As expected, Tesla (TSLA) announced at its general meeting in Austin, Texas, that shareholders approved CEO Elon Musk’s pay package, which could reach $1 trillion in overall compensation. Tesla said Musk’s package passed with over 75% approval. “I’d like to give a heartfelt thanks to everyone who supported the shareholder votes,” Musk said at the […]
(Bloomberg) — Texas Roadhouse Inc. shares fell in postmarket trading Thursday after the company lifted its forecast for commodity inflation for this year and predicted an acceleration next year. The Louisville, Kentucky-based chain now expects its commodity prices, driven by high beef prices, to rise about 6% in 2025, up from roughly 5% projected last […]
The “K-shaped” economy, widely touted in the financial press, is the latest expression of wealth inequality. The U.S. economy is experiencing a growing gap between the highest earners and the richest corporations, who are spending and expanding their wealth, and the lowest-income households and mom-and-pop companies, who struggle to pay their bills day to day. […]
The Supreme Court on Wednesday began its highly anticipated consideration of President Trump’s sweeping blanket tariffs, with the lawyer for the government making an audacious case. Trump’s duties “are not revenue-raising tariffs,” US Solicitor General D. John Sauer argued before the court, calling the tens of billions of dollars currently being brought in each month […]
Bank of America (BAC) CEO Brian Moynihan and his top lieutenants aren’t happy with how investors value the nation’s second-largest bank compared to rivals. They’re setting out to change that later this week. The push to boost the bank’s fortunes officially kicks off Wednesday, when investors gather in downtown Boston to hear Moynihan and his […]
Supermicro (SMCI) stock dropped more than 9% in extended trading Tuesday as the AI server maker reported revenue and earnings for the first quarter of its 2026 fiscal year that fell below Wall Street’s expectations. The company reported revenue of $5.02 billion for the first quarter, down from $5.94 billion during the year-ago period and […]
Denny’s said Monday that it’s being acquired by a group on investors in a deal that will take the breakfast chain private. Denny’s board unanimously approved the deal, which values Denny’s at $620 million including debt. Denny’s will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital and Yadav Enterprises, […]
Palantir Technologies Inc. raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales, though the shares declined in after-hours trading on concerns about the company’s lofty valuation after a record run-up. Palantir shares fell about 3% in extended trading after earlier gaining as much as 7% following the report. Investors […]
In lieu of official economic data (thanks, government shutdown), we have the Chipotle (CMG) economic indicator. And if it’s to be believed on an initial pass, we are either in a mild recession or nearing one. While I was listening to Chipotle’s earnings call Wednesday night, CEO Scott Boatwright pinned a weak quarter and soft […]
Investors and analysts have spent much of the year embracing the view that the oil market, which has been in oversupply mode, is heading straight for a glut through 2026 — and that glut could reach as high as 4 million barrels per day (b/d) and depress global prices even further along the way. That […]
The government shutdown is less than a week from breaking the record as the longest in US history. As economic pain points begin to mount, President Trump has called for Senate Republicans to eliminate the filibuster to force an end to the shutdown. “THE CHOICE IS CLEAR — INITIATE THE ‘NUCLEAR OPTION,’” Trump posted on […]
Gold’s (GC=F) rise to all-time highs this year has sparked a growing appetite for tokenized bullion as investors look for ways to take part in the “debasement trade,” but on blockchain. The precious metal issued in token form uses the same technology that underpins cryptocurrencies, with issuer guarantees that the tokens are backed by physical […]
