Workers demolish the facade of the East Wing of the White House on Oct. 20, 2025 in Washington, DC.Kevin Dietsch | Getty ImagesThe Treasury Department told staff not to share photos of the White House’s East Wing as parts of it are demolished to build a new ballroom at the behest of President Donald Trump, a spokesperson confirmed to NBC News on Tuesday.Treasury’s warning came after photos of excavators tearing down parts of the building went viral online Monday in preparation of the planned 90,000 square foot, $250 million ballroom.In July, Trump said that construction of the ballroom “won’t interfere…
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Dario Amodei, co-founder and CEO of artificial intelligence startup Anthropic.Chesnot | Getty ImagesAnthropic CEO Dario Amodei addressed “inaccurate claims” about the artificial intelligence startup’s policy stances on Tuesday after repeatedly facing criticism from David Sacks, the venture capitalist serving as President Donald Trump’s AI and crypto czar.Amodei said the company is aligned with the Trump administration across “key areas of AI policy,” and that it is interested in working with “anyone serious about getting this right.””I fully believe that Anthropic, the administration, and leaders across the political spectrum want the same thing: to ensure that powerful AI technology benefits the American…
Spotify shares are likely to surge as the streaming platform is poised to court more free and premium users, according to Morgan Stanley. The investment bank named Spotify, a Swedish audio and media service, one of its top picks, reiterating an overweight rating on the stock. Morgan Stanley’s 12-month price target of $800 implies 18% upside. “Having added significant value to its free and Premium tiers, Spotify in our view kicked off a new pricing cycle this Fall and is poised to accelerate growth into next year,” analyst Benjamin Swinburne wrote Monday in a note to clients. Morgan Stanley’s Spotify…
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.Rebecca Cook | ReutersDETROIT — General Motors CFO Paul Jacobson on Tuesday said the company expects earnings next year to top its 2025 results, which have performed far better than Wall Street’s expectations.Investors had been hoping to hear comments about 2026 guidance as the automaker reported third-quarter earnings that included raising 2025 guidance and topping Wall Street’s expectations.”Looking ahead to 2026, we have multiple levers to carry our current momentum forward, including progress on [electric vehicle] losses, warranty costs, tariff offsets, regulatory…
Packets of Walls Cornetto, Magnum and Ben & Jerry’s ice cream are displayed on March 20, 2024.John Keeble | Getty Images News | Getty ImagesConsumer goods group Unilever is delaying the spin-off of its Magnum Ice Cream unit due to the U.S. government shutdown, it said on Tuesday, the latest example of global business disruption from the impasse that shows little sign of ending.Unilever, the maker of Dove soap and Hellmann’s mayonnaise, said the U.S. Securities and Exchange Commission was currently unable to declare effective the registration statement required for shares of The Magnum Ice Cream Company to be listed…
JPMorgan is moving away from shares of Goldman Sachs for the time being. Analyst Kian Abouhossein downgraded shares of the investment bank to a neutral rating from overweight. He lifted his price target to $750 per share from $625, but that implies 2% downside from Monday’s close of $763.32. Abouhossein’s downgrade stemmed from Goldman’s stock already trading at a fair valuation. On the other hand, its European counterparts Barclays and Deutsche Bank trade at “significantly cheaper valuations,” he wrote. Goldman trades at a price-to-book valuation of 2.17, per FactSet. Barclays and Deutsche Bank, meanwhile, have price-to-book ratio of 0.81 and…
Warner Bros. Discovery said Tuesday it’s expanding its strategic review of the business and is open to a sale, sending shares of the company 8% higher in premarket trading. Earlier this year, WBD announced plans to split into two separate entities, a streaming and studios business and a global networks business. It’s also been fielding takeout interest from the newly merged Paramount Skydance. But on Tuesday, WBD said it’s received “unsolicited interest” from multiple parties and will now review all options. In the meantime, it’s still moving toward the previously announced separation, the company said. “We continue to make important…
Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024.Noah Berger | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. WTF, AWSWhat began as an early morning outage report for Amazon Web Services snowballed into a daylong saga that limited access to popular websites used for work, school, entertainment and travel. Monday evening, the company said all its services returned to normal operations.Here’s a recap:Downdetector showed users had…
The logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic and Wegovy is seen outside theri building as the company presents the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025. Mads Claus Rasmussen | Afp | Getty ImagesSeveral Novo Nordisk board members will step down from their positions after clashing with the controlling shareholder on the make-up of the firm.The Danish pharma giant said Tuesday that board directors and the Novo Nordisk Foundation — the firm’s controlling shareholder — had failed to reach an agreement on the future composition of…
Check out the companies making the biggest moves in premarket trading: General Motors — The Detroit automaker jumped 10.5% after raising its full-year guidance and posting an earnings beat. GM earned an adjusted $2.80 per share its third quarter, versus the $2.31 a share expected from analysts polled by LSEG. Revenue was $48.59 billion, compared to the $45.27 billion consensus estimate. The company now expects full-year adjusted EPS to come in between $9.75 to $10.50, up from its prior guidance of $8.25 to $10. Coca-Cola — The beverage and snack giant’s third-quarter earnings and revenue topped expectations, sending shares about…
