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President Joe Biden nominated telecom attorney Anna Gomez to the Federal Communications Commission, his second attempt to fill an empty seat on the typically five-member panel that has left the agency in a 2-2 deadlock for his entire presidency thus far.

The nomination comes a couple of months after Biden’s previous nominee, Gigi Sohn, withdrew herself from consideration, following a years-long fight for confirmation. Though she was first nominated in October 2021, she faced criticism from Republicans and some senators from her own Democratic party.

The Senate Commerce Committee held multiple hearings with Sohn in an effort to assuage concerns, but it remained unclear if she would have enough support to be confirmed.

The 2-2 split between Democrats and Republicans on the FCC has meant that only actions that could gain the support of at least one Republican commissioner have been able to move forward. That’s left more contentious issues like net neutrality off the table, despite the Biden administration’s hope to restore the rules that would prohibit internet service providers from blocking or favoring certain content.

In July 2021, Biden issued an executive order that encouraged the FCC to restore net neutrality rules, which took hold while he was vice president in the Obama administration but were repealed under the Trump administration’s FCC chair.

Gomez is a senior advisor for international information and communications policy in the State Department’s Bureau of Cyberspace and Digital Policy, according to the White House. She previously served as deputy administrator for the National Telecommunications and Information Administration, an arm of the Department of Commerce that administers broadband funding and advises the president on telecom and information policy issues.

Gomez has previously worked for the FCC in several positions over 12 years, the White House said. She’s also worked in the private sector, including as a partner at the law firm Wiley Rein prior to joining the State Department in 2023. Earlier in her career, she served as vice president for federal and state government affairs for Sprint Nextel.

FCC Chair Jessica Rosenworcel said in a statement that Gomez “brings with her a wealth of telecommunications experience, a substantial record of public service, and a history of working to ensure the U.S. stays on the cutting edge of keeping us all connected.”

Gomez’s nomination also received praise from the telecom industry.

Tom Reid, chief legal officer of Comcast, which owns CNBC parent company NBCUniversal, said in a statement that Gomez’s “deep knowledge across the breadth of issues before the FCC makes her exceptionally qualified to be a Commissioner.”

Jonathan Spalter, president and CEO of USTelecom, a trade group that represents broadband providers like AT&T and Verizon, congratulated Gomez in a statement.

“I have come to know Anna over the years in her roles as an advocate in the public and private sectors, and if confirmed, I look forward to working with her and a full five-member FCC on our shared objective to connect everyone everywhere to the power and promise of broadband,” Spalter said.

Free Press, a nonprofit advocacy group that supports net neutrality, said Gomez’s nomination was long overdue.

“We’re now approaching two-and-a-half years without a fully functional Federal Communications Commission,” Free Press Co-CEO Jessica J. González said in a statement. “Never before has the American public had to wait so long for a commissioner’s seat to be filled. This senseless delay is harming millions of people, including working families trying to pay their rising monthly bills and Black, Indigenous, Latinx and rural communities that the biggest telecom companies and broadcast conglomerates have long neglected.”

González called Gomez “eminently qualified” for the role and praised the nomination of a Latinx candidate to the position.

“In addition to her corporate experience — which has often entailed working for competitive carriers instead of incumbents — Gomez has a long track record of public service, including high-ranking positions at the FCC and Commerce Department,” González said.

Biden also re-nominated two existing commissioners to the panel: Democrat Geoffrey Starks and Republican Brendan Carr. The agency cannot have more than three commissioners from one party at a given time.

A Senate vote is required to confirm the nominees.

Disclosure: Comcast owns CNBC parent company NBCUniversal.

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Tesla short sellers have made $11.5 billion from this year’s selloff

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Tesla short sellers have made .5 billion from this year's selloff

It’s been a brutal year for Tesla shareholders so far, and a hugely profitable one for short sellers, who bet on a decline in the company’s stock price.

Tesla shorts have generated $11.5 billion in mark-to-market profits in 2025, according to data from S3 Partners. The data reflected Monday’s closing price of $227.50, at which point Tesla shares were down 44% for the year.

The stock rallied about 4% on Tuesday, along with gains in the broader market, heading into Tesla’s first-quarter earnings report after the close of trading. Tesla didn’t immediately respond to a request for comment.

The electric vehicle maker is expected to report a slight decline in year-over-year revenue weeks after announcing a 13% drop in vehicle deliveries for the quarter. With CEO Elon Musk playing a central role in President Donald Trump’s administration, responsible for dramatically cutting the size and capacity of the federal government, Tesla has faced widespread protests in the U.S. and Europe, where Musk has actively supported Germany’s far-right AfD party.

Tesla shares plummeted 36% in the first quarter, their worst performance for any period since 2022, and have continued to drop in April, largely on concerns that President Trump’s sweeping tariffs on top trade partners will increase the cost of parts and materials crucial for EV production, including manufacturing equipment, automotive glass, printed circuit boards and battery cells.

The company is also struggling to keep pace with lower-cost competitors in China, and is a laggard in the robotaxi market, which is currently dominated in the U.S. by Alphabet’s Waymo. Tesla has promised to launch its first driverless ride-hailing offering in Austin, Texas, in June.

Tesla has been the biggest stock decliner among tech megacaps this year, followed by Nvidia, which was down about 28% as of Monday’s close. The chipmaker has been the second-best profit generator for short sellers, generating returns of $9.4 billion, according to S3.

Nvidia is currently the most-shorted stock in terms of value, with $24.6 billion worth sold short, S3 said. Apple is second at $22.2 billion, and Tesla is third at $17.6 billion.

Musk has a long and antagonistic history with short sellers, who have made plenty of money at times during Tesla’s 15 years on the stock market, but have also been burned badly for extended stretches.

In 2020, Tesla publicly mocked short sellers, promoting red satin shorts for sale.

“Limited edition shorts now available at Tesla.com/shortshorts” Musk wrote in a social media post in July of that year, as the stock was in the midst of a steep rally.

Two years earlier, hedge fund manager David Einhorn of Greenlight Capital posted a tweet that he received the pairs of short shorts that Musk had promised him.

“I want to thank @elonmusk for the shorts. He is a man of his word!” Einhorn wrote. Einhorn had previously disclosed that his firm’s bet against Tesla “was our second biggest loser” in the most recent quarter.

In February 2022, after reports surfaced that the Department of Justice was investigating two investors who had shorted Tesla’s stock, Musk told CNBC that he was “greatly encouraged” by the action and said “hedge funds have used short selling and complex derivatives to take advantage of small investors.”

PlainSite founder Aaron Greenspan, a former Tesla short seller and outspoken critic of Musk, sued the Tesla CEO alleging he engaged in stock price manipulation for years through a variety of schemes.

The case was removed to federal court last year. In 2023, Musk’s social network X banned Greenspan and PlainSite, which publishes legal and other public and company records, from the platform.

— CNBC’s Tom Rotunno contributed to this report.

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Instagram launches Edits app for video, rivaling TikTok

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Instagram launches Edits app for video, rivaling TikTok

Instagram Edits app.

Courtesy: Instagram

Instagram on Tuesday launched its standalone Edits video creation app that offers features similar to those already available from TikTok parent Bytedance.

The new app allows creators to organize project ideas, shoot and edit video, and access insights about content. Edits includes background replacement, automatic captioning and artificial intelligence tools that can turn images into video.

“There’s a lot going on in the world right now and no matter what happens, we think it’s our job to create the most compelling creative tools for those of you who make videos for not just Instagram but for platforms out there,” said Adam Mosseri, the head of Instagram, in a Reel posted in January announcing the app.

Edits appears to be Meta‘s answer to CapCut, TikTok’s sister app that is also owned by China-based parent company ByteDance, which allows users to create and edit video on their phone or computer.

Instagram Edits app.

Courtesy: Instagram

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With TikTok’s future uncertain, Instagram’s move to launch Edits could be seen as a step to gain ground in the next era of short video creation in the creator economy.

Earlier this month, President Donald Trump for a second time extended the deadline for ByteDance to divest TikTok’s U.S. operations or face an effective ban. The deadline is now mid-June.

Instagram Edits app.

Courtesy: Instagram

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Tesla set to report first-quarter results after the bell

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Tesla set to report first-quarter results after the bell

Tesla CEO Elon Musk wears a ‘Trump Was Right About Everything!’ hat, as he, U.S. Trade Representative Jamieson Greer and Central Intelligence Agency Director John Ratcliffe attend a cabinet meeting at the White House, in Washington, D.C., U.S., March 24, 2025. 

Carlos Barria | Reuters

Tesla is set to report first-quarter earnings on Tuesday after market close.

Here’s what Wall Street is expecting, based on a survey of analysts by LSEG:

  • Earnings per share: 39 cents
  • Revenue: $21.11 billion

Tesla is expected to report a slight revenue decline from $21.3 billion in the same quarter a year earlier. However, investors are going to be more focused on what the future holds after concerns about tariffs and CEO Elon Musk’s close ties to the White House pushed the stock price down 44% so far this year as of Monday’s close.

Earlier this month, Tesla reported a 13% decline in deliveries to 336,681. Tesla blamed the lower deliveries, in part, on the need to suspend production temporarily at its factories while it upgraded lines to start manufacturing a refreshed version of its popular Model Y electric SUVs.

Deliveries are the closest approximation of vehicle sales reported by Tesla but are not precisely defined in the company’s shareholder communications.

At an all-hands meeting with employees last month, Musk tried to reassure staffers that they were still in good hands, and to “hang onto your stock.” He pointed to the popularity of the Model Y, and Tesla’s potential in robotics, artificial intelligence and autonomous vehicle technology.

At the meeting, Musk also made light of the backlash against Tesla elicited by his work for President Donald Trump to reduce the size of the federal government, and his endorsements of Germany’s anti-immigrant AfD party, along with other political rhetoric and antics.

“If you read the news it feels like, you know, Armageddon,” Musk said on a livestream of the employees meeting. “It’s like, I can’t walk past the TV without seeing a Tesla on fire.” He followed up saying, “This is psycho, stop being psycho!”

That was before Trump’s announcement earlier this month of widespread tariffs, the one area where Musk has publicly broken with the Trump administration. On X, he called Peter Navarro, Trump’s top trade advisor and tariff proponent, a “moron” and “dumber than a sack of bricks.”

Tesla stands to take a significant hit from the president’s proposed tariffs, assuming they don’t get rolled back. Tesla manufactures cars in the U.S. for domestic sales so it’s not subject to the 25% tariff on imported autos, but the hefty levies on other components and materials could be severe.

Tesla relies on suppliers in Mexico and China for items like automotive glass, printed circuit boards and battery cells, among other parts essential for the production of its cars. The company has sought an exemption from the U.S. trade representative for equipment imported from China that it uses in its factories.

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