When President Trump declared from the stage of an opulent ballroom in Saudi Arabia that the United States was done nation-building and intervening, that the world’s superpower would no longer be “giving you lectures on how to live,” his audience erupted in applause.He was effectively denouncing decades of American policy in the Middle East, playing to grievances long aired in cafes and sitting rooms from Morocco to Oman.“In the end, the so-called nation builders wrecked far more nations than they built,” Mr. Trump said on Tuesday, during a sweeping address at an investment conference in the Saudi capital of Riyadh.…
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Steve Cohen said Wednesday he sees the possibility that stocks could retest their lows from April following the market’s dramatic comeback. “I don’t expect, you know, a significant decline. I think this is possible we can go back toward the lows which is 10%, 15% [from here] so it’s not a calamity,” the founder of Point72 said at the Sohn Investment Conference in New York. “What Trump did recently actually raises the floor and eliminates perhaps the dire scenario.” Cohen’s comments came after the U.S. and China suspended reciprocal tariffs pending a 90-day negotiating period, which sparked a sharp rally…
The final trades of the day with CNBC’s Dominic Chu and the Fast Money traders. Source link
Foot Locker – Shares of the sports apparel retailer soared 63%. The Wall Street Journal reported, citing sources familiar with the matter, that Dick’s Sporting Goods is closing in on a deal to buy the company for roughly $2.3 billion or about $24 per share. Shares of Dick’s Sporting Goods slid about 4%. Cisco Systems – Shares of the networking tech company jumped 2% after fiscal third-quarter results topped estimates. Cisco posted adjusted earnings of 96 cents per share on revenue of $14.15 billion, while analysts polled by LSEG sought 92 cents per share on revenue of $14.08 billion. Cisco’s…
People walk by a YouTube logo as Google celebrates the 20th anniversary of the first video uploaded to YouTube, at the company’s corporate headquarters in San Bruno, California, on April 23, 2025.Josh Edelson | AFP | Getty ImagesYouTube on Wednesday announced a new tool that will allow advertisers to use Google’s Gemini AI model to target ads to viewers when they are most engaged with a video. The artificial intelligence feature, called “Peak Points,” identifies times when videos receive elevated levels of viewer attention and packages ads to be placed after those moments. Peak Points has the potential to enable more…
The logo for consumer lending firm Capital One Financial Corp. is seen on its headquarters in McLean, Virginia, on Jan. 20. 2023.Win Mcnamee | Getty Images News | Getty ImagesNew York Attorney General Letitia James sued Capital One on Wednesday, accusing the bank of “cheating” customers out of millions of dollars in interest payments, just months after the Trump administration’s Consumer Financial Protection Bureau dropped a similar suit against the financial institution.In a complaint filed in Manhattan federal court, James alleged that Capital One marketed its “360 Savings” account as its high-yield savings account, then left those customers in the…
Investors should consider getting bullish on Advanced Micro Devices following a slew of positive headlines surrounding the name, according to Scott Nations, president of Nations Indexes. Nations joined CNBC’s ” Power Lunch ” on Wednesday to discuss this and two more of the trading day’s biggest stock stories, and whether investors should take up or sell shares of those names. Advanced Micro Devices The artificial intelligence chip company gained more than 4% on Wednesday after it said its board of directors approved $6 billion in share buybacks . AMD 1D mountain AMD, 1-day Nations deemed AMD as a “buy,” pointing…
The Microsoft Teams app on a laptop arranged in New York, US, on Tuesday, June 25, 2024. Gabby Jones | Bloomberg | Getty ImagesEU antitrust regulators are set to accept Microsoft’s offer to widen the price differential between the Office product sold with its chat and video app Teams and its software sold without the app, people familiar with the matter said on Wednesday.The move would bring an end to a long-running case triggered by a 2020 complaint by Salesforce-owned Slack, which could have resulted in a hefty antitrust fine for the U.S. tech giant.The European Commission is likely to seek feedback from…
Cisco Chairman and CEO Chuck Robbins speaks at a keynote address at the Cisco Live! conference in Las Vegas on June 7, 2023.Ethan Miller | Getty Images Entertainment | Getty ImagesCisco reported earnings and revenue that topped analysts’ estimates on Wednesday and issued guidance that also exceeded Wall Street’s prediction.Here’s how the company did in comparison with LSEG consensus:Earnings per share: 96 cents adjusted vs. 92 cents expectedRevenue: $14.15 billion vs. $14.08 billion expectedRevenue increased 11% during the quarter, which ended on April 26, from $12.7 billion a year earlier, according to a statement. Net income rose to $2.49 billion, or 62…
Nvidia announced an agreement with Saudi Arabia on Tuesday to develop the kingdom’s artificial intelligence capabilities, a sign of its expanding global strategy.The partnership goes beyond the AI chip leader’s conventional Western collaborations and may serve as a litmus test for future U.S. export policies with nations that keep close ties with both Washington and China.But the chip export landscape just got a little more murky.As Nvidia CEO Jensen Huang was in Saudi Arabia announcing the Blackwell deal, the Trump administration released a new round of AI chip restrictions targeting China.The Commerce Department issued a warning against the use of…
