Three companies are cutting differently, and only one is on offense

Meta is eliminating roughly 8,000 jobs and canceling 6,000 open roles to fund up to $135 billion in AI investment this year, a calculated offensive bet. Nike is cutting 1,400 positions, mostly in technology, to fix a business model that stopped working. Electrolux is diluting shareholders with a $976 million rights issue and handing strategic control of its North American operations to Chinese rival Midea, sending shares down 12.64%. The question for each is whether the pain is chosen or forced, and the answer shapes what shareholders actually own going forward.

Intel beats while Tesla pays for tomorrow

Intel beat Q1 estimates with revenue up more than 7% and issued above-consensus Q2 guidance on AI data center server chip demand, lifting shares 2.42%, a clean example of selling picks and shovels into the boom. Tesla beat Q1 earnings but fell 3.58% after announcing capex will surge to $25 billion in 2026, stripping all timelines from its robotaxi launch, and delivering an unusually cautious tone from Musk. OpenAI's release of GPT-5.5, described as its most capable model yet with advances in coding and research, raises the competitive stakes and makes Tesla's receding autonomy timeline and Intel's present-tense momentum both more consequential.

Washington is the market maker for four names today

Regeneron gained 2.64% after the FDA approved its gene therapy for inherited deafness and the company struck a drug pricing deal with the Trump administration, offering the therapy free to eligible U.S. patients at most favored nation prices, a rare regulatory win that also solves launch economics. MSOS fell 17.42% after the Trump administration announced expedited hearings on marijuana rescheduling, a move that should eventually deliver 280E tax relief but triggered panic selling over the uncertain path. Spirit Airlines dropped 26% after warning in bankruptcy court that cash will run out imminently, with its survival now depending almost entirely on an active government rescue negotiation. SAP fell 6.18% despite a 17% jump in Q1 operating profit on cloud demand, a reminder that when Washington is not the story, high expectations become the enemy.