Warren Buffett will unveil the newest Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) shareholder letter Saturday, after once again beating the <a href="https://www.benzinga.com/general/education/25/01/42832123/warren-buffett-beats-sp-500-in-2024-how-oracle-of-omahas-returns-compare-over-past-20-years">S&amp;P 500 in 2024</a>.



Here's a look at what could be included in the legendary investor&#8217;s newest shareholder letter.



What Happened: Each year, Buffett releases a shareholder letter that discusses the market outlook, the performance of Berkshire Hathaway segments and the public stocks it invests in.



Last year's letter was one of the more meaningful and memorable ones. <a href="https://www.benzinga.com/markets/equities/24/02/37301322/the-architect-berkshire-hathaway-warren-buffett-honors-charlie-munger-in-emotional-annual-letter">Buffett penned a detailed tribute</a> to the late Charlie Munger, who Buffett called "the architect of Berkshire Hathaway."



On Saturday, there could be moments of tribute to Munger once again. The <a href="https://www.berkshirehathaway.com/letters/letters.html">letter </a>will likely revolve more around current Berkshire Hathaway investments and operating segments.



"I am charged with writing a letter every year that will be useful to this diverse and ever-changing group of owners, many of whom wish to learn more about their investment," Buffett said in last year's letter.



You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/25/02/43419547/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-52">check out five stocks flying under the radar that deserve your attention.</a>



What Could Be In The 2024 Letter: There are hundreds of items that Buffett could cover in the 2024 annual letter.



One area covered in recent years is handpicking several stocks that are said to leave him feeling comfortable among the non-controlled stock investments. In 2022, he picked Coca-Cola and American Express. In 2023, Occidental Petroleum and the basket of Japanese stocks made the cut.



The question is: Which companies will Buffett pick for 2024? After selling Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares several times in recent quarters, Buffett held tight in <a href="https://www.benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa">the fourth quarter</a>. Buffett often praises the technology giant — a staple in the Berkshire Hathaway portfolio in recent years. Is there enough to call the company one of the most comfortable investments going forward?



If Apple doesn't make the cut, Buffett could still profile the company and its future growth. The stock still makes up a large weighting in the company's investment portfolio.



Buffett could profile newer investments in the shareholder letter. In recent quarters, Buffett's company has added to its stakes in Domino's Pizza (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) and Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>). Berkshire Hathaway also took an initial 5,624,324 share position in Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) in <a href="https://www.benzinga.com/news/global/25/02/43795579/warren-buffett-unfazed-by-trumps-tariff-threats-oracle-of-omaha-bets-on-mexico-beer">the fourth quarter.</a>



Buffett likely won't comment on whether it was he who made the investment decisions or an advisor. He also won&#8217;t likely indicate whether the company is done buying shares. Yet, investors would love more color on the reasoning behind the purchases. Buffett could share more on if the stocks were added as defensive names due to macroeconomic concerns or if there is growth or undervaluation that caught the firm's attention.



Succession is another topic that has been brought up in recent years. Last year's shareholder letter cited Greg Abel as the handpicked leader of the company after Buffett. Considering Buffett is 94 years old, investors are likely looking for more commentary on how and when the succession could take place, or how much control Abel currently has over the company.



The shareholder letter will also dive into the companies that are owned by Berkshire Hathaway, which could provide a good outlook on how sectors like insurance, railroads and consumer products are doing. Duracell, a Berkshire company, made its first ever<a href="https://www.benzinga.com/25/02/43598736/super-bowl-commercials-2025-complete-list-of-super-bowl-lix-ads-and-companies-behind-them"> Super Bowl commercial </a>earlier this month. Buffett&#8217;s writing about that decision could provide a great marketing lesson for the value of Super Bowl ads.



While Buffett doesn't get too political, commentary on the new White House administration, international markets, tariffs and rate cuts could all be items closely watched by investors.



Price Action: Berkshire Hathaway Class B shares trade at $479.82 versus a 52-week trading range of $395.66 to $491.67. The stock is up 6.3% year-to-date in 2025 and up 17.2% over the last year.



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 Index, trades at $600.27. The ETF is up 2.7% year-to-date in 2025 and up 20.7% over the last year.



Berkshire is currently outperforming the SPY in 2025, but lagging on a 52-week basis.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/25/02/43498669/buffett-buys-more-shares-of-stock-down-52-over-last-year-heres-what-the-oracle-of-omaha-is-buying">Warren Buffett Buys More Shares Of Stock Down 52% Over Last Year: Here&#8217;s What The Oracle Of Omaha Purchased</a></li>
</ul>



Image: Shutterstock

Trading Ideas

AAPL

POOL

Warren Buffett's Annual Shareholder Letter Arrives Saturday: Could Investors Get Updates On Apple, Succession, New Investments?

Japan's core consumer inflation climbed to 3.2% in January, marking its fastest pace in 19 months, according to a Reuters report. As expectations of the Bank of Japan (BOJ) <a href="https://www.benzinga.com/markets/asia/25/02/43425523/bank-of-japan-signals-further-rate-hikes-possible-amid-inflation-economic-overheating-worries">continuing to raise interest rates</a> grow, investors following Japan's economic shifts may want to keep an eye on these three <a href="https://www.benzinga.com/etfs">ETFs focused on Japanese equities</a>:



iShares MSCI Japan Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) is one of the largest Japan-focused ETFs. EWJ mirrors the MSCI Japan Index, which tracks top Japanese companies across various sectors.



JPMorgan BetaBuilders Japan ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBJP#BATS">BBJP</a>) seeks to track the performance of the Morningstar Japan Target Market Exposure Index. This fund offers a cost-efficient way to invest in Japanese stocks, providing broad exposure to large- and mid-cap companies.



WisdomTree Japan Hedged Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>) provides exposure to Japanese equities while hedging against movements in the yen. With a focus on companies that generate a significant portion of their revenue overseas (20% or more, according to DXJ fact sheet), this ETF could benefit from a stronger U.S. dollar.



Also Read: <a href="https://www.benzinga.com/markets/bonds/25/02/43772167/japan-bond-yields-hit-15-year-high-as-gdp-growth-surpasses-expectations-peter-schiff-warns-of-train-wreck">Peter Schiff Warns Of &#8216;Slow-Motion Train Wreck&#8217; Financial Disaster That&#8217;s On No One&#8217;s Radar</a>



Potential Impacts



Japan's core consumer inflation surged to 3.2% in January, marking its fastest pace in 19 months. This rise has fueled expectations that the BOJ may continue raising interest rates from their still-low levels, per Reuters. As inflationary pressures mount, bond yields have also climbed, with the two-year Japanese government bond yield reaching 0.830%, its highest level since October 2008.



If inflation in Japan continues to rise, investors in these ETFs could face mixed outcomes. The BOJ may respond with more aggressive interest rate hikes, increasing borrowing costs for businesses and potentially pressuring stock prices, which could impact ETFs like EWJ and BBJP. 



In a note on Jan. 21, Vincent Chung, co-portfolio manager at T. Rowe Price, said that the BOJ&#8217;s rate hike may be the first of several gradual increases. He sees the policy rate to likely reach 1% or higher by the end of this year, as <a href="https://www.cnbc.com/2025/01/24/bank-of-japan-hikes-policy-rates-by-25-basis-points-to-highest-since-2008.html">reported </a>by CNBC.



Reuters noted that Japan's inflation has remained above the central bank's 2% target for close to three years, putting pressure on policymakers to take further action. The BOJ already <a href="https://www.benzinga.com/news/econ-s/25/01/43183053/bank-of-japan-raises-interest-rates-to-pre-2008-levels-amid-trumps-tariff-uncertainties">raised its short-term interest rate</a> to 0.5% from 0.25% in January in a move to achieve sustainable inflation. 



Additionally, a stronger yen due to higher interest rates may hurt export-driven companies, which are majorly large-cap. In this case, ETFs carrying small-cap Japanese stocks, such as the iShares MSCI Japan Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCJ#NYSE">SCJ</a>) may be considered. WisdomTree Japan Hedged Equity Fund&#8217;s currency-hedged strategy could offer some protection.



On the other hand, one must not forget that external economic developments are also at play. CNBC quoted Chung&#8217;s warning that rising U.S. inflation coupled with sustained economic growth later this quarter could lead to a stronger dollar and weaker yen.



Inflation could also mean sector-specific impacts. For instance, while financial and commodity-related stocks can benefit, consumer-driven industries could be strained. Increased market uncertainty and volatility may create short-term fluctuations in these ETFs.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43888012/apples-in-house-modem-chip-sparks-qualcomm-concerns-3-etfs-with-key-exposure">Apple&#8217;s In-House Modem Chip Sparks Qualcomm Concerns: 3 ETFs With Key Exposure</a></li>
</ul>



Photo: Shutterstock

Asia

Specialty ETFs

ETFs

BBJP

Rising Inflation In Japan: 3 ETFs To Watch As BOJ Navigates Rate Hike Expectations

Shares of Axon Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) are trading lower Friday. The stock&#8217;s downtrend, which began on Wednesday <a href="https://www.benzinga.com/quote/AXON/analyst-ratings">after a downgrade</a>, continues.



Axon is testing and may be breaking support. It is also trading above price levels that it gapped up through on Nov. 8. If the support breaks, it may fall quickly back through these levels in the opposite direction. This is why it is our Stock of the Day.



One of the main reasons support levels form in markets is psychology, driven by seller's remorse.



People sell their shares only to watch them head higher after doing so. When this happens, many think their decision to sell was a mistake. Many decide to buy their shares back.



But they will only buy back if they can repurchase at the price they sold.



As a result, if and when the stock eventually drops back to the price they sold at, they place buy orders. If there are a large amount of remorseful sellers placing buy orders it can cause support to form.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43886224/bybit-founder-confirms-1-4-billion-ethereum-hack-blames-masked-transaction">Bybit Founder Confirms $1.4 Billion Ethereum Hack, Blames &#8216;Masked&#8217; Transaction</a>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="546" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21142541/axon-1024x546.png" alt="" class="wp-image-793699" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21142541/axon-1024x546.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21142541/axon-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21142541/axon-768x409.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21142541/axon.png 1522w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



As you can see on the chart there has been support for Axon around $540.



On Nov. 8, the shares opened at $540. Trading volume is typically heaviest at the market&#8217;s open and close. Many who sold at the open regretted their decision as shares closed above $600.



On Jan. 6 when Axon dropped back to this level, a number of these regretful sellers placed buy orders. The large concentration of these orders formed support at the same price that had been support previously.



The same type of price action is occurring now. People who sold at the bottom on Jan. 6 are placing buy orders. As for now, these orders have formed support and put a floor under the price.



If this support breaks, the stock may fall rapidly because it will be back to price levels that it gapped up through.



If a stock closes at one price and opens at another, there is no trading in between the prices. This can appear as a ‘gap' or blank space on a chart.



If there is no trading, then there is no one who sold who will be trying to buy shares if the stock gets back to the levels it gapped through going in the opposite direction.



Axon gapped up from $465.50 to $540.00. It may be about to gap back down.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43889033/consumer-sentiment-drops-10-unitedhealth-under-investigation-whats-driving-markets-friday">Consumer Sentiment Drops 10%, UnitedHealth Under Investigation: What&#8217;s Driving Markets Friday?</a></li>
</ul>



Photo: Shutterstock

Technicals

AXON

Stock Of The Day: Is More Pain Ahead For Axon?

All three major U.S. stock indices are down Friday as traders reacted to several sets of fresh data that raised concerns about<a href="https://www.benzinga.com/25/02/43877634/us-stocks-fluctuate-in-preopen-volatility-doesnt-equal-financial-loss-unless-you-sell-says-expert"> the economic outlook.&nbsp;</a>



The University of Michigan consumer sentiment index fell to 64.7 in January, a decline of 10% and a steeper drop than expected. The 5-year inflation outlook in the survey is the highest since 1995 at 3.5% 



Existing home sales sank by 4.9% to a seasonally adjusted rate of 4.08 million in January, the sharpest decline in seven months, according to Trading Economics.&nbsp;



Read Next: <a href="https://www.benzinga.com/general/market-summary/25/02/43884153/us-services-drop-sharply-darkening-picture-of-high-prices-uncertainty-economist-says">US Services Drop Sharply: &#8216;Darkening Picture&#8217; Of High Prices, Uncertainty, Economist Says</a>



February's flash S&amp;P Global PMIs released <a href="https://www.benzinga.com/general/market-summary/25/02/43884153/us-services-drop-sharply-darkening-picture-of-high-prices-uncertainty-economist-says">Friday morning </a>revealed a sharp, unexpected drop in services and raised concerns about the health of the private sector.&nbsp;



"The upbeat mood seen among US businesses at the start of the year has evaporated, replaced with a darkening picture of heightened uncertainty, stalling business activity and rising prices," said Chris Williamson, chief business economist at S&amp;P Global Market Intelligence.&nbsp;



Natural gas futures rose another 4.5% Friday to $4.3/MMBtu, hitting a 25-month high as cold weather increased heating demand and disrupted production. The United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>), tracking the daily price movements of natural gas futures contracts, climbed 3.2%.&nbsp;



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was volatile as crypto markets reacted to a $1.4 billion Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) hack targeting Bybit&#8217;s cold wallet, <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43886224/bybit-founder-confirms-1-4-billion-ethereum-hack-blames-masked-transaction">one of the largest</a> security breaches in recent history.



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



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>1 day % chg.</td></tr><tr><td>Nasdaq 100</td><td>19,753.44</td><td>-1.05%</td></tr><tr><td>S&amp;P 500</td><td>6,069.73</td><td>-0.78%</td></tr><tr><td>Dow Jones</td><td>43,739.57</td><td>-0.99%</td></tr><tr><td>Russell 2000</td><td>2,231.48</td><td>-1.34%</td></tr></tbody></table></figure>



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



Shares of UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) slumped nearly 9% after the Wall Street Journal reported the Department of Justice launched an investigation into the company&#8217;s Medicare billing practices.



Stocks reacting to company earnings reports included:&nbsp;



<ul>
<li>Solaris Energy Infrastructure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEI#NYSE">SEI</a>) </li>



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



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



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



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



<li>The RealReal, Inc. (NASADQ:REAL) </li>



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



<li>Globant S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) </li>



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



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



Companies reporting on Monday included:&nbsp;



<ul>
<li>Domino&#8217;s Pizza Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) </li>



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



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



<li>Kosmos Energy Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) </li>



<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) </li>



<li>Hovnanian Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOV#NYSE">HOV</a>) </li>
</ul>



Read Next:



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



Image created using artificial intelligence via Midjourney.

Market Summary

News

Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Economics

Movers

General

Real Estate

$BTC

$ETH

CELH

FANG

GKOS

GLOB

MELI

REAL

RIVN

SMMT

Consumer Sentiment Drops 10%, UnitedHealth Under Investigation: What's Driving Markets Friday?

Luigi Mangione, the suspect charged with killing a UnitedHealthcare executive, is set to <a href="https://www.benzinga.com/24/12/42541669/luigi-mangione-faces-murder-first-degree-life-in-prison-in-ceo-death-a-senseless-act-of-violence">appear in court Friday</a>. 



What Happened: After<a href="https://www.benzinga.com/24/12/42655562/luigi-mangione-suspected-ceo-assassin-pleads-not-guilty-in-new-york-court"> pleading not guilty </a>to state charges in December over the alleged killing of UnitedHealthcare CEO Brian Thompson, Mangione is set to appear in court again Friday to face murder and terrorism charges.



Judge Gregory Carro will set pretrial paperwork deadlines for the prosecution and defense, reported by <a href="https://www.cnn.com/2025/02/21/us/mangione-court-charges-united-ceo-killing/index.html">CNN</a>. Carro could also set a trial date for the closely followed court case.



State charges include a punishment of up to life in prison without parole if convicted.



Mangione also faces federal charges, which could include <a href="https://www.benzinga.com/news/legal/24/12/42541669/luigi-mangione-indicted-on-first-degree-murder-charges-in-unitedhealthcare-ceos-death-senseless-act-of-violence">the death penalty</a>. The alleged killer has not entered into a plea for the federal charges yet.



Friday's court hearing is set for a 2:15 p.m. ET start.



Mangione's next court hearing for the federal charges is scheduled for March 19, according to the report.



Read Also:<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43506109/bill-ackman-sends-unitedhealth-stock-lower-with-deleted-tweet-heres-what-he-said"> Bill Ackman Sends UnitedHealth Stock Lower With Deleted Tweet: Here&#8217;s What He Said</a>



Why It's Important: Mangione's case captured worldwide attention. The 26-year-old allegedly targeted Thompson and the American healthcare sector over companies focusing on profits over people.



Notes found on Mangione when he was arrested included commentary on <a href="https://www.benzinga.com/24/12/42605759/luigi-mangione-faces-death-penalty-details-show-attack-planned-for-months-the-target-is-insuranceit-checks-every-box">the healthcare system.</a>



UnitedHealthcare is a unit of UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), one of the largest health insurance companies in the United States.



Mangione has received support from members of the public who also view the health insurance sector negatively. Some supporters have protested the sector and featured signs with the words "Free Luigi" outside his court appearances.



An in-person crowd during an episode of "Saturday Night Live" applauded at Mangione's name being mentioned. Podcaster Joe Rogan <a href="https://www.benzinga.com/media/24/12/42473433/joe-rogan-on-public-sympathy-for-unitedhealthcare-ceo-murder-suspect-health-insurance-a-dirty-dirty-business">also voiced support</a> for Mangione and the public support saying the health insurance business is "dirty."



Public support for Mangione has turned into a windfall of donations that are set to help his defense fund in the case.



A legal defense fund for Mangione has raised over $514,000 in donations through Friday, as <a href="https://nypost.com/2025/02/21/us-news/luigi-mangiones-defense-fund-tops-500k-in-donations/">reported </a>by the New York Post. The funds are said to help pay Mangione's legal fees as he recently beefed up his legal team.



The online fundraiser reached its previous target and now has its sights set on raising $1 million.



Mangione thanks people for his support in his first statement from prison last week. Enter your email to subscribe to the CNN Five Things Newsletter.



"I am overwhelmed by — and grateful for — everyone who has written me to share their stories and express their support," Mangione's statement said.



UnitedHealthcare is the largest individual player in Medicare Advantage with 7.8 million members, the company's latest earnings report revealed. The company also has 4.3 million members enrolled in Medicare supplement plans through UnitedHealthcare. It also has 3 million people enrolled in standalone Part D coverage.



The <a href="https://www.benzinga.com/25/02/43879859/doj-investigates-unitedhealth-probe-accuses-of-inflating-medicare-diagnoses">Department of Justice is investigating</a> the company over its Medicare billing practices.



Price Action: UnitedHealth stock is down 8.8% to $458.26 on Friday versus a 52-week trading range of $436.38 to $630.73. The stock is down 12% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42544499/luigi-mangione-documentaries-in-the-works-from-award-winning-creators-and-possibly-rapper-50-cent">Luigi Mangione Documentaries In The Works From Award-Winning Creators — And Possibly Rapper 50 Cent</a></li>
</ul>



Image: Shutterstock

Legal

Luigi Mangione Back In Court Friday, Supporters Donate $500K To Suspected Killer

Bybit founder Ben Zhou has confirmed that the cryptocurrency exchange suffered a $1.4 billion Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) hack, making it one of the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43614251/hacker-pleads-guilty-to-secs-fake-bitcoin-etf-post-on-x-that-triggered-financial-wipeout-worth-millions">largest security breaches in recent history</a>.



The attack, which targeted Bybit's Ethereum cold wallet, resulted in the loss of 401,347 ETH ($1.12 billion), 90,376 stETH ($253 million), 15,000 cmETH ($44 million), and 8,000 mETH ($23 million), <a href="https://x.com/OnchainLens/status/1892964703263244377">according</a> to Onchain Lens.



<h3 class="wp-block-heading">Bybit's Security Breach Explained</h3>



<a href="https://x.com/benbybit/status/1892963530422505586">According</a> to Zhou, the attack stemmed from a manipulation of Bybit's multisig wallet interface, tricking signers into unknowingly approving a fraudulent smart contract update.



"It appears that this specific transaction was masked. All the signers saw the masked UI, which showed the correct address, and the URL was from Safe," Zhou stated. "However, the signing message was to change the smart contract logic of our ETH cold wallet."



Bybit's team mistakenly authorized a contract modification, allowing attackers to take full control of the cold wallet and transfer all funds to an unknown address.



<h3 class="wp-block-heading">Impact And Response</h3>



Despite the breach, Zhou assured users that other cold wallets remain secure and that withdrawals are operating as normal. However, the massive transfer of stolen funds to external wallets has raised concerns about potential laundering through decentralized finance (DeFi) platforms or privacy-focused mixers.



&#8220;Bybit Hot wallet, Warm wallet and all other cold wallets are fine. The only cold wallet that was hacked was ETH cold wallet. ALL withdraws are NORMAL,&#8221; he said.



Bybit is now working with blockchain investigators and cybersecurity teams to trace the stolen assets. "If any team can help us track the stolen funds, it will be appreciated," Zhou said.



In <a href="https://x.com/benbybit/status/1892969284587966869">another statement</a>, Zhou reaffirmed users that Bybit is solvent and all losses can be covered if the hack loss is not recovered.



According to blockchain sleuth ZachXBT, the attacker split 10,000 ETH to 39 addresses and asked exchanges or services to blacklist these addresses on all EVM chains.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43883117/coinbase-ceo-brian-armstrong-says-sec-has-agreed-to-end-bogus-enforcement-case-without-penalties">Coinbase CEO Brian Armstrong Says SEC Has Agreed To End &#8216;Bogus&#8217; Enforcement Case Without Penalties</a>



Why It Matters: Japanese exchange DMM Bitcoin lost 4,502.9 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on May 31 last year, valued at roughly $305 million, in what became the largest crypto hack of 2024.



TRM Labs then reported that the breach&#8217;s cause was unclear, with potential vectors including stolen private keys or address poisoning. 



On September 23, 2023, Hong Kong-based Mixin Network suffered a $200 million loss when hackers breached its cloud service provider&#8217;s database, likely compromising private keys. 



It was touted to be the biggest crypto exploit of 2023, forcing the platform to halt operations abruptly. 



Analysts suspect weak key management as the root cause.



Similarly, Euler Finance, a DeFi protocol, lost $197 million in a flash loan attack exploiting a smart contract vulnerability on March 13, 2023. 



According to reports, the hacker manipulated token exchange rates, but unusually, most funds were returned after negotiations, with the attacker keeping a small bounty. 



This remains one of DeFi's largest incidents of 2023. 



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43879013/after-im-a-nazi-rant-on-x-kanye-west-is-reportedly-considering-a-token-after-all">After &#8216;I&#8217;m A Nazi&#8217; Rant On X, Kanye West Is Reportedly Considering A Token After All</a></li>
</ul>



Image: Shutterstock

Cryptocurrency

Bybit Founder Confirms $1.4 Billion Ethereum Hack, Blames 'Masked' Transaction

February's flash S&amp;P Global PMIs released Friday morning revealed a sharp, unexpected drop in services and raised concerns about the health of the private sector<a href="https://www.benzinga.com/25/02/43877634/us-stocks-fluctuate-in-preopen-volatility-doesnt-equal-financial-loss-unless-you-sell-says-expert"> in the United States.&nbsp;</a>



<h2 class="wp-block-heading">Services PMI Falls Sharply</h2>



Services PMI: The S&amp;P Global Flash U.S. Services PMI Business Activity Index fell to 49.7 in February 2025 from 52.9 in January, sharply below expectations of 53 points. February's data marks the first contraction in the services sector activity in over two years, according to data from Trading Economics.  



Firms reported worsening new order growth to nearly stagnant levels due to uncertainty surrounding the Trump administration's spending cuts and potential pro-inflationary policies. 



U.S. Services PMI is expected to be 52 points by the end of the first quarter, according to Trading Economics global macro models and analysts expectations.



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



<h2 class="wp-block-heading">Manufacturing PMI Edges Higher</h2>



Manufacturing PMI: The U.S. Manufacturing PMI increased to 51.6 points in February, up from 51.2 points in January and above expectations of 51.5.&nbsp;



February data shows a continuing recovery in the manufacturing sector and marks the highest reading since June 2024. Factory output grew for a second month in a row and at the fastest pace in nearly a year.&nbsp;&nbsp;



U.S. Manufacturing PMI is expected to be 51 points by the end of the current quarter, according to Trading Economics global macro models and analysts expectations.&nbsp;



<h2 class="wp-block-heading">Composite PMI Shows Slowest Growth Since 2023</h2>



Composite PMI: The Composite PMI Index, which combines services and manufacturing data, dropped sharply to 50.4 points in February, down from 52.7 points in January. It marks the slowest pace of private-sector expansion since September 2023, driven by February's drop in services output.&nbsp;



New order growth dropped and employment slipped while cost inflation grew and selling prices marked their slowest increase since late 2024.&nbsp;



"The upbeat mood seen among U.S. businesses at the start of the year has evaporated, replaced with a darkening picture of heightened uncertainty, stalling business activity and rising prices," said Chris Williamson, chief business economist at S&amp;P Global Market Intelligence.  



Markets React: All three major U.S. indices are red Friday with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) down 0.49% and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100, down 0.37%.&nbsp;



The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), which tracks the U.S. dollar index, is up 0.38% at $29.09 at the time of publication Friday.&nbsp;



Read Next:



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



Image: Shutterstock

Macro Economic Events

Currency ETFs

US Services Drop Sharply: 'Darkening Picture' Of High Prices, Uncertainty, Economist Says

Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) analysts broke down the short and long-term outlook for the electric vehicle company. Among the items they address is the potential impact of White House policy changes after <a href="https://www.benzinga.com/topic/electric-vehicle">fourth-quarter financial results</a>.



<h3 class="wp-block-heading">The Rivian Analysts</h3>



<ul>
<li>Needham analyst Chris Pierce reiterated a Buy rating on Rivian and raised the price target from $14 to $17.</li>



<li>Cantor Fitzgerald analyst Andres Sheppard downgraded the stock from Overweight to Neutral and raised the price target from $13 to $15.</li>



<li>Stifel analyst Stephen Gengaro maintained a Buy rating with a price target of $16.</li>



<li>Benchmark analyst Mickey Legg reiterated a Buy rating with a price target of $18.</li>



<li>RBC Capital analyst Tom Narayan maintained a Sector Perform rating with a price target of $12.</li>
</ul>



Needham: Pierce says management commentary and a strong balance sheet are highlights from the fourth quarter.



"We continue to see RIVN as a long term winner in the ICE to EV transition given owner satisfaction and passion ahead of launching the more affordable, TAM increasing R2 vehicle, combined with RIVN's strong balance sheet post the Volkswagen joint venture," Pierce said.



The launch of the R2 remains on track for the first half of 2026.



"Given R1 demand concerns, the R2 can't arrive soon enough to drive unit growth to better absorb fixed costs,&#8221; he adds.



Pierce said the R2 comes with reduced costs at the start of production, along with being a vehicle that appeals to a wider group of consumers, giving the vehicle dual benefits for Rivian.



Cantor Fitzgerald: Positive gross margins were a highlight in the quarterly results, but guidance for 20225 leads to a downgrade by Sheppard.



"RIVN initiated FY25 vehicle delivery guidance of 46,000 – 51,000, below our preliminary guidance/Visible Alpha consensus of 59,402/55,190," Sheppard said.



Along with the lower-than-expected delivery guidance, Sheppard highlights worsening macro conditions and the likely removal of the $7,500 EV tax credit as negatives for Rivian.



The analyst said Rivian benefits with a "differentiated product offering," its commercial partnership with Amazon and a strategic joint venture with Volkswagen.



"We are encouraged by the company's first positive gross profit, albeit that was driven primarily by the sale of regulatory credits."



Stifel: Rivian had a strong fourth quarter, but still has some bumps ahead, Gengaro said in a new investor note.



The analyst said the long-term story for Rivian is still "intact."



"Overall, we view the print and outlook as about neutral for the shares near-term, and supportive of our positive longer-term view for RIVN," Gengaro said.



The analyst highlighted the company's capital infusion from the Volkswagen joint venture and the Department of Energy loan that will fund operations for the ramp of R2 at the Normal, Illinois facility and for the R2 and R3 production being built out in Georgia.



Benchmark: The company achieving gross profitability is a major milestone given a challenging macro environment, Legg said in a new investor note.



"The path to profitability remains intact," Legg said.



The analyst said macro concerns remain for the short term.



"We remain optimistic on operational efficiencies in 2025 and the launch of R2 in 2026, which in our view should propel RIVN to a profitable scale."



Legg predicts that 2026 could be "a breakout year for the company."



RBC Capital: After fourth-quarter results, Narayan questions the company's future with the new White House administration and potential policy changes.



"Questions over the new administration's approach to the DOE loan as well as on how R2 will fare without IRA consumer credits, still remain," Narayan said.



The $6.6 DOE loan is also under scrutiny by the current White House administration, which could Rivian's future liquidity.



The analyst also has questions on Rivian's upcoming debt maturities, which includes $1.2 billion due in 2026.



"Ultimately, a lot rests on the company's ability to improve its underlying Gross Profit performance, excluding regulatory credits."



Price Action: Rivian stock is down 5.5% to $12.86 on Friday versus a 52-week trading range of $8.26 to $18.86. Rivian stock is down 17% over the last year.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/media/25/02/43805137/elon-musk-defends-doge-initiatives-says-his-role-is-to-provide-trump-with-tech-support-if-the-bureaucracy-is-fighting-the-will-of-the-people">Elon Musk Defends DOGE Initiatives, Says His Role Is To Provide Trump With Tech Support: &#8216;If The Bureaucracy Is Fighting The Will Of The People…&#8217;</a></li>
</ul>



Image: Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

Rivian 'Long Term Winner' In EV Sector: Analysts Less Optimistic On Short Term With White House Questions

Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong announced that the Securities and Exchange Commission has decided to fully withdraw its enforcement <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41602107/coinbase-ceo-brian-armstrong-says-next-sec-chair-should-apologize-for-the-damage-done-to-t">case against the company.</a>



What Happened: <a href="https://www.cnbc.com/2025/02/21/coinbase-says-the-sec-has-agreed-to-end-enforcement-case-against-crypto-exchange.html">Speaking </a>to CNBC on Friday, Armstrong described the lawsuit as an unjustified attack on the cryptocurrency industry and said the SEC had no legal basis for its claims.



&#8220;This is a huge day for us and also for the 50 million Americans who hold crypto,&#8221; Armstrong said. &#8220;This case was bogus, and we were right on the facts. If we hadn't stood up for our customers' rights, it could have been the end of the crypto industry in America.&#8221;



The SEC sued Coinbase in 2023, accusing it of operating as an unregistered securities exchange, broker, and clearing agency. The regulator also alleged that Coinbase's staking-as-a-service <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32746275/coinbase-ceos-war-cry-after-sec-sues-crypto-exchange-well-get-the-job-done">program violated securities laws</a>.



Armstrong pushed back, arguing that Coinbase had already disclosed its business model when it went public and that the SEC had approved its operations at the time.



&#8220;They asked us a million questions. They knew exactly what our listing process was and how we took a very conservative approach,&#8221; Armstrong said. &#8220;Then a few years later, the political climate changed, and they suddenly changed their mind. But that's not how it works.&#8221;



Armstrong said the SEC decided to drop the case after realizing it had weak legal standing. 



He credited the new administration and SEC officials, including Commissioners Mark Uyeda and Hester Peirce, for working to correct what he described as past overreach.



&#8220;I have to give a lot of credit actually to this new administration that's come in,&#8221; Armstrong said. &#8220;I hope that they'll dismiss all the bogus cases, and it'll be a domino effect for the rest of the industry.&#8221;



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825695/xrp-rallies-5-on-etf-news-what-is-going-on">XRP Rallies 5% On ETF News: What Is Going On?</a>



What&#8217;s Next: The SEC commissioners are expected to vote on the case's formal dismissal next week, following a recommendation from the agency's staff.



Armstrong emphasized that Coinbase will not pay any fines or admit wrongdoing, calling the withdrawal &#8220;unprecedented in SEC history.&#8221;



The legal battle came at a significant cost for Coinbase. 



Armstrong disclosed that the company spent over $50 million in external legal fees, not including internal expenses.



With the case nearing its conclusion, Armstrong called for clearer crypto regulations from Congress. He outlined three key priorities:



<ol>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43810566/stablecoins-are-a-big-deal-but-not-where-youd-expect-bernstein-says">Stablecoin legislation</a> to support a digital dollar and maintain the US dollar's reserve currency status.</li>



<li>A <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43500853/is-the-sec-making-peace-with-crypto-the-key-personnel-shifts-hinting-at-why-this-may-be-the-case">clear regulatory framework</a> to classify crypto assets as commodities, securities, or payment tokens.</li>



<li>A <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43765261/bitcoin-reserve-can-potentially-secure-u-s-superpower-status">strategic Bitcoin reserve</a> to position the US for long-term financial security.</li>
</ol>



With the SEC shifting its stance on crypto enforcement, Armstrong sees this decision as a turning point for regulatory clarity in the US. 



He hopes it will set a precedent for how the government approaches the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41782783/coinbase-ceo-brian-armstrong-welcomes-most-pro-crypto-congress-ever-as-end-to-gary-gensler">broader digital asset industry.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43849122/xrp-up-297-against-bitcoin-since-donald-trump-won-the-election-heres-why">XRP Up 297% Against Bitcoin Since Donald Trump Won The Election: Here&#8217;s Why</a></li>
</ul>



Image: Shutterstock

COIN

Coinbase CEO Brian Armstrong Says SEC Has Agreed To End 'Bogus' Enforcement Case Without Penalties

Gold prices have skyrocketed, surging over 50% in just 14 months to hit fresh all-time highs. The metal&#8217;s market cap has now crossed a jaw-dropping $20 trillion — <a href="https://www.benzinga.com/topic/gold">a first in history</a>.



<h2 class="wp-block-heading">Gold Defies Gravity</h2>



What&#8217;s unusual this time? Gold is climbing alongside the U.S. dollar and bond yields—a rare divergence that&#8217;s raising eyebrows across Wall Street, <a href="https://x.com/KobeissiLetter/status/1892596245794783617?s=31">reported</a> The Kobeissi Letter.



<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">Furthermore, physical gold buying is SKYROCKETING. Gold inventories in the 3 largest COMEX gold vaults just surged by 15 MILLION ounces in 2 months. That&#39;s a +115% increase, putting physical gold holdings ABOVE 2020 pandemic levels. There has been a CLEAR shift in sentiment. <a href="https://t.co/3B6bmd58gy">pic.twitter.com/3B6bmd58gy</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1892596250119168237?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



What was also noted is that physical gold buying is off the charts. Inventories in the three largest COMEX vaults spiked by 15 million ounces in just two months—a 115% surge that pushed holdings above 2020 pandemic levels.



Meanwhile, China&#8217;s gold reserves hit a record $73.5 billion, while India&#8217;s reached $70.9 billion. Central banks worldwide are piling in, with 2024 marking the third consecutive year of 1,000+ tonnes in net gold purchases—an unprecedented streak, The Kobeissi Letter notes.



Read Also: <a href="https://www.benzinga.com/government/regulations/25/02/43875557/donald-trump-airs-fort-knox-inspection-as-gold-edges-closer-to-3000-it-is-an-essential-component-of-portfolio-says-expert">Gold Is An &#8216;Essential Component&#8217; Of Portfolio, Says Expert As It Nears $3000 While Trump, Musk Suggest Fort Knox Inspection Amid The Surge</a>



<h2 class="wp-block-heading">Trading The Gold Boom: Golden Crosses Flash Bullish</h2>



With gold glittering, related stocks and ETFs are flashing bullish signals.



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM.png" alt="" class="wp-image-793161" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084409/Screenshot-2025-02-21-at-7.00.39-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a target="_blank" href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) just formed a golden cross, where its 50-day moving average crossed above its 200-day. AU&#8217;s share price of $32.02 sits well above both its 50-day SMA of $27.37 and 200-day SMA of $27.01, signaling bullish momentum.



Read Also: <a href="https://www.benzinga.com/25/02/43710503/bank-of-america-sees-gold-hitting-3500-as-demand-surges-on-increased-policy-tensions">Gold Could Reach $3,500 As Demand Rises On &#8216;Increased Policy Tensions,&#8217; Says Bank of America</a>



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM.png" alt="" class="wp-image-793166" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084508/Screenshot-2025-02-21-at-7.14.52-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



The iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) also triggered a golden cross. Currently trading at $35.30, RING&#8217;s price outpaces its 50-day SMA of $31.22 and its 200-day SMA of $30.85. 



<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM.png" alt="" class="wp-image-793164" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/21084431/Screenshot-2025-02-21-at-7.03.57-PM-300x233.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent012125&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



Gold Fields Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) followed suit, boasting a 42% gain over the past year and a 36.5% surge year-to-date.



<h2 class="wp-block-heading">Bet On The Bull Run?</h2>



With gold breaking records, central banks hoarding bullion, and key stocks flashing golden crosses, the trend is hard to ignore. 



As macroeconomic uncertainty looms—from U.S. debt worries to trade tensions—gold's safe-haven appeal seems stronger than ever. 



For traders eyeing the next leg up, AU, RING, and GFI might just be golden tickets.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43858757/bullion-boom-gold-etfs-gain-as-geopolitical-storm-fuels-surge">Bullion Boom: Gold ETFs Gain As Geopolitical Storm Fuels Surge</a></li>
</ul>



Image: Shutterstock

Commodities

Markets

RING

Gold Rush 2.0? Here's How To Play The New Bull Market

The Justice Department has reportedly launched a civil fraud investigation into UnitedHealth Group Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) Medicare billing practices.



The probe began in recent months and will examine UnitedHealth&#8217;s Medicare Advantage plans and physician groups following reports that the company received billions in federal payments for questionable diagnoses.



Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/43065141/analysts-maintain-optimism-for-unitedhealth-despite-mixed-q4-results" rel="noreferrer noopener">UnitedHealth&#8217;s Strong Member Loyalty Powers Analyst Growth Forecasts</a>



The insurance giant is already under scrutiny. In January, the Federal Trade Commission released a second interim staff report detailing significant price markups on specialty generic drugs by&nbsp;UnitedHealth&#8217;s pharmacy benefit management unit along with&nbsp;CVS Health Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) CVS Caremark and&nbsp;Cigna Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/43010888/ftc-says-unitedhealth-cvs-cigna-make-billions-via-pbms-on-specialty-drugs" rel="noreferrer noopener">Express Scripts</a>.



The Wall Street Journal <a target="_blank" href="https://www.wsj.com/health/healthcare/unitedhealth-medicare-doj-diagnosis-investigation-66b9f1db?mod=latest_headlines" rel="noreferrer noopener">reported</a> that Medicare paid UnitedHealth substantial sums based on diagnoses added to patients&#8217; records, some of which doctors said were irrelevant or undocumented.



The WSJ report&#8217;s analysis of Medicare data from 2019 to 2021 found that UnitedHealth-employed doctors significantly increased the number of lucrative diagnoses for patients in the company&#8217;s Medicare Advantage plans.



Additionally, some diagnoses were added without physician treatment, including through in-home nurse visits, leading to an extra $8.7 billion in federal payments in 2021.



Each visit by UnitedHealth-employed nurses was valued at an average of $2,735 in additional government reimbursements.



The WSJ report added that UnitedHealth has defended its Medicare billing practices, arguing that they lead to more accurate diagnoses, improve patient care, and reduce healthcare costs. The company has previously stated that it performs well in Medicare audits and has disputed the Journal&#8217;s findings.



UnitedHealthcare, one of the largest health insurers in the U.S. with over 50 million members, has faced ongoing criticism over its <a target="_blank" href="https://www.benzinga.com/24/12/42365853/unitedhealthcare-faces-tough-questions-following-insurance-business-ceos-tragic-death" rel="noreferrer noopener">claim denial practices</a>.



A Senate investigation earlier this year concluded that Medicare Advantage providers, including UnitedHealthcare, intentionally denied claims to increase profits.



As per a recent media report, UnitedHealthcare, the insurance arm of&nbsp;UnitedHealth, is reportedly offering some employees in its benefits operations unit a chance to take a buyout if they <a target="_blank" href="https://www.benzinga.com/25/02/43829064/unitedhealthcare-offers-voluntary-buyouts-possible-layoffs-if-targets-not-met-cnbc" rel="noreferrer noopener">resign by March 3</a>.



In a social media <a target="_blank" href="https://x.com/BillAckman/status/1892912458840547554" rel="noreferrer noopener">post</a>, investor Bill Ackman said,&#8221; When a company, in this case United Healthcare, attacks its critics, the probability that it has committed fraud or is guilty of a crime increases substantially.&#8221;



&#8220;My psychological short here is paying off and I would avoid this stock,&#8221; Ackman added.



Price Action: UNH stock was down 10.2% at $451.36&nbsp;during the premarket session at the last check on Friday.



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<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/02/43851537/centerpoint-energy-stays-on-track-eps-rises-25-grid-upgrade-planned-and-more" target="_blank" rel="noreferrer noopener">CenterPoint Energy Stays On Track: EPS Rises 25%, Grid Upgrade Planned And More</a></li>
</ul>



Photo by JHVEPhoto via Shutterstock.com

Large Cap

Health Care

Media

DOJ Investigates UnitedHealth, Probe Accuses Of Inflating Medicare Diagnoses

Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are down 5.2% in pre-market trading on Friday after the company said that it <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">expects to deliver</a> between 46,000 and 51,000 vehicles in 2025, less than the 51,579 deliveries reported in 2024.



What Happened: The company said that it expects deliveries to be about 8000 in the first quarter due to lower commercial vehicle deliveries as well as seasonality and a challenging demand environment for consumer vehicles.



The company will instead focus on building inventory in the first quarter to help mitigate the impact of a planned shutdown in the second half of the year to prepare for the start of production of its R2 vehicle, it said. The company will shut down the plant for about a month to integrate the R2 manufacturing line, company CEO RJ Scaringe said during the company&#8217;s fourth-quarter earnings call on Thursday. 



Production of Rivian&#8217;s R2 vehicle, priced around $45,000, is expected to start in the first half of 2026 at the company&#8217;s factory in Illinois. 



&#8220;We remain steadfast in our belief that R2 will be truly transformative for our growth and profitability,&#8221; company CFO Claire McDonough said. 



Gearing For Potential Regulatory Changes: Rivian warned that the outlook reflects the management&#8217;s current view on potential adjustments to incentives, regulations, and tariff structures under the Trump administration. These are, however, external factors outside of the company&#8217;s control and could change, McDonough noted. 



The company has also weighed in on the possibility of the $7,500 tax credit on the purchase of EVs getting dropped under the new administration, Scaringe said. 



&#8220;We&#8217;ve architected the business and we&#8217;ve built in a lot of flexibility in terms of vehicle configuration (for R2) and, therefore, pricing associated with different models or variants that contemplates both a world with the $7,500 credit and a world without the $7,500 credit,&#8221; he said.



Q4 Results: Rivian reported a <a href="https://www.benzinga.com/markets/equities/25/02/43874096/gary-black-left-unimpressed-by-rivians-earnings-calls-2025-guidance-clearly-weak">positive quarterly gross profit</a> for the first time on Thursday. The company reported $170 million in gross profit for the three months through the end of December, compared to a loss of $606 million a year ago, owing to reduced cost, sale of regulatory credits, and higher average selling price on its vehicles. 



The company also reported quarterly revenue of $1.73 billion beating a Street consensus estimate of $1.4 billion.



The company reported an adjusted loss of 46 cents per share in the quarter, beating a Street estimate of a loss of 65 cents per share.



Recall Adds To Woes: Rivian recalled 17,260 model-year 2025 R1S and R1T vehicles in the U.S. on Friday owing to concerns that the headlight low beams may fail to illuminate when starting the vehicle in cold weather.



The company said that it would replace the headlight control modules free of charge to the customer.



Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/02/43842890/osha-cites-tesla-over-death-of-electrician-report" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Tesla Cited By OSHA Over Death Of Electrician At Giga Texas: Report</a></li>
</ul>



Photo courtesy: Shutterstock

Tech

Rivian Drops 5.2% In Premarket Trading After Disappointing Vehicle Delivery Outlook

U.S. stock futures were flat and swung between gains and losses on Friday following Thursday&#8217;s decline. The S&amp;P 500 futures were trading a little below the flatline whereas other indices were in green.



Alibaba Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NASDAQ">BABA</a>) shares jumped 14.56% in Hong Kong on Friday after exceeding the street&#8217;s expectations on Thursday. Other Chinese tech companies also rallied.



Gold neared the $3000 per ounce mark amid President Donald Trump and Elon Musk&#8216;s <a href="https://www.benzinga.com/markets/commodities/25/02/43875860/trump-plans-fort-knox-gold-inspection-as-prices-soar-past-2940if-the-gold-isnt-there">remarks</a> to visit the Forth Knox for the inspection of precious bullion reserves.



The 10-year Treasury yield stood at 4.49%, while the two-year yield was at 4.26%. According to the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, there is a 97.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.08%</td></tr><tr><td>S&amp;P 500</td><td>-0.01%</td></tr><tr><td>Dow Jones</td><td>0.09%</td></tr><tr><td>Russell 2000</td><td>0.25%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY was up 0.049% to $610.68, and QQQ advanced 0.12% to $537.88, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From The Last Session



Sectors drove U.S. stock <a href="https://www.benzinga.com/news/earnings/25/02/43875808/dow-tumbles-450-points-as-walmart-shares-plunge-investor-sentiment-declines-fear-greed-index-in-neutral-zone">declines</a> Thursday, with financials, consumer discretionary, and staples leading losses. Conversely, the energy and real estate sectors gained. 



Jobless claims for the week ending Feb. 15 rose to 219,000, above the 215,000 estimate, and the Philadelphia Fed Manufacturing Index sharply declined to 18.1



Walmart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NASDAQ">WMT</a>) shares plunged 6.53% despite beating expectations as the retail giant&#8217;s growth forecast for the fiscal year 2026 was below the consensus.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-0.47%</td><td>19,962.36</td></tr><tr><td>S&amp;P 500</td><td>-0.43%</td><td>6,117.52</td></tr><tr><td>Dow Jones</td><td>-1.01%</td><td>44,176.65 </td></tr><tr><td>Russell 2000</td><td>-0.91% </td><td>2,261.74</td></tr></tbody></table></figure>



Insights From Analysts



&#8220;Volatility doesn't equal a permanent financial loss unless you sell,&#8221; said Peter Mallouk, in an X post.



CEO at Creative Planning, Mallouk shared a chart in an X post showing that the S&amp;P 500 index has fallen 58% in 1930, 49% in 2008, and 34% in 2020, but despite these sharp declines it has returned an average of 10% per year since 1928.



<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 S&amp;P 500 has returned an average of 10% per year since 1928 and has done so despite an average intra-year drawdown of 16%, and often drawdowns that are much worse. The lesson? Volatility doesn't equal a permanent financial loss unless you sell. <a href="https://t.co/3aroEwPmoX">pic.twitter.com/3aroEwPmoX</a>&mdash; Peter Mallouk (@PeterMallouk) <a href="https://twitter.com/PeterMallouk/status/1892232172372996226?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ryan Detrick, the chief market strategist at Carson Research highlighted that the second half of February is usually riskier for the S&amp;P 500 returns. He mapped the data from 1950 to 2024, which showed that on average, the index has declined consistently after peaking on Feb. 15.



<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">You are here. <a href="https://t.co/kNomjDgH4h">pic.twitter.com/kNomjDgH4h</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1892615024536907893?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Highlighting the fixed income opportunities, Scott Wren, the senior global market strategist at Wells Fargo said that investors should move money out of short-term instruments and into higher-yielding investment-grade fixed income further out on the maturity spectrum.



&#8220;We have conviction around our year-end target range of 4.50% – 5.00% for the U.S. 10-year Treasury note, and on that basis, we see attractive fixed-income opportunities for investors,&#8221; he said.



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>
<li>February&#8217;s S&amp;P flash U.S. services PMI and manufacturing PMI will be out by 9:45 a.m., ET.</li>
</ul>



<ul>
<li>The final consumer sentiment data for February and existing home sales data for January will be out by 10:00 a.m., ET.</li>
</ul>



<ul>
<li>Fed Vice Chairman Philip Jefferson will speak again and San Francisco Fed President Mary Daly will also speak for the second time this week at 11:30 a.m., ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Telephone and Data Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDS#NYSE">TDS</a>) was up 0.18% in the premarket on Friday ahead of its earnings, which will be released before the opening bell. Analysts expect it to report a quarterly loss of 28 cents per share on the revenue of $1.25 billion.</li>
</ul>



<ul>
<li>Vipshop Holdings Ltd. ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) jumped 10.19% as Wall Street expects it to report quarterly earnings of 82 cents per share on revenue of $4.77 billion before the opening bell.</li>
</ul>



<ul>
<li>Brady Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>) was 0.09% higher ahead of its earnings, which will be released before the opening bell. Analysts expect it to report quarterly earnings of $1.03 per share on revenue of $359.11 million.</li>
</ul>



<ul>
<li>United States Cellular Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USM#NYSE">USM</a>) advanced 2.89% as Wall Street expects it to report a quarterly loss of 5 cents per share on the revenue of $965.87 million after the closing bell.</li>
</ul>



<ul>
<li>Dropbox Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) plunged 10.29% despite reporting better-than-expected earnings as its total annual recurring revenue decreased by $4.8 million quarter-over-quarter.</li>
</ul>



<ul>
<li>Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) zoomed 32.28% after reporting a record 2024 revenue of $1.36 billion due to high demand for its functional beverages and acquired Alani Nu for $1.65 billion to expand its brand portfolio.</li>
</ul>



<ul>
<li>COPT Defense Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDP#NYSE">CDP</a>) rallied by 30.94% as it increased its quarterly dividend by 3.4% to $0.305 per share for Q1 2025, payable April 16th to shareholders. This equates to an annualized dividend of $1.22 per share.</li>
</ul>



<ul>
<li>Soluna Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) rose 1.38% and Bit Digital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) advanced 1.02% as the companies expanded their partnership with a new 12-month, 5.5 MW hosting contract at Project Dorothy, Texas, bringing their total hosted capacity to over 12 MW.</li>
</ul>



Commodities, Gold And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.90% to hover around $71.83 per barrel.



The gold spot index was down by 0.31% to $2,929.69 per ounce after hitting a fresh record of $2,949.87. The Dollar Index was up 0.26% at 106.651 level.



Asian markets ended mostly higher on Friday. Except for Australia's ASX 200, and India's S&amp;P BSE Sensex index, all indices including, China's CSI 300, South Korea's Kospi, Hong Kong's Hang Seng, and Japan's Nikkei 225 index rose. European markets were mixed in trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43875557/donald-trump-airs-fort-knox-inspection-as-gold-edges-closer-to-3000-it-is-an-essential-component-of-portfolio-says-expert">Gold Is An &#8216;Essential Component&#8217; Of Portfolio, Says Expert As It Nears $3000 While Trump, Musk Suggest Fort Knox Inspection Amid The Surge</a></li>
</ul>



Photo courtesy: Shutterstock

Earnings

Government

Pre-Market Outlook

BABA

BTBT

SLNH

VIPS

US Stocks Likely To Open Mixed: 'Volatility Doesn't Equal ...Financial Loss Unless You Sell,' Says Expert

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) AI-driven Visual Intelligence feature is reportedly coming to iPhone 15 Pro models in an upcoming iOS update.



What Happened: Apple Intelligence, the company's suite of AI-powered features, includes Visual Intelligence, which allows users to analyze objects, translate text, and search for information in real-time using their iPhone's camera.



While iPhone 16 and 16 Pro users can trigger the feature using a dedicated camera button, the iPhone 15 Pro and Pro Max and <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">newly launched</a> iPhone 16e lack this hardware.



See Also: <a href="https://in.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies">Apple Stock Has Run Up Over 10% In A Month, Jim Cramer Says iPhone Maker Is &#8216;Ramping&#8217; And The Credit Goes To Chinese Subsidies</a>



&#8220;Apple's solution to enable visual intelligence on the iPhone 16e, despite it lacking the Camera Control button, is two-fold. First, visual intelligence is now available in the Control Center. Second, as demonstrated by Apple in the announcement video, you can assign the Action Button to visual intelligence,&#8221; said Daring Fireball's John Gruber.



Gruber further said that Cupertino will likely assign Visual Intelligence to the Action button or use a Control Center shortcut, citing an Apple representative.



Apple hasn't confirmed which iOS version will bring Visual Intelligence to iPhone 15 Pro models, but Gruber speculates it may arrive in iOS 18.4, which could enter beta testing "any day now."



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Why It Matters: Apple's decision to extend Visual Intelligence to iPhone 15 Pro users reduces the pressure to upgrade to the iPhone 16 series for AI-driven camera enhancements.



Since its launch in September 2023, the iPhone 15 Pro series has seen significant adoption, with the Pro and Pro Max models accounting for 5.44% and 6.83% of the market by November 2024, <a href="https://www.statista.com/statistics/1447263/iphone-15-adoption-rate-by-model-worldwide/?__sso_cookie_checker=failed">according</a> to Statista.



Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



<ul>
<li><a href="https://in.benzinga.com/markets/25/02/43840286/apples-iphone-16e-to-drive-revenue-growth-for-tim-cooks-company-says-top-analyst">Apple&#8217;s iPhone 16e To Drive Revenue Growth For Tim Cook&#8217;s Company, Says Top Analyst</a></li>
</ul>



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



Photo courtesy: Shutterstock

Apple's Visual Intelligence May Come To iPhone 15 Pro: Here's How It Can Transform Your Camera With AI-Powered Real-Time Search

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 4.2% during the pre-market trading session on Friday following strong financial performance for the third quarter.



What Happened: The Chinese tech giant posted stellar results for the December quarter surpassing expectations. Alibaba&#8217;s third-quarter revenue grew 8% YoY to $38.38 billion, surpassing analyst estimates, while adjusted earnings per ADS of $2.93 beat consensus expectations of $2.66. The revenue for Alibaba's Cloud Intelligence Group witnessed a 13% year-on-year growth to $4.37 billion with revenue from AI-related products experiencing triple-digit growth for the sixth straight quarter.



The company&#8217;s CEO Eddie Wu&nbsp;stated, "This quarter's results demonstrated substantial progress in our ‘user first, AI-driven' strategies and the re-accelerated growth of our core businesses.&#8221;



Also, during the company&#8217;s third-quarter earnings call, CFO, Toby Xu, confirmed the 5% net reduction in share count. The Chinese tech behemoth repurchased $1.3 billion of its shares in the December quarter. This follows an approximate $10 billion in buybacks during the first half of fiscal 2024. The company still has $20.7 billion left in its buyback authorization. The buyback strategy was implemented as Alibaba reported $83.6 billion in cash reserves as of Dec. 31. 



SEE ALSO: <a href="https://www.benzinga.com/25/02/43772576/tesla-to-start-delivering-shanghai-made-refreshed-model-ys-next-week">Tesla&#8217;s Refreshed Model Y Rolls Off Shanghai Gigafactory, Deliveries To Start &#8216;Soon&#8217;</a>



Why It Matters: The stock has&nbsp;seen nearly an 80% surge over the past 12 months,&nbsp;bolstered by China&#8217;s&nbsp;economic stimulus measures and growing&nbsp;traction in Alibaba&#8217;s AI offerings. This growth in <a href="https://www.benzinga.com/25/02/43874037/alibaba-sees-ai-gold-rush-in-cloud-computing-not-open-and-closed-source-modelshints-monetization-lies-in-powering-ai-not-selling-it">AI offerings aligns with the company&#8217;s belief</a> that the real value in artificial intelligence will come from cloud infrastructure rather than the models themselves.



Moreover, CEO&nbsp;Eddie Wu&nbsp;revealed expectations that the company's International Commerce Unit would achieve profitability in the next fiscal year.



Meanwhile, Alibaba&#8217;s&nbsp;board-level capital management committee also continues&nbsp;to manage&nbsp;shareholder return initiatives through a&nbsp;mix&nbsp;of dividends, share buybacks, and&nbsp;strategic investments. 



The stock also surged in Hong Kong market on Friday as economists predict China's central bank could lower its main policy rate in March



Alibaba&#8217;s&nbsp;ADR closed at $135.97 on&nbsp;Thursday, gaining 8.09% for the&nbsp;day. In after-hours trading, the&nbsp;stock rose an additional 0.82%.&nbsp;Year to date, Alibaba shares&nbsp;have surged 60.06%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus</a></li>
</ul>



Image via Shutterstock



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



&nbsp;

BABA Stock Climbs Over 4% In Friday Pre-Market: What's Going On?

Leading coins jogged while stocks sank on Thursday as the Securities and Exchange Commission scaled back cryptocurrency oversight.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.63%</td><td>$98,192.29</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+0.43%</td><td>$2,734.93</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.68%</td><td>$0.2536</td></tr></tbody></table></figure>



What Happened: Bitcoin rose above $98,000 for the first time in a week, clocking an intraday high of $98,767.19.&nbsp;



Ethereum, meanwhile, oscillated in the $2,700 zone, hitting a peak of $2,770.03 for the day.



The market reacted to the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43857831/sec-scales-back-crypto-enforcement-expands-focus-to-cyber-fraud">SEC relaxing its enforcement approach</a>, replacing its cryptocurrency oversight unit with a smaller cyber fraud unit.



Cryptocurrency liquidations reached $249.79 million in the last 24 hours, with $171 in short positions getting wiped out.



Bitcoin's Open interest surged by 4.25%. Interestingly, the number of traders shorting the apex cryptocurrency was higher than those betting on its increase, according to the Long/Short ratio.



Meanwhile, the market sentiment flipped from "Neutral" to "Greed," according to the Crypto Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Story (IP)</td><td>+82.66%</td><td>$5.07</td></tr><tr><td>Berachain (BERA)</td><td>+28.83%</td><td>$8.42</td></tr><tr><td>Sonic (S)</td><td>+24.65%</td><td>$0.8704</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.23 trillion, rising 1.49 % in the last 24 hours.



Stocks reversed from record highs on Thursday. The S&amp;P 500 slid 0.43% to close at 6,117.52. The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65, while the tech-focused Nasdaq Composite dipped 0.47% to close at 19,962.36



The sell-offs <a href="https://in.benzinga.com/news/earnings/25/02/43869433/walmart-expects-slower-growth-in-an-uncertain-time-cfo-says-on-earnings-call">followed a grim fiscal 2026 forecast</a> by mega-retailer Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). Shares of the company plunged 6.53%.



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



Analyst Notes: Widely followed cryptocurrency analyst and trader Rekt Capital observed a bullish divergence was playing out for Bitcoin



"And a daily close above ~$97,700 followed by a successful retest would see the bull div enable price trend continuation to the upside," the chartist added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Bullish Divergence is playing out And a Daily Close above ~$97700 followed by a successful retest would see the Bull Div enable price trend continuation to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/pgvTNpVROK">https://t.co/pgvTNpVROK</a> <a href="https://t.co/tM5RiGxksD">pic.twitter.com/tM5RiGxksD</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1892666116922589556?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ali Martinez, another well-known market researcher, reiterated the prognosis.



He described $97,533 as a "key" resistance level for Bitcoin. "A sustained breakout above this level could signal further upside."



<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 most critical resistance level for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is currently at $97,533! A sustained breakout above this level could signal further upside. <a href="https://t.co/Fh8qIUtvZJ">pic.twitter.com/Fh8qIUtvZJ</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1892515036066672879?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by CMP_NZ on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43861405/dave-portnoy-calls-for-a-crypto-cleanup-but-heres-what-could-make-that-tricky">Dave Portnoy Calls For A &#8216;Crypto Cleanup,&#8217; But Here&#8217;s What Could Make That Tricky</a></li>
</ul>

$DOGE

Bitcoin Breaches $98K, Ethereum, Dogecoin Flat As SEC Relaxes Crypto Enforcement: Top Analysts Are Focused On This Level For A Potential BTC Upside

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) has achieved a significant 5% reduction in share count over the past nine months through <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">aggressive buyback initiatives</a>, demonstrating strong capital return commitment amid robust financial performance.



What Happened: The Chinese tech giant repurchased $1.3 billion worth of shares in the December quarter alone, following approximately $10 billion in buybacks during the first half of fiscal 2024. The company maintains substantial dry powder with $20.7 billion remaining in its buyback authorization.



&#8220;Combined with approximately $10 billion were purchased in the first half of this fiscal year, we had achieved a 5% net reduction in share count over the last nine months,&#8221; Chief Financial Officer Toby Xu stated during the company&#8217;s third-quarter earnings call.



See Also: <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">Rivian Automotive Q4 Earnings Highlights: Revenue Beat, EPS Beat, 2025 Guidance, R2 Update</a>



Why It Matters: The buyback strategy comes amid strong financial fundamentals, with Alibaba reporting $83.6 billion in cash reserves as of Dec. 31. The company&#8217;s <a href="https://www.benzinga.com/news/earnings/25/02/43846533/alibaba-q3-earnings-revenue-and-eps-beat-eyes-global-e-commerce-profitability-in-fy25-increase-investments-in-ai">third-quarter revenue</a> grew 8% year-over-year to $38.38 billion, exceeding analyst estimates, while adjusted earnings per ADS of $2.93 beat consensus expectations of $2.66.



Alibaba&#8217;s board-level capital management committee continues to oversee shareholder return initiatives through a combination of dividends, share buybacks, and strategic investments. The stock has gained 85% over the past 12 months, supported by China&#8217;s economic stimulus measures and growing traction in Alibaba&#8217;s AI offerings. 



Price Action: Alibaba&#8217;s ADR closed at $135.97 on Thursday, gaining 8.09% for the day. In after-hours trading, the stock rose an additional 0.82%. Year to date, Alibaba shares have surged 60.06%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 



Read Next: 



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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43861187/sp-500-vs-russell-2000-are-small-caps-set-for-a-breakout">S&amp;P 500 Vs. Russell 2000: Are Small Caps Set For A Breakout?</a></li>
</ul>



Image Via Shutterstock



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

Equities

BABAF

Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results

On Thursday, a federal judge turned down an appeal by several government employee unions seeking to halt the Trump administration&#8217;s plans to significantly downsize the federal workforce.



What Happened: U.S. District Judge&nbsp;Christopher Cooper&nbsp;ruled that the unions should bring their challenge to&nbsp;the Federal Labor Relations Authority, the body that oversees&nbsp;labor relations within the&nbsp;bureaucracy, instead of a federal&nbsp;district court, <a href="https://thehill.com/regulation/court-battles/5156080-judge-trump-mass-layoffs/?email=467cb6399cb7df64551775e431052b43a775c749&amp;emaila=12a6d4d069cd56cfddaa391c24eb7042&amp;emailb=054528e7403871c79f668e49dd3">reported</a> The Hill. 



This marks another victory for Trump&#8217;s Justice Department, which is currently defending against numerous lawsuits challenging various executive actions of the president, including efforts to cut spending and restructure government agencies.



The lawsuit, brought forward by the&nbsp;National Treasury Employees Union (NTEU), the&nbsp;National Federation of Federal Employees, the&nbsp;International Association of Machinists and&nbsp;Aerospace Workers, the&nbsp;International Federation of Professional &amp;amp; Technical Engineers&nbsp;and&nbsp;United Auto Workers, contested firings of probationary employees,&nbsp;the administration&#8217;s&nbsp;ambitions for additional mass firings,&nbsp;known as a reduction in&nbsp;force, and its offer&nbsp;for the majority of federal employees to&nbsp;accept a buyout.



Cooper refrained from expressing an opinion on the matters at hand but determined that the unions had pursued their case in an improper venue. He noted that while a district court review might offer a faster resolution, the NTEU had not explained why it couldn&#8217;t seek recourse through the FLRA on behalf of a group of plaintiffs. Additionally, he pointed out that the union acknowledged it would request other agencies to adhere to a favorable administrative judge&#8217;s decision.



See Also: <a href="https://www.benzinga.com/news/25/01/43314808/trump-memo-heard-around-the-world-how-us-economy-could-adjust-to-buyouts-for-federal-workers">Trump Memo Heard Around The World: How US Economy Could Adjust To Buyouts For Federal Workers</a>



Why It Matters: This favorable ruling follows a <a href="https://in.benzinga.com/markets/25/02/43579182/judge-blocks-trumps-bold-usaid-layoff-plan-saving-2200-workers-major-setback-for-america-first-agenda">series of legal setbacks</a> for the Trump administration&#8217;s workforce reduction plans. Earlier this month, a judge temporarily blocked Trump&#8217;s plan to place 2,200 U.S. Agency for International Development employees on paid leave. 



Additionally, the administration&#8217;s <a href="https://www.benzinga.com/news/legal/25/02/43542558/trumps-push-to-reshape-federal-workforce-with-buyouts-stalls-in-court">buyout plan</a> for federal employees was halted by a federal judge just hours before the acceptance deadline.



Image via Shutterstock



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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Trump's Federal Workforce Downsizing Plan Gets Green Light From Judge, Appeal By Unions Dismissed

Electric vehicle manufacturer Rivian Automotive reported fourth-quarter financial results after the <a href="https://www.benzinga.com/earnings">market close Thursday.</a>



Here are the key highlights.



What Happened: Rivian reported fourth-quarter revenue of $1.73 billion, beating a Street consensus estimate of $1.4 billion according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent022025&amp;t=be2bearmibe3na1">from Benzinga Pro.</a>



Revenue, which was a quarterly record, was boosted by software and services revenue growth and a higher average selling price for the company's R1 vehicles.



The company reported an adjusted loss of 46 cents per share in the quarter, beating a Street estimate of a loss of 65 cents per share.



Rivian achieved a gross profit of $170 million in the fourth quarter.



The company announced it closed on its joint venture with Volkswagen Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>). The joint venture has a total deal size of up to $5.8 billion.



Rivian also announced it opened sales of its commercial electric delivery vans to customers outside of Amazon.com.



Rivian previously <a href="https://www.benzinga.com/tech/25/01/42807694/rivian-reports-2nd-highest-quarterly-ev-deliveries-as-2024-wraps-up" target="_blank" rel="noreferrer noopener">reported fourth-quarter deliveries </a>of 14,183 EVs, which was the company&#8217;s second highest quarterly total. The company produced 12,727 vehicles in the fourth quarter.



The company finished 2024 with 51,579 deliveries. Full-year production was 49,476 vehicles.



"This quarter we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023. Our focus on cost efficiency across the business is critical for the launch of our mass market product," Rivian CEO RJ Scaringe said.



Read Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/02/43828581/rivian-q4-earnings-preview-profitability-progress-r2-launch-2025-outlook-and-key-factors-to-watch">Rivian Q4 Earnings Preview: Profitability Progress, R2 Launch, 2025 Outlook And Key Factors To Watch</a>



What's Next: The company said it remains focused on the following key drivers moving forward:



<ul>
<li>Drive towards profitability</li>



<li>Optimize operational efficiency</li>



<li>Technology leadership</li>



<li>Demand generation and enhancing the customer experience</li>
</ul>



Rivian is guiding for adjusted EBITDA of a loss of $1.9 billion to a loss of $1.7 billion for fiscal 2025. The company expects to have a "modest gross profit" for fiscal 2025.



Rivian said potential government policies and regulations are impacting 2025 expectations.



"While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term."



Rivian is guiding for deliveries of 46,000 to 51,000 vehicles in fiscal 2025.



"I couldn't be more excited about R2, and I believe the capabilities and cost efficiencies along with the amazing level of excitement from customers will make R2 a truly transformational product for Rivian," Scaringe said.



RIVN Price Action: Rivian stock is up 3.59% to $14.10 in after-hours trading Thursday versus a 52-week trading range of $8.26 to $18.86. The stock was down 14.4% over the last year heading into the earnings report Thursday.



Read Next: 



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<li><a href="https://www.benzinga.com/25/01/43279098/rivian-ceo-brushes-off-7500-electric-vehicle-tax-credit-concerns-evs-are-not-a-political-thing">Rivian CEO Downplays $7,500 EV Tax Credit Concerns: &#8216;Not A Political Thing&#8217;</a></li>
</ul>



The Rivian R2. Courtesy photo.

VWAGY

Rivian Automotive Q4 Earnings Highlights: Revenue Beat, EPS Beat, 2025 Guidance, R2 Update

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