Passport to Wall Street

Market Update: Stocks Post Third Day of Losses as Middle East Tensions Weigh on Sentiment

Rachel Hemple — Fri, 20 Mar 2026 13:12:21 -0400

Stocks fell for a third consecutive session on Friday as investors remained cautious as the United States-Israeli war on Iran continues for another week.

Wall Street remained under pressure on Friday on reports of more attacks from both sides of the U.S.-Israeli and Iran conflict, keeping oil futures tied to any new headlines out of the Middle East. Brent crude futures traded near $105 a barrel on Friday, while West Texas Intermediate remained around $97 per barrel.

In response to dimming market sentiment, Morgan Stanley Chief U.S. Economist Michael Gapen called investor fears that the Federal Reserve will raise interest rates this year instead of issue another cut "overdone."

"In light of higher oil prices, we revise our outlook for 2026 in favor of less growth, more inflation, higher unemployment, and later Fed cuts. Our outlook for two Fed rate cuts stands in stark contrast to current market pricing, which has hints of rate hikes," Gapen wrote on Friday, adding that the firm pushed its rate cut timeline to September and December versus its prior June and September forecast.

On the earnings front, FedEx (FDX ) delivered a strong first third quarter late Thursday and raised its full-year guidance, now calling for revenue growth of 6% to 6.5%. The company also raised its fiscal 2026 adjusted earnings per share outlook to a range of $19.30 to $20.10 from its previous $17.80 and $19 guidance range.

"Team FedEx delivered another quarter of strong financial results and excellent service for our customers, powered by disciplined operational execution, the resilience of our global network, and the accelerating impact of our advanced digital solutions," CEO Raj Subramaniam said in a statement.

Bank of America analyst Ken Hoezter raised FedEx's price target to $440 following the results, implying a more than 23% gain from the stock's closing price on Thursday. The analysts also maintained the stock's Buy rating, highlighting the company's strong market share gains, increased network integration, yield growth and its upcoming freight spin-off.

"FedEx is showing solid momentum in winning share and managing its costs and network transformation in what remains a volatile global trade backdrop," Hoezter wrote in a note to clients on Thursday.

Looking ahead, market participants are in for another busy week of economic releases next week, with key reports on manufacturing and services sectors, consumer sentiment, and a series of speeches from Federal Reserve officials.

The earnings season is winding down, but reports from GameStop (GME ), KB Home (KB ), PDD Holdings (PDD ), Chewy (CHWY ), and Carnival Corp (CCL ) are expected to capture investor attention.

Tesla's Robotaxi Ambition Faces A New Threat: A 50,000-Vehicle Alliance

Benzinga News — Fri, 20 Mar 2026 11:04:56 -0400

Tesla, Inc. (TSLA ) has spent years selling the robotaxi ambition. Now, that ambition is facing something more tangible-a 50,000-vehicle deployment plan backed by Rivian Automotive, Inc. (RIVN ) and Uber Technologies, Inc. (UBER ). This isn't another prototype or pilot. It's scale.

Rivian and Uber say they plan to roll out up to 50,000 R2 robotaxis across 25 cities spanning the U.S., Canada, and Europe by 2031.

That immediately shifts the conversation from "who has the best tech" to "who gets there first at scale."

From Vision to Deployment

Tesla's approach has been clear: build a vertically integrated autonomy stack and deploy it across millions of vehicles over time. The bet is that once Full Self-Driving is solved, scale follows naturally.

But Rivian and Uber are taking a different route-pairing vehicles, platform, and network upfront.

Uber brings demand. Rivian brings hardware. Together, they're attempting to compress the timeline between development and real-world deployment. And with a defined rollout plan across multiple geographies, this looks less like experimentation and more like execution.

That contrast matters.

The Network Vs The Stack

At its core, this is shaping up as a philosophical split.

Tesla is building a closed system-owning the vehicle, the software, and eventually the network. Rivian and Uber are building an ecosystem, where each piece is optimized and then combined. Alphabet Inc.'s (GOOG ) (GOOGL ) Waymo already runs commercial driverless robotaxi services in several U.S. cities, adding another layer of competition as the market scales.

In autonomous driving, scale isn't just about vehicles-it's about data. More miles mean faster learning. A 50,000-vehicle fleet operating across continents creates a data flywheel that can accelerate the process.

Tesla still has the advantage of an existing global fleet. But alliances like this could narrow that gap faster than expected.

The Race Just Got Real

The bigger shift here is psychological.

Robotaxis are no longer just a Tesla or Waymo narrative. They're becoming a competitive market.

A multi-city, multi-continent rollout signals that autonomy is moving closer to commercialization-not just promises. And it suggests that the race may not be won by the company with the best model alone, but by the one that can combine technology with distribution and execution.

Tesla isn't out of the race. But it's no longer running alone.

Apple Mac Sees Best Ever Launch Week For First Time Customers

Benzinga News — Fri, 20 Mar 2026 11:04:50 -0400

Apple Inc. (AAPL ) logged a record week for new Mac users after its latest launches, CEO Tim Cook said on X, without sharing figures. Budget Model Drives Adoption

The new MacBook Neo, priced at $599 ($499 for education), is likely fueling growth, AppleInsider reported. Unlike the MacBook Air and Pro, which target upgrades, the Neo is aimed at first-time users.

Early Signs of Demand

Industry feedback suggests strong interest, with some Intel Mac users upgrading and new customers entering the ecosystem. AppleInsider called it the "new king of budget laptops."

Analysts And Reviewers See Upside

Deepwater's Gene Munster said the lower-priced MacBook Neo could expand Apple's presence in the education market, add about 0.5% to overall revenue, and contribute roughly $2 billion annually to the Mac segment without hurting margins.

Wedbush analyst Dan Ives said Apple's new AI-focused Mac lineup could drive the next upgrade cycle and expand its user base.

He highlighted the new M5 chips as a key catalyst, noting significant gains in AI computing power and graphics performance, which position Macs for more demanding AI workloads.

Ives also pointed to the lower-priced MacBook Neo as a way to attract new users, saying the broader lineup of AI-enabled devices could support growth and help push Apple's stock toward its $350 price forecast.

Tech reviewer Marques Brownlee (MKBHD) said the device exceeded expectations for its price and called it one of Apple's most disruptive products in over a decade, highlighting its strong value despite some limitations in memory and gaming performance.

Technical Analysis

Apple is trading 5.3% below its 20-day SMA and 7.5% below its 100-day SMA, showing the stock is still working through a short-to-intermediate pullback even as it sits 0.2% above its 200-day SMA (a key long-term line in the sand). Shares are up 15.54% over the past 12 months, and the stock is positioned closer to its 52-week highs than lows.

RSI is at 35.65, which keeps momentum in neutral territory but closer to the "washed out" zone that traders watch for potential stabilization. The MACD is at -3.8992, while the signal line is at -2.5296, a bearish configuration that suggests downside pressure is still dominating the trend signal.

The combination of RSI in the 30-50 range and bearish MACD suggests mixed momentum.

Key Resistance: $280.50
Key Support: $243.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 30, 2026 (estimated) earnings report.

EPS Estimate: $1.92 (Up from $1.65 YoY)
Revenue Estimate: $109.00 Billion (Up from $95.36 Billion YoY)
Valuation: P/E of 31.5x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $304.58. Recent analyst moves include:

Wedbush: Outperform (Maintains Target to $350.00) (March 5)
Rosenblatt: Neutral (Raises Target to $268.00) (March 5)
Barclays: Underweight (Raises Target to $248.00) (March 3)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Apple, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Neutral (Score: 52.09) - The stock is acting more range-bound than trend-driven right now, consistent with a pullback that's not yet reversing.
Quality: Strong (Score: 98.36) - Apple screens as a high-quality name, which can help support longer-term investor confidence during market drawdowns.
Value: Weak (Score: 6.41) - The valuation looks expensive versus typical value benchmarks, which can limit upside when rates or risk appetite move against growth stocks.
Growth: Strong (Score: 77.25) - Growth factors remain a key pillar of the bull case, helping explain why analysts still lean constructive despite near-term technical softness.

The Verdict: Apple's Benzinga Edge signal reveals a quality-and-growth-tilted profile that's still carrying a premium valuation. With momentum sitting in the middle, the setup looks more like "wait for confirmation" than "chase," with $243.50 as the nearby level bulls typically want to defend.

Top ETF Exposure

iShares S&P 100 ETF (OEF ): 9.73% Weight
Fidelity Blue Chip Growth ETF (FBCG ): 9.90% Weight
Xtrackers S&P 500 Scored & Screened ETF (SNPE ): 9.93% Weight

Significance: Because AAPL carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

AAPL Price Action: Apple shares were down 0.37% at $248.03 at the time of publication on Friday, according to Benzinga Pro data.

Fed's Waller Says He Was Ready To Dissent For Rate Cut Until Oil Shock Made Inflation 'More Of A Concern'

Benzinga News — Fri, 20 Mar 2026 11:04:35 -0400

Federal Reserve Governor Christopher Waller said Friday he was planning to vote against the central bank's decision to hold rates steady this week after February's jobs report showed 92,000 payroll losses.

"I thought that's it, I'm dissenting," Waller told CNBC's Squawk Box. But the closure of the Strait of Hormuz and surging crude prices convinced him otherwise.

Brent crude traded around $107 Friday morning, up roughly 55% from pre-war levels near $68. The United States Oil Fund (USO ), which tracks WTI crude futures, has surged since the conflict began Feb. 28.

The Fed Cannot 'Look Through' This Oil Shock

Waller drew a line between temporary price disruptions and what the Iran war is producing. A "high and persistent" oil shock would not have a transitory impact on inflation, he said, meaning the Fed cannot dismiss it the way it dismissed post-pandemic supply chain noise.

The FOMC voted 11-1 Wednesday to hold the federal funds rate at 3.5%-3.75%. Waller had dissented at the January meeting in favor of a cut. This time he voted with the majority. Updated projections show officials now expect inflation to hit 2.7% by year-end, up from 2.4% in December.

The SPDR S&P 500 ETF Trust (SPY ) fell 1.36% Wednesday as Fed Chair Jerome Powell elevated inflation concerns during his press conference. The Dow dropped 768 points to its lowest level of the year.

Prediction Markets Have Already Repriced The Rate Path

Polymarket's "How many Fed rate cuts in 2026?" contract tells the story. Zero cuts sat at 9% before the war began. It's now the frontrunner at 31%, on $11.5 million in volume.

Before the war, traders had been pricing two to three cuts.

The ceasefire timeline may determine whether Waller gets his cuts. Polymarket's US-Iran ceasefire contract gives a 54% chance of a deal by June 30 and 71% by December 31, on $23.5 million in total volume.

One complication: the more energy infrastructure is damaged during the war, the longer it may take prices to normalize even after a ceasefire.

Waller Left The Door Open

"It doesn't mean that I'm going to stay put for the rest of the year," Waller said. "If things go reasonably well, and the labor market continues to be weak, I would start advocating again for cutting the policy rate later this year."

That makes the next few months a bet on how long oil stays elevated. If the conflict resolves and Brent drops back toward the EIA's Q3 forecast of sub-$80, the rate-cut trade may reopen. Polymarket bettors aren't holding their breath.

Google Brings Gemini To Mac In Early Test To Rival ChatGPT

Benzinga News — Fri, 20 Mar 2026 11:04:20 -0400

Alphabet Inc.'s (GOOGL ) (GOOG ) Google is stepping up its AI push with a dedicated Gemini app for Apple Inc.'s (AAPL ) Macs. Gemini App Signals Push Beyond Web AI

Google is accelerating development of a dedicated Gemini AI app for the Mac lineup to compete more directly with OpenAI and Anthropic.

The company has begun privately testing an early version with select users, gathering feedback and identifying bugs ahead of a wider release. The current version includes core features but does not yet offer the full functionality planned for launch, Bloomberg reported on Friday.

Google is pushing this effort as part of a broader race to expand access to AI chatbots, with rivals already offering Mac apps. The new app will let users generate images, videos, and music, analyze data, search the web, review past conversations, and work with uploaded documents.

New Features To Deepen User Integration

The company is also testing a feature called Desktop Intelligence, which allows Gemini to interact with other Mac apps and use on-screen context to deliver more personalized responses.

By moving beyond web access to a dedicated app, Google aims to make Gemini easier to use in everyday workflows and strengthen its position in the growing AI software market.

Technical Analysis

Alphabet is trading 0.6% below its 20-day SMA and 1.3% below its 100-day SMA, suggesting short-term hesitation, even as the longer-term trend remains constructive, with shares 17.8% above the 200-day SMA. Shares are up 88.65% over the past 12 months and are positioned closer to their 52-week highs than lows.

RSI is at 47.74, in neutral territory, suggesting neither buyers nor sellers have clear control right now. The MACD is at -2.5417, versus a signal line of -3.5478, a bullish configuration that hints that downside pressure is easing, even though the stock is still consolidating.

RSI in the 30-50 range, with a bullish MACD, indicates momentum leaning bullish.

Key Resistance: $319.50
Key Support: $296.00

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 23, 2026 (estimated) earnings report.

EPS Estimate: $2.67 (Down from $2.81 YoY)
Revenue Estimate: $100.74 Billion (Up from $90.23 Billion YoY)
Valuation: P/E of 28.4x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $376.94. Recent analyst moves include:

Needham: Buy (Maintains Target to $400.00) (March 13)
Wells Fargo: Upgraded to Overweight (Raises Target to $387.00) (February 23)
Tigress Financial: Strong Buy (Raises Target to $415.00) (February 19)

Price Action

GOOG Price Action: Alphabet shares were down 0.59% at $303.92 during premarket trading on Friday, according to Benzinga Pro data.

BTS Comeback Becomes Netflix's Biggest Live Bet Yet

Benzinga News — Fri, 20 Mar 2026 11:04:12 -0400

Netflix Inc. (NFLX ) is expanding its growth strategy across content, live experiences, and internal restructuring to strengthen its long-term positioning. Push Into Live Events And Global Reach

Netflix is moving beyond traditional streaming by investing in live programming, including a BTS comeback concert that it will livestream to 190 countries.

This marks its first global music concert broadcast and signals a push to use large-scale events as a new driver of engagement and monetization, Reuters reported on Friday.

The company is also increasing investment in South Korea, building infrastructure and strengthening local partnerships to support more live events and tap into the global appeal of Korean entertainment.

Doubling Down On Originals And Event Films

Netflix is prioritizing original storytelling over sequels and remakes, with about half of its recent slate focused on new ideas. This approach helps it stand out in a market dominated by franchises while catering to steady viewer demand.

At the same time, the company is targeting underserved genres like comedies and young adult films and plans to release a limited number of large "event films" each year to create major moments on its platform.

Workforce And Leadership Realignment

Netflix reorganized its global product team, cutting several dozen roles-mainly in its creative studio unit-while reassigning some employees to new positions as it reshaped internal structures.

The company adjusted leadership by expanding Elizabeth Stone's role to chief product and technology officer, putting her in charge of product, engineering, and data teams under a more unified structure.

These changes reflect a broader internal realignment rather than performance-related cuts, as Netflix streamlines operations while maintaining its global workforce of about 16,000 employees.

Technical Analysis

Netflix is trading 0.9% below its 20-day SMA and 3.9% below its 100-day SMA, keeping the near-to-intermediate trend in "prove it" mode, even though it's still 4.8% above the 50-day SMA. Shares are down 3.52% over the past 12 months and are currently positioned closer to their 52-week low than their 52-week high.

The RSI is at 51.42, which sits in neutral territory and suggests momentum isn't stretched in either direction. Meanwhile, MACD is at 2.4897 versus a 2.8580 signal line, a bearish configuration that points to fading upside momentum. RSI near 50, alongside a bearish MACD, suggests momentum is leaning bearish.

Key Resistance: $100.00
Key Support: $75.00

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 16, 2026 (confirmed) earnings report.

EPS Estimate: 76 cents (Up from 66 cents YoY)
Revenue Estimate: $12.17 Billion (Up from $10.54 Billion YoY)
Valuation: P/E of 36.3x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $114.11. Recent analyst moves include:

Citigroup: Buy (Target $115.00) (March 18)
Wells Fargo: Equal-Weight (Target $105.00) (March 9)
CFRA: Upgraded to Buy (Target $115.00) (March 6)

Price Action

NFLX Price Action: Netflix shares were down 0.52% at $91.26 during premarket trading on Friday, according to Benzinga Pro data.

Automation Was Meant To Replace Drivers — Instead, Gig Workers Earn Up To $24 Just To Shut Waymo Doors

Benzinga News — Fri, 20 Mar 2026 11:04:05 -0400

A gap in self-driving technology is exposing the limits of automation.

Gig workers in several U.S. cities are being paid to close Waymo robotaxi doors that won't drive off until fully closed.

A Reddit post claimed to show a DoorDash Inc. (DASH ) offer in downtown Atlanta asking a driver to locate a Waymo vehicle and shut the door. The listing included a $6.25 base payment and a $5 completion bonus.

Waymo, the self-driving unit of Alphabet Inc. (GOOGL ) (GOOG ), has reportedly used similar workarounds in other cities. The company worked with the Honk roadside assistance app in Los Angeles to dispatch help, with drivers earning up to $24 to close a door, The Washington Post reported in December.

A Microeconomy Built On Small Tasks

These assignments have created a niche gig market. Workers may spend up to an hour locating a car before completing the task, the Post reported. In some cases, towing a disabled Waymo vehicle has brought in as much as $80.

Waymo spokesperson Katherine Barna reportedly told the Post the issues are "not too common" and the company is focused on "educating and informing our riders" to close the doors.

Small Fixes, Real-World Limits

During a power outage in San Francisco in December, traffic signals were inoperative across parts of the city, requiring law enforcement to direct traffic manually.

Waymo said its vehicles may request confirmation checks in uncertain conditions and a surge in those requests during the outage led to delays that contributed to congestion.

San Francisco Board of Supervisors member Bilal Mahmood said at a meeting of the governing body early this month that Waymo data submitted to the California Public Utilities Commission showed 1,593 stoppages in the affected area during the outage.

"Our public safety officers... they're becoming default roadside assistance for these vehicles, which we do not think is tenable," San Francisco Department of Emergency Management Director Mary Ellen Carroll said at the hearing.

Coinbase Launches 24/7 Stock Trading For Tesla, Apple, Nvidia With 10X Leverage

Benzinga News — Fri, 20 Mar 2026 11:03:43 -0400

Coinbase (COIN ) launched stock perpetual futures for eligible non-U.S. users offering 24/7 leveraged synthetic exposure to Tesla (TSLA ), Apple (AAPL ), Nvidia (NVDA ), and other Magnificent 7 stocks with up to 10x leverage.The 'Everything Exchange' Expansion

Coinbase becomes one of the first major centralized venues to offer stock perpetual futures, a product that has gained traction on decentralized platforms with billions in daily trading volume.

The launch advances the company's strategy of building an "Everything Exchange" where users can access crypto, traditional assets, and emerging markets in a single venue.

At launch, eligible customers can trade perpetual futures on Apple, Microsoft (MSFT ), Alphabet (GOOGL ) (GOOG ), Amazon (AMZN ), Nvidia, Meta (META ), and Tesla. ETF perpetual futures, including SPY and QQQ, are also available where permitted.

The contracts offer up to 10x leverage on single-name stocks and up to 20x leverage on ETF products, with settlement conducted in USDC on crypto rails. Coinbase said the products support cross-margining across perpetual futures and spot positions.

Why 24/7 Stock Trading Matters

Traditional U.S. stock markets operate 24/5. Global events, macro data, and crypto volatility do not.

For retail traders, stock perpetuals provide capital-efficient access to U.S. markets with continuous trading and built-in leverage.

For institutions, they enable real-time exposure management, weekend hedging, and cross-collateral efficiency within a unified derivatives infrastructure.

Traders are rapidly increasing demand for round-the-clock equity exposure, especially in markets where accessing U.S. stocks is limited or capital intensive.

The product is accessible to retail users through Coinbase Advanced as well as institutional clients via Coinbase International Exchange.

Coinbase powers stock perpetuals using the same perpetual futures engine and risk framework it applies across its crypto derivatives markets.

The TradFi Competition

The launch builds on Coinbase's recent derivatives expansion in Europe, where the firm began rolling out crypto futures trading to users across 26 countries through its MiFID-regulated entity.

Those products include the "Mag7 + Crypto Equity Index," reflecting growing demand for hybrid exposure across asset classes.

Traditional venues are responding. CME Group plans to launch 24/7 cryptocurrency futures on May 29. Nasdaq is advancing toward 23-hour weekday equities trading targeting the second half of 2026.

COIN Tests $202 Resistance

Coinbase is up 0.5%, but pre-market shows weakness at $201.35.

The $200 zone has been tested repeatedly since February and held as support each time.

The green Supertrend zone recently appeared beneath price at $170.85, signaling an early-stage bullish flip-the first such signal since the breakdown began.

The 50 EMA sits at $202.59, essentially the current price.

A daily close above this level would be the first meaningful EMA reclaim since the November collapse.

FedEx Shares Rise After Q3 Double Beat, Outlook Raised Above Estimates

Benzinga News — Fri, 20 Mar 2026 11:03:18 -0400

FedEx Corporation (FDX ) shares are trading higher Friday after the company reported better-than-expected third-quarter financial results on Thursday after the market closed and raised its fiscal-year 2026 earnings per share guidance above estimates. Also, the company widened its fiscal-year 2026 revenue guidance above estimates.Q3 Earnings Top Estimates; Federal Express Segment Strengthens

FedEx posted adjusted earnings per share of $5.25, beating the consensus estimate of $4.13. In addition, it reported revenue of $24.00 billion, beating the consensus estimate of $23.42 billion.

The Federal Express segment delivered improved operating results, supported by stronger U.S. domestic and International Priority package yields, ongoing cost reductions tied to transformation efforts and higher U.S. domestic package volume.

In contrast, operating results at the Freight segment declined, reflecting costs related to the planned spin-off, lower shipment volumes and higher wage expenses. FedEx said the separation of its Freight business remains on track for June 1.

Looking ahead, FedEx raised its fiscal-year adjusted earnings per share guidance to a range of $19.30 to $20.10 from $17.80 to $19.00, above the consensus estimate of $18.70. The company also updated its fiscal-year revenue outlook to a range of $93.20 billion to $93.64 billion, compared with prior guidance of $93.50 billion and a consensus estimate of $92.78 billion.

FedEx Shares Climb

FDX Price Action: At the time of publication, FedEx shares are trading 6.27% higher at $378.45, according to data from Benzinga Pro.

Rivian's $1.25 Billion Uber Robotaxi Deal Looks Like A Big Win—But Some Analysts Say It's Actually A High-Stakes 'Test'

Benzinga News — Fri, 20 Mar 2026 11:01:27 -0400

Rivian Automotive Inc. (RIVN ) on Thursday announced a deal with Uber Technologies Inc. (UBER ) wherein the latter will invest up to $1.25 billion in the company through 2031, contingent on achieving specific autonomous milestones. What's The Deal?

As part of the deal, Rivian will provide up to 50,000 R2-based robotaxis. Uber has committed on an initial investment of $300 million and the initial order covers 10,000 robotaxis, with an option for Uber to purchase up to 40,000 additional robotaxis.

Rivian has to hit four performance milestones to secure the complete funding from Uber.

Analyst Says Deal Validates Rivian

BNP Paribas Equity Research senior analyst and head of US auto research, James Picariello, in a note, said that the deal shows Uber's confidence in Rivian's autonomy capabilities.

Picariello, in a note, said, "This further supports RIVN's decision to develop autonomy in-house, while confirming that it expects to reach commercially viable level 4 capabilities by 2028."

But Not Everyone Agrees

While some have called the deal a positive for Rivian, not everyone agrees.

EMJCapital's founder, Eric Jackson, in a post on X called this a test for Rivian.

"Rivian's $1.25B Uber deal looks like validation. It's actually a test," Jackson said in his post.

Jackson highlighted that Uber has signed deals with several companies, including Alphabet Inc's (GOOG ) (GOOGL ) Waymo, Lucid Group Inc. (LCID ), Nuro, Nvidia Corp. (NVDA ) and more.

Uber's deal with Rivian is an "option" for the ride-hailing giant, while Rivian is going "all-in" for the deal.

Rivian has confirmed that due to an increase in its R&D costs, it no longer expects to deliver positive EBITDA in 2027. "Rivian just pushed out profitability and increased burn," Jackson added.

Gary Black Says Rivian Will Be Acquired

The Future Fund's Gary Black, in a post on X, said that he believes that Google, Amazon.com Inc. (AMZN ), or one of the Big 3, will "ultimately acquire" Rivian to boost their presence in the EV industry and gain full autonomy.

He called this one of the reasons to own RIVN stock.

Unilever Plots Massive Breakup, Eyes Food Spin-Off Deal With McCormick

Benzinga News — Fri, 20 Mar 2026 11:01:12 -0400

Unilever PLC (UL ) is reportedly evaluating a potential separation of its food business and has entered discussions with McCormick & Company Incorporated (MKC ), marking a significant strategic shift toward its higher-growth beauty and personal care segments. Unilever confirmed that it has received an inbound offer for its 'highly attractive' Foods business and is in discussions with McCormick.

Deal Could Materialize Within Weeks

The company confirmed it has received an inbound offer for its Foods division and is currently in talks with McCormick regarding a possible transaction.

However, both companies cautioned that there is no certainty that a deal will materialize or on what terms.

The Wall Street Journal on Friday highlighted that Unilever is pursuing a major strategic shift that would further streamline its portfolio, aligning with a broader industry trend of breaking up large consumer conglomerates.

An all-stock transaction could be announced within weeks, the WSJ reported, citing people familiar with the matter, though deal structure details remain unclear and discussions could still collapse.

In recent years, Unilever has actively evaluated strategic options. It previously made an unsolicited bid for GlaxoSmithKline's consumer health unit in 2021 but abandoned the effort in 2022.

Unilever in Early-Stage Talks And Strategic Review

Citing people familiar with the matter, the Bloomberg report on Wednesday indicated that Unilever is in the early stages of reviewing options for its food portfolio.

These include a full or partial separation, or retaining select high-performing brands while divesting others.

The discussions could result in an all-stock transaction, though details remain unclear. Any potential deal may still be years away, with some indications suggesting no transaction before 2027.

Unilever noted that its board continues to view the Foods business as a strong, attractive unit with leading brands and solid financial performance.

Unilever Focus Shifts Toward Beauty And Personal Care

The potential move aligns with CEO Fernando Fernandez's strategy to sharpen focus on beauty, personal care, and wellbeing categories. The company has increasingly prioritized these segments as part of a broader effort to streamline operations.

Fernandez previously indicated that large-scale acquisitions are not currently under consideration, emphasizing instead smaller, targeted deals to strengthen core segments.

Industry Trend Toward Simplification

Unilever's review reflects a broader trend among consumer conglomerates to simplify complex portfolios.

In recent years, several companies have moved away from sprawling structures to concentrate on higher-margin, faster-growing categories.

The company has already taken steps in this direction, including spinning off its ice cream business last year into Magnum Ice Cream, which houses brands such as Ben & Jerry's and Breyers.

McCormick Evaluates Strategic Opportunity

McCormick confirmed it is actively engaged in discussions and continues to evaluate strategic opportunities consistent with its goal of maximizing shareholder value.

The company added that it will not provide further updates unless disclosure becomes necessary, underscoring the preliminary nature of the talks.

Price Action: Unilever shares were up 1.48% at $62.42 during premarket trading on Friday, according to Benzinga Pro data. McCormick shares were up 3.68% at $56.04.

Amazon Eyes Smartphone Comeback — 'Transformer' Project Reportedly Targets AI-Driven Future

Benzinga News — Fri, 20 Mar 2026 11:00:50 -0400

Amazon.com Inc (AMZN ) is dialing up a second attempt at the smartphone market. More than a decade after the Fire Phone was scrapped, the e-commerce giant is developing a new device known internally as "Transformer." The project lives within Amazon's devices and services unit. The initiative aims to fulfill founder Jeff Bezos' vision of a ubiquitous, voice-driven "Star Trek" computer, reported Reuters, citing sources.

AI Integration Over App Stores

The "Transformer" project reportedly prioritizes artificial intelligence. Sources told Reuters that AI capabilities could eliminate the need for traditional app stores.

Alexa remains a core feature, but it may not serve as the primary operating system.

The device is envisioned as a mobile personalization device. It seeks to streamline access to Prime Video, Prime Music and Grubhub.

Amazon did not immediately respond to Benzinga's request for comment.

The 'ZeroOne' Breakthrough Mandate

According to Reuters, a year-old group called ZeroOne leads the development. Former Microsoft Corp (MSFT ) executive J Allard heads the unit.

Reuters sources indicate Amazon is exploring both traditional smartphones and "dumbphones." The latter would mirror the minimalist Light Phone to counter screen addiction.

Fueling the AI Infrastructure

This hardware push coincides with massive backend investments. On Thursday, Nvidia Corp (NVDA ) VP Ian Buck said that Nvidia will deliver 1 million AI chips to Amazon Web Services (AWS) by 2027.

Additionally, Amazon and Meta Platforms Inc (META ) are driving a record $45.1 billion data center construction boom to power these emerging technologies.

AMZN Price Action: Amazon.com shares were down 0.60% at $207.50 during premarket trading on Friday, according to Benzinga Pro data.

XPeng Sounds Alarm On China EV Demand With Disappointing Outlook

Benzinga News — Fri, 20 Mar 2026 11:00:42 -0400

XPeng Inc. (XPEV ) delivered a milestone quarter, swinging to profit and posting robust growth, but a revenue miss and a sharply weaker outlook signaled mounting pressure from a cooling Chinese EV market. Revenue Growth And Deliveries

The company delivered 22.25 billion Chinese yuan ($3.18 billion) in quarterly revenue, a 38.2% year-over-year (Y/Y) jump that landed just shy of the $3.32 billion analyst consensus forecast.

The Tesla Inc. (TSLA ) rival's quarterly vehicle deliveries increased 27.0% Y/Y to 116,249.

XPeng's physical sales network had 721 stores, covering 255 cities as of December 31, 2025.

XPeng's self-operated charging station network reached 3,159 stations as of December 31, 2025, including 2,108 XPENG ultra-fast charging stations.

Margins, Profitability, And Balance Sheet

Revenues from vehicle sales increased 30.0% Y/Y to 19.07 billion Chinese yuan ($2.73 billion) due to higher deliveries.

Gross margin was 21.3% versus 14.4% a year ago.

Vehicle margin was 13.0% versus 10.0% a year ago, primarily attributable to the cost reduction.

Operating loss for the quarter was 40 million Chinese yuan ($10 million)

Adjusted earnings per ADS were 0.52 Chinese yuan versus the analyst consensus loss estimate of 0.06 Chinese yuan. In USD terms, the adjusted EPADS was 7 cents.

The company held $6.81 billion in cash and equivalents as of December 31, 2025.

Strategy And Outlook

Xiaopeng He said XPeng delivered 429,445 vehicles in 2025, marking a 125.9% year-over-year increase, while continuing to advance its Physical AI strategy through faster commercialization and global expansion.

He added that the company is at a key turning point in AI-driven mobility, aiming to grow its share in AI-defined vehicles, move from advanced driver assistance toward full autonomy, expand its next-generation VLA model globally, and scale production of humanoid robots.

XPeng projects fiscal first-quarter 2026 vehicle deliveries between 61,000 and 66,000 units, reflecting a decline of 29.79%-35.11% Y/Y.

The company anticipates a quarterly revenue of 12.20 billion Chinese yuan to 13.28 billion Chinese yuan (marking a decline of 16.01%-22.84% Y/Y), versus the analyst consensus estimate of 14.81 billion Chinese yuan.

XPeng's weak first-quarter revenue outlook, hit by slowing Chinese EV demand, overshadowed its first-ever quarterly profit at the end of 2025, Bloomberg reported.

The report added that Chinese automakers are bracing for weaker EV demand as subsidy cuts weigh on sales, with overall passenger vehicle sales down 25% year-on-year in February and new energy vehicles falling even more, according to the China Passenger Car Association.

XPEV Price Action: XPeng shares were down 2.35% at $18.70 during premarket trading on Friday, according to Benzinga Pro data.

Meta Platforms Moves Beyond Metaverse, Here's How Much Stock Has Gained Since Company Changed Name

Benzinga News — Fri, 20 Mar 2026 10:55:08 -0400

Technology giant Meta Platforms (META ) has been betting aggressively on the growth of artificial intelligence in recent years. This has come at the expense of eliminating jobs in the company's metaverse segment and spending less time on the areas that CEO Mark Zuckerberg once bet the company's name on.

Job cuts for the metaverse division may have been only for that division as the company is now making major changes to Horizon Worlds, a social VR platform.

Meta announced the changes in a recent blog post. According to Quartz, Facebook's parent company is killing off the metaverse after losing $80 billion.

Meta will remove Horizon Worlds from Quest headsets by June 15, with the app gone by end of March. The game will become a mobile app after the changes and see less focus on from Meta Platforms.

While the company is making changes to Horizon Worlds, Meta is not giving up on VR with plans to release more VR hardware and Ray-Ban smart glasses that focus more on AI than virtual worlds.

At 2024 Meta Connect, Zuckerberg said the company was "getting closer to achieving the dream of Reality Labs."

Many Meta shareholders likely disagree after watching the Reality Labs segment bleed cash for years as an unprofitable venture.

The good news for Meta shareholders is the stock has performed well even with the Reality Labs losses, dating back to before the company changed its name from Facebook to Meta Platforms.

Meta Name Change

Meta's heavy bet on the metaverse reached new heights nearly five years ago when the company formerly changed its name to Meta Platforms on Oct. 29, 2021.

"Connection is evolving and so are we," the company said at the time. "The metaverse is the next evolution of social connection. Our company's vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to this future."

Zuckerberg announced the name change at the Facebook Connect event in 2021.

"To reflect who we are and what we hope to build, I am proud to announce that starting today, our company is now Meta," Zuckerberg said.

Zuckerberg said from that moment on the company would be "metaverse-first, not Facebook-first."

The company changed its name to Meta Platforms and eventually changed its stock ticker from FB to MVRS. In 2022, the company announced it would change its ticker from MVRS to the current META.

Investing $1,000 in FB Stock

Trading as ticker FB at the time, shares traded at around $325.52 on Oct. 28, 2021, when the rebranding and new company focus were announced.

A $1,000 investment in Facebook shares could have bought 3.07 shares then. Today, the $1,000 investment would be worth $1,867.48, up 86.7% over the last four and a half years.

For comparison, investing in the SPDR S&P 500 ETF Trust (SPY ), which tracks the S&P 500 Index, would have performed worse. A $1,000 investment in the SPY at the time would be worth $1,440.63 today, up 44.1%.

Tesla In Talks To Purchase $2.9 Billion Worth Of Solar Equipment From Chinese Suppliers: Report

Benzinga News — Fri, 20 Mar 2026 10:54:59 -0400

Tesla Inc. (TSLA ) is reportedly in discussions with several Chinese companies to acquire solar manufacturing equipment worth $2.9 billion. Suzhou Maxwell Technologies, a leading maker of screen-printing equipment for solar cell manufacturing, is among the top contenders to supply machinery for the project and is currently seeking export approval from China's commerce ministry, reported Reuters on Friday.

Other potential suppliers include Shenzhen S.C New Energy Technology and Laplace Renewable Energy Technology. The $2.9 billion worth of equipment, including screen-printing production lines, will require export approval from Chinese regulators. However, the specifics of the equipment requiring approval and the duration of the approval process remain uncertain.

Chinese suppliers have been asked to deliver equipment by autumn, some to Texas, for Elon Musk's planned solar capacity, which will mainly support Tesla, with a portion powering SpaceX satellites, as per the publication.

Tesla did not immediately respond to Benzinga's request for comment.

Tesla Targets 100GW US Solar Push

This move is a part of Musk's 100-gigawatt solar goal, which includes an active U.S. manufacturing push by exploring multiple sites to manufacture solar cells. The company had also considered expanding its Buffalo, New York, factory to increase capacity to about 10 gigawatts and discussed the possibility of constructing a second facility in New York in the long term.

Tesla's job listings also hint at the company's objective to deploy 100 GW of "solar manufacturing from raw materials on American soil before the end of 2028".

Musk-Trump Policy Clash On Solar

Elon Musk has called solar the "biggest source of power" as the AI industry searches for scalable energy solutions. He criticized U.S. tariffs for making solar deployment "artificially expensive," even as demand surges from AI data centers and manufacturing-drawing a sharp contrast with President Donald Trump's push to expand fossil fuels and scale back support for renewables.

An October report by Deloitte says new U.S. tax changes under Trump's One Big Beautiful Bill Act (OBBA) have rolled back clean energy incentives, putting pressure on early-stage wind and solar projects. Investments fell 18% to about $35 billion in early 2025, and solar program costs are expected to rise from 36% in 2025 to 55% in 2026, as tax credits phase out.

Market Update: Dow Falls 200 Points on Sour Iran War Outlooks

Rachel Hemple — Thu, 19 Mar 2026 15:58:36 -0400

Stocks fell for a second straight day on Thursday, but pared some of the losses from earlier in the session, as market participants continued to assess the potential long-term impacts of the United States-Israeli war with Iran.

The Dow Jones Industrial Average (DIA ) sunk over 200 points to settle at 46,021.43 on Thursday, while the S&P 500 Index (SPY ) and Nasdaq Composite (QQQ ) were each down about 0.3% to close at 6,606.49 and 22,090.69, respectively. At session lows, the Dow was down almost 500 points, while the S&P 500 had fallen about 1% and the Nasdaq lost 1.4%.

Crude oil futures eased on Thursday, as Israeli Prime Minister Benjamin Netanyahu said that his country will help the U.S. open the Strait of Hormuz to support global shipping routes. International benchmark Brent crude futures advanced about 1% to settle at $108.65 per barrel following the announcement, but spiked by as much as 10% earlier in the session due to continued investor uncertainty. U.S. benchmark West Texas Intermediate ticked down to $96.14 on Thursday.

On the economic front, initial jobless claims fell below expectations for the week ended March 14, data from the Labor Department showed on Thursday. First time filings totaled 205,000, declining from the previous week's print of 213,0000. Continue unemployment claims, which are tracked a week behind, totaled a more-than-expected 1.86 million, increasing by 10,000 over the prior week.

In earnings news, Micron Technology (MU ) shares rose on Thursday after the chipmaker almost tripled its revenue in its second-quarter, as demand for Nvidia's (NVDA ) graphics processing units was met with a large supply crunch. For the current quarter, Micron guides for about $33.5 billion in revenue, implying annual growth of over 200%, and adjusted earnings per share of about $19.15.

"The step-up in our results and outlook are the outcome of an increase in memory demand driven by AI, structural supply constraints and Micron's strong execution across the board," CEO Sanjay Mehrotra said in a statement.

Elsewhere, the Federal Reserve on Thursday released its proposal to lower capital requirements for financial institutions in an effort to increase lending to support the U.S. economy. Under the proposal, JPMorgan Chase (JPM ) and Bank of America (BAC ), the nation's largest banks, would see their capital fall by 4.8%, while other large bank -- with assets between $100 billion and $700 billion -- would see their requirements reduce by 5.2%. Bank with less than $100 billion in assets would see their capital requirements decline by 7.8%.

"Calibration is important, however, over-calibration can harm bank competitiveness and the ability to serve customers, limit the availability of credit, and stifle economic growth," said Michelle Bowman, vice chair of supervision at the Fed and the top official leading the capital overhaul.

For Friday, investors will continue to monitor developments in the Middle East. Key earnings for the session include FedEx (FDX ) and XPeng (XPEV ).

Uber Founder Travis Kalanick Says Waymo Is 'Obviously Ahead' Of Tesla In Self-Driving Race

Benzinga News — Thu, 19 Mar 2026 15:09:56 -0400

The man who built Uber Technologies Inc. (UBER ) into the world's largest ride-hailing company says Alphabet Inc.'s (GOOGL ) (GOOG ) Waymo is winning the self-driving race, but they may not have the stomach to finish it.

Travis Kalanick told the All-In Summit in Austin this week that Waymo is "obviously ahead" and called it "the existence proof" that autonomous driving works, but he flagged a weakness that should matter to GOOGL investors: "Their issue is manufacturing and scale and urgency and fierceness."

On Tesla Inc. (TSLA ), Kalanick called the company's camera-only approach to self-driving "hard mode times 100." Unlike Waymo, which uses lidar and radar alongside cameras, Tesla is betting it can achieve full autonomy with vision alone.

Kalanick said the whole thing comes down to timing. He's waiting for what he called "the ChatGPT moment for vision," a single breakthrough that makes the approach click at scale. "Could happen tomorrow, could happen in 5 years."

He dismissed everyone else: "There's a lot of other little guys that don't really have the stuff yet."

What Prediction Markets Say

On Polymarket, a contract asking whether Tesla will launch robotaxis in California by June 30 is at just 13%.

Musk said in January he expected Tesla's robotaxi service to be "very, very widespread" across the U.S. by end of 2026, but Tesla has logged zero autonomous test miles on California roads since 2019 and still lacks the permits needed to go driverless in the state.

Polymarket has a market tracking which cities Waymo will operate in by June 30. The 12-or-more outcome leads at 36%.

Waymo is already running about 2,500 vehicles across 10 U.S. cities, logging over 400,000 driverless rides per week and targeting 1 million by year-end. That's the scale gap Kalanick is pointing at.

Kalanick Is Getting Back In

Kalanick used the Summit to unveil his new company Atoms, formerly the stealth operation known as City Storage Systems.

Kalanick framed Atoms around a simple analogy. In a traditional computer, a CPU processes data, storage holds it, and a network moves it. Atoms does the same thing but for the physical world. Manufacturing processes physical goods, real estate stores them, logistics moves them.

The company's first product was a food operation, kitchen infrastructure and delivery across 30 countries.

Now he's expanding into autonomous mining through the pending acquisition of Pronto, and building a wheelbase platform for specialized robots.

Separately, The Information reported last week that Kalanick is also building a self-driving venture with major Uber backing and wants to be "more aggressive" than Waymo in rolling out autonomous technology.

Move Over Meta, Microsoft — Constellation, NextEra Hit Big Tech Valuations In 2026's Weirdest Trade

Benzinga News — Thu, 19 Mar 2026 15:09:49 -0400

The stock market's strangest trend of 2026 might be hiding in the utility sector. Constellation Energy Corp. (CEG ) and NextEra Energy Inc. (NEE ) - two stalwarts of the U.S. power grid - are now trading at earnings multiples that rival Silicon Valley's biggest names.

Constellation's price-to-earnings ratio has surged to 30.3, topping Meta Platforms' (META ) 21.5 and even edging past Microsoft (MSFT ) at 26, according to Benzinga Pro data.

Meanwhile, NextEra Energy sits at 25.3, roughly in line with premium tech valuations.

For a sector once prized mainly for stability and dividend yield, the shift represents one of the market's most unexpected reratings in years.

The primary driver? Wall Street's growing realization that AI's data-center boom is a utilities bull market in disguise.

AI-Related Demand, Of Course

Explosive energy demand from hyperscale data centers, cloud infrastructure and generative AI model training has pushed investors toward electricity providers-especially those positioned for clean generation and grid expansion.

Constellation, a leader in nuclear power, and NextEra, dominant in renewables, have emerged as twin beneficiaries.

The Upside-Down

At the same time, traditional tech heavyweights are facing a valuation recalibration. Concerns over massive AI capex, slowing software growth, and what some are calling a "software apocalypse" have cooled enthusiasm around the sector's once-unstoppable leaders.

Carnegie Investment Counsel summed up the rotation succinctly in its latest market commentary:

"The early-2026 stock market rotation has produced unusual market dynamics ... Market leadership has changed, which reminds us that markets are constantly recalibrating expectations."

What makes this moment remarkable is not just valuation math, but who's wearing the "growth stock" crown now.

Utilities as the new tech trade? In 2026, that paradox has become one of the market's most profitable ironies.

Netflix Challenges Franchise Era With Massive Originals Push

Benzinga News — Thu, 19 Mar 2026 15:09:43 -0400

Netflix Inc (NFLX ) is reshaping its strategy to unlock more value by doubling down on original content, expanding underserved genres, and turning hit titles into broader franchises. Original Content Takes Center Stage

The company is prioritizing original storytelling over sequels and remakes, even after missing out on acquiring Warner Bros. Discovery, Inc. (WBD ). It continues to invest heavily in building or buying new films, with about half of its recent slate focused on original ideas.

This approach aims to stand out in a market where most top theatrical releases rely on existing franchises and to better meet steady viewer demand, with subscribers watching about seven movies a month.

Filling Gaps And Building Event Films

Netflix is also targeting genres that traditional studios have pulled back from, especially comedies and young adult films. It is developing multiple comedy titles and youth-focused projects to capture underserved audiences.

At the same time, the company plans to release a limited number of large "event films" each year, including major projects like a new "Narnia" adaptation, to drive engagement and create tentpole moments on its platform, the Los Angeles Times reported on Thursday.

Expanding Hits Into New Revenue Streams

Beyond films, Netflix is working to extend the value of its biggest successes. The company is exploring a global tour tied to its hit "KPop Demon Hunters," following the strong performance and cultural impact of its music, Bloomberg reported on Thursday.

It has also pursued partnerships and consumer products tied to the film, demonstrating its aim to monetize content beyond streaming. This broader push highlights Netflix's strategy to turn popular titles into multi-platform opportunities while strengthening its overall entertainment ecosystem.

Technical Analysis

Netflix is trading about 1% above its 20-day SMA but about 3% below its 100-day SMA, a setup that suggests short-term Support is holding while the intermediate trend still needs work.

Shares are down 3.76% over the past 12 months and are closer to the middle of the 52-week range than to the highs, after rebounding from the late-February low.

RSI is at 60.05, which keeps momentum in neutral territory, closer to the "warming up" side than to oversold conditions. MACD is 2.9056 versus a 2.9532 signal line, a bearish configuration that often shows upside momentum is fading after a run.

RSI in the 50-70 range, with a bearish MACD, indicates momentum is leaning bearish, even though the stock isn't stretched to an overbought extreme.

Key Resistance: $100.00
Key Support: $75.00

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 16, 2026 (confirmed) earnings report.

EPS Estimate: 76 cents (Up from 66 cents YoY)
Revenue Estimate: $12.17 Billion (Up from $10.54 Billion YoY)
Valuation: P/E of 37.4x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $114.11. Recent analyst moves include:

Citigroup: Buy (Target $115.00) (March 18)
Wells Fargo: Equal-Weight (Target $105.00) (March 9)
CFRA: Upgraded to Buy (Target $115.00) (March 6)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Netflix, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Weak (Score: 21.17) - The stock's recent trend strength is lagging, which can make breakouts harder to sustain.
Quality: Strong (Score: 89.34) - The business scores well on operational and financial durability versus many peers.
Value: Weak (Score: 12.76) - The market is pricing the stock at a premium, leaving less room for error if growth cools.
Growth: Strong (Score: 95.33) - Expectations for expansion remain a key part of the bull case.

The Verdict: Netflix's Benzinga Edge signal reveals a growth-and-quality story that still looks expensive and isn't showing strong momentum right now. For longer-term investors, that often means the next sustained move may depend on execution and guidance catching up to the valuation.

Top ETF Exposure

The Communication Services Select Sector SPDR Fund (XLC ): 5.71% Weight
First Trust DJ Internet Index Fund (FDN ): 9.31% Weight

Significance: Because NFLX carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

NFLX Price Action: Netflix shares were down 2.31% at $92.51 at the time of publication on Thursday, according to Benzinga Pro data.

Apple Made $900M From AI Last Year While Rivals Burned Through Cash

Benzinga News — Thu, 19 Mar 2026 14:10:51 -0400

Apple Inc. (AAPL ) let the hyperscalers and frontier AI labs fight over who builds the best chatbot. Then it charged them rent. Analysis firm AppMagic estimates generative AI apps paid Apple nearly $900 million in App Store fees in 2025, with three-fourths coming from OpenAI's ChatGPT alone.

xAI's Grok was a distant second at roughly 5%.

The Wall Street Journal reported on Thursday that Apple is on pace to cross $1 billion in AI revenue this year from commissions alone.

The Toll Road Vs. The Money Pit

The contrast with the AI builders is hard to ignore.

Amazon (AMZN ), Alphabet (GOOGL ) (GOOG ), Meta Platforms (META ) and Microsoft (MSFT ) are on track to spend close to $700 billion combined on AI infrastructure in 2026.

Morgan Stanley projects Amazon's free cash flow will go negative this year, potentially by as much as $28 billion according to Bank of America. Barclays sees Meta's free cash flow dropping nearly 90%.

Apple's capex is a fraction of that.

While rivals race to build frontier models and data centers, Apple collects a 30% cut on every AI subscription that ships through the App Store in year one, and 15% thereafter.

Wedbush's Dan Ives, who estimates Apple's AI layer alone could be worth $1.5 trillion, has called it an "invisible AI strategy" that the market is barely pricing in.

Rather than trying to win the model race, Apple is using its distribution to monetize the winners.

The bet is that 2.4 billion active iOS devices give Apple an unmatched distribution layer to monetize AI through subscriptions and services without the capex burden.

He sees AI monetization adding $75 to $100 per share over the coming years.

What Bettors Think

A Polymarket contract tracking whether the AI bubble will burst by end of 2026 sits at 17%, with $2.2 million in volume.

Resolution triggers include Nvidia Corp (NVDA ) falling 50% from its all-time high or OpenAI declaring bankruptcy.

If something like that materializes, Apple's minimal capex exposure may leave it better positioned than rivals staring down negative free cash flow.

But the bull case for Apple doesn't require a crash. Even if AI simply commoditizes and the frontier models converge on similar capabilities, Apple still collects a 30% cut on every subscription that ships through the App Store.

Apple is trading around $249 this morning, Polymarket betters give it a 15% chance of being the largest company by market cap by the end of the year.

Forget $5 Trillion, Dan Ives Thinks Nvidia Is $6 Trillion Company In Making

Benzinga News — Thu, 19 Mar 2026 14:10:35 -0400

Despite recent stock market "digestion," Wedbush Securities analyst Dan Ives remains ultra-bullish on Nvidia Corp. (NVDA ), projecting the chipmaker will hit a $6 trillion market capitalization by 2027 as the artificial intelligence (AI)revolution enters its next aggressive phase.

The 'Godfather' Of AI Revolution

In a recent interview with CNBC International, following Nvidia's GTC event, Ives dismissed concerns over the stock's recent "treadmill" price action, attributing the volatility to the company becoming a "victim of their own success."

While some investors are demanding immediate proof of further growth, Ives argues that we are only in year three of an 8 to 10-year build-out. "There's one chip in the world fueling the AI revolution, and that's Nvidia," Ives stated, referring to CEO Jensen Huang as the "Godfather of AI."

He noted that the demand-to-supply ratio for Nvidia's chips currently sits at a staggering 12-to-1, a gap that suggests the company is "sandbagging" its long-term guidance by 20% to 30%.

A $6 Trillion Milestone

The crux of the Wedbush thesis lies in the sheer scale of the addressable market. While the market currently eyes a $3 trillion to $4 trillion opportunity in inference and hardware, Ives believes the trajectory is much steeper.

"I think this is a $6 trillion market cap by 2027," Ives predicted, citing a massive backlog and the transition of Nvidia from a mere chip provider to a foundational platform.

As per the last check, Nvidia's market valuation stood at $4.385 trillion.

The Second And Third Derivatives

Beyond the hardware, Ives highlighted a "memory super cycle" and an impending software boom. He expects software to become the "hearts and lungs" of the AI revolution in the second half of the year.

Despite competition from hyperscalers like Alphabet Inc.'s (GOOG ) (GOOGL ) and Microsoft Corp. (MSFT ), Ives maintains that the "AI ghost trade" is ending, giving way to a sustained bull cycle.

"This is still a bull cycle for tech despite obviously this white-knuckle period," Ives concluded, reinforcing his view that Nvidia remains the primary engine of the global tech landscape.

NVDA Tumbles Over 3% In 2026

Shares of Nvidia were down 3.27% year-to-date, while the Nasdaq 100 index tumbled 3.10% in the same period. NVDA was also higher by 2.36% over the last six months and 56.29% over the year.

It closed 0.84% lower at $180.40 on Wednesday and was down 0.55% in premarket on Thursday.

Benzinga's Edge Stock Rankings indicate that NVDA maintains a strong price trend over the long term but a weak trend in the short and medium terms, with a poor value score.

Can AI Make Home Loans Cheaper? Palantir Thinks So

Benzinga News — Thu, 19 Mar 2026 14:10:29 -0400

Palantir Technologies Inc. (PLTR ) and Moder on Thursday announced a strategic partnership to develop an AI-powered mortgage operations platform, with Freedom Mortgage as the initial pilot customer. The platform combines Palantir's data and artificial intelligence capabilities with Moder's mortgage industry expertise. It is designed to integrate with existing systems and automate complex workflows by translating policies and guidelines into configurable, testable, and auditable rules.

The companies said early deployments with Freedom Mortgage are already live across several processes. These implementations have improved speed and accuracy, helping mortgage operators work more efficiently while enhancing the customer experience.

Moder Chairman Michael Middleman said the partnership aims to "reshape the future of our industry" by improving affordability, lowering borrowing costs, and expanding access to homeownership. Moder CEO Erik Anderson added that the technology is delivering measurable operational gains and will help scale customized, automated solutions across clients.

Freedom Mortgage COO Mike Patterson highlighted improvements in servicing speed and ease, while Palantir's Elias Davis said the platform can unify data across the mortgage lifecycle and enable governed, end-to-end AI workflows.

The collaboration marks a broader push to modernize mortgage operations using AI-driven automation.

Technical Analysis

Currently, Palantir is trading 4.3% above its 20-day simple moving average (SMA) but is 8.8% below its 100-day SMA, indicating some short-term strength but longer-term challenges. Shares have increased 77.43% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

The RSI is at 54.63, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, the MACD is at 1.7011, above its signal line at 0.1973, indicating bullish momentum.

The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating that traders should watch for potential shifts in market sentiment.

Key Resistance: $161.50
Key Support: $126.50

Earnings & Analyst Outlook

Palantir is slated to provide its next financial update on May 4, 2026 (estimated).

EPS Estimate: 26 cents (Up from 13 cents)
Revenue Estimate: $1.54 billion (Up from $883.86 million)
Valuation: P/E of 242.5x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $196.43. Recent analyst moves include:

UBS: Buy (Raises Target to $200.00) (Mar. 18)
Wedbush: Outperform (Maintains Target to $230.00) (Mar. 16)
Rosenblatt: Buy (Raises Target to $200.00) (Mar. 3)

Top ETF Exposure

iShares Expanded Tech-Software Sector ETF (IGV ): 8.32% Weight
REX AI Equity Premium Income ETF (AIPI ): 8.93% Weight
NestYield Dynamic Income ETF (EGGY ): 7.66% Weight

Significance: Because PLTR carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

Price Action

PLTR Price Action: Palantir Technologies shares were down 0.34% at $152.25 during premarket trading on Thursday, according to Benzinga Pro data.

Uber Fires Up Rivian's Robotaxi Drive With $1.25 Billion Deal

Benzinga News — Thu, 19 Mar 2026 14:10:23 -0400

Rivian (RIVN ) shares are trading higher during Thursday's premarket session following a billion-dollar partnership announcement with Uber Technologies, Inc. (UBER ). The news comes as the broader market is experiencing a mixed performance, with major indices showing losses.

Uber will invest up to $1.25 billion in Rivian through 2031, contingent on achieving specific autonomous milestones.

The investment represents a significant capital boost relative to Rivian's $5.387 billion in full-year 2025 revenue, up 8% from $4.970 billion in 2024, underscoring the deal as strategic funding support.

Rivian had long-term debt worth $4.44 billion as of December 2025.

The initial commitment includes a $300 million investment, aimed at deploying thousands of Rivian R2 robotaxis across 25 cities by the end of 2031.

The partnership is expected to accelerate Rivian's path to level 4 autonomy, with initial deployments planned for San Francisco and Miami starting in 2028.

The collaboration could lead to the purchase of up to 40,000 additional autonomous vehicles by 2030, enhancing Rivian's position in the autonomous vehicle market.

The broader market experienced losses on Wednesday, with the Consumer Discretionary sector declining 0.35%. Rivian's stock decline occurred as the sector moved lower, indicating that broader market trends may be influencing its performance.

Rivian Technical Analysis

Rivian is currently trading 0.1% below its 20-day simple moving average (SMA) and 8.5% below its 100-day SMA, indicating some short-term weakness. Shares have increased 36.71% over the past 12 months and are currently positioned closer to their 52-week lows than highs.

The RSI is at 48.61, which is considered neutral territory, suggesting no immediate overbought or oversold conditions. Meanwhile, MACD shows a value of -0.0573, with the signal line at -0.1131, indicating a bullish crossover as the MACD is above the signal line.

The combination of neutral RSI and bullish MACD suggests mixed momentum for Rivian.

Key Resistance: $18.00
Key Support: $14.00

Rivian is currently underperforming the Consumer Discretionary sector, which is ranked 7 out of 11 sectors. The sector has seen a decline of 4.71% over the past 30 days, indicating a challenging environment for companies within this space.

Rivian has multiple vehicles in its fleet, including a luxury truck, a full-size SUV, and a delivery van. The company plans to begin selling a midsize SUV in 2026 and is also developing autonomous driving software to be used in its vehicles.

Analyst Outlook

Rivian stock carries a Hold rating with an average price target of $17.95. Recent analyst moves include:

TD Cowen: Upgraded to Buy (Raises Target to $20.00) (Mar. 10)
Stifel: Buy (Raises Target to $20.00) (Feb. 17)
DA Davidson: Downgraded to Underperform (Lowers Target to $14.00) (Feb. 17)

Top ETF Exposure

First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN ): 6.27% Weight
iShares Morningstar Small-Cap Value ETF (ISCV ): 0.55% Weight
iShares Self-Driving EV and Tech ETF (IDRV ): 3.81% Weight

Significance: Because RIVN carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

RIVN Stock Price Activity: Rivian Automotive shares were up 8.56% at $16.86 during premarket trading on Thursday, according to Benzinga Pro data.

Macy's Focuses On Luxury Expansion, Asset Sales Amid Retail Shift

Benzinga News — Thu, 19 Mar 2026 14:09:58 -0400

While Macy's Inc (M ) reported upbeat fourth-quarter results, its outlook reflects flexibility due to uncertainty, according to Telsey Advisory Group. The Macy's Analyst: Analyst Dana Telsey reiterated a Market Perform rating, while reducing the price target from $25 to $20.

The Macy's Thesis: The company reported a strong earnings beat, with sales, gross margin, and operating expense deleverage coming in better than consensus estimates, Telsey said in the note.

The fourth-quarter momentum has continued so far in the first quarter, she added.

Management announced its 2026 sales guide higher than consensus expectations, reflecting "a relatively resilient customer while contemplating that macro and geopolitical factors could impact discretionary spend," the analyst wrote.

She further stated that Macy's continues to pursue its Bold New Chapter strategy, which includes:

Closing 150 underperforming stores
Expanding its luxury footprint by 20%
Targeting asset monetization of $650-$700 million

M Price Action: Macy's shares were down 1.19% at $17.51 at the time of publication on Thursday, according to Benzinga Pro data.

Stellantis EVs Gain Tesla Supercharger Access Across North America

Benzinga News — Thu, 19 Mar 2026 14:09:53 -0400

Stellantis N.V. (STLA ) said Thursday it is expanding fast-charging access in North America by enabling its battery-electric vehicles (BEVs) to use Tesla, Inc.'s (TSLA ) Supercharger network. Owners of Dodge, Jeep, Ram, FIAT, and Maserati EVs can now access more than 27,500 Tesla Superchargers using a Free2move Charge NACS-CCS1 DC adapter. The adapter is available at certified dealerships and Mopar.com, while some Tesla stations offer a built-in "Magic Dock" adapter.

The Free2move Charge app helps drivers find compatible stations, manage charging sessions, and handle payments. It also supports other public charging networks, including IONNA Rechargeries.

Compatible models span 2024 to 2026 model years, including the Dodge Charger Daytona and Jeep Wagoneer S. Stellantis added that the 2027 Dodge Charger Daytona will feature a native NACS port, allowing direct charging without an adapter.

The move strengthens Stellantis' charging network strategy and improves convenience for EV drivers.

Technical Analysis

Stellantis is currently trading 10.8% below its 20-day simple moving average (SMA) and 33.3% below its 100-day SMA, indicating a bearish trend in the short to medium term.

Over the past 12 months, shares have decreased by 48.76%, and they are positioned closer to their 52-week lows than highs, reflecting ongoing challenges for the stock.

The RSI is at 26.99, which is considered oversold, suggesting that the stock may be undervalued at this time. Meanwhile, the MACD is at -0.5575, below its signal line of -0.5558, indicating bearish pressure on the stock.

The combination of oversold RSI and bearish MACD suggests mixed momentum, indicating that while the stock is oversold, the bearish trend may continue until a reversal is confirmed.

Key Resistance: $7.00
Key Support: $6.00

Earnings & Analyst Outlook

Stellantis is slated to provide its next financial update on July 28, 2026 (estimated).

EPS Estimate: 20 cents (Down from 20 cents YoY)
Revenue Estimate: $50.83 Billion (Down from $84.24 Billion YoY)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $16.12. Recent analyst moves include:

Freedom Capital Markets: Upgraded to Buy (Lowers Target to $9.00) (Feb. 10)
Piper Sandler: Upgraded to Overweight (Raises Target to $15.00) (Jan. 8)
Goldman Sachs: Initiated with Neutral (Target $10.00) (Nov. 24, 2025)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Stellantis, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Weak (Score: 2.95) - Stock is underperforming the broader market.

The Verdict: Stellantis N.V.'s Benzinga Edge signal reveals a weak profile, indicating challenges in maintaining momentum in a competitive market landscape. Investors should closely monitor upcoming earnings and market conditions to gauge potential recovery signals.

Price Action

STLA Price Action: Stellantis shares were down 0.38% at $6.47 at the time of publication on Thursday. The stock is trading near its 52-week low of $6.46, according to Benzinga Pro data.

Google Bets On AI To Simplify Prescriptions And Symptom Checks In Europe

Benzinga News — Thu, 19 Mar 2026 14:09:43 -0400

Alphabet Inc.'s (GOOG ) (GOOGL ) Google is deepening its push into AI-powered healthcare through a new partnership aimed at improving digital patient experiences in Europe. AI Health Partnership Announced

Google has partnered with online pharmacy DocMorris to develop an AI-driven digital health companion to simplify symptom checks and e-prescriptions across Europe.

The collaboration will integrate Google's Gemini models with Google Cloud, Google Ads and Google for Health. It aims to create a more personalized user experience for customers.

Product Capabilities And Infrastructure

The platform will guide users from symptom checks to prescription fulfillment. The tool will support conversational interactions and assist DocMorris' roughly 11 million active users.

As part of the agreement, DocMorris will move its systems to Google Cloud. EU-based centers will process the data in accordance with regional privacy rules. The companies said the setup balances personalization with stricter handling of sensitive health data.

DocMorris CEO Walter Hess said the company selected Google to maintain control over data while meeting privacy and security standards, adding that the partnership will help deliver a more customized and secure patient experience.

Broader AI Strategy And Leadership Moves

The announcement comes as Google expands its artificial intelligence efforts. This includes continued development of Gemini models and leadership changes at DeepMind.

DeepMind CEO Demis Hassabis said on LinkedIn, "Super excited to be working with Jas to accelerate this important work at such a critical time for this technology."

Jasjeet Sekhon, who will join DeepMind as chief strategy officer, said, "I am joining Google DeepMind because I believe it is the frontier lab best positioned to develop AGI safely to empower humans."

GOOG Price Action: Alphabet Inc shares were down 0.45% at $305.51 during premarket trading on Wednesday, according to Benzinga Pro.

Elon Musk Says China Will Win The AI Race, But Here's Where SpaceX Will Win

Benzinga News — Thu, 19 Mar 2026 09:40:52 -0400

Tesla Inc. (TSLA ) and SpaceX CEO Elon Musk has shared that Alphabet Inc. (GOOGL ) (GOOG ) will win the AI race in the West, while China stands to win AI on Earth, days after claiming that his enterprises will exceed rivals in the development of the technology. Google Will Win AI In The West

On Thursday, Musk, in a response to user Bindu Reddy on X, who complained of issues with Google's Gemini 3.0 model, made his predictions. "Google will win the AI race in the West, China on Earth and SpaceX in space," he said in his response, positioning his company as the leader in the tech sector's orbital data center push.

Google's AI arm, DeepMind, has accelerated its development efforts, bringing in Jasjeet Sekhon as chief strategy officer. Sekhon was previously the chief scientist and head of AI at Bridgewater Associates.

Elon Musk On Chip Production

The CEO also outlined the challenges that artificial intelligence currently faces when responding to a user, who predicted that the price of AI hardware and compute will rise due to linear supply and an increase in demand.

"The limiting factor will shift from chips to energy on Earth," he said, predicting that AI's power demand would present challenges for the energy sector. However, Musk then shared that the limiting factor for the technology would revert "back to chips when space solar (star) power is unlocked."

Nvidia's Orbital Datacenter Goal, Tesla's Terafab

At the GTC 2026 event earlier this week, NVIDIA Corp (NVDA ) CEO Jensen Huang shared that the company was developing the Space-1 Vera Rubin Module chip, which, the CEO shared, was designed to carry out space-based AI compute.

Meanwhile, Musk reaffirmed Tesla's chip production goals, sharing that the company's Terafab project would begin operations shortly, targeting self-driving chips for the Full Self-Driving (FSD) technology and the Optimus humanoid robot.

Musk also outlined that Tesla's AI5 chip, which features a half reticle architecture, could see applications in data center training, but reaffirmed that it was primarily going to be used in Optimus and Tesla's FSD. The billionaire also shared that SpaceX and Tesla remained committed to sourcing chips from Nvidia despite the Terafab goal.

Trump Allegedly Told Larry Ellison 'I'll Make Sure You Get' Warner Bros, New Lawsuit Claims

Benzinga News — Thu, 19 Mar 2026 09:40:44 -0400

Anyone who has followed the saga that was Paramount Skydance (PSKY ) and Netflix Inc (NFLX ), both trying to win a deal to acquire Warner Bros. Discovery (WBD ), likely knows President Donald Trump has publicly shown his friendship with father and son Larry and David Ellison, two of the key Paramount figures.

A lawsuit against the Ellisons and Paramount shows an alleged personal guarantee from the president.

How Donald Trump is Involved in Lawsuit

A lawsuit from R.J. Cipriani filed this week against Paramount Skydance and Paramount adds to the headlines surrounding the high-profile acquisition battle for Warner Bros. Discovery that has also gotten members of Congress worked up.

Cipriani is a confidant of Paramount President Jeff Shell and previously filed a lawsuit against Shell this month. The update now sees Cipriani taking on both Ellisons, Paramount and other Paramount figures, as reported by Deadline.

"Paramount is aware of the frivolous lawsuit and believes the claims are entirely without merit," a Paramount spokesperson told Deadline. "There is no factual or legal basis for any claim against Paramount, its Directors or its major shareholders, and the Company intends to defend these allegations vigorously."

While the lawsuit doesn't target President Trump, it lays out several claims of the president's involvement in the merger.

Cipriani claims Trump gave a "direct personal assurance" to Larry Ellison in Paramount's bid for Warner Bros., something that was allegedly disclosed by Shell to Cipriani.

"Larry, it looks like Netflix is gonna get Warner Bros., but if you really, really want it, Larry, I'll make sure you get it," Trump allegedly said, according to the lawsuit.

Benzinga reached out to the White House for comment and did not hear back.

The lawsuit also alleges that Paramount Skydance decided to make "Rush Hour 4" after being pushed by the president, an item allegedly to have been part of the deal to get the Warner Bros. deal approved, according to The Hollywood Reporter.

Trump Administration Showed Support for Ellisons From The Start

Whether the comments in the lawsuit are true, Trump has publicly supported the Ellisons, calling them "good friends."

Trump has gone back and forth during the process of whether he would have a hands-on role in deciding who would get Warner Bros. and allowing the Department of Justice make a ruling.

Secretary of Defense Pete Hegseth recently called out Warner Bros.-owned cable network CNN as "fake news" and said, "the sooner David Ellison takes over that network, the better."

The comment suggests the support from the White House to have a Trump ally as the owner of a news network that isn't currently in favor with the president.

The Trump administration signaled support for Paramount in the war for Warner Bros. from the start.

"Who owns Warner Bros. Discovery is every important to the administration," a senior Trump administration official told the New York Post. "The Warner board needs to think very seriously not just on the price competition but which player in the suitor pool has been successful getting a deal done."

The senior administration official went on to say the best players in the suitor pool are "the Ellisons."

"Warner really needs to think really hard about the odds of success getting the deal cleared with players outside of Paramount Skydance."

The comments suggested that other bidders, like Netflix, could face regulatory hurdles if they chose to pursue an acquisition of Warner Bros. Discovery.

Paramount has been declared the winning bidder by Warner Bros. Discovery and now awaits approval from Trump's Department of Justice.

How Apple Is Winning China's Brutal Smartphone Price War

Benzinga News — Thu, 19 Mar 2026 09:40:37 -0400

China's smartphone sales fell 4% year over year in the first nine weeks of 2026, according to Counterpoint Research's China Weekly Smartphone Sell-Out Tracker. The decline reflects soft consumer demand and underwhelming Lunar New Year promotions.

Government subsidies introduced early in the year have had limited impact so far. While February promotions lifted sales from January levels, rising memory prices constrained discounts. As a result, sales during the holiday period and the preceding three weeks were still down 2% year over year.

Rising Memory Costs Drive Pricing Pressure

Higher memory costs are increasingly being passed through the supply chain. In response, OPPO and vivo have announced price increases for select existing models, effective March. The move also serves as a test of market sensitivity ahead of upcoming launches and will help guide pricing for next-generation devices. If demand weakens further, adjustments are expected.

Apple And Huawei Positioned To Gain Share

Apple Inc. (AAPL ) posted the strongest growth in the period, with sales rising 23% year over year, supported by e-commerce discounts and government subsidies for the base iPhone 17. With tighter supply chain control, Apple is better positioned to manage the current memory cost surge. Unlike Android peers, the company is unlikely to raise prices, opting instead to absorb some margin pressure to protect and potentially expand market share.

Huawei may also benefit. Its reliance on domestic suppliers offers a cost advantage, as local memory sourcing is typically cheaper than international alternatives. This positions Huawei to capture share, particularly in the low- to mid-end segment.

Outlook: Pressure To Continue Through Midyear

Looking ahead, China's smartphone market is expected to remain under pressure from March through May. A potential recovery could emerge in early June, driven by 618 shopping promotions. However, elevated memory prices are likely to persist throughout 2026, forcing OEMs to balance margins, pricing and shipment targets.

AAPL Price Action: Apple shares were up 0.52% at $251.25 during premarket trading on Thursday, according to Benzinga Pro data.

Uber CTO Says 95% Of Engineers Use AI Tools Monthly As Coding Shift Accelerates

Benzinga News — Thu, 19 Mar 2026 09:40:31 -0400

Uber Technologies Inc. (UBER ) is rapidly embracing artificial intelligence to transform how it builds software, with its CTO calling the shift a defining moment for the future of engineering. Uber Engineers Adopt AI Coding At Massive Scale

This week, Praveen Neppalli Naga said in a LinkedIn post that 95% of Uber's engineers now use AI tools every month, as the company leans heavily into AI-driven coding.

He described the transition as a "real reset moment for engineering," adding that Uber has "leaned in hard" to AI coding in recent months and that the "results have been phenomenal."

A major driver of this shift is agentic AI, which allows systems to complete tasks autonomously with minimal supervision. Instead of simply assisting developers, AI tools at Uber are now handling entire coding tasks.

According to Naga, Uber's internal AI coding agent is producing about 1,800 code changes per week entirely on its own. "There is zero human authoring," he said.

"Engineers review and approve, but the code is written entirely by AI agents."

The share of AI-generated code changes has grown from less than 1% to about 8%, reflecting rapid adoption across the company.

Uber CEO Predicts Robotaxis, Expands AI Jobs

Last month, Dara Khosrowshahi said he expected robotaxis to handle most Uber trips within 15 to 20 years as the company pushed into autonomous vehicle technology.

He noted scaling fleets required regulatory approval, advanced technology, and infrastructure, adding, "We don't operate in the virtual world, we operate in the physical world."

Khosrowshahi also criticized companies that merely talked about AI without changing operations, calling many strategies "play-acting" and focused on simple tasks.

He said true transformation required redesigning workflows rather than layering AI onto old systems.

Despite challenges, about 90% of companies planned to increase AI spending this year, signaling a shift from experimentation to broader deployment.

Last year, Uber expanded its platform beyond rides and deliveries, launching Digital Tasks to let users complete AI-related gigs, some requiring advanced degrees, with pay exceeding typical driver earnings.

The moves reflect Uber's strategy to integrate AI across operations, position itself as a leader in autonomous transportation, and offer high-paying AI work opportunities globally.

Powell Warns Oil Shock Could Test The Fed: These 7 Stocks Tumbled

Benzinga News — Thu, 19 Mar 2026 09:40:23 -0400

Federal Reserve Chair Jerome Powell on Wednesday warned that the escalating Middle East conflict will push U.S. inflation higher in the near term - but ruled out stagflation and described the U.S. economy as resilient.

Powell's remarks came after the Federal Open Market Committee held the federal funds rate unchanged at 3.50%-3.75% for the third consecutive meeting, as widely expected.

Middle East Crisis Front And Center

"The implications of developments in the Middle East for the U.S. economy are uncertain," Powell said in his opening statement.

"In the near term, higher energy prices will push up overall inflation. It is too soon to know the scope and duration of the potential effects on the economy."

He highlighted the traditional central bank approach of "looking through" energy shocks, but conditioned that option on inflation expectations remaining anchored - a threshold he acknowledged is less comfortable given years of above-target inflation.

"The question of looking through, when it does arise, will be one to approach not lightly, but in the context that inflation has been above target," Powell said.

He also highlighted the U.S.'s position as a net energy exporter, noting that higher oil prices would boost domestic drilling activity and corporate profits - providing some economic offset.

Yet, he cautioned that "the net of the oil shock will still be some downward pressure on spending and employment and upward pressure on inflation."

Rate Path: Cuts Still In Play, Hike Not Off The Table

The median SEP still projects the federal funds rate at 3.4% by the end of 2026 - implying roughly two quarter-point cuts - unchanged from December.

But Powell noted that "a meaningful amount of movement toward fewer cuts" occurred among participants, with several officials shifting from two cuts to one.

He confirmed that the possibility of a rate hike "did come up at the meeting," though the vast majority of participants do not see it as their base case.

Asked directly about stagflation, Powell firmly rejected the comparison. "I would reserve the term stagflation for a much more serious set of circumstances," he said. "That is not the situation we're in. What we have is some tension between the goals - we're trying to manage our way through it."

Market Reactions

U.S. equities extended session losses following the press conference, while oil pressed higher and gold tumbled on rising real yields.

S&P 500 - as tracked by the SPDR S&P 500 ETF Trust (SPY ) - fell 1.0% to 6,647, near session lows
Nasdaq 100 - as tracked by the Invesco QQQ Trust (QQQ ) - slipped 0.9% to 24,565
Dow Jones - as tracked by the SPDR Dow Jones Industrial Average ETF Trust (DIA ) - dropped 1.3% to 46,399
The 10-year Treasury yield rose 6 basis points to 4.26%, extending gains from 4.22% at midday as Powell's comments reinforced a higher-for-longer inflation outlook
Brent crude - as tracked by the United States Brent Oil Fund (BNO ) - gained 4.8% to $108.35, with WTI - as tracked by the United States Oil Fund (USO ) - adding 1.2% to $97.39
Natural gas - as tracked by the United States Natural Gas Fund (UNG ) - spiked 4.3% to $3.16.
Gold - as tracked by the SPDR Gold Shares (GLD ) - fell 2.9% to $4,857, its worst session in two weeks, pressured by rising real yields

These were the heaviest decliners among large-cap stocks in the last hour of trading, filtered to companies with a market cap above $10 billion, according to Benzinga Pro data.

Name% Change

HDFC Bank Ltd. (HDB )-3.99%

Williams-Sonoma Inc. (WSM )-3.00%

Western Digital Corp. (WDC )-2.83%

Akamai Technologies Inc. (AKAM )-2.77%

TTM Technologies Inc. (TTMI )-2.55%

Rocket Lab USA Inc. (RKLB )-2.38%

Nebius Group N.V. (NBIS )-2.32%

Market Update: Dow Plunges 750 Points on Hot Inflation, Steady Interest Rates

Rachel Hemple — Thu, 19 Mar 2026 09:28:14 -0400

Stocks fell on Wednesday after a hotter-than-expected inflation reading and the Federal Reserve's decision to hold interest rates broadly impacted investor sentiment.

The Dow Jones Industrial Average (DIA ) dropped nearly 770 points to end the session at 46,225.15, marking a new low for the year as the index closed below its 200-day moving average. The S&P 500 Index (SPY ) fell 1.4% and the Nasdaq Composite (QQQ ) lost about 1.5% to close at 6,624.70 and 22,152.42, respectively.

Deepening dour outlooks, the central bank voted 11-1 to hold the benchmark federal funds rate at its current range of 3.5% to 3.75% Wednesday afternoon, stating in a post-meeting statement that the "implications of developments in the Middle East for the U.S. economy are uncertain."

However, policymakers still signaled at least one rate cut this year and another in 2027, according to the Federal Open Market Committee's "dot plot."

Fed Chair Jerome Powell said in post-meeting remarks on Wednesday that inflation is not easing as quickly as the central bank hoped, adding that "the rate forecast is conditional on the performance of the economy, so if we don't see that progress, then you won't see the rate cut."

"Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East," Powell said. "In the near term, higher energy prices will push up overall inflation, but it is too soon to know the scope and duration of the potential effects on the economy."

Market sentiment was impacted earlier in the session as wholesale inflation came in hotter-than-expected in February, signaling that prices were already under pressure before the start of the United States-Iran war.

The producer price index rose 0.7% last month, the Bureau of Labor Statistics reported Wednesday, topping economists estimates and heightening stagflation concerns. Excluding food and energy costs, core PPI increased by a more-than-expected 0.5%, while also taking out trade services saw PPI rising by 0.5%.

On an annual basis, headline PPI rose 3.4%, while core jumped 3.9% in February -- coming in above the Fed's target of 2%.

Elsewhere, oil futures continued to climb higher on Wednesday after Iran threatened to target oil facilities in Saudi Arabia, the United Arab Emirates and Qatar. International benchmark Brent crude futures rose to $104 a barrel, while domestic gauge West Texas Intermediate increased to $98 a barrel.

President Donald Trump on Wednesday moved to suspend the Hones Act for 60 days in effort to stabilize oil, natural gas, fertilizer and coal prices, Press Secretary Karoline Leavitt said in a statement. The law requires that transport of goods between U.S. ports to be made by U.S. vessels and was intended to support the domestic shipping industry after World War I.

For Thursday, investors will turn their attention to key earnings reports from companies including Micron Technology (MU ), Alibaba (BABA ), and FedEx (FDX ).

Nvidia Targets $1 Trillion Revenue, Backed By Rubin And Groq Chips

Benzinga News — Wed, 18 Mar 2026 18:28:34 -0400

Needham analyst N. Quinn Bolton reiterated a Buy rating on Nvidia Corp (NVDA ) and a $240 price forecast.

Bolton said Nvidia's latest announcements at GTC reinforce its strong growth outlook, driven by sustained demand and expanding capabilities across AI infrastructure.

Strong Demand Supports $1T Revenue Target

Bolton highlighted that Nvidia's visibility and demand pipeline support its target of generating more than $1 trillion in revenue by 2027, primarily from its Blackwell and Rubin platforms. The analyst noted that this forecast excludes contributions from products such as Rubin Ultra, standalone CPUs, and Groq-related systems, which could provide additional upside. He also pointed to continued growth from both cloud providers and enterprise customers, with non-cloud segments expected to expand faster as AI adoption broadens.

Groq Strategy Expands Inference Capabilities

Bolton said Nvidia is extending its reach in the inference market through its Groq strategy, positioning the company to serve customers better by running large AI workloads. Nvidia plans to sell Groq chips alongside its Rubin systems, with shipments expected to begin shortly after Rubin production ramps this year. The analyst added that this segment, while niche, offers high growth potential and value, supported by improved performance and efficiency from newer systems.

Roadmap, Software And Ecosystem Drive Expansion

Bolton emphasized that Nvidia continues to evolve its product roadmap, including upcoming platforms like Rubin Ultra and future GPU and CPU combinations. He noted that next-generation systems will rely on a mix of connectivity technologies to support scaling needs. Beyond hardware, Nvidia introduced new software such as Dynamo, designed to improve performance and efficiency in AI operations, along with tools like NemoClaw and broader ecosystem initiatives to support open model development. The analyst also pointed to expanding partnerships in areas like autonomous vehicles and robotics, highlighting Nvidia's efforts to build a broader AI platform spanning multiple industries.

NVDA Price Action: Nvidia shares were up 0.33% at $182.53 at the time of publication on Wednesday, according to Benzinga Pro data.

Josh D'Amaro Takes The Helm At Disney, Analyst Sees Strong Potential

Benzinga News — Wed, 18 Mar 2026 18:28:27 -0400

Today marks a new chapter for Walt Disney Co's (DIS ) as Josh D'Amaro steps in as CEO, taking the reins from Bob Iger, who famously led the company twice - most recently from Nov. 20, 2022, to March 17, 2026.

Disney's Pivot Under New Leadership

Guggenheim Securities analyst Michael Morris says as D'Amaro takes the helm at Disney, the company faces the colossal task of reversing its recent market underperformance.

The analyst writes that Disney's rich portfolio of globally beloved brands, such as Marvel and Star Wars, positions it uniquely to leverage its content across new and existing platforms.

Morris sees several opportunities in the company to boost investor confidence.

This includes enhancing the regular cadence of high-quality content, improving transparency in its streaming and entertainment segments and optimizing its massive parks and resorts segment, adds the analyst.

Also, the analyst highlights the need for a more disciplined focus on profitable content over sheer volume, suggesting potential recalibrations in Disney strategy.

Capitalizing on Experiential Offerings

The analyst writes that Disney's parks and resorts offer untapped potential for growth, especially with D'Amaro's background in this segment.

The analyst expects Disney's ability to leverage its iconic brand will continue to attract investment interest, despite broader economic pressures.

Strategic Investments and Technological Enhancements

Beyond traditional media, the analyst expects Disney to push into new investment territories, including video games and AI technologies.

Morris points out the historical challenges Disney faced with technological integrations, but remains optimistic about the potential for these new ventures to contribute to Disney's bottom line.

This includes partnerships with entities like Epic Games and Sora AI, aiming to integrate these technologies to enhance consumer engagement and operational efficiencies, adds the analyst

DIS Price Action: Walt Disney shares are down 0.42% at $99.96 at publication on Wednesday.

Microsoft Unifies AI Division To End Copilot Confusion, Boost Growth

Benzinga News — Wed, 18 Mar 2026 18:28:22 -0400

Microsoft Corp (MSFT ) is reshaping its AI leadership as it seeks to streamline its product lineup and strengthen its position in the fast-growing AI market. New Leader To Oversee Copilot Business

The company promoted Jacob Andreou to lead its entire Copilot division, covering both consumer and enterprise products, with direct reporting to CEO Satya Nadella. Microsoft made the move to unify its AI offerings after feedback that multiple Copilot versions created confusion among customers and partners.

Suleyman Refocuses On Core AI Models

Microsoft reassigned Mustafa Suleyman to focus on developing advanced AI models, a key priority as the company works to build its own capabilities and reduce reliance on OpenAI. Nadella emphasized that progress in AI models will be critical to the company's long-term strategy.

Simplification Push During Competitive Pressure

The restructuring aims to consolidate Microsoft's AI efforts into a more integrated system, addressing concerns about fragmented products. The shift comes as Microsoft faces strong competition from rivals, with its Copilot tools still trailing leading AI platforms in user adoption.

Microsoft reported selling 15 million 365 Copilot subscriptions in its latest earnings (second-quarter of 2026), representing only a small portion of its more than 450 million commercial customers.

Its consumer Copilot app and website reach about 150 million monthly active users, significantly trailing Google's Gemini at 750 million monthly users and ChatGPT, which has around 900 million weekly active users.

Technical Analysis

Microsoft is trading 1.1% below its 20-day SMA and 14.1% below its 100-day SMA, keeping the intermediate trend pointed down even as the stock tries to base. Shares are up 3.25% over the past 12 months, but the current price is closer to the 52-week low than the 52-week high, suggesting the stock is still in recovery mode rather than in a fresh uptrend.

The RSI is at 42.38, which is neutral territory but tilted toward weaker momentum after the late-February oversold reading (RSI dipped below 30 on February 23). MACD is at -5.8770, while the signal line is at -7.6005, a bullish configuration (MACD above the signal line) that suggests downside pressure is easing, even though the trend remains heavy.

RSI in the 30-50 range with bullish MACD indicates momentum leaning bullish.

Key Resistance: $413
Key Support: $392.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (estimated) earnings report.

EPS Estimate: $4.07 (Up from $3.46 year-over-year)
Revenue Estimate: $81.37 Billion (Up from $70.07 Billion YoY)
Valuation: P/E of 25.0x (Suggests fair valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $602.43. Recent analyst moves include:

Stifel: Downgraded to Hold (Lowers target to $392 on Feb. 5)
Citigroup: Buy (Lowers target to $635 on Jan. 30)
Wedbush: Outperform (Lowers target to $575 on Jan. 29)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Microsoft, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Weak (Score: 19.92) - The stock's trend has lagged recently, lining up with its position below key moving averages.
Quality: Strong (Score: 89.66) - The business scores well on durability and fundamentals, which can help support longer-term investor interest during pullbacks.
Value: Weak (Score: 29.81) - Shares screen as relatively expensive versus many peers, which can limit upside when risk appetite is fading.

The Verdict: Microsoft's Benzinga Edge signal reveals a quality-led profile with weak momentum and a still-demanding valuation. For longer-term bulls, the setup improves if price can hold the $392.50 area and start reclaiming short-term averages; for bears, a clean break below support would reinforce the downtrend already confirmed by January's Death Cross.

Top ETF Exposure

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG ): 9.97% Weight
iShares Core S&P US Growth ETF (IUSG ): 9.55% Weight
iShares Expanded Tech-Software Sector ETF (IGV ): 9.70% Weight

Significance: Because Microsoft carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

MSFT Stock Price Activity: Microsoft shares were down 1.17% at $394.74 at the time of publication on Wednesday, according to Benzinga Pro data.

Boeing Seen Steady On Production, Defense Upside Despite Near-Term Margin Pressure, Says BofA Analyst

Benzinga News — Wed, 18 Mar 2026 18:28:01 -0400

BofA Securities reiterated its confidence in Boeing Co (BA ) on Wednesday.

The bank maintained a Buy rating and a $270 price forecast. This follows a fireside conversation with Boeing CFO Jay Malave at the BofA Global Industrials Conference in London.

Production Rates Hold Firm

Malave noted steady production performance across key programs. The company remains focused on internal safety and quality Key Performance Indicators (KPIs). On the 737 program, a recent wiring issue caused a modest cash flow impact.

"Twenty-five aircraft requiring three days of rework each," the note detailed. This shifts 10 deliveries from the first to the second quarter. Boeing still targets 120 units of 737 deliveries for the first quarter. It aims for approximately 500 total deliveries for 2026.

Spirit Integration Weighs on Margins

The integration of Spirit AeroSystems will impact near-term profitability. BofA expects Boeing Commercial Airplanes (BCA) margins at negative 8% this year. Previously, analysts expected flat or positive margins.

Management views these pressures as "transitory" in nature. Cost normalization should drive margins back to positive territory by 2027.

Certification Timelines Remain on Track

Certification for the 737-7, 737-10 and 777X stays on schedule. System-level testing should finish by mid-year.

The 777X remains aligned with a 2027 certification goal. Boeing plans long-term build rates of five aircraft per month for that wide-body program.

Defense Segment Shows Momentum

Malave highlighted opportunities in Boeing Defense, Space & Security (BDS) tied to anticipated growth in the U.S. defense budget.

Recent program reviews support "achievable assumptions" for the segment.

BA Stock Price Activity: Boeing shares were down 1.99% at $206.63 at the time of publication on Wednesday, according to Benzinga Pro data.

Apple Stock Is Already A Portfolio Staple — And This ETF Is Turning It Into A Casino Chip

Benzinga News — Wed, 18 Mar 2026 18:27:54 -0400

Apple Inc.'s (AAPL ) dominance in global markets has given rise to a rather peculiar investment enigma: millions of investors are already heavily invested in the iPhone maker, yet a round of ETFs is attempting to sell them even more Apple stock, albeit in the form of income-generating vehicles. Consider broad market funds such as the SPDR S&P 500 ETF Trust (SPY ) or technology-centric investments such as the Vanguard Information Technology ETF (VGT ). Apple is not merely a prominent holding in these funds; in many instances, it is the single largest holding, accounting for between 6% and 16% of the fund portfolios. Even diversified funds, such as the Vanguard Growth Index Fund ETF (VUG ), have double-digit exposure to Apple.

In all likelihood, investors are already invested in Apple, whether they wanted to or not.

Enter The 70% Yield Pitch

Now the twist. The YieldMax AAPL Option Income Strategy ETF (APLY ) offers a very different proposition: don't just hold Apple, but monetize Apple.

It employs synthetic leverage and options techniques like the sale of covered calls to generate income, which translates to its spectacular distribution yield of over 70%. It also offers weekly payouts to its investors, which is perfect for income-loving retail traders.

It is like having your cake and eating it too.

The Trade-Off Investors Can't Ignore

But as the saying goes, there's no free lunch.

Covered call writing techniques involve sacrificing the upside potential of the underlying stock. If the stock goes up, the shareholder can benefit from the full appreciation of the stock price. But funds like APLY forgo this advantage in exchange for income.

Furthermore, the fund has a high expense ratio of 1% and distribution costs that reduce its net asset value.

The end result? While the stock price of Apple has appreciated around 20% over the past year or so, the stock price of APLY has moved in the opposite direction by the same magnitude.

The Double Exposure Problem

But the thing is, it gets tricky when an investor holds these broad-based ETFs and APLY, as they may be inadvertently doubling down on the investment in Apple, once for growth and once for income.

This also raises the larger question of whether these products are truly providing portfolio diversification or whether they're simply concentrating risk in a more complex form.

For investors already holding broad ETFs, adding the APLY doesn't introduce diversification - it increases concentration.

Funds like the SPY and VGT already allocate a significant share to Apple. Layering APLY on top effectively stacks another Apple-linked position, just via options instead of equity.

The structure may look different, but the core exposure is the same. In fact, in some ways, risk is amplified. Investors are now tied not only to Apple's performance but also to the mechanics of options strategies, including capped upside and potential capital erosion.

Caterpillar's Secret Weapon: Data Centers Could Fuel A New Rally

Benzinga News — Wed, 18 Mar 2026 18:27:46 -0400

Caterpillar Inc. (CAT ) remains a top pick at BofA Securities, with analysts highlighting strong multi-year growth drivers.BofA Securities analyst Michael Feniger maintains a Buy rating on Caterpillar with a $825 price target, implying about 17.5% upside. He expects a sustained earnings recovery driven by both cyclical and structural tailwinds.

Power Demand and Data Center Opportunity

Feniger sees strong demand in power generation, particularly in small industrial turbines and reciprocating engines. Tight supply is pushing delivery timelines into late 2028 and early 2029.

He notes Caterpillar's competitive advantage in scale, emissions, and dealer network strength, especially in Western Canada. The region could emerge as a key data center hub due to its favorable climate, land, and access to gas.

He adds that a 1GW data center may require up to 400 engines, creating significant long-term service revenue opportunities.

Feniger also highlights mining trends, noting steady activity in Canada, brownfield opportunities in Chile and long-term greenfield potential in Argentina as reforms progress.

Valuation, Growth Drivers and Risks

Feniger values Caterpillar at 27.5x projected 2027 earnings, above historical averages, reflecting confidence in a multi-year upcycle.

He cites easing rates, improving commodity prices, infrastructure spending, higher mining and energy capex, and aging fleets as key drivers.

He also flags risks from tariff-related margin pressure, potential delays in customer spending, and pricing competition, but maintains a positive long-term outlook.

CAT Price Action: Caterpillar shares are trading 0.54% higher at $706.18 at publication on Wednesday.

Nvidia's Jensen Huang Wants To 'Die On The Job' Building A $20 Trillion Giant: 'That's My Dream Come True'

Benzinga News — Wed, 18 Mar 2026 18:27:36 -0400

Nvidia Corp. (NVDA ) CEO Jensen Huang laid out a roadmap for the company that transcends the traditional boundaries of the semiconductor industry. Huang, speaking from the GTC conference on March 17 with CNBC's Jim Cramer, signaled that he has no intention of slowing down, even as Nvidia's market cap reaches heights previously thought impossible.

A Vision Beyond the GPU

While the world knows Nvidia for its graphics chips, Huang clarified that the company's identity has shifted.

"Nvidia is today really an A.I. infrastructure company," Huang told CNBC.

By building "AI factories" that integrate GPUs, networking switches, and the new Vera CPU, Nvidia is positioning itself as critical to the global economy.

Huang dismissed concerns that the company's growth might be "tapped out," noting that they are creating opportunities far beyond hyperscalers like Google (GOOG ) (GOOGL ) and Amazon (AMZN ).

"It's probably difficult to understand how a company as large as we are could actually be accelerating growth," Huang admitted, but emphasized that the expansion into on-premise data centers and sovereign AI is just beginning.

The Rise of Agentic AI

One of the most striking revelations in the CNBC interview was the discussion of OpenClaw, an open-source project Huang believes will be as impactful as the original launch of generative AI.

The Next Frontier: "OpenClaw is as big of a deal as ChatGPT, no doubt," Huang stated.
Accessibility: He explained that "In one line of code, you could create for yourself your own agent," allowing anyone from carpenters to software engineers to become more productive.
The Goal: These agents, both digital and physical robots, will eventually perform tasks autonomously, reasoning through complex problems like designing a kitchen or writing software.

When Cramer asked if Nvidia could eventually become the world's first $20 trillion company, Huang didn't flinch.

Regarding his tenure and the company's valuation, Huang said, "That's my dream come true."

Despite the pressure and the energy required to power the AI factories, Huang remains tethered to the mission.

"You know, people ask me how long I'm going to work. I'm hoping to die on the job. And I'm not hoping to die any time soon," he told CNBC.

Macy's, Bloomingdale's Deliver Record Holiday Sales But Tariffs Hurt Margins

Benzinga News — Wed, 18 Mar 2026 18:27:17 -0400

Macy's Inc. (M ) shares are trading higher after the company reported better-than-expected fourth quarter financial results and issued guidance. Bloomingdale's Exceptional Performance

The department store reported fourth-quarter adjusted earnings of $1.67, beating the consensus of $1.53.

Sales decreased 1.7%2 to $7.6 billion, beating the consensus of $7.615 billion.

Comparable sales up 1.8%, reflecting positive comparable sales at each of the company's nameplates, exceeding the company's guidance.

Margins Impacted By Tariffs, In Line With Expectations

Gross margin of 35.2% decreased 50 basis points. The decline was primarily attributable to an approximately 60 basis point tariff impact, which was in line with the company's expectations.

The company said Bloomingdale's achieved its best holiday performance on record in the fourth quarter, as comparable sales rose 9.9%.

"Bloomingdale's exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses," said Tony Spring, chairman and CEO of Macy's.

Cautious Outlook Amid Macro And Geopolitical Uncertainty

The company flagged macroeconomic and geopolitical risks that could weigh on discretionary spending and is maintaining a cautious, flexible outlook.

Guidance assumes tariffs will have a heavier impact in the first half of the year-peaking in the first quarter-before easing in the second half.

It also incorporates planned investments in Reimagine 200 locations and luxury brands to drive long-term revenue growth, along with a lower level of store closures in fiscal 2025 versus 2024.

"Looking to 2026 and beyond, we are ready to build on our progress," Spring commented.

Macy's expects fiscal 2026 adjusted earnings of $1.90-$2.10 per share, compared to the consensus of $2.17.

The store operator forecasts 2026 annual sales of $21.4 billion-$21.65 billion compared to the consensus of $21.42 billion.

Macy's estimates first quarter earnings to range between a loss of 1 cent and earnings of 1 cent per share, compared to the consensus of 18 cents.

It expects sales of $4.575 billion-$4.625 billion compared to the consensus of $4.59 billion.

M Stock Price Activity: Macy's shares were up 5.02% at $17.77 at the time of publication on Wednesday, according to Benzinga Pro data.

Amazon Slashing USPS Shipments Could Cost Agency Billions In Revenue

Benzinga News — Wed, 18 Mar 2026 12:01:27 -0400

Amazon.com Inc. (AMZN ) is preparing to reshape its delivery strategy as it reassesses its reliance on the U.S. Postal Service ahead of a key contract deadline. Amazon Plans Major Shift Away From USPS

The company has started reducing the number of packages it hands off to USPS and aims to cut that volume by at least two-thirds before its current contract expires in October. The move comes as Amazon participates in a competitive bidding process for last-mile delivery services introduced by the Postal Service, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

Potential Impact On USPS And Delivery Network

USPS handled more than 1 billion Amazon packages last year, accounting for about 15% of its total U.S. parcel volume and playing a key role in supporting its network amid ongoing financial losses. While Amazon is expanding its own delivery capabilities, USPS remains important for reaching rural areas, where it handles 30% to 40% of Amazon's shipments.

Faster Delivery Push And Analyst Outlook

Alongside these changes, Amazon is expanding 1-hour and 3-hour delivery options to drive more frequent purchases, now offering over 90,000 items for rapid delivery in many areas. Bank of America Securities analyst Justin Post maintained a Buy rating with a $275 price forecast, citing continued market share gains, strong seller engagement, and the role of faster delivery, AI tools, and advertising in supporting Amazon's growth.

Technical Analysis

Amazon is trading 2.5% above its 20-day SMA, but 4.9% below its 100-day SMA, showing short-term stabilization while the intermediate trend still needs repair. Shares are up 11.61% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

The RSI is at 52.07, which keeps momentum in neutral territory rather than stretched in either direction. The MACD is at -1.8393, while the signal line is at -2.8866, a bullish configuration that suggests downside pressure is easing, even though the MACD remains below zero.

The combination of neutral RSI (around 50) and bullish MACD suggests mixed momentum.

Key Resistance: $220.50
Key Support: $202.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 30, 2026 (estimated) earnings report.

EPS Estimate: $1.66 (Up from $1.59 YoY)
Revenue Estimate: $177.20 Billion (Up from $155.70 Billion YoY)
Valuation: P/E of 30.0x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $287.76. Recent analyst moves include:

Needham: Buy (Maintains Target to $265.00) (March 17)
Wells Fargo: Overweight (Lowers Target to $304.00) (February 23)
Citigroup: Buy (Lowers Target to $265.00) (February 9)

AMZN Price Action: Amazon.com shares were up 0.38% at $216.01 during premarket trading on Wednesday, according to Benzinga Pro data.

TSMC Claims 72% Of Global Chip Market As AI Demand Hits Record Highs

Benzinga News — Wed, 18 Mar 2026 12:01:20 -0400

Taiwan Semiconductor Manufacturing Company Ltd (TSM ) stock trended on Wednesday as fresh industry data reinforced the company's leadership in the pure-play foundry market. TSMC Extends Lead In Foundry Market

Counterpoint Research said the pure-play foundry sector delivered strong growth, rising 20% year over year in the fourth quarter of 2025 and 26% for the full year, driven by sustained demand for AI Graphics Processing Units (GPUs), Application-Specific Integrated Circuits (ASICs), and accelerators on advanced nodes.

The firm noted that Taiwan Semiconductor retained a dominant 72% market share, supported by strong demand across advanced nodes and new technology rollouts. In comparison, Samsung held the second spot with a 7% share as it worked to improve yields and gain traction in newer processes. Semiconductor Manufacturing International Corporation ranked third with a 5.3% share, posting record quarterly revenue, driven by solid domestic demand and capacity expansion.

Outlook Signals Continued Growth Momentum

Looking ahead, Counterpoint expects higher utilization across both advanced and mature manufacturing segments, along with rising wafer prices, to further support industry revenue growth in 2026.

For Taiwan Semiconductor, this kind of dataset matters because it frames whether the company is defending (or expanding) its scale advantages as customers ramp advanced-node and AI-related orders.

The report's emphasis on "pure foundry" share is also a reminder that investors often treat Taiwan Semiconductor as the bellwether for outsourced chip manufacturing, where mix and capacity utilization can swing sentiment quickly.

Technical Analysis

TSM is trading 3.5% below its 20-day SMA but 8.1% above its 100-day SMA, keeping the longer-term trend constructive even as the stock digests recent gains. Shares are up 99.84% over the past 12 months and are closer to their 52-week highs than their lows, trading in a $134.25 to $390.20 range.

RSI is at 47.11, in neutral territory, suggesting momentum has cooled from the late-February push. MACD is at -2.1575 versus a signal line of 1.3900, a bearish configuration that points to softer trend pressure until the lines begin converging again.

With RSI below 50 and MACD bearish, the combined read is mixed momentum.

Key Resistance: $380.00
Key Support: $332.00

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 16, 2026 (estimated) earnings report.

EPS Estimate: $3.27 (Up from $2.12 YoY)
Revenue Estimate: $35.40 Billion (Up from $25.53 Billion YoY)
Valuation: P/E of 33.6x (Indicates premium valuation relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $401.67. Recent analyst moves include:

DA Davidson: Initiated with Buy (Target $450.00) (February 13)
Barclays: Overweight (Raises Target to $450.00) (January 16)
TD Cowen: Hold (Raises Target to $370.00) (January 16)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Taiwan Semiconductor Manufacturing, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Bullish (Score: 92.65) - The stock is showing strong relative strength versus the broader market, consistent with its powerful longer-term uptrend.
Quality: Bullish (Score: 98.37) - The score points to strong underlying business quality, which often supports premium valuations during market pullbacks.
Value: Weak (Score: 29.98) - The stock screens as expensive versus typical value factors, meaning buyers are paying up for leadership and execution.

The Verdict: Taiwan Semiconductor Manufacturing's Benzinga Edge signal reveals a momentum-and-quality-led profile, with a clear premium valuation trade-off. If the stock holds above the $332.00 support zone, the setup favors trend-followers; a break below it would put more weight on the bearish MACD signal and raise the odds of a deeper consolidation.

Top ETF Exposure

Invesco FTSE RAFI Emerging Markets ETF (PXH ): 6.23% Weight
Dan IVES Wedbush AI Revolution ETF (IVES ): 5.81% Weight
Harbor International Compounders ETF (OSEA ): 6.88% Weight

Significance: Because TSM carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

TSM Stock Price Activity: Taiwan shares are up just a bit, 0.06%, at $346.19 at the time of publication on Wednesday, according to Benzinga Pro data.

Robinhood CEO Vlad Tenev Touts 'Autonomous Mathematician' As Harmonic Unveils Aristotle Agent

Benzinga News — Wed, 18 Mar 2026 12:01:03 -0400

On Tuesday, Robinhood Markets Inc. (HOOD ) CEO Vlad Tenev highlighted a new AI system from his startup Harmonic that aims to independently solve advanced mathematical problems.

Harmonic AI, co-founded by Tenev, introduced "Aristotle Agent," which it describes as the "world's first autonomous mathematician" capable of tackling complex research problems without human intervention.

In a post on X, Tenev wrote, "Say hello to the world's first autonomous mathematician ... and he's free (for now)!"

The company says the system can interpret math problems written in plain English, convert them into formal proofs and work continuously for up to 24 hours without assistance.

Claims Top Performance In Formal Math

Harmonic said Aristotle Agent ranks No. 1 in formal mathematics on ProofBench, a benchmark developed by Vals AI, outperforming its closest competitor by 15%.

The AI is also designed to function as a fully "agentic" system, meaning it can independently generate proofs, edit files and operate within math-focused programming environments like Lean.

Built For Developers, Researchers

The startup added that Aristotle Agent produces "repo-quality" code, with some users already merging its contributions into projects without modification.

The tool is currently available across the web, command-line interface and API access, signaling Harmonic's push to attract both researchers and developers.

Backed By Major Investors

Founded in 2023 by Tenev and CEO Tudor Achim, Harmonic is pursuing what it calls "mathematical superintelligence."

The company has raised significant funding, including a $75 million Series A led by Sequoia Capital and a $100 million Series B that valued the startup at $875 million. In November 2025, the company secured $120 million in a Series C funding round, lifting its valuation to $1.45 billion.

American Airlines Declined Nearly 17% Since US-Iran War Began: How Did United, Delta Fair?

Benzinga News — Wed, 18 Mar 2026 12:00:37 -0400

U.S. flight operators like American Airlines Group Inc. (AAL ), Delta Air Lines Inc. (DAL ) and United Airlines Holdings Inc. (UAL ) recorded declines.

Since the war began, American Airlines declined 16.91% till Tuesday, according to Benzinga Pro Data. However, the stock managed to pick up 1.47% to $11.02 during Pre-market trading on Wednesday.

On the other hand, United declined 12.33% since the war kicked off. United currently trades for $94.46, surging 1.6% during pre-market on Wednesday. Before the war, UAL was trading at $106. However, United began surging on Tuesday.

Delta Airlines demonstrated the lowest decline, with 1.32% to $64.83 on Tuesday. However, Delta has almost recovered its decline, with the stock currently trading for $65.50 during pre-market on Wednesday. Delta was trading at $65.70 at market close before the war began.

Delta CEO Shares $400 Million Charge, American Airlines Predicts Growth

Delta CEO Ed Bastian shared that the ongoing U.S.-Iran war has resulted in over $400 million in additional charges for the airline due to surging jet fuel costs. The airline shared that its Q1 revenue growth would be in the high single digits. Delta's revenue was also up 25% YoY.

American Airlines, on the other hand, reported that it expects its first-quarter revenue to rise more than 10% YoY. American Airlines also reported that it expects its adjusted EPS loss to be in the lower end of its guidance of 10 cents to 50 cents per share.

US-Iran War Leads To Oil Price Surge

The war between the U.S. and Iran has entered its 19th day, with the war having a major impact on fuel costs across the globe throughout multiple sectors.

However, President Donald Trump has signaled that there could be an imminent withdrawal from the conflict on the horizon. Trump's top counterterrorism official, Joe Kent, recently resigned from his post in protest of the escalating tensions in the Middle East.

Trump's Golden Dome Cost Surges To $185 Billion As Space-Based Missile Defense Takes Center Stage

Benzinga News — Wed, 18 Mar 2026 12:00:32 -0400

President Donald Trump's Golden Dome missile defense system will now cost $185 billion, in what is a $10 billion surge from the earlier-touted cost of $175 billion.

New Prime Contractors

During the McAleese Defense Programs Conference in Arlington, Virginia, on Tuesday, the Golden Dome Program Director, Michael Guetlein, shared that the defense system would cost $185 billion and announced that defense companies like Lockheed Martin Corp (LMT ), RTX Corp (RTX ) and Northrop Grumman Corp (NOC ) had been signed on as prime contractors on the project.

Guetlein shared that the additional funding would enhance the system's Advanced Missile Tracking Initiative and the Hypersonic and Ballistic Tracking Space Sensor, both of which are space-based systems designed to track missiles. He also dismissed claims that the system would cost over $1 trillion.

Golden Dome's First Year

Unveiled last year, the system is modeled after Israel's "Iron Dome" system and combines ground-based defenses and orbital satellite capabilities to track and deter ballistic missile threats. Despite the ambitious goal, the plan has struggled to make headway amid concerns about the system's space-based technology, as well as China's progress.

Several companies were involved with the system, including Elon Musk's SpaceX, entrepreneur Peter Thiel's software company Palantir Technologies Inc. (PLTR ), drone manufacturer Anduril, as well as Boeing Co. (BA ). SpaceX and Palantir were also reportedly frontrunners for the project last year.

Meanwhile, Scalable Homeland Innovative Enterprise Layered Defense (SHIELD), a major contracting initiative worth $151 billion by the Missile Defense Agency (MDA), serves as a crucial element of the initiative and features a list of over 2,400 vendors.

L3 Harris' Missile Tracking

Elsewhere, defense manufacturer L3Harris Technologies Inc. (LHX ) had earlier said it can deploy over 45 hypersonic missile tracking satellites for the defense system. The company also partnered with Joby Aviation Inc. (JOBY ) to build hybrid military aircraft capable of crewed as well as autonomous operations.

Ukrainian Tech Startup Swarmer IPO Debut Reflects Investor Bets On AI-Driven Defense Systems

Benzinga News — Wed, 18 Mar 2026 12:00:05 -0400

Swarmer Inc. (SWMR ) on Monday priced its initial public offering at $5 per share, raising about $15 million, as the drone autonomy software company looks to scale operations and expand its product capabilities amid rising defense demand. The company offered 3 million shares, with proceeds earmarked for hiring, product development, integration with drone hardware manufacturers, and general corporate purposes.

Swarmer's technology was first deployed in combat operations in Ukraine in April 2024.

Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data.

With headquarters in Austin, Texas, Swarmer maintains operations and teams in Ukraine, Poland, and Estonia.

Swarmer Strong Recent IPO Debut

Shares of Swarmer soared dramatically in their market debut, jumping as much as 700% intraday before closing up 520% at $31, a Bloomberg report noted.

The rally triggered multiple volatility halts, including one shortly after trading began when the stock briefly dipped more than 10% before reversing sharply higher.

The performance marks one of the strongest IPO debuts in recent U.S. market history, drawing comparisons to Newsmax Inc. (NMAX ), which saw a similarly strong entry last year.

Defense Spending Tailwinds Boost Investor Interest In Swarmer

Bloomberg report further added that Swarmer's strong debut comes as investors increasingly focus on defense technology, particularly software-driven autonomous systems used in modern warfare.

The sector has gained traction amid rising geopolitical tensions and increased global military spending, with U.S. defense stocks extending gains into 2026 following a strong performance last year.

The growing emphasis on low-cost, unmanned systems has further accelerated interest in companies developing artificial intelligence-driven military solutions.

Pentagon Push For Kamikaze Drones

Adding to the momentum, the Pentagon is reportedly seeking to mass-produce a one-way attack drone known as Lucas, according to The Wall Street Journal.

The drone, modeled after Iran's Shahed systems, has already been deployed by the U.S. in the Middle East. The push underscores a broader shift toward scalable, cost-efficient weapons systems in modern conflicts.

Together, these developments highlight a rapidly evolving defense landscape-one where software, autonomy, and affordability are reshaping battlefield strategies and driving investor enthusiasm for companies like Swarmer.

SWMR Stock Price Activity: Swarmer shares were up 25.55% at $38.92 during premarket trading on Tuesday, according to Benzinga Pro data.

Nvidia CEO Jensen Huang Touts OpenClaw As 'Definitely' The Next ChatGPT

Benzinga News — Wed, 18 Mar 2026 11:59:53 -0400

NVIDIA Corporation (NVDA ) CEO Jensen Huang has acclaimed OpenClaw, a rapidly evolving AI project, as a revolutionary stride in the way humans interact with artificial intelligence. Huang, in a conversation with Jim Cramer of CNBC's Mad Money on Tuesday, on the sidelines of Nvidia's GTC event in California, extolled OpenClaw as "the largest, most popular, the most successful open-sourced project in the history of humanity." He further endorsed it as "definitely the next ChatGPT."

OpenClaw is an open-source autonomous AI agent platform that goes beyond traditional chatbots, enabling agents to perform tasks, make decisions, and take actions with minimal user input.

Huang said the technology marks a major shift, enabling users to create their own AI agents with a single line of code and deploy them for a wide range of tasks.

Notably, shares of Chinese 'AI Tigers' MiniMax and Knowledge Atlas Technology, also known as Zhipu, surged over 19% in Hong Kong on Wednesday, after Huang's comments on OpenClaw

Nvidia Brings Secure Layer To OpenClaw

NVIDIA has promptly leveraged OpenClaw's surge. The AI chip giant launched NemoClaw, an enterprise-grade version of OpenClaw, on Monday. This version integrates Nvidia's software stack and tools with the platform, aiming to make these potent AI agents secure, scalable, and ready for real-world applications.

Huang illustrated the concept with a real-world example of kitchen design, showing how an OpenClaw agent can analyze images, learn design tools, iterate on concepts, and refine its output-all autonomously.

However, the rise of autonomous AI agents like OpenClaw has sparked concerns over security, privacy, and control. NVIDIA aims to address these risks with NemoClaw by adding guardrails such as privacy protections, oversight tools, and enterprise-grade security-key to enabling safe, large-scale adoption of AI agents that can act independently.

At the same time, addressing Nvidia's ties with ChatGPT maker OpenAI, Huang suggested the company's latest $30 billion investment could be its last before the AI startup goes public.

SoFi Technologies Calls Muddy Waters Short Report 'Misleading'

Benzinga News — Wed, 18 Mar 2026 11:59:45 -0400

SoFi Technologies Inc (SOFI ) shares stabilized on Wednesday morning. The move follows a sharp rebuttal against Muddy Waters Research. The short-seller released a scathing report on Tuesday afternoon.

SoFi management characterized the claims as a "fundamental lack of understanding" of their business. The company also signaled intent to "explore potential legal action" against the firm.

Muddy Waters Alleges Accounting Red Flags

The conflict began Tuesday when Muddy Waters, led by Carson Block, labeled SoFi a "financial engineering treadmill."

The report alleged that SoFi's 2025 adjusted EBITDA was inflated by 90%. Muddy Waters suggested the true figure was $103 million rather than the reported $1.05 billion. The report also questioned loan charge-off rates and "Enron-esque" off-balance-sheet structures.

Allegations of Investor Deception

SoFi claimed the short-seller's report was "designed to deceive investors."

SoFi management pointed to Muddy Waters' own disclosures. The firm intended to cover short positions immediately after publication. "They stand to profit from their own misleading report," SoFi added.

Technical Analysis

SOFI is trading 5% below its 20-day simple moving average (SMA) and 29.5% below its 100-day SMA, keeping the intermediate trend pointed down even as the stock tries to base.

Shares are up 45.36% over the past 12 months, but they're currently positioned closer to their 52-week low of $8.60 than the 52-week high of $32.73.

The RSI is at 31.75, which sits in the lower end of neutral. Meanwhile, MACD is at -1.0767 versus a signal line of -1.1731.

Key Resistance: $18.50
Key Support: $17.00

SOFI Stock Price Activity: SoFi Technologies shares were up 1.90% at $17.70 during premarket trading on Wednesday, according to Benzinga Pro data.

Lululemon Stock Under Pressure From Founder Concerns, Weak Outlook

Benzinga News — Wed, 18 Mar 2026 11:58:56 -0400

Lululemon Athletica Inc. (LULU ) shares are down during Wednesday's premarket session following the company's recent earnings that fell short of analyst expectations for future guidance. Lululemon Guidance Disappoints

lululemon reported quarterly earnings of $5.01 per share, surpassing the consensus estimate of $4.79, while quarterly revenue reached $3.64 billion, exceeding analyst expectations of $3.59 billion.

However, the company's outlook for fiscal 2026 projected earnings between $12.10 and $12.30 per share, which is below the analyst estimate of $12.67, and revenue expectations of $11.35 billion to $11.5 billion also fell short of the $11.53 billion estimate.

Meghan Frank, Interim Co-CEO and CFO, commented on Tuesday, "As we begin our new fiscal year, we are focused on executing on our action plan, offering new and differentiated products to our guests, and elevating their experiences with Lululemon."

"Driving improvement in our full-price sales over the course of 2026 is also a key priority, particularly in North America, and will enable us to enhance our brand health and deliver long-term growth and value creation for shareholders," Frank added.

Board Expansion And Founder Concerns

lululemon on Tuesday appointed Chip Bergh, former CEO of Levi Strauss & Co., to its board, as founder Chip Wilson publicly pressed leadership for greater accountability ahead of the company's fourth-quarter and full-year 2025 results.

Discounting Strategy Raises Brand Concerns

Wilson, one of the company's largest shareholders, argued that lululemon continues to face a longstanding issue - a disconnect between its creative engine and the board's understanding of brand-building fundamentals.

A key concern highlighted by Wilson on Tuesday is the company's reliance on discounting to offset declining North America store performance.

Wilson also pointed to what he described as a "stale and predictable" product strategy, echoing prior remarks from Meghan Frank.

Operational Missteps

The founder further cited repeated product missteps, including issues tied to launches such as "Get Low" and "Breezethrough."

He urged the company to disclose lessons learned from unsuccessful category expansions, including jeans, cosmetics and running shoes, as part of rebuilding investor confidence.

Lululemon Analyst Consensus & Recent Actions:

The stock carries a Hold Rating with an average price target of $199.89. Recent analyst moves include:

Evercore ISI Group: In-Line (Lowers Target to $175.00) (Mar. 16)
BTIG: Buy (Lowers Target to $250.00) (Mar. 12)
Goldman Sachs: Neutral (Lowers Target to $184.00) (Mar. 11)

Benzinga Edge: Value 77.28, Momentum 9.16

Below is the Benzinga Edge scorecard for lululemon athletica, highlighting its strengths and weaknesses compared to the broader market:

Value: 77.28 - The stock is considered to have a strong value proposition relative to peers.
Quality: 12.81 - Indicates potential concerns regarding the company's quality metrics.
Momentum: 9.16 - Reflects weak momentum in the stock's performance.

The Verdict: Lululemon Athletica's Benzinga Edge signal reveals a mixed profile, with strong value metrics but weak momentum and quality scores, suggesting that while the stock may be undervalued, it faces challenges in maintaining performance momentum.

LULU Stock Price Activity: Lululemon Athletica shares were down 2.24% at $155.70 during premarket trading on Wednesday, according to Benzinga Pro data.

GameStop Declares PS3, Xbox 360 Retro Consoles And Launches A Trade-In Deal— A Bet That Nostalgia Can Fill Empty Stores?

Benzinga News — Tue, 17 Mar 2026 15:02:19 -0400

GameStop's (GME ) official "retro" classification of the PS3, Xbox 360, and Wii U reads like a joke. But it's also a deadline-driven trade-in push - part of a longer attempt to reposition a shrinking retail footprint around secondhand and legacy hardware. GameStop is encouraging customers to trade in their Wii U, Xbox 360, PlayStation 3, or any older consoles, games, or accessories by offering an additional 10% trade-in credit until March 31. The company is also accepting trade-ins of defective retro consoles.

The company jokingly mentioned that the decision was based on "careful analysis of multiple indicators," such as the presence of component cables, the absence of Fortnite, and the fact that these consoles were launched when George W. Bush was president.

Despite their new "retro" status, GameStop assures customers that these systems are still trendy and owning one does not make you "old."

Mixed Q3 Results, Stores Closures

GameStop has been struggling with its operations. The company reported third-quarter revenue of $821 million, missing analyst estimates of $987.3 million, but adjusted earnings of $0.24 per share beat the $0.20 estimate. Year-over-year, revenue fell 4.5%, with declines in hardware and software, while collectibles sales rose significantly.

In 2025, GameStop focused on cutting costs by closing stores, shutting 590 locations in the U.S., with nearly 500 more reportedly slated for closure. Challenges include declining foot traffic, rising store operating costs, and weaker consumer spending, compounded by the industry shift from physical games to digital downloads and streaming.

This move by GameStop comes amid a series of strategic decisions by the company's CEO, Ryan Cohen. Cohen has ambitious plans to transform GameStop into a $100 billion-plus giant, potentially through a significant acquisition in the consumer or retail sector. The retro classification of these consoles could be a part of this broader strategy to revamp GameStop's business model and reach.

GameStop Price Action: On a year-to-date basis, GameStop shares climbed 12.90%, as per Benzinga Pro. On Monday, it edged 0.04% higher at $23.28.