Closing Bell - Closing Bell Overtime: Big Tech Technicals Ahead of Earnings; Does Palantir Rally Have More Legs? 7/25/25

Episode Date: July 25, 2025

The S&P 500 notched a record high every day this week – the first time since November 2021. Our Kristina Partsinevelos breaks down the biggest movers, with Rick Santelli on the bond tape and Malcolm Ethridge of Capital Area Planning Group on the setup. Brent Bracelin of Piper Sandler weighs in on Palantir and his Street high price target. Meme stocks pop back up—Steve Sosnick of Interactive Brokers is on that. Plus, Katie Stockton sets up the charts ahead of Big Tech earnings.

But that bell marks the end of regulation for the week. Manchester United ringing the closing bell at the New York Stock Exchange. Namib Minerals doing the honors at the NASDAQ. And it's another record close for the S&P 500 and the NASDAQ, which is higher for five out of the last six weeks. The S&P closing at records each day this week.

First time it's done that in almost four years. Back to the go-go days of late 2021. Healthcare rebounding. It's the top sector this week posting the biggest weekly gain in nearly two years as investors buy some of those beaten down names and oil services stocks. Big winners, Baker Hughes and Liberty Energy posting their best weeks in roughly two years. That is the scorecard on Wall Street, but winners stay late, especially Fridays. Welcome to Closing Bell Overtime. I'm John Ford. Morgan Brennan is off today. Palantir is the best performer in the S&P 500 over the last year and closing at another

new high. We're going to hear from an analyst who just started coverage and says investors should keep buying this red hot name. Plus, speaking of late 2021, meme stock mania returning this week with a fresh batch of names. Can it last? And what does this risk on attitude mean for the broader market? And later, Coursera soaring today. Up let's see.

More than 36% on strong earnings and guidance. The online learning platform CEO joins me in an exclusive interview. But we begin with Christina Partsenevalos looking at the stocks driving today's record-breaking action. Christina. John, let's start with the somewhat turnaround for Tesla. Shares tumbling, what, 8% earlier this week on slow quarterly sales. But getting a bump today on a Business Insider report that the EV maker's robo taxis will debut in San Francisco this weekend. But we are just hearing that California regulators say Tesla is not allowed to test or transport the public,

paid or unpaid, in an autonomous vehicle with or without a driver. So we'll see what happens. The stock didn't really react too negatively once that came out. Shares are still down 4% in the week. Insurance giant Aon popping to its best days since October thanks to better margins and a stronger cash flow, up about almost 5% in the week. Insurance giant Aon popping to its best days since October thanks to better margins and

a stronger cash flow up about almost 5% on the week. Estee Lauder gaining some love from JP Morgan analyst the firm pushing its price target from 62 to 101. They're optimistic that restructuring and stronger digital execution on platforms like TikTok and Amazon could drive a sales turn around this holiday season. And lastly a rough day for cable news stocks charter communications plunging to its worst day ever after losing 117,000 broadband and 80 or yeah 80,000 video subscribers last quarter that decline is dragging down on peers like Comcast altis dish parent parent Echo star Unfortunately, and I don't like to say this because we work in TV as cord cutting pressures just intensify John for the record the cable part

Though not the news part Christina. Thank you Well, let's get to Rick Santelli now for what's driving Treasury yields lower today Rick You know it's a lot of this is pointing towards Fed meeting and the fact that things going on overseas ECB at the end of his easing cycle all figuring in Let's look at the two-year and ten-year since the last Fed meeting you can't make this stuff up John We're basically unchanged what levels from the 16th and through the 18th of June the last Fed meeting It was at 394 the day of the Fed meeting in a two-year.'re at 392 now a ten year was at 439 where we now 438 and if we look at boon deals two-year boon deals that chart starts on

April 1st and you can see that with the ECB potentially done easing that two-year jumped up Almost to 2% and finally nothing says risk on like a high-yield market. This is the high-yield ETF, HYG. It is hovering right now near the best levels since April of 2022. John, back to you. All right, Rick, thank you. Well, for more on the market now, let's bring in Capital Area Planning Group Managing Partner and CNBC contributor Malcolm Etheridge.

Malcolm, happy Friday. Well, let's step back. The S&P, again, hasn't closed at highs like this every day since November 2021, which is just before the index peaked and took years to recover. Are these highs combined with the meme-ish mood a good sign or a bad one? Well, I think it's probably a good sign

that the meme-ish mood hasn't gotten as out of control as 2021, right? If you just look at the volume and a lot of those names you guys had up on the screen earlier, it's not nearly as close to what we saw in GameStop and AMC and a couple other names that got sprinkled in. For one thing, it is a little bit spread out, the bets that folks are making trying to hit

that home run. But I also don't think that there's enough staying power in this meme mood because what we're seeing in my estimation is investors who have done really well since Liberation Day in tech stocks taking those gains and then looking for another place to park those gains for a little while While the market is at all-time highs like you just said so I think what we're going to see is a return Back to retails favorite names the Nvidia's the Tesla's names like that About a month from now Where those meme stocks will cool off and and we won't be talking about meme mania the same way we did in 21

We even those favorite names are pretty hot. What does a balanced portfolio mean right now in 2025 with the indices where they are? And what's the alternative to selling stocks and going to cash if you're queasy about these highs? Because trying to time the market usually does not end well. Yeah, John, it's almost a curse word right now

talking about a balanced portfolio or diversification. Folks just don't want to hear it because the market is doing so well and right now everything is consistently going up and to the right but I think to your point this is a great time if you were a person who was extremely concerned back in March, April saying things like I don't like the way the market looks and I'm considering getting out I think I might need to sell something I think I need might need to make a move, you're being given an opportunity to exit before things actually start to get choppy. And the trade scenarios aren't all solved, right?

We were talking about 90 trade deals in 90 days or something like that, so the pause that's about to come undone in the next couple of weeks here might return us to a place where investors start to get worried again and you see that trade coming back down. So I think anybody who is riding high right now, feeling great about the gains they're seeing in their portfolio, but just four months ago was extremely concerned about where do we go from here

because the market had fallen almost the perfect 20%. I think this is the gift that allows you a space to be getting out. So correct me if I'm wrong here, but I think if at the end of last year, as an investor, you had taken some off the table of your domestic stock exposure and said, hey, I'm going to buy international stocks instead, you might actually be doing better, and not all of it off the table, but some, you might actually be doing better than the general S&P, even though the S&P has been doing great.

So are international stocks, even international ETFs, still a decent bet at this point, valuation wise, based on what we see happening in trade and other economies? Yes, and I think you could even take the same trend that we're seeing here in the U.S. where for the first couple of years following chat GPT's release American tech companies were dominating with their large language models and what they were able to create and then you saw with deep seek back in January with open source models Companies were able to create a lot more that allowed Developers to do a lot with a little and I think that theme is carrying through parts of the EU, it's carrying through parts

of Latin America even and also some of the Asian countries. So I think being invested internationally in tech specifically is a great place to be because it's unlikely that the US continues its dominance in that space with the AI trade. However, we know that the AI trade has to continue to go because you have companies like Ameda for example, who's investing $80 billion a year, or Microsoft, $80 billion a year. We just heard from Alphabet that they're increasing their capex spend by $10 billion. So that definitely means that this trade is going to continue for some time.

Looking at some emerging Asia type funds, China used to be the not just the tail that wags the dog but maybe the whole dog with those kinds of funds but doing pretty well actually right now. Can investors think of that as perhaps a place to put some money emerging Asia around that whole region to diversify away from high valuation US exposure? I wouldn't consider it an investment like you just said. I wouldn't consider it a place to put money longer term that you're expecting to see, you know, a reasonable amount of volatility.

If this is speculation, then yes, by all means. China's still one of those places that we just never know whether we can trust the data that we're getting. We as American investors are legally not even allowed to invest directly in Chinese companies. And so with all of those dynamics, underpinning ETFs and everything else that give you exposure to China,

it's a great place to place a few trades just to see what happens, but it's not necessarily a great place to be allocating a meaningful amount of the dollars that you're gonna need to rely on in retirement, say for example. Duly warned, Malcolm Etheridge, thank you. Well, let's turn now to utilities,

the sector hitting a record earlier this week, but those stocks aren't trading like your father's slow and steady utilities portfolio, at least not recently. Our Pippa Stephens joins me now with more, Pippa. Hey, John, so utilities are a snoozy area of the market no more. Once viewed as simply a bond proxy, that relationship is now actually breaking down. The correlation between the XLU and long-term treasuries is now at the lowest level in nearly five years, thanks in large part to power demand growth from artificial intelligence.

Within the sector, the independent power producers have led the way. That's names like Constellation, Vistra, Talon and NRG since they have direct exposure to that growing demand. But Mizejo's Anthony Kraudel said the breakdown in correlation could also be investors beginning to view the sector in a new light, specifically as growth stocks. He noted companies are now averaging 7% growth after years in the 3% range. That means that utilities are now providing S&P 500 level growth while trading at a discount to the overall market and also offering a better yield.

All told, the sector is expected to grow earnings by 15.7 percent this quarter that's according to fact set and as results begin to roll in next week key themes to watch include capital spending plans as well as load growth estimates especially after this week's PJM capacity auction showed the mid Atlantic and East Coast is drastically short-powered John. Pippa I want to get this wisdom from you while I can. What are the signs that it really would be different this time with utility stock? Because it seems kind of risky to think, okay, well, they've been slow all this time, but now all of a sudden they're growth stocks. Well, I think what we really have to look at is the fact that load growth is

rising and that is at a meaningful growth now trajectory for the first time in many decades. And there is no really debating that when you just look at the things like AI, of course, reshoring and electrification. But I do think that what's been emerging within the sector is kind of this tale of two cities, if you will, when you look at the IPPs,

those companies that have that direct exposure. A lot of the gains have been driven by those companies, and those are the names that investors really no longer see as your traditional utility stock. If you look a little bit down further, things like the regulated names, the fully integrated ones, as well as the transmission and distribution names, they haven't participated in that same level of rally simply because they don't have that exposure to AI. And so I think for there to be a confirmation of a,

you know, a rebirth as it were of the sector, we need to see some of those laggards catch up as well. But of course they are beholden to their regulator. And so it's a little bit of a different profile from an investment standpoint when you look at the possible returns ahead, given that they are ultimately capped. Don?

Great, deep insight. Until next time, Pippa Stevens, thank you. Well, my next guest says this mystery AI stock was born to be wild, and it is initiating it with a buy rating, even though this stock has doubled already this year. He's gonna explain why investors should be buying on any pullbacks.

Plus, MagG7 stocks Apple, Amazon, Microsoft, Meta. They're the big names to watch on next week's earnings calendar. Coming up, a top technical strategist is going to break down all four charts and how you should be trading ahead of those results over time back in two. Music you you you you Welcome back to Overtime. Shares of managed healthcare providers sent team jumping today despite reporting a surprise quarterly loss that saw membership decline across its Medicaid and Medicare business. It was up 6%.

Revenue did top analyst expectations. Company CEO saying it was disappointed by the results and was quote, working with urgency and focus to restore its earnings trajectory. But shares could be getting a boost because the company did say it expects margins to improve next year. Still, the stock's on pace for its worst month ever,

down nearly 50%, and it is the worst performing stock in S&P this year. Well, from worst to best, Palantir extending its recent strength, hitting a record high today. The stock is the top performer in the S&P 500 this year, climbed all the way to the 20th spot in the index by market cap. The run still has legs, according to our next guest.

Joining me now is Brent Bracelini, his co-head of technology research at Piper Sandler. Has an overweight rating, $170 price target on Palantir, the highest on the street. Brent, that's a bold move coming in on this one after it's been moving this much over this period of time. What gives you the confidence that it can grow into this valuation a la Nvidia? Yeah, I mean, I think what we've learned, let's say over the last couple months that we've been doing more due diligence on the company

is this is more than a meme. This is a real business. When you go to a SAP Sapphire event, see meetings around SAP and Databricks and the role that Palantir has there and standing room only sessions. When you go to Databricks AI Summit, you see standing room only sessions of large enterprises. That's not even their main market, right?

Their target market is government. A lot of our due diligence and bullishness is really looking at a longer term picture. How big can this company be? What's the art of the possible? And if you think of the art of the possible here, $2 trillion TAMs that they're going after, government, there's a massive secular shift from big machines, proprietary software, to small machines, drones, AI. We are in the early innings.

We have this $2 billion government business. We think they could 5X to 10 billion on the enterprise side. That's a billion dollar business. We think that could 5X as well. So very early days. What are the signals then? What we're underwriting is a longer term opportunity.

What are the signals then in product and strategy within Palantir that they are both consolidating the lead that they've got thus far in this enterprise AI lane where they are and expanding? Does it have to do with developer tools? Does it have to do with platforms, unique environments that they're gonna build? That's part of the enterprise software playbook,

but I don't know if they're going to follow that traditional playbook. There's nothing traditional about this business model, management team or approach. So unconventional is the right label here. I think five years ago when we looked at this business, we put it in that data tooling space. As we've done a lot more due diligence,

talk to customers, talk to partners, those former competitors are now partners, both on the defense side, where they compete against prime contractors, they're not partnering with the primes, with data companies like Databricks, they're not partnering with Databricks, right? So I do feel like the signals are competitors

turning into partners, number one. Number two, if you look at just web traffic trends, if you look at like the acceleration you're seeing and web traffic trends going to the website here, the pace is very similar to Palantir, as you're seeing the web traffic trends at ChatGPT, the web traffic trends you're seeing at Anthropic, and so it looks like those signals there

are matching up with what we think will be an AI secular winner along with some of those others. We were just showing on the screen the government revenue growth and Palantir does have a great exposure to government revenue because it's won a lot of that business, but aside from that, from a strategic point of view, what's the biggest risk to Palantir?

Either a technology-based competitor or a shift in trend that would potentially upend your move here? Listen, government's a little harder. I'm not a government specialist, right? So that's a little bit of a black box for me, but you can see the awards stacking up to give us confidence that business can get a lot larger.

You have this secular shift from big machines to small machines and AI software. On the enterprise side, what could go wrong? What's driving that business? 30 years, we've seen the pendulum swing away from custom software towards prepackaged SaaS. What needs to happen is you need to see a shift away from prepackaged software to custom. And if that happens, I think that's what's fueling the growth for Palantir.

If that pendulum doesn't swing back to custom builds, where a Citi builds their own custom app on top of Palantir, where a Wendy's builds their own custom app on top of Palantir, where a Wendy's builds their own custom app on top of Palantir. If they go back to just buying prepack software, that growth profile will be wrong. That's where the risk lies. So that's the secular trend you're betting on here with this one is more enterprises with their own proprietary data,

with this ontology logic layer, delivered through Palantir, they can build their own custom apps. That's what you're back. I love how clearly you articulated that risk. You're watching your blind spots. Brent Braceland from Piper Sandler, thank you on Palantir.

While Coursera getting an A plus from investors today after soaring on an earnings beat, strong revenue guidance, up next we're gonna hear exclusively from the online learning platforms CEO. Plus, is the meme trade back for good? Well, was it ever here for good in the first place? What that could say about the appetite per market risk

that's coming up on Overtime as well. Be right back. Right back. Welcome back to Overtime. Shares of Ugg Bootmaker, Decker's Outdoor jumping. It's hard to believe that the company is going to be able to make a profit Welcome back to overtime. Shares of UGG bootmaker Decker's Outdoor jumping. It's hard to jump in UGGs.

After a top and bottom line earnings beat, the company citing higher than expected sales of its flagship brand as well as its Hoka shoe and sandal line. Decker says it started raising prices on some of its shoes by around $5 to offset the cost of tariffs, planning to add5 to offset the cost of tariffs, planning to add more increases throughout the year, management saying it was also considering hiking prices for not yet launched designs. Well, a huge day for education technology company Coursera as that stock pops 36% post-earnings. I spoke exclusively with new CEO Greg Hart, who started in February, about the trends

that led to the beat. I think what we're seeing is that, number one, a few years ago, when Gen.AI first came out, we were very quick to start both getting content around Gen.AI so people could learn about it, but also leveraging it as a tool. And so we have a bunch of different functionality

on our platform that helps learners and leverages Gen.AI to do that. So Coursera Coach, which is an AI-driven tutor that helps people go through a class, really helps them if they're struggling. And so we see that learners who engage with Coursera Coach have higher course pass rates, higher quiz pass rates. We also see that more first-time learners and women engage with coach. And so it levels the playing field as well. Hart said Coursera is both selectively hiring people to fuel growth and using AI itself to stay lean. One of the big themes that we've had since I came in is how do we make sure that we're taking a product led approach to growing

that really is deeply rooted in understanding our customers and our need and their needs, and then how we can do a better job of serving them on the platform? So we're absolutely continuing to invest, but also leveraging AI to drive efficiencies. And I think you see that reflected both in the revenue guidance, but also in the fact that we're delivering operating leverage with the adjusted EBITDA margin also increasing. Finally, I asked him what the key differences between a player like Coursera, which is benefiting from the AI surge, and EdTech companies, Chegg, which

has been gut punched by it. Well, I think for every industry, that is the trillion dollar question. How do different companies in a given industry, whether that's education technology or other industries, leverage AI to their benefit? And how can they make it a differentiating factor? I think there are a couple of things about our particular

approach that make it a little bit more durable and a little bit more differentiated. In an era with GenAI where the ability to create content has never been easier, I think the value of content from trusted partners like our university partners, like our industry partners, the Googles, the Metas, the Microsofts, the IBMs, deeplearning.ai of the world has never been higher because it comes from authorities and experts, and those are well respected brands. After today's move, Coursera at levels it hasn't seen since the spring of last year.

Well time for a CNBC News update with Kate Rogers. Kate. Hi John. The Education Department announced today it will release the remainder of previously frozen grant funds for schools. Earlier this month, the Trump administration withheld more than $6 billion in funding. It then reversed its decision last week when it released $1.3 billion of the money that would fund after-school programs. Today's money goes toward programs such as adult literacy and English language instruction. FEMA is starting a program that would send $608 million to states to help build migrant detention centers.

The agency said today states have until August 8th to apply. Earlier today, Florida Governor Ron DeSantis said the state will apply for those funds to pay for the detention center dubbed Alligator Alcatraz. FEMA did not say if Florida would receive the money. And more than 100 NFL players are facing fines for selling Super Bowl 59 tickets above face value. The Associated Press reporting players will have to pay 1.5 times more than what they paid for the tickets and they cannot buy tickets for the next two Super Bowls unless they're

participating in it. Back over to you, John. All right. Kate Rogers, thank you. Well, up next, Interactive Brokers Chief Strategist on the return of meme stock mania this week, what that could mean for a broader market that keeps hitting new highs. Plus, Apple's been outperforming the rest of the Dow this month, but it's still down 14% this year. Coming up, we'll break down the charts

to see whether next week's earnings from Apple could fuel this recent rally. We'll be right back. We'll be right back. Welcome back to Overtime. Time for your market reset. The major averages all closing in the green with the S&P 500 and NASDAQ once again in record territory. Commodities not faring nearly as well.

Gold and Brent crude both settling below their 50 day moving averages and silver lower for the second straight week. Meantime gold miner Newmont, a big winner today after beating Wall Street's earnings estimates and announcing a three billion dollar stock buyback program. Well the meme stock trade is making a comeback. Stocks like American Eagle, Coles, Open Door, Krispy Kreme, and GoPro all up double digits

this week. But what's fueling this surge? Is this a sign of renewed retail confidence or summer overheating? Let's ask Interactive Brokers Chief Strategist Steve Sosnick. Steve, what do the charts tell you? Well good to see you John. I think what it's telling me is that there's there's a undercurrent of retail enthusiasm That has been growing all along individual investors Learn to embrace risk and they did so

Wonderfully they they were the ones really stepping in in April But what happens is the lesson that's been learned now is the more risk you take, the more risk you seek, the more it pays off. If you keep throwing darts at a dartboard and you keep hitting the bullseye, you're going to keep throwing those darts. And that's what we've seen now. This is just the latest in a series of risk on type of moves. Last time I was on with the show, I sort of shocked Morgan by using the phrase, flight

to crap. I said, I think of shocked Morgan by using the phrase, flight to crap. I said, I think we're starting to see signs of it. I think this is a bigger sign of it. And that's not necessarily a bad thing, but it shows that individuals are taking on ever more risk in search of returns. Risk equals returns now, not the potential for loss to a lot of people. Well, Steve, if it is a flight to crap, it's fully booked. So what should investors do, especially given the margin

levels that we see out there? Is there a place to hide? Well, the place to hide is basically in more defensive sectors or cash or short-term fixed income. Those are always the places to hide. And they are earning you actual real money. Despite the president trying to jawbone the Fed lower, always the places to hide, and they are earning you actual real money. Despite the president trying to jawbone the Fed lower, they're not cutting rates at this

next week, and the likelihood of them doing so in a meaningful way is relatively small. Maybe a cut here, maybe a cut there. Those are places that you can hide. What I wouldn't be doing is chasing the next meme stock on the open. That's been the worst trade that people could do because the way we've seen these trades set up is people buying calls the day before in low priced, heavily shorted names that have good name recognition. Then they take off on the open the next day and that's basically the people who are left

holding the bag. And so that's what I would not want to be doing. What I would want to be doing is sticking to knitting, looking for stocks with dividends, looking for stocks that have solid earnings, not just the hot story of the day. Well, Steve, on the open of this show, I noted that the last time we had

a run like this, consecutive days of the S&P 500 hitting record highs, it was November of 2021. And that was sort of the last, second to last surge before the market took a big breather, kind of a couple years worth of breather. Is there any signal in this memish hot action for the broader market in general? Anything that investors should take from that or is there too much danger in reading history that way? I don't think there's too much danger. I did catch that earlier, John, and actually what I would say is that was when the NASDAQ 100 actually peaked in November of 21 and then the S&P 500 peaked, I think, on the first day of 2022. But even then, it didn't just plummet, didn't fall straight out

of bed. But I think that's the type of behavior we see. When it seems like things can't go wrong, when it seems like everything works, the market has a way of punishing the biggest number of people at the worst possible time. That doesn't mean that there's disaster lurking around the corner. But what it does mean is you need to be a bit perceptive of the idea that stuff could be a little tricky from time to time. But the Worryworts got it wrong in April, right? So how do you look at your portfolio and be reasonable but not freak out too much?

I think what you want to be doing is figuring out if you're sort of over your skis, so to speak. That means, have you gotten too heavily overweighted in certain names? Have you gotten too heavily overweighted in certain risky types of stocks? What led me to the phrase earlier was just the type of risk seeking behavior where people paying, I would be avoiding things like crypto treasury companies where you're basically paying a premium for something you could buy for face value.

I would avoid SPACs, which is basically give me some money and I'll figure out something to do with it. I would be avoiding margin to some extent, though I will say our company is known for issuing margin at good rates, but maybe you'd want to lighten up on some margin trades. You also might want to take advantage of the fact that VIX closed below 15, and it's a very opportune time to purchase hedges. Those are some things you might want to be thinking of.

All right, Steve Sosnick, thank you. May all your flights be to wonderful destinations. Up next, why ongoing trade tensions with the EU and Mexico could create especially bad tariff hangovers for American whiskey companies and Constellation brands the maker of Corona and later We'll discuss what's at stake for Disney with this weekend's release of the fantastic four as it tries to rebound from recent Superhero flops at the box office over time be right back

Welcome back to overtime investors are toasting to Boston beer today. The Sam Adams and Truly Hard Seltzer Maker beating Wall Street's earnings estimates and adding it sees the impact of tariffs on its business being less than previously feared. And speaking of tariffs, trade negotiations continue between the EU and the United States with whiskey caught in the crossfire once again. Sounds like a Western. Our Brandon Gomez has those details and where things stand around these parts. Brandon?

Hey, John. Yep. Let's just say negotiations are well on the rocks. The European Union once again targeting American whiskey. This comes after three years of booming exports to the country, up nearly 60% since the 25% tariff was lifted back in 2022. But now whiskey is back in the crosshairs. We're talking Brown Foreman's Jack Daniels, Constellation Brand's Utah Distilled High West Whiskey. Here's the breakdown. The U.S. is set to slap a 30% tariff on EU imports starting August 1st if no deal is reached in the next week. The EU's counter? Well, a 15% tariff proposal. And a retaliatory list of imported goods from the US

that now includes previously exempt items like whiskey and bourbon. European leaders from countries like Italy and France, large wine and L'Cour exporters, think about all those Aperol spritzes of summer and bottles of rosé. Well, they had successfully taken whiskey off the table a few months ago as a mark of good faith. No longer, John. Negotiators are still eyeing a 15% cap on

tariffs. Alcohol may not make the final cut, though. So if you're looking to have cocktails free of global politics, you may want to pour one out now. Ouch. Well, any exceptions, exemptions from these tariffs? Well, in terms of the EU, we may see some of those same arguments made that were made previously to have it exempt. What I do want to draw investors' attention to is what's happening in Mexico. Corona, Modelo, Owner, Constellation, Brands, they were actually forced back in 2018 to keep production over in Mexico. Now they're saying, why should we be held accountable for keeping it there when you

told us in the first place, and why should we have to pay tariffs on bringing that product back into the U.S.? So again, it's something that the Distilled Spirits Council is advocating for, saying there should be those exemptions. We'll see how it plays out in a week. There's a couple deals still left on the table to be made. Always deals. Brandon Gomez, thank you. Nice shoot. Thanks.

Apple, Amazon, Microsoft, and Meta are ready to dominate next week's earnings calendar. Up next, we'll break down the charts to see how you should be trading them ahead of those numbers. And don't forget, you can catch us on the go by following the Closing Bell Overtime podcast on your favorite podcast app. Be right back. Welcome back to Overtime.

PagerDuty shares rallying on a Reuters report. The software maker is exploring its options, including a sale, after receiving interest from potential suitors. Now, despite today's gains, the stock's still down roughly 12% so far this year. Now, we have a news alert on Paramount. Our Julia Borsten has the details. Julia? Hey, John.

Paramount announcing when its deal is going to close with Skydance. The FCC just gave the final approval necessary for this deal to close. Now Paramount Skydance will that deal is expected to close on August 7th and they've just announced they expect to begin trading on the Nasdaq under the symbol PSKY. Of course, previously Paramount was PARA. The company also announcing the deadline for common stockholders to make their elections. And that is July 31st with earlier deadlines for employees of the company. So fascinating to see this deal come to a conclusion. We'll see it closed in just a couple weeks. Back over to you.

All right, Julia Borstein, thank you. And now let's turn to M&A. No, not that kind. The MAG-7, Meta, Microsoft, Amazon, Apple, all releasing results next week, but how should you trade those stocks ahead of the reports? Well, joining me now to look is Katie Stockton from Fair League Strategies, also a CNBC

contributor. Happy Friday. Good to be here. So starting with Meta, you say it looks the momentum is neutral. I would say short term the momentum is neutral, longer term it's still very much positive. You can see that the chart has resistance at previous highs so that's where we're pulling back from in Meta And it probably is healthy. I don't know that you should step in front of these earnings reports without knowing exactly what's coming. But I would say that the consolidation phase, we're going to trust that it's refreshing the uptrend.

With that consolidation, we've seen some underperformance relative to the S&P 500. And I actually think that's healthy as well in that it means that it's not coming in to earnings too hot. And had been doing very well even before this period, right? That's right. So it just met some resistance

after a very good phase of outperformance. Okay, next Microsoft. Microsoft on the other hand is coming in a little hot to earnings. So you can see both in absolute and also relative terms, we have pretty steep up moves and even it feels like that it's nearly uninterrupted, the upside that we've seen.

So it wouldn't be terribly surprising to see some kind of interruptions, some kind of pullback, just given some signs of short-term exhaustion. But as it stands, the momentum is still positive in absolute terms. It started to falter a little bit versus the S&P 500. And with that in mind,

maybe Microsoft won't be going forward the source of the upside leadership that it has been. Now, is that because the S&P 500 in general has been doing better and hasn't been led as much by the mega caps as it had been before? I think so. There's been very much an expansion in market breadth or participation and that is healthy. It doesn't mean Microsoft has to really underperform, but it does suggest that there's, you know, investors are looking elsewhere. And I think they're right to do that because when you can pick up something that's relatively oversold, the potential there for positive technical catalysts is

greater. Okay, so what should we take next, Apple or Amazon? We'll go with the alphabet. We'll go with Apple. Okay. APL. So on Apple, you see that we've had a bit of a turnaround. You can see that in the curvature of this 50-day moving average.

So it's a different kind of setup. It's not a healthy long-term uptrend in the way that the others were. And yet the turnarounds are kind of interesting because we have this relatively oversold condition. So we do expect Apple to maybe challenge its 200-day moving average. It's roughly 221 on the chart. And a breakout above that would garner

probably additional momentum. But there's this issue with AI and Apple that's very much tied to its iPhone cycle, and we know that that technology, the promise of more intelligent Siri, isn't coming for quite a while. So it makes me wonder if it's different in that way from these other stocks.

Well, I would say that investors are treating it as different in that the loss of long-term momentum behind Apple is more meaningful. And so we're viewing this move as counter trend and they're in likely shorter lived. All right, and on to Amazon. Amazon has exhibited very strong positive short-term momentum, both in absolute and also relative terms.

It doesn't look terribly overextended versus the S&P 500. So as a potential ongoing source of app performance, I think Amazon qualifies. And we love seeing these golden crosses. So the 50-day crossing above the 200-day. They're not usually great market timing devices, but they do tell us that the long-term uptrend is intact. So with this relief rally or rebound off of the April low, we assume now that the long-term uptrend has resumed. Now, purely from a technical standpoint, you sounded more positive about buying Amazon

around this period of time, not talking specifically about ahead of earnings, because you were kind of negative on that, then the other stocks? If I had to rank them, Amazon would definitely be top one or two in terms of how it setups both long-term and also short-term.

There's a lack of sell signals for Amazon. We look for overbought indications from our indicators, and we don't really have those right now for Amazon. So that's a positive differentiator, say, from Microsoft. All right. Well, we are armed with information now. Katie Stockton, thank you. Well, up next, what's at stake for the box office and Disney when Fantastic Four goes head-to-head with Superman

and a superhero showdown this weekend? Plus, Mobileye, the autonomous driving and driver assist technology company, reported results yesterday that beat on the top and bottom lines. The company raised its guidance as well. Stock popped in the pre-market but fell in regular trading along with Tesla. I spoke with CEO Amnon Shashua about how his costs stack up to rivals and autonomous. stack up to rivals and autonomous. The cost of our system is very lean. We're talking about cameras that don't cost much, the electronics with our IQ chips, you know,

$1,000, $1,500, doesn't cost much, imaging radars, five of them that we produce, you know, it's hundreds of dollars, and a few ladders that are also very reasonably cost. So the difference between Waymo and us is significant, but I believe also Waymo over the years they'll come up with the next generation system with lower cost. I don't believe that they'll stay with a very high cost system that they have today. But the difference between our self-driving system cost and Tesla is really non-material.

Welcome back to Overtime. Monday kicks off another massive week of earnings with whirlpool new core and the Hartford Tuesday brings Visa UPS Procter and Gamble Starbucks and Boeing Wednesday's meta Microsoft Qualcomm arm holdings and Ford then Apple Amazon Coinbase Bristol Myers and CNBC parent company Comcast her out Thursday and Exxon Chevron Colgate Kimberly Clark are the big name stocks to watch on Friday. And on the economic front, we'll get consumer confidence in the K. Schiller home price index Tuesday. The first reading of second quarter GDP and ADP employment will be on Wednesday, and then jobless claims

are the highlight Thursday before the week closes out with the July jobs report and ISM manufacturing. Well, here's something else to literally watch this weekend. Disney hoping for a fantastic debut for its latest superhero film, the Fantastic Four. Will it prove to be kryptonite to the current box office king Superman? Julia Borsten has the details. Julia. Well, Fantastic Four's Thursday night previews are in, and so far at least, this set of four

superheroes are beating Superman, the four grossing $24.4 million at the domestic box office last night, ahead of Superman's Thursday previews. This puts Disney on track to gross at least $115 million opening weekend up from prior expectations. This is a sign that Marvel is on track. Now, this comes after recent Marvel disappointments, including Thunderbolts flopping in May on one of the lowest grossing Marvel movies ever. Theater chains are also hoping Marvel will continue to boost the box office. Box office has made gains. It is up about 14% from last year at this time, but it's still nearly a quarter lower than pre-pandemic levels. Now, Fantastic Four and Marvel are facing growing competition from Warner Brothers,

which demonstrated the revitalization of its DC studio with Superman, which scored a $125 million U.S. opening weekend and has topped the box office the past two weekends. Now Superman's success is the start of the studio's 10-year plan for a cohesive DC cinematic universe from Superman director James Gunn, which puts even more pressure on Fantastic Four to bolster the Marvel franchise. Guys? Julia, this is interesting to me for so many reasons, but in part because Fantastic Four, that's kind of like the original Marvel superhero team.

And Superman is arguably the original DC superhero as well. So even though people have been saying that superheroes are running out of steam at the box office it appears that maybe There's a sixth or seventh wind Well, yes, I think the success of Superman proves there is no superhero fatigue and yes the Fantastic Four have been around for a while But from a movie standpoint These are much less popular superheroes if if you will, than the likes of the Superman. So it's a very different deal for Marvel to basically try to reboot the Fantastic Four. New stars here.

We'll have to literally check it out. Julia Borsten, thank you. Well, that's going to do it for overtime. Fast Money begins right now.