Why PBF Energy Inc. (PBF) Soared on Monday
We recently published a list of Why These 10 Firms Soared on Monday. In this article, we are going to take a look at where PBF Energy Inc. (NYSE:PBF) stands against other Monday's best performers.
The stock market kicked off the trading week on a negative note as investors sold off on a new round of uncertainties from President Donald Trump's tariff policies.
The Nasdaq fell by 0.74 percent, while the S&P 500 dropped 0.64 percent and the Dow Jones was down by 0.24 percent.
Over the weekend, Trump told reporters that the US was negotiating with many countries, 'but at the end of this, I'll set my own deals — because I set the deal, they don't set the deal.'
He added that he had no intentions to talk with Chinese President Xi Jinping, dampening hopes of a potential negotiation between the two of the world's largest economies.
Beyond the major indices, 10 companies stood out with strong gains amid a flurry of fresh developments. In this article, we name Monday's 10 best performers and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
Why PBF Energy Inc. (PBF) Soared on Monday
Aerial view of an oil refinery, with smoke billowing from its chimneys.
PBF Energy Inc. (NYSE:PBF)
PBF Energy, an oil refining company, saw its share prices rally by 5.19 percent on Monday to end at $18.44 apiece as investors cheered the company's cost-saving measures to achieve profitability.
In its latest earnings release, PBF Energy Inc. (NYSE:PBF) said it expects to save more than $200 million of annualized, run-rate sustainable cost savings by year-end 2025.
'Since then, we have generated over 500 cost savings ideas through more than 40 idea generation sessions. Our teams are building out these ideas with actionable, quantifiable, and measurable plans,' the company said.
As a result of the ongoing measures, PBF Energy Inc. (NYSE:PBF) is now programming between $750 million and $775 million in capital expenditures. The amount excludes the costs to restore the fire damage to the Martinez Refinery last February.
In the first quarter of the year, PBF Energy Inc. (NYSE:PBF) swung to an attributable net loss of $401.8 million from a net income of $106.6 million in the same period last year. Revenues declined by 18 percent to $7.07 billion from $8.64 billion year-on-year.
Overall, PBF ranks 5th on our list of Monday's best performers. While we acknowledge the potential of PBF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PBF but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Oracle (ORCL) Unveils AI Upgrades to Utilities Platform to Streamline Operations and Cut Costs
We recently published a list of . In this article, we are going to take a look at where Oracle Corporation (NYSE:ORCL) stands against other buzzing AI stocks on latest news and ratings. On June 3rd, Oracle Corporation (NYSE:ORCL) unveiled AI-powered enhancements to the Oracle Utilities Customer Platform, helping deliver fast, accurate meter data management (MDM) and streamlining utility operations. The enhancements aim to simplify work for employees and improve performance across the platform, which powers metering, operations, and billing, sales and account management, customer service, and customer engagement, all in a single solution. A team of IT professionals meticulously crafting a large-scale enterprise performance management system. According to Oracle, the AI enhancements not only accelerate data processing speeds but also cut down operational costs and improve utility customer service. The Oracle Utilities Customer Platform integrates embedded AI and a unified data framework to help utility companies make smarter decisions using accurate meter readings. 'Globally, utilities have a multibillion-dollar opportunity to use AI to transform customer service and operations. With system complexity, costs, and customer needs all growing, it's getting difficult and expensive for many utilities to keep up. We're helping utilities tackle these challenges in ways just now becoming possible. By bringing AI and in-memory meter data processing into the Oracle Utilities Customer Platform, we're helping our clients streamline operations, cut costs, and deliver a more satisfying customer experience.' Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider. Overall, ORCL ranks 4th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of ORCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Micron (MU) Ships World's First 1-Gamma LPDDR5X to Power Faster, Smarter AI Smartphones
We recently published a list of . In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other buzzing AI stocks on latest news and ratings. On June 3rd, Micron Technology, Inc. (NASDAQ:MU) announced shipping of the world's first 1γ (1-gamma) node-based low-power double data rate 5X (LPDDR5X) memory. Known to be a game-changer for the mobile industry, it has the ability to accelerate AI applications on flagship smartphones. The Micron LPDDR5X delivers faster, smoother mobile experiences and longer battery life for users. This is true even when operating data-intensive workloads such as AI-powered translation or image generation. A close-up view of a computer motherboard with integrated semiconductor chips. Next-generation smartphone designs are competing to be as compact as possible, and the LPDDR5X package size boasts to be the industry's thinnest package of 0.61 millimeters. This makes it 6% thinner compared to competitive offerings, and marks a 14% height reduction from the previous generation. As such, Micron's latest offering offers users a whopping 20% power savings, offering users the ability to enjoy their favorite AI applications, games, and video content longer on a single charge. Moreover, data center servers, intelligent vehicles, and AI PCs may also adopt the LPDDR5X for achieving optimized power efficiency and high performance. 'Micron's 1-gamma node-based LPDDR5X memory is a game-changer for the mobile industry. This breakthrough technology delivers lightning-fast speeds and remarkable power efficiency — all within the industry's thinnest LPDDR5X package — paving the way for exciting new smartphone designs. This solution demonstrates our commitment to empowering the ecosystem to create extraordinary mobile experiences.' Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. Overall, MU ranks 5th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
17 minutes ago
Trump's tariffs could pay for his tax cuts -- but it likely wouldn't be much of a bargain
WASHINGTON -- WASHINGTON (AP) — The tax cuts in President Donald Trump's One Big Beautiful Bill Act would likely gouge a hole in the federal budget. The president has a patch handy, though: his sweeping import taxes — tariffs. The Congressional Budget Office, the government's nonpartisan arbiter of tax and spending matters, says the One Big Beautiful Bill, passed by the House last month and now under consideration in the Senate, would increase federal budget deficits by $2.4 trillion over the next decade. That is because its tax cuts would drain the government's coffers faster than its spending cuts would save money. By bringing in revenue for the Treasury, on the other hand, the tariffs that Trump announced through May 13 — including his so-called reciprocal levies of up to 50% on countries with which the United States has a trade deficit — would offset the budget impact of the tax-cut bill and reduce deficits over the next decade by $2.5 trillion. So it's basically a wash. That's the budget math anyway. The real answer is more complicated. Actually using tariffs to finance a big chunk of the federal government would be a painful and perilous undertaking, budget wonks say. 'It's a very dangerous way to try to raise revenue,' said Kent Smetters of the University of Pennsylvania's Penn Wharton Budget Model, who served in President George W. Bush's Treasury Department. Trump has long advocated tariffs as an economic elixir. He says they can protect American industries, bring factories back to the United States, give him leverage to win concessions over foreign governments — and raise a lot of money. He's even suggested that they could replace the federal income tax, which now brings in about half of federal revenue. 'It's possible we'll do a complete tax cut,'' he told reporters in April. 'I think the tariffs will be enough to cut all of the income tax.'' Economists and budget analysts do not share the president's enthusiasm for using tariffs to finance the government or to replace other taxes. 'It's a really bad trade,'' said Erica York, the Tax Foundation's vice president of federal tax policy. 'It's perhaps the dumbest tax reform you could design.'' For one thing, Trump's tariffs are an unstable source of revenue. He bypassed Congress and imposed his biggest import tax hikes through executive orders. That means a future president could simply reverse them. 'Or political whims in Congress could change, and they could decide, 'Hey, we're going revoke this authority because we don't think it's a good thing that the president can just unilaterally impose a $2 trillion tax hike,' '' York said. Or the courts could kill his tariffs before Congress or future presidents do. A federal court in New York has already struck down the centerpiece of his tariff program — the reciprocal and other levies he announced on what he called 'Liberation Day'' April 2 — saying he'd overstepped his authority. An appeals court has allowed the government to keep collecting the levies while the legal challenge winds its way through the court system. Economists also say that tariffs damage the economy. They are a tax on foreign products, paid by importers in the United States and usually passed along to their customers via higher prices. They raise costs for U.S. manufacturers that rely on imported raw materials, components and equipment, making them less competitive than foreign rivals that don't have to pay Trump's tariffs. Tariffs also invite retaliatory taxes on U.S. exports by foreign countries. Indeed, the European Union this week threatened 'countermeasures'' against Trump's unexpected move to raise his tariff on foreign steel and aluminum to 50%. 'You're not just getting the effect of a tax on the U.S. economy,' York said. 'You're also getting the effect of foreign taxes on U.S. exports.'' She said the tariffs will basically wipe out all economic benefits from the One Big Beautiful Bill's tax cuts. Smetters at the Penn Wharton Budget Model said that tariffs also isolate the United States and discourage foreigners from investing in its economy. Foreigners see U.S. Treasurys as a super-safe investment and now own about 30% of the federal government's debt. If they cut back, the federal government would have to pay higher interest rates on Treasury debt to attract a smaller number of potential investors domestically. Higher borrowing costs and reduced investment would wallop the economy, making tariffs the most economically destructive tax available, Smetters said — more than twice as costly in reduced economic growth and wages as what he sees as the next-most damaging: the tax on corporate earnings. Tariffs also hit the poor hardest. They end up being a tax on consumers, and the poor spend more of their income than wealthier people do. Even without the tariffs, the One Big Beautiful Bill slams the poorest because it makes deep cuts to federal food programs and to Medicaid, which provides health care to low-income Americans. After the bill's tax and spending cuts, an analysis by the Penn Wharton Budget Model found, the poorest fifth of American households earning less than $17,000 a year would see their incomes drop by $820 next year. The richest 0.1% earning more than $4.3 million a year would come out ahead by $390,070 in 2026. 'If you layer a regressive tax increase like tariffs on top of that, you make a lot of low- and middle-income households substantially worse off,'' said the Tax Foundation's York. Overall, she said, tariffs are 'a very unreliable source of revenue for the legal reasons, the political reasons as well as the economic reasons. They're a very, very inefficient way to raise revenue. If you raise a dollar of a revenue with tariffs, that's going to cause a lot more economic harm than raising revenue any other way.''
