Casey's General Stores CEO Darren Rebelez sits down with Jim Cramer
Casey's General Stores Chair, President and CEO Darren Rebelez joins 'Mad Money' host Jim Cramer to talk food offerings, store growth, and more.
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CNBC
an hour ago
- CNBC
Why the market is shrugging off Nvidia's 15% fee on AI chip sales to China
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: Stocks are little changed to start the week. There was an attempt at a rally shortly before noon, but it ultimately fizzled out. Investors may be waiting for the results of the July consumer price index report, which economics expect will show a slight pickup in inflation from June. Those numbers are due on Tuesday. Compared to recent weeks, earnings won't be as much of a catalyst for the markets with only a small handful of stocks in the S & P 500 scheduled to report. Nvidia deal : The market doesn't mind that Club name Nvidia and peer AMD will have to give the United States a 15% share of all AI chip sales to China. The arrangement, confirmed by President Donald Trump on Monday, is part of a broader deal announced last month that restored the companies' ability to sell AI chips to Chinese customers. That ability had been revoked in April, when the Trump administration tightened Biden-era export controls that had forced Nvidia and AMD to design throttled-back versions of their top-end AI chips for the Chinese market. This 15% payment to the government in order to be able to sell to China again is a first; we haven't seen a deal like this before. But it's not negative as far as the stock is concerned — shares were little changed on Monday. The bigger prize is maintaining the ability to sell to China, a market that Nvidia CEO Jensen Huang has estimated could be worth $50 billion in the next few years. Bernstein analyst Stacy Rasgon was on CNBC on Monday afternoon and shared this thinking on this deal. "From Nvidia's standpoint and from AMD's standpoint, I get it, like 85 cents is better than anything, and it's important for them to be able to sell into China because otherwise you're just handing that market over to China and to the local players. That market is not going away. We need to be able to compete there, so that's good," Rasgon said on "The Exchange." He added, "I think that should happen on their own merits." To size up the potential impact of this payment, Nvidia was selling about $8 billion worth of chips to China a quarter prior to the previous export restriction. A 15% haircut would equate to a little more than $1 billion per quarter, or about $5 billion per year. That's a large number for most companies, but not for Nvidia: analysts estimate the company will do about $200 billion in revenue over its ongoing fiscal year 2026 and $255 billion in fiscal year 2027. Up next: There are no major earnings reports on our radar after the closing bell on Monday and before the opening bell on Tuesday. But some notable names scheduled to report are Cardinal Health , Oklo , AST SpaceMobile , and Circle Internet Group . On the data side, on Tuesday we'll see the NFIB small business optimism index and the July consumer price index report. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Los Angeles Times
2 hours ago
- Los Angeles Times
Explosion at U.S. Steel plant in Pennsylvania leaves dozens hurt and people trapped under rubble
CLAIRTON, Pa. — An explosion Monday at a U.S. Steel plant near Pittsburgh has left dozens injured or trapped under the rubble, with emergency workers on site trying to rescue them, officials said. There are no confirmed fatalities at the Clairton Coke Works, said Abigail Gardner, director of communications for Allegheny County. The explosion sent black smoke spiralling into the midday sky in the Monongahela Valley, a region synonymous with the state for more than a century. The Allegheny County Emergency Services said a fire at the plant started around 10:51 a.m. and that it has transported five people. The agency did not provide any more details on those people transported and would only say it was an 'active scene.' The plant, a massive industrial facility along the Monongahela River south of Pittsburgh, is considered the largest coking operation in North America and is one of four major U.S. Steel plants in Pennsylvania that employ several thousand workers. Democratic Sen. John Fetterman, who formerly served as the mayor of nearby Braddock, called the explosion 'absolutely tragic' and vowed to support steelworkers in the aftermath. 'I grieve for these families,' Fetterman said. 'I stand with the steelworkers.' In June, U.S. Steel and Nippon Steel announced they had finalized a 'historic partnership,' a deal that gives the U.S. government a say in some matters and comes a year and a half after the Japanese company first proposed its nearly $15 billion buyout of the iconic American steelmaker. The pursuit by Nippon Steel for the Pittsburgh-based company was buffeted by national security concerns and presidential politics in a premier battleground state, dragging out the transaction for more than a year after U.S. Steel shareholders approved it. In February, a problem with a battery at the plant led to a 'buildup of combustible material' that ignited, causing an audible 'boom,' the Allegheny County Health Department said. Two workers who got material in their eyes received first aid treatment at a local hospital but were not seriously injured. In recent years, the Clairton plant has been dogged by concerns about pollution. In 2019, it agreed to settle a 2017 lawsuit for $8.5 million. Under the settlement, the company agreed to spend $6.5 million to reduce soot emissions and noxious odors from the Clairton coke-making facility. The company also faced other lawsuits over pollution from the Clairton facility, including ones accusing the company of violating clean air laws after a 2018 fire damaged the facility's sulfur pollution controls. Clairton Mayor Richard Lattanzi said his heart goes out to the victims of the explosion. 'The mill is such a big part of Clairton,' he said. 'It's just a sad day for Clairton.' Levy, Casey and Whittle write for the Associated Press. Levy reported from Harrisburg, Pennsylvania, Casey reported from Boston and Whittle reported from Portland, Maine. AP reporters Holly Ramer in Concord, N.H., and Beatrice Dupuy in New York City contributed to this report.
Yahoo
3 hours ago
- Yahoo
Jim Cramer Drops Bold Call On Tesla Stock
Tesla (NASDAQ:TSLA) stock got a big nod of approval from Jim Cramer saying the company is morphing from an automaker into a technology play and argued the upside is big no matter the entry price. On CNBC's Mad Money, Cramer said Tesla's technology is worth more than its car business and urged investors to want to be there. Sentiment around Elon Musk still splits the room, with bulls calling him Tesla's key asset and critics pointing to distractions and recent controversies as growth hurdles. The tech push is front and center. Tesla launched an autonomous ride hailing service in the Bay Area last month with a safety driver and wants to scale to more than 100 robotaxis. In Austin, early access invites are widening and the geofence keeps expanding, with a goal of running without invites or geofences. Full self driving remains the showcase. Optimus could go live soon, though costs and production bottlenecks are slowing scale. Energy storage and solar keep posting steady growth. if software and services take the wheel, valuation could lean more on tech multiples than auto line: watch how quickly robotaxi fleets grow and when Optimus hits milestones. This article first appeared on GuruFocus. 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
