📈 Stocks / Finance

Intel stock jumps 5.5% on layoff report ahead of earnings

Yahoo Finance

Intel rose 5.5% after reports it plans to cut 20% of its workforce. The move comes before earnings and amid efforts to revive its foundry business and catch up in AI chips. Shares are still down 2.7% YTD after a 60% drop in 2024.

IBM Beats Q1 Estimates but Shares Drop on Macro Concerns

Investor’s Business Daily

IBM reported Q1 earnings of $1.60 per share on $14.54B in revenue, topping forecasts. Q2 guidance also beat estimates at $16.4–$16.75B. Despite strong AI-driven software growth, shares fell 4% amid tariff concerns and federal IT contract cuts.

Tesla stock jumps as Musk shifts focus back to company

Yahoo Finance

Tesla shares rose 5.4% after Elon Musk said his time at DOGE will 'drop significantly,' pledging renewed focus on Tesla amid weak Q1 results. Revenue missed estimates at $19.34B vs. $21.43B. Margins beat forecasts; volume guidance paused due to tariff uncertainty.

🪙 Crypto

Crypto fraud losses hit $9.3B in 2024, FBI reports

Coin Telegraph

FBI data shows U.S. crypto fraud losses surged 66% to $9.3B in 2024, driven by investment scams. Seniors over 60 suffered $2.8B in losses. Over 140,000 complaints were filed, with ‘sextortion’ scams the most common. Global illicit crypto volume hit $41B.

🌎 Global Economy

Europe stocks surge on easing U.S.-China trade tension hopes

CNBC

The Stoxx 600 closed up 1.78%, led by tech gains of 3.96%, as hopes rose for de-escalation in U.S.-China trade tensions. Treasury Sec. Bessent signaled a potential deal, while SAP boosted the DAX 3.14% with a 58% profit jump.