President Donald Trump said Tuesday that the two largest American banks previously rejected him as a customer, reviving claims that conservative clients were being unfairly denied accounts.Trump told CNBC’s “Squawk Box” in a wide-ranging interview that JPMorgan Chase informed him he had 20 days to move “hundreds of millions of dollars in cash” to another bank. He didn’t say when this happened.The president then said he approached Bank of America to “deposit a billion dollars-plus” and was told the bank couldn’t provide him an account, Trump said.”[Bank of America CEO Brian Moynihan] said, ‘We can’t do it,'” Trump said. “So…
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Palantir stock popped more than 7% Tuesday after the software analytics provider lifted its full-year outlook, boosted by the artificial intelligence wave.CEO Alex Karp called the earnings results a “once in a generation, truly anomalous quarter” during an earnings call with analysts.”We’re very proud and we’re sorry that our haters are disappointed, but there are many more quarters to be disappointed, and we’re working on that too,” he added.U.S. revenues grew 68% year over year $733 million, while U.S. commercial revenues nearly doubled from $306 million in the year-ago period. Palantir’s U.S. government revenues rose 53% from the year-ago period…
Novo Nordisk is in a tough spot as Ozempic sales lag behind Eli Lilly ‘s rival anti-obesity drugs, according to UBS. Analyst Matthew Weston downgraded the Danish pharmaceutical giant to neutral from buy, and slashed his 12-month price target some 43%, to about $52.55 from nearly $93 previously. The new objective implies roughly 8% upside from Novo’s Monday close in the U.S. of $48.81. Westin’s believes Novo Nordisk’s Ozempic semaglutide injection will not be able to regain market leadership to rival let alone beat Lilly in the GLP-1 space. Novo Nordisk’s market share loss comes even as it has a…
My top 10 things to watch Tuesday, Aug. 5 1. Wall Street was heading for a modestly higher open. Monday’s bounce-back rally after Friday’s weak jobs-driven slump broke a four-session losing streak. Club earnings ahead: Disney is tomorrow morning, with Eli Lilly on Thursday morning and Texas Roadhouse on Thursday night. 2. President Donald Trump told CNBC this morning in a wide-ranging interview that Treasury Secretary Scott Bessent does not want to be chairman of the Federal Reserve. But Trump said four others are in the running. The president also said pharma tariffs could eventually go up to 250% and…
President Donald Trump said Tuesday he will unveil new tariffs on semiconductors and chips as soon as next week.”We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during a lengthy interview on CNBC’s “Squawk Box.”Trump said that that announcement will come “within the next week or so.”Global demand for semiconductors and microchips has skyrocketed as the technology has become integrated in virtually all sectors of the economy, including the booming artificial intelligence industry. Trump revealed the tariff timeline days after he signed an executive…
As demand for energy skyrockets amid the rise of AI, one of Tesla’s co-founders is betting on a new solution: giving old electric vehicle batteries a second-life. JB Straubel, who helped launch Tesla and served as its tech chief until 2019, founded Redwood Materials in 2017 to recycle batteries and build a closed-loop supply chain for EVs. But as Redwood started receiving more EV batteries, the startup noticed that most still had usable capacity. Rather than recycle those batteries, Redwood is now repurposing them for microgrid projects that could provide cheap energy storage for new and existing data centers.”We’re just…
U.S. President Donald Trump talks to members of the press at Lehigh Valley International Airport in Allentown, Pennsylvania, U.S., August 3, 2025.Ken Cedeno | ReutersPresident Donald Trump told CNBC’s “Squawk Box” on Tuesday that planned tariffs on pharmaceuticals imported into the U.S. could eventually reach up to 250%, the highest rate he has threatened so far.He said he will initially impose a “small tariff” on pharmaceuticals, but then in a year to a year and a half “maximum,” he will raise that rate to 150% and then 250%.The president has repeatedly threatened and then changed course on tariff proposals, so…
Check out the companies making the biggest moves in premarket trading: Palantir Technologies — The defense technology stock jumped 6.8% after quarterly revenue exceeded $1 billion for the first time and it raised full-year guidance. Palantir now anticipates revenue for the year to range between $4.142 billion and $4.150 billion, up from prior guidance of $3.89 billion to $3.90 billion. Second-quarter earnings and revenue topped expectations. Pfizer — The stock rose 1.7% after the drug maker raised its guidance and second-quarter earnings and revenue topped analyst estimates. Pfizer now expects full-year adjusted earnings between $2.90 to $3.10 per share, versus…
Here are Tuesday’s biggest calls on Wall Street: Deutsche Bank upgrades Palantir to hold from sell Deutsche upgraded the stock following earnings and said it was “late” but that the stock remains well positioned. “We were admittedly quite late to the party in appreciating how Palantir’s platform is uniquely positioned for AI and changed the trajectory of the company.” Read more. Bank of America reiterates Palantir as buy Bank of America raised its price target on the stock to $180 per share from $150. “We see Palantir as a beneficiary of rapidly growing demand for Artificial Intelligence (AI)-platforms in both…
President Donald Trump joins ‘Squawk Box’ via phone to discuss the efficacy of the Bureau of Labor Statistics. Source link
