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VEON

VEON Ltd is a United Arab Emirates-based digital operator providing connectivity and Internet services to corporations and individuals. The company offers mobile and fixed-line telecommunications services through a range of traditional and broadband mobile technologies. The company's reportable segments consist of the following five segments: Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. It provides its services under the Beeline, Kyivstar, Banglalink, and Jazz brands. It generates the majority of its revenue from Pakistan.

VEON Ltd

Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) affirms FY2025 Adj EPS guidance from $8.70-$9.30 to $8.70-$9.30 vs $9.24 analyst estimate..

News

Guidance

BURL

Burlington Stores Affirms FY2025 Adj EPS Guidance of $8.70-$9.30 vs $9.24 Est

Earnings

Build-A-Bear Workshop Q1 2025 EPS $1.17 Beats $0.87 Estimate, Sales $128.40M Beat $118.90M Estimate

Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) is looking for Q2 Adj EPS of $1.20-$1.30 vs $1.34 analyst estimate..

Burlington Stores Sees Q2 Adj EPS $1.20-$1.30 vs $1.34 Est

Caleres (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAL#NYSE">CAL</a>) reported quarterly earnings of $0.22 per share which missed the analyst consensus estimate of $0.36 by 38.89 percent. This is a 75 percent decrease over earnings of $0.88 per share from the same period last year. The company reported quarterly sales of $614.22 million which missed the analyst consensus estimate of $622.05 million by 1.26 percent. This is a 6.82 percent decrease over sales of $659.20 million the same period last year.

Earnings Misses

Caleres Q1 Adj. EPS $0.22 Misses $0.36 Estimate, Sales $614.22M Miss $622.05M Estimate

Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) reported quarterly earnings of $1.60 per share which beat the analyst consensus estimate of $1.41 by 13.48 percent. This is a 18.52 percent increase over earnings of $1.35 per share from the same period last year. The company reported quarterly sales of $2.50 billion which missed the analyst consensus estimate of $2.52 billion by 0.72 percent. This is a 6.01 percent increase over sales of $2.36 billion the same period last year.

Earnings Beats

Burlington Stores Q1 Adj. EPS $1.60 Beats $1.41 Estimate, Sales $2.50B Miss $2.52B Estimate

BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) on Thursday disclosed that BP Trinidad and Tobago (bpTT) confirmed that the Mento development has <a target="_blank" href="https://www.benzinga.com/topic/stories-that-matter?_gl=1&#x2A;8y1xs2&#x2A;_gcl_au&#x2A;Njk4MzA4NTEwLjE3NDgzMjkyNjM.&#x2A;_ga&#x2A;R1MxLjEuR1MxLjEuMTc0NDMwMjEyMi4xLjAuMTc0NDMwMjEyNi4wLjAuMC4xLjAuMTc0NDMwMjE3MS4wLjAuMA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NDg1MDY0NjAkbzExMCRnMSR0MTc0ODUwODMxNiRqNDkkbDAkaDA." rel="noreferrer noopener">successfully begun producing gas</a>.
This milestone was achieved through the secure connection of the initial discovery well. The drilling campaign for the remaining seven gross wells on the platform <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-tt-announces-mento-first-gas.html?utm_source=PC%26C%20%7C%20C%26EA%20%7C%20External%20%7C%20Global%20%7C%20bp.com%20news&amp;utm_medium=email&amp;utm_campaign=15026216_bpTT%20announces%20Mento%20first%20gas&amp;dm_i=1PGC,8Y2AW,5D8AP6,11BHYO,1" target="_blank" rel="noreferrer noopener">is</a> now set to commence.
The Mento development is a 50/50 joint venture, with EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) serving as the operator alongside bpTT.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/05/45664619/shell-boosts-nigerian-deepwater-assets-with-totalenergies-stake-purchase" rel="noreferrer noopener">Shell Boosts Nigerian Deepwater Assets With TotalEnergies Stake Purchase</a>
This development features a 12-slot, attended facility situated in acreage jointly licensed by bpTT and EOG, located off Trinidad&#8217;s southeast coast.
Mento is one of bp&#8217;s 10 major projects slated to commence worldwide between 2025 and 2027, as part of bp&#8217;s broader strategy to expand its upstream operations.
Production from Mento is expected to contribute significantly to the 250,000 barrels of oil equivalent per day (boed) combined peak net production anticipated from these 10 projects.
bpTT president David Campbell said, &#8220;For bpTT, this represents our second start up this year and it is tangible proof of the benefits of partnering with others to bring much needed gas into production. The bpTT/EOG partnership is progressing well as we continue to work on our next joint venture project Coconut.&#8221;&nbsp;
Investors can gain exposure to the stock via&nbsp;Precidian ETFs Trust BP plc ADRhedged&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/BPH#BATS">BPH</a>) and&nbsp;Texas Capital Texas Oil Index ETF &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>).
Price Action: BP shares are trading higher by 0.73% to $29.15 premarket at last check Thursday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com//node/45066828" target="_blank" rel="noreferrer noopener">BP Asset Sales In Egypt, Trinidad Weigh On Q1 Production As Profit Falls</a></li>
</ul>
Photo by Tada Images via Shutterstock

Equities

Large Cap

Movers

OILT

BP Announces First Gas At Mento Off Trinidad's Southeast Coast

Future Fund's Managing Director, Gary Black, says the investment firm sold off the remainder of its Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stocks.
What Happened: "We believe TSLA's valuation has become disconnected from underlying fundamentals," Black said in a post on social media platform X on Wednesday. This is the first time since 2021 that the firm does not hold any Tesla stock.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Getting asked by a few followers today. Posted on Subscribers early this morning. Yesterday, we sold the remainder of our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> position at $358/share. This is the first time since 2021 we have not owned TSLA. As in late-November, which is the last time we reduced our TSLA… <a href="https://t.co/hGvtja4RTR">pic.twitter.com/hGvtja4RTR</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1927776666308296955?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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Black highlighted how the company's stock is overvalued, selling at a price-to-earnings ratio of 188% despite a -40% YTD decline in earnings estimates. He also highlighted how the firm estimates Tesla deliveries to decline by -12% YoY, rather than market estimates of -7%.
"We believe the risk/reward associated with the Austin robotaxi test remain asymmetrical to the downside," Black said, reiterating his earlier comments about the Robotaxi launch.
The investor also shared his concerns that the upcoming affordable model in Tesla's lineup would be a "stripped down Model Y" rather than a new form factor that could expand the automaker's total addressable market.
"This increases odds that FY'25 estimates decline further, risking a repeat of 2023-2024, when TSLA reduced EV prices supported by lower costs, and TSLA saw little or no incremental volume growth," Black said.
He then reiterated the $310 price target for Tesla stock based on his estimates of Tesla's 2030 volumes as well as $12 adjusted earnings per share for the company, before highlighting that the stock could reach a $600 value in 2030 with 25% growth in EPS between 2030-2040.
Why It Matters: Black's decision to sell his Tesla stock follows ARK Investment's Cathie Wood selling off over <a href="https://www.benzinga.com/25/05/45660989/cathie-wood-ditches-5-6m-more-tesla-while-elon-musk-quits-government-role-doubles-down-on-ai-stock-under-attack-b">$5.6 million in Tesla shares</a>. Wood had also dropped well over $9 million worth of the EV giant's stock despite CEO Elon Musk's commitment to the brand.
Wood isn't the only one who has recently dumped Tesla stock, as company insiders, including Musk's brother Kimbal Musk, who is a member of the Tesla board of directors, also sold off more than <a href="https://www.benzinga.com/news/insider-trades/25/05/45651670/tesla-insider-sales-increase-ahead-of-robotaxi-launch-kimbal-musk-ira-ehrenpreis-sell-190m">$31 million in Tesla shares</a>.&nbsp;&nbsp;
Elsewhere, other analysts like Gerber Kawasaki's Ross Gerber are <a href="https://www.benzinga.com/tech/25/05/45663281/despite-bearish-views-ross-gerber-says-tesla-stake-remains-weve-continued-lowering-our-exposure">still holding on</a> to Tesla stocks. "We&#8217;ve continued lowering our exposure to tesla as we have over the last few years," he said before adding, &#8220;We are not exiting the position for many reasons.&#8221;
Despite experts and insiders selling off Tesla shares, the company is getting ready for the launch of its Robotaxi in Austin, for which the EV giant is reportedly targeting a <a href="https://www.benzinga.com/tech/25/05/45662671/tesla-targets-june-12-for-robotaxi-launch-in-austin-elon-musk-says-company-ramped-up-fsd-testing-a-month-ahead-of-schedule">June 12 date</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="191" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2-1024x191.jpg" alt="" class="wp-image-931265" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2-1024x191.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2-300x56.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2-768x143.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2-1536x286.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29062606/TSLA-MAY-29-2025-2.jpg 1650w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Growth, and Quality metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge</a> today!
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/tech/25/05/45663820/tesla-deliveries-drop-87-in-quebec-in-q1-hitting-2-year-low-amid-incentive-cuts-musks-political-ties">Tesla Deliveries Drop 87% In Quebec in Q1, Hitting 2-Year Low Amid Incentive Cuts, Musk&#8217;s Political Ties</a></li>
</ul>
Photo courtesy: Ken Wolter / Shutterstock.com

Tech

TSLA

Gary Black's Future Fund Sells Remaining Tesla Stock, Reitrates $310 Price Target: 'TSLA's Valuation Has Become Disconnected...'

An exchange between President Donald Trump and a reporter at a White House press briefing has gone viral on social media, after the latter confronted him on a Wall Street &#8220;meme&#8221; that is gaining traction, the so-called &#8220;TACO Trade.&#8221;
What Happened: On Wednesday, The Kobeissi Letter posted a video snippet of Trump&#8217;s recent interaction with the White House press, where he was asked about the new term coined by Wall Street, the TACO trade, or the &#8220;Trump Always Chickens Out Trade.&#8221;
The TACO trade is essentially a tongue-in-cheek strategy where investors buy stocks right after Trump makes fresh tariff threats, knowing fully well that he won&#8217;t follow through with them, thus leading the markets to bounce back. 
See Also: <a href="https://www.benzinga.com/politics/25/05/45663944/trump-reacts-to-musks-disappointment-with-big-beautiful-bill-says-we-have-to-get-a-lot-of-votes-to-pass-gop-priorities">Trump Reacts To Musk&#8217;s Disappointment With &#8216;Big, Beautiful Bill&#8217;, Says &#8216;We Have To Get A Lot Of Votes&#8217;</a>
&#8220;You can't make this up: A reporter just asked President Trump about the ‘TACO' (Trump Always Chickens Out) trade,&#8221; the post says, featuring the snippet that shows the entire conversation between Trump and the reporter. 
Trump&#8217;s response was swift, in defense of his past tariff moves, citing the examples involving China and the European Union. He says he brought down tariffs on China from 145%, after asking them to &#8220;open up your whole country.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You can't make this up: A reporter just asked President Trump about the "TACO" (Trump Always Chickens Out) trade. This is based on an increasingly popular Wall Street view of buying stocks after Trump tariff headlines with the assumption that Trump will "chicken out" and stocks… <a href="https://t.co/uC1Mbx4cNe">pic.twitter.com/uC1Mbx4cNe</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1927813256283914428?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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Regarding the EU, Trump says that his decision to slap 50% tariffs on the region led officials to urgently request negotiations. &#8220;They said &#8216;Please, let's meet right now,'&#8221; adding that he set the deadline for talks after confirming their willingness. Trump then asks, &#8220;You call that chickening?&#8221;
Why It Matters: Several other economists and market experts have called out Trump&#8217;s backing off from tall claims and threats in recent weeks.
Economist Nouriel Roubini said last week that <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45367790/dr-doom-nouriel-roubini-says-trump-chickened-out-in-trade-war-with-china-calls-xi-jinping-the-clear-winner-after-tariff-rollback">it was Trump</a> who &#8220;chickened out&#8221; in the trade war with China, while calling Xi Jinping the &#8220;clear winner&#8221; on the tariff rollback.
Roubini had also mentioned over a month ago that the entire situation surrounding Trump&#8217;s tariffs was like a &#8220;three-way game of chicken&#8221; between Trump, Xi Jinping, and Fed Chair Jerome Powell. He went on to predict that it will be <a href="https://www.benzinga.com/markets/25/04/44754363/dr-doom-transforms-to-dr-boom-nouriel-roubini-says-mickey-mouse-could-be-us-president-and-economy-will-keep-growing">Trump who blinks first</a>.
In recent months, dip buying by retail investors has hit whole new levels, with $15 billion making its way into the markets every day, according to Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>).
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">FROM MORGAN STANLEY: &quot;Our research indicates $15B of fresh demand coming into the stock market daily: $5B from retail, $5B from CTAs, $5B from corporates. Every dip is being bought.&quot; <a href="https://t.co/ajdE5ymR4O">pic.twitter.com/ajdE5ymR4O</a>
&mdash; amit (@amitisinvesting) <a href="https://twitter.com/amitisinvesting/status/1927445433510490160?ref_src=twsrc%5Etfw">May 27, 2025</a></blockquote>
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This can be attributed to the very same phenomenon, retail investors expect Trump to either backtrack on his statements, or ease back on the timelines. 
Last week, the co-founder of Fundstrat Global Advisors, Tom Lee, made a statement saying &#8220;Congrats to those ‘buying the dip,'&#8221; signaling <a href="https://benzinga.com/markets/equities/25/05/45511356/tom-lee-cheers-on-buy-the-dip-crowd-as-retail-investors-pour-4-1-billion-into-stocks-tesla-palantir-lead-inflows">his approval</a> of the strategy. 
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45664337/china-tells-us-to-entirely-revoke-wrongful-unilateral-tariffs-after-court-blocks-trumps-liberation-day-levies">China Tells US To &#8216;Entirely&#8217; Revoke &#8216;Wrongful Unilateral&#8217; Tariffs After Court Blocks Trump&#8217;s &#8216;Liberation Day&#8217; Levies</a></li>
</ul>
Photo courtesy: Joey Sussman / Shutterstock.com

Politics

Trump Responds To 'TACO' Meme During A White House Press Briefing: 'You Call That Chickening?'

On Wednesday, May 28, U.S. markets closed lower as investors digested cautious Federal Reserve signals and weakness in chip-related stocks. Nvidia shares jumped in after-hours trading following strong earnings, though its future revenue outlook was disappointing. Cadence and Synopsys plunged after reports of a renewed U.S. ban on semiconductor design software sales to China. Fed officials warned of difficult economic tradeoffs ahead.
In economic data, the U.S. Fifth District composite manufacturing index climbed to -9 in May, up from -13 in April.
All S&amp;P 500 sectors ended in the red Wednesday, with utilities, materials, and energy stocks posting the steepest declines.
The Dow closed lower by 0.58% at 42,098.70, the S&amp;P 500 declined 0.56% to 5,888.55, and the Nasdaq slid 0.51% to 19,100.94.
Related: <a target="_blank" href="https://www.benzinga.com/news/25/05/45660322/trump-tariffs-struck-down-by-federal-court-major-blow-to-white-houses-trade-strategy-report" rel="noreferrer noopener">Trump Tariffs Struck Down By Federal Court — Appeal Filed By Administration: Report</a>
Asia Markets Today
<ul class="wp-block-list">
<li>On Thursday, Japan's Nikkei 225 closed 1.88% higher at 38,432.00, led by gains in the Real Estate, Banking, and Textile sectors.</li>
<li>Australia's S&amp;P/ASX 200 rose 0.15%, ending the session at 8,409.80, led by gains in the Energy, IT, and Telecom Services sectors.</li>
<li>India's Nifty 50 was up 0.27% at 24,819.20, and Nifty 500 rose 0.31% to 22,848.95.</li>
<li>China's Shanghai Composite was up 0.70% at 3,363.45, and Shanghai Shenzhen CSI 300 gained 0.59% to 3,858.70.</li>
<li>Hong Kong's Hang Seng closed the session 1.35% higher to 23,573.38.</li>
</ul>
Eurozone at 05:45 AM ET
<ul class="wp-block-list">
<li>The European STOXX 50 index was up 0.75%.</li>
<li>Germany's DAX index gained 0.39%.</li>
<li>France's CAC 40 rose 0.73%.</li>
<li>U.K.'s FTSE 100 index traded higher by 0.01%.</li>
<li>European shares rose as a U.S. court blocked Trump's tariffs, lifting sentiment. Gains were led by tech, luxury, and materials stocks, while trade uncertainty limited broader advances.</li>
</ul>
Commodities at 05:45 AM ET
<ul class="wp-block-list">
<li>Crude Oil WTI was trading higher by 1.42% at $62.74/bbl, and Brent was up 1.32% at $65.15/bbl.</li>
<li>Oil prices rose about $1 a barrel Thursday after a U.S. court blocked most of Trump's tariff, easing economic concerns.</li>
<li>Natural gas slipped 0.20% to $3.550.</li>
<li>Gold traded lower by 0.49% to $3,305.91, Silver rose 0.79% to $33.423, and Copper was up 0.74% to $4.7090.</li>
</ul>
U.S. Futures at 05:45 AM ET
Dow Jones futures rose 0.96%, the S&amp;P 500 gained 1.47%, and the Nasdaq 100 was up 1.93%.
Forex at 05:45 AM ET
The U.S. dollar index gained 0.04% to 99.94, the USD/JPY rose 0.22% to 145.13, and the USD/AUD slid 0.30% to 1.5514.
Photo via Shutterstock

Asia

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia And Europe Markets Gain, Trump's Tariff Rejection By Court Fuels Commodity Rally - Global Markets Today While US Slept

Needham analyst Mike Cikos reiterates C3.ai (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) from Hold to Hold.

Reiteration

Analyst Ratings

Needham Reiterates Hold on C3.aito Hold

Sen. Elizabeth Warren (D-Mass) has reportedly urged the U.S. Department of Defense (DoD) to ensure competitive AI contracting, particularly in light of Elon Musk&#8216;s AI chatbot, Grok, gaining traction within the federal government.
What Happened: Warren&nbsp;penned a&nbsp;letter to Secretary of Defense&nbsp;Pete Hegseth&nbsp;on Wednesday. The letter, seen by Reuters, emphasized the need for competitive AI contracting to prevent monopolization, which could lead to increased costs, concentrated risks and stifled innovation.
Warren&#8217;s letter, which did not specifically mention Grok, requested that the Pentagon address its AI acquisition practices, strategies to avoid being tied to a single contractor and its data collection safeguards. The Senator&#8217;s office set a deadline of June 11 for the Pentagon to respond.
"How does DoD plan to ensure government data is not used to illegally train commercially available AI algorithms?" wrote Warren.
Warren&#8217;s push for competitive AI contracting follows a previous report by the publication revealing that Musk&#8217;s DOGE team is expanding Grok&#8217;s use for data analysis — a move that could violate conflict-of-interest laws and put sensitive information on millions of Americans at risk.
Despite the recent guidance from the White House&#8217;s&nbsp;Office of Management and Budget&nbsp;to promote a competitive American AI marketplace, national security and defense systems are exempt. Warren and Republican Senator&nbsp;Eric Schmitt&nbsp;have&nbsp;reintroduced a bill with provisions to&nbsp;boost AI competition in the&nbsp;Defense Department.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/25/05/45663141/trump-administration-axes-400-million-in-state-unemployment-system-upgrades-calls-it-wasteful-report" target="_blank" rel="noreferrer noopener">Trump Administration Axes $400 Million In State Unemployment System Upgrades, Calls It &#8216;Wasteful&#8217;: Report</a>
Why It Matters:&nbsp;Musk&#8217;s AI chatbot, Grok, has been a <a href="https://www.benzinga.com/25/05/45599514/elon-musks-grok-ai-is-quietly-being-deployed-across-us-government-agencies-experts-warn-it-could-breach-privacy-laws-and-create-serious-conflicts-of-interest-report">subject </a>of controversy lately. It was reported that the AI tool, developed by Musk&#8217;s company xAI, is being quietly used within U.S. government agencies, including the Department of Homeland Security (DHS), despite lacking formal approval for such use. This has raised concerns about potential breaches of privacy laws and conflicts of interest.
Additionally, Rep. Marjorie Taylor Greene (R-Ga.) has criticized Grok, accusing it of spreading &#8220;fake news and propaganda.&#8221;
Warren&#8217;s call for competitive AI contracting at the Pentagon is a significant development in light of these controversies surrounding Musk&#8217;s AI technology. It reflects growing concerns about the potential risks and ethical implications of AI use in government agencies.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/05/45661076/peter-schiff-challenges-jd-vances-bitcoins-safe-haven-assertion-urges-him-to-implement-policies-that-reduce-the-n" target="_blank" rel="noreferrer noopener">JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: &#8216;What Has Happened Is A Massive Transfer Of &#8230;&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elizabeth Warren Demands Competitive AI Contracting At Pentagon Amid Silent Expansion Of Elon Musk's Grok: 'How Does DoD Plan To Ensure...'

Needham analyst Mike Cikos reiterates Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) with a Buy and maintains $92 price target.

Price Target

NTNX

Needham Reiterates Buy on Nutanix, Maintains $92 Price Target

AMWD

American Woodmark FY26 Outlook: Sees Low Single-digit Decline To Low-single Digit Increase In Net Sales YoY, Adjusted EBITDA Of $175M-$200M

<a href="https://www.globenewswire.com/Tracker?data=xhw6rhowU358A8ZxfVUliAx8YiMuTRMBZUSW5GqFVZJw4l6BFIGyHBQg3PuKCyzZhTbMlfPcONmxoSnP4QWDShokprdfE_kACn1fxxjYpGx_kyxYXQTFosFhzEXL76S4s6DHZh9u8zcwQ9aDz-6FS8yibpNdsBCXa0GDwzU5e8qHQ6MGGO57jeEFrQnnnHJz-krSclkrcksGZ5KrxQGw7GMhhBlbgOjSOf2j8bG33TFzPRoN1Ogn-6Znn0XR6gpP0RVJU01LLIHaZ5JnEp7ZRg==">Zeo Energy Corp</a>. (NASDAQ:<a href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) ("Zeo Energy," or "Zeo"), a leading Florida-based provider of residential solar and energy efficiency solutions, and <a href="https://www.globenewswire.com/Tracker?data=ZzJsH3PtzjqmJDRcn7y9lgMIrMMzv8th2v_oSN09615JTIMt52xeQg8rEpG-YZoghz-2Ot9JCreB5I1D2xo-5mRCDllFdeeQWl1GE0wyFOA=">Heliogen, Inc.</a> (OTCQX:<a href="https://www.benzinga.com/stock/HLGN#OTCQX">HLGN</a>) ("Heliogen"), a provider of on-demand clean energy technology solutions, today announced they have entered into a definitive agreement and plan of merger and reorganization (the "Merger Agreement") pursuant to which Zeo will acquire all of Heliogen's outstanding equity securities in an all-stock transaction. The transaction is currently expected to close in the third quarter of 2025, subject to customary closing conditions.
Following the closing of the transaction, Zeo plans to leverage Heliogen's solutions, brand, intellectual property, capital, and technical talent to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers. The transaction is expected to create a robust clean energy platform spanning residential, commercial, and utility-scale markets, supported by internal financing capabilities and domain expertise.
Management Commentary
"Heliogen brings a set of practical solutions to customers, particularly data centers, looking for longer duration energy storage with substantially lower costs than alternatives on the market," said Tim Bridgewater, CEO of Zeo Energy. "Through this acquisition, we believe that Zeo will be able to accelerate our vision of serving energy consumers across the spectrum – from residential rooftops to larger-scale industrial solar and storage applications to build an energy platform at scale."
"We believe this combination offers a compelling opportunity for Heliogen stockholders through the opportunity to participate in the substantial growth potential of the combined company," added Christiana Obiaya, CEO of Heliogen. "We believe that Zeo's proven track record and network of customers can enhance the value creation opportunities for Heliogen's solutions and technical capabilities, while enhancing liquidity for stockholders. We're proud to be joining forces to scale practical, dispatchable clean energy solutions. This transaction is the result of the Heliogen Board's comprehensive review of strategic alternatives. Our Board is unanimous in its belief that this transaction is the optimal path forward and in the best interest of our stockholders."
Strategic Rationale
<ul>
<li>Expanded Market Reach: The transaction unites Zeo's existing residential solar and storage footprint with Heliogen's long-duration energy storage expertise. Heliogen's commercial and utility-scale thermal storage solutions address mission-critical power quality and energy capacity issues faced by AI and cloud computing data centers, while concurrently aiding grid stability. &nbsp;</li>
<li>Operational Synergies: The transaction is expected to streamline costs and reduce corporate overhead, while retaining core technical and commercial talent. &nbsp;</li>
<li>Strengthened Balance Sheet: At close, Zeo anticipates benefiting from Heliogen's incremental liquidity, supporting investments for future growth in the solar and energy storage space. &nbsp;</li>
<li>Enhanced Financing Capabilities: Zeo's affiliated financing arm, which has provided over $44 million in clean energy tax equity financing to date, has the ability to be used for future Heliogen utility-scale and long-duration energy storage projects. &nbsp;</li>
<li>Accelerated Growth Opportunities: The transaction seeks to position Zeo to capitalize on increasing demand for resilient, cost-effective, low-carbon energy infrastructure, supported by favorable long-term tailwinds and potential tax equity investments. &nbsp;</li>
</ul>
Transaction Details and Closing Timeline
Under the terms of the Merger Agreement, upon the closing of the transaction, Heliogen's securityholders will receive shares of Zeo's Class A common stock valued at approximately $10 million in the aggregate, based on a Zeo Class A common stock price of $1.5859 per share, and subject to an adjustment mechanism based on Heliogen's net cash at the closing.
The proposed transaction has been unanimously approved by the Board of Directors of both companies and is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by Heliogen's stockholders, as well as Heliogen having a specified minimum amount of net cash at the closing. Certain Heliogen stockholders holding approximately 23% of Heliogen's outstanding shares of common stock have entered into voting agreements, pursuant to which they have agreed, among other things, to vote all of such shares in favor of the proposed transaction. The proposed transaction will not require the approval of Zeo's stockholders under Nasdaq rules.

Zeo Energy to Acquire Heliogen in All-Stock Deal Valued at $10M

Needham analyst Mike Cikos reiterates Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) with a Buy and maintains $75 price target.

PSTG

Needham Reiterates Buy on Pure Storage, Maintains $75 Price Target

Matador Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) ("Matador") and its midstream affiliate, San Mateo Midstream, LLC ("San Mateo") today announced the successful start up of San Mateo's Marlan cryogenic natural gas processing plant (the "Marlan Plant") expansion in Eddy County, New Mexico. In addition, Matador is pleased to announce a recent upgrade by Fitch Ratings, Inc. ("Fitch") to the Company's corporate credit rating to BB and the reaffirmation of the Company's $3.25 billion borrowing base and $2.25 billion elected commitment under its reserves-based revolving credit facility by its 19-member bank group.

MTDR

Matador Resources Announces Start Up Of Its Affiliate San Mateo's Marlan Cryogenic Natural Gas Processing Plant Expansion In Eddy County, New Mexico

<a href="https://www.globenewswire.com/Tracker?data=oIIirWyWNdm_QNR_BHQCYOBtwoCLghjPUaVMlbGj93FCHvID0-qO8DOskfBFqCWbwZfz4cAkvYJBUM3kImSHz6TpGrV3pE0okqHB4beeEUk=">Hyperscale Data, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#NYSE">GPUS</a>), a diversified holding company ("Hyperscale Data" or the "Company"), today announced that its wholly owned subsidiary, Ault Capital Group, Inc. ("ACG") is planning to launch an enterprise-focused XRP lending platform (the "Platform") in the third quarter of 2025. The Platform, which will initially be a beta version, is expected to be ACG's first decentralized finance ("DeFi") application.
The Platform will be exclusively available to public companies listed on the New York Stock Exchange, the NYSE American and all three tiers of the NASDAQ Stock Market. Eligible applicants will be able to apply to borrow up to a fixed amount of XRP (each, a "Loan") on terms and conditions negotiated between the applicant and ACG. Once finalized, the Loan details will be posted on-chain. The Loans are expected to be secured by assets of the applicant and/or convertible into registered shares of common stock of the applicant.
As the Loans are currently anticipated to be repaid in XRP, ACG expects to utilize XRP futures contracts on the Chicago Mercantile Exchange to hedge market exposure, bringing a different approach to risk management and financial sophistication to cryptocurrency-based lending. The Platform will leverage the XRP Ledger to facilitate fast, low cost, and secure lending, backed by ACG's recently announced initiative to acquire up to $10 million of XRP.
ACG is seeking to deliver a secure, compliant and institutional-grade solution for blockchain-based lending. The Platform is part of ACG's broader initiative to tokenize real-world assets, provide alternative financing solutions to listed companies, and facilitate cross-border settlements using blockchain technology. Additional crypto-financial instruments are expected to be announced in the coming months.

GPUS

Hyperscale Data Plans XRP Lending Platform for Public Companies, Eyes Q3 Beta Launch

American Woodmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>) reported quarterly earnings of $1.61 per share which missed the analyst consensus estimate of $1.68 by 4.17 percent. This is a 5.29 percent decrease over earnings of $1.70 per share from the same period last year. The company reported quarterly sales of $400.39 million which missed the analyst consensus estimate of $432.65 million by 7.46 percent. This is a 11.67 percent decrease over sales of $453.28 million the same period last year.

American Woodmark Q4 Adj. EPS $1.61 Misses $1.68 Estimate, Sales $400.39M Miss $432.65M Estimate

Needham analyst Mayank Tandon reiterates Ncino (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) with a Buy and maintains $33 price target.

NCNO

Needham Reiterates Buy on Ncino, Maintains $33 Price Target

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