Phillips 66 (PSX) closed at $131.78 in the latest trading session, marking a -6.88% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.24%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.23%. The oil refiner's shares have seen an increase of 3.56% over the last month, surpassing the Oils-Energy sector's loss of 1.72% and the S&P 500's gain of 1.31%.Market participants will be closely following the financial results of Phillips 66 in its upcoming rel ...

U.S. President Donald Trump is expected to sign an executive order as soon as this week that would fast-track the reclassification of cannabis, NBC News reported on Tuesday, citing four people with di... ...

A top manager at the company tried to assuage concerns that the customer base might rein in its spending.On Tuesday, many investors chose to buy Affirm Holdings (AFRM +11.77%) stock. The buy-now, pay later (BNPL) specialist saw a nearly 12% increase in its share price following comments from one of the company's top managers, as well as an analyst price target upgrade. A bullish discussionThe comments were made by Affirm CFO Rob O'Hare in a fireside chat presented by the company. In his presentation, O'Hare ...

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Core Points - Tesla has been given 90 days to amend its advertising language or face a 30-day suspension from selling in California [1] - The California DMV has proposed a suspension of Tesla's license to sell and manufacture vehicles in the state, but has opted for a temporary stay on the suspension of the manufacturing license [3] - The DMV's actions follow a lawsuit filed in 2022, accusing Tesla of misleading consumers regarding its driver assistance technologies [4][5] Summary by Sections Advertising and Legal Actions - The California DMV has accused Tesla of misleading consumers by advertising its Full Self-Driving (FSD) system as capable of conducting trips without driver intervention [5] - Administrative Judge Juliet E. Cox has made a proposed decision regarding Tesla's advertising practices, which will be publicly released on December 22 [2] - Tesla's legal team has denied any intent to mislead consumers, stating that the company has always informed buyers about the limitations of FSD and Autopilot [5][6] Regulatory Response - The DMV sought to suspend Tesla's ability to sell cars for at least 30 days and to award monetary damages to consumers [5] - The DMV's proposed suspension of Tesla's selling license is currently on hold for 90 days to allow the company to make necessary amendments [3]

Core Points - Neurocrine Biosciences held its 2025 R&D Day, emphasizing the importance of the event for stakeholders [1] - The event featured key executives including the CEO, Chief Medical Officer, and Chief Scientific Officer, highlighting the leadership team's experience [2][3] - Dr. John Krystal, a prominent figure in neurology and psychiatry, participated in the event, indicating the company's commitment to collaboration with leading experts [3]

Core Viewpoint - A California regulator has permitted Tesla to continue selling vehicles in the state amid allegations of false marketing and exaggeration of self-driving capabilities [1] Group 1 - The California regulator's decision allows Tesla to maintain its sales operations in the state for the time being [1] - The case involves accusations against Tesla regarding misleading claims about its self-driving technology [1]

Group 1 - Wall Street perceives that companies investing in artificial intelligence are overspending on data centers, leading to a shift in investment focus towards other tech sectors and industries unrelated to data [1] - The current market sentiment is negative for data center stocks, as evidenced by the Dow's decline of 302 points and the S&P's drop of 24%, while the Nasdaq saw a modest increase of 23% [2] - Among the top-performing S&P 500 stocks, traditional data storage companies like SanDisk, Western Digital, Seagate, and Micron are thriving due to high demand and limited supply, allowing them to implement continuous price increases [3] Group 2 - The cyclical nature of storage companies means that while they currently benefit from tight market conditions, their stock prices are likely to fall once supply catches up with demand [4] - Concerns are raised about the future of data center stocks and related sectors, as analysts may predict downturns despite potential strong quarterly performances from certain companies [4]

Core Viewpoint - Paramount Skydance is maintaining its $30-a-share, all-cash bid for Warner Bros. Discovery (WBD) and is arguing that its $78 billion offer is superior to WBD's current deal with Netflix [1][6]. Group 1: Bid Details - Paramount Skydance's owners, David and Larry Ellison, along with RedBird Capital, plan to assure shareholders that they will cover the $2.8 billion breakup fee, which equates to about $1 per share, if enough investors support their bid by the January 8 deadline [2]. - Paramount Skydance is confident in its financing, claiming to have secured credit lines from Bank of America and Apollo, with Larry Ellison contributing $12 billion in cash and Gulf State funds providing another $24 billion in equity [7][8]. Group 2: Competitive Landscape - There is speculation of a bidding war as WBD is expected to formally urge investors to reject Paramount Skydance's hostile bid, emphasizing the uncertainty surrounding the financing of Paramount's offer [4][10]. - Notable media investor Mario Gabelli has expressed his intention to support Paramount's all-cash bid over Netflix's deal, which involves stock and complex financing [5][10]. Group 3: Regulatory Considerations - Paramount Skydance argues that its deal presents regulatory certainty compared to Netflix's offer, which may trigger a lengthy antitrust investigation due to the combination of streaming assets [8]. - WBD and Netflix counter that regulatory concerns are overstated, citing the reliance of consumers on social media and YouTube for programming rather than streaming services [10]. Group 4: Financial Backing and Concerns - Larry Ellison's commitment to backstop the deal is under scrutiny, as his wealth is primarily tied to Oracle shares, which have lost significant value since the bidding began [11]. - Critics argue that Ellison's backing is not personal but comes from a revocable trust, although Paramount Skydance defends the trust as a legitimate source of his wealth for deal-making [12].

Core Viewpoint - Gold prices have increased due to expectations of Federal Reserve rate cuts, which typically enhance the attractiveness of non-interest-bearing precious metals [1] Group 1 - The anticipation of Fed rate cuts is a significant factor driving gold prices higher [1]