Jonathan Wong
The Latest
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Tesla Denies Report Board Sought to Replace Elon Musk as CEO
Tesla and its board moved swiftly Thursday to reject a report that suggested the electric vehicle maker was actively searching for a replacement for CEO Elon Musk amid growing investor unease, political controversy, and a steep drop in sales. 
Tesla and its board moved swiftly Thursday to reject a report that suggested the electric vehicle maker was actively searching for a replacement for CEO Elon Musk amid growing investor unease, political controversy, and a steep drop in sales. -
Eli Lilly Revenue Soars 45% to $12.73 Billion on Obesity Drug Demand, Shares Drop After CVS Cuts Zepbound
Eli Lilly reported first-quarter revenue of $12.73 billion Thursday, a 45% increase from a year ago, driven by soaring demand for its blockbuster diabetes and weight-loss drugs, Mounjaro and Zepbound. The Indianapolis-based drugmaker beat Wall Street expectations on both earnings and sales, but trimmed its full-year profit forecast due to a $1.57 billion deal charge and mounting pricing pressure in the weight-loss drug market. 
Eli Lilly reported first-quarter revenue of $12.73 billion Thursday, a 45% increase from a year ago, driven by soaring demand for its blockbuster diabetes and weight-loss drugs, Mounjaro and Zepbound. The Indianapolis-based drugmaker beat Wall Street expectations on both earnings and sales, but trimmed its full-year profit forecast due to a $1.57 billion deal charge and mounting pricing pressure in the weight-loss drug market. -
CVS Lifts 2025 Earnings Forecast After $94.6 Billion Quarter, Shares Jump 7%
CVS Health reported stronger-than-expected earnings and revenue for the first quarter Thursday, raising its full-year guidance as improvement in its insurance business helped ease investor concerns. The company posted adjusted earnings per share of $2.25, beating Wall Street's consensus estimate of $1.70, and revenue of $94.59 billion, ahead of expectations for $93.64 billion. Shares rose nearly 7% in premarket trading. 
CVS Health reported stronger-than-expected earnings and revenue for the first quarter Thursday, raising its full-year guidance as improvement in its insurance business helped ease investor concerns. The company posted adjusted earnings per share of $2.25, beating Wall Street's consensus estimate of $1.70, and revenue of $94.59 billion, ahead of expectations for $93.64 billion. Shares rose nearly 7% in premarket trading. -
China’s CIC to Sell $1 Billion in U.S. Private Equity Stake
China Investment Corporation is preparing to sell approximately $1 billion worth of U.S. private equity fund stakes in the secondary market, according to multiple people familiar with the matter, as the $1.33 trillion sovereign wealth fund moves to rebalance its portfolio against the backdrop of escalating tensions between Beijing and Washington. 
China Investment Corporation is preparing to sell approximately $1 billion worth of U.S. private equity fund stakes in the secondary market, according to multiple people familiar with the matter, as the $1.33 trillion sovereign wealth fund moves to rebalance its portfolio against the backdrop of escalating tensions between Beijing and Washington. -
Yum Brands Posts Mixed Q1 as Taco Bell Drives Growth, Pizza Hut Sales Slide 2%
Yum Brands reported stronger-than-expected same-store sales growth in the first quarter, led by robust demand at Taco Bell and KFC's international operations, even as revenue fell short of Wall Street expectations and Pizza Hut posted another quarterly decline. 
Yum Brands reported stronger-than-expected same-store sales growth in the first quarter, led by robust demand at Taco Bell and KFC's international operations, even as revenue fell short of Wall Street expectations and Pizza Hut posted another quarterly decline. -
Snap Falls Over 14% After Pulling Guidance Despite Revenue Beat, Flags Ad Headwinds
Snap Inc. reported stronger-than-expected first-quarter revenue Tuesday, but its shares fell more than 14% in after-hours trading after the company declined to provide forward guidance, citing macroeconomic concerns and volatility in the advertising market. The company said it anticipates continued pressure from economic conditions that could weigh on advertiser spending through the second quarter. 
Snap Inc. reported stronger-than-expected first-quarter revenue Tuesday, but its shares fell more than 14% in after-hours trading after the company declined to provide forward guidance, citing macroeconomic concerns and volatility in the advertising market. The company said it anticipates continued pressure from economic conditions that could weigh on advertiser spending through the second quarter. -
Adidas Warns U.S. Consumers Face Higher Prices as Trump Tariffs Pressure Profits
Adidas AG warned Tuesday that it would raise prices on all its U.S. products as a result of steep tariffs imposed by President Donald Trump, even as the German sportswear giant reported stronger-than-expected first-quarter earnings. 
Adidas AG warned Tuesday that it would raise prices on all its U.S. products as a result of steep tariffs imposed by President Donald Trump, even as the German sportswear giant reported stronger-than-expected first-quarter earnings. -
Amazon Denies Plans to Display U.S. Tariff Costs Amid White House Criticism
Amazon denied on Tuesday that it planned to disclose the cost that U.S. tariffs imposed by President Donald Trump were adding to its product prices, pushing back against a report that had sparked criticism from the White House. 
Amazon denied on Tuesday that it planned to disclose the cost that U.S. tariffs imposed by President Donald Trump were adding to its product prices, pushing back against a report that had sparked criticism from the White House. -
Novo Nordisk Expands Wegovy Access Through Telehealth as Hims & Hers Shares Surge 30%
Novo Nordisk announced Tuesday it will partner with telehealth providers Hims & Hers Health, Ro, and LifeMD to sell its blockbuster weight-loss drug Wegovy, aiming to widen access now that supply shortages have eased in the United States. 
Novo Nordisk announced Tuesday it will partner with telehealth providers Hims & Hers Health, Ro, and LifeMD to sell its blockbuster weight-loss drug Wegovy, aiming to widen access now that supply shortages have eased in the United States. -
General Motors Warns Tariffs Could Hit 2025 Outlook Despite First-Quarter Profit Beat
General Motors is reassessing its 2025 financial outlook amid growing uncertainty over new auto tariffs imposed by President Donald Trump, despite posting stronger-than-expected first-quarter earnings. 
General Motors is reassessing its 2025 financial outlook amid growing uncertainty over new auto tariffs imposed by President Donald Trump, despite posting stronger-than-expected first-quarter earnings.
