Live updates: Trump announces big tech, energy investments at Pittsburgh summit
President Trump announced $92 billion worth of investments in tech and energy projects on Tuesday in Pittsburgh at an summit organized by Sen. Dave McCormick (R-Pa.).
'Pennsylvania is spearheading the charge for American energy and AI dominance,' the senator wrote in an op-ed Tuesday for Fox Digital.
The Senate is pushing up against a Friday deadline to approve a rescissions package from the White House. Senate Majority Leader John Thune said Tuesday that he will press ahead with a vote, secure he has the number of votes to pass it. The White House said it would allow the exemption of PEPFAR from the cuts, which had drawn opposition.
Earlier Tuesday, former national security adviser Mike Waltz, testifying before the Senate Foreign Relations Committee in his bid to become U.N. ambassador, stood by the use of Signal in a chat that discussed sensitive military details earlier this year.
Waltz, under questioning from Sen. Chris Coons (D-Del.), said no disciplinary action was taken against him or others in the March chat. He said the use of Signal stemmed from a Biden-era recommendation for using an end-to-end encrypted chat. The two disagreed over the nature of the information that was shared in that chat and whether it was appropriate to discuss it there.
Worth your time:
Inflation ticks up in June following tariffs
GOP senators want nothing to do with Trump-Epstein-MAGA controversy
Trump faces MAGA midterm warnings on Epstein
Trump toughens his stance on Russia
Stick around here all day for updates.
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Epstein fallout latest: Trump threatens to sue WSJ and orders release of grand jury testimony
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The post came less than an hour after Trump vowed to sue the Wall Street Journal over a report that he sent Epstein a racy birthday letter in 2003. In a separate Truth Social post, the president said that he personally warned the newspaper's owner, Rupert Murdoch, and its editor, Emma Tucker, that the letter was 'FAKE' before the report was published and called the story 'false, malicious, and defamatory.' What did the WSJ report say? According to the Journal, Trump's letter, along with dozens of others, was part of a leather-bound book put together by Epstein associate Ghislaine Maxwell for the disgraced financier's 50th birthday. 'Happy Birthday — and may every day be another wonderful secret,' Trump's letter concluded in a typewritten message to Epstein, per the Journal. The text was 'framed by the outline of a naked woman, which appears to be hand-drawn with heavy marker,' the report stated. 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Stock market today: Dow slips as S&P 500, Nasdaq trim gains to hover near latest records
US stocks fluctuated on Friday, hovering near record highs as signs of strength in the economy provided the buoyancy that Netflix's (NFLX) earnings report lacked. The Dow Jones Industrial Average (^DJI) fell 0.5%, while the S&P 500 (^GSPC) and the tech-focused Nasdaq Composite (^IXIC) hovered near the flatline. The S&P 500 and Nasdaq trimmed early gains after the University of Michigan consumer sentiment survey showed one-year inflation expectations plunging to 4.4% from 5% in June. Stocks were consolidating after the S&P 500 and Nasdaq Composite vaulted to their latest all-time closing highs on Thursday. Wall Street welcomed economic data which showed little indication that President Trump's tariffs are affecting consumer spending habits. Read more: The latest on Trump's tariffs Netflix's second quarter results failed to enthuse the market, dragging on the stock. The streaming giant kicked off Big Tech earnings late Thursday with a wide profit beat and a solid revenue number. But investors likely wanted a bigger boost to full-year guidance to justify a raise on an already lofty valuation, analysts suggested. Meanwhile, American Express (AXP) strong quarterly results underscored high-end consumers are still spending. Read more: Full earnings coverage in our live blog The major indexes are set for weekly wins, with this week's drama involving Trump's fury with Fed Chair Jerome Powell largely on the back burner. Powell sent a letter to Trump's top budget official on Thursday, defending the Fed's headquarters renovation project for which he has come under fire in recent days. But already, the focus is turning to who could replace Powell next year and the additional dual mandate that person will face: keeping Trump happy while attempting to maintain the Fed's independence. Why it's so challenging for Trump to fire Powell Yahoo Finance's Alexis Keenan reports: Read more here. 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Market volatility provides Charles Schwab a tailwind in Q2 Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. 3M stock gains on earnings beat, smaller tariff hit forecast 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. 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UK stocks seem to be reversing years of underperformance Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Battery materials stocks jump after US lays out 93.5% graphite duty Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Netflix stock slips after a 'solid' report Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Why it's so challenging for Trump to fire Powell Yahoo Finance's Alexis Keenan reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. Circle stock rises on Genius Act passage, analyst upgrade Circle (CRCL) shares rose on Friday following the passage of the Genius Act, a landmark piece of legislation providing regulatory clarity for stablecoin issuers. 'We're raising our price target for CRCL to $280 (from $235) on the passing of the Genius Act,' Jeff Cantwell, senior analyst at Seaport Research, wrote on Friday. 'This is a watershed moment that unlocks substantial new opportunity for stablecoins. CRCL is the purest stablecoin play in public markets, and we expect the company to capitalize on this legislative clarity by accelerating new partnerships and revenue streams.' Circle shares are up more than 600% since the company went public on June 5 with an IPO price of $31. Circle (CRCL) shares rose on Friday following the passage of the Genius Act, a landmark piece of legislation providing regulatory clarity for stablecoin issuers. 'We're raising our price target for CRCL to $280 (from $235) on the passing of the Genius Act,' Jeff Cantwell, senior analyst at Seaport Research, wrote on Friday. 'This is a watershed moment that unlocks substantial new opportunity for stablecoins. CRCL is the purest stablecoin play in public markets, and we expect the company to capitalize on this legislative clarity by accelerating new partnerships and revenue streams.' Circle shares are up more than 600% since the company went public on June 5 with an IPO price of $31. Netflix stock slips on 'elevated expectations' for earnings Netflix (NFLX) stock dropped over 4% in early trading on Friday as its earnings beat and raise didn't quite meet Wall Street's lofty expectations. Netflix topped second quarter earnings expectations and raised its full-year revenue outlook, but as Yahoo Finance's Allie Canal reports, the company's lofty valuation left little room for error. "Despite a good quarter and positive tone that business trends remain strong, shares are up 42% year-to-date and expectations were high," William Blair analyst Ralph Schackart wrote in a note titled "Good Quarter, but Tough to Surpass High Expectations." "In other words," he added, "An overall 'good' set of results and guide were not good enough for elevated expectations, in our view." Netflix stock trades at roughly 40 times forward earnings, a steep premium to the broader market and even many of its tech peers. Read more here. Netflix (NFLX) stock dropped over 4% in early trading on Friday as its earnings beat and raise didn't quite meet Wall Street's lofty expectations. Netflix topped second quarter earnings expectations and raised its full-year revenue outlook, but as Yahoo Finance's Allie Canal reports, the company's lofty valuation left little room for error. "Despite a good quarter and positive tone that business trends remain strong, shares are up 42% year-to-date and expectations were high," William Blair analyst Ralph Schackart wrote in a note titled "Good Quarter, but Tough to Surpass High Expectations." "In other words," he added, "An overall 'good' set of results and guide were not good enough for elevated expectations, in our view." Netflix stock trades at roughly 40 times forward earnings, a steep premium to the broader market and even many of its tech peers. Read more here. Inflation expectations tumble in July The latest University of Michigan consumer sentiment survey, released Friday, showed pessimism over the inflation outlook lessened in July, as one-year inflation expectations plunged to 4.4% from 5% in June. Those expectations had been at a more-than-four-decade high of 6.6% in May. Long-run inflation expectations, which track expectations over the next five to 10 years, also fell, hitting 3.6%% in July, down from 4% in June. The decrease in inflation expectations has come as consumers' worst fears over tariff-driven inflation have faded. Still, the broader consumer sentiment survey hasn't shown a sharp rebound. July's index reading of 61.8 was just marginally higher than the 60.7 seen in June. "Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example, if trade policy stabilizes for the foreseeable future," Surveys of consumers director Joanne Hsu wrote in the release. Read more: What is consumer confidence, and why does it matter? The latest University of Michigan consumer sentiment survey, released Friday, showed pessimism over the inflation outlook lessened in July, as one-year inflation expectations plunged to 4.4% from 5% in June. Those expectations had been at a more-than-four-decade high of 6.6% in May. Long-run inflation expectations, which track expectations over the next five to 10 years, also fell, hitting 3.6%% in July, down from 4% in June. The decrease in inflation expectations has come as consumers' worst fears over tariff-driven inflation have faded. Still, the broader consumer sentiment survey hasn't shown a sharp rebound. July's index reading of 61.8 was just marginally higher than the 60.7 seen in June. "Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example, if trade policy stabilizes for the foreseeable future," Surveys of consumers director Joanne Hsu wrote in the release. Read more: What is consumer confidence, and why does it matter? American Express CFO on consumer spending: 'What you see is remarkable resilience' American Express (AXP) stock fell nearly 3% in early trading on Friday after the premium credit card issuer surpassed revenue and profit estimates for the second quarter. On the earnings call, American Express CFO Christophe Le Caillec said consumer spending remained resilient among its affluent customers. 'What you see is remarkable resilience across our customer base,' he said, though he noted consumers are exercising 'a little bit of prudence around the edges.' Overall consumer and business spending rose 7% to $416.3 billion, remaining consistent with trends in the first quarter, Le Caillec stated. Airline and lodging spending was slightly softer, while restaurant spending grew 8%. Transaction growth was up 9%, "another indicator of strong customer engagement and ... largely consistent with what we've been seeing over the past few quarters," the CFO said. American Express sees continued growth for the rest of the year and left its revenue and earnings per share guidance unchanged. Read more here. American Express (AXP) stock fell nearly 3% in early trading on Friday after the premium credit card issuer surpassed revenue and profit estimates for the second quarter. On the earnings call, American Express CFO Christophe Le Caillec said consumer spending remained resilient among its affluent customers. 'What you see is remarkable resilience across our customer base,' he said, though he noted consumers are exercising 'a little bit of prudence around the edges.' Overall consumer and business spending rose 7% to $416.3 billion, remaining consistent with trends in the first quarter, Le Caillec stated. Airline and lodging spending was slightly softer, while restaurant spending grew 8%. Transaction growth was up 9%, "another indicator of strong customer engagement and ... largely consistent with what we've been seeing over the past few quarters," the CFO said. American Express sees continued growth for the rest of the year and left its revenue and earnings per share guidance unchanged. Read more here. Stocks tick higher after hitting fresh records Stocks were in the green at the opening bell after hitting fresh records in the previous session amid investor enthusiasm over stronger-than-expected economic data. The S&P 500 (^GSPC) rose 0.2% while the Dow Jones Industrial Average (^DJI) added 0.1%, and Nasdaq Composite (^IXIC) was up 0.3% in early trading. The S&P and Nasdaq rose to fresh records on Thursday. Second quarter earnings continued to roll in with morning reports from 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Stocks were in the green at the opening bell after hitting fresh records in the previous session amid investor enthusiasm over stronger-than-expected economic data. The S&P 500 (^GSPC) rose 0.2% while the Dow Jones Industrial Average (^DJI) added 0.1%, and Nasdaq Composite (^IXIC) was up 0.3% in early trading. The S&P and Nasdaq rose to fresh records on Thursday. Second quarter earnings continued to roll in with morning reports from 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Waller makes strongest call yet for rate cut in July, underscoring Fed divide Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Market volatility provides Charles Schwab a tailwind in Q2 Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. Charles Schwab (SCHW) stock rose 3% ahead of the opening bell as the company's adjusted profits surged more than 50% year over year. Market volatility surrounding President Trump's tariffs fueled higher trading activity for the brokerage. The company reported adjusted earnings per share of $1.14, beating Wall Street estimates for EPS of $1.10. Revenue came in at $5.9 billion, above expectations for $5.7 billion. Charles Schwab also brought in new assets of $80.3 billion, representing 31% growth annually. 'Schwab delivered growth on all fronts during the second quarter,' Charles Schwab CEO Rick Wurster said. 'The firm's diversified revenue model, coupled with our best-in-class scale and efficiency, produced quarterly records for both revenue and earnings per share.' Listen to the earnings call live at 9:30 a.m. ET here. 3M stock gains on earnings beat, smaller tariff hit forecast 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. 3M (MMM) stock rose over 2% in premarket trading on Friday after posting an earnings beat and raising its full-year profit forecast. The Scotch tape maker reported second quarter adjusted earnings per share of $2.16 on revenue of $6.16 billion, both above estimates. It now sees full-year adjusted profits between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. 3M also projected tariffs would create a smaller hit to earnings this year than previously expected. Its forecast includes a $0.10 per share hit to 2025 earnings, versus the $0.20 to $0.40 impact it guided for previously. Other companies have also scaled back their projected losses from tariffs. Earlier this week, Johnson & Johnson (JNJ) halved its expected tariff impact to $200 million. Read more here from Reuters. Chevron to proceed with Hess deal after winning legal battle against Exxon Chevron (CVX) and Hess (HES) have won an arbitration battle against Exxon (XOM) over access to an oil project off the coast of Guyana. Chevron stock rose 3% premarket, while shares of Hess climbed 7%. Exxon's stock declined less than 1%. The result clears the way for Chevron to proceed with its $53 billion acquisition of the smaller oil firm, whose value was partially tied up in its 30% stake in the Guyanese oil project shared with Exxon. Chevron had said it could delay or terminate the acquisition altogether if it didn't win the arbitration. But in the end, it prevailed. "We disagree with the International Chamber of Commerce (ICC) panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement. Read more here. Chevron (CVX) and Hess (HES) have won an arbitration battle against Exxon (XOM) over access to an oil project off the coast of Guyana. Chevron stock rose 3% premarket, while shares of Hess climbed 7%. Exxon's stock declined less than 1%. The result clears the way for Chevron to proceed with its $53 billion acquisition of the smaller oil firm, whose value was partially tied up in its 30% stake in the Guyanese oil project shared with Exxon. Chevron had said it could delay or terminate the acquisition altogether if it didn't win the arbitration. But in the end, it prevailed. "We disagree with the International Chamber of Commerce (ICC) panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement. Read more here. UK stocks seem to be reversing years of underperformance Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Overseas investors are starting to warm up to the UK's unloved stocks as a UK-US trade deal, lighter regulation, and cheap stocks deliver juicy returns versus the rest of Europe. The FTSE 100 (^FTSE) has gained nearly 10% this year to hit record highs this week, beating the STOXX 600 (^STOXX), which is up 7.5%. Reuters reports: Read more here. Battery materials stocks jump after US lays out 93.5% graphite duty Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Bloomberg reports: Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China. Shares of Australian graphite miner Syrah Resources Ltd. (SYAAF) surged as much as 38%, while shares of South Korea's Posco Future M Co. ( climbed 24%. Novonix Ltd. (NVNXF), an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc. (NMG) The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The US determined that China, which dominates the processing capacity of graphite, had been unfairly subsidizing the industry. Graphite is a key raw material in the anodes of electric-vehicle batteries. About two-thirds of the material imported by the US still came from China last year. Read more here. Netflix stock slips after a 'solid' report Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Netflix (NFLX) shares are faltering in premarket trading, despite "solid" second quarter earnings. The streamer delivered beats on both profit and sales, and upped its full-year revenue guidance in its report late Thursday. Some on Wall Street had flagged Netflix's lofty valuation going into the print, Yahoo Finance's Allie Canal reports. Bloomberg Intelligence senior media analyst Geetha Ranganathan told Yahoo Finance that the stock was priced to perfection heading into the report. "It was a really solid print," Ranganathan said in reaction to the earnings. "The big thing that investors were really focused on was commentary for the rest of the year, and they delivered there as well." Ranganathan also noted that while the operating margin was also solid, it was "maybe not spectacular." "I think investors were looking for something a little but more here," she said. "So it was originally forecast at 29% for the full year operating margin — they just took that up a smidge to 29.5%. I think investors were looking somewhere in the range of 30%-31%." Read more on Netflix's earnings here. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Trump Celebrates 'Late Show' Cancellation: 'I Absolutely Love That Colbert Got Fired'
President Donald Trump is wasting no time in celebrating the news that CBS is officially canceling Stephen Colbert's 'The Late Show,' and wrote Friday on social media that vocal Trump critic and comedian Jimmy Kimmel might be 'next' to lose his job on ABC. 'I absolutely love that Colbert' got fired,' Trump wrote Friday on his Truth Social platform. 'His talent was even less than his ratings,' the president continued. 'I hear Jimmy Kimmel is next. Has even less talent than Colbert! Greg Gutfeld is better than all of them combined, including the Moron on NBC who ruined the once great Tonight Show.' Kimmel famously roasted Trump on one of the biggest stages of all, at the 2024 Oscars. CBS announced in a statement Thursday that the move is 'purely a financial decision against a challenging backdrop in late night,' and said the cancellation is not related 'in any way to the show's performance, content or other matters happening at Paramount.' The 'Late Show' cancellation does arrive mere days after Colbert torched CBS parent company Paramount Global, however, for settling a lawsuit with Trump for $16 million over a '60 Minutes' interview with former Vice President Kamala Harris. The agreement reportedly included a 'side deal' for CBS to run at least $15 million worth of public service ads that promote causes Trump personally supports, which has raised huge concerns from press freedom advocates — which seemed to include Colbert. 'As someone who has always been a proud employee of this network, I am offended,' the comedian and political pundit said during Monday's monologue, his first after a vacation. 'I don't know if anything — anything — will repair my trust in this company.' Colbert went on to directly call the settlement a 'big fat bribe,' presumably because the pending and highly publicized merger between Paramount and Skydance Media requires legal approval from the pro-Trump chair of the Federal Communications Commission. Colbert then slammed Paramount with a mock statement announcing that its 'dignity' could be bought 'for the low, low price of $16 million.' While it remains unsubstantiated that he was ousted specifically for this monologue, many are confident that's the case. 'CBS canceled Colbert's show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump - a deal that looks like bribery,' Sen. Elizabeth Warren (D-Mass.) wrote Friday on X, formerly Twitter. 'America deserves to know if his show was canceled for political reasons,' she continued. Related... CBS Cancels 'Late Show,' Ending Stephen Colbert's Run After Decades On Air Jimmy Kimmel Drops Epic F-Bomb On CBS For Canceling Colbert's Show 'Looks Like Bribery!': Critics Say This 1 Colbert Joke May Have Gotten 'Late Show' Canceled
