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A new biography on Elon Musk sheds light on the billionaire entrepreneur&#8217;s Icarus moment. Hubris Maximus, by Washington Post technology reporter Faiz Siddiqui, uncovers &#8220;The Shattering of Elon Musk&#8221; across three distinct periods in recent years.
What Happened: On Wednesday, Siddiqui offered a brief glimpse of his upcoming book on Musk, discussing his opinions on CNBC&#8217;s &#8220;Squawk Box.&#8221;
Siddiqui says that his book depicts the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO in three distinct phases, starting with the controversial <a href="https://www.benzinga.com/news/23/01/30588579/elon-musk-tweets-funding-secured-in-2018-how-much-would-1-000-in-tesla-stock-be-worth-now">&#8220;funding secured&#8221; tweet</a> in 2018, which prompted a Securities and Exchange Commission investigation, followed by the COVID-19 era, and then the acquisition of Twitter, or as it&#8217;s now called, X.
See More: <a href="https://www.benzinga.com/personal-finance/25/04/44965461/elon-musks-ex-wife-jumped-into-a-random-thread-to-answer-what-it-takes-to-be-a-billionaire-her-message-the-world-doesnt-care-what-you-want">Elon Musk&#8217;s Ex-Wife Jumped Into a Random Thread To Answer What It Takes To Be a Billionaire — Her Message: The World Doesn&#8217;t Care What You Want</a>
The book describes a pattern that Siddiqui notices with Musk, which often involves a big event, such as the acquisition of Twitter, resulting in public backlash, followed by a quiet period, and then reinvention, with Musk moving on to something else.
According to Siddiqui, his book depicts several instances of individuals who &#8220;fiercely&#8221; and &#8220;devotedly&#8221; believed in Musk&#8217;s promises, and while they still support his goals, they were &#8220;disappointed in the man.&#8221;
Unlike Icarus, the author doesn&#8217;t believe that Musk has, or is going to, crash and burn. What&#8217;s &#8220;shattered&#8221; is essentially the &#8220;veneer on Elon,&#8221; Siddiqui says. &#8220;Elon was unimpeachably our Tony Stark,&#8221; he says, but he doesn&#8217;t think that&#8217;s true anymore, thanks to the tech mogul&#8217;s &#8220;Hubris,&#8221; or exaggerated pride. 
Why It Matters: Recently, Musk&#8217;s behavior and <a href="https://benzinga.com/general/health-care/25/01/42935746/is-elon-musks-mental-health-a-cause-for-concern-biographer-thinks-so">mental health issues</a> came under scrutiny when his biographer, Seth Abramson, voiced his fears.
Musk himself has <a href="https://www.benzinga.com/general/biotech/24/03/37797951/elon-musk-on-ketamine-and-investors-value-if-there-is-something-im-taking-i-should-keep-taking-it">acknowledged and defended</a> his use of prescription Ketamine to treat occasional depressive episodes, adding that the drug has been beneficial for investors in his companies.
Back in 2017, when asked if he was bipolar by a user on Twitter, Musk replied, &#8220;Yeah,&#8221; before adding, &#8220;Maybe not medically [though].&#8221; Around the same time, he tweeted about experiencing &#8220;greater highs, terrible lows, and unrelenting stress,&#8221; hinting at bipolar disorder.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The reality is great highs, terrible lows and unrelenting stress. Don&#39;t think people want to hear about the last two.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/891710778205626368?ref_src=twsrc%5Etfw">July 30, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Despite recent turbulence, many investors and analysts continue to express confidence in Elon Musk's leadership and long-term vision. 
On Wednesday, <a href="https://www.benzinga.com/25/04/44955303/tesla-stock-is-ripping-higher-wednesday-whats-driving-the-action">Tesla shares rallied</a> after Musk announced he would scale back his involvement in the Department of Government Efficiency starting in May, a market reaction that came in spite of the company's weak first-quarter results.
Analyst Dan Ives of Wedbush Securities <a href="https://www.benzinga.com/25/04/44945402/wedbushs-dan-ives-raises-teslas-price-target-to-350-as-musk-promises-to-significantly-reduce-doge-time">raised his target</a> for Tesla to $350, a 40% upside from current levels, merely on news of Musk&#8217;s return as a full-time CEO. This comes despite a range of challenges and headwinds now facing the EV giant. This &#8220;removes the black clouds over Tesla,&#8221; Ives said, as he will be &#8220;laser-focused&#8221; on Tesla again. 
Price Action: Tesla shares rallied 5.37% on Wednesday, following the company&#8217;s much-anticipated first quarter earnings, which was released on Tuesday.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="139" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1-1024x139.png" alt="" class="wp-image-885620" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1-1024x139.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1-1536x208.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24011533/Screenshot-2025-04-23-at-1.16.03-PM-1.png 1592w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
According to Benzinga Edge Stock Rankings, Tesla scores well across most metrics besides value. The price trend, however, remains unfavorable in the short, medium, and long term. For more such insights, sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge</a> today!
Photo Courtesy: Shutterstock.com
Read More: <a href="https://www.benzinga.com/news/global/25/04/44967548/teslas-energy-division-shines-but-etf-risks-mount-amid-broader-challenges">Tesla&#8217;s Energy Division Shines, But ETF Risks Mount Amid Broader Challenges</a>

News

TSLA

Elon Musk Was Our Tony Stark Until He Wasn't: Tesla CEO's Icarus Moment Chronicled In New Book

Indivior (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) reported quarterly earnings of $0.41 per share which beat the analyst consensus estimate of $0.24 by 70.83 percent. This is a 10.81 percent increase over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $266.00 million which beat the analyst consensus estimate of $262.35 million by 1.39 percent. This is a 6.34 percent decrease over sales of $284.00 million the same period last year.

Earnings

Earnings Beats

INDV

Indivior Q1 Adj. EPS $0.41 Beats $0.24 Estimate, Sales $266.00M Beat $262.35M Estimate

The 3iQ Solana Staking ETF (SOLQ.U) has logged impressive gains since its debut a week ago, with Cathie Wood-led Ark Invest emerging as a major buyer.
What happened: The exchange-traded fund exposes investors to the price moves of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), the sixth-largest cryptocurrency by market capitalization, while also generating passive rewards through staking.
The investment vehicle began trading on the Toronto Stock Exchange on April 16 and has since gained around 18% in value.&nbsp;
The ETF has <a href="https://www.benzinga.com/25/04/44880757/cathie-woods-pours-another-4-95-million-into-solana-staking-etf-dumps-bitcoin-etf-again">drawn the interest of Ark</a>, the asset management firm led by experienced investor Wood.
Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>) holds about 482,680 shares of the ETF, amounting to a stake worth $5.43 million, according to Ark's latest reported holdings.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44891685/gary-black-shares-polymarket-data-says-trump-tariffs-have-pushed-odds-of-2025-recession-to-57">Gary Black Shares Polymarket Data, Says Trump Tariffs Have Pushed Odds Of 2025 Recession To 57%</a>
Notably, the underlying asset SOL has also surged, gaining 13% in the last seven days.&nbsp;The Open Interest has surged 20% over the week to $5.63 billion, <a href="https://www.coinglass.com/BitcoinOpenInterest">according</a> to Coinglass.
While U.S. regulators&nbsp;<a href="https://www.benzinga.com/25/04/44850735/solana-price-falls-but-holds-key-support-as-canadian-etf-approval-institutional-buying-offer-support" target="_blank" rel="noreferrer noopener">have yet to approve any Solana ETFs</a>, asset managers including&nbsp;VanEck,&nbsp;Bitwise, and&nbsp;Grayscale&nbsp;have filed applications.&nbsp; The odds of their approval in 2025 <a href="https://polymarket.com/event/solana-etf-approved-in-2025">stood </a>at 73% on Polymarket, a cryptocurrency-based betting platform.
Price Action: At the time of writing, SOL was exchanging hands at $148.78, down 1.52% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the cryptocurrency has fallen 21.38%. Shares of the Solana Staking ETF closed 4.17% higher at $11.73 during Wednesday&#8217;s trading session.
Meanwhile, the ARKF ETF exhibited a high momentum score as of this writing. Visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to check out how other Ark ETFs perform on this metric.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="722" height="198" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24012604/Screenshot-2025-04-24-105547.png" alt="" class="wp-image-885630" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24012604/Screenshot-2025-04-24-105547.png 722w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/24012604/Screenshot-2025-04-24-105547-300x82.png 300w" sizes="(max-width: 722px) 100vw, 722px" /></figure>
Photo: Lee Wa Da/Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44890965/shiba-inu-team-issues-major-anti-scam-alert-heres-what-you-need-to-know">Shiba Inu Team Issues Major Anti-Scam Alert: Here&#8217;s What You Need To Know</a></li>
</ul>

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

Cryptocurrency

Markets

$SOL

ARKF

Solana Staking ETF Surges 18% In Debut Week—Here's How Much Cathie Wood's Ark Invest Has Parked In It

<ul>
<li>Investment is in addition to the ongoing partnership as shared previously, including continuing the development of BCMA targeting ANKET&#xAE; program in autoimmune indications, and more</li>
</ul>

IPHA

Innate Pharma Confirms €15M Capital Increase Backed By Sanofi To Advance ANKET® Autoimmune Pipeline

Regarding the tariff situation, there could be some short-term disruption. We will continue to utilize the flexibility of our global manufacturing network to minimize impact of the evolving tariff landscape. Based on what we see today, we currently expect a EUR 20 to 30 million impact to our comparable operating profit in the second quarter from the current tariffs. Given the lack of visibility, we have not taken an assumption related to tariffs in the second half of 2025.

Nokia Stated That Tariffs May Cut Q2 Comparable Operating Profit By €20M–€30M; No Assumptions Made For H2 2025 Due To Ongoing Uncertainty

Only 15 percent of Americans, ages 18 to 29, think the nation is headed the right way, deepening what researchers call a generational crisis of confidence.
What Happened: The <a href="https://iop.harvard.edu/youth-poll/50th-edition-spring-2025">spring</a> Harvard Youth Poll of 2,096 respondents, aged between 18 and 29 years, found 51 percent believe the country is on the wrong track and 31 percent are unsure. Just 3 percent declined to answer. Trust in Washington is equally sparse, with only 19 percent saying the federal government "does the right thing" most of the time, while fewer than one in three trust Congress, the president, or the Supreme Court.
President Joe Biden still fares better than his successor on the question of who presided over sunnier times. 41 percent say the nation was better off under Biden, compared with 25 percent for former president-turned-incumbent Donald Trump.
Trump's approval rating among young people stands at 31 percent, virtually unchanged from the same point in his first term. Trust in congressional Democrats has tumbled to 23 percent, down from 42 percent in early 2019.
See also: <a href="https://www.benzinga.com/markets/equities/25/04/44970416/scott-bessents-china-de-escalation-scoop-delivered-to-wall-street-early-at-closed-door-event-2-2-trillion-in-gains-later-questions-arise-if-retail-investors-were">Scott Bessent&#8217;s China &#8216;De-Escalation&#8217; Scoop Delivered To Wall Street Early At Closed-Door Event — $2.2 Trillion In Gains Later Questions Arise If Retail Investors Were &#8216;Cheated&#8217;</a>
Pollsters tested nine items from Trump's 2025 agenda; none topped 35 percent support. The most popular, creating a <a href="https://www.benzinga.com/startups/24/11/42069236/trump-tasked-elon-musk-to-oversee-government-efficiency-heres-how-musk-has-streamlined-costs-at-his-own-companies">Department of Government Efficiency</a>, drew barely a third of young Americans. Tariffs, abolishing the Education Department, and pardons for Jan. 6 rioters each mustered backing from two in 10 or fewer.
Why It Matters: Data from the Harvard Youth Poll coincides with the release of a new Reuters/Ipsos survey, which finds approval of Trump's handling of the economy and inflation has <a href="https://www.benzinga.com/markets/25/04/44948841/trump-economic-approval-rating-drops-to-37-as-market-selloff-erodes-public-support-poll">slid to 37 percent</a>, down from 42 percent recorded just after his Jan. 20 inauguration. Together, the polls paint a picture of mounting public unease as Trump nears his 100-day mark.
Other gauges echo the turbulence. <a href="https://www.benzinga.com/news/25/04/44890428/trumps-gallup-approval-stands-at-45-topping-same-point-in-first-presidency-but-hes-down-16-in-economist-survey">Gallup</a> put Trump's overall approval at 45 percent in April — up from 41 percent at the same point in his first term — while an Economist/YouGov survey reported a 16-point plunge since January. An <a href="https://www.benzinga.com/news/global/25/03/44183107/trumps-approval-rating-48-voters-disapprove-of-handling-of-russia-ukraine-war-55-think-world-war-to-happen">Emerson College poll</a> in March showed a steadier 49 percent rating, even as opinions split over his handling of the Russia-Ukraine war. However, the latest Reuters/Ipsos figures suggest a sustained downward trend tied to economic anxieties and jittery financial markets.
Photo Courtesy: Joshua Sukoff on Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/equities/25/04/44970516/boeing-adjusts-strategy-amid-trump-tariff-fallout-ceo-kelly-ortberg-says-wont-build-aircraft-for-customers-who-will-not-take-them-as-china-halts-deliveries">Boeing Adjusts Strategy Amid Trump Tariff Fallout, CEO Kelly Ortberg Says Won&#8217;t &#8216;Build Aircraft For Customers Who Will Not Take Them&#8217; As China Halts Deliveries</a>

Government

Politics

Events

Trump Fails To Impress America's Young, Shows Poll As They Still Favor Biden — Only 15% Think US On Right Track

Guidance confirmed&nbsp;
<ul>
<li>In 2025, sales are anticipated to grow by a mid-to-high single-digit percentage at CER5 . Sanofi confirms the expectation of a strong rebound in business EPS with growth at a low double-digit percentage at CER (before share buyback)6&nbsp;</li>
<li>Sanofi intends to complete a share buyback program in 2025 of €5 billion of which 72% was already repurchased</li>
</ul>

Guidance

Sanofi Reaffirms 2025 Guidance: Sales To Grow Mid-To-High Single Digits (CER), Business EPS To Rise Low Double Digits (CER)

<ul>
<li>Dassault Systèmes' 3DEXPERIENCE platform will be used across Airbus, company-wide, for all future generations of civil and military aircraft and helicopters</li>
<li>More than 20,000 users from every business area and the value chain will collaborate and use Dassault Systèmes' virtual twins to improve efficiency, shorten development cycles and reduce costs</li>
<li>This is a key milestone in the digital transformation of Airbus' ways of working and the preparation of the next generation of aerospace products</li>
</ul>

DASTY

European Aeronautic Defence And Space Unsponsored

EADSY

Dassault Systèmes And Airbus Expand Strategic Partnership To Power Next-Gen Aircraft With 3DEXPERIENCE Platform

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.94 per share which missed the analyst consensus estimate of $0.95 by 0.95 percent. This is a 2.99 percent decrease over earnings of $0.97 per share from the same period last year. The company reported quarterly sales of $10.41 billion which beat the analyst consensus estimate of $9.77 billion by 6.51 percent. This is a 8.43 percent decrease over sales of $11.36 billion the same period last year.

Earnings Misses

Sanofi Q1 Adj. EPS $0.94 Misses $0.95 Estimate, Sales $10.41B Beat $9.77B Estimate

Treasury Secretary Scott Bessent voiced support for fossil fuel development in emerging economies, criticizing the push for renewables-only energy solutions as unrealistic for countries facing basic economic challenges.
What Happened: &#8220;Energy abundance sparks economic abundance,&#8221; Bessent wrote Wednesday on X. &#8220;Developing countries can&#8217;t afford the luxury belief that all energy must be renewable energy.&#8221;
Speaking at the Institute of International Finance Global Outlook Forum during the IMF World Bank Spring Meetings, Bessent emphasized that people in developing nations are &#8220;simply trying to put food on the table—not virtue signal to their friends and colleagues.&#8221;
Bessent called for an &#8220;all-of-the-above approach&#8221; that includes both fossil fuels and renewables where feasible. He stressed that affordable baseload generation, often from gas and other fossil fuels, must be the priority for developing economies to avoid the intermittency problems seen in countries like South Africa.
<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">Energy abundance sparks economic abundance. That's why we must pursue an all-of-the-above approach to energy development. This means investing in fossil fuels—and where it makes sense, renewables. But here, let me be clear: Developing countries can't afford the luxury belief… <a href="https://t.co/hncuCTWcoB">pic.twitter.com/hncuCTWcoB</a>
&mdash; Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1915095828353708307?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:&nbsp;<a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track" target="_blank" rel="noreferrer noopener">Tesla Q1 Misses Estimates As Tariff Pressures Weigh On Outlook, Lower-Cost EVs Still On Track</a>
Why It Matters: His comments align with President Donald Trump&#8216;s broader pivot toward fossil fuel promotion. While some oil and gas executives have criticized Trump&#8217;s &#8220;drill, baby, drill&#8221; agenda as creating uncertainty, the administration has <a href="https://www.benzinga.com/markets/commodities/25/03/44522105/oil-and-gas-executives-rebuke-trumps-drill-baby-drill-agenda-we-want-more-stability">pushed forward with fossil fuel-friendly policies</a>.
The administration has already moved to cut nearly $10 billion in clean energy funding that would impact projects with Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), <a href="https://www.benzinga.com/markets/25/04/44882365/trumps-energy-department-mulls-cutting-billions-in-clean-energy-funds-threatening-exxon-occidental-projects">according to recent reports</a>.
These policy shifts mark a significant reversal from previous climate-focused agendas. U.S. oil production reached 13.5 million barrels per day in March, up from 12.8 million in December, reflecting the administration&#8217;s <a href="https://www.benzinga.com/markets/commodities/25/04/44903411/trumps-2025-energy-policy-a-resurgence-of-fossil-fuel">emphasis on domestic energy production</a>.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/25/04/44889632/warren-buffetts-son-cashed-in-90k-instead-of-waiting-on-500-million-now-hes-using-buffett-bucks-to-build-his-own-dream-town-in-new-york" target="_blank" rel="noreferrer noopener">Warren Buffett's Son Cashed In $90K Instead of Waiting on $500 Million — Now He's Using ‘Buffett Bucks' to Build His Own Dream Town in New York</a></li>
</ul>
Photo Courtesy: Maxim Elramsisy on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Economics

Scott Bessent Backs Fossil Fuels For Developing Nations, Treasury Secretary Slams Renewables-Only Push As 'Luxury Belief' Amid Trump's 'Drill, Baby, Drill' Agenda

OUTLOOK
The outlook provided below reflects the acquisition of Infinera.
<figure class="table"> 
<table>
<tbody>
<tr>
<td> &nbsp;</td>
<td>Full Year 2025</td>
</tr>
<tr>
<td>Comparable operating profit(1)</td>
<td>EUR 1.9 billion to EUR 2.4 billion</td>
</tr>
<tr>
<td>Free cash flow(1)</td>
<td>50% to 80% conversion from comparable operating profit</td>
</tr>
</tbody>
</table>
</figure>
1Please refer to Alternative performance measures section in Nokia Corporation Interim Report for Q1 2025 for a full explanation of how these terms are defined.
The outlook and all of the underlying outlook assumptions described below are forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section later in this report.
Along with Nokia's official outlook targets provided above, Nokia provides the below additional assumptions that support the group level financial outlook.
<figure class="table"> 
<table>
<tbody>
<tr>
<td> &nbsp;</td>
<td>Full year 2025</td>
<td>Comment</td>
</tr>
<tr>
<td>Group Common and Other operating expenses</td>
<td>approximately EUR 400 million</td>
<td> &nbsp;</td>
</tr>
<tr>
<td>Comparable financial income and expenses</td>
<td>Positive EUR 50 to 150 million</td>
<td> &nbsp;</td>
</tr>
<tr>
<td>Comparable income tax rate</td>
<td>~25%</td>
<td> &nbsp;</td>
</tr>
<tr>
<td>Cash outflows related to income taxes</td>
<td>EUR 500 million (update)</td>
<td>Mainly reflecting evolving regional mix and the inclusion of Infinera</td>
</tr>
<tr>
<td>Capital Expenditures</td>
<td>EUR 650 million (update)</td>
<td>Reflecting the inclusion of Infinera</td>
</tr>
<tr>
<td>Recurring gross cost savings</td>
<td>EUR 400 million</td>
<td>Related to ongoing cost savings program and not including Infinera-related synergies</td>
</tr>
<tr>
<td>Restructuring and associated charges related to cost savings programs</td>
<td>EUR 250 million</td>
<td>Related to ongoing cost savings program and not including Infinera-related synergies</td>
</tr>
<tr>
<td>Restructuring and associated cash outflows</td>
<td>EUR 400 million</td>
<td>Related to ongoing cost savings program and not including Infinera-related synergies</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

Nokia 2025 Guidance: Expects €1.9B–€2.4B Comparable Operating Profit, Free Cash Flow At 50%–80%; Flags Unexpected Charge In Mobile Networks

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google is reportedly telling <a href="https://www.benzinga.com/news/23/06/32773735/after-meta-google-issues-notice-to-bring-employees-back-to-office">some remote employees</a> to adopt a hybrid schedule or accept a voluntary exit package as part of a broader cost-cutting effort.
What Happened: Several teams within Google have notified remote workers that their jobs may be at risk if they do not begin working from the office at least three days per week, <a href="https://www.cnbc.com/2025/04/23/google-teams-are-including-remote-workers-in-their-cuts.html">reported</a> CNBC, citing internal documents.&nbsp;
The directive applies even to employees who were previously approved for fully remote work.
Units including Google Technical Services and People Operations are enforcing stricter in-office requirements. Workers living within 50 miles of a Google office must now follow a hybrid schedule or face job elimination.
In some cases, the company is offering one-time relocation payments to employees who agree to move closer to an office.
Google spokesperson Courtenay Mencini said the policy is being implemented at the team level rather than across the company.&nbsp;
"In-person collaboration is an important part of how we innovate and solve complex problems," she said in a statement to the publication.
Google did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
See Also:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44862552/ford-recalls-nearly-150000-vehicles-over-brake-and-powertrain-issues-nhtsa" target="_blank" rel="noreferrer noopener">Ford Recalls Nearly 150,000 Vehicles Over Brake And Powertrain Issues: NHTSA</a>
Why It&#8217;s Important: The shift follows voluntary exit programs announced earlier this year, affecting groups such as Android, Chrome, Fitbit, and Nest, where remote status was reportedly a factor in restructuring decisions.
Last year in October, during a town hall meeting, Google had assured employees it would not adopt the strict return-to-office policy implemented by Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Meanwhile, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly introduced updated performance management policies, which include a two-year rehire ban for employees <a href="https://www.benzinga.com/25/04/44917739/microsoft-cracks-down-on-underperformers-with-new-policies-including-two-year-rehire-ban-report">deemed underperforming</a>.
Price Action: Alphabet Inc. Class A shares ended Wednesday at $155.35, gaining 2.56%, and edged up another 0.30% in after-hours trading. Class C shares closed at $157.72, up 2.48%, with a further after-hours increase of 0.43%, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Per Benzinga Edge Stock Rankings, Alphabet currently holds a growth score of 64.44%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares</a> to other companies in the sector.
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Photo Courtesy: JHVEPhoto On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Media

AMZN

GOOG

GOOGL

MSFT

Google To Remote Workers — Return To Office 3 Days A Week Or Take A Buyout: Report

Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.04 by 20 percent. This is a 68 percent decrease over earnings of $0.10 per share from the same period last year. The company reported quarterly sales of $4.62 billion which beat the analyst consensus estimate of $4.41 billion by 4.64 percent. This is a 8.94 percent decrease over sales of $5.07 billion the same period last year.

Nokia Q1 Adj. EPS $0.03 Misses $0.04 Estimate, Sales $4.62B Beat $4.41B Estimate

q2Business Outlook
ST's guidance, at the mid-point, for the 2025 second quarter is:
<ul>
<li>Net revenues are expected to be $2.71 billion, an increase of 7.7% sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of 33.4%, plus or minus 200 basis points.</li>
<li>This outlook is based on an assumed effective currency exchange rate of approximately $1.08 = €1.00 for the 2025 second quarter and includes the impact of existing hedging contracts.</li>
<li>The second quarter will close on June 28, 2025.</li>
</ul>
This business outlook does not include any impact for potential further changes to global trade tariffs compared to the current situation.

STMicroelectronics Q2 Outlook: Expects Revenue Of $2.71B Vs. $2.616B Est.; Sees Gross Margin Of 33.4%

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $0.04 by 50 percent. This is a 88.89 percent decrease over earnings of $0.54 per share from the same period last year. The company reported quarterly sales of $2.52 billion which beat the analyst consensus estimate of $2.51 billion by 0.26 percent. This is a 27.36 percent decrease over sales of $3.46 billion the same period last year.

STMicroelectronics Q1 EPS $0.06 Beats $0.04 Estimate, Sales $2.52B Beat $2.51B Estimate

Leading Canadian cryptocurrency trading platform, Ndax,&nbsp;and the National Hockey League&nbsp;announced a major partnership Wednesday for&nbsp;the 2025 Stanley Cup Playoffs
What Happened: Ndax was named the official crypto trading platform of the NHL, according to a press release
Under the terms of the agreement, Ndax will gain brand exposure&nbsp;during the 2025 Stanley Cup&nbsp;Playoffs, with its logo featured for all Canadian playoff games. The logo will be displayed&nbsp;on the NHL's Digital&nbsp;Enhanced Dasherboards during all&nbsp;national Stanley Cup Playoffs broadcasts&nbsp;in Canada.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44959727/trump-token-price-explodes-60-following-announcement-of-private-dinner-with-donald-trump" target="_blank" rel="noreferrer noopener">TRUMP Token Price Explodes 60% Following Announcement Of Private Dinner With Donald Trump </a>
The collaboration also marks the launch of Ndax ICE, a free-to-play daily NHL prediction game. The mobile-based game will allow users to predict the winners of the games and earn prizes such as tickets to the Stanley Cup Playoffs, Stanley Cup Final, and cryptocurrency rewards of up to CA$5,000 ($3604.43) in the asset of their choice.
Why It Matters: This partnership represented a significant milestone in the integration of cryptocurrency into mainstream sports.
Ndax, a premier cryptocurrency trading platform in Canada, allows users to trade various cryptocurrencies, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). 
The NHL is one of the <a href="https://www.benzinga.com/topic/nhl">major professional sports leagues</a> in the U.S. and Canada. Following the conclusion of the NHL&#8217;s regular season,&nbsp;16 teams advance to the&nbsp;Stanley Cup playoffs, a four-round tournament that runs into June to determine the league champion. This year, five Canadian teams have qualified for the playoffs.
Read Next:&nbsp;
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44925491/5-000-calling-will-pectra-lift-ethereum-to-its-next-all-time-high" target="_blank" rel="noreferrer noopener">$5,000 Calling: Will Pectra Lift Ethereum To Its Next All-time High?</a></li>
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Photo Courtesy: Debby Wong on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Sports

$BTC

$ETH

NHL And Canada-Based Ndax Announce Partnership For 2025 Stanley Cup Playoffs, Launches Prediction Game That Gives Users Chance To Win Finals Ticket And Crypto

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is implementing a strategic pivot in response to China&#8217;s halt of aircraft deliveries amid escalating tariff tensions, according to statements made during the company&#8217;s <a href="https://www.benzinga.com/25/04/44948499/boeing-stock-jumps-after-q1-2025-results-production-expansion-plans-for-737-and-787">first quarter of 2025 earnings call</a>.
What Happened: CEO Kelly Ortberg confirmed that Chinese customers have indicated they will not take delivery of Boeing aircraft following China&#8217;s implementation of 125% retaliatory tariffs on U.S.-made goods, a response to President Donald Trump&#8216;s 145% tariffs on Chinese imports.
&#8220;Due to the tariffs, many of our customers in China have indicated they will not take delivery,&#8221; Ortberg said during the earnings call. &#8220;We&#8217;re not going to continue to build aircraft for customers who will not take them.&#8221;
Boeing has approximately 50 China deliveries planned for the remainder of 2025, including 41 aircraft already built or in production. The company is actively assessing options to remarket these planes to other customers, with Ortberg noting strong demand elsewhere.
&#8220;There&#8217;s plenty of customers out there looking for the Max aircraft,&#8221; <a href="https://www.benzinga.com/25/04/44960098/boeing-ceo-says-china-stopped-taking-airplane-deliveries-as-trade-war-rages">Ortberg told CNBC</a>. &#8220;I&#8217;m not going to let this derail the recovery of our company.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track">Tesla Q1 Misses Estimates As Tariff Pressures Weigh On Outlook, Lower-Cost EVs Still On Track</a>
Why It Matters: Despite these challenges, Boeing reported better-than-expected first-quarter results with revenue increasing 18% year-over-year to $19.5 billion. The company delivered 130 aircraft in the quarter, exceeding internal projections, and reported a core operating margin recovery to 1% from -2.3% a year ago.
The company expects to largely offset any potential cash flow impact from the China situation, maintaining its cash usage projection of $4-5 billion for the year.
&#8220;We had a really good start to the year operationally, which we believe puts us in a position to largely offset any potential cash flow impact of China deliveries,&#8221; said CFO Brian West.
Price Action: Boeing Co. closed at $172.37 on Thursday, up 6.06%. After hours, it slipped slightly to $172.36. Year to date, the stock is up 0.29%.
Boeing shows weak growth and valuation metrics, according to Benzinga Edge Stock Rankings. While the stock has positive momentum, BA continues to exhibit a negative price trend in the short to long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Sign up to learn more.</a>
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Photo Courtesy: Andreas Zeitler On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Boeing Adjusts Strategy Amid Trump Tariff Fallout, CEO Kelly Ortberg Says Won't 'Build Aircraft For Customers Who Will Not Take Them' As China Halts Deliveries

China's reported breakthrough in producing 5-nanometer <a href="https://www.benzinga.com/markets/eurozone/25/03/44253751/asml-boosts-ai-chip-rd-in-europe-amid-us-sanctions-china-slowdown-and-subsidy-uncertainty">chips without extreme ultraviolet</a> (EUV) lithography has sparked warnings from tech leaders.
What Happened: On Wednesday, William Huo, Intel Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) first chief representative in Beijing, took to X, formerly Twitter, and highlighted the report that China's Semiconductor Manufacturing International Corporation (SMIC) had manufactured 5 nm-class chips without using EUV tools.
"BREAKING: China made 5nm chips without EUV. Let that sink in," Huo wrote. "No ASML. No Nikon. Just brute-force DUV, clever engineering, and sheer industrial will."
He credited the milestone to advanced deep ultraviolet (DUV) techniques and innovations like Self-Aligned Quadruple Patterning (SAQP), calling the result "Moore's Law by force, not finesse."
See Also: <a href="https://www.benzinga.com/markets/25/04/44891778/nvidia-not-acting-in-us-interests-says-chamath-palihapitiya-questions-how-alibaba-or-deepseek-are-one-step-ahead">Nvidia Not Acting In US Interests, Says Chamath Palihapitiya — Questions, How Alibaba Or DeepSeek Are One Step Ahead</a>
Huo said that these chips are symbolic of China's resilience against U.S. sanctions and its emergence as a self-reliant chip powerhouse.
Responding to Huo's thread on the platform, venture capitalist Chamath Palihapitiya added his own stark assessment, saying, "There is one, and only one, battle that must be won&#8230; Technical Superiority."&nbsp;
"Countries who have technical superiority will have military and economic superiority over those that don't&#8230; China is formidable and neck and neck with America, but America can win if we focus and prioritize."
The "SPAC King" warned that America could lose its edge if it continues to favor bureaucracy and red tape over actual innovation and scaling.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sitting here, in 2025, its important to recognize that there is one, and only one, battle that must be won when thinking in terms of the sovereignty and supremacy of one nation-state over another: Technical Superiority Countries who have technical superiority will have military… <a href="https://t.co/yNPCY5c0rD">https://t.co/yNPCY5c0rD</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1915170302444855460?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It's Important: Last month, Wccftech cited industry insiders and <a href="https://wccftech.com/smic-5nm-development-completed-in-2025/">reported</a> that SMIC is expected to complete its 5nm chip development by 2025.
However, the manufacturing cost of these chips could be up to 50% higher than that of Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), largely due to SMIC&#8217;s inability to access advanced EUV tools.
As per the report, SMIC&#8217;s yield rates for 5nm wafers are roughly one-third of what TSMC achieves on comparable technology. Despite these challenges, Huawei Technologies is said to be planning to incorporate SMIC's 5nm chips into its Ascend 910C AI processors.
This is part of broader efforts to reduce dependence on Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and boost domestic capabilities.
While reporting its first-quarter financial results, TSMC said, &#8220;Moving into second quarter 2025, we expect our business to be supported by strong demand for our industry-leading 3nm and 5nm technologies,&#8221; referring to the continuing demand for these chips.
Earlier this month, the White House enacted a permanent export restriction on Nvidia's H20 chips to China, a move that the company says could impact its quarterly revenue by <a href="https://www.benzinga.com/news/global/25/04/44828742/nvidia-stock-is-tumbling-after-hours-heres-why">as much as $5.5 billion</a>.
This is part of the U.S. government&#8217;s efforts to bring advanced chip manufacturing back home. A key piece of the puzzle is cutting-edge technology like EUV lithography from Dutch company ASML Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), which is essential for producing smaller, more powerful chips.
Intel earns a growth rating of 3.59% from Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to compare its performance</a> with TSMC, Nvidia, and other leading tech giants.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/INTC"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23231821/Screenshot-2025-04-24-at-8.48.09%E2%80%AFAM.png" alt="" class="wp-image-885545" /></a></figure>
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<li><a href="https://benzinga.com/news/25/04/44735140/most-people-dont-have-the-balls-to-do-it-says-mark-cuban-praising-musk-for-going-all-in-with-his-own-money-f" target="_blank" rel="noreferrer noopener">‘Most People Don't Have The Balls To Do It,' Says Mark Cuban, Praising Musk For Going ‘All In' With His Own Money For His Startups</a></li>
</ul>
Photo Courtesy: Maxx-Studio On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ASML

INTC

NVDA

China's Chip Breakthrough Without ASML Makes Chamath Palihapitiya Take Stock Of Beijing's 'Formidable' Nature: 'America Can Win If…'

Retail investors are raising concerns over U.S. Treasury Secretary Scott Bessent's recent remarks on tariffs and the ongoing trade tensions with China, delivered at a closed-door investor summit hosted by JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>). 
Bessent&#8217;s comments, which sparked a $2.2 trillion surge in the markets, have been criticized by retail traders who say they were shut out of potentially market-moving information.
What Happened: On Wednesday, popular financial newsletter The Kobeissi Letter voiced concerns about fairness in a post on X, referring to Bessent's recent appearance at a private, closed-door investor summit.
The post highlights that the event wasn&#8217;t &#8220;open to the public or media,&#8221; and it was where Bessent first said that he expects a &#8220;de-escalation with China,&#8221; before describing the current trade environment as &#8220;unsustainable for both sides.&#8221; 
See More: <a href="https://www.benzinga.com/tech/25/04/44970168/elizabeth-warren-slams-tim-cook-over-alleged-backdoor-deal-with-trump-to-shield-apple-from-crushing-china-tariffs-creates-the-appearance-of-impropriety">Elizabeth Warren Slams Tim Cook Over Alleged Backdoor Deal With Trump To Shield Apple From Crushing China Tariffs: &#8216;Creates The Appearance Of Impropriety&#8217;</a>
These remarks were made at 12:00 PM EST, according to the post, following which the markets witnessed a surge in volumes, with the S&amp;P 500 Futures rallying +5%, resulting in a total gain of $2.2 trillion in market cap, while retail traders and investors were still kept in the dark.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Retail investors were just cheated: Yesterday at 12:00 PM ET, US Treasury Secretary Bessent said he sees &quot;de-escalation with China&quot; and the current situation is &quot;unsustainable.&quot; These comments were provided at a CLOSED-DOOR investor summit hosted by JP Morgan. This summit was… <a href="https://t.co/gQGKVBYhi4">pic.twitter.com/gQGKVBYhi4</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1915007666604175549?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
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It was only at 5:18 PM EST that President Donald Trump said tariffs on China &#8220;will not be as high as 145%,&#8221; which finally brought retail into the loop.
&#8220;Investors at the JP Morgan event were able to front-run these headlines,&#8221; it says, before asking, &#8220;How is this fair for retail investors?&#8221;
Other X users have raised similar concerns, with Cheddar Pool, a service that tracks options order flows, sharing insights on an S&amp;P 500 &#8220;Whale&#8221; who added $2.2 million in 1DTE (one day to expiry options) at 3:21 PM EST on Tuesday, while asking &#8220;Bessent, was that you?&#8221;
According to the post, that whale is now up 460%, with gains of over $10 million, within just a day.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bessent, was that you? &#x1f914; This <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> whale is now up +460% in ONE DAY +$10,000,000!!! <a href="https://t.co/l603kEVQhK">https://t.co/l603kEVQhK</a>
&mdash; Cheddar Flow (@CheddarFlow) <a href="https://twitter.com/CheddarFlow/status/1914715157210497425?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
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<figcaption class="wp-element-caption"> Scott Bessent and the Treasury did not immediately respond to Benzinga&#8217;s request for comments. Why It Matters: There have been growing concerns regarding leaks and insider trading within the current administration, with Scott Galloway calling the April 9th tariff pause the &#8220;greatest day of insider trading in history,&#8221; citing the suspicious timing of <a href="https://benzinga.com/news/25/04/44891038/clearly-word-got-out-scott-galloway-says-april-9-will-go-down-as-the-greatest-day-of-insider-trading-in-history">large options trades</a>.</figcaption></figure>
Others, such as Rep. Marjorie Taylor Greene (R-Ga.), part of Trump&#8217;s inner circle, have <a href="https://www.benzinga.com/markets/25/04/44806734/marjorie-taylor-greene-made-large-stock-purchases-ahead-of-trumps-90-day-tariff-pause-hakeem-jeffries-calls-it-problematic">come under scrutiny</a> for making large stock purchases ahead of the 90-day pause on tariffs. 
Rep.&nbsp;Adam Schiff&nbsp;(D-Calif.) and Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.) have outright accused Trump of <a href="https://benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allies-as-markets-surge-after-90-day-tariff-pause-it-sure-looks-like-corruption">manipulating the markets</a> to &#8220;benefit his Wall Street donors.&#8221;
Price Action: The Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) is up 1.6% on Wednesday, followed by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq, up by 2.27%. The SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) is up 1.03%.
Photo courtesy: Maxim Elramsisy / Shutterstock.com
Read More: <a href="https://www.benzinga.com/news/25/04/44969920/its-not-going-to-end-well-former-sec-chair-gensler-says-chinese-are-tough-negotiators-who-believe-they-can-outwait-us-policy-volatility">&#8216;It&#8217;s Not Going To End Well&#8217;—Former SEC Chair Gensler Says Chinese Are &#8216;Tough Negotiators&#8217; Who Believe They Can Outwait US Policy Volatility</a>

SPDR Dow Jones Industrial Average ETF Trust

Scott Bessent's China 'De-Escalation' Scoop Delivered To Wall Street Early At Closed-Door Event — $2.2 Trillion In Gains Later Questions Arise If Retail Investors Were 'Cheated'

A trader missed making millions in profit due to the premature selling of Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) tokens ahead of a bullish announcement on Wednesday.
What Happened:&nbsp; The investor sold all their 630,339 TRUMP, worth $5.48 million, just before the announcement of an exclusive dinner date with President Donald Trump for the token&#8217;s biggest holders, according to Lookonchain.
The trader offloaded the tokens at $8.7 each, making a profit of around $483,000. However, had the trader waited until the announcement,&nbsp;his profit would have been&nbsp;over $4.5 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What a sad story! This guy dumped all 630,339 <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a>($5.48M) just before the <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> dinner news. If he had been more patient, his profit would have been over $4.5M.<a href="https://t.co/mwWGMYi7eH">https://t.co/mwWGMYi7eH</a> <a href="https://t.co/Mgh1ZaT8dQ">pic.twitter.com/Mgh1ZaT8dQ</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1915084361751499178?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
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Meanwhile, frantic trading activity was observed for the high-profile token. A whale investor bought $5 million worth of TRUMP as the price began to rise and sold it all in less than 30 minutes for $5.73 million, netting $731,800.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A whale just spent 5M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 407,467 <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> at $12.27 after the news of the <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> Dinner.<a href="https://t.co/uhuZdkloOD">https://t.co/uhuZdkloOD</a> <a href="https://t.co/3o0XQEDn0x">pic.twitter.com/3o0XQEDn0x</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1915080262758871484?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44962519/floki-surges-32-in-7-days-outpaces-dogecoin-shiba-inu-what-is-going-on" target="_blank" rel="noreferrer noopener">Floki Surges 32% In 7 Days, Outpaces Dogecoin &amp; Shiba Inu: What Is Going On?</a>
Why It Matters:&nbsp;The dinner, <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44959727/trump-token-price-explodes-60-following-announcement-of-private-dinner-with-donald-trump">scheduled for May 22</a>, is to be held at Trump National Golf Club in Washington, D.C., and is limited to the top 220 holders of the TRUMP token. 
The top holders will also be able to attend a VIP reception and tour the White House, as well as receive limited-edition commemorative non-fungible tokens on the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) chain.
The memecoin surged as much as 65% on the news before tapering by late evening. The team behind the token clarified that Trump will be a guest at the event but will not be involved in fundraising or investment solicitation.
Price Action: At the time of writing, TRUMP was exchanging hands at $12.64, up 37% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. It rose to become the fourth-largest meme coin by market capitalization.
Photo Courtesy: Jonah Elkowitz on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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