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AI stocks shed $400 billion as tech rout enters second day
Edgen Stock·Jun 23 2026, 18:54Share to
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[1] The AI Trade Is Wobbling. Berkshire Hathaway Was Built for a Market Like This. (https://www.fool.com/investing/2026/06/23/ai- ...)[2] Accenture’s AI Shock: Why Consulting Stocks Are Becoming the Market’s New Automation Risk Test - Crypto Daily (https://cryptodaily.co.uk/2026/06/accenture-a ...)[3] 5 things to know before the stock market opens on Tuesday (https://www.msn.com/en-us/money/top-stocks/5- ...)[4] Stock Market News for Jun 23, 2026 (https://finance.yahoo.com/markets/stocks/arti ...)[5] Tech stocks tumble for a second day. Here's what's behind the selloff. (https://finance.yahoo.com/markets/stocks/arti ...)
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Jul 17 2026, 17:14
Regeneron hit with class action after failed trial erases 16% of value
Regeneron Pharmaceuticals Inc. faces a securities class action after its Phase III melanoma trial failed, wiping out about $7 billion in market value over two trading sessions. "Shareholders were misled about the viability of the Fianlimab-Libtayo study, which had fundamentally flawed statistical assumptions from the outset," Thomas J. McKenna, a partner at Gainey McKenna & Egleston, said in a statement announcing the lawsuit. The class period runs from Aug. 1, 2025 to May 15, 2026. On April 29, Regeneron disclosed during its first-quarter earnings call that it had expanded the number of patients eligible for progression-free survival analysis in the study, sending shares down 6.2% to $686.36 from $731.77 the prior day. Two weeks later, the company announced the trial "did not reach statistical significance for the primary endpoint of improvement in progression-free survival," triggering a second decline of 9.8% to $629.68. The combined selloff erased roughly 16% of Regeneron's value from its April 28 close. The complaint alleges that Regeneron's preliminary statistical assumptions were fundamentally flawed, that the active treatment arm was failing to achieve meaningful clinical differentiation over standard therapies, and that the trial would ultimately fail to reach statistical significance even without overperformance of the control arm. Regeneron was testing Fianlimab, a human monoclonal antibody targeting the LAG-3 immune checkpoint receptor on T-cells, in combination with Libtayo as a first-line treatment for advanced melanoma. The study began enrollment in mid-2022. Multiple law firms — including Robbins LLP, Gainey McKenna & Egleston, and Levi & Korsinsky — have filed or announced investigations into potential securities law violations. The lawsuit seeks to recover losses for investors who purchased Regeneron securities during the class period. The lead plaintiff deadline is Sept. 14. The case was filed in the U.S. District Court for the Southern District of New York. The failed trial removes a key pipeline candidate for Regeneron, which has relied heavily on its blockbuster eye drug Eylea for revenue. Investors will watch for any updates on the company's remaining late-stage pipeline assets and whether the litigation leads to settlement costs or governance changes. This article is for informational purposes only and does not constitute investment advice.
Jul 17 2026, 17:13
Tesla and Intel Q2 earnings offer 2 catalysts for Bitcoin
**Two of tech's biggest names report Q2 results within 24 hours of each other, and Bitcoin holders should be paying attention.** Tesla reports Q2 earnings July 22 after market close, with Intel following July 23 — two events that could ripple into crypto markets through Bitcoin exposure and mining supply chains. "Tesla remains one of the largest corporate holders of Bitcoin, and any commentary from Elon Musk about digital assets or capital allocation tends to move crypto markets faster than most on-chain catalysts," said Nina Volkov, Bitcoin macro analyst at Edgen. Tesla already pre-released production and delivery figures on July 2, showing over 450,000 vehicles produced and more than 480,000 delivered in Q2. The company deployed 13.5 GWh of energy storage during the period. Analysts expect Tesla to report Q2 revenue of about $26.54 billion, up 18% year-over-year, with adjusted earnings of $0.55 per share, according to Visible Alpha consensus estimates. Intel reports Q2 results on July 23 at 2 p.m. PDT. Revenue in Q1 hit $13.6 billion, up 7.4% year-over-year. Options pricing implies Tesla shares could swing about 7% in either direction following the report, according to Investopedia. For Bitcoin, the read-through is indirect but material: Tesla's balance sheet commentary and Musk's remarks on robotaxi timelines, AI infrastructure, and capital allocation have historically moved crypto markets, with BTC often correlating to risk sentiment shifts around the company's earnings calls. **Tesla's Bitcoin exposure remains a wild card** Tesla held Bitcoin on its corporate balance sheet as of its last disclosure, making it one of the largest publicly traded corporate holders of the asset. Any mention of a change in treasury strategy during the earnings call — whether adding to the position, selling, or holding — could trigger price action in BTC/USD. The shareholder Q&A portal on Say Technologies shows growing frustration with Tesla's missed targets on robotaxi deployment and Full Self-Driving milestones, adding uncertainty to the call narrative. **Intel's results matter for mining costs** Intel sits at the center of the semiconductor supply chain that underpins mining hardware and AI compute. Semiconductor lead times and pricing forecasts from Intel's call will affect hardware procurement costs for Bitcoin mining operations throughout 2026 and into 2027, particularly as the industry navigates the post-halving margin environment. Intel has been investing in its foundry business to compete with TSMC, and any updates on capacity expansion or pricing trends could signal the direction of ASIC production costs. **Broader macro context** The earnings reports land in a week bookended by two other structural events: the July 18 deadline for six federal agencies to finalize implementing rules for the GENIUS Act's stablecoin framework, and the Federal Reserve's July 28-29 FOMC meeting where the federal funds rate is expected to hold at 3.50% to 3.75% for a fifth consecutive meeting. Together, these events create a concentrated window of macro and regulatory catalysts for crypto markets. This article is for informational purposes only and does not constitute investment advice.
Jul 17 2026, 17:13
Apple, DOJ hold early settlement talks in 2024 antitrust lawsuit
Apple Inc. and the US Justice Department are in early discussions to settle a 2024 antitrust lawsuit, with the iPhone maker having submitted multiple settlement proposals this year, people familiar with the matter said. "The discussions are active, though there is no guarantee the two sides will reach an agreement," said one of the people, who asked not to be identified discussing private negotiations. No trial date has been set in the case, which alleges Apple violated antitrust laws by restricting competition through its iPhone ecosystem. The DOJ's lawsuit targets Apple's control over app distribution and its commission on in-app purchases, practices that generate billions of dollars in annual services revenue. A settlement could remove a major regulatory overhang on Apple's stock by preserving its App Store revenue model, while a failure to reach terms would leave the company facing a protracted legal battle that could force structural changes to its most profitable business lines. **The Broader Crackdown** The Apple case is part of a broader antitrust push by the DOJ targeting the largest technology companies. The department has also pursued cases against Alphabet Inc.'s Google over search monopoly allegations and Meta Platforms Inc. over social media market power. A federal judge ruled against Google in August 2024, a decision the company is appealing. **What's at Stake for Apple** Services revenue, which includes App Store commissions, has become Apple's primary growth driver as iPhone sales mature. A settlement that preserves the current commission structure would protect a key profit center, while a trial loss could force Apple to allow alternative app stores and payment systems on its devices. The DOJ's case goes further than the Epic Games litigation, alleging that Apple's anticompetitive conduct spans smartphones, smartwatches, and digital advertising. A loss at trial could expose Apple to remedies including forced interoperability with competing devices. This article is for informational purposes only and does not constitute investment advice.