Alphabet (NASDAQ:GOOGL) – Google announced two new AI systems, AlphaProof and AlphaGeometry 2, which have demonstrated advances in solving complex mathematical problems, outperforming previous models. AlphaProof solved three questions from the 2024 International Mathematical Olympiad, including the most difficult one, solved by only five people out of over 600 competitors. AlphaGeometry 2 solved an additional problem, standing out in the competition. In Russia, YouTube speeds may be reduced by up to 40% this week and 70% next week as a measure to pressure the platform to restore blocked Russian channels. This action is in response to penalties YouTube faced in Russia for content violations and local policy breaches. The shares rose 0.80% pre-market.
OpenAI – OpenAI is testing SearchGPT, a new search tool providing up-to-date answers and links to sources. Initially available in a web browser for a select group, SearchGPT will also allow follow-up questions and source attributions. OpenAI plans to integrate these features into ChatGPT and is working with publishers to ensure reliable information. The new tool is still in the testing phase and aims to compete with Google and Bing by integrating search capabilities into ChatGPT. This puts pressure on Google and challenges new companies like Perplexity.
Apple (NASDAQ:AAPL) – Apple faced a 3.1% drop in iPhone shipments in China in the June quarter, while local Android competitors like Huawei grew by 11%. This decline knocked Apple out of the top 5 in the Chinese market for the first time in four years amid a weak economy and intense competition. Huawei led a significant resurgence, with a 50% increase in shipments, placing Apple sixth in the country’s sales ranking. Additionally, Epic Games announced that “Fortnite” will return to iOS devices in the European Union after a long dispute with Apple. The company also plans to make its games available on other third-party stores like AltStore and exit the Samsung Galaxy Store due to anticompetitive practices. The Epic Games Store will also arrive on Android and iOS in the EU. The shares rose 0.82% pre-market.
Meta Platforms (NASDAQ:META) – Meta Platforms will face an EU antitrust fine for linking Marketplace to Facebook, giving the classified ads service an unfair advantage. The European Commission could impose a fine of up to $13.4 billion, although it is usually smaller. The decision could come between September and October. In the US, a market traditionally dominated by Apple’s iMessage, Meta’s WhatsApp reached 100 million monthly active users, highlighted by double-digit growth in daily usage, indicating expansion. The shares rose 1.79% pre-market.
Amazon (NASDAQ:AMZN) – Amazon is poised to potentially start returning money to shareholders as its cash reserves are expected to exceed $100 billion this year. According to Bloomberg, this would put Amazon on par with other tech giants that already pay dividends or repurchase shares. While a dividend announcement is not expected immediately, the possibility could further boost its shares, which are already up this year. Additionally, a judge dismissed charges against Amazon, accused of exposing workers to hazardous conditions in its warehouses due to high productivity targets. The Washington State Department of Labor had alleged that the company did not adequately protect its employees, but the court found insufficient evidence to support these claims. The shares rose 1.18% pre-market.
Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA) – Amazon is testing its new server design with proprietary AI chips, aiming to reduce reliance on Nvidia’s expensive chips. The goal is to offer cheaper and more efficient processing for AWS customers. Amazon’s chips promise up to 50% savings compared to Nvidia’s. Nvidia’s shares rose 1.63% pre-market.
CrowdStrike (NASDAQ:CRWD) – More than 97% of Windows sensors are operational again, according to CrowdStrike CEO George Kurtz. The global outage, caused by a Falcon platform update failure, affected 8.5 million devices and halted critical services, but recovery is underway. The shares rose 1.40% pre-market.
Oracle (NYSE:ORCL) – Oracle closed a deal with Rai Way to install its AI systems in the Italian company’s data centers. This will allow Oracle’s corporate clients to access its database and disaster recovery solutions in remote locations, enhancing cybersecurity.
Nasdaq 100 Index (NASDAQI:NDX) – The decline in tech stocks is generating a record in options trading on the Nasdaq 100 Index. With the tech index down 7% since its peak in July, investors are using options to hedge their positions. The daily volume of NDX options reached a record 62,000 contracts.
Paramount Global (NASDAQ:PARA) – A Paramount Global investor sued to block the merger with Skydance Media, claiming the deal financially harms shareholders, costing them $1.65 billion. The lawsuit argues that the merger disproportionately benefits Shari Redstone and National Amusements, while other shareholders receive less.
Disney (NYSE:DIS) – The release of “Deadpool & Wolverine” this week promises to reverse the trend of saturation and fatigue in the superhero genre. This film, blending Deadpool’s irreverence with Wolverine’s charisma, is expected to achieve the biggest opening of the year in the US and Canada, with projected sales between $180 million and $200 million. This performance could be a positive signal for studios, indicating that innovative approaches and beloved character combinations can still attract large audiences. The shares rose 0.76% pre-market.
Altice USA (NYSE:ATUS) – Altice co-founder Armando Pereira will regain his passport and freedom to travel after bail conditions imposed during a corruption investigation expire. Despite this, the case remains open, and Pereira has not been formally charged. He may still be summoned for further testimony.
Grab (NASDAQ:GRAB) – Grab, a leader in transportation and food delivery in Southeast Asia, abandoned plans to buy Trans-cab, Singapore’s third-largest taxi operator. The decision came after both companies informed Singapore’s Competition and Consumer Commission that they would not proceed with the acquisition. The shares rose 0.30% pre-market.
Uber Technologies (NYSE:UBER), Lyft (NASDAQ:LYFT) – The California Supreme Court upheld a ballot measure allowing services like Uber and Lyft to classify drivers as independent contractors rather than employees. This avoids additional benefit costs, a victory for the companies and a defeat for SEIU and drivers seeking greater labor protection. Uber’s shares rose 1.54% pre-market.
General Motors (NYSE:GM) – General Motors’ Cruise unit plans to resume fully autonomous rides by early 2025 and begin charging fares in 2025. The San Francisco company is recovering from an accident involving one of its robotaxis and a pedestrian last year. The shares rose 1.07% pre-market.
Tesla (NASDAQ:TSLA) – Elon Musk announced he will discuss with Tesla’s board a possible $5 billion investment in xAI, his AI startup. This raises concerns about conflicts of interest, as Musk may use Tesla’s resources for his new company. xAI raised $6 billion in a Series B funding round in May, reaching a valuation of $24 billion. Musk plans for 25% of xAI to be owned by X investors, his social network purchased for $44 billion. Most of Musk’s followers support the investment. Additionally, SpaceX’s Falcon 9 was cleared to fly again after an FAA review confirmed that the July 11 incident did not compromise public safety. SpaceX fixed the identified issue and is ready for a launch on July 27. Tesla shares rose 1.98% pre-market.
Toyota Motor (NYSE:TM) – Toyota plans to build an electric vehicle battery factory in Fukuoka, Japan, to supply batteries to its Lexus unit. The company wants to use Kyushu as a hub for its supply chain and exports to Asia. The value and timeline of the construction have not been disclosed.
Ford Motor (NYSE:F) – Ford lost $1.1 billion in the electric vehicle sector, worsening its profit and leading to an 18.4% drop in shares on Thursday. The loss was attributed to high warranty costs and challenges with new products. The company faces investor doubts about its EV strategy and financial returns. The shares rose 1.08% pre-market.
Latam Airlines Group SA (NYSE:LTM) – American depositary shares (ADS) of Latam Airlines rose 2.9% after a group of shareholders raised $456 million by selling 19 million ADS at $24 each. Latam Airlines shares closed at $24.70 on Thursday in New York. Each ADS represents 2,000 shares of Latam, which is returning to the US market after being delisted from the NYSE in 2020.
Southwest Airlines (NYSE:LUV) – Southwest Airlines announced significant changes, including the end of open seating and the introduction of designated and premium seats with more comfort. These changes aim to improve financial results affected by aircraft delivery delays and excess capacity.
United Airlines (NASDAQ:UAL) – The US Department of Labor is investigating whether United Airlines’ new policy requiring medical certificates from flight attendants reporting sick on weekends violates federal regulations. United justifies the measure due to increased absences, while the union criticizes it as restrictive.
Boeing (NYSE:BA) – NASA and Boeing face uncertainties in setting a return date for the Starliner space taxi, currently at the International Space Station. Astronauts Barry Wilmore and Sunita Williams, who were supposed to stay only a week, have been there for almost two months due to technical problems. Still without a defined date, the mission is being thoroughly analyzed to ensure a safe return. The shares rose 0.46% pre-market.
Embraer (NYSE:ERJ) – Embraer inaugurated a Pratt & Whitney engine maintenance center in Portugal, expecting to generate €600 million in annual revenue. The facility responds to growing demand for air maintenance and frequent engine repairs exacerbated by post-pandemic supply chain challenges.
JPMorgan Chase (NYSE:JPM) – JPMorgan Chase launched an AI product called LLM Suite, which can perform research analyst functions. This system helps asset and wealth management employees write texts, generate ideas, and summarize documents. Currently, about 50,000 employees have access to this tool.
Bank of America (NYSE:BAC) – By mid-year, Bank of America’s corporate clients executed a record $500 billion in transactions through the CashPro app, marking a nearly 40% increase from the same period in 2023. The total volume of payments through the app is expected to surpass $1 trillion in 2024, after reaching $802 billion last year. The shares rose 0.60% pre-market.
Goldman Sachs (NYSE:GS) – Goldman Sachs stated that the next US president will have little impact on increasing domestic oil supply next year due to low strategic stocks and regulatory limitations. Oil prices rose slightly after positive US economic data, with prices forecast to range between $75 and $90 per barrel in 2025.
Morgan Stanley (NYSE:MS) – Morgan Stanley said computer-driven macro hedge funds sold $20 billion in shares on Wednesday, with additional losses of $25 billion expected next week. This followed a sharp drop in shares, one of the largest divestment events of the past decade.
NatWest Group (NYSE:NWG) – Metro Bank is selling its residential mortgage portfolio to NatWest for up to £2.4 billion ($3.1 billion). The transaction will reduce Metro’s risk-weighted assets by £824 million and improve its CET1 ratio by five basis points. The bank will face a £105 million loss from the sale, part of its strategy to strengthen the balance sheet and increase risk-adjusted returns. NatWest shares rose 6.80% pre-market.
Barclays (NYSE:BCS), NatWest (NYSE:NWG), Lloyds (NYSE:LYG) – Seven banks, including Barclays, NatWest, and Lloyds, share customer data with the UK’s National Crime Agency to combat money laundering and financial crimes. This project, the largest of its kind, aims to identify criminal networks exploiting the British financial system. Lloyds’ shares fell 0.33% pre-market.
Charles Schwab (NYSE:SCHW) – Charles Schwab announced that Michael Verdeschi will be the new chief financial officer starting October 1. Verdeschi, who joined the company in May, will replace Peter Crawford, who will retire after 20 years in the role. The shares rose 1.06% pre-market.
KKR & Co (NYSE:KKR), Instructure Holdings (NYSE:INST) – KKR will buy Instructure Holdings for $4.8 billion, marking a potential return of private equity activity after a lull due to high interest rates. The offer of $23.60 per share is 16% higher than the previous price and follows Bain Capital’s acquisition of PowerSchool. KKR shares rose 1.11% pre-market.
Apollo Global Management (NYSE:APO) – Apollo acquired Evri Ltd from Advent International, capitalizing on the e-commerce boom. The deal, estimated by Sky News at around £2.7 billion, follows similar purchases in the sector, including Daniel Kretinsky’s acquisition of a stake in Royal Mail. Advent, which bought Evri (formerly Hermes UK) in 2020, claims the company has grown significantly under its management. The sale is expected to be finalized in the third quarter of this year.
Coinbase (NASDAQ:COIN) – Coinbase added three new directors to its board, including an OpenAI executive, to bolster its influence in US cryptocurrency policy. Chris Lehane, Paul Clement, and Christa Davies will help shape digital rules and strengthen the company’s political position. The shares rose 3.99% pre-market.
Lineage (NASDAQ:LINE) – Lineage shares rose 3.6% in their stock market debut after raising $4.4 billion in the year’s largest IPO. The logistics and temperature-controlled storage company saw its shares close at $80.78, above the initial price of $78. Founded by former Morgan Stanley bankers, the company reached a market valuation of nearly $20 billion. Specializing in logistics and temperature-controlled storage, Lineage operates more than 400 facilities globally. The shares fell 0.37% pre-market.
Rio Tinto (NYSE:RIO) – Twelve companies, including Rio Tinto and BYD, submitted proposals to extract lithium in the Altoandinos salt flats in Chile. The Chilean government, in partnership with state miner ENAMI, aims to increase lithium production and has started selecting partners for new projects in the region. Rio Tinto shares rose 1.74% pre-market.
Valero Energy (NYSE:VLO) – Valero Energy Corp plans to operate its 14 refineries at up to 92% of their total capacity of 3.2 million barrels per day in the third quarter of 2024. Specifically, US Gulf Coast refineries should operate between 95% and 98% of their 1.8 million barrels per day capacity. During a conference call, it was mentioned that this projection includes time for planned maintenance, especially at North Atlantic refineries.
Walmart (NYSE:WMT) – Walmart Canada announced a $53 million investment to increase wages for about 40,000 store employees, in an effort to retain more workers. This move reflects Walmart’s similar strategy in the US to improve wages and benefits for its employees.
Kroger (NYSE:KR), Albertsons (NYSE:ACI) – The $25 billion merger between Kroger and Albertsons is on hold until a court decision in Colorado, scheduled to begin on September 30. The state alleges the deal could reduce competition, raise food prices, and impact jobs and options for consumers. Albertsons shares fell 0.59% pre-market.
Lululemon Athletica (NASDAQ:LULU) – Lululemon Athletica shares hit a four-year low on Thursday, due to doubts about its ability to meet financial targets. This is due to product execution failures and a general slowdown in the sportswear market. The situation worsened with the suspension of sales of a new product line, affecting investor confidence and leading to analyst downgrades. The shares rose 0.68% pre-market.
WW International (NASDAQ:WW) – The chief medical officer of WW International’s, known as Weight Watchers, resigned after less than a year in the position. The company, which is expanding its services to include prescription weight-loss medications, thanked Amy Meister for her contribution. This change comes as WeightWatchers faces significant market challenges due to the growing popularity of pharmaceutical treatments for obesity. The shares fell 8.33% pre-market.
Walgreens (NASDAQ:WBA) – JPMorgan Chase is evaluating the sale of Walgreens’ high-yield bonds to address short-term debt maturities following the company’s downgrade. A yield of around 7.5% is expected. Walgreens faces high refinancing costs and has already lowered its forecasts and dividends due to financial and operational challenges. The shares rose 0.35% pre-market.
Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson failed to revive a plan using its subsidiary’s bankruptcy, LTL Management, to resolve thousands of lawsuits alleging that its talcum powder products caused cancer. An appeals court upheld the previous decision dismissing the bankruptcy, stating that J&J did not demonstrate insolvency or severe financial hardship to justify such a measure. The company intends to appeal to the US Supreme Court. The shares fell 0.11% pre-market.