Latest news for ENGlobal (OTC:ENGC) Stock

ENGlobal Corp engages in providing engineering and professional services to the energy industry. The company operates through two segments Commercial and Government Services. The Commercial segment derives revenue on contracts from time-and-material fees charged for professional and technical services. The Government segment provides services related to the design, integration and implementation of process distributed control and analyzer systems, advanced automated data gathering systems, information technology and the maintenance of these systems to the U.S. Government globally.

ENGlobal Corp

Engcon AB

Rapid Initiation Protocol Reduces Time to Treatment with SUBLOCADE&#xAE; From One Week to One Hour, A Significant Advancement in the Treatment of Moderate to Severe Opioid Use Disorder (OUD)

News

INDV

FDA Approves Label Changes For Indivior's SUBLOCADE, Cutting Start Time To One Hour

ELCAN Specter DR dual role sight enhances optical capabilities for NATO allies

RTX Secures Additional NSPA Contract To Replace Old Sights With ELCAN Specter DR

<ul>
<li>Loop Industries supplied 100% recycled, virgin-quality Polyester chips derived from low-value textile waste.</li>
<li>Hyosung TNC transformed Loop Polyester chips into high-performance drawn textured yarn.</li>
<li>Pleatsmama crafted stylish, eco-friendly handbags emphasizing circular design principles.</li>
</ul>

LOOP

Reported Sunday, Loop Industries, Hyosung TNC And Pleatsmama Collaborate To Redefine Circular Fashion With 100% Recycled Polyester

A widely followed cryptocurrency commentator made a bold prediction about the potential of the frog-themed token Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) on Sunday, likening its structure to that of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) during the 2021 bull market.
What Happened: Iyx, known for studying chart patterns of popular meme coins, said that the potential of PEPE&#8217;s next move is &#8220;unlimited,&#8221; drawing a parallel with Dogecoin&#8217;s explosive run to $90 billion market valuation in 2021.
The commentator said that Bitcoin reaching $150,000 will infuse significant liquidity in the market, enabling &#8220;massive&#8221; pumps for top-tier coins like PEPE. 
&#8220;PEPE might be the first meme to hit $100 billion valuation on his first cycle,&#8221; Iyx projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> is building a <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> like structure just before it exploded to 90b mc but on a higher time frame which means the potential of the next <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> leg is truly almost unlimited The way i see it when <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hits 150k the amount of money in the crypto market will skyrocket which… <a href="https://t.co/dRtW6IVqST">pic.twitter.com/dRtW6IVqST</a>
&mdash; lyx (@DexGemsReal) <a href="https://twitter.com/DexGemsReal/status/1893782816858742859?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, another well-known analyst Max Schwartzman, &nbsp;shared a custom pair chart for PEPE, correlating the coin&#8217;s accumulation with its price action. 
The analysis indicated a negative relationship between the accumulation by whales and the price. This meant that large investors aggressively stocked PEPE, while retail investors sold the tokens.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I created a very interesting custom pair chart for <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> that I think gives a tremendous amount of high time frame signal. The black line is a ratio showing (% of Tokens Held by Whales&#x2797;% of Tokens Held by Retail)&#8230; More simply put&#8230; Black Line Up = Whales Accumulating… <a href="https://t.co/GkUdHe9oXO">pic.twitter.com/GkUdHe9oXO</a>
&mdash; Max (@MaxBecauseBTC) <a href="https://twitter.com/MaxBecauseBTC/status/1893774746376106489?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/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 bullish expectations come amid PEPE&#8217;s corrective phase, which has seen the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based coin plunge nearly 40% in a month. 
PEPE&#8217;s Bull Bear Power indicator, which measures the strength of buyers and sellers in the market, was &#8220;Neutral&#8221; as of this writing, while the Momentum indicator, which compares the short-term price and long-term price, flashed a "Sell" signal, according <a href="https://in.tradingview.com/symbols/PEPEUSDT/technicals/">to</a> TradingView.
Over the last 24 hours, PEPE balance held by long-term holders increased by 0.04%,&nbsp;<a href="https://app.intotheblock.com/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to IntoTheBlock, indicating accumulation.
Price Action: At the time of writing, PEPE was exchanging hands at $0.000009025, down 5.45% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/25/02/43903229/advisors-remain-divided-on-crypto-but-sec-approvals-demand-are-shifting-views">Advisors Remain Divided On Crypto, But SEC Approvals, Demand Are Shifting Views</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>
Photo courtesy: Shutterstock

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

Cryptocurrency

Markets

$DOGE

$ETH

$PEPE

PEPE's Structure Similar To Dogecoin's 2021 Bull Cycle, Says Analyst Who Sees 'Unlimited' Potential For The Frog-Themed Crypto

Nordnet AB Adopts Broadridge's Digital Tool For Secure Shareholder Disclosures

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="4" rowspan="1">2025 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">1Q 2025</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">FY 2025 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Production(1,2,3)</td>
<td colspan="1" rowspan="1">62,000 - 66,000 boe per day</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">70,000 - 80,000 boe per day</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Opex(4)</td>
<td colspan="1" rowspan="1">$23.00 - $25.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$18.00 - $20.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">DD&amp;A</td>
<td colspan="1" rowspan="1">$25.00 - $27.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$22.00 - $24.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">G&amp;A(~65% cash)</td>
<td colspan="1" rowspan="1">~$25 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$80 - $100 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Exploration Expense(5)</td>
<td colspan="1" rowspan="1">~$10 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$25 - $45 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Interest Expense</td>
<td colspan="1" rowspan="1">~$45 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$180 - $200 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Tax</td>
<td colspan="1" rowspan="1">$3.00 - $5.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$6.00 - $8.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Capital Expenditure</td>
<td colspan="1" rowspan="1">$100 - $120 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&lt;$400 million</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

Earnings

Guidance

Kosmos Energy 2025 Guidance: Expects Production Of 70,000–80,000 Boe Per Day, Operating Expenses Of $18–$20 Per Boe, And Capital Expenditures Under $400M

President Donald Trump issued written orders to the Committee on Foreign Investment in the United States (CFIUS) to curb Chinese investments in strategic sectors, marking a significant escalation in the administration&#8217;s economic measures against China.
What Happened: The White House memorandum, titled the &#8220;America First Investment Policy,&#8221; affirms the U.S.&#8217;s openness to foreign investment while directing CFIUS to impose restrictions on Chinese investments in key sectors such as technology, critical infrastructure, healthcare, agriculture, energy, and raw materials. It also proposes new regulations to prevent foreign adversaries like China from exploiting capital, technology, and intellectual resources.
Referring to the People&#8217;s Republic of China (PRC), the memorandum states, &#8220;The PRC does not allow United States companies to take over their critical infrastructure, and the United States should not allow the PRC to take over United States critical infrastructure.&#8221;
The Trump administration is also considering implementing new or stricter restrictions on outbound investments to Beijing in industries such as semiconductors, artificial intelligence, quantum technology, biotechnology, and aerospace. The directive seeks to protect US investors by auditing foreign companies listed on US exchanges and preventing companies from foreign adversaries from receiving pension plan contributions.
While the directive primarily targets China, it also aims to encourage investment from allied trading partners by establishing a &#8220;fast-track&#8221; process for facilitating projects.&nbsp;The memo also mentions that the U.S. will fast-track environmental reviews for investments exceeding $1 billion.
In response, the Chinese Ministry of Commerce, on Saturday, stated that this directive will significantly disrupt regular economic and trade collaboration between Chinese and U.S. businesses, reported China Daily. 
SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43902885/wolff-book-ivanka-trump-and-jared-kushner-refused-to-sign-statement-saying-trump-is-not-antisemitic">Wolff Book: Ivanka Trump and Jared Kushner Refused to Sign Statement Saying Trump Is Not Antisemitic</a>
Why It Matters:&nbsp;This directive comes at a time when Chinese players like DeepSeek startup as well as listed companies like Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), are <a href="https://www.benzinga.com/news/25/02/43770990/chinas-ai-boom-is-reshaping-the-global-economy-and-the-u-s-isnt-ready">ramping up their AI game</a> in a bid to compete with the U.S.
Notably, data from&nbsp;the American Enterprise Institute released in January showed that Chinese investment deals in the U.S. in the first half of 2024, stood at $860 million, marking a massive decline since 2017 at $46.86 billion. Danielle Goh, senior research analyst at Rhodium Group had previously told CNBC, that the decline is a result of U.S. regulations as well as Beijing&#8217;s tightened control over capital outflows in 2017. She doesn&#8217;t expect investments to recover to peak levels in the &#8216;foreseeable future&#8217;. 
Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times that Washington&#8217;s latest move could severely hinder technological and trade cooperation between the two nations. He also warned that excessive restrictions could lead to an overdependence on limited domestic supply sources, reinforcing monopolies, increasing costs, and reducing efficiency—ultimately weakening the security of U.S. industry and technology.
Meanwhile, the Chinese Ministry of Commerce stated that China will closely monitor the actions of the U.S. and take appropriate measures to protect its legitimate rights and interests.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43880898/im-in-awe-bill-gates-says-elon-musk-is-brilliant-rich-and-influential-but-admits-hes-been-mean-to-me-at-times">&#8216;I&#8217;m In Awe&#8217; — Bill Gates Says Elon Musk Is Brilliant, Rich, And Influential, But Admits He&#8217;s Been &#8216;Mean To Me At Times&#8217;</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.

Politics

Tech

BABA

BIDU

Trump Orders Crackdown On Chinese Investments In Key Sectors Including Technology Citing 'National Security' Concern

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="4" rowspan="1">2025 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">1Q 2025</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">FY 2025 Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Production(1,2,3)</td>
<td colspan="1" rowspan="1">62,000 - 66,000 boe per day</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">70,000 - 80,000 boe per day</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Opex(4)</td>
<td colspan="1" rowspan="1">$23.00 - $25.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$18.00 - $20.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">DD&amp;A</td>
<td colspan="1" rowspan="1">$25.00 - $27.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$22.00 - $24.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">G&amp;A(~65% cash)</td>
<td colspan="1" rowspan="1">~$25 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$80 - $100 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Exploration Expense(5)</td>
<td colspan="1" rowspan="1">~$10 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$25 - $45 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Interest Expense</td>
<td colspan="1" rowspan="1">~$45 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$180 - $200 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Tax</td>
<td colspan="1" rowspan="1">$3.00 - $5.00 per boe</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$6.00 - $8.00 per boe</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Capital Expenditure</td>
<td colspan="1" rowspan="1">$100 - $120 million</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&lt;$400 million</td>
</tr>
</tbody>
</table>
</figure>

Kosmos Energy Q1 Guidance: Expects Production Of 62,000–66,000 Boe Per Day, Operating Expenses Of $23–$25 Per Boe, And Capital Expenditures Of $100M–$120M

Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.01 by 400 percent. This is a 109.68 percent decrease over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $397.56 million which beat the analyst consensus estimate of $387.35 million by 2.64 percent. This is a 21.71 percent decrease over sales of $507.81 million the same period last year.

Earnings Beats

Earnings Misses

Kosmos Energy Q4 2024 Adj EPS $(0.03) Misses $0.01 Estimate, Sales $397.56M Beat $387.35M Estimate

SSNC

Reported Sunday, SS&C GlobeOp Chosen By Arrowpoint Investment Partners To Administer Its Flagship $1B Multi-Strategy Fund

A prolonged period of unusually low junk bond spreads could be setting the stage for a dramatic market reversal, according to this economist, who sees eerie similarities to the pre-crisis conditions of May 2007.
What Happened: The credit spreads of high-yield or junk corporate bonds have remained below 3% for over 100 days, highlights the macro strategist at Crescat Capital, Otavio Costa in an X post.
According to Costa, a trend like this was observed in May 2007 which followed a spike in volatility and shattered market complacency, triggering a sharp widening of spreads. He draws a parallel between this incident to the current situation.
&#8220;Tight credit spreads are like tinder — just waiting to catch fire,&#8221; Costa added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Junk bond spreads have stayed below 3% for 100 straight days. The last time this happened was in May 2007, and within two months, volatility spiked, marking the end of an era of investor complacency. As I've always said: Tight credit spreads are like tinder — just waiting to… <a href="https://t.co/nurBRbqQbn">pic.twitter.com/nurBRbqQbn</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1893785921469714475?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/02/43878703/institutional-investors-load-up-on-technology-and-financial-stocks-in-q4-while-reducing-positions-in-healthcare-sector-amid-political-uncertainty">Institutional Investors Load Up On Technology And Financial Stocks In Q4 While Reducing Positions In Healthcare Sector Amid Political Uncertainty</a>
Why It Matters: A junk or a high-yield corporate bond is a debt instrument that has a below-investment-grade credit rating, whereas a credit spread is the difference between the yield on the junk bond and the yield on a comparable U.S. Treasury bond. The spread represents the extra return of the high-yield bond above the Treasury bond.
A lower credit spread indicates that a bond is considerably safer and investors are more confident in the ability of a company to repay its debts. A prolonged period of lower spreads could signal excessive risk-taking by investors, as they may become complacent about potential risks.
The graph shared by Costa highlights Bloomberg U.S. Corporate High Yield Average Options-Adjusted Spreads, which have been below 3% for 100 straight days. According to him, this is a warning signal of upcoming volatility.
Price Action: As of Feb. 21, the 10-year Treasury yield stood at 4.43%, while the two-year yield was at 4.20%. Also, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Friday. SPY declined 1.71% to $599.94, and QQQ plunged 2.07% to $526.12, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43876325/quantum-computing-top-holders-in-q4-blackrock-vanguard-ubs-state-street-pour-money-in-rigetti-d-wave-ionq-qubt">Top Holders Of Quantum Computing Stocks In Q4: BlackRock, Vanguard, UBS, State Street Pour Money In Rigetti, D-Wave, IonQ, QUBT</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Market Summary

Bonds

Economics

Economist Warns Junk Bond Spreads Are Flashing 2007 Crisis Warning Signs: '…Just Waiting To Catch Fire'

Globe Telecom, Nokia collaborate on network APIs to provide banks with enhanced security #MWC25
<ul>
<li>Globe tests Nokia's Network Exposure Platform (NEP) to enhance security in financial services. &nbsp;</li>
</ul>

Globe Telecom, Nokia Collaborate On Innovative Network API Solutions To Fortify Bank Security

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is facing escalating brand challenges as vandals targeted a Supercharger station with Nazi symbols and hate speech, the latest in a series of incidents reflecting growing public hostility toward the electric vehicle maker.
What Happened: The vandalism, reported on Sunday by tech YouTuber Quinn Nelson, prompted Tesla&#8217;s charging division to announce immediate removal plans and pledge to pursue charges against perpetrators. &#8220;We will press charges for vandalism at Superchargers,&#8221; Tesla wrote. 
This incident <a href="https://www.benzinga.com/news/25/02/43767326/after-being-punched-for-driving-a-cybertruck-this-tesla-owner-is-leaving-1-bills-on-other-cybertrucks-to-spread-the-love">follows similar attacks</a>, including vandalism at a Massachusetts charging station and a Cybertruck being damaged in Brooklyn.
The backlash comes amid controversy surrounding CEO Elon Musk&#8216;s role as head of the Department of Government Efficiency (DOGE) under President Donald Trump&#8216;s administration, where his aggressive agency restructuring and federal worker terminations have drawn criticism from constitutional experts.
<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">Will be removed by tomorrow morning. Our network will stay in first class condition for our customers.
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1893854459568042490?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We will press charges for vandalism at Superchargers
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1893869997274935398?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/25/02/43905455/bitcoin-dogecoin-disappointed-traders-but-this-10-days-old-crypto-delighted-with-a-smashing-138-rally-last-week">Bitcoin, Dogecoin Stumble, But This New Crypto Skyrockets 140% In A Week</a>
Why It Matters: Notable Tesla investor Ross Gerber highlighted the brand damage, announcing <a href="https://www.benzinga.com/markets/equities/25/02/43761581/ross-gerber-says-hes-eventually-selling-his-cybertruck-because-the-hate-is-real-as-protests-rock-tesla-showrooms">plans to sell his Cybertruck</a> after encountering anti-Musk graffiti. &#8220;The Tesla brand is broken,&#8221; Gerber posted on X.
The company faces mounting challenges across markets. Last week protesters gathered outside Tesla showrooms nationwide, with demonstrations in New York, Seattle, and California drawing up to 100 people. Singer Sheryl Crow publicly documented selling her Tesla Saturday, citing concerns about Musk&#8217;s political alignment.
Wedbush Securities analyst Dan Ives maintains a bullish $550 price target <a href="https://www.benzinga.com/markets/equities/25/02/43761581/ross-gerber-says-hes-eventually-selling-his-cybertruck-because-the-hate-is-real-as-protests-rock-tesla-showrooms">despite these challenges</a>, arguing that brand concerns are &#8220;bark way worse than the bite.&#8221; However, Tesla reported its first annual sales decline in 2024, and German sales dropped 60% year-over-year in January following Musk&#8217;s support for the far-right Alternative für Deutschland party.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43905475/elon-musks-truth-seeking-grok-ai-silences-trump-and-tesla-ceos-misinformation-claims-then-backtracksxai-blames-former-openai-employee">Elon Musk&#8217;s Grok AI Silences Trump, Tesla CEO&#8217;s Misinformation Claims, Then Backtracks — xAI Blames Former OpenAI Employee</a></li>
</ul>
Photo courtesy: Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA

Elon Musk-Led Tesla's Supercharger Vandalized With Nazi Symbols, EV Giant Says It 'Will Press Charges'

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is poised to deliver another strong earnings performance this week, according to Wedbush Securities analyst Dan Ives, as artificial intelligence demand continues to drive growth for the semiconductor giant.
What Happened: &#8220;We expect another robust performance and &#8216;clear beat and raise special&#8217; this week from Nvidia that should calm the nerves of investors,&#8221; Ives wrote on X on Sunday, citing massive demand drivers from the company&#8217;s new Blackwell architecture and AI capital expenditure fueling what he called the &#8220;4th Industrial Revolution.&#8221;
The chipmaker&#8217;s fiscal fourth-quarter results, due after market close on Wednesday, are expected to show revenue growth of 72% year-over-year, with sequential growth of at least 8%. This performance would mark Nvidia&#8217;s consistent streak of beating consensus revenue estimates <a href="https://www.benzinga.com/content/43811314/analysts-see-buying-opportunity-in-nvidia-before-earnings">since before 2020</a>.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We expect another robust performance and &quot;clear beat and raise special&quot; this week from Nvidia that should calm the nerves of investors as the Godfather of AI Jensen lays out the massive demand drivers from Blackwell and AI Capex fueling this 4th Industrial Revolution &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1893798795005001776?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Evercore ISI recently added Nvidia to their Tactical Outperform list, emphasizing the company&#8217;s five-to-ten-year technological lead over competitors. The firm noted Nvidia remains the top choice for major tech companies including Alphabet Inc., Amazon.com Inc., and Microsoft Corp.
The company&#8217;s robust financial position adds to investor confidence, with cash reserves up nearly 50% to $38.5 billion at the end of the third quarter, exceeding total liabilities. Despite an expected slowdown in growth rate, analysts project sustained high-double-digit growth through 2025.
Nvidia&#8217;s stock has already rebounded 20% from its late January low, with analyst consensus suggesting a potential 20% upside from mid-February levels. Tigress Financial recently reiterated this optimistic outlook, upgrading the stock to Strong Buy with a <a href="https://www.benzinga.com/content/43811314/analysts-see-buying-opportunity-in-nvidia-before-earnings">price target of $220</a>.
Price Action: Nvidia closed at $134.40 on Friday, down 4.08%. After hours, it rose 0.45%. Year to date, it&#8217;s down 2.83%, with a 52-week range of $66.25 to $153.13, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald" target="_blank" rel="noreferrer noopener">Warren Buffett Favors 5% Treasury Bills Over Buybacks As Berkshire Hathaway's Cash Pile Balloons To $334 Billion: ‘The Rate Of Change… That's Most Telling,' Says Expert</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.

AMZN

GOOGL

MSFT

NVDA

Nvidia Set For 'Clear Beat And Raise Special' As AI Demand Surges, Says Dan Ives

Ad hoc announcement pursuant to art. 53 SIX Swiss Exchange Listing Rules
<ul>
<li>Key biosimilar value driver contributes to Sandoz global growth strategy and moves company closer to becoming #1 in biosimilars in US</li>
<li>Strengthens US immunology portfolio and increases access to biologics for patients suffering from chronic inflammatory diseases, such as psoriasis and psoriatic arthritis</li>
<li>Meeting a variety of patient needs, Pyzchiva&#xAE; offers full suite of dosing options and extended stability compared with reference medicine</li>
</ul>

SDZNY

SDZXF

Sandoz Launches FDA-Approved Pyzchiva Biosimilar To Bolster US Immunology Portfolio And Revolutionize Treatment For 12 Million Patients

SpaceX CEO Elon Musk said on Sunday that the next test flight of its Starship launch vehicle will be on <a href="https://www.benzinga.com/general/space/25/02/43874743/elon-musks-spacex-starships-8th-test-flight-could-launch-as-early-as-feb-26">Friday or Feb. 28</a>.
What Happened: &#8220;Starship Flight 8 flies Friday,&#8221; Musk wrote briefly on social media platform X.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Starship Flight 8 flies Friday <a href="https://t.co/CmOdg13e6K">pic.twitter.com/CmOdg13e6K</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1893821821838819487?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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SpaceX last launched Starship on Jan. 16.&nbsp;The spacecraft lifted off from Starbase in Texas at 4:37 p.m. CT, and the vehicle booster landed back at the launch site after separation from its first stage.
The spacecraft, however,&nbsp;<a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed" target="_blank" rel="noreferrer noopener">disintegrated in space during the flight test.</a>&nbsp;The spacecraft was carrying 10 Starlink simulators, which were similar in size and weight to the company's next-generation Starlink satellites,&nbsp;as payload.
The FAA subsequently ordered an investigation into the incident following reports of public property damage in Turks and Caicos. The probe will be spearheaded by SpaceX itself but the federal agency must approve the final report and corrective actions made to prevent a recurrence of the issue. Starship cannot fly again until the probe is concluded.
Musk&#8217;s post hints that the probe is either concluded or expected to be concluded before Friday. 
Why It Matters:&nbsp;The upcoming test flight would be Starship's eighth to date and second this year. SpaceX started testing Starship in April 2023.
The Starship vehicle is part of big dreams. While NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of Starship</a>, Musk is dreaming of taking&nbsp;<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">humans to the planet Mars</a>&nbsp;aboard Starship. However, the vehicle is currently in the testing and development phase.
"…I would not be surprised if we fly 400 Starship launches in the next four years,&#8221; SpaceX President and COO&nbsp;Gwynne Shotwell&nbsp;<a href="https://www.benzinga.com/general/space/24/11/42105704/spacex-ceo-elon-musk-reveals-technical-glitch-that-led-company-to-drop-key-objective-of-starships-6th-test-flight" target="_blank" rel="noreferrer noopener">said at the Baron Investment Conference</a>&nbsp;in New York in November.
Starship, the President then said, will eventually take SpaceX "over the top as one of the most valuable companies."
Check out more of Benzinga&#8217;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/tech/25/02/43878167/elon-musks-tesla-recalls-nearly-380000-model-3-y-vehicles-in-us-over-loss-of-power-steering-assist-concerns">Elon Musk&#8217;s Tesla Recalls Nearly 380,000 Model 3, Y Vehicles In US Over Loss Of Power Steering Assist Concerns</a></li>
</ul>
Photo courtesy: SpaceX<a href="https://x.com/elonmusk/status/1893821821838819487/photo/1"></a>

SPACE

Elon Musk's SpaceX To Undertake Starship's 8th Test Flight On Friday

Grok, the artificial intelligence chatbot developed by Elon Musk's xAI, briefly halted responses that suggested he and Donald Trump were spreading misinformation. Now the startup has linked this action to an unauthorized modification by a former OpenAI employee now working at xAI.
What Happened: Users noticed that Grok refused to provide sources linking Musk and Trump to misinformation, following an unapproved change to the system prompt.
Igor Babuschkin, xAI's head of engineering, confirmed the issue, blaming an unnamed former OpenAI employee at xAI for making the adjustment without authorization.
Read Next: <a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The employee that made the change was an ex-OpenAI employee that hasn&#39;t fully absorbed xAI&#39;s culture yet &#x1f62c;
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893774017376485466?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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"An employee pushed the change because they thought it would help, but this is obviously not in line with our values," Babuschkin said in response to questions on X.
He added that Grok's system prompt is publicly visible "because we believe users should be able to see what it is we're asking Grok."
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.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You are over-indexing on an employee pushing a change to the prompt that they thought would help without asking anyone at the company for confirmation. We do not protect our system prompts for a reason, because we believe users should be able to see what it is we&#39;re asking Grok…
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893778039634563094?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe it is good that we&#39;re keeping the system prompts open. We want people to be able to verify what it is we&#39;re asking Grok to do. In this case an employee pushed the change because they thought it would help, but this is obviously not in line with our values. We&#39;ve…
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893778842399154463?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The development was first <a href="https://www.theverge.com/news/618109/grok-blocked-elon-musk-trump-misinformation">reported</a> by The Verge.
Why It Matters: Musk has long touted Grok as a "<a href="https://www.benzinga.com/news/24/05/39004912/elon-musks-ai-startup-xai-nears-24b-valuation-aims-for-6-5b-funding-round-report">maximally truth-seeking</a>" AI, designed to offer uncensored information. However, this isn't the first time xAI engineers have intervened in Grok's responses.
Musk's team previously had to block Grok from stating that Musk and Trump deserved the death penalty.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jesus Christ dude, what did Musk create lol <a href="https://t.co/GDN96nKgX0">pic.twitter.com/GDN96nKgX0</a>
&mdash; Hunter&#x1f4c8;&#x1f308;&#x1f4ca; (@StatisticUrban) <a href="https://twitter.com/StatisticUrban/status/1892986751368515679?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Really terrible and bad failure from Grok. We have patched it like this for now until we finish our investigation of what went wrong here. <a href="https://t.co/QYQDtjLqeV">pic.twitter.com/QYQDtjLqeV</a>
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893035679464169971?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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</figure>
This came after xAI last week released Grok 3, introducing advanced AI features, including image analysis. Grok has also overtaken OpenAI&#8217;s ChatGPT, Google Gemini, and China&#8217;s DeepSeek to become the <a href="https://in.benzinga.com/tech/25/02/43841642/elon-musks-grok-overtakes-openais-chatgpt-google-gemini-and-chinas-deepseek-as-the-leading-productivity-app-on-apples-app-store">leading productivity app</a> on the App Store.
Grok 3 is now accessible to Premium+ subscribers on X, Musk&#8217;s social media platform. xAI also plans to launch a new subscription tier, SuperGrok, for users accessing the chatbot via its mobile app and Grok.com.
Musk&#8217;s AI venture in November 2024 achieved a <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">valuation of $50 billion</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/tech/25/02/43772135/ex-openai-chief-scientist-ilya-sutskevers-ai-startup-valued-at-30-billion-in-latest-funding-round-report" target="_blank" rel="noreferrer noopener">Ex-OpenAI Chief Scientist Ilya Sutskever's AI Startup Valued At $30 Billion In Latest Funding Round: Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Elon Musk's Grok AI Silences Trump, Tesla CEO's Misinformation Claims, Then Backtracks — xAI Blames Former OpenAI Employee

The cryptocurrency market encountered headwinds last week, although a few under-the-radar coins notched up significant gains.&nbsp;
What happened: IP, the native token of Layer-1 blockchain Story, powered above the rest of the market with a whopping 138% jump last week.&nbsp;
Launched just 10 days ago, the token spawned a billion-dollar valuation last week, cruising to a peak value of $7.11.
The blockchain project helps creators register, license, and monetize their intellectual property assets, with IP used for paying transaction fees.
S, the native token of the high-speed blockchain platform Sonic, came a distant second, surging 58% over the week. The coin has been on an upward curve in February, up over 56% over the last month.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based MKR token, serving as the utility and governance token of stablecoin issuing protocol Maker, rallied 53% to become the third-most successful coin last week.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price&nbsp;</td>
</tr>
<tr>
<td>Story (IP)</td>
<td>+138.85%</td>
<td>$3.96</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+58.32%</td>
<td>$0.865</td>
</tr>
<tr>
<td>Maker (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/mkr/usd">MKR</a>)</td>
<td>+53.28%</td>
<td>$1,536</td>
</tr>
</tbody>
</table>
</figure>
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>
Market barometer Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) contracted 0.83%, while ETH eked out a gain of 1.69%.&nbsp;
Other large-cap currencies like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) bled 13.57% and 8.56%, respectively. XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) also slipped 3.71%.
Popular meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) were also hit by the bearish wave, slumping 12.50% and 6.52%, respectively.&nbsp;
The sentiment was majorly hit by the massive $1.4 billion ETH hack on cryptocurrency exchange Bybit, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">allegedly executed</a> by North Korean state-backed actors.
Overall, the total cryptocurrency market capitalization contracted 1.8% over the week to $3.13 trillion.
Read Next:&nbsp;
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<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>
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Photo courtesy: Shutterstock

$ADA

$BTC

$MKR

$SHIB

$SOL

$XRP

Bitcoin, Dogecoin Stumble, But This New Crypto Skyrockets 140% In A Week

Prominent economic commentator Noah Smith sparked debate over food affordability solutions, mocking suggested alternatives to eggs amid soaring prices. 
What Happened: &#8220;Trump&#8217;s economy: Who needs eggs when you can eat chickpeas instead,&#8221; Smith <a href="https://x.com/Noahpinion/status/1893735304235745773">wrote</a> on X on Sunday, responding to Fox News coverage recommending alternative protein sources as egg prices hit record levels.
Smith&#8217;s commentary targeted an article suggesting consumers turn to bananas and chickpeas for breakfast alternatives, as egg prices reached an unprecedented $4.95 per dozen in January. The suggestion comes as retailers nationwide grapple with supply shortages and <a href="https://in.benzinga.com/25/02/43709413/egg-prices-hit-record-highs-new-york-bodegas-get-creative-and-sell-three-packs-for-299">mounting consumer frustration</a>.
The price surge stems from a devastating two-year bird flu outbreak that killed approximately 17.2 million egg-laying hens in November and December alone. The U.S. Department of Agriculture projects another 20.3% price increase throughout 2025, compounding concerns about food inflation.
Brian Albrecht, Chief Economist at the International Center for Law &amp; Economics, attributed the rising egg prices primarily to a supply shock. &#8220;Lots seem to think monopoly power exacerbated the shock. It's taken for granted that's how it works,&#8221; he wrote on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most obvious cause of rising egg prices is a supply shock. Lots of seem to think monopoly power exacerbated the shock. It's taken for granted that's how it works. We need to think through pass through more carefully<a href="https://t.co/XYXgmv3N1X">https://t.co/XYXgmv3N1X</a>
&mdash; Brian Albrecht (@BrianCAlbrecht) <a href="https://twitter.com/BrianCAlbrecht/status/1892937658009080063?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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Scott Lincicome, Vice President for Economics and Trade at Duke Law School, dismissed claims of &#8220;greedflation&#8221; and &#8220;price gouging,&#8221; arguing that consumer demand — not sellers — is driving egg prices.
Citing a Wall Street Journal report, he noted that consumers are paying an average of $5 per dozen, while supermarkets, facing wholesale costs of $7 per dozen, are sometimes selling eggs at a loss. &#8220;It seems kind of odd that, in an industry with so many &#8216;monopolists,&#8217; supermarkets are doing this,&#8221; he remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">tbh it seems kinds odd that, in an industry with so many &quot;monopolists,&quot; supermarkets are doing this
&mdash; Scott Lincicome (@scottlincicome) <a href="https://twitter.com/scottlincicome/status/1892310965477097876?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/25/02/43902384/trumps-tax-plans-gold-nears-3000-and-ray-dalios-solution-to-americas-debt-crisis-this-week-in-economics">Trump&#8217;s Tax Plans, Gold Nears $3000, And Ray Dalio&#8217;s Solution To America&#8217;s Debt Crisis: This Week In Economics</a>
Why It Matters: Amid the crisis, Trader Joe&#8217;s has emerged as a price leader, maintaining dozens at $3.49 through <a href="https://in.benzinga.com/news/25/02/43835457/retail-expert-says-trader-joes-is-the-clear-winner-for-cheap-eggs-as-prices-rise-heres-how-theyre-doing-it">direct supplier relationships</a>. 
Major retailers have implemented purchase restrictions, with Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) limiting customers to two 60-count cartons and Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) capping purchases at two dozen per visit. Some New York bodegas now sell individual eggs as dozens reach $10 in certain areas.
The national average egg price has <a href="https://in.benzinga.com/news/25/02/43835457/retail-expert-says-trader-joes-is-the-clear-winner-for-cheap-eggs-as-prices-rise-heres-how-theyre-doing-it">surged 65% from last year</a>, according to the U.S. Bureau of Labor Statistics, with January&#8217;s 15.2% increase driving nearly two-thirds of monthly grocery cost increases. 
Read Next: 
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<li><a href="https://www.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">Warren Buffett Favors 5% Treasury Bills Over Buybacks As Berkshire Hathaway&#8217;s Cash Pile Balloons To $334 Billion: &#8216;The Rate Of Change… That&#8217;s Most Telling,&#8217; Says Expert</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.

Trump Promised To Bring Food, Egg Prices Under Control Starting Day One, But They Are Still High: Expert Mocks Alternatives Being Suggested

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) may soon integrate Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Gemini into Siri.
What Happened: Apple Intelligence, introduced with iOS 18, currently allows Siri to direct requests to OpenAI's ChatGPT for more contextual responses.
A new backend update in iOS 18.4 beta, discovered by code researcher Aaron Perris on X, now includes references to both "Google" and "OpenAI" under third-party AI model options.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple&#39;s backend has revealed that the next 3rd party iOS-AI integration will be Google Gemini <a href="https://t.co/0rIuJhT5Lj">pic.twitter.com/0rIuJhT5Lj</a>
&mdash; Aaron (@aaronp613) <a href="https://twitter.com/aaronp613/status/1893058313316671627?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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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: Last year in June at the <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">WWDC24</a>, Apple software executive Craig Federighi hinted that Apple may <a href="https://www.benzinga.com/news/24/06/39271592/apple-may-introduce-google-gemini-ai-model-for-iphone-mac-and-ipad-says-craig-federighi">integrate other AI models</a>, including Google Gemini.
While the leak doesn't confirm an immediate rollout, it suggests that Gemini integration could arrive in a later iOS 18 update or possibly iOS 19. Apple is also expected to launch its own AI-driven <a href="https://www.benzinga.com/24/11/42183616/apple-could-delay-key-ios-19-features-plans-shifting-to-staggered-rollouts-with-2026-siri-overhaul-and-more">Siri model with iOS 19</a>.
In January, it was reported that <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43655603/apple-finds-its-ai-wingman-in-alibaba-can-it-power-an-iphone-comeback-in-china">Apple decided to collaborate</a> with Alibaba Group Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to enhance AI features in China. This partnership could help Apple regain its competitive edge in the Chinese market.
Meanwhile, Google in <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">December introduced</a> Gemini 2.0, Veo 2, and Imagen 3 for video and image generation, alongside a quantum computing breakthrough with its Willow chip.
Last month, CEO Sundar Pichai also hinted that Google could soon explore <a href="https://in.benzinga.com/25/02/43488268/googles-gemini-ai-could-soon-include-adssundar-pichai-hints-at-future-monetization-beyond-subscriptions">monetization strategies</a> for its Gemini AI, including the potential introduction of ads.
Check out more of Benzinga&#8217;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://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-l" target="_blank" rel="noreferrer noopener">Sundar Pichai Downplays DeepSeek Threat — Google's Gemini Still Leads In Cost, Performance, And Latency</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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