Tesla already had massive issues. Then Musk went to battle with Trump

President Donald Trump holds a news conference with Elon Musk to mark the end of the Tesla CEO’s tenure as a special government employee overseeing the U.S. DOGE Service on Friday May 30, 2025 in the Oval Office of the White House in Washington.

Tom Brenner | The Washington Post | Getty Images

Tesla has been facing massive challenges trying to get back on track after a disastrous first quarter. Those headwinds strengthened considerably this week.

CEO Elon Musk officially concluded his term with the Trump administration at the end of May, hitting the 130-day mark, the maximum time allowed for a “special government employee.” On his way out the door, Musk expressed sharp criticism of the Trump’s signature spending bill that’s being debated in Congress due to its expected impact on the national debt.

What started off as a policy disagreement quickly escalated into an all-out online brawl, with Musk and President Donald Trump hurling insults at one other from their respective social media platforms. After Musk called the “one, big beautiful bill” an “abomination” and rallied his followers on X to “kill the bill,” Trump said Musk had gone “CRAZY” and threatened to end government contracts and cut off subsidies for Musk’s companies. Musk responded, “Go ahead, make my day.”

The rift sent Tesla shares plummeting 14% on Thursday, wiping out roughly $152 billion in value, the most for any day in the company’s 15 year-history on the public market. While Musk is still the richest person in the world on paper, his net worth plunged by $34 billion, according to Bloomberg’s Billionaires Index.

More importantly, the spat brought about the collapse to a relationship that blended business, politics and power in a manner virtually unprecedented in U.S. history. The ramifications to Tesla, which fell out of the trillion-dollar club on Thursday, could be severe, and not just because Trump is reportedly considering selling or giving away the red Model S he purchased in March after turning the White House lawn into a Tesla showroom.

A senior White House official told NBC News on Friday that the president was “not interested” in having a call with Musk to resolve their feud.

Ire from the Trump administration could influence everything from future regulation, investigations and government support for Tesla, to decisions on tariff exemptions the company has been seeking in order to purchase Chinese-made manufacturing equipment.

Tesla shares were badly underperforming the broader market before the Musk-Trump breakup. Revenue slid 9% in the first quarter from a year earlier, with auto revenue plummeting 20%, due to the combination of increased competition from lower-cost EV makers in China and a consumer backlash to Trump’s political activities and rhetoric.

It’s certainly not what Tesla shareholders were expecting, when they sent the stock up about 30% in the days following Trump’s election victory in November. After spending close to $300 million to return Trump to the White House, Musk was poised to have a major role in the administration and be in position to push through regulatory changes in ways that benefited his companies.

Instead, his company has suffered, and Musk’s behavior is largely to blame.

One of his most divisive actions in leading the Trump administration’s Department of Government Efficiency (DOGE) was the dismantling of USAID, which previously delivered billions of dollars of food and medicine to more than 100 countries.

Beyond the U.S., Musk has endorsed Germany’s far-right extremist party AfD, and gave a gesture that many viewed as a Nazi salute at an inauguration rally.

In response, in recent months, there were numerous cases of vandalism or arson of Tesla facilities or vehicles in the U.S., as well as waves of peaceful protests at Tesla stores and service centers in North America and Europe.

Advertisements in protest of Musk have appeared in New York’s Times Square, and at bus shelters in London, urging people to boycott Tesla, some labeling the company’s EVs as “swasticars.” The Vancouver International Auto Show even removed Tesla from its exhibitors’ list fearing the company’s presence would cause safety problems.

On top all that are President Trump’s sweeping tariffs, which have led to concerns that costs will increase for parts and materials crucial for EV production. In its first-quarter earnings report in April, Tesla refrained from promising growth this year and said it will “revisit our 2025 guidance in our Q2 update.”

Board is mum

Pension funds that invest in Tesla have said the “crisis” at the company requires a leader to work a minimum of 40 hours per week to focus on solving its problems.

Public officials are echoing that sentiment, and calling on Tesla’s board to take action.

New York City Comptroller Brad Lander said on Thursday in s statement to CNBC that the “schoolyard fight” between Trump and Musk highlights how “Tesla’s weak accountability measures and poor governance threaten not only the company’s financial stability and shareholder value, but also the future of homegrown EV production.”

Brooke Lierman, comptroller of Maryland, told CNBC in an email that the company’s board “is not doing its job to ensure that there is a CEO at Tesla who is putting the company’s interests first.”

Since Musk’s name is synonymous with Tesla, the board needs to ensure that Tesla can stand on its own regardless of who’s leading the company, she added.

“Musk’s behavior continues to threaten the future of Tesla,” Lierman said. “As long as Tesla is identified with Elon Musk and he continues to be a polarizing figure, he will continue to damage the brand which is a huge part of Tesla’s value.”

Musk didn’t respond to a request for comment. CNBC also reached out for comment to board chair Robyn Denholm and directors and executives who work in government relations and in the office of the CEO. None of them responded as of the time of publication.

Elon Musk interviews on CNBC from the Tesla Headquarters in Texas.

CNBC

Tesla investors focused on business fundamentals are justified in their skepticism.

The company has failed to roll out innovative and affordable new model EVs, while Chinese competitors like BYD have flooded the market, particularly in Europe.

Analysts at Goldman Sachs on Thursday lowered their price target on Tesla mostly due to the outlook for 2025. Deliveries this quarter are tracking lower for the U.S., the analysts noted, while European sales saw a 50% year-over-year decline in April and another double-digit drop in May. China sales from those two months were down about 20% from a year earlier.

Quality is also a problem. Tesla has announced eight voluntary recalls of the Cybertruck in 15 months due to a range of issues including software bugs and sticking accelerator pedals.

Robotaxi ready?

Musk is urging investors to largely ignore the core business and look to the future, which he says is all about autonomous vehicles and humanoid robots.

But even there, Tesla is behind. In AVs the company has ceded ground to Alphabet’s Waymo, which is operating commercial robotaxi services in several U.S. markets. After a decade of missed deadlines, Musk has promised a small launch of a Tesla driverless ride-hailing service in Austin this month.

The Austin robotaxi service will operate in a geofenced area, Musk said in a recent interview with CNBC’s David Faber, and will begin with a small fleet of just 10 to 20 Model Y vehicles with Full Self-Driving (FSD) Unsupervised technology installed. If all goes well, Musk has said, Tesla will try to rapidly expand its driverless offerings to other markets like San Francisco and Los Angeles.

Watch part 1 of CNBC's interview with Tesla CEO Elon Musk

What consumers won’t be seeing anytime soon are the Cybercab and Robovan vehicles that Tesla touted at its “We, Robot” event last year to drum up customer and investor enthusiasm.

On Friday, Milan Kovac, Tesla’s vice president of Optimus robotics, announced he was leaving after joining the company in 2016. Musk thanked him for his “outstanding contribution” in a post on X.

Still, there are plenty Tesla bulls and Musk fanboys who are believers in the CEO’s vision. The stock’s 4% rebound on Friday is a sign that some saw an opportunity to buy the dip.

“I think the real story here is the investor base of Tesla literally doesn’t care about anything,” Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor, told CNBC’s “Halftime Report” Friday. “This is still a nothing matters stock.”

FundStrat’s Tom Lee said the Tesla selloff was “overdone.”

Tesla’s market cap, which is dramatically inflated relative to every other U.S. car maker, is built on Musk’s vision of Tesla’s Optimus humanoid robots doing factory work and babysitting our children, while self-driving Cybercabs and Robovans make money carting around passengers.

Morgan Stanley’s Adam Jonas wrote in a note this week that, “Tesla still holds so many valuable cards that are largely apolitical,” pointing to what he sees as the company’s “AI leadership, autonomy/robotics, manufacturing, supply chain re-architecture, renewable power, [and] critical infrastructure.”

In terms of Tesla’s existing business, the most immediate impact from what’s happening in Washington D.C., is the rollback of EV credits in the current budget bill that Musk loudly opposes and that’s struggling to find sufficient support in the Senate. There’s also the matter of the tariffs and whether Tesla is able to get preferred treatment, a proposition that seems increasingly unlikely with the Musk-Trump fallout.

Matthew LaBrot, a former Tesla staff program manager, told CNBC that he’s not surprised that Musk blew up his relationship with the president. LaBrot was terminated earlier this year after sending an open letter in protest of Musk’s divisive political activity.

“I am devastated for the country and the climate, though Elon only has himself to blame,” LaBrot said in an interview. “Back a loose canon, expect stray canon fire.”

Tesla investors can’t know at the moment how much of Musk’s energy and time will now return to his lone public company, and the business responsible for the vast majority of his wealth. Even without politics, he still has SpaceX, AI startup xAI and brain tech startup Neuralink, among other businesses.

As of Thursday, Musk still had a West Wing office that hadn’t been cleaned out, two administration officials told NBC News. The space will likely be packed up in the coming days, one of the officials said.

And while his time in the Trump camp may be over, Musk has called on his followers to form a new party in the U.S.

“Is it time to create a new political party in America that actually represents the 80% in the middle?” he wrote on X on Thursday, in a post that’s now pinned at the top of his page. According to the post, 80% of 5.6 million respondents to the unofficial poll said “yes.”

Musk’s actions this week may have caused a permanent rift with the president. But one thing is clear — his company can’t get away from the White House.

WATCH: Impact of Musk’s feud with Trump

'Closing Bell Overtime' Tesla panel talks impact of Elon Musk's feud with Pres. Trump

AstraZeneca, Pfizer, Gilead launch most cancers drug information

Attendees walk through the lobby at the American Society of Clinical Oncology annual meeting in Chicago.

Tim Boyle | Bloomberg | Getty Images

A version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.

I’m back in New York City after spending the last weekend in Chicago for the American Society of Clinical Oncology annual meeting.

More than 5,000 research abstracts were presented or published at ASCO by pharmaceutical giants, biotech companies, researchers and oncologists. They included studies on existing drugs, experimental treatments, AI tools and ideas for improving patient care. 

Here are some data highlights and executive commentary from the larger companies I follow: 

AstraZeneca wins big (again) – The blockbuster drug Enhertu from AstraZeneca and Japanese drugmaker Daiichi Sankyo stalled the growth of a common type of breast cancer by more than a year in a large late-stage trial when used as an initial treatment. The results could expand the use of the drug and change the way the disease is treated for the first time in a decade. 

The study evaluated Enhertu in combination with a standard medicine called pertuzumab as a frontline treatment, meaning it was used in patients newly diagnosed with what’s known as HER2-positive metastatic breast cancer. Patients who got the Enhertu combination lived for almost 41 months before their disease spread, while a group who received a standard three-drug treatment lived for about 27 months before the cancer advanced.

David Fredrickson, executive vice president of AstraZeneca’s oncology business, told CNBC that one in three patients who start treatment for this type of cancer are not able to receive a second type of therapy because their health worsened or they died.

But the results show that the Enhertu combination could give “another third of patients a chance to potentially have a longer progression-free survival time and to benefit from a more effective frontline therapy than if you wait till a second one.”

Pfizer impresses in colorectal cancer – The company’s pill Braftovi, combined with two other cancer treatments, doubled survival time for patients with an aggressive form of colorectal cancer compared to a standard treatment in a late-stage trial. It’s good news for Pfizer, which has submitted the data to the Food and Drug Administration to expand Braftovi’s approval label. 

The three-treatment combination included a standard chemotherapy, an antibody drug called cetuximab and Braftovi, which targets a cancer mutation called BRAF V600E. That combination also cut deaths by 51% and slashed the risk that the cancer would progress by 47% compared to a standard treatment during the trial. 

Pfizer’s Chief Scientific Officer Chris Boshoff told CNBC that 10% to 15% of colorectal cancer patients have that specific mutation, and noted their survival rates are “particularly poor.”

“We’re very proud of [the data] because for the first time, it really shows a true impact on survival for a disease that’s very challenging to treat,” he said. 

Gilead and Merck combo’s breast cancer win — The popular drug Trodelvy from Gilead in combination with Merck’s blockbuster immunotherapy Keytruda lowered the risk of an aggressive type of breast cancer worsening by 35% when used as an initial treatment in a late-stage trial. Gilead could benefit from higher sales of Trodelvy as it competes with Enhertu. 

The study examined patients with advanced triple-negative breast cancer whose tumors express PD-L1, the protein targeted by drugs like Keytruda. Around 15% of breast cancer cases are triple negative, making them more aggressive and difficult to treat, according to Gilead. 

The findings suggest that the combination of Trodelvy and Keytruda “will likely become a new front-line standard of care in this setting,” Dr. Jane Lowe Meisel, co-director of breast oncology at Emory University School of Medicine and a designated ASCO expert, said in a statement.

A Merck, Daiichi Sankyo drug disappoints in lung cancer  – Merck and Daiichi Sankyo on Thursday said they have withdrawn their U.S. application for an experimental treatment after it failed to prolong the lives of lung cancer patients in a late-stage trial. 

The drug, patritumab deruxtecan, is one of three so-called antibody drug conjugates that Merck has been working on with Daiichi Sankyo as it races to offset Keytruda’s upcoming loss of exclusivity. 

The medication failed the trial’s secondary goal of extending overall survival, which is defined as the length of time patients lived from the start of treatment. Those results, along with subsequent discussions with the FDA, led the companies to withdraw the application. 

But last year, the drug met the study’s main goal of helping delay tumor progression compared to chemotherapy in patients who have been previously treated for non-small cell lung cancer with a mutation in a gene called EGFR. 

Marjorie Green, Merck’s head of oncology global clinical development, told CNBC that the “totality of the data couldn’t support” the drug’s application for approval. She called it a disappointment but noted that the company is learning from “what worked and what didn’t work” and is still “fully investing” in refining the drug. 

Merck and Daiichi Sankyo plan on advancing the treatment into a late-stage development for breast cancer. 

Amgen‘s positive lung cancer data: The company’s drug, Imdelltra, reduced the risk of death by 40% compared to chemotherapy for small cell lung cancer patients whose disease had worsened after an initial round of chemotherapy, according to data from a late-stage trial. 

Imdelltra also extended median overall survival by more than five months compared to the standard-of-care chemotherapy. 

Amgen said the trial results are intended to support last year’s accelerated approval of Imdelltra by the FDA. 

BONUS: Bristol Myers Squibb inks deal with BioNTech – Bristol Myers Squibb on Monday said it has agreed to pay up to $11.1 billion to partner with BioNTech and develop its next-generation cancer immunotherapy. 

The drug could take on Keytruda and new treatments in development by Summit Therapeutics and Pfizer. BioNTech is running late-stage studies on the drug in lung cancer and plans to start a phase three trial in triple-negative breast cancer this year.

Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.

More in health-care: A big win for breast cancer screening AI platform

The FDA this week approved the first-ever AI platform for breast cancer prediction from Boston-based Clairity, marking a big milestone for women’s health tech and potentially for women’s health screening.

I profiled Clairity’s founder Dr. Connie Lehman three years ago, as part of a story on investment in Femtech. At the time, she told CNBC the accuracy of technology can help reduce over-screening for women who are presumed to be at risk, while helping to identify women who might otherwise not be monitored until they’ve already developed cancer.

“By delivering validated, equitable risk assessments, we can help expand access to life-saving early detection and prevention for women everywhere,” she said in the company’s announcement of the approval.

But to save lives, the next big step is to ensure women have access to the breakthrough technology as a preventive screening. The American Medical Association will first need to issue a billing code, which for some AI-driven tools has been slow to come. That code will be crucial to securing insurance coverage.

Feel free to send any tips, suggestions, story ideas and data to Bertha at bertha.coombs@nbcuni.com.

Latest in health-care tech: Amazon Pharmacy announces new features for caregivers and Medicare Part D patients

Close-up of a hand holding a cellphone displaying the Amazon Pharmacy system, Lafayette, California, September 15, 2021. 

Smith Collection | Gado | Getty Images

Amazon Pharmacy on Tuesday announced new updates for caregivers and more than 50 million Medicare Part D beneficiaries. 

Launched in 2020, Amazon Pharmacy was formed out of the company’s 2018 acquisition of the online pharmacy PillPack. The offering is now a full-service, digital pharmacy that can help support patients with both one-off and recurring prescriptions. Prime members in cities like Los Angeles and New York City are eligible for same-day medication deliveries. 

Amazon said that customers with Medicare insurance can now directly access PillPack’s services, which means those with two or more prescriptions can have their medications sorted into individual tear-away packets labeled with the date and time. 

The company said these monthly shipments will reduce the need for patients to keep track of multiple pill bottles and help them stick to their routines, according to a release. Patients interested in accessing pre-sorted medications through PillPack can sign up by logging into Amazon Pharmacy.

Amazon Pharmacy also introduced a new way for verified caregivers to help manage medications on behalf of their loved ones. Around one in every five adults in the U.S. are caring for an aging family member, according to AARP.

Patients can invite trusted caregivers to help oversee their medications by submitting their phone number. The caregiver will receive a text with a link, have to confirm details about the patient in question, and then can begin managing the patient’s medications through their own account. 

“These updates deliver what our customers have been asking for—simpler medication management for themselves and their loved ones,” John Love, vice president of Amazon Pharmacy, said in a statement on Tuesday.

Amazon’s online pharmacy is a part of the company’s multi-year effort to push into the health-care industry. The company acquired primary care provider One Medical for roughly $3.9 billion in July 2022. 

Read the full announcement here. 

Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.

Elon Musk tenure at DOGE topic of Sen. Warren report

Tesla CEO Elon Musk listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC.

Kevin Dietsch | Getty Images

Sen. Elizabeth Warren’s office issued a report Tuesday chronicling Elon Musk’s “130 days” in President Donald Trump’s administration, accusing the billionaire of using his government perch to enrich himself and his businesses.

“Musk and individuals acting on his behalf have been involved in dozens of questionable actions that raise questions about corruption, ethics and conflicts of interest,” says the report by the Massachusetts Democrat’s office.

The 14-page report outlines more than 100 times that Warren’s team believes Musk abused his role as a “special government employee” overseeing DOGE to benefit his private interests.

It accuses Musk of violating “norms at an astonishing pace,” actions that it calls “scandalous behavior regardless of whether it subjects him to criminal prosecution.”

The White House did not respond to CNBC’s request for comment on the report. CNBC also reached out for comment to Musk, his attorney Alex Spiro and Omead Afshar, a Tesla vice president. They did not immediately respond to requests for comment.

Musk last week wrapped up his official government service leading the Department of Government Efficiency,” which is engaged in a broad effort to slash federal government spending.

His four months leading DOGE as a special government employee were marked by unprecedented upheaval to the federal workforce and government agencies.

Read more CNBC politics coverage

Warren’s team accuses Musk of using the federal government to promote his businesses. Musk, who is the world’s richest person, is CEO of Tesla, SpaceX and artificial intelligence startup xAI.

For instance, it highlights the time the White House lawn was turned into a temporary Tesla showroom.

It also outlines more than two dozen instances where the Trump administration or government agencies “have entered or explored new lucrative contracts” with Musk’s companies, such as Customs and Border Protection exploring using Starlink technology in surveillance towers.

The report also outlines six times that the Trump administration or federal agencies halted enforcement actions against any of Musk’s companies, or the times that DOGE targeted government agencies investigating the companies.

For instance, it says that the Occupational Safety and Health Administration closed an investigation into Tesla for “allegedly violating workplace safety rules.”

“Musk’s companies have received or are being considered for large contracts with the federal government, with foreign governments, and with other private sector companies,” the report says.

The report is not the first time that Musk has come under fire for alleged conflicts of interest during his DOGE tenure.

Three Democratic senators, including Warren, sent a letter last week urging the Justice Department and other authorities to probe whether DOGE employees broke conflict-of-interest laws by owning stocks in companies that may have benefited from their government-cutting work.

CNBC’s Lora Kolodny contributed reporting.

Chris Pratt Honors Parks and Rec Costar Jonathan Joss

Chris Pratt is mourning the loss of a fellow Pawnee resident.

Following the news that his Parks and Recreation costar Jonathan Joss was killed in a shooting June 1, the Guardians of the Galaxy star shared his disbelief and sadness over Jonathan’s sudden passing.

“Damn. RIP Jonathan. Always such a kind dude,” Chris, 45, wrote on his Instagram Story June 2 alongside an article announcing his death. “He played Ken Hotate in Parks and was also in Mag 7. Sad to see. Prayers up. Hug your loved ones.”

Jonathan had a recurring role on the series as the head of the Native American Wamapoke Tribe Chief Ken Hotate alongside Chris, Amy Poehler, Rashida Jones, Adam Scott, and Aubrey Plaza.

In addition to Chris’ tribute, Nick Offerman, who starred as Ron Swanson on the series, shared that several members of the Parks and Rec cast were in contact with each other following the news of the King of the Hill actor’s death.

A 25-year-old is utilizing a Japanese idea to develop a matcha enterprise

Angel Zheng at Isshiki Matcha in New York, NY on May 21, 2025.

Lisa Kailai Han | CNBC

Angel Zheng is relying on the Japanese principle of “ikigai” to turn her passion for matcha — a powdered green tea with a unique taste and purported health benefits — into building what she hopes will be an iconic household brand of the future.

At just 25 years old, Zheng has already owned at least five businesses — six, if you count her past as a social media influencer. Her latest endeavor may serve as the highest expression yet of her ikigai — which no less an authority than the Japanese government defines as “a passion that gives value and joy to life.”

Zheng started her first two businesses — an e-commerce women’s wear brand and recording studio — while she was still earning her undergraduate degree in business from Baruch College in New York. The clothing brand was an offshoot of her love of fashion, while the recording studio sprang up when she realized her co-founder, a music producer, was only using his space once or twice a week.

In the years that followed, Zheng shuttered her first ventures, using the profits to open omakase sushi bars Moko and Shiso. The two fine dining spots garnered Zheng and her co-founder a spot on the Forbes 30 Under 30 list for the food and drink industry last year.

But despite already making waves on New York’s foodie scene, Zheng is far from finished. Her latest solo endeavor is Isshiki Matcha, a matcha-dedicated café located smack in the middle of Manhattan’s trendy East Village neighborhood.

Isshiki Matcha is unassuming from the outside — sharing the same space as Zheng’s only other operating business, Moko, there’s no sign anywhere on the storefront indicating its presence. But, if things go as Zheng plans, the café could one day be ground zero of a sprawling matcha enterprise.

“When you think about coffee right now, you have those names like Lavazza, Illy, La Colombe. But when you close your eyes and think about matcha, it’s such a new market that there aren’t heritage brands yet. And that’s what I want to be,” Zheng told CNBC in an interview.

Isshiki Matcha in New York, NY on May 21, 2025.

Lisa Han | CNBC

Popular among young adults

More than an attempt to hop on the matcha bandwagon, Isshiki emerged from Zheng’s own love for the drink.

Matcha, a powder made from ground green tea leaves, originated in China but was refined into its current form in Japan. Its popularity has soared in recent years, especially among millennials and younger generations. Japan’s matcha production in 2023 amounted to 4,176 tons—nearly three times more than the 1,471 tons made in 2010, the Japan Times reported, citing data from the Ministry of Agriculture. The same article quoted Kametani Tea saying it had increased its production by about 10% each year since 2019 just to keep up with demand.

On Instagram, 8.8 million posts are tied to the hashtag #matcha; on TikTok, 2 million. Celebrities from Dua Lipa to Gwyneth Paltrow to Jesssica Alba have publicly approved the drink, turning it into a cornerstone of the health and wellness movement.

Matcha’s popularity has swelled to the point where demand now outstrips supply, leading to a matcha shortage. Last fall, two well-known Kyoto tea companies, Ippodo and Marukyu Koyamaen, set strict purchase limits.

These supply chain issues, combined with recent tariffs that threaten higher prices on imports, have caused Zheng many a headache in the past few weeks. Nevertheless, she remains steadfast in her mission to one day make Isshiki Matcha into a household name.

Zen and purpose

Zheng, a first-generation Chinese immigrant, grew up on matcha, and credits the tea with helping bring her zen in an otherwise chaotic, entrepreneurial schedule.

“Life demands so much from you — school, work, family, relationships, friendships. It’s important to have pillars,” she explained. “‘Isshiki’ means one pillar. You should have pillars in your day that ground you — like going to the gym, doing your skincare routine at night, making sure you have your time in the morning to make a matcha, or you come here and we make your morning matcha every day for you.”

Isshiki Matcha in New York, NY on May 21, 2025.

Lisa Han | CNBC

This latest business, Zheng explained, feels different from her previous ventures — mainly because she believes that she has finally found her calling. And in pursuing something she’s truly passionate about, Zheng has noticed pieces falling into place.

“When you pour your love and heart into something, it’s a very big difference, especially when it’s something you consume like food,” she said. “I have my purpose. There’s this Japanese philosophy that I take to heart and live by every day, and it’s called ‘ikigai.’ It means to find the thing that you’re best at, that will help the most people and bring you the most joy, bring the world the most joy, and everything else will follow — the money, the success. If you chase money and success first, you’re never going to have a fulfilling life.”

Zheng first came up with the idea to open a matcha café on New Year’s Day 2024, when thinking through her resolutions for the year. During a trip to Japan soon after, she serendipitously happened to be seated at dinner next to the head of communications at a matcha farm.

Since debuting early last year, Zheng has expanded Isshiki Matcha’s presence through careful event curation and digital branding. A brand’s online footprint can make it or break it, she told CNBC, which is why she still keeps up with influencing from time to time.

“It helps a lot with the business,” Zheng added. “I feel like — with social media and the landscape that we live in now — having a digital presence and digital currency is just as valuable as having a real-life presence.”

Isshiki serves between 100 to 300 customers daily between 8 a.m. and 3 p.m. Moko officially takes over the space beginning at 5 p.m., serving fresh sushi to sometimes as many as 150 customers.

A digital and physical presence work in tandem, since Zheng publicizes the numerous events she hosts at Isshiki through her social media. Increasing the visibility of the local Asian community is also important to Zheng, many of whose events are free and open to the public. Many of the brands she’s collaborated with have been Asian-owned or focused.

Events she’s hosted recently fit into the category, including a Lunar New Year party and a Valentine’s Day popup with Asian dating app Yuzu. Other events have ranged from special morning matcha classes to a rave with a local DJ to capsule clothing collection launches to tea tasting classes. Zheng’s influence in the New York community — online and in-person — has led Isshiki to host or cater events for brands including Uniqlo, Mastercard, Puma and Goop.

A Isshiki Matcha guided matcha tasting with press and influencers, to highlight Uniqlo’s new sports utility wear collection in New York, NY on May 28.

Courtesy: Isshiki Matcha

Struggling with FOMO

Zheng credits her success to preparation, hard work and luck — which sometimes comes in the form of meeting the right person at the right time.

Earlier this year, Zheng’s next foray materialized after the owner of a bottled lemonade business, The Lucky Ox, another Asian beverage brand, walked into her café to pitch some of his products for her dinner menu. Zheng expressed interest in entering the ready-to-drink space, and the two soon collaborated on a new, bottled matcha lemonade.

While Zheng already sells matcha powders wholesale, the motivation behind the ready-to-drink version was to create a convenient and easily accessible product. The matcha lemonade, which just launched a month ago, is already available in 120 stores, Zheng said, and is aimed at linking Isshiki as closely to matcha as La Colombe is to coffee.

Isshiki Matcha in New York, NY on May 21, 2025.

Lisa Han | CNBC

When part of being a successful business owner is who you know, Zheng said it’s not necessarily a bad thing to suffer from the fear of missing out, or FOMO. In the past, she’s found brand partnerships through other attendees at various events. In fact, she got her first internship after encountering the founder of a magazine company by chance. The two stopped to chat after realizing they were wearing the same perfume.

“Literally, your network is your net worth. It gives me crippling anxiety to miss anything,” Zheng laughed.

It also pays to jump at unique opportunities when they arise. Last fall, Isshiki Matcha went viral after Zheng managed to import a shipment of the famous Olympic Village chocolate muffins to the U.S. Perseverance is also important, as when the Omicron variant of Covid-19 raged through New York City just one month after Moko’s official opening.

Now Zheng is at the point in her career where she can advise entrepreneurs first starting out, telling them to embody confidence and boldness. That’s been especially important as a female entrepreneur: believing in her abilities, not selling herself short and advocating for any opportunities she’s in the market for, Zheng said. Sometimes, Zheng has found it helpful when meeting potential business partners to not reveal her age upfront.

“The best part of being Asian is that I can look the same age from like, 16 to 50,” she joked. “So you don’t know how old I am, and I’ve always carried myself this way.”

High Wall Avenue analysts choose these dividend shares for constant returns

The Home Depot logo is displayed outside a store on March 10, 2025 in San Diego, California.

Kevin Carter | Getty Images

Earnings of major U.S. companies and the uncertainty around tariffs continued to impact investor sentiment this week. While the stock market remains volatile, investors seeking consistent returns could add some attractive dividend stocks to their portfolios.

In this regard, stock picks of top Wall Street analysts can be helpful, as the recommendations of these experts are based on in-depth analysis of a company’s financials and ability to pay dividends.

Here are three dividend-paying stocks, highlighted by Wall Street’s top pros, as tracked by TipRanks, a platform that ranks analysts based on their past performance.

Home Depot

This week’s first dividend pick is Home Depot (HD). The home improvement retailer reported mixed results for the first quarter of fiscal 2025 but reaffirmed its full-year guidance. The company expressed its intention to maintain its prices and not increase them in response to tariffs.

Home Depot declared a dividend of $2.30 per share for the first quarter of 2025, payable on June 18, 2025. At an annualized dividend of $9.20 per share, HD stock offers a dividend yield of 2.5%.

Following the Q1 FY25 results, Evercore analyst Greg Melich reiterated a buy rating on HD stock with a price target of $400. The analyst thinks that the risk/reward profile of Home Depot stock is one of the best in Evercore’s coverage. 

Melich contends that while Home Depot’s headline results appear ordinary, he believes that a notable inflection has begun. The analyst highlighted certain positives in Home Depot’s Q1 performance, including stabilizing traffic, improving shrink (inventory lost due to theft or other reasons) rates, and acceleration in online sales growth to 8% after staying lower than 5% since Q3 FY22.   

“HD remains a benchmark retailer, investing in technology, multichannel and stores, even while current demand remains low,” concluded Melich. He continues to believe that once the macro environment improves, Home Depot could be the “next great Consumer/Retail breakout multiple stock” like Costco in 2023 and Walmart in 2024.

Melich ranks No. 607 among more than 9,500 analysts tracked by TipRanks. His ratings have been profitable 68% of the time, delivering an average return of 12%. See Home Depot Ownership Structure on TipRanks.

Diamondback Energy

Next on this week’s list is Diamondback Energy (FANG), an independent oil and gas company that is focused on onshore reserves, mainly in the Permian Basin in West Texas. FANG delivered better-than-expected first-quarter results. However, given the ongoing commodity price volatility, Diamondback reduced its full-year activity to maximize free cash flow generation.

Meanwhile, the company returned $864 million to shareholders in Q1 2025 through stock repurchases and a base dividend of $1.00 per share. FANG’s Q1 2025 capital return represented roughly 55% of adjusted free cash flow. Based on the base and variable dividends paid over the past 12 months, FANG stock offers a dividend yield of nearly 3.9%.

In a recent research note, RBC Capital analyst Scott Hanold reaffirmed a buy rating on FANG stock with a price target of $180. Hanold noted that while the company lowered its 2025 capital budget by $400 million or 10% to $3.4 – $3.8 billion, the production outlook was cut by only 1%.

The analyst stated that Diamondback’s move to reduce its capital spending plan increased his free cash flow estimate by 7% over the next 18 months. Hanold thinks that the company’s decision will not weigh on its operational momentum or the ability to efficiently return to its 500 Mb/d productive capacity.

Commenting on FANG’s free cash flow priorities, Hanold noted that the company is tracking ahead of its 50% minimum shareholder return target, thanks to stock buybacks amid the pullback in shares, mainly during early April. He expects the company to use the remaining free cash flow to pay down the $1.5 billion term loan related to its Double Eagle-IV acquisition in the Midland Basin, which was announced in February.

Overall, Hanold’s bullish thesis on FANG stock remains intact, and he believes that “FANG has one of the lowest cost structures in the basin and a corporate cash flow break-even (including dividend) that is among the best in the industry.”

Hanold ranks No. 17 among more than 9,500 analysts tracked by TipRanks. His ratings have been profitable 67% of the time, delivering an average return of 29.1%. See Diamondback Energy Insider Trading Activity on TipRanks.

ConocoPhillips

Another dividend-paying energy stock in this week’s list is ConocoPhillips (COP). The oil and gas exploration and production company reported market-beating earnings for the first quarter of 2025. Given a volatile macro environment, the company reduced its full-year capital and adjusted operating cost guidance but maintained its production outlook.

In Q1 2025, ConocoPhillips distributed $2.5 billion to shareholders, including $1.5 billion in share repurchases and $1.0 billion via ordinary dividends. At a quarterly dividend of $0.78 per share (annualized dividend of $3.12), COP stock offers a yield of about 3.7%.

Following investor meetings with management in Boston, Goldman Sachs analyst Neil Mehta reiterated a buy rating on COP stock with a price target of $119. Mehta highlighted that management sees significant uncertainty in oil prices in the near term due to concerns about economic growth and voluntary production cuts by OPEC+. That said, the company is bullish about long-term gas prices.

Meanwhile, the analyst expects COP’s breakeven to shift lower in the times ahead, with major growth projects on track. Mehta stated that while the benchmark price of West Texas Intermediate crude oil – also known as WTI – breakeven (before dividend) is in the mid $40s in 2025, he sees the breakeven heading towards the low $30s once COP’s LNG spending comes down and production at its Willow project in Alaska comes online in 2029.

Commenting on COP’s shareholder returns, Mehta stated that management acknowledged that their decision not to stick with the $10 billion capital return target led to short-term volatility in COP stock. That said, COP still offers a “compelling” return, which Mehta estimates will be 8%.

Mehta ranks No. 568 among more than 9,500 analysts tracked by TipRanks. His ratings have been successful 59% of the time, delivering an average return of 8.6%. See ConocoPhillips Hedge Fund Trading Activity on TipRanks.

Omada Well being goals to IPO with market cap of as much as $1.1 billion

Omada Health smart devices in use.

Courtesy: Omada Health

Omada Health plans to raise up to $158 million in its up coming IPO, attaining a market cap of about $1.1 billion at the top end of its expected range, according to a filing on Thursday.

The virtual chronic care company filed its prospectus earlier this month, and has just updated the filing with an expected pricing range of $18 to $20 per share. Omada said it plans to sell 7.9 million shares in the offering.

The size of the offering and share price could change, and the market cap could be higher on a fully diluted bases. The IPO is expected to take place next week.

Omada, which offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension, will be the second digital health company to hit the market in a matter of weeks after an extended drought. Digital physical therapy startup Hinge Health debuted on the New York Stock Exchange earlier this month.

Omada, based in San Francisco, describes its approach as a “between-visit care model” that is complementary to the broader health-care ecosystem, according to its prospectus.

Sean Duffy, Omada’s CEO, co-founded the company in 2012 with Andrew DiMichele and Adrian James, who have both moved on to other ventures.

Omada’s revenue increased 57% in its first quarter to $55 million from $35.1 million a year earlier, the filing said. For 2024, revenue rose 38% to $169.8 million from $122.8 million the previous year.

The company’s net loss narrowed to $9.4 million in the first quarter from $19 million a year ago.

“To our prospective shareholders, thank you for learning more about Omada,” Duffy said in the prospectus. I invite you to join our journey.”

The company will trade on the Nasdaq under the ticker symbol “OMDA.”

Morgan Stanley, Goldman Sachs and JPMorgan Chase are leading the offering. Omada’s top shareholders are U.S. Venture Partners, Andreessen Horowitz and Fidelity.

WATCH: Redpoint Ventures’ Scott Raney: The IPO market is cracking open but still a few years away from wave

Elon Musk Was Reportedly Utilizing A Lot Of Medicine Whereas Campaigning For Trump

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It doesn’t seem to be a coincidence that after Elon Musk delivered public criticism of Trump’s tax cuts bill, there is a new mainstream media report on Musk’s drug use.

The New York Times reported:

As Elon Musk became one of Donald J. Trump’s closest allies last year, leading raucous rallies and donating about $275 million to help him win the presidency, he was also using drugs far more intensely than previously known, according to people familiar with his activities.

Mr. Musk’s drug consumption went well beyond occasional use. He told people he was taking so much ketamine, a powerful anesthetic, that it was affecting his bladder, a known effect of chronic use. He took Ecstasy and psychedelic mushrooms. And he traveled with a daily medication box that held about 20 pills, including ones with the markings of the stimulant Adderall, according to a photo of the box and people who have seen it.

It is unclear whether Mr. Musk, 53, was taking drugs when he became a fixture at the White House this year and was handed the power to slash the federal bureaucracy. But he has exhibited erratic behavior, insulting cabinet members, gesturing like a Nazi and garbling his answers in a staged interview.

This is Trump Politics 101. Trump used Musk to first get to the White House, and then do his dirty work by wrecking the federal government, and now that Trump is done with the richest man in the world, he is tossing him under the bus.

The Times article should be viewed as retaliation for Musk’s criticism.

None of this is going to rehabilitate Musk in the eyes of Democrats, as members of the House and Senate Democratic caucuses have no intention of letting Elon Musk off the hook after he has supposedly left the Trump administration.

Nobody really leaves the Trump administration, but it does look like Trump or members of his inner circle have the knives out for Musk.

This is a situation where a circular firing squad would be best for the country. The Trump and Musk sides taking each other out would benefit the majority of Americans.

What do you think of the report of Musk’s drug use? Share your thoughts in the comments below.

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Unique Video Reveals 14-Time Jail Stabbing

Earlier this month, a 42-year-old inmate at the California Correction Institution in Tehachapi allegedly stabbed Tory Lanez 14 times. The news broke the internet with fans showing deep concern for the rapper’s safety, who is serving a 10-year sentence on charges related to Megan Thee Stallion’s July 2020 shooting. In the latest stabbing development, The Shade Room has obtained exclusive video footage of Santino Casio attacking Lanez and photos of the bloody aftermath.

Editor’s Note: The following content contains depictions of graphic violence and injuries and may be triggering.

RELATED: Statement Reveals Tory Lanez’s Condition After He Was Reportedly Stabbed 14 Times In Prison (UPDATE)

Video Shows Santino Casio Stabbing Tory Lanez Near Stairs

In a 39-second video TSR obtained, Tory Lanez is seen leaving a cell, but lingering near its entrance. It’s unclear if any conversation was happening between the rapper, Santino, or anyone else because only general prison sounds can be heard. However, the clip shows Lanez walking towards nearby stairs before a man, now known as Casio, rushes him. The stabbing seems to begin with Tory on his feet, though he quickly falls to the floor. About 21 seconds into the clip, Casio is above Tory, continuing a stabbing motion while the rapper kicks his feet and attempts to get away. Lanez kept screaming, “Oh God” throughout the attack. Eventually, the artist escaped by running down the stairs and out of the camera’s view before the video cuts off. At this time, it appears no one intervened in the attack despite Tory Lanez’s screams.

Editor’s Note: The following content contains depictions of graphic violence and injuries and may be triggering.

EXCLUSIVE: The Shade Room obtains exclusive footage of Tory Lanez’s prison stabbing. #TSRStaffBD pic.twitter.com/RCV7cYdPe3

— TheShadeRoom (@TheShadeRoom) May 28, 2025

Additionally, The Shade Room also obtained still images of the aftermath of Tory Lanez’s stabbing. In one photo, he looks shocked with splashes of blood covering his face. A second photo shows his shirtless upper body and grey pants covered in dripping blood.

To view graphic photos in a separate tab, click HERE. 

According to AP, the prison is about 100 miles (160 kilometers) north of Los Angeles in the mountains of the Mojave Desert and houses about 1,700 medium- and maximum-security inmates.

More Details About Tory Lanez’s Stabbing Aftermath

After the incident, a prison spokesperson revealed that Santino stabbed Tory Lanez at about 7:20 a.m. local time, per the Associated Press. The May 12 attack became public knowledge amid a report from TMZ and a social media statement from the rapper’s team that same day. The post claimed Lanez was punctured 14 times, leading to both of his lungs collapsing. However, the statement also clarified he was breathing independently after receiving aid inside the prison, and follow-up medical treatment at an outside hospital. “…He is talking normally, in good spirits, and deeply thankful to God that he is pulling through,” the team statement said.

 

Who Is Santino Casio?

In the days after the prison stabbing, more details came to light about the attacker, Santino Casio. For example, the 42-year-old was already serving a life sentence for murder before stabbing Tory Lanez. Additionally, Casio has a conviction for another in-prison assault with a deadly weapon. Immediately after the incident with Lanez, prison officials placed Casio in restricted housing pending an investigation.

Santino Casio has been in the facility where the incident occurred since 2004, after he was sentenced to life, with parole possible, for convictions of second-degree murder and first-degree attempted murder. In 2008, he was sentenced to six more years for the assault of a prisoner with a deadly weapon. In 2018, he was sentenced to two more years for possession and manufacture of a deadly weapon by a prisoner.

This June 7, 2022, photo provided by the California Department of Corrections shows inmate Santino Casio. (California Department of Corrections via AP)

Less than a week ago, Santino Casio reportedly told TMZ that he believed Tory Lanez had “put a price on his head.” Casio said he had heard the rumors through the “prison grapevine.”  On the morning of the attack, the 42-year-old claims he saw a “suspicious lump” in Tory’s pocket, which he thought was a weapon. Casio admitted to attacking Tory Lanez first out of alleged self-defense. Casio also reportedly told the outlet that he had a “decent relationship” with the rapper before the stabbing.

Rapper’s Team Is Fighting For His Release, But Megan Thee Stallion Isn’t Here For It

Also worth noting, Megan Thee Stallion aired out Tory Lanez and his legal team in a social media post last week. Her fiery words, including calling the convicted rapper a “demon,” followed Tory’s team citing “new evidence” in the closed shooting case. In a press conference after the stabbing, his legal defense identified bodyguard Bradley James as a new witness. James alleges that he overheard a phone conversation in which Kelsey Harris, his former employer, admitted to shooting at Megan three times before Tory allegedly intervened. Bradley did not speak at the conference.

Meanwhile, U.S. Florida Representative Anna Paulina Luna has joined efforts to free Tory Lanez. Last week, Luna launched a social media campaign asking California Governor Gavin Newsom to pardon the rapper, citing evidence discrepancies and constitutional concerns. A judge previously rejected a motion for a new trial, but his lawyers continue to appeal the conviction, per Luna.

Tory Lanez’s trial included:
– Prosecutorial misconduct
– Exclusion of mitigating factors
– Use of protected speech (rap lyrics, tattoos) as evidence
– Witness contradictions
– Immunity deals with unclear motives
This is not how justice is supposed to work.

— Rep. Anna Paulina Luna (@RepLuna) May 20, 2025

As mentioned, Megan didn’t bite her tongue while verbally dragging Tory Lanez in her TikTok post. She doubled down on naming him the shooter in the 2020 incident. Additionally, she called him out for harassing her post-conviction, despite choosing not to take the witness stand in his case. Her legal team has since released a breakdown of why they believe the “new evidence” from Tory’s defense is nothing to get riled up over.

Hours before The Shade Room obtained video of the prison stabbing, a new episode of TSR Investigates dropped. It features interviews of Megan’s legal defense, Marie Hayrapetian, and Janet Shamlian, once again shutting down “conspiracy theories” about the shooting case. Take a look below:

 

RELATED: Megan Thee Stallion Slams “Demon” Tory Lanez & His Legal Team’s Claim Of New Evidence In Closed Case: “YOU SHOT ME” 

The Shade Room Social Manager, Brianne Deville, first reported this exclusive. Associated Press Entertainment Writer Andrew Dalton also contributed to this report.

What Do You Think Roomies?

Lilo and Sew, Mission Unimaginable break field workplace data

Still from Disney’s newest live-action remake “Lilo & Stitch.”

Disney

Shares of movie theater companies soared on Tuesday following a record-breaking Memorial Day Weekend at the domestic box office.

AMC saw its stock jump more than 23%, while shares of Marcus Theatres’ parent company Marcus Corporation climbed 10% and Cinemark stock leaped nearly 4%.

The tandem releases of Disney’s live-action “Lilo & Stitch” and Paramount’s “Mission Impossible — The Final Reckoning” alongside holdovers Disney and Marvel’s “Thunderbolts*,” Warner Bros.’ “Sinners” and “Final Destination Bloodlines” led to an estimated $326 million haul, the highest Memorial Day box office ever, according to data from Comscore.

It is also more than double the $132 million in ticket sales collected last year during the same period.

“Everything came together at the right time with two eagerly anticipated, positively reviewed tentpoles courting a diverse range of audiences,” said Shawn Robbins, director of analytics at Fandango and founder of Box Office Theory. “This record holiday frame continues a box office winning streak which began in the spring and has now grown into bona fide momentum for what will likely be a $4 billion-plus summer at domestic cinemas thanks to a string of promising blockbusters on the slate.”

AMC, Cinemark and Marcus Theatres each posted their best Memorial Day Weekend ticket revenues of all time, as well as record food and beverage sales for the holiday.

“Finally it would appear that our industry has turned a corner,” Adam Aron, CEO of AMC, said in a statement. “Since early April, weekend after weekend, moviegoers have been demonstrating their preference for theatrical moviegoing. A record-setting Memorial Day holiday is yet another sign of the continued strength and relevance of moviegoing in 2025.”

“Lilo & Stitch” tallied $183 million during the four-day frame, leading the pack, while the eighth installment in the Mission Impossible franchise scooped up $77 million. “Final Destination Bloodlines” took in $23.9 million, “Thunderbolts*” added $11.8 million and “Sinners” snared $11 million, Comscore reported.

The combination of new product and strong carryover from previously released films fueled the weekend, Chad Paris, chief financial officer at Marcus Corp, told CNBC.

“This is the first time this year where I would say we’ve had a fulsome amount of product for the weekend,” he said. “And we’re now getting into the stretch in the calendar where we’ll have a steady cadence of product releases and across genres, a lot of different products for people to go see.”

Over the summer period, which ends Labor Day Weekend, the domestic box office will see the release of Universal’s live-action version of “How to Train Your Dragon,” a new Disney and Pixar feature “Elio,” the hotly anticipated “Jurassic World Rebirth,” Warner Bros.’ “Superman” reboot, and Disney and Marvel’s “The Fantastic Four: First Steps.”

In between these tentpoles are a slew of low-and-mid budget films across genres like horror, drama, comedy and sports.

“Every other studio and every other movie on the horizon over the next few weeks are going to ride a wave and benefit from the performance of the past couple of months,” said Paul Dergarabedian, senior media analyst at Comscore. “We’re going to have one hell of a summer and if Memorial Weekend is any indication, we’re certainly looking at a $4 billion plus summer at potentially $4.2 billion plus and that’s great news after a summer of 2024 that failed to reach that milestone.”

Disclosure: Comcast is the parent company of Fandango, NBCUniversal and CNBC.