Jack Hartung, CFO, Chipotle 190604Scott Mlyn | CNBCTesla has appointed long-time Chipotle executive Jack Hartung to its board of directors, effective June 1.As part of the board, Hartung will join Tesla’s audit committee, the electric vehicle company disclosed in a filing with the SEC on Friday.The addition comes as Tesla battles sinking EV sales and eroding profits, and concerns that CEO Elon Musk is focusing too much attention elsewhere, including in his role leading President Donald Trump’s Department of Government Efficiency. The company’s stock price is down 14% this year.Musk began his company’s earnings call last month by saying that his…
Author: usaeverydaylife
The recent pullback in Coinbase shares could be “overdone,” according to Oppenheimer. The firm reiterated its outperform rating on the crypto exchange operator and kept its price target at $293. That target implies 19.9% upside from Thursday’s close. Shares on Thursday fell 7.2% after the company said cybercriminals had bribed overseas support agents to steal customer data , an event it said might cost it up to $400 million to fix. The pullback puts the stock in the red for 2025 with a more than 1% loss. It has also fallen more than 20% over the past six months. “While…
During President Donald Trump’s Middle East trip in May, Nvidia announced significant investments and partnerships focused on advancing their artificial intelligence infrastructure. I want to use options to produce income on Nvidia as I believe new all-time highs ($153.13 all-time high Jan. 5) are coming for the leading AI chipmaker. During the trip, Nvidia agreed to sell 18,000 of its top AI chips to Humain, an AI company backed by Saudi Arabia’s Public Investment Fund. “I am so delighted to be here to help celebrate the grand opening, the beginning of Humain,” CEO Jensen Huang said. “It is an incredible…
Alexander Spatari | Moment | Getty ImagesSince ChatGPT’s big public debut already close to three years ago, Google has faced persistent questions about its decades-long hold over internet search traffic. That concern surfaced again in recent weeks after a top Apple executive alluded to a decline in search traffic on iPhone (where Google is the default search engine in the Safari browser) during court testimony. Amid a stock slide, Google was quick to issue a statement saying its search business was fine. In an earlier panic over ChatGPT, Google founder Sergey Brin spoke out to say he has full confidence…
Mike Novogratz’ crypto firm Galaxy Digital started trading on the Nasdaq Friday under the ticker GLXY. The stock opened at $23.50 per share on the U.S. exchange.Galaxy Digital, which has been traded on the Toronto Stock Exchange since 2020, shifted its shares to the Nasdaq through a direct listing — a move that follows a grueling, multi-year battle with U.S. regulators.Novogratz told CNBC’s “Squawk Box” Friday that Galaxy’s value now hinges on two high-growth areas: crypto and artificial intelligence.”These are the two most exciting growth areas in markets, right. AI and the infrastructure needed for AI to exist and crypto…
A woman walks in an aisle of a Walmart supermarket in Houston, Texas, on May 15, 2025. Ronaldo Schemidt | Afp | Getty ImagesU.S. consumers are becoming increasingly worried that tariffs will lead to higher inflation, according to a University of Michigan survey released Friday.The index of consumer sentiment dropped to 50.8, down from 52.2 in April, in the preliminary reading for May. That is the second-lowest reading on record, behind June 2022.The outlook for price changes also moved in the wrong direction. Year-ahead inflation expectations rose to 7.3% from 6.5% last month, while long-term inflation expectations ticked up to…
Hedge fund billionaire David Tepper trimmed his exposure to Chinese internet stocks in the first quarter as a trade war between the U.S. and China heated up, while adding a big bearish bet against an exchange-traded fund that rejects fossil fuel investments. Tepper, acting through his Appaloosa Management, had gone all in on China in the wake of Beijing’s pledge to boost its economy last fall. Now, he reduced his stakes in Alibaba , PDD and JD.com in the first quarter, according to a new 13F regulatory filing. The hedge fund also slashed its holding in iShares China Large-Cap ETF (FXI)…
Gold has cooled after a year-long rally that sent the commodity to a gain of 35%, but even with stocks in rebound mode, the market hedge has room to move higher, according to David Schassler, head of multi-asset solutions at fund manager Van Eck.”I couldn’t imagine a better backdrop for gold,” said Schassler on this week’s CNBC “ETF Edge.” The U.S. government has “huge debt, huge spending and huge chaos” Schassler said, adding that he doesn’t see that changing anytime soon. Hedge fund icon David Einhorn of Greenlight Capital echoed that sentiment on CNBC’s “Closing Bell” in an appearance Wednesday from the…
Founder and CEO at Nvidia Jensen Huang is interviewed by Chairman of the Milken Institute Michael Milken (not pictured) during the Milken Institute Global Conference 2025 in Beverly Hills, California, U.S., May 5, 2025. Mike Blake | ReutersNvidia said it won’t be sending GPU plans to China following a report that the artificial intelligence chipmaker is working on a research and development center in Shanghai in light of recent U.S. export curbs.”We are not sending any GPU designs to China to be modified to comply with export controls,” a spokesperson said in a statement to CNBC.The Financial Times was the…
China News Service | China News Service | Getty ImagesThe Trump administration’s trade truce with China that paused the steepest tariffs on Chinese goods isn’t offering much of a reprieve to many importers. Stacking of multiple tariff layers already implemented during the trade war has pushed up costs to import retail goods much higher than the 30% associated with the tentative agreement.”While companies are relieved to see a temporary pause from the incredibly high tariffs on goods from China, retailers are still facing very high tariffs that will have an impact on prices and supply,” said Josh Teitelbaum, senior counsel…
