CNBC's "Fast Money" Podcast Summary
Episode: Markets Digest Latest Inflation Read… And Trade Desk Turmoil Deepens
Release Date: August 14, 2025

Hosted by Melissa Lee, along with traders Tim Seymour, Steve Grasso, Karen Feinerman, and guest analysts, CNBC's "Fast Money" delves into the day's most impactful financial news. This episode covers a spectrum of topics, from government involvement in major tech companies to significant movements in the ad tech and pharmaceutical sectors. Below is a comprehensive summary of the key discussions, insights, and conclusions from the episode.

1. Intel's Potential US Government Stake

Overview:
Shares of Intel surged following reports that the Trump administration is contemplating taking a stake in the semiconductor giant. The speculation intensified after Intel CEO, Lip Bhutan, met with President Trump at the White House.

Key Discussions:

• Eamon Javers ([01:44]): Highlighted the lack of official comments from both the White House and Intel, citing statements that dismissed discussions as "speculation."

• Steve Grasso ([02:00]): Expressed skepticism, noting, “when you hear a government nationalizing a company, stocks don't rally 8%. They usually sell off dramatically.”

• Melissa Lee ([02:52]): Pointed out the stock's 19% weekly increase, attributing it to President Trump's focus on Bhutan, remarking, “Maybe the best thing that's happened to intel in recent history is that President Trump picked on Lip Bhutan.”

• Karen Feinerman ([05:57]): Compared the situation to the financial crisis interventions, questioning the unusual nature of such government involvement outside a crisis.

Insights:

• The potential government stake in Intel is viewed through a strategic lens, emphasizing national security and technological leadership.

• Comparisons were drawn to emerging markets where government involvement often signals a strategic imperative rather than an investment opportunity.

Conclusion:
While the stock reaction suggests optimism, experts caution against interpreting it as a conventional investment scenario. The move appears to be more about national strategy than financial investment, making it a novel and potentially unprecedented action in the current economic landscape.

2. Applied Materials' Earnings Report and Market Reaction

Overview:
Applied Materials reported a drop in shares despite surpassing top and bottom-line expectations. The decline was attributed to a revised outlook and decreased demand from China.

Key Discussions:

• Christina Parsonnevolis ([11:02]): Detailed the earnings report, noting, “Chinese revenues... are going to drop to 29%,” and highlighted issues with U.S. export licenses delaying approvals.

• Eamon Javers ([12:37]): Critiqued the company's guidance, stating, “the guide is scaring people,” and emphasized the stock's underperformance despite a record quarter.

• Karen Feinerman ([13:02]): Argued that a lower guidance was justified given the uncertainties, suggesting, “they should guide lower.”

Insights:

• The semiconductor industry's reliance on Chinese demand poses significant risks amid geopolitical tensions and regulatory hurdles.

• Investor sentiment shifted negatively due to cautious future guidance, overshadowing the company's strong quarterly performance.

Conclusion:
Applied Materials faces headwinds from reduced Chinese demand and delayed export licenses, leading to investor apprehension despite solid earnings. The company's future performance remains tethered to geopolitical developments and the broader semiconductor market's health.

3. Federal Reserve's Inflation Report and Market Implications

Overview:
The Producer Price Index (PPI) rose by 9.10% in July, marking the steepest increase since 2022. This has implications for the Federal Reserve's monetary policy, particularly regarding interest rate adjustments.

Key Discussions:

• Steve Liesman ([14:11]): Analyzed the data's impact on Fed decisions, mentioning, “the futures market continues to price in a strong a confident 93% probability of a September rate cut.”

• Tim Seymour ([19:15]): Predicted, “I think he [Fed Chair Powell] does cut in September and I think he cuts one more time in December.”

• Karen Feinerman ([16:49]): Questioned the significance of a 25 basis point cut, pondering, “Does a 25 really matter?”

Insights:

• Despite hotter-than-expected inflation data, the market largely anticipates rate cuts, reflecting confidence in the Fed's ability to manage economic pressures.

• The balancing act between curbing inflation and maintaining economic growth remains a central theme in Fed deliberations.

Conclusion:
Inflation pressures continue to influence expectations for Fed policy, with the market anticipating at least one rate cut in September. However, the broader economic indicators, particularly labor market dynamics, will play a crucial role in shaping future monetary decisions.

4. Berkshire Hathaway's Strategic Investments

Overview:
Berkshire Hathaway made significant investments by taking a new stake in UnitedHealth, alongside acquisitions in other sectors, signaling strategic portfolio diversification.

Key Discussions:

• Leslie Picker ([21:12]): Reported, “Berkshire Hathaway taking a new stake in UnitedHealth sending that beleaguered stock soaring in after hours trading up 8% right now.”

• Tim Seymour ([23:30]): Expressed confidence in UnitedHealth, stating, “I think this is a good [...] bet to see people getting behind them.”

• Karen Feinerman ([23:51]): Mentioned confidence in remaining long on UnitedHealth, adding, “I am still long.”

Insights:

• Berkshire's involvement in UnitedHealth, alongside stakes in steelmaker Nucor and homebuilder Dr. Horton, indicates a strategic move towards sectors with long-term growth potential.

• The investments have positively influenced market perceptions of the respective stocks, reflecting investor confidence in Berkshire's choices.

Conclusion:
Berkshire Hathaway's investments signal confidence in UnitedHealth and other key sectors, potentially driving growth and stabilizing stocks amidst broader market volatility.

5. Major Funds Divesting from Chinese Stocks

Overview:
Significant institutions like the Saudi Sovereign Wealth Fund (PIF) and Bridgewater Associates have sold their holdings in major Chinese companies, including Alibaba, Baidu, and Nio.

Key Discussions:

• Tim Seymour ([26:18]): Highlighted the trend, stating, “Bridgewater Associates sold all of its Chinese holdings.”

• Steve Grasso ([27:33]): Emphasized bullish sentiments despite sell-offs, noting, “I’m very bullish on valuation.”

• Karen Feinerman ([28:22]): Expressed understanding of continued long positions despite the sell-off, saying, “I am still long.”

Insights:

• The divestment trend reflects growing caution among global investors regarding the Chinese market amidst geopolitical tensions and regulatory uncertainties.

• Despite large funds pulling out, some analysts view the sell-offs as opportunities, believing that valuations present long-term upside potential.

Conclusion:
While major funds are retracting investments from Chinese equities, selective bullishness remains among certain analysts and investors who perceive value amidst the sell-offs. The market dynamics suggest a cautious but opportunistic approach to Chinese investments.

6. Trade Desk's Turmoil Amid Client Partnerships Shifts

Overview:
Trade Desk experienced another significant stock drop following reports that its largest client, Walmart, is no longer exclusive, coupled with increased competition from Amazon.

Key Discussions:

• Jason Helfstein ([30:09]): Maintained an outperform rating with a $70 price target, suggesting, “there's a lot more likelihood the stock will be back well over 20 after the next quarter.”

• Steve Grasso ([35:18]): Voiced skepticism about the stock's valuation, stating, “the valuation is tough and I think the uncertainty remains.”

• Tim Seymour ([35:43]): Advised caution, recommending, “if you're going to buy on a dip divided up into a couple of 20, 20% lots instead of jumping all in.”

Insights:

• The weakening exclusivity of major partnerships is raising concerns about Trade Desk's revenue stability and competitive positioning in the ad tech space.

• While some analysts remain optimistic about the company's long-term prospects, immediate investor sentiment is wary due to valuation concerns and operational uncertainties.

Conclusion:
Trade Desk faces short-term challenges from shifting client relationships and heightened competition. Although there is potential for recovery, especially post-quarter, the current environment necessitates a cautious investment approach.

7. Eli Lilly's Price Increases in the UK Amid US Policy Pressures

Overview:
Eli Lilly announced a substantial price hike for its diabetes drug, Mounjaro, in the UK. This move aligns with the Trump administration's push for Big Pharma to harmonize US drug prices with international markets.

Key Discussions:

• Dr. Kavita Patel ([36:55]): Explained, “Eli Lilly doing this isn't shocking,” and anticipated more global price adjustments.

• Steve Grasso ([37:52]): Discussed the strategic implications of the price hike in relation to US negotiations with Medicare and Medicaid.

• Dr. Patel ([39:52]): Highlighted upcoming detailed data on Mounjaro, emphasizing its clinical efficacy and potential cost benefits compared to injectable forms.

Insights:

• The price hikes are part of a broader strategy to balance global pricing structures and maintain competitiveness in key markets like the US.

• Clinical advancements and adjustments in dosing may enhance the drug's market appeal despite higher costs.

Conclusion:
Eli Lilly's pricing strategy reflects the complex interplay between global market positioning and domestic policy pressures. Future developments will hinge on detailed clinical data and further negotiations with US healthcare programs.

8. Earnings Reports: Tapestry and Deere

Overview:
Both Tapestry and Deere reported earnings that led to significant stock declines despite meeting expectations, primarily due to conservative future guidance and external economic pressures.

Key Discussions:

• Tim Seymour ([42:10]): Speculated that Tapestry's challenges are rooted in its investment in acquisition strategies, particularly the Capri takeover.

• Steve Grasso ([43:28]): Discussed Deere's conservative outlook amidst inflationary pressures, suggesting, “there’s significant inflation running through the system.”

• Karen Feinerman ([42:32]): Noted that Tapestry provided specific tariff expectations, calling it a “bad case scenario.”

Insights:

• Market reactions indicate that investors prioritize future outlooks over current performance, especially in industries sensitive to economic shifts and trade policies.

• The apparel and heavy machinery sectors are grappling with supply chain complexities and geopolitical tariffs, affecting investor confidence.

Conclusion:
Tapestry and Deere's earnings reports underscore the impact of macroeconomic factors and strategic business decisions on stock performance. While current earnings met expectations, future guidance has led to investor caution and stock price volatility.

Final Thoughts:
This episode of "Fast Money" provided a deep dive into significant market movements and strategic corporate decisions. From government involvement in tech giants and major investment shifts to challenges in the ad tech and pharmaceutical sectors, the discussions emphasized the intricate balance between geopolitical factors, economic indicators, and corporate strategies shaping today's financial landscape. Investors are advised to stay informed and approach market opportunities with a blend of optimism and caution.