Welcome to Bloomberg’s California Edition—covering all the events shaping one of the world’s biggest economies and its global influence. Join us each week as we put a unique lens on the Golden State. Sign up here if you’re not already on the list. California is at the epicenter of a wealth boom that’s minting a new class of billionaires out of college dropouts, Suits aficionados and San Francisco ...
Welcome to Bloomberg’s California Edition—covering all the events shaping one of the world’s biggest economies and its global influence. Join us each week as we put a unique lens on the Golden State. Sign up here if you’re not already on the list. California is at the epicenter of a wealth boom that’s minting a new class of billionaires out of college dropouts, Suits aficionados and San Francisco 49ers superfans . Even for a region that’s long been known to generate vast riches, it’s a time of unprecedented wealth creation. Almost all of the 19 billionaires that emerged from AI-related US startups in the past year—totaling a combined $59.3 billion—have ties to the Golden State, in particular San Francisco. In the first quarter of this year, a record 85% of all US venture capital money went to California companies. But for every new AI billionaire I see in California, I can’t help thinking of a chart my colleague Justin Fox published last month that showed the striking decline in white-collar jobs in the Golden State compared to the rest of the country. The data comes from Gad Levanon, chief economist at labor-market think tank Burning Glass Institute, who said AI adoption might be one of the causes of the divide. “California is an outlier today,” Levanon wrote in a LinkedIn post . “But outliers in structural transitions often turn out to be early movers.” No wonder political forces in the state have already begun responding. On Thursday, Governor Gavin Newsom signed an executive order “directing California to prepare workers, small businesses, and communities for the economic disruption that artificial intelligence will bring to the workforce.” Up Front Pure corporate nightmare fuel . This week, Meta began laying off roughly 8,000 employees around the globe, in an effort to reduce personnel costs so it can focus on AI. The cuts started in Asia, with local workers getting the message at 4 a.m. Singapore time —yes, you read that right. Another 7,000 workers have also ...
Explore the exciting world of Upstart (NASDAQ: UPST) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of March 25, 2026. The video was published on May 21, 2026. Should you buy stock in Upstart right now? Before you buy stock...
Explore the exciting world of Upstart (NASDAQ: UPST) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of March 25, 2026. The video was published on May 21, 2026. Should you buy stock in Upstart right now? Before you buy stock in Upstart, consider this: Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Upstart wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $475,063!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,369,991!* Now, it’s worth noting Stock Advisor’s total average return is 994% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 21, 2026. Anand Chokkavelu has no position in any of the stocks mentioned. Lou Whiteman has positions in Upstart. Matt Frankel, CFP has positions in Upstart and has the following options: long January 2027 $35 calls on Upstart and short January 2027 $50 calls on Upstart. The Motley Fool has positions in and recommends Upstart. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nas...
Ross Stores Inc. raised its sales and profit guidance after first-quarter results surpassed consensus estimates, aided by strong customer traffic among younger shoppers and the highest same-store growth in the company’s history. The Dublin, California-based off-price retailer reported sales of $6.01 billion in the quarter, surpassing analysts’ expectations of $5.6 billion. Ross reported earnings o...
Ross Stores Inc. raised its sales and profit guidance after first-quarter results surpassed consensus estimates, aided by strong customer traffic among younger shoppers and the highest same-store growth in the company’s history. The Dublin, California-based off-price retailer reported sales of $6.01 billion in the quarter, surpassing analysts’ expectations of $5.6 billion. Ross reported earnings of $2.02 per share, above the average analyst estimate of $1.71 per share. Same-store sales grew 17% in the period, a record for Ross, nearly doubling Wall Street estimates of 8.6%. Ross now expects full-year same-store sales to grow 6% to 7%, compared to 3% to 4% previously, and earnings of $7.50 to $7.74 per share, up from $7.02 to $7.36 before. The company’s optimistic outlook reflects its first-quarter performance and raised second-quarter guidance, management said, with second-half expectations unchanged. Executives said that profit was largely driven by increased customer traffic, not just fuller shopping carts. “That customer count increase continues to get stronger with each quarter,” Chief Executive Officer Jim Conroy said on the company’s earnings call . The strength of results was “broad-based,” Conroy added, with ladies apparel, cosmetics and juniors among the stronger areas. Conroy said that Ross saw a double-digit percentage increase in customer count across income levels, age groups and ethnicities, including among younger shoppers. “That younger customer has really gravitated towards us,” said Chief Operating Officer Michael Hartshorn , adding that Ross is “outperforming virtually every other retailer that we can track” on 18- to 24-year-old customers. While Conroy did not suggest Ross would keep posting gains as large as this quarter’s, he noted that the company should see “very solid” results the remainder of the year. Ross shares gained as much as 9.6% in postmarket trading. The stock had risen roughly 21% this year through Thursday’s close, compared to th...
(RTTNews) - The Japanese stock market on Thursday wrote a finish to the four-day losing streak in which it had slumped almost 1,200 points or 2.7 percent. The Nikkei 225 now sits just above the 44,930-point plateau and it may add to its winnings on Friday. The global forecast for the Asian markets is mixed to higher, with gains from the technology stocks likely offset by weakness from the oil comp...
(RTTNews) - The Japanese stock market on Thursday wrote a finish to the four-day losing streak in which it had slumped almost 1,200 points or 2.7 percent. The Nikkei 225 now sits just above the 44,930-point plateau and it may add to its winnings on Friday. The global forecast for the Asian markets is mixed to higher, with gains from the technology stocks likely offset by weakness from the oil companies. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference. The Nikkei finished modestly higher on Thursday following mixed performances from the financial shares and technology stocks, although the automobile producers were soft. For the day, the index jumped 385.88 points or 0.87 percent to finish at 44,936.73 after trading between 44,659.22 and 45,125.96. Among the actives, Nissan Motor tanked 2.20 percent, while Mazda Motor tumbled 1.98 percent, Toyota Motor shed 0.58 percent, Honda Motor lost 0.53 percent, Softbank Group surged 5.78 percent, Mitsubishi UFJ Financial stumbled 1.92 percent, Mizuho Financial retreated 1.40 percent, Sumitomo Mitsui Financial skidded 1.04 percent, Mitsubishi Electric sank 0.57 percent, Sony Group plunged 2.44 percent, Panasonic Holdings perked 0.19 percent and Hitachi gained 0.65 percent. The lead from Wall Street continues to be cautiously optimistic as the major averages recovered from a midday slump on Thursday to finish with mild gains at fresh record highs. The Dow added 78.62 points or 0.17 percent to finish at 46,519.72, while the NASDAQ gained 88.89 points or 0.39 percent to end at 22,844.05 and the S&P 500 perked 4.15 points or 0.06 percent to close at 6,715.35. The continued advance by the major averages reflected optimism about the artificial intelligence trade, which contributed to strength among tech stocks, especially Nvidia (NVDA) and Advanced Micro Devices (AMD). Meanwhile, traders continued to shrug off concerns about the economic impact of the ongoi...
神译局是 36 氪旗下编译团队，关注科技、商业、职场、生活等领域，重点介绍国外的新技术、新观点、新风向。 编者按：库克即将卸任苹果 CEO，硬件出身的特努斯接棒。苹果硬件持续精进，但软件屡现失误、AI 布局滞后。新任 CEO 能否重塑软件体系、补齐 AI 短板，将成为苹果未来发展的关键看点。本文来自翻译。 苹果新任 CEO 约翰・特努斯与即将就任执行董事长的蒂姆・库克在苹果公园合影（图片来源： A...
神译局是 36 氪旗下编译团队，关注科技、商业、职场、生活等领域，重点介绍国外的新技术、新观点、新风向。 编者按：库克即将卸任苹果 CEO，硬件出身的特努斯接棒。苹果硬件持续精进，但软件屡现失误、AI 布局滞后。新任 CEO 能否重塑软件体系、补齐 AI 短板，将成为苹果未来发展的关键看点。本文来自翻译。 苹果新任 CEO 约翰・特努斯与即将就任执行董事长的蒂姆・库克在苹果公园合影（图片来源： Apple） 当年蒂姆・库克刚接任苹果 CEO 时，科技圈最热议的话题只有一个：乔布斯回归后，接连推出 iMac、iPod、iTunes 音乐商店、iPhone、App Store、iPad 等划时代产品，库克若无法延续这一传奇，苹果的黄金时代便会落幕。 这种看法本身就很片面。2013 年，库克上任第二年我就曾指出，乔布斯时代也是渐进式迭代与突破性创新并行。库克擅长供应链与运营，而非产品创造，因此他的时代以持续优化为主、而非颠覆式创新，这并不意外。这份成绩足以让他成为同期最成功的 CEO 之一，苹果也始终保持着行业头部地位。 最近，外界期待已久的人事落定。库克将于今年 9 月将 CEO 职位交给工程高级副总裁约翰・特努斯（John Ternus），本人则以执行董事长身份继续留任苹果。我们再次需要思考，新掌门会把苹果带向何方。这次交接没有太多戏剧性，外界也不会再对新 CEO 提出过多苛刻要求，考虑到上一轮过度解读毫无意义，这反而是件好事。 但我关注的是，如果说特努斯会在哪一领域超越库克，那就是苹果的软件业务。 特努斯 2001 年加入苹果，最初负责显示模块业务。近年他的曝光度逐步提升，2024 年我还曾就 iPad Pro 专访过他，但在行业外部，他依旧不算大众熟知的人物。外界对他一致评价他是一位极其出色的硬件负责人。 他的口碑，来自苹果设备的持续进化。近几年苹果产品每年都保持着稳定且高质量的迭代，尤其是切换自研芯片后的 Mac 系列，从 2020 款 MacBook Air 到今年的 MacBook Neo，每一款都展现出成熟与领先的产品力。 但库克执掌苹果近 15 年间，软件业务却没能走出同样的上升曲线。我并非否认苹果软件的亮点，比如 Vision Pro 搭载的 visionOS 就堪称杰作，我也期待未来能出现在平价头显上。只是回顾这些年，苹果软件的失误清单远比高光时刻更...
(1:00) - What Can We Takeaway From The Past Stock Market Bubbles? (10:15) - Will AI Be The Next Dot-com Bubble? (21:45) - Breaking Down The Current Valuation of The AI Trade Right Now? (46:45) - Episode Roundup: MSFT, GOOGL, NVDA Podcast@zacks.com Welcome to Episode #486 of the Zacks Market Edge Podcast. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discus...
(1:00) - What Can We Takeaway From The Past Stock Market Bubbles? (10:15) - Will AI Be The Next Dot-com Bubble? (21:45) - Breaking Down The Current Valuation of The AI Trade Right Now? (46:45) - Episode Roundup: MSFT, GOOGL, NVDA Podcast@zacks.com Welcome to Episode #486 of the Zacks Market Edge Podcast. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life. This week, Tracey was joined by Zacks Senior Editor, Mark Vickery, to talk about their experiences being 20-somethings during the dot-com boom in the late 1990s. They were in the beginning of their careers. Tracey was working as a lawyer in San Francisco, the epicenter of the boom. Mark was working in sales at Zacks in Chicago. Online investing had only just begun on platforms like eTrade. Companies were creating websites. Amazon launched and everyone was buying books without going into a store. Stock speculation quickly rose. Some quit their jobs to daytrade. When dot-com companies went public, employees with stock options were getting rich. What lessons do Tracey and Mark have for today’s investors in the AI Revolution? Lessons Learned in the Dot-Com Boom Fear of Missing Out, or “FOMO”, will be strong at peak bubble. Are you feeling pressured to get in? Don’t quit your job to daytrade. Are your parents or grandparents asking you for AI stock tips? That’s a sure sign of a bubble. Does it seem like everyone is getting rich and that it’s “easy”? Hot Stocks Then and Hot Stocks Now 1. Microsoft Corp. (MSFT) Microsoft was one of the must-own stocks of the 1990s and the dot-com boom. The stock had gained so much that it created hundreds of “Microsoft millionaires” at its headquarters in Redmond, WA. Microsoft shares peaked in 2000, along with the other top technology names. It would not regain its highs until 2013. Yet, here Microsoft is again, during another technology revolution. Shares of ...
Shares of financial software giant Intuit (INTU 19.98%) plunged 20% on Thursday after the company reported its latest quarterly results and outlined plans to cut about 17% of its full-time workforce. That drop comes on top of an already brutal year for the stock, leaving shares down more than 50% in 2026 and even further below the all-time high of about $814 reached last summer. What is unusual ab...
Shares of financial software giant Intuit (INTU 19.98%) plunged 20% on Thursday after the company reported its latest quarterly results and outlined plans to cut about 17% of its full-time workforce. That drop comes on top of an already brutal year for the stock, leaving shares down more than 50% in 2026 and even further below the all-time high of about $814 reached last summer. What is unusual about this drop is that it followed what investors usually cheer: results above the company's own guidance and a higher full-year forecast. The maker of TurboTax, QuickBooks, Credit Karma, and Mailchimp also said it would expand its share repurchase program and raise its dividend. But there was a darker backdrop to the news. The market is asking whether artificial intelligence (AI) tools could erode the very part of Intuit's franchise that was supposed to be its moat. So has the sell-off gone too far, or are the worries justified? Solid numbers and a raised outlook Intuit's fiscal third quarter of 2026 (the period ended April 30, 2026) is the company's seasonally biggest one, and the headline numbers were solid. Total revenue climbed 10% year over year to $8.6 billion, and non-GAAP (adjusted) earnings per share rose about 10% to $12.80. Strength across the business was broad-based. Credit Karma revenue jumped 15% to $631 million, with strength across personal loans, auto insurance, and home loans. In addition, the global business solutions segment, which houses QuickBooks and Mailchimp, grew 15% to $3.3 billion, and its overall online ecosystem revenue increased 19% -- or 22% excluding Mailchimp. And QuickBooks Online Accounting revenue rose 22%, driven by higher prices and a shift toward higher-tier plans. Management also raised its full-year revenue forecast to a range of $21.341 billion to $21.374 billion, implying roughly 13% to 14% growth, and lifted its adjusted earnings per share guidance to $23.80 to $23.85 -- a roughly 18% increase. To top it off, Intuit's board appr...
"Whether it is a new or changing mole, a sore that doesn't heal, or an area of your skin that looks out of the ordinary, it's important to get it checked out.
"Whether it is a new or changing mole, a sore that doesn't heal, or an area of your skin that looks out of the ordinary, it's important to get it checked out.
President Xi Jinping has pivoted from hosting a summit with US President Donald Trump to another, just days later, with Russian President Vladimir Putin. It was a landmark moment in head-of-state diplomacy, a guiding strategic principle of foreign relations under Xi’s leadership. His summit with Putin was seen by some in the West as sequential to his meetings with Trump. That is far from the reali...
President Xi Jinping has pivoted from hosting a summit with US President Donald Trump to another, just days later, with Russian President Vladimir Putin. It was a landmark moment in head-of-state diplomacy, a guiding strategic principle of foreign relations under Xi’s leadership. His summit with Putin was seen by some in the West as sequential to his meetings with Trump. That is far from the reality. China does not see a stabilised relationship with Russia – among the three major powers – only as leverage against the United States but as positive for world stability and peace. Indeed, one major development was that Xi and Putin have agreed to extend the China-Russia Treaty of Good-Neighbourliness, Friendship and Cooperation , originally signed in 2001 and last extended in 2021. They can be expected to continue liaising on major international issues, including in the United Nations Security Council. Advertisement Understandably, given the global energy crisis amid the war on Iran and the obstruction of oil and gas shipments in the Strait of Hormuz, the world looked to the Xi-Putin summit for news of the major energy deal under negotiation for many years. The two leaders are reported to have agreed on the key details of the Power of Siberia 2 gas pipeline, but pricing remains undisclosed amid inflation driven by geopolitical factors. Despite the lack of official news on the pipeline, it was the announcement of deals that set the Xi-Putin meeting apart. Days after Xi and Trump agreed on a “constructive China-US relationship of strategic stability”, a framework within which deals might be negotiated, Xi and Putin reached a raft of agreements and pledged deeper cooperation. Xi said their bilateral ties, in the 30th anniversary year of the China-Russia strategic partnership of coordination, should be “rightfully considered a model of a new type of relationship between major powers”. Advertisement Even if China may not see eye to eye with Russia on occasion, it respects it...