Alphabet Inc. (Class A)

US Appeals Court Reportedly Lets Suits Against Meta, Google Proceed

US Appeals Court Reportedly Lets Suits Against Meta, Google Proceed

Lyft Q2 Rides, Gross Bookings Growth Support Higher Estimates, RBC Says

Lyft (LYFT) posted a "solid" Q2 as rides and gross bookings grew across its US rideshare, Freenow and bikeshare businesses, supporting higher estimates and a more constructive outlook, RBC Capital Markets said in a report emailed Friday.Gross bookings rose 23% from a year earlier to $5.5 billion, while rides increased 12% to 262 million. The firm said growth was helped by Freenow, premium ride options and record airport activity during the 2026 FIFA World Cup.Accelerating organic ride growth in 2H and stronger-than-average growth in San Francisco, where rides increased about 20%. That performance was viewed as "encouraging" for the argument that autonomous vehicles could expand the overall ride-hailing market rather than simply displace existing demand, according to the report.Lyft is also shifting toward higher-value services, including "premium modes" and partner rides, while continuing work on a "unified customer facing" app for 2027. The firm raised the company's 2026 and 2027 bookings, revenue and adjusted earnings before interest, taxes, depreciation, and amortization estimates, according to the report.RBC has an outperform rating on Lyft and increased the price target to $20 from $18.Price: $17.05, Change: $+0.75, Percent Change: +4.60%

Etsy's Workforce Reduction May Help Sustain Gross Merchandise Sales Uptrend, Wedbush Says

Etsy's (ETSY) workforce reduction will lead to some margin improvement to help sustain the uptrend in gross merchandise sales, Wedbush said in a Friday research report.The brokerage said it now expects Q3 EPS of $0.86 on revenue of $669 million, up from prior estimates of $0.74 and $651 million, respectively.The company is seeing efficiency in its market spend as "richer listings data" shared with Alphabet's (GOOG/GOOGL) Google is enabling competitive bids across auctions, bolstering performance, according to Wedbush.All GMS growth levers are moving in the right direction, but the setup becomes more complex in H2 as purchase frequency remains below prior-year levels, the analysts said.Wedbush reiterated its neutral rating and boosted its price target to $88 per share from $80.Price: $85.43, Change: $+3.16, Percent Change: +3.85%

Sector Update: Tech Stocks Higher Thursday Afternoon

Tech stocks advanced Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3%.The Philadelphia Semiconductor Index rose 1.4%.In sector news, Chinese AI company DeepSeek has resumed its second round of funding in which it seeks to raise close to $8 billion, Bloomberg reported.In corporate news, SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.1%.Alphabet (GOOGL) has received about $115 billion of investor orders for its latest bond sale, which is expected to raise as much as $25 billion, Bloomberg reported. Alphabet shares were down 1.3%.AppLovin (APP) shares fell past 18% after the mobile technology company's Q2 revenue fell short of market estimates.

Marqeta Expands Partnership With Google on Digital Allowance Tool for Kids

Marqeta (MQ) said Thursday it is expanding its partnership with Alphabet's (GOOG, GOOGL) Google to enable kids and teens under 18 to receive and spend allowances through Google Wallet.The offering uses Marqeta's tokenization and spend-control technology, giving parents visibility into transaction history and notifications, along with the ability to set daily limits and lock or unlock balances, the company said.Price: $16.79, Change: $+0.13, Percent Change: +0.78%

Market Chatter: Alphabet Bond Sale Draws About $115 Billion in Investor Orders

Alphabet (GOOG) has received about $115 billion of investor orders for its latest bond sale, which is expected to raise as much as $25 billion, Bloomberg reported Thursday, citing people familiar with the matter.Alphabet didn't immediately reply to a request 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: $358.24, Change: $-1.89, Percent Change: -0.52%

Alphabet Bond Sale Draws About $115 Billion in Investor Demand, Bloomberg Reports

Alphabet Bond Sale Draws About $115 Billion in Investor Demand, Bloomberg Reports

Top Midday Stories: Apollo Acquires EasyJet in Deal Valued at $7.68 Billion; Honeywell Aerospace Shares Fall Following Guidance Cut

The Dow Jones Industrial Average was down in late-morning trading Thursday, while the the S&P 500 and Nasdaq Composite were up slightly, as investors watch for developments in the process to reopen the Strait of Hormuz.In company news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement through which the Apollo fund will acquire the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. The deal values EasyJet at 5.7 billion British pounds, according to the filing. Apollo shares were down 1.2% around midday.Honeywell Aerospace (HONA) reported fiscal Q2 adjusted EPS late Wednesday of $1.87, down from $2.75 a year earlier. Fiscal Q2 revenue was $4.52 billion, up from $4.29 billion a year ago but below the FactSet consensus of $4.61 billion. For fiscal 2026, the company expects organic growth of 4% to 5%, down from its prior outlook of 7% to 9%. Analysts polled by FactSet expect full-year revenue of $18.91 billion. Honeywell Aerospace shares were down 20.3%.Sandisk (SNDK) reported fiscal Q4 adjusted earnings late Wednesday of $39.25 per diluted share, up from $0.29 a year earlier and above the FactSet consensus of $34.96. Fiscal Q4 revenue was $8.97 billion, up from $1.90 billion a year ago and above the FactSet consensus of $8.48 billion. For fiscal Q1, the company expects adjusted EPS of $44 to $46 on revenue of $10.30 billion to $10.80 billion. Analysts polled by FactSet expect $44.72 and $10.82 billion, respectively. Sandisk also said its board approved a share buyback expansion by an additional $14 billion, bringing the total remaining authorization to $15.5 billion. Sandisk shares were down 3.2%.Alphabet (GOOG, GOOGL) has started marketing a US investment-grade bond sale in as many as 10 parts, with maturities ranging from two to 40 years, Bloomberg reported Thursday, citing a person familiar with the matter. The tech giant is seeking up to $25 billion from the sale, according to a separate Bloomberg report, which cited people familiar with the matter. Alphabet Class C and Class A shares were down 0.7% and 0.8%, respectively.SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.5%.Western Digital (WDC) reported fiscal Q4 non-GAAP EPS late Wednesday of $3.56, up from $1.70 a year earlier and above the FactSet consensus of $3.31. Fiscal Q4 revenue was $3.75 billion, up from $2.1 billion a year ago and above the FactSet consensus of $3.70 billion. For fiscal Q1, the company expects non-GAAP EPS of $4.00, plus or minus $0.15, and revenue of $4.1 billion, plus or minus $100 million. Analysts polled by FactSet expect $3.84 and $4.06 billion, respectively. Western Digital shares were down 8.6%.AppLovin (APP) reported Q2 EPS late Wednesday of $3.76, up from $2.39 a year earlier and matching the FactSet consensus. Second-quarter revenue was $1.92 billion, up from $1.26 billion a year ago but below the FactSet consensus of $1.94 billion. For Q3, the company expects revenue of $2.06 billion to $2.09 billion, compared to the FactSet consensus of $2.08 billion. Applovin shares were down 20.1%.Datadog (DDOG) reported Q2 non-GAAP net income of $0.65 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.58. Second-quarter revenue was $1.12 billion, up from $826.8 million a year ago and above the FactSet consensus of $1.08 billion. For Q3, the company expects non-GAAP net income per share of $0.63 to $0.65 on revenue of $1.135 billion to $1.145 billion. Analysts polled by FactSet expect non-GAAP EPS of $0.61 on revenue of $1.11 billion. For full-year 2026, the company expects non-GAAP EPS of $2.50 to $2.54, up from its previous guidance of $2.3 to $2.44, and it raised its revenue guidance to $4.45 billion to $4.47 billion from $4.30 billion to $4.34 billion. Analysts polled by FactSet expect $2.42 and $4.35, respectively. Datadog shares were down 15.8%.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the Cyberspace Administration of China, Bloomberg reported Thursday. Palo Alto shares were down 1.7%.Microsoft-backed (MSFT) OpenAI asked a federal judge to dismiss Apple's (AAPL) trade-secrets lawsuit as meritless, Bloomberg reported Thursday, citing a court filing. Microsoft shares were up 1.7%, while Apple shares were down 0.3%.Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported Thursday, citing people familiar with the matter. DB shares were down 0.7%.Price: $128.12, Change: $-1.63, Percent Change: -1.25%

Alphabet, Block Expand Collaboration on Google Maps AI Feature

Alphabet's (GOOG. GOOGL) Google has expanded its collaboration with Block's (XYZ) Square unit to allow food and beverage sellers to appear in the results of Google Maps' new conversational AI experience, Ask Maps, Square said Thursday.Square food and beverage sellers who activate a Google Business Profile can appear in Ask Maps results and have new order flows enabled, the company said.Price: $358.38, Change: $-1.75, Percent Change: -0.49%

DeepSeek Resumes Second Funding Round, Seeks $8 Billion, Bloomberg Reports

DeepSeek Resumes Second Funding Round, Seeks $8 Billion, Bloomberg Reports

Correction: S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

(Corrects to remove detailed Microsoft information as story published July 31 included Q3 data.)The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

Alphabet Seeking Up to $25 Billion From US Investment-Grade Bond Sale, Bloomberg Reports

Update: US Equity Indexes Mixed as Mega-Cap Communication Services, Tech Names Weigh, Strait of Hormuz Safe Route Emerges

(Updates with index/price moves and macroeconomic data from the first paragraph.)US equity indexes traded mixed amid declines in heavyweight communication services and technology names, while reports emerged that Iran and Oman have agreed on a proposed route through the Strait of Hormuz in bilateral talks.The Nasdaq Composite slid 0.8% to 26,363.44, and the S&P 500 fell 0.2% to 7,723.55 at close Wednesday. The Dow Jones Industrial Average rose 0.5% to 54,349.12. Communication services, energy and utilities led decliners. Materials and healthcare topped gainers.SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares slumped more than 13%, the worst performer on the Nasdaq.Alphabet's (GOOG, GOOGL) Google announced new roles for DeepMind Chief Executive Demis Hassabis as part of a reshuffle amid the departure of Chief Scientist Jeff Dean. Hassabis will become chairman of Google DeepMind and assume the role of chief scientist at Alphabet, per memos Wednesday from Alphabet CEO Sundar Pichai and Hassabis. Shares of the search giant dropped 4.2%, among the worst performers on the Dow, the S&P 500, and the Nasdaq.Shares of Advanced Micro Devices (AMD) dropped 7%, one of the steepest decliners on the Nasdaq, after analysts, in a post-earnings conference call late Tuesday, raised questions about the chipmaker's gross margin trajectory. The company reported fiscal Q2 adjusted earnings and revenue above market expectations, and Q3 sales guidance beat consensus.The pace of data center AI ramp is "very important because, from [a] revenue opportunity perspective, we see [a] large incremental revenue opportunity from data center AI," AMD Chief Financial Officer Jean Hu said on the call, according to a FactSet transcript. "Once it ramps, not only [will] it add tremendous revenue for the company, but also gross profit, even though the gross margin is slightly below corporate average."Among stocks with a market capitalization of more than $200 billion, seven out of the bottom 10 names were from either communication services or technology sectors, according to data compiled by Finviz. The three worst performers in this category of mega-caps were SpaceX, Advanced Micro Devices and Alphabet.Meanwhile, Iran said it has reached a deal with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward a reopening of the waterway for energy supplies, Bloomberg reported Wednesday.A joint statement from the two countries is in the final drafting stage, Iran's foreign ministry spokesman Esmail Baghaei was cited as saying Wednesday, Bloomberg reported. Talks between Iran and Oman are "forward-moving," and an agreement would be struck "if certain third parties do not obstruct this process," Baghaei was cited as saying, according to the report.A proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait, a senior Iranian source and two regional officials told Reuters, one of the biggest concessions yet to Iran.The front-month US West Texas Intermediate crude oil fell 1% to $75.03 a barrel, and global benchmark North Sea Brent was little changed at $79.34 a barrel.US Treasury yields slipped, with the 10-year yield down 1.6 basis points to 4.61%.Gold futures surged 3.6% to $4,308.1, and silver futures advanced 3.4% to $62.28.In economic news, the Institute for Supply Management's US services index rose to 54.1 in July from 54.0 in June, compared with expectations for 54.5 in a Bloomberg-compiled survey.The S&P Global US services index was revised upwards to 54.6 in July from the 53.6 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg. The July index is above the 51.2 reading in June and is the highest for nine months.ADP's monthly measure of private payrolls showed a 44,000 increase in July, below expectations in a Bloomberg-compiled poll for a gain of 65,000. The July increase followed a downwardly revised 95,000 jobs increase in June.

Update: US Equity Indexes Mixed as Communication Services Sector Hits Nasdaq, Proposed Hormuz Route Reportedly Agreed

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as declines in heavyweight communication services names restrained the Nasdaq Composite, and amid reports that Iran and Oman have agreed on a proposed route through the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite fell 0.6% to 26,415.2, and the S&P 500 was little changed at 7,736.9 ahead of Wednesday's close. The Dow Jones Industrial Average rose 0.7% to 54,451.1.SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. Shares slumped 13%, the worst performer on the Nasdaq.Alphabet's (GOOG, GOOGL) Google announced new roles for DeepMind Chief Executive Demis Hassabis as part of a reshuffle amid the departure of Chief Scientist Jeff Dean. Hassabis will become chairman of Google DeepMind and assume the role of chief scientist at Alphabet, per Wednesday memos from Alphabet CEO Sundar Pichai and Hassabis. Shares of the search giant dropped 4.2%, among the worst performers on the Dow, the S&P 500, and the Nasdaq.Shares of Advanced Micro Devices (AMD) dropped 6.9%, one of the steepest decliners on the Nasdaq, after analysts, in a post-earnings conference call late Tuesday, raised questions about the chipmaker's gross margin trajectory. The company reported fiscal Q2 adjusted earnings and revenue above market expectations, and Q3 sales guidance beat consensus.The pace of data center AI ramp is "very important because, from [a] revenue opportunity perspective, we see [a] large incremental revenue opportunity from data center AI," AMD Chief Financial Officer Jean Hu said on the call, according to a FactSet transcript. "Once it ramps, not only [will] it add tremendous revenue for the company, but also gross profit, even though the gross margin is slightly below corporate average."Meanwhile, Iran said it has reached a deal with Oman on a proposed shipping route through the Strait of Hormuz, a potential step toward a reopening of the waterway for energy supplies, Bloomberg reported Wednesday.A joint statement from the two countries is in the final drafting stage, Iran's foreign ministry spokesman Esmail Baghaei was cited as saying Wednesday, Bloomberg reported. Talks between Iran and Oman are "forward-moving," and an agreement would be struck "if certain third parties do not obstruct this process," Baghaei was cited as saying, according to the report.A proposed deal between Iran and Oman to help end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait, a senior Iranian source and two regional officials told Reuters, one of the biggest concessions yet to Iran.The front-month US West Texas Intermediate crude oil slipped 0.7% to $75.26 a barrel, and global benchmark North Sea Brent rose 0.2% to $79.55 a barrel.

Alphabet's Google Chief Scientist Departs to Establish new AI Startup

Alphabet's (GOOG, GOOGL) Google DeepMind and Google Research chief scientist Jeff Dean will leave the company to establish Discovery Loop that will focus on automating machine learning and engineering tasks, Google CEO Sundar Pichai confirmed in a X post Wednesday.Pichai added that Google will support Dean's venture as a founding investor and cloud partner.Dean said in a separate X post that he, along with Sanjay Ghemawat, Oriol Vinyals, and Quoc Le, will form the public benefit corporation with the primary goal to accelerate scientific discoveries.Price: $361.45, Change: $-13.90, Percent Change: -3.70%

Alphabet's Google Must Face UK Advertising Class Action, Tribunal Rules

Alphabet's (GOOG, GOOGL) Google must face a UK class action lawsuit alleging abuse of dominance in mobile operating systems, app distribution, general search, and search advertising, the Competition Appeal Tribunal ruled Wednesday.The tribunal certified the claim on an opt-out basis, meaning eligible UK businesses will be automatically included unless they choose to opt out.The claim, brought by class representative Or Brook, alleges Google's conduct caused advertisers to pay more for search advertising and achieve lower returns on ad spend than in a competitive market, according to the ruling.The tribunal said the class covers 880,000 businesses, with damages estimated at up to 5 billion pounds ($6.7 billion).Google didn't immediately respond to a request for comment from.Price: $360.43, Change: $-14.92, Percent Change: -3.97%

Market Chatter: Alphabet, Meta Could Face Stricter Social Media Regulation After Senate Passes Kids Online Safety Bills

Alphabet's (GOOG, GOOGL) Google, Meta Platforms (META), and other social media platforms could face stricter regulation after the US Senate Commerce Committee unanimously passed a package of bills targeted at keeping children safe online, Bloomberg reported Wednesday.The Kids Safety Online Act, or S. 1748, contains a stringent "Duty of Care" section that requires platforms to exercise "reasonable care" in the design of any feature to prevent and mitigate various harms to minors, including eating disorders and depression, according to the bill text.The CHATBOT Act, or S. 4407, would impact artificial intelligence companies such as OpenAI and Anthropic to create "family accounts" for parents to manage access and usage of AI chatbots by their children, according to an earlier statement from the Senate committee.The House of Representatives, which passed a more lenient version of the legislation in June, will meet with the Senate in the fall to discuss the two versions, the report said.(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: $359.33, Change: $-16.02, Percent Change: -4.27%

Street Color: Alphabet Appoints Demis Hassabis Chief Scientist, Chair of Google DeepMind

Street Color: Alphabet Appoints Demis Hassabis Chief Scientist, Chair of Google DeepMind

Alphabet's Google DeepMind CEO Demis Hassabis to Become Chair, Bloomberg Reports

Alphabet's Google DeepMind CEO Demis Hassabis to Become Chair, Bloomberg Reports