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Verizon Shares Take a Hit After Q1 Sales Warning
March 13, 2025
While speculation about what could be revealed runs high, especially around potential announcements like cutting capital gains to 0% for crypto held over a year, there’s little concrete information to back up these claims. The main point of interest seems to be whether Donald Trump will elaborate on the national strategic cryptocurrency reserve he mentioned last weekend, and whether it will include more than just bitcoin, as previously hinted. While there are reports that Commerce Secretary Howard Lutnick might unveil the reserve's model at the summit, no additional sources have confirmed these details.
The summit will be chaired by Trump’s "Crypto Czar," David Sacks, who will be leading discussions alongside some of the most influential figures in the crypto world. Among the confirmed attendees are Michael Saylor, CEO of StrategyMSTR, who proudly identifies as a "bitcoin maxi," and Brad Garlinghouse, the CEO of Ripple. Garlinghouse's comment that "maximalism is the enemy of the industry’s progress" has sparked some controversy, seemingly aimed at bitcoin purists. Zach Wikoff, co-founder of the Trump-linked World Liberty Financial, has also secured a seat at the table. These figures represent a mix of perspectives, but there is no shortage of big names from the crypto world.
Other notable invitees include Coinbase CEO Brian Armstrong, Kraken CEO Arjun Sethi, Chainlink co-founder Sergey Nazarov, Paradigm’s Matt Huang, and Multicoin Capital’s Kyle Samani. Additionally, Robinhood CEO Vlad Tenev teased a potential appearance with a cryptic post hinting at his presence, adding to the mystery surrounding the summit. While these names and potential announcements have everyone guessing, some insiders, like Ben James, founder of the Web3 platform 404, are hoping the summit will signal a shift toward clearer, innovation-friendly regulations that could help unlock the full potential of blockchain technology and drive sustainable growth in the crypto space.
As much as the buzz revolves around the key players and rumored announcements, many hope this summit will serve as a pivotal moment for the future of the cryptocurrency industry. With the right regulatory approach, crypto could take a major step toward becoming a foundational part of the digital economy.
According to a ruling seen by Reuters, the German court determined that Pfizer had violated Moderna’s patent, potentially obligating the company to compensate Moderna if the decision is upheld. While Pfizer has the option to appeal the ruling, the verdict has nonetheless given a boost to Moderna's stock.
This legal victory comes on the heels of another positive catalyst for Moderna, as the company recently disclosed $6 million in insider purchases. These factors combined have helped drive Moderna’s stock higher by nearly 16%. Despite this rally, Pfizer’s stock remained flat in the wake of the decision, signaling a stark contrast between the two companies' fortunes.
Moderna, which has struggled since the demand for its COVID-19 vaccine waned, is still heavily reliant on that vaccine for the majority of its revenue. Unlike Pfizer, which has a more diverse portfolio of products, Moderna’s pipeline has faced challenges in diversifying its offerings beyond the pandemic. However, this court ruling could offer a much-needed boost to the company’s financial outlook if it results in a compensation payout or a settlement from Pfizer.
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This temporary relief sparked a rally across several sectors, with the S&P 500 climbing 1.1%, the Nasdaq 100 gaining 1.4%, and the Russell 2000 rising by 1%. Notably, materials led the charge, while sectors like healthcare, communication services, technology, consumer discretionary, and industrials all saw gains of over 1%. However, energy and utilities were the only S&P 500 sectors that closed lower.
The auto sector, in particular, saw significant gains. General Motors (GM), Stellantis (STLA), and Ford (F) all surged more than 5%, reflecting investor optimism following the tariff delay. Similarly, airline stocks also benefited from the tariff reprieve, with JetBlue (JBLU), American Airlines (AAL), and United Airlines (UAL) all advancing by 5% or more. The policy tweak brought much-needed relief to these industries, which have been under pressure from tariff-related concerns.
In contrast, some stocks were negatively affected by other developments. Intel (INTC) dropped by 2.5% after President Trump called for the scrapping of the CHIPS Act during his address to Congress. On the other hand, Huntington Ingalls Industries (HII) saw a significant boost of 12.36%, benefiting from the president’s promise to revitalize the domestic shipbuilding industry.
Earnings season also contributed to some market movement. CrowdStrike (CRWD) fell 6.33% after its outlook for the year came in much worse than expected, while Campbell's (CPB) saw a 2.88% decline after cutting its guidance. Foot Locker (FL) rose 5.07% after exceeding earnings expectations, despite offering weaker guidance. Abercrombie & Fitch (ANF) tumbled nearly 9% after issuing a disappointing earnings outlook for the first quarter, even though its fourth-quarter results met Wall Street’s expectations.
Elsewhere, stocks like ChargePoint (CHPT) saw a notable gain of 8.48% following a strong earnings report, though the company faces policy headwinds in the EV sector. Moderna (MRNA) surged nearly 16% after insider purchases and a favorable court ruling in its patent dispute with Pfizer. Meanwhile, Palantir Technologies (PLTR) rose 6.78%, undeterred by CEO Alex Karp’s stock sales, and Chewy (CHWY) saw a 7.43% jump after positive comments from its CFO about the company’s position in the “premiumization” trend. Finally, Alibaba (BABA) soared 8.63% after China’s leadership emphasized boosting domestic consumption.
Goldman Sachs analysts have revised their estimates for Tesla's vehicle deliveries in the current quarter, predicting the company will deliver 50,000 to 60,000 fewer cars than previously expected. The new forecast calls for 375,000 deliveries, down from the earlier estimate of 400,000, citing factors such as the transition to the new Model Y and weaker demand in certain markets. This forecast is notably below the consensus estimates of 426,000 from Visible Alpha and 437,000 from FactSet. If Goldman Sachs' prediction holds true, Tesla's deliveries will actually show a year-on-year decline, as the company delivered around 387,000 vehicles in the same quarter last year.
Tesla has been facing challenges in its key markets, particularly in Europe and China, where sales have been declining. In the U.S., sales have been relatively flat, with a 13% drop in January followed by a 14% increase in February, according to data from Wards Intelligence. However, the company has seen a positive development in the UK, where sales have been growing, providing some relief amid the global slowdown. Tesla's management had previously forecast a return to growth in 2025 following a sales slump in 2024, but these revised projections from Goldman Sachs suggest that the company may be facing more obstacles than anticipated.
As a result of these concerns, Goldman Sachs has slightly reduced its price target for Tesla stock, lowering it from $345 to $320. The new target reflects the current challenges facing the company and the broader market conditions impacting its growth trajectory. Investors will be closely watching Tesla's next steps as it navigates these hurdles and works to regain momentum in its key markets.
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