Latest news with #Hartung
Yahoo
22-05-2025
- Business
- Yahoo
Coinbase on S&P 500, Novavax vaccine, Tesla: Trending Tickers
Coinbase Global (COIN) will begin trading on the S&P 500 (^GSPC) effective today, replacing Discover Financial Services (DFS) on the exchange. The US Food and Drug Administration (FDA) approves Novavax's (NVAX) COVID-19 vaccine, sending the pharmaceutical stock surging. Tesla (TSLA) is adding former Chipotle Mexican Grill (CMG) CFO Jack Hartung to its board of directors, effective June 1, when Hartung will be stepping down as the restaurant chain's president and chief strategy officer. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. It's now time for some of today's trending takers. This morning we're watching Coinbase, Novavax and Tesla. First up, Coinbase officially replacing Discover Financial Services on the S&P 500. Coinbase is the first crypto firm to join the index. Here's what CEO Brian Armstrong told Yahoo Finance's Jennifer Schonberger about the inclusion. Coinbase joining the S&P 500 means crypto's here to stay. It's going to be in everybody's 401Ks. Um everyone's going to have crypto exposure, you know, at least indirectly through Coinbase, which is great. Stock was up more than 30% last week ahead of the inclusion despite news of a hack that is expected to cost the company over $400 million. Still here with me to discuss we have Amy Woo Silverman. Amy, I know you look at the options market when you're talking about individual stocks. What are you seeing around Coinbase? It's really interesting because I think just what Armstrong had sent there is very symbolic of kind of old guard being transferred to new guard. Um in terms of Coinbase specifically around the options, it's just this idea overall that if crypto becomes normalized, you're going to really see a change in correlations. And what I mean by that is cryptocurrency in general has really been this risk on asset and Coinbase to some degree has traded along with that correlation, but as it becomes thought of more as just a normal part of what people as he said have in their 401Ks, I think it then people start rethinking its relationship. Maybe it acts like digital gold. Maybe it really is an inflation hedge. We're not seeing those yet, but I do think you start to see investors think of both Coinbase and crypto in general as part of that cohort and managing those risks. Yeah, something of a change to what drives the trade on that stock potentially. Really interesting. We're going to move on though to Novavax's COVID vaccine getting full approval from the FDA. This after the clearance was delayed when Health and Human Services Secretary, Robert F. Kennedy Jr. raised doubts about its efficacy. The shot is cleared for adults 65 and older and those ages 12 to 64 who have at least one underlying condition that puts them at high risk. Of course, this comes amid record COVID cases in parts of the globe. We got the shares up 10%, but Amy, they were up as much as 18% earlier today. I'm interested in why the street sees this as such a big catalyst for Novavax. Yeah, I think it's just comes down to what was priced in prior and then the surprise that they got so it perhaps that had something to do with it. I will tell you in general when you think about not only the options for Novavax, but U&H for healthcare, it's been incredibly elevated when we look at our liquid universe of all sectors. Healthcare has across the board had held the most uncertainty related to what Trump has hang, but also related, I would say to just much more idiosyncratic risk related to a lot of these factors like FDA approval or maybe the disapproval of a trial that you don't get in other stocks. Perhaps a signal of how much policy uncertainty there is in that sector. So much. Yeah, absolutely. Really good stuff. We're also going to talk about Tesla leading declines among the magnificent seven today. The electric vehicle maker adding a new board member, retired CFO, Jack Hartung's appointment is effective coming up on June 1st, but Tesla again leading declines in the mag 7 this morning is down a little over 2%. This is always a fun one to talk options on Amy. What are you seeing with Tesla? So I will tell you Tesla is a name I never want to give up on because when I think back to its options history, it has the most severe form of what we call skew inversion, but it's a really simple way of saying, I've never seen such exuberance in the call options as I have on a stock like Tesla, and that's faded a lot, but we always watch for if that ticks back because that creates enormous amount of momentum in the stock that you have to be careful of. It happens in Tesla, maybe Nvidia, but not very many names exhibit this the way you see in Tesla. How can investors monitor that? So take a look at how the call option pricing trades relative to the put option pricing when that starts to go kind of above and beyond what the normal relationship of that spread is, then you're starting to see that momentum build in the stock again. Really, really important context there, Amy. Thank you so much. For our audience, you can scan the QR code below to track the best and worst performing stocks with the Yahoo finances at trending at ticker's page. 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
19-05-2025
- Business
- Yahoo
Coinbase on S&P 500, Novavax vaccine, Tesla: Trending Tickers
Coinbase Global (COIN) will begin trading on the S&P 500 (^GSPC) effective today, replacing Discover Financial Services (DFS) on the exchange. The US Food and Drug Administration (FDA) approves Novavax's (NVAX) COVID-19 vaccine, sending the pharmaceutical stock surging. Tesla (TSLA) is adding former Chipotle Mexican Grill (CMG) CFO Jack Hartung to its board of directors, effective June 1, when Hartung will be stepping down as the restaurant chain's president and chief strategy officer. To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
Yahoo
16-05-2025
- Automotive
- Yahoo
Tesla stock soars for 4th straight week with Musk pay package, board addition in focus
Tesla stock (TSLA) is trading higher on Friday, capping another strong week for the EV-maker. The company's fourth straight week of gains has seen it recoup a large chunk of losses from a recent low on April 21. Tesla stock is now down only 13% for the year, after plunging over 40% at one point. Driving the news Friday was Tesla's addition of Chipotle president Jack Hartung to its board of directors. Hartung will be the ninth member of Tesla's board and will join the company on June 1. Hartung will retire from his role at Chipotle (CMG) on the same day and transition to a senior adviser role at the Mexican fast-casual chain. Hartung also serves on the boards of Portillo's, the Honest Company, and ZocDoc. Tesla said Hartung will also join the board's audit committee. Read more about Tesla's stock moves and today's market action. Tesla's board has been under fire recently, with criticism over its independence, compensation, and dealings with CEO Elon Musk. This week, the Financial Times reported Tesla's board had formed a special committee to explore a new pay package for Musk, with stock options potentially on the table. The committee will explore "alternative ways" to compensate Musk for past work should Tesla fail to reinstate Musk's prior 2018 pay package, which is on appeal with the Delaware Supreme Court. The bruising battle over Musk's pay led to several large shareholders complaining about the exorbitant amount Musk would be paid — $56 billion — and Musk's threat that he would take projects like AI away from Tesla unless he received more stock options. Chair Robyn Denholm refuted a Wall Street Journal report that the board was looking for replacements for Musk and had told Musk to return to Tesla in order to reassure investors. Denholm, who has sold a whopping $538 million in Tesla stock since she joined the board in 2014, has been questioned by investors about her own compensation. The board also settled a lawsuit brought by shareholders and had to pay back millions in compensation. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. 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
16-05-2025
- Automotive
- Yahoo
Tesla stock trading higher, poised for 4th straight week of gains
Tesla stock (TSLA) is trading higher on Friday, capping another strong week for the EV-maker. In fact its the fourth straight week the stock has traded higher, after Tesla hit a recent low on April 21. Tesla stock is now down only 13% for the year, after plunging over 40% at one point this year. Driving the news today was Tesla's addition of Chipotle president Jack Hartung to its board of directors. Hartung will be the ninth member of Tesla's board and will join the company on June 1. Hartung will retire from his role at Chipotle (CMG) on the same day and transition to a senior adviser role at the Mexican fast-casual chain. Hartung also serves on the boards of Portillo's, the Honest Company, and ZocDoc. Tesla said Hartung will also join the audit committee of the board. Read more about Tesla's stock moves and today's market action. Tesla's board has been under fire recently, with criticism over its independence, compensation, and dealings with CEO Elon Musk. This week, the Financial Times reported Tesla's board had formed a special committee to explore a new pay package for Musk, with stock options potentially on the table. The committee will explore "alternative ways" to compensate Musk for past work should Tesla fail to reinstate Musk's prior 2018 pay package, which is on appeal with the Delaware Supreme Court. The bruising battle over Musk's pay led to several large shareholders complaining about the exorbitant amount Musk would be paid — $56 billion — and Musk's threat that he would take projects like AI away from Tesla unless he received more stock options. Chair Robyn Denholm refuted a Wall Street Journal report that the board was looking for replacements for Musk and had told Musk to return to Tesla in order to reassure investors. Denholm, who has sold a whopping $538 million in Tesla stock since she joined the board in 2014, has been questioned by investors about her own compensation. The board also settled a lawsuit brought by shareholders and had to pay back millions in compensation. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
CNBC
16-05-2025
- Automotive
- CNBC
Tesla adds long-time Chipotle executive Jack Hartung to board of directors
Tesla has appointed long-time Chipotle executive Jack Hartung to its board of directors, effective June 1. As part of the board, Hartung will join Tesla's audit committee, the electric vehicle company disclosed in a filing with the SEC on Friday. The addition comes as Tesla battles sinking EV sales and eroding profits, and concerns that CEO Elon Musk is focusing too much attention elsewhere, including in his role leading President Donald Trump's Department of Government Efficiency. The company's stock price is down 14% this year. Musk began his company's earnings call last month by saying that his time spent running DOGE will drop "significantly" by the end of May, though he would still spend one or two days a week on his government work until the end of Trump's term. Hartung, who was known for taking a disciplined approach to Chipotle's finances during the Covid pandemic, will expand Tesla's board to nine members. Airbnb co-founder Joe Gebbia was the last addition to the Tesla board in 2022. The SEC filing on Friday noted that Hartung's son-in-law is a service technician for the EV maker. Tesla didn't disclose details about Hartung's relationship with Kimbal Musk, Elon Musk's brother. Kimbal Musk sits on Tesla's board and served on the board of Chipotle from 2013 to 2019, during Hartung's tenure. Hartung held a variety of roles at the fast-casual burrito chain, joining the company in 2002 and rising in ranks to become its CFO. Chipotle went public in 2006 and shares in the company are up by over 100 times since then. On May 6, Chipotle announced Hartung would step down from his current role as president and strategy chief on June 1, and would stay on in a senior advisory role through early March of next year. Tesla posted a statement welcoming Hartung to X, which is also owned by Musk. Hartung serves on the boards of the Chicago street food business Portillo's, beauty and baby care products maker The Honest Company and ZocDoc, a site for booking medical appointments. Tesla is currently preparing to launch its "retro-futuristic" diner in Los Angeles which had been in development for about 7 years.
