Axios

Intel is feeling blue after investors reacted to the company's earnings outlook, Nathan writes.

Driving the news: The tech giant's stock closed down nearly 12% today after releasing earnings yesterday afternoon.

• Intel beat expectations on earnings and profit, but investors fixated on the company's first-quarter projection of $12.2 billion to $13.2 billion in revenue and a loss of 25 cents per share.

State of play: "While some parts of the semiconductor industry are booming because of strong demand for artificial intelligence chips, other server parts, such as the central processing units, or CPUs, that Intel makes, don't have the same kind of momentum," CNBC reported.

Developers are aiming high — really high — in Oklahoma City, with ambitions of constructing the tallest building in the U.S., Nathan writes.

Driving the news: Matteson Capital and architect AO recently revealed a proposal to build a 1,907-foot-tall skyscraper as the centerpiece of a 5 million-square-foot development in Oklahoma City.

• The structure's height — which would make it taller than the 1,776-foot One World Trade Center in New York — pays homage to the year Oklahoma became a state.

Yes, but: The developers will need height variance approval from the city for the Legends Tower, which was previously targeted at 1,750 feet.

Bitcoin's fall following this month's ETF launches has much of the crypto community wondering what happened to "buy the rumor, buy the news"?!

Why it matters: These cries of disappointment show a blindspot in the industry's understanding of how Wall Street picks up new things.

Nearly all the indicators released in recent weeks tell the same story: evaporating inflation alongside still-humming economic activity.

Why it matters: It's a turnaround from earlier in the inflation fight, when strong data may have spooked financial markets and policymakers. Now it's a sign that inflation can be beaten without a painful downturn.

All the juice in the housing market in 2023 was in new home sales — and that's likely to continue this year.

Driving the news: New home sales rose 4.4% in December 2023, compared to the previous year, per census data out Thursday.

A decadelong lending boom for apartment buildings doesn't look quite as smart as it used to.

Why it matters: It's another headache for smaller lenders that just limped through an ugly 2023. Regional banks lost deposits to larger rivals after the collapse of Silicon Valley Bank prompted many to move money to the apparent safety of the "too big to fail" banks.

It's official: We got the soft landing in 2023.

Why it matters: Nearly every economist on and off Wall Street was all but certain that the U.S. would face a sharp slowdown in economic growth last year.

General Motors' autonomous vehicle business, Cruise, disclosed it was being investigated by federal prosecutors and the SEC for its handling of an October 2023 pedestrian accident.

• Why it matters: The startup was once seen as a leader in self-driving technology, with bold plans to deploy robotaxis in more than a dozen cities this year, Axios' Joann Muller writes.

Driving the news: The disclosure was made in an independent report by a law firm hired by the company and released today.

Zoom in: In the wake of the investigations — it had previously disclosed probes from the California DMV, the California Public Utilities Commission and the National Highway Traffic Safety Administration — Cruise must now try to rebuild its damaged reputation by overcoming safety concerns and a lack of public trust.

U.S. median rent fell on a year-over-year basis in December for the eighth straight month as newly constructed apartments drive up supply.

Why it matters: Rent and home price increases had been a major source of inflation, Nathan writes.

By the numbers: Median rent declined 0.4% in December in the 50 largest metropolitan areas, compared with a year earlier, according to Rent.com:

• Studios: $1,437.
• One bedroom: $1,593.

Here's what's new on Netflix, Apple TV+, Paramount+, Peacock, Prime Video and Hulu.

What we're watching: A new season of "Queer Eye" in NOLA, a new not-for-kids movie starring Snoop Dogg and a hardcore series about Colombian crime boss Griselda Blanco.

Forget the much-discussed prospect of a soft landing for the U.S. economy. In 2023, there was no landing at all.

Why it matters: Big economic rules broke last year. The latest data to confirm that is the new GDP report showing very strong economic growth to conclude 2023, even amid a big cooldown in inflation.

Another year, another Oscars controversy. Margot Robbie and Greta Gerwig were not nominated for Academy Awards in the categories of performance by an actress in a leading role and achievement in directing, respectively.

Fast food is getting bigger in 2024 with the return of McDonald's Double Big Mac.

Why it matters: Calorie-rich, indulgent foods and snacks continue to grow despite the rise of diabetes and weight management drugs like Ozempic.

Consumer health company Haleon is voluntarily recalling select lots of Robitussin honey cough syrups due to microbial contamination.

Why it matters: The recalled products "could potentially result in severe or life-threatening adverse events" if used by immunocompromised individuals, according to the recall notice posted on the Food & Drug Administration website.

The U.S. economy expanded at a 3.3% annualized pace in the final quarter of 2023, the Commerce Department said on Thursday.

Why it matters: It's much stronger growth than economists expected and caps a year of economic resilience as the nation avoided a projected recession.

One of the year's biggest debt market fights is taking shape.

Driving the news: Dish Network shareholders, and multiple warring factions of the company's bondholders, have become combatants in a clash that could turn into a battle royale.

Even as Americans continue to face rising rent prices and high grocery bills, one area where they can find some relief for their budgets is airfare.

Why it matters: After both travel and ticket prices surged as pandemic restrictions eased, dropping flight prices mark a welcome trend reversal.