Benzinga - Economy

Scott Bessent Meets BlackRock's Rick Rieder As Trump Eyes Fed Chair Replacement For Jerome Powell: Report - BlackRock (NYSE:BLK) - Benzinga

Scott Bessent is interviewing candidates to replace Jerome Powell as Federal Reserve Chair by May 2026, with BlackRock's Rick Rieder among those being considered.

Palantir's 100x Revenue Multiple 'Inspired' Billionaire Marc Benioff, Maybe CRM Is 'Not Charging Enough,' Says Salesforce CEO - Goldman Sachs Group (NYSE:GS), Salesforce (NYSE:CRM) - Benzinga

Salesforce CEO Marc Benioff praised Palantir's market positioning and premium pricing model, despite the size difference between the two companies.

Ray Dalio Recalls Getting 'Fired' In 1975 — Setback That Sparked $100 Billion Hedge Fund - Benzinga

Ray Dalio says getting fired in 1975 pushed him to launch Bridgewater Associates, which grew into a $100 billion hedge fund and helped him amass a $16 billion fortune.

Hims & Hers Faces FDA Heat As Commissioner Martin Makary Calls Out Super Bowl Ad For Hiding Drug Risks - Hims & Hers Health (NYSE:HIMS), Novo Nordisk (NYSE:NVO) - Benzinga

FDA Commissioner Martin Makary said Hims & Hers broke federal law with its Super Bowl ad promoting weight-loss drugs without disclosing side effects, and called it "the most overt breach" of FDA rules.

Elon Musk's xAI Reportedly Lays Off 500 Workers From Data Annotation Team As Startup Pivots To Specialist AI Tutors For Grok Expansion - Benzinga

Elon Musk's xAI has laid off about 500 data annotators in a major restructuring, shifting focus to specialist AI tutors to accelerate Grok's development despite recently securing $10 billion in new funding.

Howard Lutnick Says Elon Musk Got DOGE 'Backward,' Focused On Firing Instead Of Cutting Government Waste - Tesla (NASDAQ:TSLA) - Benzinga

Commerce Secretary Howard Lutnick said Elon Musk mishandled DOGE by focusing on mass layoffs instead of targeting government waste, leaving the program far short of its trillion-dollar savings goals.

Lockheed Martin Counters Boeing's F-47 Victory With Cost-Effective F-35 Upgrade Using Sixth-Gen Technology - BAE Systems (OTC:BAESY), Boeing (NYSE:BA) - Benzinga

Lockheed Martin is countering Boeing's F-47 win with a cost-effective F-35 upgrade that integrates sixth-generation tech, aiming to offer 80% of the F-47's capabilities at half the price.

Winklevoss Twins' Gemini Hits $4.4 Billion Valuation In Strong Nasdaq Debut - Bullish (NYSE:BLSH), Coinbase Global (NASDAQ:COIN) - Benzinga

Gemini Space Station Inc. saw a 32.2% surge in its stock price on its debut, reaching a $4.4 billion valuation and signaling renewed investor interest in digital assets.

Tesla Faces Class Action Over 'Wage Theft' Amid Preference For H-1B Workers Following Elon Musk's Push To Optimize Visa Practice - Coca-Cola (NYSE:KO), Amazon.com (NASDAQ:AMZN) - Benzinga

Tesla is facing a federal class action lawsuit accusing it of favoring H-1B visa holders over U.S. workers to cut labor costs, even as the company battles financial headwinds and regulatory scrutiny.

Trump Orders National Guard Deployment To Memphis Amid Soaring Crime, Escalating Federal Crackdown On Democrat-Led Cities - Benzinga

President Donald Trump ordered National Guard troops to Memphis as part of his crime crackdown in Democrat-led cities, drawing sharp pushback from local and national Democratic leaders who warn the move is unconstitutional and politically driven.

Earnings Scheduled For September 12, 2025 - Huize Holding (NASDAQ:HUIZ) - Benzinga

Adobe's CEO Calls AI Its 'Biggest Opportunity' In Decades As Segment Revenues Surpass $5 Billion: 'We Want AI Infused In Every Dollar of Revenue' - Adobe (NASDAQ:ADBE) - Benzinga

Adobe Inc. emphasized AI as its "biggest opportunity" in decades, playing a central role across product adoption and revenue growth.

Bitcoin, S&P 500 ETFs On Blockchain? BlackRock Reportedly Eyes Tokenization Of Its Big-Ticket Funds - BlackRock (NYSE:BLK) - Benzinga

BlackRock Inc. (NYSE:BLK), the world’s largest asset manager, is reportedly exploring ways to tokenize its exchange-traded funds, the latest in a broader Wall Street effort to bring real-world assets onto blockchains.

Microsoft Plans Major AI Chip Investments As Mustafa Suleyman Pushes 'Self-Sufficiency' Beyond OpenAI Partnership - Microsoft (NASDAQ:MSFT) - Benzinga

Microsoft is planning significant investments in proprietary AI chip infrastructure to achieve "self-sufficiency in AI".

3 Biotech Stocks Showing Strength With Big Spikes In Momentum Scores - Dianthus Therapeutics (NASDAQ:DNTH) - Benzinga

A handful of biotech stocks are showing renewed strength, with big spikes in their Benzinga Edge Ranking's Momentum scores.

Lutnick Hints At Fannie Mae, Freddie Mac IPO In 2025 To Show The 'Mark To Market' Worth To American Taxpayers—'Largest IPO In History' - Federal Home Loan (OTC:FMCC), Federal National Mortgage (OTC:FNMA) - Benzinga

Commerce Secretary Howard Lutnick suggested that the U.S. government is considering a public offering for Fannie Mae and Freddie Mac, a move that could be implemented this year.

Why Adobe Shares Are Trading Higher By Over 4%; Here Are 20 Stocks Moving Premarket - Addex Therapeutics (NASDAQ:ADXN), Adobe (NASDAQ:ADBE) - Benzinga

Facebook's $725 Million Privacy Settlement Payouts Revealed: Users To Receive Between $4.89 And $38.36 As Payments Roll Out - Meta Platforms (NASDAQ:META) - Benzinga

Meta has begun distributing payments from its $725 million Facebook privacy settlement, with users receiving between $4.89 and $38.36.

Tesla Engineer Slams Elon Musk In Farewell Post, Questions CEO's Leadership: 'Elon Has Dealt Huge Damage...' - Tesla (NASDAQ:TSLA) - Benzinga

Tesla engineer slams Elon Musk's leadership, accusing him of lying and manipulating public discourse, as well as his political activities.

3 Communication Services Stocks Show Improving Valuations - Iridium Communications (NASDAQ:IRDM) - Benzinga

Three undervalued Communication Services stocks show notable week-on-week improvements in value rankings, signaling stronger market appeal.

Wearable Devices Surges 18% After Hours Following 978% Intraday Spike As Patent Win, Mudra Sales And Military Projects Spark Frenzy - Wearable Devices (NASDAQ:WLDS) - Benzinga

Wearable Devices Ltd. shares jumped 410% during regular trading and climbed an additional 18% in after-hours trading following a patent announcement and strong commercial growth.

65-Year-Old Retiree-To-Be Tackles $137,000 Debt Using Ramsey's Baby Steps, Proves It's Never Too Late To Rebuild Finances - Benzinga

Couple starts from scratch with $137,000 debt, minimal savings, following Dave Ramsey's advice leads to becoming debt-free.

Tech Stocks Top 2000 Dot-Com Bubble Peak, Now Dominate 37% Of US Market As Nvidia, Meta And Alphabet Lead 5-Year Mag 7 Rally - Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) - Benzinga

Tech stocks now account for a record 37% of the U.S. market, surpassing the dot-com peak, as Nvidia, Meta, and Alphabet lead the Magnificent 7's five-year rally that has made technology the driving force of Wall Street.

Kroger, Adobe And 3 Stocks To Watch Heading Into Thursday - Kroger (NYSE:KR) - Benzinga

US stock futures up, Kroger, Aviat, RH, Oxford, Adobe expected to report earnings. Oxford raises FY25 EPS guidance.

S&P 500 Settles At Record High After Inflation Data: Investor Sentiment Declines, Fear & Greed Index Remains In 'Neutral' Zone - Chewy (NYSE:CHWY) - Benzinga

Market sentiment declines as Dow Jones falls but S&P 500 hits new highs. PPI slips, AI stocks rally, Chewy Inc. shares drop 17%.

Pop Culture Stock Skyrockets After $33 Million Bitcoin Investment, Web3 Push - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC) - Benzinga

Pop Culture Group Co Ltd. (NASDAQ:CPOP) shares retraced after-hours on Wednesday following a double-digit rally in the regular trading session.

'DEFCON 3,' Says Lawrence McDonald: Warns Return Of Student Loans Could Spark Subprime Meltdown - Navient (NASDAQ:NAVI), SLM (NASDAQ:SLM) - Benzinga

Lawrence McDonald, is raising the alarm to "Defcon 3" as systemic risk indicators highlight rising stress levels in subprime credit markets.

RH Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts - RH (NYSE:RH) - Benzinga

Apple Design Chief Calls iPhone 17 Air A Dream Realized As The Thinnest iPhone Ever Forces Buyers To Choose Between Style And Performanc - Samsung Electronics Co (OTC:SSNLF), Apple (NASDAQ:AAPL) - Benzinga

Apple unveiled the ultra-slim iPhone 17 Air, a 5.6mm device executives call a "dream realized," positioning it as a stylish alternative to the Pro lineup while maintaining global smartphone dominance and strong financial performance.

Small Caps Flash Bullish Trifecta: Accelerating Earnings, Attractive Valuations, Impending Rate Cuts Signal Potential Rally - iShares Russell 2000 ETF (ARCA:IWM) - Benzinga

Small caps show rally potential with accelerating earnings, low valuations, and expected Fed rate cuts. Explore the bullish case for IWM.

Novo Nordisk To Cut 9,000 Jobs As Competition From Eli Lilly Heats Up: Analyst Calls Move ‘Tough, Natural...Very Necessary’ - Novo Nordisk (NYSE:NVO), Eli Lilly (NYSE:LLY) - Benzinga

Novo Nordisk (NYSE: NVO) has announced a significant restructuring plan that will see the company cut 9,000 jobs, representing 11.5% of its workforce. The decision comes as the pharmaceutical giant faces mounting pressure from U.S. competitor Eli Lilly (NYSE: LLY).

Earnings Scheduled For September 10, 2025 - Amber International (NASDAQ:AMBR), Alliance Entertainment (NASDAQ:AENT) - Benzinga

Klarna Raises $1.37 Billion In US IPO, Sets Stage For Fintech Listings Revival: Oversubscribed 25x, But Valuation Slumps 66% From 2021 Peak - Benzinga

Buy-now, pay-later firm Klarna raised $1.37 billion in its U.S. initial public offering on Tuesday, pricing shares above the targeted range.

Dave Ramsey Urges Parents To Stop Enabling Adult Children's Financial Struggles, Warns Guilt-Trip Tactics Are Fueling Money Mismanagement - Benzinga

Parents should stop bailing out adult children's poor money habits. Dave Ramsey advises setting boundaries and encouraging responsibility.

US Stocks Settle At Record Highs: Investor Sentiment Improves, Fear & Greed Index Remains In 'Neutral' Zone - UnitedHealth Group (NYSE:UNH) - Benzinga

U.S. stocks closed at record highs on Tuesday. CNN Fear & Greed index improved but remained neutral. Dow, S&P 500, and Nasdaq saw gains.

Palantir CEO Alex Karp Denies Spying On Americans, Says Firm Has 'Worst' Tech To Abuse Civil Liberties - (PLTR) - Benzinga

Palantir CEO Alex Karp denied claims the company spies on Americans, stressing its software is built to protect civil liberties.

3 Real Estate Stocks Flash Strong Momentum Signals As Fed Is Expected To Cut Rates - Alset (NASDAQ:AEI) - Benzinga

3 real estate stocks show strong momentum gains as Fed rate cut looms: AEI, OPAD, and PGRE join top percentile rankings this week.

Ethereum Co-Founder Charles Hoskinson Sees 'Mag 7' Giants Like Amazon, Google As Next 'King Makers' In Crypto - Benzinga

Cardano (CRYPTO: ADA) founder Charles Hoskinson said in an interview aired Tuesday that the “Magnificent Seven” tech giants could drive cryptocurrency’s next phase of growth.

Jim Cramer Says Oracle's $455 Billion Backlog Is Because Of Stargate Project: 'Who Else Would Be Placing Those Orders' - Oracle (NYSE:ORCL) - Benzinga

Jim Cramer attributes Oracle's monumental $455 billion backlog to the 'Stargate' AI infrastructure project, questioning the 359% surge.

Vivek Ramaswamy-Backed Strive, Asset Entities Get Shareholder Approval To Merge, Launch $1.5 Billion Public Bitcoin Treasury Company - Asset Entities (NASDAQ:ASST) - Benzinga

Asset Entities Inc. (NASDAQ:ASST) shareholders approved a reverse merger with Vivek Ramaswamy-backed Strive Enterprises, creating what executives call a leading public Bitcoin (CRYPTO: BTC)