Alphabet Shares Plummet as OpenAI Unveils New AI Search Prototype!

Image source: photo by Pawel Czerwinski on Unsplash

Alphabet Shares Plummet as OpenAI Unveils New AI Search Prototype! 📊 Alphabet's stock dropped 2% after OpenAI announced a new AI search prototype, heightening competition concerns. OpenAI's move, designed to enhance real-time web information retrieval, could challenge Google's search market dominance. MarketWatch reports.

💸 ProfitMiss: Ford plummets as higher costs, EV unit take a toll on profit growth. Reuters reports.

🩺 AIGenie: GE HealthCare taps Amazon Web Services to build generative AI for medical use. CNBC reports.

🎬 LeagueLoss: Warner Bros stock falls after losing 'key' NBA rights as league secures $77 billion deal with Disney, Comcast, and Amazon. Yahoo Finance reports.

⏳ AutoSlow: Honeywell trims annual profit forecast on muted industrial automation demand. Reuters reports.

🚗 MotorMisstep: Ford falls most in fifteen years as warranty costs erode profit. Yahoo Finance reports.

✈️ JetLag: American Airlines’ stock bounces toward a 4-year low after a big profit warning. MarketWatch reports.

Who Prints Money in the US?

The US Federal Reserve controls the money supply in the United States. However, it doesn't actually print currency bills itself. The Department of the Treasury prints bills based currency amounts set by the Fed.

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The closing price of the top three market percent gainers trading near or above $3 on July 25.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $SLRX: Salarius Pharmaceuticals
Total gain: 63.55%
The stock appeared to be moving on no notable news.

2. $CMAX: CareMax
Total gain: 45.36%
The stock appeared to be moving on no notable news.

3. $SERV: Serve Robotics
Total gain: 41.47%
The company announced the appointment of finance leader David Goldberg to its Board of Directors and the reappointment of Uber Technologies executive Sarfraz Maredia, following their election at Serve's 2024 Annual Meeting of Stockholders. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

MMM: 3M
2Q 2024
Before Market Opens
Estimate: 1.680
Actual: 1.930

CL: Colgate-Palmolive
2Q 2024
Before Market Opens
Estimate: 0.870
Actual: 0.910

CHTR: Charter Communications
2Q 2024
Before Market Opens
Estimate: 7.980
Actual: 8.490

Time (ET) / Report / Period

8:30 am - Personal income (nominal) - June
8:30 am - Personal spending (nominal) - June
10:00 am - Consumer sentiment (final) - July

"The market’s volatility is a friend to the disciplined investor, offering opportunities where others see only risk."

― Howard Marks

Sourced in:
"The Most Important Thing: Uncommon Sense for the Thoughtful Investor",
by Howard Marks, published in 2011