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OneConnect Financial Tech

OneConnect Financial Technology Co Ltd is a technology-as-a-service provider for the financial services industry. It integrates extensive expertise in the industry with market technology to provide technology applications and technology-enabled business services to financial institutions. The integrated solutions and platforms it provides include digital banking solutions, digital insurance solutions, and the Gamma Platform, a technology infrastructure platform for financial institutions. Geographically, the company generates substantially all of its revenue from its business in the People's Republic of China (PRC).

OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty ordinary shares

OneConnect Financial Technology Co Ltd

At Berkshire Hathaway's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) 2023 annual meeting, CEO Warren Buffett shared a rare insight into why See's Candies, a beloved West Coast confectioner owned by the conglomerate since 1972, hasn't expanded successfully beyond its core markets.
What Happened: "We have this wonderful brand that doesn't travel," Buffett said. "The mystique, the actual product, the feelings people have about some things… it's limited to given markets."
Despite See's strong economy in California and the western U.S., attempts to replicate that success elsewhere repeatedly fell short.
"We tried everything in the world to move the brand… and we always think we were right for the first week," Buffett said. "Then we find out that the magic—we can beat any other candy store pretty much—but there aren't any candy stores anymore to speak of, as the world has changed."
See Also: <a href="https://www.benzinga.com/markets/25/05/45183000/warren-buffetts-right-hand-man-greg-abel-is-quietly-taking-over-day-to-day-leadership-at-berkshire-hathaway-gotten-much-more-involved-in-capital-allocation-decisions">Warren Buffett&#8217;s Right-Hand Man Greg Abel Is Quietly Taking Over Day-To-Day Leadership At Berkshire Hathaway: &#8216;Gotten Much More Involved In Capital Allocation Decisions&#8217;</a>
Buffett compared See's regional success to Dr Pepper's dominance in certain markets like Dallas–Fort Worth, noting that even national advertising and widespread awareness can't override local preferences.
"There are all kinds of crazy things in the world that consumers do," he added, pointing out that East Coast customers prefer dark chocolate, while West Coast buyers gravitate toward milk chocolate.
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Why It's Important: See's Candies began in 1921 when Charles See and his family opened their first shop in Los Angeles, offering chocolates based on his mother Mary See's original recipes.
The company quickly earned a reputation for quality and freshness, building a loyal customer base across California. A major turning point came in 1972 when Buffett and Charlie Munger's Berkshire Hathaway acquired See's for $25 million.
What began as a modest operation with $30 million in annual revenue and under $5 million in pretax income grew into a confectionery powerhouse, generating over $380 million in annual sales and $80 million in profits, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323#a-return-of-8000-1">reported</a> Markets Insider in 2019.
Buffett's admiration for See's is also no secret. During shareholder meetings, he famously keeps a box of See's peanut brittle close by.
Photo Courtesy: Photo Agency on Shutterstock.com
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/earnings/25/02/43901149/buffett-reflects-on-60-years-at-berkshire-helm-cardinal-sin-is-delaying-the-correction-of-mistakes" target="_blank" rel="noreferrer noopener">Buffett Reflects on 60 Years at Berkshire Helm: ‘Cardinal Sin Is Delaying the Correction of Mistakes&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Tech

Warren Buffett Has Discovered There's No Accounting For Tastes Through Berkshire's Candy Company: 'There Are All Kinds Of Crazy Things In The World That Consumers Do'

Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) blockbuster quarter has drawn reactions from top investors, with Ross Gerber slamming <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45629142/nvidia-q1-earnings-preview-analyst-cautions-on-macro-uncertainty-china-restrictions-stay-long-the-stock">U.S. policy on China</a>. At the same time, Deepwater Asset Management's Gene Munster has urged Wall Street to focus on the chipmaker's explosive AI growth.
What Happened: Nvidia <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong">reported first-quarter revenue</a> of $44.1 billion, up 69% year-over-year and ahead of Wall Street's $43.2 billion estimate.
"Another impressive qtr from Nvidia despite [Donald] Trump basically destroying their China business for now," said Gerber, CEO of Gerber Kawasaki on X, formerly Twitter. "At some point maybe the U.S. will understand the advantages of having China being dependent on our technology."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another impressive qtr from Nvidia despite Trump basically destroying their China business for now. At some point maybe the US will understand the advantages of having China being dependent on our technology… <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1927845155647721692?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44897214/nvidia-discusses-ai-powering-future-with-japan-amid-rising-energy-demands" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Jensen Huang Meets Japanese PM To Discuss AI&#8217;s Growing Energy Needs</a>
Meanwhile, Munster <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">downplayed the China hit</a>, suggesting investors should zoom in on Nvidia's core business. &#8220;Forget the China curbs. $NVDA&#8217;s business is off the charts good,&#8221; he said on social media.
&#8220;[Nvidia&#8217;s] core business is on fire and is evidence that we&#8217;re still early in the AI infrastructure buildout,&#8221; he said on his Pressure Points show.&nbsp;
Munster stated that if the $2.5 billion revenue loss from China in the April quarter were excluded, Nvidia's year-over-year growth would have reached 79%. Similarly, adjusting for the expected $8 billion China hit in the July quarter would still imply 76% revenue growth, well above Wall Street's 60% forecast.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Forget the China curbs. <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>&#39;s business is off the charts good. <a href="https://t.co/eSmHWeWG5f">pic.twitter.com/eSmHWeWG5f</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1927886052770893883?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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Why It's Important: On April 9, Nvidia was hit with an export ban affecting its H20 products bound for China. As a result, the company recorded a $4.5 billion charge in the first quarter tied to <a href="https://www.benzinga.com/tech/25/05/45309175/nvidia-modifies-h20-chip-for-china-after-us-restrictions-block-sales-aims-to-deliver-new-version-by-july-report">unsold H20 inventory</a> and existing purchase commitments.
Before the new export rules took effect, H20-related sales for the quarter totaled $4.6 billion. Nvidia noted that, excluding the impact of this charge, its adjusted earnings per share for the quarter would have been 96 cents.
Previously, it was reported that Nvidia is preparing to <a href="https://www.benzinga.com/markets/equities/25/05/45605521/after-jensen-huang-criticized-us-export-curbs-nvidia-set-to-launch-cheaper-blackwell-ai-chip-for-china-amid-market-share-slide-report">introduce a much more affordable</a> artificial intelligence chip for the Chinese market, with prices ranging from $6,500 to $8,000.
Earlier this month, Nvidia CEO Jensen Huang reportedly told U.S. lawmakers that current <a href="https://www.benzinga.com/25/05/45157365/nvidia-ceo-jensen-huang-warns-us-lawmakers-that-export-bans-are-backfiring-fueling-huaweis-rise-in-global-ai-chip-race">export limits on AI chips could be giving</a> Huawei Technologies an advantage, potentially strengthening the Chinese company's position in the global AI competition.
Price Action: Nvidia shares rose 4.89% in after-hours trading, reaching $141.40, after slipping 0.51% during Wednesday's regular session, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Nvidia also holds a strong growth score of 98.75% on Benzinga Edge Stock Rankings — <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click here to compare it with other leading tech stocks</a>.
<figure class="wp-block-image 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/2025/05/28213900/Screenshot-2025-05-29-at-7.06.23%E2%80%AFAM.png" alt="" class="wp-image-930743" /></a></figure>
Photo Courtesy: Hepha1st0s On Shutterstock.com
Read More:
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<li><a href="https://benzinga.com/news/25/04/44735140/most-people-dont-have-the-balls-to-do-it-says-mark-cuban-praising-musk-for-going-all-in-with-his-own-money-f" target="_blank" rel="noreferrer noopener">‘Most People Don't Have The B&#x2A;&#x2A;ls To Do It,' Says Mark Cuban, Praising Musk For Going ‘All In' With His Own Money For His Startups</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

NVDA

Ross Gerber Blasts Trump For 'Destroying' Nvidia's China Business — Gene Munster Says 'Forget About The China Curbs' Because The Chip Giant's Core Business Is 'On Fire'

Economist and market commentator Peter Schiff slammed Vice President&nbsp;JD Vance&#8217;s support for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) at an ongoing cryptocurrency conference Wednesday.
What Happened: Schiff took to X to challenge several remarks made by Vance at the Bitcoin 2025 conference in Las Vegas.
Schiff disputed Vance&#8217;s assertion that Bitcoin has created new wealth. &#8220;What has happened is a massive transfer of wealth from those who bought Bitcoin and crypto early to those who bought later. In the process, capital has been misallocated and resources squandered,&#8221; he argued.
Schiff also questioned Vance&#8217;s view of Bitcoin as a hedge against poor government policy and rising inflation, arguing that gold and silver &#8220;deliver the needed protection.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At Bitcoin 2025, JD Vance spoke about all the wealth created by Bitcoin and crypto. No actual wealth was created, as these tokens do not represent wealth. What has happened is a massive transfer of wealth from those who bought Bitcoin and crypto early to those who bought later.…
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1927799589601694166?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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The staunch Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) critic took potshots at the Trump administration, asking it to implement &#8220;good&#8221; inflation-reducing policies rather than encouraging Americans to buy the wrong asset as a hedge after enacting &#8220;bad&#8221; ones.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45635887/trumps-crypto-advisor-about-us-plans-on-buying-more-bitcoin-it-all-boils-down-to" target="_blank" rel="noreferrer noopener">Trump&#8217;s Crypto Advisor About US Plans On Buying More Bitcoin: It All Boils Down To&#8230;</a>
Why It Matters: Schiff&#8217;s comments come <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45652549/vice-president-jd-vance-predicts-100m-bitcoin-holders-the-us-ought-to-be-leaning-into-bitcoin">after Vance predicted a big surge in Bitcoin adoption</a> in the U.S. &nbsp;He framed the apex cryptocurrency not only as a financial innovation but as a strategic asset that the U.S. must formally embrace to maintain global economic leadership.
Interestingly, Schiff himself was participating at the 3-day conference. During a fireside chat, he made cheeky remark ,saying, &#8220;I&#8217;m likely responsible for more people owning Bitcoin than any other individual. Every time I tell you not to buy Bitcoin you buy more."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">PETER SCHIFF: Based on what I heard at <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> 2025 "I&#39;m likely responsible for more people owning Bitcoin than any other individual." "Every time I tell you not to buy Bitcoin you buy more." &#x1f60e; <a href="https://t.co/zrxC6AQcZ5">pic.twitter.com/zrxC6AQcZ5</a>
&mdash; The Bitcoin Conference (@TheBitcoinConf) <a href="https://twitter.com/TheBitcoinConf/status/1927870647394287922?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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Price Action:  At the time of writing, BTC was exchanging hands at $108,237.40, down 0.97% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo Courtesy: Phil Mistry on Shutterstock.com 
Read Next: 
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45626262/trump-meme-coin-dinner-turned-into-high-net-worth-crypto-networking-trump-was-there-for-20" target="_blank" rel="noreferrer noopener">TRUMP Meme Coin Dinner Turned Into High-Net-Worth Crypto Networking: &#8216;Trump Was There For 20 Minutes&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

$BTC

JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: 'What Has Happened Is A Massive Transfer Of …'

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Contracts

MRNA

'HHS Cancels Moderna's $590M Bird Flu Vaccine Award' - Axios

U.S. stock futures are rallying Wednesday evening after a Federal Court ruled that President Donald Trump overstepped his authority with the &#8220;Liberation Day&#8221; tariffs imposed at the beginning of April. 
Following the ruling, the S&amp;P 500 Futures are up 1.50%, at 5,991.25, Nasdaq Futures trading at 21,775.75, up 1.85%, followed by Dow Futures rose over 400 points to 42,635.00, soaring 1.10% on the news.
A three-judge panel on the Manhattan-based U.S. Court of International Trade <a href="https://www.benzinga.com/25/05/45660322/trump-tariffs-struck-down-by-federal-court-major-blow-to-white-houses-trade-strategy-report">ruled unanimously</a> on Wednesday that the Constitution gives Congress exclusive authority to regulate trade and commerce with other countries, which the&nbsp;International Emergency Economic Powers Act does not override.
See Also: <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong">Nvidia Q1 Highlights: China Export Ban Hits Results But Jensen Huang Says Demand &#8216;Incredibly Strong&#8217; (CORRECTED)</a>
The White House has since filed an appeal against this ruling, which could jeopardize its strategies and ongoing negotiations with several trade partners.
The ruling has sparked a surge in retail stocks in after-hours trading, with Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) up 1.54%, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rallying 3.51%, followed by Shopify Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NASDAQ">SHOP</a>) and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) up 3.55% and 3.19%, respectively.
Japan&#8217;s benchmark Nikkei 225 index opened higher, currently trading up 1.49%, or 563.12 points, at 38,285.52 on the news, despite growing concerns of <a href="https://www.benzinga.com/news/global/25/05/45613069/japans-40-year-bond-yield-nosedives-as-finance-ministry-considers-cutting-super-long-debt-issuance-report">rising 40-Year bond yields</a>. The rally is being led by major exporters, electronics and automotive stocks.
The U.S. Dollar Index (DXY) is up 0.51% on Wednesday, regaining the key 100 level, trading at 100.389.
Following Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) beat on its first quarter earnings on Wednesday, investors will be closely watching the results of Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and Zscaler Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) on Thursday.
Photo Courtesy: Billion Photos on Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/previews/25/05/45659554/costco-wholesale-q3-earnings-preview-will-company-discuss-price-increases-after-prior-trump-team-backlash">Costco Wholesale Q3 Earnings Preview: Will Company Discuss Price Increases After Prior Trump Team Backlash?</a></li>
</ul>

Pre-Market Outlook

AMZN

COST

DELL

MRVL

SHOP

Dow Futures Jump Over 400 Points, Amazon And Walmart Shares Spike In After-Hours Trading After Court Blocks Trump Tariffs: Nikkei Opens Higher

On Wednesday, Cathie Wood&#8216;s Ark Invest made notable trades involving Tesla Inc. and Tempus AI Inc. . These trades come amid significant developments for both companies, with Tesla&#8217;s insider sales raising eyebrows and Tempus AI facing scrutiny from short sellers.
The Tesla Trade
Ark Invest&#8217;s flagship fund, ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>), executed a sale of 15,817 shares of Tesla on Wednesday. Tesla shares ended the day at $356.90, valuing the transaction at $5.6 million.
The Ark transaction aligns with a broader trend of insider sales at Tesla, reported on the same day. Two board members of Tesla have reportedly <a href="https://www.benzinga.com/news/insider-trades/25/05/45651670/tesla-insider-sales-increase-ahead-of-robotaxi-launch-kimbal-musk-ira-ehrenpreis-sell-190m">sold nearly $200 million worth of shares</a> ahead of the company&#8217;s anticipated robotaxi launch in Texas. The insider sales, the latest being from Ira Ehrenpreis and Kimbal Musk, could signal potential concerns, especially as Tesla grapples with challenges such as a 13% drop in deliveries and increasing inventory levels. The sale of Tesla shares by Ark Invest adds to the ongoing narrative surrounding the electric vehicle giant&#8217;s current market position.
Wood <a href="https://www.benzinga.com/25/05/45635104/cathie-wood-dumps-9-9m-tesla-despite-musks-24-7-pledge-loads-up-on-nvidia-before-earnings">dumped $9.9 million</a> worth of Tesla shares on Tuesday, even after CEO Elon Musk said that he is committed to spending &#8220;24/7&#8221; at work. On Wednesday, Musk officially announced that his &#8220;scheduled time&#8221; as special government employee had come to an end. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As my scheduled time as a Special Government Employee comes to an end, I would like to thank President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> for the opportunity to reduce wasteful spending. The <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> mission will only strengthen over time as it becomes a way of life throughout the government.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1927877957852266518?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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The Tempus AI Trade
Ark Invest made a significant move by purchasing shares of Tempus AI Inc. across its ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARKK funds. The ARKG fund acquired 34,299 shares, while ARKK added 216,781 shares to its portfolio. Tempus AI shares ended Wednesday at $53.20, the total transaction was valued at $13.36 million.
This acquisition comes at a time when Tempus AI is <a href="https://www.benzinga.com/25/05/45648906/tempus-ai-stock-sinks-after-short-seller-flags-ceo-track-record-suspicious-accounting-50-downside-potential">under scrutiny</a> from Spruce Point Capital Management, a short seller that has raised concerns about the company&#8217;s management and accounting practices. The short seller&#8217;s report, titled &#8220;The Tempest Surrounding Tempus AI,&#8221; has contributed to a decline in Tempus AI&#8217;s stock price. Despite these challenges, Ark Invest&#8217;s purchase indicates a continued belief in Tempus AI&#8217;s potential within the AI sector.
Other Key Trades:
<ul class="wp-block-list">
<li>Sold 319,981 shares of Adaptive Biotechnologies Corp from ARKG.</li>
<li>Sold 67,261 shares of Roblox Corp from ARKK.</li>
<li>Bought 134,023 shares of Intuitive Machines Inc in ARKQ.</li>
<li>Sold 640,202 shares of 3D Systems Corp from ARKQ.</li>
<li>Bought 179,266 shares of Nextdoor Holdings Inc in ARKW.</li>
</ul>
Photo Courtesy: Ira Lichi On Shutterstock.com
Read Next: 
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45637935/florida-to-embrace-gold-and-silver-as-real-currency-amid-wavering-dollar-confidence" target="_blank" rel="noreferrer noopener">Ron DeSantis Signs Law Allowing Gold, Silver For Transactions In Florida, Citing &#8216;Declining Dollar&#8217; Concerns</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>

Equities

Short Sellers

ETFs

ARKG

ARKK

TSLA

Cathie Wood Ditches $5.6M More Tesla While Elon Musk Quits Government Role — Doubles Down On AI Stock Under Attack By Short Sellers

Editor&#8217;s Note: This story has been updated to include the latest details
A federal court struck down global tariffs imposed by&nbsp;President Donald Trump under the International Emergency Economic&nbsp;Powers Act on Wednesday. This ruling could significantly impact the administration&#8217;s trade strategies.
What Happened: The federal court has ruled against Trump&#8217;s authority to impose extensive global tariffs&nbsp;under the IEEPA, according to a <a href="https://www.axios.com/2025/05/28/trump-tariffs-trade-court-ruling">report</a> by Axios. The decision, delivered by the U.S. Court of International Trade, could potentially halt the administration&#8217;s trade war efforts.
The court&#8217;s ruling, which emerged from two separate cases, nullifies the tariffs Trump had enforced using the 1977 IEEPA law, a statute never previously applied in tariff situations. Businesses and states had challenged the tariffs, arguing they violated the Constitution&#8217;s allocation of import duty authority to Congress.
The three-judge panel, comprising appointees from the Reagan, Obama, and Trump administrations, stated that IEEPA does not grant the president unlimited tariff-imposing powers. Consequently, the court vacated the challenged tariff orders and permanently enjoined their operation.
Axios noted that the court bypassed motions for an injunction, directly issuing a judgment that IEEPA did not authorize the &#8220;Worldwide, Retaliatory or Trafficking&#8221; orders. The White House has yet to comment on the ruling. 
&#8220;The challenged Tariff Orders will be vacated and their operation permanently enjoined,&#8221; wrote the court in its ruling, according to the report.
The decision could lead to confusion at U.S. ports and impact markets as businesses await the administration&#8217;s next steps and potential higher court interventions.
The Trump administration filed an appeal against the ruling in minutes, according to a Reuters report.
See Also:&nbsp;<a href="https://benzinga.com/general/market-summary/25/05/45641879/stock-market-is-pricing-a-never-before-seen-divergence-as-equities-and-bonds-run-it-hot-amid-gloomy-outlook-by-bottom-up-analysts" target="_blank" rel="noreferrer noopener">Stock Market Is Pricing A Never-Before-Seen &#8216;Divergence&#8217; As Equities And Bonds &#8216;Run It Hot&#8217; Amid Gloomy Outlook By Bottom-Up Analysts</a>
Why It Matters: This ruling follows a series of aggressive trade measures by Trump, including the introduction of a <a href="https://www.benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock">reciprocal tariff structure</a> in early April 2025. The president announced these tariffs as part of a broader strategy to redefine America&#8217;s trade relationships, dubbing it &#8220;our Declaration of Economic Independence.&#8221;
The economic impact of these tariffs was immediate and profound. The U.S. stock market <a href="https://www.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation">experienced a significant downturn</a>, with a $5 trillion loss in market capitalization over just two days following the tariff announcement.
Photo Courtesy: Joey Sussman on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/general/market-summary/25/05/45641879/stock-market-is-pricing-a-never-before-seen-divergence-as-equities-and-bonds-run-it-hot-am" target="_blank" rel="noreferrer noopener">Stock Market Is Pricing A Never-Before-Seen &#8216;Divergence&#8217; As Equities And Bonds &#8216;Run It Hot&#8217; Amid Gloomy Outlook By Bottom-Up Analysts</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>

Politics

Economics

General

Trump Tariffs Struck Down By Federal Court — Appeal Filed By Administration: Report (UPDATED)

You're in your 60s—or getting close—and wondering where you stand. Maybe retirement's around the corner, maybe you're still working by choice or necessity. Either way, there's one question that quietly lingers behind the spreadsheets and savings goals: <a href="https://www.benzinga.com/25/01/43201704/can-you-guess-what-it-takes-to-be-wealthy-in-retirement-hint-its-probably-less-than-your-goal">am I doing better than most</a>?
There's no single number that defines success—but when it comes to net worth, the data paints a pretty clear picture of who's considered upper class in this age group.
Over the past three decades, the average retirement age has crept upward. In 2024, men typically retired at 64.6, women at 62.6, <a href="https://crr.bc.edu/will-the-average-retirement-age-keep-rising/">according to economist Alicia Munnell</a>. That's a few years older than in 1994, when retirement came around 61 for men and 59 for women. The shift is slow but steady, and it can influence everything from lifestyle to savings goals as people extend their working years—or opt out altogether.
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</ul>
<h2 class="wp-block-heading">Net Worth Benchmarks: Where Do You Fit?</h2>
The <a href="https://www.federalreserve.gov/econres/scfindex.htm">Federal Reserve's 2022 Survey of Consumer Finances</a> offers a detailed look at household net worth by age and percentile. For Americans in their 60s, here's how the numbers break down:
Ages 55–64:
<ul class="wp-block-list">
<li>80th percentile (Top 20%): $1,472,000</li>
<li>90th percentile (Top 10%): $2,960,900 </li>
</ul>
Ages 65–74:
<ul class="wp-block-list">
<li>80th percentile (Top 20%): $1,524,000</li>
<li>90th percentile (Top 10%): $2,997,300 </li>
</ul>
In contrast, the median net worth is far lower: $364,260 for ages 55–64 and $410,000 for ages 65–74. That gap illustrates just how concentrated wealth can be among the upper percentiles.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">What's in the Portfolio?</h2>
Net worth isn't just what's in your bank account. For the upper class, it's usually spread across:
<ul class="wp-block-list">
<li>Retirement accounts (401(k), IRA)</li>
<li>Home equity and real estate</li>
<li>Stocks, bonds, mutual funds</li>
<li>Business ownership</li>
<li>Cash and savings</li>
<li>Personal assets like vehicles, jewelry, or art </li>
</ul>
This kind of diversified portfolio not only builds long-term wealth but also creates multiple income streams as people move into retirement or semi-retirement.
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
<h2 class="wp-block-heading">The Takeaway</h2>
If your net worth is north of $1.5 million in your 60s, you're solidly in the upper class by financial standards. Nearly $3 million? You're <a href="https://www.benzinga.com/25/05/45271981/are-you-richer-than-your-peers-heres-the-net-worth-it-takes-at-every-age-to-be-in-the-top-10">brushing shoulders with the top 10%</a>. These benchmarks—grounded in federal data—offer more than bragging rights. They're a tool to help you assess where you stand and what's possible from here.
Because in your 60s, whether you're clocking out or doubling down, <a href="https://www.benzinga.com/money/are-you-rich">wealth isn't just a number—it's a strategy</a>.
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
</ul>
Image: Shutterstock

Personal Finance

Are You Rich And In Your 60s? Here's the Net Worth It Takes To Be Upper Class

TAOP

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 6.9% on an annualized basis producing an average annual return of 17.66%. Currently, PulteGroup has a market capitalization of $19.58 billion. 
Buying $1000 In PHM: If an investor had bought $1000 of PHM stock 10 years ago, it would be worth $5,070.58 today based on a price of $97.71 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748475911_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In PulteGroup 10 Years Ago Would Be Worth This Much Today

Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) has outperformed the market over the past 10 years by 9.06% on an annualized basis producing an average annual return of 19.83%. Currently, Wix.com has a market capitalization of $8.48 billion. 
Buying $100 In WIX: If an investor had bought $100 of WIX stock 10 years ago, it would be worth $612.14 today based on a price of $152.30 for WIX at the time of writing.
<h3>Wix.com's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748475011_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Wix.com 10 Years Ago Would Be Worth Today

Restaurant company Steak ‘n Shake is a sponsor of the Bitcoin 2025 Conference and used the event to share an update on its recent push into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a payment option, as it also embraced the crypto community via <a href="https://www.benzinga.com/general/restaurants/25/05/45328334/steak-n-shake-goes-steaktoshi-embraces-bitcoin-maga-culture-tesla-fanbase">social media posts.</a>
What Happened: While many in attendance at the Bitcoin 2025 Conference in Las Vegas may have been excited to hear from U.S. Vice President JD Vance who talked about<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45652549/vice-president-jd-vance-predicts-100m-bitcoin-holders-the-us-ought-to-be-leaning-into-bitcoin"> the growing adoption</a> of Bitcoin in the country, others may have loved a real-world example from Steak ‘n Shake.
The restaurant company, which is owned by Biglari Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BH#NYSE">BH</a>), launched Bitcoin payments on May 16 utilizing the Bitcoin Lightning Network.
Steak ‘n Shake Chief Operations Officer Dan Edwards spoke at the Bitcoin event about the company's push into crypto.
"The day we launched Bitcoin, one out of every 500 bitcoin transactions in the world happened at Steak ‘n Shake," Edwards said, calling the Bitcoin payment acceptance at locations "a global implementation."
In the speech, Edwards said that accepting Bitcoin as a payment option was not a publicity stunt, as <a href="https://bitcoinmagazine.com/news/steak-n-shake-reveals-bitcoin-payment-success-at-bitcoin-2025-conference">reported </a>by Bitcoin Magazine.
"We didn't see this as a marketing gimmick. We saw it as a viable option to pay — on par with other globally accepted methods.
Edwards said Bitcoin is helping the company with transaction speeds and the company is saving 50% in processing fees.
"That makes Bitcoin a win for the customer, a win for us, and a win for the Bitcoin community."
Edwards said since the restaurant company started accepting Bitcoin as a payment option, it saw increased sales.
"We've seen a sustained spike since adding Bitcoin."
Posts on social media highlighted the company's Bitcoin payment options with a call out to the crypto community by some large accounts to try and support the restaurant.
Among the supporters was Bitcoin advocate and Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) CEO Jack Dorsey. A user on X <a href="https://x.com/SteaknShake/status/1923387257190306055">told </a>Dorsey it was a shame that Steak ‘n Shake wasn't using Block's Square terminals.  
"We are going to work on that," Dorsey said.
Read Also: <a href="https://www.benzinga.com/25/03/44419119/making-kennedy-proud-again-new-poll-shows-34-of-diners-more-likely-to-try-food-cooked-in-beef-tallow">Making Kennedy Proud Again? New Poll Shows 34% Of Diners More Likely To Try Food Cooked In Beef Tallow</a>
Why It's Important: Steak ‘n Shake has <a href="https://www.benzinga.com/general/restaurants/25/03/44280041/rfk-jr-thanks-steak-n-shake-for-rfking-the-french-fries-restaurant-goes-all-in-on-make-america-healthy-again">embraced several communities </a>in recent months, including Tesla fans, and investors and fans of President Donald Trump, Secretary of Health and Human Services Robert F. Kennedy Jr. and the "Make America Healthy Again" movement.
The restaurant received increased attention for switching its cooking method for French fries to beef tallow, which drew praise and a visit from Kennedy.
Embracing these communities and a social media push that appeals to these fans could help with sales and ultimately help Biglari&#8217;s stock.
Edwards said the company offered several limited-edition Bitcoin-themed menu items in Las Vegas to celebrate the Bitcoin launch. This includes the Bitcoin Burger, a Bitcoin Milkshake and a Super-Sized Bitcoin Meal.
The restaurant executive also teased that a "blockchain menu" is in the works.
As for what Steak ‘n Shake could be embracing next, artificial intelligence could be the answer.
"We're not done. We're investing in cyber chefs, autonomous drives, AI tech — and we need engineers to help us build it."
BH Price Action: Biglari Holdings stock closed down 2.34% to $261.07 on Wednesday versus a 52-week trading range of $159.69 to $271.35. Biglari stock is up 2.7% year-to-date and up 34% over the last year.
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</ul>
Photo: Deutschlandreform via Shutterstock

Restaurants

Steak 'N Shake Thanks Bitcoin For Higher Sales, Lower Fees — And It's Celebrating With 'Blockchain Menu'

Trump's Global Tariffs Blocked By U.S. Trade Court

Stryker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>) has outperformed the market over the past 20 years by 2.57% on an annualized basis producing an average annual return of 10.84%. Currently, Stryker has a market capitalization of $145.19 billion. 
Buying $1000 In SYK: If an investor had bought $1000 of SYK stock 20 years ago, it would be worth $7,775.76 today based on a price of $380.39 for SYK at the time of writing.
<h3>Stryker's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748474116_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Stryker 20 Years Ago Would Be Worth Today

Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) has outperformed the market over the past 15 years by 1.41% on an annualized basis producing an average annual return of 13.18%. Currently, Starbucks has a market capitalization of $97.96 billion. 
Buying $100 In SBUX: If an investor had bought $100 of SBUX stock 15 years ago, it would be worth $647.10 today based on a price of $86.20 for SBUX at the time of writing.
<h3>Starbucks's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748473212_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SBUX

$100 Invested In This Stock 15 Years Ago Would Be Worth This Much Today

BIMA, a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-native DeFi platform, has partnered with exSat Network to advance the use of Bitcoin in decentralized finance. 
The collaboration kicks off with an initial $100 million deployment, equivalent to 1,000 BTC, towards enabling permissionless yield strategies. 
The two firms also revealed an option to scale the capital allocation to $500 million (5,000 BTC) as demand grows.
The alliance positions BIMA as the official stablecoin provider across the exSat ecosystem, integrating its overcollateralized USBD stablecoin with exSat-native assets like esBTC and iBTC. 
This deployment is aimed at allowing Bitcoin holders to tap into DeFi yields without selling their assets or exiting the Bitcoin standard.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45654053/blackrock-to-take-10-stake-in-circles-ipo">BlackRock To Take 10% Stake In Circle&#8217;s IPO</a>
"This partnership with exSat marks a major step towards mobilizing Bitcoin as a productive asset in DeFi," said BIMA CEO Sid Sridhar. "We're building the infrastructure to enable secure, capital-efficient deployment of USBD across DeFi and CeFi."
The collaboration comes shortly after BIMA's mainnet launch, which introduced tools for both institutional and retail investors to borrow against Bitcoin and access structured yield products. 
Users can mint USBD stablecoins through an integrated platform that supports major wallets such as Ledger, MetaMask, and XVerse.
exSat Founder Yves La Rose emphasized the long-term vision of unlocking new use cases for Bitcoin as block rewards decline. 
"This collaboration brings us one step closer to building a sovereign Bitcoin banking layer," he said. "By enabling users to borrow USBD against BTC and access permissionless yield, we're expanding Bitcoin's utility without forcing users to sell."
Both teams aim to address a critical gap in Bitcoin's current functionality: the ability to generate yield natively, without compromising on-chain security or decentralization principles.
Read Next: • <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45652549/vice-president-jd-vance-predicts-100m-bitcoin-holders-the-us-ought-to-be-leaning-into-bitcoin">Vice President JD Vance Predicts 100M Bitcoin Holders: &#8216;The US Ought To Be Leaning Into Bitcoin&#8217;</a>
Photo: Shutterstock

BIMA, exSat Launch $100M Initiative To Expand Bitcoin-Backed DeFi Infrastructure

Insmed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INSM#NASDAQ">INSM</a>) has outperformed the market over the past 5 years by 6.26% on an annualized basis producing an average annual return of 20.05%. Currently, Insmed has a market capitalization of $12.09 billion. 
Buying $100 In INSM: If an investor had bought $100 of INSM stock 5 years ago, it would be worth $265.55 today based on a price of $66.36 for INSM at the time of writing.
<h3>Insmed's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748472314_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

INSM

If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today

KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) has outperformed the market over the past 5 years by 20.61% on an annualized basis producing an average annual return of 34.4%. Currently, KLA has a market capitalization of $104.32 billion. 
Buying $100 In KLAC: If an investor had bought $100 of KLAC stock 5 years ago, it would be worth $441.86 today based on a price of $785.00 for KLAC at the time of writing.
<h3>KLA's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748471411_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

KLAC

$100 Invested In This Stock 5 Years Ago Would Be Worth This Much Today

Sen. Bernie Sanders (I-VT) took a jab at President Donald Trump on social media, mocking a recent claim and executive order Trump made about slashing drug prices.
&#8220;Good news: Donald Trump, who never lies, just announced he alone has reduced drug prices by 85%,&#8221; Sanders <a href="https://x.com/SenSanders/status/1924887208919507090">posted on X</a> on May 20. &#8220;Quick. Go to your pharmacy. Demand an 85% reduction on your drug prices. Tell them Trump sent you.&#8221;&nbsp;
He also added, &#8220;If that doesn't work, tell him to support the bill I&#8217;m introducing that&#8217;ll do it.&#8221;
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</ul>
<h2 class="wp-block-heading">Trump's Latest Executive Order on Drug Prices</h2>
Sanders&#8217; post came days after Trump signed an <a href="https://www.whitehouse.gov/presidential-actions/2025/05/delivering-most-favored-nation-prescription-drug-pricing-to-american-patients/">executive order</a> on May 12 aimed at lowering prescription drug costs for Americans. The order focuses on ensuring Americans pay the same or less than other wealthy nations by pressuring pharmaceutical companies to offer &#8220;Most-Favored-Nation&#8221; pricing—the lowest price they offer to any developed country.
According to a White House <a href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-announces-actions-to-put-american-patients-first-by-lowering-drug-prices-and-stopping-foreign-free-riding-on-american-pharmaceutical-innovation/">fact sheet</a>, the order allows Americans to buy drugs directly from manufacturers, <a href="https://www.benzinga.com/personal-finance/25/04/44674382/mark-cuban-says-big-insurance-companies-and-pbms-control-healthcare-costs-everyone-has-to-kiss-their-a-and-accept-the-complications">bypassing middlemen</a>. If companies don't cooperate, the Department of Health and Human Services is instructed to take aggressive regulatory steps.
&#8220;Our citizens pay massively higher prices than other nations for the same exact pill,&#8221; Trump said. &#8220;We would spend tremendous amounts of money in order to provide inexpensive drugs to another country.&#8221;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
Backing up both arguments is a February 2024 Rand Corp. <a href="https://www.rand.org/news/press/2024/02/01.html">study</a> that found U.S. drug prices are on average 2.78 times higher than in 33 other developed nations. For brand-name drugs, the gap is even wider—4.22 times higher.
The Rand report also revealed that in 2022, the U.S. accounted for 62% of global drug sales, despite making up just 24% of total prescription volume.
Meanwhile, <a href="https://www.benzinga.com/personal-finance/25/04/45029761/experts-warn-tariffs-could-negatively-impact-pretty-fragile-supply-of-generic-drugs">generics in the U.S.</a> cost less than abroad, averaging about 67% of international prices.
See Also: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
<h2 class="wp-block-heading">Who's Really Paying?&nbsp;</h2>
The Trump administration argues Americans are subsidizing both Big Pharma and foreign health systems, while Sanders wants broader government action to force lower prices through legislation.
During a <a href="https://www.youtube.com/watch?v=6EHXakUFBs4">briefing</a> on the Make America Healthy Again Commission's report on children's health, Trump criticized other countries for negotiating harder on prices, calling their representatives &#8220;a lot more vicious than us,&#8221; and argued that the U.S. has been footing the bill for lower drug prices overseas for years.
"We are going to now get a reduction in drug costs of up to 89% in some cases, but 50% would be a low, a bad number," Trump said. "It's going to be massive numbers. It's going to be incredible for Medicaid, incredible for all forms of health care. Medicare is going to be; it's going to have a huge impact, so big that nobody can calculate it."
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Bernie Sanders Says, 'Trump Just Announced He's Reduced Drug Prices By 85%,' Dares You To Go To The Pharmacy And 'Tell Them Trump Sent You'

Retailer Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) could provide a look at consumer spending and tariffs when the company reports third-quarter financial results Thursday <a href="https://www.benzinga.com/earnings">after market close.</a>
Here is a look at the analyst estimates, what analysts are saying before the results and key items to watch.
Earnings Estimates: Analysts expect Costco to report third-quarter revenue of $63.19 billion, up from $58.52 billion in last year's third quarter according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0528">from Benzinga Pro.</a>
The company beat revenue estimates in the second quarter, but has only beaten analyst estimates in four of the last 10 quarters overall.
Analysts expect Costco to report third-quarter earnings per share of $4.24, up from $3.78 in last year's third quarter. The company has missed analyst estimates for earnings per share in two straight quarters, while beating estimates in seven of the last 10 quarters overall.
Read Also: <a href="https://www.benzinga.com/trading-ideas/25/05/45335286/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-64">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
What Analysts Are Saying: After a strong<a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45298451/jpmorgan-sees-more-upside-for-costco-as-us-sales-e-commerce-outperform"> April sales figure</a> from Costco, JPMorgan analyst Christopher Horvers reiterated an Overweight rating and raised the price target from $1,070 to $1,088.
The analyst said the 7.1% U.S. core comparable sales growth in April was ahead of estimates, despite a calendar-related sales headwind from the Easter timing shift.
The month of April also saw the average transaction size up 2.4% year-over-year and e-commerce sales growth of 13% year-over-year.
Along with the positives were several negatives, including weaker sales in Canada and international markets and less early demand in April for non-food items compared to March.
Horvers said Costco has strong global momentum, is seeing market share gains and has exposure to a potential rebound in big-ticket items. The analyst said Costco is a high-conviction stock pick.
Telsey analyst Joseph Feldman called Costco's <a href="https://www.benzinga.com/25/04/44745979/costco-wholesale-posts-strong-march-sales-uptick-in-purchases-ahead-of-tariffs-analysts-say">March same-store sales </a>"impressive," ahead of the upcoming third-quarter results.
"Costco continues to execute well in this uncertain operating environment," Feldman said.
The analyst reiterated an Outperform rating and $1,100 price target after the March sales figures.
Key Items to Watch: Similar to other retail stocks, investors and analysts will likely be centered on any commentary and guidance that involves tariffs.
Costco was one of the early companies to address tariffs ahead of inauguration with the company discussing potential price increases due to tariffs from President Donald Trump.
&#8220;In general, of course, tariffs raise costs. That&#8217;s not something that we see as a positive in general," Costco Chief Financial Officer Gary Millerchip said at the time.
Millerchip said the company had plans in place to prevent possible price increases.
Trump's presidential transition team <a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">took exception</a> to the comments from Costco at the time and said Trump's economic and trade policies would make life affordable and more prosperous for the U.S.
Walmart recently reported financial results and said it may have to pass on higher costs to consumers. This comment angered Trump and led to the president telling the retailer to<a href="https://www.benzinga.com/markets/25/05/45536218/walmart-responds-to-trumps-eat-the-tariff-remark-worked-to-keep-our-prices-as-low-as-possible-and-we-wont-stop"> eat the costs.</a>
Costco may have to be cautious in what it says about price increases or face similar pushback from Trump.
The retailer reported positive year-over-year comparable sales for its U.S., Canada and other International segments in the second quarter. Investors and analysts will be watching to see if the momentum continues in the third quarter, along with the e-commerce segment sales.
A Placer.ai <a href="https://www.placer.ai/anchor/articles/wholesale-clubs-find-success-in-q1-2025">report </a>said Costco had visit growth of 2.3% in February, 7.8% in March and 3.4% in April on a year-over-year basis. The third-quarter results will include portions of February and May along with all of March and April.
In the report, Costco's visitor growth was higher than rivals BJ's Wholesale and Sam's Club, which could also indicate some market share gains in the quarter.
Another item investors and analysts could be watching is membership fee revenue. This figure came in at $1.19 billion in <a href="https://www.benzinga.com/news/earnings/25/03/44180426/costco-q2-earnings-revenue-beat-eps-miss-comps-up-6-8-driven-by-strength-in-the-us">the second quarter,</a> up from $1.11 billion in the prior year's second quarter. Costco raised the price of its annual store membership by five dollars in September 2024, a company first membership fee hike since 2017.
While membership fee is a small portion of overall revenue, it is high margin and recurring.
COST Price Action: Costco stock closed Wednesday down 0.46% to $1,013.14 on versus a 52-week trading range of $788.20 to $1,078.24. Costco stock is up 11.4% year-to-date in 2025 and up around 25% over the last year.
Read Next: 
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<li><a href="https://www.benzinga.com/general/market-summary/25/03/44185877/costco-ceo-says-it-is-well-equipped-to-mitigate-trumps-tariffs-but-warns-of-inflation-impact-on-consumers-when-it-rains-it-rains-on-everyone">Costco CEO Says It Is &#8216;Well Equipped&#8217; To Mitigate Trump&#8217;s Tariffs, But Warns Of Inflation Impact On Consumers: &#8216;When It Rains, It Rains On Everyone&#8217;</a></li>
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