Trump targets pump prices
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 12 May 2026
⏱️ 5 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
Biggest stock movers Tuesday: PLUG, HIMS, and more
Silver surges to biggest gain since February; India's Modi asks citizens to pause gold buying
Nvidia’s CEO Jensen Huang reportedly left off Donald Trump’s China CEO delegation
Meta loses tussle in EU's top court over compensation to Italian publishers
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to be with you on this Tuesday, May 12th. I'm Julie Morgan. |
| 0:13.2 | President Trump told CBS News on Monday that he plans to suspend the federal gas tax for a period of time. |
| 0:22.8 | In a bid to counter rising prices at the pump as the U.S. Iran War drags on. Suspending the excise taxes of 18 cents a gallon on gasoline |
| 0:30.4 | and 24 cents a gallon on diesel requires an act of Congress. But recent efforts to suspend the gas tax have received little |
| 0:39.4 | support from legislators. Of course, this does not include state taxes on gasoline, which varies |
| 0:45.8 | and is up to each individual state. U.S. gasoline prices have jumped more than 50% since the war began |
| 0:53.2 | on the last day of February. According to AAA, as of |
| 0:57.1 | today, the national average is $4.50 a gallon. Prices almost certainly will remain high as long as Iran |
| 1:05.3 | successfully blocks access to the Strait of Hormuz. We're taking a deeper dive into this topic in the Wall |
| 1:11.6 | Street Breakfast newsletter. A link to sign up is in the show notes section. Hems and hers health |
| 1:17.9 | is down 14% in early trading after reporting Q1 financial results that missed on both lines. Gap EPS of 40 |
| 1:27.2 | cents compares to 20 cents in the year ago period. |
| 1:30.3 | Revenue of $608 million was only 4% higher than in Q1 2025. However, revenue in the U.S., which is by far the |
| 1:39.5 | company's largest market, fell 8% year over year. The online health care provider was hurt in the quarter by a 6% |
| 1:47.7 | decline in year-over-year monthly revenue per average subscriber to $80. On the positive side, |
| 1:54.9 | subscribers increased 9% year-over-year to 2.6 million. Full-year revenue is projected at $2.8 to $3 billion, |
| 2:04.0 | which is above consensus. Q2 revenue is guided at $680 to $700 million, which again is above |
| 2:11.5 | consensus. Try and fund management is seeking investor backing for a bid to take Wendy's private. |
| 2:19.6 | The Financial Times reported that Tri-in in recent weeks has held discussions with outside investors, |
| 2:25.8 | including in the Middle East, about financing a potential takeover of the U.S. fast food chain. |
| 2:31.8 | The report said Tri-in has not made a formal approach to buy Wendy's and there |
... |
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