Latest news for Topsports Intl Hldgs (OTC:TPSRF) Stock

Topsports is the largest sportswear retailer in China, generating the majority of its revenue from selling products of international sportswear brands. The business operates as an intermediary between brand owners and consumers seeking to buy sportswear. The firm operates more than 6,500 stores directly as of the end of fiscal 2023, and most of these "single-brand" stores have been opened under the names of sportswear brands that it partners with, such as Nike and Adidas. In addition to these two sportswear giants, Topsports also has partnerships with sportswear brands such as Puma, Li Ning, Asics, and The North Face. While most of Topsports' sales take place in stores, the firm also operates online shops under the Topsports brand on major e-commerce platforms such as Alibaba and JD.com.

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	Anta said sales of its Fila branded products contracted in the third quarter as increasingly cautious Chinese consumers gravitated towards cheaper products
	Despite the Fila slowdown, analysts still expect the company’s revenue to grow 16% in the second half of the year, supported by sales of its other brands




China&#39;s &#39;Consumption Downgrade&#39; Trips Up Anta

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Key Takeaways:


	Topsports reported its revenue and profit rose 6.9% and 22%, respectively, in its latest fiscal year through February
	Despite the full-year growth, the seller of Nike and Adidas sportswear in China’s profit was below analyst expectations


By Edith Terry

Topsports Disappoints As It Focuses On Quality Over Quantity In &#39;Uneven&#39; Economy

Topsports International Holdings Ltd

In an act of retaliation, Canada has announced plans to impose tariffs on American goods. This move comes in response to President Donald Trump&#8216;s executive order that imposes a 25% tariff on most U.S. imports from Canada.
What Happened: President Trump&#8217;s Saturday executive order levies a 25% tariff on nearly all U.S. imports from Canada, along with a 10% tariff on energy.
Following this, Canadian Prime Minister&nbsp;Justin Trudeau&nbsp;has announced that Canada will impose&nbsp;25% counter-tariffs on C$155 billion&nbsp;($107 billion) worth of American-made&nbsp;products. 
According to a report <a href="https://www.bloomberg.com/news/articles/2025-02-02/-complete-betrayal-canada-reels-as-trump-tariff-hits-major-trade-relationship?sref=TBDibEcD">by</a> Bloomberg, the counter-tariffs will be effective from Tuesday, targeting C$30 billion worth of goods initially, with the remaining tariffs to be imposed later in February.
"From the beaches of Normandy to the mountains of the Korean Peninsula, from the fields of Flanders to the streets of Kandahar, we have fought and died alongside you during your darkest hours," the outlet quoted Trudeau telling Americans on Saturday night.
Also Read: <a href="https://www.benzinga.com/news/global/24/12/42257504/trump-threatens-brics-nations-with-100-tariffs">Trump Threatens BRICS Nations With 100% Tariffs</a>
"Yes, we've had our differences in the past, but we've always found a way to get past them. As I've said before, if President Trump wants to usher in a new golden age for the United States, the better path is to partner with Canada, not to punish us," he added. 
The Canadian tariffs will apply to a variety of American goods including beer, wine, food, and appliances. Trudeau also hinted at possible measures related to critical minerals and urged Canadians to support local businesses and avoid U.S. vacations.
The executive order by Trump, which accuses Canada and Mexico of not taking sufficient action against fentanyl production and trafficking,&nbsp;invoked emergency powers to justify&nbsp;the tariffs, bypassing&nbsp;formal procedures outlined in the&nbsp;US-Mexico-Canada Agreement signed in 2020.
Several Canadian officials, including Ontario leader&nbsp;Doug Ford&nbsp;and British Columbia premier&nbsp;David Eby, have expressed their outrage at Trump&#8217;s tariffs and announced their own retaliatory measures. Eby characterized Trump&#8217;s tariffs as a &#8220;complete betrayal&#8221;&nbsp;of the historic bond between&nbsp;the two nations.
Why It Matters: The imposition of these tariffs has sparked concerns among business groups and the Canadian Chamber of Commerce. 
They predict a drastic increase in costs and a potential market collapse due to the escalating trade tensions between the two countries. 
This trade dispute could have far-reaching implications for the economies of both nations and their bilateral trade relations.
Read Next
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Politics

Canada Retaliates Against Trump's Tariffs With Countermeasures: 25% Tariffs On $107 Billion of US-Made Goods

These twelve large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) shares plummeted 27.92% after the company announced soft guidance for the 2025 fiscal year <a href="https://www.benzinga.com//node/43315362" target="_blank" rel="noreferrer noopener">and analysts lowered the price forecast</a>.</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) shares fell 20.02%. Melius Research analyst Scott Davis downgraded the company from Buy to Hold and <a href="https://www.benzinga.com/quote/vrt/analyst-ratings" target="_blank" rel="noreferrer noopener">announced a $125 price forecast</a>.</li>
<li>Comfort Systems USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIX#NYSE">FIX</a>) stock declined 19.74% following the launch of DeepSeek<a href="https://www.benzinga.com//node/43254923" target="_blank" rel="noreferrer noopener">, China&#8217;s open-source AI model</a>.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares slipped 18.33% after the company reported its <a href="https://www.benzinga.com//node/43356259" target="_blank" rel="noreferrer noopener">third-quarter financial results</a>. Several analysts <a href="https://www.benzinga.com/quote/deck/analyst-ratings" target="_blank" rel="noreferrer noopener">cut the price forecast</a>.</li>
<li>Teva Pharmaceutical Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) shares decreased 18.22% after it reported <a href="https://www.benzinga.com//node/43303023" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>. Analysts <a href="https://www.benzinga.com/quote/teva/analyst-ratings" target="_blank" rel="noreferrer noopener">cut the price forecast</a>.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost 15.81% last week on <a href="https://www.benzinga.com//node/43220297" target="_blank" rel="noreferrer noopener">China&#8217;s DeepSeek sparking doubts</a> over GPU spending frenzy. Also, reports indicating Trump officials have discussed further curbing China sales weighed on the stock.</li>
<li>EMCOR Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EME#NYSE">EME</a>) stock fell 15.72%.</li>
<li>Venture Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VG#NYSE">VG</a>) shares slipped 14.79%.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) lost 14.28% last week due to <a href="https://www.benzinga.com//node/43231443" target="_blank" rel="noreferrer noopener">China&#8217;s DeepSeek sparking </a>investor fears in U.S. semiconductor stocks.</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) shares tumbled 14.13% after it reported mixed fourth-quarter results and analysts <a href="https://www.benzinga.com//node/43389661" target="_blank" rel="noreferrer noopener">trimmed the price forecast</a>.</li>
<li>Quanta Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) shares dipped 14.08%. Citigroup analyst Andrew Kaplowitz maintained a Buy rating and lowered <a href="https://www.benzinga.com/quote/pwr/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast from $394 to $371</a>.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares dropped 13.66% amid concerns about AI competition from China&#8217;s DeepSeek AI model, which <a href="https://www.benzinga.com//node/43254923" target="_blank" rel="noreferrer noopener">has weighed on AI-related sectors</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/25/02/43423005/alibaba-ibm-and-duolingo-are-among-top-0large-cap-gainers-last-week-jan-27-jan-31-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Alibaba, IBM And Duolingo Are Among Top 0Large Cap Gainers Last Week (Jan 27-Jan 31): Are The Others In Your Portfolio?</a></li>
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NVIDIA, Teva Pharmaceutical And UPS Are Among Top Large Cap Losers Last Week (Jan 27-Jan 31): Are The Others In Your Portfolio?

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares escalated 15.85% after the company reported better-than-expected financial results for the fiscal second quarter and <a href="https://www.benzinga.com//node/43391113" target="_blank" rel="noreferrer noopener">analysts changed their price forecast</a>.</li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) stock upped 14.86% after announcing upbeat fourth-quarter results <a href="https://www.benzinga.com//node/43312480" target="_blank" rel="noreferrer noopener">and analysts raised the price forecast.</a></li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) shares increased 13.75% after the company reported an upbeat fourth-quarter results and <a href="https://www.benzinga.com//node/43341886" target="_blank" rel="noreferrer noopener">analysts revised the price forecast</a>.</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) stock grew 12.30% amid a rebound in the broader space.</li>
<li>Check Point Software Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) shares gained 12.10% last week following <a href="https://www.benzinga.com//node/43347093" target="_blank" rel="noreferrer noopener">Q4 earnings</a>. Several analysts raised their <a href="https://www.benzinga.com/quote/CHKP/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts</a> on the stock.</li>
<li>RBC Bearings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) shares jumped 10.99% after the company reported better-than-expected third-quarter results and issued fourth-quarter <a href="https://www.benzinga.com//node/43382549" target="_blank" rel="noreferrer noopener">net sales guidance above estimates</a>.</li>
<li>Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) shares escalated 10.88% as the company&#8217;s latest artificial intelligence <a href="https://www.benzinga.com//node/43351350" target="_blank" rel="noreferrer noopener">model, Qwen 2.5, gained traction</a>.</li>
<li>Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) stock gained 10.77% last week after several analysts raised their <a href="https://www.benzinga.com/quote/DUOL/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts</a>.</li>
<li>Franklin Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) stock upped 10.70% after the company reported better-than-expected Q1 financial results.</li>
<li>Cloudflare, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) stock rose 10.61% amid a rebound in the broader market, which sold off amid concerns about AI competition<a href="https://www.benzinga.com/quote/net/analyst-ratings" target="_blank" rel="noreferrer noopener"> from China</a>.</li>
</ol>
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Alibaba, IBM And Duolingo Are Among Top 0Large Cap Gainers Last Week (Jan 27-Jan 31): Are The Others In Your Portfolio?

Harry Lewis, the former Harvard professor of Bill Gates, recently expressed that Gates&#8217; decision to drop out of Harvard to start Microsoft did not come as a surprise to him.
What Happened: Lewis, who taught Gates applied mathematics at Harvard, remembered the future billionaire as being exceptionally inquisitive and mature for his age. Gates&#8217; thirst for challenges stood out, leading Lewis to believe that Gates&#8217; decision to leave Harvard wasn&#8217;t surprising.
Gates left Harvard after three semesters to launch Microsoft, which was then a startup in the budding software industry. This decision ultimately led Gates to become a billionaire by the age of 31. Today, Microsoft boasts a market value of nearly $3.2 trillion, and Gates&#8217; estimated net worth is $108.7 billion, according to Forbes.
Lewis humorously mentioned his regret at not investing in Gates when he had the chance. If he had invested $100 in Microsoft when the company went public in 1986, his shares would be worth approximately $650,000 today, after considering price appreciation and dividend payouts, according to <a href="https://www.cnbc.com/2025/01/29/bill-gates-harvard-professor-wasnt-surprised-he-dropped-out.html">a </a>CNBC analysis.
Also Read: <a href="https://www.benzinga.com/tech/25/01/43218782/bill-gates-i-would-probably-be-diagnosed-on-the-autism-spectrum-if-growing-up-today">Bill Gates: &#8216;I Would Probably Be Diagnosed on the Autism Spectrum&#8217; if Growing Up Today</a>
"He always wanted a challenge. I wasn't surprised when he dropped out — I just wish I'd invested in him," Lewis told the outlet. 
Despite being surrounded by students with superior math skills at Harvard, Gates stood out due to his curiosity and eagerness to tackle challenges. 
Lewis even suggested that Gates could have been a professional mathematician if he had chosen to pursue that path.
Why It Matters: Gates&#8217; early departure from Harvard to start Microsoft underscores his entrepreneurial spirit and risk-taking attitude. His decision to leave a prestigious institution like Harvard to venture into the uncertain world of software startups was a bold move that paid off immensely. 
Today, Microsoft is one of the most valuable companies in the world, and Gates&#8217; net worth is a testament to his vision and determination. 
Lewis&#8217; anecdote about Gates&#8217; time at Harvard provides a glimpse into the mindset of a young Gates, who was not afraid to challenge the status quo and take risks in pursuit of his ambitions.
Read Next
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Bill Gates' Early Departure From Harvard: Not Surprising, Says Former Professor: 'I Just Wish I'd Invested In Him'

Chinese startup DeepSeek has upended the artificial intelligence industry&#8217;s assumptions about costs and computing power, just as OpenAI announced its latest model can cost up to $3,000 per query.
DeepSeek&#8217;s R1 model, which rivals top U.S. systems in performance, reportedly cost just $5.6 million to develop. The breakthrough sent shocks through global markets Monday, erasing nearly $1 trillion in U.S. and European tech stock value, including a record $589 billion drop in Nvidia&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) market capitalization.
&#8220;It&#8217;s a paradigm shift,&#8221; Ali Ghodsi, CEO of Databricks Inc., said to Bloomberg. &#8220;These models that can reason are so much cheaper to produce that you will see it be democratized. You&#8217;ll see innovations from unexpected corners of the world.&#8221;
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Meanwhile, OpenAI&#8217;s new o3 model, announced just before Christmas, signals a contrary trend—achieving breakthrough performance but at staggering costs. The model requires up to $3,000 to solve a single query that humans complete in seconds, using 172 times more computing power than previous approaches.
&#8220;One very important thing to understand about the future: the economics of AI are about to change completely,&#8221; François Chollet, an AI researcher, said on X when o3 went public.
The model&#8217;s success came from its &#8220;test-time compute&#8221; approach, allowing it to think harder about each question. While this produced superior results, including a 91.5% score on Chollet&#8217;s challenging ARC test, it shattered previous cost assumptions about AI services.
Trending: Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a>
OpenAI, valued at $157 billion, may charge up to $2,000 monthly for full access to o3, according to The Economist, which cited New Street Research analyst Pierre Ferragu. Even the company&#8217;s current &#8220;pro&#8221; version of o1 loses money on its $200 monthly subscription tier due to higher-than-expected usage.
The cost structure challenges the traditional tech industry model of providing services at near-zero marginal cost. It also strengthens the position of suppliers like Nvidia and cloud providers like Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)), which control the essential computing infrastructure. DeepSeek&#8217;s <a href="https://www.benzinga.com/markets/asia/25/01/43243584/deepseek-r1-vs-openai-what-consumers-need-to-know-about-ais-latest-challenger">success suggests an alternative path</a>. Founded by Liang Wenfeng in 2023, the company achieved its results through efficiency innovations and reinforcement learning techniques, despite limited access to advanced U.S. chips.
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&#8220;More investment does not necessarily lead to more innovation,&#8221; Liang told Chinese media outlet 36kr. &#8220;Otherwise, large companies would take over all innovation.&#8221;
The development is catching Silicon Valley&#8217;s attention. OpenAI CEO Sam Altman noted the shift, calling DeepSeek&#8217;s R1 &#8220;an impressive model&#8221; and &#8220;invigorating.&#8221; Meta established an internal team to analyze DeepSeek&#8217;s methods, according to Bloomberg, which cited people familiar with the matter.
Instead of a winner-take-all market, experts predict an oligopoly where multiple firms compete based on specialized applications. Companies like Anthropic, valued at $60 billion, and xAI at $45 billion, suggest investors see room for multiple players despite the high costs.
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'The Economics Of AI Are About To Change Completely': Why OpenAI's o3 Could Reshape The Industry — Costing Up To $3000 Per Query

A recent analysis by The Commonwealth Fund has revealed what many Americans may already suspect: the United States health care system ranks last among wealthy nations. Despite spending more on health care than any other country, the US continues to underperform in critical areas like accessibility, efficiency, equity, and health outcomes.
A Troubling Report Card
In the "Mirror, Mirror 2024: A Portrait of the Failing U.S. Health System" <a href="https://www.commonwealthfund.org/publications/fund-reports/2024/sep/mirror-mirror-2024">report</a>, researchers compared health care systems across 10 high-income countries—Australia, Canada, France, Germany, the Netherlands, New Zealand, Sweden, Switzerland, the United Kingdom, and the United States. The US came in last place overall, ranking 10th in accessibility and health outcomes, and poorly in administrative efficiency and equity.
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According to a September article in AJMC, Joseph Betancourt, MD, president of The Commonwealth Fund, summed it up saying: "The US is failing one of its principal obligations as a nation: to protect the health and welfare of its people… Continually spending the most and getting the least for our health care dollars is not sustainable."
What's Holding the US Back?
One of the <a href="https://www.benzinga.com/personal-finance/25/01/43218719/medicares-at-home-care-and-telehealth-restrictions-in-2025-could-limit-access-to-affordable-healthcare-heres-what-you-need-to-know">biggest issues is access to care</a>. With 26 million uninsured Americans and sky-high out-of-pocket costs, health care remains out of reach for many. In contrast, countries like the Netherlands and Germany offer universal coverage and affordable care, making access far more equitable.
The <a href="https://www.benzinga.com/personal-finance/24/12/42742855/mark-cuban-says-this-is-single-payer-how-his-healthcare-model-could-transform-the-u-s-healthcare-system">shortcomings of the US health care system</a> are further evident in its unparalleled spending. According to the Peter G. Peterson Foundation, in 2022, the United States spent an estimated $12,742 per person on health care—the highest per capita spending among wealthy nations. For comparison, Switzerland, the second-highest spender, allocated $9,044 per person, while the average for other Organization for Economic Development Cooperative and Development countries, excluding the US, was just $6,850.&nbsp;
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Administrative inefficiency is another key weakness. The US ranked ninth in the category due to its complex insurance system, which forces patients and providers to navigate endless denials, appeals, and paperwork.&nbsp;
In terms of equity, the US fared poorly as well, with widespread disparities in care based on race, ethnicity, and income. Issues like racial discrimination and uneven access to resources disproportionately impact vulnerable communities, worsening health outcomes for millions.
Finally, the US performed the worst in health outcomes. The country has the highest rate of preventable deaths, along with a lower-than-average life expectancy, driven by factors like the opioid crisis, gun violence, and chronic diseases.
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What Can Be Done?
The report emphasizes that the US health care system could learn a lot from other nations. Here's what researchers suggest:
<ul>
<li>Reduce financial barriers: Expand insurance coverage and ensure it protects against high out-of-pocket costs.</li>
<li>Simplify the system: Streamline administrative processes to reduce inefficiencies for both patients and providers.</li>
<li>Strengthen primary care: Invest in training and compensation for primary care providers to improve access and outcomes.</li>
<li>Address inequities: Combat racial and socioeconomic disparities by expanding social safety nets and addressing social determinants of health, like housing and food security.</li>
<li>Tackle market consolidation: Regulate health care mergers to reduce costs and improve access.</li>
</ul>
As Betancourt put it, "This report underscores the many lessons we could learn from others on how to strengthen our health care delivery and outcomes."
See Also: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
The Bottom Line
The US health care system's high spending has not translated into better health outcomes or broader access. It's clear that reform is overdue, with opportunities to build a system that is more equitable, efficient, and effective for all Americans. By learning from other nations, the US could finally turn its spending into meaningful improvements for its citizens.
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Personal Finance

US Health Care Ranks Last Among Wealthy Nations — Study Reveals Despite Highest Spending, People Have Lower-Than-Average Life Expectancies

It's been over seven years since Elon Musk first teased the second-generation Tesla Roadster, a futuristic sports car promising jaw-dropping acceleration and a rocket-powered boost.&nbsp;
Yet, here we are in 2025 and the Roadster is still nowhere to be seen on public roads. Meanwhile, <a href="https://www.benzinga.com/tech/25/01/43048198/in-2011-elon-musk-mocked-tesla-rival-byd-fast-forward-to-2024-the-chinese-automaker-is-the-only-real-contender-to-tslas-global-dominance">Chinese automaker BYD</a> has stolen the spotlight with a real, functioning electric hypercar that performs like a beast and comes with an outrageous party trick: it can jump over potholes, police spikes and other obstacles.
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<h2 class="wp-block-heading">Tesla's Elusive Roadster</h2>
Back in 2017, Musk confidently declared that the Tesla Roadster would launch in 2020, setting performance standards no other car could touch. It was supposed to accelerate from 0 to 60 mph in 1.9 seconds, hit a top speed of over 250 mph and finish a quarter-mile in just 8.8 seconds. Musk now says the <a href="https://www.benzinga.com/news/24/07/39924101/new-tesla-roadster-will-be-something-special-says-ceo-elon-musk-production-to-commence-in-2025">Roadster will launch in 2025</a> with even more outrageous features, such as SpaceX-sourced rocket technology and a sub-second time to 60 mph.
But is it realistic? Experts think not. Achieving such acceleration would require forces 2.8 times stronger than gravity, which would likely leave drivers feeling dizzy or worse. Adding rockets may sound cool, but making them practical – or safe – on public roads is another story. And the idea of a "flying car" raises even more questions, from engineering challenges to FAA regulations. In short, the Tesla Roadster feels more like a fantasy than a car you'll see in your driveway anytime soon.
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<h2 class="wp-block-heading">BYD's Yangwang U9 – A Real-Life Marvel</h2>
While Tesla's Roadster remains a promise, BYD has delivered the goods. Their <a href="https://www.benzinga.com/news/24/09/41043074/byd-makes-a-red-yangwang-u9-supercar-for-its-9-millionth-new-energy-vehicle">Yangwang U9</a> is an all-electric hypercar with jaw-dropping capabilities. Priced at $236,000, the U9 features a 1,287-horsepower drivetrain that goes from 0 to 60 mph in 2.36 seconds, rivaling Tesla's Model S Plaid. But it's the car's suspension system that sets it apart.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BYD&#39;s new &quot;jumping suspension&quot; feature on its Yangwang U9 supercar allows it to clear potholes&#8230;and road spikes <a href="https://t.co/4dKQmqJFOM">pic.twitter.com/4dKQmqJFOM</a>
&mdash; Electrek.co (@ElectrekCo) <a href="https://twitter.com/ElectrekCo/status/1876654085195304972?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Using BYD's DiSus-X intelligent suspension, the U9 can leap up to six meters forward to clear potholes, road spikes and other obstacles. In a recent demo, the self-driving car hit 75 mph and jumped over an eight-foot pothole without a human behind the wheel. This system also lets the car "dance" to music and even drive with three wheels, making it a true engineering showpiece.
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<a href="https://www.benzinga.com/news/24/03/37502601/tesla-rival-byd-drops-price-of-its-cheapest-ev-model-in-china-amid-fierce-war-for-market-share">BYD is known for its affordable EVs</a>, but the Yangwang brand represents its move into the luxury space. In addition to the U9, the range features unusual cars like an SUV that can float on water for 30 minutes in an emergency. The company's innovations aren't just for show – they're part of a larger strategy to challenge Tesla's dominance in high-end and affordable EV markets.
While Musk's Tesla continues to grab headlines with bold claims and delayed promises, BYD is quietly reshaping the EV landscape with practical, high-performance vehicles that push boundaries. The U9 may not fly or reach rocket-assisted speeds, but it's a real car you can buy.
The question is: will Tesla's elusive Roadster ever live up to its hype or has BYD already leaped ahead in the EV race?
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Musk's Rocket-Powered Tesla Roadster Is MIA, But A Chinese Automaker Unveils A $236k Self-Driving Car That Can Jump Over Potholes And Spikes

The Trump administration is mounting an aggressive push this weekend to secure Senate support for <a href="https://www.benzinga.com/topic/tulsi-gabbard" target="_blank" rel="noreferrer noopener">Tulsi Gabbard</a>'s nomination as Director of National Intelligence (DNI), according to Axios. With the Senate Intelligence Committee vote looming, officials are scrambling to ensure Gabbard, a former Democratic congresswoman and military veteran, clears the crucial first hurdle in her confirmation process.
Senate Republican Conference Chairman Tom Cotton (R-Ark.) has transformed the conference's official X account into a makeshift Gabbard "war room," underscoring the urgency of the administration's efforts. To advance her nomination to the full Senate, Gabbard needs to secure every Republican vote on the Intelligence Committee, though skepticism among some GOP senators threatens to derail her path. The committee includes nine Republicans and eight Democrats.
<h2 class="wp-block-heading">What's The Problem? Mostly Edward Snowden</h2>
The administration's lobbying efforts are reportedly focused on persuading Sen. Todd Young (R-Ind.), who, along with other senators, pressed Gabbard during her confirmation hearing over her reluctance to label whistleblower Edward Snowden a "traitor."
It seems no one has forgotten that Gabbard <a href="https://www.benzinga.com/news/24/12/42257381/snowden-finds-unexpected-allies-in-trumps-new-team">co-sponsored a resolution</a> in 2020 calling for the U.S. to dismiss all charges against Snowden, who has been living in Russia since 2013 after he leaked of classified documents from the National Security Agency.
<h2 class="wp-block-heading">Will Trump Step In? Most Likely</h2>
President Donald Trump is apparently considering direct outreach to the committee's Republicans to reassure them he has no intention of pardoning Snowden. 
"The president isn&#8217;t really talking about pardoning Snowden, but if that&#8217;s a guarantee they want to get Tulsi confirmed, the president will have those conversations,&#8221; an anonymous senior White House official <a href="https://www.axios.com/2025/02/01/trump-tulsi-gabbard-senate-intelligence">told</a> Axios.
A member of the Hawaii Army National Guard who deployed to Iraq with a medical unit, <a href="https://www.benzinga.com/markets/cannabis/23/02/30743988/breaking-the-chains-of-cannabis-criminalization-tulsi-gabbards-fight-for-legalization-from-grine">Gabbard also supports</a> federal legalization of marijuana. Her outspoken stances over the years, including opposing mainstream intelligence views on Russia, are now raising questions about how she would oversee the nation&#8217;s 18 intelligence agencies with a combined budget of approximately $70 billion.
<h2 class="wp-block-heading">Get On Board Or You&#8217;re Out</h2>
Meanwhile, MAGA-aligned activists are warning of primary challenges against any Republican senator who opposes Gabbard. "We are 100% serious," Turning Point Action spokesperson Andrew Kolvet said in a statement reported by Axios. "GOP senators in red states will open themselves up to well-funded, well-organized primary challenges if they stand in the way of confirming the Cabinet the president wants and the American people voted for."
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Trump Camp Threatens GOP Holdouts: Confirm Tulsi Gabbard For DNI Or Face Reelection Backlash

Esteemed American financier Peter Lynch imparted some key investment wisdom, underscoring the significance of patience, basic arithmetic, and a <a href="https://www.benzinga.com/news/stock-split/25/01/42804677/investment-guru-peter-lynch-if-you-invest-only-in-an-index-youll-never-beat-it-brushing-up-on-stock-picking-skills-is-wise">keen focus on a company&#8217;s fundamentals</a>.
What Happened: In one of his books, One Up on Wall Street, he has highlighted some of the most insightful investment thoughts and guideances. 
Lynch, who achieved an impressive 29.2% annual return during his time at the Fidelity Magellan Fund, underscored the crucial role of patience in investment. He said in the book, &#8220;If&nbsp;you invest $1,000 in a&nbsp;stock, all you can lose&nbsp;is $1,000, but you stand&nbsp;to gain $10,000 or even&nbsp;$50,000 over time if you're&nbsp;patient.&#8221;
Contrary to widespread belief, Lynch argued that basic arithmetic skills are all one needs for successful investing. He stated, &#8220;All&nbsp;the math you need in&nbsp;the stock market you get&nbsp;in the fourth grade.&#8221; He emphasized the importance of understanding a company&#8217;s fundamentals rather than relying on intricate mathematical analysis.
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Lynch also encouraged investors to concentrate on the companies themselves, rather than the stocks. He argued that aspects such as a company&#8217;s product lineup,&nbsp;growth potential, competitive advantages, and&nbsp;financial health are more indicative of its long-term performance than short-term market fluctuations.
Lynch reminded investors that losses are an inevitable part of investing and that there&#8217;s no disgrace&nbsp;in losing money on a&nbsp;stock. He stressed the importance of focusing&nbsp;on company fundamentals and industry&nbsp;outlook over short-term performance.
"There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating," he wrote in the book. &nbsp;
Why It Matters: Lynch&#8217;s insights serve as a timely reminder for investors, particularly those in their 60s, to focus on the long-term potential of their investments. His emphasis on patience, basic math, and company fundamentals over complex analysis and short-term market shifts provides a valuable perspective in today&#8217;s volatile market environment. 
His advice could potentially help investors make more informed decisions, mitigate losses, and maximize returns.
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Peter Lynch's Stock Tips: 'There's No Shame In Losing Money On A Stock, What Is Shameful Is To Hold On To A Stock When Fundamentals Are Deteriorating'

Famed investor&nbsp;Ray Dalio&nbsp;has forecasted China&#8217;s supremacy in the AI industry. Concurrently, Chinese AI startup&nbsp;DeepSeek&nbsp;has caused a significant disturbance in the tech market.
What Happened: Dalio expects&nbsp;China to leverage its manufacturing&nbsp;capabilities in the AI race, similar to its strategy with electric vehicles. He pointed out that leading AI firms like&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are confronted with &#8220;risk issues.&#8221;
Dalio underscored China&#8217;s potential in the AI sector, saying,&nbsp;&#8220;I think the Chinese are&nbsp;a bit behind in the&nbsp;chips, but they&#8217;re ahead in&nbsp;the applications.&#8221; He envisions China&#8217;s plan to involve low-cost chips integrated into manufactured products, such as robotics.
&#8220;You want to invest in productivity, but there&#8217;s great disruption, great disruption, that&#8217;s going to take place, and they&#8217;re going to be the disruptors and the disruptees,&#8221; Dalio told the outlet.
DeepSeek, a Chinese AI startup, recently grabbed headlines with the launch of its R1 model, creating a buzz in Silicon Valley and resulting in a significant decline in tech stocks. Nvidia&#8217;s market cap plummeted by nearly $600 billion in the aftermath of the news, reports <a href="https://www.businessinsider.com/ray-dalio-deepseek-china-chips-nvidia-2025-1">the</a> Insider.
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Investors are now reevaluating the substantial&nbsp;investments in AI infrastructure and&nbsp;capital expenditures by companies, particularly in light of potentially cheaper models like DeepSeek&#8217;s. An Nvidia spokesperson recognized DeepSeek as an &#8220;excellent AI advancement.&#8221;
Dalio also cautioned investors about the inflated share prices of AI and technology companies, drawing comparisons with the dot-com bubble of the late 1990s.
Why It Matters: The rise of China in the AI sector and the disruptive innovation by DeepSeek have significant implications for the tech industry. China&#8217;s strategy of integrating low-cost chips into manufactured goods could potentially reshape the AI landscape. 
Furthermore, the success of DeepSeek&#8217;s R1 model raises questions about the viability of&nbsp;massive investments in AI infrastructure&nbsp;by companies. 
The market response to these developments, as evidenced by the drop in Nvidia&#8217;s market cap, indicates the potential for a shift in the tech market dynamics.
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Image: Shutterstock

Ray Dalio Predicts China's Rise in AI: Chinese 'Are a Bit Behind in the Chips, But They're Ahead in the Applications'

President Donald Trump&#8217;s pledge to launch America&#8217;s largest deportation operation could face hurdles and could cost nearly $1 trillion over a decade, immigration experts and former officials warn.
The American Immigration Council estimates that deporting 11 million unauthorized immigrants would require building 216 new detention facilities yearly for more than a decade, each costing $36 million to build and $48 million annually to operate.
&#8220;It&#8217;s going to be impossible for them to achieve the goal that they set out — which is really getting rid of all the illegal immigrants in the United States,&#8221; David Bier, director of immigration studies at the Cato Institute, said to the Financial Times.
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Early enforcement actions show the scale of the challenge. ICE <a href="https://www.benzinga.com/news/25/01/43219483/trumps-immigration-enforcement-raids-begin-in-chicago-gov-pritzker-concerned-innocent-could-be-targeted">arrested 956 people Sunday</a>, the largest single-day total under the new administration. Yet even at the heightened pace, deportations would fall far short of Trump&#8217;s targets.
Immigration facilities already strain under current operations. ICE can detain 41,500 people at once, while border czar Tom Homan says he needs &#8220;at least 100,000 beds&#8221; to meet the administration&#8217;s goals.
&#8220;It&#8217;s not like you just flip a switch and immediately start rounding people up and sending them to the border,&#8221; John Torres, former ICE acting director during the George W. Bush and Obama administrations, said to the Financial Times.&nbsp;
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Current deportation numbers—271,484 in fiscal 2024—pale against Trump&#8217;s million-plus annual target.
The court system presents another bottleneck. Immigration courts face a 3.6-million-case backlog, up from 656,000 in 2017. Most deportations require court proceedings unless immigrants have existing removal orders.
Private prison companies like GEO Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) and CoreCivic Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) have seen their stock prices surge since the election. CoreCivic CEO Damon Hininger said his company could quadruple its current 10,000-bed capacity within six months, but building and staffing new facilities would strain federal resources.
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Republicans promise $100 billion for border security and enforcement, but experts say it falls far short. Former ICE Chief of Staff Jason Houser said, &#8220;There is no way they have the staff, the money and the resources and the legal authority&#8221; for mass deportations. The plan faces additional resistance from &#8220;sanctuary&#8221; jurisdictions that refuse to cooperate with federal immigration enforcement. While <a href="https://www.benzinga.com/news/25/01/43216758/well-go-as-far-as-im-allowed-trumps-plan-with-immigrants-starts-with-1-million-deportations">Trump threatens to withhold federal funding from those areas</a>, similar attempts during his first term were blocked by courts.
Constitutional hurdles also loom. The administration&#8217;s expanded &#8220;expedited removal&#8221; policy, allowing deportations without court review for those who can&#8217;t prove two years of U.S. residency, already faces legal challenges.&nbsp;
The American Civil Liberties Union calls it a &#8220;cheat code to circumvent due process and the constitution.&#8221;
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'It's Going To Be Impossible': Experts Doubt Feasibility Of Trump's Deportation Plan — Experts Estimate Nearly $1 Trillion Spend In 10 Years

Arab foreign ministers have reportedly rejected U.S. President Donald Trump&#8217;s suggestion to transfer Palestinians from Gaza to neighboring Egypt and Jordan, calling it a destabilizing<a href="https://www.benzinga.com/25/01/43011383/israel-gaza-ceasefire-hostage-exchange" target="_blank" rel="noreferrer noopener"> move that would threaten peace in the region</a>,
In order to reaffirm their commitment to upholding Palestinians&#8217; rights to their land, ministers from Egypt, Jordan, Saudi Arabia, Qatar, the UAE, the Palestinian Authority, and the Arab League issued a joint statement following a meeting in Cairo, Reuters reports.
The statement condemned any attempts to displace Palestinians or alter the status of Gaza, which they consider an integral part of a future independent Palestinian state.
Trump&#8217;s suggestion came after 15 months of Israeli bombardment that left much of Gaza in ruins and millions homeless.
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He had proposed that Egypt and Jordan take in Gazans, a proposal quickly rejected by both countries, as well as by Egypt&#8217;s President Abdel Fattah al-Sisi.
&#8220;Displacement of the Palestinian people from their land is an injustice that we cannot take part in,&#8221; Fattah al-Sisi added, Al Jazeera <a href="https://www.aljazeera.com/news/2025/2/1/arab-ministers-reject-trumps-call-to-displace-palestinians-from-gaza">reports</a>.
Critics argue that the proposal could lead to ethnic cleansing, as it would force Palestinians to leave their homeland.
The Arab foreign ministers also expressed support for Egypt&#8217;s efforts to host an international conference with the United Nations to rebuild Gaza, although no date has been set.
They emphasized the need for a peaceful resolution based on a two-state solution, reaffirming their desire to work with the U.S. administration to achieve lasting peace in the Middle East.
The rejection of Trump&#8217;s idea underscores the deep sensitivities surrounding the fate of Palestinians and the ongoing conflict in Gaza.
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Arab Nations Reject Trump's Controversial Gaza Plan: Here's Why

<h2 class="wp-block-heading">Federal Judge Orders $5.9 Billion Fine In Ponzi Scheme Case </h2>
Chief Judge David Godbey of the Dallas federal court on Wednesday ordered Allen Stanford to pay a $5.9 billion civil fine, ending the Securities and Exchange Commission&#8217;s 16-year<a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35615187/sam-bankman-fried-joins-the-list-of-convicted-billionaires-but-who-leads-the-winnerslosers"> lawsuit against Stanford. </a>
Stanford is serving a 110-year prison sentence after being convicted in 2012 of defrauding investors in a $7.6 billion ponzi scheme, according to a Reuters report. Authorities said Stanford operated an Antigua-based financial institution, Stanford International Bank, and sold fraudulent high-yielding certificates of deposit over a 20 year period. 
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Judge Godbey also ordered Stanford Financial Group's former CFO James Davis to pay $17.66 million and its former chief accounting officer Gilberto Lopez to pay $3.42 million related to their roles in the fraud.&nbsp;
<h2 class="wp-block-heading">SEC Chairman Appoints New Staff Members</h2>
The Securities and Exchange Commission on Thursday <a href="https://www.sec.gov/newsroom/press-releases/2025-34">announced </a>Acting Chairman&nbsp;
Mark T. Uyeda has named Natalia Díez Riggin as Senior Advisor and Acting Director of the Office of Legislative and Intergovernmental Affairs.&nbsp;&nbsp;
"I'm thrilled that Natalia has joined us after her tenure working for Chairman Scott on the Senate Banking Committee," Acting Chairman Uyeda said. "Her expertise will help guide us as we focus our efforts at the SEC on capital formation and ensuring companies aren't impeded by ineffective regulation."
Last Saturday, Acting Chairman Uyeda selected several senior staff members to replace recent departures from the SEC.&nbsp;
The SEC senior staff selected by Acting Chairman Uyeda include:
<ul>
<li>Jeffrey Finnell, Acting General Counsel</li>
<li>Robert Fisher, Acting Director of the Division of Economic and Risk Analysis</li>
<li>Kathleen Hutchinson, Acting Director of the Office of International Affairs</li>
<li>Samuel Waldon, Acting Director of the Division of Enforcement</li>
<li>Ryan Wolfe, Acting Chief Accountant </li>
</ul>
"These talented individuals are committed to protecting the investing public, building trust with American companies and market participants, and promoting capital formation," Acting Chairman Uyeda said.
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Image: Shutterstock

Legal

Financial Crime Weekly: Judge Orders $5.9 Billion Fine In Ponzi Scheme Case, SEC Chairman Appoints New Staff Members

Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), the AI behemoth that has been in the headlines for its artificial intelligence platform, has been the forerunner in providing data analytics tools to government customers for intelligence gathering,<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43420044/benzinga-bulls-and-bears-nvidia-palantir-rigetti-computing-and-shiba-inu-hints-at-major-partnership" target="_blank" rel="noreferrer noopener"> counterterrorism, and military purposes</a>.
The rise of China&#8217;s DeepSeek, with its open-source AI model and lower development costs, raises the question of how it might impact the future growth of Palantir&#8217;s <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43267966/deepseeks-low-cost-model-reshapes-ai-landscape-experts-predict-shift-to-application-layer" rel="noreferrer noopener">stock in an increasingly competitive market</a>.
CEO Alex Karp recently discussed the growing competition in artificial intelligence from DeepSeek, which has raised apprehensions about the U.S.&#8217;s position in the AI race.
In an <a href="https://www.cnbc.com/2025/01/31/palantir-ceo-says-chinas-deepseek-shows-need-for-all-country-effort.html" target="_blank" rel="noreferrer noopener">interview</a> with CNBC, Karp stressed the urgency for the U.S. to accelerate its AI development in light of these emerging threats. He acknowledged that technology, while beneficial, could be misused, especially in the hands of adversaries, and emphasized the need for a coordinated national effort to safeguard American innovation.
Karp remains optimistic that national security will help protect U.S. advancements from manipulation or theft.
Palantir is set to report its <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">fourth-quarter earnings on Monday</a>. The street view for the adjusted earnings per share stands at 11 cents, while the analyst consensus estimate for revenues is $775.907 million.
DeepSeek, an open-source AI model, recently overtook OpenAI&#8217;s ChatGPT as the top free app on Apple&#8217;s U.S. App Store, shaking the tech world.
Read Also: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43250480/nvidia-sinks-below-200-day-average-for-first-time-in-2-years-deepseek-technical-reset" rel="noreferrer noopener">Nvidia Sinks Below 200-Day Moving Average For First Time In 2 Years As DeepSeek Sparks Historic Technical Reset</a>
This success raised questions about the costs of developing AI models, particularly in comparison to the enormous investments made by tech giants like NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Karp expressed doubt about the reported low cost of DDeepSeek&#8217;sdevelopment, stating that he does not fully believe the estimates surrounding the mmodel&#8217;screation.
Palantir, a company valued at nearly $200 billion, has seen substantial growth, largely due to increasing demand for AI solutions.
Karp credited the ccompany&#8217;ssuccess to the focus on improving U.S. technological capabilities, positioning Palantir as a leader in the AI space.
In addition to discussing AI, Karp also addressed political controversies, offering support for Israel following the October 7 attack and defending Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk against allegations related to political gestures. Karp also took a firm stance on illegal immigration, asserting that individuals who enter the U.S. illegally, particularly those engaged in criminal activity, should not be allowed to stay.
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Image: Shutterstock

PLTR

TSLA

Palantir CEO Alex Karp Sounds Alarm on China's Deepseek – Could This Threaten Palantir's AI Dominance?

Elon Musk&#8216;s X has expanded its antitrust lawsuit, incorporating more prominent advertisers into the list of defendants. The lawsuit charges these advertisers with a collective conspiracy to boycott advertising<a href="https://www.benzinga.com/news/24/02/37301290/elon-musk-is-still-attempting-to-defend-hateful-speech-amid-xs-growing-pains-and-public-backlash-rep"> on the platform after Musk&#8217;s takeover</a>.
What Happened:&nbsp;X has now included&nbsp;Nestlé, Abbott Laboratories, Colgate, Lego,&nbsp;Pinterest, Tyson Foods, and Shell&nbsp;in its lawsuit, which was initially filed in August. The lawsuit&nbsp;alleges that members of the&nbsp;now-dissolved&nbsp;Global Alliance for Responsible Media&nbsp;(GARM) unlawfully conspired to withhold billions in advertising revenue from X.
The&nbsp;World Federation of Advertisers (WFA),&nbsp;CVS Health, Mars, Ørsted, and&nbsp;Twitch are also named as&nbsp;defendants in the case. The&nbsp;WFA has previously declared its intention to fight the suit, asserting its compliance with competition law.
As <a href="https://www.businessinsider.com/elon-musk-x-adds-more-advertisers-to-antitrust-lawsuit-2025-2">per </a>Business Insider, the lawsuit&nbsp;claims that at least 18&nbsp;GARM members stopped advertising on Twitter between November and December 2022, following Musk&#8217;s acquisition of the platform. 
Also Read: <a href="https://www.benzinga.com/general/social-media/25/01/42805588/elon-musk-announces-changes-to-x-over-negativity-concerns-too-much-negativity-is-being-pushed">Elon Musk Announces Changes to X Over Negativity Concerns: &#8216;Too Much Negativity Is Being Pushed&#8217;</a>
This boycott allegedly led to X becoming a less competitive entity in the digital advertising space and a decrease in user engagement on its platform.
X is demanding trebled compensatory damages&nbsp;and injunctive relief for what&nbsp;it alleges are breaches&nbsp;of US antitrust laws. The&nbsp;WFA, Diageo, and&nbsp;WPP are also facing a&nbsp;similar lawsuit from video site Rumble.
Why It Matters: The expansion of this lawsuit underscores the ongoing tension between X and major advertisers following Musk&#8217;s takeover. The outcome of this case could have significant implications for the digital advertising industry and competition law. 
If X&#8217;s allegations are proven, it could potentially reshape the dynamics of the digital advertising space and set a precedent for future cases involving alleged anti-competitive behavior.
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Elon Musk's X Bolsters Antitrust Lawsuit With Additional Advertisers

Tom Brady's exclusive Indian Creek Island mansion is making waves in the Miami real estate scene, with bids reportedly topping $150 million, according to Bloomberg. If the sale goes through, it could shatter Miami's single-family home sale record, previously set at $107 million in 2022 when Ken Griffin purchased a Coconut Grove estate.
The football legend's two-acre estate, which he built from the ground up, is located on <a href="https://www.benzinga.com/real-estate/24/10/41119140/how-indian-creek-village-became-a-fortress-for-the-ultra-wealthy-home-to-50-million-mansions-and-247">Indian Creek Island</a>, often referred to as the "Billionaire Bunker." Brady originally bought the vacant lot for $17 million in 2020 alongside his then-wife, supermodel Gisele Bündchen. Since then, he has designed a sprawling waterfront property featuring a two-story home, a private gym, a cabana and a pool, among other high-end amenities, as reported by property records.
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According to sources familiar with the luxury real estate market, Brady's mansion isn't officially listed but is being quietly shopped to select buyers. Bloomberg's sources revealed that offers exceeding $150 million are already on the table, showcasing just how much demand there is for prime real estate on Indian Creek Island.
<h2 class="wp-block-heading">The Bezos Effect</h2>
Indian Creek has always been a haven for the ultra-wealthy, but property values have skyrocketed in recent years, in part <a href="https://www.benzinga.com/real-estate/24/04/38075377/jeff-bezos-buys-90-million-florida-mansion-to-live-in-while-his-other-newly-purchased-147-million-ho">due to Jeff Bezos</a>. The Amazon founder has spent $230 million acquiring three properties on the island since 2023, boosting its already sky-high real estate profile. According to Bloomberg, a nearby vacant lot purchased for $27.5 million in 2018 is now being <a href="https://www.benzinga.com/news/24/12/42715900/jeff-bezos-neighbor-lists-vacant-miami-lot-for-200-million-after-buying-it-for-just-27-5m">marketed for an eye-popping $200 million</a>.
Luxury broker Ilya Reznik told Business Insider in December that new builds on the island command a premium, with buyers willing to pay enormous sums for modern amenities and exclusivity. &#8220;This is just what&#8217;s going on in Miami,&#8221; Reznik told BI. Brady's estate fits this mold perfectly and could reset the bar for high-end Miami real estate.
Trending: 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>
<h2 class="wp-block-heading">A Record-Breaking Sale?</h2>
If Brady's property sells for more than $150 million, it would set a record for single-family homes in Miami. The potential sale highlights Indian Creek's growing reputation as one of the most expensive and exclusive communities in the United States.
The human-made island is home to just 40 residences spread across 300 acres, offering unmatched privacy and security. Its single-access bridge is guarded by a dedicated police force, ensuring the utmost discretion for its billionaire residents who include Carl Icahn, <a href="https://www.benzinga.com/real-estate/24/11/41912517/inside-ivankas-24-million-billionaire-bunker-mansion-with-a-15-million-mortgage">Ivanka Trump, Jared Kushner</a> and, of course, Jeff Bezos.
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Tom Brady's Billionaire Bunker Estate Gets $150 Million Offers – Could Break Miami Single-Family Home Sale Record In Part Thanks To Jeff Bezos

Secretary of State <a href="https://www.benzinga.com/topic/marco-rubio" target="_blank" rel="noreferrer noopener">Marco Rubio</a><a href="https://www.benzinga.com/topic/marco-rubio" target="_blank" rel="noreferrer noopener">&#8216;s</a> upcoming visit to Panama is expected to offer crucial insight into the direction of U.S. foreign policy, particularly in Latin America, <a href="https://www.benzinga.com/startups/25/01/43036986/trumps-2-5-billion-power-play-what-seizing-the-panama-canal-would-cost" target="_blank" rel="noreferrer noopener">under the Trump administration</a>.
Amid rising tensions over the Panama Canal, the visit could signal whether U.S. policy will take a more aggressive, imperial approach or a pragmatic, negotiation-focused stance, Reuters reports.
The controversy began when President Trump made threatening remarks regarding Panama&#8217;s control over the canal, raising fears of a potential American invasion. Former Panama President Ernesto Pérez Balladares voiced concerns about the potential for significant casualties and international condemnation if U.S. aggression escalates.
Despite the heightened rhetoric, Trump&#8217;s envoy to Latin America, Mauricio Claver-Carone, appeared to offer a more practical solution by suggesting that Panama might preemptively offer the U.S. Navy and Coast Guard free transit through the canal as a means to avoid further tension, Reuters adds.
Read Also:<a target="_blank" href="https://www.benzinga.com/25/02/43418661/trump-announces-new-tariffs-on-goods-from-canada-mexico-and-china-will-go-into-effect-from-feb-1" rel="noreferrer noopener"> Trump Announces New Tariffs On Goods From Canada, Mexico And China: Will Go Into Effect From Feb 1</a>
Despite these efforts, there remains significant uncertainty about the future of U.S.-Panama relations.
In private conversations, Panamanian officials have dismissed Trump&#8217;s claims about a Chinese military presence in the canal, emphasizing that transit fees are legally set and apply to all nations.
Panama&#8217;s political elite has made it clear that the canal&#8217;s status is non-negotiable, with President José Raúl Mulino strongly defending Panama&#8217;s sovereignty over the waterway, which was handed over from the U.S. in 1999.
In response to Trump&#8217;s threats, Panama has already taken some conciliatory steps, including increasing audits on the port operations managed by Hong Kong-based CK Hutchison Holdings LTD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CKHUY#OTC">CKHUY</a>), a company involved in the canal&#8217;s operations.
However, these moves have done little to calm the diplomatic storm. While some within the Trump administration suggest that the rhetoric should not be taken literally, others remain firm in asserting U.S. dominance in the region.
As Rubio prepares to visit Panama, there is a glimmer of hope that diplomacy may de-escalate the situation.
The U.S. State Department recently indicated a shift towards fostering a more cooperative relationship with Panama, emphasizing the mutual benefits of a strong partnership rather than attempting to exert unilateral pressure.
Ultimately, Rubio&#8217;s visit will be a critical test of whether the Trump administration can balance aggressive rhetoric with practical diplomacy, ensuring that both U.S. interests and Panamanian sovereignty are respected moving forward.
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CKHUY

Marco Rubio's Panama Visit: Will Trump's Aggressive Rhetoric Lead to War or Diplomacy?

On Jan. 26, <a href="https://www.youtube.com/watch?v=rPso1-N9O9s">Face the Nation </a>host Margaret Brennan grilled Vice President JD Vance on the administration's plans to tackle rising grocery prices. Her question was straightforward: "You campaigned on lowering prices for consumers. Which executive order lowers prices?"
Vance, however, sidestepped specifics, focusing instead on broader goals. "We've done a lot, and there have been a number of executive orders that have already caused jobs to start coming back into our country, which is a core part of lowering prices," he said. But he didn't name a single order targeting grocery costs directly.
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Brennan didn't let up, pushing him on when Americans might see relief, particularly for staples like eggs—an item that became a hot-button issue on the campaign trail. <a href="https://www.benzinga.com/personal-finance/24/10/41250565/trump-and-dave-ramsey-break-down-8-eggs-5-gas-and-7-interest-rates-can-anyone-afford-a-house-in-">Egg prices</a> have been through the roof.&nbsp;
According to the U.S. Bureau of Labor Statistics, they jumped a whopping 36.8% between December 2023 and December 2024. A combination of an ongoing bird flu outbreak and state laws requiring cage-free production has put intense pressure on supplies.
"Prices are going to come down, but it's going to take a little bit of time," Vance assured, adding, "The president has been president for all of five days, and in those five days, he's accomplished more than Joe Biden did in four years."
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Still, many experts say lowering food prices isn't as simple as signing executive orders. Patrick Penfield, a supply chain expert at Syracuse University, told the New York Post that egg prices could climb another 20% this year, possibly reaching $5 a dozen in some areas.
"The avian flu outbreak has been devastating, and complying with cage-free laws adds significant costs," he explained.
Brennan also called out the administration's priorities, noting that most of Trump's recent executive orders haven't focused on the economy. While Vance claimed "many of them were," he didn't back it up with examples.
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Meanwhile, broader inflation trends add to the complexity. Food prices rose by 2.5% overall last year, and the current inflation rate sits at 2.9%, according to the Bureau of Labor Statistics.&nbsp;
While that's within manageable levels, experts like Federal Reserve Chair Jerome Powell warn against aiming for outright deflation, which historically has led to economic crises like the Great Depression.
To make matters trickier, <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">proposed tariffs on imports</a> from major trading partners like Canada and Mexico could push grocery prices higher. The U.S. imports roughly 15% of its food supply, and new tariffs could make everyday items like beef, tomatoes, and avocados even more expensive, according to Eater.
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'Which Executive Order Lowers Prices?': CBS Host Brennan Grills JD Vance On Trump's Economic Promises

The crypto market might be in for a surprise as a well-known crypto analyst predicts a significant rally for a competitor of&nbsp;Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
What Happened: The analyst, known as Inmortal, shared on X platform that the meme coin Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>) is showing a Relative Strength Index (RSI) pattern similar to one that previously resulted in a 200% price surge. 
&#8220;Last&nbsp;time we reached this RSI&nbsp;level we bottomed and pumped&nbsp;200% One of my fav&nbsp;charts right now,&#8221; Inmortal stated.
<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">Last time we reached this RSI level we bottomed and pumped 200% One of my fav charts right now.<a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> <a href="https://t.co/qyRlm2SLJp">pic.twitter.com/qyRlm2SLJp</a>
&mdash; Inmortal (@inmortalcrypto) <a href="https://twitter.com/inmortalcrypto/status/1884709100640231670?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The RSI is a tool used to determine whether an asset is overbought or oversold. At the time of the report, FLOKI was trading at $0.000144, marking a 13.2% increase in the last 24 hours.
Inmortal also pointed out a change in the altcoin cycle, forecasting multiple altseasons with funds moving in and out of digital assets, as opposed to a simultaneous rise of most tokens. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573802/forget-dogecoin-and-shiba-inu-this-meme-coin-has-surged-nearly-70-in-just-24-hours">Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours</a>
He concluded his analysis by emphasizing the current &#8220;brutal&#8221; market conditions, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) needing only a 5% increase&nbsp;to hit a new all-time&nbsp;high, while many altcoins need a 500% surge to match that.
Why It Matters: The predicted rally for FLOKI is significant as it comes amidst a volatile crypto market. The analyst&#8217;s observation of a shift in the altcoin cycle could indicate a new trend in the crypto market, with funds moving in and out of digital assets rather than a simultaneous surge. 
This could potentially lead to more opportunities for investors to profit from different altcoins at different times. 
Furthermore, the current market conditions, described as &#8220;brutal&#8221; by Inmortal, highlight the potential for significant gains for many altcoins, despite the relatively small increase needed for Bitcoin to reach a new all-time high.
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Image: Shutterstock

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

Cryptocurrency

$BTC

$DOGE

$FLOKI

$SHIB

DOGE

Analyst Forecasts Mammoth 200% Surge for This Dogecoin and Shiba Inu Competitor

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), owned by Elon Musk, experienced an 8% surge in its stock following an earnings miss, leaving JPMorgan analysts scratching their heads.
What Happened: JPMorgan analyst Ryan Brinkman was left perplexed by Tesla&#8217;s stock performance. Despite a 38% shortfall&nbsp;in earnings before interest and&nbsp;taxes and the lowest profit&nbsp;margin in years, Tesla&#8217;s shares soared.
According to the report <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-outlook-jpmorgan-tsla-earnings-fundamentals-profit-miss-2025-1">by</a> Market Insider, Brinkman offered several theories for the stock&#8217;s rise, including CEO Elon Musk&#8217;s ambitious projections during the earnings call. However, he remained skeptical, maintaining his $135 price target for Tesla, indicating a potential 68% downside from current levels.
&#8220;The move higher in Tesla shares bore no relation whatsoever to the company&#8217;s financial performance in the quarter just completed or to its outlook for growth in the coming year,&#8221; Brinkman told the outlet.
On Wednesday, Tesla reported its first annual&nbsp;sales decline since 2008, with&nbsp;fourth-quarter revenue of $25.7 billion,&nbsp;missing estimates by $1.4 billion,&nbsp;and earnings per share of&nbsp;$0.73, missing estimates by $0.02.
Read Next: <a href="https://www.benzinga.com/tech/25/01/43219136/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deserved">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>
Brinkman also expressed concern over Tesla&#8217;s&nbsp;guidance for a return to&nbsp;growth in 2025, noting that&nbsp;the company&#8217;s financial performance and&nbsp;analyst price targets seem to be moving in opposite directions.
&#8220;Tesla shares continue to strike&nbsp;us as having become completely&nbsp;divorced from the fundamentals,&#8221; Brinkman concluded.
Why It Matters: The unexpected rally in Tesla&#8217;s stock despite the earnings miss raises questions about the factors driving investor sentiment. While Brinkman&#8217;s analysis points to a disconnect between&nbsp;the company&#8217;s financial performance and&nbsp;its stock price, the market seems to be responding to other factors, possibly including CEO Elon Musk&#8217;s ambitious growth projections.
As Tesla navigates the challenges of missed earnings and a declining sales trend, the market&#8217;s response will continue to be closely watched. 
The divergence between analyst price targets and actual stock performance underscores the complexities of the current investment landscape.
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Image: Shutterstock

Why Is Tesla's Stock Rallying Despite Earnings Miss? JPMorgan Analyst Puzzled

Topsports Intl Hldgs

<h4>Key Takeaways:</h4>

<ul>
	<li>Anta said sales of its Fila branded products contracted in the third quarter as increasingly cautious Chinese consumers gravitated towards cheaper products</li>
	<li>Despite the Fila slowdown, analysts still expect the company&rsquo;s revenue to grow 16% in the second half of the year, supported by sales of its other brands</li>
</ul>

By Doug Young

Why purchase pricey foreign sportswear with names like Nike and Fila when you can get the same products from domestic brands like Anta or Li Ning for less?

That&rsquo;s the question shadowing&nbsp;Anta Sports Products Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANPDY#OTC">ANPDY</a>), whose upscale Fila brand showed signs of slipping in the third quarter, according to the company&rsquo;s&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1010/2024101000298.pdf">latest quarterly update</a>&nbsp;issued last Thursday. More specifically, Anta reported its sales of Fila products, a Korean-owned brand that it sells in China under a licensing agreement, fell by a &ldquo;low single digit&rdquo; amount in the three months to September.

The third-quarter decline for Fila is quite significant, as the brand is one of Anta&rsquo;s most profitable, carrying higher margins than its core Anta brand. The Anta brand accounted for nearly half of the company&rsquo;s sales in the first half of the year, with Fila not far behind at nearly 40%. The rest, about 14%, comes from other upscale brands like Descent and Kolon Sport.

Fila&rsquo;s third-quarter sales decline contrasted with its performance in the first half of the year, when its revenue rose by 6.8%. Even then, Fila was a relative laggard to Anta&rsquo;s other two main brand groupings, with revenue from Anta-branded products up 13.5% and &ldquo;other products&rdquo; up 41.8% for the six-month period.

Investors got a bit spooked by the latest announcement, with Anta shares falling nearly 9% on Monday, the first trading day after the update. Despite that, the stock is still up 20% year-to-date, including a 30% gain in the last month amid a broader rally for Chinese stocks.

Anta is the largest, and an investor favorite, among China&rsquo;s sportswear makers, boasting a relatively high price-to-earnings (P/E) ratio of 18. By comparison, the next largest player,&nbsp;Li Ning&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/LNNGF#OTC">LNNGF</a>) trades at a lower 13, while smaller rival&nbsp;361 Degrees&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TSIOF#OTC">TSIOF</a>) trades at just 8.

All of the retailers are coming under pressure these days as Chinese consumers rein in their spending with the country&rsquo;s slowing economy. Retail sales in China grew just 2.1% in August and 2.7% in July, far slower than rates seen in the past when the economy was booming.

A sub-story of the retail slowdown has been what&rsquo;s locally called a &ldquo;consumer downgrade,&rdquo; referring to the growing consumer preference for cheaper products over more expensive ones within individual categories. That downgrade is affecting everyone in the retail sector, with more upscale brands like Starbucks and Nike losing business to lower-priced rivals like Luckin Coffee and Anta.

Starbucks reported in July that its China same-store sales tumbled 14% in the three months to June, as the average size of an order fell 7%. Similarly,&nbsp;Topsports&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TPSRF#OTC">TPSRF</a>), the main seller of Nike and Adidas shoes and sportswear in China, last month said its profit tumbled 35% in the first half of its fiscal year through August. It said its revenue also fell for the period, blaming dampened consumer sentiment that was affecting the entire retail sector. It added that its margins were also taking a hit from discounting and promotions, as well as inventory buildup as a result of slowing sales.

<h3>Tale Of Two Brands</h3>

With all that background in mind, we&rsquo;ll return to the story of Anta and the diverging paths between its original Anta-branded products and Fila, whose China rights it acquired more than a decade ago. In its latest financial report for the first half of this year, Anta refers to Fila as its &ldquo;high-end athletic fashion brand that targets high-end consumers across a wide range of age groups.&rdquo;

Fila&rsquo;s second-quarter sales decline contrasts with a mid-single digit sales increase for Anta-branded products during the period, according to the update. Here we should also note that even the Anta brand is facing some economic headwinds, since its latest growth represents a slowdown from the 13.5% year-on-year growth it recorded in the first half of the year.

Fila-branded products commanded a gross margin of 70.2% in the first half of the year, well ahead of the 56.6% for the Anta brand, reflecting Fila&rsquo;s premium nature and bigger contribution to the company&rsquo;s profits. That means the contraction of Fila sales in the third quarter is likely to pressure Anta&rsquo;s bottom line in the second half of the year, especially if the brand&rsquo;s sales continue to decline.

The story wasn&rsquo;t all bad for Anta, as its &ldquo;other products&rdquo; category, which also consists of more premium foreign brands, actually rose between 45% and 50% in the third quarter. That figure represents an acceleration from the category&rsquo;s 41.8% growth in the first half of the year, as Anta probably spends aggressively to promote these other premium brands like Descente and Kolon Sport.

Anta also has a positive story to tell in&nbsp;Amer Sports&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>), its foreign subsidiary based in Finland, which owns the Wilson and Arc&rsquo;teryx brands, and was spun off and separately listed in the U.S. early this year. Amer previously reported its revenue rose 14% in the first half of the year to $2.18 billion, powered by a 52% rise in its Greater China sales that accounted for about 10% of the total, as it leverages its Anta connections to grow in that market.

Amer&rsquo;s shares have also performed quite well since their IPO, and now trade about 50% above their listing price of $13.

Despite the contracting Fila sales, Anta is still expected to post revenue growth of about 16% in the second half of the year, boosted by stronger performance for its other brands, according to the average of 44 analysts polled by Yahoo Finance. That testifies to the company&rsquo;s strong management that has made it the leader in China&rsquo;s sportswear market.

The company&rsquo;s stock will probably continue to command a premium to its peers for its size and strong margins. But at the end of the day, even Anta can&rsquo;t stop the forces of a slowing Chinese economy and the growing consumer preference for cheaper domestic brands over pricier foreign ones.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

China's 'Consumption Downgrade' Trips Up Anta

<h4>Key Takeaways:</h4>

<ul>
	<li>Topsports reported its revenue and profit rose 6.9% and 22%, respectively, in its latest fiscal year through February</li>
	<li>Despite the full-year growth, the seller of Nike and Adidas sportswear in China&rsquo;s profit was below analyst expectations</li>
</ul>

By Edith Terry

Last week when&nbsp;Topsports International Holdings Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TPSRF#OTC">TPSRF</a>) unveiled its&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1018/2023101800750.pdf">financial report</a>&nbsp;for its latest fiscal year through February, its shares tumbled 9% over the next two trading days. Investors may have been spooked by slowing revenue growth in the second half of the year, even as profit growth accelerated slightly for the company, which sells Nike and Adidas sportswear in China. On a sequential basis, the second-half revenue was roughly flat compared with the first half, while its profit fell about 30% on that basis.

Investors were also likely put off by a shortfall in the company&rsquo;s profit compared with market expectation. Topsports reported earnings per share of 0.3569 yuan for its fiscal year through Feb. 29, which was below analyst estimates of between 0.37 to 0.47 yuan.

Investors were more upbeat after the company announced its interim results last October, bidding up its shares about 10% at that time before the stock began trailing down again. In all, the company&rsquo;s shares have lost 17% so far this year, and have lost about half their value since its $1 billion IPO in October 2020. Shares of peers like&nbsp;Anta&nbsp;and&nbsp;Li Ning&nbsp;are doing much better, up 18% and 12.2% year-to-date, respectively.

Topsports is a bellwether of sorts not only for China&rsquo;s sportswear market, but also for foreign brands in China, since it derives 85% of its sales from Nike and Adidas products. By comparison, Anta and Li Ning derive most of their sales from their own domestic brands, though Anta also gets significant revenue from its Fila products, which it sells in China under a licensing agreement with the brand&rsquo;s South Korean owner.

Topsport&rsquo;s fiscal full-year numbers looked generally good in terms of growth. Revenue was up 6.9% to 28.9 billion yuan ($3.9 billion), with net profit up 22% to 2.2 billion yuan. Its net profit margin also improved by 0.8 percentage points to 7.6%, and its dividend was slightly higher. Its core retail business revenue rose a robust 8.9% to 24.7 billion yuan.

The good news continued with higher revenue from both of Topsports brand categories. Revenue for the company&rsquo;s principal Nike and Adidas brands was up by 6.5% to 24.8 billion yuan, while &ldquo;other brands&rdquo; rose 10.5% to 3.8 billion yuan.

On a half-year basis, the company&rsquo;s revenue growth slowed to 6.5% in the second half of the year on a year-on-year basis. Its second-half profit rose 17% year-on-year to about 876 million yuan, though the figure was down substantially from the 1.33 billion yuan profit in the first half of its fiscal year.

Nike has been one of Topsports&rsquo; major clients since 1999, and Adidas since 2004, both long pre-dating the company&rsquo;s 2019 spinoff from Belle International, China&rsquo;s largest retailer of women&rsquo;s footwear. Its &ldquo;other brands&rdquo; are also mostly foreign, including Puma, Converse, Vans, North Face, Timberland, Asics and Skechers.

<h3>Subsiding Controversy</h3>

Nike was immersed in controversy in 2021 after it refused to use products from China&rsquo;s Xinjiang region, leading Chinese consumers to boycott the company as well as some other Western brands. The boycotts have since subsided, though an industry trend has seen consumers increasingly flock to domestic brands like Anta and Li Ning after years of showing a strong preference for foreign brands.

A bigger problem for Topsports, beyond U.S.-China trade tensions, is the broader recent struggles for its two key customers globally.

Nike&rsquo;s shares lost 11% when it announced last December that it was cutting its sales forecast for the year and would seek $2 billion in savings over the next three years. Adidas also reported weak earnings for 2023, with a 4.8% decline in revenue to 21 billion euro ($23 billion) and its first annual loss in three decades. Here, we should also note that Adidas bounced back in the first quarter of 2024, and its shares have risen by 22% year to date.

Still, the recent weakness from its two big-name clients may be partly to blame for a 9.2% rise in Topsports&rsquo; inventory levels in the second half of the fiscal year compared with the first half.

Topsports says that it has responded to an &ldquo;uneven&rdquo; macro-economic environment by focusing on quality rather than quantity. It has continued to close more stores than it opened, with a net decrease of 421 stores over its latest fiscal year, to 6,144 stores. At the same time, it increased its overall selling area of the remaining stores by 6% as it focused on larger-format stores.

Government support is expected to drive expansion of China&rsquo;s outdoor sports industry to 3 trillion yuan by 2025, according to Topsports, and it is paying more attention to brands beyond Nike and Adidas. It said it is partnering with high-performance footwear and apparel brand Hoka and Guangzhou-based mountaineering brand Kailas to expand its product range.

Topsports&rsquo; price-to-earnings (P/E) ratio of 15 and HK$33 billion ($4.2 billion) market cap are well below Anta&rsquo;s P/E ratio of 22 and HK$247 billion market cap, though it&rsquo;s almost on par with Li Ning&rsquo;s 16 and HK$56.9 billion market value. Brokerage Jefferies Financial kept its &ldquo;buy&rdquo; rating after the results came out but cut its price target to HK$7.90 from HK$9.30 based on the weaker second half. Citigroup also kept its &ldquo;buy&rdquo; on the stock because of its high dividend payout, which it said was better than its peers.

This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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