Ford Motor said Monday it will take a $19.5 billion writedown and is killing several electric-vehicle models, in the most dramatic example yet of the auto industry’s retreat from battery-powered models in response to the Trump administration’s policies and weakening EV demand.The Dearborn, Mich.-based company said it will stop making the F-150 Lightning in its electric vehicle form, but will pivot to producing an extended-range electric model, a version of a hybrid vehicle called an EREV, which uses a gas-p ...

JPMorgan Chase — whose CEO Jamie Dimon once dismissed bitcoin as a “fraud” and likened cryptocurrencies to a “Ponzi scheme” — is diving further into crypto with a money-market fund that’s based on blockchain.The bank’s asset-management division, which handles $4 trillion, will start the Wall Street giant’s first tokenized money-market fund — this one on the Ethereum network — with $100 million of its own money, the Wall Street Journal reported.The fund — called the My OnChain Net Yield Fund, or MONY — will ...

Core Viewpoint - iRobot, the maker of Roomba vacuums, has filed for bankruptcy and will be acquired by its Chinese supplier, Shenzhen Picea Robotics, transitioning to a privately held company [1][2]. Group 1: Company Background - iRobot was founded by researchers at the Massachusetts Institute of Technology and has been in operation for 35 years [2][5]. - The company has sold approximately 50 million Roombas worldwide, with some premium models costing over $1,000 [5][7]. Group 2: Financial Situation - iRobot's struggles intensified after a proposed acquisition by Amazon for $1.7 billion fell through in 2024 due to regulatory concerns, leading to significant layoffs of 350 employees, or 30% of its workforce [1][7]. - Following the failed acquisition, Amazon paid iRobot a breakup fee of $94 million [7]. Group 3: Customer Concerns - Customers are worried about the future functionality of their Roomba vacuums, particularly those that rely on online services for operation [2][3]. - Despite the bankruptcy, iRobot has assured customers that it will continue to support the app that controls the robots and does not anticipate any service disruptions [2].

Core Viewpoint - Netflix co-CEOs Ted Sarandos and Greg Peters are advocating for the acquisition of Warner Bros. Discovery, addressing concerns about job cuts and the future of theatrical releases amid a rival bid from Paramount Skydance [1][2][3] Acquisition Details - Netflix is pursuing a $72 billion deal that includes HBO, HBO Max, and Warner Bros. Studios, while Paramount has made a hostile bid valuing Warner Bros. Discovery at approximately $78 billion with an all-cash offer of $30 per share [3][4] - The Netflix offer amounts to $27.75 per share, with the argument that Warner Bros. Discovery shareholders will ultimately receive more than $30 per share when the company's cable assets are spun off [6] Industry Impact - The co-CEOs emphasized that the deal is focused on growth, aiming to strengthen one of Hollywood's iconic studios and support jobs in the film and TV production sector [2][3] - Concerns have been raised regarding regulatory approval, particularly since Netflix would own the top two streaming services if the deal goes through [8][10] Competitive Landscape - The CEOs noted that a potential Netflix-Warner Bros. combination would have a smaller view share percentage compared to YouTube or a Paramount-Warner Bros. partnership, indicating a competitive landscape in the streaming market [9] - Senator Elizabeth Warren has criticized both deals, labeling Paramount's offer as a significant antitrust concern and previously describing Netflix's bid as an "anti-monopoly nightmare" [9][10] Historical Significance - If the acquisition is successful, Netflix would gain control of Warner Bros., a studio with a rich history, including classics like "Casablanca" and major franchises such as "Harry Potter" and "Lord of the Rings" [10][11] - Additionally, Netflix would acquire HBO, recognized as a gold standard in television with acclaimed series like "The Sopranos" and "Game of Thrones" [11]

Core Viewpoint - Tesla's shares reached their highest level in nearly a year following CEO Elon Musk's announcement that the company is testing its robotaxis without safety monitors in the front passenger seat, reflecting investor optimism about its self-driving technology and humanoid robot ambitions, despite the majority of its revenue still coming from electric vehicle sales [1][2]. Group 1: Stock Performance - Tesla's stock rose by as much as 4.9%, reaching $481.37, marking its highest price in nearly a year [2]. - The stock previously hit a record high of $488.54 on December 18 of the previous year, driven by expectations of regulatory easing for self-driving cars [3]. Group 2: Robotaxi Testing - Tesla launched a limited robotaxi service in Austin, Texas, in June, using modified Model Y vehicles equipped with Full Self-Driving technology, initially requiring a human safety monitor [3]. - The current testing phase involves robotaxis operating without any occupants in the vehicle, as stated by Elon Musk [5][8]. Group 3: Market Expectations - Investors and analysts are optimistic that Tesla will accelerate its testing and quickly deploy driverless taxis, especially with the upcoming launch of its Cybercab model next year [4]. - Analysts, such as Seth Goldstein from Morningstar, believe that the news of testing without safety monitors aligns with expectations of progress in Tesla's testing efforts, contributing to the positive market reaction [6]. Group 4: Competitive Landscape - As of November, Alphabet's Waymo leads the commercial robotaxi market with over 2,500 robotaxis operating in major US cities, providing approximately 450,000 paid rides per week [7].

Core Viewpoint - Paramount Skydance is attempting to acquire Warner Bros. Discovery (WBD) through a $30-a-share cash bid, which has been rejected in favor of a $27.75-a-share offer from Netflix, leading to a hostile appeal to shareholders by the Ellisons [2][4]. Group 1: Bid Details - The Ellisons' bid for WBD is positioned as superior, claiming that their offer effectively values the company at $30.75 per share when including the sale of cable properties [2]. - The Netflix deal has been criticized by the Ellisons as risky, particularly regarding regulatory concerns and the optimistic valuation of cable assets like CNN, which they believe is worth less than implied [3][7]. Group 2: Financing Concerns - Larry Ellison is reportedly contributing $12 billion to the bid, which is less than 5% of his net worth of $243 billion, raising questions about the financial backing of the proposal [4][5]. - In contrast, Middle Eastern sovereign wealth funds have pledged double that amount, which has sparked concerns about foreign influence over U.S. media assets [5][12]. Group 3: Shareholder Engagement - The Ellisons are directly appealing to WBD shareholders, arguing that their offer was not given a fair hearing by the WBD board and that the spun-out cable assets are overvalued [7][11]. - Notable investors, including media investor Mario Gabelli, have pledged their shares to the Ellisons, indicating support for the cash component of the bid despite the source of funding [12][13]. Group 4: Market Reaction - Since the beginning of the bidding war, shares of WBD have increased by 150%, reflecting investor interest despite the ongoing conflict between the bidding parties [17].

Cannabis stocks surged Friday in the wake of reports that President Trump is preparing to reclassify marijuana under federal law — a long-awaited shift that investors say could loosen restrictions and revive a battered industry.Traders piled into pot firms on expectations that Trump will move cannabis from Schedule I to Schedule III under the Controlled Substances Act, a step that would treat marijuana as less dangerous and acknowledge it as acceptable for medical use.The rally marked one of the biggest sin ...

Core Viewpoint - Lululemon Athletica's CEO Calvin McDonald announced his resignation amid declining sales in North America, prompting a potential proxy battle initiated by the company's founder, Chip Wilson [1][11]. Group 1: Leadership Changes - CEO Calvin McDonald will step down on January 31 and will serve as an advisor until March [1][5]. - The board of directors is beginning the search for McDonald's successor, indicating a consensus that a leadership change is necessary [2]. Group 2: Financial Performance - Lululemon's total sales increased by 7% to $2.6 billion for the quarter ending November 2, driven by growth in China and other international markets, despite a 2% decline in North American sales [4]. - The company faced challenges with its merchandising mix in North America, which did not align with its future brand vision [6]. Group 3: Criticism and Accountability - Chip Wilson criticized the board for failing to hold management accountable for product innovation and described the company's approach as complacent [3][13]. - Analysts have pointed out that under McDonald's leadership, Lululemon lost its direction, alienating loyal customers due to inconsistent design and expansion into non-core categories [7]. Group 4: Future Outlook - Wilson, a significant shareholder, is advocating for new independent directors to oversee the CEO search and has expressed concerns about the board's ability to plan for the future effectively [13][14].

Core Viewpoint - Disney CEO Bob Iger expressed concerns regarding Netflix's potential acquisition of Warner Bros. Discovery's streaming and studio assets, highlighting the risk of Netflix gaining excessive pricing leverage over consumers [1][3]. Group 1: Acquisition Details - Netflix's proposed acquisition of Warner Bros. Discovery's film and streaming businesses is valued at approximately $72 billion [3]. - Under the merger plan, Warner Bros. Discovery's linear TV networks would be separated into a publicly traded company, allowing Netflix to retain key assets [4]. - Paramount Skydance has made a hostile all-cash bid for Warner Bros. Discovery at $30 per share, valuing the company at over $108 billion, which may intensify the bidding competition [4][8]. Group 2: Regulatory Concerns - Antitrust scrutiny is anticipated regarding the Netflix-WBD deal, with critics arguing that the merger would significantly increase Netflix's share of global streaming viewing hours [5]. - Iger emphasized the need for regulators to consider the impact on consumers and the broader creative economy, particularly in relation to theatrical distribution [2][5]. Group 3: Industry Implications - Iger noted the importance of protecting the health of the media ecosystem, referencing Disney's own experience with large acquisitions, such as the $72 billion purchase of 21st Century Fox [7]. - The CEO highlighted the challenges faced by movie theaters, which operate on thin margins and rely on successful interactions with film companies to monetize effectively [6].

Market Overview - Stocks on Wall Street experienced a significant decline, with the Dow Jones Industrial Average dropping over 200 points (0.5%) to 48,462, the S&P 500 falling by 1.1%, and the Nasdaq losing 420 points (1.8%) [1] - Despite a previous rise to a new all-time intraday record of 48,886, the market sentiment shifted negatively due to concerns surrounding AI investments [1][3] Company-Specific Developments - Broadcom's shares fell more than 10% after the company warned of reduced future margins on AI system sales, raising concerns about the profitability of AI investments [2] - Other chip stocks, including Advanced Micro Devices, saw a decline of 1%, while a broader chips index fell by 1.5% following Oracle's weak forecast [2] - Nvidia's shares slipped by 1.9% amid reports of the company evaluating an increase in H200 chip production to meet demand from China [9] - Lululemon Athletica's stock surged by 12% after raising its annual profit forecast, despite the departure of CEO Calvin McDonald [9] - Cannabis companies listed in the US saw stock increases, with Canopy Growth rising by 23% and Tilray Brands climbing by 30% following reports of potential regulatory changes by President Trump [10] Economic Indicators - Policymakers expressed concerns about inflation remaining too high to justify lower borrowing costs, despite traders pricing in a total of 50 basis points of rate cuts by the end of 2026 [6]