RH’s Tariff Warning, Media Mergers, The Next Frontier for Weight Loss Drugs 9/12/25

RH just the latest company to warn about the impact of tariffs on its earnings. Its CEO adding this is probably the worst housing market in 50 years. Then what could a potential bid from Paramount Skydance for Warner Brothers Discovery mean for the media landscape? And Novo Nordisk prepares for the launch of an oral version of its blockbuster weight loss drug. A look at the competition with Eli Lilly.

New this hour: The Senate says it will vote on Stephen Miran’s nomination to be Fed Governor on Monday. Then former Fed Vice Chair Alan Blinder joins the show to break down his new op-ed arguing “The Assault on The Fed’s Independence Should Concern Everyone.” Plus, the power struggle between OpenAI and Nvidia. How OpenAI is looking to empower smaller rivals. 

Sequia Partner and Klarna board member Andrew Reed joins the show ahead of the fintech company’s public debut at the NYSE. With a more than 20% stake, Sequioa is the largest shareholder. Then Tapestry announcing a new growth strategy and a $3 billion buyback. We sit down with the CEO. Plus, with Oracle shares jumping more than 40% after earnings, we look at how much the stock surge is adding to Oracle co-founder Larry Ellison’s wealth.

The CEO of AT&T says he doesn’t expect an iPhone super cycle following the release of the iPhone 17. Plus his thoughts on the company’s recent $23B deal with Echostar. Then the White House responds to the revised payroll data, saying the large change in numbers is why new leadership is needed. And the CEO of Barclays, live from the company’s financial services conference. His outlook for the economy and rate cuts.

Breaking this hour: The Supreme Court allows President Trump to remove democratic FTC member Rebecca Slaughter pending further review.  Then new numbers detail Tesla’s falling market shares as a percent of EV sales in the United States. Plus NFL super-agent Drew Rosenhaus, on the shift to streaming and ratings from week 1 of the season.

An unprecedent pay package for Tesla’s Elon Musk doesn’t come without some high performance benchmarks. How should shareholders be thinking about the potential compensation package? Plus, Lululemon shares plummet after an increasingly competitive environment and tariff headwinds dented outlook. The Street’s top retail analyst, JPMorgan’s Matt Boss lays out what to do with the stock. And then CEO of Nuclear company Oklo joins the show. After announcing plans to invest nearly $1.7B in a new nuclear waste recycling facility. Shares are up more than 1000% in the past year.

The CEO of Hewlett Packard Enterprise joins the show after a beat and raise in the most recent quarter. He breaks down how AI demand is impacting the business. Then the CEO of Abercrombie, on the company’s recently announced partnership with the NFL. How tariffs and consumer spending are impacting sales. Plus Apple CEO Tim Cook arrives at the White House, ahead of a rose garden event with other tech executives. A look at big tech’s relationship with Washington.

Shares of Alphabet soar after a judge rules it won’t have to divest its Chrome browser. A look at the impact of the ruling for other AI startups as well as Apple, which Google pays to be the default search engine on the iPhone. Then Macy’s shares tracking for the best day since 2021. A breakdown of results and the company’s turnaround efforts. Plus the CEO of HP Inc. is live from Citi’s annual TMT conference. How tariffs and AI demand are impacting business.

As President Trump continues to take aim at the Fed and Fed Governor Lisa Cook, former World Bank President David Malpass’ name has been floated as a potential replacement. He joins us with his outlook for monetary policy. Then a rebound in Manhattan office demand. A new study breaks down sentiment in the commercial real estate sector. Plus, OpenAI pledging to rollout new safeguard for ChatGPT after some high-profile cases have raised safety concerns for those in crisis.

We’re live outside the courthouse as the first court hearing for Fed Governor Lisa Cook gets underway. Arguing against her attempted firing for alleged mortgage fraud. What comes next in her court battle against the President? We discuss with former U.S. Assistant Attorney General Bill Baer. Then, Former CEA Chair Jared Bernstein reacts to this morning’s inflation print and gives his outlook on what it means for a possible rate cutting cycle. Plus, it’s the top gainer on the S&P 500 for the day. Autodesk surging after a beat and raise. Its CEO breaks down the quarter.