The Rundown - Intel Rallies After Naming New CEO, Meta to Launch Community Notes

Episode Date: March 13, 2025

Stock market update for March 13, 2025.

Public.com presents the rundown. Your daily market update in five minutes. My name is Zadadmani, and today is Thursday, March 13th. In today's episode, we tell you about more good news regarding inflation and not so good news regarding tariffs. We also discussed whether markets love Intel's new CEO and moderation changes happening at META. Then stick around to the end of the show to find out how much money Americans lost to scammers last year, and surprisingly, crypto wasn't the biggest culprit. Got a great show for you today? Let's go.

Well, guys, we finally got a green candle on Wednesday. Both the S&P 500 and NASDAQ snapped a two-day losing streak. The S&P was up 0.5% and the NASDAQ was up 1.2%. Looks like people started buying the dip after the better than expected CPI inflation report yesterday. Now, we still have a long ways to go before we recover from the carnage over the last three weeks, but it was nice to see some green yesterday. And we just got some more good news this morning regarding inflation. The PPI inflation report came out, which measures wholesale prices, and that came in way below expectations. Wholesale prices were flat in February compared to January. Estimates were expecting a 0.3% increase. So that's a big beat, and it's another data point

showing that inflation doesn't seem to be a problem just yet. Now with that good news, unfortunately, we got some more tariff drama this morning. Trump just threatened to put major tariffs on the EU. Remember yesterday, 25% tariffs on all aluminum and steel imports went into effect. The two most impacted countries of those tariffs are Canada and the European Union. Canada and the EU slapped the U.S. with some tariffs in retaliation to the steel and aluminum tariffs. We actually talked more about that in yesterday's episode, so go check that out if you missed it. Well, President Trump did not like that. And now Trump says he's going to hit these countries with even more tariffs because they retaliated. This morning, Trump posted on

untruth social that he plans to hit the EU with 200% tariffs on wine, champagne, and alcohol products. So yeah, we're still playing tariff ping pong. Seems like every morning I wake up, there's always some sort of new tariff policy or threat. And that just seems to rattle the markets every time. You know, it would be nice to have a day where tariffs just don't dominate the headlines. Let's run through some headlines. And we're talking about Intel again today. they finally announced a new CEO, Lip Boo Tan.

And Mr. Tan is ready to turn around the struggling chipmaker. Now, Tan used to be on Intel's board. He was given special responsibilities to oversee the company's foundry business, which, you know, has been struggling. But then Tan quit the board last August because of his disagreement over the direction the company was going under then CEO Pat Gelsinger. Well, the board ended up firing Gelsinger late last year, and now they decided to give the keys to Tan,

to help turn things around. Intel has high hopes that its foundry business can compete against the leading manufacturer TSM. TSM is based in Taiwan. Intel is based in the U.S. So there's been a big push, especially by the U.S. government, of trying to get Intel back on track. Because having the ability to manufacture state-of-the-art AI chips in the U.S. has turned into a national security issue at this point. And that's why Intel has received over $2 billion in federal grants to help bolster its manufacturing business in the U.S. This was part of these seven $7.8 billion award to the company via the Chips and Science Act to make the U.S. self-reliant on domestic chips. But even though the company has received billions of dollars in funding,

they've still struggled to turn around the foundry business. The company's foundry business sales dropped by 13% in Q4 alone, and overall Intel's revenues fell by 2% in the past year. And as a result, Intel stock has dropped by more than 50% over the last 12 months. So we'll have to see if Tan is the guy to finally turn things around. He did write an email to Intel staff saying that he plans to turn both the product and the foundry business at Intel into a world-class company. He's got a lot of work to do to pull this off, but if he does, tan is going to be a legend. Markets seem to have some hope. Intel stock is up almost 15% this morning in reaction to this announcement. Let's shift gears and talk about meta. They're also

making some big changes. They announced that community notes are coming to meta platforms starting March 18th. Meta announced say they're going to be rolling out community notes to Facebook Instagram and threads, and they already have around 200,000 contributors that have signed up to help take part of this program. And the system is going to work just like it does on Twitter or X. In fact, Mera is planning to use X's open source code to start off. Meta says there's going to be an algorithm in place to safeguard against biases.

So we'll see how it actually plays out in reality. But yeah, this is a big shift from meta. Zuck previously said they plan to cut back on moderation and instead adopt the community notes policy and it looks like it's finally rolling out. And it'll be interesting to see how it all plays out. People don't realize, but like 2 billion people a month are using meta apps. I mean, it's a lot bigger scale than X.

They need to start looking into doing community notes for Facebook Marketplace. I'm not going to lie, I've been duped a few times from Facebook Marketplace posts. Let's talk about some stocks making moves today. Capri shares are up today after the fashion house named a new creative director for the Versace brand, ending Donatello Versace's reign at the company since her brother and founder Gianni Versace was assassinated in 1997. There are also reports that Prada is working on an agreement to buy Versace for $1.6 billion per Bloomberg. No Capri owns a ton of brands, including Jimmy Chuse and Michael Coors, and shares of Capri are up around 1% this morning on this news.

On the flip side, Adobe shares are falling, despite the company's earnings coming in line with expectations. It seems like investors are let down by the revenue forecast, and now are questioning whether the AI monetization that Adobe has is happening as quickly as they initially anticipated. Adobe reaffirmed its annual revenue forecast and said they are well positioned to capitalize on the creative economy driven by AI as it integrates generative AI into its suite of products like Photoshop. The company's annual reoccurring revenue for its Adobe AI and its add-on offering was $125 million, which is just a tiny fraction of the total $5.7 billion for the quarter.

So investors don't seem to be impressed by that, and Adobe stock is down around 11% today in reaction to these earnings. Let's wrap the show with a fun fact. Americans lost $12.5 billion to scams last year. That's up $2.5 billion from the previous year, according to the Federal Trade Commission. Now, a big portion of that comes from the investment category. Losses to investment scams jumped. to $5.7 billion. That's up to 24% from the year before. Now, I bet a ton of you guys are thinking

that crypto was the biggest contributor to that. But actually, the biggest losses happened by bank transfer payments, you know, like those Zell's scams that you've probably heard about. That accounted for about $2 billion in losses. Crypto was close behind with $1.4 billion in losses. Now, those totals are the ones reported by the FTC. There's another report out there from chain analysis saying that crypto scams likely hit a new record of $9.9 billion in, which is significantly higher than what the FTC has reported. One of the biggest increases in finance fraud was driven by a process called pig butchering, which involves scammers building a relationship with their targets on dating

apps or social media before tricking them into fraudulent investments. So remember, if you get a random DM from someone being super friendly or wanting to date you and then a few days later they start talking about a random cryptocurrency, might want to double check their profile. I'm not saying that your game isn't good, not trying to hurt your confidence here. Just saying there's a good chance you're talking to a scammer. All right, guys, that's the rundown for today. Hope you guys enjoyed today's episode.

Got one more tomorrow to cap off the week. We also got our weekend deep dive, so make sure you guys are subscribed to the podcast to stand the loop. If you guys enjoy the show and you have like 12 extra seconds, consider giving us a five-star rating on Apple or Spotify. If you're listening on Spotify, don't forget to vote in today's Spotify poll. and leave us a comment on Spotify. All that engagement really does help us out and it helps other people find the show.

Thank you guys so much for listening. Shout out to Mike and Connor for all the help behind the scenes. I'll see you guys back here tomorrow. This is the rundown, your real-time resource for news events and trends in the markets. All views presented in the show reflect the opinions of the guests. You should not take any mention of a publicly traded security

as recommendation to buy, sell, or hold that security. Run-down guests are not financial advisors and are not affiliated with public holdings or its subsidiaries. You should make your own financial and investment decisions. or consult, respective professionals, learn more at public.com disclosures. In partnership with Zaidamani, brokerage services for U.S. listed, registered securities are offered by Open to the Public Investing Incorporated, member FINRA and SIPC.