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CNBC
11 hours ago
- Business
- CNBC
5 things to know before the Wednesday open: Trade deal, egg prices, new member of memeland
Investors are turning their attention to earnings reports from Tesla and Alphabet due after the bell. They are the first megacap tech companies — a group that's been closely watched due to its market leadership in recent years — to release results this quarter. Tesla's report comes as traders continue assessing the business ramifications of CEO Elon Musk's political involvement. For those keeping score, it's the worst-performing "Magnificent Seven" stock so far this year. Meanwhile, investors are wondering what Google parent Alphabet will have to say, as the search and advertising landscape continues to shift amid the artificial intelligence boom. Big news on the tariff front: President Donald Trump announced what he called a "massive" trade deal with Japan on Tuesday. As part of the agreement, Trump said in a Truth Social post that there will be 15% "reciprocal" duties on Japan's goods, and that Japan will invest $550 billion into the U.S. The president said in the post that it was "perhaps the largest Deal ever made." The news comes ahead of the White House's Aug. 1 deadline for U.S. trading partners to start paying Trump's steep tariffs. Futures tied to the Dow Jones Industrial Average climbed before the bell on Wednesday, following the announcement. Follow live market updates here. Egg lovers who were left scrambling from shortages earlier this year should be able keep calm and carry on. Producer Cal-Maine said in its earnings report on Tuesday that its average number of laying hens in its fourth fiscal quarter of 2025 climbed 18% compared with the same period a year prior. What's more, Cal-Maine saw breeder flocks grow 48% at the end of the quarter versus a year ago, and the total number of chickens hatched during the three-month period jumped 56% year over year. While the Mississippi-based company acknowledged that future bird flu outbreaks — like the one that recently roiled supply — cannot be predicted, Cal-Maine said the data bodes well for shoppers hoping to see the staple food item on grocery store shelves. Over the last few days, the biggest companies in the soft drink industry have announced new offerings to woo increasingly health-conscious shoppers. The first headline came from PepsiCo, which on Monday shared plans to launch a prebiotic version of its namesake cola this fall. Pepsi's beverage will contain three grams of prebiotic fiber and five grams of cane sugar. Meanwhile, Coca-Cola said Tuesday that it will release a version of its titular soda made with cane sugar in the U.S. — also set for a fall debut. Coke has sweetened its soda in the U.S. with high-fructose corn syrup since the 1980s, but cane sugar is a familiar product for the company as it's already used for soft drinks in markets like Mexico. Believe it or not, there's a political angle here: Coca-Cola's announcement came nearly a week after Trump — an avid fan of the Diet Coke brand — said he was talking with the company about using cane sugar in its U.S. products. In Tuesday's edition of this newsletter, you learned about Opendoor Technologies, the real estate e-commerce company that fit the profile of a meme stock. The latest name to join the meme stock ranks is one you're likely much more familiar with: Kohl's. (Yes, Kohl's.) The stock soared more than 37% in Tuesday's session with no clear catalyst, to use Wall Street lingo. However, as CNBC's Gabrielle Fonrouge pointed out, the stock has become a topic du jour on the popular Wall Street Bets Reddit page, given its high level of shorting interest and status as a household name. Opendoor investors, on the other hand, had a bad day, with shares finishing Tuesday's session down more than 10%. —
Yahoo
21-06-2025
- General
- Yahoo
Parties and proclamations: Juneteenth across the diaspora
Hello and welcome to The Long Wave. I'm Adria R Walker, a Mississippi-based race and equity reporter for the Guardian US, and I'm excited to be taking over this week. I've been working on a story about the ways Black American communities have celebrated – in many cases, for centuries – the formal end of slavery, which is variously called Emancipation Day, Freedom Day, Jubilee Day and, perhaps most famously, Juneteenth. My article will be published on 19 June, Juneteenth, a federal holiday that was enshrined into law four years ago. In doing this reporting, I've learned a lot about the holiday that I grew up celebrating. For this week's edition of the newsletter, I'll guide you through what Emancipation Day can look like in the US and its legacy. In 1863, President Abraham Lincoln signed the emancipation proclamation, which abolished slavery in the states that had seceded during the civil war, though slavery was abolished nationwide when the 13th amendment was ratified on 6 December 1865. News of the proclamation spread varyingly. Some southern enslavers attempted to outrun the order and the Union soldiers who brought news of it, moving the people they had enslaved farther and farther west until the army caught up with them. In Galveston, Texas, it was not until 19 June 1865 that people who were enslaved found out about the declaration. News of that freedom was enshrined in Juneteenth, celebrated annually by Galvestonians and nearby Houstonians. While Juneteenth has become the most famous emancipation celebration, it is far from the only one. I had the idea for the story a couple of years ago, on 8 May 2023, when I became curious about how communities across the south celebrated emancipation historically and in the present day. On that day, the Mississippi Civil Rights Museum, one of the Two Mississippi Museums in Jackson, my home town, had shared a newspaper clipping on Instagram about a historic Emancipation Day celebration on 8 May. The 8 May celebrations, which are still observed by the Mississippi School of Mathematics and Science and the local community, began in 1865, when Union soldiers arrived in Columbus to inform the enslaved people that they were free. Elsewhere, 8 August commemmorates the day the former president Andrew Johnson manumitted (freed) the people he had enslaved – the emancipation proclamation had not applied to Tennessee or West Virginia. William Isom, the director of Black in Appalachia, tells me that Samuel Johnson, a formerly enslaved person, is credited with the spread of 8 August celebrations. In Florida, the day is celebrated on 20 May, honouring that date in 1865 when Union troops read and enforced the emancipation proclamation at the end of the civil war. In Gallia County, Ohio, they have marked 22 September 1862, the day on which Lincoln drafted the emancipation proclamationsince 1863 – making it one of the longest-running emancipation celebrations in the country, Isom says. Some communities have celebrated 1 January since 1863, when Lincoln signed the proclamation, while others celebrate 31 December, or Watch Night, when enslaved and freed Black Americans gathered to hear news of the emancipation proclamation. Watch Night is still observed in Black communities across the south, including in the Carolinas, where Gullah Geechee people observe Freedom's Eve, and elsewhere. As a child, I attended Watch Night services at church in Mississippi, though I didn't appreciate the significance at the time. Whenever and wherever slavery was abolished, formerly enslaved people observed and celebrated the day – this is consistent across the African diaspora. I knew about Emancipation Day festivities in the Caribbean and in Canada, for example, though they are different from those in the US, but I didn't know such celebrations extended to the northern US. In Massachusetts, Emancipation Day, also known as Quock Walker Day, is on 8 July. Quock Walker, born in 1753, sued for and won his freedom in 1781. His case is considered to have helped abolish slavery in Massachusetts. In New York State, the Fifth of July was first celebrated in 1827, an event first held the day after full emancipation was achieved there. After the British empire ended slavery in 1838, many areas in the north began to observe 1 August. In Washington DC, on 16 April, people commemorate the anniversary of the 1862 signing of the District of Columbia Compensated Emancipation Act, which abolished slavery and freed about 3,000 people in the capital. Under the act, former enslavers were compensated for the people they had enslaved, a common practice during efforts to end slavery around the world. However, the people who had been enslaved did not receive compensation. I vaguely remember attending my first Juneteenth celebration as a little girl. Farish Street, a historic Black district in Jackson, was abuzz with people. Despite it being the middle of summer in Mississippi, the heat didn't stop folks from coming out to eat, dance and socialise. The state is relatively close to Texas – it is about a six-hour drive from Jackson to Houston – so we have quite a bit of cultural overlap. It made sense that we would share holidays. Like many other cultural traditions, Juneteenth spread across the country with the arrival of southern people during the great migration. In the decades since, Juneteenth has been catapulted from a local or regional event to a national and international one – last year, for example, I was invited to attend a Juneteenth event in Toronto, Canada. Other emancipation commemorations travelled, too. The 8 August celebrations, for example, moved throughout Appalachia, through coal country and into urban metropolises such as Chicago, Indianapolis and Detroit. Historically, the holiday included celebratory aspects – eating traditional foods, hosting libations, singing, dancing and playing baseball – but also a tangible push for change. Celebrants would gather to find family members from whom they had been separated during slavery, attend lectures and advocate for education, and practise harnessing their political power – something that was particularly relevant in the reconstruction days. For Isom, Juneteenth can become a day that the entire country comes together to celebrate freedom, while communities' specific emancipation celebrations can be hyper-local and hyper-specific. 'Even in [places] where there's not necessarily many Black folks at all, they're having the Juneteenth events,' he says. 'And so the local celebrations – like for here, 8 August or 22 September – that's where I feel like communities can showcase and celebrate their own cultures and traditions around Emancipation Day. We need both.' To receive the complete version of The Long Wave in your inbox every Wednesday, please subscribe here.
Yahoo
19-06-2025
- Business
- Yahoo
Three Mississippi-based HBCUs look to expand AI Education
The post Three Mississippi-based HBCUs look to expand AI Education appeared first on ClutchPoints. A $9.1 million higher education grant awarded to the state of Mississippi will help three HBCUs to increase entrepreneurship, job training, and artificial intelligence (AI) education. Jackson State University, Tougaloo College, and Alcorn State University will benefit from the multi-million-dollar grant. Governor Tate Reeves announced the funds through the Mississippi AI Talent Accelerator Program (MAI-TAP) on June 12, 2025, with the goal of bolstering the state's workforce and economic future, according to WJTV 12 News. To increase its influence, each institution will look for private financing and resources in addition to public assistance. 'This is another bold step forward for Mississippi,' Reeves said. 'We're not just preparing for the future—we're building it. This investment will help to ensure that Mississippians are equipped with the skills needed to thrive in a rapidly evolving digital economy.' The Executive On Roster (XOR) program, which will spearhead a statewide effort to introduce students, educators, and entrepreneurs to emerging technology through experiential learning, was granted $1.3 million to Jackson State University, administered by AccelerateMS. Consulting teams of Jackson State students will also strive to provide small firms AI-powered assistance. 'We are grateful for this investment in Jackson State University's mission to expand access to emerging fields,' JSU Interim President Denise Gregory, Ph.D., said in a news release. 'This grant affirms the quality of our faculty and programs and allows us to give students the knowledge and experience to navigate and contribute to the world they are entering. It's another step forward in our work to serve students and communities through innovation and opportunity.' According to WJTV, Tougaloo College received $1.08 million to create a fund to provide students in all disciplines with access to AI-related ideas and employ new faculty members in the fields of AI and machine learning. $1.15 million was awarded to Alcorn State University to train people in southwestern Mississippi in digital literacy and artificial intelligence and to use its School of Nursing to implement telehealth tools to increase access to healthcare in underprivileged rural areas. The University of Southern Mississippi, Mississippi State University, and Mississippi College were among the other state universities that received awards. The funding comes in the wake of an executive order signed by President Donald Trump on April 23 that 'established' a White House Initiative to support HBCUs' excellence and innovation.' Expanding access to federal and state grants, supporting institutional and workforce development in sectors like technology, health care, manufacturing, and finance, and establishing an annual White House HBCU Summit to establish partnerships and set goals are all part of the initiative's mission to improve educational quality through private-sector partnerships. 'HBCUs are essential to fostering opportunity, economic mobility, and national competitiveness, serving as engines of success for American students,' a White House press release stated. 'HBCUs have made extraordinary contributions to the general welfare and prosperity of the United States while producing many leaders in business, government, academia, and the military. Nearly 300,000 individuals annually pursue their dreams at HBCUs throughout the United States. These institutions generate $16.5 billion in annual economic impact and support over 136,000 jobs, strengthening communities and the nation.' Related: 'Love Island' winner nabs role in HBCU series on Keke Palmer network Related: Marva Johnson officially named 13th president of Florida AM
Yahoo
19-06-2025
- Business
- Yahoo
Marva Johnson officially named 13th president of Florida A&M
The post Marva Johnson officially named 13th president of Florida A&M appeared first on ClutchPoints. After much protest, Marva Johnson has officially been named the 13th president of Florida A&M. She was confirmed for the position following a unanimous vote by the Florida Board of Governors on Wednesday afternoon at Florida Atlantic University's campus. 'Under my leadership, I don't expect FAMU to just survive,' Johnson said during the meeting. 'I expected it to thrive.' Johnson, currently Vice President of State Government Affairs for Charter Communications, served eight years on the Florida State Board of Education. She was appointed for a first four-year term by Governor Rick Scott and later reappointed for a second term by Governor Ron DeSantis. Florida A&M supporters protested her candidacy for the presidency due to her ties to DeSantis and her lack of experience in running a university. 'If I was to seat a CEO or president of a business, I would not hire the president of a university which had no experience in business,' Florida A&M Boosters president Zachary Ansley in a comment during the town hall in May. 'By that token, I say, why are we even considering a person that has a great resume in business, but no educational background?' However, despite the outcry from the university community, Johnson was voted to be the next president by the Florida A&M Board of Trustees in an 8-4 decision on May 16th. Over a month later, the Florida Board of Governors made her hire official. Chairman of the Florida Board of Governors Brian Lamb commented about her hire in a statement, saying, 'Marva Johnson's confirmation as the next president of FAMU marks a new chapter in the university's legacy. Her visionary leadership, deep commitment to improving outcomes for students, and passion for innovation will be the catalyst for FAMU to build on the rich tradition and have a greater impact on the local community, the state, and the nation.' Johnson, whose tenure starts on August 1st, said, 'It is a profound honor to be selected as the 13th president of Florida A&M University—a historic institution with a rich legacy shaped by giants,' said Johnson. 'As president, I recognize the legacy I carry and remain committed to protecting and extending that legacy and FAMU's mission, while fighting to ensure that we are positioned for success in the evolving higher education landscape. I am ready to bring a bold, business-minded, results-driven approach to advancing student success, financial sustainability, and long-term institutional growth.' Related: 'Love Island' winner nabs role in HBCU series on Keke Palmer network Related: Three Mississippi-based HBCUs look to expand AI Education
Yahoo
10-06-2025
- Yahoo
Going! Going! Almost gone! Milwaukee's abandoned boat 'Deep Thought' set for public auction
Milwaukee County plans to move ahead with publicly auctioning off Deep Thought, the abandoned boat that was stranded on Lake Michigan's shoreline, provided the county can acquire legal ownership before bidding can begin. "The issue with ownership is Milwaukee County does not have title to this property," James Tarantino, deputy director of Milwaukee County Parks told the county's Parks and Culture committee on June 10. "Because it's now been abandoned, and is really more like a sculpture than a boat, we're trying to determine what that legal bill of sale looks like." Tarantino said that the county is primed to list the boat at auction as soon as the legal details are ironed out in the coming days or weeks. Mississippi-based couple Sherry and Richard Wells left Deep Thought on the lakeshore between Bradford and McKinley beaches after running out of gas during a thunderstorm in mid-October. In May, given the questionable nature of the boat's ownership as well as the Wellses' inability to pay for the boat's removal, it was determined that the county was responsible for salvaging the boat. "At the end of the day, I don't want the county to be on the hook for this," Supervisor Steve Taylor said. In May, the county was left with a $50,000 bill from Milwaukee-based company, All City Towing, for removing the abandoned boat that saw many well-wishers bidding the boat farewell. The county received $30,000 in donations from the Daniel W. Hoan Foundation and an anonymous donor to help cover costs for its removal, still leaving a $20,000 dent in the county's coffers. "I think a summer auction is the way to go," said Supervisor Sheldon A. Wasserman, whose district was home to Deep Thought. "Let's strike right now when the interest in the boat is at its highest." County Corporation Counsel attorney Scott Brown has not ruled out filing legal actions to recover costs, potentially in federal court or another state. "Short version of it, I think, at this point, it's what I would call drilling a dry well. I don't know if these people are collectible. From what my understanding is they are of I think modest means," Brown told supervisors. "We could get a judgment against them, but it may not be worth the paper." Brown said he is still evaluating legal avenues. "This is a bad precedent, you know, that somebody can just leave their boat on Milwaukee County property, and we have to take care of it," Supervisor Steven Shea said. "This is about as big a public nuisance as we can get." In May, Wisconsin lawmakers proposed a new bill that could subject any boat owners who abandon their watercrafts for longer than a month to prison time. Supervisors also asked about the possibility of establishing a policy or action plan if a similar situation arises in the future. While Tarantino said he is waiting to see how the state legislation plays out, he is reluctant to establish something as concrete as policy given the unique nature of the Deep Thought incident compared with most boats that moor on Lake Michigan's shoreline. Tarantino applauded the fact that the County Board raised the fees for illegal dumping earlier this year. "That's an example of a policy that we think is a good deterrent," he said. "We are absolutely committed to dealing with these problems as they come up. We're just unfortunately not resourced if this continues to happen more frequently." Contact Vanessa Swales at 414-308-5881 or vswales@ Follow her on X @Vanessa_Swales. This article originally appeared on Milwaukee Journal Sentinel: Milwaukee's abandoned boat Deep Thought headed to public auction
