Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Thursday, July 27th, and I'm your host Julie Morgan.

The Justice Department and the EPA are reportedly looking into lead-covered telecom cables.

Meta-platform surges following the release of its Q2 results,

and Yellow Corporation may file for bankruptcy

as early as this week.

Here's what's making headlines today.

The US Justice Department

and the Environmental Protection Agency are probing possible health and environmental issues from lead covered telecom cables.

According to a Wall Street Journal report late Wednesday, which cited a person familiar with the matter,

the EPA's Enforcement Office has directed AT&T and Verizon Communications to provide inspections, and environmental sampling data about

their lead cables within 10 days.

The report says this is in the early stages of the probe and it's all about whether the telecom companies knew of any

potential risks to their workers and the environment from the lead cables.

The investigations come in the wake of another report from earlier this month that said telecom operators still had lead clad cables in their networks.

According to the Wall Street Journal, AT&T faces the biggest risk with the most cable in the ground.

Verizon has said the percentage of lead-covered cables in its existing network is small.

Meta platforms is up more than 7% pre-market and spiked as much as 8.8% briefly

post-market on Wednesday. After posting second quarter earnings that easily beat expectations across the board on

financials and on user growth.

Revenues grew 11% to $32 billion, some 3% better than forecasts for $31.03 billion, and costs and expenses rose 10%.

That led operating income to a 12% gain to 9.39 billion dollars as operating margins remained flat at 29%.

...