Stock Movers: Nike, Uber, United Natural Foods
On this episode of Stock Movers: - Nike (NKE) shares rise after the sneaker company's said its yearlong sales decline is finally starting to ease, suggesting that CEO Elliott Hill's strategic moves are paying off. - Uber (UBER) and Lyft (LYFT) shares fall after both rideshare firms were downgraded to hold from buy at Canaccord Genuity as analyst George Gianarikas sees 'potential for rapid disruption.' - United Natural Foods (UNFI) is climbing after the food distributor said a previously disclosed cybersecurity incident has been contained, and it's now regularly receiving and shipping products to retailers across its network.
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Fox News
25 minutes ago
- Fox News
Trump says 'big, beautiful' bill 'must' meet deadline as some Republicans waver
House Republicans are growing increasingly wary of the self-imposed July 4 deadline to get President Donald Trump's "big, beautiful bill" to the White House, as the president warns that the bill "must" be ready for his signature by then. "I think it's more important to get the bill correct than it is to get it fast," Rep. Scott Perry, R-Pa., a former House Freedom Caucus chairman, told Fox News Digital. "I'm interested in a great deliverable product, and spending the time and the resources necessary to get that, whatever they may be." It's a thought shared by members outside of the conservative rebel group as well – Rep. Nicole Malliotakis, R-N.Y., who represents part of New York City, said Fourth of July is a "realistic" goal, but not one she was married to. "I'm not set on getting this done by July 4th. I know that's a goal, it's a nice soundbite, doing this on Independence Day and celebrating America," Malliotakis said. "But at the end of the day, we've got to do it right. And I'd rather take a few more days, a few more weeks, to make sure we can deliver a good product for the American people." Speaker Mike Johnson, R-La., told reporters on Friday that it was "possible" the deadline could slip, "but I don't want to even accept that as an option right now. We want to try to push this." The vast tax and immigration bill is currently in the Senate, where lawmakers are still working through several key issues on Medicaid and state and local tax (SALT) deductions among other details. An earlier version passed the House by just one vote in late May. Now, several House Republicans are balking at proposed changes in the Senate – though there's still no final product – and warning that the bill could lose their support when it returns to the House. Rep. Greg Murphy, R-N.C., who leads the Doctors Caucus, told Fox News Digital he had issues with the Senate version's comparably harsher cuts to federal Medicaid funding. "There is uniform agreement amongst many, many members in the House - if there's a change in the [federal Medicaid assistance percentage], we're not voting for it. It would remove the Medicaid expansion of North Carolina. I won't stand for that," he said. Asked about the feasibility of a July 4 deadline, Murphy said, "I've been a surgeon all my life … if I plan things, I'm used to having them given up in case a patient needs me for emergencies and things like that." Rep. Nick LaLota, R-N.Y., a moderate, said "there might be some prudence" in letting go of the July 4 deadline. Conservative Rep. Michael Cloud, R-Texas, was more optimistic. "I think it's more worth it to get the bill right, but that's not to say we won't get it done by then," he said. Rep. Lloyd Smucker, R-Pa., suggested the timeline will rely heavily on Trump. The Senate is expected to work through the weekend to pass the bill. Johnson told House Republicans, meanwhile, to be flexible next week when they're expected to be home in their districts. Sources have told Fox News Digital that House GOP leaders have offered varying estimations of when lawmakers will have to be back in Washington, from Tuesday through Thursday. And the House is up against at least one real-world deadline – the U.S. is expected to run out of cash to pay its debts by the summer, according to multiple projections. Republicans have made raising the debt limit a priority in the bill. Trump, for his part, wrote on Truth Social Friday, "The House of Representatives must be ready to send it to my desk before July 4th – We can get it done." He said during a press conference earlier in the day, "We can go longer, but we'd like to get it done by that time, if possible."
New York Times
29 minutes ago
- New York Times
Fearing Tax Increases and Trump, G.O.P. Toils to Pass a Bill With Plenty to Hate
As Congress inches toward final action on the sweeping domestic policy package that President Trump is calling the 'big, beautiful bill,' it has come down to this: Republicans are preparing to back a measure that they fear gives their constituents little to love and lots to hate. The struggle Republicans are experiencing in securing votes for the legislation emanates from the fact that they are being asked to embrace steep cuts to the government safety net that could hit their states and districts hard — all in the service of extending existing tax cuts that don't offer much in the way of new benefits for most Americans. The heart of the legislation — $3.8 trillion in tax cuts — is already in place, enacted eight years ago during the first Trump administration. The measure simply extends those tax breaks, leaving Republican lawmakers unable to trumpet generous new tax savings for Americans. On the other hand, the bill would scale back popular health and nutrition programs to pay for part of the enormous cost of keeping the tax rates that are already in place. Reductions to Medicaid, SNAP and other safety net programs are not the only elements dividing the party. Republicans in states that have new clean energy projects started under a Biden-era program want those projects protected, while others want them ended immediately. A proposal to sell off public lands in the West has split Republicans from the region. A ban on states regulating artificial intelligence for 10 years is in dispute. Hard-right Republicans want much deeper cuts across the board. At the same time, the bulk of new spending in the legislation goes to the Pentagon and border security, two areas where Americans won't feel any boost in their own bank accounts. Want all of The Times? Subscribe.
The Verge
30 minutes ago
- The Verge
Trump halts trade negotiations with Canada over tax on Big Tech.
Posted Jun 27, 2025 at 7:20 PM UTC Trump halts trade negotiations with Canada over tax on Big Tech. In a post on Truth Social, Trump said the US is 'terminating ALL discussions' on trade with Canada due to the country's decision to move forward with its digital services tax, which targets US tech giants like Amazon, Google, and Meta. Though Canada first implemented the digital services tax last year, it's set to collect its first round of payments on Monday, which will retroactively apply to 2022.
