionaire philanthropist <a href="https://www.benzinga.com/news/24/05/38768433/jim-simons-groundbreaking-quantitative-hedge-fund-founder-who-provided-exceptional-returns-for-inves">died in New&nbsp;York</a> at&nbsp;86, leaving three children, five grandchildren, and a great‑grandchild.
Read next: <a href="https://www.benzinga.com/news/25/04/44916124/frozen-pizza-sales-surge-like-2009-recession-as-americans-cut-back-on-dining-out-amid-economic-strain">Frozen Pizza Sales Surge, Echoing 2009 Recession Trend As Americans Cut Back On Dining Out Amid Economic Strain</a>

Success Stories

Personal Finance

Jim Simons Stood By One Quant Investing Rule That Helped Him Earn 66% Returns For 30 Years, 'You Just Stick With It, And It Worked'

Harvard University has filed a lawsuit against the Donald Trump administration in a federal court, challenging a threat to cut billions in research funding unless the school adheres to a range of controversial demands.
The lawsuit is an escalation in the ongoing conflicts between elite universities and federal authorities.
What Happened: Filed in Massachusetts, the suit resists against government attempts to audit faculty, surveil international students, and impose ideological oversight.
Harvard President Alan Garber labeled it as a move to enforce "unprecedented and improper control" over academic decisions. The funding freeze, <a href="https://www.benzinga.com/25/04/44804541/trump-administration-halts-2-2-billion-in-harvard-grants-after-university-says-dont-dictate-what-we-can-teach-or-who-we-admit">amounting to $2.2 billion</a>, has already interrupted crucial research projects, including studies on tuberculosis and A.L.S., according to <a href="https://www.nytimes.com/2025/04/21/us/harvard-lawsuit-trump-administration.html">a</a> New York Times report.
Last week, the Trump Administration also asked the Internal Revenue Service (IRS) to <a href="https://www.benzinga.com/25/04/44855064/trump-administration-asks-irs-to-revoke-harvards-tax-exempt-status-after-president-accuses-ivy-league-university-of-pushing-sickness">take away Harvard University's tax-exempt</a> status.
See Also: <a href="https://www.benzinga.com/general/entertainment/25/04/44893684/bill-gates-harvard-professor-thought-what-a-waste-when-he-left-academia-but-that-small-company-he-founded-changed-the-world">Bill Gates&#8217; Harvard Professor Thought, &#8216;What A Waste&#8217; When He Left Academia, But That &#8216;Small Company&#8217; He Founded Changed The World</a>
Why It Matters: The administration justifies its decisions as part of a larger clampdown on campus "antisemitism" but Harvard views the measures as gross violations of constitutional rights and lacking in legal basis. "The university will not surrender its independence," Garber told the community amid the ongoing crisis.
Prominent figures in higher education are supporting Harvard's challenge. Ted Mitchell, head of the American Council on Education, hailed the lawsuit as a stand against political interference.
With Harvard aiming for a fast-track resolution, the case could have long-term implications for how universities protect their autonomy.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44882365/trumps-energy-department-mulls-cutting-billions-in-clean-energy-funds-threatening-exxon-occidental-projects">Trump&#8217;s Energy Department Mulls Cutting Billions In Clean-Energy Funds, Threatening Exxon, Occidental Projects</a></li>
</ul>
Photo courtesy: Rawpixel.com / Shutterstock.com

Government

Politics

Harvard Sues Trump Administration For Attempting To Withhold Billions In Federal Grants

LIPO

Lipella Posts Productive Results From The Second Cohort Of Trial Evaluating LP-310 For The Treatment Of Oral Lichen Planus; Expects Final Results In Q2 FY25

Shares of Calix, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) rose sharply in today's pre-market trading as the company reported better-than-expected first-quarter financial results and issued strong <a href="https://in.benzinga.com/news/buybacks/25/04/44911715/calix-stock-jumps-on-strong-q1-earnings-100-million-buyback-increase">second-quarter guidance</a>.
After market close on Monday, cloud and managed services company Calix announced that its board increased its buyback authorization by an additional $100 million, bringing the total repurchase authorization up to $162.9 million.
Calix reported first-quarter revenue of $220.24 million, beating analyst estimates of $206.98 million. The company reported first-quarter adjusted earnings of 19 cents per share, beating estimates of 13 cents per share, according to Benzinga Pro.
Calix shares jumped 13.1% to $37.61 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Gelteq Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GELS#NASDAQ">GELS</a>) rose 329% to $3.97 in pre-market trading.</li>
<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLI#NYSE">SLI</a>) surged 44.2% to $2.02 in pre-market trading. Smackover Lithium&#8217;s South West Arkansas Project has received a special designation as a priority transparency critical mineral project from the Trump Administration.</li>
<li>SUNation Energy Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUNE#NASDAQ">SUNE</a>) gained 36.2% to $3.80 in pre-market after dipping 30% on Monday.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) surged 25.3% to $1.09 in pre-market trading after dipping over 22% on Monday.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) gained 25% to $15.25 in pre-market trading after falling around 20% on Monday.</li>
<li>IT Tech Packaging, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITP#NYSE">ITP</a>) jumped 22.4% to $0.2880 in pre-market trading after dipping 11% on Monday.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) rose 21.8% to $1.51 in pre-market trading r after the company announced it regained Nasdaq compliance.</li>
<li>Solaris Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLSR#NYSE">SLSR</a>) rose 17.4% to $3.98 in pre-market trading.</li>
<li>Adaptive Biotechnologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADPT#NASDAQ">ADPT</a>) gained 17% to $7.99 in pre-market trading. Adaptive Biotechnologies will report financial results for the first quarter after market close on Thursday, May 1.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>MKDWELL Tech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKDW#NASDAQ">MKDW</a>) fell 43.5% to $0.22 in pre-market trading after jumping over 70% on Monday.</li>
<li>TNL Mediagene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNMG#NASDAQ">TNMG</a>) fell 36.7% to $0.1857 in pre-market trading after declining 5% on Monday.</li>
<li>SHF Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>) shares fell 22.2% to $3.26 in pre-market trading after jumping around 96% on Monday.</li>
<li>Outset Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) shares tumbled 16.8% to $8.30 in pre-market trading. Outset Medical will release financial results for the first quarter after the close of trading on Wednesday, May 7.</li>
<li>National Energy Services Reunited Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NESR#NASDAQ">NESR</a>) shares fell 16.4% to $5.00 in pre-market trading.</li>
<li>INmune Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INMB#NASDAQ">INMB</a>) fell 16.1% to $6.11 in pre-market trading.</li>
<li>Gulf Resources, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GURE#NASDAQ">GURE</a>) shares dipped 11.7% to $0.6890 in pre-market trading after dipping over 17% on Monday.</li>
<li>USA Rare Earth, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAR#NASDAQ">USAR</a>) declined 9.3% to $10.65 in pre-market trading. USA Rare Earth will release financial results for the first quarter, after the closing bell on Wednesday, May 14.</li>
<li>Tyra Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TYRA#NASDAQ">TYRA</a>) fell 7.3% to $8.40 in today's pre-market trading.</li>
<li>SITE Centers Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) dipped 5.7% to $11.01 in pre-market trading.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/25/04/44896269/how-to-earn-500-a-month-from-3m-stock-ahead-of-q1-earnings">How To Earn $500 A Month From 3M Stock Ahead Of Q1 Earnings</a> </li>
</ul>
Photo via Shutterstock

Movers

Trading Ideas

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MicroCloud Hologram Inc. - Ordinary Shares

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Why Calix Shares Are Trading Higher By 13%; Here Are 20 Stocks Moving Premarket

The Primary School, a tuition-free private institution co-founded by Priscilla Chan, wife of Meta Platforms Inc. founder Mark Zuckerberg, will shut down after the 2025-2026 school year, the organization announced.
What Happened: Founded in 2016, the school aimed to integrate healthcare, education, and family support by bringing together parents, educators, and medical providers to serve underserved communities. The school currently operates two locations in East Palo Alto and East Bay, California.
&#8220;This was a very difficult decision,&#8221; said Jean-Claude Brizard, President of the school&#8217;s board, in a statement. The closure comes despite Chan and Zuckerberg&#8217;s continued investment in education and scientific research through their Chan Zuckerberg Initiative (CZI). The school has not publicly disclosed specific reasons for the closure.
To support the transition, CZI will invest $50 million over the next few years in the affected communities. The investment includes funding for 529 education savings plans for students, transition specialists, and support for families moving to new schools.
See Also: <a href="https://www.benzinga.com/25/04/44915795/tom-lee-urges-bessent-and-lutnick-to-put-points-on-the-board-for-a-positive-policy-shock-to-the-stock-market">Tom Lee Urges Bessent And Lutnick To &#8216;Put Points On The Board&#8217; For A &#8216;Positive Policy Shock&#8217; To The Stock Market</a>
Why It Matters: Some students will join the Ravenswood City School District, which has collaborated with The Primary School since its inception. 
The school&#8217;s innovative approach was designed to address systemic challenges facing underserved communities by creating a comprehensive support network for children from infancy through early adolescence. It currently serves over 300 families in East Palo Alto.
While The Primary School is closing, <a href="https://www.benzinga.com/general/entertainment/24/08/40411578/meta-ceo-mark-zuckerberg-commissions-statue-of-wife-priscilla-chan-sparks-online-buzz-bring">CZI continues its broader mission</a> through recently announced scientific &#8220;grand challenges&#8221; focused on the artificial intelligence-biology intersection to advance human health, including the development of an AI-based virtual cell model and new inflammation measurement tools.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/commodities/25/04/44915727/gold-tops-3500-as-investors-flee-to-safety-mohamed-el-erian-warns-of-global-system-shift-amid-trump-powell-tensions">Gold Tops $3,500 As Investors Flee To Safety: Mohamed El-Erian Warns Of Global System Shift Amid Trump-Powell Tensions</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Tech

Mark Zuckerberg's Wife Priscilla Chan's Tuition-Free School To Shutdown, $50 Million Support Pledged For Transition

The &#8216;Mag 7&#8217; or Magnificent 7 stocks, comprising the most influential U.S.-based companies, with a combined market capitalization of $13.6 trillion, have had their worst month and quarter on record, with still a week left to go. 
What Happened: On Monday, Bespoke Investment Group, a New York-based investment advisory company, shared on its X account the 6-month chart of the Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>), a fund that offers equal weight exposure to the Magnificent 7 stocks.
The first-ever ETF to track the Mag 7, it allocates between 13% to 15% of its assets to each of the seven stocks: Apple Inc., Alphabet Inc., Amazon.com Inc., Meta Platforms Inc., Microsoft Corp., Nvidia Corp., and Tesla Inc.
See More: <a href="https://www.benzinga.com/markets/25/04/44916134/nvidia-and-apple-caught-in-the-crosshairs-of-trumps-trade-war-with-china-says-jim-cramer-until-trump-became-president">Nvidia And Apple &#8216;Caught In The Crosshairs&#8217; Of Trump&#8217;s Trade War With China, Says Jim Cramer: &#8216;Until Trump Became President&#8230;&#8217;</a>
Bespoke highlights the fund&#8217;s performance this month, especially the chart pattern between 9th April and today. The fund witnessed a steep pullback starting with the tariffs on Liberation Day, followed by a recovery when President Donald Trump announced a 90-day pause to the tariffs. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So much for &quot;the pause&quot; doing anything to stop the post-tariff bleeding. The Mag 7 ETF <a href="https://twitter.com/search?q=%24MAGS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MAGS</a> is now cents away from giving up all of its post-&quot;pause&quot; gains. <a href="https://t.co/FVEMFgbYcG">pic.twitter.com/FVEMFgbYcG</a>
&mdash; Bespoke (@bespokeinvest) <a href="https://twitter.com/bespokeinvest/status/1914326018900349227?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Now, less than two weeks since &#8220;the pause,&#8221; the tweet highlights that the fund is merely &#8220;cents away&#8221; from giving up all of its &#8220;post-pause&#8221; gains. &#8220;So much for the pause doing anything to stop the post-tariff bleeding,&#8221; it adds, as tariff-related uncertainties continue to weigh on stocks.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Stock / ETF</td>
<td class="has-text-align-center" data-align="center">Year-To-Date</td>
<td class="has-text-align-center" data-align="center">52 Week High-Low</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>)</td>
<td class="has-text-align-center" data-align="center">-$13.10&nbsp;(-24.19%)</td>
<td class="has-text-align-center" data-align="center"> $55.80 &#8211; $39.01 <a href="https://www.google.com/finance/quote/MAGS:BATS?sa=X&amp;ved=2ahUKEwjhkby4oeuMAxW4UfUHHTrsMv0Q3ecFegQILRAX"></a></td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td class="has-text-align-center" data-align="center">-$50.69&nbsp;(-20.79%)</td>
<td class="has-text-align-center" data-align="center">$260.09 &#8211; $164.77</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td class="has-text-align-center" data-align="center">-$40.77&nbsp;(-21.39%)</td>
<td class="has-text-align-center" data-align="center">$208.70 &#8211; $142.66</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td class="has-text-align-center" data-align="center">-$52.90&nbsp;(-24.02%)</td>
<td class="has-text-align-center" data-align="center">$242.52 &#8211; $151.61</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td class="has-text-align-center" data-align="center">-$114.58&nbsp;(-19.12%)</td>
<td class="has-text-align-center" data-align="center">$740.89 &#8211; $414.50</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td class="has-text-align-center" data-align="center">-$59.46&nbsp;(-14.21%)</td>
<td class="has-text-align-center" data-align="center">$468.35 &#8211; $344.79 </td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td class="has-text-align-center" data-align="center">-$41.40&nbsp;(-29.93%)</td>
<td class="has-text-align-center" data-align="center">$153.13 &#8211; $76.40</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td class="has-text-align-center" data-align="center">-$151.86&nbsp;(-40.04%)</td>
<td class="has-text-align-center" data-align="center">$488.54 &#8211; $138.80</td>
</tr>
</tbody>
</table>
</figure>
Why It Matters: When <a href="https://www.benzinga.com/markets/25/04/44656898/market-mayhem-persists-as-tariffs-spark-turmoil-experts-say-dont-panic">markets began to crumble</a> during the first few weeks of the tariffs, U.S. Treasury Secretary Scott Bessent was quoted as saying that this selloff &#8220;was more a MAG 7 problem than a MAGA one,&#8221; before calling it a <a href="https://benzinga.com/25/04/44652055/its-more-a-mag-seven-problem-than-a-maga-one-treasury-secretary-says-as-wall-street-meltdowns">reassessment of U.S. tech stock</a> valuations following China&#8217;s Deepseek AI breakthrough. 
Senior tech analyst Dan Ives of Wedbush Securities has repeatedly <a href="http://benzinga.com/general/market-summary/25/04/44623604/us-stock-likely-to-open-lower-following-trumps-tariffs-worse-than-the-worst-case-scenario-says-analyst">called the tariffs</a> &#8220;worse than the worst-case scenario,&#8221; especially for tech stocks like Apple. Following the pause, he added that the decision <a href="https://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">saved the markets</a> from the &#8220;edge of the cliff,&#8221; while noting that China will still be the biggest &#8220;wild card&#8221; for U.S. tech.
According to Yogesh Kansal, the founder and CEO of investing platform Appreciate, stocks such as Alphabet, Amazon, and Microsoft are now &#8220;undervalued&#8221; based on their free cash flow metrics. Kansal sees this selloff as a buying opportunity, reported <a href="https://www.financialexpress.com/business/investing-abroad-how-the-magnificent-seven-stocks-are-navigating-in-2025-3794939/">by</a> The Financial Express.
<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="207" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22050508/Screenshot-2025-04-22-at-2.34.52-PM-1024x207.png" alt="" class="wp-image-881389" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22050508/Screenshot-2025-04-22-at-2.34.52-PM-1024x207.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22050508/Screenshot-2025-04-22-at-2.34.52-PM-300x61.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22050508/Screenshot-2025-04-22-at-2.34.52-PM-768x155.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22050508/Screenshot-2025-04-22-at-2.34.52-PM.png 1130w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga Edge Stock Rankings, the Roundhill Magnificent Seven ETF has unfavorable price trends in the short, medium, and long-term. What about other tech-focused ETFs? 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> to find out.
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Photo courtesy: Shutterstock

AAPL

GOOG

GOOGL

MAGS

Tariff Pause Fizzles: 'Mag 7' Stocks Slide Back To Pre-Pause Lows

A memecoin based on Cardinal Secretary of State Pietro Parolin skyrocketed in value Monday, as the key Vatican figure surfaced as a strong contender to succeed the late Pope Francis.
What happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token POPE was up 770% in the last 24 hours, running into a market capitalization of $260,930, <a href="https://coinmarketcap.com/dexscan/solana/4SY4ets7xtdri5BEucshsLHxJdLWHw6kXbzKoUzEpa3N/">according </a>to CoinMarketCap.
Similarly, a memecoin themed on Cardinal Luis Antonio Tagle, another high-ranking clergy of the Catholic Church, shot up to 1012% in the last 24 hours.
Note that the two tokens operated at a thin liquidity and could only be traded on Raydium, a Solana-based decentralized exchange. Furthermore, CoinMarketCap released a disclaimer stating that the memecoins were yet to be verified and advised traders to DYOR.
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/markets/cryptocurrency/25/04/44891685/gary-black-shares-polymarket-data-says-trump-tariffs-have-pushed-odds-of-2025-recession-to-57">Gary Black Shares Polymarket Data, Says Trump Tariffs Have Pushed Odds Of 2025 Recession To 57%</a>
Why It Matters: The rally coincided with growing speculation over who would take the position of the global head of the Catholic Church, which was left vacant <a href="https://www.benzinga.com/news/25/04/44892537/pope-francis-first-south-american-pontiff-and-peoples-pope-dies-at-88">after Pope Francis died at the age of 88</a>.
Cryptocurrency bettors placed the highest odds of 34% in favor of Cardinal Parolin, followed by 23% for Cardinal Tagle, <a href="https://polymarket.com/event/who-will-be-the-next-pope">according </a>to Polymarket. More than $3 million has already been wagered on the outcome.
Moreover, the odds that a European would be the next Pope were 65%, according to a separate betting <a href="https://polymarket.com/event/what-continent-will-next-pope-be-from?tid=1745311546456">contract</a>, while the chances of an Asian becoming the supreme pontiff were 22%.
Notably, Cardinal Parolin is from Italy, while Cardinal Tagle is a Filipino.
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.
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Image Via Shutterstock

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Cardinal Pietro Parolin-Themed Coin Skyrockets 770% As Crypto Bettors Think Vatican's Secretary Of State Has Strong Chance Of Succeeding Pope Francis

COEP

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Mercantile Bank Q1 2025 GAAP EPS $1.21 Beats $1.19 Estimate, Sales $57.25M Miss $57.43M Estimate

Chicago Federal Reserve President Austan Goolsbee has underlined the need to wait for policy action on tariffs before jumping to any &#8220;action,&#8221; while agreeing with Treasury Secretary Scott Bessent&#8216;s comments on the central bank&#8217;s independence being like a &#8220;jewel box&#8221; that needs to be preserved.
What Happened: Goolsbee, while talking about preemptive rate cuts <a href="https://www.cnbc.com/video/2025/04/21/watch-cnbcs-full-interview-with-chicago-fed-president-austan-goolsbee.html">on</a> CNBC, reaffirmed Federal Reserve Chairman Jerome Powell&#8216;s stance on waiting for further policy before altering the path of the monetary policy.
&#8220;We&#8217;re getting retaliation announced, we&#8217;re talking about revisiting the tariffs in 90 days, and we don&#8217;t know what the impact on the supply chain is going to be. So I think we want to be a little more the steady hand and trying to figure out the through line before we&#8217;re jumping to action,&#8221; said Goolsbee.
President Donald Trump <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44910907/top-fed-voices-defend-powell-slam-trumps-attack-on-central-bank-independence">called for preemptive rate cuts</a> in a Truth Social post on Monday and heavily criticized Jerome Powell, calling him &#8220;Mr. Too Late&#8221;.
Meanwhile, his cabinet also hinted at ways to fire Powell from his position as the Fed Chair. Last week on Friday, economic adviser Kevin Hassett told the reporters at the White House that Trump and his team would &#8220;<a href="https://www.benzinga.com/25/04/44888232/trumps-top-economic-adviser-kevin-hassett-says-white-house-is-exploring-options-to-fire-fed-chair-jerome-powell-the-president-and-his-team-will-continue-to-study">continue to study</a>&#8221; whether Powell could be fired.
However, Bessent <a href="https://www.bloomberg.com/news/articles/2025-04-17/trump-says-fed-chair-powell-s-termination-can-t-come-fast-enough">told</a> Bloomberg Television last week that Fed independence in deciding on monetary policy was a "jewel box that has got to be preserved." &#8211;
Agreeing with Bessent, Goolsbee said, &#8220;I agree with the Secretary of the Treasury when he said Fed independence is a jewel box that we don&#8217;t want to mess with.&#8221;
&#8220;I&#8217;ve been at the Fed for a little over two years. Before I was ever at the Fed, I would tell you that economists are basically unanimous that Fed independence is critically important. And to see why, just look at the countries where they don&#8217;t have Fed independence. Inflation is higher, unemployment is higher, growth is worse,&#8221; he added.
See Also: <a href="https://www.benzinga.com/25/04/44915795/tom-lee-urges-bessent-and-lutnick-to-put-points-on-the-board-for-a-positive-policy-shock-to-the-stock-market">Tom Lee Urges Bessent And Lutnick To &#8216;Put Points On The Board&#8217; For A &#8216;Positive Policy Shock&#8217; To The Stock Market</a>
Why It Matters: This comes after Powell hinted at no sign of a &#8216;Fed put&#8217; in the near term. He said, &#8220;For the time being, we are well-positioned to wait for greater clarity before considering any adjustments to our policy stance,&#8221; said Powell at the Economic Club of Chicago, Chicago, Illinois, on April 16.
Fed should be &#8220;following its legal mandate, stabilize prices, maximize employment, and it is the conditions that determine what Fed actions are right or not,&#8221; said Goolsbee.
&#8220;The difficult part of a scenario for a central bank is if both sides of the mandate start going wrong at the same time.&#8221;
Price Action: Trump&#8217;s Truth Social post about Powell triggered a selloff on Monday as the S&amp;P 500 index tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.36% and the Nasdaq 100 tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slipped 2.46%.
After Monday&#8217;s close, the Nasdaq 100 was down 19.86% from its all-time high of 22,222.61 points. The S&amp;P 500 index was 16.09% lower than its previous record of 6,147.43 points, and the Dow Jones was 18.09% below its 52-week high of 45,073.63 points.
In pre-market on Tuesday, the SPY was up 0.89% and the QQQ advanced 0.91%.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44895384/dollar-slips-to-a-three-year-low-below-98-mark-higher-rates-are-not-supporting-the-dollar-says-expert">Dollar Slips To A Three-Year Low Below 98-Mark: &#8216;Higher Rates Are Not Supporting The Dollar,&#8217; Says Expert</a></li>
</ul>
Photo courtesy: Maxim Elramsisy / Shutterstock.com

Market Summary

Chicago Fed Chair Goolsbee Agrees With Bessent: 'Fed Independence Is A Jewel Box,' Awaits Tariff Revisit Before 'Jumping To Action'

The &#8220;Buy Bitcoin&#8221; sign, immortalized by Christian Langalis during a live Congressional hearing nearly eight years ago, is back in the spotlight as the top cryptocurrency confronts bearish pressures due to macroeconomic uncertainties.
What happened: Langalis, a then 22-year-old Cato Institute intern, impulsively <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38437196/this-famous-buy-bitcoin-sign-netted-an-intern-1m">drew the placard</a> and held it up behind then-Federal Reserve Chair Janet Yellen during her testimony.
While Langalis was escorted out of the hearing room, his spontaneous act resonated with the cryptocurrency community, with Bitcoin rising nearly 3% that day.
Reflecting on the act, Langalis stated that he had "abused" the reputation of his coworkers and employer, but was pleased that the Bitcoin community saw value in it, according to a video shared by well-known Bitcoin advocate and journalist Pete Rizzo.
The response was so overwhelming that Langalis received 7 BTC in donations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">7/ Immediately, Christian was escorted out of the hearing Bouncers descended and removed him from the event You can even see him leaving on the livestream&#8230; <a href="https://t.co/zHevNfrg5k">pic.twitter.com/zHevNfrg5k</a>
&mdash; The Bitcoin Historian (@pete_rizzo_) <a href="https://twitter.com/pete_rizzo_/status/1913986489714622706?ref_src=twsrc%5Etfw">April 20, 2025</a></blockquote>
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At the time, Bitcoin traded at around $2,300 apiece. Cut to April 2025, and the leading asset has skyrocketed to $88,213.10, representing a 3735.35% jump.
Moreover, the sign has <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38437196/this-famous-buy-bitcoin-sign-netted-an-intern-1m">gained an artifact-like status</a> in the cryptocurrency world. Last year, Langalis earned a staggering $1.027 million by selling it at an auction.
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/markets/cryptocurrency/25/04/44891685/gary-black-shares-polymarket-data-says-trump-tariffs-have-pushed-odds-of-2025-recession-to-57">Gary Black Shares Polymarket Data, Says Trump Tariffs Have Pushed Odds Of 2025 Recession To 57%</a>
Why It Matters: The bold messaging may be more pertinent now than ever, given Bitcoin's extended correction following the January bull run.
President Donald Trump&#8217;s sweeping <a href="https://www.benzinga.com/news/global/25/04/44899617/90-chance-of-recession-due-to-trumps-tariffs-sharp-slowdown-is-coming-economist-says">tariff policies</a> have sent the apex cryptocurrency 19% below its all-time highs, eroding a significant portion of investors&#8217; wealth.&nbsp;
While Bitcoin bull and BitMEX co-founder Arthur Hayes has said that the current market may be the last chance to buy BTC for less than $100,000, the asset's increased correlation with stocks this year, as <a href="https://www.theblock.co/data/crypto-markets/prices">highlighted</a> by The Block, may cause others to see it as a risk-on asset rather than a risk-off.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Like the Easter bunny, bounce bounce bounce bounce bounce! Seriously fam, this might be the last chance you have to buy <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &lt; $100k &#x1f609;&#x1f609;&#x1f609;&#x1f609;. New essay drops this week about The BBC Bazooka, treasury buy backs. Yaxhtzee <a href="https://t.co/iYCXqGxsws">pic.twitter.com/iYCXqGxsws</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1914229735506452547?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Price Action: At the time of writing, Bitcoin traded at $88,161.80, up 0.74% 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>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44890965/shiba-inu-team-issues-major-anti-scam-alert-heres-what-you-need-to-know">Shiba Inu Team Issues Major Anti-Scam Alert: Here&#8217;s What You Need To Know</a></li>
</ul>
Photo Courtesy: Paopano On Shutterstock.com

'Bitcoin Sign Guy' Once Became A Symbol Of Early BTC Enthusiasm— But Is The 'Buy' Message Relevant In The Current Market?

Pope Francis, revered for his humility, progressive views, and advocacy for the poor, passed away on Monday at the age of 88, prompting an outpouring of tributes from global leaders, tech CEOs, and entertainment figures.
What Happened: The Vatican confirmed that Pope Francis died following a stroke that led to a coma and <a href="https://www.benzinga.com/news/25/04/44892537/pope-francis-first-south-american-pontiff-and-peoples-pope-dies-at-88">eventual heart failure</a>.
As news of his death spread, bells tolled across Catholic churches worldwide, marking the loss of the first Latin American pontiff in history. Vice President JD Vance met the Pope on Sunday.
Tributes flowed from around the globe, with notable figures expressing their condolences.
President Donald Trump on Truth Social wrote, &#8220;Melania and I will be going to the funeral of Pope Francis, in Rome. We look forward to being there!&#8221;
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22034553/Screenshot-2025-04-22-at-1.15.48%E2%80%AFPM-1024x505.png" alt="" class="wp-image-881222" style="width:457px;height:auto" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/25/04/44914995/nvidia-dropped-nearly-5-on-monday-after-report-surfaced-chinas-huawei-is-mass-shipping-ai-chips-but-bernstein-analyst-says-i-dont-see-why-it-matters-they-cant-compete-anyway">Nvidia Stock Fell Nearly 5% On Monday After Huawei Mass Shipping AI Chips In China Report Surfaced, But Bernstein Analyst Says It Doesn&#8217;t Matter: &#8216;They Can&#8217;t Compete Anyway</a>
In January, Pope Francis criticized Trump's plans to significantly ramp up immigration enforcement across the U.S. in the days following his inauguration.
King Charles, former U.S. Presidents Joe Biden and Barack Obama, and former Canadian Prime Minister Justin Trudeau all expressed sorrow.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The King's message following the death of Pope Francis. <a href="https://t.co/tnwvSoXcMh">pic.twitter.com/tnwvSoXcMh</a>
&mdash; The Royal Family (@RoyalFamily) <a href="https://twitter.com/RoyalFamily/status/1914256295651066006?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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In the tech world, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook called Pope Francis' life one of &#8220;extraordinary grace and deep compassion.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Joining people around the world in mourning Pope Francis today. He lived a life of extraordinary grace and deep compassion. May he rest in peace. <a href="https://t.co/JDSOGe9z3j">pic.twitter.com/JDSOGe9z3j</a>
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1914319193987826180?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) President Brad Smith praised his humility and commitment to social justice.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We join the world in mourning Pope Francis. He led the Catholic Church with humility and strength, and his message of unification across faiths and backgrounds will endure. May he rest in peace.
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1914343358178132138?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Pope Francis&#39; unwavering compassion, humility, and commitment to social justice have inspired millions around the world. He will be deeply missed.
&mdash; Brad Smith (@BradSmi) <a href="https://twitter.com/BradSmi/status/1914393129823953032?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Comedian Jimmy Fallon also shared his condolences, reflecting on their meeting last year.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It was an honor meeting Pope Francis last summer. I'm glad I made you laugh. Thank you for your encouraging words. Rest in peace. <a href="https://t.co/u5QqeUNLDM">pic.twitter.com/u5QqeUNLDM</a>
&mdash; Jimmy Fallon (@jimmyfallon) <a href="https://twitter.com/jimmyfallon/status/1914343995242619010?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Why It&#8217;s Important: Cardinals were scheduled to meet on Tuesday to organize Pope Francis&#8217; funeral, which is expected to draw leaders from around the globe, ahead of next month&#8217;s conclave to choose a new leader for the Roman Catholic Church, reported Reuters.
Read More:
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<li><a href="https://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-f" target="_blank" rel="noreferrer noopener">‘Most People Don&#8217;t Have The B&#x2A;&#x2A;ls To Do It,&#8217; Says Mark Cuban, Praising Musk For Going ‘All In&#8217; With His Own Money For His Startups</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: AM113 / Shutterstock.com

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Pope Francis, The People's Pope, Dies At 88: Tributes Pour In From Trump, King Charles, Tim Cook, Joe Biden, Jimmy Fallon, And More

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