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Why would Trump and Intel want to work together: Opening Bid top takeaway
Investors are in wait-and-see mode. Fed watchers have had quite a week, getting a hot Producer Price Index, a tame Consumer Price Index, and solid retail sales data out today. As it stands, markets are still betting on that September rate cut from the Jerome Powell-led Federal Reserve. There have been a few earnings stumbles in CoreWeave (CRWV), Applied Materials (AMAT), and Cava (CAVA), but a few bright spots from the likes of Cisco (CSCO). The Bullish (BLSH) IPO saw an enthusiastic response. And now markets cast their gaze to the highly anticipated meeting today between President Trump and his Russian counterpart, Vladimir Putin. The outcome of this meeting could have a host of surprises that bullish investors haven't even thought about! Stock analysis: Intel The Trump administration is reportedly in talks to have the US government take a stake in Intel (INTC). An Intel spokesperson didn't comment directly on this to me, but offered this: "Intel is deeply committed to supporting President Trump's efforts to strengthen U.S. technology and manufacturing leadership. We look forward to continuing our work with the Trump Administration to advance these shared priorities, but we are not going to comment on rumors or speculation.' The questions here are numerous. Why would the administration even want a stake in an Intel that is far behind chief rivals Nvidia (NVDA) and Advanced Micro Devices (AMD)? I encourage Trump to compare Nvidia's earnings report on Aug. 27 to the last disaster from Intel a few weeks ago. The president isn't known to hitch his ride to losers. Intel has been a loser and may stay that way in the chip game for some time. Then again, why would Intel want to get in bed with the government when embattled CEO Lip-Bu Tan and the board must act quickly to reorganize the company? I find it hard to believe the government will be a quiet minority shareholder! Intel has billions in cash and doesn't need the money that comes with terms from any government deal. There is a lot at stake here, as Intel should be a beacon of US chip-making, not the punching bag in tech circles. The company's financials have taken a major hit, with sales down for more than three straight years and earnings evaporating in the process. "[A stake would] be a big step for Intel, but right now Intel is on a horse and buggy compared to the Godfather of AI Jensen [Huang] and Nvidia," Wedbush tech analyst Dan Ives told me. Roundtable analysis: More tech When a Wall Street analyst who has been a bear on a stock for a while suddenly issues an upgrade, it always catches my attention. Today, we have that situation on Salesforce (CRM). DA Davidson analyst Gil Luria lifted his rating on Salesforce to Neutral from Underperform. Luria said investor sentiment has declined sharply on Salesforce in recent months as questions mount around the company's acquisition strategy and near-term margins. But what may not be factored into the stock is new activist investor activity, Luria said. Luria pointed out that noted activist investor Starboard Value — led by Jeff Smith — increased its stake in Salesforce by 47% this quarter, according to new 13F filings. Starboard pushed for big changes at Salesforce three years ago, which ultimately led to a new focus on margin expansion by CEO and co-founder Marc Benioff. Luria said, "We believe this is a signal there will be another round of investor activism and increased pressure on management to refocus on growth of the core business, additional margin expansion and hold off on dilutive M&A." Meanwhile, Warren Buffett's Berkshire Hathaway sold 20 million shares of Apple (AAPL) during the period, according to a new 13F filing. Berkshire's Apple holdings remain its largest equity stake by market value, despite dropping by about $9.2 billion in the second quarter. Is Buffett signaling he is concerned about Apple's tariff exposure? Perhaps. After all, Apple did warn tariffs would hit its profits by $1.1 billion in the current quarter. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
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Tories and Reform decry two-tier justice as suspended Labour councillor cleared
Conservative and Reform politicians have decried what they call 'two-tier justice' after a suspended Labour councillor who called for far-right activists' throats to be cut was found not guilty of encouraging violent disorder. Ricky Jones, 58, faced trial at Snaresbrook Crown Court accused of the offence after he described demonstrators as 'disgusting Nazi fascists' at an anti-racism rally in the wake of the Southport murders. He was cleared on Friday. Nigel Farage and shadow home secretary Chris Philp both pointed to the idea of 'two-tier justice' in relation to the case. Mr Philp compared the case to that of Lucy Connolly, who was jailed after she posted a tweet calling for 'mass deportation' and 'set fire to all the f****** hotels' on the day of the Southport attacks last year. In a post on X, Mr Philp said: 'The development of two tier justice is becoming increasingly alarming.' Ex-Reform chairman Zia Yusuf also referred to Connolly's case, and said that 'two tier justice in this country is out of control'. Connolly pleaded guilty last year to a charge of inciting racial hatred by publishing and distributing 'threatening or abusive' written material on X, which meant she did not face a trial. In Jones' case, a jury deliberated for just over half an hour before they found him not guilty. A video showing Jones addressing crowds on Hoe Street in Walthamstow, east London, on August 7 last year went viral on social media after the protest, which had been organised in response to plans for a far-right march outside Waltham Forest Immigration Bureau. The suspended councillor said in the clip: 'They are disgusting Nazi fascists. We need to cut all their throats and get rid of them all.' He also drew his finger across his throat as he spoke to the crowd. Jurors deliberated for just over 30 minutes and found him not guilty on Friday. Jones, who wore a navy blue suit with a white shirt and pale pink tie in the dock, was seen mouthing 'thank-you' at the jurors. Family and supporters hugged each other before Jones, who declined to comment on the verdict, was driven out of the court grounds in a car. The 58-year-old, who at the time was also employed as a full-time official for the Transport Salaried Staffs' Association (TSSA) union, was arrested on August 8 last year and interviewed at Brixton police station that night. Jones, who has been a borough councillor in Dartford, Kent, since 2019, was suspended by Labour the day after the incident. It is understood that a party investigation remains ongoing, and its outcome will decide what happens to his membership. A spokesperson for the party said at the time that his behaviour 'was completely unacceptable and it will not be tolerated'. Giving evidence in his trial, Jones said his comment did not refer to far-right protesters involved in the riots at the time, but to those who had reportedly left National Front stickers on a train with razor blades hidden behind them. Before he made the comment, jurors were shown video where he said to crowds: 'You've got women and children using these trains during the summer holidays. 'They don't give a shit about who they hurt.' He told the court he was 'appalled' by political violence, adding: 'I've always believed the best way to make people realise who you are and what you are is to do it peacefully.'
Yahoo
6 minutes ago
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Over two-thirds of Vermonters disapprove of Trump, the most of any state: See recent polls
Out of all 50 states, President Donald Trump is the least popular in Vermont, a new poll reveals. According to an Aug. 12 update from Morning Consult, which gathers polls over the course of three months to get a look at state-level data among registered voters, Trump has the lowest approval rating in the country in Vermont. There, he has a net approval rating of -32, with 64% disapproving of his job performance. This aligns with polls taken earlier this year, too: a University of New Hampshire Survey Center poll conducted in June found Trump's net approval in Vermont at -41. Trump isn't popular in any of the New England states: the poll found Massachusetts was tied with Maryland for the second lowest net approval nationally with -26. Trump saw his highest approval in New England in Maine: -14. What is Trump's approval rating in New England? According to Morning Consult, this is Trump's net approval rating in each New England state: Connecticut: -19 Maine: -14 Massachusetts: -26 New Hampshire: -16 Rhode Island: -21 Vermont: -32 Where is Trump the most popular? Trump's approval rating is above water in 27 states, according to Morning Consult. The poll found him to be most popular in Wyoming, where 66% of voters approve of his job performance. What is Trump's approval rating overall? An average of recent polls from the New York Times shows that Trump's approval rating as of Aug. 14 is 44%, with 53% disapproving of his performance. This average has remained largely steady over the past month, but some individual polls have shown his support dropping to near-record lows as voters seem frustrated with Trump's August tariffs and his sweeping budget bill passed in early July. What is Trump's current presidential approval rating?Disapprove +22 (38% approve, 60% disapprove) Poll taken Aug. 4-10 3,505 registered votersDisapprove +12 (42% approve, 54% disapprove) Poll taken Aug. 9-11 1,635 adults Hart Research Associates/Public Opinion Strategies Disapprove +5 (46% approve, 51% disapprove) Poll taken July 29 – Aug. 3 1,000 adultsDisapprove +16 (40% approve, 56% disapprove) Poll taken July 25-27 1,023 adults1,400 registered voters Disapprove +1 (46% approve, 47% disapprove) Poll taken July 21-22 Contributing: Kinsey Crowley This article originally appeared on Burlington Free Press: Trump's approval rating is lowest in Vermont, poll says
