Luke Kawa2/11/25

S&P 500 goes nowhere as Tesla tumbles

The S&P 500 went nowhere on Tuesday while the Nasdaq 100 and Russell 2000 retreated.

Consumer discretionary was far and away the worst-performing S&P 500 ETF; most gained on the day, led by consumer staples.

Tesla was bedeviled by a swath of negative news, including negative analyst commentary, poor January sales figures, and the progress that competitor BYD has made on its self-driving system.

Super Micro Computer’s torrid rally as of late reversed course in a hurry, with shares cratering ahead of its business update after the close.

On the other hand, chip darling of yesteryear Intel soared amid a flurry of bullish options activity and Vice President JD Vance’s pledge to boost domestic chip production.

Coca-Cola was a bright spot on the bad tape, posting a big gain after reporting higher-than-expected sales that included a boost to both volumes and prices.

AMC rocketed higher on elevated volumes and little news.

Financial data company FIS fizzled after reporting poor sales and providing underwhelming earnings guidance.

Hotel operator Marriott slumped after forecasting slower net room growth for 2025.

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Hims & Hers graphic. (Hims & Hers)

Hims enters a “strategic pivot” following blowback from its copycat Wegovy pill

After selling compounded GLP-1 drugs for two years, Hims is launching an expensive shift to branded treatments.

J. Edward Moreno31m

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Core inflation rises by more than expected in April

The April reading of the Consumer Price Index showed headline inflation rose 0.6% month-on-month, with core inflation (which strips out volatile food and energy prices) rising 0.4%.

Economists anticipated inflation to rise 0.6% month-on-month on a headline basis, with core up 0.3% versus March.

Headline inflation rose 3.8% on an annual basis.

Prediction markets pointed to a high degree of confidence in a 0.6% monthly rise for headline CPI, with the annual increase anticipated to be 3.7%, with less than 50% odds of rising more than that.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

The recent stability in labor market data coupled with the potential for another oil-induced inflation shock in light of the Iran war and closure of the Strait of Hormuz have prompted traders to price the end of the Federal Reserve’s easing cycle. Federal funds futures pricing implies a hike is a more than 50% probability at next March’s meeting.

Prediction markets are less hawkish, pricing 41% odds of a hike before July 2027 while still expecting a return to tightening in the second half of next year.

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Helena Cheng49m

Waymo recalls 3,800 robotaxis after software issue leads to flood incident

Alphabet-owned Waymo is recalling 3,791 autonomous vehicles in ‌the United States over a software glitch affecting its self-driving robotaxis. The recall follows an April 20 incident in which an unoccupied Waymo drove into a flooded lane in San Antonio, prompting Waymo to review similar scenarios. Waymo said there were no injuries from the incident.

The recall targets a software flaw that may allow vehicles to maintain high speeds when entering standing water, increasing the risk of a crash, Reuters reported, citing a statement by the National Highway Traffic Safety Administration (NHTSA).

The recall adds to a string of investigations this year focusing on the technology's performance in complex environments. Back in January, Waymo struck a child near a Santa Monica elementary school and the vehicles have been involved in several instances of passing stopped school busses.

As of early 2026, the company operates about 3,000 robotaxis across about 10 US metropolitan areas, providing over 500,000 paid rides per week.

Waymo recalls 3,800 robotaxis over risk of entering flooded roads

Waymo recalls 3,800 robotaxis over risk of entering flooded roads

The recall targets a software flaw that may allow vehicles to maintain high speeds when entering standing water, increasing the risk of a crash, Reuters reported, citing a statement by the National Highway Traffic Safety Administration (NHTSA).

The recall adds to a string of investigations this year focusing on the technology's performance in complex environments. Back in January, Waymo struck a child near a Santa Monica elementary school and the vehicles have been involved in several instances of passing stopped school busses.

As of early 2026, the company operates about 3,000 robotaxis across about 10 US metropolitan areas, providing over 500,000 paid rides per week.

D-Wave Quantum reports lower-than-expected Q1 sales, though backlog booms on major deals

Bookings at the end of Q1 were $33.4 million, up from $13.4 million in Q4 and $1.6 million a year ago.

Julich Research Center Inaugurates Europe's First 5,000+ Qubit Quantum Computer

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eBay rejects Gamestop’s unsolicited $56 billion takeover bid, calls it “neither credible nor attractive”

eBay rejected GameStop’s high-profile takeover proposal Tuesday, calling the bid “neither credible nor attractive” in a short letter from the online marketplace’s board of directors.

Earlier this month, GameStop CEO Ryan Cohen made the unsolicited offer, valuing eBay at about $56 billion — roughly 5x GameStop’s ~$11 billion market cap at the time — in a half-cash, half-stock deal.

In its rejection letter, eBay’s board cited “uncertainty” around GameStop’s financing proposal, the “leverage” and “operational risks” of a combined company, as well as GameStop’s “governance and executive incentives.”

That last concern is already drawing scrutiny, with Cohen facing questions over whether an eBay deal could affect his proposed GameStop pay package. Indeed, the video game and collectibles retailer filed a preliminary proxy statement with the SEC yesterday, asking shareholders to approve Cohen’s new pay package and authorize more shares. Under his new compensation package, Cohen's financial interests are entirely tied to those of shareholders, with cumulative awards at different market cap and EBITDA thresholds.

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