Okay, we told you just a few minutes ago about Apple's banner third quarter. The sales are the shares are higher this morning, up by about 1.6% right now. Joining us to talk more about it is Wamsy Mohan, who is Bank of America Securities senior equity research analyst.In a new note this morning, he is maintaining his buy rating on the stock. He's raising his price objective to $240 from $235. The stock right now is at $211.Wamzy, what did you see last night. what made you rise raise your price objective. >> ...

The second quarter results now out from Exxon Mobile. Earnings came in at $164 a share. That was better than estimates of $1.54%.Revenue came in at 81.5% billion dollars. Cash from operations of 11.5% billion came in below estimates, but the uh earnings were higher than expectations because again you saw higher production. This was the same story that we just saw with Chevron where higher production made up for low oil lower oil prices particularly in a position where a lot of those are high margin barrels. ...

President Trump demanding that major drug makers lower the prices that they charge Americans in the next 60 days. In a series of letters sent yesterday, President told companies to offer the full portfolio of their drugs uh to Medicaid patients at the same prices paid abroad. This is what's known as most favored uh nation rule.Trump also told drug makers to guarantee that Medicare, Medicaid, and private insurance patients get the same lower overseas prices for all newly approved medicines, and he demanded c ...

All right, let me tell you about some breaking news right now. We've got second quarter results that are just out from Chevron. Earnings came in at a $1.77% a share on an adjusted basis.That's better than the 170 that the street was looking for. Revenue also came in uh better than expected, $44.8% billion versus 43.8% billion. Lots of other metrics that are in here that came in above estimates as well, including nut production.They set worldwide and uh US record levels that they'd seen on this for the periu ...

Take a look at shares of software design developer Figma soaring. And when I say soaring, that's probably an understatement. Uh in their public debut yesterday, the company pricing its IPO $33 uh a share. That was originally open for trading yesterday at $85, then closed at more than $115. At that point, Fig's market cap was close to $70 billion. As you remember, and we've talked about it, um Adobe agreed to buy that company back in 2022 for $20 billion, but that deal had fallen apart over concerns from Bri ...

Meanwhile, uh, President Trump ratcheting up tariffs on countries around the world, uh, with a new rate set to kick in within days. I should say new rates because there's a lot of them. And we want to get the very, very latest this morning from Megan Cassella.Good morning to you. >> Good morning, Andrew. So, with one executive order overnight, the president, as you said, increasing tariffs and adjusting them on dozens of countries across the world.All of these new rates set to take effect within 6 days from ...

Cloud Computing - Amazon's AWS is under pressure to match Microsoft Azure's Q1 growth of 39%, as AWS delivered over 60% of Amazon's operating income last quarter with triple the company average margins [2] - Amazon plans to invest $100 billion this year, while Microsoft increased its spending to $120 billion and Alphabet to $85 billion [3] E-commerce & Tariffs - Analysts are optimistic about Amazon's ability to navigate tariff impacts, expecting positive results in third-party seller performance and online sales [4][5] - The tariff force started on April 2nd, coinciding with the second quarter [4] Cryptocurrency Market - Analysts anticipate a roughly 30% drop in retail trading volumes for Coinbase compared to the same quarter last year [8] - Analysts expect a 38% year-over-year increase in revenue from stablecoins for Coinbase [8] - Speculative retail trading slowed across centralized exchanges like Coinbase as Washington's focus shifted to tariffs, with institutional inflows into crypto ETFs and buying by crypto treasury companies supporting crypto prices [7] - The SEC wants to bring all financial markets in the US on-chain [9] Reddit's Performance - Reddit's shares have gained 42% in the past two months, with 62% of analysts having a buy rating on the stock and 34% having a hold rating [13] - Analysts expect Reddit's revenue to grow nearly 52% and earnings to swing to a 19 cent per share gain from a 6 cent per share loss in the year-ago quarter [14] - There are concerns about Reddit's dependence on Google traffic and the growing negative impact from AI search [15]

It is time. It's time for the light. Come back.Bye. Bye bye. Don't call my step by you play now.And then the lightning round is over. Are you ready. Ski d myself with Todd in California.Todd. Todd speak. I got a question about towave.Yeah, sure. I got a question about Corweave. It's It seems like I think I think Corweave I got to tell you Corv was up 11 today.Cory was 11. I think Corweave is good. Uh remember Nvidia is better than Cororeweave.I think Corweave might even tell you that. Let's go to Chris in C ...

FICO's Business Performance - FICO experienced 20% growth overall, with 37% growth in the B2B portion of its scores business [4] - The scores business has demonstrated double-digit revenue and profit growth for several years [5] - FICO's volumes are approximately 40% below their peak [26] FHFA and Regulatory Issues - The FHFA (Federal Housing Finance Agency) is allowing lenders to use different credit score models for mortgages sold to Fannie Mae and Freddie Mac [2] - The FHFA director, Bill Py, has referred to FICO as a monopoly [1] - FICO 10T is technically approved by the FHFA, but its implementation timeline is not the same as Vantage [19] - Concerns exist regarding the safety and soundness of the FHFA's approach [20] FICO 10T vs VantageScore - FICO 10T outperforms FICO Classic, with 18% fewer credit defaults [13] - FICO maintains over 90% market share in markets outside of government mandates [17] - In the non-conforming mortgage market, $313 billion in originations have been done with FICO 10T [18] - FICO scores cost $4.95 out of $6,000 in mortgage closing costs [21] FICO Classic and Market Stability - FICO Classic has been used for the last 20 years and is highly optimized [11] - The industry has models built on FICO Classic, and regulators use it for capital adequacy assessments [12] - FICO Classic has been stress-tested through the 2008 downturn [23][24]

Market Overview & Valuation Concerns - The market experienced a downturn, with the Dow sliding 330 points, S&P declining 037%, and Nasdaq edging down 003%, attributed to concerns over inflated valuations exemplified by Figma's IPO [3] - The speaker emphasizes that valuation matters, and euphoria in the market is detrimental to business [3][4] - The speaker introduces "Fig Newtons law," suggesting that what goes up (in terms of valuation) must come down, cautioning against a new phase of the bull market driven by ludicrous valuations [15][16] Company Performance (Microsoft & Meta) - Microsoft and Meta exceeded earnings estimates significantly, driven by investments in artificial intelligence [5][6] - Microsoft's stock trades at approximately 35 times earnings, while Meta trades at less than 29 times earnings [6][7] - Microsoft gained nearly 4%, and Meta jumped more than 11% following their earnings reports [7] - The speaker believes Microsoft and Meta are undervalued compared to the S&P 500, which sells at 24 times earnings [8] Figma IPO & Valuation - Figma's IPO priced at $33, opened at $85, and closed at $115 and change, highlighting concerns about excessive valuation [2] - Figma's valuation is considered wildly inflated because it doesn't make that much money, making a price-to-earnings multiple irrelevant [13][14] - Figma's valuation is judged on a price-to-sales basis, reaching 67 times sales assuming 40% growth, compared to Meta at ten times sales and Microsoft at 12 times sales [14] Amazon & Apple Performance - Amazon reported a good quarter with healthy top and bottom lines, with better-than-expected sales across divisions, but gave mixed guidance [18][19] - Apple's sales and earnings came in substantially better, driven by strong iPhone sales, with 10% revenue growth [20]