Alphabet stock pops 6% in premarket trading after Google avoids break-up in antitrust case

🍏 The iPhone 17 will be unveiled next week. Here are the 3 things investors should watch for:

Apple Inc.’s stock has performed well in the last month, rising 14%, although it’s still in the red on the year.

Whether the recent positive momentum can keep going will depend on the iPhone maker’s product-launch event next week.

On Sept. 9, Apple is expected to unveil its new iPhone 17 lineup at its “Awe Dropping” event.

The company will need to continue impressing investors with a new product cycle and show that it’s not so far behind the curve when it comes to artificial-intelligence innovation. MarketWatch reports.


🏛️ Trump to ask Supreme Court to save tariffs but faces tough legal questions:

U.S. President Donald Trump is set to imminently ask the conservative-majority Supreme Court to validate his broad emergency tariffs after two setbacks at lower courts, but will face tough legal questions as his administration presses ahead with backup plans.

Legal and trade experts said that the Supreme Court's 6-3 majority of Republican-appointed justices may slightly improve Trump's odds of keeping in place his "reciprocal" and fentanyl-related tariffs after a federal appeals court ruled 7-4 last week that they are illegal. Reuters reports.


🚕 Waymo starts testing in Denver, Seattle in bid to expand robotaxi service across U.S.

Alphabet’s Waymo unit will begin test drives of its robotaxis in Denver and Seattle this week, with humans behind the wheel, the company said Tuesday.

“We will begin driving manually before validating our technology and operations for fully autonomous services in the future,” a company spokesperson said in an email. Waymo announced the tests in blog posts.

The autonomous vehicle venture aims to expand its driverless, ride-hailing service across the U.S. after already launching commercial operations in Austin, Texas, as well as Atlanta, San Francisco, Phoenix and Los Angeles. CNBC reports.


💵 Dollar Tree's stock rallies after a big earnings beat, as people shopped and spent more:

Shares of Dollar Tree Inc. gained 1% in premarket trading Wednesday, after the off-price retailer reported a bit profit beat for the fiscal second-quarter and raised its full-year outlook, even while providing a downbeat outlook for the current quarter.

The results come about a week after rival Dollar General Corp. beat quarterly profit and sales expectations and raised its full-year earnings guidance.

For the quarter to Aug. 2, net income rose 42.3% from the same period a year ago to $188.4 million, and adjusted earnings per share, which excludes nonrecurring items, of 77 cents beat the average analyst EPS estimate compiled by FactSet of 42 cents.

The margin of the bottom-line beat was the widest in at least five years, based on available FactSet data back to May 2020. Net sales grew 12.3% to $4.57 billion, ahead of the FactSet consensus of $4.48 billion. MorningStar reports.


🤖 OpenAI acquires Statsig for $1.1 billion, brings on CEO as applications executive:

OpenAI continued its spending spree, announcing on Tuesday that it has acquired Statsig, a product development startup, for $1.1 billion.

Statsig helps OpenAI and other companies test features and use real-time data in their operations. As part of the acquisition, Statsig CEO Vijaye Raji is joining OpenAI as technology chief in the applications unit.

He will report to Fidji Simo, the former Instacart CEO who was tapped to lead OpenAI’s applications business⁠ in May.

“Working with the incredible team at OpenAI to build AI-powered experiences at scale for people and businesses is a rare and meaningful opportunity,” Raji wrote in a post on LinkedIn. “Doing that with the help of tools we built at Statsig makes it even more special.”

Statsig will continue to operate independently and serve customers out of its Seattle office, OpenAI said. CNBC reports.


📊 CoreWeave's stock slides as insider selling sparks investor concerns:

Shares of the cloud-computing company fall sharply as top executives, including the CEO and its largest shareholder, Magnetar Financial, sell millions in stock following a lockup expiration.

Some of CoreWeave's top executives and shareholders, including CEO Michael Intrator, are selling off parts of their holdings. There's been a flurry of insider selling after CoreWeave Inc.'s lockup period expired in August, and it sent the cloud-computing company's stock tumbling on Tuesday.

Last week, CoreWeave (CRWV) executives including Chief Executive Michael Intrator and Chief Financial Officer Agrawal Nitin, as well as the company's biggest shareholder, Magnetar Financial, sold shares in the company. MorningStar reports.

“The market does not know you exist. You can do nothing to influence it. You can only control your behavior.”

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Sourced in:
“Trading for a Living: Psychology, Trading Tactics, Money Management” by Alexander Elder, published in 1993.

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