Editor's Note: This article was corrected to reflect that Tesla ended the quarter with $951 million in digital assets.



Electric vehicle giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported first-quarter financial results after <a href="https://www.benzinga.com/earnings">market close Tuesday.</a>



Here are the key highlights and what's next.



What Happened: Tesla reported first-quarter revenue of $19.34 billion, down 9% year-over-year. The revenue total missed a Street consensus estimate of $21.35 billion according to data<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0422"> from Benzinga Pro.</a>



Automotive revenue was $13.97 billion in the first quarter, down 20% year-over-year.



The company said the lower revenue was attributed to a decline in deliveries, the Model Y update at plants and a lower average selling price for vehicles.



Tesla's first-quarter earnings were 27 cents per share, down 40% year-over-year and missing a Street consensus estimate of 31 cents per share.



The company had 10.4 GWh of storage deployed in the first quarter, up 154% year-over-year.



Tesla ended the first quarter with 7,131 Supercharger locations, up 14% year-over-year.



In the first quarter, Tesla delivered 336,681 vehicles, down from 386,810 in the same quarter last year. Analysts were expecting 377,592 deliveries&nbsp;<a href="https://www.benzinga.com/trading-ideas/previews/25/04/44593138/tesla-q1-deliveries-preview-analysts-forecast-377k-but-kalshi-traders-predict-a-miss" target="_blank" rel="noreferrer noopener">for the quarter.</a>



Of the delivery total, Tesla reported 323,800 Model 3 and Model Y vehicles, along with 12,881 other vehicles, which include the Cybertruck.



Tesla produced 362,615 vehicles in the quarter, down from 433,371 vehicles in last year&#8217;s first quarter.



Tesla ended the quarter with $951 million in digital assets, which includes the company&#8217;s Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings. The company previously disclosed $184 million in digital assets in recent quarters. Tesla recognized a mark-to-market gain of $600 million on digital assets previously in <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal">the fourth quarter.</a>



Read Also: <a href="https://www.benzinga.com/25/04/44845458/tesla-top-10-shareholder-questions-investors-want-answers-on-fsd-cybercab-tariffs-brand-damage-and-more">Tesla Shareholders Demand Answers On Self-Driving, Cybercab, Tariffs, Brand Damage And More: Their Top 10 Questions Ranked</a>



What's Next: The company's guidance said it is hard to make predictions on the rate of growth for the year and it will depend on a "variety of factors" including autonomy efforts, factory production ramp and the macroeconomic environment.



"It is difficult to measure the impacts of shifting global trade policy on the automotive and energy supply chains, our cost structure and demand for durable goods and related services," the company said.



Tesla said its 2025 guidance will be revisited in the second quarter update. The company has enough liquidity to fund its current product roadmap and long-term capacity expansion plans.



The company said plans for more affordable models remain on track to start production in the first half of 2025. Tesla also said its Robotaxi product, known as the Cybercab will begin volume production starting in 2026.



"While the current tariff landscape will have a relatively larger impact on our Energy business compared to automotive, we are taking actions to stabilize the business in the medium to long-term and focus on maintaining its health."



The company said there is "uncertainty in the automotive and energy markets," along with "changing political sentiment." These items could impact demand and cost structures for the company.



"We remain committed to expanding our business model to include delivering autonomous robots across multiple form factors and use cases – powered by our real-world AI expertise – to our customers and for use in our factories, as we navigate these headwinds."



TSLA Price Action: Tesla stock is up 0.6% to $239.01 in after-hours trading versus a 52-week trading range of $141.11 to $488.54.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44933432/tesla-in-code-red-situation-as-analyst-flags-6-threats-tied-to-musks-government-role">Tesla In &#8216;Code Red Situation&#8217; As Analyst Flags 6 Threats Tied To Musk&#8217;s Government Role</a></li>
</ul>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534; WATCH LIVE: Tesla Q1 2025 Earnings Call &#x7C; $TSLA" width="500" height="281" src="https://www.youtube.com/embed/KTjiTT6J-Bk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Tesla Q1 Misses Estimates As Tariff Pressures Weigh On Outlook, Lower-Cost EVs Still On Track (CORRECTED)

The first big economic pulse check since President Donald Trump's tariff announcement arrives Wednesday, and Wall <a href="https://www.benzinga.com/news/econ-s">Street is watching closely.</a>



S&amp;P Global will release its flash Purchasing Managers&#8217; Index (PMI) surveys for April, covering the United States, the United Kingdom, Germany and France. 



These surveys will provide the first broad snapshot of business sentiment since the April 2 tariff announcement.



While the 90-day pause may have delayed the most severe or recession-like signals, investors will be watching closely for early signs of strain — or unexpected resilience — already emerging in the data.



<h3 class="wp-block-heading">US April Flash PMIs: What Economists Expect</h3>



Consensus forecasts suggest a pullback in both U.S. manufacturing and services. According to TradingEconomics, economists expect:



<ul>
<li>Manufacturing PMI to decline from 50.2 in March to 49.4 in April</li>



<li>U.S. Services PMI to fall from 54.4 to 52.8</li>
</ul>



Any reading below 50 signals contraction. These forecasts suggest that America's factory activity could return to negative territory, while services — still growing — are likely to slow down.



"The flash releases of S&amp;P Global's PMIs will offer the first broad-reaching view of business conditions in April. They are expected to show manufacturing in contraction and growth of service-providing businesses slowing," Comerica's chief economist Bill Adams said.



The bank projects an even weaker outlook than consensus, seeing the manufacturing PMI at 49 and services down to 51.5.



Goldman Sachs economist Jan Hatzius said the firm is focused on the new export orders component of the survey. March data showed sharp declines in countries like Canada and Mexico, which were affected by early tariff announcements.



"Historically, each 1-point drop in new export orders has predicted a 0.75 percentage point hit to year-over-year export growth," Hatzius said, adding that while some export strength may reflect frontloading, a reversal is likely once tariffs are implemented.



<h3 class="wp-block-heading">Market Implications: Another Volatility Trigger?</h3>



Investors are poised to interpret the PMI data as a leading indicator of tariff-related disruptions. 



A weaker-than-expected release would likely confirm fears that global supply chains are already feeling the pressure, potentially weighing further on risk assets.



In contrast, stronger-than-expected readings could ease fears of a global downturn, suggesting that businesses are adapting better than feared, at least for now.



Since Trump's April 2 tariff announcement — which he branded as &#8220;Liberation Day&#8221; — the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has dropped 7%, reflecting heightened uncertainty and flight from equities. Meanwhile, gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), has risen 8%, signaling investors' rush toward safety amid the unfolding trade tensions.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44933432/tesla-in-code-red-situation-as-analyst-flags-6-threats-tied-to-musks-government-role">Tesla In &#8216;Code Red Situation&#8217; As Analyst Flags 6 Threats Tied To Musk&#8217;s Government Role</a></li>
</ul>



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Will Tariffs Leave A Mark? Business Activity Data Lands Wednesday In First Read Since Trump's Move

Volatility and <a href="https://www.benzinga.com/topic/tariffs">tariffs</a> are still capturing headlines and sending markets into a tailspin.



For one group of stocks, that&#8217;s been an enormous boon. Last week&#8217;s big bank earnings showed how market volatility led to a surge in stock trading, which massively boosted revenues for some big banks.



Here are four banks set to weather this volatility through strong earnings, healthy dividends and robust fundamentals.



<h2 class="wp-block-heading">JPMorgan Chase and Co.</h2>



The largest bank in the United States, JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), reported earnings on April 11 and posted better-than-expected top and bottom-line results. Revenue came in at $46.01 billion, handily beating the consensus expectation of $44.11. Earnings per share were $5.07, a beat of $0.44 over the consensus estimate of $4.63 per share. Despite CEO Jamie Dimon's <a href="https://www.benzinga.com/news/management/25/04/44717888/jpmorgan-jamie-dimon-warns-recession-now-likely-outcome">warnings</a> about the state of the broader economy, JPMorgan Chase's earnings showcased strength throughout numerous divisions, especially in equities trading. Trading revenue tallied $3.8 billion, up 48% from the previous quarter and exceeding estimates by more than $500 million.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfYHIK2ui6lToVjJ2ZGw9zmAO-SnGCmvgF-4mFR0f9QksGW59JPJK2-6lLihKAQGxDOsP7pgYVVQaDGN7ZIrAUAjUr0ZrwfNGd9sji0HIl2jcbZGu_Or7Uxof8FwkpcGy2_KeicnQ?key=9zg1RvXLtlcToUFhHP-r9JNo" alt=""/></figure>



JPM&#8217;s underlying strength boosts these strong earnings figures. The stock has an 11.27 Price-to-earnings (P/E) ratio, which is cheaper than that of competitors like Wells Fargo and Goldman Sachs despite JPM's higher profit margins. It also pays a 2.44% yield with a 27% dividend payout rate (DPR), and the company has increased its payout annually for 15 consecutive years. One potential area of concern resides at the 200-day moving average, which could become a new resistance level if momentum fades. If the share price can sustainably break through this level, a resumption of the uptrend could follow.



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



Another large bank to post an impressive earnings beat was Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) which reported on April 15 and beat estimates on both earnings and revenue. Like his rival Dimon, Bank of America CEO Brian Moynihan echoed concern about what he's <a href="https://www.benzinga.com/news/management/25/04/44829134/bank-of-america-ceo-says-consumers-are-resilient-while-business-owners-worried-as-we-face-a-changing-economy">hearing from business owners</a>, but also pointed to consumer resilience and growth from their business clients as reasons for strong quarterly earnings. The beat was narrower than JPM, with revenue of $27.51 billion compared to the expected $26.99 billion and earnings of 90 cents per share versus the expected 82 cents. However, the stock rose 4% following the earnings release as revenue was boosted by both equities trading and net interest income (NII). Both the $2.2 billion in trading revenue and the $3.5 billion in fixed income revenue exceeded estimates, offsetting the declines in investment banking fees.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXenISL3NobmQfOlsorQbqcKt4FrCalETBJDrsSooGc7sgzn_R0Yoy6kk1CABCAxXQUrvHXH64IeV7LZXOuey7xZnWnWkhjVvEvJwlr8qz1kXiOkYleu7-bvys0ACwBvHligcY75_w?key=9zg1RvXLtlcToUFhHP-r9JNo" alt=""/></figure>



BAC shares were finally closing in on their 2022 high before tariff uncertainty began spooking markets, and the stock recently made the dreaded ‘death cross' on the daily chart as the 50-day moving average crossed below the 200-day moving average. But there are fundamental reasons to believe the technical signal is a false alarm. Bank of America trades at just 10.2 times forward earnings, making its stock cheaper than most of its large bank competitors, such as JPMorgan Chase, Wells Fargo, and Goldman Sachs. The stock also pays a 2.79% dividend yield with a 31% DPR, and an 11-year history of annual dividend increases. Analysts are also bullish, with a consensus Buy rating and an average price target of $45.52, based on 25 reports compiled by Benzinga.



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



Mega banks weren't the only companies producing strong earnings. Synovus Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) is a smaller regional bank with services primarily located in the southern United States, in states such as Alabama, Georgia and Florida. The bank has a market capitalization of just under $6 billion and generated $2.01 billion in annual sales last year. In its April 17 earnings release for Q1 2025, Synovus Financial posted top and bottom-line beats, including an impressive $1.30 EPS report versus the expected $1.10, a 16% upside surprise. The bank's $571 million in quarterly revenue also beat expectations, boosted by an expansion of net interest margin (NIM) and interest income of $454 million.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeFgoYPNw-Uitdz6wLMeUhXXy3tyvBOhSi84cYZSeOoIxC8BluaGyu7UUVigE287sNjOQglXp84d71vULPFkbaq2yWC9hrevr_-euGYYKM3rAvZlsoA9y8POYpaHOevnqdmnYhShQ?key=9zg1RvXLtlcToUFhHP-r9JNo" alt=""/></figure>



SNV's stock has been on quite the rollercoaster over the last decade. Shares hit an all-time high near $60 in June 2018 before collapsing to under $15 per share during the COVID-19 pandemic. The stock finally rebounded near its all-time high in Q4 2024, before this recent dip. The company's earnings and fundamentals suggest a stock with potential. The stock trades at just 8.7 times forward earnings, which is cheaper than its regional bank peers, such as Citizens Financial Group and Cadence Bank. The company has also grown its revenue by nearly 19% year over year (YoY) and pays a dividend yield of 3.85%. Like BAC, investors must be wary of the ‘Death Cross' formed by the 50-day and 200-day moving averages, but the uplifting earnings report could make this another false signal.



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



Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) is often the whipping boy in the financial services sector, but its recent earnings report revealed nothing worth deriding. The bank reported $21.6 billion in quarterly revenue and $1.96 EPS, both numbers easily surpassing analysts&#8217; estimates. One of the more impressive numbers on the report was the $1.5 billion in equity trading revenue, a 23% increase from the previous quarter. The stock jumped 3% following the April 15 report, which also included full-year guidance estimates of $83.1 to $84.1 billion.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXex45eas7L5SPW_guCNF_5j66f3b4K6Oh9teQkVTqIt95wSa566hommyfbsSDbNbBq1Q_fr5djCLr5lRdpPrHYZ9oxwldRf65bWwqk_15Eh9uu_NgoI79R9nNJapaBFakbqM21eQg?key=9zg1RvXLtlcToUFhHP-r9JNo" alt=""/></figure>



Citigroup is still cheap to own compared to its large-cap peers, despite its earnings success and high 3.54% dividend yield. The stock has a P/E ratio of just 9.81, a Price-to-Book (P/B) value of 0.61, and trades at 8.6 times forward earnings, making it more affordable than JPMorgan Chase, Bank of America and Wells Fargo. The stock recently triggered an oversold signal on the Relative Strength Index (RSI) too, indicating that the underlying uptrend could be close to resuming its march.



<h2 class="wp-block-heading">Rates, Reversals &amp; Volatility: How to Trade This Unpredictable Market</h2>



Conflicting signals. Sector rotation. Rate shocks. Traders are struggling to make sense of it all—but Matt Maley is thriving. Join him Wednesday, April 23 at 6 PM ET to learn the real-time strategies and setups he's using to trade volatility and target major upside—even while markets stay messy. Register <a href="https://events2.benzinga.com/matt-maley-webinar-wed-apr23-2025-registration">HERE</a> before spots fill.



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 or impliedly approved or endorsed by Benzinga.



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Opinion

4 Bank Stocks To Buy As Earnings Soar

Investors are gearing up for Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to release its quarterly results after<a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44930495/wall-street-rebounds-ahead-of-tesla-earnings-dow-adds-1000-points-bitcoin-hits-91000-whats-driving-markets-tuesday"> Tuesday's closing bell.&nbsp;</a>



A Benzinga poll finds that a majority of respondents think that the EV giant will miss consensus estimates for the quarter.&nbsp;&nbsp;



Read Next: <a href="https://www.benzinga.com/25/04/44925313/tesla-q1-earnings-preview-shareholders-analysts-want-answers-on-guidance-tariffs-fsd-and-more">Tesla Q1 Earnings Preview: Shareholders, Analysts Want Answers On Guidance, Tariffs, FSD And More</a>



Estimates: Analysts expect Tesla to report first-quarter revenue of $21.35 billion, up from $21.30 billion in last year&#8217;s first quarter, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0421">from Benzinga Pro.</a>



Analysts expect the company to report first-quarter earnings per share of 41 cents, down from 45 cents in last year&#8217;s first quarter. The company beat earnings per share estimates in the fourth quarter.



Tesla has missed analyst estimates for earnings per share in five of the last six quarters and six of the last 10 quarters overall.



What To Expect: Tesla sales are falling, especially in Europe and CEO Elon Musk&#8217;s focus could be elsewhere, said Jay Woods, Freedom Capital Markets chief global strategist.



&#8220;Tesla remains one of the most volatile and discussed stocks in the world. Elon Musk&#8217;s political bent has made this stock a lightning rod of discussion,&#8221; Woods said in a weekly newsletter.



Wedbush analyst Daniel Ives has argued that Musk should be focusing more time on Tesla and has also questioned how much "brand damage" has been done by the CEO's<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44933432/tesla-in-code-red-situation-as-analyst-flags-6-threats-tied-to-musks-government-role"> political involvement</a>.&nbsp;



Poll Results: Benzinga recently polled <a href="https://www.benzinga.com/premarket-prep">Premarket Playbook</a> viewers to predict Tesla's earnings results.&nbsp;



The poll results were:



<ul>
<li>Miss: 68%</li>



<li>Beat: 19%</li>



<li>Inline: 11%</li>
</ul>



The poll found more than half of respondents expect Tesla to miss analysts' estimates and only 19% see the company beating the consensus expectations. The remaining 11% of respondents said they see Tesla's Q1 results inline with analysts' estimates.&nbsp;



TSLA Price Action: Tesla stock was up 3.65% to $235.73 heading into Tuesday's closing bell, according to data from<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw"> Benzinga Pro.&nbsp;</a>



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/04/44903087/amazon-stock-downgraded-price-target-slashed-as-tariffs-create-uncertainty">Amazon Stock Downgraded, Price Target Slashed As Tariffs Create Uncertainty </a></li>
</ul>



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Will Tesla Beat The Street? 68% Expect Something Markets May Not Be Ready For

Ahead of Tesla Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) first-quarter earnings on Tuesday, a well-known analyst is drawing a hard line in the sand that CEO Elon Musk<a href="https://www.benzinga.com/25/04/44891383/elon-musk-needs-to-leave-the-government-and-get-back-to-being-ceo-of-tesla-says-dan-ives-ahead-of-q1-earnings"> should take a step back</a> from the White House and commit fully to the electric vehicle company.



What Happened: Wedbush analyst Dan Ives may be known as one of the biggest bulls when it comes to analysts covering Tesla stock. Like other analysts, Ives has lowered his price target on Tesla stock ahead of <a href="https://www.benzinga.com/25/04/44925313/tesla-q1-earnings-preview-shareholders-analysts-want-answers-on-guidance-tariffs-fsd-and-more">Tuesday's earnings report.</a>



Ives maintained an Outperform rating while lowering the price target from $550 to $315 recently.



One of the items keeping Ives less bullish than normal is CEO Musk being less present at the electric vehicle company and more involved with the Donald Trump White House administration.



"Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view," Ives recently tweeted.



The analyst said Tesla is at a crossroads and this could be a "code red situation" as first-quarter earnings are important and represent a look at the future of the company.



Ives outlined six major concerns about Tesla amid Musk's new White House role at the Department of Government Efficiency, as shared by <a href="https://www.teslarati.com/tesla-sits-crossroads-wedbush-says-by-listing-six-negatives">Teslarati</a>.



<ol>
<li>Tesla has now unfortunately become a political symbol globally of the Trump administration/DOGE</li>



<li>Tesla's stock has been crushed since Trump stepped back into the White House</li>



<li>Brand damage to Musk/Tesla resulted in a terrible 1Q delivery number, with much lower 2025 deliveries on the horizon</li>



<li>Protests and violence against Tesla dealerships/owners have erupted around the globe</li>



<li>25% auto tariffs have been enacted, delaying future lower-cost models for Tesla, even though Musk is vocally against the tariffs for obvious reasons</li>



<li>Potentially 15%-20% permanent demand destruction for future Tesla buyers due to the brand damage Musk has created with DOGE</li>
</ol>



The analyst said Musk and Tesla have now become synonymous with the Trump administration.



Read Also:<a href="https://www.benzinga.com/tech/25/04/44831960/dan-ives-says-tesla-best-positioned-to-deal-with-tariffs-it-will-ultimately-be-finished-cars-vs-auto-parts"> Dan Ives Says Tesla &#8216;Best Positioned&#8217; To Deal With Tariffs: &#8216;It Will Ultimately Be Finished Cars Vs Auto Parts&#8217;</a>



Why It's Important: The comments from Ives come as Tesla shareholders seek answers on tariffs, new vehicle models, and FSD, along with commentary on Musk's role within the company.



Despite the criticism of Musk's White House role, Ives remains bullish on the electric vehicle company.



"We believe Tesla along with Nvidia are two of the most disruptive technology companies on the globe over the coming years. The unparalleled innovation, engineering scale, autonomous roadmap, and robotics future will unleash massive valuation upside over the coming years in our view," Ives said.



The analyst said the timing and rollout plans for unsupervised Full Self-Driving and the details of more affordable vehicles need to be laid out by Musk.



Ives said after speaking to car buyers around the globe, the brand damage to Tesla is real.



"Tesla is Musk and Musk is Tesla."



An announcement by Musk about his time coming to an end or being minimized with DOGE could go a long way to restoring confidence in the future of Tesla and the share price on Tuesday.



"Tesla will have its most important asset and strategic thinker back as full-time CEO to drive the vision and the long-term story will not be altered," Ives said, as reported by <a href="https://www.newsweek.com/elon-musk-tesla-earnings-doge-2062458">Newsweek</a>. "If Musk chooses to stay with the Trump White House, it could change the future of Tesla."



Ives <a href="https://x.com/DivesTech/status/1914681933952319831">tweeted </a>on Tuesday that the first-quarter earnings and conference call could be one of the biggest in company history.



 TSLA Price Action: Tesla stock is up 4.3% to $237.31 on Tuesday versus a 52-week trading range of $141.11 to $488.54. Tesla stock is down 37.3% year-to-date in 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44630769/heres-how-many-vehicles-tesla-has-delivered-produced-in-each-quarter-since-2019">Here&#8217;s How Many Vehicles Tesla Has Delivered, Produced In Each Quarter Since 2019</a></li>
</ul>



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Reiteration

Analyst Ratings

Tesla In 'Code Red Situation' As Analyst Flags 6 Threats Tied To Musk's Government Role

After Monday&#8217;s broad-based sell-off — triggered by renewed pressure from President Donald Trump on Federal Reserve Chairman Jerome Powell, raising concerns over the integrity of central bank independence — Wall Street bounced back with strength on Tuesday, buoyed by upbeat signals from <a href="https://www.benzinga.com/earnings">the corporate earnings season.</a>



By midday in New York, major indices were up by nearly 3%, with all 11 sectors of the S&amp;P 500 trading in positive territory. Consumer discretionary stocks led the rally.



The Dow Jones Industrial Average surged over 1,000 points, breaking above the 39,200 mark, as bullish momentum swept across Wall Street. Only a few S&amp;P 500 stocks remained in negative territory.



At a JPMorgan-hosted event in Washington, U.S. Treasury Secretary Scott Bessent hinted at a potential de-escalation in tensions with China, further supporting risk sentiment.



Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged nearly 5% as investors looked ahead to the company's first-quarter earnings report, due after the closing bell.



In the bond market, after two sessions of rising Treasury yields, a modest pullback suggested some investors saw an opportunity to buy as long-dated yields neared the 5% threshold.



On the commodities front, gold briefly touched $3,500 per ounce overnight before retreating to $3,420 amid an improvement in equity market sentiment. Oil jumped 2.3%, with WTI crude reaching $64 per barrel, while copper gained 2.8%.



The cryptocurrency market also reflected a broader risk-on mood. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied 4% to $91,000, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) advanced more than 7% to $1,700.



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



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg</td><td>1-day %</td></tr><tr><td>Nasdaq 100</td><td>18,321.10</td><td>+512.80</td><td>2.9%</td></tr><tr><td>Dow Jones</td><td>39,215.87</td><td>+1,045.46</td><td>2.7%</td></tr><tr><td>S&amp;P 500</td><td>5,297.34</td><td>+139.14</td><td>2.7%</td></tr><tr><td>Russell 2000</td><td>1,889.24</td><td>+48.92</td><td>2.7%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:10 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>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rallied 2.7% to $527.95.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 3.9% to $392.14.</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;rose 3% to $446.20.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 2.7% to $187.68.</li>



<li>The&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 3.8%. </li>
</ul>



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



Stocks reacting to quarterly earnings included: 



<ul>
<li>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) up 4.8%</li>



<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) up 0.5%,</li>



<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) down 8.7%</li>



<li>Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) up 6.6%, </li>



<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) up 2.4%, </li>



<li>Moody&#8217;s Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) up 3%</li>



<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) up 8%</li>



<li>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) down 13%</li>



<li>Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) up 14%. </li>



<li>Halliburton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) down 4.9%. </li>
</ul>



Shares of First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) soared 12% as the U.S. administration imposed tariffs up to 3,521% on solar imports from Southeast Asia. 



<h1 class="wp-block-heading">S&amp;P 500&#8217;s Top 5 Gainers</h1>



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company</th><th>% Change</th></tr></thead><tbody><tr><td>Equifax Inc. </td><td>14.34%</td></tr><tr><td>First Solar, Inc. </td><td>12.35%</td></tr><tr><td>Pentair plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>)</td><td>9.59%</td></tr><tr><td>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>)</td><td>9.17%</td></tr><tr><td>PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>)</td><td>8.30%</td></tr></tbody></table></figure>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44926902/imf-slashes-us-growth-outlook-as-trump-tariffs-bite-raises-recession-odds-to-40">IMF Slashes US Growth Outlook As Trump Tariffs Bite, Raises Recession Odds To 40%</a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

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Mid Cap

Federal Reserve

$ETH

FSLR

Wall Street Rebounds Ahead Of Tesla Earnings, Dow Adds 1,000 Points, Bitcoin Hits $91,000: What's Driving Markets Tuesday?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investors are hoping to get more answers on where things stand with FSD, new electric vehicle models and the impact of tariffs when the company reports its first-quarter financial results on Tuesday<a href="https://www.benzinga.com/earnings"> after the market close.</a>



Here are the earnings estimates, what analysts and experts are saying and the key items to watch.



Earnings Estimates: Analysts expect Tesla to report first-quarter revenue of $21.35 billion, up from $21.30 billion in last year's first quarter, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0421">from Benzinga Pro.</a>



Analysts expect the company to report first-quarter earnings per share of 41 cents, down from 45 cents in last year's first quarter. The company beat earnings per share estimates in the fourth quarter.



Tesla has missed analyst estimates for earnings per share in five of the last six quarters and six of the last 10 quarters overall.



Read Also: <a href="https://www.benzinga.com/25/04/44630769/heres-how-many-vehicles-tesla-has-delivered-produced-in-each-quarter-since-2019">Here&#8217;s How Many Vehicles Tesla Has Delivered, Produced In Each Quarter Since 2019</a>



What Experts Are Saying: Tesla sales are falling, especially in Europe and CEO Elon Musk's focus could be elsewhere, said Jay Woods, Freedom Capital Markets chief global strategist. 



"Tesla remains one of the most volatile and discussed stocks in the world. Elon Musk's political bent has made this stock a lightning rod of discussion," Woods said in a weekly <a href="https://jaywoods.substack.com/">newsletter</a>.



Woods wrote that Tesla stock made a full reversal since its "post-election rally" and is poised to move again. "This is not an ideal looking chart for the bulls as key levels of support have been breached, the near-term trend is lower and the long-term trend is a volatile mess."



Woods said the key could be how Tesla's numbers look and if any guidance is given.



"It is not an ideal risk/reward set-up going into the numbers," he adds, while cautioning that the stock could fall to August 2024 lows around $180 if there is weakness.



Analysts have been lowering price targets on Tesla ahead of its first-quarter financial results, following the release of first-quarter deliveries that missed an analyst estimate of more than 377,000 units.



Wedbush analyst Daniel Ives, who is among the biggest bulls on Tesla, has been arguing that Musk <a href="https://www.benzinga.com/25/04/44891383/elon-musk-needs-to-leave-the-government-and-get-back-to-being-ceo-of-tesla-says-dan-ives-ahead-of-q1-earnings">should be focusing </a>more time on Tesla.



RBC Capital analyst Tom Narayan maintained an Outperform rating on Tesla while lowering the price target from $440 to $320 in March. The analyst argued that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44380301/tesla-analyst-says-demand-fears-overblown-but-has-some-concerns-as-used-car-prices-plummet">demand fears could be overblown </a>at the time, but also lowered pricing assumptions for FSD and the penetration rates of Robotaxis.



Cantor Fitzgerald&#8217;s Andres Sheppard was one of the lone Tesla analysts to upgrade the stock in recent months, moving it from Neutral to Overweight with a $425 price target last month.



The upgrade came after visiting Tesla's Austin Gigafactory and the company's AI data centers. Sheppard said Tesla's stock had an attractive entry point at the time ahead of catalysts like the Robotaxi introduction, the rollout of Full Self-Driving, a lower-priced vehicle and Optimus Bot production.



While Sheppard upgraded Tesla stock, he called for a "mild" first quarter for the company, seeing demand weakness and negative sentiment surrounding Musk's political stance.



Here are other recent<a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"> Tesla analyst ratings</a> and price targets.



<ul>
<li>Piper Sandler: Maintained Overweight rating, lowered price target from $450 to $400</li>



<li>UBS: Maintained Sell rating, lowered price target from $225 to $190</li>



<li>Mizuho: Maintained Outperform rating, lowered price target from $430 to $375</li>



<li>Benchmark: Maintained Buy rating, lowered price target from $475 to $350</li>



<li>Wedbush: Maintained Outperform rating, lowered price target from $550 to $315</li>



<li>Goldman Sachs; Maintained Neutral rating, lowered price target from $320 to $275</li>
</ul>



Key Items to Watch: After missing analyst estimates for <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44607859/teslas-deliveries-slide-in-q1-amid-production-setbacks-political-backlash">first-quarter deliveries</a>, any guidance from the company for full-year deliveries will be closely watched by analysts and investors. The company previously said it expected to return to growth for its vehicle business in 2025, but that could now be out of reach.



"The rate of growth will depend on a variety of factors, including the rate of acceleration of our autonomy efforts, production ramp at our factories and the broader macroeconomic environment," the company previously said.



Updates on new vehicles, including more affordable models, will also be closely watched, as the company previously said it remained on track for production in the first half of 2025.



Tariffs and macroeconomic conditions remain concerns for the company, as evidenced by some of the<a href="https://www.benzinga.com/25/04/44845458/tesla-top-10-shareholder-questions-investors-want-answers-on-fsd-cybercab-tariffs-brand-damage-and-more"> top requested shareholder questions</a> for the first quarter. 



The top vote-getters for questions center on several topics, including FSD, Robotaxis, tariffs, and new models. There are numerous questions on tariffs and macroeconomic concerns. While Tesla may be better positioned to handle tariffs on countries like Canada and Mexico, investors are still worried about their impact.



While Tesla assembles and sells its EVs in the U.S., the company imports parts for several vehicles. This week, the company announced it was <a href="https://www.benzinga.com/news/global/25/04/44838043/tesla-stock-is-trading-lower-wednesday-whats-going-on" target="_blank" rel="noreferrer noopener">suspending plans</a> to ship parts from China for the Cybercab and Tesla Semi.



A top question on &#8220;brand damage&#8221; could also be significant. Multiple studies and reports have shown that sales have declined and the company&#8217;s brand has suffered since Musk&#8217;s political involvement in politics grew.



TSLA Price Action: Tesla stock was down 6% to $227.42 on Monday versus a 52-week trading range of $138.80 to $488.54. Tesla stock is down 40% year-to-date in 2025, while shares remain up 60.1% over the last year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44896337/teslas-q1-test-drive-will-earnings-steer-tesla-stock-out-of-the-ditch">Tesla Q1 Test Drive: Will Earnings Steer The Stock Out Of The Ditch?</a></li>
</ul>



Photo: Shutterstock

Tesla Q1 Earnings Preview: Shareholders, Analysts Want Answers On Guidance, Tariffs, FSD And More

The International Monetary Fund has sharply downgraded its 2025 growth forecast for the United States, citing President Donald Trump's sweeping tariffs and a surge in economic <a href="https://www.benzinga.com/topic/donald-trump">uncertainty as major headwinds. </a>



In its April 2025 World Economic Outlook, the IMF now projects U.S. GDP growth at just 1.8% for the year, marking a 0.9 percentage point cut from its January forecast. 



Roughly 0.4 percentage points of the downgrade is directly linked to Trump's trade actions, while the rest reflects weakening domestic momentum that began even before the tariff shock.



"The tariffs represent a supply shock for the United States," said Pierre-Olivier Gourinchas, IMF chief economist. "They reduce productivity and output permanently, and raise price pressures temporarily."



While the IMF still expects positive growth this year, it acknowledges that the risk of recession has risen substantially. Gourinchas said the IMF&#8217;s recession probability for the U.S. in 2025 has climbed to 40%, up from 25% in October.



<h3 class="wp-block-heading">A Trade Shock With Long-Term Consequences</h3>



The growth hit comes as the U.S. effective tariff rate has surged past levels last seen over a century ago. 



On April 2, Trump announced sweeping "reciprocal" tariffs on nearly all U.S. trading partners, triggering retaliatory measures from several countries. The IMF warns that these trade disruptions are not only curbing growth in the short term but also lowering the long-run potential of the U.S. economy.



"For trading partners tariffs act mostly as a negative external demand shock weakening activity and prices" the IMF noted.



&#8220;All countries are negatively affected by the surge in trade policy uncertainty as businesses, cut purchases and investment, while financial institutions reassess their borrowers exposure,&#8221; Gourinchas said.



<h3 class="wp-block-heading">Growth Slows, Inflation Pressures Mount</h3>



While growth slows, inflation is expected to remain sticky. The tariffs are seen increasing import costs, adding short-term upward pressure on prices even as consumer demand cools. The IMF raised its U.S. inflation forecast modestly, reflecting these dynamics.



The report warns that this combination of slower growth and persistent inflation puts the Federal Reserve in a difficult position, especially as it faces political pressure from the Trump administration to slash interest rates.



"Monetary policy will need to remain agile," the IMF chief said. "But central bank independence remains a cornerstone of long-term credibility."



<h3 class="wp-block-heading">Dollar Disconnect</h3>



The IMF also flagged a notable divergence from historical norms: instead of strengthening amid tariffs, the U.S. dollar has weakened. That reflects, in their view, a diminished global demand for dollar-denominated assets as policy credibility erodes.



"The tariffs could have appreciated the dollar," Gourinchas said. "Yet, greater policy uncertainty lower U.S. growth prospects and an adjustment in the global demand for dollar assets are weighing down on the dollar.&#8221;



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>) – has weakened by about 10% since Trump&#8217;s inauguration in January. 



Read now: 



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44910907/top-fed-voices-defend-powell-slam-trumps-attack-on-central-bank-independence">Top Fed Voices Defend Powell, Slam Trump&#8217;s Attack On Central Bank Independence</a></li>
</ul>



Photo: Shutterstock

Regulations

IMF Slashes US Growth Outlook As Trump Tariffs Bite, Raises Recession Odds To 40%

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on Tuesday surged past the $90,000 mark for a 2.5% daily gain, as experts point to its growing perception as a safe-haven asset akin to &#8220;digital gold&#8221; amid a <a href="https://www.benzinga.com/25/04/44580634/bitcoin-is-digital-risk-not-digital-gold-asserts-peter-schiff">weakening U.S. dollar and market volatility</a>.



What Happened: The rally, which saw Bitcoin hit a high of $90,480, coincides with gold reaching new highs and U.S. equities sliding to tariff-era lows, prompting analysts to reevaluate the cryptocurrency's role in portfolio diversification.



Speaking with Benzinga, Tracy Jin, COO of MEXC, emphasized Bitcoin's resilience, noting that its tandem rally with gold signals a shift in investor perception. 



"Bitcoin's ability to post gains is reshaping investor perception," Jin said, highlighting its potential decoupling from risk-on assets. 



She suggested that persistent strength could drive institutional inflows in Q2, potentially pushing Bitcoin to all-time highs between $150,000 and $200,000, provided it holds support above $86,000-$87,000.



Katie Stockton, Founder of Fairlead Strategies, offered a more cautious outlook, maintaining a short-term neutral stance on Bitcoin despite its relief rally. 



"Bitcoin is extending its relief rally, clearing its 50-day MA," Stockton told Benzinga, but pointed to resistance between $88,200 and $88,800. 



She warned that the monthly stochastics' overbought downturn suggests the rally may be counter-trend, with support at $73,800 if momentum falters.



Alex Kuptsikevich, chief market analyst at FxPro, in a note sent to Benzinga, underscored Bitcoin's technical strength, noting its test of the 200-day moving average. 



"A breakout above this level could lead to acceleration," he said, adding that the crypto market's $2.76 trillion capitalization reflects recovering sentiment, with the sentiment index rising to 47, a high not seen since late March.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44922586/bitcoins-dual-role-could-propel-it-to-200000-standard-chartered">Bitcoin&#8217;s Dual Role Could Propel It To $200,000: Standard Chartered</a>



Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), meanwhile, traded up 1.5% at $1,650, hovering near key support at $1,550, according to Stockton, who remains intermediate- and long-term bearish on the asset. 



Other major altcoins, including XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), saw modest 1% gains over the past 24 hours. 



Liquidation <a href="https://www.coinglass.com/LiquidationData">data</a> showed $322.2 million in positions wiped out, with $184.55 million in shorts and $137.65 million in longs, reflecting heightened market volatility.



Jin also flagged unconfirmed rumors of Federal Reserve Chairman Jerome Powell's possible resignation as a potential driver of Bitcoin and gold's strength, alongside dollar weakness. 



She urged investors to monitor upcoming economic data and speeches from FOMC members and ECB President Christine Lagarde, which could sway broader market sentiment.



What&#8217;s Next: As Bitcoin consolidates above $90,000, analysts remain divided on its near-term trajectory but agree that its evolving narrative as a hedge against inflation and uncertainty could redefine its place in global finance.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44919277/xrp-solana-dogecoin-among-72-crypto-related-etfs-awaiting-sec-approval">XRP, Solana, Dogecoin Among 72 Crypto-Related ETFs Awaiting SEC Approval</a></li>
</ul>



Image: Shutterstock

$BNB

$DOGE

$SOL

$XRP

Bitcoin Reclaims $90,000: Is 'Digital Gold' Heading To $100,000 Next?

As gold rips through record highs above $3,500 an ounce, another classic safe haven is quietly staging one of its strongest comebacks in over <a href="https://www.benzinga.com/topic/japan">a decade: the Japanese yen.</a>



With global investors gripped by tariff fears, central bank politicization, and a deteriorating U.S. economic backdrop, Japan's currency has emerged as a stealth winner, rallying 12% year-to-date through April 22—its strongest surge since 2010. 



On Tuesday, the USD/JPY pair fell to 140.45, marking its lowest level since September 2024.



A risk-off trade that long seemed forgotten—long yen, short U.S. equities—has returned to form with force. 



A strategy betting on the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>) while shorting the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) would have delivered a 24% gain since the start of the year.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="582" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126-1024x582.png" alt="" class="wp-image-881800" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126-1024x582.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126-768x436.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126-1536x873.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/22083522/image-126.png 1901w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Political Uncertainty Fuels The Flight To Yen</h2>



The deepening standoff between President Donald Trump and Federal Reserve Chair Jerome Powell has rattled global confidence in the U.S. financial assets while boosting flows towards traditional safe havens.



What began as Trump's critique of Powell's monetary policy has escalated into a full-blown power struggle, with Trump openly suggesting he may remove Powell before his term ends in 2026.



On Monday, Trump&#8217;s latest Truth Social salvo accused Powell of being "Mr. Too Late" and claimed the Fed Chair had acted politically during the last election cycle.



In this environment, non-dollar safe havens like gold and the yen are soaking up demand. While gold draws headlines with its 30% year-to-date rally, the yen's strength speaks volumes about how global capital is repositioning as U.S. institutions come under pressure.



"The yen is the biggest winner in this latest round of USD selling," said Francesco Pesole, FX strategist at ING. "It responds to both the equity slump and the risks to the Fed's independence."



<h2 class="wp-block-heading">Analysts See More Upside For The Yen</h2>



Pesole doesn't see the yen's rally reversing anytime soon. 



"USD/JPY has dropped below the 140 mark and, given the broad attractiveness of the yen as a safe-haven substitute, we don't see the conditions for an immediate reversal," he said, adding that a move toward 135.0 could materialize if currency discussions surface during U.S.-Japan trade talks this week.



Japanese Finance Minister Katsunobu Kato is set to meet U.S. Treasury Secretary Scott Bessent, with currency issues reportedly high on the agenda. 



If the Trump administration seeks a trade concession in the form of a weaker dollar vs. the yen, markets could quickly price in further gains for Japan's currency.



Alejandro Cuadrado, strategist at BBVA, indicated that "USD/JPY has the 135.58 2024 low in sight," citing the yen's strength from haven flows, solid fundamentals and a Bank of Japan stance that appears steady even amid global volatility.



Indeed, reports on Monday suggested BoJ officials have no plans to abandon their tightening bias, even as inflation forecasts are expected to be trimmed in light of the stronger yen. 



"The yen exuberance remains unchallenged in G10 FX," Cuadrado added. "We believe the pair has room to consolidate at lower levels in the coming months."



<h3 class="wp-block-heading">Yen Outperforms In VIX Spikes, Even When Yields Rise</h3>



Goldman Sachs FX strategist Kamakshya Trivedi highlighted that the yen tends to outperform the dollar during periods of simultaneous bond and equity selloff. That&#8217;s particularly the case when the CBOE Volatility Index is elevated.



"The past few days have been more unique—with growing odds of a U.S. downturn coinciding with higher yields and lower equities," Trivedi said. 



"When we calculate average USD/JPY returns since 2000 on days when both bonds and equities sell off, the yen tends to outperform—especially when the VIX spikes."



Goldman maintains a 12-month target of 135 for USD/JPY, yet Trivedi noted that deterioration in the U.S. labor market or further market stress could significantly accelerate that timeline.



Now Read: 



<ul>
<li><a href="http://benzinga.com/economics/macro-economic-events/25/04/44910907/top-fed-voices-defend-powell-slam-trumps-attack-on-central-bank-independence">Top Fed Voices Defend Powell, Slam Trump&#8217;s Attack On Central Bank Independence</a></li>
</ul>



Image: Shutterstock

Currency ETFs

Forex

Japanese Yen Surges To 7-Month Highs, Expects Best Year Since 2010 As Safe-Haven Stampede Intensifies

Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) shares are trading higher premarket after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n44918859/lockheed-martin-reports-first-quarter-2025-financial-results" rel="noreferrer noopener">reported&nbsp;first-quarter&nbsp;2025 results</a>.



The company reported a &nbsp;4%&nbsp;year-over-year increase in net sales to&nbsp;$18.0 billion, beating the consensus of&nbsp;$17.8 billion. It clocked a GAAP EPS of&nbsp;$7.28,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$6.32</a>.



Gross profit rose to $2.32 billion from $1.99 million a year ago quarter. Operating profit increased 17% Y/Y to $2.37 billion, with a margin of 13.2% (vs. 11.8% in earlier year quarter).



Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44655959/elon-musks-spacex-jeff-bezos-blue-origin-and-boeing-lockheeds-ula-bag-13-5-billion-pentagon-launch-contracts" rel="noreferrer noopener">Elon Musk's SpaceX, Jeff Bezos' Blue Origin, And Boeing-Lockheed's ULA Bag $13.5 Billion Pentagon Launch Contracts</a>



Aeronautics sales were&nbsp;$7.06 billion&nbsp;(+3%&nbsp;Y/Y), and the operating margin was&nbsp;10.2%, up from&nbsp;9.9%&nbsp;a year ago quarter.



Missiles and Fire Control sales of&nbsp;$3.37 billion&nbsp;(+13%&nbsp;Y/Y); operating margin was 13.8%, up from&nbsp;10.4%&nbsp;in the prior quarter.



Rotary and Mission Systems sales of&nbsp;$4.33 billion&nbsp;(+6%&nbsp;Y/Y); operating margin&nbsp;12.0%, up from 10.5% in the year-ago quarter.



Space net sales of&nbsp;$3.21 billion&nbsp;(-2%&nbsp;Y/Y); operating margin&nbsp;of 11.8%, up from 9.9% in 2024.



Lockheed Martin generated an operating cash flow of&nbsp;$1.4 billion and a free cash flow of&nbsp;$955 million&nbsp;for the first quarter of FY25.



At the end of the quarter, LMT's total backlog was&nbsp;$172.97 billion.



In the first quarter, LMT returned&nbsp;$1.5 billion&nbsp;of cash to shareholders through dividends and share repurchases.



In the quarter, the company paid cash dividends of $796&nbsp;million and repurchased 1.7&nbsp;million shares worth $750&nbsp;million.



2025&nbsp;Outlook Maintained: Lockheed Martin expects net sales of&nbsp;$73.75 billion-$74.75 billion&nbsp;versus the consensus of&nbsp;$74.28 billion. LMT reiterated EPS guidance of ~$27.00-$27.30&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the consensus of&nbsp;$27.21.</a>



The company continues to project Business segment operating profit of&nbsp;$8.10 billion—$8.20 billion, cash from operations of&nbsp;$8.50 billion—$8.70 billion, and free cash flow of&nbsp;$6.6 billion—$6.8 billion.



Lockheed Martin says &#8216;2025&nbsp;outlook&nbsp;does not include the evolving impacts of tariffs or related recoveries, the recent Next Generation Air Dominance announcement, or Executive Orders issued by the Administration.'



Chairman, President and CEO&nbsp;Jim Taiclet added, &nbsp;"We remain committed to realizing our vision of digital and interoperable systems and are aligning our mission roadmaps to best support our customers' rapidly evolving security needs, both domestic and global."



"This focus, along with Lockheed Martin's track record of innovation and performance, continues to result in new awards, including the recent missiles contracts for Precision Strike Missiles, THAAD and JASSM/LRASM, as well as the Trident II D5 Life Extension, comprising up to&nbsp;$10 billion&nbsp;of future work."



Last week, the company announced that it had named&nbsp;Evan Scott its&nbsp;CFO, effective immediately, succeeding&nbsp;Jesus "Jay" Malave, who advised the company that <a target="_blank" href="https://www.benzinga.com/25/04/44867490/evan-scott-takes-over-as-lockheed-martin-cfo-succeeding-jesus-jay-malave" rel="noreferrer noopener">he was pursuing other opportunities</a>.



Price Action: At the last check on Tuesday, LMT shares were trading higher by 2.76% to $471 premarket.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/04/44921124/ge-aerospace-expands-q1-operating-margins-ceo-talks-cost-control-to-mitigate-tariff-impact" target="_blank" rel="noreferrer noopener">GE Aerospace Expands Q1 Operating Margins, CEO Talks Cost Control To Mitigate Tariff Impact</a></li>
</ul>



Photo via Shutterstock

Guidance

Lockheed Martin Does Not Alter Annual Outlook To Price Tariff Impact Yet Amid Recent CFO Change

Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)&nbsp;stock reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44918133/verizon-delivered-strong-financial-growth-with-industry-leading-wireless-service-revenue-in-1q-202" rel="noreferrer noopener">fiscal&nbsp;first-quarter</a> results&nbsp;Tuesday.&nbsp;The stock price tumbled after the report.



Its revenue growth was 1.5% year-over-year, reaching $33.49 billion, topping the&nbsp;analyst consensus estimate of $33.24 billion. Adjusted EPS of $1.19 topped the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $1.15</a>.



Total wireless service revenue was $20.8 billion, up 2.7% year over year.



Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/02/43883822/t-mobile-wins-nyc-public-safety-deal-introduces-new-plans-for-first-responders-and-military-families" rel="noreferrer noopener">T-Mobile Wins NYC Public Safety Deal, Introduces New Plans For First Responders And Military Families</a>



Postpaid phone net losses were 289,000 versus 114,000 net losses Y/Y driven by price hikes, intense rival promotional offers, and lesser government support. Verizon attributed some of the loss to lower spending by some federal agencies as the Trump administration moves to slash thousands of jobs, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-04-22/verizon-loses-more-subscribers-than-expected-in-tight-market?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.



Verizon Business&#8217; retail postpaid net additions were 94,000. The quarter saw 339,000 total broadband net additions, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38356319/verizons-q1-flat-revenue-bump-in-free-cash-flow-and-stable-2024-outlook" rel="noreferrer noopener">compared to 389,000</a> Y/Y.&nbsp;



The company ended the quarter with over 12.6 million broadband subscribers, up 13.7% year over year. Broadband growth marks Verizon&#8217;s attempts to offer fiber connections and home wireless service powered by its 5G networks, which are bundled with its mobile plans and content packages.



At the end of the quarter, the company had over 4.8 million fixed wireless subscribers. Total fixed wireless access net additions reached 308,000 in the quarter.



Verizon said it is well-positioned to achieve the next milestone of 8 to 9 million fixed wireless access subscribers by 2028.



Total Verizon Business revenues were $7.3 billion, down 1.2% Y/Y. Total Verizon Consumer revenue rose by 2.2% Y/Y to $25.6 billion.&nbsp;Consumer wireless retail postpaid churn was 1.13%, and wireless retail postpaid phone churn was 0.90%.&nbsp;



Verizon Consumer clocked wireless retail postpaid phone net losses of 356,000, versus 194,000 net losses Y/Y. Verizon Consumer had fixed wireless net additions of 199,000.



Verizon&#8217;s net income stood at $5.0 billion versus $4.7 billion a year ago.



The consumer segment EBITDA margin improved by 20 bps to 42.8%, while the business segment EBITDA margin grew by 240 bps to 23.1%. Company-level adjusted EBITDA of $12.6 billion, up from $12.1 billion Y/Y. 



Verizon&#8217;s quarterly free cash flow was $3.6 billion, up from $2.7 billion Y/Y.



In March, Verizon Chief Revenue Officer&nbsp;Frank Boulben&nbsp;warned against weaker subscriber numbers due to competition, as per Bloomberg. After the Christmas holiday, Verizon ended its seasonal promotions, unlike its rivals, he said. Customers are also keeping their phones longer.



Verizon recently&nbsp;promised&nbsp;a <a target="_blank" href="https://www.benzinga.com/media/25/04/44644607/verizons-new-3-year-price-lock-free-phone-offer-strategic-move-to-boost-customer-retention" rel="noreferrer noopener">three-year price</a> guarantee and a free phone trade-in for mobile phones and home internet plans to gain market share.



Verizon and its rivals remain shielded from President Donald Trump&#8217;s tariff policies because of their U.S. focus, according to&nbsp;Bloomberg analysts. However, they added that telecom companies could be vulnerable to longer-term effects, such as downgrades from premium phone plans.



FY25 Outlook: Verizon&nbsp;reiterated a 2.0%–2.8%&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/25/01/43189382/verizon-q4-earnings-revenue-beat-1-million-mobile-and-broadband-subscriber-adds-business-segment-margin-expands" rel="noreferrer noopener">growth in wireless service</a> revenue. It reaffirmed an adjusted EPS of $4.59 – $4.73 versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $4.67</a>.



Verizon reiterated $17.5 billion to $18.5 billion in 2025 free cash flow, $35 billion to $37 billion in operating cash flow, and $17.5 billion to $18.5 billion in capital expenditure. Verizon&#8217;s guidance does not include any tariff impact.



Price action:&nbsp;VZ stock is down 5.73% at $40.48 premarket at the last check on Tuesday.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44909414/google-parent-alphabets-topline-can-withstand-pressure-in-uncertain-macro-scenario-compared-to-peers-analyst" target="_blank" rel="noreferrer noopener">Google Parent Alphabet&#8217;s Topline Can Withstand Pressure In Uncertain Macro Scenario Compared To Peers: Analyst</a></li>
</ul>



Photo: Karolis Kavolelis/Shutterstock

Media

Verizon Loses 289 Thousand Postpaid Subscribers In Q1 Due To Price Hikes And Competition

President Donald Trump held a meeting with the CEOs of Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), and Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) on Monday.



What Happened: The meeting was centered around the possible effects of Trump&#8217;s wide-ranging tariff plans on the import-centric business models of these retail behemoths. Walmart&#8217;s CEO Doug McMillon, Target CEO Brian Cornell, and Home Depot&#8217;s Ted Decker attended the meeting, <a href="https://www.cnbc.com/2025/04/21/trump-tariffs-walmart-home-depot-lowes-target.html">CNBC </a>reported.



Despite initial reports of a representative from&nbsp;Lowe&#8217;s Companies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) attending, it was later confirmed that Lowe&#8217;s was not represented at the meeting.



Post-meeting, the three companies issued similar statements, expressing gratitude for the opportunity to share their insights with the President and his team. They pledged their commitment&nbsp;to delivering value for American&nbsp;consumers and expressed eagerness to continue the dialogue. 



President Trump later expressed satisfaction with the meeting, stating it was an honor to host the retail leaders in the Oval Office.



David French, the executive vice president for government relations at the National Retail Federation, previously told the New York Times, "The deal window may be open.&#8221;



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/25/04/44916042/general-motors-has-no-plans-to-move-ev-production-away-from-mexico-despite-tariff-uncertainty" target="_blank" rel="noreferrer noopener">General Motors Has No Plans To Move EV Production Away From Mexico Despite Tariff Uncertainty</a>



Why It Matters: Walmart sources about one-third of its products globally, with China and Mexico being the most significant suppliers. Meanwhile, Target, known for affordable fashion and home goods, primarily relies on overseas manufacturing for these items. For these retailers, tariffs present a new hurdle in an already challenging economic environment, where consumers are seeking low prices amidst high inflation.



Leading industry lobbying groups from agriculture, construction, manufacturing, retail, and tech are urging the White House to ease more tariffs, arguing that certain products are too costly or impractical to produce domestically and must be imported. Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook reportedly <a href="https://www.benzinga.com/25/04/44882019/apple-ceo-tim-cooks-dialogue-with-commerce-secretary-lutnick-secured-tariff-exemption-for-iphones-and-electronics-report">negotiated </a>with the White House and obtained relief for both his company and the wider electronics industry. Trump also later stated that he &#8216;helped&#8217; the CEO and his business. 



Nevertheless, earlier this month,&nbsp;<a href="https://www.benzinga.com/news/guidance/25/04/44711688/walmart-maintains-steady-growth-forecast-despite-tariffs">Walmart</a>&nbsp;reaffirmed its first-quarter guidance, indicating steady sales growth despite the looming tariffs. The retail giant continues to project a sales growth of 3% – 4% in constant currencies for the first quarter of FY26.



Meanwhile, a recent&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44797563/goldman-sachs-sees-upside-in-retail-giants-dollar-tree-home-depot-best-buy-and-target-despite-tariff-margin-pressures">Goldman Sachs analysis</a>&nbsp;highlighted the potential impact of China tariffs on profitability for Home Depot and Target. The report suggests that despite tariff and margin pressures, there might be an upside for these retail giants.



Benzinga's Edge Rankings&nbsp;highlight strong momentum and growth rankings for Walmart in the 94th and 55th percentiles, respectively. Curious how other stocks stack up?&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Click here</a>&nbsp;to uncover growth and momentum scores for top stocks.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44917155/xrp-leads-ethereum-bleeds-as-crypto-investment-products-see-6-million-in-inflows" target="_blank" rel="noreferrer noopener">XRP Leads, Ethereum Bleeds As Crypto Investment Products See $6 Million In Inflows &#8211; Benzinga</a></li>
</ul>



Image via Shutterstock



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

Markets

AAPL

Trump Meets With Walmart, Home Depot And Target CEOs To Discuss Tariff Impacting Consumer Prices

U.S. stock futures rebounded on Tuesday following Monday&#8217;s selloff. Futures of major benchmark indices were higher in premarket.



President Donald Trump <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44910907/top-fed-voices-defend-powell-slam-trumps-attack-on-central-bank-independence">attacked</a> Federal Reserve Chairman Jerome Powell on Monday via a Truth Social post. He called him &#8220;Mr. Too Late,&#8221; and urged the Fed Chair to cut rates preemptively.



This <a href="https://www.benzinga.com/25/04/44914873/walgreens-to-pay-up-to-350m-for-illegal-opioid-prescriptions-doj-says">triggered a market selloff</a>, raising concerns about the central bank&#8217;s independence and Trump&#8217;s interference with the monetary policy.



The 10-year Treasury bond yielded 4.40%, and the two-year bond was at 3.79%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool&#8217;</a>s projections show markets pricing an 89.5% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>0.81%</td></tr><tr><td>S&amp;P 500</td><td>1.00%</td></tr><tr><td>Nasdaq 100</td><td>1.01%</td></tr><tr><td>Russell 2000</td><td>0.98%</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, rose in premarket on Tuesday. The SPY was up 1.06% to $519.32, while the QQQ declined 1.11% to $437.92, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy, consumer discretionary, and information technology sectors pulled the U.S. stocks down on Monday.



Shares of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;fell around 5.8%, while&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;lost about 4.5% on Monday.&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;shares dipped around 5% during the session.



Comerica Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) fell despite&nbsp;reporting better-than-expected earnings for its first quarter on Monday.



After Monday&#8217;s close, the Nasdaq 100 was down 19.86% from its all-time high of 22,222.61 points. The S&amp;P 500 index was 16.09% lower than its previous record of 6,147.43 points, and the Dow Jones was 18.09% below its 52-week high of 45,073.63 points.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-2.55%</td><td>15,870.90</td></tr><tr><td>S&amp;P 500</td><td>-2.36%</td><td>5,158.20</td></tr><tr><td>Dow Jones</td><td>-2.48%</td><td>38,170.41</td></tr><tr><td>Russell 2000</td><td>-2.14%</td><td>1,840.32</td></tr></tbody></table></figure>



Insights From Analysts:



Senior economist Jeremy Siegel stated in his weekly WisdomTree note that &#8220;Markets show signs of tension.&#8221;



According to him, tariffs may drive a temporary bump in spending as firms and households rush to front-load purchases, but that demand is borrowed from future quarters. That's not sustainable; it's a warning sign. And once the real price increases filter through to consumer goods, public sentiment will shift quickly.



&#8220;Earnings are starting to reflect this uncertainty, though much of Wall Street's consensus remains stale, still anchored in pre-tariff forecasts. CEOs should be updating their models now to reflect multiple trade scenarios, especially those most exposed to China or to consumer imports.&#8221;



Siegel also highlighted that Powell will be blamed for any issues arising from Trump&#8217;s policy decisions.



&#8220;I expect Trump to increasingly blame the ‘too slow Powell' for any downsides that materialize from Trump's policies. Powell may be technically secure in his position, but that doesn't mean he's insulated from blame.&#8221;



Lastly, he advised that &#8220;For income, I continue to favor dividend-paying equities and international exposure over long-duration bonds.&#8221;



Fundstrat&#8217;s Tom Lee urged Scott Bessent and Howard Lutnick to <a href="https://www.benzinga.com/25/04/44915795/tom-lee-urges-bessent-and-lutnick-to-put-points-on-the-board-for-a-positive-policy-shock-to-the-stock-market">deliver swift trade deals</a>, aiming for a positive market &#8220;policy shock.&#8221;



Echoing Charles Gasparino&#8217;s call for the White House to &#8220;put points on the board,&#8221; which is a sales jargon for quick action during a slump, Lee stated that the market is sending this same message to Bessent, Lutnick, and the Trump&#8217;s trade team.



"They got to cut some deals and let the world know, and they have to do so soon because this could get even uglier," Gasparino's post added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is true &#x1f447; White House needs to put &quot;points on the board&quot; &#8211; this would be a positive &quot;policy shock&quot; <a href="https://t.co/XE4B6oVUi1">https://t.co/XE4B6oVUi1</a>&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href="https://twitter.com/fundstrat/status/1914421616471380033?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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 Tuesday:



<ul>
<li>Philadelphia Fed President Patrick Harker will speak at 9:30 a.m., Minneapolis Fed President Neel Kashkari will speak at 2:00 p.m., and Richmond Fed President Tom Barkin will speak at 2:30 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) rose 0.75% in premarket on Tuesday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $1.15 per share on revenue of $33.24 billion.</li>
</ul>



<ul>
<li>3M Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) was 0.06% below the flatline as Wall Street expects it to report earnings of $1.77 per share on revenue of $5.76 billion after the closing bell.</li>
</ul>



<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was up 0.66% as it is expected to report earnings after the closing bell. Analysts expect a quarterly earnings of 41 cents per share on revenue of $21.35 billion.</li>
</ul>



<ul>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) declined 4.66% after posting weaker-than-expected sales for its fourth quarter on Monday. The company reiterated its FY26 EPS forecast of $5.50-$6.10 on revenue of $1.625 billion-$1.725 billion.</li>
</ul>



<ul>
<li>Calix Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) jumped 13.14% after reporting better-than-expected first-quarter financial results and issuing strong second-quarter guidance. The company also announced an authorized increase to its stock repurchase program.</li>
</ul>



<ul>
<li>Guidewire Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) advanced 0.97% after committing $60 million to advance cloud-based insurance innovation and compliance in Japan.</li>
</ul>



<ul>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) jumped 2%, while Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) was 1.28% higher after the former launched AI-ready commodities data integrated with MSFT&#8217;s 365 Copilot.</li>
</ul>



<ul>
<li>Atkore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATKR#NYSE">ATKR</a>) climbed 5.08% after reporting preliminary second-quarter results, maintaining its full-year outlook.</li>
</ul>



<ul>
<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLI#NYSE">SLI</a>) surged 45% after its South West Arkansas Project received special designation as a priority transparency critical mineral project from the Trump Administration.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 1.68% to hover around $63.46 per barrel.



Gold Spot US Dollar advanced 0.92% to hover around $3,455.17 per ounce. Its fresh record high stood at $3,499.92 per ounce. The U.S. Dollar Index spot was higher by 0.07% at the 98.3450 level.



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



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44916388/chicago-fed-chair-goolsbee-agrees-with-bessent-fed-independence-is-a-jewel-box-awaits-tariff-revisit-before-jumping-to-action">Chicago Fed Chair Goolsbee Agrees With Bessent: &#8216;Fed Independence Is A Jewel Box,&#8217; Awaits Tariff Revisit Before &#8216;Jumping To Action&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

Futures

Treasuries

Pre-Market Outlook

General

AMZN

ATKR

CALX

GWRE

MSFT

NVDA

SPGI

US Stocks Likely To Open Higher Amid Trump's Preemptive Rate Cut Call:  Earnings Are Starting To Reflect This 'Uncertainty,' Says Expert

National Economic Council (NEC) Director Kevin Hassett anticipates the GOP tax bill will be approved by Congress by the start of summer.



What Happened: Hassett informed journalists at the White House of his expectations for the tax bill. He stated, &#8220;The hope is that the tax bill will be passed by the summer, early summer and so things are moving very, very quickly.&#8221; Hassett expects to "finalize the president's thoughts on the tax agenda" by next week, <a href="https://www.politico.com/news/2025/04/18/moving-very-very-quickly-hassett-predicts-tax-bill-passes-by-summer-00298446">reported </a>POLITICO.



Hassett&#8217;s timeline aligns with House Speaker Mike Johnson&#8216;s aspirations to pass President Donald Trump&#8216;s policy agenda by Memorial Day. However, this is an ambitious goal, considering the significant differences between Senate and House Republicans&#8217; proposals to extend trillions of dollars in expiring tax cuts from Trump&#8217;s first term.



The GOP legislation also aims to deliver on Trump&#8217;s campaign promises by eliminating taxes on tips, overtime pay, Social Security benefits, and implementing other new tax cuts. These tax provisions are included in the &#8220;one big beautiful bill&#8221; that Trump envisions, which also covers energy, border, and defense policies — along with potential significant spending cuts that may affect Medicaid.



Last week,&nbsp;House Republicans passed a budget blueprint for the legislation before heading out of Washington for recess. Hassett also mentioned that the &#8220;Big Six&#8221; group, which includes himself,&nbsp;Johnson, Senate Majority Leader John&nbsp;Thune (R-S.D.), Treasury Secretary Scott&nbsp;Bessent, Senate Finance Chair Mike&nbsp;Crapo (R-Idaho),&nbsp;and House Ways and Means&nbsp;Chair Jason Smith (R-Mo.),&nbsp;has been holding regular meetings to discuss the details of Trump&#8217;s tax bill.



Why It Matters: President Trump&#8217;s ambitious <a href="https://www.benzinga.com/personal-finance/25/02/44063509/trumps-5-trillion-to-11-trillion-tax-plan-a-boost-for-growth-or-a-path-to-unprecedented-debt">tax plans</a> could reduce federal revenue by $5 trillion to $11.2 trillion over the next decade, potentially increasing the nation&#8217;s debt, estimated the Committee for a Responsible Federal Budget. This plan includes extending tax cuts from the 2017 Tax Cuts and Jobs Act, expanding deductions, and providing targeted tax relief for specific groups.



In&nbsp;<a href="https://www.benzinga.com/personal-finance/25/03/44197826/big-deficits-big-tax-cuts-but-at-what-cost-how-the-fy2025-budget-impacts-everyday-americans">March</a>, Congress found itself in a standoff over the federal budget, with House and Senate Republicans passing different budget measures to advance parts of Trump&#8217;s economic agenda. The impasse sets the stage for a prolonged battle over government spending, tax cuts, and the deficit.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/44914780/michael-saylor-warns-leveraging-ethereum-and-solana-could-lead-to-ftx-terra-luna-like-situationcalls-them-balsa-wood-and-clay-bricks-to-bitcoins-steel" target="_blank" rel="noreferrer noopener">Bitcoin Is Steel, Ethereum And Solana Are Balsa Wood And Clay, Warns Michael Saylor—Strategy Chair Says Leveraging ETH, SOL Could Lead To &#8216;Catastrophe&#8217; &#8211; Grayscale Ethereum Mini Trust (ETH) Common u</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.

Personal Finance

Congress Could Greenlight Trump's 'Big Beautiful' Tax Bill By Summer: 'Things Are Moving Very, Very Quickly,' Says Hassett

On Monday, April 21, U.S. markets closed lower as President Trump intensified his criticism of Federal Reserve Chair Jerome Powell, raising fresh concerns over the central bank&#8217;s independence. Tech stocks led the sell-off, pulling all major indexes into negative territory. Ongoing trade tensions with China weighed on investor sentiment while anticipation built around upcoming corporate earnings reports.



All 11 sectors in the S&amp;P 500 ended the day in the red, with energy, consumer discretionary, and information technology stocks posting the largest losses.



The Dow Jones Industrial Average dropped 2.48% to 38,170.41, the S&amp;P 500 declined 2.36% to 5,158.20, and the Nasdaq Composite fell 2.55% to 15,870.90.



Related: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44909343/speculators-ramp-up-bets-on-who-will-succeed-fed-chair-powell-as-trumps-pressure-campaign-intensifies" rel="noreferrer noopener">Speculators Ramp Up Bets On Who Will Succeed Fed Chair Powell As Trump&#8217;s Pressure Campaign Intensifies</a>



Asia Markets Today



<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 declined 0.14% to close at 34,230.50, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>



<li>Australia&#8217; S&amp;P/ASX 200 closed lower by 0.03% at 7,816.70, led by losses in the IT, Energy and Healthcare sectors.</li>



<li>India&#8217;s Nifty 50 rose 0.18% to 24,170.00 and Nifty 500 rose 0.40% to 22,094.15.</li>



<li>China&#8217;s Shanghai Composite rose 0.25% to 3,299.76, while Shanghai Shenzhen CSI 300 slid 0.02% to 3,783.95.</li>



<li>Hong Kong&#8217;s Hang Seng closed 0.78% higher at 21,562.32.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was down 0.25%.</li>



<li>Germany&#8217;s DAX declined 0.19%.</li>



<li>France&#8217;s CAC 40 fell 0.28%.</li>



<li>U.K.&#8217;s FTSE 100 index traded higher by 0.38%.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading higher by 1.07% at $63.48/bbl, and Brent was up 1.57% at $67.30/bbl.</li>



<li>Oil prices rose on Tuesday as traders covered short positions after Monday&#8217;s sharp drop, though concerns lingered over tariffs and U.S. monetary policy dampening fuel demand. Gains were limited by progress in U.S.-Iran nuclear talks, which eased supply fears.</li>



<li>Natural Gas rose 0.70% to $3.037.</li>



<li>Gold was trading higher by 1.24% at $3,46.86, Silver was up 0.13% to $32.563, and Copper rose 0.82% to $4.7670.</li>



<li>Gold prices hit a new record high on Tuesday, driven by safe-haven demand amid U.S.-China trade tensions and concerns over Trump&#8217;s push to overhaul the Federal Reserve.</li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were up 0.87%, S&amp;P 500 futures gained 0.98% and Nasdaq 100 futures rose 0.99%.



Forex at 05:45 AM ET



<ul>
<li>The U.S. Dollar Index slipped 0.01% to 98.34, USD/JPY was down 0.35% to 140.35, and USD/AUD gained 0.15% to 1.5608.</li>



<li>The dollar fell to new lows Tuesday as Trump&#8217;s criticism of Fed Chair Powell sparked concerns over central bank independence and weakened confidence in the currency.</li>
</ul>



Image Via Shutterstock

Asia

Emerging Markets

Eurozone

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

EEMA

FLAX

IEMG

IEUR

KDIV

SPEM

USDU

Gold Hits Record High, Dollar Weakens As Trump's Policy Stance And Fed Chair Criticism Induces Uncertainty

The Primary School, a tuition-free private institution co-founded by Priscilla Chan, wife of Meta Platforms Inc. founder Mark Zuckerberg, will shut down after the 2025-2026 school year, the organization announced.



What Happened: Founded in 2016, the school aimed to integrate healthcare, education, and family support by bringing together parents, educators, and medical providers to serve underserved communities. The school currently operates two locations in East Palo Alto and East Bay, California.



&#8220;This was a very difficult decision,&#8221; said Jean-Claude Brizard, President of the school&#8217;s board, in a statement. The closure comes despite Chan and Zuckerberg&#8217;s continued investment in education and scientific research through their Chan Zuckerberg Initiative (CZI). The school has not publicly disclosed specific reasons for the closure.



To support the transition, CZI will invest $50 million over the next few years in the affected communities. The investment includes funding for 529 education savings plans for students, transition specialists, and support for families moving to new schools.



See Also: <a href="https://www.benzinga.com/25/04/44915795/tom-lee-urges-bessent-and-lutnick-to-put-points-on-the-board-for-a-positive-policy-shock-to-the-stock-market">Tom Lee Urges Bessent And Lutnick To &#8216;Put Points On The Board&#8217; For A &#8216;Positive Policy Shock&#8217; To The Stock Market</a>



Why It Matters: Some students will join the Ravenswood City School District, which has collaborated with The Primary School since its inception. 



The school&#8217;s innovative approach was designed to address systemic challenges facing underserved communities by creating a comprehensive support network for children from infancy through early adolescence. It currently serves over 300 families in East Palo Alto.



While The Primary School is closing, <a href="https://www.benzinga.com/general/entertainment/24/08/40411578/meta-ceo-mark-zuckerberg-commissions-statue-of-wife-priscilla-chan-sparks-online-buzz-bring">CZI continues its broader mission</a> through recently announced scientific &#8220;grand challenges&#8221; focused on the artificial intelligence-biology intersection to advance human health, including the development of an AI-based virtual cell model and new inflammation measurement tools.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/commodities/25/04/44915727/gold-tops-3500-as-investors-flee-to-safety-mohamed-el-erian-warns-of-global-system-shift-amid-trump-powell-tensions">Gold Tops $3,500 As Investors Flee To Safety: Mohamed El-Erian Warns Of Global System Shift Amid Trump-Powell Tensions</a></li>
</ul>



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



Image Via Shutterstock

Mark Zuckerberg's Wife Priscilla Chan's Tuition-Free School To Shutdown, $50 Million Support Pledged For Transition

The CNN Money Fear and Greed index showed some easing in overall fear level, while the index remained in the &#8220;Extreme Fear&#8221; zone on Monday.



U.S. stocks settled lower on Monday, with the Dow Jones index falling more than 950 points during the session. President Donald Trump took to Truth Social, demanding immediate rate cuts and blasting Fed Chair Jerome Powell as &#8220;Mr. Too Late,&#8221; accusing him of past political bias and inflation misjudgment.



Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell around 5.8%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost about 4.5% on Monday. Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares dipped around 5% during the session.



Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) reported better-than-expected earnings for its first quarter on Monday. Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported stronger-than-expected first-quarter financial results after the closing bell on Thursday.



All sectors on the S&amp;P 500 closed on a negative note, with energy, consumer discretionary, and information technology stocks recording the biggest losses on Monday.



The Dow Jones closed lower by around 972 points to 38,170.41 on Monday. The S&amp;P 500 dipped 2.36% to 5,158.20, while the Nasdaq Composite fell 2.55% to 15,870.90 during Monday's session.



Investors are awaiting earnings results from Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 21.6, the index remained in the &#8220;Extreme Fear&#8221; zone on Monday, versus a prior reading of 19.5.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based



&nbsp;on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



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<li><a href="https://www.benzinga.com/25/04/44896269/how-to-earn-500-a-month-from-3m-stock-ahead-of-q1-earnings">How To Earn $500 A Month From 3M Stock Ahead Of Q1 Earnings</a> </li>
</ul>



Photo courtesy: Shutterstock

NFLX

Nasdaq Dips Over 400 Points Amid Plunge In Tesla, Nvidia Shares: Greed Index Remains In 'Extreme Fear' Zone

Two prominent Fed voiced issued strong public defenses of the central bank&#8217;s independence on Monday, calling out President Donald Trump&#8216;s attacks on Chair Jerome Powell as politically <a href="https://www.benzinga.com/topic/jerome-powell">dangerous and economically destabilizing.</a>



Speaking Monday on CNBC, Richard Fisher, former president of the Dallas Fed, warned that Trump's repeated attacks on Powell could inflict serious long-term damage on the credibility of the Federal Reserve and the broader U.S. economy.



"The one thing you don't want to have happen is for the Fed to become politicized," Fisher said.



Fisher added that even if Trump could fire Powell, which remains legally uncertain, it would be a self-defeating move.



"I don't think it's in the president's interest to sack him. The markets would react extremely negatively," he said.



Fisher also highlighted that current uncertainty has already paralyzed corporate decision-making, referencing companies like United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), which recently offered dual earnings forecasts due to macroeconomic unpredictability.



"I think the president, frankly, is undermining his own case." "No business can make a decision here," Fisher said. "That uncertainty has been generated by the executive branch."



When asked whether Trump could legally demote or remove Powell, Fisher pointed to historical precedent—most notably in 1979, when President Jimmy Carter reassigned then-Fed Chair G. William Miller to Treasury Secretary after a period of poor economic performance and appointed Paul Volcker in his place. 



"I hope it doesn't come to push and shove," he said. "If it does, we're going to see further spread widening, higher interest rates and pressure that damages long-term confidence in the economy."



Fisher also pushed back on the assumption that Fed rate cuts would lower market interest rates, pointing out that recent episodes of easing were followed by yield spikes in longer-term bonds.



"After they cut 50 basis points and then did three more cuts, yields went up—not down. The 10-year rose by 100 basis points," Fisher said. "So even if you force cuts, the market may not respond how you think."



Ultimately, Fisher painted a picture of a market hamstrung by political volatility and a Fed cornered by noise from the White House.



&#8220;Forget about the stock market, the FED will always act if the credit markets become dysfunctional.&#8221;



<h3 class="wp-block-heading">Goolsbee: Interference Means &#8216;Higher Inflation, Worse Growth&#8217;</h3>



Echoing Fisher's concerns, Austan Goolsbee, President of the Federal Reserve Bank of Chicago, said earlier on <a href="https://www.cnbc.com/2025/04/21/chicago-feds-goolsbee-says-fed-independence-is-critically-important-for-its-inflation-fight.html">CNBC's Squawk Box</a> that interfering with the Fed's independence would erode the institution's credibility and lead to long-term economic pain.



"Fed independence is critically important," Goolsbee said. "When there is interference over the long run, it's going to mean higher inflation, worse growth and higher unemployment."



Although Goolsbee declined to comment directly on Trump's statements, his message was clear: monetary credibility depends on political neutrality, especially when inflation-fighting resolve is needed.



"Just look at the countries where they don't have Fed independence. Inflation is higher, unemployment is higher, growth is worse," he added.



U.S. financial markets came under heavy pressure Monday, with stocks, bonds and the dollar falling in unison, a rare and unsettling signal of deepening investor distrust.



The U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), slid to its lowest level since April 2022.



The S&amp;P 500, mirrored by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), sank 3.3% in one of its steepest single-day drops of the year.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44903750/gold-price-soars-to-record-highs-eyes-best-2-month-rally-since-2011-on-blockbuster-etf-buying">Gold Price Soars To Record Highs, Eyes Best 2-Month Rally Since 2011 On Blockbuster ETF Buying</a></li>
</ul>



Photo: RozenskiP / Shutterstock.com

Top Fed Voices Defend Powell, Slam Trump's Attack On Central Bank Independence

Three major U.S. defense contractors — RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) — are all scheduled to report earnings before the market opens on Tuesday. Here's a look at what to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44810625/top-analyst-sees-unprecedented-traction-for-pltr-stock-after-nato-agreement-another-validation-sign">watch in the reports. </a>



What To Know: The Trump administration has signaled potentially historic defense spending, with reports suggesting a Pentagon budget near $1 trillion, which could benefit all three contractors. However, President Donald Trump has sent mixed messages by advocating for increased allied purchases of U.S. weapons while discussing the possibility of cutting U.S. military spending. 



The administration's push for efficiency, led by Elon Musk at the Department of Government Efficiency, introduces more uncertainty for defense contractors, as many major programs are under review. 



Read Next: <a href="https://www.benzinga.com/25/04/44903087/amazon-stock-downgraded-price-target-slashed-as-tariffs-create-uncertainty">Amazon Stock Downgraded, Price Target Slashed As Tariffs Create Uncertainty&nbsp;</a>



RTX: Investors will be looking for continued growth in RTX's Collins Aerospace and Pratt &amp; Whitney units, which both recently announced a slew of <a href="https://www.benzinga.com/news/contracts/25/04/44686376/rtx-pops-as-pratt-whitney-expands-gtf-capacity-collins-aerospace-enhances-offerings">new deals </a>and led 2024's gains.



The company's backlog will also be monitored for continued growth after reaching a record $218 billion at the end of 2024.&nbsp;



According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of $1.35 per share and revenue of $19.79 billion for the quarter.&nbsp;



NOC: Investors will be watching the performance of Northrop&#8217;s four main business segments: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems, as well as updates on 2025 revenue and free cash flow guidance. 



Current expectations are for revenue between $42 billion and $42.5 billion and free cash flow of between $2.9 billion and $3.3 billion.&nbsp;



Earlier in April, Goldman Sachs analyst Noah Poponak upgraded Northrop Grumman stock from Sell to Neutral and raised the price target from $424 to $521. Analysts expect the company to report earnings of $6.26 per share on revenue of $9.94 billion, according to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 



LMT: Last week, Evan Scott <a href="https://www.benzinga.com/25/04/44867490/evan-scott-takes-over-as-lockheed-martin-cfo-succeeding-jesus-jay-malave">was named </a>as Lockheed Martin's CFO, succeeding Jesus Malave, effective immediately. In a press release, the company said it will be reaffirming its previously issued 2025 guidance and will provide updates on other key topics and answer questions with its first quarter earnings release. 



Investors will be watching the company's Aeronautics segment, driven by the F-35 program, which is expected to post solid sales. Analysts expect Lockheed Martin to report earnings of $6.34 per share on revenue of $17.8 billion for the first quarter. 



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/global/25/04/44899617/90-chance-of-recession-due-to-trumps-tariffs-sharp-slowdown-is-coming-economist-says">90% Chance Of Recession Due To Trump&#8217;s Tariffs: &#8216;Sharp Slowdown&#8217; Is Coming, Economist Says</a></li>
</ul>



Photo: <a href="https://www.shutterstock.com/g/MCMEDIASTUDIOPRO">MC MEDIASTUDIO</a> via Shutterstock

RTX, Lockheed Martin, Northrup Grumman Report Earnings Tuesday: What To Watch

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