Musk Cuts Washington Time Amid Tesla Profit Plunge

 

Tesla CEO Elon Musk announced he will reduce his time in Washington D.C., to a couple of days a week, following a 71% drop in Tesla's first-quarter profit. This comes after Tesla reported earnings of $409 million, significantly lower than the previous year. Musk attributes the slump to...

Tesla Earnings Call: Low Margins, Musk's Politics Loom Large

 

Tesla's Q1 2025 earnings call is highly anticipated, but for concerning reasons. The company faces low margin expectations, weak sales (336,681 deliveries, its worst in over two years), and pressure from competitors. Musk's political involvement further complicates the situation, impacting customer demand, particularly in China. Investors are keen...

Stocks Rebound After Trade War Hopes, Trump Attacks Powell

 

US stocks rebounded strongly on Tuesday, with the Dow Jones, S&P 500, and Nasdaq Composite experiencing significant gains after Monday's sell-off. The market's rise followed a report that Treasury Secretary Scott Bessent anticipates a de-escalation of the trade war with China. Monday's decline was attributed to investor uncertainty...

Retro Gaming Handhelds Hit Hard by Trump Tariffs

 

US President Trump's tariffs on Chinese imports are disrupting the retro handheld gaming market. Anbernic has suspended US shipments of its RG35XX Plus, joining Retroid Pocket, which is rushing to fulfill orders before tariff increases. These tariffs, impacting small shipments, raise prices significantly, causing panic buying among enthusiasts....

Gold Retreats After Record High, Profit-Taking Emerges

 

Gold prices retreated after hitting a record high of over $3,500 per ounce. The drop, reaching 1.5%, followed a 10% rally this month. Traders booked profits as risk appetite improved, with equities rebounding and bonds and the dollar stabilizing. Technical indicators suggest the recent price surge may...

Trump Tariffs Hit Aerospace Giants RTX and GE

 

RTX and GE Aerospace anticipate over $1 billion in combined losses due to President Trump's tariffs on imported goods. RTX projects an $850 million hit from the 10% tariffs imposed earlier this month, while GE Aerospace, despite maintaining its 2025 outlook, aims to offset a projected $500 million impact through...

Tesla Sales Slump Amid Musk's White House Role

 

Tesla faces a sales slump and stock woes amid worldwide protests against CEO Elon Musk's role in the Trump administration. The company's upcoming earnings report will reveal the financial impact. Shareholders are calling for Musk to resign his White House position. Tesla's Q1 2025 deliveries dropped 13%,...

Roche Invests $50 Billion, Creates 12,000 US Jobs

 

Roche, a Swiss pharmaceutical giant, announced a $50 billion investment in the United States over the next five years, creating 12,000 jobs. The investment will focus on expanding research and development and manufacturing facilities across several states. This follows recent US tariff discussions with Switzerland, and Roche states...

Fruitist's Blueberry Sales Triple, IPO Planned

 

Berry producer Fruitist, formerly Agrovision, announced a name change and exceeding $400 million in annual sales, driven by its jumbo blueberries. Sales of these blueberries tripled in the past year. The company, backed by over $1 billion in investment, including from Ray Dalio's family office, aims for an...

Walgreens Pays $350 Million in Opioid Settlement

 

Walgreens will pay up to $350 million to settle a U.S. Department of Justice lawsuit alleging the illegal filling of millions of opioid prescriptions between 2012 and 2023. The settlement includes a minimum payment of $300 million, with an additional $50 million payable if the company is sold before...