Intel's shares surge as CEO Lip-Bu Tan is set to meet President Trump following controversial remarks about his ties to China. Meanwhile, cannabis stocks soar on news of potential marijuana reclassification, with Village Farms International seeing a massive jump. The podcast also highlights the market's reaction to rising cocoa prices and its implications for Hershey, alongside insights on bond yields and upcoming economic data affecting the Federal Reserve.
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insights INSIGHT
Intel CEO Meets White House Amid Scrutiny
Intel CEO Lip-Bu Tan visited the White House after Trump called for his resignation.
Investors pushed Intel shares higher as Tan sought to address alleged conflicts and misinformation.
insights INSIGHT
Paramount Buys U.S. UFC Rights For $7.7B
Paramount paid $7.7 billion for exclusive U.S. UFC rights over seven years.
The deal aims to drive millions of viewers to Paramount's streaming service.
insights INSIGHT
Marijuana Stocks Jump On Reclassification Talk
President Trump said he may reclassify marijuana, sending cannabis stocks sharply higher.
Tilray jumped about 42% and peers gained double digits on the news.
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Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Vonnie Quinn, Tim Stenovec and Isabelle Lee.
- Intel (INTC) shares are trading higher Monday amid reports indicating CEO Lip-Bu Tan will meet with President Donald Trump. The meeting is expected to take place Monday at the White House. It comes four days after Trump called for Tan's resignation in a Truth Social post, describing him as "highly CONFLICTED" and alleging ties to Chinese semiconductor companies with connections to the country's military. The criticism followed a letter from Republican Senator Tom Cotton to Intel's board chairman seeking answers about Tan's business interests in China. Tan has said he has the full support of Intel's board and reached out to the White House to address what he described as "misinformation" about his record. - Shares of cannabis-linked companies rallied on Monday after President Donald Trump said he was considering reclassifying marijuana as a less dangerous drug — giving the sector a much needed boost. The stock of greenhouse production firm Village Farms International Inc. surged as much as 42% on Monday, its biggest intraday jump since June 2017. Tilray Brands Inc., (TLRY) Canopy Growth Corp., Aurora Cannabis Inc., SNDL Inc. and Cronos Group Inc. all climbed by double digits after the US president told reporters at the White House on Monday that he was looking at making the change over “the next few weeks.”
- Dole (DOLE) shares fall 5.8% after the produce company cut is annual adjusted Ebitda forecast. Additionally, on the conference call, it said that industry specific challenges and less favorable weather conditions in much of Central America, as well as strong market demand, put pressure on industry supply and sourcing costs.
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