Wire
Trump Administration Opening 301 Probe Into EU Treatment of US Tech Companies
Trump Administration Opening 301 Probe Into EU Treatment of US Tech Companies
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Alphabet Inc. (Class A)
$GOOGLNASDAQTechnology
364 stories mentioning Alphabet Inc. (Class A)Updated 7h ago
Alphabet's Google announced a $1.5 billion 2026-27 expansion of its Alabama data center campus, funding its own power and infrastructure costs.
Wire
Alphabet's Google Signs EU AI Content Transparency Code
Alphabet's (GOOG, GOOGL) Google said Friday it is signing the EU AI Act Code of Practice on Transparency of AI-Generated Content "to help support the responsible use of AI in Europe."The company said the move builds on its 2025 signing of the General-Purpose AI Code of Practice and aligns with efforts to advance industry standards and tools like SynthID, its digital watermarking technology for identifying how content is created and edited.Google said it is partnering with AI labs including Apple (AAPL), Nvidia (NVDA), Eleven Labs, Kakao and OpenAI to drive adoption of cross-platform watermarking tools using SynthID."While we support transparency, we are concerned that adding more regulatory complexity -- as technical solutions are still evolving -- could contradict Europe's goals for competitiveness and simplification," Google said. "If online content is flooded with overlapping AI labels and legal disclosures, it becomes harder for people to get the clear context they need."Price: $318.62, Change: $+0.28, Percent Change: +0.09%
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Wire
Verizon Signs Deal for Google to Use Verizon Dark Fiber Worth Over $1 Billion
Verizon Signs Deal for Google to Use Verizon Dark Fiber Worth Over $1 Billion
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Asia Markets
Update: US Equity Indexes Slump, Crude Oil Soars as Trump Warns of Big Iran Attack
(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped as government bond yields jumped to the highest in a year and crude oil surged after President Donald Trump warned of a major operation in Iran.The Nasdaq Composite slumped 2.2% to 25,137.69, the S&P 500 dropped 1.2% to 7,408.30, and the Dow Jones Industrial Average declined 1% to 51,711.65 on Thursday. Consumer discretionary and communication services were the standout decliners, down more than 5% each, while technology also lagged. Industrials and health care topped the gainers.President Donald Trump is considering restarting major combat operations in Iran, including strikes bigger than the ones seen in Operation Epic Fury, according to an Axios report. "I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it," the president said.Yemen's Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday to disrupt Middle East exports, according to a report from the Associated Press. If Houthis attack again, "the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis themselves," Trump said in a Truth Social post.The CBOE Volatility Index VIX, also known as the fear gauge for equities, shot up 12% to 18.70.The front-month US West Texas Intermediate soared 6.1% to $92.13 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.19 a barrel.In precious metal markets, gold futures dropped 2.4% to $4,052.20, and silver futures slumped 4% to $57.91, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target.US Treasury yields jumped, extending gains. The 10-year marched 3.8 basis points higher to 4.70% after touching its highest intraday level in a year. The two-year surged 4.7 basis points to 4.35% after yields hit a fresh 52-week high this week.In economic news, initial jobless claims fell 22,000 to 187,000 in the week ended July 18, the lowest since 1969 and trimming the four-week moving average by 7,250 to 207,500, a fourth straight decrease.In company news, Tesla (TSLA) shares fell 14.5%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) for violating the Digital Markets Act by self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7.1%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.After the bell, Intel (INTC) reported fiscal Q2 adjusted earnings of $0.42 per share, swinging from a loss of $0.10 a year earlier. Analysts polled by FactSet expected earnings of $0.22. Revenue for the three months ended June 27 jumped to $16.13 billion from $12.86 billion a year earlier. Analysts expected $14.44 billion.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$TSLA
US Markets
Update: Nasdaq, S&P 500 Log Worst Day in More Than Four Weeks as Brent Tops $100
(Updates with market moves at the end of the day.)The Nasdaq Composite and the S&P 500 fell the most in more than four weeks on Thursday as Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares tumbled, while Brent crude rose back above $100 a barrel.The Nasdaq shed nearly 2.2% to settle at 25,137.69, while the S&P 500 fell 1.2% to 7,408.30 -- marking their biggest one-day declines since June 23. The Dow Jones Industrial Average dipped 1% to 51,711.65. Most sectors were in the red, led by communication services and consumer discretionary, while industrials paced the gainers.Alphabet's class A shares tumbled 7.1%, the worst performer on the Dow, while its class C shares slumped 6.9%. Tesla slumped nearly 15%, the steepest decline on the S&P 500.Late Wednesday, the Google parent and Tesla indicated rising artificial intelligence capital spending that analysts said could drive a bigger cash burn than previously projected.Brent futures were trading 6.3% higher at $100.03 a barrel, crossing the $100 level for the first time since May. West Texas Intermediate crude jumped 5.5% to $91.59.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea.US President Donald Trump threatened "major military punishment" against Iran if its Houthi proxy continues attacking ships, according to his social media post on Thursday. The US Central Command said Wednesday it struck Iran for the 12th consecutive night.Treasury yields jumped, with the two-year rate up 4.9 basis points at 4.35% and the 10-year rate rising 4.2 basis points to 4.7%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week fell to 64% Thursday from 88% a week earlier, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase rose to 36% from 12%.Elsewhere in the corporate sector, RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations. Lockheed jumped nearly 11%, the biggest gain on the S&P 500, while RTX advanced 7.3%.Gold fell 2.5% to $4,047.90 per troy ounce, while silver lost 4.2% to $57.75 per ounce.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$LMT$RTX$TSLA
Japan
Update: US Equity Indexes Slump, Crude Oil Soars as Iran-Backed Houthis Hit Tankers in Red Sea Chokepoint
(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped, as government bond yields jumped with crude oil after Iran-aligned Houthis attacked Saudi Arabian tankers and investors awaited Intel's (INTC) earnings following a decline in the shares of mega-caps Alphabet (GOOG, GOOGL) and Tesla (TSLA).The Nasdaq Composite slumped 2.4% to 25,074.5, the S&P 500 dropped 1.4% to 7,393.7, and the Dow Jones Industrial Average declined 1.1% to 51,654.6 ahead of Thursday's close. Intel's quarterly results are due after the bell on Thursday.Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources, in a move that suggests Tehran is seeking to strengthen the ability of its Houthi allies to threaten Red Sea shipping, Reuters reported.Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday, according to a report from the Associated Press, further heightening supply concerns as the militants sought to disrupt Middle East exports.The front-month US West Texas Intermediate soared 5.7% to $91.78 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.21 a barrel.Crude oil extended its rally after "Iran-backed Houthi militants struck two Saudi tankers in the Red Sea," Saxo Bank said in a note. The bid "reflects the US-Iran conflict, the Houthi threat to Red Sea shipping through the Bab el-Mandeb Strait, and Tehran's dismissal of peace talks," it said.US Treasury yields jumped, extending gains, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target. The 10-year marched 4.2 basis points higher to 4.7% after touching its highest intraday level in a year. The two-year surged 5.1 basis points to 4.35% after yields hit a fresh 52-week high this week.In company news, Tesla shares fell 15%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings. Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.The European Commission fined Alphabet's Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$TSLA
US Markets
Alphabet, Tesla Shares Drop as Analysts Warn of Pressures to Free Cash Flow Amid Ballooning CapEx
Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares were slumping Thursday after the technology giants indicated rising artificial intelligence capital spending that analysts said could drive a bigger cash burn than previously projected.Tesla's stock tumbled 14% in late-afternoon trade, while Alphabet's class A and C shares were down 7% each.Alphabet raised its 2026 CapEx outlook to between $195 billion and $205 billion from its previous range of $180 billion to $190 billion to accelerate capacity delivery in a bid "to meet growing demand," Chief Financial Officer Anat Ashkenazi said during the earnings call late Wednesday, according to a transcript posted on the company's website. The Google parent expects CapEx to increase "significantly" next year, Ashkenazi said.The company reported a negative free cash flow of $5.9 billion in the second quarter. "We expect the (FCF) will remain under pressure, driven by our investments in technical infrastructure, which enables us to capitalize on the AI opportunity and continue to drive attractive returns," Ashkenazi added.Wedbush Securities raised Alphabet's CapEx forecasts for 2026 and 2027, driving its FCF estimates for both years into negative territory."We continue to expect revenue to catch up and an inflection back to positive FCF in 2028, driven by Alphabet's full stack positioning and its ability to monetize the upfront investment," Wedbush analysts Ygal Arounian and Chase Tohanczyn said in a note to clients Thursday.The brokerage kept an outperform rating on the Alphabet stock with a $445 price target and added the company to its "Best Ideas List."Separately, Tesla said late Wednesday its CapEx for the first six months of the year grew to $8.28 billion from $3.89 billion a year earlier. The electric vehicle manufacturer expects full-year capital expenses to cross $25 billion due to investments in compute infrastructure and data centers, higher spending on manufacturing facilities, and its AI-enabled operational assets, according to a regulatory filing."This is a massive CapEx year, but I'm confident that all the things that we're investing in are -- will yield incredible returns, really the best CapEx returns that we've ever seen," Tesla Chief Executive Elon Musk said on an earnings call, according to a FactSet transcript. The company reported second-quarter FCF of negative $1.09 billion."We view Tesla's accelerating CapEx cycle as a necessary investment to secure leadership in autonomy and robotics," Morgan Stanley said in a note e-mailed Thursday. "However, these investments push FCF further into negative territory, increasing focus on tangible Robotaxi (and) Optimus milestones."The brokerage reduced its price target on the Tesla stock to $400 from $417, reflecting growing CapEx and "worsening cash burn through the end of the decade," according to the note. Morgan Stanley projects a FCF burn of about $14 billion next year, compared with its previous outlook of $5 billion.Price: $318.86, Change: $-23.06, Percent Change: -6.74%
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Sectors
Sector Update: Tech Stocks Fall Late Afternoon
Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 7%.STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 2.4%, and AMD fell 2.8%.Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported. Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives. Amazon shares were down 4.6%.
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Wire
Alphabet Reports $94.1 Billion Stake in SpaceX
Alphabet (GOOG) holds $94.1 billion in Space Exploration Technologies (SPCX) shares, the Google parent said Wednesday in a quarterly regulatory filing.Alphabet said $80 billion of the shares are subject to short-term sales restrictions and $14.1 billion to long-term restrictions through Q3 2027.Other income and expenses in the quarter ended June 30 included net gains on equity securities of $99 billion, primarily from unrealized gains in its equity portfolio related to SpaceX and a private company, Alphabet said.Alphabet shares fell 6.4% in Thursday trading as the broader market slumped, and SpaceX rose 0.5%, erasing earlier losses.Price: $320.04, Change: $-21.87, Percent Change: -6.40%
$GOOG$GOOGL$SPCX
US Markets
Update: Equity Markets Fall Intraday as Brent Crosses $100; Alphabet, Tesla Tumble
(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, weighed down by post-earnings selloffs in Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares, while a widening Middle East conflict sent Brent crude above $100 a barrel.The Nasdaq Composite was down 2.1% at 25,160.8 after midday Thursday, while the S&P 500 fell 1.2% to 7,411.4. The Dow Jones Industrial Average dipped 0.9% to 51,747.98. Among sectors, consumer discretionary and communication services saw the steepest declines, both shedding more than 4%, while industrials paced the gainers.Alphabet's class A shares were down 6.3% intraday, the worst performer on the Dow, while its class C shares slumped 6.2%. Late Wednesday, the Google parent raised its 2026 capital expenditure guidance as it reported stronger-than-expected revenue for the second quarter amid a surge in the Google cloud segment's sales.Tesla's stock slumped nearly 14% intraday, the steepest decline on the S&P 500. Late Wednesday, the electric vehicle manufacturer reported an unexpected year-over-year decline in its second-quarter earnings, weighed down by higher operating expenses.Brent futures were trading 7.2% higher at $100.85 a barrel, after rising to as high as $101.20 earlier in the day. The global benchmark crossed the $100 level for the first time since May. West Texas Intermediate crude jumped 6.8% to $92.74.US gas prices hit an average $4.091 per gallon on Thursday, up from $3.943 a week ago, according to data from AAA, a travel organization that tracks fuel prices in the country.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea.US President Donald Trump threatened "major military punishment" against Iran if its Houthi proxy continues attacking ships, according to his social media post on Thursday. The US Central Command said Wednesday it struck Iran for the 12th consecutive night.Treasury yields were higher intraday, with the two-year rate rising 5.3 basis points to 4.36% and the 10-year rate rising 4.2 basis points to 4.7%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week fell to 64% Thursday from 88% a week earlier, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase rose about 36% from 12%.Elsewhere in the corporate sector, RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations. Lockheed was up 9.1% intraday, while RTX advanced 7.2%, both among the biggest gainers on the S&P 500.Gold fell 2.4% to $4,053.90 per troy ounce, while silver lost 3.7% to $58.10 per ounce.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$LMT$RTX$TSLA
Wire
Top Midday Decliners
Albertsons (ACI) shares slumped amid heavy trading after the grocery chain lowered its fiscal 2026 earnings and identical sales outlook and reported weaker-than-expected Q1 profit on Thursday.Shares slumped 23% as intraday trading volume catapulted to over 31.3 million from a daily average of about 6.88 million.Tesla (TSLA) shares dropped 14% amid heavy trading after the firm reported a steeper-than-expected drop in Q2 adjusted earnings late Wednesday.Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.More than 75.7 million shares of the company traded intraday compared with a daily average of about 47.3 million.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play.Shares declined 6.4% as intraday trading volume jumped to over 31.7 million from the stock's daily average of about 22.0 million.Price: $11.27, Change: $-3.34, Percent Change: -22.84%
$ACI$GOOG$GOOGL$TSLA
Sectors
Sector Update: Tech Stocks Decline Thursday Afternoon
Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.2%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 1.6%, and AMD fell 3.1%.IBM (IBM) said Thursday that it has agreed to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). IBM shares were down 0.7%.
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Asia Markets
Update: US Equity Indexes Sink as Houthis Target Saudi Tankers in Red Sea, Mag-7 Stalwarts Disappoint
(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped as government bond yields jumped with crude oil after Iran-aligned Houthis attacked Saudi Arabian tankers in the Red Sea and shares of mega-caps Alphabet (GOOG, GOOGL) and Tesla (TSLA) sank.The Nasdaq Composite slumped 2.1% to 25,141.3, the S&P 500 dropped 1.2% to 7,410.6, and the Dow Jones Industrial Average declined 1% to 51,709.3 after midday Thursday. Consumer discretionary and communication services were the standout decliners, down almost 5% each, while technology also lagged. Industrials and energy topped the gainers.Iran flew Islamic Revolutionary Guard Corps commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources, in a move that suggests Tehran is seeking to strengthen the ability of its Houthi allies to threaten Red Sea shipping, Reuters reported.Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday, according to a report from the Associated Press, widening the disruption to crude oil supplies from the Middle East. President Donald Trump warned Tehran would be held accountable for any further Houthi attacks in the Strait of Hormuz, CNN reported. Secretary of State Marco Rubio said Iran "suckered" the group into attacking shipping lanes, the news report added.The CBOE Volatility Index VIX, also known as the fear gauge for equities, catapulted 14.5% to 19.05.Meanwhile, Jordan, Bahrain and Kuwait have reported retaliatory missile and drone attacks from Iran after a 12th consecutive day of US strikes on the Islamic Republic, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate soared 6.3% to $92.33 a barrel, and global benchmark North Sea Brent spiked 6.9% to $100.60 a barrel.US Treasury yields jumped, extending gains. The 10-year marched 3.6 basis points higher to 4.69% after touching its highest intraday level in a year. The two-year surged 4.7 basis points to 4.35% after yields hit a fresh 52-week high this week.In precious metal markets, gold futures dropped 2.4% to $4,053.70, and silver futures slumped 3.9% to $57.96.In company news, Tesla shares fell 13%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings. Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.The European Commission fined Alphabet's Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 6.6%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.United Rentals (URI) reported Q2 adjusted earnings and revenue above market expectations and raised its full-year fiscal 2026 sales guidance. Shares soared 12%, one of the top gainers on the S&P 500.Honeywell Technologies (HON) reported Q2 adjusted earnings and sales that beat consensus, and lifted its full-year 2026 earnings guidance range. Shares advanced 5.2%, the Dow's leader.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$HON$TSLA$URI
Sectors
Sector Update: Tech
Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.3%.The Philadelphia Semiconductor index shed 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.5%.
$GOOGL
Wire
Top Midday Stories: Alphabet Doubles Q2 Capital Spending; Tesla Reports Earnings Decline, Negative Free Cash Flow
All three major US stock indexes were down in late-morning trading Thursday, as Alphabet (GOOG) and Tesla (TSLA) stocks were down after the two tech giants announced increased spending in artificial intelligence.In company news, Alphabet reported Q2 earnings late Wednesday of $9.11 per diluted share, up from $2.31 a year earlier, and above the FactSet consensus analyst estimate of $2.88. Q2 revenue was $119.80 billion, up from $96.43 billion a year ago and above the FactSet consensus of $117.06 billion. Alphabet's Q2 capital expenditure doubled year over year to $44.92 billion from $22.45 billion, bringing total capital spending for the first six months of the year to $80.60 billion. The company revised its 2026 capital expenditure forecast to between $180 billion and $190 billion in April, up from its previous estimate of $175 billion to $185 billion. Alphabet shares were down 7% around midday.On Thursday, Alphabet's Google was fined a total of 890 million euros ($1.04 billion) by the European Commission after the regulator found the company violated the Digital Markets Act. The Commission fined Google 460 million euros over its Google Search practices and 430 million euros for restricting app developers from steering users to alternative purchasing channels outside Google Play. The European Commission ordered Google to end the violations within 60 days by treating third-party services fairly in search rankings and allowing app developers to freely communicate and promote offers outside Google Play, with failure to comply resulting in periodic penalty payments of up to 5% of Google's total worldwide turnover. The company said it is reviewing the decision and evaluating all options, including an appeal.Tesla (TSLA) reported Q2 adjusted earnings late Wednesday of $0.33 per diluted share, down from $0.40 a year earlier and below the FactSet consensus analyst estimate of $0.55. Q2 revenue was $28.24 billion, up from $22.50 billion a year ago and above the FactSet consensus of $26.42 billion. Operating expenses jumped 47% on a yearly basis to $4.35 billion and rose sequentially as well. The auto manufacturer ended the quarter with a negative free cash flow as capital expenditures "more than doubled" from the previous three-month period, Chief Financial Officer Vaibhav Taneja said during an earnings call,. The company continues to expect its capital expenditures to be at over $25 billion this year, the CFO added. "[Capital expenditures] will grow for the next two or three years as we expand our Robotaxi fleet, expand our production capacity for Optimus, make investments for semiconductor fab, install solar manufacturing capacity and AI compute infrastructure in addition to all the other expansions we'll do for other manufacturing for automotive," Taneja told analysts. Tesla shares were down 14%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported Thursday, citing two unnamed sources familiar with the talks. China is also building out data centers, which require not only advanced chips, but also memory chips and central processing units, according to the report. China-based chip buyers are looking to lock in supplies in one- to two-year supply contracts, which do not fix prices, the report said. Intel shares were down 1.8%, while AMD shares were down 2.3%.RTX (RTX) reported Q2 adjusted earnings Thursday of $1.89 per diluted share, up from $1.56 a year earlier, and above the FactSet consensus analyst estimate of $1.66. Q2 net sales were $24.71 billion, up from $21.58 billion a year earlier and above the FactSet consensus of $22.89 billion. The company raised its 2026 adjusted EPS guidance to between $7.10 and $7.25, from the previous range of $6.70 to $6.90. Analysts polled by FactSet expect $6.95. RTX shares were up 7.5%.IBM (IBM) said Thursday that it signed a definitive agreement to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). Financial terms were not disclosed. Boeing and GM will continue to partner with IBM on quantum applications and advanced technology development. HRL's expertise in silicon-spin qubits and quantum sensing will support IBM's quantum computing plans, IBM said. The transaction is expected to close by the end of Q3. IBM shares were up 0.7%, Boeing shares were 0.3% lower, and General Motors shares were down 3.3%.Price: $318.15, Change: $-23.76, Percent Change: -6.95%
$AMD$BA$GM$GOOG$GOOGL$IBM$INTC$RTX$TSLA
Wire
Alphabet's Capex Increase Steals Spotlight From Solid Cloud Acceleration, BofA Securities Says
Alphabet (GOOGL, GOOG) delivered a Q2 revenue and earnings per share beat backed by big upside from its Cloud business, but an increase in capital expenditures is stealing the spotlight, BofA Securities said in a note Thursday.To boost capacity deployment and meet demand, Google raised its 2026 capex guide by $15 billion, or about 8%, to $195 billion to $205 billion.The increase drove a negative share price reaction, but multiple data points indicate that capacity is supporting solid returns, including the $50 billion Q2 quarter on quarter backlog growth to $514 billion, which is well above the $15 billion 2026 capex increase, according to the note.Despite the capex-related pushback by investors, an acceleration in the company's Cloud business as well as margin strength and backlog growth "suggest capex is driving immediate returns," the investment firm said, as it highlighted that cloud margins rose 270 basis points quarter on quarter and nearly 15 points year on year.For Q3, the firm raised its revenue estimate by 3% and EPS by 1% to $3.07 from $3.03.BofA Securities its buy rating and $430 price target on the stock.Shares of Alphabet were down 6.9% in Thursday trading.Price: $318.49, Change: $-23.61, Percent Change: -6.90%
$GOOG$GOOGL
Japan
Update: US Equity Indexes Sink as Mag-7 Stalwarts Disappoint, Houthis Attack Saudi Tankers in Red Sea
US equity indexes dropped as shares of mega-caps Alphabet (GOOG, GOOGL) and Tesla (TSLA) sank and government bond yields surged with crude oil after Iran-aligned Houthis attacked Saudi Arabian tankers in the Red Sea.The Nasdaq Composite slumped 2.4% to 25,067.2, the S&P 500 dropped 1.3% to 7,402.7, and the Dow Jones Industrial Average declined 1% to 51,708.5.Tesla (TSLA) shares fell 14%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings. Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7.1%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.In geopolitical news, Iran flew Islamic Revolutionary Guard Corps (IRGC) commanders, military advisers, and missile- and drone-related equipment into Yemen this month, according to four sources, in a move that suggests Tehran is seeking to strengthen the ability of its Houthi allies to threaten Red Sea shipping, Reuters reported.Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday, according to a report from the Associated Press, widening the disruption to crude oil supplies from the Middle East.The front-month US West Texas Intermediate soared 5.6% to $91.70 a barrel, and global benchmark North Sea Brent spiked 6.8% to $100.42 a barrel.US Treasury yields jumped, extending gains. The 10-year marched 4.8 basis points higher to 4.71% after touching its highest in 52 weeks intraday. The two-year surged six basis points to 4.36% after yields hit a fresh 52-week high this week.
Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$TSLA
Wire
Alphabet Cloud Momentum Supports Long-Term AI Case After Mixed Q2, RBC Says
Alphabet's (GOOG, GOOGL) Q2 results were mixed, but strong Google Cloud Platform growth reinforced the company's long-term position in artificial intelligence, RBC Capital Markets said in a report emailed Thursday.Google Cloud revenue growth accelerated to 82% from 63% in the previous quarter, while backlog rose by $52 billion to $514 billion. YouTube also exceeded expectations, although Search was roughly "in line" and adjusted operating margins and earnings per share fell short, the report said.The firm said higher-than-expected capital spending, negative free cash flow and the use of third-party computing capacity could weigh on margins and limit near-term share-price gains. Alphabet raised its 2026 capital expenditure forecast to between $190 billion and $205 billion and indicated spending would rise significantly in 2027, according to the report.Still, the firm said Alphabet's combination of "data, computing and distribution" gives it advantages in AI that few competitors possess. Growth in cloud demand and expected expansion in Tensor Processing Unit sales could support stronger performance in 2027.RBC maintained an outperform rating on Alphabet with a price target of $425.Price: $319.07, Change: $-22.85, Percent Change: -6.68%
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Wire
Alphabet's Gemini 4 Rollout, TPU Opportunity Key Catalysts to Future Upside, Morgan Stanley Says
Alphabet's (GOOG, GOOGL) next key catalysts following Q2 results are the launch of its Gemini 4 artificial intelligence model suite and greater visibility into its long-term Tensor Processing Unit, or TPU, revenue opportunity, Morgan Stanley said in a note Thursday.The firm said the company is expected to launch its Gemini 3.5 Pro and Gemini 4 family of AI models, including lower-cost versions, to reassure investors that it remains on the frontier. However, the launch timeline is still unclear, the firm said."That said, management's comments about being focused on staying on the frontier and increasing the cadence of model shipping as we reach Gemini 4 (monthly) is notable," the firm added.The firm also said the market is underestimating Alphabet's long-term opportunity in TPUs. It added that investors are overlooking both the scale of capital spending required and the potential revenue from cloud-hosted and third-party TPU sales.Morgan Stanley kept the company's overweight rating but lowered the price target to $400 from $415.Price: $317.40, Change: $-24.52, Percent Change: -7.17%
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Sectors
Sector Update: Tech Stocks Mixed Premarket Thursday
Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.1% higher.Alphabet's (GOOG, GOOGL) Google was fined a total of 890 million euros ($1.04 billion) by the European Commission on Thursday after the regulator found the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play. Shares of Alphabet were down more than 4% pre-bell.ServiceNow (NOW) stock was up more than 5% after the company reported higher Q2 adjusted earnings and revenue.Roper Technologies (ROP) shares were up more than 6% after the company posted higher Q2 adjusted earnings and revenue, and raised its 2026 adjusted EPS guidance.
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