ETF Series Solutions Aptus Large Cap Enhanced Yield ETF (BATS: DUBS)

에 대한 최신 뉴스 ETF Series Solutions Aptus Large Cap Enhanced Yield ETF (BATS:DUBS)

ETF Series Solutions Aptus Large Cap Enhanced Yield ETF

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The Funds net assets (plus borrowings for investment purposes) will be invested in equity securities of large cap companies. For purposes of such policy, the Fund considers equity securities to include U.S.-listed common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs).

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Bny Mellon Us Large Cap Core Equity Etf

Meta Platforms, Inc.

Aptus Large Cap Enhanced Yield ETF

UBS analyst Doug Harter maintains Trinity Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIN#NASDAQ">TRIN</a>) with a Buy and lowers the price target from $18 to $16.5.

News

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Analyst Ratings

TRIN

UBS Maintains Buy on Trinity Cap, Lowers Price Target to $16.5

BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) announced Thursday that it successfully loaded the first LNG export cargo from its Greater Tortue Ahmeyim (GTA) Phase 1 project, <a target="_blank" href="https://www.benzinga.com/topic/stories-that-matter" rel="noreferrer noopener">located offshore Mauritania and Senegal</a>.
GTA is among the deepest offshore gas developments in Africa, with resources in water depths reaching up to 2,850 metres.&nbsp;&nbsp;
The GTA Phase 1 project is a joint effort involving Kosmos Energy Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) and PETROSEN, alongside bp.
GTA Phase 1 is expected to produce approximately 2.4 million tonnes of LNG annually once fully operational.
The first LNG cargo lifting marks a critical milestone as Kosmos and its partners begin recognizing revenue, signaling the transition into the production <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44857107/kosmos-energy-announces-first-lng-cargo-at-the-greater-tortue-ahmeyim-project-in-mauritania-and-se" rel="noreferrer noopener">and commercial phase of the developmen</a>t.
Notably, the first LNG shipment from the GTA Phase 1 project was successfully transferred to a carrier from the project's floating liquefied natural gas (FLNG) vessel, located about 10 kilometers offshore.
A portion of the gas will also be allocated to support domestic energy markets in both countries as infrastructure becomes available.
The GTA cargo marks BP's third major upstream project start-up in 2025 and is among the first of 10 planned by the end of 2027. This aligns with the company's strategy to expand its upstream oil and gas operations.
Gordon Birrell, EVP of production &amp; operations, said, "This first cargo from Mauritania and Senegal marks a significant new supply for global energy markets. Starting exports from GTA Phase 1 is an important step for BP and our oil and gas business as we celebrate the creation of a new production hub within our global portfolio."
Last week, the company disclosed a new oil discovery at the Far South prospect in the deepwater <a target="_blank" href="https://www.benzinga.com/25/04/44788755/bp-discovers-oil-at-far-south-prospect-in-deepwater-gulf-boosts-upstream-growth-outlook" rel="noreferrer noopener">U.S. off&nbsp;the&nbsp;Louisiana coast</a>.
Investors can gain exposure to the stock via&nbsp;Precidian ETFs Trust BP plc ADRhedged&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/BPH#BATS">BPH</a>) and&nbsp;Texas Capital Texas Oil Index ETF &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>).
Price Action: BP shares are up 3.33% at $28.58 at the last check on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/guidance/25/04/44763712/bp-sees-mixed-q1-outlook-with-flat-oil-prices-weaker-gas-trading-ahead-of-earnings" target="_blank" rel="noreferrer noopener">BP Sees Mixed Q1 Outlook With Flat Oil Prices, Weaker Gas Trading Ahead Of Earnings</a></li>
</ul>
Photo by Tada Images via Shutterstock

OILT

BP, Kosmos Loads First LNG Export From GTA Phase 1, One of Africa's Deepest Gas Projects

Growing crypto adoption and a favorable regulatory outlook have VCs on the hunt for liquidity events.
New figures from DefiLlama show crypto startups raised more than <a href="https://defillama.com/raises">$4.90 billion</a> in the first quarter of this year, up from $3.62 billion in Q4 2024.&nbsp;
While venture capital funding is still <a href="https://www.coinbase.com/institutional/research-insights/research/monthly-outlook/monthly-outlook-apr-2025?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=in_i_m_w_m_m_itr_ema_0_research-insights-ri-reports">well below</a> its 2021-22 peak, the recent uptick follows a banner 2024 for crypto VC firms. Over the last few weeks, a number of blockchain payment and stablecoin startups have pulled big funding rounds.&nbsp;
Now that the SEC is set to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41713222/legal-ambiguity-to-end-crypto-market-awaits-clarity-on-asset-classification">provide clarity</a> on rules governing digital assets, venture capital funds are on the hunt for liquidity events across the crypto ecosystem.&nbsp;
This year they could have at least five IPOs to choose from.
<h1 class="wp-block-heading">Five crypto firms set to go public</h1>
Companies in the spotlight include Animoca Brands, Telegram, Ionic Digital, Kraken, and Circle. One is in motion while the rest could all potentially go public in the coming months.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfWijxkyO73BtMX3c-xW0lFslQCoP4iFxLqJ4J89nHnnpJK1qYLjquFAtHBE_RLoVjZjgEFCEMWlgpBwaQcUGbVuDlBkEysQHI2XGcdMapCKhmx_HSLmWJkaUYlb4YVmn1ZgJvq?key=7gjOWQoElJDvewqlCGVf2GfP" alt="" /></figure>
VC funding in the crypto space as of April 2025 &#x7C; Source: DefiLlama
If they happen, it will mark a decisive turnaround from the funding pall cast by former SEC Chair Gary Gensler, a steadfast crypto-skeptic who triggered a swathe of enforcement actions during his tenure against industry heavyweights like <a href="https://www.benzinga.com/topic/binance">Binance</a> and <a href="https://www.benzinga.com/quote/COIN">Coinbase</a>.
As Bitcoin prepares for its next rise and risk-on sentiment returns, VCs – under mounting pressure to start returning capital to limited partners – may see their chance. These five firms have a fair shot at success:
<h3 class="wp-block-heading">1. Circle</h3>
On April 1st, Coinbase-backed stablecoin issuer Circle ended years of speculation and announced it had <a href="https://www.sec.gov/Archives/edgar/data/1876042/000119312525070481/d737521ds1.htm">filed</a> for an initial public offering with the SEC. The prospectus comes after two years of escalating IPO speculation and lays the groundwork for the firm's long-awaited entry into the public markets.
Reportedly aiming for a $5 billion valuation, the company behind the USDC stablecoin has named JPMorgan Chase and CitiGroup as lead underwriters. Circle will list on the New York Stock Exchange and trade under the CRCL symbol.
Since its early beginnings, Circle has marketed its USDC stablecoin as a regulated and transparent digital currency in a bid to gain market share from rival Tether's USDT. In July of 2024 it became the first stablecoin issuer to achieve compliance with the EU's Markets in Crypto-Assets (MiCA) rulebook.
<h3 class="wp-block-heading">2. Kraken</h3>
In June 2024 it was reported that crypto exchange Kraken <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44217932/crypto-exchange-kraken-sets-sights-on-2025-initial-public-offering">was seeking to raise more than $100 million in pre-IPO funding</a>, despite being involved in a legal spat with regulators over <a href="https://www.sec.gov/newsroom/press-releases/2023-237">accusations</a> that the company "unlawfully" facilitated the trading of crypto asset securities and commingled customer funds.
As of late January 2025, the legal battle between Kraken and the SEC was still running. In a major setback for the crypto exchange, on January 24, 2025, a California federal judge <a href="https://storage.courtlistener.com/recap/gov.uscourts.cand.421113/gov.uscourts.cand.421113.126.0.pdf">dismissed</a> Kraken's defense that crypto transactions conducted on its platform did not fall within the SEC's regulatory purview.
An investor note from Bitwise notes that Kraken has been considering an IPO "since at least 2021.
‘Market conditions have delayed the company's plans but they could be back on the table in 2025.'
<h3 class="wp-block-heading">3. Telegram</h3>
Social media and instant messaging platform Telegram has endeared itself to crypto users by integrating blockchain services and crypto wallets.
Telegram's association with the crypto industry dates back to 2019 when the company launched a public blockchain named Telegram Open Network (TON). Work on the TON blockchain ceased, however, after the <a href="https://www.sec.gov/newsroom/press-releases/2020-146">SEC sued the company for issuing crypto tokens to investors</a>.
TON is currently being developed open-source by its community, but Telegram hasn't abandoned the network. In February 2024, founder Pavel Durov <a href="https://t.me/durov/247">announced</a> that the company would "use TON "exclusively for our revenue-sharing program."
Durov told the <a href="https://www.ft.com/content/8d6ceb0d-4cdb-4165-bdfa-4b95b3e07b2a">Financial Times</a> that Telegram was exploring an IPO in the future "as a means to democratize access to Telegram's value."
<h3 class="wp-block-heading">4. Animoca Brands</h3>
Animoca Brands is a Hong Kong-based web3 investment firm and gaming developer that aims to go public in 2025. Media reports have said the company has been looking at "crypto-friendly" markets such as Hong Kong and the Middle East to launch a potential IPO.
Animoca Brands was listed on the Australian Securities Exchange (ASX) from 2015 to 2020. It was <a href="https://themarketonline.com.au/animoca-brands-asxab1-delisted-from-asx-2020-03-10/">forced to delist</a> in March 2020 after failing to comply with listing rules, such as maintaining continuous disclosures.
According to a <a href="https://www.animocabrands.com/animoca-brands-investor-update-for-the-quarter-ending-on-31-march-2024">quarterly report</a>, the company's business model comprises digital asset advisory services, web3 applications and platforms, and investment management. Animoca also builds web3 and blockchain applications for institutions such as <a href="https://www.animocabrands.com/animoca-brands-and-neom-announce-strategic-partnership-and-investment">NEOM</a> and is working on stablecoins and decentralized physical infrastructure networks (DePIN).
<h3 class="wp-block-heading">5. Ionic Digital</h3>
Ionic Digital is a Bitcoin mining company formed in January 2024 from the reorganization of bankrupt crypto lender Celsius Network.
The newly formed company acquired Celsius' Bitcoin mining assets, and its stock was issued to Celsius' creditors as part of the bankruptcy plan. The plan also required Ionic Digital to become a publicly traded company to provide shareholders with liquidity options. The company plans to list on the Nasdaq Stock Exchange.
In a letter to shareholders on January 14, 2025, Ionic Digital's interim CEO Anthony McKiernan <a href="https://www.ionicdigital.com/press-release">reiterated the company's plan to list publicly</a> and said its financial audit is expected to be completed by the second quarter of 2025.

<h1 class="wp-block-heading">Takeaways</h1>
Analysts at crypto asset manager Bitwise say 2025 is shaping up to &#8216;the year of the crypto IPO,' driven by investor demand, increased retail and institutional adoption, plus a favorable regulatory outlook.
Crypto M&amp;A activity is also on the up. According to a report from Architect Partners, crypto firms inked more than&nbsp;<a href="https://architectpartners.com/wp-content/uploads/2025/04/Q1-2025-Crypto-MA-and-Financing-Report.pdf" target="_blank" rel="noreferrer noopener">60 M&amp;A deals valued at more than $2.2 billion</a> in Q1 2025, ​​a record level.
Among them was Kraken&#8217;s recent $1.5 billion&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44416968/kraken-to-buy-ninjatrader-for-1-5-billion-entering-us-crypto-futures-market-in-2025" target="_blank" rel="noreferrer noopener">acquisition</a>&nbsp;of DeFi futures trading platform NinjaTrader – the "biggest crypto deal yet," noted Architect&#8217;s report. Ripple&nbsp;<a href="https://www.cnbc.com/2025/04/08/crypto-firm-ripple-to-buy-primer-broker-hidden-road-for-1point25-billion.html" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;last week that it had acquired Hidden Road, a prime brokerage, for 1.25 billion.&nbsp;
Several other crypto firms, such as blockchain-powered financial services company Figure, institutional-focused crypto platform Anchorage Digital, and data analytics company Chainalysis, have also been widely tipped to go public in 2025.

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

Cryptocurrency

IPOs

Opinion

5 Blockchain IPOs To Watch In 2025

Thanks to their shared history in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39799850/5-things-you-might-not-know-about-j-d-vance-hillbilly-elegy-author-bitcoin-holder-first-mi">venture capital space</a>, there is some overlap in investments and past company dealings between Peter Thiel and Vice President J.D. Vance.
A Medicare startup that recently raised $75 million at a $1.5 billion valuation counts Thiel and Vance as early investors and former board members, and also has a connection to former Republican presidential candidate and Trump ally Vivek Ramaswamy.
What Happened: Medicare startup Chapter was co-founded by Ramaswamy in 2020 and is one of several companies in the health care <a href="https://www.benzinga.com/general/entertainment/23/07/33449328/vivek-da-vek-ramaswamy-the-2024-presidential-candidate-who-might-just-rap-his-inauguration-">connected to the politician</a> now running for governor of Ohio.
The latest funding round of $75 million values Chapter at $1.5 billion, which comes years after both Thiel and Vance invested in the company.
Private equity company Stripes led the latest investment round, according to <a href="https://techcrunch.com/2025/04/16/chapter-a-medicare-startup-with-links-to-vance-thiel-and-ramaswamy-just-raised-a-round-at-1-5b-valuation/">TechCrunch</a>. Other <a href="https://www.businesswire.com/news/home/20250416329759/en/Chapter-Raises-%2475-Million-Led-by-Stripes-to-Build-the-Future-of-Medicare-and-Retirement-Guidance.">investors </a>in the funding round include XYZ Venture Capital, Susa Ventures, Addition, Narya Capital and Maverick Ventures.
Chapter helps consumers select Medicare health plans by analyzing prescription drug coverage, doctors and hospitals covered and prioritizes client needs over insurer profits, according to the report. This means that some of the plans Chapter recommends have no fees or minimal fees, unlike other firms that recommend plans where the middleman receives the largest commissions.
"Chapter will use the funds to deepen its enterprise partnerships, invest in novel data and technology infrastructure to power smarter, more proactive recommendations for members, and accelerate Chapter's impact on America's seniors," the press release said.
The company said it has seen 4x enrollment growth over the past year.
Read Also: <a href="https://www.benzinga.com/general/politics/24/07/39916075/j-d-vance-venture-capital-background-under-scrutiny-it-never-seemed-like-he-was-even-working-it-">J.D. Vance Venture Capital Background Under Scrutiny: &#8216;It Never Seemed Like He Was Even Working, It Felt Like His Full-Time Job Was The Book&#8217;</a>
MAGA Connections: Chapter is one of several companies with ties to multiple people who are now part of President Donald Trump's administration or donors to his presidential campaigns.
Venture capital firm Naraya, founded by Vance, led the Series A funding round for Chapter in 2020. Vance previously had a seat on Chapter's board <a href="https://www.bloomberg.com/news/articles/2025-04-16/chapter-ai-medicare-broker-raises-75-million-at-1-5-billion-valuation?embedded-checkout=true&amp;sref=TBDibEcD">before </a>stepping down when he ran for Senate in 2021.
Vance's open seat was filled by Thiel, who was also an investor in the company. Thiel was a backer of Narya Capital previously.
While Ramaswamy, Vance, and Thiel have all stepped down from their roles on the board, the company will forever be connected to the three Trump allies.
Vance <a href="https://www.fastcompany.com/91157500/companies-jd-vance-invested-in-as-a-vc">listed </a>Chapter as one of his investments in recent financial disclosures and could still own a stake in the company.
Medicare has become a highly debated political topic, with the Republican Party looking to make potential cuts to Medicare, while some members of Congress have suggested privatizing Medicare.
While Vance is not actively involved with Chapter, his financial stake in the company could be impacted by what the Republican party does to Medicare in the future.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/25/01/43067969/billionaire-vivek-ramaswamy-to-run-for-ohio-governor-replacing-dewine-what-happens-to-trumps-doge-program">Billionaire Vivek Ramaswamy To Run For Ohio Governor, Replacing DeWine: What Happens To Trump&#8217;s DOGE Program?</a></li>
</ul>
Photo: Shutterstock

Health Care

Financing

Politics

Medicare Company Connected To Ramaswamy, Vance And Thiel Now Worth $1.5 Billion: How 'Chapter' Is Changing The Game

UBS analyst Vilas Abraham maintains TriplePoint Venture Gwth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPVG#NYSE">TPVG</a>) with a Neutral and lowers the price target from $7.5 to $6.

TPVG

UBS Maintains Neutral on TriplePoint Venture Gwth, Lowers Price Target to $6

<a href="https://www.wsj.com/economy/central-banking/trump-has-for-months-privately-discussed-firing-fed-chair-powell-628d3d79?mod=breakingnews" title="https://www.wsj.com/economy/central-banking/trump-has-for-months-privately-discussed-firing-fed-chair-powell-628d3d79?mod=breakingnews">https://www.wsj.com/economy/central-banking/trump-has-for-months-privately-discussed-firing-fed-chair-powell-628d3d79?mod=breakingnews</a>

Macro Economic Events

Economics

Federal Reserve

"Trump Has Privately Discussed Firing Fed Chair Jerome Powell For Months, Including In Meetings With Potential Replacement Kevin Warsh" - WSJ

UBS analyst Peter Grom maintains Spectrum Brands Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) with a Buy and lowers the price target from $106 to $76.

UBS Maintains Buy on Spectrum Brands Holdings, Lowers Price Target to $76

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares <a target="_blank" href="https://www.benzinga.com/25/04/44759232/this-walmart-analyst-begins-coverage-on-a-bullish-note-here-are-top-5-initiations-for-friday" rel="noreferrer noopener">are trading higher on Thursday</a>.
The company has reportedly made a pact to open a second office space in <a href="https://www.benzinga.com/insights/analyst-ratings/25/04/44759117/28-analysts-assess-walmart-what-you-need-to-know" target="_blank" rel="noreferrer noopener">Chennai, a city in southern India.</a>
Reuters reports that while the retail behemoth does not operate supermarkets in India yet, it has tech hubs in Indian cities such as Chennai and Bengaluru.&nbsp;
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, Walmart stock has gained over 56% in the past year. Investors can gain exposure to the stock via Vanguard Consumer Staples Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>).
Apart from development plans in India, Walmart marked a major expansion of its logistics footprint on Thursday with the opening of a <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44864979/walmart-opens-new-distribution-center-in-jacksonville-florida" rel="noreferrer noopener">new distribution hub in Jacksonville, Florida.</a>
Also Read: <a target="_blank" href="https://www.benzinga.com/etfs/sector-etfs/25/04/44868472/pillar-of-americas-cyber-security-lost-funding-temporarily-what-investors-should-know-about-cve-program-funding-extension" rel="noreferrer noopener">Pillar Of America&#8217;s Cyber Security Lost Funding Temporarily: What Investors Should Know About CVE Program, Funding Extension</a>
The one-million-square-foot facility is designed to streamline deliveries to Sam's Club locations throughout the Southeast and Puerto Rico.
The warehouse will support 18 Sam's Club stores across Florida, Georgia and South Carolina, along with seven additional clubs in Puerto Rico. Situated just minutes from the Port of Jacksonville, the facility also plays a critical role in routing imported goods to four regional distribution centers.
Frank Herrera, general manager of the new center, said the project is more about opportunity.
"Each position brings a pathway for opportunity at Walmart and Sam's Club," Herrera stated.
The facility has created numerous new full-time jobs, which come with access to Walmart's total rewards package, per a press release.
WMT Price Action: Walmart shares are trading higher by 2.85% to $93.79 at publication on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44862662/trump-pressures-fed-as-ecb-delivers-7th-straight-rate-cut" target="_blank" rel="noreferrer noopener">Trump Pressures Fed As ECB Delivers 7th Straight Rate Cut</a></li>
</ul>
Photo: Shutterstock

Equities

Markets

Movers

General

What's Going On With Walmart Stock Today?

UBS analyst Peter Grom maintains Scotts Miracle Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) with a Neutral and lowers the price target from $77 to $55.

UBS Maintains Neutral on Scotts Miracle Gro, Lowers Price Target to $55

UBS analyst Brock Vandervliet maintains Runway Growth Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RWAY#NASDAQ">RWAY</a>) with a Buy and lowers the price target from $13 to $11.

RWAY

UBS Maintains Buy on Runway Growth Finance, Lowers Price Target to $11

US Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) reported upbeat <a href="https://www.benzinga.com/25/04/44838028/us-bancorp-beats-q1-estimates-on-strength-in-noninterest-income-loan-growth-and-cost-discipline">first-quarter earnings on Wednesday</a>.
Here are some key analyst takeaways.
<ul>
<li>Goldman Sachs <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/595e3a7c988ca80001dc7d9c/richard-ramsden">analyst Richard Ramsden</a> maintained a Neutral rating, while reducing the price target from $44 to $42.</li>
<li>DA Davidson <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59072de6290fa70001f19989/peter-winter">analyst Peter Winter</a> reiterated a Buy rating, while cutting the price target from $54 to $49.</li>
<li>Raymond James <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ca96e4b85e930001f446e0/david-long">analyst David Long</a> reaffirmed an Outperform rating, while reducing the price target from $57 to $51.</li>
<li>Truist Securities analyst John McDonald maintained a Hold rating and price target of $51.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Goldman Sachs: US Bancorp reported first-quarter earnings of $1.03 per share, beating consensus of $1.01 per share. Management guided to second-quarter net interest income of $4.1 billion to $4.2 billion, representing sequential growth, Ramsden said in a note.
The bank expects NII growth to continue through the year, "benefiting from fixed asset repricing, repositioning to higher yield loan categories as well as continued deposit repricing," the analyst wrote. Management reaffirmed their 2025 guidance to reflect total revenue growth of 3%-5%, he further stated.
DA Davidson: US Bancorp delivered a "clean quarter," with an earnings beat that was driven by fee income coming in sequentially flat at $2.836 billion, Winter said. He added that credit quality was strong, leading to provision expenses declining by $23 million to $537 million.
Management's total revenue growth guidance of 3%-5% reflects modest loan and deposit growth, the analyst stated. Gunjan Kedia, who took over as CEO on April 15, is "determined to have USB regain its premium valuation with a real sense of urgency.&#8221;
Raymond James: US Bancorp reported broadly in-line net interest margin, while reiterating its medium-term NIM target of 3.00% by 2027, Long said. The company also mapped out the steps to reach this target, he added.
"Incorporating a +3.0% NIM and +$700 billion balance sheet into 2027 results in at least 10% annual NII growth," the analyst wrote. This was the second consecutive quarter in which the bank achieved positive operating leverage, he further stated.
Truist Securities: US Bancorp&#8217;s earnings call focused on the achievement of medium-term targets under Kedia, McDonald said. There was no change in the bank's overall strategy of prudently managing expenses, growing organically, and transforming its payments businesses.
Management aims to strike a balance between growth and profitability in payments, "with the expectation that it will grow volumes in-line with the U.S. industry, while leaning into areas where it makes sense from a profitability/margin perspective," McDonald wrote.
Price Action: At the time of publication on Wednesday, shares of US Bancorp had risen by 2.14% to $38.61.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44806916/citigroup-bank-of-america-and-3-stocks-to-watch-heading-into-tuesday">U.S. Bancorp Shares Drop While Leadership Transition Announced</a> </li>
</ul>
Image: Shutterstock

Analyst Color

Earnings Beats

Reiteration

US Bancorp Posts Q1 Earnings Beat, New CEO Exhibits 'Sense Of Urgency'

Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) on Thursday disclosed that it penned LNG <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44854421/woodside-signs-lng-supply-agreements-with-uniper" rel="noreferrer noopener">sale and purchase agreements</a> with Uniper SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UNPRF#OTC">UNPRF</a>).
Under the agreements, Louisiana LNG LLC will provide 1.0 Mtpa of LNG on a free-on-board (FOB) basis for up to 13 years starting from the commercial operations date (COD) of the Louisiana LNG project.
Additionally, Woodside Energy Trading Singapore Pty. Ltd. will deliver up to 1.0 Mtpa of LNG into Europe on a delivered ex-ship (DES) basis, beginning with Louisiana LNG's COD and continuing through 2039, drawing from Woodside's global portfolio.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42743811/chart-industries-secures-11-million-lng-deal-with-bechtel-and-woodside-energy" rel="noreferrer noopener">Chart Industries Lands LNG Deal: Powering Woodside Energy's Louisiana Expansion</a>
Woodside CEO Meg O'Neill described the deals as a significant step forward in advancing the Louisiana LNG project toward a final investment decision (FID).
These agreements remain subject to Woodside's FID on the proposed three-train, 16.5 Mtpa foundation development of Louisiana LNG.
O'Neill added, "Louisiana LNG is Woodside's largest growth project. It leverages the robust US gas resource, an outstanding site, best-in-class EPC and technology partners and Woodside's track record of successful project delivery."
"The addition of Atlantic Basin LNG supply to our established position in the Pacific strengthens Woodside's portfolio and allows us to tailor contract structures based on various price indices and tenures to better meet our customers' diverse needs."
Michael Lewis, Uniper CEO, added, "This deal will support our security of supply and flexible generation strategy together with the potential development of additional gas-fired power plants in Germany to complement the renewable build-up."
This month, Woodside inked a binding deal to sell a&nbsp;40% stake in Louisiana LNG Infrastructure&nbsp;LLC to&nbsp;Stonepeak. As per the deal, Stonepeak plans to invest $5.7 billion in the development of the three-train, 16.5 mtpa <a target="_blank" href="https://www.benzinga.com/news/asset-sales/25/04/44668895/woodside-energy-sells-40-stake-in-louisiana-lng-project-for-5-7-billion" rel="noreferrer noopener">foundation phase of Louisiana LNG</a>.
Price Action: WDS claims are up 3.62% to $12.89% at the last check on Thursday.
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Woodside Secures Up To 2 Mtpa LNG Offtake With Uniper Ahead of Final Louisiana FID

UBS analyst Josh Silverstein maintains Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) with a Neutral and lowers the price target from $37 to $36.

UBS Maintains Neutral on Range Resources, Lowers Price Target to $36

UBS analyst Peter Grom maintains Reynolds Consumer Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REYN#NASDAQ">REYN</a>) with a Neutral and lowers the price target from $29 to $26.

REYN

UBS Maintains Neutral on Reynolds Consumer Prods, Lowers Price Target to $26

UBS analyst Jay Sole maintains Palmer Square Capital BDC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSBD#NYSE">PSBD</a>) with a Neutral and lowers the price target from $16.5 to $14.

PSBD

UBS Maintains Neutral on Palmer Square Capital BDC, Lowers Price Target to $14

PDD Holdings Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) <a target="_blank" href="https://www.benzinga.com/topic/temu" rel="noreferrer noopener">online retailer</a> Temu and fast-fashion retailer Shein will&nbsp;increase prices&nbsp;next week to shift the burden of U.S. President Donald Trump&#8217;s tariffs and crackdown on affordable imports on consumers.
The companies shared plans to raise prices starting April 25, offering the customers a week to buy at the current prices, Reuters reported Thursday, citing the company&#8217;s websites.
Temu also slashed its online ad spending in the U.S. and noted plunging ranking in&nbsp;Apple Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) App Store following&nbsp;U.S. tariffs on trading partners.
Read Next: <a target="_blank" href="https://www.benzinga.com/25/02/43431559/amazon-temu-and-shein-under-eu-scrutiny-regulators-target-illegal-products-and-tougher-e-commerce-rules" rel="noreferrer noopener">Amazon, Temu, and Shein Under EU Scrutiny, Regulators Target Illegal Products and Tougher E-Commerce Rules</a>
Temu has been spending money on TV ads and across Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook to grow its market share in the U.S. by targeting budget shoppers.
Temu&#8217;s strategy helped it top Apple&#8217;s list of the most downloaded free apps&nbsp;in the U.S. for the past two years. However, downloads of Temu on Apple&#8217;s App Store have fallen 62% recently, CNBC <a target="_blank" href="https://www.cnbc.com/2025/04/16/temu-cuts-us-ad-spend-drops-in-app-store-rank-after-trump-tariffs-.html" rel="noreferrer noopener">reported</a> Thursday, citing SimilarWeb.
Under President Trump&#8217;s tariff policies, packages shipped from China are now subject to a <a target="_blank" href="https://www.benzinga.com/news/retail-sales/25/04/44714336/temu-shein-brace-for-impact-as-trumps-tariff-torpedo-blows-up-the-800-loophole" rel="noreferrer noopener">tariff rate of 145%</a>. At the same time, he ended the duty-free status on low-value China imports. New rules slap 90% tariffs on sub-$800 China shipments, ending a key pricing edge for fast fashion.
Amazon.Com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) third-party marketplace sellers, many of whom source their products from China, are eying price hikes.
Last October, Amazon set <a target="_blank" href="https://www.benzinga.com/news/24/10/41496830/amazon-attacks-temu-and-sheins-turf-with-new-low-cost-storefront-report" rel="noreferrer noopener">strict price caps</a> for its new low-cost storefront, with limits like $8 for jewelry and $20 for sofas, targeting discount rivals.
The new platform ships orders from China and offers sellers reduced fulfillment fees, aiming to boost affordable product offerings.
Amazon CEO&nbsp;Andy Jassy&nbsp;<a target="_blank" href="https://www.benzinga.com/25/04/44754457/amazon-ceo-andy-jassy-says-trump-tariff-costs-could-hit-consumers-as-sellers-pass-them-on-company-working-to-limit-price-hikes-amid-1771-ytd-stock-drop" rel="noreferrer noopener">warned that</a> tariffs on Chinese imports could result in higher consumer prices, as many of the company&#8217;s third-party sellers are unlikely to absorb the additional costs.
Temu was previously one of&nbsp;Meta&#8217;s&nbsp;largest advertisers, but it appears to have dramatically scaled back its spending on the platform.
Advertising analyst Brian Wieser at Madison and Wall&nbsp;told CNBC&nbsp;that over $7 billion of Meta&#8217;s $132 billion ad revenue in 2023 came from China.
Price Actions: PDD stock is up 1.93% to $94.13 at the last check Thursday.
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Photo via Shutterstock

Asia

Government

Regulations

Media

AAPL

AMZN

Temu And Shein To Raise Prices Amid US Tariffs, Slash Ad Spend On Apple, Meta

UBS analyst Vilas Abraham maintains PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) with a Neutral and lowers the price target from $11.5 to $10.5.

PFLT

UBS Maintains Neutral on PennantPark Floating Rate, Lowers Price Target to $10.5

The European Central Bank (ECB) lowered its benchmark deposit <a href="https://europeancapitalinsights.substack.com/p/ecb-cuts-rates-amid-trump-tariffs?r=3nmatg">rate by 25 basis points </a>on Thursday, marking the seventh cut since June 2024.
The decision was based on "the dynamics of underlying inflation and the strength of monetary policy transmission," the ECB said. Most measures suggest that inflation will settle at around 2% of the ECB medium-term target on a sustained basis, the central bank <a href="https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp250417~42727d0735.en.html">said</a>.
The ECB began cutting rates in June 2024, following a decline in inflation to 2.6% after peaking at 10.6% in October 2022. The bloc&#8217;s central bank felt it needed to ease monetary policy to support the economy, as high interest rates had dampened investment and consumer spending.
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79126d6a-5aa0-45b0-b1a1-a921eb93adff_1019x434.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79126d6a-5aa0-45b0-b1a1-a921eb93adff_1019x434.png" alt="" /></a><figcaption class="wp-element-caption">Euro Area Interest Rate, Source: TradingEconomics</figcaption></figure>
ECB interest rates on the deposit facility, the main refinancing operations, and the marginal lending facility will be decreased to 2.25%, 2.40%, and 2.65%, respectively, the central bank said today.
<h2 class="wp-block-heading">ECB Moves to Project Eurozone From Global Uncertainty</h2>
European Union (EU) monetary officials have sought to <a href="https://x.com/eurocapinsights/status/1912903641041686636">protect the eurozone</a> from the impact of weaker global trade, market volatility, and the uncertainty surrounding US trade policy under President Donald Trump.
<a target="_blank" rel="noreferrer noopener" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/global-economic-outlook-april-2025">S&amp;P Global </a>lowered its 2025 global GDP growth projections<a target="_blank" rel="noreferrer noopener" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/global-economic-outlook-april-2025">&nbsp;</a>on Wednesday to 2.2% from 2.5% amid the Trump administration's tariff war.
"The euro area economy has been building up some resilience against global shocks," the ECB said. "But the outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms."
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf82199-0364-4839-afc7-663b591d9b02_720x481.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf82199-0364-4839-afc7-663b591d9b02_720x481.png" alt="" /></a><figcaption class="wp-element-caption">% change in Global GDP: <a target="_blank" rel="noreferrer noopener" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/global-economic-outlook-april-2025">S&amp;P</a></figcaption></figure>
Concerns about global political instability have influenced the ECB&#8217;s decision-making.
"Geopolitical tensions, such as Russia's unjustified war against Ukraine and the tragic conflict in the Middle East, also remain a major source of uncertainty," Christine Lagarde, ECB governor, said today. "At the same time, an increase in defence and infrastructure spending would add to growth."
<a target="_blank" rel="noreferrer noopener" href="https://europeancapitalinsights.substack.com/p/eu-bolsters-defense-plans-as-brussels">EU leaders</a> have allocated €800 billion to defense investments as they grapple with a shift in the global order under the Trump Administration. Brussels has expressed alarm at Washington's push for a peace deal between Russia and Ukraine without EU involvement.
<h2 class="wp-block-heading">Trump's Tariffs Disrupt Europe's GDP Outlook</h2>
Trump's tariff war has curbed optimism about the eurozone's economic outlook. US tariffs had included a 20% blanket levy on EU goods and active tariffs on European autos, steel, and aluminum.
The Trump administration then paused the tariffs for 90 days to allow for negotiations with the EU. Brussels has also put its retaliatory tariffs on hold to facilitate dialogue.
"The never-ending back-and-forth have brought back growth concerns for the eurozone," ING Think <a target="_blank" rel="noreferrer noopener" href="https://think.ing.com/snaps/ecb-cuts-rates-by-25bp-as-disinflationary-pressures-increase/">said</a> on Thursday. This has offset "previous optimism stemming from the German fiscal policy U-turn, at least in the near term," it said.
Lagarde<a target="_blank" rel="noreferrer noopener" href="https://www.reuters.com/markets/europe/european-markets-functioning-well-ecb-attentive-fx-movements-lagarde-says-2025-04-11/"> said</a> last week that the bank "is always ready to use the instruments that it has available," hinting at a continued dovish stance.
<h2 class="wp-block-heading">BCA Research Points to Upside After Trump's Tariffs</h2>
Investment firm BCA Research, in a<a target="_blank" rel="noreferrer noopener" href="https://www.euronews.com/business/2025/04/16/trump-the-unifier-how-europe-could-benefit-from-trumps-policies">&nbsp;report</a>&nbsp;titled "Trump the Unifier," pointed to an upside to Trump's trade policies. Chief Strategist Mathieu Savary <a target="_blank" rel="noreferrer noopener" href="https://www.euronews.com/business/2025/04/16/trump-the-unifier-how-europe-could-benefit-from-trumps-policies">noted</a> that "ironically, Trump is doing more to advance European unity than anyone since Schumann, Monnet, and Adenauer."
BCA forecasted a mild eurozone recession by mid-2025, but one softened by coordinated fiscal support and monetary easing. Importantly, Savary argued that US protectionism could catalyze overdue structural reforms.
This would push Europe closer to completing its single market and launching new trade ties outside the US. The World Economic Forum (WEF) also highlighted the EU&#8217;s ability to absorb shocks, thanks to its robust trade bureaucracy.
"The EU's setup makes it uniquely well-positioned to manage a tariff war," Andrew Caruana Galizia, WEF's Head of Europe and Eurasia, <a target="_blank" rel="noreferrer noopener" href="https://www.weforum.org/stories/2025/04/liberation-day-europe-economics-tariffs/">said</a> on April 11. "It has an extremely competent trade bureaucracy with the power to negotiate on behalf of the entire bloc, and it can take far-reaching countermeasures without unanimity among its 27 member states."
<h2 class="wp-block-heading">Europe Faces Steep Challenges With Trump's Tariffs</h2>
Still, <a target="_blank" rel="noreferrer noopener" href="https://europeancapitalinsights.substack.com/p/german-euro-area-economic-sentiment">challenges persist.</a> The prospect of US tariffs on critical EU sectors, such as pharmaceuticals and semiconductors, could deepen economic contraction if implemented. European GDP grew just 0.1% in Q4 2024.
Business investment and consumer sentiment remain subdued, while capital expenditure is declining. In response, German economic sentiment plummeted <a target="_blank" rel="noreferrer noopener" href="https://europeancapitalinsights.substack.com/p/german-euro-area-economic-sentiment">on Tuesday</a> to multi-year lows on Trump's "Liberation Day" speech.
<a target="_blank" rel="noreferrer noopener" href="https://think.ing.com/articles/eurozone-recovery-facing-serious-headwinds/">ING Think forecasted that</a> the German economy will stagnate in this year&#8217;s second and third quarters, resulting in 0.5% GDP annual growth. It warned that economic forecasts are "highly uncertain" given that the trade situation "may swiftly change again."
Following Germany, the economic sentiment in the eurozone region also plummeted, according to the ZEW, a German non-profit organization.
<h2 class="wp-block-heading">Euro Strengthens, Energy Prices Ease With Trump Tariffs</h2>
Trump's tariffs have helped slow inflation in Europe, according to ING Think.
"The strengthening of the euro and the drop in energy prices have added to the disinflationary impact that the current trade tensions will have on the eurozone," it said.
Bond markets remain resilient, with German bunds seen as a haven. Despite short-term equity volatility, BCA expects European assets to outperform their US counterparts as reforms take hold.
The German equity benchmark, the DAX, is up around 5.85% year-to-date, while its US counterpart, the S&amp;P 500, is down around 10%.
<figure class="wp-block-image"><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67baa204-eb6c-4522-bc2b-6e2d65182325_1600x709.png" target="_blank" rel="noreferrer noopener"><img decoding="async" src="https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67baa204-eb6c-4522-bc2b-6e2d65182325_1600x709.png" alt="" /></a><figcaption class="wp-element-caption">German 10-year Bond, Source: TradingView</figcaption></figure>
Germany's fiscal overhaul and growing trade partnerships with countries like India and Canada hint at a stronger post-crisis Europe.
A fresh start with China also seems on the cards. Xi Jinping<a target="_blank" rel="noreferrer noopener" href="https://www.ft.com/content/1b336307-d8c6-4e37-a4d6-54e021e5c339"> said</a> that China and the EU should "jointly resist unilateral bullying." XI commented while hosting Spanish Prime Minister Pedro Sánchez last week in Beijing.
"Tactically, a move towards more bilateral co-operation between these two economic heavyweights expands their potential leverage in any talks with the US as well," François Chimits, an economist at the Mercator Institute for China Studies, said.
Disclaimer:
Any opinions expressed in this article are not to be considered investment advice and are solely those of the authors. European Capital Insights is not responsible for any financial decisions made based on the contents of this article. Readers may use this article for information and educational purposes only.&nbsp;
This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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Econ #s

ECB Cuts Rates Amid Trump Tariffs, Eurozone Growth Concerns

UBS analyst Peter Grom maintains Newell Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) with a Neutral and lowers the price target from $8 to $5.5.

UBS Maintains Neutral on Newell Brands, Lowers Price Target to $5.5

UBS analyst Timothy Arcuri maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and lowers the price target from $185 to $180.

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