HAPPY FRIDAY TO THE STREET.

Was the White House crypto dinner really just one big rugpull?

An influencer who attended says so, calling his meal a “Walmart steak”, while bemoaning the lack of access his attendance afforded him.

Don’t know how you make $360,000 on crypto without learning the lessons of the 2021 bull market. Then again, the guys attending this dinner probably weren’t the same ones that invested in FTX…

• 🟥 | US stocks slid and major indexes closed the week in the red after President Trump threatened a 50% tariff against the EU starting June 1.

• 📈 | One Notable Gainer: Investors intuited big things for Intuit $INTU ( ▼ 0.02% ) after the TurboTax owner beat earnings expectations and raised its guidance.

• 📉 | One Notable Decliner: Apple $AAPL ( ▼ 1.08% ) fell far from the tree as Trump also declared the tech giant would have to pay a 25% tariff on all iPhones not made in the US.

— Brooks & Cas

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*Reserving a Nasdaq ticker does not guarantee a future listing on Nasdaq or indicate that BOXABL meets any of Nasdaq's listing criteria to do so.

STOCK HEATMAPS

Market Movers

BOOZ ALLEN HAMILTON, DECKERS, CROWDSTRIKE

$BAH ( ▼ 0.36% ) Booz Allen to Cut 2,500 Jobs as Business Grapples With Trump Spending Crackdown (WSJ)

$DECK ( ▲ 2.37% ) Deckers Outdoor Stock Plunges on Weak Outlook and Tariff Concerns (Barron’s)

$CRWD ( ▲ 0.52% ) CrowdStrike Rises After Key Bullish Signal (Benzinga)

$WDAY ( ▲ 0.25% ) Workday forecasts lukewarm quarterly subscription revenue, shares fall (Reuters)

$ROST ( ▼ 0.19% ) Ross Stores Stock Tumbles as Retailer Pulls Outlook Amid Tariff Uncertainty (Investopedia)

OVERHEARD ON THE STREET

CNBC: Trump signed executive orders to overhaul the Nuclear Regulatory Commission and speed up reactor development.

AP: The Justice Department reached a deal with Boeing $BA ( ▼ 1.4% ) to avoid prosecution for allegedly misleading regulators prior to deadly crashes.

Reuters: New US single-family home sales hit a three-year high in April as builders cut prices to attract buyers.

WSJ: Major banks, including JPMorgan $JPM ( ▼ 0.86% ) affiliates, are exploring the creation of a joint stablecoin.

FT: Oracle $ORCL ( ▲ 1.81% ) will buy $40B worth of Nvidia’s $NVDA ( ▼ 1.36% ) chips for a planned OpenAI data center.

Tomorrow's Trade Idea, Today

WHEN THE RUBBER MEETS THE ROAD

Kicking Into High Gear

JPMorgan $JPM ( ▼ 0.86% ) analyst Ryan Brinkman has turned bullish on Goodyear Tire & Rubber $GT ( ▼ 2.62% ), citing its rapid progress on its ambitious transformation. His revised year-end price target of $17 represents an upside of more than 55%.

Goodyear’s “Goodyear Forward” plan, initiated following activist firm Elliott Investment Management’s 2023 investment, is now ahead of schedule. The two-year overhaul calls for $1.5 billion in savings, margin growth, and debt reduction — all of which Brinkman thinks will position Goodyear for stronger future earnings.

Dodging Tariffs

According to JPMorgan, Goodyear holds a major advantage over its peers.

Its US-based manufacturing makes it more resilient to new tariffs than many of its rivals, Brinkman maintains. This strategic positioning could lead to price and market share gains, while making the company a potential safe haven from tariff pressures.

The analyst also pointed to Goodyear’s industry leadership and cost-efficient operations as key reasons for its superior positioning amid international trade tensions.

Accelerated Deleveraging

Goodyear’s dramatic transformation is being driven not only by operational improvements, but by proactive asset sales as well.

The restructuring process, which has cost less than expected, is accelerating the company’s debt reduction efforts. Brinkman believes this will catalyze stronger financial health moving forward.

The broader market sees a bumpy ride ahead. Of the 11 analysts covering the stock, six rate it a Buy or Strong Buy, while five give it a Hold. But JPMorgan believes that, when rubber meets the road, Goodyear will deliver.

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ON OUR RADAR

BI: This opinion piece argues it would be impossible to make an iPhone in the US.

Bloomberg: Douglas Elliman $DOUG ( ▲ 2.68% ) , embattled by the Alexander Brothers scandal, received a takeover bid from Anywhere Real Estate.

WSJ: A judge blocked the Trump administration’s attempt to bar Harvard from enrolling international students.

Reuters: Shares of European luxury stocks slumped on news of Trump’s proposed 50% tariff on the EU.

CNN: Controversial facial recognition cameras are helping Louisiana police track and arrest escaped inmates in New Orleans.

THURSDAY’S POLL RESULTS

Will Lottery.com $LTRY ( ▼ 7.33% ) be delisted in the next 12 months?

▇▇▇▇▇▇ Yes

▇▇▇▇▇▇ No

And, in response, you said:

• Yes — 

  • “It shouldn’t even exist!”

  • “They should be put under the jail. Not in it.”