Even before New York AG Tish James launched her insider-trading inquiry into whether Trump cronies got tips to buy stocks before the president’s tariff “pause,” Wall Street veterans flagged fishy tariff-related trades tied to Apple, On The Money has learned.These involved some suspicious buying of beaten-down Apple shares after the markets opened last Friday. The trades in question predated by hours the White House’s surprise tariff exemption on smartphones, an announcement that would bolster the sagging fo ...

Core Viewpoint - Tesla is facing a proposed class action lawsuit alleging that the company manipulates odometer readings on its electric vehicles to accelerate the expiration of warranties, thereby saving on repair costs [1][3]. Group 1: Allegations and Claims - The plaintiff, Nyree Hinton, claims that the odometer readings on his 2020 Model Y are at least 15% fast, leading to a misrepresentation of actual mileage driven [2]. - Hinton asserts that this discrepancy caused his 50,000-mile basic warranty to expire prematurely, resulting in a $10,000 repair bill for suspension issues that he believes Tesla should cover [3]. - The lawsuit alleges that by linking warranty limits and lease mileage caps to inflated odometer readings, Tesla increases repair revenue and reduces warranty obligations, compelling consumers to purchase extended warranties sooner than necessary [3]. Group 2: Legal Proceedings and Scope - Hinton is seeking both compensatory and punitive damages for Tesla drivers in California, which could potentially affect over 1 million vehicles [4]. - The lawsuit has been moved to federal court in Los Angeles from a state court, indicating a significant legal escalation [6]. - Tesla has previously faced litigation regarding the inflation of vehicle driving ranges, and a federal judge ruled that claims in that case must be pursued through individual arbitrations rather than as a class action [6].

Netflix exceeded Wall Street expectations in its quarterly earnings report and offered a bullish revenue outlook on Thursday, signaling confidence amid the economic uncertainty surrounding President Trump’s erratic tariff plans.Shares of the company were roughly flat in after-hours trading at $970.10.The streaming giant also said its co-founder Reed Hastings had left his post as executive chairman to become the board’s non-executive chair, “part of the natural evolution of our leadership structure and succe ...

Core Points - Ford Motor is recalling over 148,000 vehicles in the US due to safety concerns related to braking performance and powertrain control issues [1][3] Group 1: Recall Details - The first recall involves 123,611 vehicles, specifically certain 2017–18 Ford F-150, Expedition, and Lincoln Navigator models, due to a fluid leak that may reduce braking performance and increase stopping distance [1][4] - The second recall affects 24,655 of the 2025 Explorer vehicles, where a powertrain control module (PCM) may reset while driving, potentially damaging the vehicle's park system or causing an engine stall [3] Group 2: Dealer Actions - Dealers are expected to replace affected parts such as the master cylinder or brake booster free of charge for the first recall [2] - For the second recall, dealers will fix the software issue at no cost, with owners being notified by May 26 [3]

Tesla has reportedly scaled back production and boosted discounts for its much-hyped Cybertruck as sales skid and inventory builds up.Elon Musk’s EV company has reduced production targets for multiple Cybertruck assembly lines, Business Insider reported — just a month after Tesla paused deliveries of the futuristic vehicle due to rampant reports of trims coming unglued.Sources told Business Insider that some production lines are now running at only a fraction of their previous capacity, while staffing level ...

Core Viewpoint - Eli Lilly's experimental oral drug orforglipron demonstrated significant weight loss in Type 2 diabetes patients, leading to a 15% surge in its stock price, indicating strong market potential for oral GLP-1 receptor agonists [1][5][12]. Company Summary - Eli Lilly's orforglipron trial results showed an average weight loss of 16 pounds (7.9% of body weight) over 26 weeks, outperforming Novo Nordisk's Ozempic, which resulted in a 6% weight loss at its highest dose [1][2][3]. - The drug also achieved a 1.3% average reduction in blood sugar levels, slightly below Ozempic's 2.1% reduction, but overall efficacy in weight loss and diabetes management has been positively received [3][12]. - If approved, orforglipron could provide a convenient oral alternative to injectable medications, addressing a significant barrier to adoption of current GLP-1 therapies [11][12][14]. Industry Summary - The demand for GLP-1 receptor agonists has surged due to rising global obesity rates and a growing preference for pharmaceutical weight management solutions [9]. - Novo Nordisk's shares fell by 3.9% amid concerns that orforglipron could challenge its market dominance with Ozempic and Wegovy, which are currently only available in injectable form [4][14]. - The oral GLP-1 market is becoming increasingly competitive, with Eli Lilly's orforglipron trial being one of several studies aimed at expanding the drug's potential applications, including obesity and sleep apnea [12][14].

Wall Street plunged on Thursday on the final trading day of the week, with focus on US-Japan tariff talks, while a slump in UnitedHealth’s shares following a forecast cut by the insurer weighed on the Dow.In morning trading, the Dow Jones Industrial Average slid 637 points, or 1.6%, to 39,032. The S&P 500 fell 0.1%, and the Nasdaq was down 0.5%. 3 The Dow tumbled more than 600 points, or 1.6% on Thursday. Getty ImagesAhead of the long weekend, all three major Wall Street indexes are on track for weekly lo ...

Core Viewpoint - A federal judge ruled that Google operates illegal monopolies in digital advertising technology, potentially leading to a breakup of its online business empire [1][3]. Group 1: Legal Findings - The ruling determined that Google violated the Sherman Act by dominating both the online publisher ad server market and the ad-exchange market [1]. - The judge noted that Google entrenched its monopoly power through anticompetitive practices, harming both competitors and consumers [2]. Group 2: Financial Impact - Following the ruling, shares of Google's parent company, Alphabet, fell by 1.2%, trading at $153.64 [2]. Group 3: Future Proceedings - The Justice Department is advocating for the forced sale of Google's digital advertising products, including Google Ad Manager, in the upcoming remedies phase [3]. - A second trial phase is set to begin to determine appropriate remedies for Google's monopoly [3][4].

Nvidia boss Jensen Huang reportedly met with the founder of DeepSeek on Thursday during a surprise trip to Beijing – just one day after a House committee revealed a probe into whether the chip giant violated strict export rules by selling to China.Huang’s meeting with DeepSeek boss Liang Wenfeng included talks related to “new chip designs for Chinese customers,” the Financial Times reported, citing two sources familiar with his schedule. The Nvidia CEO also met separately with China’s Vice Premier He Lifeng ...

UnitedHealth shares plunged 17.4% premarket on Thursday after the insurer dramatically slashed its profit forecast for the year after it revealed disappointing earnings.The healthcare company – whose top insurance executive was shot dead in midtown Manhattan in December – cut its full-year adjusted earnings outlook to a range of $26 to $26.50 per share, down from $29.50 to $30 a share.The firm also reported adjusted income of $7.20 a share in the first quarter, below analysts’ expectations of $7.29, accordi ...