Business
Tesla posts record Q2 deliveries, beating Wall Street expectations
Glen Smith, GDS Wealth Management CIO, notes the market is broadening beyond tech giants. He suggests dollar-cost averaging into positions amidst current volatility, seeing opportunities in other sectors like healthcare and financials.
Tesla reported strong second-quarter deliveries Thursday, blowing past Wall Street expectations as a rebound in Europe helped fuel hopes that the electric vehicle maker can return to annual growth.
The Austin, Texas-based company delivered 480,126 vehicles from April through June, a record for the second quarter, up about 25% from a year earlier and well above the 402,776 vehicles analysts expected, according to Visible Alpha data.
Tesla produced 451,758 vehicles during the quarter, meaning deliveries outpaced production by roughly 28,000 vehicles as the company worked through inventory built up earlier in the year.
SPACEX MOVES TO LAUNCH HIGHLY ANTICIPATED IPO

Tesla electric vehicles fill a car lot in Smithtown, N.Y., July 5, 2023. (John Paraskevas/Newsday RM via Getty Images)
Strong results from Tesla’s mainstay auto business offer a crucial cushion as CEO Elon Musk focuses on expensive ambitions in autonomous driving and artificial intelligence, the main drivers of the company’s roughly $1.6 trillion valuation.
Shares of the Austin, Texas-based company were down more than 7% at the close of Thursday. Analysts and investors said optimism had been priced in as the stock gained 12% earlier this week.
Tesla’s recovery in Europe was aided by a surge in fuel prices, government EV incentives, faster electrification of corporate fleets and easing of the consumer backlash over CEO Elon Musk’s politics.
“I think the huge growth in Europe is the key driver for Tesla right now. U.S. sales still appear to be down, albeit less than the broader U.S. EV decline, while China is seeing small growth,” Seth Goldstein, senior equity analyst at Morningstar, said.
Goldstein, who had expected a third straight annual decline, said after the report, “I think it would be very hard to see a decline for the full year at this point.”
TESLA RECALLS MORE THAN 218K VEHICLES OVER REARVIEW IMAGE ISSUE THAT POSES CRASH RISK

A Tesla robotaxi travels on the street along South Congress Avenue in Austin, Texas, on June 22, 2025. (Joel Angel Juarez/Reuters)
Tesla last year introduced stripped-down, lower-cost variants of its Model 3 compact sedans and Model Y SUVs and deployed attractive incentives and financing options.
“Their pricing and their products are helping the buyers overcome any issues they might have with Elon Musk personally,” said Sam Fiorani, vice president at research firm AutoForecast Solutions.
Demand in the U.S., Tesla’s biggest market, however, remained strained after removal of the EV tax credits late last year.
“We’re cautiously optimistic for some growth this year,” Fiorani said.
Analysts said the elimination of incentives for new EV purchases in the U.S. last year continues to weigh on sales, while some refreshes to the aging model lineup have led to stronger performance in the Chinese market.
“We believe Tesla’s U.S. sales likely declined by at least 10% in the quarter,” said Freedom Broker senior analyst Dmitriy Pozdnyakov.
MUSK SAYS TESLA, SPACEX TO BUILD ADVANCED CHIP MANUFACTURING FACILITY

Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center June 16, 2023, in Paris, France. (Chesnot/Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 393.45 | -31.85 | -7.49% |
The company’s China-made EV sales have risen this year, helped by production of the refreshed Model Y, despite intense competition from BYD and other domestic automakers.
The company said it will report quarterly results on July 22 after markets close.
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Musk briefly became the world’s first trillionaire last month after SpaceX began trading publicly on the Nasdaq at $150 a share, above its $135 IPO price.
Musk’s net worth stood at $982 billion as of Wednesday, according to the Bloomberg Billionaires Index.
Reuters contributed to this report.
Business
Microsoft layoffs could affect 4% of its workforce next week
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Microsoft is expected to lay off up to 2.5% of its workforce as early as next week.
The cuts, which could affect 5,000 employees, may impact sales, consulting and the Xbox gaming unit, according to a report from Business Insider Tuesday.
The layoffs would mark the latest round of restructuring in the tech sector as companies continue to cut costs while directing more resources toward artificial intelligence (AI).
Last summer, Microsoft laid off roughly 4% of its workforce, or about 9,000 employees, in one of the company’s largest rounds of job cuts in recent years.
MICROSOFT ANNOUNCES ANOTHER ROUND OF LAYOFFS AFFECTING THOUSANDS OF WORKERS

A Microsoft office in New York in July 2025 ahead of the company hitting $4 trillion in market cap. (Adam Gray/Bloomberg via Getty Images / Getty Images)
According to Microsoft’s latest annual filing with the Securities and Exchange Commission (SEC), the company employed roughly 228,000 full-time workers worldwide as of June 30, 2025.
A 2.5% reduction in that workforce would amount to approximately 5,700 job cuts.
Sources said some employees affected by the latest round of layoffs will be offered new roles within the company immediately, Business Insider reported.
MICROSOFT WILL LAY OFF NEARLY 6,000 EMPLOYEES IN PUSH FOR EFFICIENCY

A pedestrian walks past a sign on the Microsoft campus July 17, 2014, in Redmond, Wash. (Stephen Brashear/Getty Images / Getty Images)
In the past month, Microsoft’s stock slumped about 19%, marking one of its worst monthly performances since the dot-com crash.
Investor concerns have risen as Wall Street analysts warn that AI could eventually replace certain software services, which may include offerings from Microsoft.
MICROSOFT PLANS ‘SUBSTANTIAL’ JOB CUTS ACROSS XBOX DIVISION
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 390.49 | +6.21 | +1.62% |
Last month, Xbox CEO Asha Sharma sent a memo to employees calling for a “reset” of the business after months of uneven performance.
The Verge on Tuesday also reported that the gaming division is planning layoffs starting next week. The cuts are expected to be significant, with reductions to marketing and budgets, according to Bloomberg early last month.
The restructuring could lead to studio closures, mergers, spin-offs and canceled game projects, the Verge reported.
Xbox also recently raised prices on its gaming consoles by an additional $100 to $150 worldwide, citing increased demand for memory and storage driven by the AI boom.

Visitors walk past the Xbox booth at the Gamescom video games trade fair in Cologne, Germany, Aug. 22, 2024. (Ina Fassbender/AFP via Getty Images / Getty Images)
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Sources said the 2026 round of layoffs appears to be smaller after the company earlier this year introduced a voluntary retirement buyout program, which led to a significant number of employees exiting, according to BI.
Roughly one-third of eligible employees reportedly opted in.
Last year, Microsoft reportedly eliminated roughly 15,000 roles across multiple rounds of layoffs, including about 6,000 positions in May followed by 9,000 employees in July.
FOX Business reached out to Microsoft for more information.
Business
Omada Health CAO Craig Gracey sells $23,561 in company stock

Omada Health CAO Craig Gracey sells $23,561 in company stock
Business
Intel Revives Old Raptor Lake Chip Production Lines for China as Global Memory Shortage Drives DDR4 Comeback
SANTA CLARA, Calif. — Intel has restarted production of its 13th and 14th Generation Core processors, a chip family nearly three years removed from its original launch, specifically to supply the Chinese personal computer market amid an unprecedented global memory shortage that has made the older platform’s compatibility with DDR4 memory a newly valuable asset rather than a legacy limitation.
The move, first reported by ChannelGate, reflects a broader and somewhat counterintuitive trend reshaping the PC component market in 2026: the surging demand for artificial intelligence computing has created a chip shortage so severe across every memory category that manufacturers and consumers in certain markets are turning back to older, DDR4-compatible hardware platforms rather than competing for the limited supply of DDR5 that the AI industry is consuming at record rates.
Intel’s 13th Generation Core processors, based on the Raptor Lake architecture and launched in late 2022, and the 14th Generation Raptor Lake Refresh chips that followed roughly a year later in 2023, both share the same LGA-1700 socket and support both DDR4 and DDR5 memory. That dual-memory support, which Intel built into the platform at a time when DDR5 was still too expensive and scarce for mainstream adoption, has taken on entirely new commercial significance in 2026 because vast amounts of DDR4 memory capacity currently sit underutilized while DDR5 remains under extraordinary demand pressure from data centers and AI accelerator systems.
By restarting Raptor Lake production, Intel can absorb some of that available DDR4 supply and channel it toward PC OEM manufacturers and do-it-yourself PC enthusiasts in mainland China, a market that remains one of the world’s largest consumers of desktop processor hardware across both gaming and productivity computing categories. The restarted production targets specifically those use cases rather than enterprise or workstation applications, positioning the older generation chips as a pragmatic, cost-effective solution for consumers who want capable computing hardware but cannot easily access or afford DDR5-based systems in the current supply environment.
The original 13th Generation Core lineup launched in October 2022 and covered a full product stack from entry-level Core i3 chips to the flagship Core i9-13900KS, which pushed boost frequencies to 6.0 gigahertz, an industry milestone at the time of its release. Intel then shipped the 14th Generation Raptor Lake Refresh in late 2023 on the same LGA-1700 socket, offering moderate performance improvements through targeted adjustments to die-to-die frequency, ring bus frequency and core base and boost clock speeds rather than a fundamental architectural redesign. The flagship of that generation, the Core i9-14900KS, pushed the single-core boost frequency to 6.2 gigahertz, a 200-megahertz improvement over its predecessor.
Both generations came with a significant controversy attached to them in the form of instability issues that affected high-end Raptor Lake and Raptor Lake Refresh desktop processors, particularly when run with elevated power and voltage settings. Intel issued multiple microcode updates throughout 2024 and 2025 to address those stability problems, and the company eventually extended warranty coverage for affected chips as documentation of the issue accumulated in the enthusiast community. The production restart presumably involves chips manufactured with the updated microcode and voltage guidance already incorporated, though Intel has not provided specific detail on whether the restarted production includes any physical or silicon-level changes to the chips beyond the software fixes previously distributed.
Intel is also expected to increase supply of 10th and 12th Generation Core processors through a parallel production expansion, according to ChannelGate, though the primary focus of the restart effort is concentrated on the 13th and 14th generation platforms. The 12th Generation Alder Lake processors, launched in late 2021, also supported both DDR4 and DDR5, making them another viable option for the same market dynamic, though the 13th and 14th generation chips offer better performance efficiency and a wider ecosystem of compatible hardware that is likely already embedded across the Chinese retail and OEM supply chain.
The broader context for Intel’s decision is a global PC market that has been quietly recovering from the post-pandemic demand collapse even as the AI chip boom consumes the sector’s most advanced manufacturing capacity. Worldwide PC shipments rebounded through 2025 and into 2026 as consumers and enterprises that deferred hardware upgrades during the years of post-pandemic correction began refreshing aging equipment, a replacement cycle that analysts have expected to accelerate further as artificial intelligence features become more integrated into client computing devices. China’s domestic PC market, which operates with a distinct mix of local OEM brands, international PC makers and a substantial enthusiast gaming segment, remains large enough that even a targeted production restart for a three-year-old chip generation can generate meaningful commercial volume.
For Intel, the production restart also carries practical manufacturing logic beyond its commercial rationale. The LGA-1700 platform tooling and production lines are already established assets that can be reactivated without the full capital expenditure of building out a new process node or manufacturing flow from scratch. Restarting production on mature nodes allows Intel to utilize manufacturing capacity that might otherwise sit idle as the company concentrates its leading-edge node efforts on newer architectures intended for the AI PC and data center markets, where competition from AMD and Qualcomm has been intensifying throughout the first half of 2026.
Demand for semiconductors across all categories remains at historic levels, driven by the AI industry’s extraordinary appetite for computing hardware at every tier of the market. That demand has not only kept advanced memory and logic chips scarce at the top of the market but has cascaded backward through supply chains in ways that have made even relatively mature, established platforms newly relevant in markets and applications where the primary constraint is availability and cost rather than raw performance. Intel’s decision to restart Raptor Lake production for China illustrates how unusual the current moment is for the semiconductor industry, a period in which the best available product is not always the most commercially rational one, and the industry is reaching back several generations to find components it can actually build and sell to customers who need computing hardware now.
Business
Sam’s Club rotisserie chicken beats Costco, Consumer Reports says
Fox News correspondent Eric Shawn joined ‘Varney & Co.’ to report on President Donald Trump’s plan to restrict Iranian diplomats in New York, including a possible ban on shopping at Costco and Sam’s Club.
Costco’s iconic $4.99 rotisserie chicken has earned a cult-like following among shoppers for years, but Consumer Reports says Sam’s Club now has the best bird in the warehouse club business.
After evaluating rotisserie chickens from 10 grocery chains, warehouse clubs and big-box retailers, Consumer Reports named Sam’s Club’s Member’s Mark Seasoned Rotisserie Chicken its top overall pick, edging out Costco’s Kirkland Signature bird.
According to Consumer Reports, tasters gave Sam’s Club the edge for its flavor, seasoning and juicy texture. Costco’s chicken also landed among the publication’s top picks, though reviewers found the seasoning to be less consistent between samples.
CUSTOMERS UPSET AFTER COSTCO MAKES CHANGE TO ROTISSERIE CHICKEN

Rotisserie chickens cook inside a commercial roasting oven. Consumer Reports evaluated chickens from warehouse clubs, grocery stores and big-box retailers based on taste, nutrition and other factors. (Getty Images / Getty Images)
The results may come as a surprise to Costco shoppers, whose devotion to the retailer’s rotisserie chicken has helped make the $4.99 bird one of the company’s signature products.
Costco has held the price steady for years despite inflation, using the popular item as one of its best-known value offerings and a draw for shoppers. The retailer’s loyal customers have even voiced frustration over seemingly minor changes to the product, including 2024’s switch from plastic clamshell containers to bags.
Consumer Reports did not publish a traditional first-through-10th ranking. Instead, it grouped the chickens into those it considered flavorful enough to serve on their own and those better suited for recipes such as soups, salads and sandwiches.
COSTCO CEO SAYS 1 ITEM IS MORE IMPORTANT THAN EVERYTHING ELSE SOLD IN THE STORE

Rows of freshly cooked rotisserie chickens are displayed for sale at a grocery store. Consumer Reports recently ranked rotisserie chickens from 10 major retailers, naming Sam’s Club its top overall pick. (Getty Images / Getty Images)
Along with Sam’s Club and Costco, the top group included Stop & Shop, Walmart, Wegmans and Whole Foods Market. BJ’s Wholesale Club, Hannaford, ShopRite and The Fresh Market fell into the second category.
FOX Business has reached out to Costco and Sam’s Club for comment.
WHY COSTCO HOT DOGS HAVE KEPT $1.50 PRICE TAG SINCE 1985

A Costco store in Vallejo, Calif., May 29, 2025. (David Paul Morris/Bloomberg / Getty Images)
The evaluation went beyond taste. Consumer Reports purchased between 10 and 13 chickens from each retailer across multiple store locations and shopping trips.
Researchers weighed each bird, compared sodium levels with nutrition labels, conducted blind taste tests and screened the meat and packaging for chemicals commonly associated with plastics.
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Among its findings, Consumer Reports said it detected no PFAS in any of the meat or packaging it tested. It also found that many chickens weighed more than the net weight listed on their labels, with Whole Foods’ birds averaging about a pound heavier than advertised, effectively lowering their per-pound cost.
Business
Jeff Bezos’ family office backed five AI startups in June
Jeff Bezos attends the Viva Technology show at Parc des Expositions on June 17, 2026 in Paris, France.
Chesnot | Getty Images Entertainment | Getty Images
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Thanks to Jeff Bezos, summer is off to a strong start for investment firms of the ultra-rich.
In June, the Amazon founder’s family office made five direct investments in startups, accounting for 10% of family office dealmaking, according to exclusive data provided by Fintrx, the private wealth intelligence platform. Bezos Expeditions is now the most active family office investor thus far this year with eight direct investments in private companies, per Fintrx data.
The 21-year-old family office participated in five megarounds for artificial intelligence startups last month, including a $12 billion Series B for Prometheus. The startup, now valued at about $41 billion, counts Bezos as a cofounder and co-CEO. Prometheus aims to create an “artificial engineer” that will speed up the design and manufacturing of physical products from jet engines to pharmaceuticals, Bezos told CNBC’s David Faber on June 11.
“What drives the wealth of nations? What drives civilizational wealth? … The answer is invention,” Bezos said on in an interview on “Squawk Box.” “Our goal at Prometheus, what we’re working on is building a set of tools that accelerate that invention loop. So, how long does it take to improve something? How long does it take to – from idea to actually manufacturing, seeing it rate and have a useful object?”
He added that Prometheus has had to raise so much capital — more than $18 billion to date — in order to build massive datasets, which requires a lot of compute power.
While Prometheus takes up most of Bezos’ time, his namesake investment firm added four new startups to its portfolio with nine-figure rounds: General Intuition, CuspAI, Generalist and Flourish.
Bezos Expeditions’ portfolio illustrates the breadth of approaches and aims for developing AI models. The family firm co-led the fundraises for CuspAI, which is building AI models for chemistry, and Flourish, a startup developing models inspired by the human brain. Another new investment, Generalist, is focused on enabling robots to handle increasingly complex tasks.
Hillspire, the family office of ex-Google CEO Eric Schmidt, also participated in General Intuition’s $320 million Series A. General Intuition is using millions of hours of video gameplay to train spatial AI models.
Bezos told CNBC earlier this spring that he is unconcerned about an AI bubble.
“Even if it does turn out to be a bubble, you shouldn’t worry about it because the bubble is driving investment and a lot of the investment is going to turn out to be very healthy,” Bezos said in an interview with Andrew Ross Sorkin on “Squawk Box” in May. “Investors at this moment haven’t learned yet how to discriminate between good ideas and bad ideas, and that’s OK, because the good ideas will pay for all of the losers.”
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Cerus Corp chief legal officer Chrystal Jensen sells $71,597 in stock

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