EXPLAINED: 58 | Vintage Vibes

IBM Spooks Investors With Sub-Optimal Outlook

International Business Machines Corp. (NYSE:IBM) on Tuesday released preliminary second-quarter results that fell short of its expectations, citing weaker-than-anticipated mainframe-related sales as customers shifted spending toward supply-constrained servers, storage, and memory infrastructure.

Benzinga · Jul 14

Apple Defies Smartphone Slump With Record Market Share

Apple Inc. (NASDAQ:AAPL) continued to outperform the broader smartphone market in the second quarter, but analysts caution that the industry’s worsening memory shortage could weigh on demand for the rest of the year.

Benzinga · Jul 14

Meta Stock Just Surged 21% in 3 Weeks: Shay Boloor Calls It the 'Market's Latest Darling'

Meta Platforms Inc. (NASDAQ:META) has officially transformed from a cautionary tale of extreme capital expenditure into the “market’s latest darling,” following a rapid 20.97% stock rally in roughly three weeks, driven by a radical shift in how Wall Street values the tech giant’s artificial intelligence infrastructure.

Benzinga · Jul 14

Stock Market Today: Dow, S&P 500, Nasdaq 100 Futures Rise on Better-Than-Expected CPI Data—Tower Semiconductor, Twin Vee, JPMorgan In Focus (UPDATED)

U.S. stock futures pared losses to advance on Tuesday, as the Nasdaq 100, Dow Jones and S&P 500 indices gained, following Monday’s lower close.

Benzinga · Jul 14

Mohamed El-Erian Says Kevin Warsh Is 'Serious' About Reforming the Fed, Restoring Political Independence

Noted Economist Mohamed El-Erian praised the new Federal Reserve Chair Kevin Warsh‘s new appointments, saying they demonstrate a “serious” commitment to reforming and strengthening the central bank.

Benzinga · Jul 14

Trump's Strait of Hormuz Blockade Could Push Oil Higher, Gas Prices Could Reach $4 a Gallon, Analyst Says

GasBuddy analyst Patrick De Haan on Monday cautioned against gas prices in the U.S. likely spiking as tensions between Washington and Tehran escalate over the Strait of Hormuz.

Benzinga · Jul 14

Trump Admin Rescinds $10 Billion Child Care Funding Freeze for Five Democratic-Led States

The U.S. Department of Health and Human Services on Monday rescinded its $10 billion freeze on child care subsidies and social services funding for five Democratic-led states, withdrawing the orders that triggered a legal battle earlier this year.

Benzinga · Jul 14

Trump Endorses Lindsey Graham's Russia Sanctions Bill With 500% Tariffs on Russian Energy Buyers: Report

President Donald Trump is backing a revised version of the late Sen. Lindsey Graham’s Russia sanctions bill, giving fresh momentum to legislation that would impose tariffs of at least 500% on countries buying Russian energy.

Benzinga · Jul 14

Palantir CEO Alex Karp Warns AI Could Become America's Biggest Driver of Wealth Inequality: 'You Now Have a Revolution Where…'

Palantir Technologies Inc. (NASDAQ:PLTR) CEO Alex Karp warned that AI could become the biggest driver of wealth inequality in the U.S., saying that while the technology is likely to improve the standard of living for the average person, the biggest gains will only go to those leading the AI industry.

Benzinga · Jul 14

Gavin Newsom Unveils $3,500 California EV Rebate, Says State Is Filling 'Void Left by Trump'

Gov. Gavin Newsom (D-CA) officially launched California’s Zero Emission Vehicle (ZEV) rebate program on Monday, targeting first-time buyers with an instant $3,500 discount on electric vehicles, part of the SB 168 bill in California.

Benzinga · Jul 14