Jonathan Raa | Nurphoto | Getty ImagesNick Pinto is a marketing director at his family’s law firm in New Jersey. He’s also a crypto trader who spent enough money on Donald Trump’s meme coin to win a spot at a private black-tie dinner with the president scheduled for Thursday night.”I was kind of early in bitcoin and ethereum, so I’ve always been trading crypto,” the 25-year-old Pinto said, adding that he finished number 72 on the leaderboard for the token contest. “Once I saw the announcement that Trump was releasing a coin, I immediately started to purchase it.”Pinto said in…
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In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty ImagesAnthropic, the Amazon-backed OpenAI rival, on Thursday launched its most powerful group of artificial intelligence models yet: Claude 4.The company said the two models, called Claude Opus 4 and Claude Sonnet 4, are defining a “new standard” when it comes to AI agents and “can analyze thousands of data sources, execute long-running tasks, write human-quality content, and perform complex actions,” per a release.Anthropic, founded by former OpenAI…
Check out the companies making headlines in extended trading. Ross Stores — Shares pulled back more than 11%. Ross withdrew its earlier full-year guidance . The off-price retailer said that it expects second-quarter earnings to range from $1.40 to $1.55 per share, while analysts polled by LSEG sought $1.65 per share. Ross also said that it expects pressure on its profitability if tariffs remain at elevated levels. AutoDesk — Shares gained more than 2% after the software company issued a higher-than-expected second-quarter outlook. AutoDesk forecast adjusted earnings in the current quarter in the range of $2.44 to $2.48 per share…
CNBC’s Eamon Javers joins ‘Fast Money’ with breaking news from the Supreme Court. Source link
Bottles of Pepsi are displayed in a store in New York City on March 17, 2025.Spencer Platt | Getty ImagesThe U.S. Federal Trade Commission on Thursday dropped its case accusing PepsiCo of price discrimination that favored Walmart, and criticized former Chair Lina Khan for rushing the case out.The lawsuit filed in New York had accused the soft drink manufacturer of violating the Robinson-Patman Act. Source link
The U.S. Supreme Court building in Washington, July 19, 2024.Kevin Mohatt | ReutersThe Supreme Court on Thursday strongly suggested that Federal Reserve board members would have special protection against being fired by a president in a ruling that, for now, allows President Donald Trump to fire two members of other federal agencies’ boards.The Supreme Court in its ruling said, “We disagree” with arguments by Gwynne Wilcox of the National Labor Relations Board and Cathy Harris from Merit Systems Protection Board that their challenges to their terminations “necessarily implicate the constitutionality of for-cause removal protections for members of the Federal Reserve’s…
OpenAI is betting a new “era” of computing will justify the company’s decision to spend billions of dollars on bespoke hardware to go with it, Chief Financial Officer Sarah Friar said. The artificial intelligence startup, best known for the ChatGPT chatbot, announced plans on Wednesday to buy iPhone designer Jony Ive’s devices startup io for about $6.4 billion. Ive’s company was founded roughly a year ago and doesn’t have a product on the market.Friar told CNBC on Thursday that any startup as young as io was “hard to value.” But she sees an eventual return on that investment.”You’re really betting…
Markets stabilized on Thursday after the dual sell-off in stocks and bonds, but a key corner of the equity market is blinking a caution light on the economy. The Dow Jones Transportation Average is headed for a losing week and has fallen back below its pre-April 2 Liberation Day levels. JB Hunt Transport Services and C.H. Robinson Worldwide have both dropped for four straight sessions. The performance of transportation stocks is often seen as a harbinger of the U.S. economy as they serve as an intermediary between producers and end customers. The chart of J.B. Hunt in particular is worrisome,…
Tiffany Hagler-Geard | Bloomberg | Getty ImagesIntuit on Thursday reported quarterly results that beat analysts’ estimates and issued stronger-than -expected guidance for the full year. The stock rose about 4% in extended trading. Here’s how the company did compared to analysts’ estimates compiled by LSEG:Earnings per share: $11.65 adjusted vs. $10.91 expectedRevenue: $7.8 billion vs. $7.56 billion expectedRevenue in the fiscal third quarter increased 15% from $6.7 billion a year ago. Intuit is best known for its TurboTax and QuickBooks software. The latest quarter ended on April 30, two weeks after the deadline for filing tax returns in the U.S.For its full fiscal…
Stocks are on a shaky path once more as deficit fears rattle markets, but investors may be able to find solid income if they pick out the right dividend payers. A recent spike in Treasury bond yields has kept stocks under pressure this week. At its session high on Thursday, the 30-year Treasury bond yield surged to 5.161% and the benchmark 10-year note yield topped 4.6%. The sell-off in U.S. government debt came as the House of Representatives approved President Donald Trump’s sweeping tax bill and sent it to the Senate. The measure includes a higher exemption for state and…
