<a href="https://www.benzinga.com/topic/s-p-500-index">The S&amp;P 500 index</a> remains in bullish territory, but it&#8217;s losing its shine compared to global markets. 



JPMorgan analyst Jason Hunter notes that while the index maintains higher lows and pushes resistance levels, it's struggling to break past the 6,100 peak.



<h2 class="wp-block-heading">Big Caps Hold Ground, But Momentum Wobbles </h2>



With momentum cooling off, the path to the next milestone of 6,350 looks slow and choppy. ETFs like SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) continue to reflect this cautious optimism but aren't exactly screaming bullish right now.



Hunter points out that the S&amp;P 500's current bullish trend remains intact as long as it holds above key support between 5,772 and 5,871. However, a break below 5,651 could jeopardize the broader uptrend. For now, investors might want to tread carefully while keeping an eye on key levels.



Read Also: <a href="https://www.benzinga.com/content/43845962/buffett-just-dumped-his-s-amp-p-500-holdings-what-it-means-for-you">Buffett Just Dumped His S&amp;P 500 Holdings—What It Means for You</a>



<h2 class="wp-block-heading">Small Caps Eyeing A Breakout</h2>



Meanwhile, the Russell 2000 index is quietly building steam. Hovering above key support at 2,150, the index is consolidating for a potential breakout past the 2,310-2,350 resistance zone. Hunter sees an eventual rally toward the 2,432-2,466 range if global cyclicals keep trending up. 



For ETF investors, iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) and the Vanguard Russell 2000 Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTWO#NYSE">VTWO</a>) might be worth a closer look as small caps gear up for what could be a catch-up trade.



Interestingly, history suggests that when cyclical markets pick up, small caps tend to outperform. With global equity leadership broadening, the odds could tilt in favor of small-cap stocks outperforming large caps in the coming months.



<h2 class="wp-block-heading">Investor Implications</h2>



<ol start="1">
<li>Hold the Fort: S&amp;P 500 ETFs like SPY and VOO remain bullish but aren't the most compelling entry point unless the index decisively clears 6,100.</li>



<li>Watch the Underdog: Russell 2000's bullish setup favors ETFs like IWM and VTWO, especially if the index breaks past 2,350.</li>



<li>Global Check: Keep an eye on cyclical trends worldwide—they could fuel the small-cap rally while large caps tread water.</li>
</ol>



<h2 class="wp-block-heading">Would Small Caps Could Steal The Show?</h2>



Big caps are holding steady, but the real action could soon shift to small caps.



ETF investors, stay nimble—the underdog's moment may be just around the corner.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/25/02/43827291/exclusive-will-trumps-tariffs-hurt-or-help-stock-market-59-say-this" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Will Trump&#8217;s Tariffs Hurt Or Help Stock Market? 59% Say This…</a></li>
</ul>



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Analyst Color

Long Ideas

Broad U.S. Equity ETFs

Technicals

Analyst Ratings

Trading Ideas

ETFs

VTWO

S&P 500 Vs. Russell 2000: Are Small Caps Set For A Breakout?

Financial technology company Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) could highlight its growth across several sectors along with its place in the cryptocurrency ecosystem when the company reports fourth-quarter financial results Thursday <a href="https://www.benzinga.com/quote/XYZ/earnings">after market close.</a>



Earnings Estimates: Analysts expect Block to report fourth-quarter revenue of $6.29 billion, up from $5.77 billion in last year's fourth quarter.



The company missed analyst revenue estimates in the last two straight quarters, but has beaten estimates in eight of the last 10 quarters.



Analysts expect the company to report fourth-quarter earnings per share of 87 cents, up from 45 cents per share in last year's fourth quarter. The company has beaten analyst estimates for earnings per share in three straight quarters and eight of the last 10 quarters overall.



What Analysts Are Saying: The resurgence of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could be a positive narrative for Block, RBC Capital analyst Daniel Perlin said in a new investor note.



The analyst has an Outperform rating and $110 price target ahead of fourth-quarter earnings.



"Given the resurgence in investor interest in bitcoin and the expectation for regulatory clarity, we believe that XYZ's 4Q24 results will include increased commentary regarding it leaning more into its bitcoin strategy," Perlin said.



The analyst said this could include comments on the company's crypto mining and wallets efforts along with commerce use cases.



"We believe the increased commentary combined with a positive narrative will drive investor interest, who will begin the bake more than just its core Cash App and Square businesses into the stock's valuation."



The analyst highlighted Block's 8,363 reported held bitcoin at the end of the third quarter along with incremental bitcoin purchases that could total around $781 million in holdings at the end of the fourth quarter.



Block's push into bitcoin mining could highlight the company's technological expertise and growth in the cryptocurrency ecosystem, Perlin added.



"The bitcoin narrative has more substance now. While positive for the stock, we don't see bitcoin sales as the reason to buy XYZ. What we do see as a more legitimate reason is the belief that longer-term, Block will leverage its two-sided network and integration with the Lightning Network to be the facilitator of bitcoin's commerce use case."



The analyst said Block will operate in several crypto sectors where there are only a handful of competitors.



The analyst views President Donald Trump's pro-crypto stance as positive for Block. The president has appointed several crypto advocates to notable financial roles in the White House administration.



"We believe that regulatory momentum has no reason to slow, which could lead to a greater level of bitcoin's integration into traditional financial services and commerce."



Bank of America analyst Jason Kupferberg recently named Block as a top Payments pick for 2025. The analyst has a Buy rating and a $115 price target.



Kupferberg said Block has the potential to outperform thanks to a favorable macro backdrop and growth in the company's Square gross payments volume.



The analyst said Block will likely achieve the Rule of 40, or revenue growth and profit margin added together, equaling 40 or more, sooner than anticipated. Kupferberg predicts this could lead to Block being added to the S&amp;P 500.



XYZ Price Action: Block stock is down 1.3% to $82.78 on Thursday versus a 52-week trading range of $55.00 to $99.26. Block stock is up 25% over the last year.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/02/43856737/applovin-stock-tumbles-as-short-seller-takes-a-closer-look-at-whats-driving-enormous-gains">AppLovin Stock Tumbles As Short Seller Takes Closer Look At What&#8217;s Driving Enormous Gains</a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

Tech

$BTC

Block Q4 Earnings Preview: Analyst Says Bitcoin, Trump Factor Could Boost Growth

Gold climbed to fresh highs early on Feb. 20 as investors flocked to the ultimate safe-haven asset amid rising geopolitical <a href="https://www.benzinga.com/topic/gold">tensions and economic uncertainty</a>. 



Spot bullion hit a new record of $2,954.84 an ounce earlier on Thursday before paring some of its gains. Amidst this surge, <a href="https://www.benzinga.com/etfs">ETFs tied to gold</a> are gaining traction, offering investors a way to capitalize on the yellow metal's bullish momentum.



The optimism around gold has sent several ETFs soaring, with the WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GDMN#BATS">GDMN</a>) leading the charge. The ETF has gained over 25% in the past month. While such a sharp rise might give some investors pause, many analysts believe the rally still has legs.



Also Read: <a href="https://www.benzinga.com/news/25/02/43798394/trumps-treasury-secretary-eyes-750-billion-gold-windfall-but-could-selling-reserves-crash-the-market">Trump&#8217;s Treasury Secretary Eyes $750 Billion &#8216;Gold Windfall&#8217;—But Could Selling Reserves Crash the Market?</a>



Nigel Green, CEO of deVere Group, sees the revaluation of US gold reserves as a potential disruptor. ETF Trends quoted him stating that "re-marking gold to its real market value could be a transformative financial event." This is particularly relevant for investors considering GDMN, which not only provides exposure to gold futures but also includes shares of mining companies—an asset class highly correlated to spot gold prices.



SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is another ETF that one might keep an eye on. As the largest physically backed gold ETF, GLD provides direct exposure to gold prices. Given the current macroeconomic uncertainty and strong central bank buying, GLD remains a go-to option for investors seeking a straightforward way to participate in the metal&#8217;s price movements.



Another on the list is VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which focuses on gold mining companies that tend to have leveraged exposure to gold prices. If the rally continues, gold miners could see substantial profit boosts, making GDX an attractive pick for those looking for amplified gains beyond spot gold.



Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43767224/gold-soars-as-trump-trade-of-2025-what-investors-should-know">Gold Soars as &#8216;Trump Trade&#8217; of 2025: What Investors Should Know</a>



<h2 class="wp-block-heading">What&#8217;s Fueling The Rally?</h2>



Broader geopolitical concerns are playing a major role in the metal's ascent. Uncertainty over Trump's stance on Ukraine are making investors jittery. The US President recently suggested that Ukrainian President Volodymyr Zelenskiy should move swiftly toward a peace deal with Russia, warning that "he is not going to have a country left" otherwise. With mounting fears that Washington could withdraw its support for Ukraine, traders are looking to gold as a hedge against geopolitical instability.



Gold's rise has been further fueled by Trump's disruptive trade policies, which continue to send shockwaves through global markets. According to Bloomberg, Goldman Sachs <a href="https://www.bloomberg.com/news/articles/2025-02-20/gold-holds-near-record-as-geopolitical-fears-drive-haven-demand?sref=TBDibEcD">raised </a>its year-end gold target to $3,100 an ounce, citing stronger-than-expected central bank buying as a key driver.



Meanwhile, escalating trade frictions between the US and Europe in the backdrop of Trump's tariff threats are affecting the global gold market. The resulting price surge in New York has triggered a rush to transport bullion from London across the Atlantic. In one of the largest physical gold movements in years, major banks like JPMorgan Chase and HSBC are capitalizing on the price differential, flying gold from Swiss refineries and London vaults to the US. The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/why-dealers-are-flying-gold-bars-by-plane-from-london-to-new-york-86824199">reported </a>that JPMorgan alone is set to deliver $4 billion worth of gold this month, to grab the arbitrage opportunity created by regional pricing disparities.



Adding to the intrigue, US Treasury Secretary Scott Bessent sought to quash speculation that the government might revalue its bullion holdings, stating that such a move is "not what I had in mind" when discussing plans for a sovereign wealth fund. Bessent confirmed that he has no plans to visit Fort Knox, the secure facility that houses much of the US gold reserve, stating that "all the gold is there" and that any senator is welcome to verify it. Trump, on his part, has emphasized his administration's commitment to ensuring that these reserves are properly accounted for.



China is another major factor in the mix that investors should monitor. Beyond the People's Bank of China's aggressive bullion purchases, Beijing recently approved a policy allowing insurance companies to invest in gold. Nigel Green said that this move is expected to unleash billions of dollars in fresh demand, further stoking the rally, according to ETF Trends.



With central banks continuing to amass gold at a historic pace, trade tensions disrupting global supply chains, and geopolitical risks mounting, gold's rally appears far from over. And for investors looking to capitalize on this momentum, ETFs like GDMN, GLD and GDX could be a &#8216;golden&#8217; opportunity.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43856078/etfs-take-over-why-investors-are-pulling-billions-from-mutual-funds">ETFs Take Over: Why Investors Are Pulling Billions From Mutual Funds</a></li>
</ul>



Photo: Shutterstock

Specialty ETFs

Commodities

GDMN

Bullion Boom: Gold ETFs Gain As Geopolitical Storm Fuels Surge

Stocks tumbled Thursday, with all major indices in the red, one day after the S&amp;P 500 notched another all-time high in Wednesday&#8217;s trading session. Investors are weighing uncertainty surrounding tariff policies and disappointing guidance from Walmart while digesting new<a href="https://www.benzinga.com/markets/forex/25/02/43843332/global-markets-mixed-dollar-dips-as-traders-react-to-trumps-tariff-plans-global-markets-today-while-us-slept"> initial jobless claims data.</a>



Mega-retailer Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>)&#8217;s shares dropped after the company issued fiscal 2026 guidance below analyst expectations, despite fourth-quarter results beating expectations.



Retail investor darling Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) added to Wednesday&#8217;s declines <a href="https://www.benzinga.com/25/02/43849289/whats-going-on-with-palantir-stock-thursday">following a report </a>that the Trump administration told the Pentagon to prepare for sweeping budget cuts and CEO Alex Karp filed a new trading plan to sell up to $1.2 billion shares.



Read Next:<a href="https://www.benzinga.com/25/02/43836832/trump-administration-orders-sweeping-pentagon-cuts-defense-sector-stocks-on-watch"> Trump Administration Orders Sweeping Pentagon Cuts: Palantir, Lockheed Martin, General Dynamics Among Stocks On Watch</a>



Initial jobless claims rose by 5,000 to 219,000, above expectations of 215,000, while continuing claims rose to 186,900 in the first week of February.



WTI crude oil futures rose above $72 per barrel on Thursday, extending its streak of gains to four days as supply concerns outweighed a rise in U.S. stockpiles, according to TradingEconomics. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.09% to $97,695. The yield on the 10-year US Treasury note pulled back slightly to 4.5%.



<h2 class="wp-block-heading">Thursday's Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>19,911.27</td><td>-0.72%</td></tr><tr><td>S&amp;P 500</td><td>6,101.27 </td><td>-0.7%</td></tr><tr><td>Dow Jones</td><td>44,036.44</td><td>-1.32%</td></tr><tr><td>Russell 2000</td><td>2,252.49</td><td>-1.31%</td></tr></tbody></table></figure>



According to Benzinga Pro data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.67% to $608.82. </li>



<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was down 1.26% at $441.02</li>



<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slipped 0.7% to $535.72. </li>



<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) was down 1.17% to $223.79. </li>



<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) fell 1.39% to $223.10.</li>



<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;rose 0.6% to $92.57. </li>
</ul>



<h2 class="wp-block-heading">Thursday's Stock Movers:&nbsp;</h2>



Cruise stocks Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCHL#NYSE">NCHL</a>) tumbled, leading consumer discretionary stocks lower. The SPDR Select Sector Fund &#8211; Consumer Discretionary (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) fell 1.44%. 



Stocks reacting to company earnings reports included:&nbsp;



<ul>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)&nbsp;</li>



<li>Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>)&nbsp;</li>



<li>B2Gold Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BTG#AMEX">BTG</a>)</li>



<li>Exact Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>)</li>



<li>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)</li>



<li>Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) </li>



<li>Taseko Mines, Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/TGB#AMEX">TGB</a>)&nbsp;</li>



<li>Shake Shack, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) </li>



<li>Materialise NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTLS#NASDAQ">MTLS</a>) </li>



<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) </li>



<li>Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) </li>



<li>Jumia Technologies AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NYSE">JMIA</a>) </li>



<li>Birkenstock Holding Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) </li>



<li>Sabre Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SABR#NASDAQ">SABR</a>) </li>



<li>Ardelyx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDX#NASDAQ">ARDX</a>) </li>
</ul>



Companies reporting after Thursday's closing bell include:&nbsp;



<ul>
<li>Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) </li>



<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) </li>



<li>Iamgold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>) </li>



<li>The RealReal, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REAL#NASDAQ">REAL</a>) </li>



<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) </li>



<li>Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) </li>



<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) </li>



<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) </li>



<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) </li>



<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) </li>
</ul>



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/02/43703014/robert-f-kennedy-confirmed-as-trump-secretary-of-health">Robert F. Kennedy, Vaccine Skeptic, Confirmed As Trump&#8217;s Secretary Of Health: Health Care Stocks To Watch</a></li>
</ul>



Image: Shutterstock.

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Econ #s

Markets

Movers

General

ARDX

BABA

BIRK

BKNG

CELH

CVNA

EXAS

JMIA

MELI

MTLS

NCLH

PLTR

REAL

RIVN

SABR

SHAK

VALE

NCHL

Palantir Rally Loses Steam, Walmart Outlook Disappoints: What's Driving Markets Thursday?

AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) shares are under pressure on Thursday after being targeted by a short report from The Bear Cave. Here&#8217;s a look at what <a href="https://www.benzinga.com/content/43848191/up-nearly-1000-can-applovin-keep-delivering-for-investors">you need to know</a>.



What Happened: Short seller The Bear Cave released a new research report on Thursday alleging ad fraud at AppLovin.



&#8220;The Bear Cave believes AppLovin's rapid rise — up ~750% over the last year to around 35x revenue — is fueled by low-quality revenue growth from ads that are deceptive, predatory, and at times unreadable or unclickable,&#8221; the short seller said.



Benzinga has reached out to Applovin for comment on the short report.



The Bear Cave said it spent &#8220;dozens of hours&#8221; playing mobile games within the AppLovin ecosystem and found numerous ads for obscure real money gambling apps with &#8220;questionable representations.&#8221; The Bear Cave believes much of AppLovin&#8217;s revenue growth is being driven by ads for these gambling apps.



The short seller also suggested that AppLovin is spamming its ads on players. After playing 40 seconds of one of the company&#8217;s games in its ad universe, The Bear Cave said it was force-fed a total of 11 ads.



&#8220;The ads were often difficult to read and constantly updated within gameplay,&#8221; the short seller said.



Check This Out: <a href="https://www.benzinga.com/25/02/43844926/quantum-computing-stocks-rgti-qubt-ionq-qbts-cheer-microsofts-majorana-1-launch-satya-nadella-calls-it-a-physics-and-fabrication-breakthrough">Quantum Computing Stocks RGTI, QUBT, IONQ, QBTS Cheer Microsoft&#8217;s &#8216;Majorana 1&#8217; Launch: Satya Nadella Calls It A &#8216;Physics And Fabrication Breakthrough&#8217;</a>



The Bear Cave also raised a red flag around ad fraud allegations, which have &#8220;multiplied&#8221; in recent months, according to the short seller. The Bear Cave went on to highlight multiple posts from different internet forums showing dissatisfaction with AppLovin&#8217;s ad services, including multiple instances of former AppLovin customers alleging fraud.



AppLovin reported <a href="https://www.benzinga.com/news/earnings/25/02/43676556/applovin-stock-soars-on-q4-earnings-revenue-beat-eps-beat-strong-guidance-and-more">strong quarterly results</a> last week showing revenue growth of 44% on a year-over-year basis. The stock popped 20% on the report as the company highlighted the strength of its AI advertising model. 



"Early adopters in gaming and direct-to-consumer commerce have already seen the impact of our technology, and our mission is clear: to onboard every business that wants to drive measurable growth,&#8221; the company said in a letter to shareholders.



APP Price Action: <a href="http://benzinga.com/quote/app">AppLovin shares</a> are up approximately 655% over a one-year period. The stock was down 10.4% at $442.78 at the time of publication Thursday, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Photo: Shutterstock.

Short Sellers

Short Ideas

AppLovin Stock Tumbles As Short Seller Takes Closer Look At What's Driving Enormous Gains

JPMorgan analysts have raised concerns over declining institutional demand for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) futures, suggesting this trend could contribute to broader weakness in <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43849122/xrp-up-297-against-bitcoin-since-donald-trump-won-the-election-heres-why">the cryptocurrency market</a>.



What Happened: The analysts observed that futures contracts for both cryptocurrencies on the Chicago Mercantile Exchange are approaching a condition known as backwardation, where futures prices drop below spot prices, <a href="https://www.theblock.co/post/342362/jpmorgan-crypto-downside-risk-bitcoin-ether-futures?utm_source=twitter&amp;utm_medium=social">according </a>to The Block.



This pattern was previously seen during downturns in June and July last year.



The total market capitalization of cryptocurrencies has decreased by about 15 percent since hitting a peak of $3.7 trillion in December, now hovering around $3.1 trillion. 



According to JPMorgan, when demand from institutional investors is strong, Bitcoin and Ethereum futures generally trade at a premium to spot prices, a condition referred to as contango. 



The current shift away from this trend suggests that institutional investors may be stepping back.



Analysts, led by Nikolaos Panigirtzoglou, identified two main reasons for the weakening demand.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43847052/vitalik-buterin-criticizes-blockchain-casinos-suggests-ethereum-wont-follow-solanas-approach-to-meme-coins">Vitalik Buterin Criticizes Blockchain &#8216;Casinos,&#8217; Suggests Ethereum Won&#8217;t Follow Solana&#8217;s Approach To Meme Coins</a>



First, some institutional investors appear to be securing profits amid uncertainty, as there are no imminent developments in crypto regulations or policies. 



With no major government actions expected before mid-year, these investors may be hesitant to increase their exposure.



Second, momentum-based funds, such as commodity trading advisors, have also been reducing their positions in Bitcoin and Ethereum, contributing to declining demand. 



Ethereum has already shown negative price signals, while Bitcoin's indicators are also trending downward.



What&#8217;s Next: While long-term optimism remains among some investors, JPMorgan analysts suggest that further declines could occur if institutional interest does not recover.



Observers are now closely watching CME futures trends and broader macroeconomic signals for signs of market direction.



Without a clear catalyst to reignite demand, the cryptocurrency market may face additional pressure in the short term, potentially leading to further declines in Bitcoin and Ethereum prices.



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<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a></li>
</ul>



Image: Shutterstock

$ETH

Bitcoin, Ethereum Face Downside Risk As Institutional Demand Fades, JPMorgan Says

Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) just threw down the quantum gauntlet. On Wednesday, <a href="https://www.benzinga.com/quote/MSFT/news">CEO Satya Nadella unveiled</a> Majorana 1, a quantum chip powered by an entirely new state of matter—topoconductors. 



Yes, you read that right. Microsoft didn't just build a chip; it claims to have unlocked a new form of matter.



&#8220;Most of us grew up learning there are three main types of matter: solid, liquid, and gas. Today, that changed,&#8221; Nadella declared on X. 



<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">A couple reflections on the quantum computing breakthrough we just announced&#8230; Most of us grew up learning there are three main types of matter that matter: solid, liquid, and gas. Today, that changed. After a nearly 20 year pursuit, we've created an entirely new state of… <a href="https://t.co/Vp4sxMHNjc">pic.twitter.com/Vp4sxMHNjc</a>&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1892242895094313420?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to him, the breakthrough could fast-track practical quantum computing—not in decades, but mere years.



&#8220;We've created an entirely new state of matter,&#8221; Nadella said.



<h2 class="wp-block-heading">A New State of Matter: Majorana Fermions Take Center Stage</h2>



Microsoft says the Majorana 1 chip, built on a topological core, caps off a 20-year struggle that many physicists thought was pure sci-fi. 



The breakthrough hinges on elusive Majorana fermions, theorized in 1937 but only detected by Microsoft's team in 2022, <a href="https://www.ft.com/content/a60f44f5-81ca-4e66-8193-64c956b09820">reported</a> the Financial Times. Now, Redmond says it has built the foundation for quantum computers that could leapfrog the competition.



Read Also: <a href="https://www.benzinga.com/25/02/43830761/microsoft-unveils-majorana-1-quantum-chip-races-against-google-and-nvidia-in-quantum-computing">Microsoft Joins Quantum Computing Battle with Majorana 1, Challenging Google, Nvidia&#8217;s Advances</a>



<h2 class="wp-block-heading">Will MSFT Stock Get A Quantum Boost?</h2>



But can this quantum magic lift Microsoft&#8217;s stock out of its current slump?



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent022025&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20095649/Screenshot-2025-02-20-at-8.26.37-PM.png" alt="" class="wp-image-791123" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20095649/Screenshot-2025-02-20-at-8.26.37-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20095649/Screenshot-2025-02-20-at-8.26.37-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent022025&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



MSFT stock is down 0.58% year-to-date and 3.32% over the past year. Technically, the stock looks stuck in the quantum foam. It's trading below its 20, 50 and 200-day simple moving averages (SMAs), flashing multiple bearish signals.



However, there's a glimmer of bullish potential. MSFT stock, at $415.66, trades above its eight-day SMA of $411.47, signaling some short-term buying pressure. 



The Relative Strength Index (RSI) sits at 46.59, in the neutral zone, hinting that the stock isn't oversold yet.



<h2 class="wp-block-heading">Quantum Buzz Vs. Market Reality</h2>



While the MACD indicator remains at a negative 4.69, Microsoft bulls might see this quantum reveal as the spark needed to break out of the bearish grip. 



After all, if Microsoft can bend the rules of matter, who&#8217;s to say it can&#8217;t bend the market trend, too?



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/02/43844926/quantum-computing-stocks-rgti-qubt-ionq-qbts-cheer-microsofts-majorana-1-launch-satya-nadella-calls-it-a-physics-and-fabrication-breakthrough">Quantum Computing Stocks RGTI, QUBT, IONQ, QBTS Cheer Microsoft&#8217;s &#8216;Majorana 1&#8217; Launch: Satya Nadella Calls It A &#8216;Physics And Fabrication Breakthrough&#8217;</a></li>
</ul>



Photo: Shutterstock

MSFT

Microsoft's Quantum Leap: Will Majorana 1 Lift MSFT Stock?

As markets navigate a challenging landscape, George Smith, Portfolio Strategist for LPL Financial, is advocating a recalibrated <a href="https://www.benzinga.com/topic/economy">asset allocation strategy </a>for the next three to five years. 



His outlook reflects a "higher-for-longer" interest rate environment, subdued economic growth, and inflation that may remain stubbornly above the Federal Reserve's target.



<h2 class="wp-block-heading">Dialing Down Risk: A Cautious Equity Stance</h2>



&#8220;The risk-reward trade-off for both stocks and bonds is being challenged by a slowing-growth environment, elevated inflation, and a &#8216;higher-for-longer&#8217; interest rate outlook,&#8221; Smith said. He added that stretched equity valuations and falling equity risk premiums have prompted his team to reduce exposure to domestic growth stocks, particularly large- and mid-cap names.



Instead, Smith favors value equities and emerging markets. &#8220;Foreign equities, especially emerging markets, remain attractive over the longer term,&#8221; he notes, emphasizing the risk-reward advantage of rotating from developed markets into EM. 



For investors, ETFs like the Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>) and the iShares MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) could align with this strategy.



Read Also: <a href="https://www.benzinga.com/trading-ideas/25/02/43827291/exclusive-will-trumps-tariffs-hurt-or-help-stock-market-59-say-this" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Will Trump&#8217;s Tariffs Hurt Or Help Stock Market? 59% Say This…</a>



<h2 class="wp-block-heading">Fixed Income: Playing It Smart</h2>



In fixed income, Smith advises trimming nominal Treasuries, stating, &#8220;Longer-duration fixed income may not deliver significant protection in ordinary financial market corrections.&#8221; 



Instead, core bonds remain essential for diversification and income, while short-duration Treasury Inflation-Protected Securities (TIPS) gain favor. 



The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>) offers a way to implement this.



<h2 class="wp-block-heading">Alternatives, Real Assets: Diversifying The Playbook</h2>



To hedge volatility and enhance diversification, Smith highlights the importance of alternatives. &#8220;We believe alternative investments can be used to hedge potential volatility and market concentration risks via a diversified basket of long/short equity, managed futures, and global macro strategies,&#8221; he says. 



Multi-strategy and global macro funds, such as the iMGP DBi Managed Futures Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBMF#NYSE">DBMF</a>), can serve this purpose.



For inflation protection, Smith suggests real assets. &#8220;We aim to hedge potential inflation risks by initiating an off-benchmark diversified basket of commodities and global listed infrastructure,&#8221; he explains. 



ETFs like the Invesco DB Commodity Index Tracking Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBC#NYSE">DBC</a>) and Global X U.S. Infrastructure Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAVE#NYSE">PAVE</a>) fit the bill.



With risks mounting and traditional stock-bond dynamics shifting, Smith&#8217;s insights provide a timely roadmap for resilient portfolios.



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43776863/top-3-risk-off-stocks-which-could-rescue-your-portfolio-this-quarter-3">Top 3 Risk Off Stocks Which Could Rescue Your Portfolio This Quarter</a></li>
</ul>



Photo: Shutterstock

Macro Economic Events

Economics

Federal Reserve

DBMF

PAVE

2025 Asset Allocation In 'Higher-For-Longer' Era: Why Value Stocks, Emerging Markets, Inflation-Protected Bonds Stand Out

As the Chairman and CEO of Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Satya Nadella announced the world's first-of-a-kind quantum chip &#8211; Majorana 1, quantum computing stocks jumped with the euphoria surrounding the discovery.



What Happened: Even as skeptics raised questions on the usage of the word "breakthrough," Nadella in a podcast with Dwarkesh Patel reiterated that this was a "physics and fabrication breakthrough" and not a "quantum computing breakthrough".



Describing a new phase of matter that was used to conduct information in the new chip, Nadella in an X post said, "We've created an entirely new state of matter, unlocked by a new class of materials, topoconductors, that enable a fundamental leap in computing."



He termed this discovery as the "the transistor moment of quantum computing," in the podcast.



<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">A couple reflections on the quantum computing breakthrough we just announced&#8230; Most of us grew up learning there are three main types of matter that matter: solid, liquid, and gas. Today, that changed. After a nearly 20 year pursuit, we've created an entirely new state of… <a href="https://t.co/Vp4sxMHNjc">pic.twitter.com/Vp4sxMHNjc</a>&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1892242895094313420?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Following this, the quantum computing stocks edged higher on Wednesday. The stocks were also trading higher in the premarket on Thursday. On a year-to-date basis, these stocks had underperformed the benchmarks.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Stocks</td><td>Wednesday&#8217;s Performance</td><td>Thursday&#8217;s Pre-Market Performance</td><td>YTD Performance</td></tr><tr><td>Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</td><td>4.58%</td><td>11.06%</td><td>-44.85%</td></tr><tr><td>Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</td><td>7.86%</td><td>9.80%</td><td>-57.57%</td></tr><tr><td>D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</td><td>8.28%</td><td>9.48%</td><td>-31.95%</td></tr><tr><td>IonQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</td><td>0.59%</td><td>4.51%</td><td>-20.79%</td></tr><tr><td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td><td>0.18%</td><td>0.73%</td><td>3.57%</td></tr></tbody></table></figure>



See Also: <a href="https://www.benzinga.com/25/02/43839198/reduce-deficits-and-debt-full-stop-says-this-economist-as-trump-mulls-doge-dividend-by-giving-away-20-of-its-savings-to-public">&#8216;Reduce Deficits And Debt… Full Stop,&#8217; Says Craig Shapiro As Trump Mulls &#8216;DOGE Dividend&#8217; By Giving Away 20% Of Its Savings To Public</a>



Why It Matters: Investor and businessman Martin Shkreli criticized IonQ and Rigetti Computing&#8217;s stock valuations, claiming quantum computing isn&#8217;t commercially viable.



He suggested Microsoft&#8217;s new ‘Majorana 1' chip, despite its &#8220;breakthrough&#8221; claims, could hurt its market positions. Shkreli also alleged attempts to suppress the publication of Microsoft&#8217;s quantum research.



<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">There was a fairly vicious battle to disqualify the Microsoft quantum paper from publication. The word &#39;breakthrough&#39; should be used very carefully. <a href="https://t.co/pDHiRcsh4w">pic.twitter.com/pDHiRcsh4w</a>&mdash; Martin Shkreli (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1892384299329958344?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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>) backed Google&#8217;s Willow chip which was announced on Dec. 9, 2024. It achieved a quantum memory milestone, solving a problem in minutes that would take a supercomputer longer than the universe&#8217;s age. Despite this, high error rates still limited its practical quantum memory applications.



Nadella, on the other hand, in the conversation with Patel also said "We have also got some fantastic breakthroughs on error correction."



See Also: <a href="https://www.benzinga.com/25/02/43839505/occidental-petroleum-achieves-near-term-debt-reduction-target-7-months-early-in-q4-continuing-this-momentum-management-sets-12-billion-target-for-q1">Warren Buffett&#8217;s Favorite Energy Stock Occidental Petroleum Achieves Near-Term Debt Reduction Target 7 Months Early In Q4: Management Sets $1.2 Billion Target For Q1</a>



Price Action: MSFT rose 1.25% on Wednesday, contrasting with a slight 0.028% uptick in the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq 100 index.



In premarket on Thursday, it was up 0.38% whereas QQQ was down 0.20%. MSFT remains 0.91% lower on a year-to-date basis and only 2.97% up over the year.



<a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">Benzinga tracks 31 analysts</a> with an average price target of $509.23 for the stock, reflecting a &#8220;buy&#8221; rating. Estimates range widely from $425 to $600. Recent ratings from UBS, DA Davidson, and RBC Capital average $478.33, suggesting a potential 14.80% upside.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="388" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20070830/MSFT-stock-ANR-1024x388.png" alt="" class="wp-image-790724" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20070830/MSFT-stock-ANR-1024x388.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20070830/MSFT-stock-ANR-300x114.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20070830/MSFT-stock-ANR-768x291.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20070830/MSFT-stock-ANR.png 1069w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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<li><a href="https://www.benzinga.com/25/02/43841233/carvanas-brain-sebastian-says-ceo-as-he-vows-aggressive-ai-initiatives-to-process-very-deep-data">Carvana&#8217;s Online Chatbot Sebastian &#8216;Represents The Brain We&#8217;re Building,&#8217; Says CEO As Used Car Retailer Posts 50% Sales Growth In Q4</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

GOOG

GOOGL

IONQ

QBTS

QTUM

QUBT

RGTI

Quantum Computing Stocks RGTI, QUBT, IONQ, QBTS Cheer Microsoft's 'Majorana 1' Launch: Satya Nadella Calls It A 'Physics And Fabrication Breakthrough'

Shares of retail giant Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) are trading <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">lower in premarket</a> on Thursday.



The company reported fourth-quarter FY25 sales growth of 4.1% year-on-year to $180.55 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43843721/walmart-reports-strong-revenue-of-4-1-up-5-3-in-constant-currency-cc-with-operating-income-growing" rel="noreferrer noopener">consensus estimate of $180.01 billion</a>.



The retailer reported that in the fourth quarter of 2025, adjusted EPS&nbsp;was 66 cents, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus estimate of 64 cents.</a>



The gross margin rate was up 53 basis points, led by Walmart U.S. Operating income increased $0.6 billion, or 8.3%, and adjusted operating&nbsp;income&nbsp;was up&nbsp;9.4% due to higher gross margins and growth in membership income.



Global eCommerce sales grew 16%, led by store fulfilled pickup &amp; delivery and U.S. marketplace.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43791589/why-is-uber-stock-trading-higher-on-tuesday" rel="noreferrer noopener">Uber&#8217;s Ski Service Launches Across Europe: Details</a>



Global advertising business improved 29%, including 24% for Walmart Connect in the U.S.



Same-store sales for Walmart U.S. climbed by 4.6%, excluding fuel, driven by growth in transactions and unit volumes. At Sam&#8217;s Club, same-store sales rose 6.8%, excluding fuel.



Walmart generated an operating cash flow of $36.4 billion and a free cash flow of $12.7 billion in fiscal year 2025. It ended the quarter with cash and equivalents of $9 billion.



&#8220;Our team finished the year with another quarter of strong results. We have momentum driven by our low prices, a growing assortment, and an eCommerce business driven by faster delivery times. We&#8217;re gaining market share, our top line is healthy, and we&#8217;re in great shape with inventory,&#8221; said President and CEO Doug McMillon.



Walmart Board also approved an annual cash dividend for fiscal year 2026 of $0.94 per share, representing a 13% increase from the $0.83 per share paid for the last fiscal year.



The fiscal year 2026 annual dividend of $0.94 per share will be paid in four quarterly <a href="https://www.benzinga.com//node/43843802">installments of $0.235 per share.</a>



Guidance: Walmart sees first-quarter FY26 sales growth of 3% &#8211; 4% in CC and adjusted EPS of <a href="https://www.benzinga.com/calendars/guidance">$0.57 &#8211; $0.58 against an estimate of $0.64.</a>



For FY26 Walmart expects sales to grow 3% &#8211; 4% in CC and an adjusted EPS of $2.50 &#8211; $2.60, below the $2.76 estimate.



Price Action: WMT shares are trading lower by 7.84% at $95.85 in premarket at last check Thursday.



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Image via Shutterstock.

Earnings

Guidance

Dividends

Walmart Q4 Earnings Shine, But Soft FY26 Outlook Disappoints Street

Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) stock is trading higher Thursday after the company&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43841974/alibaba-group-announces-december-quarter-2024-results" rel="noreferrer noopener">fiscal third-quarter&nbsp;report</a>.



The Jack Ma co-founded e-commerce giant reported fiscal third-quarter 2024 revenue growth of 8% year-on-year to $38.38 billion, beating the analyst consensus estimate of $38.19 billion. Adjusted earnings per ADS of $2.93 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.66</a>.&nbsp;Adjusted net income rose 7% Y/Y to $7 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/02/43815333/muddy-waters-carson-block-warns-against-chinese-stocks-despite-recent-market-surge-report" rel="noreferrer noopener">Muddy Waters&#8217; Carson Block Warns Against Chinese Stocks Despite Recent Market Surge: Report</a>



Segments: Revenue from Taobao and Tmall Group grew by 5% year over year to $18.64 billion. Revenue from Alibaba International Digital Commerce Group increased by 32% year over year to $5.17 billion, driven by the growth of cross-border businesses.



Local Services Group revenue grew by 12% year over year to $2.33 billion, driven by the order growth of Amap and Ele.me and revenue growth from marketing services.&nbsp;



Cainiao Smart Logistics Network Limited&#8217;s revenue decreased 1% year over year to $3.87 billion due to ongoing restructurings with its e-commerce businesses taking on specific logistics platform roles.&nbsp;



Cloud Intelligence Group revenue grew by 13% Y/Y to $4.35 billion.



Digital Media and Entertainment Group rose 8% Y/Y to $745 million. All other revenue grew by 13% Y/Y at $7.28 billion.



In the Taobao and Tmall Group, customer management revenue grew 9% year over year due to the growth in online GMV and improvement in take rate.



Revenue from China&#8217;s commerce retail business grew 5% year over year to $17.74 billion, while direct sales and other revenue declined by 9% year over year to $3.94 billion, primarily attributable to our planned reduction of certain direct sales businesses.



Revenue from China&#8217;s commerce wholesale business grew by 24% year over year to $901 million due to the increase in revenue from value-added services provided to paying members.



Alibaba International Digital Commerce Group:&nbsp;International commerce retail business revenue grew by 36% year over year to $4.32 billion, primarily driven by the increase in revenue contributed by AliExpress&#8217;&nbsp;Choice&nbsp;and Trendyol.&nbsp;International commerce wholesale business revenue grew by 18% Y/Y to $850 million.



Cloud Intelligence Group:&nbsp;Overall revenue, excluding Alibaba-consolidated subsidiaries, increased by 11% Y/Y, which was mainly driven by the double-digit revenue growth of public cloud products, including AI-related products. Recently, Alibaba launched its <a target="_blank" href="https://www.benzinga.com/markets/asia/25/02/43838388/alibaba-struggles-in-hong-kong-before-earnings-despite-xi-jinpings-support-as-us-funds-jump-in-asia-pulls-back" rel="noreferrer noopener">first cloud region</a> in Mexico.



As of December 31, 2024, Alibaba held $83.58 billion in cash and equivalents and generated an operating cash flow of $9.72 billion, up 10% year over year.



During the quarter, it generated a free cash flow of $5.35 billion, down 31% year over year. This was mainly due to the increase in expenditure related to its investments in cloud infrastructure.



Outlook: Alibaba said during the conference call that it expects its international e-commerce unit to turn profitable next fiscal year and looks to invest more in Cloud and AI over the next three years than in the past decade.



Alibaba stock surged 72% in the last 12 months, buoyed by China&#8217;s stimulus measures to drive the economy and as the e-commerce juggernaut&#8217;s affordable AI models gained traction.



Recently, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) tapped Alibaba <a target="_blank" href="https://www.benzinga.com/government/regulations/25/02/43730124/apple-focuses-on-alibaba-baidu-partnership-in-race-to-bring-ai-features-to-china-by-mid-2025" rel="noreferrer noopener">to co-develop and</a> integrate AI features into its iPhones for the Chinese market.



Price Action:&nbsp;BABA shares traded higher by 10.50% at $139.05 premarket at&nbsp;the last check on Friday.



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<li><a href="https://www.benzinga.com/25/02/43830761/microsoft-unveils-majorana-1-quantum-chip-races-against-google-and-nvidia-in-quantum-computing" target="_blank" rel="noreferrer noopener">Microsoft Joins Quantum Computing Battle with Majorana 1, Challenging Google, Nvidia&#8217;s Advances</a></li>
</ul>



Image via Shutterstock

AAPL

Alibaba Q3 Earnings: Revenue And EPS Beat, Eyes Global E-Commerce Profitability In FY25, Increase Investments In AI

U.S. stock futures fell on Thursday after another session of scaling fresh records on Wednesday. Futures of all four benchmark indices declined in the premarket.



Wednesday's Federal Reserve minutes showed officials favored pausing rate cuts, citing potential inflation from Trump&#8217;s tariffs and deportations. However, Defense Secretary Pete Hegseth announced an 8% reduction in military spending over the next five years, which led to the fall in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) stock.



The 10-year Treasury yield stood at 4.52%, while the two-year yield was at 4.26%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 97.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>-0.16%</td></tr><tr><td>S&amp;P 500</td><td>-0.15%</td></tr><tr><td>Dow Jones</td><td>-0.10%</td></tr><tr><td>Russell 2000</td><td>-0.22%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY declined 0.15% to $612.03, and QQQ was down 0.16% to $538.64, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Only Financials and Materials declined among all the 11 sectors, whereas Health Care, Consumer Staples, Energy, Utilities, and Real Estate sectors led gains.



January&#8217;s Fed minutes revealed officials felt they could pause rate adjustments, needing more inflation progress and time to assess the economy.



Last week saw positive momentum across equity markets. The S&amp;P 500 was approximately up 1.5%, the Dow Jones Industrial Average rose 0.6%, and the Nasdaq Composite gained 2.6% last week.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.075%</td><td>20,056.25 </td></tr><tr><td>S&amp;P 500</td><td>0.24%</td><td>6,144.15</td></tr><tr><td>Dow Jones</td><td>0.16%</td><td>44,627.59</td></tr><tr><td>Russell 2000</td><td>-0.34%</td><td>2,282.46</td></tr></tbody></table></figure>



Insights From Analysts



Highlighting the back-to-back all-time highs scaled by the S&amp;P 5000, Kevin Gordon, director, and senior investment strategist at Schwab said, &#8220;The last two all-time highs for the S&amp;P 500 have happened without major help from the Magnificent Seven."



&#8220;That group&#8217;s last all-time high was in mid-December.&#8221;



Talking about the upcoming Walmart Inc. earnings, Alex Coffey, senior trading and derivatives strategist at Schwab said, &#8220;Walmart&#8217;s strong grocery and consumer staples mix allows consumers to trade down."



&#8220;Tariffs could hit margins, but groceries and staples could give Walmart some resiliency against competitors,&#8221; he added.



Charlie Bilello, the chief market strategist at Creative Planning highlighted that U.S. stocks have outperformed international stocks for over 16 years but this year, the international stocks were up 7.2% as compared to a 4.0% gain for the S&amp;P 500.



<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">US stocks have outperformed International stocks for over 16 years, by far the longest run of outperformance in history. So far this year, we&#39;re seeing the opposite, with International stocks up 7.2% vs. a 4.0% gain for the S&amp;P 500. Video: <a href="https://t.co/gl3vzKh3W0">https://t.co/gl3vzKh3W0</a> <a href="https://t.co/zAvUsKKnKW">pic.twitter.com/zAvUsKKnKW</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1891895455732334902?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The fourth quarter corporate earnings season shows the mega-cap tech companies driving the AI buildout are largely sticking with their AI capex, even after the DeepSeek news, BlackRock said in their weekly note.



"In the U.S., where AI is shaping up to be a key driver of new power demand, estimates of the scale of the nation's total power needs are huge and growing," it added.



Extreme heat driving air conditioning use, electrification of buildings and vehicles, and AI buildout could drive power demands, according to analysts at BlackRock.



"We see soaring power demand driving bouts of market volatility. We get active to find investment opportunities – like in utilities, grids and electrical equipment supply chains – and value selectivity as performance dispersion grows," the note stated.



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep On Thursday:



<ul>
<li>Initial jobless claims till Feb. 15 will be announced and the Philadelphia Fed manufacturing survey for Feb will be out by 8:30 a.m., ET.</li>
</ul>



<ul>
<li>Chicago Fed President Austan Goolsbee will be speaking at 09:35 a.m., ET.</li>
</ul>



<ul>
<li>January&#8217;s leading economic indicators will be released at 10:00 a.m., ET.</li>
</ul>



<ul>
<li>Vice Chairman for Supervision Michael Barr will speak again at 2:30 p.m., ET.</li>
</ul>



<ul>
<li>Fed Governor Adriana Kugler will be speaking at 5:00 p.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) declined 0.49% in premarket on Thursday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of 64 cents per share on revenue of $180.25 billion.</li>
</ul>



<ul>
<li>Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) fell 0.024% as Wall Street expects it to report quarterly earnings of 86 cents per share on revenue of $6.25 billion. before the opening bell.</li>
</ul>



<ul>
<li>Southern Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) was up 0.012% ahead of its earnings, which will be released during market hours. Analysts expect it to report quarterly earnings of 51 cents per share on revenue of $5.9 billion.</li>
</ul>



<ul>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) fell 0.72% as Wall Street expects it to report revenue of $1.4 billion after the closing bell.</li>
</ul>



<ul>
<li>Xos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XOS#NASDAQ">XOS</a>) jumped 27.08% after announcing that its Xos Hub, a mobile EV charger, is now on the GSA Schedule, simplifying federal agency procurement via GSA Advantage.</li>
</ul>



<ul>
<li>Microvision Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVIS#NASDAQ">MVIS</a>) rallied 16.57% before partner Luxoft&#8217;s CES 2025 product reveal. Luxoft is a DXC Technology Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXC#NYSE">DXC</a>) subsidiary.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.26% to hover around $72.29 per barrel.



The gold spot index was up by 0.63% to $2,951.94 per ounce after hitting a fresh record of $2,954.89. The Dollar Index was down 0.27% at 106.88 level.



Asian markets ended lower on Thursday. All indices including, China's CSI 300, South Korea's Kospi, Australia's ASX 200, Hong Kong's Hang Seng, and Japan's Nikkei 225 index fell. European markets were mixed in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43839198/reduce-deficits-and-debt-full-stop-says-this-economist-as-trump-mulls-doge-dividend-by-giving-away-20-of-its-savings-to-public">&#8216;Reduce Deficits And Debt… Full Stop,&#8217; Says Craig Shapiro As Trump Mulls &#8216;DOGE Dividend&#8217; By Giving Away 20% Of Its Savings To Public</a></li>
</ul>



Photo courtesy: Shutterstock

Government

Pre-Market Outlook

MVIS

US Stocks Likely To Open Lower After Gaining For 2 Days: Walmart In Focus As Traders Await Retail Giant's Earnings

The possibility of Pentagon budget cuts along with CEO Alex Karp's stock trading plan triggered a <a href="https://www.benzinga.com/markets/equities/25/02/43837935/palantir-plunges-as-alex-karp-plans-123-billion-stock-sale-jim-cramer-urges-palanteers-to-support-the-stock-right-now-as-pentagon-eyes-defense-cuts">plunge</a> of over 10% in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)&#8217;s stock on Wednesday, with Wedbush analyst Dan Ives drawing a comparison of this event to the impact of DeepSeek on Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).



What Happened: Defense Secretary Pete Hegseth reportedly ordered Pentagon leaders to plan for 8% annual budget cuts over the next five years, with the current defense budget at $850 billion.



Ives, in an X post compared this to Nvidia's selloff after DeepSeek grabbed the top spot on Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NASDAQ">AAP</a>) App Store. He said this was "not a headwind," for the stock.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This Palantir sell-off is the bears trying to poke holes yet again in a transformational AI story that is getting stronger by the day. More focus on efficiency for the government between DOGE and DOD budget cuts is bullish for PLTR given where they play in the Beltway &#x1f525;&#x1f3c6;&#x1f402; <a href="https://t.co/JzZfuUUuqa">https://t.co/JzZfuUUuqa</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1892434685973639280?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



PLTR deals with providing access to artificial intelligence targeting tools to the government and military contracts.



Additionally, the company informed the SEC that CEO Alex Karp adopted a new <a href="https://www.benzinga.com/markets/equities/25/02/43837935/palantir-plunges-as-alex-karp-plans-123-billion-stock-sale-jim-cramer-urges-palanteers-to-support-the-stock-right-now-as-pentagon-eyes-defense-cuts">Rule 10b5-1</a> trading plan to sell up to 9.98 million shares by Sept. 12, potentially worth $1.23 billion, replacing a larger previous plan.



See Also: <a href="https://www.benzinga.com/25/02/43841233/carvanas-brain-sebastian-says-ceo-as-he-vows-aggressive-ai-initiatives-to-process-very-deep-data">Carvana&#8217;s Online Chatbot Sebastian &#8216;Represents The Brain We&#8217;re Building,&#8217; Says CEO As Used Car Retailer Posts 50% Sales Growth In Q4</a>



Why It Matters: Ives also argued that the Department of Defense's budget cuts and more focus on efficiency are bullish factors for PLTR. He said PLTR will "GAIN" more share of their allocated budget's dollars.



CNBC&#8217;s Jim Cramer also urged investors to &#8220;support the stock,&#8221; via an X post.



<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">Palantir down more than a half dollar. Time for the Palanteers to come in and support the stock right now.&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1892189664989094037?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Hegseth's <a href="https://www.benzinga.com/25/02/43836832/trump-administration-orders-sweeping-pentagon-cuts-defense-sector-stocks-on-watch">order</a> as reported by the Washington Post mandated that proposed cuts shall be drafted by Feb. 24. It mentioned exemptions on nuclear weapon modernization, missile defense, and certain acquisitions like submarines, drones, and munitions. 



Price Action: PLTR fell 10.08% on Wednesday, contrasting with a slight 0.028% uptick in the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq 100 index.



In premarket on Thursday, PLTR fell 2.9% whereas QQQ was down 0.27%. PLTR remains up 49.04% on a year-to-date basis and 378.89% over a year.



<a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">Benzinga tracks 23 analysts</a> with an average price target of $65.5 for the stock, reflecting a &#8220;sell&#8221; rating. Estimates range widely from $7.5 to $125. Recent ratings from Citigroup, RBC Capital, and UBS average $85, suggesting a potential 22.51% downside.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/PLTR/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="383" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20044100/PLTR-ANR-new-1024x383.png" alt="" class="wp-image-790507" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20044100/PLTR-ANR-new-1024x383.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20044100/PLTR-ANR-new-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20044100/PLTR-ANR-new-768x287.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20044100/PLTR-ANR-new.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43839505/occidental-petroleum-achieves-near-term-debt-reduction-target-7-months-early-in-q4-continuing-this-momentum-management-sets-12-billion-target-for-q1">Warren Buffett&#8217;s Favorite Energy Stock Occidental Petroleum Achieves Near-Term Debt Reduction Target 7 Months Early In Q4: Management Sets $1.2 Billion Target For Q1</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

NVDA

Dan Ives Says Pentagon Budget Cuts Are Positive For Palantir As PLTR Plunges Over 10%: 'Bears Trying To Poke Holes Yet Again'

SpaceX CEO Elon Musk said on Wednesday that making Mars self-sustaining or capable of supporting human life will take somewhere between 25-50 years. It is important to note that SpaceX has yet to make even an attempt to land humans on Mars.



What Happened: Musk has often talked about taking humans to the surface of the red planet.



Last year, he said that the first Starships will&nbsp;<a href="https://www.benzinga.com/news/24/07/39567836/spacex-ceo-elon-musk-picks-terminus-for-mars-first-starship-enabled-city-after-just-4-test-flights" target="_blank" rel="noreferrer noopener">head to Mars in two years</a>&nbsp;once the next Earth-Mars transfer window opens.



The first launches to Mars in 2026, Musk then said, will not have a crew onboard and will be aimed at testing the flight&#8217;s ability to land intact on Mars.



&#8220;If those landings go well, then the first crewed flights to Mars will be in 4 years,&#8221; Musk wrote, pegging the first crewed Starship flights to the neighboring planet for 2028.



Following landing humans on Mars, Musk envisions carrying enough cargo to the planet to enable it to sustain a human settlement. 



&#8220;10 Earth-Mars transfer windows are needed to make Mars self-sustaining, ideally at least 20,&#8221; Musk said on Wednesday, pegging the time required to have a settlement on Mars to &#8220;1/4 to 1/2 century.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">10 Earth-Mars transfer windows are needed to make Mars self-sustaining, ideally at least 20. 1/4 to 1/2 century. <a href="https://t.co/yFbMBJn2pS">https://t.co/yFbMBJn2pS</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1892131542610194443?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



According to the billionaire, humans stand a risk of extinction on Earth due to risks like nuclear war or natural annihilation.



&#8220;Having two planets means that all our eggs are not in one basket. From there, we can extend to other star systems,&#8221; Musk said on Wednesday.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The issue is not finite resources on Earth. There is always some extinction risk due to self-annihilation, such as nuclear war, or natural annihilation, like the asteroid that destroyed the dinosaurs. Having two planets means that all our eggs are not in one basket. From…&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1892118666528846032?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



SpaceX&#8217;s Starship launch vehicle, with which Musk envisions taking humans to Mars, is still in the testing and development phase. 



NASA is eyeing landing humans back on the surface of the Moon after a gap of over 50 years with the help of a custom version of Starship as part of its Artemis program. 



The<a href="https://www.benzinga.com/general/space/25/01/43262125/elon-musks-spacex-launches-in-2025-so-far-12-falcon-9-launches-1-starship-test-flight"> latest flight test of Starship</a> was in January. During the test, the vehicle booster landed back at the launch site after separation from its first stage. The spacecraft, however,&nbsp;<a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed" target="_blank" rel="noreferrer noopener">disintegrated in space during the flight test.</a>&nbsp;The spacecraft was carrying 10 Starlink simulators which were similar in size and weight to the company&#8217;s next-generation Starlink satellites as payload.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43724986/uber-ceo-looks-forward-to-tesla-partnership-for-robotaxis-no-one-wants-to-compete-against-tesla-or-elon" target="_blank" rel="noreferrer noopener">Uber CEO Hints At Potential Tesla Partnership For Robotaxis: ‘No One Wants To Compete Against Tesla Or Elon'</a></li>
</ul>



Photo courtesy: Shutterstock

SPACE

SpaceX CEO Elon Musk Says Making Mars 'Self-Sustaining' Will Take Up To Half A Century, Will Require '10 Earth-Mars Transfer Windows'

Leading cryptocurrencies rose on Wednesday as President Donald Trump reiterated his intention to make the U.S. the "cryptocurrency capital."



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.58%</td><td>$96,689.24</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+2.13%</td><td>$2,716.15</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.90%</td><td>$0.2546</td></tr></tbody></table></figure>



What Happened: Bitcoin sailed above $96,900, while Ethereum reentered the $2,700 zone overnight, amid Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43836911/trump-reiterates-resolve-to-make-us-the-crypto-capital-critic-labels-idea-of-bitcoin-reser">positive remarks about the industry</a> at a Miami conference.&nbsp;



Bitcoin's dominance remained over 60%, while Ethereum cornered a 10% market share.



Cryptocurrency liquidations hit $132.69 million in the last 24 hours, as the rally erased over $75 million in bearish bets.



Interestingly, Bitcoin's Open interest fell 0.28%. A decline in Open Interest, coinciding with a price increase, indicated that shorts were covering their positions.



Bitcoin's Long/Short ratio rose above 1, indicating that the majority of the traders were placing upside bets on the leading cryptocurrency.



Market sentiment flipped from "Fear" to "Neutral," according to the Crypto Fear &amp; Greed Index, suggesting a potential increase in buying pressure.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Story (IP)</td><td>+37.22%</td><td>$2.76</td></tr><tr><td>Sonic (S)</td><td>+19.75%</td><td>$0.7112</td></tr><tr><td>Aptos (APT)</td><td>+14.35%</td><td>$6.42</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.19 trillion, rising by 2.17% in the last 24 hours.



Stocks rallied to new peaks on Wednesday. The S&amp;P 500 gained 0.24% to close at a record high of 6,144.15. The Dow Jones Industrial Average added 71.25 points, or 0.16%, to end at 44,627.59, while the tech-focused Nasdaq Composite gained 0.07% to close at 20,056.25.



Investors parsed the <a href="https://www.benzinga.com/25/02/43829352/fomc-minutes">latest Federal Reserve meeting minutes</a>, with policymakers preferring to "take a careful approach&#8221; before considering further interest rate cuts.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Leading on-chain analytics firm CryptoQuant noted a slowdown in the daily inflows into U.S. spot exchange-traded funds.&nbsp;



"U.S. ETF buys dropped from +$18,000 in early November to -$1,000 today. Bitcoin rallies are unlikely at these levels," the firm stated, pointing to a drop in institutional interest.



<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">ETF activity is slowing. US ETF buys dropped from +18K in early November to -1K today. Bitcoin rallies are unlikely at these levels. <a href="https://t.co/wAxPLY9KSF">pic.twitter.com/wAxPLY9KSF</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1892260963698585629?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Popular cryptocurrency analyst and trader Rekt Capital drew attention to Bitcoin's struggles in retesting $97,700.&nbsp;



The researcher noted that the leading cryptocurrency has successfully held on to the $96,000 zone, showcasing "early signs of a bullish divergence."



<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin hasn&#39;t been able to Daily Close &amp; retest ~$97700 (light blue) which has meant that BTC has needed to find support at the blue trendline again<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> continues to successfully hold the blue diagonal, while showcasing early signs of a Bullish Divergence <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/ZfOTFwR9zy">https://t.co/ZfOTFwR9zy</a> <a href="https://t.co/TkpguSW6BB">pic.twitter.com/TkpguSW6BB</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1892200600688893985?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



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$DOGE

Bitcoin, Ethereum, Dogecoin Gain As Trump Reaffirms Crypto Support: Are Short Sellers Exiting The Market?

Wedbush analyst Dan Ives remains bullish on AI stocks, predicting Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will be the first to reach a $4 trillion market cap, followed by Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), despite concerns over tariffs and <a href="https://in.benzinga.com/markets/25/02/43685601/after-deepseek-shook-wall-street-chinas-baidu-gears-up-for-ai-battle-with-next-gen-ernie-5-0-launch-in-late-2025">rising competition</a> from China's DeepSeek.



What Happened: On Wednesday, Ives took to X, formerly Twitter, and reiterated his bullish stance on AI stocks and shared a link to his appearance on CNBC's Squawk Street.



&#8220;The bears can't see AI in the spreadsheets while in their hibernation caves… we focus on $325 billion of Big Tech Capex fueling this AI Revolution as the tech leaders of the future like Nvidia and Palantir lead tech higher in 2025,&#8221; he posted.



On CNBC's Squawk Street, Ives reiterated his confidence in Nvidia, calling it "a table pounder" and predicting it will reach a $5 trillion market cap in the future.



See Also: <a href="https://www.benzinga.com/markets/25/02/43685791/taiwan-semiconductor-could-be-the-lifeline-intel-needs-as-rumors-swirl-of-a-us-backed-joint-venture">Taiwan Semiconductor Could Be The Lifeline Intel Needs As Rumors Swirl Of A US-Backed Joint Venture</a>



Ives noted a significant 12% to 15% increase in semiconductor demand since October. &#8220;I think it just shows these enterprise use cases are exploding and that is really accelerating demand because no one wants to sort of lose their spot in line,&#8221; he said.



Despite <a href="https://in.benzinga.com/trading-ideas/25/02/43827658/exclusive-apple-nvidia-tesla-or-boeing-which-company-faces-the-biggest-risk-from-trumps-china-tariffs-35-say-this-stock">concerns over tariffs</a> and valuation worries, Ives remains optimistic about the tech sector&#8217;s growth, predicting a 25% increase in tech stocks this year.



When asked about AI adoption in enterprise software, Ives pointed to Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) as the "golden child" of AI-driven monetization.



Ives also <a href="https://www.benzinga.com/news/25/01/43350126/dan-ives-says-chinese-startup-deepseeks-6-million-ai-development-assertion-is-likely-a-fictional-sto">dismissed concerns</a> of China's DeepSeek R1 model undercutting U.S. firms. "From a DeepSeek perspective, 45-50 enterprises—not one has changed plans," he noted.



On Apple, Ives said, "The first one to hit $4 trillion will be Apple in our opinion, followed by Nvidia." He attributed this to Apple&#8217;s strategic focus on emerging markets and its partnership with Alibaba in China.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The bears can't see AI in the spreadsheets while in their hibernation caves &#x1f43b;…we focus on $325 billion of Big Tech Capex fueling this AI Revolution as the tech leaders of the future like Nvidia and Palantir and Mag 7 lead tech higher in 2025&#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f30e; <a href="https://twitter.com/SquawkStreet?ref_src=twsrc%5Etfw">@SquawkStreet</a> <a href="https://t.co/k3ML6YdTjW">https://t.co/k3ML6YdTjW</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1892308017875505372?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Major tech companies are heavily investing in artificial intelligence. Companies like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and 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>) are expected to <a href="https://in.benzinga.com/trading-ideas/long-ideas/25/02/43564458/big-techs-2025-ai-bill-is-320-billion-and-counting-can-investors-stomach-it">spend a record $320 billion</a> on AI infrastructure by 2025, up from $246 billion in 2024.



Nvidia is expected to report its fiscal <a href="https://www.benzinga.com/markets/equities/25/02/43655881/nvidia-a-strong-buy-with-42-upside-says-analyst-predicting-positive-report-and-outlook-ahead-of-earnings">fourth-quarter earnings</a> on Thursday, Feb. 26 following the market close.



Price Action: Nvidia's stock declined 0.17% in after-hours trading to $139, following a 0.12% drop earlier on Wednesday, closing at $139.23, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>. Apple's stock dipped 0.029% after hours to $244.80, after gaining 0.16% during regular trading, closing at $244.87.



Photo Courtesy: Shutterstock.com



Read Next:



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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

Top Analyst Predicts Apple Will Hit $4 Trillion First Followed By Nvidia — Says AI Demand Is 'Exploding' Despite Tariffs And DeepSeek Fears: 'The Bears Can't See AI In The Spreadsheets...'

President Donald Trump warned Ukrainian President Volodymyr Zelenskyy on Wednesday to swiftly negotiate an end to Russia's invasion or face <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">losing his country entirely</a>. &#8220;Zelenskyy better move fast or he is not going to have a Country left,&#8221; Trump said. 



In a Truth Social <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">post</a>, Trump labeled Zelenskyy a "dictator without elections," accusing him of misusing $183 billion in U.S. aid—per the U.S. special inspector general—and dragging America into an unwinnable war. Trump, arriving in Miami after talks with Saudi business leaders, aims to settle the conflict on terms Kyiv deems pro-Moscow.



Zelenskyy fired back, claiming Trump is swayed by Russian disinformation. Sen. Chuck Schumer (D-N.Y.) blasted Trump for siding with "thug" Russian President Vladimir Putin, while even Sen. John Kennedy (R-La.), rejected Trump's claim that Ukraine started the war Russia launched in 2022, according <a href="https://apnews.com/article/trump-zelenskyy-ukraine-russia-war-7d18400b935166773bbd3b3323c8aa5f#">to</a> Associated Press.



Trump's push coincides with U.S.-Russia talks in Saudi Arabia, excluding Ukraine.



Read Next: 



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<li><a href="https://www.benzinga.com/25/02/43829352/fomc-minutes">Fed Minutes Reveal Officials See &#8216;High Degree Of Uncertainty&#8217; Requiring &#8216;A Careful Approach&#8217; On Rate Cuts</a></li>
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Image Via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Warns Zelenskyy To Quickly Negotiate War's End With Russia Or Risk Losing Ukraine

Carvana Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) reported fourth-quarter financial results after the market close on Wednesday. Here&#8217;s a look at the key metrics <a href="https://www.benzinga.com/pressreleases/25/02/b43830073/carvana-announces-record-fourth-quarter-and-full-year-2024-results">from the quarter</a>.



Q4 Earnings: Carvana reported fourth-quarter revenue of $3.55 billion, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $3.31 billion. The used car retailer reported fourth-quarter earnings of 56 cents per share, beating analyst estimates of 21 cents per share, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 46% year-over-year. Carvana sold 114,379 vehicles in the fourth quarter, up 50% year-over-year. Net income totaled $159 million and net income margin came in at 4.5% in the fourth quarter. 



&#8220;In 2024, Carvana became the most profitable public automotive retailer in U.S. history as measured by Adjusted EBITDA margin while also resuming industry-leading growth,&#8221; said Ernie Garcia, co-founder and CEO of Carvana.



&#8220;This unique combination is the product of more than&nbsp;$10 billion, 10 years, and tens of millions of hours of hard work invested to develop a truly differentiated business model that delivers both better customer experiences and better results. With just ~1%&nbsp;market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars.&#8221;



See Also: <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">Apple Unveils iPhone 16e With A18 Chip, AI Features, $599 Price Tag</a>



Outlook:&nbsp;Carvana said it expects a sequential increase in retail units sold and adjusted EBITDA in the first quarter. The company also said it expects &#8220;significant growth&#8221; in both retail units sold and adjusted EBITDA in full-year 2025.



Carvana executives will further discuss the quarter on a conference call with investors and analysts at 5:30 p.m. ET.



CVNA Price Action: <a href="https://www.benzinga.com/quote/CVNA" target="_blank" rel="noreferrer noopener">Carvana shares</a> were up nearly 40% year-to-date heading into the print. The stock was down 6.8% after hours, trading at $262.90 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Photo: Shutterstock.

Carvana Stock Hits The Brakes Following Q4 Earnings: Revenue Beat, EPS Beat, Upbeat Guidance — 'This Is Just The Beginning'

Minutes from the January Federal Open Market Committee (FOMC) meeting released Wednesday showed many of the Federal Reserve's policymakers stressed the need for additional evidence that inflation was cooling before any further interest rate cuts<a href="https://www.benzinga.com/general/market-summary/25/02/43821214/trump-calls-for-more-tariffs-federal-reserve-minutes-on-deck-whats-driving-markets-wednesday"> could be considered.&nbsp;</a>



The Details: The January meeting's minutes revealed that all of the Fed&#8217;s policymakers supported keeping its key rate steady at the 4.25% to 4.5% range. Officials noted a "high degree of uncertainty" that requires the Fed to "take a careful approach" in considering any further changes to its key interest rate.



Several Fed meeting participants highlighted President Donald Trump's proposed tariffs and immigration policies, strong household spending, and geopolitical risks as factors that led to the large degree of uncertainty surrounding the rate of inflation in the near term. 



Read Next: <a href="https://www.benzinga.com/25/02/43703014/robert-f-kennedy-confirmed-as-trump-secretary-of-health">Robert F. Kennedy, Vaccine Skeptic, Confirmed As Trump&#8217;s Secretary Of Health: Health Care Stocks To Watch</a>



However, there was some back-and-forth between policymakers, with some suggesting the Committee could keep the policy rate at a restrictive level if inflation remained elevated and others noting policy could be eased more quickly if economic conditions warranted or inflation returned to 2%. 



Markets React: Market-implied probabilities via CME FedWatch were unchanged following the release of the FOMC minutes, assigning a 97.5% chance of the Fed holding rates unchanged at its March meeting, and the remaining 2.5% odds pointing to a cut in interest rates.



Major U.S. indices are mixed in late trading Wednesday with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, up 0.16% at $612.48 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100 index, down 0.06% at $539.06 at the time of publication.&nbsp;



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Photo by MDart10 on Shutterstock.

Fed Minutes Reveal Officials See 'High Degree Of Uncertainty' Requiring 'A Careful Approach' On Rate Cuts

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