Squawk on the Street

Cramer says this company’s valuation may be too high. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market’s biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here:  cnbc.com/morningtake

 

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FCC Chairman Brendan Carr joins after Disney filed early license renewal applications for its broadcast stations at the agency's request. Then, Erin Brockovich discusses the environmental concerns around the data center buildout and a new map she created to help track them. Plus, we take a look at what to expect from the American Society of Clinical Oncology's annual meeting, which kicks off today.

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Dell shares surge, driven by demand for its Nvidia powered servers, plus a new government contract. It comes after the President said to “Go out and buy a Dell” last month. Then the latest test for software, the CEO of MongoDB after reporting results. And Altimeter Capital Partner Pauline Yang, leading the latest Anthropic funding round, now valued at nearly a trillion dollars.

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On the final trading day of May, Carl Quintanilla, Jim Cramer and David Faber led off the show with Dell shares soaring more than 30% on the company's blowout quarter and upbeat outlook. The anchors explored what it all means for the AI trade. They also discussed a bullish month of May and record highs for stocks, as well as the groups that have missed out on this month's rally. WTI Crude on track for its worst month in more than a year amid hopes for a U.S.-Iran peace deal. Also in focus: Chevron's CEO warns of a spike in oil prices this summer, Anthropic overtakes OpenAI on the valuation front, Elon Musk's X post about SpaceX and Anthropic, Costco and Gap fall, earnings winners and losers, Clorox CEO to step down.

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Reality TV star turned LA Mayoral Candidate Spencer Pratt joins us to discuss his policy recommendations for the city ahead of next week's primary. Then, Former CFTC Chairman Timothy Massad joins as the CFTC moves to withdraw a $5 million penalty against the crypto exchange founded by the Winklevoss twins. Plus, Waymo opened up its next generation of vehicles to select members of the public this morning. We discuss how that move fits into the company's growth strategy.

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