The Mexican government said it was unaware that two US officials took part in an operation to dismantle a drug lab in northern Mexico, a development that threatens to escalate tensions with Washington over security and sovereignty. The US officials died shortly after the operation. At a press briefing, President Claudia Sheinbaum said Mexican security officials involved in the effort were never to...
The Mexican government said it was unaware that two US officials took part in an operation to dismantle a drug lab in northern Mexico, a development that threatens to escalate tensions with Washington over security and sovereignty. The US officials died shortly after the operation. At a press briefing, President Claudia Sheinbaum said Mexican security officials involved in the effort were never told about the presence of foreigners, which she described as a clear breach of security protocols. A person familiar with the matter confirmed that the two US nationals worked for the CIA. “The Defense Ministry was unaware that there were individuals involved who were not Mexican citizens and who were not affiliated with state security agencies,” Sheinbaum said on Wednesday. “This is something that should not be taken lightly.” The president emphasized that communications with the US government, especially on matters related to security, must go through Mexico’s federal government.
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Stocks advanced Wednesday on news that President Donald Trump extended the ceasefire agreement between the U.S. and Iran. A batch of solid earnings, including from Club names Boeing and GE Vernova , also helped lift the market. Jim Cramer said ...
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Stocks advanced Wednesday on news that President Donald Trump extended the ceasefire agreement between the U.S. and Iran. A batch of solid earnings, including from Club names Boeing and GE Vernova , also helped lift the market. Jim Cramer said that when war worries abate, stocks can trade on earnings. "What you can do is look to stocks that do really well and actually expect them to go up," he said. However, the S & P Short Range Oscillator still points to a very overbought market, despite coming down a bit after back-to-back losses for the S & P 500 and the Nasdaq . 2. GE Vernova surged over 12% after a blowout quarter. After a move like that, Jim said, "You have to hold this [stock] because this may be one for the ages." The company topped expectations, with revenue up 16% year over year to $9.3 billion. GE Vernova saw strong equipment orders, leading management to expect to reach a $200 billion backlog in 2027, a year sooner than anticipated. Power equipment pricing for the first half of 2026 is also expected to go up. Jim added that GE Vernova is the best company out there, with its natural gas turbines and other products, to power data centers. 3. Honeywell and Dover report earnings Thursday morning. Jim warned that Honeywell shares often perform poorly after earnings. Be patient. He said it's impossible to get out and get back into the stock, noting Honeywell is moving closer to the breakup catalyst we've been waiting for. As for Dover, the company expects a year of accelerating growth, according to recent commentary from CEO Richard Tobin. We'll see if that starts to show up in the numbers. However, Jim is not too hot on the stock. "I'm putting Dover on that short leash," he added. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Vertiv , AT & T , United Airlines , Best Buy , and A...
Rivian’s new R2 model has begun rolling off the manufacturing floor in Normal, Illinois, despite damage to the factory from a tornado over the weekend. The smaller, more affordable SUV is seen as crucial to driving profitability for the electric vehicle maker. Rivian CEO RJ Scaringe joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
Rivian’s new R2 model has begun rolling off the manufacturing floor in Normal, Illinois, despite damage to the factory from a tornado over the weekend. The smaller, more affordable SUV is seen as crucial to driving profitability for the electric vehicle maker. Rivian CEO RJ Scaringe joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
Elon Musk waves to the crowd during the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. Denis Balibouse | Reuters Tesla reports first-quarter results after the bell on Wednesday. Here's what Wall Street is expecting, according estimates compiled by LSEG: Earnings per share : 37 cents estimated Revenue : $22.64 billion estimated Tesla has underperformed all o...
Elon Musk waves to the crowd during the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 22, 2026. Denis Balibouse | Reuters Tesla reports first-quarter results after the bell on Wednesday. Here's what Wall Street is expecting, according estimates compiled by LSEG: Earnings per share : 37 cents estimated Revenue : $22.64 billion estimated Tesla has underperformed all of its megacap peers on Wall Street so far this year, with the stock down 14% as of Tuesday's close, weighed down by lackluster sales in the company's core automotive business. The S&P 500 is up more than 3%. Analysts expect revenue growth of about 17% from $19.3 billion a year earlier. That would mark the company's most robust period for growth since mid-2023. The past year has been a struggle due to competitors like China's Xiaomi and BYD, which offer high-tech but lower cost models against Tesla's aging lineup of EVs. Tesla also faces an ongoing consumer backlash in response to CEO Elon Musk's work with the Trump administration, his incendiary political rhetoric and endorsements of far-right political figures. Earlier this month, Tesla reported 358,023 vehicle deliveries for the first quarter, which was lower than the prior quarter and up about 6% from a year earlier. Tesla has recorded annual declines in the past two years. Musk has been trying to change the narrative by focusing on the company's efforts in self-driving technology and humanoid robots. While the company is testing a small number of driverless cars in its ride-hailing service in Texas, Tesla still relies on EV sales for the bulk of its revenue, and doesn't yet sell a robotaxi-ready vehicle. Tesla does sell an FSD (Supervised) system for $99 per month but it requires active supervision by a human who remains attentive to the road and ready to steer or brake at any time. The company recently scored permission to sell a version of FSD (Supervised) in the Netherlands, and is seeking broader approval in Europe....
Earnings Call Insights: Masco Corporation (MAS) Q1 2026 Management view "Jai Shah, Group President, Plumbing and Wellness; and Rick Marshall, Vice President of Masco Operating System, recently announced their intent to retire from Masco later this summer" (President, CEO & Director Jonathon Nudi). "With Jai's retirement... the leaders of our 4 largest businesses: Delta, Hansgrohe, BEHR and Watkins...
Earnings Call Insights: Masco Corporation (MAS) Q1 2026 Management view "Jai Shah, Group President, Plumbing and Wellness; and Rick Marshall, Vice President of Masco Operating System, recently announced their intent to retire from Masco later this summer" (President, CEO & Director Jonathon Nudi). "With Jai's retirement... the leaders of our 4 largest businesses: Delta, Hansgrohe, BEHR and Watkins Wellness will now all report directly to me... we are adding 2 new leaders to our executive committee with expertise in supply chain and procurement." "Our integration of Liberty Hardware into Delta Faucet Company is on track" and "Restructuring actions to streamline our business, reduce headcount and optimize operations are ongoing" (President, CEO & Director Jonathon Nudi). "We incurred approximately $8 million in restructuring charges in the first quarter, and we continue to expect approximately $50 million in total charges in 2026." "Net sales increased 6%" and "Earnings per share grew 20% during the quarter to $1.04 per share" (President, CEO & Director Jonathon Nudi). "Plumbing product sales increased 7% in local currency" with "International plumbing sales increased 1% in local currency... partially offset by the ongoing weak market in China." "Our strong cash flow allowed us to return $267 million to shareholders this quarter" (President, CEO & Director Jonathon Nudi). "We believe it is prudent to maintain our 2026 earnings per share guidance in the range of $4.10 to $4.30 per share" and "our sales will now be up low single digits for 2026" (President, CEO & Director Nudi). "Operating profit grew 13% to $324 million" and "Gross margin expanded 10 basis points to 36%" (VP, CFO & Treasurer Richard Westenberg). "Operating profit was driven by pricing actions and cost savings initiatives partially offset by higher tariff and commodity costs." Outlook "We expect 2026 sales to be up low single digits versus our previous guide of flat to up low single digits" and "we cont...
Michael Vi/iStock Editorial via Getty Images Roche ( RHHBF ) ( RHHBY ) has announced plans to seek regulatory review for an experimental therapy for multiple sclerosis, an autoimmune condition affecting the central nervous system, even as its late-stage trial data indicated several patient deaths. On Tuesday, the Swiss drugmaker shared new data from its Phase 3 FENhance 1 and 2 studies, which test...
Michael Vi/iStock Editorial via Getty Images Roche ( RHHBF ) ( RHHBY ) has announced plans to seek regulatory review for an experimental therapy for multiple sclerosis, an autoimmune condition affecting the central nervous system, even as its late-stage trial data indicated several patient deaths. On Tuesday, the Swiss drugmaker shared new data from its Phase 3 FENhance 1 and 2 studies, which tested its MS therapy fenebrutinib against teriflunomide, a rival drug marketed by Sanofi ( SNY ) as Aubagio. The oral Bruton’s tyrosine kinase (BTK) inhibitor had already met the primary endpoints related to annualized relapse rates in FENhance 1 and 2, as well as one related to non-inferiority against Roche’s ( RHHBY ) own MS therapy Ocrevus in its FENtrepid Phase 3 trial. However, citing seven deaths in the fenebrutinib arm across both FENhance 1 and 2 trials, the company attributed the fatalities to factors including infections and complications linked to type 1 diabetes. “The collective positive results across all three pivotal studies demonstrate that fenebrutinib consistently showed a profound benefit on relapsing and progressive disease biology,” Roche ( RHHBY ) said, adding that it will submit data from all three trials to regulators. In February, citing epidemiological studies, the company said that fatality rates are higher in MS patients compared to the general population after results from FENtrepid indicated a 1.4% mortality rate in the fenebrutinib arm. More on Roche Holding Roche Vs. Eli Lilly: Nvidia Deals, Obesity Battles Stoke Rivalry (I'd Buy Both) Roche Holding AG (RHHBY) Discusses Phase III Study Results and Updates on Immunology Kidney Pipeline - Slideshow Roche Falters In A Key Breast Cancer Readout FDA accepts Roche application for Gazyva/Gazyvaro in common lupus treatment Sarepta/ Roche Duchenne therapy to face new late-stage trial targeting EU nod
Lawyers for oligarch claim freezing of £5.3bn of assets ‘unfair and abusive’ amid row over use of funds for Ukraine Roman Abramovich has gone to the European court of human rights (ECHR), claiming that a criminal investigation into his financial affairs by the Jersey authorities has breached his human rights, according to reports. The former owner of Chelsea FC, who is under UK sanctions over his ...
Lawyers for oligarch claim freezing of £5.3bn of assets ‘unfair and abusive’ amid row over use of funds for Ukraine Roman Abramovich has gone to the European court of human rights (ECHR), claiming that a criminal investigation into his financial affairs by the Jersey authorities has breached his human rights, according to reports. The former owner of Chelsea FC, who is under UK sanctions over his links to Vladimir Putin, is being investigated in Jersey over allegations of corruption and money laundering. Continue reading...
Ole_CNX/iStock via Getty Images Markets remain fixated around the Strait of Hormuz, and when and if this global chokepoint will reopen. Concerns around the private credit markets have been increasing since new problems in the space came to light with Blue Owl Capital ( OWL ) late in February. Worries around a potential AI Bubble have faded in the background a bit after the markets have rebounded s...
Ole_CNX/iStock via Getty Images Markets remain fixated around the Strait of Hormuz, and when and if this global chokepoint will reopen. Concerns around the private credit markets have been increasing since new problems in the space came to light with Blue Owl Capital ( OWL ) late in February. Worries around a potential AI Bubble have faded in the background a bit after the markets have rebounded sharply from the recent lows in the first half of March. GuruFocus There certainly are myriad concerns for prudent investors heading into the November mid-terms and with equities trading at such extreme valuations using numerous traditional valuation metrics. So, what are some ' off the radar ' gray swans that could knock the market for a loop in the months ahead. Here are three I think are most likely things that could blindside investors before the end of 2026. Housing: FRED Thanks largely to cheap money from the Federal Reserve (the M2 money supply increased by roughly 40% in the two years following Covid) and sub-3% mortgage rates for the first time in U.S. history (thanks largely to the Fed buying huge numbers of mortgage backed securities or MBS), the value of the U.S. residential real estate market rose to over $55 trillion by the summer of 2025, from roughly $35 trillion before the pandemic. Zillow, Wolf Street Home price appreciation has slowed dramatically in recent years as mortgage rates have more than doubled from their lows. Average year-over-year home prices would be negative if not for the still solid luxury home market. You can see the cracks and divergence in the housing market, by looking at what is happening in the condo market. This is traditionally the area heavily inhabited by entry level buyers. Wolf Street, NAR The pivotal spring selling season is off to a rough start. March existing home sales dropped 3.6% on a month-over-month basis. This was the worst monthly performance since November 2022. As can be seen above, the months of supply of existing s...
Earnings Call Insights: Sonoco Products Company (SON) Q1 2026 Management View Robert Coker (President, CEO & Director) said Q1 adjusted EPS was "$1.20" and attributed the result to "strong productivity savings, favorable price/cost environment and a successful start to our profitability performance plan despite lower volume mix." Quote (President Coker): "I was really proud of our team's performan...
Earnings Call Insights: Sonoco Products Company (SON) Q1 2026 Management View Robert Coker (President, CEO & Director) said Q1 adjusted EPS was "$1.20" and attributed the result to "strong productivity savings, favorable price/cost environment and a successful start to our profitability performance plan despite lower volume mix." Quote (President Coker): "I was really proud of our team's performance in the first quarter despite severe winter weather... a fire that destroyed our recycling facility in Greenville, South Carolina and the effects of rapidly changing macroeconomic conditions stemming from the Middle East conflict." Quote (President Coker): "Based on current estimates, we believe this inflation could add between $8 million to $10 million in additional costs in the second quarter." Quote (President Coker): "We must recover this inflation and have implemented a number of necessary price increases, including a $70 per ton uncoated recycled paperboard increase in the U.S. and an EUR 80 per ton increase in Europe, along with other pricing actions." Robert Coker (President, CEO & Director) highlighted portfolio and growth actions, including a new paper can plant in Thailand that is expected to produce "approximately 200 million units" annually, and said the company is investing "$20 million" in an automated nailed wood reel production line that is expected to increase capacity by "15%." Quote (Chief Financial Officer Paul Joachimczyk): "Net sales from continuing operations were $1.7 billion, down 2% year-over-year." Outlook Paul Joachimczyk (Chief Financial Officer) said, "We are maintaining our full year outlook" and added that results are "expected to trend towards the lower end of the range" amid "continued macroeconomic and geopolitical uncertainty." Quote (CFO Joachimczyk): "For the full year, we expect sales of $7.25 billion to $7.75 billion. adjusted EBITDA of $1.25 billion to $1.35 billion, adjusted EBITDA of $5.80 to $6.20, with results expected to tren...
Millstreet Capital Management, a 10% owner of Diebold Nixdorf (NYSE:DBD) , reported the indirect sale of 112,305 common shares in multiple open-market transactions valued at approximately $9.55 million, according to the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($85.08). * 1-year performance calculated using April 16, 2026 as the reference date. Cont...
Millstreet Capital Management, a 10% owner of Diebold Nixdorf (NYSE:DBD) , reported the indirect sale of 112,305 common shares in multiple open-market transactions valued at approximately $9.55 million, according to the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($85.08). * 1-year performance calculated using April 16, 2026 as the reference date. Continue reading
The war in Iran is developing into a game of brinkmanship over the critical Strait of Hormuz. Donald Trump yesterday extended a ceasefire after the two sides failed to meet for more peace talks. But tensions remain high and the danger is escalating. The US president is maintaining a naval blockade of ships going to and from Iran’s ports. Even so, at least two fully laden Iranian tankers went dark,...
The war in Iran is developing into a game of brinkmanship over the critical Strait of Hormuz. Donald Trump yesterday extended a ceasefire after the two sides failed to meet for more peace talks. But tensions remain high and the danger is escalating. The US president is maintaining a naval blockade of ships going to and from Iran’s ports. Even so, at least two fully laden Iranian tankers went dark, and sailed out of the Persian Gulf this week carrying as much as 4 million barrels of oil. Tehran, meanwhile, is keeping a tight grip on waterway, controlling passage through the trade route, and firing on two ships in the area. Against that backdrop, oil inched higher towards $100 a barrel today in London. The two sides remain far apart on key issues, and it’s still far from clear when or if they can reach a deal to end hostilities that have killed thousands, rattled markets and sparked a global energy crunch. — Caroline Alexander What You Need to Know Today Ukraine repaired the Druzhba pipeline and flows have resumed to Hungary and Slovakia. Now, it will finally start receiving a €90 billion ($106 billion) European Union loan it needs to fund the war, more than four years after Russia’s full-scale invasion. Outgoing Hungarian Prime Minister Viktor Orban had accused Ukraine of slow-walking repairs to harm his re-election prospects and retaliated by blocking the borrowing , but on Sunday his government signaled it was ready back down if oil started flowing again. In Russia, the oil windfall triggered by the Iran war is unlikely to help Vladimir Putin revive his country’s economy as it teeters on the edge of recession . The president acknowledged the trouble publicly last week, demanding that ministers and the central bank explain why growth is slowing despite his insistence that a downturn must be avoided. The problem is that fiscal spending is already swelling demand, but not supply, as resources are funneled into military production. Deutsche Telekom is considering a ful...