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Femto Technologies Inc

News

Mccormick Says It Is "Well Positioned" To Mitigate Current Tariff Related Costs, Fuel Growth Investments, And Expand Operating Margins

2025 Guidance Summary
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Unit abbreviations: oz = troy ounce, $/oz sold = U.S. dollars per gold ounce sold, $m = million of U.S. dollars</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="3" rowspan="1">2025 Guidance Summary</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Florida Canyon Mine: gold production</td>
<td colspan="1" rowspan="1">ounces</td>
<td colspan="1" rowspan="1">70,000 - 75,000</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Florida Canyon Mine: total cash cost1</td>
<td colspan="1" rowspan="1">$/oz sold</td>
<td colspan="1" rowspan="1">$1,800 - $1,900</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Florida Canyon Mine: mine-site all-in sustaining cost ("AISC")1</td>
<td colspan="1" rowspan="1">$/oz sold</td>
<td colspan="1" rowspan="1">$2,450 - $2,550</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Florida Canyon Mine: sustaining capital expenditures and leases</td>
<td colspan="1" rowspan="1">$m</td>
<td colspan="1" rowspan="1">$48.0 - $53.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Florida Canyon Mine: growth capital expenditures</td>
<td colspan="1" rowspan="1">$m</td>
<td colspan="1" rowspan="1">$8.0 - $10.0</td>
</tr>
<tr>
<td colspan="1" rowspan="1">DeLamar &amp; Nevada North Projects: project advancement</td>
<td colspan="1" rowspan="1">$m</td>
<td colspan="1" rowspan="1">$14.5 - $15.5</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Corporate: general and administrative expenses2</td>
<td colspan="1" rowspan="1">$m</td>
<td colspan="1" rowspan="1">$7.5 - $8.0</td>
</tr>
</tbody>
</table>
</figure>

Guidance

ITRG

Integra Sets 2025 Guidance: Florida Canyon To Produce 70,000-75,000 Ounces Of Gold, Total Cash Costs Between $1,800-$1,900 per Ounce

McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) affirms FY2025 Adj EPS guidance from $3.03-$3.08 to $3.03-$3.08 vs $3.04 analyst estimate..

McCormick & Co Affirms FY2025 Adj EPS Guidance of $3.03-$3.08 vs $3.04 Est; Projects Net Sales Growth Of 0%-2%

71% objective response rate (ORR) (12/17) per RECIST v1.1, with a favorable safety profile
83% ORR (10/12) in patients across doses selected for ongoing dose expansion study
Responses observed in patients with low PD-L1 and/or CLDN18.2 expression
Updated results to be presented at ESMO GI on July 2nd
Company to host investor event on July 8th
ROCKVILLE, Md., June 26, 2025 (GLOBE NEWSWIRE) -- I-Mab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>) (the "Company"), a U.S.-based, global biotech company, focused on the development of precision immuno-oncology agents for the treatment of cancer, today announced publication of ESMO Gastrointestinal Cancers Congress 2025 (ESMO GI 2025) abstract #388MO related to positive data from a Phase 1b study evaluating givastomig in combination with nivolumab and mFOLFOX6 chemotherapy for metastatic gastric cancers. An objective response rate (ORR) of 71% (12/17) was observed across all dose levels with an ORR of 83% (10/12) observed at dose levels selected for the ongoing dose expansion study (8 and 12 mg/kg). Responses were rapid and deepened over time, and were observed in tumors with low levels of PD-L1 expression and/or low levels of Claudin 18.2 (CLDN18.2) expression. There was a favorable safety profile, with low incidence of GI and liver toxicities. I-Mab intends to host a virtual investor event on Tuesday, July 8th (register <a href="https://www.globenewswire.com/Tracker?data=c9ofWXSpX61CpagEDM0pY2xFqsAvs5oQ7KJu5iG213tkH0uBybl7M-C1uCD8XzyScGl8cEy5ilx4F8DcGyxIugguApQveQvVCOSTJXtnFDA=">here</a>) to recap the data being presented at ESMO GI.
The abstract is based on the results of the dose escalation part of a Phase 1b study (NCT04900818) evaluating the safety, efficacy, pharmacokinetics (PK), and pharmacodynamics (PD) of givastomig used in combination with nivolumab and mFOLFOX6 as first line therapy (1L) in patients with Claudin 18.2-positive gastric cancers (≥1+ intensity in ≥1% of cells). The primary endpoint is safety. The study only enrolled patients in the U.S.

IMAB

I-Mab Publishes Abstract Related To Data From Phase 1b Study Evaluating Givastomig In Combination With Nivolumab And mFOLFOX6 Chemotherapy For Metastatic Gastric Cancers In ESMO GI 2025

NATO's 32 member states agreed to increase defense spending to 5% of GDP by 2035, representing a significant increase from the long-standing 2% benchmark.
The new target is the most ambitious in the alliance's 76-year-old history and a major political win for <a target="_blank" href="https://www.benzinga.com/topic/donald-trump" rel="noreferrer noopener">U.S. President</a> Donald Trump, who had long criticized European allies for underfunding their militaries.
"Our investments will ensure we have the forces, capabilities, resources, infrastructure, warfighting readiness, and resilience needed to deter and defend in line with our three core tasks of deterrence and defence, crisis prevention and management, and cooperative security," the <a target="_blank" href="https://www.nato.int/cps/en/natohq/official_texts_236705.htm" rel="noreferrer noopener">press release</a> stated.
The agreement includes a 3.5% floor for core defense spending, encompassing troops, weapons, and ammunition, and allows up to 1.5% for related areas, such as infrastructure, cybersecurity, and civilian preparedness.
Members must follow credible annual progress plans, with a major review anticipated for 2029. The declaration also commits allies to expand defense industrial cooperation, eliminate trade barriers, and invest in emerging technologies such as drones and satellite systems.
In a message that Trump shared on social media and AP News <a target="_blank" href="https://apnews.com/article/trump-rutte-text-message-nato-signal-6263810ac3ca77a5bf7366499f51c772" rel="noreferrer noopener">relayed</a>, NATO Secretary General Mark Rutte said that Trump "will achieve something no American president in decades could get done."
Still, major issues were sidestepped. The summit delivered no new aid for Ukraine, offered no updated posture on Russia, and avoided discussing China. "All the big challenges were left off the agenda," Torrey Taussig, a former Europe director at the U.S. National Security Council, said, according <a target="_blank" href="https://www.nytimes.com/2025/06/25/world/europe/nato-increase-military-spending-trump.html" rel="noreferrer noopener">to</a> the New York Times.
<h2 class="wp-block-heading">Carney Leans on Critical Minerals</h2>
The 5% goal significantly widens what counts as defense spending, offering nations flexibility to invest in long-term resilience—such as transportation networks and innovation hubs—tied to national security. NATO leaders framed the move as essential to confronting growing threats and maintaining credible deterrence.
"We are investing at the scale and urgency required by the new era of strategic competition," the official summit document stated.
Canada's Prime Minister Mark Carney noted that the country is ready to meet the new spending requirement, estimating that a 5% pledge would cost about CA$150 billion ($109 billion) over the next decade. Still, he pointed out that roughly one-third of that is already underway, with investments in critical mineral infrastructure that support defense resilience.
Carney clarified his country's focus on advanced technologies, such as drones, AI, satellites, and cyber warfare—not heavy platforms like carriers—and said spending would evolve as threats change. "We'll do a review in four or five years," he said <a target="_blank" href="https://financialpost.com/news/economy/carney-says-canada-can-hit-new-110-billion-nato-bill-with-mines" rel="noreferrer noopener">per</a> Financial Post, adding that defense and trade talks with Trump remain active.
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46109160/japans-top-trade-negotiator-calls-trumps-25-auto-tariffs-unacceptable-amid-ongoing-talks" target="_blank" rel="noreferrer noopener">Japan's Top Trade Negotiator Calls Trump's 25% Auto Tariffs' Unacceptable' Amid Ongoing Talks</a></li>
</ul>
Image via Shutterstock

Government

Eurozone

Financing

Politics

Global

Markets

Market Vectors Environmental Services Index Fund

iShares Dow Jones US Aerospace & Defense Index Fund

ROKT

NATO's New 5% Target For Defense A Win for Trump; Carney Turns To Critical Minerals

NATR

Nature's Sunshine Announces Pricing Of Secondary Offering Of Common Stock, Selling 2,854,607 Shares At $12 Each

General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) has issued a recall for over 62,468 vehicles in the U.S. over a brake pressure sensor issue.
What Happened: The Detroit-based automaker recalled Chevrolet Silverado Pickup trucks manufactured from 2019 to 2024, Reuters reported on Thursday.
The issue with the brake pressure sensor, which could cause a fluid leak leading to increased chances of an electrical short and a fire, stems from the use of an unauthorized chemical during the assembly of the brake line by the company's supplier, the report said.&nbsp;
The report also suggests that over 1% of the recalled Chevrolet Silverado vehicles are affected by the issue, adding that an underhood fire could occur when the vehicle is switched off.
Why It Matters: The recall comes as GM's fellow Detroit-based automaker, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), recently <a href="https://www.benzinga.com/markets/tech/25/06/46068633/ford-recalls-aviator-suvs-as-adhesive-issue-adds-to-automakers-mounting-recall-woes">issued multiple recalls</a> for several vehicles in its lineup.  
GM, along with other auto manufacturers in the U.S., issued a statement <a href="https://www.benzinga.com/markets/tech/25/06/46108517/gm-toyota-call-out-nhtsa-over-safety-rules-say-regulator-is-stifling-innovation-holding-back-autonomous-vehicle-future">criticizing the NHTSA</a>, or National Highway Traffic Safety Administration, for "stifling innovation."
GM also recently <a href="https://www.benzinga.com/markets/tech/25/06/45899175/general-motors-cfo-says-4-billion-investment-will-allow-company-to-rebalance-production-amid-trump-tariffs">invested over $4 billion</a> in its domestic production facilities, which the automaker says could help the company rebalance production as U.S. President Donald Trump's auto tariffs cause uncertainty in the auto industry.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="213" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025-1024x213.jpg" alt="" class="wp-image-963018" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025-1024x213.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025-300x62.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025-768x160.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025-1536x319.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26062128/GM-26-JUN-2025.jpg 1553w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
GM scores well on Value and Quality metrics, while also offering satisfactory Momentum and Growth. 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 Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46109160/japans-top-trade-negotiator-calls-trumps-25-auto-tariffs-unacceptable-amid-ongoing-talks">Japan&#8217;s Top Trade Negotiator Calls Trump&#8217;s 25% Auto Tariffs &#8216;Unacceptable&#8217; Amid Ongoing Talks</a></li>
</ul>
Photo courtesy: Jonathan Weiss / Shutterstock.com

Tech

General Motors Recalls Over 62,000 Vehicles For Brake Issue That Could Potentially Result In A Fire: Report

McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.66 by 4.7 percent. This is unchanged from the same period last year. The company reported quarterly sales of $1.659 billion which beat the analyst consensus estimate of $1.658 billion by 0.04 percent. This is a 0.97 percent increase over sales of $1.643 billion the same period last year.

Earnings

Earnings Beats

McCormick & Co Q2 Adj. EPS $0.69 Beats $0.66 Estimate, Sales $1.659B Beat $1.658B Estimate

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella believes that while AI is already accelerating scientific breakthroughs, the true game-changer will be when quantum computing is integrated into the mix.
What Happened: During a fireside chat with Gary Tan at Y Combinator's AI Startup School that was posted on YouTube on Wednesday, Nadella shared his vision for the future of AI, quantum computing and supercomputing.
He explained that AI, along with high-performance computing (HPC), has already made significant strides in fields like chemistry, physics, and material science. However, he believes that quantum computing will take these advancements to the next level.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage' As China's Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
"If you want to understand the language of nature, which is simulation, I think the best way to do it is through a quantum computer because, after all, physics and nature are quantum," Nadella said. "AI is … an emulator of that simulator."
"What we are seeing is pretty good advances in using basically HPC+AI as a way to accelerate advances in Chemistry, in Physics, in Material Science and so quantum would be the next step in it. But we&#8217;re very excited about what AI+quantum and HPC in a loop can do," he added.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Satya Nadella: Microsoft&#039;s AI Bets, Hyperscaling, Quantum Computing Breakthroughs" width="500" height="281" src="https://www.youtube.com/embed/AUUZuzVHKdo?start=69&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Why It's Important: In February earlier this year, Microsoft debuted its first quantum chip, Majorana 1, powered by a breakthrough Topological Core architecture designed to support quantum computers capable of solving complex, real-world problems within a few years.
At the heart of this innovation is the topoconductor—a custom-built material that enables the creation and control of Majorana particles, which in turn produce more stable, scalable qubits, the foundational units of quantum computing.
Microsoft said this approach could ultimately pack one million qubits onto a chip small enough to fit in a hand, unlocking applications like breaking down microplastics and creating self-healing materials.
This announcement <a href="https://www.benzinga.com/tech/24/12/42397333/google-quantum-ais-new-willow-chip-can-do-in-minutes-that-supercomputers-would-take-10-septillion-years">came just months after</a> 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 introduced its Willow quantum chip.
Previously, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang said <a href="https://www.benzinga.com/markets/tech/25/06/45885805/nvidias-jensen-huang-sparks-quantum-stock-frenzy">quantum computers are nearing the point</a> where they can solve real-world problems beyond the reach of traditional computers.
Speaking at the GTC Paris developer conference, Huang reversed his earlier cautious stance, calling this "an inflection point" for the technology and predicting meaningful applications within a few years.
Benzinga's Edge Stock Rankings indicate a favorable trend for Microsoft across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More in-depth performance metrics can be found here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26060159/Screenshot-2025-06-26-at-12.41.13%E2%80%AFPM-1.png" alt="" class="wp-image-962969" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

GOOG

GOOGL

MSFT

NVDA

AI Is Already Speeding Up Discoveries In Chemistry And Physics, But Satya Nadella Says The Real Breakthrough Will Come When We Add Quantum Computing To The Mix

During Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) third quarter results, the company&#8217;s CEO, Sanjay Mehrotra, warned investors that not all of the AI-fueled demand surge may be sustainable.
What Happened: On Wednesday, during the company&#8217;s <a href="https://www.benzinga.com/markets/earnings/25/06/46104401/micron-q3-earnings-revenue-eps-beat-estimates-data-center-revenue-guidance-ai-demand">third quarter earnings</a> call, while highlighting its soaring data center revenues, Mehrotra flagged potential short-term distortions tied to global trade tensions that investors need to be prepared for.
He said, &#8220;There may have been some tariff-related pull-ins by certain customers,&#8221; referring to the likelihood of some customers pulling forward their memory and storage orders ahead of time, to get ahead of potential trade and tariff-related disruptions.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46109917/billionaire-david-tepper-dumps-nvidia-slashes-magnificent-7-holdings-but-bets-big-on-these-2-ai-and-blockchain-plays">Billionaire David Tepper Dumps Nvidia, Slashes &#8216;Magnificent 7&#8217; Holdings — But Bets Big On These 2 AI And Blockchain Plays</a>
While this raises questions regarding demand visibility in the quarters ahead, Micron says that it is well prepared to &#8220;adjust to any unforeseen demand changes that may occur due to macro conditions or the evolving tariff-related situation.&#8221;
Mehrotra emphasized that the tariff-related impact was &#8220;relatively modest,&#8221; but he does, however, acknowledge that the environment has gotten a lot more challenging since the &#8220;Liberation Day&#8221; tariffs were announced.
Why It Matters: This was an eventful earnings call, with the company announcing <a href="https://www.benzinga.com/markets/tech/25/06/46108308/microns-200-billion-us-chip-investment-plan-gets-backing-from-trump-admin-as-ai-demand-soars">$200 billion in fresh investments</a> in the U.S. over the next 20 years, across manufacturing and R&amp;D.
Analysts continue to maintain a <a href="https://www.benzinga.com/quote/MU/analyst-ratings">strong bullish outlook</a> on the stock, with the high end of its price target at $250, representing a 96.8% upside from current levels.
During its <a href="https://www.benzinga.com/markets/earnings/25/06/46104401/micron-q3-earnings-revenue-eps-beat-estimates-data-center-revenue-guidance-ai-demand">third quarter results</a> on Wednesday, Micron reported $9.3 billion in revenue, ahead of consensus estimates at $8.87 billion. It posted a profit of $1.91 per share, again beating estimates at $1.60, driven by strong demand for its memory products for AI use-cases.
Price Action: Micron&#8217;s shares were down 0.52% on Wednesday, trading at $127.25, but are up 1.71% after hours, following its earnings announcement.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26054614/Screenshot-2025-06-26-at-3.10.51-PM-1024x147.png" alt="" class="wp-image-962935" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26054614/Screenshot-2025-06-26-at-3.10.51-PM-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26054614/Screenshot-2025-06-26-at-3.10.51-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26054614/Screenshot-2025-06-26-at-3.10.51-PM-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26054614/Screenshot-2025-06-26-at-3.10.51-PM.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, the stock scores well on Momentum and Quality, while featuring a strong price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46110289/amazon-ceo-andy-jassy-warns-of-ai-driven-workforce-reduction-amzn-wont-keep-everyone-says-ex-vp-ethan-evans-in-warning-to-employees">Amazon CEO Andy Jassy Warns Of AI-Driven Workforce Reduction — AMZN &#8216;Won&#8217;t Keep Everyone,&#8217; Says Ex-VP Ethan Evans In Warning To Employees</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Large Cap

Micron CEO Cautions AI Boom May Not Be Fully Sustainable, Flags Tariff-Driven Demand Pull-In

On Wednesday, June 25, U.S. markets closed mixed, with the Nasdaq lifted by tech shares while the S&amp;P 500 remained flat. Fed Chair Jerome Powell&#8217;s second day of congressional testimony reiterated the central bank&#8217;s wait-and-see approach to rate cuts.
Nvidia&#8217;s market value surged, making it the world&#8217;s most valuable company. Economic uncertainty weighed on corporate guidance, with notable declines from Tesla, FedEx, and General Mills. BlackBerry and Micron saw strong gains.
According to economic data, U.S. new home sales fell by 13.7% to 623,000 units in May, while building permits dropped by 2% to 1.394 million.
Most S&amp;P 500 sectors closed lower, with real estate, consumer staples, and utilities posting the largest losses, while information technology and communication services stocks ended higher.
The Dow slid 0.25% to 42,982.43, the S&amp;P 500 was flat at 6,092.16, and the Nasdaq gained 0.31% to 19,973.55.
<h2 class="wp-block-heading">Asia Markets Today</h2>
On Thursday, Japan&#8217;s Nikkei 225 closed 1.66% higher at 39,588.00, led by gains in the Real Estate, Banking, and Textile sectors.
Australia&#8217;s S&amp;P/ASX 200 was down 0.10% at 8,550.80, led by losses in the IT, Gold, and A-REITs sectors.
India&#8217;s Nifty 50 was up 1.26% at 25,562.60, and the Nifty 500 gained 0.99% to 23,527.80.
China&#8217;s Shanghai Composite was down 0.22% at 3,448.45, and Shanghai Shenzhen CSI 300 fell 0.35% to 3,946.02.
Hong Kong&#8217;s Hang Seng closed the session 0.61% lower at 24,325.40.
<h2 class="wp-block-heading">Eurozone at 05:45 AM ET</h2>
The European STOXX 50 index was up 0.18%.
Germany&#8217;s DAX index gained 0.76%.
France&#8217;s CAC 40 rose 0.24%.
U.K.&#8217;s FTSE 100 index traded higher by 0.18%.
<h2 class="wp-block-heading">Commodities at 05:45 AM ET</h2>
Crude Oil WTI was trading lower by 0.03% at $64.90/bbl, and Brent was up 0.09% at $66.50/bbl.
Oil prices steadied after erasing earlier gains as investors focused on market fundamentals amid cautious optimism over the Iran-Israel ceasefire.
Natural gas fell 0.90% to $3.537.
Gold traded higher by 0.32% to $3,354.10, Silver rose 1.40% to $36.608, and Copper gained 2.77% to $5.0523.
<h2 class="wp-block-heading">U.S. Futures</h2>
At 05:45 AM ET, the Dow Jones futures rose 0.19%, the S&amp;P 500 gained 0.27%, and the Nasdaq 100 was up 0.40%.
<h2 class="wp-block-heading">Forex</h2>
At 05:45 AM ET, the U.S. Dollar Index declined 0.56% to 97.15, USD/JPY was down 0.77% to 144.09, and USD/AUD slid 0.39% to 1.5293.
The dollar fell to multi-year lows against the euro and Swiss franc, driven by concerns over the Fed&#8217;s independence and Trump&#8217;s criticism of Powell.
Photo via Shutterstock

Asia

Emerging Markets

Futures

Commodities

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

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

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia Markets Mixed, Europe Gains, Dollar Hit by Fed Concerns And Cooling Inflation - Global Markets Today While US Slept

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4457286-1&amp;h=3440101448&amp;u=https%3A%2F%2Fquarterra.com%2F&amp;a=Quarterra+Group">Quarterra Group</a>, a subsidiary of Lennar Corporation and a&nbsp;real estate investment and development firm, today announced the start of leasing at <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4457286-1&amp;h=4191418327&amp;u=https%3A%2F%2Fliveartemas.com%2F%3Futm_source%3Dquarterra%26utm_medium%3Dorganic&amp;a=Artemas">Artemas</a>, a mid-rise apartment community in Everett, Massachusetts, just four miles north of Downtown Boston. The management of Artemas falls under the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4457286-1&amp;h=4030698690&amp;u=https%3A%2F%2Fwww.helloalfred.com%2Falfred-announces-merger-with-quarterras-property-management-arm-creating-a-national-next-generation-property-management-platform%2F&amp;a=recent+merger+agreement">recent merger agreement</a>&nbsp;between Quarterra Living, the property management division of Quarterra Group, and RKW Residential, the property management arm for Alfred.
&nbsp;
Artemas introduces 396 apartment homes and 1,500 square feet of retail space to the "Fermentation District" of Everett, an active neighborhood that is home to several breweries and distilleries.

Lennar Corp Launches Leasing at Artemas, New Apartment Community in Everett Near Boston

BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) has said that the Chinese EV giant's production has remained stable, <a href="https://www.benzinga.com/news/retail-sales/25/06/46090074/byd-scales-back-production-amid-profit-concerns-rising-inventory-in-china">despite earlier reports</a> that it had scaled back on manufacturing activities amid China's fierce EV price war.
What Happened: Sources close to the company have reiterated that the production levels on the factory lines remain stable, CnEVPost reported <a href="https://cnevpost.com/2025/06/26/exclusive-byd-production-capacity-remains-stable/">on</a> Thursday.
Earlier, reports in the media suggested that the company had scaled back on production by reducing shifts at Chinese factories and delaying adding new production lines.
Inventory levels at various BYD dealers also remain stable and the company's market share in the Chinese auto market continues to rise, the report suggested, citing the earlier source.
Why It Matters: The report comes in as BYD recently overtook Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in <a href="https://www.benzinga.com/markets/tech/25/06/45969242/elon-musk-has-a-new-problem-byd-beats-tesla-in-global-ev-sales-amid-europe-expansion">global EV sales</a>, according to data released by the International Council on Clean Transportation (ICCT).
BYD has also set its <a href="https://www.benzinga.com/25/04/44946809/byd-rejigs-european-strategy-amid-lack-of-market-knowledge-and-modest-dealer-network-report">eyes on Europe</a> as the brand has released its <a href="https://www.benzinga.com/markets/25/05/45560953/byds-europe-pivot-in-full-swing-with-new-26000-affordable-ev-amid-tesla-sal">Dolphin Surf EV</a> in the region for $26,000. The Dolphin Surf is the Euro-spec version of its best-selling Seagull EV in China.
However, back in China, authorities <a href="http://v">have raised concerns</a> about the aggressive pricing strategies adopted by brands in a bid to boost sales. Despite this, BYD released its <a href="https://www.benzinga.com/markets/tech/25/06/45855643/tesla-rival-byd-launches-15000-seal-06-sedan-as-chinas-ev-price-war-heats-up">Seal 06 EV</a> in China for $15,000, almost half the price of a Tesla Model 3.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46069883/teslas-china-sales-slip-over-10-in-mid-june-after-strong-may-surge">Tesla&#8217;s China Sales Slip Over 10% in Mid-June After Strong May Surge</a></li>
</ul>
Photo courtesy: Tada Images / Shutterstock.com

BYDDF

BYDDY

TSLA

BYD Denies Production Cutbacks Amid EV Price War, Says Output Remains Stable: Report

U.S. futures rose on Thursday after a mixed close on Wednesday. Futures of major benchmark indices were trading higher.
During his testimony to Congress, Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation after the central bank left interest rates unchanged.
President Donald Trump, who has been pushing the Fed to cut rates, said that he could announce Powell&#8217;s successor by September, whose term ends later in May 2026, <a href="https://www.wsj.com/economy/central-banking/trump-next-federal-reserve-chair-powell-d3edcb9c?mod=hp_lead_pos1">reported</a> the Wall Street Journal. 
The 10-year Treasury bond yielded 4.28% and the two-year bond was at 3.76%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 75.2% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.26%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.40%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.12%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 0.28% at $608.84, while the QQQ advanced 0.41% to $543.36, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Information technology and communication services stocks bucked the overall market trend, closing higher on Wednesday, while most sectors on the S&amp;P 500 closed on a negative note, with real estate, consumer staples, and utilities recording the biggest losses.
At a NATO meeting in the Netherlands, President Trump stated that a ceasefire between Israel and Iran remains in effect, and the United States will persist in pressuring Tehran. He clarified that while sanctions are still in place, Iran is presently permitted to sell oil to China.
Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) spearheaded chipmaker gains, increasing 3.6% and reaching its highest level since early December 2024. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares also surged 4.3% on Wednesday.
On the economic front, U.S. sales of new single-family homes decreased by 13.7% from the previous month, reaching an annualized rate of 623,000 units in May. U.S. building permits declined by 2% to an annualized rate of 1.394 million in May.
The Dow Jones index ended 507 points or 0.25% lower at 42,982.43, whereas the S&amp;P 500 index fell 0.0003% to 6,092.16. Nasdaq Composite advanced 0.31% to 19,973.55, and the small-cap gauge, Russell 2000, tumbled 1.16% to end at 2,136.18.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.31%</td>
<td>19,973.55</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.00033%</td>
<td>6,092.16</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.25%</td>
<td>42,982.43</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.16%</td>
<td>2,136.18</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Liz Ann Sonders, the chief investment strategist at Schwab, said that the Middle East remains unstable, but maybe not as unstable as it looked a few days ago, so the market shook off the fear and rose.
&#8220;There was a spike in oil and concerns over the weekend and what futures signaled Sunday night, but things aren&#8217;t as bad as expected, and we&#8217;re not seeing escalation, so markets rallied.&#8221;
Talking about international equities, Brock Weimer, an investment strategist at Edward Jones, said that &#8220;We believe the more compelling opportunity lies in U.S. equities over the next one to three years. As part of our opportunistic asset-allocation guidance, we recommend a slight underweight to international developed equities in favor of U.S. stocks.&#8221;
Meanwhile, Louis Navellier commented on Powell&#8217;s Congress testimony and said, &#8220;So, despite the fact that three other Fed members are now signaling a July key interest rate cut, Chairman Powell remains a hawk and continues to ignore favorable inflation data as well as lower Treasury yields.&#8221;
&#8220;The Fed has been anticipating an inflation &#8216;bogeyman&#8217; that has not materialized. Central banks around the world continue to cut key interest rates. Deflation is becoming increasingly common around the world, especially in China,&#8221; Navellier said.
Talking about the U.S. dollar, he said he expects the U.S. dollar to &#8220;firm up&#8221; due to;
(1) higher interest rates compared to the rest of the world, (2) stronger economic growth, and (3) military might.
&#8220;A strong U.S. dollar is also naturally deflationary, since commodities are priced in U.S. dollars,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>May&#8217;s advanced U.S. trade balance in goods, retail inventories, and wholesale inventories, along with the initial jobless claims data for the week ended June 21, will be released by 8:30 a.m. ET.</li>
<li>May&#8217;s headline and core durable-goods orders and second revision for the first quarter GDP will also be released at 8:30 a.m. ET.</li>
<li>Cleveland Fed President Beth Hammack will speak at 9:00 a.m., and pending home sales for May will be out by 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) was up 0.27% in premarket on Thursday as analysts expect it to report quarterly earnings of 34 cents per share on revenue of $36.84 billion, before the opening bell.</li>
<li>Acuity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) advanced 1.35% as analysts expect it to report quarterly earnings of $4.43 per share on revenue of $1.15 billion, before the opening bell.</li>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) was 0.74% higher as analysts expect it to report quarterly earnings of 13 cents per share on revenue of $10.72 billion after the closing bell.</li>
<li>McCormick &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) rose 0.84% as analysts expect it to report quarterly earnings of 65 cents per share on revenue of $1.66 billion, before the opening bell.</li>
<li>Worthington Steel Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) jumped 16.15% after reporting stronger-than-expected financial results for the fourth quarter. The company reported quarterly earnings of $1.05 per share, which beat the analyst consensus estimate of 82 cents per share.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) was up 2.18% after reporting better-than-expected financial results for the third quarter after the market closed on Wednesday. The company said it expects fourth-quarter revenue of $10.7 billion, plus or minus $300 million, versus estimates of $9.88 billion.</li>
<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) gained 0.61% after announcing 30% of job cuts and restructuring plans.</li>
<li>Bit Digital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) tumbled 3.83% commenced an underwritten public offering of its ordinary shares, with all shares being offered by the company.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.15% to hover around $65.02 per barrel.
Gold Spot US Dollar rose 0.29% to hover around $3,341.87 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.54% at the 97.1550 level.
Asian markets ended lower on Thursday, except Japan's Nikkei 225 and India's S&amp;P BSE Sensex indices. While Australia's ASX 200, China&#8217;s CSI 300, South Korea's Kospi and Hong Kong's Hang Seng advanced. European markets were mostly higher in early trade.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/46109917/billionaire-david-tepper-dumps-nvidia-slashes-magnificent-7-holdings-but-bets-big-on-these-2-ai-and-blockchain-plays">Billionaire David Tepper Dumps Nvidia, Slashes &#8216;Magnificent 7&#8217; Holdings — But Bets Big On These 2 AI And Blockchain Plays</a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

BMBL

BTBT

US Stocks Likely To Open Higher Despite Powell's Tariff-Induced Inflation Warning: Walgreens, Nike In Focus Ahead Of Earnings

Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), <a target="_blank" href="https://www.benzinga.com/topic/microsoft" rel="noreferrer noopener">in partnership with</a> the Wisconsin Economic Development Corporation (WEDC), the University of Wisconsin-Milwaukee (UWM), and TitletownTech, announced on Wednesday the opening of an AI Co-Innovation Lab on the UWM campus.
It marks Microsoft&#8217;s first AI Co-Innovation Lab dedicated <a target="_blank" href="https://news.microsoft.com/source/2025/06/25/microsoft-wisconsin-economic-development-corporation-university-of-wisconsin-milwaukee-and-titletowntech-officially-open-ai-co-innovation-lab-to-accelerate-manufacturing-innovation/" rel="noreferrer noopener">to manufacturing innovation</a>. The lab&#8217;s launch comes one year after Microsoft&#8217;s $3.3 billion investment to build AI infrastructure in Wisconsin.&nbsp;
From real-time fault detection in industrial machinery to multilingual voice assistants that streamline gate, dock, and yard logistics, local companies are working to apply Microsoft&#8217;s AI technologies to improve operations and decision-making. Others are building tools to forecast supply chain lead times, manage hydroponic farms, and deliver proactive customer support.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/large-cap/25/06/45755544/rising-ai-analytics-budgets-could-lift-microsoft-snowflake-datadog" rel="noreferrer noopener">Rising AI, Analytics Budgets Could Lift Microsoft, Snowflake, Datadog</a>
The lab also works with organizations across industries, including small and medium-sized businesses, enterprises, startups, and academia. This reflects the broad networks and experience of the lab&#8217;s founding partners: Microsoft, WEDC, UWM, and TitletownTech.
In January 2025, Microsoft <a target="_blank" href="https://www.benzinga.com/25/01/42806852/microsoft-pauses-construction-on-33-billion-mount-pleasant-data-center-project-cites-technology-changes-and-design-re-evaluation" rel="noreferrer noopener">announced it would</a> temporarily pause construction on parts of its data center project in Mount Pleasant, Wisconsin. However, the company confirmed it still plans to finish the data center&#8217;s first phase, with a total investment of $3.3 billion expected by the end of 2026.
The Mount Pleasant site holds a historical context: it was originally selected for a Foxconn megaproject that was ultimately canceled. Foxconn, formally known as Hon Hai Precision Industry, is a multinational electronics contract manufacturing company and a major supplier for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). Foxconn had initially pledged a $10 billion investment in the area, but this commitment was later reduced significantly to $672 million.
Microsoft has made substantial financial commitments to AI development, allocating approximately $80 billion in fiscal 2025 to develop data centers globally. These data centers are crucial for supporting AI model training and deploying AI and cloud-based applications.
In May 2025, Microsoft showcased new products and partnerships with OpenAI, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Elon Musk&#8217;s xAI, all targeting Microsoft Azure cloud clients to sell AI models during its annual Build conference in Seattle. Microsoft introduced a new coding &#8220;agent,&#8221; among other innovations.
Goldman Sachs analyst Kash Rangan told the Financial Times that Microsoft is the AI ringleader, citing it as the top platform and catalyst for making models work.
MSFT&nbsp;Price Action:&nbsp;MSFT stock was trading higher by 0.31% to $493.82 premarket at last check Thursday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/46079632/bofa-sees-155-billion-agentic-ai-boom-by-2030-spotlights-microsoft-salesforce-and-others" target="_blank" rel="noreferrer noopener">BofA Sees $155 Billion Agentic AI Boom By 2030, Names Key Beneficiaries</a></li>
</ul>
Photo via Shutterstock

AAPL

Microsoft's New AI Lab Powers Wisconsin Manufacturing

iHuman Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IH#NYSE">IH</a>) ("iHuman" or the "Company"), a leading provider of tech-powered, intellectual development products in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.
&nbsp;
First Quarter 2025 Highlights
<ul>
<li>Revenues were RMB210.4 million (US$29.0 million), compared with RMB235.0 million in the same period last year.</li>
<li>Gross profit was RMB143.8 million (US$19.8 million), compared with RMB168.1 million in the same period last year.</li>
<li>Operating income was RMB21.6 million (US$3.0 million), compared with RMB17.5 million in the same period last year.</li>
<li>Net income was RMB26.5 million (US$3.7 million), compared with RMB22.3 million in the same period last year.</li>
<li>Average total&nbsp;MAUs[1] for the first quarter were 26.51 million, compared with 26.38 million in the same period last year.</li>
</ul>

iHuman Reported Q1 2025 MAUs Of 26.5M Vs 26.4M YoY

iHuman Q1 Adj. EPS $0.07 Up From $0.06 YoY, Sales $28.999M Down From $32.548M YoY

President Donald Trump&#8216;s fiscal 2026 defense budget request signals a strategic pivot toward advanced missile systems and unmanned warfare capabilities while scaling back traditional fighter jet procurement, potentially reshaping revenue streams for major defense contractors.
What Happened: The $892.6 billion defense and national security budget, flat compared to fiscal 2025, cuts F-35 Lightning II orders to 47 units from the 68 requested in former President Joe Biden&#8216;s final budget proposal, Reuters reported, citing budget materials released on Wednesday by the White House.
Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), the F-35&#8217;s sole manufacturer, faces reduced near-term revenue from the program despite House appropriators proposing to increase the buy to 69 aircraft.
The budget emphasizes procurement of long-range precision munitions, including the Joint Air-to-Surface Standoff Missile Extended Range and Long Range Anti-Ship Missile, both manufactured by Lockheed Martin. These weapons systems align with Pentagon priorities for Indo-Pacific operations designed to counter Chinese military expansion.
Naval shipbuilding also faces constraints, with only three warships included in the base budget request. General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) and Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>), primary builders of Virginia-class submarines and surface vessels, will see reduced procurement volumes as the Navy eliminates 7,286 civilian positions to control costs.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46109638/microsoft-ceo-satya-nadella-praises-palantirs-fde-model-as-fantastic-insiders-say-its-not-consulting-it-builds-the-product-customers-need">Microsoft CEO Satya Nadella Praises Palantir&#8217;s FDE Model As &#8216;Fantastic&#8217;—Insiders Say It&#8217;s Not Consulting, It Builds &#8216;The Product Customers Need&#8217;</a>
Why It Matters: The budget allocates increased funding for small drone systems, reflecting lessons learned from the Ukraine conflict, where unmanned aerial vehicles proved cost-effective force multipliers. This shift <a href="https://www.benzinga.com/news/space/25/06/46090791/us-tests-radar-that-could-help-trumps-golden-dome-detect-missiles-over-1200-miles-report">benefits emerging defense technology</a> companies competing for Pentagon contracts alongside traditional prime contractors.
Trump&#8217;s Golden Dome missile defense initiative, estimated to cost over $175 billion, receives initial funding through a separate $150 billion defense package. The program has attracted interest from non-traditional defense players, including SpaceX, Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and artificial intelligence <a href="https://www.benzinga.com/news/space/25/06/46090791/us-tests-radar-that-could-help-trumps-golden-dome-detect-missiles-over-1200-miles-report">companies seeking to disrupt</a> the established contractor base.
The budget includes a 3.8% military pay raise while retiring aging platforms to reduce operational costs, according to the report. 
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/46106134/bernie-sanders-shares-first-thing-he-would-do-as-president-and-it-could-be-a-jab-at-elon-musk" target="_blank" rel="noreferrer noopener">Bernie Sanders Shares First Thing He Would Do As President — And It Could Be A Jab At Elon Musk</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Joey Sussman / Shutterstock.com

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