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20:01 EST Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. TikTok is reaching out for insight about the U.S. from Elon Musk, who is both owner of a rival social-media platform and one of President-elect Trump's closest confidants, The Wall Street Journal's Juliet Chung, Raffaele Huang and Dana Mattioli report. Shou Chew, chief executive of the popular video app, initiated messages with the billionaire in recent weeks, according to people familiar with the matter. Chew, who has known Musk for several years, asked the Tesla (TSLA) CEO, who also owns the social-media platform X, his opinions on topics ranging from the incoming administration to potential tech policy, some of the people said. In meetings, Musk has weighed in on cabinet positions and joined Trump on calls with Ukraine President Volodymyr Zelensky and Alphabet (GOOGL) CEO Sundar Pichai, the publication adds. 2. President-elect Donald Trump's pick for Commerce secretary, Howard Lutnick, is in talks to deepen his financial ties with the company operating the world's largest stablecoin, Tether, by launching a $2B project to lend dollars to clients against bitcoin, according to Bloomberg's David Pan and Todd Gillespie. Cantor Fitzgerald is discussing receiving support from Tether for its planned multibillion-dollar program to lend dollars to clients who put up Bitcoin as collateral, said people familiar with the matter. 3. Google is under attack but Alphabet stock will still emerge a winner, Al Root writes in this week's edition of Barron's. This past week, the U.S. government hit Google when it put forward remedies to break Google's hold on search, which included selling its Chrome browser and monitoring data, causing the stock to fall 4.7% on Thursday. The action comes as investors were already fretting about the rise of generative artificial intelligence, the author notes. Alphabet, however, is more than up to the task of defending itself. While the future will be more complicated, generative AI has the potential to add revenue, as Gemini, Google's AI tool, ramps up and becomes more powerful. While the government's attempt to break Alphabet apart could be an overhang, it appears to be reflected in the stock, the publication adds. 4. Comcast (CMCSA) subsidiary Universal's "Wicked" won this weekend at the North American box office, coming ahead of "Gladiator II" with $114M. The movie ranks among the biggest openings of all time for a big-screen musical, and one of the top openings of 2024. "Wicked" earned an estimated $164.2M globally. 5. Pinterest (PINS) and Nvidia (NVDA) saw positive mentions in this week's edition of Barron's.
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