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TOURMALINE BIO INC

Tourmaline Bio

Tourmaline Bio Inc is a late-stage clinical biotechnology company driven by its mission to develop transformative medicines that dramatically improve the lives of patients with life-altering immune diseases. Its initial product candidate is TOUR006, a fully human monoclonal antibody that selectively binds to interleukin-6 (IL-6), a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders. The anti-IL-6 and anti-IL-6 receptor (IL-6R) antibody class (IL-6 class) has over two decades of clinical and commercial experience treating over a million patients with a variety of autoimmune and inflammatory diseases.

Tourmaline Bio Inc

TOURMALINE OIL CORP by Tourmaline Oil Corp.

Tourmaline Oil Corp

News

Accenture Unveils Reinvention Services Unit, Names Manish Sharma Chief Services Officer In AI-Focused Growth Model Overhaul Effective Sept. 1, 2025

Earnings

Earnings Beats

Accenture Q3 EPS $3.49 Beats $3.31 Estimate, Sales $17.70B Beat $17.30B Estimate

Ryde Group Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/RYDE#AMEX">RYDE</a>), a Singapore-based company that operates as a ride-hailing and carpooling platform, is enhancing its platform in Southeast Asia by <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/ac46020914/tencent-cloud-empowers-ryde-to-elevate-in-app-communication-in-southeast-asia" rel="noreferrer noopener">teaming up with</a> Tencent Cloud, the cloud division of China&#8217;s tech powerhouse Tencent Holding Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>).
This collaboration aims to overhaul in-app communications with real-time, cloud-native solutions tailored for mobile-first users.
The partnership leverages Tencent&#8217;s Real-Time Communication, or TRTCTRTC technology and WeChat Mini Program integration to eliminate the inefficiencies of traditional telecom-based systems that rely on third-party number masking.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/45979328/weride-partners-with-uber-dubais-road-and-transport-authority-for-autonomous-vehicle-pilot" rel="noreferrer noopener">WeRide Partners With Uber, Dubai&#8217;s Road And Transport Authority For Autonomous Vehicle Pilot</a>
Ryde&#8217;s platform will now utilize Tencent Cloud&#8217;s TRTC solution to support voice communication between riders and drivers directly within the app.
The company said in a press release that this move is set to reduce cost, improve scalability, and protect user data privacy. With its ultra-low latency performance and carrier-grade stability, TRTC is already behind platforms like PUBG, QQ, and Weixin.
The expanded features also include advanced analytics, AI-driven fleet intelligence, and dynamic dispatch systems, all backed by Tencent Cloud&#8217;s infrastructure.
Ryde plans to capitalize on these tools to grow beyond ride-hailing into deliveries, digital payments, and sustainability-focused mobility services.
Kenneth Siow, Regional Director at Tencent Cloud, said the tie-up reflects the company&#8217;s intent to build a resilient cloud backbone for next-gen digital services.
Nitin Dolli, CTO of Ryde Group, called the partnership a &#8220;transformative step&#8221; toward becoming a super-app for Southeast Asia.
Beyond the technical integration, the companies are exploring joint ventures in AI analytics and WeChat Mini Program use cases that could support optimized logistics and sustainability insights.
This strategic collaboration comes as Ryde scales up operations across the region, aiming to align with evolving user expectations and tech-driven growth.
On Wednesday, Ryde Group announced a strategic equity stake in an<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/45997572/ryde-group-shares-gain-after-company-deepens-green-strategy-with-stake-in-ev-rental-firm-atoll" rel="noreferrer noopener"> emerging electric vehicle rental startup.</a>
Ryde confirmed it has acquired 40% ownership in&nbsp;Atoll Discovery Pte Ltd, a local EV rental operator with a growing fleet of fully electric vehicles, signaling a significant expansion in Ryde&#8217;s green transportation ambitions.
The move aligns with Ryde&#8217;s broader vision to support Singapore&#8217;s transition toward sustainable transportation.
Price Action: RYDE shares are trading lower by 4.83% to $0.4263 at last check Friday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46019223/elon-musks-x-faces-scrutiny-by-european-watchdogs-after-33-billion-acquisition-by-xai-platform-could-face-fine-ban-in-the-eu" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X Faces Scrutiny By European Watchdogs After $33 Billion Acquisition By xAI — Platform Could Face Fine, Ban In The EU</a></li>
</ul>
Photo by PeopleImages.com Yuri A via Shutterstock

Asia

Equities

Markets

Movers

Tech

General

RYDE

TCEHY

Ryde Partners With Tencent Cloud For Enhanced In-App Interactions

Evolent Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>), a company focused on achieving better health outcomes for people with complex conditions, today announced that based on leading indicators and paid claims data through May, it continues to experience oncology cost trend below expectations coming into 2025. Evolent is reiterating its Q2 2025 Adjusted EBITDA guidance of $33M-$40M and its full year Adjusted EBITDA guidance of $135M-165M.

Guidance

Evolent Health Reiterated Q2 Adj EBITDA Of $33M-$40M And Fiscal Adj EBITDA Of $135M-$165M

ITT To Launch VIDAR Smart Motor At Houston Events; New Tech Cuts Energy Use By 50%, Targets $300B Global Fluid Movement Market

GPUS

Hyperscale Data's Bitnile.com Says It Now Accepts $TRUMP Meme Coin For Social Casino Games, To Add $PEPE In July 2025

Yiren Digital's Hexiang Insurance Launches Aviation Policies For China's Low-Altitude Economy, Partners With PICC And Ping An, Joins JAIA Council

Biotech

Health Care

MDGL

EMA Has Recommended Granting A Conditional Marketing Authorization In The European Union For Madrigal Pharmaceuticals' Rezdiffra (Resmeritom) For Adults With Noncirrhotic Metabolic Dysfunction-Associated Steatohepatitis With Moderate To Advanced Liver Fibrosis, In Conjunction With Diet And Exercise

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

FCEL

GHLD

GLXY

GRRR

SWBI

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

TEVA

EMA's CHMP Recommended Granting Marketing Authorization For Teva's Austedo For The Treatment Of Adults With Moderate-to-severe Tardive Dyskinesia

VTRS

Nintedanib Viatris Received Positive Opinion From EMA's CHMP For The Treatment Of Idiopathic Pulmonary Fibrosis, Other Chronic Fibrosing Interstitial Lung Diseases With A Progressive Phenotype, And Systemic Sclerosis Associated With Interstitial Lung Disease

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

Travel

Amid Iran-Israel Conflict, United, American Airlines Suspend Flights To The Middle East

BRCC

BRC Appoints Matthew Amigh As Chief Financial Officer, Effective July 7

FBRT

Franklin BSP Realty Trust Raises $107M Via Senior Notes For General Corporate Use, Potential NewPoint Acquisition

KBR JV HomeSafe Removed From U.S. TRANSCOM Household Goods Contract; No Impact Expected On 2025 Adjusted EBITDA

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

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

Cryptocurrency

$PAXG

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

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

Pre-Market Outlook

Trading Ideas

APVO

ARQQ

BBGI

BIYA

CAPR

CLRB

CMBM

CMCM

DFLI

GOVX

MESO

NWGL

OSCR

PCSA

PTLE

WHLR

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

A heated debate over the U.S. healthcare system erupted on X, pitting billionaire entrepreneur Mark Cuban against Sen. Elizabeth Warren (D-Mass) over the root causes of soaring drug prices.
What Happened: The clash, unfolding as of Friday, has reignited discussions on Pharmacy Benefit Managers (PBMs) and Big Pharma's tax practices, with the Senate poised to address reform amid rising public scrutiny.
Enter Cuban, the Dallas Mavericks owner and founder of Cost Plus Drugs, who fired back with a pointed correction.
In a post quoting Warren, Cuban argued that PBMs—not Big Pharma—are the true culprits behind inflated drug prices.
&#8220;PBMs corrupt healthcare,&#8221; he wrote, explaining that these intermediaries control formularies and manipulate prices to maximize rebate revenue, with <a href="https://www.benzinga.com/25/05/45487788/trumps-drug-price-order-hits-pbms-hardest-cvs-cigna-unh-in-focus-as-experts-highlight-racket-and-pricing-distortion">three major PBMs</a> negotiating over 90% of rebates for commercial insurance plans. 
Warren, in her post, had blamed pharmaceutical giants like Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) for charging Americans the &#8220;highest drug prices in the world&#8221; while paying &#8220;zero dollars in federal taxes.&#8221;
Citing data from her Senate Finance Committee role, Warren highlighted how these companies, alongside AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), have exploited tax loopholes from the 2017 Tax Cuts and Jobs Act to shield billions in profits.
&#8220;Republicans want to make it worse. I&#8217;m fighting back,&#8221; she declared, sharing <a href="https://www.cnbc.com/2025/06/17/pfizer-merck-jj-others-face-scrutiny-over-tax-loophole-extension.html">a</a> CNBC headline and urging action against what she calls a &#8220;rigged tax system.&#8221; 
<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">No. It&#39;s because PBMs corrupt healthcare. Big Pharma wishes they could set their own pricing. They don&#39;t. PBMs control formularies and manipulate prices, in exchange for providing pharma access to patients. It&#39;s how they maximize rebate revenue. In fact, 3 PBMs NEGOTIATE… <a href="https://t.co/GpN4mnzvOM">https://t.co/GpN4mnzvOM</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1935705831930298562?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46013679/dan-ives-says-market-is-massively-underestimating-this-ai-play-urges-investors-to-look-beyong-mag-7">Dan Ives Says Market Is ‘Massively Underestimating' This AI Play, Urges Investors To Look Beyond Mag 7</a>
Why It Matters: Cuban has been a c<a href="https://www.benzinga.com/personal-finance/25/04/44674382/mark-cuban-says-big-insurance-companies-and-pbms-control-healthcare-costs-everyone-has-to-kiss-their-a-and-accept-the-complications">ritic of the healthcare system</a>, saying that it should be simple. According to him, it&#8217;s become overly complicated by big insurance companies and PBMs.
These groups, he says, act as middlemen, controlling not just the costs but also the accessibility of care.
He blames PBMs for lack of transparency, inflated specialty drug prices, rebate distortion, formulary restrictions, and &#8220;Sh–ing on&#8221; on independent pharmacies.
Some significant firms engaged in the PBM business listed in the U.S. include;
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>)</td>
<td>51.15%</td>
<td>9.57%</td>
</tr>
<tr>
<td>Cigna Group. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</td>
<td>14.54%</td>
<td>-6.95%</td>
</tr>
<tr>
<td>UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td>
<td>-39.11%</td>
<td>-36.60%</td>
</tr>
</tbody>
</table>
</figure>
Meanwhile, here is how some pharmaceutical sector ETFs have performed;
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>1.69%</td>
<td>-4.48%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-0.49%</td>
<td>-1.85%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-3.23%</td>
<td>-1.64%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-4.06%</td>
<td>2.61%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>20.55%</td>
<td>22.94%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-5.44%</td>
<td>-6.27%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-23.49%</td>
<td>-14.63%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were mixed in premarket on Friday. The SPY was down 0.30% at $595.67, while the QQQ was 0.015% higher at $529.07, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/06/46016347/this-stock-just-popped-30-in-5-days-now-expert-says-it-looks-potentially-explosive">This Stock Just Popped 30% In 5 Days — Now Expert Says It ‘Looks Potentially Explosive'</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Insurance

ABBV

AMGN

FTXH

iShares Dow Jones US Pharmaceuticals Index Fund

KURE

PILL

Merrill Lynch Pharmaceutical HOLDRs Trust

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

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

Price Target

Reiteration

Analyst Ratings

ALIT

Needham Reiterates Buy on Alight, Maintains $8 Price Target

MNSO

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

Press Releases

Tourmaline Bio Reports Third Quarter 2024 Financial Results and Recent Business Highlights

Tourmaline Bio to Host Investor Day on Tuesday, December 10, 2024

Tourmaline Bio Highlights Cardiovascular Inflammation Focus and Announces Key Clinical and Strategic Updates at Investor Day

Management

Tourmaline Strengthens Cardiovascular Scientific Advisory Board with Appointment of Dr. Paul M. Ridker

Tourmaline Bio to Present at the Guggenheim Securities SMID Cap Biotech Conference

Tourmaline Bio to Present at the Leerink Partners Global Healthcare Conference 2025

Tourmaline Bio Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Business Highlights

Tourmaline Bio Reports First Quarter 2025 Financial Results and Recent Business Highlights

Tourmaline Bio to Present Topline Results from the Ongoing Phase 2 TRANQUILITY Trial of Pacibekitug on May 20, 2025

Tourmaline Bio Announces Positive Topline Results from the Ongoing Phase 2 TRANQUILITY Trial Evaluating Pacibekitug in Patients with Elevated High-Sensitivity C-reactive Protein and Chronic Kidney Disease

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