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Car Rental Business Extends Gains, Jumps 40%
Adam Garcia
April 17, 2025
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today.
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Markets 📈
U.S. indices were mixed on Thursday, as ongoing tariff uncertainty kept investors undecided. The S&P 500 was able to recover some of yesterday’s losses, but only slightly.
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Market-Moving News 📈
Energy
Valero Reviews California Refinery's Future Following $1.1B Hit
Valero Energy Corporation (NYSE: VLO) reported a $1.1 billion pre-tax impairment tied to its California refining operations and disclosed plans to shut down its Benicia refinery by April 2026. The facility, located near San Francisco, processes 145,000 barrels of crude per day, according to the U.S. Energy Information Administration.
Directors cited growing regulatory and cost pressures in California as a central factor in the review. The company also confirmed that it is evaluating strategic options for its Los Angeles refinery, which has a daily throughput capacity of 91,300 barrels.
Operations at both sites remain under scrutiny as state-level emissions targets and fuel transparency rules reshape the refining landscape. Valero communicated the Benicia closure timeline to California regulators, noting that a final decision had not been made.
Refineries across the state continue to exit or repurpose assets. Six facilities have closed since 2008, with some shifting to renewable fuel production. Valero's disclosure follows similar moves by Phillips 66, which previously announced plans to exit its Los Angeles refinery operations.
California's infrastructure limitations contribute to regional pricing volatility. The state lacks access to Gulf or Midwest refining centers via pipelines and relies heavily on West Coast production and imports.
Valero continues to assess long-term operational strategy in response to market conditions and state-level regulation.
Radical Vision (Sponsored)
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One Boston-based think tank – who has studied Elon’s work for decades – is stepping forward to share what they’ve found.
They believe his TRUE plan is far more radical than anyone realizes. It could change the way you live, work, get paid, and collect Social Security…
Financial Services
Global Payments Buys Worldpay, Exits Issuer Business in $13.5B Sale
Global Payments (NYSE: GPN) announced a definitive agreement to acquire Worldpay in a deal valued at more than $24 billion. The company will divest its Issuer Solutions unit to Fidelity National Information Services (FIS) for $13.5 billion as part of the transaction.
The acquisition significantly expands Global Payments’ merchant services portfolio, bringing the company’s reach to over 6 million customers across 175 countries and increasing annual payment volume capabilities to $3.7 trillion.
Through the divestiture, Global Payments exits the issuer processing space to focus entirely on direct merchant services and digital payments infrastructure. FIS, the prior owner of Worldpay, will regain a strategic asset through the issuer deal while Global Payments consolidates its position in acquiring merchant-facing payment technologies.
To fund the Worldpay acquisition, Global Payments secured bridge financing and intends to issue $7.7 billion in debt to replace that facility and refinance Worldpay’s existing obligations.
This transaction reflects a broader reshaping of the company’s core focus areas. Executives framed the dual move as a realignment aimed at driving growth through global merchant services and scalable infrastructure.
Global Payments anticipates that the acquisition and divestiture will close in the second half of 2025, subject to receipt of regulatory approvals and fulfillment of customary closing conditions.
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Pharmaceutical
Eli Lilly Advances Pill-Based Obesity Treatment With Promising Oral GLP-1 Results
Eli Lilly (NYSE: LLY) reported new clinical trial results showing that oral weight-loss orforglipron achieved comparable outcomes to leading injectable treatments. The late-stage trial evaluated body weight and blood sugar reductions in patients with type 2 diabetes over a 40-week period.
Participants receiving orforglipron experienced meaningful weight loss across multiple doses. The company also noted consistent reductions in blood sugar levels and confirmed the trial met key safety expectations. No liver-related safety signals emerged, and reported side effects remained within tolerable limits.
The development of orforglipron reflects Lilly’s broader effort to expand its obesity treatment portfolio beyond injectable formats. The pill targets the GLP-1 receptor pathway, which has gained significant market attention for managing weight and glucose levels.
Manufacturing and supply planning are already underway. Lilly stated that orforglipron, a small-molecule drug, offers simplified production compared to biologic therapies and could support broader access if approved.
The company continues to conduct additional trials on orforglipron, including research focused on weight management in non-diabetic patients. Regulatory filings for obesity and diabetes indications are expected to begin next year.
Top Winners and Losers 🔥
Hertz Global Holdings Inc [HTZ] $5.71 (+56.44%)
Hertz Global extended its rally on the news that Bill Ackman’s hedge fund, Pershing Square, had a bigger stake in the firm than previously known.
Uniqure N.V. [QURE] $16.83 (+33.89%)
Uniqure N.V. turned bullish after the FDA granted Breakthrough Therapy designation to its AMT-130 gene therapy for Huntington’s disease.
Eli Lilly and Company [LLY] $15.66 (+15.83%)
Eli Lilly surged today after announcing that its new weight loss pill had demonstrated statistically significant efficacy results in a Phase 3 trial.
Janover Inc [JNVR] $10.98 (-16.82%)
Janover was among the biggest losers today as investors took a breather after the stock skyrocketed over 1,700% on Tuesday’s record high.
UnitedHealth Group Inc [UNH] $11.35 (-11.81%)
UnitedHealth Group experienced its largest daily drop in over 25 years after missing Q1 earnings and revenue estimates.
Manpower Inc [MAN] $157.90 (-8.95%)
Manpower plummeted to its lowest level since 2012 after posting lower-than-expected Q1 results.
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Next-Gen Consumer Brands (Sponsored)
Monster Beverage shocked the market with a 137,100% return—beating Amazon, Apple, and even Tesla.
It’s not just another energy drink. This one’s infused with nootropics designed to support focus, clarity, and mood—exactly what today’s health-conscious consumers are demanding.
And the company behind it just brought on Orangetheory Fitness co-founder David Long as a board member. That kind of leadership rarely comes without serious conviction.
With a unique product, a booming category, and a proven industry heavyweight backing the mission, this could be the next beverage breakout story.
That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!
Thanks for reading. I'll see you at the next open!
Best Regards,
— Adam G.
Elite Trade Club
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