Amazon

$AMZN

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Traded amid mixed consumer stocks; its Whole Foods unit lost a US labor board appeal over a Philadelphia store unionization vote.

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Wire59d ago

Meta Platforms Likely to Beat Q2 Estimates on Ad Growth, AI Benefits, BofA Says

Meta Platforms (META) is expected to report Q2 revenue and earnings above Wall Street estimates, supported by healthy advertising growth, "workforce reduction" and benefits from artificial intelligence model integration, BofA Securities said in a report Monday.The firm expects revenue of $60.6 billion and earnings per share of $7.50 per share, compared with consensus estimates of $60.2 billion and $7.18, respectively. Meta's "10% workforce reduction in May" and a 49% quarterly decline in job postings could provide additional earnings upside, the report said.For Q3, the firm forecasts revenue of $63.5 billion and earnings of $7.22 per share and expects Meta to issue revenue guidance of $60.5 billion to $63.5 billion. The company could also lower the "high end" of its expense outlook by $1 billion to $2 billion, though rising "memory costs" may push its capital spending forecast to $135 billion to $150 billion, according to the report.Following reports of a potential "compute deal" with Amazon.com-backed (AMZN) Anthropic, the firm integrated an additional $5 billion in projected 2027 revenue into its valuation model. As a result, the firm raised its total 2027 revenue expectation by 1% to $316 billion and lifted projected EPS to $35. An additional $11 billion in AI capacity revenues was added to 2028 estimates, according to the report.BofA reiterated its buy rating and $835 price target on Meta Platforms.Price: $646.82, Change: $+0.81, Percent Change: +0.12%

$AMZN$META

Wire62d ago

Amazon's Zoox Reportedly Pulls Robotaxi Software Over Smoke-Detection Failure

Amazon.com's (AMZN) Zoox recalled software in 105 of its robotaxis after the company determined one vehicle failed to detect heavy smoke and entered an emergency fire scene, multiple news outlets reported Friday.Zoox told the National Highway Traffic Safety Administration on July 8 that it identified the issue after a June 20 incident in Las Vegas, when an unoccupied robotaxi drove into smoke that obscured an active fire response before braking sharply and stopping, CNBC reported.The safety administration said in a letter to autonomous vehicle companies that multiple instances of robotaxis driving into active emergency scenes have been documented, Reuters reported.Vehicles "blocked the paths of ambulances and firefighters, or failed to recognize and respond to basic safety conditions like flashing lights, flares, smoke, fire, and traffic cones," Jonathan Morrison, the agency's administrator, said in a July 8 letter.Price: $247.69, Change: $-2.20, Percent Change: -0.88%

$AMZN

US Markets63d ago

Update: Wall Street Snaps Two-Day Advance as Chip-Related Stocks Slump

(Updates with closing levels throughout the story.)Wall Street's stock indexes fell Thursday after a two-day advance, dragged down by a sell-off in chip-related stocks and certain mega-cap technology stocks.The tech-heavy Nasdaq Composite shed 1.5% to close at 25,881.95, while the S&P 500 dropped 0.5% to 7,533.77. The Dow Jones Industrial Average lost 0.2% to settle at 52,552.97.Most sectors were in the green, led by consumer staples, while communication services saw the biggest drop, followed by technology.Semiconductor company Sandisk (SNDK) was the worst performer on the S&P 500, down nearly 12%. Nvidia (NVDA) fell 2.4%, among the notable laggards on the Dow.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares fell 2.3% after the semiconductor manufacturer reported its second-quarter results. The company earmarked an additional $100 billion to increase its chipmaking capacity in the US, Bloomberg News reported, citing a US official.Alphabet's (GOOGL) Class A shares slumped 4.4%, the second-worst performer on the Dow. Amazon.com (AMZN) also fell.In other corporate news, Abbott Laboratories (ABT) shares jumped nearly 11%, the biggest gainer on the S&P 500. The healthcare company lifted its full-year earnings outlook after reporting second-quarter results above market estimates.UnitedHealth (UNH) raised its full-year earnings guidance, as the health insurance giant recorded an unexpected year-over-year increase in its second-quarter revenue. The company's shares rose 1.2%.West Texas Intermediate crude oil was down 0.7% at $79.05 a barrel in Thursday late-afternoon trade, while Brent dropped 0.6% to $84.31."Oil prices slipped as traders assessed tensions between the (US) and Iran and the risks to oil supplies moving through the Strait of Hormuz," D.A. Davidson said in a note.Iran vowed to destroy key Middle East infrastructure if US President Donald Trump carries out his threat to hit Iranian infrastructure in the absence of a deal between the two countries, an Iranian military spokesperson reportedly said. Trump issued his warning in a recent interview with Fox News, CNBC reported.US Treasury yields were higher intraday, with the two-year rate up 2.3 basis points at 4.15% and the 10-year rate rising 1.4 basis points to 4.56%.Dallas Fed President Lorie Logan on Thursday pushed for "modestly higher" interest rates as she, along with her Kansas City counterpart Jeffrey Schmid, downplayed soft inflation data this week and flagged persistent price pressures.In economic news, US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed.Pending home sales decreased more than projected in June amid high mortgage rates and prices, data from the National Association of Realtors showed.Homebuilder confidence deteriorated in July amid growing material prices, high land costs and elevated mortgage rates, the National Association of Home Builders and Wells Fargo said.Gold was down 1.7% at $3,983.20 per troy ounce, while silver lost 2.8% to $55.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABT$AMZN$GOOGL$NVDA$SNDK$TSM$UNH

US Markets63d ago

Alphabet Set for Solid Quarterly Results on Cloud Strength, BofA Says

Alphabet (GOOG, GOOGL) is likely to deliver strong second-quarter results amid strength in its cloud business, while the technology giant could raise its capital expenditure outlook, BofA Securities said Thursday.The Google parent is scheduled to report June quarter results Wednesday.BofA projects cloud revenue growth of 70% and search to jump 17% on an annual basis, while Wall Street is looking for gains of 65% and 17%, respectively, the brokerage said in a note to clients Thursday."For cloud, Google has been accelerating capacity expansion to meet strong demand, and we think revenues will reflect strong capacity growth," BofA analyst Justin Post said. "We view Google's recent capital raise, news on Google limiting capacity to certain clients, and Amazon (AMZN) cloud price increase as a positive signal for cloud demand and continue to see upside to Street estimates."Given higher prices of memory and other components, Alphabet could increase its 2026 capex outlook range by 5% to $190 billion to $200 billion, according to the note."Alphabet is investing in compute capacity to support significant cloud customer demand, frontier model development, improve the user experience, and drive higher advertiser (return on investment)," Post wrote.For the search business, third-party data and checks indicate strength in retail for the second quarter, offset "somewhat" by travel and consumer packaged goods, BofA said.The brokerage reiterated its buy rating on the Alphabet stock, with a $430 price objective."We think Alphabet remains well positioned to drive outsized advertising and cloud growth given favorable positioning across foundational models, custom silicon, consumer distribution, and enterprise distribution," Post said. "As both consumer and enterprise adoption of (artificial intelligence) services increases, especially for cloud, it could support more durable revenue growth (less cyclical) and a higher valuation."Price: $371.32, Change: $+0.40, Percent Change: +0.11%

$AMZN$GOOG$GOOGL

US Markets64d ago

Update: Wall Street Extends Gains on Further Signs of Cooling Inflation

(Updates with market moves at the end of the day.)US equities rose Wednesday, driving major indexes higher for a second straight day as traders digested another softer-than-expected inflation report.The Nasdaq Composite closed 0.6% higher at 26,269.2, while the S&P 500 advanced 0.4% to 7,572.4. The Dow Jones Industrial Average added 0.3% to settle at 52,658.6. Among sectors, communication services saw the biggest gain, while utilities led the laggards.Technology giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible acquisitions of chip companies, The Information reported, citing unnamed sources.Other tech majors also advanced, with Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) following Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.Inflation is more likely to accelerate than cool given price pressures arising from an artificial intelligence boom and major supply shocks, Federal Reserve Governor Lisa Cook said. Separately, New York Fed President John Williams said that inflation should ease in the next few quarters as energy prices retreat.West Texas Intermediate crude oil was up 1.2% at $80.29 a barrel in Wednesday late-afternoon trade, while Brent rose 1.3% to $85.80.The US military conducted fresh strikes on Iran on Wednesday as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, the US Central Command said.US Treasury yields were lower, with the two-year rate down 5.2 basis points at 4.14% and the 10-year rate falling 3.2 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 17%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.2% to $4,060.80 per troy ounce, while silver lost 1.6% to $58.17 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL

US Markets64d ago

Equity Markets Rise Intraday as Big Tech Gains

US benchmark equity indexes were higher intraday, aided by certain mega-cap technology stocks, as traders parsed the latest inflation data.The Nasdaq Composite was up 0.5% at 26,246.1 after midday Wednesday, while the S&P 500 advanced 0.3% to 7,568.2. The Dow Jones Industrial Average rose 0.2% to 52,620.4. Among sectors, communication services saw the biggest gain, while energy led the laggards.Tech giant Apple (AAPL) was the best performer on the Dow, up 4%. The iPhone maker has held talks with bankers in recent months about possible deals for chip companies, The Information reported, citing unnamed sources.Other tech majors Alphabet's (GOOGL) class A shares, Amazon.com (AMZN), and Microsoft (MSFT) followed Apple on the Dow as the top performers.In economic news, US producer prices unexpectedly dropped on a monthly basis in June amid a steep decline in the cost of energy products, official data showed."We expect to see another weak reading for the July (producer prices index), even though global oil prices have moved higher in the past week," Oxford Economics said in a note.On Tuesday, government data showed that US consumer prices decreased last month for the first time in more than six years amid lower energy costs."While still nominally elevated at a dangerously high level, the relative improvement in inflation in June emboldens the more dovish argument that price pressures are already cooling and could retreat further into year-end as the lingering impact from tariffs falls off and energy prices potentially normalize amid -- still tentative -- but ongoing, US-Iran peace negotiations," Stifel said in a note Wednesday.The probability that the Fed will leave its benchmark lending rate unchanged later this month rose to nearly 90% Wednesday from 84% Tuesday, according to the CME FedWatch tool.Inflation should ease in the next few quarters as energy prices are expected to trend back closer to where they were before the US-Iran war began, New York Fed President John Williams said.West Texas Intermediate crude oil was down 0.4% at $78.99 a barrel intraday, while Brent dropped 0.3% to $84.45.The US military conducted fresh strikes on Iran for 90 minutes, as tensions flare over the Strait of Hormuz, the world's most important chokepoint for crude flows, CNN reported Wednesday, citing the US Central Command.US Treasury yields were lower intraday, with the two-year rate down 6.1 basis points at 4.13% and the 10-year rate falling 3.8 basis points to 4.55%.In other company news, PayPal (PYPL) shares jumped 16%, the top gainer on the S&P 500, after Reuters reported that Stripe and Advent International have offered to acquire PayPal in a deal that would value the payments giant at more than $53 billion.Pentair (PNR) shares slid 15%, the worst performer on the S&P 500. The water treatment company late Tuesday reported preliminary second-quarter results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Gold edged down 0.7% to $4,042.70 per troy ounce, while silver lost 3.2% to $57.22 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOGL$MSFT$PNR$PYPL

Wire64d ago

Amazon Leo, Herotel to Launch Satellite Internet Service in South Africa in 2027

Amazon.com (AMZN) said its satellite broadband network, Amazon Leo, agreed with Herotel, a South African internet service provider, to launch a satellite service called evry in 2027 for households, small businesses and rural areas.Herotel serves more than 350,000 customers across 550 towns through fiber and fixed wireless networks, and its existing infrastructure will support evry, Amazon said Wednesday in a statement."The agreement addresses a persistent challenge: millions of South Africans living on farms, in small towns, and in rural communities still lack reliable internet because distance, terrain, and low population density make traditional infrastructure impractical and costly," the statement said.Financial details weren't disclosed.Price: $254.87, Change: $+7.38, Percent Change: +2.98%

$AMZN

Wire64d ago

Market Chatter: Anthropic Plans to Hold Investor Meetings Before Potential IPO

Amazon.com-backed (AMZN) Anthropic plans to meet with investors as its potential initial public offering looms Bloomberg reported Wednesday, citing people familiar with the matter.Anthropic is working with Morgan Stanley (MS), Goldman Sachs Group (GS) and JPMorgan Chase (JPM) on the IPO, and the banks are scheduling investor meetings in the coming weeks, the report said.The IPO may be as early as October, the report said.Anthropic and the banks did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $254.94, Change: $+7.44, Percent Change: +3.01%

$AMZN

Mining & Metals64d ago

Electrovaya Shares Surge After Securing Amazon Deal for Infinity Battery Technology

Electrovaya (ELVA.TO) is partnering with Amazon (AMZN) for the use of its infinity battery technology in Amazon's material handling operations. Its stock surged in early trading in Toronto and New York on Wednesday.The agreement could potentially expand to include robotics and energy storage, the battery manufacturer said.Amazon will receive warrants to purchase up to 13.9 million shares of Electrovaya, which become fully vested upon Amazon achieving cumulative future purchases of $280 million. A portion of the warrants vest immediately when the agreement is executed.Electrovaya's energy storage systems are based on the infinity technology which has a perfect field safety record, enables reduced environmental footprint and lower total cost of ownership compared with conventional lithium-ion technologies, the company said.Toronto-listed shares jumped 38% shortly after the opening bell to trade at C$15.18. On the Nasdaq they were also up 39% to almost $11 at last look.Price: $16.21, Change: $+5.15, Percent Change: +46.56%

$AMZN$ELVA.TO

Wire65d ago

Anthropic Introduces Claude for K-12 Teachers

Amazon.com-backed (AMZN) Anthropic said Tuesday K-12 educators in the US will get free access to premium Claude features, a library of teaching skills and connection to evidence-based curricula, aligned with state standards.Claude for Teachers connects to Learning Commons, giving Claude access to academic standards across all 50 states, the firm said.Price: $245.97, Change: $-1.34, Percent Change: -0.54%

$AMZN

US Markets69d ago

Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says

Take-Two Interactive Software's (TTWO) "Grand Theft Auto VI" pre-order tracking suggests "robust" demand for the highly anticipated video game ahead of its commercial launch in November, B. Riley Securities said Friday.Two-week tracking of digital storefronts and retail websites showed GTA VI was the top-selling item across all monitored platforms last month, when pre-orders started, and among the top-ranked items in early July, according to the brokerage. The tracking covered Sony's (SONY) PlayStation Store, Microsoft's (MSFT) Xbox Live, Amazon.com (AMZN), Walmart (WMT), Best Buy (BBY), and GameStop (GME)."While this analysis was qualitative in nature, we believe findings suggest robust demand for the game," B. Riley Managing Director Drew Crum said in a note to clients. The analysis supports the brokerage's "positive fundamental outlook" for Take-Two's shares, according to Crum.B. Riley maintained its buy rating on the video game publisher's stock with a $300 price target.The company's shares were down 1% in Friday afternoon trade, bringing its year-to-date losses to 4.8%.The Ultimate Edition of the game, which is priced at $99.99, was the most popular version on PlayStation Store and Xbox Live, according to B. Riley."Pre-orders were heavily weighted to PS5 (stock keeping units), which is not surprising given Sony's console system has outsold Xbox Series X/S by more than 3-to-1 (by our estimation) during the current hardware cycle," Crum said. "We forecast GTA VI full game net bookings at $2.5 billion (37M units x $68 ASP), which spans (over four) months."Take-Two could provide updates on pre-order performance for the game with its latest quarterly financial results next month, potentially providing a lift for the company's stock, Crum said.B. Riley expects net bookings of $1.35 billion for the quarter, which it said is below Wall Street's estimate of $1.40 billion. The brokerage's non-GAAP earnings forecast of $0.34 a share exceeds consensus of $0.33, according to the note.Price: $243.89, Change: $-2.21, Percent Change: -0.90%

$AMZN$BBY$GME$MSFT$SONY$TTWO$WMT

Sectors69d ago

Sector Update: Consumer Stocks Edge Higher Pre-Bell Friday

Consumer stocks were edging higher pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.1%.AutoZone (AZO) stock was up more than 1% after the company said it agreed to issue $850 million of 4.95% notes due July 15, 2031 and that the underwriting group will buy the debt securities at about 99.31% of the principal amount.JD.com (JD) unit JD Property-backed group is preparing to confidentially file for an initial public offering of a real estate investment trust in Singapore, Bloomberg reported, citing people familiar with the matter. Shares of JD.com were up more than 1% premarket.Amazon.com (AMZN) closed the sale of eight tranches of debt worth $24.92 billion, the company said. Amazon.com stock was 0.6% higher pre-bell.

$AMZN$AZO$JD$XLP$XLY

Wire70d ago

Former Fed Chair Ben Bernanke Joins Anthropic's Long-Term Benefit Trust

Amazon.com-backed (AMZN) Anthropic said Thursday that its Long-Term Benefit Trust has appointed Ben Bernanke, former chair of the Federal Reserve, as a member.Bernanke will provide his expertise to Anthropic's economic research, as well as other areas of work, the company said.The LTBT provides a check on how Anthropic develops and deploys artificial intelligence, according to a statement.Price: $243.91, Change: $+0.29, Percent Change: +0.12%

$AMZN

Sectors71d ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.3%.The Philadelphia Semiconductor index climbed 2.2%.In sector news, Jeff Bezos' Blue Origin is raising about $10 billion in its first external funding round, valuing the rocket company at about $130 billion, news outlets reported. The reports said Bezos is expected to invest $2 billion, while Coatue Management plans to contribute about $4 billion. The remaining $4 billion has attracted strong investor demand and is expected to come from several major investors, CNBC reported.In corporate news, Alibaba (BABA), ByteDance, and DeepSeek may receive permission from China to buy a limited volume of Nvidia (NVDA) H200 chips to offset a shortage due to increasing demand for AI chips, The Information reported. Nvidia shares rose 3.8%.Apple (AAPL) said Wednesday Broadcom (AVGO) will produce chips to be used in Apple's products in a deal likely worth more than $30 billion. Apple shares rose 1.1%, and Broadcom jumped 5.5%.Zillow (Z) and Rocket's (RKT) Redfin are headed to trial in August in the Federal Trade Commission's challenge to their apartment-listing partnership after the US District Court for the Eastern District of Virginia declined the government's request for an early ruling, Bloomberg reported. Zillow shares fell 1.9%, and Rocket shed 3.3%.Amazon.com-backed (AMZN) Anthropic's Claude Code was flagged by China's National Vulnerability Database over an alleged security "backdoor" risk in versions 2.1.91 through 2.1.196, Reuters reported. The agency advised users to uninstall the affected versions or upgrade to the latest release and urged organizations to strengthen network monitoring to help prevent unauthorized data transfers, the report said. Amazon shares were down 1.4%.

$AAPL$AMZN$AVGO$NVDA$RKT$Z

Sectors71d ago

Sector Update: Tech Stocks Rise Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.6%.The Philadelphia Semiconductor index climbed up 2.5%.In sector news, Jeff Bezos' Blue Origin is raising about $10 billion in its first external funding round, valuing the rocket company at about $130 billion, news outlets reported. The reports said Bezos is expected to invest $2 billion, while Coatue Management plans to contribute about $4 billion. The remaining $4 billion has attracted strong investor demand and is expected to come from several major investors, CNBC reported.In corporate news, Apple (AAPL) said Wednesday Broadcom (AVGO) will produce chips to be used in Apple's products in a deal likely worth more than $30 billion. Apple shares rose 1.1%, and Broadcom jumped 6%.Amazon.com-backed (AMZN) Anthropic's Claude Code was flagged by China's National Vulnerability Database over an alleged security "backdoor" risk in versions 2.1.91 through 2.1.196, Reuters reported. The agency advised users to uninstall the affected versions or upgrade to the latest release and urged organizations to strengthen network monitoring to help prevent unauthorized data transfers, the report said. Amazon shares were down 1.4%.Microsoft (MSFT)-backed OpenAI will launch its latest GPT-5.6 AI model on Thursday, the company said in a post on X late Tuesday. Microsoft shares were shedding 1.7%.

$AAPL$AMZN$AVGO$MSFT

Wire71d ago

Warner Bros, Amazon AWS Develop Advertising Experiences Built on Agentic AI

Warner Bros. Discovery (WBD) and Amazon (AMZN) Web Services said Wednesday they are developing advertising experiences using AWS agentic AI.Warner Bros. is expanding its advertising technology stack on AWS and deploying agentic AI to plan, activate, optimize and monetize premium inventory across its US linear and digital channels, according to the statement.The new agentic AI-led platform streamlines the ad buying process for Warner Bros. inventory, allowing advertisers to more effectively allocate budgets across multiple platforms and brands, the statement added.Price: $26.28, Change: $+0.15, Percent Change: +0.59%

$AMZN$WBD

Wire71d ago

Update: US Equity Indexes Retreat as Chipmakers Hit Technology While Crude Oil Jumps Following Hormuz Missile Strike

(Updates with index/price moves and company/political news)US equity indexes declined as chipmakers helped push technology lower, while a missile strike on a Qatari vessel sent crude oil higher.The Nasdaq Composite fell 0.6% to 25,972.1, the S&P 500 fell 0.2% to 7,519.8, and the Dow Jones Industrial Average retreated 0.4% to 52,869.1 after midday Tuesday. The technology sector led decliners, followed by industrials and materials. In addition to energy, the top gainer, other sectors in the lead included real estate, healthcare, and utilities.Among stocks with market capitalization exceeding $200 billion each, 14 out of the bottom 20 names were technology firms, according to data compiled by Finviz. More than half of the decliners were semiconductor firms. The worst performer was Intel (INTC), down 9.2%, after Samsung Electronics' preliminary earnings disappointed investors.Shares of Space Exploration Technologies (SPCX) slumped 5.3% after the company was added to the Nasdaq 100 on Tuesday.In geopolitical news, Iran's Revolutionary Guard Corps fired missiles at vessels in the Strait of Hormuz, striking a liquefied natural gas carrier, according to media reports.The front-month global benchmark North Sea Brent jumped 3% to $74.17 a barrel, and the US West Texas Intermediate advanced 2.8% to $70.48 a barrel."Oil prices and especially LNG rose after a Qatari LNG ship was struck by a projectile near the Omani coast as it exited the Strait of Hormuz, raising unease among shipowners while once again testing a US-Iran agreement intended to halt attacks and keep the narrow strait open," Saxo Bank said in a note.France and Britain will outline plans for a multinational maritime mission in the Strait of Hormuz at talks between NATO and Gulf Arab foreign ministers on Tuesday, Reuters reported, adding that diplomats noted Iran's rejection of the initiative makes it unlikely to break the deadlock over the critical waterway in the Persian Gulf.In economic news, consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. The print is the highest since September 2023. Median inflation expectations rose to 3.3% from 3.1% three years ahead, and remained unchanged at 3.0% over five years.The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey. Imports rose in the month, while exports fell.Consumer confidence for July rose from the prior month, with the RealClearMarkets' monthly index rising to 45.5 from 42.5 in June. A print above 50 suggests optimism, while a reading below 50 suggests pessimism.Redbook US same-store sales surged almost 12% from a year earlier in the week ended July 4 after a year-over-year increase of nearly 1% in the previous week. "Significant nationwide temperature increases, combined with Independence Day promotions, led to increased demand for summer merchandise and brought more shoppers into air-conditioned stores," Redbook noted.Most US Treasury yields rose. The two-year yield climbed 2.4 basis points to $4.15%, and the 10-year jumped 4.4 basis points to 4.52%.Gold futures slipped 0.4% to $4,152.8, and silver futures dropped 1.7% to $61.26.In company news, Amazon (AMZN) is seeking to raise at least $25 billion from a sale of US-dollar bonds, Bloomberg reported, citing people familiar with the matter.

Dow JonesNasdaq CompositeS&P 500$AMZN$INTC$SPCX

US Markets77d ago

Microsoft Invests $2.5 Billion in New AI Implementation Business

Microsoft (MSFT) is launching a new business unit with a $2.5 billion investment that will help clients with artificial intelligence implementations, the technology giant said Thursday.The new business will be called Microsoft Frontier Co. and embed 6,000 experts at customers across the globe to help co-design, deploy and improve AI systems at scale. Rodrigo Kede Lima is expected to lead the unit as president.Microsoft Frontier helps focus on "end-to-end frontier transformation, enabling customers to amplify their IQ with AI while refining their differentiated value in the markets that they serve," Judson Althoff, chief executive of Microsoft Commercial Business, said in a blog post.On Tuesday, Amazon.com's (AMZN) cloud-computing unit, Amazon Web Services, said it's investing $1 billion in a new unit called AWS Forward Deployed Engineering that is focused on helping customers co-develop and deploy agentic AI tools in a matter of days."This goes beyond what has been labeled as Forward Deployed Engineering (FDE) and will be the largest, most capable, outcome-driven engineering organization in the industry," Althoff said Thursday.Microsoft shares were up 1.9% in late-afternoon trade. So far this year, the stock has lost 19% in value.The company is already working with global clients, including London Stock Exchange Group, Unilever (UL), and Novo Nordisk (NVO). Microsoft said it has FDE partnerships with Accenture (ACN), EY, KPMG, PwC and others.Price: $391.38, Change: $+7.10, Percent Change: +1.85%

$ACN$AMZN$MSFT$NVO$UL

Sectors77d ago

Sector Update: Tech Stocks Fall Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 7.4%.The Philadelphia Semiconductor index slumped 6.2%.In corporate news, Nvidia (NVDA) said it is expanding access to its AI infrastructure by introducing a revenue-sharing model that grants token credits to developers in exchange for a portion of the recurring earnings from the cloud networks. Its shares fell 2.3%.Microsoft (MSFT) said Thursday it is launching Microsoft Frontier, a new operating business to provide frontier transformation services using AI. The company said it is investing $2.5 billion in Microsoft Frontier and embedding 6,000 employees at clients to co-design and deploy AI systems. Separately, Microsoft-backed OpenAI is in preliminary talks to give a 5% stake to the US government, the Financial Times reported. Microsoft shares were up 2%.Amazon-backed (AMZN) Anthropic and the Trump administration have not held talks on the US government taking stakes in Anthropic, Reuters reported. Amazon shares were rising 1.4%.

$AMZN$MSFT$NVDA

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