The Investment Committee debate Tesla and Elon Musk's $1 Trillion Pay Package. They also hit some other Committee stocks on the move.

New York

Tesla is holding its annual shareholder meeting, where a key agenda item is the vote on CEO Elon Musk's proposed $1 trillion pay package. The package, which spans ten years, requires Tesla to reach an $8.5 trillion market cap, significantly above its current valuation. Betting markets expect the proposal to pass, which could allow the company to shift focus back to its core business operations.

The meeting takes place as Tesla shares fall more than 4 percent. The report also highlights strong performance from Datadog, a weak outlook and CEO exit at CarMax, and steady but underperforming results from Costco, which has managed inflation well but remains flat for the year.

Tesla annual meeting on deck: Here's what to expect

Let's get to some stocks that are on the move. We're watching Tesla the company holding its shareholder meeting this afternoon at stake today as shareholders will vote to approve Elon Musk's one trillion dollar pay package potential pay package. Got to say that Tesla shares pulling back more than 4 percent. Bryn you own this one. Your view on the vote the pay package everything else. Well I think this is where the retail investor has been just very influential in voicing their their support of management. And I think with the Sawyer merit who talked about Schwab putting a lot of pressure on big companies that actually have more meaningful exposure to say hey this is a this is a good package of it with management. So it seems the betting market says this is going to clear. I think it's a very positive clearing event. And I mean we've talked about it a bunch. But once again for him to get this it's a 10 year deal. Just like basic basic simple simple. One one thing that has to happen. The stock has to have an eight and a half trillion dollar market cap. So it's at what 1.3 right now. So there's so many different levers. I think it will pass. It'll be a good clearing event. And we can get back to the to the to the business of actually the business of Tesla versus this this proxy vote. All right. That meeting starts at 4 p.m. Eastern time. Want to turn to data dog giving some strength some very strong outlook Joe stocks moving higher right now. Your view. Billings up 30 percent revenue up 28 percent. Cloud based monitoring. They have an agreement with open AI. They have a relationship with AWS. Obviously you're being rewarded here if you're long. If you are long I'd use a 165 stop. Otherwise on a day when it's up 20 percent I don't think you want to chase it. There you go. Going to move on to CarMax lower on a weak outlook. Also the CEO exiting Jenny on this one. Yeah. So actually we just sold it like just you know a few minutes ago. It's all gone. We sold it at 35 during the show. They sold it in the office. I don't know if it was at like 1130 or noon or whenever but it was just sold. So we sold it at 35 20. The investment thesis is broken. And what we're worried about here which goes back to me saying over and over I am worried about the consumer. So once you disaggregate the lower end consumer buys used cars and that we don't think they're saying that the November quarter should be down 8 to 12 percent. We don't think the used car market is probably that weak which makes us think that they're pulling back on financing because they're having problems with loans. We've all seen the auto loan delinquencies are increasing especially with the lower end consumer. So we're worried here. We think there's problems that we can't even begin to figure out at this point and sold the stock. All right. One more. We got Costco maintained it outperform over at Telsey. Jason you on this one. Yeah. Costco has been a tough story. Obviously this year's trading hasn't traded well. It's flat for the year. Operating income in the in the last quarter was up almost 20 percent. You know membership rate renewal rates around 90 percent. EPS was around up around 11 percent. What I always say to about cost they've managed it. They've managed inflationary costs well. And I think you know as it relates to their private label brand Kirkland it's an 80 billion dollar business which is almost a double to Coca-Cola. Forty seven billion dollars in revenue for the entire company. So they've they've they've done a great job. New CFO there. But it's just the market doesn't like it so far this year. Great year last year. She's a Costco pulling back about 2 percent right now.

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Moscow

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Washington

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Manila

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Louisville

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Visayas

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Lima

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Al Fashir

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Pokrovsk

Ukraine Invasion

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Jerusalem

Middle East Conflict

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Michoacán

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Mazar-i-Sharif

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Los Angeles

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London

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Tel Aviv-Yafo

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Breakdown