All of February's factory cost inflation measures came in lower-than-expected in the Producer Price Index report released Thursday. Economists are weighing in on what it could mean for the U.S. <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44300810/us-producer-inflation-stalls-in-february-as-services-costs-drop-eggs-price-skyrockets">economy going forward. </a>



What To Know: The weaker-than-expected producer inflation report follows Wednesday&#8217;s softer than anticipated consumer price index data and bolstered hopes for interest rate cuts in 2025.&nbsp;



Read More: <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day</a>&nbsp;



Expert Ideas: Gregory Daco, chief economist for EY-Parthenon, said February's PPI data shows that disinflation was occurring before the implementation of tariffs. It remains to be seen if that trend can continue as the trade war escalates.&nbsp;



Daco also pointed to surging egg prices as a leading factor in the pressure on goods prices.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Key take-aways &#x1f4c9;Disinflation WAS firmly in place ahead of tariffs &#x1f4c8;Goods prices pressured by +54% eggs price surge &#x2705;Services prices fell on lower trade margins (40% from machinery &amp; vehicles) which is reassuring &#x1f4ca;Still some pressure regarding PCE passthrough (esp healthcare) <a href="https://t.co/L5kAXLA9wS">pic.twitter.com/L5kAXLA9wS</a>&mdash; Gregory Daco (@GregDaco) <a href="https://twitter.com/GregDaco/status/1900169344614604916?ref_src=twsrc%5Etfw">March 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bill Adams, chief economist for Comerica Bank, also noted the surge in egg prices that was moderated by lower margins for machinery and vehicle wholesalers.&nbsp;



Following both the cooler-than-expected CPI and PPI reports, Adams suggests that February's PCE index may come in below expectations as well. A cooler number from the Fed&#8217;s preferred inflation gauge could benefit markets.&nbsp;



However, Adams said, "Financial markets are paying more attention to announcements from the White House about tariffs and job cuts than the hard numbers."&nbsp;



Chris Zaccarelli, chief investment officer for Northlight Asset Management, cautioned that the latest inflation data reflects only one month and further volatility likely lies ahead.&nbsp;



"Clearly this is going to be a much more volatile year and it remains to be seen if all of the revolutionary changes to the economy and trans-Atlantic alliances will lead to a recession or if it will lead to higher growth rates in the future," Zaccarelli said.&nbsp;



Market Reactions: All three major indexes were red in Thursday's morning trading with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, down 0.44% at $556.41 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100, down 0.88% at $472.74 at the time of publication. 



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Latest Inflation Data Excludes Tariffs, Trump Policy Changes: 2025 Will Be 'Much More Volatile Year,' Economist Says

Gold's strong rise continues, with the precious metal hitting a fresh record on Thursday as investors rush to shield their portfolios from mounting trade<a href="https://www.benzinga.com/topic/tariffs"> tensions and economic uncertainty.</a>



Spot gold as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) traded at $2,969 per ounce at 10:52 a.m. ET, gaining 1.2% and marking its third consecutive session of gains. The metal surged 13% so far in 2025, outpacing every other major asset class.



The S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — is down 5.2%, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has lost 12% and the U.S. dollar index has slipped 4% year-to-date.



<h1 class="wp-block-heading">Why Is Gold Soaring?</h1>



Gold's rally is driven by a cocktail of economic and geopolitical risks. President Donald Trump's administration has reignited fears of a global trade war, by threatening countries with high tariffs. 



Meanwhile, signs of economic weakness are becoming more pronounced. The Atlanta Federal Reserve's GDPNow model projects a 2.4% contraction for the U.S. economy in the first quarter of 2025, while JPMorgan has raised its probability of a recession this year to 40%.



&#8220;A large and unknown player is driving gold's recent rally,&#8221; Ross Norman, CEO of Metals Daily Ltd. said. This could explain why the metal is defying normal trading patterns and pushing higher despite fluctuating bond yields and currency movements.



&#8220;As the trade war started by President Trump worsens, there is no wonder why gold continues to be one of the best-performing assets right now,&#8221; veteran market strategist Ed Yardeni said.



<h1 class="wp-block-heading">Where Does Gold Go From Here?</h1>



With risk aversion dominating sentiment, analysts are raising their gold price forecasts. Joni Teves of UBS Investment Bank, speaking on CNBC's &#8220;Squawk Box,&#8221; said, &#8220;Risk aversion created by the geopolitical landscape, particularly tariffs, is still going to work in favor of adding gold to the portfolio.&#8221; 



UBS expects gold to reach $3,100 per ounce by the end of the year.



Macquarie Group analysts are even more bullish, forecasting gold could hit $3,500 by the third quarter.



"We view gold's price strength to date, and our expectation for it to continue, as primarily being driven by investors' and official institutions' greater willingness to pay for its lack of credit or counterparty risk," the organization wrote.



<h1 class="wp-block-heading">Mining Stocks Soar On The Heels Of Gold Rally</h1>



The gold rally has breathed new life into mining stocks, though many remain well below past highs.



The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) jumped 3.2% but is still trading 35% below its 2011 peak. The VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) also gained 3.2% but remains 70% below its 2010 record.



Among individual stocks, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) climbed 5.1%, B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>) advanced 4.8%, Kinross Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) added 3.8%, Franco-Nevada Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) gained 3.1% and Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) rose 2.7%.



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44304426/from-magnificent-7-to-maleficent-7-goldman-sachs-slashes-year-end-sp-500-target">From &#8216;Magnificent 7&#8217; To &#8216;Maleficent 7,&#8217; Goldman Sachs Slashes Year-End S&amp;P 500 Target</a></li>
</ul>



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Gold Hits Record Highs As Trade War Fears Fuel Safe-Haven Demand: Mining Stocks Soar

IonQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) shares are facing some selling pressure Thursday following a <a href="https://www.benzinga.com/topic/short-sellers">short report from Kerrisdale Capital</a>.



What To Know: Short seller Kerrisdale Capital announced a short position against quantum computing company IonQ on Thursday, citing valuation concerns following the stock&#8217;s recent surge.



&#8220;Despite retreating from all-time highs, shares still trade at a staggering 40x consensus 2026E revenue – a valuation that defies both logic and the warnings of former IonQ employees, who highlighted monumental scaling challenges that will derail the company's ambitious plans,&#8221; the short seller said.



Benzinga has reached out to IonQ for comment on the Kerrisdale Capital report.



IonQ shares are up approximately 134% over the past year. Kerrisdale believes the rally in IonQ has been driven by management claims about delivering on technical and commercial milestones. Kerrisdale said investors are focused on these &#8220;relatively immaterial past achievements&#8221; and are ignoring the scalability challenge.



See Also: <a href="https://www.benzinga.com/insights/options/25/03/44289521/d-wave-quantum-options-trading-a-deep-dive-into-market-sentiment">D-Wave Quantum Options Trading: A Deep Dive into Market Sentiment</a>



According to the short seller, IonQ has forecasted exponential growth from 80 to 100 physical qubits currently to more than 4,000 by 2026 and 32,000 by 2028. 



The company believes it can use photonic interconnects to achieve said growth, but Kerrisdale argued that commercially viable photonic interconnects are still a long way away. The short seller noted that IonQ has never disclosed performance metrics for its photonic interconnect development.



&#8220;A year ago, IonQ claimed it was &#8216;on track to finish&#8217; developing photonic interconnects by 2024, but industry executives we consulted confirmed that performance remains far below the threshold necessary for commercial scaling,&#8221; the short seller said.



&#8220;Rather than reflecting a strategic shift, the looming inability to deliver on growth promises is what has driven IonQ's recent pivot into quantum networking, the need to raise additional equity despite prior assurances to the contrary, and other material changes to its technology benchmarks, financial reporting, and management, as announced late last month.&#8221;



IonQ executive chair Peter Chapman<a href="https://www.benzinga.com/news/management/25/02/43993251/ionq-q4-eps-miss-500-million-offering-ceo-appointment-acquires-stake-in-id-quantique-details"> stepped down</a> from his role as CEO last month. Chapman has a history of making bold claims that &#8220;diverged from reality,&#8221; according to the short seller. 



Chapman claimed IonQ had a perfect 32-qubit system in 2020, but Kerrisdale said a former IonQ executive told the short seller that the company only had an 11-qubit system at the time. 



Kerrisdale went on to challenge other claims made by Chapman and pointed out that the former CEO has been selling shares. Kerrisdale said it&#8217;s a &#8220;glaring red flag&#8221; that the terms of the company&#8217;s at-the-market offering allowed Chapman to sell up to 2.2 million shares. 



Kerrisdale said IonQ is a &#8220;cash-burning, highly promotional company in a hot sector valued at absurd revenue multiples.&#8221; As executives unload shares and retail investors continue to ignore scaling challenges, the short seller believes IonQ could be a &#8220;disaster in the making.&#8221;



&#8220;As reality sets in, IonQ shareholders chasing a quantum leap will find themselves wishing they had stayed in a more stable state,&#8221; the short seller said. 



IONQ Price Action: <a href="http://benzinga.com/quote/ionq">IonQ shares</a> were down 3.6% at $21.02 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44304426/from-magnificent-7-to-maleficent-7-goldman-sachs-slashes-year-end-sp-500-target">From &#8216;Magnificent 7&#8217; To &#8216;Maleficent 7,&#8217; Goldman Sachs Slashes Year-End S&amp;P 500 Target</a></li>
</ul>



Photo: courtesy of IonQ.

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Is High-Flying IonQ Stock A 'Disaster In The Making'? Shares Slide As Short Seller Raises Red Flags

U.S. President Donald Trump has reignited transatlantic trade tensions, threatening to impose a 200% tariff on all European wine and alcoholic products unless the European Union drops its 50% <a href="https://www.benzinga.com/topic/tariffs">tariff on American whiskey.</a>



The move, announced Thursday on Truth Social, sent ripples through the beverage industry, sparking market reactions across major alcohol producers.



Trump criticized the EU as "one of the most hostile and abusive taxing and tariffing authorities in the World" and accused the bloc of exploiting the U.S. economy. 



He warned that unless the whiskey tariff was removed "immediately," the U.S. would retaliate with steep duties on "wines, champagnes, &amp; alcoholic products coming out of France and other E.U. represented countries."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: President Trump says he will place a 200% tariff on all wines, champagnes, and alcoholic products coming from the EU if they do not cancel their 50% tariff on US whisky. <a href="https://t.co/mQe3IoqZZo">pic.twitter.com/mQe3IoqZZo</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1900155890512138564?ref_src=twsrc%5Etfw">March 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">How Much Is At Stake?</h3>



The U.S. is a critical market for European alcohol producers, importing $14.2 billion worth of beverages, spirits, and vinegar from the EU in 2024, according to International Trade Center data.



Of that, $5.65 billion came from wine-related products, making American consumers a crucial revenue stream for European winemakers. 



The U.S. market accounts for nearly a fifth of the EU's global wine exports, a dependence that makes Trump's tariff threat a significant economic concern for the industry.



French, Italian, and Spanish winemakers—who dominate EU exports to the U.S.—would face the brunt of the impact. French producers alone shipped more than $1.5 billion worth of wine to the U.S. last year.



On the other side, American whiskey producers like Brown-Forman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>)—maker of Jack Daniel's—stand to gain if European tariffs are removed.



The trade dispute escalated after the European Commission announced plans on Wednesday to impose countermeasures on $28 billion worth of U.S. goods in response to blanket American tariffs on steel and aluminum. This retaliatory stance sets the stage for a renewed trade war, reminiscent of the tit-for-tat tariff battles of the Trump administration.



<h3 class="wp-block-heading">Market Reaction: European Alcohol Stocks Already Feel The Heat</h3>



Trump's tariff warning sent shockwaves through alcohol stocks, particularly European producers. Shares of Davide Campari Milano (OTCPK: DVCMY) tumbled 3.6% during European trading, while Rémy Cointreau SA (OTCPK: REMYF), known for its premium cognacs, dropped nearly 4%. LVMH Moët Hennessy Louis Vuitton (OTCPK: LVMHF), the owner of Moët &amp; Chandon and Hennessy, slipped 1.5%.



The U.S. alcohol sector, however, showed mixed reactions. Shares of Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), which owns Robert Mondavi wines and Corona beer, remained flat in premarket trading in New York. Meanwhile, Brown-Forman, a direct beneficiary if European tariffs on whiskey are lifted, rose 2%.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44300810/us-producer-inflation-stalls-in-february-as-services-items-decline-eggs-price-skyrockets">US Producer Inflation Stalls In February As Services Costs Drop, Eggs Price Skyrockets</a></li>
</ul>



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Trump Threatens 200% Tariff On European Wine, Alcohol Stocks React

U.S. producer prices unexpectedly stagnated in February, while core inflation posted a rare contraction, reinforcing hopes that cost pressures may be easing despite lingering <a href="https://www.benzinga.com/topic/inflation">concerns over trade tariffs.</a>



The Producer Price Index (PPI) remained flat on a monthly basis in February, a sharp deceleration from January's upwardly revised 0.6% gain and below expectations of a 0.3% increase. 



Core PPI, which excludes food and energy, fell 0.1% in February, marking its first monthly decline since July 2024. This came after January's figure was revised higher to a 0.5% gain. 



On a year-over-year basis, headline producer inflation eased to 3.2%, down from January's upwardly revised 3.7%, while core PPI slowed to 3.4%, from a revised 3.8% in the previous month.



The weaker-than-expected producer inflation report follows Friday's consumer price index data, which also came in softer than anticipated, strengthening the case for Federal Reserve rate cuts later this year.



<h3 class="wp-block-heading">Price Drivers: Food Jumps, Services Fall</h3>



The muted headline figure masked significant divergences across categories. Food prices surged 1.7%, largely driven by an extraordinary 53.6% spike in egg prices. 



Other contributors to the increase included pork, fresh and dry vegetables, electric power, tobacco products, and carbon steel scrap.



Yet, gasoline prices fell 4.7%, exerting downward pressure on the overall index.



Meanwhile, the index for final demand services declined 0.2%, the steepest drop since July 2024, suggesting cooling inflationary pressures in service-related sectors.



<h3 class="wp-block-heading">Market Reactions</h3>



<ul>
<li>U.S. dollar: The dollar strengthened despite the softer PPI report, with the U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rising 0.4%.</li>



<li>Treasury yields: The 10-year U.S. Treasury yield increased 2 basis points to 4.33% as markets reassessed inflation risks.</li>



<li>Stock market: Selling pressure on equities resumed after a brief rebound on Wednesday. Futures on major U.S. indices recorded losses in the premarket trading, with S&amp;P 500 futures down 0.2% at 8:39 a.m. ET.</li>



<li>On Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at $558.87, up 0.5% but still hovering near its lowest levels in seven months and about 3% below its 200-day moving average.</li>
</ul>



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<li><a href="https://www.benzinga.com/25/03/44298732/nvidia-valuation-drops-after-2025-rout-ai-chipmakers-price-declines-41-from-its-peak-when-chatgpt-was-launched">Nvidia Valuation Drops After 2025 Rout: Chipmaker&#8217;s Price Declines 41% From Its Peak When ChatGPT Was Launched</a></li>
</ul>



Photo: Shutterstock

Currency ETFs

US Producer Inflation Stalls In February As Services Costs Drop, Egg Prices Skyrocket

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miners just had one of their best quarters on record, but the real winners aren't <a href="https://www.benzinga.com/topic/bitcoin-miners">just those mining</a> the most coins &#8211; it's those keeping costs in check.



JPMorgan analyst Reginald L. Smith breaks down the latest trends in the sector, upgrading IREN Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) to Overweight while moving Cipher Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NASDAQ">CIFR</a>) to Neutral.



<h2 class="wp-block-heading">A Record Quarter, But Who Benefited Most?</h2>



The fourth quarter saw four of the five major publicly traded bitcoin miners &#8211; Cipher, CleanSpark Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), IREN, MARA Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) &#8211; report record revenues and profits, largely thanks to Bitcoin's price surge. 



MARA led the pack in total coins mined (2,514 BTC), but IREN stole the show with a 65% increase in production quarter-over-quarter, bringing in 1,347 BTC.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44287639/trump-appointed-sec-chair-could-fast-track-crypto-etf-approvals-xrp-solana-dogecoin-etfs-coming-by-june">Trump-Appointed SEC Chair Could Fast-Track Crypto ETF Approvals: XRP, Solana, Dogecoin ETFs Coming By June?</a>



<h2 class="wp-block-heading">Mining Costs: The Great Divide</h2>



Efficiency is key in Bitcoin mining, and IREN came out on top, producing BTC at the lowest all-in cash cost of ~$36,100 per coin. Riot, on the other hand, posted the highest cost at ~$72,400 per BTC—a steep price even with BTC averaging ~$83,300 in the fourth quarter.



Smith notes that MARA had the lowest cash SG&amp;A costs at $9,600 per coin, making it a lean operator despite its relatively high power costs ($52,400 per BTC).



<h2 class="wp-block-heading">Hashrate Growth Takes A Breather</h2>



After an aggressive 180% increase in hashrate in 2024 &#8211; outpacing even network growth—the five miners are slowing down in 2025. CleanSpark and MARA are shifting toward more disciplined capital management, while IREN, Cipher, and Riot are evaluating hashrate expansion versus high-performance computing (HPC) opportunities. 



Riot and IREN have already trimmed their hashrate targets to free up capacity for HPC projects, with Cipher also considering reallocating resources.



<h2 class="wp-block-heading">HPC: The Next Big Pivot?</h2>



Miners aren't just chasing bitcoin anymore. Smith sees HPC data centers as a key growth driver, with Cipher best positioned to strike a deal in the near term. IREN is constructing a 75 MW multi-tenant, liquid-cooled HPC data center, expected to go live in 2H25, though financing and tenant details remain unclear. 



Riot and IREN continue active talks with hyperscalers, but deals are taking longer to materialize.



<h2 class="wp-block-heading">Stock Ratings Shake-Up</h2>



Smith is upgrading IREN to Overweight with a $12 price target, citing its low-cost structure and strong production growth. 



CleanSpark, also rated Overweight, gets a revised $12 price target (down from $17) due to deteriorating mining economics. 



Meanwhile, Cipher moves to Neutral, as its 2025 hashrate target lags behind competitors, and capital raises appear likely. 



MARA and Riot remain Neutral and Overweight, respectively, with price targets of $18 and $13.



With miners slowing expansion, pivoting toward HPC, and managing capital more cautiously, 2025 is shaping up to be a year of strategic recalibration. Bitcoin's price will still dictate the sector's fate, but as Smith highlights, those with the lowest costs and diversified revenue streams will have the edge.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44295050/peter-schiff-warns-americans-will-be-harmed-most-when-bitcoin-bubble-pops-says-us-has-biggest-crypto-lobby">Peter Schiff Warns Americans Will Be Harmed Most When Bitcoin Bubble Pops, Says US Has Biggest Crypto Lobby</a></li>
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Image: Midjourney

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Bitcoin Miners Ride The BTC Boom, But Costs Tell A Different Story: JPMorgan Analyst

On Thursday, Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">higher in premarket</a> after the company reported fourth-quarter FY24 earnings today.



The company reported fourth-quarter sales growth of 4.5% year-on-year to $10.304 billion, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/b44297967/dollar-general-corporation-reports-fourth-quarter-and-fiscal-year-2024-results" rel="noreferrer noopener">consensus estimate of $10.264 billion.</a>



Same-store sales increased 1.2% versus last year, driven by an increase of 2.3% in average transaction amount and a decrease of 1.1% in customer traffic.



The gross profit margin for the quarter decreased 8 basis points Y/Y to 29.4%. The operating margin contracted 302 basis points to 2.86%, and operating income for the quarter declined 49.2% to $294.2 million.



EPS of $0.87 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus</a> estimate of $1.51.



The company held $932.576 million in cash and equivalents as of January 31, 2025. Operational cash flow for the twelve months increased 25.3%, totaling $3 billion.



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/03/44277627/ge-aerospace-doubles-down-on-us-manufacturing-with-1b-investment-details" rel="noreferrer noopener">GE Aerospace Doubles Down On US Manufacturing With $1B Investment: Details</a>



As of January 31, 2025, total merchandise inventories, at cost, were $6.7 billion compared to $7 billion as of February 2, 2024.&nbsp;



On March 11, 2025, the company&#8217;s Board of Directors declared a quarterly cash dividend of $0.59 per share&nbsp;on its common stock, payable on or before April 22 to shareholders of record on April 8.&nbsp;



&#8220;We were pleased with the underlying performance of the business in the fourth quarter, including improved execution and solid top-line results,&#8221; said CEO&nbsp;Todd Vasos.



As a result of store portfolio optimization review during the quarter, the company plans to close 96 Dollar General stores and 45 pOpshelf stores, and convert an additional six pOpshelf stores to Dollar General stores in the first quarter of fiscal&nbsp;2025.



The company&#8217;s operating profit for the fourth of quarter included charges of&nbsp;$232 million, which resulted in a negative impact to EPS of approximately&nbsp;$0.81, primarily due to these store closures as well as pOpshelf impairment charges.



Outlook: Dollar General expects FY25 sales growth of 3.4% – 4.4% and same-store sales growth of 1.2% – 2.2%.



The company anticipates FY25 EPS of $5.10 – $5.80 versus an estimate of $5.85. Capital <a href="https://www.benzinga.com/calendars/guidance">expenditure of $1.3 billion – $1.4 billion.</a>



Dollar General reaffirmed its plan to execute 4,885 real estate projects, including 575 new store openings, 2,000 remodels, and 45 store relocations in 2025. The company also updated its long-term financial framework.



Price Action: DG shares are trading higher by 7.76% at $80.66 in premarket at last check Thursday.



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<li><a href="https://www.benzinga.com/news/25/03/44275297/nokia-powers-canal-telecoms-fiber-network-expansion-in-the-caribbean" target="_blank" rel="noreferrer noopener">Nokia Powers Canal+ Telecom&#8217;s Fiber Network Expansion In The Caribbean</a></li>
</ul>



Photo via Shutterstock.

Earnings

Guidance

General

Dollar General Q4 Revenue Crushes Estimate As Sales In New Stores Pick Up; Stock Jumps

The Sam Altman-led OpenAI has put forth a proposal to the Trump administration, urging for a rapid acceleration in AI development and a reduction in regulation.



What Happened: OpenAI is making a bid for a significant role in the development and regulation of AI technology ahead of the submission of the "AI Action Plan&#8221; to President Donald Trump in July. The company presented a proposal that underscores the urgency of swift AI development and a lenient regulatory approach, while also spotlighting potential threats from AI technology originating from China, reported by <a href="https://www.cnbc.com/2025/03/13/openai-lobbies-trump-admin-to-focus-ai-on-speed-light-regulation.html">CNBC</a> on Thursday.



The proposal from OpenAI advocates for &#8220;the freedom to innovate in the national interest&#8221; and a &#8220;voluntary partnership between the federal government and the private sector&#8221; as opposed to &#8220;overly burdensome state laws.&#8221; The AI company also proposed an &#8220;export control strategy&#8221; for AI developed in the U.S. and the encouragement of worldwide adoption of American AI systems.



OpenAI also urged the government to partner with the private sector in advancing AI for national security purposes. The company recently introduced ChatGPT Gov, a product tailored specifically for use by the U.S. government.



The ChatGPT maker also advocated for &#8220;a copyright approach that supports the freedom to learn&#8221; and for &#8220;protecting the ability of American AI models to learn from copyrighted content.&#8221;



SEE ALSO: <a href="https://www.benzinga.com/25/03/44298251/rocket-lab-launches-next-gen-software-platforms-for-space-missions">Rocket Lab Launches Next-Gen Software Platforms For Space Missions</a>



Why It Matters: This proposal from OpenAI comes at a time when concerns about China&#8217;s potential dominance in the AI sector are growing. Earlier in March, former Google (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>) CEO Eric Schmidt warned the Trump administration of <a href="https://www.benzinga.com/markets/25/03/44185833/former-google-ceo-eric-schmidt-warn-of-nuclear-level-risks-in-global-superintelligent-ai-race-what-begins-as-a-push-for-a-superweapon">nuclear-level risks</a> in the global Superintelligent AI race. He also cautioned about the West's need to prioritize a combination of open and closed-source AI models to prevent China from taking the lead.



Similarly, in February, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) wrote to the Trump administration to <a href="https://www.benzinga.com/25/02/44035813/microsoft-urges-trump-to-avoid-this-critical-mistake-in-the-global-ai-race-cautions-it-will-give-china-a-strategic-advantage">alter the Biden-era</a> "AI Diffusion Rule," which might inadvertently strengthen China's rapidly expanding AI sector, as the rule deterred U.S. companies from building data centers in many ally nations of the U.S. classifying them as Tier Two. 



<ul>
<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44284821/apple-stock-takes-a-bite-out-of-investors-as-siri-fumbles-ai-race?utm_source=taboola&amp;utm_medium=exchange&amp;tblci=GiD1tFFNH-r-bulyXzVS-mm-BVNR3nb6Ojb3DSX9l1ZrFSCN1Vco0vfHxdr6zMCpATDviEo#tblciGiD1tFFNH-r-bulyXzVS-mm-BVNR3nb6Ojb3DSX9l1ZrFSCN1Vco0vfHxdr6zMCpATDviEo">Apple Stock Takes A Bite Out Of Investors As Siri Fumbles AI Race</a></li>
</ul>



Image via Shutterstock



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

GOOG

GOOGL

MSFT

Sam Altman's OpenAI Urges Trump Administration For Rapid AI Advancement And Reduced Regulation

Leading cryptocurrencies rose further on Wednesday as cooler inflation data boosted risk appetite.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.32%</td><td>$83,916.13</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.45%</td><td>$1,905.35</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.63%</td><td>$0.1723</td></tr></tbody></table></figure>



What Happened: Bitcoin surpassed $84,000 in the early morning hours, but profit-taking swiftly reversed the gains. The leading cryptocurrency progressively increased and stabilized in the $83,000 region.



The day saw video-sharing platform Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) announcing <a href="https://in.benzinga.com/25/03/44281569/rumble-buys-bitcoin-a-valuable-hedge-against-inflation">a $17 million Bitcoin purchase</a> for its Treasury.



Ethereum remained choppy in the $1,850-$1,950 zone as holders awaited a breakout above $2,000. The second-largest cryptocurrency's market dominance fell further to 8.5%, while Bitcoin maintained a 61.2% share.



Long liquidations hit $150 million, while $119 million in downside bets were erased in the last 24 hours. About $500 million in shorts risked liquidation if Bitcoin rallied to $86,800.



Bitcoin's Open Interest rose 1.44% over the last 24 hours. Interestingly, the number of traders positioned short on the apex digital asset surpassed longs, according to the Long/Short Ratio.



The market remained in the "Fear" zone, according to the Crypto Fear and Greed Index, suggesting potential for further downsides.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Pi (PI)</td><td>+24.57%</td><td>$1.77</td></tr><tr><td>Story (IP)</td><td>+15.18%</td><td>$6.25</td></tr><tr><td>Celestia (TIA)</td><td>+12.73%</td><td>$3.67</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.71 trillion, following an increase of 0.68% in the last 24 hours.



Major stock averages recuperated on Wednesday. The S&amp;P 500 rose 0.49% to close at 5,599.30. The tech-heavy Nasdaq Composite gained 1.22%, ending at 17,648.45. Conversely, the Dow Jones Industrial Average recorded the third straight losing day of the week, closing 0.20% lower at 41,350.93.



The recovery followed cooler-than-expected <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">February's consumer price index data</a>, reinforcing the Federal Reserve&#8217;s path toward interest rate cuts.



While the likelihood of rate cuts appeared slim at the March and May meetings, traders have priced in a 68% chance of a 25 basis point rate drop in June, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Well-known on-chain analytics firm Santiment noted a sharp jump in Tether's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) on-chain activity, with transfers hitting a six-month high.



"When USDT &amp; other stablecoin activity spikes during price drops, traders are preparing to buy. Added buy pressure aids in cryptocurrency prices recovering," Santiment added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4b8; Tether&#39;s on-chain activity has been rapidly rising, with over 143K wallets making transfers yesterday alone (a 6-month high). When <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> &amp; other stablecoin activity spikes during price drops, traders are preparing to buy. Added buy pressure aids in crypto prices recovering. <a href="https://t.co/siFOR7vSf7">pic.twitter.com/siFOR7vSf7</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1899903453557920067?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst Ali Martinez suspected an inverse head-and-shoulders pattern on Bitcoin's chart, potentially triggering a bullish breakout toward $91,000.



An inverse head and shoulders indicates a potential reversal from a negative trend to an upward trend



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If this is an inverse head-and-shoulders pattern, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could see a bullish breakout toward $91,000! <a href="https://t.co/35m6sNUc47">pic.twitter.com/35m6sNUc47</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1899873774415364426?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44287639/trump-appointed-sec-chair-could-fast-track-crypto-etf-approvals-xrp-solana-dogecoin-etfs-coming-by-june">Trump-Appointed SEC Chair Could Fast-Track Crypto ETF Approvals: XRP, Solana, Dogecoin ETFs Coming By June?</a></li>
</ul>

$DOGE

$ETH

$USDT

Bitcoin, Dogecoin Rise, Ethereum Trades Flat On Cooler-Than-Expected Inflation: Top Analyst Anticipates BTC's Bullish Breakout Toward $91,000

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will likely face <a href="https://www.benzinga.com/news/25/03/44285277/trump-buys-tesla-model-s-plaid-gary-black-calls-endorsement-potentially-huge-says-it-could-drive-1-7">near-term delivery challenges</a> before experiencing significant growth in 2026, according to Gene Munster, Managing Partner at Deepwater Asset Management.



What Happened: Munster wrote on X Wednesday that CEO Elon Musk &#8220;is bullish on Tesla&#8217;s output expansion, expecting it to double in the next couple of years.&#8221; However, Munster forecasts Tesla deliveries will decline 5% in 2025 before surging 40% in 2026.



This prediction comes as Musk announced Tesla&#8217;s commitment to doubling U.S. vehicle production within two years &#8220;in support of the policies of President Donald Trump&#8221; and to &#8220;demonstrate our confidence in the future of the United States.&#8221;



The expansion timeline aligns with previous company statements. Tesla mentioned plans to increase capacity by 60% this year during its last earnings report, which Munster notes implies &#8220;an additional 25% capacity growth in 2026.&#8221;



Munster acknowledged this expansion would be &#8220;negative for near-term cash flow and positive for long-term margins.&#8221; The key question, he added, is &#8220;will consumers buy that increased capacity?&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon is bullish on <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>&#39;s output expansion, expecting it to double in the next couple of years. On the last earnings report, the company mentioned to expect capacity to increase 60% this year, which means Elon&#39;s comment implies an additional 25% capacity growth in 2026. This…&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1899821634938151192?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/markets/25/03/44267663/ray-dalio-warns-us-debt-crisis-could-trigger-shocking-developments-calls-to-reduce-deficit-at-3-of-gdp">Ray Dalio Warns US Debt Crisis Could Trigger &#8216;Shocking Developments&#8217; Calls To Reduce Deficit At 3% Of GDP</a>



Why It Matters: Tesla faces significant headwinds. According to S&amp;P Global Mobility data, the company&#8217;s U.S. registrations dropped 11% in January while competitors saw a 44% increase. European registrations fell by more than 50% <a href="https://www.benzinga.com/25/03/44283118/tesla-loses-ground-in-us-ev-market-while-rivals-accelerate-ahead-in-january-report">year-over-year</a>.



Wedbush Securities analyst Dan Ives, despite maintaining a bullish outlook on Tesla, expressed <a href="https://www.benzinga.com/markets/equities/25/03/44268904/elon-musks-current-leadership-situation-is-not-sustainable-for-shareholders-says-tesla-bull-needs-to-strike-a-balance-with-doge">concerns about Musk&#8217;s divided attention</a> between Tesla and his role in Trump&#8217;s Department of Government Efficiency. Ives stated that the &#8220;current leadership situation is not sustainable for Tesla shareholders.&#8221;



Tesla&#8217;s stock has declined over 50% from recent highs, with protests emerging in the U.S. and Europe criticizing Musk&#8217;s political activities. The company&#8217;s first-quarter earnings report in April may provide crucial insights into whether it can <a href="https://www.benzinga.com/25/03/44283118/tesla-loses-ground-in-us-ev-market-while-rivals-accelerate-ahead-in-january-report">reverse these negative trends</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44267822/palantir-executive-pushes-pentagon-to-adopt-software-first-approach-noting-us-allocates-less-than-1-of-defense-budget-to-modern-battlefield">Palantir Calls For &#8216;Software-First Approach&#8217; As Pentagon Spends Under 1% On Modern Warfare</a></li>
</ul>



Image Via Shutterstock



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

TSLA

Elon Musk Expects Tesla Output To Double Over Next Couple Of Years, But Gene Munster Predicts Number To Drop Before A Surge In 2026

On Wednesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) and Rocket Lab USA Inc. (NCM: RKLB).



The Tempus AI Trade



Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) acquired 29,845 shares of Tempus AI, valued at approximately $1.36 million, based on the closing price of $45.50. This purchase aligns with Ark&#8217;s ongoing strategy to bolster its position in innovative technology sectors. Tempus AI recently announced its acquisition of Deep 6 AI, a move expected to enhance its network with over 750 provider site locations and access to more than 30 million patients. This acquisition is anticipated to strengthen Tempus AI&#8217;s market presence and capabilities.



Furthermore, Tempus AI&#8217;s recent earnings report revealed a <a href="https://in.benzinga.com/news/earnings/25/02/43927560/tempus-ai-q4-earnings-revenue-miss-eps-beat-strong-guidance-shares-move-lower">revenue miss but an earnings-per-share beat</a>, coupled with strong future guidance. The strategic acquisition of Deep 6 AI and the positive earnings outlook underscore Tempus AI&#8217;s potential for growth, making it an attractive investment.



Wood has been <a href="https://www.benzinga.com/25/03/44267113/ark-invests-strategic-moves-tempus-ai-block-inc-and-draftkings-inc-in-focus">loading up on Tempus AI stock</a> in recent days. On Tuesday, Ark purchased $4.29 million worth of stock, while on Monday, amid the tech meltdown, the firm had scooped up stock worth $13.23 million.



The Rocket Lab Trade



Ark Invest also made notable moves involving Rocket Lab. The ARK Autonomous Technology &amp; Robotics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#NYSE">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#NYSE">ARKX</a>) collectively sold 41,839 shares of Rocket Lab, valued at approximately $771,092, based on the closing price of $18.43. This sale comes amid Rocket Lab&#8217;s recent announcement of being selected by Airbus SE to <a href="https://in.benzinga.com/25/03/44275713/why-rocket-lab-stock-is-gaining-today">supply solar panels</a> for 100 OneWeb Low Earth Orbit satellites, a development that has positively impacted Rocket Lab&#8217;s stock price.



Additionally, Rocket Lab recently inked a non-binding term sheet to acquire a controlling stake in Mynaric AG for $75 million, with an additional earn-out tied to future revenue targets. This acquisition aims to enhance Rocket Lab&#8217;s satellite technology capabilities, further solidifying its position in the aerospace sector.



Other Key Trades:



<ul>
<li>Sold 9,961 shares of CareDx Inc (CDNA) from ARKG.</li>



<li>Bought 8,890 shares of CRISPR Therapeutics AG (CRSP) for ARKK and 1,781 shares for ARKG.</li>



<li>Bought 15,095 shares of Intellia Therapeutics Inc (NTLA) for  ARKK and 3,025 shares for ARKG.</li>



<li>Bought 4,847 shares of AeroVironment Inc (AVAV) for ARKQ and 3,093 shares for ARKX.</li>
</ul>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44283669/this-pepsico-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-wednesday">This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ARKK

ARKQ

ARKX

RKLB

Cathie Wood's Wednesday Moves: Ark Pours $1.36 Million Into Tempus AI Shares Following Deep 6 AI Acquisition, Offloads Rocket Lab Stock

Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) announced first-quarter financial results Wednesday after the bell. Here&#8217;s a rundown <a href="http://benzinga.com/quote/adbe">of the report</a>.



Q1 Earnings: Adobe reported first-quarter revenue of $5.71 billion, beating the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $5.66 billion. The company reported first-quarter adjusted earnings of $5.08 per share, beating analyst estimates of $4.97 per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Total revenue was up 10% year-over-year. Broken down by segment, digital media revenue was up 11% year-over-year and digital experience revenue climbed 10% year-over-year.



Remaining performance obligations came in at $19.69 billion and cash flows from operations totaled $2.48 billion in the first quarter. 



Adobe noted it repurchased approximately seven million shares during the period. The company ended the quarter with $6.76 billion in cash and cash equivalents.



&#8220;Adobe&#8217;s success over the next decade will be driven by customer-focused innovation and new offerings for creators, marketing professionals, business professionals and consumers,&#8221; said&nbsp;Shantanu Narayen, chair and CEO of Adobe.



&#8220;Adobe is well-positioned to capitalize on the acceleration of the creative economy driven by AI and we are reaffirming our FY2025 financial targets.&#8221;



See Also: <a href="https://www.benzinga.com/25/03/44284016/tesla-to-120-here-are-10-top-analyst-forecasts-for-wednesday">Tesla To $120? Here Are 10 Top Analyst Forecasts For Wednesday</a>



Outlook: Adobe expects second-quarter revenue of $5.77 billion to $5.82 billion versus estimates of $5.8 billion. The company anticipates second-quarter adjusted earnings of $4.95 to $5 per share versus estimates of $5 per share.



Adobe reaffirmed expectations for full-year 2025 revenue between $23.3 billion and $23.55 billion versus estimates of $23.5 billion. Adobe sees full-year adjusted earnings in the range of $20.20 to $20.50 per share versus estimates of $20.40 per share.



Adobe noted it will host an Investor Meeting on March 18 at the Adobe Summit to provide updates on its strategy and roadmap.



Adobe executives will further discuss the quarter on a call with investors and analysts from 5 p.m. to 6 p.m. ET.



ADBE Price Action: <a href="https://www.benzinga.com/quote/ADBE" target="_blank" rel="noreferrer noopener">Adobe shares</a> were down 3.33% after-hours, trading at $438.60 at the time of publication on Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Photo: Shutterstock.

After-Hours Center

ADBE

Adobe Q1 Earnings: Revenue Beat, EPS Beat, Reaffirmed FY Guidance And More

Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is set to release its fourth-quarter financial results ahead of Thursday's opening bell. Here's a look at what to <a href="https://www.benzinga.com/content/43900679/these-3-defensive-retail-stocks-are-outpacing-the-market">expect in the report. </a>



What To Watch: Wall Street is looking for updates on Dollar General's quarterly revenue and profit margins as mega-retailers like Walmart and Amazon have been capturing market share. 



Cash-strapped and value-conscious consumers are visiting discount retailers more frequently in the current high-inflation environment.



According to<a href="https://www.placer.ai/blog/discount-and-dollar-stores-in-a-strong-position-to-start-2025"> data </a>from Placer.ai, Dollar General's foot traffic grew 5.1% in 2024 along with the number of weekday visits, as demand for everyday essentials grew. Additional foot traffic and visits could translate into higher revenues for the retailer.&nbsp;



Read More: <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day</a>&nbsp;



Investors will be watching the company's guidance and commentary for insight into the potential effects of tariffs on goods imported from China. Tariffs could significantly impact Dollar General&#8217;s profit margins, as the company imports a portion of its products from China. Increased costs could be passed on to consumers, potentially affecting future sales volumes. 



According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report quarterly earnings of $1.50 per share on revenue of $10.26 billion. Dollar General has missed analysts' profit estimates for the last two quarters.&nbsp;



DG Price Action: Dollar General shares ended Wednesday's session down 4.82% at $74.85, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro.&nbsp;</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">Markets Tank After Trump Confirms More Tariffs: Here&#8217;s What Wall Street Is Saying</a></li>
</ul>



Photo: Shutterstock

Previews

Dollar General Q4 Earnings Preview: Revenue, Profit Margins, Tariffs In The Spotlight

Bitcoin and Ethereum struggle to maintain gains, while XRP rallies on optimism over the SEC potentially closing its case against Ripple. 



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$82,997.45</td><td>-0.13%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$1,876.24</td><td>-3.7%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$124.56</td><td>-2.1%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.23</td><td>+2.5%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1689</td><td>+1.3%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001229</td><td>+0.8%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 5.2% and daily active addresses falling by 3.4%. Transactions greater than $100,000 are down from 11,844 to 10,766 in a single day. Exchanges netflows are down by 100.9%.</li>



<li>Coinglass data reports 97,058 traders were liquidated in the past 24 hours for $281.42 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44281794/binance-secures-2-billion-investment-from-abu-dhabi-mgx">Binance Secures $2 Billion Investment From Abu Dhabi MGX</a></li>



<li><a href="https://in.benzinga.com/25/03/44281569/rumble-buys-bitcoin-a-valuable-hedge-against-inflation">Rumble Buys Bitcoin: &#8216;A Valuable Hedge Against Inflation&#8217;</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44272805/bitwise-launches-etf-tracking-firms-with-over-1000-bitcoin">Bitwise Launches ETF Tracking Firms With Over 1,000 Bitcoin</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44275216/bitcoin-to-defy-trump-tariffs-recession-fears-will-hit-200000-by-end-of-2025-standard-chartered">Bitcoin To Defy Trump Tariffs, Recession Fears, Will Hit $200,000 By End Of 2025: Standard Chartered</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44280122/after-vladimir-putin-said-nobody-can-ban-bitcoin-the-bank-of-russia-is-looking-to-allow-crypto-purchases">After Vladimir Putin Said &#8216;Nobody Can Ban Bitcoin&#8217;, The Bank Of Russia Is Looking To Allow Crypto Purchases</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Pi (CRYPTO: PI)</td><td>&nbsp;$1.70</td><td>+21.5%</td></tr><tr><td>Celestia (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TIA</a>)</td><td>&nbsp;$3.58</td><td>+16%</td></tr><tr><td>Story (CRYPTO: IP)</td><td>&nbsp;$6.04</td><td>+9.7%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Intuitio <a href="https://x.com/intuitio_/status/1899854521553006880">argues</a> that Bitcoin has only had a taste of the bull market, while Ethereum never truly experienced one—it was merely in an echo bubble that has now deflated. 



With BTC retesting its previous all-time high, he believes the claim that "the bull run hasn't even begun" may hold weight.



Jelle <a href="https://x.com/CryptoJelleNL/status/1899839832035058101">sees</a> bears still in control, noting that Monday's highs were swept, followed by a lower low after a series of higher lows.



 He warns that when bearish setups play out cleanly, there's no reason to chase short-term upside—instead, patience is key.



Moustache aka El Crypto Prof points out that the last time the S&amp;P 500's daily RSI was this low, Bitcoin rallied over 300% afterward. With both BTC and the S&amp;P 500 touching a key trendline, he believes this could be a bullish signal.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> The last time the RSI in the S&amp;P 500 (D) was this low, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rose more than 300% thereafter. -Both assets are also touching a very important trend line Be more bullish guys. <a href="https://t.co/SLuHrzk7ZF">pic.twitter.com/SLuHrzk7ZF</a>&mdash;

$SHIB

$SOL

$TIA

$XRP

Bitcoin, Ethereum Slip, XRP, Dogecoin Hold Gains On Slow Wednesday

JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon is no stranger to making bold predictions about the economy. His latest comments suggest storm clouds <a href="https://www.benzinga.com/25/03/44270128/us-recession-probability-escalates-to-35-amid-tariffs-pimco-sounds-alarm">could be forming once again</a>.



What To Know: At the 2025 National Retirement Summit hosted by BlackRock and Semafor on Wednesday, Dimon warned that he sees a weakening of the economy and negative sentiment, according to an X <a href="https://x.com/SpencerHakimian/status/1899879996304273725">post</a> from Tolou Capital Management founder Spencer Hakimian. The post also indicates that Dimon believes tariffs are causing uncertainty.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x2A;JP MORGAN&#39;S CEO DIMON: SEEING WEAKENING IN ECONOMY, NEGATIVE SENTIMENT &#x2A;DIMON SAYS TARIFFS ARE CAUSING UNCERTAINTY Most important private sector human on earth telling it to you straight up.&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1899879996304273725?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Semafor Principals editor Morgan Chalfant also reported similar details from the event in a separate X <a href="https://x.com/mchalfant16/status/1899878158389719290">post</a>. Chalfant noted that although Dimon said <a href="https://www.benzinga.com/25/02/43564020/consumer-sentiment-sinks-economist-flags-unusually-large-rise-in-inflation-perception">consumer sentiment is weakening</a>, the JPMorgan chief indicated that he doesn&#8217;t believe the average American &#8220;changes what they&#8217;re going to do&#8221; because of tariffs.



Dimon isn&#8217;t always spot-on with his predictions. In late 2022, he warned that an <a href="http://www.benzinga.com/news/22/10/29208975/jamie-dimon-warns-of-u-s-recession-in-6-9-months-says-jp-morgan-preparing-for-economic-hurricane" target="_blank" rel="noreferrer noopener">economic &#8220;hurricane&#8221;</a> was coming in mid-2023.



Dimon later walked back those comments after data showed otherwise.



&#8220;I shouldn't ever use the word hurricane, but &#8230; there were storm clouds,&#8221; Dimon <a href="https://www.benzinga.com/news/23/01/30358567/i-shouldnt-ever-use-the-word-hurricane-jamie-dimon-says-storm-clouds-remain-but-the-consumer-is-roll">said</a> in a 2023 interview.



It&#8217;s not clear if Dimon sees &#8220;storm clouds&#8221; over the economy this time around, but he at least appears to be taking a cautious stance. 



Price Action: <a href="http://benzinga.com/quote/jpm">JPMorgan shares</a> were up 0.61% at $230.50 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44280431/cpi-reactions">Inflation Moves In The &#8216;Right Direction&#8217; But Forecast Is Hazy, Economist Says</a></li>
</ul>



Photo: Shutterstock.

Events

Jamie Dimon Warns Of Economic Weakening, Negative Consumer Sentiment

Tesla Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) trend might not be in a good space. The <a href="https://www.benzinga.com/topic/tesla" target="_blank" rel="noreferrer noopener">new U.S. registrations</a> for the Elon Musk led electric vehicle maker slipped 11% in January 2025, while rival registrations noted a 44% rise, led by Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), Chevrolet, and Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), Automotive News <a href="https://www.autonews.com/tesla/an-tesla-us-sales-fall-as-evs-rise-overall-0312/#:~:text=U.S.%20registrations%20sink%2011%25%20in%20January%20as%20EV%20rivals%20surge%2044%25&amp;text=Tesla's%20new%20U.S.%20registrations%20fell,S%26P%20Global%20Mobility%20data%20showed." target="_blank" rel="noreferrer noopener">cited</a> S&amp;P Global Mobility data on Wednesday.



Another report last week from the <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43934934/new-tesla-registrations-dip-by-50-in-eu-in-january-despite-rising-overall-bev-market-share" rel="noreferrer noopener">auto industry body</a> said 7,517 new Tesla cars were registered in the E.U. in January,&nbsp;down from 15,130 in 2024.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/25/03/44229408/alibaba-unveils-new-ai-chip-to-power-chinas-open-source-tech-push-challenge-us-chip-giants" rel="noreferrer noopener">Alibaba Unveils New AI Chip To Power China&#8217;s Open-Source Tech Push, Challenge US Chip Giants</a>



According to the European Automobile Manufacturers Association (ACEA), Tesla&#8217;s new car registration&nbsp;in the E.U. fell by over 50%&nbsp;in January despite a rise in overall battery electric vehicle registrations.



According to the Society of Motor Manufacturers and Traders (SMMT) data, Tesla had <a target="_blank" href="https://www.benzinga.com/tech/25/02/43520687/byd-overtakes-tesla-in-uk-after-elon-musk-led-ev-makers-new-vehicle-registrations-drop-in-january" rel="noreferrer noopener">1,458 registrations in</a> January in the U.K., down from the 1,581 registered in 2024. BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), in comparison, had 1,614 registrations, up by 551%.



Tesla researcher&nbsp;Troy Teslike&nbsp;said the EV company would likely not deliver 500,000 vehicles in a quarter in 2025, citing <a target="_blank" href="https://www.benzinga.com/tech/25/02/43967968/tesla-unlikely-to-deliver-500000-evs-in-a-quarter-in-2025-says-researcher-doesnt-seem-possible-this-year-either" rel="noreferrer noopener">brand sentiment issues</a>.



On the flip side, Tesla chief Elon Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/03/44269513/elon-musk-says-tesla-will-double-us-production-in-2-years-after-trump-backs-ev-giant-amid-stock-slump" rel="noreferrer noopener">has announced that</a> Tesla&nbsp;will double vehicle production in the U.S. within two years.



Recently, President Donald Trump transformed the White House to showcase Tesla vehicles in solidarity with&nbsp;his senior advisor and de facto head of the Department of Government Efficiency (DOGE), Musk and his company. Trump also&nbsp;purchased a Tesla Model S Plaid.



Musk has acknowledged the challenges of running his business while working with DOGE amid a massive decline in Tesla&#8217;s stock price.&nbsp;



Tesla has faced protests against the company in the U.S. and Europe, with demonstrators criticizing Musk&#8217;s political activities.&nbsp;



According to <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/united-states" rel="noreferrer noopener">Statista</a>, the EV market in the U.S. could generate revenue of $104.7 billion in 2025 <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/united-states" rel="noreferrer noopener">and grow at an annual</a> rate (CAGR 2025-2029) of 10.53%, resulting in a projected market volume of $156.3 billion by 2029. Tesla&#8217;s upcoming earnings in April might be a good proxy for the recent reports on declining trends.



Price Action: TSLA stock is up 7.60% at $248.11 at last check Wednesday.



Also Read:



<ul>
<li><a href="https://www.benzinga.com/media/25/03/44229157/apple-supplier-foxconn-unveils-ai-model-using-nvidia-tech" target="_blank" rel="noreferrer noopener">Apple Supplier Foxconn Unveils AI Model Using Nvidia Tech</a></li>
</ul>



Photo via Shutterstock

Tech

Media

BYDDY

VWAGY

Tesla Loses Ground in US EV Market While Rivals Accelerate Ahead in January: Report

February's Consumer Price Index report released Wednesday came in cooler-than-expected and bolstered Wall Street's expectations for rate cuts in the months ahead. Here's a look at economists' reactions to <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44275575/wall-street-rockets-as-february-inflation-cools-more-than-expected">the latest inflation data.&nbsp;&nbsp;</a>



What To Know: Headline inflation eased slightly to 2.8% year-over-year, and core CPI, which strips out food and energy prices, slowed to 3.1%. Following the inflation print, traders fully priced in three Federal Reserve rate cuts in 2025, according to the CME FedWatch Tool.



Read Next: <a href="https://www.benzinga.com/25/03/44277920/mortgage-applications-soar-as-rates-hit-lowest-level-since-october">Mortgage Applications Soar As Rates Hit Lowest Level Since October</a>



Expert Ideas: Bill Adams, chief economist for Comerica Bank, said that inflation is moving in the "right direction," making it more likely that the Fed will cut rates. Comerica forecasts a single 0.25% interest rate cut in 2025, likely occurring in July.



However, the Fed forecast is hazy given the uncertainty surrounding future Trump administration policies.&nbsp;



"The range of outcomes feels wider than usual given the unpredictability of the policies affecting prices and the job market," Adams said.&nbsp;



Chris Zaccarelli, chief investment officer for Northlight Asset Management, also highlighted the increased economic and geopolitical uncertainty and pointed to the lower rate of inflation, which allows the Fed to support a struggling economy with rate cuts if needed.



"If all of these policy changes lead to a weaker dollar, an increase in geopolitical uncertainty, and a loss of the exorbitant privilege of having the world&#8217;s reserve currency, then many of the lessons that investors have learned over the previous eight decades will need to be forgotten," Zaccarelli warned.&nbsp;



While markets were relieved with the cool inflation report on Wednesday, price increases following the pandemic have added up over the past five years. Charlie Bilello, chief market strategist for Creative Planning, featured a list on social media showing U.S. home prices up 52.3% and auto insurance 55.4% higher.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Price Increases over last 5 years&#8230; CPI Medical Care: +12.3% CPI New Cars: +20.3% CPI Shelter: +26.6% CPI Food at home: +27.4% CPI Gasoline: +27.6% CPI Food away from home: +30.1% CPI Electricity: +32.7% CPI Used Cars: +35.1% CPI Transportation: +36.2% CPI Fuel Oil: +41.9% CPI…&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1899809167025516658?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Market Reactions: U.S. markets were mixed in late morning trading with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500, flat at $555.92 and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tracking the Nasdaq 100, up 0.47% at $473.81.&nbsp;



The benchmark 10-year yield rose slightly to 4.29%. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), tracking the price of gold, rose 0.17% to $269.61.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/44015237/pending-home-sales-crash-to-record-low-jobless-claims-soar-wall-street-reacts">Pending Home Sales Crash To Record Low, Jobless Claims Soar: Wall Street Reacts</a></li>
</ul>



Image: Shutterstock

Inflation Moves In The 'Right Direction' But Forecast Is Hazy, Economist Says

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