David Faber and Jim Cramer drilled down on two big stories from the world of mega-tech: Microsoft announced it is laying off about 9,000 employees worldwide

in its latest round of job cuts, while Tesla saw its shares rise on the company's Q2 deliveries report. Also in focus: Big banks boost dividends and announce stock buybacks,

a negative surprise in the ADP jobs report, Centene shares plummet and drag health insurers lower after the company pulls its guidance, Jefferies upgrades Apple to "Hold,"

Paramount’s $16 million settlement with President Trump, OpenAI CEO Sam Altman vs. Meta's poaching, the group of tech stocks Cramer now calls "MNMs."

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