Squawk on the Street A Tale of Two Tech Earnings, UNH DOJ Investigation, Live: Commerce Secretary Lutnick 7/24/25
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Jul 24, 2025 
Howard Lutnick, the U.S. Commerce Secretary, joins to delve into crucial trade discussions with the EU, emphasizing the urgent need for finalizing a trade deal. The impacts of a significant $550 billion investment between Japan and the U.S. also take center stage. Meanwhile, mixed earnings results are analyzed, highlighting Alphabet's success against Tesla's struggles. Regulatory challenges loom as UnitedHealth faces a DOJ investigation, signaling heightened scrutiny in healthcare billing practices.
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Alphabet's Earnings Strength
- Alphabet's earnings beat was driven by strong demand in cloud and paid search clicks.
- YouTube ad revenue is robust, nearing a $40 billion annual run rate, reflecting its dominance as a user platform.
Tesla's Shift to Robo-Taxis
- Tesla showed declines in income, auto revenue, and vehicle sales, with carbon credit revenue down drastically.
- Elon Musk's focus has shifted to autonomous robo-taxis, projecting major future growth despite current core business pressures.
Potential Rail Merger Talks
- Union Pacific and Norfolk Southern are in advanced talks about a business combination.
- Potential rail consolidation could ease congestion and improve competitiveness, but regulatory approval remains uncertain.
