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Aura Biosciences

Aura Biosciences Inc is a clinical-stage biotechnology company developing precision immunotherapies to treat a range of solid tumors designed to preserve the function of organs afflicted with cancer. Its candidate bel-sar is in late-stage clinical development for the treatment of patients with primary choroidal melanoma, and other ocular oncology indications as well as in early-stage clinical development in bladder cancer. The Company views its operations and manages its business in one operating segment operating exclusively in the United States.

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Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock experienced a 0.73% dip in this record-setting week, as a renewed &#8220;war of words&#8221; between President Donald Trump and Tesla CEO Elon Musk added to existing pressures.
What Happened: While the EV giant faces a &#8220;shaky&#8221; short-term outlook, John Murillo, the chief business officer at B2BROKER, told <a href="https://www.benzinga.com">Benzinga</a> that its long-term potential remains a &#8220;multi-trillion-dollar opportunity.&#8221;
According to Murillo, several factors are currently weighing on Tesla&#8217;s stock. &#8220;The short-term TSLA outlook is shaky due to <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">delivery</a> misses, political risks, and high valuation,&#8221; he said.
&#8220;Tesla's stock has been under pressure recently. There are many downgrades from the top market voices, such as JPMorgan, who predicts around a 63% crash from the current levels, which is a big bearish signal.&#8221;
He also noted downgrades from Baird and Argus, attributing them to &#8220;<a href="https://www.benzinga.com/markets/tech/25/06/46133153/tesla-robotaxi-has-a-major-advantage-over-rivals-waymo-and-zoox-says-gary-black-could-be-very-significant">robotaxi uncertainties</a> and Musk&#8217;s political involvement.&#8221;
A recent Morgan Stanley survey, cited by Murillo, revealed that 85% of investors believe his politics hurt Tesla.
Despite these immediate challenges, Murillo maintains a strong sense of optimism regarding Tesla&#8217;s long-term prospects, particularly in autonomous vehicles and energy storage. &#8220;I see some optimism about the long-term potential of robotaxis and energy storage. It is still possible to see a 45% upside if Tesla can scale the robotaxi business,&#8221; he stated.
Murillo adds, &#8220;If Tesla can execute on its robotaxi and Optimus projects, it could be a multi-trillion-dollar opportunity.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46257412/is-the-market-open-on-july-4th-everything-you-need-to-know">Is the Market Open On July 4th? Everything You Need To Know</a>
Why It Matters: To improve its short-term standing and capitalize on this long-term potential, Murillo suggests several strategic imperatives for Tesla.
&#8220;Tesla needs to stabilize its sales, especially in <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">Europe</a> and China. But most importantly, the company should address regulatory issues with the robotaxi service and reduce political risks by toning down Musk&#8217;s involvement.&#8221;
He also highlighted the importance of &#8220;diversifying the product line with more affordable models&#8221; and &#8220;improving supply chain localization to mitigate tariffs and geopolitical risks.&#8221;
Price Action: While Tesla dropped by 0.73% in the three and a half trading days of this week, it ended 0.10% lower at $315.35 per share on Thursday. The stock has experienced a 21.91% decline on a year-to-date basis, whereas it was up 25.38% over a year.
Benzinga Edge Stock Rankings shows that TSLA had a stronger price trend over the short, medium, and long term. Its momentum ranking was moderate, and its value ranking was poor at the 10.04th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="158" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04034251/Tesla-Edge-Juy-4-1024x158.png" alt="" class="wp-image-972983" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04034251/Tesla-Edge-Juy-4-1024x158.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04034251/Tesla-Edge-Juy-4-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04034251/Tesla-Edge-Juy-4-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04034251/Tesla-Edge-Juy-4.png 1287w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Price Action: On the truncated trading day of July 3rd, 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, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46188237/bill-gates-is-betting-two-thirds-of-his-foundations-portfolio-in-these-3-stocks">Bill Gates Is Betting Two-Thirds Of His Foundation&#8217;s Portfolio In These 3 Stocks</a></li>
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Photo courtesy: Ken Wolter / Shutterstock.com

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Elon Musk's Tesla Is A 'Multi-Trillion-Dollar Opportunity,' But Short-Term Outlook Is 'Shaky,' Says Expert

At just 28 years old, financial advisor Luke Lloyd learned some of life's toughest lessons—many of them forged in the blue-collar heart of Martins Ferry, Ohio. Growing up in a town where generations worked &#8220;their tails off&#8221; in coal mines and steel mills, Lloyd saw firsthand the grit and dedication it takes to build a life <a href="https://www.benzinga.com/money/the-importance-of-finding-a-financial-advisor-thats-right-for-you">from the ground up</a>.
But it was his father's battle with cancer—and the cold way his employer treated him after 25 loyal years—that ignited something deeper.
"I might be a little crazy," he admits, "but I didn't feel a sense of purpose building someone else's dream." Watching his father be "discarded like a line item" while fighting for his life, Lloyd realized early on that you have a choice: "You either work for the man, or you are the man." 
That lesson from his dad stuck and, this year, Lloyd launched his own firm — Lloyd Financial Group. In a conversation with Benzinga, he offers his perspective on today&#8217;s market trends, the emerging role of artificial intelligence in finance, the need for universal basic income, and what the second half of 2025 will bring.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805623/palantir-ceo-warns-us-china-ai-race-will-have-one-winner-urges-west-to-keep-up">Palantir CEO Warns US-China AI Race Will Have One Winner, Urges West To Keep Up</a>
<h3 class="wp-block-heading">Benzinga: With so much <a href="https://www.benzinga.com/money/mastering-market-swings-tools-to-trade-volatility-like-a-pro">market volatility</a>, how do you gauge what stock to target?</h3>
The easy answer is: Know your specialty. You need to know your craft and what you excel at. Is it trading stock futures? Is it trading options? Is it trading stocks? Is it trading the bond market? If you&#8217;re a trader, rather than a long-term investor, many people will spread themselves too thin. They focus on too many areas — even with the help of AI.
So, if you are a trader — day trader or swing trader — you want to make sure that you know exactly where your best kind of chance of success is. Once you&#8217;ve identified the best thing you&#8217;re good at, it&#8217;s essential to start incorporating the technical indicators, like <a href="https://www.benzinga.com/money/fibonacci-retracement">Fibonacci</a>. 
Suppose you&#8217;re not using technical indicators as a trader. In that case, you&#8217;re behind the curve and losing out on potential opportunities to know where to buy and sell. I do expect that volatility is not going to go away. There will be a lot of back-and-forth news, especially about tariffs and China. However, it&#8217;s essential to have a stop loss in place for any position and stick to it.
<h3 class="wp-block-heading">BZ: What&#8217;s the hardest skill to have as a trader?</h3>
The most challenging skill for a trader to possess is the mental fortitude to adhere to their strategy. Once you stray away from the strategy, you&#8217;re already at a disadvantage. So, having a sell target on the upside and a buy target on the downside is probably the most straightforward yet most important advice I can give to any trader out there, as someone who used to day trade in college. I&#8217;m more of a long-term investor today, but I&#8217;ve been around the game long enough.
<h3 class="wp-block-heading">BZ: <a href="https://www.benzinga.com/markets/forex/25/04/44730411/asia-and-europe-markets-rally-after-trumps-tariff-u-turn-gold-nears-record-high-global-markets-today-while-us-slept">From April 9-10</a>, President Trump walked back some of his tariff rhetoric, triggering a historic market rally. The S&amp;P soared 9.5% in one day. There were <a href="https://www.benzinga.com/news/25/04/44891038/clearly-word-got-out-scott-galloway-says-april-9-will-go-down-as-the-greatest-day-of-insider-trading-in-history">signs of manipulation</a>. Should retail traders or long-term investors be happy about that?</h3>
As a long-term investor, I have to not only analyze what I think will happen, but also position my clients accordingly. So it doesn&#8217;t matter if it makes me happy or sad. It doesn&#8217;t matter whether I like it or not. It&#8217;s the world I was born into, and I have to play along with it because I won&#8217;t change the system. The government&#8217;s too big. The Libertarian in me says that we&#8217;ll never go back to a proper free market, capitalistic system. So, yes, it does upset me, but it doesn&#8217;t matter because I don&#8217;t live in that system and never will. My clients rely on me to listen, not necessarily to share my opinion. As a trader, confirmation bias — or what you want to happen — is one of the biggest mistakes you can make: positioning your portfolio around what you want to happen, not what will happen.
<h3 class="wp-block-heading">BZ: Anthony Scaramucci recently <a href="https://www.youtube.com/watch?v=1dPT3vIZUCw">said</a> he uses Grok AI for his business. What are your thoughts on AI being used in finance?</h3>
I use it every single day, and it probably saves me, personally, 40 hours a week, between marketing, branding, and emails.
<h3 class="wp-block-heading">BZ: What about financial analysis, like stock picks and research?</h3>
Instead of going on Google and having to read 10 articles, I can type in a prompt to get the macro analysis news of the day, and it gives me the most important news. Of course, I fact-check it. But I used to have to wake up two to three hours before work, read the news of the day, and spend a couple of hours digesting stuff. Now it probably takes me 30 minutes to digest everything, because I can get it so quickly. So, yes, I use it every single day for stock analysis. However, the key is that, and this is where people often get themselves into trouble if they rely solely on AI.
<h3 class="wp-block-heading">BZ: Will AI take finance jobs?</h3>
I don&#8217;t think AI will ever be able to do all the jobs, or all of the analysis. I call it &#8220;inefficiently efficient.&#8221; We&#8217;re going to reach a point where AI and algorithms will account for close to 100% of the volume on the New York Stock Exchange. At that point, you&#8217;ll have essentially things priced to perfection. The only way the stock market works is if there are inefficiencies; if something is not priced appropriately, because supply and demand will eventually give it a fair price. So that&#8217;s discrepancy, and that inefficiency is what makes a market. 
If you have AI, or all the same kind of most efficient algorithms pricing stocks and digesting the same information — giving out PE ratios, price-to-sales ratios, and growth ratios — you have almost a too efficient market where there will be no traders left. So, yes, my answer is that it will take the trader&#8217;s job. If you&#8217;re a day trader, it&#8217;s going to be a lot harder to make money, because AI is going to be so efficient that it&#8217;s going to make the markets inefficiently efficient. And UBI will come into the equation.
<h3 class="wp-block-heading">BZ: How does UBI (universal basic income) factor in?</h3>
Once AI starts taking jobs on a bigger scale, especially in the white collar world, you&#8217;re going to see a lot of people get angry, because no one likes losing their job on a massive scale. You&#8217;ll see systematic unemployment rise, and the solution to that will be a universal basic income. There&#8217;s no doubt in my mind that this is likely to happen over the next couple of decades due to the rise of AI, which will replace jobs and systematically increase the unemployment rate. 
<h3 class="wp-block-heading">BZ: We can&#8217;t even get both parties to agree on basic stuff. They&#8217;re going to agree on UBI?</h3>
They have to. If you have fewer workers or fewer people working, because AI is so productive, it will also funnel money to the top. If you have a more productive corporation with fewer workers, margins increase, which in turn creates a higher stock price. Essentially, the only way it doesn&#8217;t create a higher stock price is if there are workers who can&#8217;t afford the product themselves because they are unemployed. So, that&#8217;s where the social safety net comes in to protect those people, because they do need an income, and that money will get funneled to the corporations.
<h3 class="wp-block-heading">BZ: What are your short-term predictions for the third and fourth quarters of 2025?</h3>
I think the third and fourth quarters are going to be very similar to what we saw in the first month or two of this year and right after the Trump election, in some ways, where you saw a lot of the equal-weight S&amp;P 500 do better than the cap weight. I think the days of big tech are little bit behind us. In some ways, they have too much beta on the market — too much money in them. I think you&#8217;ll see money rotation into more international areas that we discussed, as well as some of the smaller mid-cap names, particularly on the value side. And you&#8217;ll see the equal-weight probably do better then the cap-weighted indices. 
Now Read:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/25/02/43994419/i-dont-think-were-going-to-have-a-choice-elon-musk-predicts-universal-income-will-eventually-be-high-but-fears-people-will-feel">&#8216;I Don&#8217;t Think We&#8217;re Going to Have a Choice&#8217;: Elon Musk Predicts Universal Income Will Eventually Be &#8216;High&#8217;—But Fears People Will Feel &#8216;Useless&#8217;</a></li>
</ul>
Image: Courtesy of Lloyd Financial, Shutterstock

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Efficiently Inefficient: 28-Year-Old Finance Pro Presents Paradox For An AI-Traded Future

As Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) turned the most valuable publicly traded company on Thursday, inching closer to a $4 trillion market capitalization, this multinational technology company, nicknamed &#8216;Big Blue,&#8217; has outperformed the Magnificent 7 and the Jensen Huang-led tech giant in 2025.
What Happened: International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) has quietly outpaced the gains in Magnificent 7 stocks on a year-to-date basis, emerging as one of the most profitable artificial intelligence plays this year.
IBM&#8217;s generative AI book of business has <a href="https://www.benzinga.com/content/46151129/is-ibms-ai-transformation-powering-a-sustained-rally">surpassed $5 billion since its inception</a>, a clear indicator of customer demand. The stock has returned 32.75% YTD, higher than Nvidia&#8217;s 15.20% gains and also much higher than all the other Magnificent 7 stocks.
Even on a five-year basis, IBM has outperformed four out of seven Mag 7 components.
Moreover, the stock has also gained more than the exchange-traded fund tracking the Magnificent 7 stocks, Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>).
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
<td>Five-Year Performance</td>
</tr>
<tr>
<td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>15.20%</td>
<td>26.63%</td>
<td>1558.06%</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>-12.43%</td>
<td>-5.65%</td>
<td>134.59%</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>19.17%</td>
<td>6.69%</td>
<td>141.85%</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>1.45%</td>
<td>11.70%</td>
<td>54.60%</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td>
<td>-5.29%</td>
<td>-5.94%</td>
<td>146.52%</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>19.99%</td>
<td>33.17%</td>
<td>208.03%</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>-16.86%</td>
<td>25.38%</td>
<td>291.35%</td>
</tr>
<tr>
<td>Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>)</td>
<td>3.27%</td>
<td>14.47%</td>
<td>123.1% (Since 2023)</td>
</tr>
<tr>
<td>International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</td>
<td>32.75%</td>
<td>65.87%</td>
<td>155.37%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46258864/ray-dalio-warns-us-debt-per-family-will-rise-85-to-425000-over-next-10-years-as-house-passes-trumps-big-beautiful-bill">Ray Dalio Warns US Debt Per Family Will Rise 85% To $425,000 Over Next 10 Years As House Passes Trump&#8217;s &#8216;Big Beautiful Bill&#8217;</a>
Why It Matters: Apart from AI, IBM also emerged as one of the top investors alongside 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>), making significant investments in the <a href="https://www.benzinga.com/markets/equities/25/06/45901958/ibm-google-emerge-as-top-investors-in-quantum-computing-with-most-patents-issued-in-2025-only-two-companies-seriously-investing-says-martin-shkreli">quantum computing space</a> on a year-to-date basis.
According to the data shared by Martin Shkreli in mid-June, there was a steep drop in the number of quantum computing patents issued after IBM and Google, suggesting that other companies are either smaller players or not prioritizing quantum computing as heavily.
Meanwhile, highlighting the tariff impact during the <a href="https://www.benzinga.com/markets/equities/25/04/44972416/ibm-plays-down-trump-tariff-concerns-doge-could-affect-consulting-business-but-its-us-federal-business-is-less-than-5-says-ceo">first quarter earnings call</a>, IBM's CFO and Senior Vice President, James Kavanaugh, said that the company was exploring alternatives to mitigate any indirect effects because the direct tariff impact was "minimal." 
"Goods imported to the U.S. represent less than 5% of our overall spend, and under current U.S. tariff policy, the impact to IBM is minimal. While we have limited direct exposure outside the United States, we are tactically evaluating alternative sources and other strategies to mitigate tariffs," he said.
Talking about the impact of DOGE-related initiatives, its Chairman, President, and CEO, Arvind Krishna, highlighted that its consulting business was "susceptible to discretionary pullbacks and DOGE-related initiatives."
The company is set to report its <a href="https://newsroom.ibm.com/2024-07-10-IBM-to-Announce-Second-Quarter-2024-Financial-Results#:~:text=ARMONK%2C%20N.Y.%2C%20July%2010%2C,at%205%3A00%20p.m.%20ET">second-quarter earnings</a> on July 24. -.
Benzinga Edge Stock Rankings shows that IBM had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid, and its value ranking was poor at the 17.38th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="159" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-1024x159.png" alt="" class="wp-image-973084" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-1024x159.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New.png 1279w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Price Action: On the truncated trading day of July 3rd, 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, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro </a>data.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if" target="_blank" rel="noreferrer noopener">Dan Ives Urges Apple ‘To Make A Move,' Saying That Perplexity Acquisition Is ‘A No-Brainer': ‘It's A Matter Of When And Not If'</a></li>
</ul>
Photo courtesy: MacroEcon / Shutterstock.com

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AAPL

AMZN

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GOOGL

MAGS

MSFT

NVDA

Everyone Talked About Nvidia, Apple And Tesla, But This One Tech Stock Has Left Them All Behind In 2025

Elon Musk&#8216;s artificial intelligence startup xAI has hired Katie Miller, wife of President Donald Trump&#8216;s Deputy Chief of Staff Stephen Miller, as a communications manager just as the company secured a controversial permit for its Memphis data center operations.
What Happened: The Shelby County Health Department on Wednesday approved xAI&#8217;s application to <a href="https://www.benzinga.com/markets/tech/25/07/46257227/elon-musks-xai-secures-permit-to-burn-natural-gas-for-grok-supercomputer-in-memphis-amid-clean-air-act-lawsuit-pollution-complaints">operate 15 natural gas-burning turbines</a> at its Colossus supercomputer facility, despite months of community protests over air quality concerns. 
The permit includes emissions limits and testing requirements, with penalties reaching $10,000 per day for non-compliance.
Katie Miller, a seasoned political operative who previously worked at the Department of Government Efficiency, announced the permit approval in a rare email to reporters from her xAI corporate address, <a href="https://fortune.com/2025/07/03/katie-miller-trump-white-house-elon-musk-xai/">reported</a> Fortune. The communication marked an unusual departure for Musk&#8217;s companies, which disbanded media relations teams years ago and typically communicate only through social media.
&#8220;xAI welcomes today&#8217;s decision by the Shelby County Health Department,&#8221; Miller wrote. &#8220;Our onsite power generation will be equipped with state-of-the-art emissions control technology, making this facility the lowest emitting of its kind in the country.&#8221;
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46259176/trumps-decision-to-end-tax-free-loophole-for-low-value-goods-from-china-leads-to-a-sharp-decline-in-air-cargo-shipments">Trump&#8217;s Decision To End Tax-Free Loophole For Low-Value Goods From China Leads To A Sharp Decline In Air Cargo Shipments</a>
Why It Matters: Miller&#8217;s hiring comes amid growing tensions between Trump and Musk. She departed the White House in May to work full-time for Musk&#8217;s ventures, according <a href="https://edition.cnn.com/politics/live-news/trump-presidency-news-05-28-25#cmb8dqgz400003b6siifazr80">to</a> CNN, while her husband remains with the Trump administration. The relationship between the two billionaires has deteriorated, with Musk recently threatening to fund a rival political party.
The Memphis facility powers xAI&#8217;s Grok AI model and represents Musk&#8217;s direct challenge to OpenAI&#8216;s ChatGPT and Alphabet Inc.&#8216;s (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>) Google Gemini. The company recently raised $10 billion in debt and equity, with discussions underway for an additional $20 billion equity round that <a href="https://www.benzinga.com/markets/tech/25/07/46187301/elon-musks-xai-secures-10-billion-in-debt-and-equity-amid-soaring-burn-rate-as-ai-arms-race-intensifies">could value xAI at over $120 billion</a>.
The Memphis supercomputer utilizes primarily NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs, with additional chips from Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). Musk plans to <a href="https://www.benzinga.com/markets/tech/25/07/46257227/elon-musks-xai-secures-permit-to-burn-natural-gas-for-grok-supercomputer-in-memphis-amid-clean-air-act-lawsuit-pollution-complaints">deploy 1 million GPUs at the facility</a>, with acquisition costs estimated between $30 billion and $40 billion, according to analyst Gene Munster.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46258103/boeing-wins-2-8-billion-us-space-force-contract-to-build-nuclear-resilient-satellites-for-strategic-communications">Boeing Wins $2.8 Billion US Space Force Contract To Build Nuclear-Resilient Satellites For Strategic Communications</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: JRdes / Shutterstock.com

Elon Musk's xAI Hires Trump Aide Stephen Miller's Wife Katie Amid Controversial Memphis Data Center Permit Win

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="900" height="340" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5.png" alt="" class="wp-image-15337" style="width:900px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5-300x113.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5-768x290.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
Amber International Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBR#NASDAQ">AMBR</a>) <a href="https://www.prnewswire.com/news-releases/amber-international-accelerates-crypto-reserve-strategy-with-recently-announced-25-5-million-private-placement-backed-by-leading-global-investors-302497677.html">said</a> on Thursday that it will use new funds from its recently unveiled $25.5 million private placement to further enhance its $100 million "crypto ecosystem reserve," and also to expand its institutional crypto services in the growth markets of the U.S. and Southeast Asia.
Under the placement, Amber is selling 12.2 million Class A ordinary shares, equal to about 2.44 million ADSs, based on the company's ratio of 5 ordinary shares to each ADS. The subscription price is $10.45 per ADS, representing a 5% discount to the average price between June 25 and June 27 just before the original fundraising announcement.
Others participating in the placement include Mile Green, Harvest Capital, Pantera Capital, CMAG Funds, Choco Up and Kingkey Financial International (1468.HK). Mile Green, led by Thai conglomerate CP Group's Chatchaval Jiaravanon, is set to provide additional support for Amber's expansion in Southeast Asia.
Amber said it will use the new funds to support its strategic investments in cryptocurrencies with high potential such as bitcoin, ethereum and solana, as part of the development of its cryptocurrency reserve.
Amber International provides crypto financial services and solutions targeting institutional investors and high-net-worth individuals to optimize their digital asset portfolios. The Singapore-based company was listed on the Nasdaq in March this year.&nbsp;
By Teri Yu

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

Cryptocurrency

Offerings

Opinion

AMBR

Amber International Raises $25.5M To Enhance $100M Crypto Ecosystem Reserve

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1.png" alt="" class="wp-image-15343" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
Hong Kong listings by 44 companies raised $13.6 billion in the first six months of 2025, accounting for a quarter of the world's total IPO fundraising
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>Hong Kong led the world in IPOs in the first half of the year with $13.6 billion in new fundraising, as New York IPOs by Chinese companies raised just $841 million</li>
<li>Hong Kong has taken steps to lure Chinese companies to the city, as they avoid New York over U.S.-China frictions and face difficulties listing in Shanghai and Shenzhen</li>
</ul>
Hong Kong became the world's leading IPO market in the first half of 2025, accounting for a quarter of global fundraising from new listings, as money-hungry Chinese firms raced to list in the city after a quiet period over the previous three years. Second listings in Hong Kong by Shanghai- and Shenzhen-listed Chinese firms were a major factor behind Hong Kong's boom, as such companies sought to raise both cash and their global profiles.
At the same time, many Chinese firms that might have previously chosen to list in New York largely abandoned that route this year amid heightened geopolitical tensions between the U.S. and China. Only one Chinese company made a major new U.S. listing in the first half of 2025, as milk tea chain&nbsp;Chagee&nbsp;(CHA.US) raised more than $400 million in its April IPO. And even that was offset by announcement of a privatization bid for electric vehicle (EV) maker&nbsp;Zeekr&nbsp;(ZK.US), which raised a similar $441 million with a New York listing just a year ago.
If those trends continue, which looks likely, 2025 would mark the best year for Hong Kong IPOs since 2021, and would be the second-highest year for IPO fundraising year in the last decade.
Forty-four IPOs by companies in Hong Kong raised a combined HK$107.1 billion ($13.6 billion) in the first half of the year, equal to seven times the amount raised in the first half of 2024, PwC said in&nbsp;<a href="https://www.pwchk.com/en/press-room/press-releases/pr-020725.html#:~:text=In%20the%20first%20half%20of%202025%2C%20Hong%20Kong%20raised%20HKD,total%20in%20the%20past%20decade.">a report</a>&nbsp;this week. In a&nbsp;<a href="https://www.ey.com/en_cn/newsroom/2025/06/a-h-listings-support-hk-reclaiming-the-top-spot">similar report</a>&nbsp;issued in June, Ernst &amp; Young said that Hong Kong IPOs accounted for 24% of all fundraising from new listings worldwide in the first half of the year.
Both reports said the momentum in Hong Kong was likely to continue into the second half of the year, with PwC forecasting companies would raise more than $200 billion with new listings on the Hong Kong Stock Exchange for all 2025.
While Hong Kong boomed, E&amp;Y observed that fundraising by Chinese companies through U.S. IPOs tumbled by 62% to $841 million, even as the number of new listings rose by 44% to 36. That showed that mega-IPOs from China, typically worth $100 million or more, are increasingly rare in the U.S., and most deals still going to New York are pint-sized offerings worth $20 million or less.
Reflecting the growing preference for Hong Kong, which dates back over the last two years, China's securities regulator approved 30 new listings by Chinese companies seeking to list on the Hong Kong Stock Exchange in the first half of the year. That was more than double the 12 companies approved to list on the Nasdaq by the China Securities Regulatory Commission (CSRC), which must approve all such new overseas listings.
The CSRC's pipeline of pending overseas listing applications looks similar in terms of the preference for Hong Kong. Of the 183 applications currently under consideration by the regulator, 126 are from companies hoping to list in Hong Kong, while just 42 are seeking to list on the Nasdaq. And none of the pending Nasdaq applicants has hired a top-tier investment bank, indicating most or all will likely raise $20 million or less.
<h4 class="wp-block-heading">All about policy</h4>
Several factors are behind the Hong Kong boom, nearly all of them policy-related. The biggest factor driving Chinese companies from the U.S. is increasingly tense relations between Beijing and Washington, with some American politicians even suggesting that all Chinese companies should be delisted from U.S. stock exchanges.
China is playing a role as well due to its concerns that large amounts of personal and customer data held by Chinese companies could become accessible to the U.S. government if those companies list in New York. Such concerns led to the forced delisting of leading ride-sharing company&nbsp;DiDi Global&nbsp;from the New York Stock Exchange in 2021.
Similar concerns were also likely a factor in the uncertain fate of a pending blockbuster listing by online fast fashion sensation&nbsp;Shein. The company originally aimed to list in New York, but abandoned that plan after running into political headwinds from Washington. Shein later shifted its sights to a London IPO. But it abandoned that plan last month, reportedly over objections from the CSRC, which would like the company to list in Hong Kong.
China has also fueled the rush of companies to Hong Kong by limiting the number of new listings on its domestic A-share markets in Shanghai and Shenzhen, in a bid to support those markets. Reflecting the weaker sentiment among domestic investors, the Shanghai Composite Index is up just 6% this year, well behind a 23% rise for Hong Kong's benchmark Hang Seng Index.
Hong Kong has seized on U.S. and Chinese political frictions, as well as China's data security concerns and limits on new IPOs in Shanghai and Shenzhen, by taking steps to make its stock market more attractive to new Chinese listing candidates. The Hong Kong Stock Exchange launched a Technology Enterprises Channel in May, making it easier for early-stage specialist tech and biotech companies to list. And last October it published another new policy making it easier for Chinese companies with A-share listings in Shanghai or Shenzhen to make second IPOs in Hong Kong, which is more open to international investors.
The largest Hong Kong IPO in the first half of the year came from one such second listing, as EV battery giant&nbsp;Contemporary Amperex Technology Co. Ltd.&nbsp;(3750.HK; 300750.SZ), or CATL, raised about $4.6 billion through a Hong Kong IPO to complement its older listing in Shenzhen.
While Chagee stood out from its peers by listing in the U.S., the first half of 2025 was also notable for IPOs by several of the company's larger rivals in Hong Kong, led by the $440 million IPO by leading premium tea chain&nbsp;Mixue&nbsp;(2097.HK).
Gold listings were also popular in the first half of the year as prices for the precious metal soared to record highs. That helped&nbsp;Jilong Gold&nbsp;(6693.HK) to raise $419 million in its February IPO. The same gold fever could also spark another mega listing in the second half, following&nbsp;Zijin Mining's&nbsp;(2899.HK)&nbsp;<a href="https://thebambooworks.com/brief-zijin-mining-files-to-separately-list-international-gold-unit/">filing&nbsp;</a>of a preliminary prospectus this week as it gets set to spin off and separately list its&nbsp;Zijin Gold International&nbsp;unit.

Asia

IPOs

Global

Markets

Hong Kong IPOs Explode In H1-25 As China Inc. Abandons New York

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1.png" alt="" class="wp-image-15340" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The automotive sensor maker is seeking IPO funds to boost its capacity, as intelligent driving systems move from luxury cars to mainstream models
<h4 class="wp-block-heading">Key takeaways:</h4>
<ul class="wp-block-list">
<li>The company focuses on millimeter-wave radar, which is cheaper than laser-based LIDAR sensors but less precise</li>
<li>It relies heavily on custom from car giant BYD, which generated 94% of company revenues last year</li>
</ul>
Laser, cameras or radar? Smart driving technology is dividing into competing camps as it percolates down from luxury vehicles to budget cars.
Suppliers of high-end automotive LiDAR, which uses laser pulses as a positioning tool, are struggling to make a profit as driver assistance enters the mass car market. Meanwhile, a firm providing base-level driving technology to auto giant&nbsp;BYD&nbsp;(1211.HK; 002594.SZ) is taking a different route.
Shenzhen Cheng-Tech Co. Ltd., founded on the back of expertise built at Huawei,specializes in a type of short-wave radar as a cost-effective way to help drivers with tasks such as staying in lane or judging distances.
While LIDAR companies such as&nbsp;Hesai Technology&nbsp;(HSAI.US)and&nbsp;RoboSense Technology&nbsp;(2498.HK) target elevated levels of intelligent driving at L3 to L4 on the industry's five-point scale, Cheng-Tech is content to focus on the lower rungs of L0 to L2+ with its millimeter-wave radar, a simpler technology with a potentially broader market base.
Doubling down on its strategy, the company has&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107468/documents/sehk25062300152.pdf">filed&nbsp;</a>for Hong Kong IPO under relaxed listing rules for specialist tech companies, hoping to raise money to boost its research and production capacity, with Guotai Junan International as the sole sponsor.
Cheng-Tech's short-wavelength systems have the benefit of being cheap to run, resistant to disruption and able to operate around the clock. The downsides are reduced resolution and precision, thus limiting their use for advanced assistance scenarios without support from additional sensors. But millimeter-wave radar comes at a fraction of the cost of LiDAR and does not require sophisticated technical input, making it an attractive option for deployment in mass-market vehicles.
Founded in 2016, the company specializes in millimeter-wave radar at a frequency of 77GHz for products such as front and corner radars or centralized radar processing systems. By June this year Cheng-Tech had launched seven key radar products covering L0 to L2+ levels of driver assistance.
The company ranked as the biggest domestic Chinese supplier of frontal millimeter-wave vehicle radar last year with 945,000 shipped units, giving it 9.3% of the market, according to data from China Insights Consultancy (CIC). In the automative millimeter-wave radar business as a whole, it came third by shipment volume, with a market share of 4.5%.
<h4 class="wp-block-heading">Huawei legacy</h4>
Chairman Chen Chengwen and co-founder Zhou Ke both cut their teeth at&nbsp; Huawei. Chen served as a senior product manager while Zhou held key technical positions at the Chinese tech firm, where the pair developed expertise in engineering and embedded algorithms that was applied to signal processing and hardware integration in the new company.
Revenues have been rising fast but the radar company has yet to break even on a net basis. Cheng-Tech logged revenues of 57.65 million yuan ($8.05 million) in 2022, followed by 157 million yuan in 2023 and 348 million yuan last year. Losses over the three-year period reached 197 million yuan, although in 2024 the loss narrowed 77% to 21.77 billion yuan, for an operating profit of 15.07 million yuan. Gross profit margin rose from 28.7% in 2022 to 33.9% in 2024, reflecting improved cost control and pricing power.
However, the company is facing a financial squeeze, with only 15.87 million yuan in cash and cash equivalents by the end of last year. Any urgent need to expand production or upgrade technology could require more financing in future.
<h4 class="wp-block-heading">Big dependence on BYD</h4>
The company has benefited from close ties with BYD, China's biggest maker of electric vehicles, but the dependence also represents a risk. Since becoming a designated sensor supplier in 2022, Cheng-Tech has deployed its radar in more than 20 BYD models. In 2024, it earned 326 million yuan from BYD, accounting for 93.6% of its total operating revenue.
In February BYD announced an equality drive to make assisted driving more widely available, under a slogan "intelligent driving for all". Since then, it has been equipping models retailing for less than 100,000 yuan with advanced driver-assistance functions, incorporating Cheng-Tech's 4D millimeter-wave radar as a key component. However, any shift in BYD's procurement strategy or a pivot to other suppliers would be a hammer blow to the company.
Moreover, millimeter-wave radar has a lower technological barrier to entry than LIDAR, leaving Cheng-Tech exposed to competition. Another company active in the same radar segment is Wuhu Sensortech Intelligent Technology, a subsidiary of&nbsp;Hikvision&nbsp;(002415.SZ). The rival firm, with stonger finances and superior production capacity compared to Cheng-Tech, is also a BYD supplier, offering corner, front and surround radars within its product mix.
Established companies such as HASCO Automotive and Suzhou Everbright Photonics are also stepping up their investment in this area, threatening to erode Cheng-Tech's tech advantage and cloud its growth prospects in the medium to long term.
The company finished its Series C financing in May last year with a post-financing valuation of 1.32 billion yuan, far less than Hesai Technology's 14.5 billion yuan and RoboSense Technology's 7 billion yuan. However, RoboSense's share price has tumbled nearly 30% since its IPO, while U.S.-listed Hesai Technology has shed 17% of its market value. Catering to the middle and lower end of the market, Cheng-Tech has a potentially wider range of customers but is hampered by limited pricing power. The road from here may be bumpy, but if it can tap new clients and export markets, Cheng-Tech could stay in the driving seat in an accelerating mass market for automotive intelligence. Still, as far as investors are concerned, the firm does not really deserve high-tech status and should probably be viewed as one of many auto industry suppliers out there.

Travel

BYD Supplier Cheng-Tech Bets On Budget Option For Assisted Driving

Multinational bank BNP Paribas has said that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rivals Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) could benefit from U.S. President Donald Trump's <a href="https://www.benzinga.com/markets/tech/25/07/46257394/trumps-big-bautiful-bill-passes-ev-tax-breaks-to-end-on-september-30-what-it-means-for-electric-vehicles">Big Beautiful Bill</a>.
What Happened: "Similarly to RIVN, we do believe LCID stands to benefit from reduced EV competition as OEMs deemphasize US EV ambitions," a BNP analyst cited by Bloomberg said <a href="https://www.bloomberg.com/news/articles/2025-07-03/rivian-lucid-to-benefit-from-trump-tax-bill-bnp-paribas-says">on</a> Thursday.
The report said that while U.S. automakers like General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) have ramped up EV production, analysts from the bank predict that Trump's tax bill could slow down the activities of the legacy automakers.
This could benefit new-age companies like Rivian and Lucid with more market share available for the brands. BNP also expects Rivian to gain from the backlash surrounding Tesla CEO Elon Musk.
The analysts also shared that third-quarter deliveries could rise as consumers would want to avail benefits of the $7,500 tax credit before it ends on September 30.
Why It Matters: The news comes as Rivian shared its <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46224223/rivians-production-dips-for-next-gen-models-volkswagen-infusion-boosts-outlook">Q2 delivery figures</a>, which outlined the EV maker recording over 10,661 units in the quarter and producing over 5,979 units from April to June.
Lucid shares, meanwhile, surged as the company shared <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46248543/lucid-stock-is-climbing-higher-thursday-whats-going-on">its Q2 statistics</a>. The company's production increased from 2,212 units in the first quarter to 3,863 units in Q2. Deliveries saw a slight increase to 3,309 units.
Meanwhile, Tesla also reported a strong rebound for its Q2 deliveries as the company delivered over <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">384,211 vehicles in Q2</a>, largely driven by the Model 3 and the Model Y.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump&#8217;s Tax Bill Just Killed This Revenue Stream</a></li>
</ul>
Photo courtesy: Michael Berlfein via Shutterstock

LCID

RIVN

Trump's Tax Bill Could Be A Boost For Tesla-Rivals Rivian, Lucid Amid EV Slowdown, Says BNP Paribas

The decision by the U.S. to terminate a tax-free exemption for low-value goods from China has led to a drop in air cargo shipments from Asia to North America.
What Happened: The International Air Transport Association (IATA) reported a 10.7% decrease in air cargo demand from Asia to North America in May compared to the same period last year. According to a Reuters report, this decline is attributed to the U.S. decision to end the tax-free exemption for low-value packages from China in early May.
See Also: <a href="https://benzinga.com/news/topics/25/07/46253645/trump-lectures-japan-about-rice-but-u-s-tariffs-make-sugar-and-peanuts-140-more-expensive-for-america">Trump Lectures Japan About Rice But U.S. Tariffs Make Sugar And Peanuts 140% More Expensive For Americans, Says Peter Schiff</a>
Shipments valued under $800, commonly sent by air to U.S. customers of low-cost e-commerce platforms such as Shein and PDD&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu, were previously exempt from taxes. However, since May 2, these shipments from China and Hong Kong have been subjected to taxes, initially as high as 145%, before settling to as low as 30% after a mid-May trade deal between the U.S. and China.
Why It Matters: This development comes on the heels of a series of trade policy changes by the U.S. government. In May, President Donald Trump significantly reduced tariffs on Chinese imports as the United States entered a <a href="https://www.benzinga.com/government/regulations/25/05/45368852/trump-lowers-de-minimis-tariff-on-chinese-imports-from-120-to-54-pauses-200-postal-fee-amid-90-day-trade-shift">90-day period</a> of trade negotiations with China. 
However, the US&#8217;s decision to end the tax-free loophole for low-value goods from China comes at a time of heightened trade tensions between the two countries.
Trump recently announced a <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">trade deal with Vietnam</a>, imposing a 20% tariff on Vietnamese exports to the US and a 40% tariff on goods transshipped through Vietnam, particularly targeting Chinese products rerouted to avoid US tariffs. This move has been met with criticism, with economist <a href="https://www.benzinga.com/news/politics/25/07/46239985/peter-schiff-warns-americans-will-suffer-and-vietnamese-will-enjoy-after-trumps-trade-deal-with-hanoi">Peter Schiff warning</a> that American consumers are likely to bear the brunt of the agreement.
Amid ongoing <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46163141/trump-says-hell-skip-trade-deals-set-global-tariffs-with-a-letter-pay-a-25-tariff-or-20-or-40-or-50">trade negotiations</a> between the U.S. and China, the recent trade policy shifts by the U.S. are expected to have an impact on global trade dynamics and the performance of key industries.
Read Next:
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<li><a href="https://benzinga.com/news/politics/25/07/46244280/elon-musks-dad-supports-trumps-bill-advises-musk-trump-to-talk-it-out-united-states-needs-lot-of-re">Elon Musk&#8217;s Dad Supports Trump&#8217;s Bill, Advises Musk-Trump To &#8216;Talk It Out&#8217;: &#8216;United States Needs Lot Of Rebuilding&#8230;They Need To Spend Money&#8217;</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: miss.cabul / Shutterstock.com

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Trump's Decision To End Tax-Free Loophole For Low-Value Goods From China Leads To A Sharp Decline In Air Cargo Shipments

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>) has launched a limited-time summer promotion offering its Premium streaming plan — which includes Showtime, live sports and offline access — for just $0.99 per month for two months.
What Happened: In celebration of the July 4th weekend and ahead of the July 17 premiere of "Star Trek: Strange New Worlds" Season 3, Paramount Plus is offering new subscribers access to either the Premium (normally $12.99/month) or Essential (normally $7.99/month) plan for only $0.99 per month during the two-month trial.
The Premium tier offers the best value at the same promotional price. It bundles Showtime content, live CBS News, 2025 NFL season games, UEFA Champions League matches and an extensive film and TV library that includes "Dexter," "The Chi," "Billions," "Twin Peaks" and upcoming titles like "Gladiator 2" and "Sonic the Hedgehog 3."
See Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/44019592/paramount-global-eyes-profitability-analysts-assess-subscriber-surge-and-cost-savings">Paramount Global Eyes Profitability, Analysts Assess Subscriber Surge And Cost Savings</a>
Unlike the ad-supported Essential plan, Premium is ad-free for on-demand content and allows mobile downloads for offline viewing.
After the promotion, the subscription renews at the standard $12.99/month rate unless canceled.
Why It's Important: This aggressive pricing move comes amid intensified competition in the streaming space as platforms battle for viewership and subscriber growth.
Earlier this week, Paramount Global also agreed to <a href="https://www.benzinga.com/news/legal/25/07/46212970/trump-wins-16-million-settlement-from-paramount-over-cbs-60-minutes-kamala-harris-interview-but-no-apology-issued">pay $16 million to settle</a> a lawsuit brought by Donald Trump over a "60 Minutes" interview with former Vice President Kamala Harris, but admitted no wrongdoing or issued any apology.
Trump's lawsuit claimed CBS deceptively edited the Harris interview to show contradictory answers about the Israel-Hamas war, allegedly favoring Democrats.
Price Action: Paramount's Class A shares fell 1.08% to $22.84, while its Class B shares edged up 0.47% to $12.90, based on <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
According to Benzinga's Edge Stock Rankings, Paramount maintains a consistent upward trajectory across the short, medium and long term. However, despite this positive momentum, its quality ranking is still comparatively low. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights are available here</a>.
<figure class="wp-block-image aligncenter 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/2025/07/04043332/Screenshot-2025-07-04-at-2.00.09%E2%80%AFPM.png" alt="" class="wp-image-973015" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: viewimage / Shutterstock.com

Entertainment

News

PARA

PARAA

Paramount Plus Slashes Prices To $0.99 Per Month For Premium Plan: Get Showtime, NFL Games, Offline Access For Less Than $2

Veteran investors Gary Black, managing director of Future Fund LLC and Gerber Kawasaki's Co-Founder Ross Gerber have weighed on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/topics/25/07/46252465/cybertruck-dreams-shatter-as-musks-250k-goal-unravels">Cybertruck's poor sales</a>.
What Happened: Both investors took to social media platform X on Thursday to express their views on the matter. Gerber, who owns a Cybertruck himself, shared his disappointment with the sales figures.
"Would probably help values if they discontinue the Tesla Cybertruck. Then my truck becomes a collectors item," he said in his post. Gerber added that it was "a very sad result" for the Cybertruck.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Would probably help values if they discontinue the Tesla Cybertruck. Then my truck becomes a collectors item… but this is a very sad result for the cybertruck. <a href="https://t.co/xe3aDam6fI">https://t.co/xe3aDam6fI</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1940675011230289976?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Black, on the other hand, offered his insights into the poor sales, reiterating that the Cybertruck's design held it back. "It's probably time for Tesla to consider launching a smaller more traditional-looking pickup truck priced in the $50K range," the investor said.
He added that the global TAM (total addressable market) for pickup trucks is an 8-million unit sector since it represents "10% of the overall global passenger vehicles market."
"If Tesla captured even a 1% share that would be 80K trucks per year (~$800M profit/year)," he said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Assuming <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Cybertruck deliveries were 5,000 in the quarter (vs M-Y 250K, M-3 120K, per <a href="https://twitter.com/TroyTeslike?ref_src=twsrc%5Etfw">@troyteslike</a>), it's probably time for <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> to consider launching a smaller more traditional-looking pickup truck priced in the $50K range. Pickups still represent 10% of the overall global… <a href="https://t.co/ytpi05IyRJ">https://t.co/ytpi05IyRJ</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1940850532815347799?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Tesla's Q2 deliveries, while <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">exceeding market expectations</a>, were still largely driven by the sales of the Tesla Model 3 and the Tesla Model Y, representing over 373k units of the 384k deliveries during Q2 2025.
While sales have been <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">on the decline</a>, CEO Elon Musk has <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">assumed oversight</a> of the company's sales in Europe and the U.S. following <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 the company.
However, despite the overall decline, Tesla has managed a rebound in June in markets like the UK, where sales <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">experienced a 12% YoY increase</a>. Tesla's China sales also <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">climbed 3.7% </a>during June.
<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="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1024x201.jpg" alt="" class="wp-image-973011" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers satisfactory Momentum while scoring well on the Growth and Quality metrics, but the stock 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>
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Photo courtesy: Tada Images / Shutterstock.com

Ross Gerber, Gary Black Weigh In On Tesla Cybertruck's Poor Sales: 'A Very Sad Result'

President Donald Trump&#8216;s $3.3 trillion domestic agenda bill, passed by House Republicans on Thursday, includes a significant but little-noticed victory for pharmaceutical companies that will cost taxpayers nearly $5 billion over the next decade.
What Happened: The legislation expands exemptions from Medicare&#8217;s drug price negotiation program, allowing manufacturers to keep prices higher for medications treating multiple rare diseases, The New York Times <a href="https://www.nytimes.com/2025/07/03/health/trump-bill-medicare-drug-prices.html">reported</a>. The Congressional Budget Office estimates this change will reduce government savings by $5 billion through 2034.
&#8220;This is essentially giving $5 billion back to the pharmaceutical industry,&#8221; said Benjamin Rome, a health policy researcher at Brigham and Women&#8217;s Hospital in Boston, according to the report. &#8220;It&#8217;s done in a way that is designed, on its face, to solve the problem of some misaligned incentives, but I don&#8217;t think it solves those problems.&#8221;
Under current law, costly drugs are exempt from Medicare price negotiations if they treat a single rare disease affecting fewer than 200,000 Americans. Drugmakers complained this policy discouraged them from seeking approval for additional rare disease treatments.
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46257635/trump-administrations-ice-raids-compared-with-wwii-japanese-internment-camps-by-george-takei-politicians-lie-and-people-believe-that-lie">Trump Administration&#8217;s ICE Raids Compared With WWII Japanese Internment Camps By George Takei: &#8216;Politicians Lie, And People Believe That Lie&#8217;</a>
Why It Matters: This marks the most significant change to the Medicare negotiation program since Democrats created it in 2022, according to the report. 
The exemptions will apply to the third negotiation round affecting prices starting in 2028. Several drugs currently facing price cuts would have been spared under the new rules, including Imbruvica and Pomalyst for rare cancers.
The bill passed largely along party lines as part of Trump&#8217;s <a href="https://www.benzinga.com/news/politics/25/07/46255065/trumps-3-3-trillion-bill-passes-will-vulnerable-americans-pay-the-price">broader legislative package that includes tax cuts</a>, defense spending increases, and significant reductions to federal safety net programs. Democrats criticized the measure as favoring wealthy interests while burdening vulnerable Americans.
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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

Trump's 'Big, Beautiful Bill' Hands $5 Billion Win To Big Pharma: Report

Billionaire investor and founder of Bridgewater Associates, Ray Dalio, has sounded the alarm on the U.S. fiscal trajectory following the <a href="https://www.benzinga.com/news/politics/25/07/46255065/trumps-3-3-trillion-bill-passes-will-vulnerable-americans-pay-the-price">passage</a> of the &#8216;One Big, Beautiful Bill Act.&#8217;
What Happened: In a post on X, Dalio projected that the new budget, with annual spending of $7 trillion against $5 trillion in revenue, will balloon the national debt to a staggering $425,000 per American family over the next decade.
Currently at $230,000 per family, this represents a debt-to-GDP ratio climbing from 100% to 130%, with interest payments expected to surge from $1 trillion to $2 trillion annually.
According to Dalio, this &#8220;will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels.&#8221;
In the three possibilities mentioned by Dalio, one hinted at the economic theory of Ricardian equivalence at play, suggesting that rational individuals would anticipate that a debt-financed tax cut would lead to future tax increases to pay off the debt.
He explains that this printing and devaluing is not good for those holding bonds as a store of wealth.
Adding, &#8220;What's bad for bonds and U.S. credit markets is bad for everyone because the U.S. Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions.&#8221;
Dalio warns that without corrective action—reducing the deficit from 7% to 3% of GDP through spending cuts, tax hikes, or interest rate adjustments—severe economic disruptions loom.
&#8220;Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur,&#8221; Dalio warns.
<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">Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt,…
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1940842227409748385?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if">Dan Ives Urges Apple &#8216;To Make A Move,&#8217; Saying That Perplexity Acquisition Is &#8216;A No-Brainer&#8217;: &#8216;It&#8217;s A Matter Of When And Not If&#8217;</a>
Why It Matters: Adding to Dalio&#8217;s post, economist Peter Schiff said that &#8220;The bill will add much more than that to the national debt. The economy will grow more slowly, tax collections will be lower, and spending and interest rates will be higher than what is built into the rosy assumptions.&#8221;
Meanwhile, Peter Brandt, the CEO of Factor LLC, quoted Dalio&#8217;s post and said, &#8220;America is heading down the tubes. Perhaps what will be reconstructed after the national bankruptcy will be kinder to Z and M generations.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America is heading down the tubes. Perhaps what will be reconstucted after the national bankruptcy will be kinder to Z and M generations. <a href="https://t.co/sdIOIxxkPQ">https://t.co/sdIOIxxkPQ</a>
&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1940928691640660061?ref_src=twsrc%5Etfw">July 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: On the truncated trading day of July 3rd, 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, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Rawpixel.com / Shutterstock.com

Economics

Ray Dalio Warns US Debt Per Family Will Rise 85% To $425,000 Over Next 10 Years As House Passes Trump's 'Big Beautiful Bill'

<h3>Companies Reporting Before The Bell</h3>
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For July 4, 2025

President Donald Trump is set to sign the <a href="https://www.benzinga.com/markets/tech/25/07/46257394/trumps-big-bautiful-bill-passes-ev-tax-breaks-to-end-on-september-30-what-it-means-for-electric-vehicles">Big, Beautiful Bill</a> into law on July 4. The bill effectively eliminates a crucial revenue stream for Elon Musk&#8216;s EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), ZEV (Zero Emission Vehicle) credits.
Trump's tax bill passed the U.S. House of Representatives on Thursday, eliminating the <a href="https://www.benzinga.com/markets/tech/25/06/45965638/amid-trumps-anti-ev-push-senate-republicans-propose-tax-bill-to-axe-7500-ev-credit">$7,500 Federal EV credit</a> on new purchases as well as a $4,000 credit on used EVs. The bill also axes hefty fines on the CAFE or Corporate Average Fuel Economy Norms.
CAFE and ZEV credits
CAFE norms dictate fuel economy for vehicles, regulating how far our vehicles must travel on a gallon of fuel. This is where Tesla comes in as the company exclusively sells all-electric vehicles. This helps the company generate vast amounts of regulatory credits known as ZEV credits or Zero Emission Vehicle credits that automakers earn for not generating emissions, by manufacturing either EVs or Hydrogen fuel cells.
Tesla can sell the credits to other auto manufacturers that have exceeded CAFE norms, which helps them offset the fuel economy standards and avoid paying hefty fines to the U.S. government. The EV giant generated upwards of $2.76 billion in revenue through the credits in 2024, according to <a href="https://carboncredits.com/teslas-carbon-credit-revenue-soars-to-2-76-billion-amid-profit-drop/">a</a> Carbon Credits report.
Revoking EPA Waivers
However, there is another aspect to it in the form of waivers for the Environmental Protection Agency, which helped enforce emissions norms. Influencer Sawyer Merritt shared a post on social media platform X, detailing the impact of the bill on EVs on Thursday.
"Congress recently used the Congressional Review Act to revoke EPA waivers that allowed California (and the 17+ states that follow its lead) to enforce stricter emissions rules, including ZEV mandates," he shared in the post.
The waivers served as crucial elements of the state-level ZEV credit rules, he suggests. Without these in place, "states can no longer require automakers to meet ZEV sales targets or buy ZEV credits," which effectively renders the sales of ZEV credits to be non-essential for companies in the U.S., Merritt says.
However, Tesla can still use ZEV credits as a revenue stream outside of the U.S.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just spent hours reviewing the final version of Trump's "Big Beautiful Bill," which he will sign into law in the coming days. There&#39;s a lot of important stuff related to EVs, renewable energy, and more. Here&#39;s everything you need to know: • $7,500 EV credit for new vehicles:… <a href="https://t.co/CG49KzsQJQ">pic.twitter.com/CG49KzsQJQ</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1940924349994668365?ref_src=twsrc%5Etfw">July 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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A Silver lining?
Tesla sales have been down in recent times, with the company experiencing <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">double-digit declines</a> in markets like Sweden and Denmark, adding to the company's sales woes.
However, with Q2 deliveries <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">exceeding market expectations</a> and <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">sales in China</a> and <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">the UK rising</a>, there could be a silver lining for the company, even more so now, with <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">Musk assuming oversight</a> of sales in the U.S. and Europe.
Tesla has also confirmed that it will <a href="https://www.benzinga.com/markets/tech/25/07/46212911/amid-declining-sales-elon-musks-tesla-confirms-new-affordable-models-will-be-introduced-this-year">introduce affordable models</a> in its lineup, though it remains unclear whether the models will be brand new or if they will be stripped-down versions of existing Tesla vehicles. These factors could help the company stabilize revenue streams in the absence of ZEV credits.
<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="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1024x201.jpg" alt="" class="wp-image-972934" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers satisfactory Momentum, while scoring well on the Growth and Quality metrics, but the stock 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>
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Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump's Tax Bill Just Killed This Revenue Stream

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is rolling out a new feature with iOS 26 that aims to curb spam by automatically filtering and silencing unwanted texts in its Messages app.
What Happened: As part of the iOS 26 update, Apple is getting an enhanced spam screening tool within its Messages app, <a href="https://9to5mac.com/2025/07/03/ios-26s-messages-app-has-a-solution-coming-for-unwanted-texts/">reported</a> 9to5Mac.
Once enabled, the feature filters suspected spam and messages from unknown senders into dedicated folders, keeping them out of the user's main inbox and disabling notifications for those texts.
When users first install iOS 26, Messages will prompt them to activate the screening feature. If enabled, all suspected spam will be automatically rerouted into a separate &#8220;Spam&#8221; section, while unknown senders—those not in the user's contacts—will be moved to an &#8220;Unknown Senders&#8221; tab.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46210955/apple-sues-ex-engineer-over-alleged-theft-of-vision-pro-secrets-as-snap-prepares-ar-glasses-launch">Apple Sues Ex-Engineer Over Alleged Theft Of Vision Pro Secrets As Snap Prepares AR Glasses Launch</a>
Both sections can be accessed through a new filtering option at the top-right of the Messages app, the report said.
The upgrade also includes visual cues on the filters button, alerting users when a new message has been screened, allowing them to review it manually if needed.
Other updates to Messages in iOS 26 include conversation backgrounds, group typing indicators, polls and live translation.
Why It's Important: Apple's <a href="https://www.benzinga.com/markets/tech/25/06/45852236/steve-jobs-would-have-fired-everyone-apples-liquid-glass-in-ios-26-gets-roasted-online-dan-ives-calls-wwdc-2025-a-yawner">bold new design</a> for iOS 26 — called "Liquid Glass" — is also facing a wave of online criticism. Liquid Glass introduces a translucent, reactive interface designed to make the iPhone feel more fluid and immersive.
The design now spans buttons, sliders, the lock screen, Control Center and more.
Apple released iOS 26 Beta 2, <a href="https://www.benzinga.com/markets/tech/25/06/46066274/apple-liquid-glass-gets-tweaks-in-ios-26-beta-2-after-early-testers-slam-readability-issues-heres-what-else-has-changed">tweaking its new</a> Liquid Glass interface after early testers criticized poor readability. The update improves background blur in Control Center to make buttons and sliders clearer and notifications now appear sharper, though some issues remain on light backgrounds.
Benzinga's Edge Stock Rankings show that Apple's stock maintains an upward trend in the short term, but the outlook turns negative over the medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights can be found here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04033044/Screenshot-2025-07-04-at-12.58.48%E2%80%AFPM.png" alt="" class="wp-image-972971" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: jamesteohart / Shutterstock.com

Apple's iOS 26 Will Silence Spam Texts Automatically With New Messages Update That Filters Unknown Senders Into Hidden Folders

Cognition Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGTX#NASDAQ">CGTX</a>) rose 12.10% to $0.45 during after hours on Thursday, following a surge of 20.82% gain during regular hours.&nbsp;
What Happened: The hike in Cognition Therapeutics&#8217; stock price is attributed to the promising results from its Alzheimer&#8217;s drug, Zervimesine. The drug achieved a 95% efficacy rate in its Phase 2 trial. The trial also reached a 50% enrollment milestone, further boosting investor confidence in the drug&#8217;s potential. 
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46257197/bitcoin-ethereum-dogecoin-surge-amid-trumps-one-big-beautiful-bill-victory-analyst-says-btc-on-cusp-of-making-history-as-it-eyes-key-weekly-re">Bitcoin, Ethereum, Dogecoin Surge Amid Trump&#8217;s &#8216;One Big, Beautiful Bill&#8217; Victory — Analyst Says BTC On &#8216;Cusp Of Making History&#8217; As It Eyes Key Weekly Resistance &#8211; Grayscale Bitcoin Mini Trust (BTC)</a>
Why It Matters: The Alzheimer&#8217;s drug market has been a hotbed of activity recently. InMed Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>), for instance, experienced a sudden surge in its stock price after releasing <a href="https://www.benzinga.com/news/health-care/25/06/46073349/why-inmeds-alzheimers-drug-candidate-is-fueling-sudden-stock-surge">new preclinical data</a> demonstrating the potential of its therapeutic candidate for Alzheimer&#8217;s disease.
Price in Action: According to <a href="https://www.benzinga.com/quote/CGTX">Benzinga Pro</a> data, Cognition Therapeutics' stock rose 20.82% to $0.41 during regular trading, followed by an additional 12.10% gain to $0.45 in after-hours trading.
Benzinga's Edge Stock Rankings indicates Cognition Therapeutics has momentum in the 3rd percentile. For the complete picture on the stock, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click 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 loading="lazy" decoding="async" width="867" height="174" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755.png" alt="" class="wp-image-972951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755.png 867w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755-300x60.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755-768x154.png 768w" sizes="(max-width: 867px) 100vw, 867px" /></a></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Martin Gregor on Shutterstock.com

Biotech

Health Care

Market-Moving Exclusives

CGTX

Cognition Therapeutics Shares Jump 12% After Hours Following Encouraging Phase 2 Alzheimer's Trial Data

The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has secured a $2.8 billion contract from the U.S. Space Force to develop and produce strategic satellite communications systems.
What Happened: The contract covers Boeing&#8217;s Evolved Strategic Satellite Communications (ESS) program, which will deliver two satellites with options for two additional units. 
The ESS program serves as the space-based component of the U.S. nuclear command, control, and communications (NC3) architecture, providing critical connectivity for presidential communications and joint strategic forces worldwide.
&#8220;It&#8217;s a critical time to advance U.S. space capabilities to ensure peace through strength,&#8221; said Cordell DeLaPena, U.S. Space Force Program Executive Officer for the Military Communications and Positioning, Navigation, and Timing Directorate. &#8220;The strategic communication mission requires protection, power and always-available capability, even through adversary attempts to interrupt our connectivity.&#8221;
The ESS satellites will operate in geostationary orbit approximately 22,000 miles above Earth, offering enhanced capacity, flexibility, reliability and resilience compared to current strategic communications satellites. Boeing has been executing technical maturation and risk reduction work under a rapid prototyping contract since 2020.
&#8220;We designed an innovative system to provide guaranteed communication to address an evolving threat environment in space,&#8221; said Kay Sears, Vice President and General Manager of Boeing Space, Intelligence and Weapon Systems.
See Also: <a href="https://www.benzinga.com/news/25/07/46256825/nvidia-crowdstrike-wolfspeed-cadence-design-systems-and-microsoft-why-these-5-stocks-are-on-investors-radars-today">Nvidia, Crowdstrike, Wolfspeed, Cadence Design Systems And Microsoft: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: The spacecraft will utilize highly protected waveforms and classified technologies developed in partnership with the U.S. Department of Defense. Boeing is scheduled to deliver the first of two space vehicles by 2031.
This contract win comes as Boeing&#8217;s stock has gained over 16.82% in the past year, with shares trading at $215.92 as of Thursday.
The company recently completed delivery of its ninth and tenth O3b mPOWER satellites, continuing its partnership with network operator SES to <a href="https://www.benzinga.com/markets/large-cap/25/07/46224681/whats-going-on-with-boeing-stock-today">enhance space-based internet access</a>.
However, Boeing faces ongoing safety scrutiny following a Japan Airlines flight emergency landing Monday after a Boeing 737-800 experienced a pressurization system failure, forcing a <a href="https://www.benzinga.com/markets/equities/25/07/46214283/boeing-737s-violent-26000-foot-plunge-left-passengers-legs-shaking-as-japan-airlines-flight-makes-emergency-landing-191-survive-midair-pressure">rapid descent from 32,800 feet</a>. All 191 passengers and crew survived without injuries.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: JHVEPhoto / Shutterstock.com

Boeing Wins $2.8 Billion US Space Force Contract To Build Nuclear-Resilient Satellites For Strategic Communications

Experts have been debating the artificial intelligence-driven impact on employment with contradicting views. While market veteran like Jim Cramer thinks that &#8220;AI is still not trusted,&#8221; others see trouble brewing in the labor market due to the automation of several human-led jobs.
What Happened: Citing the labor differential and unemployment rate data, Ark Invest&#8217;s Cathie Wood said in her &#8220;<a href="https://www.ark-invest.com/videos/market-commentary/july-2025-in-the-know-cathie-wood">In The Know</a>&#8221; series, &#8220;Labor differential says that it&#8217;s getting harder to find jobs,&#8221; while adding that &#8220;rising unemployment claims suggest that people who are out of work are finding it difficult to get a job.&#8221;
While she blames immigration for this, Wood also states that &#8220;we do know that AI is hurting entry-level jobs.&#8221;
Highlighting a personal example from the ARK 2025 Vibe Coding Hackathon, she said that her firm used AI to address 13 pain points within the organization.
&#8220;Because of (AI&#8217;s) natural language programming, SaaS is going to run into some trouble here, now that we can do a lot ourselves and customize to our own organization&#8217;s needs,&#8221; she explains.
On the other hand, CNBC&#8217;s Mad Money host Cramer took to X and underscored that traditional white collar firms haven&#8217;t seen AI-related job cuts.
&#8220;They are still hiring, still paying a lot. AI is still not trusted at the highest rungs of major companies,&#8221; he said.
<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">CEOs have been saying that AI will wipe out jobs at their companies. But it hasn&#39;t happened at most traditional white collar firms. They are still hiring, still paying a lot. AI is still not trusted at the highest rungs of major companies
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1940680480380408248?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, taking a strong stand on this, economist Craig Shapiro warned that <a href="https://www.benzinga.com/markets/economic-data/25/06/46093421/ai-will-disrupt-25-of-us-jobs-by-2030-and-the-fed-cant-save-them-economist-warns">AI could wipe 25% of jobs in the U.S.</a> by 2030, and the Federal Reserve&#8217;s traditional tool of interest rate cuts is ill-equipped to address the looming labor crisis.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46188237/bill-gates-is-betting-two-thirds-of-his-foundations-portfolio-in-these-3-stocks">Bill Gates Is Betting Two-Thirds Of His Foundation&#8217;s Portfolio In These 3 Stocks</a>
Why It Matters: Shapiro cites a Goldman Sachs study and explains that tech giants like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are investing billions in AI, which will potentially automate 25% of the U.S. labor market by 2030.
Furthermore, he says, "AI-driven labor displacement, accelerating in 2025, poses a structural crisis that Federal Reserve rate cuts cannot fix.&#8221;
Shapiro also outlines Federal Reserve Vice Chair Michael Barr&#8216;s 2025 warning: AI could increase the natural unemployment rate due to skill mismatches. A <a href="https://hbr.org/2015/08/research-technology-is-only-making-social-skills-more-important">Harvard study</a> supported this, estimating 47% of U.S. jobs are at risk. 
Price Action: Here are a few AI-linked exchange-traded funds that investors can consider amid the booming artificial intelligence demand.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>10.00%</td>
<td>12.38%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>8.40%</td>
<td>13.19%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>10.40%</td>
<td>27.93%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>10.94%</td>
<td>16.23%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>10.44%</td>
<td>8.71%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>13.52%</td>
<td>45.81%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: On the truncated trading day of July 3rd, 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, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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First Trust Dow Jones Internet Index Fund

FTEC

iShares Trust S&P Global Information Technology Sector Index Fund

iShares Dow Jones US Technology Sector Index Fund

QTUM

Jim Cramer Contradicts AI-Led Job Cuts At White Collar Firms As Cathie Wood Says It's 'Hurting Entry-Level Jobs:' Here's How Experts Debunk AI's Impact On Employment

La Rosa Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRHC#NASDAQ">LRHC</a>) stocks experienced a significant drop of 23.47% during after-hours trading on Thursday The drop follows the  surge of 87.37%, which was the result  of the company&#8217;s announcement of its first-half revenue for 2025
What Happened: &nbsp;The real estate company&#8217;s stock closed at $0.15 on July 3. However, it fell to $0.11 during after-hours trading. This represents a 23.47% decrease in value.
See Also: <a href="https://benzinga.com/markets/equities/25/07/46187311/trump-says-elon-musk-would-close-up-shop-and-head-back-home-to-south-africa-without-subsidies-no">Trump Says Elon Musk Would &#8216;Close Up Shop And Head Back Home To South Africa&#8217; Without Subsidies: &#8216;No More Rocket Launches, Satellites, Or Electric Car&#8217;</a>
La Rosa Holdings, a real estate company, <a href="https://www.benzinga.com/markets/earnings/25/07/46242298/exclusive-la-rosa-clocks-38-4-million-in-first-half-revenue-tops-3000-agents">reported a revenue of $38.4 million</a> for the first half of 2025, representing a 19.4% year-over-year growth. This announcement led to an 87% surge in the company&#8217;s stock, which closed at $0.15 on Thursday.
Why It Matters: La Rosa Holdings&#8217; strategic decisions, such as the approval of a <a href="https://www.benzinga.com/news/buybacks/25/04/44977376/exclusive-la-rosa-board-approves-500-thousand-stock-buyback-plan">$500 thousand stock buyback</a> plan in April, have also contributed to its positive market performance.&nbsp;
In July, the company&#8217;s shares soared after it reported a preliminary unaudited revenue of $38.4 million for the <a href="https://www.benzinga.com/wiim/25/07/46242719/la-rosa-holdings-shares-are-trading-higher-after-the-company-reported-preliminary-unaudited-revenue">first half of 2025</a>. This was a milestone for the company, which had also seen a 19.4% year-over-year growth.
Price in Action: According to <a href="https://www.benzinga.com/quote/LRHC">Benzinga Pro</a> data, closing at $0.15, La Rosa's stock surged 87.27% following strong revenue news. The dip of $0.11 in after-hours trading, reflects continued volatility.
Benzinga&#8217;s Edge Stock Rankings indicate strong value potential (40.29) of La Rosa's stock. Here is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how the stock fares</a> on other parameters.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="758" height="98" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42.png" alt="" class="wp-image-972881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42.png 758w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42-300x39.png 300w" sizes="(max-width: 758px) 100vw, 758px" /></a></figure>
Photo Courtesy: Who is Danny on Shutterstock.com
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LRHC

La Rosa Holdings (LRHC) Stock Dips 23% In After Hours, Shares Shed Intraday Gains Fueled By H1 2025 Revenue Numbers

Press Releases

Aura Biosciences to Participate in the 7th Annual Evercore ISI HealthCONx Conference

Aura Biosciences to Participate in Upcoming Investor Conferences

Aura Biosciences Announces Additional Data from Ongoing Phase 1 Trial in Non-Muscle Invasive Bladder Cancer to be Presented as a Late-Breaking Abstract at the 40th Annual European Association of Urology Congress

Positive Data from Phase 1 Trial of Bel-sar in Patients with Non-Muscle-Invasive Bladder Cancer (NMIBC) Presented at the 40th Annual European Association of Urology Congress

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