Latest news for Clean Teq Water (OTC:CNQQF) Stock

Clean Teq Water Ltd provides inventive metals recovery and water treatment solutions for governments and companies. Its technology solutions include desalination, nutrient removal, zero liquid discharge and hardness removal. It focuses on sectors such as municipal wastewater, surface water, industrial wastewater and mining process water. The company has offices and laboratories in Melbourne, Perth, Beijing and Tianjin, and partner offices in Africa and Latin America.

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Clean Teq Water Ltd

JP Morgan analyst Rajat Gupta downgrades TrueCar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUE#NASDAQ">TRUE</a>) from Overweight to Neutral.

News

Downgrades

Analyst Ratings

TRUE

JP Morgan Downgrades TrueCar to Neutral

Shares of Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) rose sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/quote/FIVE">better-than-expected fourth-quarter financial results.</a>
Five9 reported quarterly earnings of 79 cents per share, which beat the analyst consensus estimate of 70 cents. Quarterly revenue came in at $278.66 million which beat the analyst consensus estimate of $267.81 million and is an increase over revenue of $239.06 million from the same period last year.
Five9 also announced the retirement of CFO Barry Zwarenstein and the appointment of Bryan Lee to Interim CFO.
Five9 shares jumped 13% to $47.10 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) rose 113.9% to $2.46 in pre-market trading after dipping 5% on Thursday.</li>
<li>Universe Pharmaceuticals INC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPC#NASDAQ">UPC</a>) shares jumped 76.7% to $0.2519 in pre-market trading after declining 5% on Thursday.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) gained 36.5% to $4.08 in pre-market trading.</li>
<li>Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) gained 33.2% to $34.01 in pre-market trading after the company announced it will acquire Alani Nu for $1.65 billion.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) gained 26.1% to $1.50 in pre-market trading after gaining around 4% on Wednesday.</li>
<li>Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPH#NASDAQ">SHPH</a>) gained 23.6% to $0.7357 in pre-market after declining around 7% on Wednesday.</li>
<li>China Yuchai International Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYD#NYSE">CYD</a>) shares climbed 23.3% to $23.40 in pre-market trading after the company announced a strategic agreement with Kim Long Motor Hue.</li>
<li>Diginex Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGNX#NASDAQ">DGNX</a>) rose 18.7% to $52.00. Diginex announced secondary listing on the Frankfurt Stock Exchange and Tradegate Exchange and the engagement of German-based Kirchhoff Consult GmbH to broaden investor base across Europe.</li>
<li>AleAnna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANNA#NASDAQ">ANNA</a>) gained 13.7% to $10.18 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Inspirato Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) shares fell 54.4% to $2.10 in pre-market trading. Inspirato announced plans to release its fourth quarter and full year 2024 financial and operating results after the closing bell on Monday, Feb. 24.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) dipped 22.1% to $0.7330 in pre-market trading after jumping 185% on Thursday.</li>
<li>Northann Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCL#NYSE">NCL</a>) declined 17.4% to $0.1980 in pre-market trading.</li>
<li>Jewett-Cameron Trading Company Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JCTC#NASDAQ">JCTC</a>) fell 16.4% to $3.98 in pre-market trading.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares tumbled 15.3% to $0.1694 in pre-market trading after jumping 49% on Thursday.</li>
<li>Fold Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLD#NASDAQ">FLD</a>) shares fell 14.5% to $7.90 in pre-market trading after dipping around 15% on Thursday.</li>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) fell 11.3% to $87.00 in pre-market trading following weak guidance.</li>
<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) fell 11.2% to $28.32 in pre-market trading. Dropbox reported better-than-expected earnings for its fourth quarter after Thursday's closing bell. Total ARR was $2.574 billion, an increase of 2% from the same period last year. Total ARR decreased by $4.8 million quarter-over-quarter.</li>
<li>AlTi Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTI#NASDAQ">ALTI</a>) fell 7.6% to $3.04 in today's pre-market trading after declining around 7% on Thursday.</li>
<li>Fold Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLD#NASDAQ">FLD</a>) shares dipped 5.8% to $8.70 in pre-market trading after declining around 15% on Thursday.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43864993/top-3-health-care-stocks-you-may-want-to-dump-in-february">Top 3 Health Care Stocks You May Want To Dump In February</a></li>
</ul>

AKAM

ALTI

ANNA

CELH

DGNX

FIVN

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

ISPO

JCTC

MLGO

MNDR

Nuveen Insured California Premium Fund Ii

SHPH

SOAR

TANH

Why Five9 Shares Are Trading Higher By Around 13%; Here Are 20 Stocks Moving Premarket

JP Morgan analyst Ranjan Sharma upgrades Grab Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>) from Neutral to Overweight and announces $5.6 price target.

Upgrades

Price Target

GRAB

JP Morgan Upgrades Grab Holdings to Overweight, Announces $5.6 Price Target

Jefferies analyst Brent Thill maintains Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) with a Buy and raises the price target from $200 to $220.

SNOW

Jefferies Maintains Buy on Snowflake, Raises Price Target to $220

Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) reported quarterly earnings of $0.78 per share which beat the analyst consensus estimate of $0.72 by 8.33 percent. This is a 4.88 percent decrease over earnings of $0.82 per share from the same period last year. The company reported quarterly sales of $4.55 billion which beat the analyst consensus estimate of $4.42 billion by 2.99 percent. This is a 6.80 percent decrease over sales of $4.88 billion the same period last year.

Earnings

Earnings Beats

VIPS

CORRECTION: Vipshop Q4 Adj EPS $0.78 Beats $0.72 Estimate, Sales $4.55B Beat $4.42B Estimate

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="855" height="572" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21061321/Imax-China-0221-01.jpeg" alt="" class="wp-image-6177" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21061321/Imax-China-0221-01.jpeg 855w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21061321/Imax-China-0221-01-300x201.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21061321/Imax-China-0221-01-768x514.jpeg 768w" sizes="(max-width: 855px) 100vw, 855px" /></figure>
The operator of large-screen theaters said it posted a strong start to 2025 on the success of the blockbuster animated film ‘Ne Zha 2'
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Imax China's revenue slumped 11% in the second half of last year, accelerating from a 3.1% decline in the first half, as China's box office fell 23% during the year</li>
<li>The large-screen cinema operator said it recorded strong business during this year's Chinese New Year holiday on the success of animated film "Ne Zha 2"</li>
</ul>
The past year has been anything but glamourous for China's film industry, which is reflected throughout the latest&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0220/2025022000031.pdf">annual earnings announcement</a>&nbsp;from&nbsp;Imax China Holding Inc.&nbsp;(1970.HK), a provider of large screen-technology to Chinese cinemas. But a devil child named Ne Zha, the star of animated blockbuster "Ne Zha 2," has brought a glimmer of hope to both the industry and Imax China, getting the company off to a roaring start in 2025.
Whether the strong start will continue for the rest of the year remains an open question, especially since "Ne Zha" is responsible for more than half of the China box office's record start to 2025. Once that film peters out, it's quite likely the box office will return to its anemic performance that saw ticket sales tumble 23% last year to 42.5 billion yuan ($3.37 billion) as increasingly cautious consumers reined in their spending on non-essentials.
Since we're still in the holiday mood with the Chinese New Year less than a month in the past, we'll begin with the more upbeat part of Imax China's latest annual report that discusses the strong start to 2025 thanks to Ne Zha.
One of the company's two main revenue sources is helping filmmakers produce versions of their films that can be shown on Imax's signature big screens for enhanced viewing. The other comes from fees for providing and maintaining its specialized equipment to theaters.
The company installed its first screens in regular Chinese cinemas in 2011, and initially focused mostly on Hollywood blockbusters that were more suitable for such viewing. But it has gradually increased the share of local Chinese films in its mix, with that total rising from 31.4% in 2019 to 61.5% in 2023. The proportion actually fell back to 44.7% last year as China allowed 39 Hollywood films into the country, after only allowing 22 in 2023.
Luckily for Imax China, "Ne Zha 2" was one of the Chinese films it converted to the Imax format this year, not a surprising choice since the animated film is packed with special effects that lend themselves to big-screen viewing. Among other things, the film has raked in about 60% of the China box office's 20 billion yuan in ticket sales as of Feb. 16, the fastest it has ever reached that milestone.
"Led by the Mandarin-language blockbuster ‘Ne Zha 2,' Imax screens in China have broken all previous box office records for the Chinese New Year period, and have already surpassed the company's best-ever first quarter box office in China (from 2019)," Imax China said in its report. "In fact, in less than three weeks in February 2025, Imax screens in China generated more local language box office than Imax China did in the entire year of 2024."
Investors seemed to focus on this positive part of Imax China's story the day after the report, sending its shares up 2.3% on Thursday, with the shares continuing to rise in early Friday trading. The stock is up 25% over the last 52 weeks, benefitting from a broader rally for China stocks in Hong Kong dating back to last fall.
<h4 class="wp-block-heading">Sagging revenue, profits</h4>
Having covered the Cinderella comeback story for China's box office in early 2025, we'll turn next to the gloomier story of 2024 that takes up the bulk of Imax China's latest report. Making matters worse, the company's situation deteriorated markedly from the first to the second half of the year.
On its top line, the company's revenue in the second half of the year fell 11% year-on-year to $37 million, based on calculations using full-year data and the company's mid-year report. That marked an acceleration from the 3.1% revenue decline in the first half of the year.
Within the total revenue pie, the contribution from the company's content solutions business of converting films into the Imax format dropped nearly 40% year-on-year to $15.5 million for all 2024, making up about 20% of the total. Its technology products and services business did far better, rising 6% for the year to $64.5 million, accounting for the other 80% of the total.
The company had 809 screens in China using its Imax format at the end of last year, roughly the same as the 807 it had a year earlier. But it pointed out it was still aiming to boost that count, with its backlog of planned new screens rising to 237 by the end of last year from 206 a year earlier.
Despite the recent bump from "Ne Zha," the company acknowledged it is facing a difficult market. "The market's slow recovery from the pandemic has caused some exhibitors in Mainland China, including several of the group's exhibitor partners, to experience financial difficulties which, in certain cases, has resulted in delays in meeting payment and Imax system installation obligations to the group," it said. Still, the company appears to be managing that issue well, with its unpaid bills under control on its balance sheet.
Despite a 6.7% revenue contraction for the full year, Imax China's cost of sales actually rose about 14% in 2024, though the company didn't comment on the reasons. But the result was that its gross margin eroded to 54.3% in 2024 from 62.7% the previous year. The margin erosion accelerated in the second half of the year, causing the company's profit to fall 30% year-on-year in the second half of 2024 to $9.6 million. That marked a sharp acceleration from the 9.4% profit decline in the first half of 2024.
Despite its rally over the last year, Imax China trades at a relatively weak price-to-earnings (P/E) ratio of 15, well below the forward P/E of 23 for its Canadian parent&nbsp;Imax Corp.&nbsp;(IMAX.US), and also below the current P/E of 26 for&nbsp;Wanda Film&nbsp;(002739.SZ) and 30 for&nbsp;Bona Film&nbsp;(001330.SZ). Imax Corp. previously tried to privatize Imax China in 2023, but the effort ultimately failed to get the required 75% approval from independent shareholders.
Given Imax China's relatively low valuation and weak prospects, despite the strong start to 2025, we wouldn't be surprised if Imax makes another privatization bid for the company this year or next. If it does, it may offer a bigger premium than it did the first time to win over more investors.

Asia

Entertainment

Equities

IMAX

Imax China Roars Into Year Of The Snake After Weak Performance In 2024

Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) reported a quarterly<a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming"> gross profit of $170 million</a> for the first time in the fourth quarter owing to the sale of regulatory credits and not merely by cutting costs, according to Fund Manager Gary Black.
Analyst Take: Black, Managing Partner at The Future Fund LLC, said in a post on X that in the absence of regulatory credit sale revenue, the company would have lost about $13,000 for every vehicle sold in the quarter. 
&#8220;My sense is Rivian stockpiled their reg credits and then sold them all in 4Q to be able to show they were gross profit positive. Investors should be able to see right through that,&#8221; Black said. 
&#8220;At $99K COGS per vehicle, Rivian is still a long way from making money and absent VOW and AMZN as sugar daddies they would probably be history,&#8221; Black said, referring to Rivian&#8217;s partnerships with German automaker Volkswagen and online retailer Amazon.com. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My sense is <a href="https://twitter.com/search?q=%24RIVN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RIVN</a> stockpiled their reg credits and then sold them all in 4Q to be able to show they were gross profit positive. Investors should be able to see right through that. At $99K COGS per vehicle , <a href="https://twitter.com/search?q=%24RIVN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RIVN</a> is still a long way from making money and absent VOW and AMZN… <a href="https://t.co/ROcV2VKbMb">pic.twitter.com/ROcV2VKbMb</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1892788634710909180?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rivian Earnings: Rivian, in its earnings report, said that $110 million of its gross profit in the quarter came from the automotive segment and $60 million from the software and services segment.
The automotive segment includes the sale of new consumer and commercial vehicles as well as regulatory credits. The company said that it incurred revenue of $299 million purely from the sale of regulatory credits in the three months through the end of December. Throughout the year, the company reported only $325 million in revenue from regulatory credits, implying a majority of them were sold in the last three months. 
The company also reduced its automotive cost of goods sold by $31,000 per vehicle delivered in the fourth quarter to turn a positive gross profit, it said. 
Rivian expects to achieve modest gross profit for 2025 as well.
Big Shot Trajectory: EV giant Tesla recorded a quarterly profit for the first time in the <a href="https://www.benzinga.com/news/24/04/38485339/elon-musk-reminisces-how-tesla-achieved-its-first-quarterly-profit-11-years-ago-a-case-of-deliver-or">first quarter of 2013</a>. However, Tesla turned a full-year profit only in 2020. The company reported a profit of $721 million for the year, spurred by higher revenue from regulatory credits of about $1.6 billion. 
EV makers receive these credits for building and selling environmentally friendly vehicles. These companies then sell them to rivals who have fallen short of their credit numbers mandated by law for revenue. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43842890/osha-cites-tesla-over-death-of-electrician-report" target="_blank" rel="noreferrer noopener">Elon Musk's Tesla Cited By OSHA Over Death Of Electrician At Giga Texas: Report</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

RIVN

Tesla Bull Says Rivian Is A Long Way From Making Money: 'Absent Volkswagen And Amazon As Sugar Daddies They Would Probably Be History'

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 4.2% during the pre-market trading session on Friday following strong financial performance for the third quarter.
What Happened: The Chinese tech giant posted stellar results for the December quarter surpassing expectations. Alibaba&#8217;s third-quarter revenue grew 8% YoY to $38.38 billion, surpassing analyst estimates, while adjusted earnings per ADS of $2.93 beat consensus expectations of $2.66. The revenue for Alibaba's Cloud Intelligence Group witnessed a 13% year-on-year growth to $4.37 billion with revenue from AI-related products experiencing triple-digit growth for the sixth straight quarter.
The company&#8217;s CEO Eddie Wu&nbsp;stated, "This quarter's results demonstrated substantial progress in our ‘user first, AI-driven' strategies and the re-accelerated growth of our core businesses.&#8221;
Also, during the company&#8217;s third-quarter earnings call, CFO, Toby Xu, confirmed the 5% net reduction in share count. The Chinese tech behemoth repurchased $1.3 billion of its shares in the December quarter. This follows an approximate $10 billion in buybacks during the first half of fiscal 2024. The company still has $20.7 billion left in its buyback authorization. The buyback strategy was implemented as Alibaba reported $83.6 billion in cash reserves as of Dec. 31. 
SEE ALSO: <a href="https://www.benzinga.com/25/02/43772576/tesla-to-start-delivering-shanghai-made-refreshed-model-ys-next-week">Tesla&#8217;s Refreshed Model Y Rolls Off Shanghai Gigafactory, Deliveries To Start &#8216;Soon&#8217;</a>
Why It Matters: The stock has&nbsp;seen nearly an 80% surge over the past 12 months,&nbsp;bolstered by China&#8217;s&nbsp;economic stimulus measures and growing&nbsp;traction in Alibaba&#8217;s AI offerings. This growth in <a href="https://www.benzinga.com/25/02/43874037/alibaba-sees-ai-gold-rush-in-cloud-computing-not-open-and-closed-source-modelshints-monetization-lies-in-powering-ai-not-selling-it">AI offerings aligns with the company&#8217;s belief</a> that the real value in artificial intelligence will come from cloud infrastructure rather than the models themselves.
Moreover, CEO&nbsp;Eddie Wu&nbsp;revealed expectations that the company's International Commerce Unit would achieve profitability in the next fiscal year.
Meanwhile, Alibaba&#8217;s&nbsp;board-level capital management committee also continues&nbsp;to manage&nbsp;shareholder return initiatives through a&nbsp;mix&nbsp;of dividends, share buybacks, and&nbsp;strategic investments. 
The stock also surged in Hong Kong market on Friday as economists predict China's central bank could lower its main policy rate in March
Alibaba&#8217;s&nbsp;ADR closed at $135.97 on&nbsp;Thursday, gaining 8.09% for the&nbsp;day. In after-hours trading, the&nbsp;stock rose an additional 0.82%.&nbsp;Year to date, Alibaba shares&nbsp;have surged 60.06%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus</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.
&nbsp;

Markets

BABA

BABA Stock Climbs Over 4% In Friday Pre-Market: What's Going On?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp.png" alt="" class="wp-image-6173" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
A Chinese biotech that made a name for itself by co-developing an anti-Covid drug has filed for a stock market listing to fund research into tackling other conditions
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Vigonvita works closely with the Chinese Academy of Sciences through its founder and biggest shareholder, research scientist Shen Jingshan</li>
<li>After selling rights to its flagship anti-viral product, the drug developer fell back into the red last year</li>
</ul>
As Chinese biotechs beat a path to Hong Kong's IPO market, hoping to catch the eye of investors, one drug developer can point to a commercially launched Covid treatment as proof of its capability.
Vigonvita Life Sciences Co. Ltd., in partnership with Chinese research institutes, began work on the oral anti-viral medicine during the pandemic, later selling the product rights to a major Chinese pharmaceutical brand.
The pandemic project raised the company's profile and is now being leveraged in its pursuit of a Hong Kong stock listing.
Before the Chinese New Year holiday, the developer of innovative drugs&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107116/documents/sehk25012700686.pdf">applied</a>&nbsp;to join the main board of the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.
Founded in 2013, Vigonvita Life Sciences develops small molecule drugs to treat viral infections, mental health disorders and reproductive issues. Its pipeline contains nine innovative drugs as well as four generic drugs, two of which have gained marketing approval, bringing new revenue streams into the company.
Vigonvita's activities extend from drug research and development to manufacturing and sales. Its founder and biggest shareholder, Shen Jingshan, is a leading researcher and doctoral supervisor at a Shanghai institute within the Chinese Academy of Sciences that was involved in developing the Covid drug.
After the pandemic broke out in 2020, Vigonvita collaborated with Chinese research bodies to develop anti-Covid medicines, acquiring exclusive intellectual property rights to the resulting treatment, VV116.
In September 2021, Vigonvita sold the rights to develop, manufacture, and commercialize the product in most parts of the world to&nbsp;Junshi Biosciences&nbsp;(1877.HK; 688180.SH), while the right to supply the active ingredients was transferred to a pharmaceutical company based in Hainan province.
Together, the two out-licensing deals boosted Vigonvita's finances. China granted conditional marketing approval for the drug in January 2023 and folded it into the national medical insurance system a year later, although by then the pandemic had subsided.
The drug brought in revenues of 110 million yuan ($15.02 million) in the first half of 2023, according to earnings data from Junshi Biosciences, but after that the company stopped releasing specific product figures. Vigonvita is currently working on widening the clinical use of VV116 to cover respiratory syncytial virus (RSV) infections in children. Phase Three clinical trials are expected to be launched in the third quarter of 2025.
The research alliance that produced the Covid drug has also developed two other candidate treatments for which Vigonvita holds the intellectual property rights. According to the IPO prospectus, the company's co-founder and second biggest shareholder, Tian Guanghui, played a key role in developing the two drugs, LV232 and TPN171.
The first of those, a treatment for depression, will enter Phase Two trials in China in the first quarter of 2025. The company expects its TPN171 drug for erectile dysfunction to get marketing clearance in China in the middle of this year, after it was already approved in Uzbekistan. The income would be a welcome boost for the company, after revenues plunged last year.
<h4 class="wp-block-heading">Falling from a high base</h4>
Product sales have not been the company's main source of revenue. Instead, the bulk of the firm's earnings come from licensing deals, contract research services and pharmaceutical sales. On that basis the company brought in 190 million yuan in 2023 and revenues of 10 million yuan in the first nine months of 2024, but it made a net profit of just 48.51 million yuan and a loss of 151 million yuan in the two periods.
The prospectus blamed the sharp drop on a high base effect, after the previous year's earnings had been boosted by milestone payments and the sale of rights relating to VV116. An analysis of the firm's top five revenue sources shows 102 million yuan coming from Junshi Biosciences in 2023, and payments from the supplier of active ingredients amounting to 94.34 million yuan. But in the first three quarters of last year the input from Junshi Biosciences was a mere 7.98 million yuan and there was no payment from the other partner.
With licensing money drying up, Vigonvita quickly fell back into the red, although its research credentials helped it maintain access to capital. The company completed five rounds of financing between 2020 and 2024. The Series B financing in April 2022 boosted the firm's valuation to 4.2 billion yuan from 1.57 billion yuan four months earlier. The last round of Series C in April 2024 brought in another 160 million yuan, pushing the value to 4.45 billion yuan.
Cash and cash equivalents held by Vigonvita had fallen to 95.05 million yuan at the end of September last year. In the absence of licensing revenue and more drug launches, the IPO is an opportunity for the company to replenish its coffers for future R&amp;D.

Biotech

IPOs

As Covid Drug Cash Dwindles, Vigonvita Targets New Remedies

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) AI-driven Visual Intelligence feature is reportedly coming to iPhone 15 Pro models in an upcoming iOS update.
What Happened: Apple Intelligence, the company's suite of AI-powered features, includes Visual Intelligence, which allows users to analyze objects, translate text, and search for information in real-time using their iPhone's camera.
While iPhone 16 and 16 Pro users can trigger the feature using a dedicated camera button, the iPhone 15 Pro and Pro Max and <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">newly launched</a> iPhone 16e lack this hardware.
See Also: <a href="https://in.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies">Apple Stock Has Run Up Over 10% In A Month, Jim Cramer Says iPhone Maker Is &#8216;Ramping&#8217; And The Credit Goes To Chinese Subsidies</a>
&#8220;Apple's solution to enable visual intelligence on the iPhone 16e, despite it lacking the Camera Control button, is two-fold. First, visual intelligence is now available in the Control Center. Second, as demonstrated by Apple in the announcement video, you can assign the Action Button to visual intelligence,&#8221; said Daring Fireball's John Gruber.
Gruber further said that Cupertino will likely assign Visual Intelligence to the Action button or use a Control Center shortcut, citing an Apple representative.
Apple hasn't confirmed which iOS version will bring Visual Intelligence to iPhone 15 Pro models, but Gruber speculates it may arrive in iOS 18.4, which could enter beta testing "any day now."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple's decision to extend Visual Intelligence to iPhone 15 Pro users reduces the pressure to upgrade to the iPhone 16 series for AI-driven camera enhancements.
Since its launch in September 2023, the iPhone 15 Pro series has seen significant adoption, with the Pro and Pro Max models accounting for 5.44% and 6.83% of the market by November 2024, <a href="https://www.statista.com/statistics/1447263/iphone-15-adoption-rate-by-model-worldwide/?__sso_cookie_checker=failed">according</a> to Statista.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://in.benzinga.com/markets/25/02/43840286/apples-iphone-16e-to-drive-revenue-growth-for-tim-cooks-company-says-top-analyst">Apple&#8217;s iPhone 16e To Drive Revenue Growth For Tim Cook&#8217;s Company, Says Top Analyst</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

Apple's Visual Intelligence May Come To iPhone 15 Pro: Here's How It Can Transform Your Camera With AI-Powered Real-Time Search

CRWD CLIMBS OVER 14 POINTS AFTER THE ALERT
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="891" height="632" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM.png" alt="" class="wp-image-6162" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM.png 891w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM-300x213.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM-768x545.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></figure>
CrowdStrike Holdings, Inc. (CRWD) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:02 AM on February 20th, a significant trading signal occurred for CrowdStrike Holdings, Inc. (CRWD) as it demonstrated a Power Inflow at a price of $422.37. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in CrowdStrike&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in CrowdStrike&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted as a bullish signal by active traders.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for CRWD, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts. 
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data brought to you by Benzinga APIs</a> and include firms, like&nbsp; &nbsp; <a href="https://www.tradepulse.net">https://www.tradepulse.net</a>&nbsp; which are responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $422.37. The returns on the High price ($436.75) and Close price ($436.14)after the Power Inflow were respectively 3.4% and 3.3%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case, the high of the day and close were very close but that is not always the case
Past Performance is Not Indicative of Future Results

Technicals

TRADEPULSE POWER ALERT: CROWDSTRIKE HOLDINGS INC.,CRWD,MOVES UP 3.4% AFTER ALERT FROM TRADEPULSE

Kash Patel, the newly confirmed Federal Bureau of Investigation director, has significant exposure to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), according to a financial disclosure.
What happened: Patel reported holding between $50,001 and $100,000 in the Grayscale Bitcoin Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) and up to $15,000 in its &#8220;spin-off,&#8221; the Grayscale Bitcoin Mini Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>).
Additionally, he owned a stake worth between $50,001 and $100,000 in leading Bitcoin mining firm Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>).
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Why It Matters: The disclosure was the latest evidence of the involvement of high-ranking officials of the Donald Trump administration in cryptocurrency.&nbsp;&nbsp;
Apart from the president, who holds a significant amount of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936887/trumps-treasury-pick-scott-bessent-reveals-up-to-500000-bitcoin-stake-via-blackrocks-etf">Treasury Secretary</a> Scott Bessent, Health Secretary Robert F. Kennedy Jr., and <a href="https://www.benzinga.com/general/market-summary/25/02/43809086/us-commerce-secretary-howard-lutnicks-cantor-fitzgerald-increases-bitcoin-exposure-via-etfs-mstr-mara-adds-chinese-firms-like-baba-baidu-jd-in-q4">Commerce Secretary</a> Howard Lutnick have invested in digital assets.
Patel, who was confirmed as FBI director by the Senate on Thursday, previously worked for Trump on the National Security Council in 2019. He also helped with the Pentagon transition effort from Trump to Biden.
Moreover, Patel <a href="https://www.benzinga.com/politics/24/12/42278429/trump-fbi-pick-kash-patels-wealth-has-grown-from-trump-media-board-position-consulting-deal-and-trump-themed-childrens-books">served as a director</a> on the board of Trump Media &amp; Technology Group, which was co-founded by Trump. In the disclosure, Patel said he would terminate the position before taking charge as the FBI director.
Price Action: At the time of writing, Bitcoin was exchanging hands at $98,300.91 up 1.16% 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>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

$ETH

Core Scientific, Inc. - Class A Common Stock

CORZ

GBTC

TSX:ETF

New FBI Director Kash Patel Holds Over $100,000 In Bitcoin ETFs, Has Significant Exposure To BTC Miner Core Scientific

As quantum computing stocks resume their rally after a steep year-to-date decline following Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) &#8216;Majorana 1&#8217; launch, we look at the top five holders of these companies according to the Security Exchange Commission&#8217;s (SEC) 13F filings.
What Happened: Assessing the 13F filings for the fourth quarter, we found that BlackRock, Inc. and Vanguard Group Inc., which also issue several exchange-traded funds, had major positions in quantum computing stocks.
Vanguard&#8217;s total investment value in Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>), Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>), D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), and IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stood at $1.201 billion during the fourth quarter.
Similarly, BlackRock&#8217;s total investment was valued at $942.637 million.
Both Vanguard and BlackRock were among the top five holders of these four stocks. State Street Corp., on the other hand, featured among the top five holders of three companies.
<h3 class="wp-block-heading">Rigetti Computing</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>11,892,972</td>
<td>$181.486 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>11,746,361</td>
<td>$179.249 million</td>
</tr>
<tr>
<td>American Assets Investment Management, LLC</td>
<td>7,221,216</td>
<td>$110.195 million</td>
</tr>
<tr>
<td>Invesco Ltd.</td>
<td>4,580,317</td>
<td>$69.895 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>4,329,019</td>
<td>$66.060 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Quantum Computing</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Anson Funds Management LP</td>
<td>4,230,000</td>
<td>$70.006 million</td>
</tr>
<tr>
<td>Alyeska Investment Group, LP</td>
<td>4,230,000</td>
<td>$69.613 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>4,186,729</td>
<td>$69.290 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>1,220,816</td>
<td>$20.204 million</td>
</tr>
<tr>
<td>UBS Group AG</td>
<td>1,153,053</td>
<td>$19.083 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">D-Wave Quantum</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Public Sector Pension Investment Board</td>
<td>40,057,252</td>
<td>$336.480 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>8,618,832</td>
<td>$72.398 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>7,118,322</td>
<td>$59.793 million</td>
</tr>
<tr>
<td>UBS Group AG</td>
<td>4,332,107</td>
<td>$36.389 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>3,085,359</td>
<td>$25.917 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">IonQ Inc</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>21,374,125</td>
<td>$892.797 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>16,005,601</td>
<td>$668.553 million</td>
</tr>
<tr>
<td>Morgan Stanley</td>
<td>6,264,258</td>
<td>$261.658 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>4,588,126</td>
<td>$191.646 million</td>
</tr>
<tr>
<td>Geode Capital Management LLC</td>
<td>4,466,094</td>
<td>$186.592 million</td>
</tr>
</tbody>
</table>
</figure>
Please note that these tables exclude any options held by firms
See Also: <a href="https://www.benzinga.com/government/regulations/25/02/43875557/donald-trump-airs-fort-knox-inspection-as-gold-edges-closer-to-3000-it-is-an-essential-component-of-portfolio-says-expert">Gold Is An &#8216;Essential Component&#8217; Of Portfolio, Says Expert As It Nears $3000 While Trump, Musk Suggest Fort Knox Inspection Amid The Surge</a>
Why It Matters: Quantum computing stocks <a href="https://www.benzinga.com/25/02/43844926/quantum-computing-stocks-rgti-qubt-ionq-qbts-cheer-microsofts-majorana-1-launch-satya-nadella-calls-it-a-physics-and-fabrication-breakthrough">jumped</a> after MSFT&#8217;s CEO Satya Nadella launched its chip &#8216;Majorana 1&#8217;. These chips use a different phase of matter called the topological phase for conducting qubits of information.
Nadella described it as &#8220;the transistor moment of quantum computing,&#8221; in the podcast with Dwarkesh Patel.
Following the announcement, the stocks edged higher on Wednesday, following their momentum on Tuesday. However, IonQ, which is backed by Bill Gates&#8216; Breakthrough Energy venture bucked the trend and fell.
Price Action: The stocks were still down in 2025 despite the &#8216;Majorana 1&#8217; bump. The stocks were mixed in premarket on Friday. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>Friday Premaret</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</td>
<td>3.99%</td>
<td>-1.22%</td>
<td>-42.65%</td>
</tr>
<tr>
<td>Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</td>
<td>1.63%</td>
<td>0.25%</td>
<td>-56.88%</td>
</tr>
<tr>
<td>D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</td>
<td>13.00%</td>
<td>0.14%</td>
<td>-23.10%</td>
</tr>
<tr>
<td>IonQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</td>
<td>-1.14%</td>
<td>-0.30%</td>
<td>-21.69%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>0.41%</td>
<td>0.23%</td>
<td>3.99%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43875446/walmarts-ai-use-cases-surge-amid-strong-q4-even-as-company-forecasts-weaker-2026">Walmart Expands AI Use Beyond Optimizing Delivery Routes, To Tackling Inventory Issues And Delivering Code Faster</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

IONQ

MSFT

QBTS

QTUM

QUBT

RGTI

Top Holders Of Quantum Computing Stocks In Q4: BlackRock, Vanguard, UBS, State Street Pour Money In Rigetti, D-Wave, IonQ, QUBT

Pony.ai has already introduced paid robotaxi rides to and from Beijing Daxing International Airport and to and from Beijing South Railway Station. The simultaneous expansion in Guangzhou's city center and its key transit hubs represents another milestone in the Company's commercialization of autonomous mobility.

PONY

Pony.ai Launches First Robotaxi Service Connecting Guangzhou's City Center To Airport And Railway Station

Integrating advanced data analytics into clinical practice to improve patient care

Philips And Mass General Brigham Collaborate To Unify Medical Data With AI For Smarter Clinical Decisions

Macro Economic Events

Econ #s

Economics

U.K. Services Purchasing Managers Index Preliminary For February 51.1 Vs. 50.8 Est.; 50.8 Prior

U.K. Manufacturing Purchasing Managers Index Preliminary For February 46.4 Vs. 48.5 Est.; 48.3 Prior

U.K. Composite Purchasing Managers' Index Preliminary For February 50.5 Vs. 50.5 Est.; 50.6 Prior

Amid escalating trade tensions between the U.S. and China, Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook is said to have met President Donald Trump.
What Happened: Citing an anonymous source, <a href="https://www.bloomberg.com/news/articles/2025-02-20/apple-s-tim-cook-meeting-with-trump-as-tariffs-threaten-iphones">Bloomberg </a>reported a possible meeting between Cook and Trump at the White House. The purpose of the meeting, however, remains undisclosed.
The escalating trade war between the US and China has put Apple in a tricky situation. The Trump administration&#8217;s&nbsp;10% tariff on Chinese goods&nbsp;could potentially hinder Apple&#8217;s efforts to revive its sluggish iPhone sales.
Moreover, China, Apple&#8217;s largest manufacturing hub, is contemplating an investigation into the company&#8217;s&nbsp;policies and the fees it&nbsp;charges app developers. 
Also, this month,&nbsp;<a href="https://www.benzinga.com/news/global/25/02/43554574/apple-faces-mounting-pressure-from-uk-government-to-grant-spying-access-to-encrypted-data-of-users-worldwide">Apple faced pressure</a>&nbsp;from the U.K. government to create a backdoor for accessing the encrypted data of its users worldwide. 
This meeting with President Trump could be seen in the context of tariffs and privacy-related concerns from the U.K.
Apple did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO: <a href="https://www.benzinga.com/personal-finance/25/02/43856927/billionaire-blackrock-ceo-larry-fink-says-people-are-saving-too-much-and-not-investing-enough-to-retire-with-dignity">Billionaire Blackrock CEO Larry Fink Says People Are Saving Too Much And Not Investing Enough To &#8216;Retire With Dignity&#8217;</a>
Why It Matters: The tariffs imposed by the Trump administration raised concerns over the impact on the pricing of Apple products. <a href="https://www.benzinga.com/markets/equities/25/02/43839627/apple-may-hike-iphone-prices-by-9-due-to-trumps-tariffs-says-bank-of-america">Analysts at the Bank of America</a>&nbsp;securities have suggested that Apple may need to increase iPhone prices by 9% to counter the tariffs. 
The iPhone maker tried to shift its supply chain from China to India and Vietnam. While India is a major assembling hub for iPhones, Vietnam is a major hub for AirPods. However, the Chinese government is setting obstacles to this shift and has resorted to tightening controls on advanced equipment and critical materials. Additionally, the reciprocal tariffs on India announced by Trump have also become a cause of concern for the Tim Cook-led company.
Post-election, Cook had expressed his willingness to engage with the Trump administration. However, the two have previously had disagreements over Apple&#8217;s privacy policies, with Trump insisting that Apple should do more to assist federal law enforcement in accessing encrypted phones. Apple has consistently opposed such requests citing potential dangers from hackers. 
Despite these challenges, <a href="https://www.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies">Apple&#8217;s stock has surged over 10%</a> in the past month, with CNBC's Jim Cramer attributing the momentum to the Chinese government&#8217;s national consumer subsidy programs that also cover Apple products.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">Rivian Automotive Q4 Earnings Highlights: Revenue Beat, EPS Beat, 2025 Guidance, R2 Update</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.

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