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MAGNITE INC

Magnite

Magnite Inc is one of the supply-side platform providers, or SSP, in online advertising. The firm generate its revenue from the programmatic sale of CTV ad inventory, from mobile online sites and apps, and the remaining from websites accessed via computer.

Magnite Inc

Macro Economic Events

News

Econ #s

Economics

Eurozone Consumer Price Index (MoM) For May 0.0% Vs. 0.0% Est.; 0.6% Prior

Eurozone Core Consumer Price Index (YoY) For May 2.3% Vs. 2.3% Est.; 2.7% Prior

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy announced Tuesday that artificial intelligence will reduce the company&#8217;s corporate workforce due to efficiency gains, prompting immediate criticism from employees across internal communication channels.
What Happened: Jassy told employees that AI will shrink Amazon&#8217;s white-collar workforce over the next few years. According to Business Insider, which <a href="https://www.businessinsider.com/amazon-employees-criticize-ceo-jassys-ai-driven-job-cutting-plan-2025-6">viewed</a> internal Slack messages across three channels, employees criticized the announcement.
&#8220;There is nothing more motivating on a Tuesday than reading that your job will be replaced by AI in a few years,&#8221; one employee wrote. Others questioned whether senior leadership would face similar reductions, noting Amazon&#8217;s S-team has expanded under Jassy.
Some employees supported the move. &#8220;At least he said the quiet part out loud,&#8221; another worker commented. &#8220;We all knew it but now it&#8217;s clearly part of the plan.&#8221;
 Jassy <a href="https://www.benzinga.com/markets/tech/25/06/45982631/amazon-ceo-says-generative-ai-will-reduce-total-corporate-workforce">highlighted in his Tuesday blog post</a> that Amazon has over 1,000 generative AI services and applications in progress. The company&#8217;s AI-driven Alexa+ serves tens of millions of customers worldwide, while over 50,000 advertisers used AI capabilities in the first quarter alone.
Amazon did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45990167/jamie-dimon-sounds-alarm-on-us-immigration-policies-obsolete-tech-in-defense-strategy-well-be-out-of-missiles-in-seven-days">Jamie Dimon Sounds Alarm On US Immigration Policies, Obsolete Tech In Defense Strategy: &#8216;We&#8217;ll Be Out Of Missiles In Seven Days&#8230;&#8217;</a>
Why It Matters: The announcement comes amid Amazon&#8217;s massive AI infrastructure investments. The company <a href="https://www.benzinga.com/markets/equities/25/06/45943758/amazon-commits-13-billion-to-expand-australias-ai-data-center-infrastructure">committed $13 billion to expand Australia&#8217;s data center</a> infrastructure through 2029, following recent commitments including $10 billion in North Carolina.
In April, Jassy called AI investments a <a href="https://www.benzinga.com/news/management/25/04/44746436/amazon-ceo-justifies-large-ai-investments-as-once-in-a-lifetime-reinvention-of-everything-we-know">&#8220;once-in-a-lifetime reinvention of everything we know,&#8221;</a> emphasizing the need for substantial capital to secure AI chips and build data centers during high-demand periods.
Amazon froze retail hiring budgets this year while expanding AI capabilities, according to the report. 
Read Next:
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<li><a href="https://www.benzinga.com/news/topics/25/06/45990130/kim-jong-un-meets-russian-security-chief-shoigu-in-pyongyang-confirms-support-for-ukraine-operations-under-strategic-pact">Kim Jong Un Meets Russian Security Chief Shoigu In Pyongyang, Confirms Support For Ukraine Operations Under Strategic Pact</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Markus Mainka / Shutterstock.com

Equities

Markets

AMZN

Amazon CEO Andy Jassy's AI-Led Job Cuts Warning Sparks Backlash As Employee Reportedly Says 'It's Clearly Part Of The Plan'

A federal judge has ruled that the Trump administration's decision to cancel more than $1 billion in research grants from the National Institutes of Health (NIH) was unlawful. The move, disproportionately impacting diversity-related studies, was <a href="https://www.benzinga.com/general/biotech/25/02/43618745/us-states-sue-national-institutes-of-health-over-4-billion-annual-cut-in-biomedical-research-grant-budget">challenged by states</a>, academic institutions and civil rights organizations.
What Happened: On Monday, U.S. District Judge William Young ruled that the NIH had acted unlawfully, cancelling grants linked to diversity, equity, and inclusion (DEI) initiatives, according to <a href="https://www.nbcnews.com/science/science-news/judge-deems-trumps-cuts-national-institutes-health-illegal-rcna213360">a</a> NBC report.
The judge said the cancellations were "void and illegal" and issued orders to immediately reinstate relevant grants for the plaintiffs involved in the case.
"You are bearing down on people of color because of their color," Young said during the proceedings. "The Constitution will not permit that." He went on to condemn the cuts as discriminatory toward racial minorities and the LGBTQ community.
See Also: <a href="https://www.benzinga.com/markets/market-summary/25/06/45988507/trump-demands-irans-uncoditional-surrender-stock-futures-remain-steady-defense-shares-trade-higher-in-after-hours-trading">Trump Demands Iran&#8217;s &#8216;Unconditional Surrender&#8217; — Stock Futures Remain Steady, Defense Shares Trade Higher In After-Hours Trading</a>
Why It Matters: The NIH is the world's largest funder of biomedical research. Since President <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/45069781/trumps-first-100-days-what-he-delivered-where-he-fell-short-how-markets-reacted">Donald Trump assumed office</a>, it has <a href="https://www.benzinga.com/25/03/44200499/national-institutes-of-health-terminates-some-research-grants-amid-political-and-policy-shift">terminated around 2,100 grants</a> amounting to $9.5 billion and suspended another $2.6 billion in contracts.
Many of the canceled grants funded research on DEI programs, transgender healthcare, vaccine hesitancy, and COVID-19. The judge's decision will impact hundreds of grants, according to the American Civil Liberties Union, which represented the plaintiffs, including 16 states led by Massachusetts and the American Public Health Association.
While the court addressed only a section of the legal challenges, Judge Young hinted that he may issue broader orders as the case continues. The impact of the funding cuts has already led to hiring freezes, layoffs and halted research at universities around the country.
Read Next:
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<li><a href="https://www.benzinga.com/news/politics/25/06/45967060/senate-republicans-unveil-trump-tax-and-health-plan-with-5-trillion-debt-ceiling-hike-tighter-medicaid-rules-in-the-big-beautiful-bill">Senate Republicans Unveil Trump Tax And Health Plan With $5 Trillion Debt Ceiling Hike, Tighter Medicaid Rules In The &#8216;Big, Beautiful Bill&#8217;</a></li>
</ul>
Photo courtesy: Joey Sussman / Shutterstock.com

Legal

Trump Administration Illegally Slashed Over $1 Billion In NIH Grants Mostly Linked To DEI, Federal Judge Rules: Report

ADBE

INFY

Infosys Aster And Adobe Launch AI-Powered Joint Offering To Unify Customer Experience, Personalize Content, And Streamline Marketing Workflows

RYDE

Ryde Acquires 40% Stake In Atoll Discovery To Boost EV Rental Expansion And Green Mobility In Singapore

SSNC

Wesleyan Taps SS&C Hubwise To Launch Digital-First Wealth Platform, Expanding 20-Year Partnership And Adviser Offerings

Ursula von der Leyen, the President of the European Commission, has criticized China for its export restrictions on vital raw materials used in the production of cars, batteries, and wind turbines. The move, she says, is disrupting global trade and undermining competition.
What Happened:&nbsp;Von der Leyen, during&nbsp;a session on the global&nbsp;economy at the G7 summit&nbsp;in Kananaskis, Canada, on Monday, condemned China for using subsidies to bolster its companies,&nbsp;<a href="https://www.politico.eu/article/donald-trump-china-ursula-von-der-leyen/">Politico</a>&nbsp;reported. She accused China of &#8220;weaponizing&#8221; its dominant position in the production and refining of critical raw materials and flouting global trade regulations to undercut rivals.
Since April, China has sharply reduced exports of permanent magnets and the critical minerals needed to manufacture them. This action—retaliation against tariffs introduced by U.S. President Donald Trump—has had far-reaching consequences, affecting not just the U.S. but also Europe.
"On this point, Donald is right — there is a serious problem," stated Von der Leyen as she urged Trump to collaborate with allies to address China&#8217;s trade imbalances rather than imposing tariffs on them. She also warned of a &#8220;new China shock,&#8221; accusing Beijing of saturating global markets with low-cost, state-backed goods and urged G7 nations to confront its growing dominance in the raw materials industry.
SEE ALSO: <a href="https://benzinga.com/crypto/25/06/45988123/bitcoin-ethereum-dogecoin-dip-as-investors-jittery-over-us-involvement-in-iran-israel-conflict-analyst-says-btcs-reclaim-of-106000-is-where-the-party-happens" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip As Investors Jittery Over US Involvement In Iran-Israel Conflict : Analyst Says BTC&#8217;s Reclaim Of $106,000 Is &#8216;Where The Party Happens&#8217; </a>
Why It Matters: The EU&#8217;s stance on China&#8217;s trade practices is a significant shift from its previous position. In April, there were concerns that&nbsp;China might exploit the <a href="https://www.benzinga.com/news/global/25/04/44892820/xi-jinping-could-woo-europe-with-a-potential-china-deal-to-undercut-trumps-tariff-strategy-expert-warns">strained U.S.-EU </a>relations&nbsp;to its advantage. However, the EU&#8217;s strong stance against China&#8217;s trade practices suggests a potential alignment with the U.S. on this issue.
Trump&#8217;s trade war with China has also strained U.S.-EU relations. In May, Trump referred to the&nbsp;European Union as<a href="https://www.benzinga.com/25/05/45368461/trump-calls-eu-nastier-than-china-days-after-praising-ursula-von-der-leyen-as-fantastic-says-us-holds-all-the-cards-in-trade-standoff"> &#8220;nastier than China,&#8221;</a> asserting that the U.S. holds the upper hand in trade agreements with the EU. This statement came just days after he had praised von der Leyen as &#8220;fantastic.&#8221;
The EU has also taken a firm stance in its trade negotiations with the U.S. In April, von der Leyen&nbsp;threatened to impose levies on <a href="https://www.benzinga.com/markets/25/04/44784857/eu-threatens-additional-taxes-on-us-tech-giants-amid-ongoing-tariff-war-we-are-developing-retaliatory-measures-says-von-der-leyen">U.S. tech giants</a>&nbsp;such as Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) if the ongoing tariff negotiations with the Trump administration failed to be resolved. This firm stance by the EU, coupled with its current position on China&#8217;s trade practices, suggests a significant shift in global trade dynamics.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/topics/25/06/45983442/fox-business-host-admits-if-you-deport-everybody-whos-here-illegally-that-would-decimate-some-industr" target="_blank" rel="noreferrer noopener">Fox Business Host Admits: &#8216;If You Deport Everybody Who&#8217;s Here Illegally, That Would Decimate Some Industries&#8217;</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.

GOOG

GOOGL

'On This Point, Donald Is Right,' Says EU Chief As She Slams China's Trade Practices At G7, Urges Trump To Join Forces

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), operating under the Strategy brand, has expanded its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury to 592,100 BTC following a $1 billion purchase funded primarily through its new Stride preferred stock (STRD) offering.
What Happened: The corporate Bitcoin treasury company completed the acquisition last week using proceeds from its upsized $1 billion perpetual preferred stock issuance, <a href="https://www.theblock.co/post/358598/strategys-strd-offerings-mstr-shareholders-td-cowen">reported</a> The Block. 
TD Cowen analysts said the STRD offerings will &#8220;prove highly accretive&#8221; to MSTR shareholders and &#8220;establishes a channel for future high yield funds flows into Bitcoin,&#8221; the report noted. 
Strategy&#8217;s latest preferred instrument offers a fixed 10% non-cumulative annual dividend and ranks below the company&#8217;s senior preferred shares but above common equity, according to the report. The STRD product joins Strategy&#8217;s existing preferred offerings: convertible STRK with an 8% dividend and <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45749340/strategy-launches-strd-preferred-stock-offering-10-yield">non-convertible STRF with a 10% cumulative dividend</a>.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45989577/salesforce-raises-enterprise-software-prices-6-as-company-pushes-ai-powered-agentforce-platform">Salesforce Raises Enterprise Software Prices 6% As Company Pushes AI-Powered Agentforce Platform</a>
Why It Matters: TD Cowen analysts consider the securities &#8220;very safe,&#8221; noting Strategy holds $63 billion in underlying Bitcoin value against $11.6 billion in total debt plus preferred stock outstanding, according to the report. The firm maintains a &#8220;buy&#8221; rating with a $590 price target on MSTR shares.
Chairman Michael Saylor targets a long-term leverage ratio of 20% to 30% through fixed income securities as part of the company&#8217;s &#8220;42/42&#8221; plan to raise $84 billion through 2027 for Bitcoin acquisitions.
The preferred stock strategy capitalizes on what Saylor described to the Financial Times as a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45417306/michael-saylors-bitcoin-strategy-infinite-money-glitch-or-a-reflexive-leverage-bet">&#8220;quadratically reflexive, engineered instrument&#8221;</a> that allows Strategy to issue shares at premiums to Bitcoin&#8217;s value, effectively acquiring BTC at discounts.
Price Action: MSTR stock closed at $375.18 on Tuesday, down 1.85% for the day. In pre-market trading, the stock edged up 0.14% to $375.71. Year to date, MSTR shares have gained 25.06%.
MSTR shows strong momentum based on price movement and volatility. See <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">where it ranks among the top 20 momentum stocks</a> on Benzinga Edge Stock Rankings.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="882" height="628" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18042136/image-275.png" alt="" class="wp-image-953478" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18042136/image-275.png 882w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18042136/image-275-300x214.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/18042136/image-275-768x547.png 768w" sizes="(max-width: 882px) 100vw, 882px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45989519/elon-musk-blames-ai-hype-for-1-billion-startup-valutions-there-are-so-many-frickin-unicorns">Elon Musk Blames AI Hype For $1 Billion Startup Valuations: &#8216;There Are So Many Frickin-Unicorns&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Mamun_Sheikh / Shutterstock.com

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

Cryptocurrency

$BTC

MSTR

Michael Saylor's Strategy Nears 600,000 Bitcoin After $1 Billion Buy Funded By High-Yield IPO, Says TD Cowen Sees 'Very Safe' Upside

A widely followed chartist predicted a bullish breakout for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) on Tuesday, painting bold targets at $0.6533 and even $1.25, despite the meme coin&#8217;s corrective price action of late.
What Happened: In an X post, Javon Marks said that the dog-themed cryptocurrency continues to hold a bullish pattern and breakout, which could potentially lead to a &#8220;massive move&#8221; toward the $0.6533 level. This would represent a 280% run from its current price.
&#8220;But that may not be the end,&#8221; Marks added. &#8220;With the post-breakout chop, these prices may break above this target, bringing in play $1.25!&#8221; The $1.25 level was nearly 632% away as of this writing. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> (Dogecoin)&#39;s prices are CONTINUING TO HOLD A BULLISH PATTERN &amp; BREAKOUT and a MASSIVE MOVE TOWARDS $0.6533 can take place in result! As prices continue to hold Higher Lows, this hints that Dogecoin is still in an uptrend and as the breakout holds, this gives a target where… <a href="https://t.co/yy7NsrbuXi">https://t.co/yy7NsrbuXi</a> <a href="https://t.co/vNyO2ej0ZI">pic.twitter.com/vNyO2ej0ZI</a>
&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1935145020245283181?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The bullish forecast was also echoed by popular cryptocurrency trader Trader Tardigrade, who noted DOGE forming a falling wedge pattern.
A falling wedge is a bullish pattern that suggests potential upward price movement and a reversal from an existing downtrend.
&#8220;The downward momentum has gradually decreased as it nears the wedge&#8217;s apex,&#8221; the trader added. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> has formed a Falling Wedge, pointing onto a swing low support &#x1f525; The downward momentum has gradually decreased as it nears the wedge&#39;s apex.<a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a>/H4 <a href="https://t.co/cYIZLSKnK8">pic.twitter.com/cYIZLSKnK8</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1934903868917469526?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45988984/anthony-scaramucci-quotes-harry-truman-to-take-a-sly-dig-at-trumps-recent-ventures-show-me-a-man-that-gets-rich-by-being-a-politician" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Quotes Harry Truman To Take A Sly Dig At Trump&#8217;s Recent Ventures? — &#8216;Show Me A Man That Gets Rich By Being A Politician…&#8217;</a>
Why It Matters: These optimistic projections contrasted with DOGE&#8217;s ongoing price action. The largest meme coin by market capitalization has tumbled over 15% in a week <a href="https://www.benzinga.com/crypto/25/06/45988123/bitcoin-ethereum-dogecoin-dip-as-investors-jittery-over-us-involvement-in-iran-israel-conflict-analyst-says-btcs-reclaim-of-106000-is-where-the-party-happens">owing to the geopolitical tensions caused by the Iran-Israel conflict</a>.
The balance held by long-term holders of the coin declined 0.88% in the last 24 hours, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock, suggesting that diamond hands were selling.
Additionally, the Moving Average Convergence Divergence indicator, which&nbsp;compares an asset&#8217;s short-term price to its long-term price, flashed a &#8220;Sell&#8221; signal for DOGE, <a href="https://in.tradingview.com/symbols/DOGEUSDT/technicals/">according</a> to TradingView. 
On the other hand, the Commodity Channel Index, which measures the difference between the current price and the historical average price, signaled a &#8220;Buy.&#8221;
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $0.1707, down 1.34% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Year-to-date, the cryptocurrency has lost over 47% of its value. 
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/25/06/45988123/bitcoin-ethereum-dogecoin-dip-as-investors-jittery-over-us-involvement-in-iran-israel-conflict-analyst-says-btcs-reclaim-of-106000-is-where-the-party-happens" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip As Investors Jittery Over US Involvement In Iran-Israel Conflict : Analyst Says BTC&#8217;s Reclaim Of $106,000 Is &#8216;Where The Party Happens&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo Courtesy: Piotr Gortat On Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Movers

Trading Ideas

$DOGE

Dogecoin Price Tumbles 15% In A Week, But This Analyst Says $1.25 Target Could Still Be In Play

<h3>Companies Reporting Before The Bell</h3>
• Euroseas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>) is likely to report quarterly earnings at $3.10 per share on revenue of $53.83 million. 
• Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) is projected to report quarterly earnings at $1.26 per share on revenue of $689.89 million. 
• GMS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) is likely to report quarterly earnings at $1.11 per share on revenue of $1.30 billion. 
• LiveOne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LVO#NASDAQ">LVO</a>) is projected to report quarterly loss at $0.04 per share on revenue of $22.80 million. 
• Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) is projected to report earnings for its fourth quarter. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ESEA

Earnings Scheduled For June 18, 2025

MakeMyTrip Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>, the "Company" or "MakeMyTrip")), the "Company" or "MakeMyTrip"), today announced the upsize and pricing of its previously announced underwritten registered public offering (the "Primary Equity Offering") of ordinary shares of the Company, par value US$0.0005 per share (the "Primary Shares"). The size of the offering increased from the previously announced offering of 14,000,000 ordinary shares to 16,000,000 ordinary shares, at an offering price of US$90 per ordinary share. The underwriters have been granted a 13-day option to purchase up to 2,400,000 additional ordinary shares. The Primary Equity Offering is expected to close on June 23, 2025, subject to customary closing conditions.
The Company also announced today by separate press release the pricing of an offering of 0.00% convertible senior notes in an aggregate principal amount of US$1.25 billion due 2030 (the "Notes Offering") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company has granted the initial purchasers in the Notes Offering an option to purchase up to an additional US$187.5 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.
MakeMyTrip estimates that the net proceeds from the Primary Equity Offering will be approximately US$1.41 billion, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company (or approximately US$1.62 billion if underwriters exercise in full their option to purchase additional ordinary shares). The Company plans to use all of the net proceeds from the Primary Equity Offering and the Notes Offering for the Repurchase (as described below) of a portion of the Class B shares of the Company from Trip.com Group Limited ("Trip.com").
Repurchase
MakeMyTrip plans to use all of the net proceeds from the Primary Equity Offering and the Notes Offering to repurchase a portion of its Class B shares from Trip.com at a price per Class B share based on the offering price per ordinary share in the Primary Equity Offering after deducting underwriting discounts and commissions per ordinary share in the Primary Equity Offering (such transaction, the "Repurchase"). The Repurchase will be made pursuant to the Share Repurchase Agreement entered into on June 16, 2025 between MakeMyTrip and Trip.com.

Offerings

MMYT

MakeMyTrip Upsizes Offering to 16M Shares (From Prior 14M) at $90 Each, Plans $1.25B Bond Sale To Buy Back Stock From Trip.com

<a href="https://adunaglobal.com/">Aduna</a>, the global aggregator of network APIs, today announced that leading global system integrators, <a href="http://www.wipro.com/">Wipro</a>&nbsp;and <a href="https://www.techmahindra.com/services/artificial-intelligence/">Tech Mahindra</a> have joined its partner ecosystem. This strategic collaboration highlights the critical role GSIs play in scaling enterprise adoption and enabling mobile operator participation in the emerging network API economy.
&nbsp;
As trusted advisors to Fortune 500 companies and long-time partners to telecom operators, Tech Mahindra and Wipro will integrate Aduna's harmonized network APIs, including SIM Swap, Number Verification, Device Location, and Quality on Demand into enterprise transformation initiatives across industries such as financial services, manufacturing, logistics, and public sector.

Wipro and Tech Mahindra Team Up With Aduna to Help Businesses Use Mobile Networks Smarter

The CEO of JPMorgan Chase &amp; Co., Jamie Dimon, has criticized the United States&#8217; immigration policies and outdated defense tech, warning of potential economic vulnerabilities.
What Happened:&nbsp;Dimon, at the Data + AI Summit 2025 in San Francisco last week, expressed his concern about the immigration policies of the U.S. 
Dimon, who perceives immigration as a crucial factor for a thriving America, expressed his support for &#8220;merit-based immigration,&#8221; drawing examples from his Greek immigrant grandparents. He stressed the importance of a strong economy, underpinned&nbsp;by immigration, education and technological&nbsp;innovation, for preserving America&#8217;s essential role.
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<iframe loading="lazy" title="Jamie Dimon Chairman and CEO of JPMorgan Chase at Data + AI Summit" width="500" height="281" src="https://www.youtube.com/embed/0hT-FJ7Ay4Y?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
"People come here to be Americans, and it&#8217;s the natural thing, freedom of speech and freedom of enterprise and freedom," he added.
The CEO, who is known for his outspoken views, particularly on economic matters, also highlighted the potential risks the U.S. faces in a military context. He pointed out critical gaps in the country&#8217;s defense capabilities, such as a potential depletion of the&nbsp;missile stockpile in just seven&nbsp;days in a potential South China Sea conflict.
Furthermore, Dimon pointed out the potential obsolescence of&nbsp;traditional assets like aircraft carriers&nbsp;due to emerging technologies such as drones,&nbsp;calling for more agile procurement&nbsp;processes to keep up with these innovations. He criticized the lack of backup manufacturing for critical defense components and the shortage of skilled labor, including welders needed for building naval ships.
The JPMorgan CEO also enumerated several policies that America has not managed well. "We don&#8217;t do mortgage policies well, we didn&#8217;t do immigration policies well, we don&#8217;t do affordable housing policies well…we don&#8217;t teach work skills properly."
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/equities/25/06/45967694/amex-just-teased-its-biggest-platinum-card-update-ever-heres-what-millennials-and-gen-z-can-expe" target="_blank" rel="noreferrer noopener">Amex Just Teased Its Biggest Platinum Card Update Ever—Here&#8217;s What Millennials And Gen Z Can Expect</a>
Why It Matters: Dimon&#8217;s critique comes in the wake of President Donald Trump&#8216;s <a href="https://www.benzinga.com/news/politics/25/06/45943800/trump-orders-ice-to-launch-the-single-largest-mass-deportation-program-in-history-targeting-los-angeles-chicago-and-new-york">directive to ICE</a> to conduct &#8220;the single largest Mass Deportation Program in History,&#8221; targeting cities like Los Angeles, New York, and Chicago. These cities, labeled as &#8220;Democrat Power Centers,&#8221; were accused of using immigrants to &#8220;expand their Voter Base, cheat in Elections, and grow the Welfare State.&#8221;
Meanwhile, considering the critical role of the U.S. in the intensifying Israel-Iran conflict, the JPMorgan CEO&#8217;s comments on technological obsolescence in warfare is particularly notable. 
Earlier in April 2025, Dimon had addressed President Trump&#8217;s <a href="https://www.benzinga.com/25/04/45071155/mild-recession-is-best-case-outcome-jpmorgan-ceo-jamie-dimon">trade policies</a> in a private session with more than 500 investors. He had indicated that a mild recession might be the best-case outcome of the ongoing trade war.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45988984/anthony-scaramucci-quotes-harry-truman-to-take-a-sly-dig-at-trumps-recent-ventures-show-me-a-man-that-gets-rich-by-being-a-politician" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Quotes Harry Truman To Take A Sly Dig At Trump&#8217;s Recent Ventures? — &#8216;Show Me A Man That Gets Rich By Being A Politician…&#8217; &#8211; Benzinga</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.

Jamie Dimon Sounds Alarm On US Immigration Policies, Obsolete Tech In Defense Strategy: 'We'll Be Out Of Missiles In Seven Days...'

Smith+Nephew ((LSE:SN, NYSE:<a href="https://www.benzinga.com/stock/SNN#NYSE">SNN</a>), the global medical technology company, today announces a strategic partnership with Standard Health <a href="https://www.globenewswire.com/Tracker?data=qiXfg6FsskQXmFnajI24T76pNo7VvqmsK2GThUEKa8Ml7puxohMXaaaFw9OZIlyusy1zv-fVbtEisEyQ6HyuqaKDSubzu7S15Ow5X795jJh_CVQJfv82Agc24RSnK1hZ">www.standardhealth.co.uk</a> to support the development of the first-ever Orthopaedic Ambulatory Surgery Centre in the UK. Based in Poole, Dorset, the new centre will offer NHS and private patients access to leading joint repair and replacement technology for conditions such as rotator cuff repair, ACL reconstruction, knee and hip replacements, and foot &amp; ankle/hand &amp; wrist procedures.
Standard Health is a clinical healthcare provider, responsible for site development and operation of the facility with Smith+Nephew supplying its innovative portfolio of medical technologies. Standard Health expects to open a further 10 additional UK sites in the following three years and 20 in total by 2030.
The new centre in Poole will cover day and overnight-stay cases which make up the vast majority of orthopaedic procedures. It will mirror the Ambulatory Surgery Center (ASC) model in the US, where Smith+Nephew is a major partner to many sports medicine and orthopaedic facilities. Benefits derived from US-based ASC settings for both HCPs and their patients are well documented, and may include:
<ul>
<li>Greater procedural efficiency due to streamlined workflows1</li>
<li>A 92% patient satisfaction rate for both care and service received from ASCs1</li>
<li>Decreased costs to the health system. In the US, outpatient joint replacements at ASCs reduce the costs of joint replacements by 40% compared to hospital-based surgery.2</li>
</ul>
There are currently more than 6,000 ASCs in the United States that account for greater than 50% of all outpatient surgical procedures.3,4 The Orthopaedic Ambulatory Surgery Centre in Poole is expected to open in 2025 and serve thousands of patients per calendar year, with the majority being NHS referrals. There are currently more than 850,000 people waiting for orthopaedic surgery in the UK.5 As a result, the NHS commissioning landscape is reliant on independent providers to address this demand.

Smith+Nephew Backs UK's First Orthopaedic Surgery Center to Cut NHS Wait Times and Speed Up Joint Care

Integral Ad Science (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>), a leading global media measurement and optimization platform, today announced the launch of new contextual category reporting for Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), expanding measurement reporting across Facebook and Instagram Feed and Reels. This launch demonstrates IAS and Meta's continued collaboration to deliver trusted, independent third-party measurement and optimization tools to support advertisers' brand suitability and performance goals, by aligning measurement reporting to contextual categories available through <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4451414-1&amp;h=1268933381&amp;u=https%3A%2F%2Fintegralads.com%2Fnews%2Fias-meta-optimization-solution%2F&amp;a=IAS%27s+first-to-market+Content+Block+List+optimization+solution+for+Meta">IAS's first-to-market Content Block List optimization solution for Meta</a>.

Integral Ad Science Expands Meta Partnership to Help Brands Measure Ads on Facebook and Instagram

North Korean leader Kim Jong Un met with Russian Security Council Secretary Sergei Shoigu in Pyongyang on Tuesday, marking the first anniversary of the comprehensive strategic partnership treaty between the Democratic People&#8217;s Republic of Korea and the Russian Federation.
What Happened: Shoigu delivered a verbal message from Russian President Vladimir Putin during the meeting, which focused on immediate cooperation plans and long-term strategic initiatives between the two nations, <a href="http://rodong.rep.kp/en/index.php?MTJAMjAyNS0wNi0xOC0wMDlAMTVAMUBAMEAxQA==">according</a> to state media KCNA. 
The discussions included operational support for Russian forces in Ukraine&#8217;s Kursk region, where North Korean troops have been deployed.
The meeting comes as North Korea has emerged as Russia&#8217;s primary military ally in the Ukraine conflict, surpassing China in strategic importance <a href="https://www.benzinga.com/news/24/09/40894933/kim-jong-uns-north-korea-outranks-china-as-russias-top-ally-in-ukraine-conflict-says-military-intell">according to Ukrainian military intelligence</a>. North Korean forces have provided millions of artillery shells and ballistic missiles to Russian operations.
See Also: <a href="https://www.benzinga.com/news/topics/25/06/45988985/israel-says-it-struck-iranian-centrifuge-site-missile-factories-near-tehran-with-over-50-jets-to-disrupt-weapons-program">Israel Says It Struck Iranian Centrifuge Site, Missile Factories Near Tehran With Over 50 Jets To Disrupt Weapons Program</a>
Why It Matters: Kim Jong Un confirmed North Korea&#8217;s continued cooperation within the treaty framework and accepted relevant operational plans discussed during the talks. 
President Donald Trump recently criticized Putin&#8217;s actions in Ukraine, calling the Russian leader &#8220;absolutely crazy&#8221; and signaling potential sanctions escalation. Trump&#8217;s shift toward tougher penalties on Moscow contrasts with his previous diplomatic approach, reflecting growing pressure as <a href="https://www.benzinga.com/25/05/45604616/trump-blasts-putin-as-absolutely-crazy-after-deadly-russian-airstrikes-on-ukraine-signals-possible-shift-toward-tougher-sanctions">ceasefire talks remain stalled</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45965418/lockheed-martins-f-35-jets-spark-outcry-in-madison-as-pentagon-rejects-18-million-noise-mitigation-grant">Lockheed Martin&#8217;s F-35 Jets Spark Outcry In Madison As Pentagon Rejects $18 Million Noise Mitigation Grant</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Global

iShares Dow Jones US Aerospace & Defense Index Fund

Kim Jong Un Meets Russian Security Chief Shoigu In Pyongyang, Confirms Support For Ukraine Operations Under Strategic Pact

Cluely, the controversial AI startup known for marketing itself as a tool to "cheat on everything," had its latest stunt shut down by San Francisco police before it could even start.
What Happened: On Monday night, Cluely CEO Roy Lee attempted to host an after-party for attendees of Y Combinator's AI Startup School, which featured tech heavyweights like Sam Altman, Satya Nadella and Elon Musk, <a href="https://techcrunch.com/2025/06/17/police-shut-down-cluelys-party-the-cheat-at-everything-startup/">reported</a> TechCrunch.
Although Cluely is not affiliated with YC, Lee promoted the party on X to his 100,000 followers, saying to DM him for invites.
"We only invited friends and friends of friends," Lee told the publication, adding that despite this "it just blew up way out of proportion."
See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45988600/mark-zuckerbergs-meta-dangled-100-million-signing-bonuses-to-openai-team-members-says-sam-altman-happy-none-of-our-best-people-took-them" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Dangled ‘$100 Million Signing Bonuses' To OpenAI Team Members, Says Sam Altman: Happy ‘None' Of Our Best People Took Them</a> According to Lee, over 2,000 people showed up, crowding the streets and blocking traffic. Police responded by shutting the event down before it began.&nbsp;
"Cluely's aura is just too strong!" Lee was heard shouting outside as the party dissolved.
<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">"our aura too strong!" <a href="https://twitter.com/im_roy_lee?ref_src=twsrc%5Etfw">@im_roy_lee</a> heard shouting as SF cops shut down <a href="https://twitter.com/cluely?ref_src=twsrc%5Etfw">@cluely</a>'s party before it even started up <a href="https://t.co/KQQyz5YRgh">pic.twitter.com/KQQyz5YRgh</a>
&mdash; Josh Constine &#x1f4f6;&#x1f525; (@JoshConstine) <a href="https://twitter.com/JoshConstine/status/1934850793611645241?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Lee told the outlet that it had the potential to be the most iconic party in tech history — and perhaps, thanks to the story's lasting buzz, it has become &#8220;the most legendary party&#8221; that never actually took place.&nbsp;
Taking to social media he posted, "Hosted the greatest party that never was."
<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">hosted the greatest party that never was
&mdash; Roy (@im_roy_lee) <a href="https://twitter.com/im_roy_lee/status/1934913328557806009?ref_src=twsrc%5Etfw">June 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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's Important: Lee first gained local notoriety in San Francisco after a tweet of his went viral on X: he claimed Columbia University had suspended him and his co‑founder for building an AI tool that could game software‑engineering job interviews, the report said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just got kicked out of Columbia for taking a stand against Leetcode interviews. Here&#39;s the whole story (long thread): <a href="https://t.co/Q7LPWjwyA7">pic.twitter.com/Q7LPWjwyA7</a>
&mdash; Roy (@im_roy_lee) <a href="https://twitter.com/im_roy_lee/status/1905063484783472859?ref_src=twsrc%5Etfw">March 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The pair then spun that tool into a startup that runs a discreet browser window invisible to interviewers or proctors. Their marketing—initially infamous for the slogan "cheat on everything"—quickly caught fire online.
In April, the company, now called Cluely, secured a $5.3 million seed round, and its tagline has softened to: "Everything you need. Before you ask," the report added.
Photo Courtesy: Melinda Nagy on Shutterstock.com
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 class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45988833/iran-says-whatsapp-a-tool-for-israeli-surveillance-meta-hits-back-calling-it-false-reports">Iran Says WhatsApp A Tool For Israeli Surveillance — Meta Hits Back, Calling It &#8216;False Reports&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Media

'The Greatest Party That Never Was' — Police Shutdown Bash Hosted By 'Cheat On Everything' AI Tool Cluely

<ul>
<li>Nokia Autonomous Network Fabric brings together all the capabilities required to accelerate the journey to full network automation in an open, cloud-native, multi-vendor environment.</li>
<li>Key features include a library of cross-domain correlated data products, telco-trained models (LLM/LAM/ML), integrated security, and AI apps for automation workflows.</li>
<li>Nokia announces an expanded collaboration with Google Cloud that will make Nokia's Autonomous Network Fabric available to deploy anywhere customers need it, on Google Cloud, on premises, and in hybrid cloud environments.</li>
</ul>

Nokia Launches Autonomous Network Fabric With Telco-Trained AI, Google Cloud Partnership, And Real-Time Automation Capabilities

Strategic Collaboration Brings Precision Micro-Neighborhood Targeting Healthcare Consumer Audiences to Linear and Connected TV

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