Jonathan Wong
The Latest
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HSBC Profit Drops 26% as China Losses Mount, Bank Unveils $3 Billion Buyback
HSBC Holdings reported a 26% decline in first-half pretax profit, as mounting losses tied to China's Bank of Communications and Hong Kong's commercial real estate sector weighed on earnings. The London-based lender also warned that President Donald Trump's trade tariffs could threaten future profitability targets. 
HSBC Holdings reported a 26% decline in first-half pretax profit, as mounting losses tied to China's Bank of Communications and Hong Kong's commercial real estate sector weighed on earnings. The London-based lender also warned that President Donald Trump's trade tariffs could threaten future profitability targets. -
UnitedHealth Slashes 2025 Outlook as Medical Costs Surge, Stock Drops More Than 4%
UnitedHealth Group Inc. warned Tuesday that its 2025 earnings will fall sharply below Wall Street expectations, rattled by surging medical costs in its Medicare Advantage business and a string of corporate disruptions. The company projected adjusted earnings of at least $16 per share, significantly below analysts' consensus of $20.91, and forecast revenue between $445.5 billion and $448 billion, also missing expectations. 
UnitedHealth Group Inc. warned Tuesday that its 2025 earnings will fall sharply below Wall Street expectations, rattled by surging medical costs in its Medicare Advantage business and a string of corporate disruptions. The company projected adjusted earnings of at least $16 per share, significantly below analysts' consensus of $20.91, and forecast revenue between $445.5 billion and $448 billion, also missing expectations. -
Tesla Strikes $16.5 Billion Semiconductor Deal With Samsung for AI Chip Production in Texas
Elon Musk confirmed Monday that Tesla has signed a $16.5 billion semiconductor deal with Samsung Electronics, securing next-generation chip production from Samsung's new factory in Taylor, Texas. The agreement, which runs through 2033, is intended to manufacture Tesla's AI6 chips, a successor to the AI4 chips currently powering Tesla's Full Self-Driving system. 
Elon Musk confirmed Monday that Tesla has signed a $16.5 billion semiconductor deal with Samsung Electronics, securing next-generation chip production from Samsung's new factory in Taylor, Texas. The agreement, which runs through 2033, is intended to manufacture Tesla's AI6 chips, a successor to the AI4 chips currently powering Tesla's Full Self-Driving system. -
UnitedHealth Acknowledges DOJ Medicare Billing Probe, Stock Falls 2% Amid Rising Scrutiny
UnitedHealth Group confirmed Thursday that it is under investigation by the Department of Justice for its Medicare billing practices and is cooperating with both criminal and civil inquiries. The company disclosed the development in a securities filing, noting it had proactively contacted the DOJ following media reports of the probe. Shares fell 2% to $287.39, extending a sharp decline that has erased more than half the company's market value from its all-time high. UnitedHealth Group confirmed Thursday that it is under investigation by the Department of Justice for its Medicare billing practices and is cooperating with both criminal and civil inquiries. The company disclosed the development in a securities filing, noting it had proactively contacted the DOJ following media reports of the probe. Shares fell 2% to $287.39, extending a sharp decline that has erased more than half the company's market value from its all-time high. -
Tesla Stock Drops 8% as Earnings Miss, Sales Slide, and Musk Warns of 'Rough Quarters' Ahead
Tesla shares fell more than 8% Thursday after the electric vehicle maker reported weaker-than-expected second-quarter results and CEO Elon Musk warned of potentially "a few rough quarters" ahead. The company's earnings miss comes as Tesla grapples with declining vehicle sales, the expiration of U.S. federal EV tax credits, and broader market competition. 
Tesla shares fell more than 8% Thursday after the electric vehicle maker reported weaker-than-expected second-quarter results and CEO Elon Musk warned of potentially "a few rough quarters" ahead. The company's earnings miss comes as Tesla grapples with declining vehicle sales, the expiration of U.S. federal EV tax credits, and broader market competition. -
Meme Stock Frenzy Adds $355 Billion in Short Seller Losses as Retail Traders Target Heavily Shorted Names
Heavily shorted stocks surged again this week as retail investors revived the meme stock playbook, adding pressure to short sellers and accelerating a market rally that has pushed the S&P 500 up 25% since April. Names like Krispy Kreme, GoPro, Opendoor Technologies, and Kohl's led gains, with some stocks posting double-digit percentage moves over consecutive sessions. 
Heavily shorted stocks surged again this week as retail investors revived the meme stock playbook, adding pressure to short sellers and accelerating a market rally that has pushed the S&P 500 up 25% since April. Names like Krispy Kreme, GoPro, Opendoor Technologies, and Kohl's led gains, with some stocks posting double-digit percentage moves over consecutive sessions. -
Coca-Cola to Launch U.S. Cane Sugar Version of Coke After Trump Push
Coca-Cola confirmed Tuesday that it will introduce a new version of its namesake soda made with U.S. cane sugar this fall, following public pressure from President Donald Trump and amid broader discussions on food reform under the administration's Make America Healthy Again initiative. 
Coca-Cola confirmed Tuesday that it will introduce a new version of its namesake soda made with U.S. cane sugar this fall, following public pressure from President Donald Trump and amid broader discussions on food reform under the administration's Make America Healthy Again initiative. -
Coca-Cola Beats Q2 Profit Forecasts With $3.81B Net
The Coca-Cola Company posted stronger-than-expected second-quarter earnings Tuesday, driven by resilient European demand and pricing power, even as global sales volume slipped and overall revenue narrowly missed analyst targets. 
The Coca-Cola Company posted stronger-than-expected second-quarter earnings Tuesday, driven by resilient European demand and pricing power, even as global sales volume slipped and overall revenue narrowly missed analyst targets. -
GM Quarterly Profit Drops 35% as Trump Tariffs Cost Automaker $1.1 Billion
General Motors reported a 35% decline in second-quarter profit Tuesday, driven by a $1.1 billion hit from President Donald Trump's new tariffs, which the company warned will have an even greater impact in the second half of 2025. GM reaffirmed its full-year forecast but acknowledged that trade headwinds could shave as much as $5 billion from its bottom line. 
General Motors reported a 35% decline in second-quarter profit Tuesday, driven by a $1.1 billion hit from President Donald Trump's new tariffs, which the company warned will have an even greater impact in the second half of 2025. GM reaffirmed its full-year forecast but acknowledged that trade headwinds could shave as much as $5 billion from its bottom line. -
Alaska Airlines Resumes Operations After System-Wide Ground Stop, FAA Confirms
Alaska Airlines was forced to ground all its mainline and Horizon Air flights late Sunday following a system-wide IT outage, leaving passengers stranded and operations disrupted across the United States. The airline lifted the ground stop by 11 p.m. Pacific time, according to statements by both Alaska Airlines and the Federal Aviation Administration (FAA). 
Alaska Airlines was forced to ground all its mainline and Horizon Air flights late Sunday following a system-wide IT outage, leaving passengers stranded and operations disrupted across the United States. The airline lifted the ground stop by 11 p.m. Pacific time, according to statements by both Alaska Airlines and the Federal Aviation Administration (FAA).
