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Hitek Global

Hitek Global Inc is a provider of information technology consulting and solutions services. The company has two lines of businesses such as services to small and medium businesses, which consist of Anti-Counterfeiting Tax Control System tax devices, including Golden Tax Disk and printers, ACTCS services, and IT services; and services to large businesses, which include hardware sales and software sales. It generates revenues from hardware sales, software sales, IT services, and tax devices and services.

Hitek Global Inc. - Class A Ordinary Share

Hitek Global Inc

U.S. futures were trading lower on Friday after a day&#8217;s break on Thursday. Futures of major benchmark indices were trading lower.
Investors stayed on edge due to the continuing Iran-Israel conflict and the possibility of U.S. intervention, especially after the White House announced President Donald Trump would decide within <a href="https://www.benzinga.com/crypto/25/06/46018884/bitcoin-ethereum-dogecoin-rangebound-as-white-house-says-decision-on-iran-israel-conflict-in-two-weeks-analyst-says-this-is-the-right-combination-for-bullish-btc-momentum-to-retur">two weeks</a>.
Both the NYSE and Nasdaq were closed Thursday for <a href="https://www.benzinga.com/news/events/25/06/46010720/are-markets-open-on-juneteenth-this-year-heres-whats-open-and-whats-closed-on-june-19">Juneteenth</a> but will reopen Friday for regular trading. 
The 10-year Treasury bond yielded 4.40% and the two-year bond was at 3.94%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 91.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.23%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.24%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.23%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.20%</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, were slightly lower in premarket on Friday. The SPY was down 0.49% at $594.51, while the QQQ declined 0.22% to $527.84, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
On Wednesday, most S&amp;P 500 sectors ended in the red, with energy, materials, and communication services stocks seeing the largest declines.
Conversely, information technology and utilities shares defied the broader market downturn, closing the session with gains.
U.S. stocks overall finished mixed, after the U.S. Federal Reserve l<a href="https://www.benzinga.com/markets/economic-data/25/06/46011863/jerome-powell-blames-trump-tariffs-for-inflation-analyst-claps-back-says-fed-is-overplaying-the-card">eft interest rates unchanged</a> at its recent meeting. 
Guild Holdings Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHLD#NYSE">GHLD</a>) shares surged over 25% after announcing a definitive agreement for acquisition by a fund managed by Bayview Asset Management.
Economically, U.S. initial jobless claims decreased by 5,000 to 245,000 in the week ending June 14, aligning with estimates. However, U.S. housing starts dropped 9.8% month-over-month to an adjusted annual rate of 1.256 million units in May.
The Dow Jones index ended 44 points or 0.10% lower at 42,171.66, whereas the S&amp;P 500 index fell 0.031% to 5,980.87. Nasdaq Composite advanced 0.13% to 19,546.27, and the small-cap gauge, Russell 2000, gained 0.52% to end at 2,112.96.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.13%</td>
<td>19,546.27</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.031%</td>
<td>5,980.87</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.10%</td>
<td>42,171.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.52%</td>
<td>2,112.96</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
According to the Senior Global Market Strategist at Wells Fargo, Scott Wren, &#8220;volatility creates opportunities,&#8221; especially when the outlook doesn't call for a recession and an accompanying contraction in earnings.
&#8220;When stocks are down because the economy is slowing, buying opportunities often result, particularly for longer-term investors whose goal is building wealth over time. Our view is that the U.S. economy and earnings growth are both going to slow down in coming quarters, but neither the economy nor earnings are going to actually contract.&#8221;
The U.S. usually leads the rest of the world into an economic slowdown or recession and then leads the world back out into a period of growth, he explained, adding that &#8220;We don't think this time will be different. Hard to time, yes, but different, likely not.&#8221;
Wren also suggests investors keep a couple of key points in mind for a summer that could see larger-than-usual market swings.
First, with the S&amp;P 500 Index nearing its year-end target, Wren believes now is the time to trim stock portfolios, not liquidate them. He favors reducing international equity holdings, U.S. small-cap equities, and cyclical equity sectors like Industrials and Materials.
Second, Wren anticipates that once &#8220;summer policy fireworks begin&#8221; and both equity and bond prices retreat, opportunities will emerge to deploy cash into markets and sectors with strong long-term growth prospects. His favorites for these additions include U.S. large- and mid-cap equities, along with large-cap sectors such as Information Technology, Communication Services, Energy, Financials, and Utilities.
Meanwhile, on the Fed&#8217;s Wednesday decision, Jamie Cox, the managing partner at Harris Financial Group, said, "The Fed continues to <a href="https://www.benzinga.com/markets/economic-data/25/06/46011863/jerome-powell-blames-trump-tariffs-for-inflation-analyst-claps-back-says-fed-is-overplaying-the-card">overplay the inflation story</a> and isn't paying attention to burgeoning demand weakness." &#8211;
Northlight Asset Management CIO, Chris Zaccarelli, on the other hand, explained that the Fed was waiting to see if tariffs increase inflation or the jobs market starts to falter, and whichever part of their dual mandate is impacted first will likely guide whichever direction they take, "although the bias is still toward cutting rates (or at least keeping rates unchanged; not raising rates)."
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Friday:
<ul class="wp-block-list">
<li>June&#8217;s Philadelphia Fed manufacturing survey will be out by 8:30 a.m., and May&#8217;s U.S. leading economic indicators will be released by 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Accenture PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) was up 2.16% in premarket on Friday as analysts expect it to report quarterly earnings of $3.32 per share on revenue of $17.30 billion, before the opening bell.</li>
<li>Carmax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) advanced 2.44% as analysts expect it to report quarterly earnings of $1.16 per share on revenue of $7.47 billion, before the opening bell.</li>
<li>Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) was down 1.68% as analysts expect it to report quarterly earnings of $2.97 per share on revenue of $3.26 billion, before the opening bell.</li>
<li>Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) gained 1.40% as analysts expect it to report quarterly earnings of $1.46 per share on revenue of $45.19 billion, before the opening bell.</li>
<li>APi Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APG#NYSE">APG</a>) jumped 6.15% and United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) was 0.24% higher as the former will replace the latter in the S&amp;P MidCap 400 before the opening of trading on Tuesday, June 24.</li>
<li>Galaxy Digital Inc. (TSE: GLXY) surged 8.14% after the digital asset and AI infrastructure company announced a 29 million share offering last month to fund the continued expansion of high-performance computing infrastructure at its Helios data center campus in West Texas.</li>
<li>FuelCell Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) rose 3.29% on news of technical collaboration with NuScale Power to develop an integrated simulator for hydrogen production.</li>
<li>Smith &amp; Wesson Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) dropped 1342% after reporting the fourth-quarter revenue of $140.8 million, missing analyst estimates of $152.41 million. The company reported adjusted earnings of 20 cents per share in the fourth quarter, missing estimates of 23 cents per share.</li>
<li>Gorilla Technology Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) jumped 14.41% after reporting first-quarter adjusted earnings of 23 cents, improved from a loss of $1.47 per share in the prior year's quarter.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.54% to hover around $73.90 per barrel.
Gold Spot US Dollar fell 0.50% to hover around $3,353.57 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.33% at the 98.5780 level.
Asian markets ended on a mixed note on Friday as Australia's ASX 200 and Japan's Nikkei 225 indices fell. While China&#8217;s CSI 300, South Korea's Kospi, Hong Kong's Hang Seng, and India's S&amp;P BSE Sensex indices advanced. European markets were mostly higher in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/06/46016347/this-stock-just-popped-30-in-5-days-now-expert-says-it-looks-potentially-explosive">This Stock Just Popped 30% In 5 Days — Now Expert Says It &#8216;Looks Potentially Explosive&#8217;</a></li>
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Photo courtesy: godongphoto / Shutterstock.com

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US Stocks Likely To Open Lower Amid Iran-Israel Conflict: Accenture, Kroger Stocks In Focus Ahead Of Earnings

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United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) have suspended flights to the Middle East as the conflict between Iran and Israel continues after Israel launched missiles at Iran on June 13, 2025.
What Happened: United Airlines has announced it will suspend flights from New Jersey's Newark airport to Dubai indefinitely due to the conflict, while American Airlines will suspend flights from Philadelphia International Airport to Doha, Qatar, CBS reported <a href="https://www.cbsnews.com/news/us-airlines-suspend-middle-east-flights-iran-israel/">on</a> Thursday.&nbsp;
A spokesperson for American Airlines said that the suspension of flights will last until at least June 22, the report suggests.
Why It Matters: The move comes in as the conflict between the two countries has escalated. U.S. President Donald Trump has called on Iran <a href="https://www.benzinga.com/news/25/06/46017426/trump-gives-iran-2-weeks-to-strike-a-deal-or-face-us-military-action">to strike a deal</a> with the U.S. or it will face military action. Trump had left the G7 Summit in Canada earlier than scheduled due to the conflict.
Elsewhere, Israeli Prime Minister Benjamin Netanyahu has said that a regime change in Iran isn't his goal, but <a href="https://www.benzinga.com/news/politics/25/06/46018790/benjamin-netanyahu-says-he-didnt-present-regime-change-as-a-goal-in-iran-but-it-could-be-the-result">it could happen</a> as a result of the conflict between the two nations.
Amidst this, Russian President Vladimir Putin has<a href="https://www.benzinga.com/news/politics/25/06/46010064/ayatollah-assassination-discussion-rejected-by-putin-i-do-not-even-want-to-discuss-this-possibility"> rejected discussions</a> relating to the assassination of Iran's Supreme Leader Ayatollah Ali Khamenei. Putin reiterated that Iranians are rallying in support of their leader.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46017496/israel-iran-conflict-lifts-crude-above-77-what-it-means-for-oil-etfs">Israel-Iran Conflict Lifts Crude Above $77: What It Means For Oil ETFs</a></li>
</ul>
Photo courtesy: Shutterstock

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Financial commentator Peter Schiff expressed his intent to launch a gold-backed stablecoin Thursday, questioning the value of those backed by the U.S. dollar.
What Happened:&nbsp;Schiff responded to a comment on X that he should launch a gold-backed stablecoin.
&#8220;They already exist. But I&nbsp;do intend to launch my&nbsp;own,&#8221; Schiff replied. Many users soon converged on this post, with some even suggesting names for the initiative, such as SchiffCoin, while others called it a genuinely &#8220;good idea.&#8221;
It wasn&#8217;t immediately clear whether Schiff was making a joke or genuinely interested in tying cryptocurrency to the asset he passionately supports. Benzinga reached out to entities connected to Schiff, such as SchiffGold, to gather additional information. The article will be updated when they respond.
<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">They already exist. But I do intent to launch my own.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1935817013584109971?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The conversation started on his original post, where he called the dollar a &#8220;flawed&#8221; fiat currency and instead supported having a token purely backed by gold.
&#8220;I get Bitcoin, but not U.S. dollar stablecoins. If you&#8217;re going to introduce a third party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold?,&#8221; he stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I get Bitcoin, but not U.S. dollar stablecoins. If you&#39;re going to introduce a third party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold? You get the same liquidity, but you also get a real store of value.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1935805977577619531?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gold-backed stablecoins do exist, with Tether Gold (CRYPTO: XAUT) and PAX Gold (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/paxg/usd">PAXG</a>) among the most well-known. Year-to-date, the two coins have gained over 28%, matching the gains in the yellow metal.
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45989307/senate-passes-genius-act-coinbases-brian-armstrong-calls-it-big-milestone-scott-bessent-says-passage-could-drive-stablecoins-into-a-3-7-trillion-market" target="_blank" rel="noreferrer noopener">Senate Passes GENIUS Act—Coinbase&#8217;s Brian Armstrong Calls It &#8216;Big Milestone,&#8217; Scott Bessent Says Passage Could Drive Stablecoins Into A $3.7 Trillion Market</a>
Why It Matters:&nbsp;Schiff&#8217;s views on stablecoins have been clear for some time. He has&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46010451/peter-schiff-doesnt-think-stablecoins-will-help-preserve-dollar-dominance-heres-what-the-economist-says-theyll-do-instead">expressed doubts</a>&nbsp;about the potential of stablecoins to maintain the U.S. dollar's dominance, suggesting their primary use would be in cryptocurrency trading. 
The discussion around stablecoins has picked up momentum, especially after the passage of the stablecoin bill by the Senate. President&nbsp;Donald Trump&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46009971/trump-cheers-incredible-stablecoin-bill-passed-by-senate-get-it-to-my-desk-asap-no-delays" target="_blank" rel="noreferrer noopener">praised the move</a>&nbsp;and urged Congress to get it on his desk without delay.
Interestingly, Schiff&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44212604/peter-schiff-establishes-personal-strategic-bitcoin-reserve-vows-not-to-sell-going-down-with-the-ship-so-others-never-get-on-board">established</a>&nbsp;a personal &#8216;Strategic Bitcoin Reserve,&#8217; promising not to sell any of it, in a move seen as a mockery of a similar declaration by President Donald Trump.
Read Next:&nbsp;
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<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45939432/bitcoins-current-cycle-sees-a-656-surge-matching-market-maturation-pace" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Current Cycle Sees A 656% Surge, Matching Market Maturation Pace</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo courtesy: Shutterstock

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Peter Schiff Says He Intends To Launch Gold-Backed Stablecoins, Deems Dollar As A 'Flawed' Fiat Currency

Shares of Cheetah Mobile Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMCM#NYSE">CMCM</a>) rose sharply in pre-market trading following <a href="https://www.benzinga.com/quote/cmcm/earnings">first-quarter results</a>.
Cheetah Mobile posted a quarterly loss of 11 cents per share, versus a year-ago loss of 32 cents per share. The company's quarterly sales rose to $35.69 million from $26.35 million in the year-ago period.
Cheetah Mobile shares surged 11.2% to $4.57 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) surged 129.6% to $7.85 in pre-market trading. On May 21, Wheeler Real Estate Investment Trust announced it will implement a 1-for-7 reverse stock split.</li>
<li>Dragonfly Energy Holdings Corp.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DFLI#NASDAQ">DFLI</a>) shares jumped 108% to $0.4534 in pre-market trading after gaining 6% on Wednesday.</li>
<li>Baiya International Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIYA#NASDAQ">BIYA</a>) gained 36.2% to $1.13 in pre-market trading.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) jumped 32.2% to $0.32 in pre-market trading. On Tuesday, Processa Pharmaceuticals announced the pricing of $7 million public offering.</li>
<li>GMS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) rose 21.2% to $98.22 in pre-market trading. GMS confirmed the receipt of $95.20 per share unsolicited buyout proposal from QXO.</li>
<li>Beasley Broadcast Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBGI#NASDAQ">BBGI</a>) rose 19.5% to $5.57 in pre-market trading after gaining 5% on Wednesday.</li>
<li>Arqit Quantum Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQQ#NASDAQ">ARQQ</a>) gained 15.2% to $43.74 in pre-market trading after surging over 22% on Wednesday.</li>
<li>Oscar Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>) fell 13.3% to $21.31 in pre-market trading after gaining more than 16% on Wednesday.</li>
<li>GeoVax Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) climbed 10.4% to $1.02 in pre-market trading. GeoVax Labs recently in a filing disclosed it will sell 6.15 million common units.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>Nature Wood Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWGL#NASDAQ">NWGL</a>) shares tumbled 52.8% to $2.66 in pre-market trading after surging over 142% on Wednesday.</li>
<li>Regencell Bioscience Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) shares fell 16.2% to $52.96 in pre-market trading after dipping over 18% on Wednesday.</li>
<li>PTL Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTLE#NASDAQ">PTLE</a>) dipped 16.2% to $0.30 in pre-market trading after surging 84% on Wednesday.</li>
<li>Cambium Networks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMBM#NASDAQ">CMBM</a>) declined 12.9% to $0.36 in pre-market trading after gaining over 16% on Wednesday. Cambium Networks, last month, announced it received a Nasdaq noncompliance notice.</li>
<li>Smith &amp; Wesson Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) declined 12.6% to $9.51 in pre-market trading after the company reported worse-than-expected fourth-quarter EPS and sales.</li>
<li>Cellectar Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) dipped 12.4% to $0.32 in pre-market trading. Cellectar Biosciences announced a 1-for-30 reverse stock split, effective June 24.</li>
<li>QuantaSing Group Ltd- ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSG#NASDAQ">QSG</a>) fell 12.1% to $11.86 in pre-market trading.</li>
<li>Aptevo Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) fell 11.9% to $4.52 in pre-market trading. Aptevo Therapeutics shares jumped 82% on Wednesday after the company announced clinical data from its ongoing Phase 1b/2 RAINIER trial evaluating mipletamig.</li>
<li>Capricor Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>) fell 7.4% to $11.04 in pre-market trading. Capricor Therapeutics recently announced Orphan Drug designation for Becker Muscular Dystrophy.</li>
<li>Mesoblast Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) fell 6.5% to $10.94 in pre-market trading.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45993572/top-2-industrials-stocks-that-may-fall-off-a-cliff-in-q2">Top 2 Industrials Stocks That May Fall Off A Cliff In Q2</a> </li>
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Photo via Shutterstock

Pre-Market Outlook

Markets

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Trading Ideas

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WHLR

Why Cheetah Mobile Shares Are Trading Higher By Over 11%; Here Are 20 Stocks Moving Premarket

A heated debate over the U.S. healthcare system erupted on X, pitting billionaire entrepreneur Mark Cuban against Sen. Elizabeth Warren (D-Mass) over the root causes of soaring drug prices.
What Happened: The clash, unfolding as of Friday, has reignited discussions on Pharmacy Benefit Managers (PBMs) and Big Pharma's tax practices, with the Senate poised to address reform amid rising public scrutiny.
Enter Cuban, the Dallas Mavericks owner and founder of Cost Plus Drugs, who fired back with a pointed correction.
In a post quoting Warren, Cuban argued that PBMs—not Big Pharma—are the true culprits behind inflated drug prices.
&#8220;PBMs corrupt healthcare,&#8221; he wrote, explaining that these intermediaries control formularies and manipulate prices to maximize rebate revenue, with <a href="https://www.benzinga.com/25/05/45487788/trumps-drug-price-order-hits-pbms-hardest-cvs-cigna-unh-in-focus-as-experts-highlight-racket-and-pricing-distortion">three major PBMs</a> negotiating over 90% of rebates for commercial insurance plans. 
Warren, in her post, had blamed pharmaceutical giants like Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) for charging Americans the &#8220;highest drug prices in the world&#8221; while paying &#8220;zero dollars in federal taxes.&#8221;
Citing data from her Senate Finance Committee role, Warren highlighted how these companies, alongside AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), have exploited tax loopholes from the 2017 Tax Cuts and Jobs Act to shield billions in profits.
&#8220;Republicans want to make it worse. I&#8217;m fighting back,&#8221; she declared, sharing <a href="https://www.cnbc.com/2025/06/17/pfizer-merck-jj-others-face-scrutiny-over-tax-loophole-extension.html">a</a> CNBC headline and urging action against what she calls a &#8220;rigged tax system.&#8221; 
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No. It&#39;s because PBMs corrupt healthcare. Big Pharma wishes they could set their own pricing. They don&#39;t. PBMs control formularies and manipulate prices, in exchange for providing pharma access to patients. It&#39;s how they maximize rebate revenue. In fact, 3 PBMs NEGOTIATE… <a href="https://t.co/GpN4mnzvOM">https://t.co/GpN4mnzvOM</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1935705831930298562?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:&nbsp;<a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46013679/dan-ives-says-market-is-massively-underestimating-this-ai-play-urges-investors-to-look-beyong-mag-7">Dan Ives Says Market Is ‘Massively Underestimating' This AI Play, Urges Investors To Look Beyond Mag 7</a>
Why It Matters: Cuban has been a c<a href="https://www.benzinga.com/personal-finance/25/04/44674382/mark-cuban-says-big-insurance-companies-and-pbms-control-healthcare-costs-everyone-has-to-kiss-their-a-and-accept-the-complications">ritic of the healthcare system</a>, saying that it should be simple. According to him, it&#8217;s become overly complicated by big insurance companies and PBMs.
These groups, he says, act as middlemen, controlling not just the costs but also the accessibility of care.
He blames PBMs for lack of transparency, inflated specialty drug prices, rebate distortion, formulary restrictions, and &#8220;Sh–ing on&#8221; on independent pharmacies.
Some significant firms engaged in the PBM business listed in the U.S. include;
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>)</td>
<td>51.15%</td>
<td>9.57%</td>
</tr>
<tr>
<td>Cigna Group. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</td>
<td>14.54%</td>
<td>-6.95%</td>
</tr>
<tr>
<td>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>-39.11%</td>
<td>-36.60%</td>
</tr>
</tbody>
</table>
</figure>
Meanwhile, here is how some pharmaceutical sector ETFs have performed;
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>1.69%</td>
<td>-4.48%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-0.49%</td>
<td>-1.85%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-3.23%</td>
<td>-1.64%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-4.06%</td>
<td>2.61%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>20.55%</td>
<td>22.94%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-5.44%</td>
<td>-6.27%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-23.49%</td>
<td>-14.63%</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, were mixed in premarket on Friday. The SPY was down 0.30% at $595.67, while the QQQ was 0.015% higher at $529.07, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Insurance

ABBV

AMGN

FTXH

iShares Dow Jones US Pharmaceuticals Index Fund

KURE

PILL

Merrill Lynch Pharmaceutical HOLDRs Trust

Mark Cuban Corrects Elizabeth Warren As She Slams JNJ, PFE For Higher Prices And Zero Taxes On Big Pharma: 'PBMs Corrupt Healthcare'

Needham analyst Kyle Peterson reiterates Alight (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALIT#NYSE">ALIT</a>) with a Buy and maintains $8 price target.

Price Target

Reiteration

Analyst Ratings

ALIT

Needham Reiterates Buy on Alight, Maintains $8 Price Target

MNSO

MINISO Chairman Guofu Ye Unwinds Collar Transaction, Recovers 14M Shares Previously Transferred As Credit Support Under Prepaid Forward Contract

RYDE

Tencent Cloud Partners With Ryde Group To Boost In-App Ride-Hailing Communication In Southeast Asia Using TRTC And WeChat Mini Program

YUMC

Yum China Unveils Q-Smart, AI Assistant For Store Managers To Streamline Operations With Hands-Free Wearables And Voice-Controlled Insights

So-Young Amends Effective Date Of ADS Ratio Change To 1:15, Plans Reverse ADS Split With No Impact On Class A Shares Or Nasdaq Listing

<a href="https://www.wsj.com/business/deals/home-depot-bid-kicks-off-a-battle-for-5-billion-building-products-company-05cf2060?mod=Searchresults_pos2&amp;page=1" title="https://www.wsj.com/business/deals/home-depot-bid-kicks-off-a-battle-for-5-billion-building-products-company-05cf2060?mod=Searchresults_pos2&amp;page=1">https://www.wsj.com/business/deals/home-depot-bid-kicks-off-a-battle-for-5-billion-building-products-company-05cf2060?mod=Searchresults_pos2&amp;page=1</a>

The Wall Street Journal Reported Thursday, Home Depot Has Made An Offer To Acquire GMS

If you're thinking about investing in real estate right now—especially through a platform like Arrived Homes—it helps to look beyond the marketing headlines and get into the actual numbers. Two cities that keep popping up for investors are Memphis, Tennessee and Phoenix, Arizona. Both are active Arrived markets. But while they're both on the radar, they're moving in completely different directions in 2025.
Phoenix is growing fast, with new construction still ramping up and vacancy rates rising. Memphis, on the other hand, is tightening—fast. Supply is shrinking, rents are rising, and occupancy is pushing past 94% in the city's strongest submarkets. Whether you're looking for short-term cash flow, long-term appreciation, or just trying to make a smart entry into real estate, knowing how these two markets stack up is the key to deciding where your next dollar should go.
Related:
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<li>This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100</a>.</li>
<li>Tired of waiting on the sidelines? <a href="http://groundfloor-finance.sjv.io/dOVZg7">With Groundfloor, you can invest in real estate projects with as little as $10 — no accredited investor status required</a>.</li>
</ul>
<h2 class="wp-block-heading">Tight Supply, Rising Rents, and Strong Cash Flow Potential</h2>
Memphis isn't flashy—but for real estate investors, that's kind of the point. What you get here is a stable, landlord-friendly market with rents that are rising, occupancy rates that are climbing, and home prices that are still within reach. Multifamily construction in Memphis has slowed to a crawl. New starts dropped 60% in 2024, and completions are down another 36% in 2025. That kind of supply squeeze is exactly what drives investor returns.
Occupancy is already strong—sitting at over 94% in East Memphis, Midtown, and Collierville—and net absorption is projected to outpace new deliveries by more than 50% this year. That means fewer units are coming online and the ones that do exist are filling fast. As a result, rents are beginning to climb again—between 2.4% and 4% depending on the neighborhood. That's especially encouraging after a relatively flat 2024.
Affordability is another key reason Memphis stands out. Median rents for all units range from $1,300 to $1,342, with one-bedroom apartments averaging around $1,100. Investors aren't paying a premium to enter this market either—median home prices are still hovering around $190,000. That makes Memphis one of the best cities in the U.S. for cash-flow-focused investing, especially if you're building a diversified portfolio through fractional ownership.
And unlike what we're seeing in oversupplied metros, concessions in Memphis are rare. Landlords don't need to offer free rent or move-in bonuses to fill their units. Demand is strong enough to stand on its own, and that puts investors in a great position to earn consistent, stable returns from day one.
<h2 class="wp-block-heading">High Vacancy, Heavy Concessions—but Long-Term Promise</h2>
Phoenix is almost the opposite story. It's still one of the fastest-growing cities in the country, with a steady stream of new residents relocating from California, the Midwest, and beyond. But in 2025, that population growth hasn't kept pace with the surge in new rental inventory. Active listings are up 20.5% year-over-year, vacancy is sitting at 7.5%—well above the national average—and over half of all listings (56%) are now offering concessions just to attract tenants.
For renters, that's great news. There's more selection, more negotiating power, and lots of opportunities to score deals. But for landlords and investors, the math is trickier. Rent growth has essentially stalled, up just 1.2% over the past year. Most property managers are projecting flat rent performance until 2026, when the excess supply is expected to get absorbed and growth potentially picks back up to 4–6%.
Phoenix is also more expensive on nearly every front. The average rent is $1,646—over $300 higher than Memphis—and larger units easily push past $2,100 per month. While that can translate to higher gross rents, it also means higher acquisition costs, greater tenant turnover risk, and a more competitive landscape for landlords trying to fill vacancies.
Still, Phoenix has something Memphis doesn't: scale and long-term upside. The city's economy continues to expand. Infrastructure is improving. And the west side, where much of the new supply is concentrated, is expected to stabilize over the next 12–18 months. For long-term investors who can handle softer returns in the short run, Phoenix could still deliver strong appreciation over time.
<h2 class="wp-block-heading">Which City Wins in 2025?</h2>
If you're asking which city gives you the better investment opportunity right now, the answer is simple: Memphis. It has rising rents, tightening supply, high occupancy, and investor-friendly prices. You don't need to offer tenant incentives. You don't need to worry about competing with hundreds of other landlords. And you can still buy into this market at a price point that leaves plenty of room for cash flow.
Phoenix, meanwhile, is better for renters in 2025. They're enjoying a rare moment of leverage—more supply, lower rent growth, and generous concessions. For investors, the current picture is more complicated. Yes, Phoenix still has long-term potential. But it's a tougher market right now. If you're investing in Phoenix, you're betting on the rebound—waiting for the oversupply to shake out and rent growth to resume.
But if you want to start earning reliable rental income now—not in 2026 or beyond—Memphis is where you want to be putting your capital today.
Take Action:
<ul class="wp-block-list">
<li>Put your money to work for you: In terms of getting money back, <a href="https://www.gobankingrates.com/best-banks-c/">these bank accounts put traditional checking and savings accounts to shame</a>.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=jeffbezos100"> Here&#8217;s how you can earn passive income with just $100.</a></li>
</ul>
<h3 class="wp-block-heading">Arrived Achieved A Total Return of 34.7% On Their Biggest Sale Yet — Diversify Your Monthly Income Stream With Fractional Real Estate</h3>
<a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=centennial">Arrived allows individuals to invest in shares of rental properties for as little as $100, providing the potential for monthly rental income and long-term appreciation without the hassles of being a landlord</a>. With over $1 million in dividends paid out last quarter and a growing selection of properties across various markets, Arrived offers an attractive alternative for investors seeking to build a diversified real estate portfolio. 
In October 2024, Arrived sold The Centennial, achieving a total return of 34.7% (11.2% average annual returns) for investors. <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=centennial">Arrived aims to continue delivering similar value across our portfolio through careful market selection, attentive property management, and thoughtful timing in sales.</a> Looking for fractional real estate investment opportunities? The <a href="https://www.benzinga.com/alternative-investments/real-estate">Benzinga Real Estate Screener</a> features the latest offerings.

Real Estate

Memphis vs. Phoenix: Which Rental Market Wins in 2025?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly working on a 6-seater variant of the Model Y crossover SUV.
What Happened: "The much rumored about 6-seater Model Y made an appearance in the firmware," Electrek reported <a href="https://electrek.co/2025/06/19/tesla-hacker-reveals-new-model-y-with-6-seats/">on</a> Thursday, citing a post on X by Tesla leaker Green.
The report also said that the model does not appear to be "China-only as some of the speculations said."
Tesla currently offers a 6-seater variant in the Model X, while also offering 5- and 7-seater versions of the car.
<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 much rumored about 6-seater Model Y made an appearance in the firmware. Unlikely to be China-only as some of the speculations said. Some weird &quot;slow down to save energy, people typically drive this much slower here to save %%&quot; nav suggestions.
&mdash; green (@greentheonly) <a href="https://twitter.com/greentheonly/status/1934410913240481998?ref_src=twsrc%5Etfw">June 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The news comes in as Tesla is focused on the company's highly anticipated <a href="https://www.benzinga.com/markets/tech/25/06/45854273/elon-musks-tesla-officially-named-av-operator-in-austin-ahead-of-robotaxi-launch">Robotaxi launch</a> in Austin, Texas. CEO Elon Musk has said that the Robotaxi operation will initially include over 10 Model Y Robotaxis.
Tesla is also planning <a href="https://www.benzinga.com/news/25/06/46018296/tesla-will-shut-down-production-at-the-texas-gigafactory-over-the-4th-of-july-weekend">to shut down</a> its Texas Gigafactory over the Fourth of July Weekend to carry out some maintenance and repair work in the facility's production line.
What could also prove to be a major boost for the company is the NHTSA announcing an update to regulations, which aims to provide exemptions to Autonomous Vehicles in the U.S. <a href="https://www.benzinga.com/markets/tech/25/06/45942936/elon-musks-cybercab-ambitions-just-got-a-boost-as-nhtsa-eases-regulations-for-autonomous-vehicles">from the safety standards</a>.
Elsewhere, Musk also shared that the company <a href="https://www.benzinga.com/markets/tech/25/06/46019450/elon-musk-says-tesla-works-closely-with-xai-you-can-either-be-a-spectator">is working closely</a> with the billionaire's AI venture, xAI, to develop autonomous driving tech as well as humanoid robots.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="202" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1-1024x202.jpg" alt="" class="wp-image-955621" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1-1024x202.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1-768x152.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1-1536x303.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20034941/tsla-jun-20-2025-1.jpg 1566w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45966726/tesla-vehicle-production-cost-1-7-that-of-waymo-elon-musks-ev-giant-closer-to-full-autonomy-than-competition-report">Tesla Vehicle Production Cost &#8216;1/7&#8217; That Of Waymo, Elon Musk&#8217;s EV Giant Closer To Full Autonomy Than Competition: Report</a></li>
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Photo courtesy: Ken Wolter / Shutterstock.com

Tech

TSLA

Elon Musk's Tesla To Expand Model Y Lineup With New 6-Seater Version: Report

<h3>Companies Reporting Before The Bell</h3>
• Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) is expected to report quarterly earnings at $2.97 per share on revenue of $3.26 billion. 
• CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) is estimated to report quarterly earnings at $1.17 per share on revenue of $7.53 billion. 
• Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) is estimated to report quarterly earnings at $3.32 per share on revenue of $17.32 billion. 
• Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) is projected to report quarterly earnings at $1.46 per share on revenue of $45.31 billion. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For June 20, 2025

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) says that its new affordable EV platform will match up to its Chinese counterparts on cost.
What Happened: Lisa Drake, Ford's Vice President for EVs Systems and Platform Programs, shared some insight into the Detroit-based automaker's EV plans with Bernstein analyst Daniel Roeska, Axiom reported <a href="https://www.axios.com/2025/06/18/ford-china-ev">on</a> Wednesday.
"Ford intends to match the cost structure of leading Chinese players. That means not just battery pricing, but full system cost from chassis and thermal systems to inverters and electronics," Roeska wrote. The report also gives a 2027 due date for the EV.
The analyst also said that the new platform will support over 8 body styles, including pickups, sedans and crossovers. "With eight body styles and potential global applicability, it&#8217;s intended to underpin Ford&#8217;s EV strategy for much of the next decade," Roeska said.
The company plans on using Prismatic LFP batteries, built in collaboration with Chinese battery giant CATL or Contemporary Amperex Technology Ltd. However, the batteries will be produced in the U.S., the report suggests.
Why It Matters: The news comes in as Ford reportedly opened its <a href="https://www.benzinga.com/25/05/45562915/ford-will-let-nissan-use-part-of-kentucky-battery-factory-could-this-be-a-scaling-back-on-ev-ambitions">doors for Nissan </a>to use the company's flagship EV battery production plant in Kentucky, amid a projected $5.5 billion loss on EVs in 2025.
The company has said that U.S. President Donald Trump's tariffs would cost them over $1.5 billion, with company executive chair Bill Ford also expressing concern about the GOP's proposal to axe the<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45732185/whats-going-on-with-ford-stock-monday-2"> $7500 EV credit</a>.&nbsp;
The company also hiked prices of some of its<a href="https://www.benzinga.com/markets/25/05/45277938/ford-hikes-prices-of-select-mexico-produced-vehicles-amid-auto-tariff-uncertainty-report"> Mexico-produced EVs</a>, including the Mustang Mach-E, Bronco Sport and Maverick Pickup truck. It's worth noting that Ford produces over 80% of its vehicles domestically.
Elsewhere, the company had recently issued a recall for the <a href="https://www.benzinga.com/markets/tech/25/06/46012477/ford-recalls-over-197000-vehicles-for-backseat-issue-that-could-trap-occupants-in-emergency-situations">Mustang Mach-E</a> as well as the <a href="https://www.benzinga.com/markets/tech/25/06/45739688/ford-recalls-over-29500-f-150-lightning-pickup-trucks-over-suspension-defect">F150 Lightning EV</a> pickup truck over a rear seat occupant and suspension issue, respectively.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="207" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025-1024x207.jpg" alt="" class="wp-image-955574" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025-1024x207.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025-300x61.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025-768x155.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025-1536x311.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/20031446/F-JUN-20-2025.jpg 1576w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Ford scores well on Value, Quality and Growth metrics, while offering satisfactory Momentum. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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