Rolls-Royce Soars 9% After Crushing Earnings Expectations

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Rolls-Royce Soars 9% After Crushing Earnings Expectations. 📈 Rolls-Royce shares surged 9% after the company reported first-half pretax profit nearly doubled to £1.08 billion, surpassing expectations. The engine maker also announced a return to shareholder distributions and raised its full-year profit and cash flow forecasts. MarketWatch reports.

✈️ AltitudeAdjustment: Delta CEO says airline is facing $500 million in costs from global tech outage last week. Yahoo Finance reports.

💳 MasterGain: Mastercard beats quarterly profit estimates on sturdy spending. Reuters reports.

🚫 CensorNet: Russia fines Google, TikTok over banned content. Yahoo Finance reports.

✂️ AppPrice: Apple likely to post higher revenue as discounts aid iPhone demand in China. Reuters reports.

📊 SemiconRise: Samsung second-quarter operating profit soars 1,458% as AI demand remains strong; results top estimates. CNBC reports.🛫 BoeingRising: Boeing names aerospace veteran Kelly Ortberg CEO to steer turnaround. Reuters reports.

* OpenAI is taking on Google with a new artificial intelligence search engine

OpenAI announced its most direct threat yet to its stalwart Big Tech rivals: a search engine that uses artificial intelligence baked in from the beginning.

The company is testing SearchGPT, which will combine its AI technology with real-time information from the web to allow people to search for information in the same way they talk to ChatGPT. While the search engine is currently in an early test for a limited number of users, OpenAI said it plans to integrate the tools into ChatGPT in the future.
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The closing price of the top three market percent gainers trading near or above $3 on July 31.

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

1. $NUZE: NuZee
Total gain: 61.89%
The stock appeared to be moving on no notable news.

2. $LSH: Lakeside Holding
Total gain: 60.34%
The company announced that it has entered into a one-year agreement with automatic annual renewals with a leading Asia-based e-commerce platform to provide cross-border fulfillment services. Benzinga reports.

3. $POWL: Powell Industries
Total gain: 37.81%
The company announced results for the third quarter of fiscal 2024 ended June 30, 2024. Revenues totaled $288 million, an increase of 50%. Benzinga reports.

Time (ET) / Report / Period

8:30 am - Initial jobless claims - July 27
8:30 am - U.S. productivity - Q2
10:00 am - Construction spending - June

"In trading, the moment you believe you have mastered the market is the moment you set yourself up for failure. Humility is the foundation of success."

― Jack D. Schwager

Sourced in:
“Unknown Market Wizards: The Best Traders You’ve Never Heard Of”, by Jack
D. Schwager, published in 2020