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HF Sinclair

HF Sinclair is an integrated petroleum refiner that owns and operates seven refineries serving the Rockies, midcontinent, Southwest, and Pacific Northwest, with a total crude oil throughput capacity of 678,000 barrels per day. It can produce 380 million gallons of renewable diesel annually. It holds a marketing business with over 300 distributors and 1,500 wholesale branded sites across 30 states. It also owns and operates 4,400 miles of petroleum product pipelines and terminals principally in the southwestern United States.

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ARGX

argenx SE Receives FDA Approval Of VYVGART Hytrulo Prefilled Syringe For Self-Injection In Generalized Myasthenia Gravis And Chronic Inflammatory Demyelinating Polyneuropathy

Stocks staged a ferocious <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44720903/nasdaq-100-eyes-strongest-day-since-2008-as-magnificent-seven-add-15-trillion-in-historic-market-rally">rally</a> on Wednesday after President Donald Trump <a href="https://www.benzinga.com/25/04/44729384/trump-pauses-tariffs-after-yields-surge-bond-vigilantes-hit-another-homerun-experts-point-to-bond-market-panic-for-reversal">reversed his ‘reciprocal' tariff policy</a> in response to plummeting markets and alarming bond market activity. 
While most countries are now exempt from the steepest import taxes, a 10% flat tariff remains in effect, and the tariffs on China have increased to 145%.
However, bond yields remain high, and stocks remain significantly below the all-time highs set in February, then fell again on Wednesday. Uncertainty continues to dominate the markets, and the risk of recession remains elevated.
It&#8217;s a great time to invest in dividends rather than capital gains. You can do that while still investing in tech stocks.
Here are five great tech stocks paying huge dividends.
Now, tech stocks aren't usually considered dividend payers, but there are a few with relatively sturdy payouts that investors can use to ride out this storm of uncertainty.
Today, we've compiled a list of four tech companies that have been raising their dividend payouts for at least 10 years. Each company has a dividend yield of at least 2%, a manageable payout rate, fair valuation, and a path to avoiding the most stringent tariffs currently being levied on China.
<h2 class="wp-block-heading">Avnet Inc.&nbsp;</h2>
Avnet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) is a distributor of electronic components, including semiconductors, active and passive components, and other electromechanical parts, as well as design solutions and technical training. The company operates on every continent except Antarctica and is the largest chip distributor in Europe. Avnet's vast market reach should help it avoid the worst of the tariffs, and its valuation looks appealing following a rough showing in 2024.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcmcfLl3ZsWWHoGtw6seHhwWx95e7BOQptusKU6TvTEPpdOGv-20E1IHbachpysrHEXFOZ-p49dyxIX1H8kAmlmUaMxLnRWNPylAaClRBflOb2ddtsMzixfSGXQB60-0pBxMRyz?key=2e8fRf9pKK3lM-HifJLKLjPq" alt="" /></figure>
AVT shares are still underwater for 2025, but the stock trades at just 8.3 times forward earnings with a 0.18 Price-to-Sales (P/S) ratio. The dividend yield is currently 3.17%, and the payout rate is just 37%. Avnet has raised its annual dividend payout for 12 consecutive years and the 12% annualized growth rate over the last three years. The stock also has a 91.81 Value score from Benzinga Edge ratings, indicating a potentially undervalued company with a steady dividend.
<h2 class="wp-block-heading">Cisco Systems</h2>
Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) was the poster child of the dot-com bubble excess as its market cap rose above $500 billion by the turn of the millennium &#8211; a number it's never come close to reaching in the two-plus decades since. It's also been 25 years since the stock made a new all-time high over $77 per share (split-adjusted), although it came close in January this year when shares topped $66. Cisco will never dominate the tech landscape like it did during the dot-com years, but that doesn't mean it&#8217;s still an uninvestable company.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe5fyzjG6ZB1JA5EMH2BVYHKTjMKC4q4JXlzZ3QaOcIdU6E-qoe_28yCwg-P_QCmTOtPBSwPtFXGwUhEgSqtP_SwP43WBoa5sUMgEQbFuuLowQNwHAyiQ_PRzm95261khbqW2tIXA?key=2e8fRf9pKK3lM-HifJLKLjPq" alt="" /></figure>
Cisco currently yields 3.08% with a 12-year history of raising annual payouts. The dividend payout rate (DPR) is relatively high at 71%, but it&#8217;s still sustainable for a company that sells as much high-margin software as Cisco. The company posted more than $54 billion in sales in the last 12 months but still trades at just 14.6 times forward earnings.
With a focus on cybersecurity software over hardware, the company should be minimally impacted by the China tariffs. Analysts have a consensus Buy rating on the stock with an average price target of $63.43, including an $80 price target from Rosenblatt issued on February 13.
<h2 class="wp-block-heading">Qualcomm Inc.&nbsp;</h2>
Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) is an example of a remarkable turnaround story in the market. Like Cisco, Qualcomm was a dot-com darling that rose to unsustainable heights during the bubble. Once the bubble popped in late 2000, Qualcomm shares plummeted and continued making new lows until the great financial crisis in November 2008. However, the stock rallied in the decade following the GFC and finally topped its dot-com bubble high in early 2019.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc8M0O3izmpY0oKP52vW_Zmz8ljLYJGnyPblxrxL1wCSPo-UmEhwolQsyR5FlAdJehJ9CtZ7sYl7wEhwv_aha7Z66xu_7XO7ioj7rRMJejhIhXA_223nVSvzV5Jz4NyCJCRd6Kp?key=2e8fRf9pKK3lM-HifJLKLjPq" alt="" /></figure>
Qualcomm's focus is on the development and licensing of wireless tech and chips for smartphones. Qualcomm products can be found in nearly every wireless device, and it does more than $40 billion in annual sales. QCOM shares also have a strong and steady dividend, yielding 2.73% with a manageable 36% payout rate. The company has a 22-year history of dividend increases, including a 7% annualized growth rate over the last three years. An affordable valuation backs the dividend; the stock trades at just 11.7 times forward earnings with impressive margins (26% profit margin in the most recent quarter).
Analysts are also bullish, with a $195 average price target indicating an upside potential of 35%. Benzinga Edge also gives Qualcomm a 91.82 Value score, the highest of today's selections.
<h2 class="wp-block-heading">CSG Systems International Inc.&nbsp;</h2>
Our smallest and least known company of the day might hold the most promise. CSG Systems International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGS#NASDAQ">CSGS</a>) runs a software-as-a-service (SaaS) platform specializing in financial management and customer experience solutions. The company aims to help firms in the communications sector optimize their digital footprint while effectively managing revenue, licensing, and infrastructure. CSG Systems has been publicly traded for nearly 30 years but has just a $1.73 billion market cap and does $1.2 billion in annual sales. The company has solid margins (47% gross margin last quarter) and trades at just 12 times forward earnings.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfO3fvRSZ0Hspa09BnDdqv3XMwLZ__tfsZtMRv6E7cFzlwqla3nOJqjUrmNjceyHCfBqEhPmcDw2OWeps75UEMUXpE9neBnEOgRE-rwnrElVSw2TmcZhBezalvDUEZLlz3NJE8Axg?key=2e8fRf9pKK3lM-HifJLKLjPq" alt="" /></figure>
Small and mid-cap companies are usually known for substantial dividends, but CSG Systems is an exception. The stock currently yields 2.13% and has a healthy 42% dividend payout rate. Despite its relatively small stature, CSGS has raised its annual payout for 12 consecutive years with a 6.3% annualized growth rate over the last three.
Unlike the rest of the market, CSGS shares are still positive year-to-date, including an impressive 17% gain over the last three months. Even during the worst of the tariff tantrum, the stock only dropped from $61 to $56 before rebounding back above $60 when the tariffs were withdrawn. This stability during the madness is likely why CSGS scored a 90.51 Momentum ranking from Benzinga Edge &#8211; shareholders barely noticed the disturbance!
<h2 class="wp-block-heading">3 New Trade Ideas For Monday</h2>
You can get special access to a deep-dive analysis into the upcoming week and events that could drive the markets and three trade ideas you can take advantage of as early as opening bell. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2">HERE</a> now to ensure you don't miss another round of trades.
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Opinion

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CSGS

QCOM

5 Tech Stocks With Surprisingly Strong Dividends

Retractable Technologies Reduces Its Workforce By ~ 7%. The Reduction Is Expected To Save An Estimated $1.6M In Annual Wages And Benefits, Or Approximately 7.8% Of Total Estimated Workforce Costs

KEYS

Keysight Technologie Announces The Pricing Of An Underwritten, Registered Public Offering Of Its Senior Unsecured Fixed Rate Notes In An Aggregate Principal Amount Of $750M

PAVS

Paranovus Entertainment Technology Receives Letter From Nasdaq Regarding Late Filing Of Form 6-K Reporting Interim Financial Information

On Thursday, BofA Securities analyst Christopher Nardone upgraded Levi Strauss &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) <a target="_blank" href="https://www.benzinga.com/quote/LEVI/analyst-ratings" rel="noreferrer noopener">from Neutral to Buy rating</a> and raised the price forecast from $17.00 to $20.00.
The analyst cited the stock's 38% drop from last year as a compelling entry point and highlighted Levi's strong sales trends, conservative revenue guidance, low exposure to China, and improving wholesale performance.
With a solid balance sheet and diversified supply chain, the analyst raised the price forecast, applying an 8x multiple on fiscal 2026 EV/EBITDA.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44703031/this-beverage-maker-tobacco-company-and-packaged-food-giant-outshine-in-a-recession" rel="noreferrer noopener">This Beverage Maker, Tobacco Company And Packaged Food Giant Outshine In A Recession</a>
The analyst views LEVI as a standout brand in uncertain times, thanks to its growing global appeal and dominant position in the denim market.
The company is expanding beyond denim into categories like dresses, skirts, and outerwear, aiming to increase its reach in women's apparel.
A partnership with Beyoncé continues to fuel brand buzz, while strong direct-to-consumer trends in key regions suggest global market share gains.
LEVI delivered a <a target="_blank" href="https://www.benzinga.com/news/earnings/25/04/44674732/levi-strauss-shares-rise-after-mixed-q1-results-details" rel="noreferrer noopener">strong fiscal first quarter</a>, with solid holiday sales driving improved revenue and margins. Net organic sales excluding FX, Denizen, footwear, and extra weeks rose 9%, though growth tapered as the quarter progressed.
Management reiterated its 3–4% annual growth outlook, which the analyst views as cautious. Encouragingly, March trends rebounded, and the margin trajectory appears well-positioned against peers forecasting stronger second-half recoveries.
LEVI's wholesale segment is showing positive momentum, with two straight quarters of U.S. growth. In Europe, first-quarter wholesale declined due to distribution center transitions, but order book strength suggests a return to growth in the second quarter.
LEVI is temporarily benefiting from a 90-day tariff reprieve, but the company appears resilient if trade tensions flare again, the analyst observed.
With limited exposure to China in its production and just 40% of sales tied to the U.S., LEVI is insulated from significant disruption.
LEVI's strong balance sheet is a key advantage amid economic uncertainty. With net leverage at just 0.2x, the company is in a far better position than many peers.
This financial flexibility allows LEVI to maintain dividends, continue share buybacks, and reinvest in growth positioning it well should macro conditions worsen, said the analyst.
Price Action: LEVI shares closed lower by 2.75% to $14.52 on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44734345/why-home-furnishing-brand-lovesacs-stock-is-surging-today" target="_blank" rel="noreferrer noopener">Why Is Home Furnishing Brand Lovesac's Stock Surging Today?</a></li>
</ul>
Photo by DJSully via Shutterstock

Analyst Color

Upgrades

Price Target

Analyst Ratings

Movers

LEVI

Beyoncé Partnership, Strong Sales And Low China Exposure - Analyst Upgrades Levi Strauss To Buy

At the 2025 Manila International Auto Show, VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) officially <a target="_blank" href="https://www.media-outreach.com/news/philippines/2025/04/10/374614/vinfast-launches-vf-6-b-suv-and-introduces-free-ev-charging-program-in-the-philippines/" rel="noreferrer noopener">launched </a>the VF 6, its newest B-segment electric SUV, in the Philippines.
The VF 6 comes in two trims—Eco and Plus—priced at PHP 1,419,000 ($24,751) and PHP 1,610,000 ($28,074). Deliveries of the Eco variant will begin in May 2025.
Pham Sanh Chau, CEO of VinFast Asia,&nbsp;said, "We hope it will replicate its segment-leading success in Vietnam and receive the same enthusiastic response as seen in the European market."
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44738776/versace-goes-prada-capris-big-exit-sparks-fashion-power-shift" rel="noreferrer noopener">Versace Goes Prada: Capri's Big Exit Sparks Fashion Power Shift</a>
As part of its green mobility push, VinFast introduced a free EV charging program via the V-GREEN network, valid until May 1, 2027. The company plans to roll out 15,000 charging ports nationwide this year, ensuring accessible charging infrastructure for all users.
"Together with VinFast and our local partners, we're working toward a greener and more sustainable transportation future for Filipino communities," said Nguyen Thanh Duong, CEO of V-GREEN.
VinFast is also offering an attractive buyback program covering up to 90% of the vehicle's original value, along with a 7-year/160,000 km warranty. In addition, the brand is working with partners like Motech and JIGA to establish 100 authorized service centers by year-end.
As part of its strategy for the Indian market, VinFast has already commenced construction of its manufacturing facility in Tamil Nadu, per a <a target="_blank" href="https://auto.economictimes.indiatimes.com/news/passenger-vehicle/vinfast-eyes-indias-growing-ev-market-with-vf6-premium-suv/120120346" rel="noreferrer noopener">report </a>by ET Auto.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, VFS stock has lost over 27% in the past year.
Price Action: VFS shares closed at $2.92 on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44731044/jim-cramer-says-pre-market-slide-driven-by-profit-takers-shorts-are-trying-to-figure-whether-to-operate-on-nvidia-avgo-aapl" target="_blank" rel="noreferrer noopener">Jim Cramer Says Pre-Market Slide Driven By Profit-Takers: ‘Shorts Are Trying To Figure Whether To Operate On Nvidia, AVGO, AAPL'</a></li>
</ul>
Photo by VanderWolf Images on Shutterstock

Equities

Markets

What's Going On With VinFast Auto Stock On Thursday?

ServiceNow, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) is one of the weaker performers in Goldman Sachs analyst <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58c6ab8db85e9300015f1ae0/kash-rangan">Kash Rangan&#8217;s coverage group</a>.
Rangan maintained a Buy rating on the company and lowered his <a href="https://www.benzinga.com/quote/NOW/analyst-ratings" target="_blank" rel="noreferrer noopener">price target to $1,050 ($1,200 prior) on Thursday</a>.
ServiceNow has been one of the weaker performers in Rangan&#8217;s coverage group year-to-date (-22% versus coverage average -14%) as investors grapple with sub-20% fiscal 2025 guidance, the potential rationalization of PubSec IT spending, and knock-on effects from tariff policy volatility. 
Regarding the fiscal first quarter, the analyst noted ServiceNow could deliver +20.2% CC Subscription Revenue growth (modestly above guidance for +19.5% to +20%) and CC cRPO growth in line with guidance (+20.5%).
Also Read: <a href="https://www.benzinga.com/25/03/44218665/servicenow-eyes-3-billion-ai-deal-targets-boost-from-moveworks-chatbot-tech" target="_blank" rel="noreferrer noopener">ServiceNow Eyes $3 Billion AI Deal, Targets Boost From Moveworks Chatbot Tech</a>
While fiscal first-quarter guidance likely contemplated ongoing PubSec dynamics and closed before any tariff-related announcements, Rangan noted there may be some risk to fiscal second-quarter and fiscal 2025 guidance.
The analyst noted ServiceNow&#8217;s potential to modestly reduce growth expectations in response to predominantly tariffs and PubSec-related demand volatility (though the 90-day tariff pause adds further complexity).
However, with ServiceNow -29% off all-time highs (and at 33x EV/FCF calendar 2026), Rangan noted the stock provides an attractive entry point, notwithstanding the turbulent macro period.
ServiceNow is the standard for selling on customer value, amplified by its expanding AI portfolio (AI ACV &gt;$200 million) and recent Moveworks acquisition. It has consistently supported a growing share of IT budgets.
Furthermore, ServiceNow offers a strong and expanding free cash flow margin profile (&gt;30%) and maintains a solid balance sheet, meeting the key characteristics of a defensive software asset while still providing a bend toward high growth at scale.
Rangan noted ServiceNow as a resilient software asset that is facing macro uncertainty. However, while the analyst expects fiscal first-quarter results to largely be shielded from the volatility of recent tariff news, he noted the potential for fiscal second-quarter and fiscal 2025 guidance to be impacted by the evolving macro backdrop. 
Tariff uncertainty will likely cause enterprises to reassess IT budgets, spending priorities, and hiring plans, Rangan notes. 
Even following the announcement of the recent 90-day pause, the potential for ServiceNow to reduce forward expectations for revenue and cRPO growth modestly, he adds. Expect some enterprises to be more reluctant to sign large, transformational software deals in the interim, given a lack of clarity around what shape tariff policy will take.
The analyst noted that ServiceNow provides an attractive entry point, notwithstanding the turbulent macro environment. ServiceNow is the standard for selling on customer value, with clear ROI and efficiency gains, all of which are amplified by its growing AI portfolio.
Rangan projected first-quarter revenue of $3.09 billion and adjusted EPS of $3.93.
Price Action: NOW stock is down 5.19% at $783.49 by Thursday&#8217;s close.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44674813/if-tariffs-shift-customer-spending-priorities-these-software-stocks-could-face-slow-growth" target="_blank" rel="noreferrer noopener">If Tariffs Shift Customer Spending Priorities, These Software Stocks Could Face Slow Growth</a></li>
</ul>

Reiteration

ServiceNow Backed By AI, Strong Cash Flow Despite Tariff Uncertainty: Analyst

TRGP

Targa Resources Declares An Increase To Its Quarterly Cash Dividend To $1.00 Per Common Share For Q1 2025

Several stocks in the health care technology space are moving higher after the market close on Thursday after the U.S. Food and Drug Administration (FDA) announced plans to <a href="https://www.benzinga.com/fda-calendar">phase out animal testing requirements</a>.
What Happened: The FDA on Thursday announced plans to replace&nbsp;animal testing in the development of monoclonal antibody therapies and other drugs with human-relevant methods.
The FDA said it will phase out animal testing requirements in favor of AI-based computational models of toxicity and cell lines and organoid toxicity testing. Implementation is expected to begin immediately.
Health care tech and AI-powered biotech stocks making the biggest moves after the bell include Certara Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERT#NASDAQ">CERT</a>), Schrodinger Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDGR#NASDAQ">SDGR</a>), Simulations Plus Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>), Recursion Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) and Absci Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABSI#NASDAQ">ABSI</a>). All of the aforementioned names were up between 15% and 25% in Thursday&#8217;s after-hours session at the time of writing, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
&#8220;This initiative marks a paradigm shift in drug evaluation and holds promise to accelerate cures and meaningful treatments for Americans while reducing animal use,&#8221; said Martin Makary, commissioner of the FDA.
&#8220;By leveraging AI-based computational modeling, human organ model-based lab testing and real-world human data, we can get safer treatments to patients faster and more reliably, while also reducing R&amp;D costs and drug prices.&#8221;
The policy changes will help improve the overall process by introducing advanced computer simulations, human-based lab models and regulatory incentives. The change is also expected to result in faster drug development. 
Read Next:
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</ul>
Photo: Tada Images/Shutterstock.

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Health Care

After-Hours Center

ABSI

CERT

RXRX

SDGR

Health Care Technology Stocks Surge After FDA Announces Plans To Phase Out Animal Testing Requirements

Rosenblatt Securities analyst Steve Frankel <a href="https://www.benzinga.com/quote/IMAX/analyst-ratings" target="_blank" rel="noopener">reiterated a Buy rating</a> on the shares of IMAX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) on Wednesday, with a price forecast of $35.00.
Ahead of IMAX&#8217;s upcoming first-quarter earnings report, the analyst has raised the forecasts to better align with consensus, citing strong box office performance. 
Despite concerns about potential <a href="https://www.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted" target="_blank" rel="noopener">Chinese restrictions on Hollywood films</a>, IMAX&#8217;s first-quarter global box office hit $280 million, far surpassing previous projections of $230 million. This was thanks to the massive success of Ne Zha 2, which grossed $2.145 billion globally, with $2.09 billion from China alone.
The film generated $162.6 million for IMAX, ranking among the company's top six highest-grossing titles and top three by ticket admissions.
Regionally, first-quarter box office figures showed a mixed picture: North America declined 46% year over year to $51 million, while Greater China surged 135% to $167 million. The rest of the world dropped 35% to $62 million.
Reflecting these results, the first-quarter earnings estimates are revised up to $82.7 million in revenue and $24.3 million in earnings, approaching the consensus of $83.5 million and $28.5 million. The updated full-year estimates of $420.0 million/$164.1 million compare to a consensus of $405.9 million/$156.3 million.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44703031/this-beverage-maker-tobacco-company-and-packaged-food-giant-outshine-in-a-recession">This Beverage Maker, Tobacco Company And Packaged Food Giant Outshine In A Recession</a>
IMAX shares declined earlier in the week following reports suggesting China might limit Hollywood film imports amid ongoing trade tensions. However, there has been no official confirmation or coverage from major Chinese media outlets.
Given the importance of moviegoing to China's broader economic sectors, such as retail and real estate, the analyst doubts the government would take actions that could harm the exhibition industry.
If China limits Hollywood film imports, IMAX can pivot by showcasing more domestic films and proven alternatives like Japanese anime, which have performed well in the market. 
The second quarter has started strong, with A Minecraft Movie surpassing expectations globally, noted Frankel.
With six Filmed for IMAX titles scheduled this quarter, including Thunderbolts and Mission Impossible: The Final Reckoning, the company is positioned for potential upside beyond its $265 million global box office estimate.
The shift toward premium movie formats is also boosting IMAX's business. The company revealed key expansion deals, including <a href="https://www.benzinga.com/news/contracts/25/04/44603254/amc-expands-premium-movie-experience-with-imax-laser-upgrades-in-landmark-deal">AMC's plan to install 12 new IMAX with Laser screens</a> and upgrade 68 existing ones.
IMAX recently expanded its partnership with TOHO Cinemas, adding six new IMAX with Laser locations in Japan, one of IMAX's strongest markets by per-screen revenue. This includes the first dual-IMAX complex outside North America, reflecting growing demand for diverse content.
Frankel observed that IMAX is benefiting from a blockbuster-heavy 2025–2026 slate, tighter cost control (especially in China), and stronger partnerships with studios and streamers.
Price Action: IMAX shares traded lower by 4.51% at $22.43 at last check Thursday. 
Read Next: <a href="https://www.benzinga.com/25/04/44734345/why-home-furnishing-brand-lovesacs-stock-is-surging-today">Why Is Home Furnishing Brand Lovesac&#8217;s Stock Surging Today?</a>
Photo: Shutterstock

Entertainment

IMAX

Strong Slate, Premium Push Fuel IMAX Forecast Upgrades, Says Analyst

Mike Ippolito, co-founder of the financial media company Blockworks, summarized his view on tariffs as a "decades-long psyop" of the American middle class that led to populist blow-back and tariffs as a way to return blue-collar manufacturing jobs<a href="https://www.benzinga.com/government/regulations/25/04/44748635/stocks-bounce-off-session-lows-after-trump-says-china-deal-is-going-to-work-out"> to the United States.&nbsp;</a>
What To Know: Ippolito posted a short video clip from the "Bell Curve" podcast where he laid out his views on the motivation behind the Trump administration's aggressive trade policies: The tariffs are intended to appease the middle-class, ‘Main Street'&nbsp; voter base with promises of returning manufacturing jobs to Americans.&nbsp;
Read Next: <a href="https://www.benzinga.com/25/04/44695907/elon-musk-calls-trump-trade-advisor-peter-navarro-dumber-than-sack-of-bricks-defends-tesla-as-the-most-american-made-cars">Elon Musk Calls Trump Trade Advisor Peter Navarro &#8216;Dumber Than Sack Of Bricks,&#8217; Defends Tesla As &#8216;Most American-Made Cars&#8217; </a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is my view on tariffs in ~40 seconds <a href="https://t.co/6atD5S2JaB">https://t.co/6atD5S2JaB</a>
&mdash; Mippo &#x1f7ea; (@MikeIppolito_) <a href="https://twitter.com/MikeIppolito_/status/1910379106803343611?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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"A huge problem in America for a very long time is that we were exporting middle-class jobs overseas. And I think there was a decades-long psyop that ‘That's not the case!' … and it was really disproportionately hurting a large portion in voter base in America," Ippolito said.&nbsp;
Middle class workers eventually grew angry with the exportation of industrial and manufacturing jobs and decided they did not like the people and policies that had moved their jobs overseas.&nbsp;&nbsp;
Ippolito said, "You know what? This is what you get. You reap what you sow. You did not solve this problem, you gaslit this huge portion of the population."&nbsp;
The pressure had built up and exploded out in the form of populist policies and tariffs designed to reshore manufacturing and return product manufacturing to the United States in an attempt to please ‘Main Street' American voters.&nbsp;&nbsp;
Ippolito concluded his theory with the idea that Trump's trade policies are intended to move the focus from Wall Street to Main Street.&nbsp; It remains to be seen which "Street," if any, will benefit from the tariffs.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/04/44667862/oil-crashes-to-60-per-barrel-as-recession-fears-grow">Oil Crashes To $60 Per Barrel As Global Recession Fears Grow&nbsp;</a></li>
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Image: Shutterstock

Politics

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Trump's Tariff Policies Stem From 'Decades-Long Psyop,' Crypto Founder Says

Benchmark analyst Mark Miller upgraded Western Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) from Hold to Buy with a <a target="_blank" href="https://www.benzinga.com/quote/WDC/analyst-ratings" rel="noreferrer noopener">$55&nbsp;price target Thursday</a>.
Investor&#8217;s concern over tariffs has produced compelling valuations for some tech hardware stocks.
In Benchmark&#8217;s 26 years of coverage, the forward valuations of hard drive stocks have typically ranged from mid-single digits to teen multiples.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/43065734/western-digital-poised-for-long-term-growth-despite-short-term-nand-pressures-analysts-say" rel="noreferrer noopener">Western Digital Faces &#8216;Challenging Pricing Environment,&#8217; But There&#8217;s Long-Term Potential: Analysts</a>
Western Digital stock is trading at the low end of this historic range. Miller deemed the stock attractive, backed by its valuation, expected double-digit growth in data center spending by the major hyperscalers, the AI opportunity, and lower expected interest expense.
In a recent survey, nearly two-thirds of respondents from companies that use cloud as their leading storage medium expect their cloud-based storage to grow by more than 100% over the next three years.
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>), 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>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will likely increase their combined capital expenditure by 40%, from roughly $230 billion in 2024 to $322 billion in 2025.
According to estimates, close to 89% of data stored by leading cloud service providers is stored on hard drives. Last quarter, Western Digital reported a record Nearline Exabytes (EB) shipment and Data Center sale.
Strong data center spending should continue to aid Western Digital&#8217;s stock. Driven by AI, the size of the Global Datasphere will likely rise to 175 zettabytes this year.
Western Digital has several AI opportunities. Due to the lower storage cost on hard drives, a nearline storage HDD has a unit price per GB of $0.013, while large capacity SSDs for servers have a unit price per GB of $0.123, nearly 9.5 times higher than HDDs. SSDs are attractive for both AI learning and generative applications.
AI users believe the adoption of trustworthy AI requires an increased need to store more data for extended periods, which also favors hard drives over flash.
Miller noted that the ramp-up of PCs with AI chips in the second half of 2025 will drive a refresh cycle for PCs.
As a result of Sandisk Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDK#NASDAQ">SNDK</a>) spin-out, Western Digital holds about 24 million SanDisk stock. Miller noted that Western Digital will divest these shares and use the proceeds to pay down debt, saving an estimated $0.15 to $0.20 per diluted share in annual interest expense.&nbsp;&nbsp;
For Western Digital, Miller projected third-quarter revenue of $2.70 billion and EPS of $1.32 (prior $1.12).
Price Action: Western Digital stock closed lower by 3.94% to $34.87 on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44715211/affirm-and-shopify-expand-buy-now-pay-later-to-canada-and-uk-in-global-growth-push" target="_blank" rel="noreferrer noopener">Affirm And Shopify Expand &#8216;Buy Now, Pay Later&#8217; To Canada And UK In Global Growth Push</a></li>
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Photo via Shutterstock

AMZN

GOOG

GOOGL

SNDK

Western Digital Stock Is Attractive, Backed By Cheap Valuation And AI Surge: Analyst

<h3>Gainers</h3>
<ul>
<li>Lion Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGHL#NASDAQ">LGHL</a>) shares increased by 8.3% to $3.25 during Thursday's after-market session. The market value of their outstanding shares is at $77.4 million. </li>
<li>Forge Global Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>) stock increased by 8.25% to $0.62. The market value of their outstanding shares is at $116.1 million. </li>
<li>PaySign (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYS#NASDAQ">PAYS</a>) stock rose 5.52% to $2.1. The market value of their outstanding shares is at $112.8 million. </li>
<li>Prestige Wealth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWM#NASDAQ">PWM</a>) stock rose 4.99% to $0.41. The market value of their outstanding shares is at $12.9 million. </li>
<li>Ryvyl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVYL#NASDAQ">RVYL</a>) stock increased by 4.98% to $0.92. The company's market cap stands at $7.7 million. </li>
<li>AG Mortgage IT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITT#NYSE">MITT</a>) shares rose 4.91% to $6.19. The market value of their outstanding shares is at $183.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Katapult Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KPLT#NASDAQ">KPLT</a>) stock declined by 13.2% to $7.2 during Thursday's after-market session. The market value of their outstanding shares is at $31.6 million. </li>
<li>Bakkt Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>) stock decreased by 5.61% to $8.09. The market value of their outstanding shares is at $52.8 million. </li>
<li>Powell Max (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMAX#NASDAQ">PMAX</a>) stock fell 4.91% to $0.31. The company's market cap stands at $4.5 million. </li>
<li>AGM Group Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGMH#NASDAQ">AGMH</a>) shares decreased by 4.46% to $0.03. The company's market cap stands at $1.2 million. </li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares fell 4.01% to $0.31. The company's market cap stands at $2.6 million. </li>
<li>XChange Tec (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XHG#NASDAQ">XHG</a>) stock fell 4.0% to $0.35. The market value of their outstanding shares is at $144.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-financial-services-stocks/" title="www.benzinga.com/money/best-financial-services-stocks/">www.benzinga.com/money/best-financial-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AGMH

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Bakkt Holdings, Inc. Class A Common Stock

BKKT

FRGE

KPLT

LGHL

MITT

PAYS

PMAX

RVYL

12 Financials Stocks Moving In Thursday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>Fly-E Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYE#NASDAQ">FLYE</a>) shares moved upwards by 13.2% to $0.48 during Thursday's after-market session. The company's market cap stands at $11.8 million. </li>
<li>17 Education &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YQ#NASDAQ">YQ</a>) stock moved upwards by 8.74% to $1.74. The market value of their outstanding shares is at $13.5 million. </li>
<li>Lotus Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOT#NASDAQ">LOT</a>) shares moved upwards by 5.98% to $1.24. The company's market cap stands at $841.0 million. </li>
<li>Wag Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PET#NASDAQ">PET</a>) stock increased by 5.83% to $0.14. The company's market cap stands at $6.8 million. </li>
<li>Color Star Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) shares moved upwards by 5.5% to $0.92. </li>
<li>Greenlane Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares rose 4.99% to $0.27. The market value of their outstanding shares is at $2.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Damon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMN#NASDAQ">DMN</a>) stock fell 31.0% to $0.0 during Thursday's after-market session. </li>
<li>Thunder Power Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIEV#NASDAQ">AIEV</a>) shares declined by 10.94% to $0.14. The market value of their outstanding shares is at $10.0 million. </li>
<li>Phoenix Motor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEV#NASDAQ">PEV</a>) shares declined by 10.12% to $0.31. The company's market cap stands at $14.2 million. </li>
<li>Top Win International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOPW#NASDAQ">TOPW</a>) shares fell 6.87% to $2.17. The company's market cap stands at $53.9 million. </li>
<li>Boqii Holding (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BQ#AMEX">BQ</a>) stock fell 6.09% to $1.82. The market value of their outstanding shares is at $8.5 million. </li>
<li>Newegg Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) stock fell 5.13% to $3.61. The market value of their outstanding shares is at $70.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Consumer Discretionary Stocks Moving In Thursday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>Venus Concept (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) shares moved upwards by 36.7% to $5.55 during Thursday's after-market session. The company's market cap stands at $3.6 million. </li>
<li>Creative Medical Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELZ#NASDAQ">CELZ</a>) shares moved upwards by 31.03% to $2.36. The company's market cap stands at $5.9 million. </li>
<li>Organovo Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONVO#NASDAQ">ONVO</a>) shares rose 30.27% to $2.84. The company's market cap stands at $5.1 million. </li>
<li>Certara (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERT#NASDAQ">CERT</a>) stock moved upwards by 26.67% to $13.44. The company's market cap stands at $2.1 billion. </li>
<li>Simulations Plus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLP#NASDAQ">SLP</a>) stock moved upwards by 24.7% to $32.1. The company's market cap stands at $645.5 million. </li>
<li>Recursion Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) stock rose 20.61% to $5.44. The company's market cap stands at $2.1 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Inotiv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOTV#NASDAQ">NOTV</a>) stock fell 27.0% to $1.03 during Thursday's after-market session. The company's market cap stands at $34.7 million. </li>
<li>Palatin Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PTN#AMEX">PTN</a>) shares fell 26.34% to $0.31. The company's market cap stands at $8.0 million. </li>
<li>Innovative Eyewear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) stock fell 13.77% to $4.29. The market value of their outstanding shares is at $10.5 million. </li>
<li>NewGenIvf Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares fell 13.29% to $0.38. The market value of their outstanding shares is at $2.0 million. </li>
<li>NanoVibronix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAOV#NASDAQ">NAOV</a>) shares declined by 10.86% to $5.75. The market value of their outstanding shares is at $4.3 million. </li>
<li>cbdMD (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) shares declined by 9.72% to $0.25. The market value of their outstanding shares is at $1.5 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CELZ

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12 Health Care Stocks Moving In Thursday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>Taoping (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAOP#NASDAQ">TAOP</a>) shares rose 13.1% to $0.24 during Thursday's after-market session. The company's market cap stands at $3.2 million. </li>
<li>AMTD Digital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) stock increased by 5.61% to $1.88. The company's market cap stands at $590.8 million. </li>
<li>ARB IOT Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) shares increased by 4.99% to $0.63. The company's market cap stands at $16.5 million. </li>
<li>Gryphon Digital Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) shares rose 4.99% to $0.16. The company's market cap stands at $11.0 million. </li>
<li>Pixelworks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXLW#NASDAQ">PXLW</a>) stock rose 4.99% to $0.55. The market value of their outstanding shares is at $34.7 million. </li>
<li>AuthID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUID#NASDAQ">AUID</a>) shares increased by 4.92% to $5.75. The market value of their outstanding shares is at $70.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>BeLive Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLIV#NASDAQ">BLIV</a>) stock fell 12.5% to $3.5 during Thursday's after-market session. The market value of their outstanding shares is at $34.6 million. </li>
<li>Signing Day Sports (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SGN#AMEX">SGN</a>) stock fell 10.67% to $0.8. The company's market cap stands at $1.4 million. </li>
<li>Digital Ally (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGLY#NASDAQ">DGLY</a>) shares decreased by 6.31% to $0.03. </li>
<li>Wellchange Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCT#NASDAQ">WCT</a>) stock fell 5.18% to $0.27. The company's market cap stands at $12.2 million. </li>
<li>Soluna Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) shares declined by 5.03% to $0.47. The market value of their outstanding shares is at $5.0 million. </li>
<li>Maxeon Solar Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) shares decreased by 4.88% to $3.12. The market value of their outstanding shares is at $52.1 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ARBB

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Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

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SLNH

TAOP

12 Information Technology Stocks Moving In Thursday's After-Market Session

In New York's cannabis game, the <a href="https://www.benzinga.com/topic/cannabis-new-york">rules are different</a>. This isn't Illinois or Florida or Pennsylvania, where massive multistate operators often dominate the market and set the pace. Nor is it a rush to grab VC dollars. In New York, ambition means ownership placed directly in the hands of those locked out for decades. Inclusion here isn't a slogan; it's the blueprint, the norm. And few embody this better than Happy Munkey.
The brand, co-founded by Vladimir Bautista and Ramon Reyes, operates licensed dispensaries in Uptown Manhattan and Downtown Brooklyn.
The storefronts are new. The journey goes back years. Happy Munkey existed long before legalization, first as an underground cannabis lounge, then as a lifestyle brand rooted in Latino culture. Now, it's fully legal, fully bilingual and fiercely proud.
This is what equity looks like when the neighborhood builds it.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4-1024x683.jpeg" alt="" class="wp-image-866664" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4-1024x683.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4-300x200.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4-768x512.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4-1536x1024.jpeg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145233/WhatsApp-Image-2025-04-10-at-15.40.44-4.jpeg 1599w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
"Today we want to recognize all the Latino entrepreneurs in our industry here in New York," Bautista told Benzinga. His tone was prideful yet clear and firm &#8211; a statement that demanded attention.
<h2 class="wp-block-heading">Legalization With Purpose</h2>
When New York legalized cannabis in 2021, the state promised to center those who suffered the most during prohibition. Decades of aggressive policing had left Black and Latino communities disproportionately harmed. In 2020 alone, <a href="https://www.amny.com/news/people-of-color-made-up-94-of-marijuana-arrests-by-nypd-in-2020-data-and-legal-aid-says/">NYPD data</a> shows that more than 90% of low-level marijuana arrests targeted Black and Latino New Yorkers. That's the reality New York chose to address head-on.
The state's Office of Cannabis Management introduced the Conditional Adult-Use Retail Dispensary (CAURD) program, explicitly prioritizing people directly impacted by cannabis criminalization. By late 2024, <a href="https://cannabis.ny.gov/system/files/documents/2024/12/ocm-annual-report-2024.pdf">more than half</a> of CAURD licenses had gone to justice-involved entrepreneurs from historically targeted neighborhoods.
Also read: <a href="https://www.benzinga.com/markets/cannabis/25/04/44720917/whos-blocking-cannabis-reform-in-the-senate-marijuana-policy-remains-a-dividing-line-between-democrats-and-republicans">Who&#8217;s Blocking Cannabis Reform In The Senate? Marijuana Policy Still Divides Democrats And Republicans</a>
Happy Munkey was among those first license recipients—not by luck, but by history. Bautista and Reyes had already earned trust, built infrastructure and created community ties. Legalization only confirmed what the streets already knew.
"What's important, my people," Bautista explained, "is that the whole world knows Latinos are succeeding here. We're entrepreneurs. We own our future. And we're proudly raising the Latino flag high."
<h2 class="wp-block-heading">Legacy Market Origins</h2>
In 2017, years before legalization became a reality, Happy Munkey existed underground. It offered private lounges where people gathered without stigma. Events that mixed cannabis, music and art created a genuine sense of belonging. The founders also launched The Happy Munkey Podcast, Munkey TV and Munkey Magazine, platforms normalizing cannabis culture openly.
When New York made legalization official, Happy Munkey simply continued its mission. First, with a dispensary at 151 Dyckman Street in Inwood, the neighborhood where Bautista and Reyes grew up. Soon after, a second location opened at 453 Fulton Street in downtown Brooklyn, near Barclays Center. Both dispensaries are open daily from 10 a.m. to 10 p.m., offering flower, pre-rolls, concentrates, tinctures, edibles and vapes.
But the attraction isn't just products; it's people. The bilingual team moves effortlessly between English and Spanish, welcoming visitors with warmth and familiarity.
"It feels like home," said a first-time customer from Argentina visiting Dyckman. "They speak our language—literally. Entering a dispensary can feel overwhelming. Having someone explain things to me in Spanish made it easy. Easy-peasy."
<h2 class="wp-block-heading">Recognition From Forbes And Beyond</h2>
In 2024, Forbes placed Bautista and Reyes on its annual <a href="https://www.forbes.com/lists/cannabis420/">Cannabis 4:20</a> list, highlighting influential cannabis entrepreneurs across the U.S. Forbes' list focused specifically on independent, smaller brands reshaping the industry without massive corporate backing.
In addition, Happy Munkey received two Clio Awards—in 2023 and 2024—for innovative branding and community-focused storytelling. Still, Bautista emphasizes these accolades aren't the ultimate goal.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="815" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145346/WhatsApp-Image-2025-04-10-at-15.43.45-815x1024.jpeg" alt="" class="wp-image-866666" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145346/WhatsApp-Image-2025-04-10-at-15.43.45-815x1024.jpeg 815w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145346/WhatsApp-Image-2025-04-10-at-15.43.45-239x300.jpeg 239w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145346/WhatsApp-Image-2025-04-10-at-15.43.45-768x964.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145346/WhatsApp-Image-2025-04-10-at-15.43.45.jpeg 860w" sizes="(max-width: 815px) 100vw, 815px" /></figure>
"The genesis of Happy Munkey comes from a desire to provide safe, legal cannabis to the community that's given so much to us," Bautista told <a href="https://cannabisnow.com/munkey-business/">Cannabis Now</a> in a recent interview.
The commitment is clear in the brand's daily operations: hiring locals, educating neighbors, hosting cultural events and advocating for policy change. The spaces it creates resonate with local voices, whether through hip-hop playlists, Latino artwork or casual conversations that make dispensary visits feel familiar and welcoming.
<h2 class="wp-block-heading">No Franchise Dreams, Only Authentic Roots</h2>
Happy Munkey isn't pursuing national scale or rapid expansion. Bautista has compared his vision to TAO Nightclubs: carefully chosen locations built around authentic cultural impact rather than uniform franchises.
This intentional approach has shaped Happy Munkey's unique identity. In a city <a href="https://www.forbes.com/sites/willyakowicz/2021/03/31/new-york-state-legalizes-adult-use-cannabis/">projected</a> to reach $4.2 billion in cannabis sales by 2027, Happy Munkey stands out—not because it's big, but because it's real.
In New York, where cannabis legalization arrived with the promise of equity, Happy Munkey shows how that promise can become a reality. Built by Latinos from the neighborhoods that prohibition once harmed, the brand's success reflects genuine community ownership.
Cannabis here is personal, and Happy Munkey ensures it remains that way: local, bilingual, and deeply rooted. It's a success story the city desperately needed.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22-1024x683.jpeg" alt="" class="wp-image-866665" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22-1024x683.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22-300x200.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22-768x512.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22-1536x1024.jpeg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10145317/WhatsApp-Image-2025-04-10-at-15.47.22.jpeg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Photo: The partners in Happy Munkey: John Ibonnet, Ramón Reyes, Vladimir Bautista and Omar Ibonnet (L-R).
And it's not alone. Across the five boroughs, other Latino entrepreneurs are carving out their space in the legal market, too:
<ul>
<li>Coss Marte, owner of CONBUD.</li>
<li>Jose Polanco, of Polanco Brothers.</li>
<li>Jeremy Rivera, running Terp Bros.</li>
<li>Gabe Encarnación, founder of Glena &amp; Co.</li>
<li>Miguel Brito, behind The 1 Brand.</li>
</ul>
The movement isn't just about one brand. It's a collective wave, building a legacy where prohibition once tried to erase it.
Photos courtesy of Happy Munkey

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The U.S. Food And Drug Administration (FDA) granted full approval to Bayer AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) Vitrakvi&nbsp;(larotrectinib) for adult and pediatric patients with solid tumors that have a neurotrophic receptor tyrosine <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">kinase (</a><a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">NTRK</a><a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">) gene fusion</a>.
Vitrakvi has demonstrated clinically meaningful and durable responses across various&nbsp;NTRK&nbsp;fusion-positive solid tumors. FDA first granted Vitrakvi accelerated approval in November 2018.
The approval is <a target="_blank" href="https://www.businesswire.com/news/home/20250409395229/en/U.S.-FDA-Grants-Full-Approval-of-VITRAKVI-larotrectinib-for-Adult-and-Pediatric-Patients-with-NTRK-Gene-Fusion-Positive-Solid-Tumors" rel="noreferrer noopener">based</a> on data from three multicenter, open-label, single-arm clinical trials.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44146075/bayer-ceo-2025-will-be-most-difficult-year-in-turnaround-plan-expects-improved-performance-from-2026-onwards" rel="noreferrer noopener">Bayer CEO: 2025 Will Be &#8216;Most Difficult&#8217; Year In Turnaround Plan, Expects Improved Performance From 2026 Onwards</a>
The major efficacy outcome measures were overall response rate (ORR) and duration of response (DOR).
Pooled efficacy results showed an ORR of 60% with a complete response (CR) rate of 24% and a partial response (PR) rate of 36%.
5% of patients with complete response were pathological complete response.
Patients undergoing a surgical resection whose post-operative pathologic assessment showed no viable tumor cells and negative margins were pathological complete responders provided that no other sites of disease were present. The median DOR was 43.3 months.
Price Action: BAYRY stock closed higher by 2.74% to $5.63 on Thursday.
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Across the recent three months, 8 analysts have shared their insights on Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">4</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Liberty Energy, presenting an average target of $19.62, a high estimate of $25.00, and a low estimate of $11.00. This current average has decreased by 11.3% from the previous average price target of $22.12. 
<img src="https://www.benzinga.com/files/images/story/2025/1744318872_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Liberty Energy's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
&#x7C; Analyst &#x7C; Analyst Firm &#x7C; Action Taken &#x7C; Rating &#x7C;Current Price Target&#x7C; Prior Price Target &#x7C; 
&#x7C;--------------------&#x7C;--------------------&#x7C;---------------&#x7C;---------------&#x7C;--------------------&#x7C;--------------------&#x7C; 
&#x7C;Neil Mehta &#x7C;Goldman Sachs &#x7C;Lowers &#x7C;Neutral &#x7C; $14.00&#x7C;$19.00 &#x7C; 
&#x7C;Derek Podhaizer &#x7C;Barclays &#x7C;Lowers &#x7C;Overweight &#x7C; $17.00&#x7C;$21.00 &#x7C; 
&#x7C;Roger Read &#x7C;Wells Fargo &#x7C;Lowers &#x7C;Equal-Weight &#x7C; $11.00&#x7C;$20.00 &#x7C; 
&#x7C;Connor Lynagh &#x7C;Morgan Stanley &#x7C;Raises &#x7C;Overweight &#x7C; $25.00&#x7C;$20.00 &#x7C; 
&#x7C;Keith Mackey &#x7C;RBC Capital &#x7C;Lowers &#x7C;Sector Perform &#x7C; $19.00&#x7C;$24.00 &#x7C; 
&#x7C;Keith Mackey &#x7C;RBC Capital &#x7C;Lowers &#x7C;Outperform &#x7C; $24.00&#x7C;$26.00 &#x7C; 
&#x7C;Stephen Gengaro &#x7C;Stifel &#x7C;Raises &#x7C;Buy &#x7C; $25.00&#x7C;$23.00 &#x7C; 
&#x7C;Roger Read &#x7C;Wells Fargo &#x7C;Lowers &#x7C;Overweight &#x7C; $22.00&#x7C;$24.00 &#x7C;
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Liberty Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Liberty Energy compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Liberty Energy's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Liberty Energy's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/LBRT/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Liberty Energy analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">you can start by tracking it here</a>.
<h2>All You Need to Know About Liberty Energy</h2>
Liberty Energy Inc is a integrated energy services and technology company focused on providing hydraulic fracturing services and related technologies to onshore oil and natural gas exploration and production (E&amp;P) companies. The Company offers customers with hydraulic fracturing services, together with complementary services including wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods (including sand mine operations), and technologies to facilitate lower emission completions, thereby helping customers reduce emissions profile. The company provides services across USA and Canada.
<h3>Liberty Energy: Financial Performance Dissected</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Liberty Energy's revenue growth over a period of 3M has faced challenges. As of 31 December, 2024, the company experienced a revenue decline of approximately -12.22%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Liberty Energy's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 5.5%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Liberty Energy's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 2.63%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Liberty Energy's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.58%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.27, Liberty Energy adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

LBRT

Breaking Down Liberty Energy: 8 Analysts Share Their Views

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