Explore the latest in energy innovation, tech tariffs, financial dividends, healthcare trials, and more. Key updates from Marcellus Shale to Apple’s earnings, April 2025.
Market-Moving News 📈
Energy
Interior Secretary Burgum Visits Marcellus Shale Site to Spotlight American Energy Innovation
The American Exploration and Production Council (AEPC), alongside EQT Corporation, Halliburton, and Range Resources, has welcomed U.S. Interior Secretary Deb Haaland to a hydraulic fracturing site in Washington County, Pennsylvania. As Chair of the National Energy Dominance Council, Secretary Burgum’s visit underscored the importance of Pennsylvania’s Marcellus Shale in supporting America’s energy needs. The event spotlighted the role of domestic natural gas and modern technologies, like Halliburton’s Zeus® intelligent electric fracturing platform, in achieving both increased production and reduced emissions.
Energy leaders and policymakers emphasized the need for smart energy policies that empower domestic production while advancing sustainability. AXPC CEO Anne Bradbury and EQT President Toby Rice both highlighted how innovation in Appalachia contributes to national energy independence, economic growth, and lower costs for American families. Secretary Burgum’s visit within the administration’s first 100 days reflects growing recognition of Appalachia’s strategic energy value.
Executives from Halliburton and Range Resources pointed to decades of American ingenuity, job creation, and global leadership in energy development. The visit served as a call for continued collaboration between government and industry to ensure reliable, secure, and cleaner energy. Leaders stressed that sustained investment and supportive policies are critical to meeting rising energy demand at home and abroad, while also driving down emissions and supporting local communities.
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Financial Services
BAWAG Group Approves €5.50 Dividend Amid Record 2024 Performance; New Supervisory Board Elected
BAWAG Group shareholders have approved a €5.50 per share dividend for the 2024 financial year, with the payout scheduled for April 11, 2025, and ex-dividend day on April 8, 2025. At the Annual General Meeting, CEO Anas Abuzaakouk highlighted a record year with €760 million in net profit, earnings per share of €9.60, a return on tangible common equity (RoTCE) of 26%, and a cost-income ratio (CIR) of 33.5%. He also emphasized the Group’s strategic growth, including two key acquisitions that reshape its future outlook.
The AGM also saw the election of new members to the Supervisory Board, including Pat McClanahan, Kim Fennebresque, and others. Kim Fennebresque was appointed Chairman, succeeding Egbert Fleischer. In his remarks, Fennebresque expressed gratitude for the outgoing members and enthusiasm for the Board’s future direction. All AGM resolutions were approved, and BAWAG Group is set to announce its Q1 2025 results on April 29.
Healthcare
Sonnet BioTherapeutics Reports Promising Safety and Early Efficacy of SON-1010 in Ovarian Cancer Trial
Sonnet BioTherapeutics announced encouraging topline safety data from the Phase 1b/2a SB221 study evaluating its immunotherapy candidate SON-1010 (an extended half-life version of IL-12) in combination with the immune checkpoint inhibitor atezolizumab (Tecentriq®) in patients with advanced solid tumors, including platinum-resistant ovarian cancer (PROC). The maximum tolerated dose (MTD) was established at 1200 ng/kg with no dose-limiting toxicities or cytokine release syndrome. Common side effects were manageable, including fatigue, fevers, and gastrointestinal symptoms.
Early signs of clinical benefit were observed: 33% of evaluable patients had stable disease (SD) at four months, and one patient with PROC experienced a partial response (PR) with a 44% tumor size reduction and a more than twofold drop in the CA 125 biomarker. The encouraging PR at the MTD suggests a potential synergistic effect of SON-1010 with atezolizumab, particularly in immunologically “cold” tumors such as ovarian cancer. SON-1010’s novel design—fused with Sonnet’s FHAB® platform to extend IL-12’s half-life—may offer a safer and more effective way to harness IL-12’s antitumor potential.
The study will now progress into its expansion phase, evaluating the efficacy of the drug combination at the established MTD before moving into a randomized Phase 2a trial. With promising early outcomes and a manageable safety profile, Sonnet is actively exploring partnership opportunities to support further development of SON-1010.
Industrials
EU Weighs Response as France Slams Unprecedented U.S. Tariffs
During a visit to Airbus’ Toulouse headquarters, France’s Industry Minister Marc Ferracci condemned the latest U.S. tariffs introduced by President Trump, calling them the most severe since the 1930s. He warned that such measures could destabilize the global economy and lead to job losses. While Ferracci emphasized that Europe remains open to negotiations, he also advocated for a proportionate and firm response.
Airbus CEO Guillaume Faury stated the company is still evaluating how to respond to the tariffs. When asked about potential EU retaliation — including the possibility of imposing tariffs on Boeing aircraft — Ferracci noted that any decisions on countermeasures would be made in the coming week, signaling that tensions between the U.S. and EU may soon escalate further.
Tech
Apple’s Earnings at Risk Amid Tariff Concerns
Apple’s fiscal 2025 earnings per share could see a sharp 28% decline, or $2 per share, if the company doesn’t secure a tariff exemption under the proposed Liberation Day trade policy. Needham analysts project a decrease in earnings from $7.32 to $5.27 per share, assuming Apple absorbs higher tariffs on China and India-made products. Despite these potential challenges, Apple’s Services segment is expected to remain unaffected by the tariffs.
This projection doesn’t account for a worst-case scenario where China retaliates, possibly banning Apple products, which could further harm its earnings. The stock took a significant hit, dropping 9% on Thursday and another 4% in pre-market trading on Friday, losing nearly $300 billion in market value. Needham estimates a 30% chance Apple will receive a tariff exemption, supported by past precedents and its global brand influence.
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Real Estate
Guaranteed Rate Affinity Appoints Lynne Haney as Vice President of Mortgage Lending
Guaranteed Rate Affinity has appointed Lynne Haney as its new Vice President of Mortgage Lending. With over 35 years of experience in the mortgage industry, Haney brings extensive expertise and a service-first approach to her new role. She is committed to making the homebuying process seamless and enjoyable, while also giving back to her community by donating to local charities for every loan she closes.
Throughout her career, Haney has been recognized for her outstanding performance, including being named among the Top 1% of originators nationwide by Mortgage Executive Magazine in 2020. She has also held leadership roles with several organizations, including the Capital Region and Sunapee Region Boards of REALTORS® and America’s Credit Union Museum, where she chaired the Financial Literacy Education Committee.
Her appointment aligns with Guaranteed Rate Affinity’s goal to expand its market presence and continue providing exceptional service to borrowers and real estate partners. Scott Throneberry, Executive Vice President of National Sales, expressed confidence that Haney’s leadership would drive the company’s growth and enhance the client experience.
Mining & Metals
American Battery Technology Achieves Major Milestone in Lithium-Ion Battery Recycling
American Battery Technology (ABAT) has successfully doubled its production of recycled lithium-ion battery materials at its commercial-scale recycling facility for the quarter ending March 31, 2025. Transitioning from the commissioning phase to 24/7 operations, the company has made significant advancements, including sourcing recurring shipments of large-scale batteries from automotive OEMs and producing commercial quantities of low-impurity intermediate black mass material.
The production of this high-quality black mass has led to favorable selling prices and positions ABTC to move into processing its own materials for high-purity critical battery metals. The company aims to further enhance production quality, scale operations, and implement sustainable practices in its facility to achieve greater efficiencies in the future.
Consumer Defensive
Walmart Faces Price Hikes Due to Trump’s Tariffs, Consumers at Risk of Higher Costs
Walmart is facing price hikes from suppliers as a result of President Donald Trump’s tariffs, raising concerns that consumers may be unfairly impacted by potential price gouging. As suppliers pass on tariff-related costs, there is uncertainty over whether price increases are justified or excessive. The retail giant, which has previously pressured suppliers to absorb these costs, is now grappling with the financial strain caused by rising costs, despite efforts to avoid passing them on to consumers.
The situation is further complicated by Walmart’s global supply chain and its operations in mainland China, which have been hit by tariffs. While Walmart’s CEO has acknowledged that high food prices are already affecting lower-income consumers, it remains unclear how much of the cost burden will be passed onto shoppers. Retailers, including Walmart, Costco, and Target, are all facing similar challenges, and consumers may soon see higher prices on everyday items like produce and seafood.
Communication
Meta Cuts Contract with Telus, Leading to 2,000 Job Losses at Barcelona Content Moderation Center
Telus, a Canadian tech company, has placed up to 2,000 workers at its content moderation center in Barcelona on gardening leave after Meta Platforms, Facebook’s parent company, severed its contract. The workers were notified that the client had suspended services, although Meta was not explicitly named in the email. Local unions confirmed Meta as the client, stating that the workers had been moderating content for the platform.
Meta, in response, clarified that the services previously managed in Barcelona have been relocated to other sites and emphasized that its content review efforts remain unchanged. This move is part of a broader shift as Meta continues to diversify its content moderation operations to other locations. Telus has committed to supporting the affected employees during negotiations with unions regarding severance.
The Barcelona center, located in the Glories tower, provided content moderation in several languages, including Catalan, Dutch, and Spanish. Employees were placed on paid leave while Telus negotiates terms with the unions. Other content moderation facilities in countries like Bulgaria, Colombia, and Portugal were also involved in supporting the operations in Barcelona, though some of these are managed by third-party companies.
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Duke Energy Restores Power to 98% of Customers in Indiana After Storm
Duke Energy has successfully restored power to over 98% of its customers in Indiana, following severe storms on Wednesday, which caused significant outages. The number of storm-related outages dropped from nearly 97,000 to approximately 1,000 by Friday morning. Restoration efforts are ongoing, particularly in Clark and Floyd counties, the areas most affected by high winds, tornadoes, and rainfall.
The company prioritized repairing major power lines and essential services like hospitals and water facilities before focusing on individual neighborhoods. Clint Carnahan, Duke Energy’s general manager of emergency preparedness, emphasized the importance of completing the restoration safely and efficiently.
Duke Energy continues to monitor the situation for any potential new outages and advises customers to remain vigilant. The company provides various ways for customers to report outages and check restoration status, including through their mobile app, website, or automated system.
Everything Else:
- China Retaliates with Tariffs
- Nasdaq Enters Bear Market
- Federal Reserve’s Response to Tariffs
- Oil Prices Reach Four-Year Low
- Recession Fears Intensify
- Investors Shift to Money Market Funds
- European Markets Also Hit
- Homebuilder Stocks Gain Amid Lower Interest Rates
- Boeing Shares Plummet
- President Trump Remains Optimistic Amid Market Decline
That’s all for today. Thank you for reading.
FAQ: Top Industry Updates – April 2025
Why did Interior Secretary Burgum visit the Marcellus Shale site?
Secretary Burgum visited a hydraulic fracturing site in Pennsylvania to highlight the Marcellus Shale’s role in American energy innovation, emphasizing natural gas production and sustainable technologies like Halliburton’s Zeus® platform.
What was the key message from energy leaders during the visit?
Leaders stressed the need for smart policies to boost domestic energy production, support economic growth, and reduce emissions while meeting rising demand.
What dividend did BAWAG Group approve for 2024?
BAWAG Group approved a €5.50 per share dividend, payable on April 11, 2025, following a record year with €760 million in net profit.
Who was elected as the new Chairman of BAWAG’s Supervisory Board?
Kim Fennebresque was appointed Chairman, succeeding Egbert Fleischer, during the Annual General Meeting.
What are the results of Sonnet BioTherapeutics’ SON-1010 trial?
The Phase 1b/2a study showed SON-1010 is safe at 1200 ng/kg, with 33% of patients achieving stable disease and one ovarian cancer patient experiencing a 44% tumor reduction.
What’s next for SON-1010 after the trial results?
The study will move to an expansion phase to test efficacy at the maximum tolerated dose, followed by a randomized Phase 2a trial.
Why is France upset about U.S. tariffs?
France’s Industry Minister called the new U.S. tariffs, introduced by President Trump, the most severe since the 1930s, warning of economic instability and job losses.
How might the EU respond to these tariffs?
The EU is considering a firm response, potentially including tariffs on Boeing aircraft, with decisions expected within a week.
How could tariffs affect Apple’s earnings?
Apple’s 2025 earnings could drop 28% ($2 per share) if it doesn’t secure a tariff exemption, though its Services segment would remain unaffected.
What happens if China retaliates against Apple?
A worst-case scenario, like a ban on Apple products in China, could further damage earnings, but this wasn’t factored into current projections.
Who is Lynne Haney, and what’s her new role?
Lynne Haney, with over 35 years in the mortgage industry, is the new Vice President of Mortgage Lending at Guaranteed Rate Affinity, focusing on seamless homebuying.
What makes Lynne Haney stand out in her career?
She’s been named among the Top 1% of originators nationwide and donates to charities for every loan closed, showcasing her service-first approach.
What milestone did American Battery Technology achieve?
The company doubled its production of recycled lithium-ion battery materials for the quarter ending March 31, 2025, at its commercial facility.
What’s the next step for American Battery Technology?
It plans to process its own high-purity battery metals from the high-quality black mass it produces, enhancing sustainability and efficiency.
Why are Walmart prices increasing?
Suppliers are raising prices due to Trump’s tariffs, and Walmart may pass some costs to consumers, though it’s trying to avoid this.
Which products might see price hikes at Walmart?
Everyday items like produce and seafood could become more expensive due to tariff-related cost increases.
Why did 2,000 workers lose jobs at Telus in Barcelona?
Meta ended its contract with Telus, leading to the suspension of content moderation services at the Barcelona center.
What is Meta doing after cutting the Telus contract?
Meta relocated the content moderation services to other sites, maintaining its review efforts without disruption.
How many customers got power back after the Indiana storm?
Duke Energy restored power to over 98% of customers, reducing outages from 97,000 to about 1,000 by Friday morning.
Which areas were hit hardest by the storm?
Clark and Floyd counties in Indiana were the most affected, with ongoing restoration efforts focused there.
What’s the current date of these updates?
These updates are current as of April 4, 2025.
What are some broader impacts mentioned in the text?
Topics like tariffs, market declines, and recession fears are noted, alongside specific industry developments in energy, tech, and healthcare.
