Investment Managers Series Trust II AXS Green Alpha ETF (ARCA: NXTE)

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AXS Green Alpha ETF (NXTE) is an actively managed portfolio seeking long-term capital appreciation. It's for the discerning, socially responsible investor looking for sustainability and the potential for above-average alpha. The ETF invests in Next Economy™ companies selected by Green Alpha Investments for their attractive growth prospects and a demonstrated commitment to promoting a sustainable environment and economy.

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Insufficient government funding may force Applied Materials Inc (NASDAQ: AMAT) to reconsider its $4B R&amp;D facility plan in Silicon Valley.

Applied Materials Rethinks $4B Silicon Valley Project Amid Federal Funding Shortfall

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is experiencing a slight increase in its share price in premarket trading on Friday, as the company is reportedly expected <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">to be included in a major Hong Kong stock index.</a>
This inclusion is anticipated to bring passive investment inflows, which could provide a boost to NIO's stock despite its recent performance challenges, <a target="_blank" href="https://cnevpost.com/2025/01/17/nio-expected-hk-hang-seng-index/" rel="noreferrer noopener">reports </a>CnEV Post.
The Hang Seng Indexes Company Limited will announce the results of its semi-annual review of the Hang Seng family of indexes after market hours on February 21, per the report, which cited&nbsp;Chinese brokerage CICC. The changes will take effect on Monday, March 10.
Read Next: <a target="_blank" href="https://www.benzinga.com/25/01/43027048/blackrock-generates-industry-leading-etf-inflows-of-390-billion-in-2024-here-are-five-ishares-etfs-that-investors-should-look-out-for" rel="noreferrer noopener">BlackRock Generates Industry-Leading ETF Inflows Of $390 Billion In 2024: Here Are Five iShares ETFs That Investors Should Look Out For</a>
The adjustment will include indices such as the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng Tech Index and Hang Seng Composite Index, the report said, citing analyst Liu Gang&#8217;s team.
Recently, NIO&nbsp;launched its new affordable EV brand Onvo in May. The brand started selling its first vehicle – the Onvo L60 – in late September and since then, Nio&nbsp;<a target="_blank" href="https://www.benzinga.com//node/42909739" rel="noreferrer noopener">sales have been on the rise.</a>
The Onvo L60 is a mid-size electric SUV that starts at 206,900 yuan (~$28,300) with the battery pack included, much lower than Tesla's affordable models Model 3 or Model Y in China.
In September, NIO&nbsp;delivered 832 Onvo L60s despite having only a few selling days.
In October, the first full month of sales, Onvo deliveries rose to 4,319. In November, deliveries rose to 5,082, implying rising demand for the vehicle.
Price Action: NIO shares are trading higher by 1.2% to $4.21 premarket at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43035577/nio-ceo-welcomes-tiktok-users-to-rednote-amid-us-ban-concerns" target="_blank" rel="noreferrer noopener">NIO CEO Welcomes TikTok Users To RedNote Amid US Ban Concerns</a></li>
</ul>
Photo by Sundry Photography on Shutterstock.

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What's Going On With Chinese EV Maker NIO Stock Today?

The Q4 earnings report for Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) was released on Friday, January 17, 2025 at 07:30 AM.
Here's what investors need to know about the latest announcement.
<h3>Earnings</h3>
Webster Finl beat estimated earnings by 6.0%, reporting an EPS of $1.43 versus an estimate of $1.35.
Revenue was up $37.45 million from the same period last year.
<h3>Overview of Past Earnings</h3>
In the previous quarter, the company missed on EPS by $0.01, resulting in a 2.0% drop change in the share price the following day.
Here's a look at Webster Finl's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.35</td>
<td>1.34</td>
<td>1.41</td>
<td>1.46</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.34</td>
<td>1.26</td>
<td>1.35</td>
<td>1.46</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>595.17M</td>
<td>589.41M</td>
<td>616.79M</td>
<td>603.11M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>589.88M</td>
<td>572.30M</td>
<td>567.74M</td>
<td>571.02M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Webster Finl <a href="https://www.benzinga.com/quote/WBS/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Webster Finl Q4 Earnings Assessment

The U.S. Food and Drug Administration (FDA) has granted marketing authorization for 20 nicotine pouch products from ZYN, a <a href="https://www.benzinga.com/pressreleases/25/01/b43037438/fda-authorizes-all-zyn-nicotine-pouch-products-currently-marketed-by-swedish-match-in-the-u-s">brand of nicotine products</a> from Philip Morris International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>). 
The ZYN nicotine pouches, small sachets containing nicotine meant to be placed between the gum and lip, are the first products of their kind to gain FDA approval.
This decision follows an extensive review, confirming that the ZYN nicotine pouches comply with the public health criteria set by the 2009 <a href="https://www.fda.gov/news-events/press-announcements/fda-authorizes-marketing-20-zyn-nicotine-pouch-products-after-extensive-scientific-review#:~:text=Today%2C%20the%20U.S.%20Food%20and,following%20an%20extensive%20scientific%20review.">Family Smoking Prevention and Tobacco Control Act</a>.
These standards assess the risks and benefits of tobacco products, especially concerning the overall population&#8217;s health.
The FDA&#8217;s assessment showed that these products present lower health risks than cigarettes and other smokeless tobacco items such as snus and moist snuff, due to their reduced levels of harmful chemicals. 
FDA specialists noted that these products could be beneficial for adults who fully transition from cigarettes and smokeless tobacco. 
The FDA also observed that, despite the rise in sales of these products in recent years, the likelihood of youth usage remains minimal.
Also Read: <a href="https://www.benzinga.com/news/25/01/43023778/gm-vianode-strike-multi-billion-anode-graphite-supply-deal-details">GM, Vianode Strike Multi-Billion Anode Graphite Supply Deal: Details</a>
The 2024 National Youth Tobacco Survey revealed that just 1.8% of U.S. middle and high school students reported using nicotine pouches.
"It's critical that the manufacturer market these products responsibly to prevent youth use," said director of the FDA's Center for Tobacco Products, Brian King.
Strict rules have been established to guarantee that ZYN nicotine pouch ads are directed solely at adults aged 21 and over.
The FDA also specified further precautions, including restricting mass media advertising and mandating that actors in commercials be at least 35 years old or made to appear that age. 
Additionally, the FDA emphasized that although these products are approved for sale, they are not deemed safe and the agency will keep monitoring their effect on public health.
The approved nicotine pouch products include flavors such as ZYN Chill, ZYN Cinnamon, ZYN Cool Mint and others, each available in 3 mg and 6 mg strengths.
The FDA&#8217;s approval applies solely to these products and does not cover other nicotine pouches or similar items made by ZYN.
The company is not allowed to assert reduced risk claims for these products unless it files a separate application for a modified risk tobacco product.
Price Action: PM shares closed higher by 1.08% at $119.80 on Thursday.
Photo: Shutterstock

ZYN Nicotine Pouches Receive FDA Marketing Approval

President Joe Biden has granted clemency to nearly 2,500 non-violent drug offenders as his last hours in the White House wind down. 
"Today, I am commuting the sentences of nearly 2,500 people convicted of non-violent drug offenses who are serving disproportionately long sentences compared to the sentences they would receive today under current law, policy, and practice," Biden said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2025/01/17/statement-from-president-joe-biden-on-additional-clemency-actions/">statement</a> Friday. "Today's clemency action provides relief for individuals who received lengthy sentences based on discredited distinctions between crack and powder cocaine, as well as outdated sentencing enhancements for drug crimes." 
No word yet as to whether <a href="https://www.benzinga.com/news/legal/24/11/42177984/joe-biden-how-about-pardoning-non-violent-cannabis-prisoners-along-with-those-thanksgiving-turkeys">non-violent cannabis prisoners</a> will be involved in this group of people receiving commutations.
Read Also:<a href="https://www.benzinga.com/government/regulations/25/01/43040086/nra-warns-of-legal-confusion-over-guns-and-cannabis"> NRA Warns Of Legal Confusion Over Guns And Cannabis: Could Fed Ban Expand?</a>
The clemency is expected to benefit federal prisoners who are serving or were convicted of crack cocaine-related crimes, <a href="https://www.npr.org/2025/01/17/g-s1-41788/biden-pardons-commutations-drug-sentences">noted</a> NPR. The White House said these individuals had received sentences that were longer than they would be under today's drug policies and laws.
Biden told USA Today in a Jan. 8 interview that he would likely address sentencing disparities for offenses involving crack cocaine. &#8220;This action is an important step toward righting historic wrongs, correcting sentencing disparities, and providing deserving individuals the opportunity to return to their families and communities after spending far too much time behind bars,&#8221; he told Susan Page.
The Biden administration often criticized President Ronald Reagan's Anti-Drug Abuse Act that led to the arrest and imprisonment of thousands, a vast majority Black people. Due to automatic sentencing requirements, some people spent decades behind bars for possessing crack or cocaine.
Biden <a href="https://www.benzinga.com/24/12/42258387/biden-grants-full-and-unconditional-pardon-to-hunter-i-hope-americans-will-understand">granted a full and unconditional pardon</a> to his son Hunter Biden in early December 2024, drawing criticism from Democrats and Republicans and many in <a href="https://www.benzinga.com/24/12/42346107/critics-urge-biden-to-free-non-violent-pot-offenders-after-pardoning-son">the cannabis community</a>.
Just two weeks after his son's pardon, Biden <a href="https://www.benzinga.com/news/legal/24/12/42466804/biden-commutes-1500-sentences-grants-39-pardons-pot-prisoners-included-marks-single-day-record">commuted the sentences</a> of nearly 1,500 individuals and pardoned 39 others convicted of nonviolent offenses.
Biden has said he would consider additional pardons, <a href="https://www.nytimes.com/2025/01/17/us/politics/biden-commute-sentences-drug-offenders.html">according</a> to the NY Times, which could include preemptive pardons for former elected officials who President-elect Donald &nbsp;Trump has indicated he may target. &nbsp;
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</ul>
Photo: Shutterstock

Cannabis

Government

Politics

Biden Commutes Sentences Of Nearly 2,500 Convicted of Non-Violent Drug Offenses, No Mention Of Cannabis Prisoners

Inspira Technologies Oxy BHN Ltd Ordinary Shares

IINN

Inspira Technologies Announced That the Company Is Establishing A Dedicated Production Line For A Crucial Component Of Its Innovative Respiratory Support System In Collaboration With Zriha Medical Ltd

OKLO

Oklo Signs MoU With Rpower To Deploy A Phased Power Model For Data Centers

ServiceNow To Acquire AI Native Conversation Data Analysis Platform Cuein, Terms Not Disclosed

Partnership will drive deployment of edge-enabled technologies in smart commercial buildings while reducing the need for extensive cloud infrastructure
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.veea.com%2F&amp;esheet=54181673&amp;newsitemid=20250117751306&amp;lan=en-US&amp;anchor=Veea+Inc.&amp;index=1&amp;md5=85fc3b7864e30015d4ce61f07ddef34d">Veea Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEA#NASDAQ">VEEA</a>), a pioneer in edge computing and AI-driven solutions, and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lynxspring.com&amp;esheet=54181673&amp;newsitemid=20250117751306&amp;lan=en-US&amp;anchor=Lynxspring%2C+Inc.&amp;index=3&amp;md5=0fdee76b2a830501c4c5fe1394fb25bc">Lynxspring, Inc.</a>, a premier manufacturer, developer, and provider of open software and hardware platforms for smarter buildings, smart equipment and device-to-enterprise integration and automation, announced they have partnered to jointly rollout technologies and solutions that simplify data management, improve operational efficiency, and enable real-time decision-making for building owners and operators.
The combined offering leverages Veea's edge computing capabilities alongside Lynxspring's advanced edge-to-cloud building management and data management solutions to create a comprehensive ecosystem for managing smart environments, including buildings, campuses, agriculture, and cities. This integration of edge-to-enterprise technologies normalizes both wired and wireless endpoints, expanding the available dataset to provide greater actionable insights across all market use cases.

VEEA

Veea and Lynxspring Announce Collaborative Strategic Partnership To Accelerate Edge-To-Cloud And Containerization Opportunities

Barclays analyst Tom O'Malley maintains Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Overweight and lowers the price target from $90 to $80.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Western Digital, Lowers Price Target to $80

Macro Economic Events

Econ #s

Economics

USA Housing Starts For December 1.499M Vs 1.330M Est.; 1.289M Prior (Revised To 1.294M)

<a href="https://www.benzinga.com/news/24/12/42499868/zillows-top-trends-for-homes-in-2025">Zillow </a>has made its much-anticipated prediction for the hottest housing market of 2025. It's <a href="https://www.benzinga.com/real-estate/24/01/36580130/winter-chills-to-housing-thrills-buffalos-surprising-surge-as-the-hottest-real-estate-market-of-2024">Buffalo</a>, New York. That might raise a few eyebrows – as the snowy New York City on the Canadian border experienced years of unemployment and urban dereliction barely a decade ago. However, this marks the second year in a row that Buffalo has taken Zillow's top honor. So what gives?&nbsp;
<h2 class="wp-block-heading">Affordability And Jobs</h2>
Affordability is the root of Buffalo's ascendancy, backed by a deluge of new jobs, which means the once unglamorous industrial city is attracting hordes of new residents. As Zillow explains:&nbsp;
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<li>Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
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"Buffalo has the most new jobs per new home permitted." New jobs and owner-occupied homes have allowed Buffalo to finally shake off its image as a desolate urban wasteland lacking in jobs and culture. According to the NAIOP Commercial Real Estate Development Association, from 2018-2023, an estimated $22.6 billion of development was launched within the eight counties in the Buffalo Niagara region. New investment in medical, manufacturing and a clean energy cluster expansion caused increased numbers of residential real estate, hotels, industrial plants and food processing facilities.
<h2 class="wp-block-heading">Incentives And Revitalization</h2>
Buffalo's renaissance began in 2012 when – according to The New York Times–New York's then-governor andrew M. Cuomo, pledged $1 billion in grants and tax credits as part of a revitalization effort. The residential boom has developed new apartments in empty warehouses, former municipal buildings and longtime parking lots.&nbsp;
See Also: This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<h2 class="wp-block-heading">Tesla's Bold Ambition</h2>
Not every investment turned out the way New York would have hoped. According to the Wall Street Journal, the state spent nearly $1 billion on <a href="https://www.benzinga.com/markets/equities/25/01/42938578/jamie-dimon-calls-elon-musk-an-extraordinary-talent-jp-morgan-ceo-shares-why-trumps-election-victory-didnt-surprise-him">Elon Musk'</a>s ambitious plan to house the largest solar-panel factory in the Western Hemisphere – a quarter-mile-long facility with 1.2 million square feet of industrial space turning out enough solar-panel shingles to cover 1,000 roofs each week. It never happened. By 2023, they were averaging 21 installations per week. The state now owns the industrial space and leases it to Tesla. However, the $240 million worth of solar panel manufacturing equipment the state bought was sold at a discount or scrapped. A state comptroller's audit found just 54 cents of economic benefit for every subsidy dollar spent on the factory.
"It was a bad deal," state Sen. Sean Ryan, a Buffalo Democrat, said. "A cautionary tale is you can't give governors too much power to get on the phone with egotistical billionaires."
Despite this, Tesla has been a big investor in Buffalo overall. Jason Connell, a spokesman for the state agency overseeing the project, said, "Tesla has made substantial contributions to the local economy, aligning with the region's overall economic revitalization."
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">Other Buoyant Markets Echo Buffalo's Trajectory</h2>
Other markets on Zillow's list echo Buffalo, where jobs have bolstered affordable housing. Indianapolis, Providence, Hartford and Philadelphia round out the top five. However, only Indianapolis is expected to show equity gains in 2025, as high interest rates limit buyer activity. The other markets in the top 10, St. Louis, Charlotte, Kansas City, Richmond, VA and Salt Lake City, have certain similar traits; they are small cities with their roots in industrial, blue-collar work that have embraced future-proof industries in tech, medicine and education and are generally more affordable than some larger American cities, bringing a younger demographic to town.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Zillow Names Buffalo As The Hottest Real Estate Market Of 2025. Here's Why The Snowy New York City Is Making Headlines

USA Building Permits For December 1.483M Vs 1.460M Est. 1.493M Prior

Needham analyst Ryan MacDonald reiterates Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) with a Buy and maintains $270 price target.

Reiteration

VEEV

Needham Reiterates Buy on Veeva Systems, Maintains $270 Price Target

Barclays analyst Tom O'Malley maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Underweight and lowers the price target from $80 to $70.

SWKS

Barclays Maintains Underweight on Skyworks Solutions, Lowers Price Target to $70

Barclays analyst Blayne Curtis maintains Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) with a Equal-Weight and raises the price target from $75 to $120.

SLAB

Barclays Maintains Equal-Weight on Silicon Laboratories, Raises Price Target to $120

IMAX

NFLX

IMAX Has Entered Into An Agreement With Netflix, Inc. To Debut Oscar-Nominated Director Greta Gerwig's Forthcoming Film "Narnia" Exclusively Across The IMAX Global Theater Network With A Two-Week Run Beginning Thanksgiving 2026.

Duolingo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) just delivered another masterclass in keeping learners hooked, and Wall Street is taking notes. Shares <a href="https://www.benzinga.com/quote/DUOL/news">surged as much as 7%</a> on Thursday, and JPMorgan's Bryan M. Smilek sees plenty of upside, reiterating an Overweight rating and a $400 price target.
<h2 class="wp-block-heading">Enter Lily: Video Calls &amp; AI = A Winning Formula</h2>
So, what's driving the rally? Enter Lily, Duolingo's AI sidekick, which can now initiate video calls—not just on iOS but also on Android and five new languages. With Japanese and Korean set to join the mix, Duolingo is tapping deeper into a Google Play-powered revenue stream that accounted for 19% of bookings last quarter. The broader video call rollout, complete with transcripts and expressive animations, isn't just a novelty—it's a calculated move to boost engagement and monetization.
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Duolingo Max, the company's GenAI-driven premium tier, is also gaining traction. Smilek estimates Max subscriptions will jump from 450,00 in 2024 to 1.37 million in 2025, generating $153 million this year—nearly one-fifth of subscription revenue. A well-timed New Year's campaign offering 20% off Max has further sweetened the deal for language learners looking to level up.
<h2 class="wp-block-heading">US-Based Chinese Learners Surge &#8211; But Why?</h2>
Adding another twist to the story is an unexpected surge in U.S.-based Chinese learners, up 216% year-over-year. Speculation swirls around RedNote, a Chinese learning app some see as a TikTok alternative amid potential U.S. bans. 
However, Smilek isn't buying RedNote as a game-changer for Duolingo. Instead, he points to seasonal trends—New Year's resolutions and the upcoming Chinese New Year on Jan. 29 &#8211; along with Duolingo's own marketing firepower, which has seen impressions rise 80% over the past year.
<h2 class="wp-block-heading">A Strong Growth Trajectory</h2>
With daily active users projected to grow 37% in 2025, Duolingo is proving that when it comes to language learning, engagement is the real currency.
And with AI-driven tutoring gaining steam, Duolingo's $400 price target might just be another milestone in its upward trajectory.
Price Check: Shares of DUOL finished 6.8% higher at $341.80 on Thursday.
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Photo: Shutterstock

Analyst Color

Asia

Long Ideas

Education

Trading Ideas

DUOL

Duolingo's AI-Powered China Surge Impresses Bullish Analyst

WIIM

BMBL

Bumble shares are trading higher after the company announced that Founder and Executive Chair Whitney Wolfe Herd will assume the role of Chief Executive Officer, effective mid-March 2025.

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has announced a reduction in its workforce within the Fashion and Fitness division. Internal communications revealed that employees in San Diego, part of the F2 group, were among those laid off.
What Happened: An&nbsp;Amazon&nbsp;spokesperson <a href="https://www.businessinsider.com/amazon-cuts-jobs-fashion-fitness-group-internal-messages-2025-1">confirmed</a> to Business Insider, on Friday, that about 200 positions across the nation are impacted by these layoffs. The spokesperson explained, &#8220;We&#8217;re&nbsp;always looking at our team&nbsp;structures to ensure we&#8217;re&nbsp;best set up to move&nbsp;fast as we innovate for&nbsp;customers.&#8221; 
The company aims to realign its workforce with its strategic priorities.
Despite the job cuts, these layoffs are reportedly not associated with&nbsp;Amazon&#8217;s&nbsp;decision to end the Try Before You Buy service,&nbsp;previously known as Prime Wardrobe.&nbsp;This service allowed customers to try on clothing before making a purchase. The e-commerce giant has encountered difficulties in the apparel sector, as many consumers prefer trying on items before buying, which has led to expensive returns.
Why It Matters: The recent layoffs in&nbsp;Amazon&#8217;s&nbsp;Fashion and Fitness division come amid a broader context of operational adjustments within the company. Earlier this month,&nbsp;Amazon&nbsp;began enforcing its <a href="https://www.benzinga.com/news/large-cap/25/01/42903361/amazon-workers-return-to-office-with-some-exceptions-reported">global return-to-office policy</a>, which mandates a five-day in-office workweek. However, some locations have faced challenges in implementing this policy due to space constraints, resulting in exceptions where employees continue to work three days a week in the office. This policy shift, announced last September, reflects&nbsp;Amazon&#8217;s&nbsp;efforts to adapt its workplace strategies to current conditions.
Disclaimer: 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.
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Due to insufficient government funding,&nbsp;Applied Materials Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) may reconsider or abandon its plan to establish a $4 billion research and development facility in Silicon Valley.&nbsp;



As of March 29, the Biden administration has decided against financing the construction or refurbishment of semiconductor R&amp;D facilities.&nbsp;



This shift comes amid a global semiconductor shortage that has disrupted supply chains across various industries.&nbsp;



Despite President Joe Biden signing a bill in late 2022 allocating $52.7 billion for domestic semiconductor research and manufacturing, a recent appropriations bill redirected a portion of these funds, impacting Bay Area companies not directly manufacturing semiconductors, the San Francisco Chronicle&nbsp;<a target="_blank" href="https://www.sfchronicle.com/politics/article/applied-materials-semiconductors-19391559.php" rel="noreferrer noopener">reports</a>.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37521115/nvidia-tops-in-popularity-among-s-p-500-semiconductor-stocks-analyst-sees-room-for-growth" rel="noreferrer noopener">Nvidia Tops in Popularity Among S&amp;P 500 Semiconductor Stocks, Analyst Sees Room for Growth</a>



California&#8217;s semiconductor industry, a global innovation leader, faces challenges due to this reallocation. This reallocation affects companies like Applied Materials,&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and&nbsp;Lam Research Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), which benefit from state tax credits for R&amp;D.&nbsp;



Applied Materials had announced in May 2023 plans for a new facility aimed at accelerating semiconductor technology development and innovation, expecting to create thousands of jobs.&nbsp;



However, the lack of federal support jeopardizes this investment, prompting the company to consider relocating the project out of California.



The Commerce Department still intends to allocate $11 billion towards semiconductor manufacturing, but companies like Applied Materials, focusing on R&amp;D without manufacturing, will not qualify for this funding.&nbsp;



The situation is complicated further by ongoing negotiations for fiscal year 2025 appropriations and efforts by California representatives to secure federal investment for semiconductor R&amp;D within the state.&nbsp;



Additionally, Applied Materials is under investigation for allegedly exporting equipment to China&#8217;s SMIC without proper licenses.



In February, Applied Materials&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37185004/why-applied-materials-shares-are-rocketing-today" rel="noreferrer noopener">reported first-quarter</a>&nbsp;fiscal 2024 sales of $6.71 billion, beating the analyst consensus estimate of $6.48 billion. The company reported EPS of $2.13, beating the analyst consensus estimate of $1.91.



Applied Materials stock gained over 79% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and&nbsp;Investment Managers Series Trust II AXS Green Alpha ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXTE#NYSE">NXTE</a>).



Price Action: AMAT shares are up 0.10% at $209.25 premarket on the last check Tuesday.



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



Image: Courtesy of Applied Materials

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