Chicago for what is moving this stock. Phil reporter melissa it is not just that the q2 loss was greater than expected, tesla losing 1. 12 per share. The estimate was for a loss of 1. 40 a share the estimates were all over the map, a wide range there. Revenue coming in at 6. 35 billion, a little shy of expectations it is the automotive Gross Margins that will get a lot of attention here they came in at 18. 9 . Remember, the concern was those margins were going to be squeezed as they were pushing out the model 3, was that push to make deliveries of more than 90,000 going to hurt margins coming in at 18. 9 when many people were looking for them to be at least 20 . By the way, thats down not only compared to the Second Quarter of last year but also compared to First Quarter of this year where both of the quarters, the automotive gross margin topped 20 . They do reiterate their guidance of delivering between 360,000 and 400,000 vehicles this year the shanghai plant is on schedule to open b
Competition in the space. A weight loss drug promising competition for big players. Could it mean an acquisition is in the future. We will dive into it. Im melissa. Tim see more, Courtney Garcia and guy awe daumie. The nasdaq jumping more than a percent, notching the first record intraday high since before thanksgiving 2021. The techheavy index closing below 16,300. The s p also marking alltime highs putting in its 15th record close since january 1st, but there have been one notable name sitting out of the market rally. Apple posting another loss today and is now down nearly 10 since hitting its record in middecember. Whatever happened to that old idea that we like to say, bandy around here, that markets could not go higher without apple . What does it mean for the rally . Is this actually good news for the market, guys . Im one who adhered to that. Again we play the game often. Guy, if i told you that apple would be hold on. Is that a third person reference . Not the way i could have.
Today. Down more than 10 as shocking Sexual Assault allegations about casino mogul steve wynn emerge lets get to Contessa Brewer in the newsroom with the details in the developing story. Reporter these allegations date back more than a decade and the wall street journal outlines a pattern of Sexual Misconduct by Ceo Steve Wynn the report details multiple instances of alleged misconduct including an assault against a manicurist who was awarded a 7. 5 million settle men and many other forced sexual encoupers with employees wynn says the idea i assaulted any woman is preposterous. And then he blames his exwife for instigating the allegations. Her lawyers tell the wall street journal she was not involved there a representative from the company says blamed her. Again, the attorney said she is not involved in those allegations. Wynn owns a 12 stake in the company, is regarded as crucial to its success before the company went public it wrote in its s1 filing our ability to maintain a Competit
Year this all has been happening as treasury yields started to pick up yesterday that kicked off the concerns the twoyear treasury yesterday topping 2. 16 . That was the highest level since september 8, 2008. You can see the twoyear this morning, yields have come back down a bit 2. 108 the tenyear is where the focus was yesterday. The yield there nearing 2. 73 . That yield backed off a bit, too. We will see the last meeting of fed chair janet yellen today at the fomc nice stories about janet yellen today the finale here as jay powell gets ready to begin february 1st. Some big stories were watching this morning jpmorgan saying that jamie dimon will stay in his role for about five more years. That time frame could suggest hes not planning on running for Political Office which has been speculated about for some time we talked to him about that last week in davos on this show the bank is promoting daniel pinto and gordon smith to copresident s and coos pinto oversees Corporate Investment b
Up 14 on results this morning twitter a huge gainer this morning, well talk about its 8 pop. And then theres wynn, youve been hearing about that, a huge decline. Around noon eastern when news broke of Sexual Misconduct allegations against founder and Ceo Steve Wynn lets bring Contessa Brewer back in with some of the latest details on that. These allegations date back more than a decade and the wall street journal outlines a pattern of Sexual Misconduct by Ceo Steve Wynn the report details Sexual Assault bins manicurist who was later awards a 7. 5 million lawsuit and other forced sexual encounters with massage therapists and the like. Other sources tell cnbc that steve wynns behavior with employees was an open secret for decades in las vegas but they feared to speak out for fear of their jobs steve wynn said, the idea i assaulted any woman is preposterous then he goes on to blame his exwife, elaine wynn, for instigating the accusations. A statement from the company also blames her for t