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BEVERLY HILLS, CALIFORNIA — At the Milken Institute Global Conference, Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., spoke about the current challenges Tesla is facing. As Musk continues to make ambitious promises about Tesla’s future in autonomous driving and robotics, investors are seeing a steady decline in profit margins. Tesla missed Wall Street estimates for second-quarter earnings, reporting a decline in its adjusted operating margin to 14.4%, the lowest in three years, down from 18.7% a year earlier. That marked the fourth consecutive quarter of decline. The company reported net income of $1.48 billion on revenue of $25.5 billion, including $890 million in regulatory credits. Tesla is getting hit on both sides. Spending is skyrocketing as the company inv...

WASHINGTON D.C. — In a brief social media interview posted by a Fox News reporter, Elon Musk confirmed that he will attend Israeli Prime Minister Benjamin Netanyahu’s upcoming speech to Congress as Netanyahu’s guest. The Israeli embassy has not yet confirmed Musk's presence. Musk’s visit to Capitol Hill follows his announcement on X that Starlink, his satellite internet company, will be operating at a hospital in Gaza, with the support of Israel and the United Arab Emirates. Nine months into the conflict between Israel and Hamas, Netanyahu's speech sparked protests in Washington, leading to around 200 arrests during a sit-in at the Cannon House Office Building. More than 30 members of Congress plan to boycott the speech, citing Netanyahu's handling of the conflict. Vice President Kamala H...

DETROIT — Ford Motor Company fell significantly short of Wall Street expectations for second-quarter earnings, despite beating revenue forecasts, as long-running warranty issues plague the automaker. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings per share: 47 cents adjusted vs. 68 cents adjusted expected Automotive revenue: $44.81 billion vs. $44.02 billion forecast Ford shares are up about 15% this year as prices in the auto sector have remained more resilient than expected. However, as the industry-wide shift to electric vehicles proceeds more slowly than expected, the automaker has adjusted its production plans, focusing less on fully electric vehicles and more on hybrids. Most recently, Ford announced last week that it plans to expand producti...

The narrow alleys of West Bank refugee camps are covered with black tarps to hide Palestinian fighters from Israeli drones. Green Hamas flags and “martyrs” banners adorn buildings damaged by Israeli raids and airstrikes aimed at curbing the growing militancy fueled by the Gaza conflict. This scene, however, does not take place in Gaza or a traditional Hamas stronghold, but in a refugee camp in Tulkarem, a city in the Israeli-occupied West Bank where the moderate Palestinian faction Fatah has long held sway. Recently, I met Muhammad Jaber, a local commander, in one of these dusty, war-torn alleys. At 25, Jaber is one of Israel’s most wanted individuals. He and other fighters say they shifted their allegiance from Fatah to more radical groups like Hamas and Palestinian Islamic Jihad after H...

Wiz has decided to forgo a $23 billion acquisition by Google, a deal that would have marked Google’s largest acquisition to date. Instead, the cloud security startup will pursue an initial public offering (IPO) as originally planned, according to an internal memo from co-founder Assaf Rappaport. “Turning down offers like this is a challenge,” Rappaport noted in his message to employees, obtained by CNBC. He emphasized the company’s focus on reaching its next milestones: an IPO and reaching $1 billion in annual recurring revenue, milestones that had been in sight well before the acquisition talks began. The acquisition would nearly double Wiz’s valuation from its last funding round, which was $12 billion. Founded in 2020, Wiz has grown rapidly under Rappaport, with an IPO target r...

Google parent company Alphabet reported its second-quarter results after the market closed on Tuesday, meeting analysts’ expectations for revenue and profit but falling short on YouTube advertising revenue. Following the announcement, Alphabet shares rose about 1% in after-hours trading. Here's how the company performed against analyst estimates reviewed by LSEG: Earnings: $1.89 per share vs. $1.84 per share expectedRevenue: $84.74 billion vs. $84.19 billion expectedAdditional key figures tracked by Wall Street: YouTube Ad Revenue: $8.66 Billion vs. $8.93 Billion, According to StreetAccountGoogle Cloud Revenue: $10.35 Billion vs. $10.20 Billion, StreetAccountTraffic Acquisition Cost (TAC): $13.39 billion vs. $13.54 billion according to StreetAccountAlphabet’s revenue rose 14% year over ye...