Today . Is that one of the reasons that fed into i mean, maybe it was a close choice between meta and Something Else and todays selloff in meta boosted it to the top pick it is the reason we chose it. It was not on our list but we had to make a gametime adjustment because this opportunity presented itself to us i think that the selloff is somewhat overdone, considering Mark Zuckerbergs problems as seo, considering the strength of the business, the valuation is not stretched at all thats the first pick next up is steady eddie, eddie george tim, lets get your reaction to the first pick some game theory by karen pointing out yesterday or the day before, meta has outperformed the s p for good reason by probably almost 175 in the last year or so if you think about what we heard last year, the year of efficiency might be gone they talked about higher costs, downgraded q1 and q2 slightly in terms of the top line. That adds up to a company that has had an enormous outperformance if you asked i
Unimpressed. Is this a sign that the ev maker can get back on track, or will a different reality set in for the stock . Im Courtney Reagan in this evening for melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, Karen Finerman, dan nathan, and guy adami. And we start off with meta shares plunging 11 after the company gave weak revenue guidance for the year. It also said capex would be higher than expected thatowing a beat on the top and bottom line it could be the worst drop since october 2022 Julia Boorstin is here to dig into the details what else stands out to you . Well, courtney, the better than expected results were very much outweighed by that lighter than expected Second Quarter revenue guidance, as well as higher than expected expense guidance the higher capex guidance reflects larger than planned investments in a. I. , including gpus, as well as in data center. She also told me that the companys higher total expense range is partially d
Ainsley it comes as secretary of state mike pompeo who you see there is pushing back against the congressional subpoenas. Steve Griff Jenkins is live in washington, d. C. Ahead of an urgent meeting that the Inspector General from the department of state is going to have with some people in one of those super street rooms up on capitol hill, griff . Griff thats right. A lot happening especially with secretary of state pompeo overcease. Accusing him of blocking congressional access. Pompeo is pushing hard against. Issuing this stern letter saying im concerned with aspects of the committees request that can be stood only as an attempt to intimidate, bully and treat them improperly the distinguished professionals including several career and Foreign Service officers. The democrats wasted no time respond fog that writing to deputy secretary of state John Sullivan claiming pompeo has a conflict of interest for reportedly participating in that ukraine call and trying to cover up Illicit Activ
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