JM Smucker says it sold $1 billion worth of Uncrustables in FY2026
US gas prices drop for the third week in a row to an average of $4.12
Intel soars on double rating upgrade from BofA on CPU growth
Marijuana company Trulieve begins trading on NYSE
Strait of Hormuz is closed to all oil tankers and commercial ships, Iran military says
Lucid trading at fresh all-time low following departure of engineering and software SVP Emad Dlala
Latest News
- Alphabet’s Waymo is getting into the subscription — and Uber’s — business
- Investors slice $2 billion out of bitcoin ETFs so far in June
- DOJ charges 2 in connection with $389 million cryptocurrency-laundering operation
- Bond yields and inflation are back in the driving seat for stocks, ahead of PPI release
Latest Stories
JM Smucker says it sold $1 billion worth of Uncrustables in FY2026
After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.
On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, it managed to sell $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.
US gas prices drop for the third week in a row to an average of $4.12
As we approach mid-June, the national average of US gas prices has been dropping for three weeks in a row, giving some relief to drivers traveling during a busy summer season. Since May 21, prices have fallen from $4.56 a gallon and are currently at $4.12 due to crude oil prices staying below $100 per barrel, according to the American Automobile Association.
US gas prices have a tendency to peak during this time of the year, and the uncertainty associated with the Strait of Hormuz has made them more volatile and unpredictable. While gas prices have remained around four-year highs, they’re still far from when they reached their highest, at $5 per gallon in June 2022.
GasBuddy’s Patrick De Haan posted on Wednesday that motorists today will be spending approximately $137 million less on gas than they did a month ago, but $385 million more than a year ago.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Prediction markets show traders currently pricing in an 81% chance that US gas prices will drop below $3.80 this year.
US gas prices have a tendency to peak during this time of the year, and the uncertainty associated with the Strait of Hormuz has made them more volatile and unpredictable. While gas prices have remained around four-year highs, they’re still far from when they reached their highest, at $5 per gallon in June 2022.
GasBuddy’s Patrick De Haan posted on Wednesday that motorists today will be spending approximately $137 million less on gas than they did a month ago, but $385 million more than a year ago.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Prediction markets show traders currently pricing in an 81% chance that US gas prices will drop below $3.80 this year.
Intel soars on double rating upgrade from BofA on CPU growth
Intel shares are surging following a double rating upgrade from Bank of America, which flipped its stance on the company from bearish to bullish.
Bank of America raised its rating on Intel to “buy” from “underperform,” boosting its 12-month price target to $135 a share from $96.
Shares of Intel rose 5.2% in recent trading, bringing the stock’s gains thus far in 2026 to more than 200%.
Analyst Vivek Arya noted “higher confidence in INTC’s opportunity to help address industry constraints in leading edge wafers/packaging” and its ability to capture a “much larger” agentic CPU market.
Bank of America heavily increased its estimate for the global server CPU total addressable market (TAM), predicting it will skyrocket to more than $170 billion by 2030. Analysts highlighted the rise of agentic AI as a critical tailwind that will require a massive volume of traditional x86 server chips.
Beyond standard chip architecture design, the report also shows confidence in Intel’s customized manufacturing services. BofA analysts now project that its server CPU revenue could top $40 billion by the end of the decade.
Momentum was built around Intel Foundry services as surging global AI demand continuously outpaces capacity. Just last week, Google reportedly placed an order with Intel to manufacture more than 3 million of its increasingly popular tensor processing unit chips in 2028. According to the report, Nvidia is also testing to see if Intel could manufacture its next-gen Feynman chips.
Oracle is trying really hard to convince investors it won’t have a debt problem
It’s coming up with new metrics to allay fears about its ballooning capex and debt load.
US Attorney David Metcalf announced Thursday the arrests of Ruslan Igorevich Tkachuk and Alexander Vladimirovich Ledenev, alleged senior members of AudiA6, a cryptocurrency money-laundering service believed to be responsible for laundering over $389 million.
The arrests coincided with a coordinated international takedown of AudiA6 and its infrastructure, involving the search of three properties, the seizure of servers and domains connected to the organization, as well as freezing cryptocurrency assets, according to a Department of Justice press release.
Tkachuk and Ledenev were “charged by criminal complaint with one count of conspiracy to launder monetary instruments and one count of sting money laundering,” the DOJ said. If convicted, they face a maximum possible sentence of 20 years of incarceration.
Per the criminal complaint, AudiA6 offered services to conceal the origin of cryptocurrency linked to criminal activity, charging fees of up to 5% of the amount laundered.
The two defendants are in custody of Republic of Georgia authorities, and the US Attorney’s Office aims to seek their extradition to the Eastern District of Pennsylvania.
Chinese EV makers sink to 52-week lows as regulators warn about price war
Several US-listed ADRs of major Chinese EV makers are trading at fresh lows, following reports of domestic sales continuing to stagnate and Chinese regulators warning the companies about their price war.
XPeng, BYD, and Li Auto each hit 52-week lows on Thursday morning.
According to CnEVPost, Chinese regulators summoned automakers suspected of taking part in “irrational” competition on Thursday, warning them to comply with price laws and regulations. China has struggled to crack down on a downward pricing trend among automakers jostling for market share for the better part of a year.
Earlier this week, BYD and Nio were added to the Pentagon’s “Chinese Military Companies” list. Both automakers refuted the designation and left legal action on the table. Nio appears to be seeing a modest stock price boost from the rollout of an update to its Onvo-branded L60 SUV.
According to CnEVPost, Chinese regulators summoned automakers suspected of taking part in “irrational” competition on Thursday, warning them to comply with price laws and regulations. China has struggled to crack down on a downward pricing trend among automakers jostling for market share for the better part of a year.
Earlier this week, BYD and Nio were added to the Pentagon’s “Chinese Military Companies” list. Both automakers refuted the designation and left legal action on the table. Nio appears to be seeing a modest stock price boost from the rollout of an update to its Onvo-branded L60 SUV.
Marijuana company Trulieve begins trading on NYSE
Trulieve officially began trading on the New York Stock Exchange on Thursday, becoming the first American plant-touching cannabis company to do so.
Major exchanges have historically not allowed companies that grow or sell weed in the US to list. Instead, they have traded on low-liquidity over-the-counter exchanges or Canadian exchanges.
Trulieve, which went public in 2018 with a Canadian Securities Exchange listing, is now trading on the NYSE under the ticker TRLV.
Following recent regulatory changes, Trulieve successfully applied to list on the NYSE after it spun off its recreational cannabis business. Other companies have indicated that they are gearing up to do the same.
Trulieve, which went public in 2018 with a Canadian Securities Exchange listing, is now trading on the NYSE under the ticker TRLV.
Following recent regulatory changes, Trulieve successfully applied to list on the NYSE after it spun off its recreational cannabis business. Other companies have indicated that they are gearing up to do the same.
Welcome to the OpenAI, Anthropic, and Google price wars
It’s the clearest signal yet that AI models are becoming commoditized.
Strait of Hormuz is closed to all oil tankers and commercial ships, Iran military says
In retaliation to US strikes, the Islamic Republic of Iran announced that the Strait of Hormuz is fully closed as of early Thursday morning in Tehran. The attacks from the US were separate from a series of retaliatory drone and missile launches overnight Tuesday into Wednesday.
President Donald Trump told Fox News in a phone interview on Wednesday night that “the bombing will stop soon,” but if Iran doesn’t sign the agreement put forward by special envoys Steve Witkoff and Jared Kushner, “we’ll bomb the shit out of them tomorrow night.”
When asked whether the ceasefire still stands, Trump described it as “the most violated ceasefire in the history of the world,” per Fox News.
According to Al Jazeerah, Iran’s Mehr news agency reported that Iran’s joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.
This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.
US CENTCOM announced the series of strikes beginning at 5:15 p.m. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ’em hard tonight” before later saying he would not broadcast whether the military would take any action.
Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported that two ships attempting to cross were attacked.
This story is developing.
President Donald Trump told Fox News in a phone interview on Wednesday night that “the bombing will stop soon,” but if Iran doesn’t sign the agreement put forward by special envoys Steve Witkoff and Jared Kushner, “we’ll bomb the shit out of them tomorrow night.”
When asked whether the ceasefire still stands, Trump described it as “the most violated ceasefire in the history of the world,” per Fox News.
According to Al Jazeerah, Iran’s Mehr news agency reported that Iran’s joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.
This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.
US CENTCOM announced the series of strikes beginning at 5:15 p.m. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ’em hard tonight” before later saying he would not broadcast whether the military would take any action.
Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported that two ships attempting to cross were attacked.
This story is developing.
Oracle Q4 earnings and revenue top estimates; hyperscaler plans more debt issuance to support massive capex push
The company posted Q4 FY 2026 earnings Wednesday after the bell.
Belgium just became the fifth European country to approve a version of Tesla’s Full Self-Driving technology, according to a post from a transport minister there — something CEO Elon Musk said was necessary to turn around sales in the company’s “weakest market.” The country follows on the heels of Denmark, Estonia, Lithuania, and the Netherlands.
Tesla sales in Europe notably have been stabilizing without wide approval of FSD, which the company has said would be approved across the EU in the second or third quarter.
The version of FSD available in Europe, the company’s third-largest market, comes with stricter safety requirements and closer driver monitoring than in the US, where the tech has so far failed to drive notable sales growth.
Lucid trading at fresh all-time low following departure of engineering and software SVP Emad Dlala
Lucid is continuing to sink to all-time lows, hitting a fresh bottom on Wednesday afternoon. The luxury EV maker is on track to close below the $5-per-share mark for the first time and is down about 54% so far this year.
All-time lows are nothing new for Lucid, which is down more than 99% from its early 2021 peak.
Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.
In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.
Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.
In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.
Solana shoves all in on poker with new partnership
If you’ve got money locked up on-chain and an itch to gamble with it in a new way, has the World Series of Poker got good news for you. The WSOP announced it will integrate solana’s blockchain technology into the tournament through crypto payments firm MoonPay.
At its big summer event, players will have the option to buy into tournaments using crypto directly for the first time. In the WSOP’s Bahamas event in December, winners will be able to receive settlements in stablecoins on solana, reducing friction with international settlements.
The play is never the move. It's the mind behind it.
— Solana (@solana) June 10, 2026
The World Series of Poker. Now dealt by Solana. pic.twitter.com/EUPJikTWb4
“Solana’s ecosystem, like the WSOP, constantly challenges conventions and remains laser-focused on the consumer experience,” WSOP CEO Ty Stewart said in a statement. “Solana’s speed and efficiency mirror the fast-paced energy of our tournaments, and we are excited to showcase their technology to our global audience.”
The price of solana dipped slightly today, but has dropped more than 48% in 2026, data from CoinMarketCap shows.
Solana has been a popular network, in part from meme coin trading over the past two years, involving viral animal sensations as well as political figures such as President Donald Trump and first lady Melania Trump as well as Argentine President Javier Milei.