CANNES — Fifteen years after flipping burgers at a McDonald’s and teaching himself to code at night in a cramped apartment near the French Riviera, Robinhood crypto chief Johann Kerbrat is back. The last time he lived around Cannes, he was 21 — with no connections, no funding, and no formal business training. But he had a knack for programming and a drive to solve real-world problems. Kerbrat quit his job just before starting university in nearby Nice, and soon after launched his first fintech startup: a no-code payments company built from scratch to help small merchants create e-commerce sites…
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Goldman Sachs says combat has been “redefined” by Russia’s war on Ukraine, creating an opportunity for Kratos Defense and Security Solutions as the U.S. allocates more defense dollars for drones and missile systems. The firm upgraded the company, which specializes in unmanned systems and propulsion technology, to buy from neutral in a Sunday note, alongside a $52 per share price target. Goldman’s forecast implies about 13% upside from Friday’s $45.84 close. Shares have already surged nearly 74% in 2025. Analyst Anthony Valentini said that Russia’s war on Ukraine exemplified the need for cheap yet efficient weaponry. At the same time,…
Oracle CEO Safra Catz speaks at the FII PRIORITY Summit in Miami Beach, Florida, on Feb. 20, 2025.Joe Raedle | Getty ImagesOracle shares jumped more than 5% after a recent filing showed a cloud deal that would add over $30 billion annually.CEO Safra Catz is slated to share the deal news at a company meeting Monday, according to a filing with the Securities and Exchange Commission. The revenues are expected to start hitting in the 2028 fiscal year.”Oracle is off to a strong start in FY26,” Catz is expected to say, according to the filing. “Our MultiCloud database revenue continues…
Tom LeeAdam Jeffery | CNBC Fundstrat’s Tom Lee is joining a little known bitcoin miner aiming to become the biggest publicly traded holder of ether.Lee, a high-profile market strategist known for his prescient bitcoin price forecasts and stock predictions, has been appointed chairman of the board of directors of BitMine Immersion Technologies, effective Monday. The company also announced a $250 million private placement to implement a buying strategy around ether, which it aims to make its primary treasury reserve asset while continuing with its core bitcoin mining business.Lee’s appointment comes amid a groundswell of interest around stablecoins following the successful…
Visitors to the U.S. Capitol rest in the shade on Capitol Hill in Washington, D.C., U.S., June 25, 2025. Nathan Howard | ReutersSenators on Monday began offering amendments to President Donald Trump’s megabill, following a weekend of tense negotiations to try to get the president’s second term domestic priorities through the upper chamber.The process, called a “vote-a-rama,” began shortly after 9 a.m. ET, and it was not yet clear how long it could go on. Eight hours or more is not unusual. Senators are allowed to introduce an unlimited number of amendments to the budget bill, forcing the chamber to…
Google on Monday announced a partnership with Commonwealth Fusion Systems, or CFS, a private company spun off from the Massachusetts Institute of Technology, which marks the tech giant’s first commercial commitment to fusion.The company unveiled plans to buy 200 megawatts of clean fusion power from what CFS describes as the world’s first grid-scale fusion power plant, known as ARC, based in Chesterfield County, Virginia.ARC is expected to come online and generate 400 megawatts of clean, zero-carbon power in the early 2030s, which is enough energy to power large industrial sites or roughly 150,000 homes, according to CFS. The agreement also…
Traders work at the New York Stock Exchange on June 18, 2025. NYSEU.S. stocks have strongly rebounded after a rough start to the year, even as the outlook for the world’s largest economy and its interest rates remains as uncertain as ever.Economic modeling is “very difficult” right now because “things are changing constantly,” Atlanta Fed President Raphael Bostic told CNBC’s “Squawk Box Europe” on Monday, pointing to Canada’s recent walk-back on its digital services tax.Market participants are also closely-watching the latest progress of U.S. President Donald Trump’s “big, beautiful bill,” which cleared a key Senate hurdle over the weekend. From an inflation…
Check out the companies making headlines before the bell: Moderna — Shares rose 2% after the biotech company’s experimental flu vaccine showed a positive response in a late-stage trial, opening the way for the standalone shot and a combination Covid shot. Hewlett Packard Enterprise , Juniper Networks — Shares rallied 14% and 8%, respectively, after the U.S. Department of Justice, according to court filings, settled its lawsuit challenging server maker Hewlett Packard Enterprise’ $14 billion acquisition of Juniper Networks. Meta Platforms — Shares gained 2% after Bloomberg and The Information over the weekend reported, citing unnamed sources, that Meta has…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors heading into Monday’s session were looking at financials as the sector outperforms. JPMorgan also breaks down its year-end outlook for stocks. David Zervos’ outlook on financials David Zervos of Jefferies expects financials to be one of the best performing sectors in the second half of 2025. “I’m very optimistic on deal flow and a deregulatory story that starts to hit the energy sector and financial sector,” said Zervos. ” I think there…
Janine Kraft, store manager of the Tante Enso store in Wörlitz, Germany, sorts goods onto the shelves.Picture Alliance | Picture Alliance | Getty ImagesGermany’s annual inflation rate unexpectedly eased to 2% in June, bringing Europe’s largest economy in line with the European Central Bank’s target, preliminary data from statistics office Destatis showed Monday.Analysts polled by Reuters had expected a reading of 2.2% in the twelve months to June.The German print is harmonized across the euro zone, allowing for a direct comparison with other single currency states. The consumer price index had eased to 2.1% in the year to May.Elsewhere in…
