Check out the companies making headlines in midday trading. Alphabet — The tech behemoth fell 8%. Eddy Cue, senior vice president of services at Apple, said on Wednesday that Apple was “actively looking at” reshaping its Safari web browser to focus on AI-powered search functions, according to a Bloomberg report . Cue made the comments during his testimony in the U.S. Justice Department’s lawsuit against Alphabet. Cue added that he believes AI search engines such as OpenAI will eventually replace their standard counterparts like Google. Uber Technologies — Shares slipped almost 2% after the ride-sharing company reported mixed first-quarter results…
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Disney shares surged Wednesday on a strong quarter and positive guidance. The cherry on top was plans for a new theme park in the United Arab Emirates, a sign of long-term confidence in its profit engine. Revenue in the three months ended March 29 increased 7% year over year to $23.62 billion, topping expectations of $23.14 billion, according to LSEG. Adjusted earnings per share in the fiscal 2025 second quarter totaled $1.45, beating expectations of $1.20. On an annual basis, adjusted EPS jumped 20%. DIS YTD mountain Disney YTD Shares of Disney added more than 11% on pace for their…
Disney’s strong quarterly results and full-year guidance raise has analysts giddy at the media giant’s prospects. The company posted fiscal second-quarter earnings and revenue that exceeded consensus estimates, driven in part by an unexpected uptick in streaming subscribers and upped its full-year guidance. The report sent Disney shares up more than 10%, boosting the Dow Jones Industrial Average. Wednesday’s gain put share on pace for their best day since April 9. Heading into Disney’s earnings release, analysts were closely awaiting the company’s theme parks and streaming results — segments viewed as highly vulnerable to macro weakness. The company managed to…
A Ford mustang is seen at a used car dealership in Montebello, California on May 5, 2025. Frederic J. Brown | AFP | Getty ImagesDETROIT — A closely watched barometer for used vehicle pricing jumped last month to its highest level since October 2023 as consumers rushed purchases amid fears of price hikes due to auto tariffs.Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 4.9% last month compared with a year earlier to a level of 208.2.It also marked a 2.7% increase from March. That’s a…
The upcoming meeting in Switzerland between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart was requested by the Trump administration, Chinese officials said Wednesday.China will be entering the talks “firmly” opposed to U.S. tariff hikes, and willing to participate only in a dialogue “based on equality, respect and mutual benefit,” Foreign Ministry spokesman Lin Jian wrote on X.”To pressure or coerce China in whatever way simply does not work,” wrote Lin. “We will resolutely safeguard our legitimate interests and uphold international fairness and justice.”The post shows China attempting to set the tone ahead of the high-stakes negotiations that could…
Strait of Hormuz in the Persian Gulf.Stocktrek | Photodisc | Getty ImagesDUBAI, Unites Arab Emirates — President Donald Trump’s administration reportedly plans to announce that the U.S. will officially call the Persian Gulf the Arabian Gulf or Gulf of Arabia, a move that would be welcomed by Arab Gulf leaders and likely draw anger from Iran.The development was reported by The Associated Press, citing two unnamed U.S. officials, and is set to be timed for Trump’s Middle East visit on May 13 to 16, during which time he will make stops in Saudi Arabia, Qatar and the United Arab Emirates.The…
Jonathan Raa | Nurphoto | Getty ImagesDemocrats turned up the pressure on President Donald Trump’s cryptocurrency ventures this week and the fortune that he and his family are making off the efforts as a vote rolls forward on a key crypto bill.Thursday’s vote on the GENIUS ACT, a bill to establish federal rules for stablecoins, will be a test of how far the crypto lobby’s influence goes after it heavily backed Trump’s 2024 presidential campaign.Even with limited power, Democrats are calling for probes into Trump-connected coins and backers, seeking financial records and blocking legislation.On Capitol Hill Tuesday morning, California Rep.…
Cardinal Fridolin Ambongo Besungu attends the Holy Mass, celebrated for the election of the new pope, presided over by the Dean of the College of Cardinals, Cardinal Giovanni Battista Re, in St. Peter’s Basilica, at the Vatican, May 7, 2025. Murad Sezer | ReutersCatholic cardinals who will choose the next pope were locked behind the heavy wood doors of the Sistine Chapel on Wednesday, sequestered from the world to elect the man they hope can unite a diverse but divided global Church.In a ritual dating back to medieval times, 133 cardinal electors walked slowly into the chapel before taking an oath of perpetual secrecy…
Advanced Micro Devices CEO Lisa Su said China is a “large opportunity” market for the semiconductor and artificial intelligence industry even as export controls and evolving tariff plans loom over the world’s second-largest economy.”There should be a balance between export controls for national security as well as ensuring that we get the widest possible adoption of our technology,” Su told CNBC’s “Squawk on the Street” on Wednesday. “That’s a good thing for U.S. jobs in the U.S. economy.”She added that U.S. leadership in artificial intelligence and widespread adoption is the primary objective and a “really great position for us to…
Tesla Inc. (TSLA) is facing mounting challenges with recent declines in deliveries and revenue signaling weakening demand in key markets. Despite strong profitability and growth metrics, TSLA’s sky-high valuation presents substantial downside risk. Coupled with stiff competition from Chinese EV makers eroding market share and market timing indicating a potential reversal, this creates an attractive opportunity for adding bearish exposure. Trade timing The timing for adding bearish exposure to TSLA is optimal, as the stock has recently rallied to its $300 resistance level, forming a double-top pattern. This technical set-up, combined with overbought conditions, suggests a potential reversal lower, with…
