An Air India Boeing 787-8 Dreamliner by Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) crashed on Thursday near the Ahmedabad airport, with 242 passengers on board. The flight was en route to London Gatwick from Ahmedabad.



What Happened:&nbsp;The Air India flight, AI171, met with a tragic fate during takeoff from the Sardar Vallabhbhai Patel International Airport in Ahmedabad on Thursday.



The passenger aircraft, a Boeing 787 Dreamliner with a capacity of 300, crashed in the Meghani area of the city. Thick smoke was seen rising from Dharpur near Meghaninagar, suggesting a major fire likely caused by the substantial fuel load carried for the long-haul flight to London. Emergency response units and fire brigade teams have been deployed to the scene.



Boeing did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.



<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">Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates at the earliest on <a href="https://t.co/Fnw0ywg2Zt">https://t.co/Fnw0ywg2Zt</a> and on our X handle (<a href="https://t.co/Id1XFe9SfL">https://t.co/Id1XFe9SfL</a>). -Air India…&mdash; Air India (@airindia) <a href="https://twitter.com/airindia/status/1933086483142902226?ref_src=twsrc%5Etfw">June 12, 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/crypto/cryptocurrency/25/06/45898426/michael-saylor-shrugs-off-quantum-computing-threat-to-bitcoin-warns-companies-like-microsoft-google-more-vulnerable-youll-see-it-coming-a-mile-away" target="_blank" rel="noreferrer noopener">Michael Saylor Shrugs Off Quantum Computing Threat To Bitcoin, Warns Companies Like Microsoft, Google More Vulnerable: &#8216;You&#8217;ll See It Coming A Mile Away&#8217; </a>



<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">We are following reports of a crash of Air India flight <a href="https://twitter.com/hashtag/AI171?src=hash&amp;ref_src=twsrc%5Etfw">#AI171</a> from Ahmedabad to London. We received the last signal from the aircraft at 08:08:51 UTC, just seconds after take off. The aircraft involved is a Boeing 787-8 Dreamliner with registration VT-ANB… <a href="https://t.co/EmKKISJldF">pic.twitter.com/EmKKISJldF</a>&mdash; Flightradar24 (@flightradar24) <a href="https://twitter.com/flightradar24/status/1933086087682904336?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: This incident adds to the recent challenges faced by Boeing. In 2024, a Boeing 737-800 operated by South Korea's <a href="https://www.benzinga.com/markets/equities/24/12/42716905/boeing-in-spotlight-after-fatal-737-800-crash-in-south-korea-stock-declined-28-amid-deepening-2024-challenges">JejuAir crashed</a>, killing 179 of 181 passengers. This raised serious questions about Boeing&#8217;s safety record and led to a 30% stock decline in the same year.



In May, the U.S. Department of Justice (DoJ) moved to dismiss a <a href="https://www.benzinga.com/markets/equities/25/05/45689735/us-justice-department-seeks-to-dismiss-boeings-fraud-charges-on-737-max-crashes-that-killed-over-300">criminal fraud</a> charge against Boeing, linked to two fatal 737 MAX plane crashes that claimed 346 lives. This decision followed an agreement between Boeing and the Justice Department.



In January 2013, the entire global fleet of Boeing 787 Dreamliners was grounded following a series of safety incidents linked to the aircraft&#8217;s lithium-ion batteries. The U.S. Federal Aviation Administration (FAA) responded by issuing an emergency airworthiness directive, requiring airlines to prove the safety of the batteries before resuming operations. Aviation authorities in Europe, Japan, and other regions quickly followed suit, grounding all Dreamliners operated by eight airlines worldwide. Boeing, while standing by the integrity of the 787, worked with regulators and airlines to develop technical solutions, including redesigning the battery system and adding fireproof containment, before the aircraft was cleared to return to service about three months later



During Thursday&#8217;s pre-market trading session, shares of Boeing declined 5.58%. On a year-to-date basis, it surged 24.51%.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/analyst-stock-ratings/initiation/25/06/45881612/this-coinbase-global-analyst-begins-coverage-on-a-bullish-note-here-are-top-5-initiations-for-wednesday" target="_blank" rel="noreferrer noopener">This Coinbase Global Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday</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.

News

Markets

Boeing Dreamliner Carrying Over 200 Passengers Crashes Shortly After Takeoff Near India's Ahmedabad: BA Stock Falls Over 5% In Thursday Pre-Market

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is preparing to roll out its AI Copilot tool for the Pentagon by summer 2025.



What Happened: In a meeting earlier, the company's Chief Commercial Officer, Judson Althoff, said that a major customer with over 1 million Microsoft 365 licenses is set to adopt Copilot, Business Insider <a href="https://www.businessinsider.com/microsoft-copilot-licenses-million-ai-2025-6">reported</a> on Wednesday, citing sources. 



The Pentagon is a likely candidate given its large workforce, including 2.1 million military members and 770,000 civilian employees, <a href="https://www.businessinsider.com/microsoft-prepping-ai-copilot-pentagon-2025-6">according</a> to the media outlet.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45807465/dan-ives-calls-musk-trump-feud-a-twilight-zone-moment-but-bullish-on-tesla-and-autonomous-future-not-good-for-either-side" target="_blank" rel="noreferrer noopener">Dan Ives Calls Musk-Trump Feud A ‘Twilight Zone Moment' But Bullish On Tesla And Autonomous Future: ‘Not Good For Either Side'</a>



In a March blog post written for government customers, Microsoft revealed plans to introduce a version of its Copilot AI tool tailored for the Pentagon and other high-security government clients by the summer of 2025.



Pentagon did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



Why It Matters: The tool, part of Microsoft 365, is designed to automate tasks and enhance productivity across platforms like Word, Excel and PowerPoint.



"Work is ongoing to ensure the offering meets the necessary security and compliance standards," Microsoft stated, highlighting the significant effort involved in adapting the tool for DoD environments.



Department of Defense did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Microsoft 365 Copilot uses AI models to assist employees with repetitive tasks, offering insights and streamlining workflows.



Price Action: Microsoft shares rose 0.36% on Wednesday and edged up another 0.085% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga&#8217;s Edge Stock Rankings show a positive trajectory for MSFT across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance insights can be found here</a>.



<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 decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11231035/Screenshot-2025-06-12-at-8.33.47%E2%80%AFAM.png" alt="" class="wp-image-946931"/></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</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 Shuterstock

Equities

Government

Tech

Media

MSFT

Microsoft To Roll Out AI Copilot For Pentagon By Summer 2025, Tailoring Productivity Tool For High-Security Government Use: Report

On Wednesday, Cathie Wood&#8217;s Ark Invest made significant trades, with the most prominent being in Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>), Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Kratos Defense and Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), Cloudflare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) and Avidxchange Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDX#NASDAQ">AVDX</a>).



The BEAM Trade: Ark Invest&#8217;s ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) purchased 349,264 shares of Beam Therapeutics. The biotech company&#8217;s stock has been on the radar of many investors due to its innovative approach to genetic medicines.



The value of this trade, based on the day&#8217;s closing price, is approximately $6.25 million.



The GTLB Trade: GitLab also saw significant buying activity from Ark Invest. The ARKK and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) bought a combined total of 227,698 shares of the software company. GitLab has been gaining traction in the tech industry with its single application for the entire software development lifecycle. The total value of this trade is around $9.88 million.



The PLTR Trade: In contrast to the buying activity in BEAM and GTLB, Ark Invest sold shares of Palantir Technologies across its ARKK, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>).



This move comes after <a href="https://www.benzinga.com/25/05/45242668/cathie-wood-sells-41-million-worth-of-palantir-shares-following-post-earnings-plunge">Palantir&#8217;s stock faced pressure</a>, despite surpassing first-quarter earnings expectations, and amid a brewing controversy surrounding the company's alleged involvement in a surveillance program.



The total shares sold amounted to 53,829, with a value of around $7.34 million.



Other Key Trades:



<ul class="wp-block-list">
<li>Roblox Corp: Ark Invest sold 98,362 shares via the ARKK ETF.</li>



<li>Kratos Defense and Security Solutions Inc: Ark Invest sold a combined total of 83,378 shares across the ARKQ and ARKX ETFs.</li>



<li>Cloudflare Inc: Ark Invest sold 5,193 shares via the ARKW ETF.</li>



<li>CrowdStrike Holdings Inc: Ark Invest sold 1,969 shares via the ARKW ETF.</li>



<li>CoreWeave Inc: Ark Invest sold 12,728 shares via the ARKW ETF.</li>



<li>Avidxchange Holdings Inc: Ark Invest sold 96 shares via the ARK Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>).</li>
</ul>



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/06/45844424/apple-wwdc-2025-ios-26-announced-with-liquid-glass-design-new-apple-intelligence-features-and-more">Apple WWDC 2025: iOS 26, macOS Tahoe 26 And More Announced With Liquid Glass Design, Live Translation, Other Apple Intelligence Features</a></li>
</ul>



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



Photo courtesy: ChrisStock82 / Shutterstock.com

ARKF

ARKK

ARKQ

ARKW

ARKX

AVDX

BEAM

CRWD

CRWV

GTLB

KTOS

PLTR

RBLX

Cathie Wood's Ark Invest Continues To Offload Palantir, Loads Up On Beam Therapeutics, GitLab

A cryptocurrency named after GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) blasted to triple-digit gains Wednesday after the video game retailer announced plans to raise over a billion dollars for investment purposes.



What happened: BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based GameStop Coin (GME) soared a whopping 532% in the last 24 hours, defying the broader market correction. The memecoin recorded a significant surge in trader interest, with volume jumping by 53%.



GME outperformed blue-chip cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which fell 1.21% and 2.30%, respectively.



Note that the token is unrelated to GameStop and merely seeks to capitalize on the hype surrounding the meme stock.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>



Why It Matters: The explosive rally came after GameStop announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45893917/gamestop-stock-is-tumbling-after-hours-heres-why">proposed private offering</a> of $1.75 billion of 0.00% convertible senior notes to institutional buyers.



The company said it intends to use the net proceeds from the offering to make investments "consistent" with its investment policy.



Notably, GameStop adopted a <a href="https://www.benzinga.com/content/45684091/gamestop-buys-bitcoin-smart-strategy-or-big-mistake">Bitcoin treasury strategy</a> earlier this year and made its first purchases, about 4,700 BTC for $512.6 million, last month.



GameStop reported <a href="https://www.benzinga.com/markets/earnings/25/06/45872536/gamestop-q1-earnings-revenue-misses-despite-collectibles-growth-eps-beats-retailer-adds-4710-bitcoin">first-quarter revenue</a> of $732.4 million on Tuesday, missing analyst estimates of $754.24 million. The company reported adjusted earnings of 17 cents per share, beating analyst estimates of four cents per share



Price Action:&nbsp; At the time of writing, GME was exchanging hands at $0.000004406 down 0.75% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/gamestopcoin-net/">according </a>to CoinMarketCap.



Shares of GME plunged 11.2% in after-hours trading after closing 5.31% lower at $28.55 during Wednesday's regular trading session, 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;



GME stock recorded a high Growth score but lagged in Momentum and Value metrics as of this writing. If you want to fill your portfolio with similar high-growth stocks, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for reference.



<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="878" height="632" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172.png" alt="" class="wp-image-946961" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172.png 878w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12001719/image-172-768x553.png 768w" sizes="(max-width: 878px) 100vw, 878px" /></a></figure>



Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45876652/trump-family-backed-bitcoin-mining-firm-acquires-23-million-worth-of-btc-signals-more-accumulation-in-the-future">Trump Family-Backed Bitcoin Mining Firm Mines $23 Million Worth Of BTC, Signals More Accumulation In The Future</a></li>
</ul>



Photo Courtesy: Tada Images On Shutterstock.com

Cryptocurrency

Movers

Trading Ideas

$BNB

$BTC

$DOGE

GameStop-Themed Crypto Skyrockets Over 500% After Retailer Announces $1.75 Billion Investment Plan

Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Comcast Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) Universal Studios on Wednesday filed a copyright lawsuit against Midjourney, an AI-powered <a href="https://www.benzinga.com/news/24/08/40500831/midjourney-opens-web-experience-to-all-amid-controversy-over-unauthorized-use-of-artists-work">image generation service. </a>



What Happened: The companies submitted the lawsuit in a federal court in Los Angeles and accused Midjourney of unauthorized use and distribution of the studios' most famous characters, according to a Reuters report. 



The lawsuit called Midjourney&#8217;s platform a "bottomless pit of plagiarism." 



Read Next: <a href="https://www.benzinga.com/markets/tech/25/06/45885805/nvidias-jensen-huang-sparks-quantum-stock-frenzy?utm_source=articleShare">Nvidia&#8217;s Jensen Huang Sparks Quantum Stock Frenzy</a>



The companies alleged that Midjourney unlawfully copied and distributed countless images featuring characters such as Darth Vader from "Star Wars," Elsa from "Frozen" and the Minions from "Despicable Me," among others.



Disney and Universal claimed they had previously asked Midjourney to stop infringing on their copyrighted works or, at least, to implement technical measures to prevent such use, but the company reportedly ignored these requests. 



Instead, the studios argued, Midjourney continued to release improved versions of its service, resulting in higher-quality infringing images. The lawsuit was filed by seven corporate entities representing the Disney and Universal film units that owned or managed the copyrights for these characters.



Disney and Universal are seeking a preliminary injunction to block Midjourney from copying their works or offering its image and video generation services without protections against copyright infringement. The studios are also pursuing unspecified damages.



Read Next: <a href="https://www.benzinga.com/news/space/25/06/45840240/trump-musk-feud-fuels-spacex-rivals-space-stock-countdown?utm_source=article">Trump, Musk Feud Fuels SpaceX Rivals: Space Stock Countdown</a>



Why It Matters: Midjourney was also named in a <a href="https://www.benzinga.com/general/24/02/37398914/the-4-700-artist-ai-controversy-artists-accuse-midjourney-and-other-ai-firms-of-unauthorized-use-in">separate 2023 lawsuit</a>, which remains ongoing.



The suit claimed several AI image generators, including Midjourney, had used the works of over 4,700 artists, including well-known names such as Norman Rockwell and Wes Anderson, to train their systems without consent or compensation.



The controversy gained traction after artist Jon Lam shared the "Midjourney Style List" on social media, sparking debate about the lack of regulation in the AI-generated art space. 



The list, reportedly disclosed by Midjourney's founder in a public forum, fueled artists' frustrations over being excluded from the profits made by AI platforms that monetize their styles through subscription services. 



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/06/45851086/these-are-the-3-hottest-stock-market-themes-trending-now?utm_source=articleShare">These Are The 3 Hottest Stock Market Themes Trending Now</a></li>
</ul>



Image: Shutterstock

Legal

CMCSA

Disney, Universal Studios Sue AI-Image Generator Midjourney For Copyright Infringement

Scottie Scheffler has taken the golf world by storm <a href="https://www.benzinga.com/general/sports-betting/24/07/39940590/scottie-scheffler-gold-medalist-golfer-looks-to-turn-2024-pga-tour-success-into-a-2024-oly">in recent years</a> and enters the 2025 US Open as the heavy betting favorite. The golfer shared a unique story about his Venmo account ahead of the tournament.



What Happened: Scheffler has made bettors <a href="https://www.benzinga.com/news/22/04/26569375/scottie-scheffler-wins-the-masters-how-much-a-100-bet-on-the-golfer-paid-out-and-how-one-bettor-made">plenty of money</a> in recent years with his top form on the golf course, which includes several major tournament wins.



Those who bet on Scheffler are also the reason why the golfer no longer has a Venmo account, the financial app to send money to other people owned by PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>).



When asked about being the betting favorite for this year's U.S. Open, June 12-15 at the Oakmont Country Club in Oakmont, Pennsylvania, Scheffler got real with the difference between him and fan expectations.



"I think everybody hears from fans whether they have a financial benefit. That's why I had to get rid of my Venmo," Scheffler <a href="https://x.com/GolfDigest/status/1932550169527984156">said</a>, as shared by Golf Digest.



Scheffler said that it wasn't a good feeling after he lost to get requests from fans.



"I was either getting paid by people or people were requesting a bunch of money when I didn't win."



Scheffler said he received a "couple of bucks" here and there when he would win, but the requests would always outnumber the payments when he was on the losing end.



The golfer said he doesn't pay attention to betting odds and starting Thursday, all the golfers in the U.S. Open are at par and playing against the golf course.



Read Also: <a href="https://www.benzinga.com/news/22/04/26581052/cinderella-story-not-quite-but-scottie-schefflers-masters-win-adds-to-incredible-run-of-success-in-2">Cinderella Story? Not Quite, But Scottie Scheffler&#8217;s Masters Win Adds To Incredible Run Of Success In 2022</a>



Betting Odds: The U.S. Open kicks off Thursday and coverage will be provided by Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) via television on USA and NBC and streaming on Peacock. Thursday's opening round kicks off at 6:30 a.m. ET and goes to 8 p.m. ET with Sunday's coverage going from 9 a.m. to 7 p.m. ET.



Scheffler begins his round Thursday at 1:25 p.m. ET.



At sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Scheffler is the betting favorite at +275, significantly ahead of Bryson DeChambeau (+75O), Jon Rahm (+1,200) and Rory McIlroy (+1,200), who round out the top four picks.



According to <a href="https://x.com/DavidPurdum/status/1932817555623719110">ESPN</a>, there have been more bets on Scheffler winning than all other golfers combined at ESPN Bet, which is operated by PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>).



Scheffler, being a heavy favorite, puts him in similar company to Tiger Woods. The golfer has been the favorite or co-favorite for 11 consecutive major golf tournaments, which is the third-largest streak in the past 40 years as <a href="https://www.actionnetwork.com/golf/tiger-territory-scottie-schefflers-historic-odds-at-2025-u-s-open">reported </a>by Action Network. Scheffler trails only two streaks by Woods for the longest streak.



Scheffler has had odds of +275 or lower five times and won two of those five tournaments.



On the current PGA Tour <a href="https://www.pgatour.com/player/46046/scottie-scheffler/results">season</a>, Scheffler has three wins from 12 events, nine top 10 finishes, 12 top 25 finishes and made the cut in all 12 tournaments.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/sports/25/04/44803388/rory-mcilroys-masters-win-good-for-golf-bad-for-sportsbooks-bettors-backing-golfer-to-win-more-majors">Rory McIlroy&#8217;s Masters Win Good For Golf, Bad For Sportsbooks: Bettors Backing Golfer To Win More Majors</a></li>
</ul>

Entertainment

Sports Betting

Sports

DKNG

PENN

PYPL

Scottie Scheffler Is The US Open Betting Favorite: Just Don't Ask Him For A Refund On Venmo If He Loses

Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) shares are higher in Wednesday's extended trading session after The Information <a href="https://www.theinformation.com/articles/saudi-arabia-looking-homeward-ai-buildout-taps-cisco-amd-cloud-project">reported</a> the companies will invest in a Saudi <a href="https://www.benzinga.com/tech/25/05/45402126/mohammed-bin-salman-launches-saudi-ai-firm-humain-led-by-ex-aramco-digital-ceo-as-trump-hails-golden-era-with-600-billion-in-us-deals">AI-related cloud project. </a>



Last month, Cisco and AMD announced they will be joining HUMAIN's <a href="https://www.benzinga.com/government/regulations/25/05/45441791/nvidia-scores-big-as-trump-brokers-major-ai-export-pact-with-uae-and-us-tech-giants">alliance to build</a> Saudi Arabia's future AI infrastructure.



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"The Gulf region&#8217;s AI revolution is truly impressive, and Cisco is proud to play a key role in ensuring it is implemented intelligently, securely, and with trusted partners to drive maximum value for governments, businesses, and consumers," Cisco CEO Chuck Robbins said following the May announcement.&nbsp;



AMD's CEO Dr. Lisa Su made similar comments following last month's announcement.&nbsp;



&#8220;Our investment with HUMAIN is a significant milestone in advancing global AI infrastructure. Together, we are building a globally significant AI platform that delivers performance, openness and reach at unprecedented levels,&#8221; Su said.&nbsp;



AMD, CSCO Price Action: AMD shares were up 0.59% at $121.85 &nbsp;and Cisco shares were up 0.95% at $64.80 in extended trading Wednesday, according to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;



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Saudi Arabia Taps AMD, Cisco For Cloud Project: Report

Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) released its financial results for the fourth quarter of fiscal 2025 after the market close on Wednesday. Here&#8217;s a rundown of the <a href="https://www.benzinga.com/pressreleases/25/06/n45892541/oracle-announces-fiscal-2025-fourth-quarter-and-fiscal-full-year-financial-results">tech giant&#8217;s report</a>.



Q4 Earnings: Oracle reported fourth-quarter revenue of $15.9 billion, beating analyst <a href="http://benzinga.com/quote/orcl/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $15.58 billion. The company reported fourth-quarter adjusted earnings of $1.70 per share, beating analyst estimates of $1.64 per share, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



Total revenue was up 11% on a year-over-year basis. Here&#8217;s a breakdown of revenue by segment:



<ul class="wp-block-list">
<li>Cloud: $6.7 billion, up 27%</li>
</ul>



<ul class="wp-block-list">
<li>Cloud Infrastructure: $3 billion, up 52%</li>
</ul>



<ul class="wp-block-list">
<li>Cloud Application: $3.7 billion, up 12%</li>
</ul>



<ul class="wp-block-list">
<li>Fusion Cloud ERP: $1 billion, up 22%</li>
</ul>



<ul class="wp-block-list">
<li>NetSuite Cloud ERP: $1 billion, up 18%</li>
</ul>



Oracle noted that its MultiCloud database revenue from Amazon, Google and Azure grew 115% quarter-over-quarter. Remaining performance obligations totaled $138 billion at the end of the quarter, up 41% year-over-year. 



Oracle ended the period with approximately $10.79 billion in cash and cash equivalents.



&#8220;FY25 was a very good year — but we believe FY26 will be even better as our revenue growth rates will be dramatically higher,&#8221; said&nbsp;Safra Catz, CEO of Oracle.



&#8220;We expect our total cloud growth rate — applications plus infrastructure — will increase from&nbsp;24%&nbsp;in FY25 to over&nbsp;40%&nbsp;in FY26. Cloud Infrastructure growth rate is expected to increase from&nbsp;50%&nbsp;in FY25 to over&nbsp;70%&nbsp;in FY26. And RPO is likely to grow more than&nbsp;100%&nbsp;in FY26.&#8221;



Oracle said it expects to continue to see triple-digit MultiCloud revenue growth in fiscal 2026. The company currently has 23 MultiCloud data centers in operation and 47 more are expected to be built over the next 12 months. Oracle also has 29 Cloud@Customer dedicated data centers live with another 30 expected to be built in fiscal 2026.



Oracle Cloud Infrastructure&nbsp;(OCI) consumption revenue grew 62% in the fourth quarter. 



&#8220;We expect OCI consumption revenue to grow even faster in FY26. OCI revenue growth rates are skyrocketing — so is demand,&#8221; said Larry Ellison, chairman and CTO of Oracle.



Oracle&#8217;s board declared a quarterly cash dividend of 50 cents per share, payable on July 24 to shareholders of record as of July 10.



Oracle usually discusses its forward outlook on its earnings call, which is scheduled for 5 p.m. ET.



ORCL Price Action:&nbsp;<a href="https://www.benzinga.com/quote/ORCL" target="_blank" rel="noreferrer noopener">Oracle shares</a>&nbsp;were up 6.99% in Wednesday&#8217;s after-hours session, trading at $188.36 at the time of publication, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.



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Oracle Q4 Earnings: Revenue, EPS Beat Estimates, Cloud Infrastructure Growth Expected To Accelerate With Demand 'Skyrocketing'

Wall Street flipped into the red Wednesday afternoon after news broke that the U.S. is pulling some embassy staff from multiple Middle Eastern countries, a move<a href="https://www.benzinga.com/news/econ-s"> that reignited geopolitical fears.</a>



Just after 3:00 p.m. ET, several news outlets, including the Associated Press, reported that the U.S. State Department had ordered all nonessential personnel to leave the embassy in Baghdad while authorizing voluntary departures <a href="https://apnews.com/article/state-department-embassy-baghdad-f892ebd6a50850ef5650f31819541bff?taid=6849c3fa1fa51b000125a8a6" target="_blank" rel="noopener">in Bahrain and Kuwait.</a><a href="https://apnews.com/article/state-department-embassy-baghdad-f892ebd6a50850ef5650f31819541bff?taid=6849c3fa1fa51b000125a8a6"> </a>



Though the Baghdad Post was already operating with limited staff, the latest move raised eyebrows among investors.



<h3 class="wp-block-heading">Markets Flip, Gold And Oil Prices Rise</h3>



Stocks edged higher early Wednesday, helped by a softer-than-expected inflation report and President Donald Trump&#8216;s upbeat trade talk, which hinted at progress in a trade deal with China.



Traders rotated out of equities and into safe-haven assets as the embassy developments stirred geopolitical concerns. 



The market reaction was swift. The Dow Jones Industrial Average gave up nearly 300 points from its earlier peak of 43,115, dipping to 42,860 late in the session. 



The S&amp;P 500 fell about 50 points to close at the 6,020 level, while the Nasdaq 100 slid to 21,860 from a session high of 22,000.



S&amp;P 500&#8217;s top daily performers on Wednesday were Starbucks Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>) and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), up 4.1% and 3.9%, respectively. Major laggards were Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) down 6.1% and 5.3%, respectively. 



Gold prices – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – climbed 0.7% to $3,345 an ounce, drawing safe-haven demand. Oil witnessed a strong rally, with crude prices jumping 4.3% to break above $67 a barrel—the biggest one-day gain since April 9 and second-strongest since October 2024.



<h3 class="wp-block-heading">Iran Nuclear Tensions Add Fuel</h3>



Tensions between Washington and Tehran have risen in recent days as nuclear talks stall ahead of a sixth round of negotiations, tentatively set for Sunday, June 15 in Oman.



The U.S. is standing firm against Iran's efforts to enrich uranium and develop nuclear weapons. Iran, in turn, has labeled any enrichment ban as unacceptable and is demanding real sanctions relief before making any concessions.



As Reuters reported Wednesday, Iran's Defense Minister threatened possible strikes on U.S. bases if the talks break down and conflict erupts.



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US Embassy Evacuations Spark Middle East Risks, And Markets Are Noticing

Nuclear energy stocks have been partying like it's 1979, riding a wave of tailwinds that could set up an industry revival. President Donald Trump <a href="https://www.benzinga.com/news/mid-cap/25/05/45587750/uranium-stocks-surge-trumps-nuclear-push-sparks-double-digit-gains">presented a new series of executive orders</a> on May 23 aimed at boosting nuclear production and reducing regulatory burdens. Still, the push to bring nuclear energy back into the mainstream has been underway for years.



Clean energy initiatives and the ever-growing power demands of AI data centers have contributed to the renewed push for nuclear energy. Unlike wind or solar energy, atomic energy is consistent and does not require favorable weather conditions to function. It&#8217;s also a clean energy source, which is why tech leaders and regulators have been quick to embrace it as power demands grow.



But while the upside is vast, investors will need to be patient. Nuclear power plants take years to build and require tremendous human resources and capital.



However, tech money is already rolling into nuclear power providers, and several companies have innovations in the pipeline that could reduce construction times and expenses. 



<h2 class="wp-block-heading">Reserve Your Spot To Power Pattern Profits LIVE With This 30-Year Master Trader</h2>



For the last decade, these three ‘Power Patterns' have been accurate an astonishing 90% of the time. Now they're firing up again over the next 75 days. And 30-year veteran trader Tom Gentile will show you LIVE how to position yourself for potential gains. Reserve Your Seat <a href="https://events2.benzinga.com/power-pattern-profits-1?utm_campaign=power-pattern-registration">HERE</a> to this Benzinga Exclusive Event



Here are four nuclear energy stocks set to become leaders as the nuclear revival grows.



<h2 class="wp-block-heading">Constellation Energy Corp.</h2>



Constellation Energy&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>) made headlines this week by <a href="https://www.benzinga.com/markets/large-cap/25/06/45748439/constellation-energy-signs-20-year-nuclear-power-deal-with-meta-stock-surges">announcing a partnership</a> with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). The deal is a 20-year power purchase agreement that will provide Meta Platforms with 1,121 megawatts of nuclear power to support its clean energy initiatives. Constellation's Clinton Clean Energy Center will be sourcing the power, which was in danger of closing when its zero emissions credit from Illinois expired. Now that Meta will be taking power starting in 2027, the plant will remain open for another two decades, and the stock briefly hit $340 on the promising news.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcrnhecu0hhv3FyY-7HNTT4ybPzFUesisy9NDKhgRJIjm3Eb8o4ZFwSaL7xixYe_B-dsW3Mqc6wXf9rEPVzW13arlCgRS_a04SIagElloo1Hm1Jf5f5DuPVHpzzawUFLNaK_3XGpw?key=jcaDfLI0wDOIAUpmQMjikg" alt=""/></figure>



Constellation is one of the largest public nuclear energy companies, with a market capitalization of $98 billion and annual sales exceeding $24 billion. Unlike many of the other companies on this list, it offers a diverse energy portfolio that includes fossil fuels such as natural gas, as well as clean sources like wind and solar. It also has the profit growth to back up the hype. The company reported EPS of $2.14 and revenue of $6.79 billion in its May 6 earnings release, blowing past the expectations of $2.11 and $5.34 billion. BMO Capital and UBS increased their price targets after the report to $337 and $320, respectively, before the major Meta partnership announcement. Expect more price target hikes in the coming days and weeks, as CEG shares seem set to make new all-time highs this year.



<h2 class="wp-block-heading">Oklo Inc.&nbsp;</h2>



Oklo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>), a developer of fission power plants, stands to be a significant beneficiary of Trump's orders as its facilities are not far from operational and are fueled by a key resource. Its reactors also use high-assay, low-enriched uranium, or HALEU, a higher-quality fuel product than traditional plants, which was mentioned by name in the executive orders. 



OKLO shares approached new all-time highs following the announcement, but some profit-taking this week might open up new entry points.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdMrsTmt-J6FwehCO1_5KSkqAjArZ0Mhm5FLQ7o7mrclyRnOywbwWdDiYDKzK0YGUubJYmVAXoJNEC4Pz2OiPuIj8ogvvmD6S6IMYaZqUET2YOpV2DmjBgQmui-baRQtk6GsK9xSQ?key=jcaDfLI0wDOIAUpmQMjikg" alt=""/></figure>



OKLO made a new all-time high in February but retreated when tariffs spooked the market. After bouncing off the 200-day moving average, the stock entered a new uptrend and now trades above the 50-day and 200-day moving averages. A 70 on the Relative Strength Index triggered some profit-taking earlier this week, but a quick 5% drop is good news for investors looking to get in at a better price. The stock's Benzinga Edge Momentum Score of 99.30 indicates the uptrend remains firmly in place.



<h2 class="wp-block-heading">NuScale Power&nbsp;</h2>



NuScale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) is the only company with a small modular reactor (SMR) module that has garnered approval from the U.S. Nuclear Regulatory Commission (NRC). And while no SMR facility has been built in the United States yet, the Trump Administration aims to change that through the executive orders released two weeks ago. SMRs are smaller and require less time and capital to construct, making them an ideal solution for companies that want to scale up nuclear operations incrementally. NuScale shares, which ignited new all-time highs on the Tuesday after Memorial Day, have bullish fundamentals and technicals behind them.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeYZpHHXHXjyKAKmyzc4LIsYHmDLv1XwBdQzvIy2RM9mGBw0L13DoJDbBDYTYmgQz6xaFs-hM2UWP2vv7XZ-oWlTRquyCQWz5q60Crl6ojZWU88NFH1TDnnWiu94MB6kCuVy4m59w?key=jcaDfLI0wDOIAUpmQMjikg" alt=""/></figure>



The stock reached a new all-time high on substantial volume, triggering a Golden Cross as the 50-day moving average surpassed the 200-day moving average. A 98.32 Benzinga Edge Momentum Score indicates that this uptrend has significant strength, and it&#8217;s not just technical indicators sending bullish signals. NuScale, which has deals in place with data centers in Ohio and Pennsylvania, reported an impressive earnings beat on May 12, with revenue exceeding expectations by nearly 300%. The stock received three price target boosts following the earnings report and Trump's executive orders, led by CLSA, which bumped its target to $41, indicating nearly a 30% upside. SMR shares pulled back this week as the Relative Strength Index (RSI) reached overbought territory, but this retreat from all-time highs could be a good entry point for new positions.



<h2 class="wp-block-heading">Cameco Corp.&nbsp;</h2>



Cameco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>) might not be making deals with any mega-cap tech companies, but powering these data centers would likely be impossible without the company's uranium products. Cameco is one of the biggest worldwide uranium miners, with operations spanning four continents.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcEfaHz_feUsOVQJvNfnQ1IGJjO4bJm2DRI_eFyzSSm2b9vKCrQwxOkz-xOGpgoOEaEaHytsazXYEraOa-E5xt6Vaqxvz-eVmVGLwuM9mqXOPYYx-yjuZvZu7sQRe_MGFsFDhaijw?key=jcaDfLI0wDOIAUpmQMjikg" alt=""/></figure>



Despite the sector tailwinds, CCJ shares have been stuck in a trading range since last summer. However, now that energy demands are increasing and regulators are becoming increasingly positive about nuclear, the catalysts are in place for the stock to finally break out to new highs. A bullish MACD crossover is helping boost momentum as the stock tries to shake off an earnings miss from May 1. Despite the earnings miss, analysts remain optimistic about the stock, with a consensus Buy rating and an average price target of $67.91. Goldman Sachs initiated coverage on May 20 with a Buy rating and a price target of $65, projecting an 8.5% upside from current prices.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

Opinion

OKLO

4 Stocks To Play The Nuclear Energy Revival

As gold trades near all-time highs and global central banks ramp up reserves, a bold thesis is emerging from one of Wall Street&#8217;s most influential macro voices: the U.S. Treasury may already be stockpiling gold—and just <a href="https://www.benzinga.com/topic/gold">hasn't told anyone yet.</a>



"I think there is a chance that the U.S. Treasury might be participating in this accumulation of gold," said Otavio Costa, portfolio manager at the hedge fund Crescat Capital, in an exclusive interview with Benzinga. 



"If you're a large institution and anything you do moves the market, you don't announce it—you do it first, and tell the world after."



"There is a big chance that the U.S. treasury is already accumulating some gold," he added.



Costa's comments come at a time when gold prices have defied historical relationships, surging in 2025 despite elevated yields and no Federal Reserve rate cuts.&nbsp;



The metal – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – is up over 25% year-to-date, trading near $2,340 per ounce.



<h3 class="wp-block-heading">Is The Treasury Secretly Stockpiling Gold?</h3>



Costa likened the idea to the Strategic Petroleum Reserve, suggesting the Treasury could quietly be building a monetary backstop in the form of physical gold.



"It wouldn't fall into the sovereign wealth fund category, but it could fall into the Treasury itself, in terms of ownership of things like oil" he said.



While Costa emphasized that this is speculation and "nobody has any data" to confirm it, he pointed to the disconnect between physical demand and price action as a possible clue.&nbsp;



"We&#8217;ve seen the volume in gold not in line with how much price appreciation we've experienced," he said.



"Large institutions need to go back into owning neutral assets," Costa said. "Gold is the only asset that carries significant history behind it… even more than Bitcoin."



The expert said he couldn't confirm Benzinga's inquiry about the large volumes of gold reportedly moved from London to New York this year as a possible sign of U.S. Treasury accumulation.



<h3 class="wp-block-heading">Central Banks Are Still Underinvested In Gold</h3>



Gold&#8217;s bullish thesis, according to Costa, remains intact not just because of potential U.S. accumulation but due to historically low central bank allocation.



&nbsp;"We&#8217;re still about 20% of central banks' balance sheets in terms of metal ownership," he said.



That's well below the 75% peak seen in the late 1970s and early 1980s.&nbsp;



"Once we see gold allocation by central banks get back to above 60% or 70%, I'll probably change my views," Costa added. "But we are very far from that."



Costa also highlighted how dramatically investor sentiment has changed over the past few years.



"Three years ago, the biggest question I used to have was if Bitcoin was going to replace gold. Do you know how many times I get asked that question now? Never," he said.



According to Costa, gold's strong performance has reestablished its role as the premier monetary asset, especially in a world grappling with debt, inflation and geopolitical realignment.



<h3 class="wp-block-heading">Lower Interest Rates, Deglobalization Could Further Fuel The Gold Boom</h3>



Unlike previous cycles, gold's rally has unfolded without help from falling interest rates or declining real yields. Costa says the traditional relationship between gold and real rates is breaking down.



"Real rates could be a challenging way to forecast gold now," he said.&nbsp;



"Eventually, we're going to have to force yields lower to manage the debt problem, and that's when gold has its best moment."



Another long-term driver Costa cited is the global trend toward deglobalization, which supports increased holdings of neutral reserve assets like gold.



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Is The US Secretly Hoarding Gold? Expert Says 'Do It First, Tell the World After'

A mix of bullish catalysts is poised to lift investor sentiment Wednesday, as President Donald Trump confirmed a China trade deal and fresh inflation data came in softer <a href="https://www.benzinga.com/markets/economic-data/25/06/45881899/inflation-resumes-climb-in-may-but-tariffs-have-yet-to-hit-consumers">than expected for May.</a>



Trump declared a sweeping new trade agreement with China via Truth Social following two days of negotiations in London, suggesting major concessions from Beijing and lighter U.S. obligations.



&#8220;Full magnets, and any necessary rare earths, will be supplied, up front, by China,&#8221; Trump said, adding that the U.S. would reciprocate by allowing Chinese students access to U.S. colleges. 



The deal, pending final approval with Chinese President Xi Jinping, includes a significant tariff shift. The U.S. will continue applying tariffs totaling 55% on selected Chinese imports, while China will impose a 10% tariff rate on U.S. goods.



<h3 class="wp-block-heading">Inflation Rises Less Than Expected In May, Easing Tariff Anxiety</h3>



U.S. consumer inflation was softer than expected in May, reinforcing expectations for Federal Reserve rate cuts later this year.



The Consumer Price Index rose 2.4% from a year earlier, undercutting the 2.5% forecasted by economists and edging slightly above April's 2.3% reading. On a monthly basis, prices climbed just 0.1%, slower than both the prior month's 0.2% and the consensus estimate.



Core CPI—which excludes food and energy—held steady at 2.8% year over year, missing the 2.9% projection. Month over month, core prices advanced only 0.1%, undershooting the expected 0.3%.



Energy prices were a major drag, falling 1% in May. Gasoline plunged 2.6%, reversing the prior month's rise. On the flip side, services like medical care and motor vehicle insurance saw upward pressure.



&#8220;With lower-than-expected numbers across the board and a trade deal with China that was agreed to in London, the narrative around tariff-induced inflation should subside,&#8221; said Chris Zaccarelli, chief investment officer for Northlight Asset Management.



<h3 class="wp-block-heading">How Close Are We to New Highs?</h3>



In premarket trading, the S&amp;P 500 index traded at 6,050, up 0.20%, while the Nasdaq 100 added 0.25% to reach 21,990.



The Dow Jones Industrial Average gained 0.1% to 42,924.



Both the S&amp;P 500 and Nasdaq 100 are now less than 2 percentage points from their all-time highs, at 1.6% and 1.1% away, respectively.



According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a> platform, top-gainers within large-cap stocks following the release of the inflation included:



<ul class="wp-block-list">
<li>CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWE#NASDAQ">CRWE</a>) gained 3.57% to $159.70</li>



<li>NICE Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>) rose 3.33% to $179.00</li>



<li>Best Buy Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) added 3.14% to $76.00</li>



<li>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) climbed 3.03% to $78.15</li>



<li>Honda Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) increased 2.97% to $29.36</li>



<li>Amer Sports Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) rose 2.86% to $38.69</li>



<li>IDEXX Laboratories Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) gained 2.85% to $540.00</li>



<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) advanced 2.74% to $43.40</li>



<li>Skyworks Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) jumped 2.67% to $75.98</li>



<li>Teradyne Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) added 2.59% to $90.47</li>
</ul>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45870128/meta-platforms-enters-its-most-bullish-month-a-return-to-record-highs-in-sight">Meta Platforms Enters Its Most Bullish Month: A Return To Record Highs In Sight?</a></li>
</ul>



Photo: Shutterstock<a href="https://www.benzinga.com/markets/large-cap/25/06/45870128/meta-platforms-enters-its-most-bullish-month-a-return-to-record-highs-in-sight"> </a>

Macro Economic Events

CHWY

CRWE

IDXX

NICE

SWKS

Wall Street Eyes Record Highs As Trump Seals China Deal, Soft Inflation Eases Tariff Jitters

U.S. stocks ticked higher at midday Wednesday, buoyed by signs of progress in U.S.-China trade negotiations and cooler-than-expected inflation data, both of <a href="https://www.benzinga.com/news/25/06/45882971/wall-street-eyes-record-highs-as-trump-seals-china-deal-soft-inflation-eases-tariff-jitters">which supported risk appetite.</a>



President Donald Trump announced that a new trade agreement with China had been reached, pending final signatures from him and Chinese President Xi Jinping.



On the economic front, the Bureau of Labor Statistics reported that annual consumer inflation rose to 2.4% in May, slightly below the 2.5% forecast. Core inflation held steady at 2.8%, also coming in softer than expected.



The S&amp;P 500 is aiming for a fourth consecutive gain, while the Dow Jones Industrial Average topped 43,000 — a level last seen on March 5.



Treasury yields fell across the curve, with the 10-year yield dropping five basis points to 4.43%. The U.S. dollar slipped 0.4% as the data reinforced expectations for two Fed rate cuts by year-end.



Gold edged up 0.2% to $3,330 an ounce, while platinum surged more than 5%. Crude oil jumped 3% to above $66.50 per barrel after Trump cast doubt on a potential nuclear deal with Iran, with the Tehran government threatening retaliation if talks fail.



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.7% to $109,500.



<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %</td></tr><tr><td>Dow Jones</td><td>42,976.07</td><td>0.3%</td></tr><tr><td>Russell 2000</td><td>2,159.81</td><td>0.2%</td></tr><tr><td>S&amp;P 500</td><td>6,036.78</td><td>0.0%</td></tr><tr><td>Nasdaq 100</td><td>21,924.84</td><td>-0.1%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:18 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) flattened at $553.99.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.2% up to $430.23.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 0.1% to $533.50.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) held steady at $214.42.</li>



<li>The&nbsp;Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 0.3%; the&nbsp;Materials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 0.8%.</li>
</ul>



<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>



<ul class="wp-block-list">
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) rose 3.6% to a fresh record high of $137 on Wednesday after Mizuho analysts raised their price target on the defense software firm.</li>



<li>Starbucks Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>) rallied 3.4% after Citigroup and RBC raised the price target to $95 and $100, respectively. </li>



<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) fell over 5% after reports surfaced that the U.S. Air Force plans to cut its F-35 fighter jet procurement by half.</li>



<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares were up slightly and<a href="https://www.benzinga.com/trading-ideas/previews/25/06/45874422/oracle-q4-earnings-preview-will-company-snap-two-quarter-losing-streak-market-expert-says-attention-on-cloud-revenue-growth"> will report earnings after the close</a>.</li>
</ul>



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45888833/mcdonalds-just-got-hammered-by-weight-loss-drugs-twice">McDonald&#8217;s Just Got Hammered By Weight-Loss Drugs — Twice </a></li>
</ul>



Photo: Shutterstock

Dow Jones Breaks 43,000, Palantir Hits New Record Highs: What's Driving Markets Wednesday?

Inflation resumed its climb in May, snapping a four-month streak of easing price pressures, yet rising input costs from tariffs failed to significantly <a href="https://www.benzinga.com/news/econ-s">spill into consumer prices.</a>



The annual rate of increase in the Consumer Price Index (CPI) was 2.4% last month, marking a slight acceleration compared to the 2.3% surge in April, the Bureau of Labor Statistics showed Wednesday. 



The outcome missed economist expectations of 2.5%. Prior to the inflation data, traders had priced in a cumulative 35 basis points of interest rate cuts by year-end.



On a monthly basis, the CPI basket rose by just 0.1%, decelerating from April&#8217;s 0.2% and below economist forecasts. 



Excluding food and energy, core inflation remained at 2.8% year-over-year, falling short of expectations of a rise to 2.9%. 



Monthly core prices rose 0.1%, decelerating from April's 0.2% increase and missing the projected 0.3% rise.



Indexes that rose in May included medical care, motor vehicle insurance, household furnishings, personal care, and education. In contrast, airline fares, used and new vehicle prices, and apparel declined. The energy index fell 1.0% following a 0.7% gain in April, with gasoline prices down 2.6% month-over-month. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Inflation measure</th><th>May 2025</th><th>Previous</th><th>Expected</th></tr></thead><tbody><tr><td>CPI YoY</td><td>2.4%</td><td>2.3%</td><td>2.5%</td></tr><tr><td>CPI MoM</td><td>0.1%</td><td>0.2%</td><td>0.2%</td></tr><tr><td>Core CPI YoY</td><td>2.8%</td><td>2.8%</td><td>2.9%</td></tr><tr><td>Core CPI MoM</td><td>0.2%</td><td>0.2%</td><td>0.3%</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Market Reactions</h3>



A lower-than-expected inflation print may continue to fuel investor sentiment on Wednesday, which was also bolstered by optimism around U.S.-China trade talks. 



President Donald Trump announced on Truth Social that a deal with China has been reached, awaiting final sign-off from President Xi Jiping and himself.



U.S. equity futures rose in premarket trading, with S&amp;P 500 contracts up 0.5% and Nasdaq 100 futures rising 0.6% as of 8:39 a.m. ET.



On Monday, the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) closed at $554.39, just 1.6% below its record high.



Meanwhile, the U.S. dollar index—as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>)—fell 0.4%.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45870128/meta-platforms-enters-its-most-bullish-month-a-return-to-record-highs-in-sight">Meta Platforms Enters Its Most Bullish Month: A Return To Record Highs In Sight? </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Federal Reserve

Inflation Resumes Climb In May, But Tariffs Have Yet To Hit Consumers

There&#8217;s a well-worn line in value investing circles that says, &#8220;I want to invest with people who eat their own cooking.&#8221; In other words, you want the people running the company to have a meaningful chunk of their net worth tied up in the business. You want their wins to be your wins and their losses to sting just as badly as they do for outside shareholders.



That&#8217;s not just a preference. It's a filter that can dramatically improve your odds of long-term success in the stock market.



High insider ownership, where executives, directors and sometimes founders maintain significant equity stakes in their own companies, has historically been associated with better returns, better governance, and more durable businesses. While it&#8217;s not a silver bullet, it&#8217;s one of those factors that keeps showing up in the best investment stories and its merits are well worth understanding.



Let&#8217;s begin with the obvious: incentives matter. The principal-agent problem, where the goals of shareholders and management diverge, is one of the oldest and most persistent flaws in corporate America. When management is paid with stock options and RSUs but owns little real equity, they are playing a different game than you are. They may chase short-term stock pops, overpay for acquisitions, or juice earnings just long enough to cash out.



Managers with real skin in the game tend to think more like owners and less like employees. They are more frugal, more focused, and more likely to take the long view. They are less likely to use shareholder money to fund pet projects or trophy headquarters and more likely to reinvest prudently or return capital.



That&#8217;s not theoretical. Academic literature backs this up.



One of the most well-known studies in this field is by Morck, Shleifer and Vishny (1988), which examined the relationship between insider ownership and firm performance. They found that companies with insider ownership tended to outperform, especially when those insiders were founder-operators or long-term stewards.



<h2 class="wp-block-heading">5 Dark Horse Stocks Most Investors Aren't Following (But Should)</h2>



Every Friday, five overlooked stocks land on our ‘Whisper Index'.' Like Coinbase before it surged 245% higher. And the biotech breakthrough Insmed before it jumped 20% in a single month. Beat Wall Street to these next potential winners. Access the Whisper Index <a href="https://www.benzinga.com/premium/ideas/benzinga-edge/?">HERE</a>



Let&#8217;s discuss real-world examples. Consider the long-term success of companies like Constellation Software (run by founder Mark Leonard), Berkshire Hathaway (Buffett owns ~15% of the company), or Old Dominion Freight Line (run for decades by the Congdon family). These are not rent-a-manager outfits. They are companies with long-term visionaries at the helm who live and breathe the business.



Owner-operators don&#8217;t need to be reminded to think about shareholders. They are the shareholders. They&#8217;re more likely to maintain conservative balance sheets, repurchase shares at undervalued levels, and focus on sustainable free cash flow rather than cosmetic metrics that trigger a bonus.



That&#8217;s not to say they&#8217;re infallible. Founder-led businesses can be stubborn and slow to pivot. But the long-term results suggest that when you back a capable owner with real skin in the game, your odds of compounding capital go up.



Insider ownership works best as an investment filter in conjunction with other value-driven signals. If you&#8217;re already screening for low price-to-book, high free cash flow yield, or improving return on capital, adding insider ownership can significantly improve your hit rate.



It&#8217;s particularly powerful in small-cap land, where liquidity is thin and institutional ownership is low. This is where information asymmetries are greatest and insiders have the most edge.



It also plays well in special situations: restructurings, spin-offs, and deep-value turnarounds. When insiders step up in those moments, they often see something the market has missed or misunderstood.



In a market full of noise, buybacks and accounting tricks, insider ownership is one of the few things you can still count on. It tells you who is riding alongside you—and who is just along for the ride.



As investors, we spend a lot of time looking for edges. Some are ephemeral. Some are overfished. But the edge you get by aligning yourself with people who are financially and emotionally invested in their business—that&#8217;s durable. It&#8217;s old-fashioned. And it works.



So the next time you&#8217;re researching a stock, pull up the proxy statement and look at the insider roster. Are they buying? Are they holding? Or are they just renting the title?



Because in the end, when the people running the show are betting their own money, the odds of a good outcome go up.



Here are three stocks that are undervalued and have massive amounts of skin in the game:



Worthington Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) is a recent spinoff from Worthington Enterprises (formerly Worthington Industries), focusing squarely on value-added steel processing. The company serves a diversified customer base in automotive, construction and agriculture, providing flat-rolled steel solutions, including galvanizing, pickling, slitting, and laser welding.



As a pure-play steel processor, WS is tightly leveraged to domestic industrial production and reshoring trends in U.S. manufacturing. The company&#8217;s focus on higher-margin, engineered solutions should allow it to avoid the full volatility of commodity steel pricing. Importantly, the spinoff structure gives it autonomy to reinvest cash flow in strategic initiatives, namely automation and customized supply chain services. That allows it to inch closer to &#8220;industrial tech&#8221; margins over time.



WS trades around 6x forward EBITDA, with a modest market cap under $1 billion. It carries a solid balance sheet with minimal net debt and generates healthy free cash flow. It offers better margin stability and trades at a discount than larger, less specialized steel companies. If EBITDA can stabilize or grow modestly in an industrial upturn, the upside could be 50–75% over a cycle.



Insiders, including directors and executives, own more than 10% of shares post-spinoff, signaling real alignment. The company&#8217;s leadership, including CEO Geoff Gilmore (former president of Worthington&#8217;s steel business), has a long tenure and deep operational familiarity.



EVI Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVI#NYSE">EVI</a>) is building a national platform for commercial laundry equipment distribution and service. Over the last several years, the company has quietly acquired more than 20 laundry distributors, consolidating a highly fragmented and regionalized industry. It sells washers, dryers, and finishing systems and provides service and parts through its subsidiaries.



EVI is a long-term roll-up story in a sleepy but essential niche. The core investment case centers on scale benefits, operating leverage, and succession-driven acquisitions. Thanks to institutional and multi-family customers, the business is relatively recession-resistant. Its decentralized model allows local operators to retain control while benefiting from shared resources and systems.



EVI trades at around 20x trailing earnings, which may seem rich for a distribution company. But this is a case where GAAP earnings understate the underlying opportunity. Adjusted EBITDA and operating income are growing faster than reported net income due to the dealmaking cadence and acquisition-related costs. The real value here lies in what the company could look like in five years if it doubles revenue again with modest margin improvement.



Chairman Henry Nahmad and his extended network (including insiders and strategic investors) control more than 40% of the shares. That level of ownership is not just rare—it is strategic. It ensures that value creation for minority shareholders is aligned with management&#8217;s own long-term objectives. Nahmad has been disciplined, long-term focused, and extremely reticent about taking on excessive debt.



Hamilton Beach (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBB#NYSE">HBB</a>) is a legacy name in small kitchen appliances, including blenders, toasters, coffeemakers, and more. The company distributes its products through mass-market retailers like Walmart, Target, and Amazon, as well as through commercial channels.



This is a turnaround and cash flow story, not a growth engine. Input costs and consumer shifts have pressured margins, but the company has recently shown signs of recovery. Gross margins improved in 2023 and continued through Q1 2024, thanks to better supply chain execution and SKU rationalization. The brand&#8217;s familiarity and low price points make it resilient in discount-driven environments.



HBB trades at under 7x normalized earnings and around 0.3x sales—a discount to historical averages and peers in branded consumer products. The company has paid a consistent dividend, currently yielding around 3.5%, and has used excess cash for debt reduction. While growth is tepid, the earnings power is intact, and there&#8217;s real optionality if appliance demand stabilizes in late 2025.



The holding structure tells a lot. HBB is still part of the NACCO family, with significant shares held by insiders and affiliates. Current and former executives control over 20% of shares, and the board is tightly aligned with long-term value preservation. This is not a management team likely to chase fads or sacrifice balance sheet strength for short-term growth.



Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.



Photo: Shutterstock

3 Stocks With The 'Insider Advantage'

OpenAI chief executive Sam Altman says that a ChatGPT query consumes roughly 0.34 watt-hours of electricity, which is &#8220;about what an oven would use in a little over one second."



What Happened: Altman, in a blog <a href="https://blog.samaltman.com/the-gentle-singularity">post</a> he published on Tuesday, also mentioned that each ChatGPT query consumes "about 0.000085 gallons of water,&#8221; which is roughly one-fifteenth of a teaspoon.



Altman argues that "the cost of intelligence should eventually converge to near the cost of electricity," positioning the chatbot as comparatively frugal even as environmental watchdogs scrutinize AI's hidden climate bill.



<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">wrote a new post, the gentle singularity. realized it may be the last one like this i write with no AI help at all. (proud to have written &quot;From a relativistic perspective, the singularity happens bit by bit, and the merge happens slowly&quot; the old-fashioned way)&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1932547247243505924?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



OpenAI has not publicly shared details of their methodology, but the disclosure lands as researchers warn that <a href="https://www.benzinga.com/markets/equities/25/06/45816468/ai-data-centers-are-eating-electricity-and-these-3-energy-stocks-could-be-the-biggest-winners-says-analyst">data-center power demand</a> could outstrip Bitcoin Mining by next year. One study from Vrije Universiteit Amsterdam projects AI could soon swallow nearly half the electricity flowing into global server farms.



See also: <a href="https://www.benzinga.com/markets/tech/25/06/45877591/elon-musk-says-he-regrets-war-of-words-with-trump-went-too-far">Elon Musk Says He &#8216;Regrets&#8217; War Of Words With Trump: &#8216;Went Too Far&#8217;</a>



Water use complicates the equation. A Washington Post <a href="https://www.washingtonpost.com/technology/2024/09/18/energy-ai-use-electricity-water-data-centers/">investigation</a> found that drafting a 100-word email with GPT-4 required "a little more than one bottle" of water, with consumption varying widely by data-center location. MIT researchers likewise warned in January that generative models are driving up both energy and water footprints as companies race to scale.



Why It Matters: The Department of Energy projects that U.S. data centers may consume up to 12% of the nation&#8217;s electricity by 2028, a share that could climb as AI adoption accelerates.



Altman's efficiency pitch follows corporate pledges to curb resource demand, yet Yale's Environment 360 notes hyperscale facilities still guzzle <a href="https://www.benzinga.com/news/23/12/36169719/chatgpts-thirst-for-water-ai-techs-environmental-impact-raises-grave-concerns-opportunity-to-invest">millions of gallons</a> annually. Planet Detroit adds that generative systems may use 33 times more energy than conventional software for the same task.



Whether the teaspoon math holds up, Altman insists smarter algorithms and <a href="https://www.benzinga.com/government/24/05/38679550/intels-new-venture-in-japan-pioneering-automation-in-chip-manufacturing-by-2028">automated chip fabrication</a> will keep driving the price and resource cost of "intelligence" lower.



Image via Shutterstock



Read next: <a href="https://www.benzinga.com/markets/ipos/25/06/45877601/anduril-ceo-palmer-luckey-confirms-ipo-plans-to-compete-for-trillion-dollar-defense-contracts-we-are-definitely-going-to-be-a-publicly-traded">Anduril CEO Palmer Luckey Confirms IPO Plans To Compete For Trillion-Dollar Defense Contracts: &#8216;We Are Definitely Going To Be A Publicly Traded&#8230;&#8217;</a>

Every Time You Ask ChatGPT Something, It Uses As Much Electricity As An Oven Does In One Second, Says Sam Altman: The 'Cost Of Intelligence' Will Only Lower

U.S. stock futures were trading lower on Wednesday after a positive close on Tuesday. Futures of major benchmark indices were lower in premarket.



A federal appeals court on Tuesday permitted President Donald Trump&#8216;s extensive<a href="https://www.benzinga.com/news/legal/25/06/45877448/appeals-court-allows-trumps-tariffs-to-remain-in-effect-while-it-reviews-the-lower-courts-decision"> tariffs to continue</a>, pending its review of lower court rulings that had invalidated the duties as unconstitutional. 



The <a href="https://www.benzinga.com/news/macro-notification/25/06/45876366/howard-lutnick-says-us-and-china-reached-a-framework-to-implement-geneva-consensus-following-trump-xi-call-csi-300-index-gains">U.S. and China achieved a trade consensus in London</a> following two days of negotiations. Commerce Secretary Howard Lutnick stated they &#8220;reached a framework&#8221; to enact the Geneva consensus.



The investors will be on the lookout for May&#8217;s inflation print, which will be announced today. The <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45865665/trumps-inflation-honeymoon-may-be-over">median forecast</a> sees headline inflation ticking up from 2.3% to 2.5% in May, while core CPI, which strips out food and energy, is expected to rise from 2.8% to 2.9% year-over-year. 



The 10-year Treasury bond yielded 4.49% and the two-year bond was at 4.02%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 99.9% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.12%</td></tr><tr><td>S&amp;P 500</td><td>-0.12%</td></tr><tr><td>Nasdaq 100</td><td>-0.09%</td></tr><tr><td>Russell 2000</td><td>0.14%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly lower in premarket on Wednesday. The SPY was down 0.11% at $602.39, while the QQQ declined 0.10% to $533.67, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy, healthcare, and consumer discretionary stocks led gains across most S&amp;P 500 sectors on Tuesday, though industrial stocks bucked the trend, closing lower.



This came as U.S. stocks settled higher as investors tracked U.S.-China trade talks in London for progress.



Separately, Casey&#8217;s General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) shares surged about 12% after strong fourth quarter results and a dividend hike. Conversely, Calavo Growers Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGW#NASDAQ">CVGW</a>) shares fell more than 16% on weaker-than-expected second-quarter financials.



Meanwhile, the NFIB Small Business Optimism Index climbed to 98.8 in May, exceeding estimates.



The Dow Jones index ended 105 points or 0.25% higher at 42,866.87, whereas the S&amp;P 500 index rose 0.55% to 6,038.81. Nasdaq Composite advanced 0.63% to 19,714.99, and the small-cap gauge, Russell 2000, gained 0.56% to end at 2,156.41.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.63%</td><td>19,714.99</td></tr><tr><td>S&amp;P 500</td><td>0.55%</td><td>6,038.81</td></tr><tr><td>Dow Jones</td><td>0.25%</td><td>42,866.87</td></tr><tr><td>Russell 2000</td><td>0.56%</td><td>2,156.41</td></tr></tbody></table></figure>



Insights From Analysts:



Highlighting that the S&amp;P 500 index continues to be in a bull market, which began in October 2022, Ryan Detrick from Carson Research said in an X post that the third year of a bull market is mostly &#8220;choppy,&#8221; based on historical data.



Detrick said that, based on his 50-year analysis, five past bull markets persisted for at least this duration, with the shortest of those lasting a full five years.



"The five bulls that made it into year 3 tended to see chop and frustration at some point," he said, adding, "That's the bad news. The good news is once you get past that (and I think we did this time), better times are coming."



<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">Going back 50 years, the five bulls that made it into year 3 tended to see chop and frustration at some point. That&#39;s the bad news. The good news is once you get past that (and I think we did this time) better times are coming. <a href="https://t.co/JNZ8F3eZyK">pic.twitter.com/JNZ8F3eZyK</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1932631907776217135?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Furthermore, he drew attention to the 11-year bull market that ran from March 2009 to February 2020, pointing out its encounter with a near-bear market midway through its third year.



"This current bull market had a near bear market in the middle of year 3," he said, talking about the ongoing bull market which began in October 2022.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The 2009 bull market had a near bear market during the middle of year 3. This current bull market had a near bear market in the middle of year 3. &#x1f440;&#x1f440;&#x1f440;&#x1f440; <a href="https://t.co/5AuoxYDRvt">pic.twitter.com/5AuoxYDRvt</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1932630806855593987?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Louis Navellier of Navellier &amp; Associates explained that June is the time for Russell's annual index realignment. Every Friday in June, Russell announces its proposed Russell 1000 and 2000 index changes, which are fine-tuned each week.



The stocks that are added to both the Russell 1000 and 2000 indices naturally benefit from index accumulation and the institutional managers that like to "track" indices.



&#8220;After Friday, June 27th, the Russell index realignment will be finalized, and many stocks being added to the Russell indices will &#8216;pop&#8217; on Monday, June 30th,&#8221; he said.



Talking about his expectation from the May&#8217;s inflation print, he said, &#8220;It will be interesting if the deflationary forces in the past few months persist, since that would put more pressure on the Fed to cut key interest rates.



&#8220;There are also Treasury bond auctions on Wednesday and Thursday that will be carefully monitored, especially the bid-to-cover ratios and the "tail" on the auctions that could cause bond yields to rise,&#8221; he stated.



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on Wednesday:



<ul class="wp-block-list">
<li>May&#8217;s headline and core consumer price index data will be released by 8:30 a.m. ET.</li>



<li>May&#8217;s monthly U.S. federal budget data will be announced by 2:00 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) fell 0.50% in premarket on Wednesday as analysts expect it to report quarterly earnings of 519 cents per share on revenue of $3.08 billion, before the opening bell.</li>



<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) was 1.13% higher ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 9 cents per share on revenue of $1.35 billion.</li>



<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) was 0.03% below the flatline as analysts expect it to report quarterly earnings of $1.64 per share on revenue of $15.58 billion after the closing bell.</li>



<li>Sailpoint Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIL#NASDAQ">SAIL</a>) was up 1.78% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect a quarterly loss of 1 cent per share on revenue of $225.16 million.</li>



<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) declined 3.68% after reporting first-quarter revenue of $732.4 million, missing analyst estimates of $754.24 million. The company reported first-quarter adjusted earnings of 17 cents per share, beating analyst estimates of four cents per share.</li>



<li>Dave &amp; Buster&#8217;s Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) advanced 3.44% despite downbeat earnings, but it expects total capital expenditures to be less than $220 million in fiscal 2025.</li>



<li>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) rose 0.90% after it announced on Tuesday that it plans to invest $4 billion over the next two years at plants in Michigan, Kansas, and Tennessee.</li>



<li>Catheter Precision Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTAK#NYSE">VTAK</a>) surged 111.74% after securing its first VIVO order from Sweden&#8217;s largest hospital, Sahlgrenska University Hospital, a key teaching institution.</li>



<li>Vaxart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VXRT#NASDAQ">VXRT</a>) zoomed 61.26% after it said that it will reveal the first-ever oral norovirus vaccine trial results on Wednesday.</li>



<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) slumped 35.56% after receiving a delisting notice from Nasdaq on June 4.</li>



<li>American Superconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMSC#NASDAQ">AMSC</a>) dropped 13.58% after announcing its intent to offer and sell common stock in an underwritten public offering without revealing the size and terms, which will be subject to market conditions.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.23% to hover around $65.13 per barrel.



Gold Spot US Dollar rose 0.68% to hover around $3,345.05 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.07% at the 99.0270 level.



Asian markets ended higher on Wednesday as China&#8217;s CSI 300, Hong Kong's Hang Seng, Australia's ASX 200, Japan's Nikkei 225, India's S&amp;P BSE Sensex, and South Korea's Kospi indices rose. European markets were mixed in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/06/45876245/jeremy-siegel-backs-ted-cruzs-plan-to-end-fed-interest-payments-on-excess-reserves-potentially-savin">Jeremy Siegel Backs Ted Cruz&#8217;s Plan To End Fed Interest Payments On &#8216;Excess Reserves,&#8217; Potentially Saving $2 Trillion In Deficits: &#8216;Not A Trivial Concern&#8217; </a></li>
</ul>



Photo courtesy: godongphoto / Shutterstock.com

AMSC

CASY

CVGW

PLAY

SAIL

VSCO

VTAK

VXRT

US Stocks Likely To Open Lower Ahead Of May Inflation Report: S&P 500 Still In A 31-Month-Long Bull Market, 'Better Times Are Coming,' Says Expert

The World Bank has significantly reduced&nbsp;its 2025 global growth forecast, pointing to the escalating trade tensions and policy uncertainty, particularly due to the wide-ranging tariffs imposed by U.S. President Donald Trump.



What Happened: The World Bank&#8217;s latest economic prospects report projects a global GDP growth of 2.3%, down from the 2.7% anticipated in January, <a href="https://www.scmp.com/news/world/article/3313910/world-bank-warns-slowest-global-growth-1960s-amid-trump-tariffs-trade-tensions?module=top_story&amp;pgtype=homepage">reported</a>&nbsp;South China Morning Post. According to Indermit Gill, the World Bank Group's chief economist, this marks the weakest performance in 17 years outside of global recessions. 



Fragmented trade relations and elevated policy uncertainty have weakened global growth and inflation outlooks for both this year and the next. &#8220;Without&nbsp;a swift course correction, the&nbsp;harm to living standards could&nbsp;be deep,&#8221; Gill cautioned.



The World Bank projects that by 2027, global GDP growth will average just 2.5% for the 2020s—its slowest pace since the 1960s. This bleak outlook follows Trump's April decision to impose a 10% tariff on imports from nearly all of the U.S.&#8217;s trading partners.



The World Bank suggested that developing countries could boost GDP growth by reducing tariffs for all trade partners and expanding trade deals to cover broader cross-border regulations.



"If the right policy actions are taken, this problem can be made to go away with limited long-term damage,&#8221; stated Gill.



SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45852346/elon-musk-recently-said-yes-to-impeaching-trump-and-the-odds-of-that-happening-in-2025-rose" target="_blank" rel="noreferrer noopener">Elon Musk Recently Said &#8216;Yes&#8217; To Impeaching Trump And The Odds Of That Happening In 2025 Rose On This Crypto Betting Market</a>



Why It Matters:&nbsp;The World Bank&#8217;s revised forecast comes amid ongoing trade tensions and policy uncertainty, which have been exacerbated by the tariffs imposed by the Trump administration. This development could have significant implications for global markets and economies, potentially leading to increased volatility and reduced investor confidence.



Earlier in 2025, Trump&nbsp;<a href="https://www.benzinga.com/markets/25/04/45124644/trump-blames-gdp-contraction-on-biden-overhang-nothing-to-do-with-the-tariffs">deflected blame</a>&nbsp;for the U.S. economy&#8217;s 0.3% contraction in the first quarter onto his predecessor, Joe Biden despite clear evidence indicating otherwise. This contraction was the first for the country in three years.



However, some experts, such as Tom Lee, co-founder and research head at Fundstrat Global Advisors, remain optimistic about the market&#8217;s future despite the recent volatility. Lee&nbsp;<a href="https://www.benzinga.com/25/05/45432465/tom-lee-says-economists-predicting-a-recession-with-certainty-are-dead-wrong-in-my-30-years-ive-never-seen-an-economist">identified key indicators</a>&nbsp;suggesting that the worst market decline may have passed and predicted a significant upside for stocks by 2026. 



Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) and SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 4.7% and 3.15% on a year-to-date basis.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/health-care/25/06/45845078/mercks-cholesterol-lowering-drug-hits-primary-goal-in-two-pivotal-trials" target="_blank" rel="noreferrer noopener">Merck&#8217;s Cholesterol Lowering Drug Hits Primary Goal In Two Pivotal Trials</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.



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World Bank Slashes Global Growth Forecast To Lowest Since 1960s Amid Trump Tariffs: 'If The Right Policy Actions Are Taken...'

On Wednesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk said he regretted some of his posts about Donald Trump.



What Happened: Musk took to his social media platform, X, formerly Twitter, and said, "I regret some of my posts about President Donald Trump last week. They went too far."



<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 regret some of my posts about President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> last week. They went too far.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1932695486684950962?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Tensions between Musk and Trump escalated last week after Musk publicly criticized the president's administration over what he called the "<a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">One Big Beautiful Bill</a>."



In retaliation, Trump threatened to cancel billions of dollars in federal contracts awarded to Musk's companies, including SpaceX and Tesla.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45807465/dan-ives-calls-musk-trump-feud-a-twilight-zone-moment-but-bullish-on-tesla-and-autonomous-future-not-good-for-either-side" target="_blank" rel="noreferrer noopener">Dan Ives Calls Musk-Trump Feud A ‘Twilight Zone Moment' But Bullish On Tesla And Autonomous Future: ‘Not Good For Either Side'</a>



The situation intensified when Musk made a provocative social media post suggesting <a href="https://www.benzinga.com/news/politics/25/06/45828121/elon-musks-bombshell-about-donald-trump-in-epstein-docs-heres-the-truth-behind-the-claim">Trump was linked to the</a> Jeffrey Epstein files. Trump was reportedly angered by the implication, as well as Musk's statement that his 2024 victory was partly due to Musk's support and political donations.



Musk <a href="https://www.benzinga.com/news/politics/25/06/45829511/elon-musk-scrubs-his-social-media-of-trump-related-posts-amid-public-feud">later deleted some of the posts</a>, including the one linking Trump to Epstein, and stated he would "apologize profusely as soon as there is a full dump of the Epstein files."



Earlier, it was also reported that <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump has been calling Musk</a> a "big-time drug addict" in private discussions.



The White House did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



Why It's Important: Last week, Tesla shares plunged 14.3% to $284.70 on Thursday—its second-largest percentage drop in over a year—<a href="https://www.benzinga.com/markets/25/06/45827390/musk-vs-trump-tesla-suffers-record-152b-one-day-crash-as-ceo-warns-tariffs-will-cause-a-recession-up">wiping out $152 billion</a> in market value, the biggest single-day loss in company history.



The sharp decline was a result of the intensifying feud between Musk and Trump.



However, despite these tensions, Dan Ives, managing director at Wedbush Securities, maintained his bullish stance on Tesla.&nbsp;



"I still believe they're allies and it <a href="https://www.benzinga.com/markets/tech/25/06/45827094/dan-ives-weighs-in-on-musk-trump-drama-says-stock-reaction-overblown-i-still-believe-theyre-allies">doesn't change my view</a> that the regulatory road map is going to be more greenlighted for Tesla," he stated then, adding, "I don't think that this is the beginning of a dark storm between Musk and Trump."



Price Action: Tesla shares dipped 0.30% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Benzinga&#8217;s Edge Stock Rankings show an upward trajectory for Tesla across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance metrics are available here</a>.



<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 decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11034537/Screenshot-2025-06-11-at-12.56.48%E2%80%AFPM.png" alt="" class="wp-image-945707"/></a></figure>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image via Shutterstock

Politics

TSLA

Elon Musk Says He 'Regrets' War Of Words With Trump: 'Went Too Far'

Veteran short seller Jim Chanos on Tuesday blasted the financial instruments employed by Michael Saylor&#8217;s company, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), to sustain its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) play.



What happened: In an X post, Chanos argued that Saylor wants investors to value Strategy not only based on the net asset value of its Bitcoin holdings at market prices, i.e., NAV, but also to apply a multiple to the change in that NAV.



"It's like claiming that your house, which increased in market value last year from $450,000 to $500,000, is actually worth $1.5 million, because you also have to put a 20x multiple on the $50,000 increase," Chanos 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">This is of course, complete financial gibberish. Mr. Saylor wants you to value his business based not only on the net value of his Bitcoin holdings (NAV) at market, but additionally with a multiple on the change in that NAV! Because now he can leverage his balance sheet, lol. <a href="https://t.co/DOiEe4aJXn">https://t.co/DOiEe4aJXn</a>&mdash; James Chanos (@RealJimChanos) <a href="https://twitter.com/RealJimChanos/status/1932497480547250574?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The sharp reaction followed Saylor&#8217;s criticism of Chanos&#8217; long Bitcoin, short Strategy position during a Bloomberg interview.



"I don't think he understands what our business model is," Saylor said. "What he still doesn't understand is that we are not a holding company or a closed-end trust, we are an operating company."



Saylor argued that, unlike trusts, Strategy can employ corporate maneuvers, such as selling preferred stock, to neutralize strategies such as those recommended by Chanos.



He said that if the premium to the value of Bitcoin holdings declines significantly, the company will issue preferred stock and buy back the common stock. "And if the stock rallies up, he's going to get liquidated and wiped out."



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>



Chanos deemed these remarks as "complete financial gibberish," noting that Saylor's policies haven't changed Strategy's NAV significantly since the company pivoted to a Bitcoin standard in 2020.



Why It Matters: Chanos revealed an <a href="https://www.benzinga.com/short-sellers/25/05/45483508/jim-chanos-goes-long-bitcoin-short-microstrategy-in-arbitrage-bet-against-retail-speculation">arbitrage opportunity</a> in shorting Strategy&#8217;s stock while buying Bitcoin last month, suggesting that the stock&#8217;s premium over Bitcoin&#8217;s value is not justified.



For context, a NAV premium refers to the difference between Strategy's market capitalization and the value of its Bitcoin holdings. It is seen as a gauge of investor sentiment toward Bitcoin and the company's approach. As of this writing, the <a href="https://www.strategy.com/notes">NAV </a>stood at 1.87.



Strategy has led Bitcoin&#8217;s corporate adoption, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45837005/strategy-buys-another-110-million-in-bitcoin-now-holds-582000-btc">building its reserve</a> with proceeds from common stock, preferred stock, and convertible bond issuances. The firm held a stash worth $63.4 billion as of this writing, <a href="https://bitcointreasuries.net/">according </a>to bitcointreasuries.net.



Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $109,486.50, down 0.10% 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;



Shares of MSTR were up 0.33% in after-hours trading after closing 0.24% lower at $391.18 during Tuesday&#8217;s regular trading session.



MSTR demonstrated a very high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. To find out how MSTR compares against other cryptocurrency-related stocks on different metrics, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.



<figure class="wp-block-image aligncenter size-full is-resized"><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="634" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11032752/image-149.png" alt="" class="wp-image-945689" style="width:615px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11032752/image-149.png 882w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11032752/image-149-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11032752/image-149-768x552.png 768w" sizes="(max-width: 882px) 100vw, 882px" /></a></figure>



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45739199/american-politicians-dont-believe-bitcoin-can-co-exist-peacefully-with-the-dollar-says-this-popular-btc-maximalist-heres-why">American Politicians Don&#8217;t Believe Bitcoin Can &#8216;Co-Exist Peacefully&#8217; With The Dollar, Says This Popular BTC Maximalist: Here&#8217;s Why</a></li>
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Photo courtesy: PJ McDonnell / Shutterstock.com

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