People walk past a Sweetgreen restaurant in Manhattan.Jeenah Moon | The Washington Post | Getty ImagesSweetgreen shares dropped more than 25% on Friday after the salad chain cut its 2025 outlook for the second quarter in a row, citing issues with its loyalty program, weak consumer sentiment, tariff headwinds and store challenges.For the full-year 2025, Sweetgreen now expects revenue of between $700 million and $715 million, down from its May prediction of $740 million to $760 million and its February outlook of $760 million to $780 million.It also projects negative same-store sales for the full year, estimating declines of between…
Author: usaeverydaylife
The end of Tesla ‘s own AI supercomputer efforts — where it was developing its own chips — means Elon Musk’s company will become an even bigger customer for major chipmakers, according to Wells Fargo. Analyst Aaron Rakers highlighted Nvidia and Advanced Micro Devices as beneficiaries of Tesla’s decision to shut down its custom-built AI training supercomputer Dojo team, which was first reported by Bloomberg on Thursday. Pete Bannon, Tesla hardware design engineering vice president, is leaving the company after joining from Apple in 2016, CNBC confirmed. Remaining employees are being reassigned to Tesla, Bloomberg’s report said, citing people familiar…
Key PointsPrivate investment firms of the ultra-rich made 60% fewer direct investments in July compared with the same period last year, according to Fintrx.Rattled by tariff uncertainty, some family offices have been investing more overseas, especially in European startups.Infinitas Capital’s Robin Lauber told CNBC why the Swiss family office is optimistic despite the market turmoil.A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Private investment firms of the ultra-rich once again dialed back their deal-making…
Revolut cards is seen in this illustration photo taken in Krakow, Poland on March 29, 2024. Jakub Porzycki | Nurphoto | Getty ImagesLONDON — Bank of England Governor Andrew Bailey told CNBC there hasn’t been a “falling out” with the U.K. government over delays to fintech giant Revolut’s long-awaited bank license.Last week, the Financial Times reported that a meeting arranged by British Finance Minister Rachel Reeves with Revolut and the Prudential Regulation Authority (PRA) — an arm of the BOE that oversees banks — was cancelled after an intervention from Bailey.Authorizing Revolut as a fully licensed bank has become an important issue for…
Sam Altman, left, and Elon Musk.Muhammed Selim Korkutata | Anadolu | Getty ImagesSam Altman has dismissed longtime rival Elon Musk’s warnings that OpenAI is set to dominate Microsoft, after the companies announced that OpenAI’s latest AI model will be incorporated into Microsoft products.On Thursday, Microsoft CEO Satya Nadella announced that OpenAI’s GPT-5 service would be launching across platforms including Microsoft 365 Copilot, Copilot, GitHub Copilot, and Azure AI Foundry — prompting a response from Musk that “OpenAI is going to eat Microsoft alive.”Nadella sought to downplay the issue. “People have been trying for 50 years and that’s the fun of…
Palantir is on its way to becoming a trillion-dollar company, according to prominent tech bull Dan Ives. The AI company’s stock has surged more than 140% since the beginning of the year. Earnings beats , lucrative military contracts and the firm’s CEO boasting about “crazy, efficient revolution” in terms of growing revenue while downsizing headcount, have all helped build buzz around the firm. The firm’s shares popped 7.85% on Tuesday, after it reported $1 billion quarterly revenues for the first time, way ahead of analyst expectations. Since then, the stock has extended its gains and was last seen 1% higher…
Bill Nygren, portfolio manager at Oakmark Funds for four decades, said he’s focusing on cheap stocks that return meaningful capital to shareholders with the stock market trading at record highs. The widely followed value investor revealed that he’s trying to find hidden gems that are a lot cheaper than the average stock in the S & P 500, which is trading at 23 times forward earnings. Nygren said almost half his holdings have multiples less than 12 times earnings. While his picks don’t offer exceptional organic growth, he looks for the companies that have solid repurchase or dividend programs in…
A dump truck moves raw ore inside the pit at the Mountain Pass mine, operated by MP Materials, in Mountain Pass, California, U.S., on Friday, June 7, 2019. Joe Buglewicz | Bloomberg | Getty ImagesMP Materials’ stock surged on Friday after the miner narrowed its losses in the second quarter on record production of a key rare earth oxide, raising hopes among investors that the company is moving toward profitability after a big investment by the Defense Department.Shares of MP were more than 6% in morning trading.MP booked an adjusted loss of $21.37 million, or 13 cents per share, down…
U.S. President Donald Trump speaks, as he makes an announcement on the economy, in the Oval Office at the White House in Washington, D.C., U.S., August 7, 2025. Jonathan Ernst | ReutersU.S. President Donald Trump’s deadline for Russia to cease its war in Ukraine expires on Friday, as markets watch whether the White House will proceed with steep penalties on Moscow’s oil clients.Increasingly frustrated with the Kremlin, Trump has pledged “secondary tariffs” of “about 100%” on Russia’s trade partners, if Moscow does not end its invasion in Ukraine, setting an initial 50-day timeline that was later shortened.Trump has made ending…
Check out the companies making headlines before the bell: Under Armour — The retail stock tumbled 21% after American sportswear company posted first-quarter results that missed estimates. Under Armour reported adjusted earnings of 2 cents per share, lower than the FactSet consensus estimate of 3 cents. Revenue of $1.10 billion came in below the $1.13 billion expectation. Trade Desk — Shares tumbled 33%. A slew of Wall Street firms including Bank of America and MoffettNathanson downgraded the stock, even after Trade Desk’s surprisingly strong earnings results, after CEO Jeff Green warned during the earnings call that “some of the world’s…
