CEOs of Wells Fargo and Pfizer caution the U.S. could lose its edge to China without innovation

Key Points

Wells Fargo CEO Charlie Scharf said AI is boosting productivity but will likely reduce workforce size.
Pfizer CEO Albert Bourla warned China is closing the biotech and pharmaceutical patent gap rapidly and said the U.S. needs to focus on innovation.
Speaking at CNBC’s inaugural Invest in America Forum, both CEOs agreed that the time is now for new investments in technology and manufacturing to ensure competition in the global economy.

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Finance

Traders believe inflation could near 5% this year

May 12, 2026

Key Points Traders on Kalshi think inflation will likely rise above 4.5% in 2026. A smaller number believe price increases will breach 5%. Those levels are higher than economists’ forecasts, which see inflation peaking at an average of 3.8% in the second quarter. Source

Finance

Greenlight’s David Einhorn pitches five turnaround stocks at Sohn, from AI to infrastructure

May 12, 2026

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Finance

Stocks making the biggest moves midday: Wendy’s, Vestis, Cleanspark, Under Armour & more

May 12, 2026

Check out the companies making the biggest moves midday: Vestis – The uniform and apparel maker surged more than 30% after its fiscal second-quarter results beat expectations. Vestis also raised its fiscal 2026 EBITDA outlook. Zebra Technologies – The automation stock popped 17% on better-than-expected Q1 results. Zebra earned $4.75 per share, excluding certain items, […]