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Stellantis

Stellantis was created out of the merger of US-based Fiat Chrysler Automobiles, or FCA, and French-based Peugeot, or PSA, in January 2021, resulting in the fourth-largest automotive original equipment manufacturer, or OEM, by vehicle sales. In 2023 it sold 6.4 million vehicles, 44% and 30% in Europe and North America, respectively. North America is the most profitable region, contributing 53% of operating income. Its brands include Fiat, Jeep, Chrysler, Ram, Peugeot, Citroen, Opel, Alfa Romeo, and Maserati.

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Los fabricantes de automóviles sufren caídas tras los nuevos aranceles de Trump. Cómo afectan al mercado y si hay oportunidades de inversión.

Acciones de automóviles caen tras nuevos aranceles de Trump: ¿Oportunidad de compra?

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Con el nuevo arancel sobre vehículos y piezas, los precios de los coches podrían seguir subiendo, afectando tanto a nuevos como usados.

Arancel del 25% de Trump podría disparar aún más los precios de los coches en 2025

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La Comisión Europea extiende a tres años el plazo para que los fabricantes cumplan sus objetivos de emisiones de CO₂.

La Comisión Europea flexibiliza los objetivos de emisiones de CO₂ para la industria automotriz

Stellantis NV

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock soared in 2024 after Donald Trump won the presidential election. The rising price <a href="https://www.benzinga.com/news/management/24/12/42444955/elon-musk-first-person-worth-400-billion-as-tesla-stock-hits-new-all-time-highs-how-2024-election-helped-could-lead-to-future-gains">helped boost the wealth</a> of CEO Elon Musk and may have helped boost the wealth of members of Congress.
Here's a look at members of Congress who bought and sold Tesla stock since the 2024 presidential election.
Congress Goes Shopping: Members of Congress can buy and sell stocks and options as long as they report the transactions within a given time limit. Congress trading has proven controversial in recent years with the potential of members having inside information from committee assignments and government contracts.
Congress members may have bought Tesla stock after the election, knowing that Musk would likely get a role in the new White House administration. This could have helped boost the presence of his electric vehicle company and ensure that policies supported the growth of Tesla.
Here's a look at the buys and sells of Tesla stock since the 2024 election, as tracked by the Benzinga Government Trades page, going from most recent to oldest:
<ul>
<li>March 7: Rep. Marjorie Taylor Greene (R-Ga.) bought $1,000 to $15,000</li>
<li>March 6: Rep. Rob Bresnahan (R-Pa.) sold $1,000 to $15,000</li>
<li>Feb. 27: Rep. Rob Bresnahan sold $1,000 to $15,000</li>
<li>Feb. 26: Rep. Gilbert Cisneros (D-Calif.) bought $1,000 to $15,000</li>
<li>Feb. 14: Rep. Josh Gottheimer (D-N.J.) sold $1,000 to $15,000</li>
<li>Feb. 13: Rep. Josh Gottheimer sold $1,000 to $15,000</li>
<li>Feb. 12: Rep. Julie Johnson (D-Texas) sold $15,000 to $50,000</li>
<li>Feb. 11: Rep. Julie Johnson sold $1,000 to $15,000</li>
<li>Feb. 5: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Jan. 31: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Jan. 30: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Jan. 28: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Jan. 8: Rep. Marjorie Taylor Greene bought $1,000 to $15,000</li>
<li>Jan. 8: Rep. Marjorie Taylor Greene bought $1,000 to $15,000</li>
<li>Jan. 8: Rep. Marjorie Taylor Greene bought $1,000 to $15,000</li>
<li>Jan. 8: Rep. Marjorie Taylor Greene bought $1,000 to $15,000</li>
<li>Dec. 3: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 27: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 26: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 20: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 14: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 13: Rep. Morgan McGarvey (D-Ky.) sold $1,000 to $15,000</li>
<li>Nov. 12: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 11: Rep. Josh Gottheimer bought $1,000 to $15,000</li>
<li>Nov. 8: Rep. Michael Patrick Guest (R-Miss.) bought $1,000 to $15,000</li>
<li>Nov. 7: Rep. Marjorie Taylor Greene bought $1,000 to $15,000</li>
</ul>
It is also worth noting that Senator Sheldon Whitehouse (D-R.I.) sold $100,000 to $250,000 and $15,000 to $50,000 worth of Tesla stock, fully exiting a position in the EV company, on Oct. 28. The transaction was reported on Nov. 7.
Read Also:<a href="https://www.benzinga.com/25/01/42860759/10-best-stock-traders-in-congress-in-2024-where-do-nancy-pelosi-pete-sessions-susan-collins-marjorie-taylor-greene-rank"> Top 10 Stock Traders In Congress For 2024: How Nancy Pelosi, Pete Sessions, Susan Collins, Marjorie Taylor Greene Rank</a>
Why It's Important: Transactions involving Tesla stock since the election have mostly been from Greene and Gottheimer.
Greene, who was buying Tesla stock before the 2024 election, is a close Trump ally and holds a role in the Department of Government Efficiency alongside Musk. Her purchases likely won't be a huge surprise.
Gottheimer is one of the most active traders in Congress. Still, his role in the Democratic Party and ownership of Tesla stock since the election likely isn't a huge positive for his party, given the support Musk gets from the GOP.
Other Democratic members of Congress, like Johnson and McGarvey, sold their Tesla stock after Trump won the election and Musk became involved with the White House administration.
Cisneros bought Tesla stock in February and, several days later, spoke out in opposition to Tesla&#8217;s CEO.
"He basically bought himself the Presidency of the United States. I have no doubt he is the one calling the shots," Cisneros said of Musk in a February <a href="https://cisneros.house.gov/media/press-releases/icymi-rep-cisneros-forbes-elon-musk-bought-himself-presidency">interview </a>with Forbes.
McGarvey&#8217;s sale of Tesla stock in November after the election might also be worth watching since the Congress member was one of the top-performing stock pickers in 2024.
Price Action:&nbsp;Tesla stock is up 4.8% to $281.34 on Wednesday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is down 25.9% year-to-date in 2025.
Tesla stock closed at $251.44 on Nov. 5 and opened for trading at $284.67 on Nov. 6 after&nbsp;<a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election" target="_blank" rel="noreferrer noopener">Trump&#8217;s victory was confirmed</a>.
Check This Out:
<ul>
<li>Lawmakers Are Making Huge Investments In 2025.<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent040225"> See What They&#8217;re Buying And Selling With Our Easy-to-Use Tool</a></li>
</ul>
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent040225"><img loading="lazy" decoding="async" width="1024" height="330" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02135821/Picture1-1024x330.png" alt="" class="wp-image-853874" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02135821/Picture1-1024x330.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02135821/Picture1-300x97.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02135821/Picture1-768x248.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02135821/Picture1.png 1430w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo: Shutterstock

Government

Politics

7 Congress Members Have Bought And Sold Tesla Stock Since 2024 Election: A Look At Republicans And Democrats Betting On EV Giant

NMAX

Newsmax Shares Halted On Circuit Breaker To Downside; Down 80%

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares have fallen 19.6% year to date, pressured by ongoing concerns about AI spending, trade restrictions and broader market weakness. The stock, which was one of the best-performing names in 2024, has struggled in 2025 as investors reassess growth expectations and adjust to an increasingly uncertain <a href="https://www.benzinga.com/quote/NVDA">economic environment.</a>
What To Know: Restrictions on chip exports to China remain a major headwind for Nvidia, raising concerns about the company&#8217;s ability to maintain its strong revenue growth. The company relies on China as a key market for its AI chips and any disruption in sales could have a material impact. Recent reports indicate that China is ramping up efforts to reduce its dependence on U.S. technology, which could further hurt Nvidia&#8217;s long-term positioning.
AI spending, which drove Nvidia's massive stock surge last year, is now under increased scrutiny. Some analysts are warning that corporations could slow their AI infrastructure investments in response to economic uncertainty.
Q1 Earnings: Nvidia's <a href="https://www.benzinga.com/news/earnings/25/02/43991607/nvidia-q4-earnings-highlights-revenue-beat-eps-beat-demand-for-blackwell-is-amazing">latest earnings report</a> helped accelerate the downside momentum in shares. Revenue jumped 78% year-over-year and earnings per share climbed 71%. The company guided for first-quarter revenue of $43 billion, significantly higher than the $26.04 billion reported in the same quarter last year. Despite these numbers, the stock has continued to decline as investors focus more on macroeconomic risks and shifting sentiment around AI-related spending.
Market Overview: The broader semiconductor sector is also facing challenges. Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is down 14.9% year-to-date, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) has fallen 28% and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) is down 44.5%. Nvidia's premium valuation has become less of a talking point as market conditions shift. The stock currently trades with a forward price-to-earnings ratio of approximately 24.5, which remains above some of its peers, but is down significantly from the peak.
U.S. President Donald Trump is set to announce reciprocal tariffs on several countries at 4 p.m. ET. The Trump administration has said the tariffs could target specific sectors.
NVDA Price Action: Nvidia shares were down 0.52% at $109.57 at the time of publication Wednesday, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0402"><img loading="lazy" decoding="async" width="1024" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28-1024x514.png" alt="" class="wp-image-853931" style="width:400px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28-1024x514.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28-768x385.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28-1536x771.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/02142554/Screenshot-2025-04-02-at-14.25.28.png 1554w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44612611/wall-street-rebounds-ahead-of-tariff-announcement-small-caps-rally-bitcoin-hits-87000-whats-driving-markets-wednesday">Wall Street Rebounds Ahead Of Tariff Announcement, Small Caps Rally, Bitcoin Hits $87,000: What&#8217;s Driving Markets Wednesday?</a></li>
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Photo: Shutterstock.

AVGO

MRVL

NVDA

Nvidia Stock Is Down Nearly 20% YTD: What's Going On?

General

Senate Budget Calls For $5T Increase In U.S. Debt Ceiling

KULR Tech Gr's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KULR#NYSE">KULR</a>) short percent of float has risen 11.12% since its last report. The company recently reported that it has 22.55 million shares sold short, which is 10.39% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.96 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>KULR Tech Gr Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743622229_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for KULR Tech Gr has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing KULR Tech Gr's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, KULR Tech Gr's peer group average for short interest as a percentage of float is 11.73%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

KULR

Looking Into KULR Tech Gr's Recent Short Interest

PTC's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NYSE">PTC</a>) short percent of float has fallen 4.73% since its last report. The company recently reported that it has 2.49 million shares sold short, which is 3.22% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>PTC Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743622223_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PTC has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PTC's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, PTC's peer group average for short interest as a percentage of float is 3.06%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Do Investors Really Feel About PTC?

Mirion Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MIR#NYSE">MIR</a>) short percent of float has risen 10.27% since its last report. The company recently reported that it has 5.09 million shares sold short, which is 2.47% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.62 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Mirion Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743622218_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Mirion Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Mirion Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Mirion Technologies's peer group average for short interest as a percentage of float is 7.31%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Do Investors Really Feel About Mirion Technologies?

Bringing a child into the world is an exciting milestone, but it also comes with financial responsibilities. For Ashley, a New Yorker earning a combined $15,000 per month with her husband and holding an $86,000 emergency fund, the big question is: Are they financially secure enough to have a baby?&nbsp;
Personal finance expert Suze Orman recently addressed this question on her "<a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-suze-anything-revisiting-can-i-afford-to-ha">Women &amp; Money</a>" podcast.
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<li>This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100</a>.</li>
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<h2 class="wp-block-heading">Breaking Down Ashley's Financial Situation</h2>
Ashley and her husband have a <a href="https://www.benzinga.com/personal-finance/25/02/43581512/are-you-among-the-wealthiest-heres-the-net-worth-it-takes-to-be-in-the-top-1-5-and-10">strong financial foundation</a>. This includes:&nbsp;
<ul>
<li>A $15,000 monthly income after taxes</li>
<li>An $86,000 emergency fund</li>
<li>$138,000 in retirement investments</li>
<li>Monthly expenses totaling $6,000, including mortgage, insurance, food, and transportation</li>
</ul>
Adding a baby into the mix will introduce significant costs to this breakdown. Ashley mentioned that daycare alone would cost them $3,500 per month.&nbsp;
<h2 class="wp-block-heading">The True Cost of Having a Child</h2>
<a href="https://www.benzinga.com/personal-finance/25/03/44459879/suze-orman-warns-the-absolute-worst-thing-that-you-can-be-doing-right-now-is-panic-because-it-hurts-long-term-security">Orman</a> pointed out that there will be several other expenses to consider when it comes to having a child. "What is not in this equation is the cost of a child today," she said. "Forget daycare. Forget that there are costs to having a child, and it comes out to be approximately $25,000 a year till about the age of 17 or 18."
She added that her estimate also doesn't include saving for college.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
On top of the $3,500 per month for childcare, Orman estimates an additional $2,000 per month for baby-related costs such as healthcare, clothing, food, and unexpected expenses. This brings Ashley's projected new monthly expenses to almost $12,000—leaving a $3,000 buffer between their income and expenses.&nbsp;
While the numbers suggest Ashley and her husband could afford to have a child, Orman advises caution. Unexpected costs can arise, and <a href="https://www.benzinga.com/personal-finance/24/10/41662332/financial-stress-why-women-and-gen-xers-are-feeling-the-pinch-more-than-others">financial stress</a> should not overshadow the joy of having a baby.
<h2 class="wp-block-heading">Orman's Recommendation: The "Trial Run"</h2>
To ensure financial preparedness, Orman suggests Ashley and her husband test out life with a baby—financially speaking—before committing. She advised Ashley and her husband to set aside $6,000 per month into a high-yield money market account since that would be close to the estimated cost of having a child.&nbsp;
"You put $6000 a month away for one year and see how it feels," Orman said. "Now you have to ask yourself the question: Was that easy for you to do?"
See Also: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
This strategy is meant to help them gauge whether they can comfortably manage the expenses without sacrificing their current lifestyle.&nbsp;
"Now, obviously your life&#8217;s going to change when you have a baby," Orman said. "You&#8217;re gonna experience love&#8230;more than you&#8217;ve ever experienced love in your life, so it&#8217;s going to be fabulous."
If Ashley and her husband can consistently save this amount for a year without stress, Orman's point is that they won't be in financial stress when it comes to having a baby. Plus, they will have built an additional $72,000 in savings, bringing their <a href="https://www.benzinga.com/personal-finance/24/12/42444651/should-i-use-my-emergency-fund-for-a-surgery-dave-ramseys-advice-on-shopping-around-for-better-prices-for-medical-services">emergency fund</a> to $158,000—enough to cover about a year's worth of expenses if needed.
<h2 class="wp-block-heading">Should Ashley and Her Husband Wait?</h2>
Orman acknowledged that there is no universal right or wrong answer. However, she suggests that if Ashley is feeling financial stress about having a baby, she might want to wait. Giving themselves another year or two to build up savings and ensure a strong financial cushion could provide peace of mind and eliminate unnecessary stress.
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Is A $15K Monthly Income And An $86K Emergency Fund Enough To Have A Baby In New York? Suze Orman Weighs In

The U.K&#8217;s National Institute for Health and Care Excellence (NICE) on Wednesday recommended Pfizer Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Adcetris (brentuximab vedotin) for adult patients with <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">advanced Hodgkin lymphoma</a>.
The recommendation covers brentuximab vedotin in combination with other therapies for routine National Health Service (NHS) use.
Around 800 people annually with <a target="_blank" href="https://www.nice.org.uk/news/articles/first-ever-nhs-treatment-approved-for-advanced-hodgkin-lymphoma" rel="noreferrer noopener">previously</a> untreated stage 3 or 4 CD30-positive Hodgkin lymphoma could benefit from this treatment, which combines brentuximab vedotin with doxorubicin, dacarbazine, and vinblastine.
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NICE says this marks the first recommendation specifically for previously untreated late-stage classical Hodgkin lymphoma and follows an improved confidential discount to the NHS on the treatment&#8217;s list price offered by Takeda Pharmaceutical Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>).
Clinical evidence from the ECHELON-1 trial showed that brentuximab combination therapy significantly delays disease progression and prolongs survival compared to standard chemotherapy regimens.
The trial demonstrated impressive overall survival rates. Hodgkin lymphoma is a type of cancer that affects cells in the lymphatic system. Advanced (stage 3 and 4) CD30-positive Hodgkin lymphoma most commonly affects younger adults aged 20 to 24 years and older <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44578528/european-commission-approves-pfizers-rsv-vaccine-abrysvo-to-help-protect-adults-aged-18-59-against" rel="noreferrer noopener">adults aged 75 to 79 years</a>.
NICE recommendation means the treatment will be available immediately through the Cancer Drugs Fund, with interim funding provided until routine commissioning begins.
On Tuesday, the European Commission issued a decision amending the marketing authorization for Pfizer&#8217;s Abrysvo, the company&#8217;s bivalent respiratory syncytial virus (RSV) prefusion F (RSVpreF) vaccine, to extend the indication to include prevention of lower respiratory tract disease (LRTD) caused by RSV in individuals 18 through 59 years of age.
The approval is based on results from the pivotal phase 3&nbsp;MONeT&nbsp;trial.
Price Action: PFE stock is up 0.35% at $24.63 at the last check on Wednesday.
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https://www.theinformation.com/articles/trump-outline-tiktok-deal-proposal-bytedance-retaining-stake

AMZN

'Trump to Outline TikTok Deal Proposal, With ByteDance Retaining Stake' -The Information

J.P. Morgan analyst Samuel Nielsen reiterated the Overweight rating on Sportradar Group AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRAD#NASDAQ">SRAD</a>) on Wednesday, <a target="_blank" href="https://www.benzinga.com/quote/SRAD/analyst-ratings" rel="noreferrer noopener">raising the price forecast to $27 from $26.</a>
The analyst highlights that Sportradar is effectively using its scale, data, and technology capabilities to enhance its products and services, which, in turn, helps increase pricing power and take rates.
Nielsen is optimistic about the company&#8217;s ability to leverage sports data rights to innovate products and increase pricing power, particularly in live betting.
This is expected to drive higher revenue share and margin expansion, as the company moves past recent rights renewals and enters a period of sustained top-line growth with lower operating expenses, the analyst adds.
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With a solid visibility into its revenue and cost structure, Sportradar has approximately €2 billion ($2.2 billion) in contracted revenue for the next two years, accounting for around 75% of the company&#8217;s projected revenue for 2025 and 2026, a reassuring figure given the broader concerns about consumer health, Nielsen writes.
Looking ahead to 2027, Sportradar has set ambitious financial targets, including a revenue forecast of about €1.7 billion, reflecting a 15% compound annual growth rate (CAGR), and an adjusted EBITDA of approximately €455 million, showing a 27% CAGR and a margin improvement of 700 basis points to reach 27%, the analyst highlights.
Additionally, the company expects around €275 million in free cash flow, equating to a conversion rate of about 60% of EBITDA into free cash flow. SRAD&#8217;s growth projections for 2027 are driven by global market growth, cross-selling and up-selling strategies, and expansion into adjacent markets.
On the cost side, Sportradar anticipates a 9% CAGR in sports rights expense and a 10% CAGR in sports rights cash costs, which should provide approximately 400 basis points of margin leverage, with another 300 basis points from fixed cost leverage.
The analyst keeps 2025 estimates steady but increases 2026 revenue and EBITDA projections by 2% and 3%, raising them to €1.45 billion and €360 million, respectively, from previous estimates of €1.43 billion and €349 million.
Price Action: SRAD shares are trading higher by 1.98% to $22.16 at last check Wednesday.
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A Redditor recently asked a simple question in the r/MiddleClassFinance <a href="https://www.reddit.com/r/MiddleClassFinance/comments/1jk09ci/why_do_so_many_redditors_believe_that_an_income/">subreddit</a>: &#8220;Why do so many Redditors believe that an income of $75K/year (70th percentile in USA) is considered a low salary?&#8221; It sparked a massive discussion, and while some replies were over the top, many of them actually made sense.
<h2 class="wp-block-heading">Where You Live Changes Everything</h2>
One of the biggest themes in the thread was how wildly the <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/39001824/janet-yellen-acknowledges-rising-cost-of-living-is-a-problem-to-a-lot-of-people-a">cost of living</a> varies. In some places, $75,000 is plenty. In others, it&#8217;s barely enough to stay afloat.
&#8220;$75K is more than most couples make combined in my area,&#8221; one user wrote. Another added, &#8220;I make less than $75K a year and I travel out of the country for vacation twice a year for 4 weeks at a time. Don't have kids though.&#8221;
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But that experience isn't universal. A commenter in Los Angeles said, &#8220;In LA, it would get you a nice closet to live in.&#8221; Another person in San Francisco put it bluntly: &#8220;85K is poverty wages in San Francisco.&#8221;
High rents, childcare costs, and transportation expenses can eat through that income quickly. &#8220;My rent is $2,500/month,&#8221; one user said. After taxes, retirement and health insurance, the $75,000 salary is about $4,000 take-home, they explained.
<h2 class="wp-block-heading">Family Size and Debt Matter</h2>
Living alone on $75,000 in a <a href="https://www.benzinga.com/real-estate/24/10/41545780/where-100-only-costs-86-the-10-cheapest-cities-to-live-in-america">low-cost area</a>? You might be doing alright. But trying to support a family? That's a different story.
&#8220;Try buying a house, car, and raising a family on that,&#8221; one user said. Another clarified that daycare and healthcare premiums alone cost them $45,000 a year after taxes. &#8220;That's like $60K in salary just to pay for those two things.&#8221;
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Several people noted that $75,000 used to go a lot further. &#8220;75K was a lot of money in 2020. Things changed. It&#8217;s officially low income now.&#8221;
&#8220;75K before COVID was solidly middle-middle class,&#8221; another said. &#8220;Now even in the middle of the country it would be an uncomfortable lower-middle-class salary.&#8221;
<h2 class="wp-block-heading">The Reddit Bubble</h2>
Some users pointed out that Reddit isn't exactly a cross-section of America, as &#8220;many Redditors live in high-cost-of-living&#8221; cities where that salary is low. Another added, &#8220;Reddit skews toward upper-class users.&#8221;
&#8220;Because all Redditors are in IT, engineering, or computer science and expect to get paid $150K out of college,&#8221; someone joked.
See Also: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
But jokes aside, that bias affects perception. &#8220;In my current bubble, a single person making $75K is able to cover the basics, but doesn't have much disposable income. They are the &#8216;broke&#8217; friend.&#8221;
On average, a single person must make about $96,500 a year <a href="https://www.benzinga.com/personal-finance/24/08/40352204/do-you-know-what-salary-it-takes-to-live-comfortably-heres-a-hint-its-much-higher-than-the-avera">to live comfortably</a> in a major U.S. city. By the end of 2023, the average single-person salary in the U.S. was about $59,384, and the median household income stood at $74,580, according to the <a href="https://www.census.gov/library/publications/2023/demo/p60-279.html">Census Bureau</a>. When you compare those numbers to what it takes to live comfortably today, it&#8217;s clear why so many people feel squeezed—even those earning above-average wages.
In the end, $75,000 is a decent salary on paper. But when you consider taxes, geography, lifestyle, and inflation, it becomes apparent why so many people see it as less than comfortable.
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'Someone Asked Why '$75K Is Seen As A Low Salary On Reddit.' The Responses Actually Make More Sense Than You'd Expect

On April 11, <a href="https://www.benzinga.com/topic/banks">some of the biggest U.S. banks</a> will conduct earnings calls, including JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), and The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>).
BofA Securities writes that banks will &#8220;likely strike a cautious tone&#8221; and focus on risks tied to policy uncertainties like tariffs and the Department of Government Efficiency (DOGE).
Major credit issues aren&#8217;t expected yet, but banks may start setting aside more reserves due to growing economic concerns.
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Investors will watch for signs of consumer and corporate strength, particularly in investment banking and lending. They will gauge whether conditions will improve in the second half of 2025 or worsen further.
The analyst writes, &#8220;We see upside to our estimates driven by stronger trading revenues. Debt capital markets a potential silver-lining in an otherwise slow investment banking quarter. Seasonal decline in cards balances, muted commercial demand to temper loan growth. Steeper yield curve in early 1Q25 probably drives better NII growth for 1Q25.&#8221;
BofA revised JPMorgan&#8217;s price target from $285 to $284, Citigroup Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) from $90 to $89, Wells Fargo from $85 to $83, and Morgan Stanley from $150 to $144.
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Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) on Wednesday announced data from MUSETTE Phase 3 trial of a high dose of Ocrevus (ocrelizumab) intravenous (IV) infusion in adult patients with relapsing multiple sclerosis (RMS) compared with the currently approved Ocrevus IV 600 mg dose.
Patients received treatment with Ocrevus high dose or IV 600 mg every 24 weeks for a minimum of 120 weeks.
The <a target="_blank" href="https://www.roche.com/media/releases/med-cor-2025-04-02" rel="noreferrer noopener">trial</a> did not meet its primary endpoint in showing additional benefit in slowing disability progression, as measured by a composite disability over a period of at least 120 weeks of treatment.
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The rates of disability progression were low and consistent with rates observed in the previous pivotal studies of Ocrevus IV 600 mg.
In addition, in several predefined analyses on disease activity, Ocrevus IV 600 mg showed clinically meaningful results with the lowest annualized relapse rate (ARR) observed during the double-blind period of a Phase III study in RMS.
The MUSETTE data further support the efficacy and safety profile of the currently approved OCREVUS IV 600 mg dose for RMS.
Ocrevus IV and Ocrevus subcutaneous (SC; marketed as OCREVUS ZUNOVO [ocrelizumab hyaluronidase-ocsq] in the U.S.) are approved for both RMS (including relapsing-remitting multiple sclerosis and active, or relapsing secondary progressive multiple sclerosis, as well as clinically isolated syndrome in the U.S.) and primary progressive multiple sclerosis.
Both Ocrevus IV and subcutaneous are administered every six months. The initial IV dose is given as two 300 mg infusions two weeks apart, with subsequent doses given as single 600 mg infusions.
Ocrevus subcutaneous is given as a single 920 mg subcutaneous injection every six months.
Price Action: RHHBY stock is down 3.89% at $39.48 at the last check Wednesday.
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RHHBY

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President Donald Trump is expected to announce sweeping new trade tariffs Wednesday afternoon, calling it "Liberation Day" — a symbolic push to tackle the ballooning U.S. trade deficit <a href="https://www.benzinga.com/topic/tariffs">with major global partners.</a>
Early reports suggest the new reciprocal tariffs could reach as high as 20% on a wide spectrum of imported goods. If confirmed, such measures would raise average U.S. tariffs to levels unseen in decades, stoking uncertainty across global supply chains and financial markets.
Trump is set to reveal more details during his scheduled address from the White House at 4 p.m. Wednesday. 
Markets will be watching closely, not just for the scope and scale of tariffs, but also for potential signals on diplomatic retaliation, corporate lobbying reactions, and the Fed's response.
<h3 class="wp-block-heading">A Historic Deficit Fuels Protectionist Moves</h3>
In 2024, the U.S. imported $3.3 trillion in goods and exported only $2.06 trillion, resulting in a trade deficit exceeding $1.2 trillion, according to data from the International Trade Centre.
January and February 2025 marked the two largest monthly goods deficits ever recorded — $156 billion and $148 billion, respectively, hinting that U.S. businesses may have frontloaded imports in anticipation of higher future costs.
Top trading sources of U.S. imports include Mexico at $510 billion, China at $462 billion, and Canada $422 billion. Imports from Germany totaled $163 billion, predominantly in the automotive sector, while the European Union as a whole supplied $687 billion worth of goods.
Among product categories, automobiles top the list at $219 billion, followed by crude oil and petroleum at $174 billion.
<h3 class="wp-block-heading">Auto Industry In the Crosshairs</h3>
Trump has already enforced a 25% tariff on all foreign car imports. If an additional 20% reciprocal duty is introduced, foreign vehicles could face a combined 45% import tax.
<a href="https://www.benzinga.com/25/04/44610548/trumps-auto-tariffs-could-crush-demand-blow-26-billion-hole-in-industry-profits">Analysts warn</a> this could trigger a severe contraction in U.S. auto sales. Price tags on new vehicles may surge by as much as $15,000, dealing a blow to consumer demand and profit margins of major automakers.
<a href="https://www.benzinga.com/top-stories/25/04/44596034/goldman-warns-trumps-liberation-day-tariffs-could-spike-us-fuel-prices">Goldman Sachs cautioned</a> that if energy products are included in the tariff package, oil and refined product prices including gasoline and diesel could spike sharply, adding to inflationary pressures.
<h3 class="wp-block-heading">Wall Street Reacts: Correction And Caution</h3>
Equity markets are already flashing red. The S&amp;P 500 — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — entered correction territory last month, down over 10% from recent highs, and closed its worst quarter since 2022 with a 4.6% loss.
The so-called "Magnificent Seven" — Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — have all posted negative year-to-date returns and are underperforming the broader market.
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Notably, bullish strategist <a href="https://www.benzinga.com/government/regulations/25/04/44584000/veteran-investor-warns-of-rising-stagflation-risk-as-tariffs-loom-anticipates-squeezed-profit-margins-for-us-businesses">Ed Yardeni</a> revised his S&amp;P 500 earnings forecasts downward and cut his year-end index target, citing risks from trade policy and slowing global demand.
Amid equity outflows, gold has solidified its status as a safe-haven asset, repeatedly hitting record highs and surging 19% year to date as investors seek shelter from mounting uncertainty.
A scenario involving stronger-than-expected retaliatory measures from key trading partners could amplify the market dynamics seen in the first quarter, deepening volatility and risk-off sentiment.
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<h3 class="wp-block-heading">Rising Fears Of Stagflation</h3>
So far, markets have not fully priced in a worst-case economic scenario, one where rising tariffs lead to slower growth coupled with surging prices, also known as stagflation.
Yet, a growing number of economists are increasing their subjective probabilities of a U.S. recession in 2025, especially if retaliatory tariffs hit U.S. exports and <a href="https://www.benzinga.com/25/03/44537936/consumer-inflation-expectations-skyrocket-in-march-hit-highest-levels-in-32-years">consumer sentiment deteriorates.</a>
This week, <a href="https://www.benzinga.com/25/04/44608617/jp-morgan-hikes-us-recession-odds-to-40-tariffs-create-a-dilemma-for-the-fed">JPMorgan raised U.S. probability odds </a>to 40%, up from 30% previously.
Uncertainty also clouds the Federal Reserve's path forward. Although markets currently expect three 25-basis-point rate cuts by the end of 2025, rising inflation risks from new tariffs could tie the Fed's hands.
The central bank may find itself squeezed between the need to support slowing growth and the imperative to fight resurgent price pressures, a policy dilemma reminiscent of the 1970s.
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President Trump delivers a live address on tariffs from the White House at 4 p.m. ET.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Trump Speaks Live From The White House on Liberation Day &#x7C; April 2nd, 2025" width="500" height="281" src="https://www.youtube.com/embed/wgmKYg-zK9o?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>
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Photo: Shutterstock

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Broad U.S. Equity ETFs

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Trump's 'Liberation Day' Tariff Reveal Set For 4PM: What's At Stake

BioMarin Pharmaceutical Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) released topline data from the Phase 3 PEGASUS trial evaluating Palynziq&nbsp;(pegvaliase-pqpz) compared to diet alone in 55 adolescents aged <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">12-17 with phenylketonuria (PKU)</a>.
PKU is&nbsp;a rare, inherited metabolic disorder that prevents the body from breaking down the amino acid phenylalanine. Untreated phenylketonuria can lead to brain damage, intellectual disabilities, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n44606179/biomarin-announces-positive-pivotal-data-for-palynziq-pegvaliase-pqpz-in-adolescents-with-phenylke" rel="noreferrer noopener">behavioral symptoms or seizures</a>.
The primary endpoints are the changes in blood Phe concentration and characterization of the safety profile in adolescents. Secondary endpoints include changes in total dietary protein intake and pharmacokinetics.&nbsp;
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The study met its primary efficacy endpoint, demonstrating a statistically significant lowering in blood Phe levels in adolescents aged 12-17 with phenylketonuria (PKU) compared to diet alone.
Safety results were consistent with the known profile of the medicine.
Palynziq is the first and only enzyme therapy approved to treat adults with PKU.
Detailed results from the PEGASUS study will be presented at an upcoming medical meeting and submitted to global health authorities later this year to request a label expansion for Palynziq to include adolescents.
Palynziq substitutes the deficient phenylalanine hydroxylase (PAH) enzyme in PKU with a PEGylated version of the enzyme phenylalanine ammonia lyase to break down Phe.&nbsp;Palynziq is administered using a dosing regimen designed to facilitate tolerability.
Palynziq is approved to reduce blood Phe concentrations for adults in the U.S., for people 16 and older in the EU,&nbsp;Canada, and&nbsp;Brazil, and for people 15 and older in&nbsp;Japan&nbsp;with PKU who have uncontrolled blood Phe concentrations greater than 600 micromol/L on existing management.
Price Action: BMRN stock is up 0.29% at $68.14 at the last check on Wednesday.
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BioMarin Seeks Label Expansion For Palynziq After Positive Phase 3 Results In Adolescent Patients

J.P. Morgan analyst Zach Parham reiterated a <a target="_blank" href="https://www.benzinga.com/quote/SM/analyst-ratings" rel="noreferrer noopener">Neutral rating</a> on Wednesday on the shares of SM Energy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) with a price forecast of $41.00.
Following its January 1 operational takeover, SM continues to integrate its recently acquired Uinta assets. The company has reported no significant impact from prior rail delays or refinery downtime that affected Uinta&#8217;s fourth-quarter performance.
For the first-quarter, oil volumes are expected to slightly exceed the midpoint of SM&#8217;s guidance, with estimates at 103.0 MBo/d, closely aligning with consensus expectations of 103.1 MBo/d, said the analyst.
SM anticipates delivering 45 net Turn-In-Lines (TILs) in first-quarter, which represents 30% of its full-year target of 150 net TILs.
These TILs are weighted toward the later part of the quarter, indicating a greater impact on second-quarter production.
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As a result, second-quarter oil volumes are projected to rise by 6% quarter-over-quarter to 106.9 MBo/d, aligning with the company&#8217;s full-year 2025 production goal of approximately 107 MBo/d.
With updated commodity prices factored in, SM&#8217;s first-quarter cash flow per share (CFPS) is estimated at $4.37, slightly ahead of the consensus estimate of $4.28.
EBITDA is also projected at $570 million, surpassing the consensus of $559 million. Capital expenditures for the quarter are expected to total $430 million, falling within the company&#8217;s guidance, while free cash flow (FCF) is estimated at $72 million.
Although SM&#8217;s stock buyback program remains in place, no repurchases are expected for first-quarter, with activity likely resuming in the second half of 2025 once leverage approaches 1x.
For the full year, the company projects 107.7 MBo/d of oil production, supported by $1.31 billion in capital spending, resulting in $740 million of free cash flow and a 22% FCF yield, noted the analyst.
In October 2024, SM completed its $2.0 billion all-cash acquisition of XCL Resources, expanding into the Uinta Basin and establishing a third core operational area.
Due to the cash-financed deal, the company is prioritizing debt reduction over share buybacks, aiming to bring leverage below 1x by mid-2025. As a result, SM&#8217;s cash return yield currently lags behind the peer median, the analyst opined.
Price Action: SM shares traded higher by 2.55% at $30.53 at last check Wednesday.
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Photo via Shutterstock.

SM Energy's Near-Term Focus Centers On Debt Reduction Over Stock Buybacks: Analyst

Macro uncertainty has delayed the timeline for an IPO comeback, but there remains substantial pent-up supply for equity issuance.
That&#8217;s according to BofA Securities analyst Craig Siegenthaler, who <a href="https://www.benzinga.com/topic/exchanges" target="_blank" rel="noreferrer noopener">maintained all of his</a> ratings and continues to look for a reopening in the second half of 2025. 
This will restart Nasdaq, Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) strategic flywheel across listings, trading, and corporate services, he says.
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Siegenthaler continued to forecast the highest 12-month upside for: 
<ul>
<li>Tradeweb Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TW#NASDAQ">TW</a>); Buy rating, price target $212 from $197.</li>
<li>BGC Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGC#NASDAQ">BGC</a>); Buy rating, price target $15 from $16.</li>
<li>Nasdaq; Buy rating, price target $105 from $103.</li>
<li>Cboe Global Markets, Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>); Buy rating, price target $260 from $251.</li>
</ul>
There is a significant runway left in the electronification of fixed-income markets at Tradeweb Markets, and given their considerable rates business, the analyst noted that Tradeweb Markets will capitalize on the political uncertainty in Washington.
Siegenthaler will look for BGC Group to launch Treasury futures within days and expect their share of the $2 billion revenue per year interest rate futures market to continue accelerating, surpassing 10% in 2027.
The increasingly uncertain macroeconomic and geopolitical backdrop produced ideal conditions for trading across asset classes. 
Accordingly, Siegenthaler raised EPS for his entire market structure coverage. While the analyst expects some downward normalization in volumes into the second half of 2025 (in parallel with a pickup in IPOs), ongoing geopolitical uncertainty will remain an important trading catalyst.
Given his view of second-half normalizations, we are less bullish on Exchange stocks (which outperformed) than the Alts and Brokers.
With market structure stocks up 8% on average in the first quarter of 2025, Nasdaq and Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) — Buy rating, price target $48 from $56 — have lagged the group.
Nevertheless, the analyst forecasted over 10% first-quarter 2025 EPS beats for both stocks.
Both companies have benefitted from the surge in equity volume in the first quarter of 2025.
Assets under management linked to the Nasdaq-100 have faced beta headwinds related to the choppy equity markets year-to-date. One-third of their indexing revenue is derived from Nasdaq-100 futures, which posted their strongest growth quarter in years (up 38% sequentially) and are seeing strong adoption at the online brokers. In addition, the annual listing price hike (estimated 5%) should more than offset any delisting headwinds. 
Meanwhile, Virtu Financial should also see solid results across its organic initiatives, with industry volumes in options, ETFs, and fixed income higher sequentially.
MarketAxess Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTX#NASDAQ">MKTX</a>) — Underperform rating, price target $191 from $189 — rallied 12% in March. 
Investors embedded an industrywide mix shift into A2A RFQ, where they are dominant. Siegenthaler noted that portfolio trading (PT) and D2D trading have also logged impressive volumes month-to-date, up 18% and 11% month-on-month (versus +9% for TRACE).
Tradeweb Markets remains dominant in both of these market segments. Accordingly, the analyst does not expect MarketAxess Holdings to post higher market share gains than Tradeweb Markets in March. Meanwhile, Intercontinental Exchange Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) — Buy rating, price target $230 from $237 — will likely experience near-term cyclical headwinds in its mortgage and listing business.
Cboe Global Markets, Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) — Buy rating, price target $260 from $251 — and Tradeweb Markets could see a sequentially adverse product mix shift, given a lower contribution from SPX and muni bonds. 
Futures and index options usage CME Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) — Underperform rating, price target $219 from $200 — and Cboe Global Markets on Robinhood is ramping nicely. La Nina has been a helpful catalyst for commodity futures. The Mr. Cooper and Rocket Mortgage deal will cost Intercontinental Exchange approximately 410 bps of servicing share and 130 bps of origination share, which the analyst noted amounts to a $72 million headwind.
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Image: Shutterstock

IPOs

CBOE

MKTX

NDAQ

VIRT

Tradeweb, Nasdaq, Virtu, ICE, BGC Group, Cboe Set To Benefit From IPO Comeback: Analyst

Innovation Beverage Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBG#NASDAQ">IBG</a>) stock is soaring on Wednesday after the company announced a distribution deal <a href="https://www.benzinga.com/pressreleases/25/04/ac44603395/innovation-beverage-group-expands-u-s-distribution-of-its-award-winning-bitters-through-one-of-th">with Republic National Distribution Company (RNDC)</a>.
What To Know: ​The distribution deal will result in the company&#8217;s Australian Bitters and BITTERTALES brands being distributed by RNDC across six states, including California, Oregon, Washington, Hawaii, Arizona and Michigan.
RNDC is one of the U.S.&#8217;s leading wholesale beverage alcohol distributors specializing in wine and spirits.
&#8220;We are very pleased to partner with RNDC, one of the top distributors in the U.S. in our category. Their distribution reach is vast and their product expertise and executional excellence are ideal to promote the expansion of our award-winning bitters brands in the U.S.,&#8221; said IBG&#8217;s Chairman and Interim CEO Sahil Beri.
&#8220;Having recently achieved&nbsp;45%&nbsp;market share in cocktail bitters in Australia, we are eager to gain similar momentum in the U.S.&#8221;
Innovation Beverage Group shares are moving on higher-than-normal session volume of approximately 204 million shares. The company&#8217;s average session volume over the past 100 days is 310,872, per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro.</a>
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IBG Price Action: At the time of writing, Innovation Beverage shares were up 135.4% at $1.15, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: This illustration was generated using artificial intelligence via Midjourney.

What's Going On With Innovation Beverage Shares Wednesday?

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