Adam Foroughi, CEO of AppLovin.CNBCAppLovin shares resumed their historic rally on Thursday after the ad-tech company reported better-than-expected earnings for the second quarter.The stock popped 11% and is now up 34% for the year after soaring more than eightfold in 2024. Wall Street has piled into the company due to its growth from artificial intelligence technology that’s given advertisers more ways to target users in mobile games.CEO Adam Foroughi suggested on the earnings call that another wave of growth is likely on the way due to the legal saga between Apple and Epic Games. In April, a judge in Oakland…
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Facebook CEO Mark Zuckerberg departs E. Barrett Prettyman United States Court House on April 14, 2025 in Washington, DC. Andrew Harnik | Getty ImagesA California jury ruled against Meta in a privacy-related lawsuit involving the alleged collection of sensitive data from Flo, a period-tracking app.The jury ruled that the plaintiffs proved that Meta violated the California Invasion of Privacy Act, according to a verdict form filed Friday in the U.S. District Court for Northern District of California.The ruling stems from a class-action lawsuit dating back to 2021 against the health-tech company Flo Health and other businesses like Meta, Google-parent Alphabet and…
Federal Reserve Governor Christopher Waller converses on the sidelines of a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, U.S., May 9, 2025. Ann Saphir | ReutersThe odds that Federal Reserve Governor Christopher Waller will be named the next chairman crossed above 50% for the first time on prediction market Kalshi.Waller’s probability spiked from just about 16% on Wednesday after Bloomberg News reported, citing people familiar with the matter, that President Donald Trump’s advisors like his openness to adjust monetary policy based on forecasting, rather than current data. It also reported that Waller has met with…
The chart of American Express (AXP) was looking quite promising into early July, with a strong uptrend phase off the early April low. Over the last four weeks, a pullback has changed the complexion of this chart, which now appears to be a classic example of a double top pattern. Now AXP is testing a key support level, and any further weakness could confirm a bear phase in August. The daily chart features a clear double top pattern, with the early July peak around $328 lining up well with the February top at $325. Now a double top pattern is…
The uncertainty of the Trump Administration’s ongoing trade talks with China, which have spurred multiple “deadlines,” has fueled airfreight traffic. Global air cargo volumes jumped 5% year-on-year in July, according to Xeneta, as a result of global shippers trying to get their goods into the U.S. before the latest deadline of Aug. 12. This need for speed has also expanded air freight volumes on other trade routes. The China trade deadline was extended in May to next Tuesday. “While this state of tariff flux exists, air cargo gives shippers the opportunity to respond quicker and ‘that’s what they’re playing with,”…
Firefly Aerospace rings the opening bell at the Nasdaq on Aug. 7th, 2025.The NasdaqFirefly Aerospace jumped more than 50% in its Nasdaq debut on Thursday after pricing shares above its expected range.Shares started trading at $70 each under the ticker symbol FLY. The initial price values the company at close to $10 billion. The shares ticked lower after the open.Space technology has gained momentum in recent years as companies such as Elon Musk’s SpaceX amass more funding and government contracts. Firefly is the third space company to go public this year after Voyager Technology and Karman Holdings.The rocket and lunar lander maker priced shares late Wednesday…
Here are some of the stocks posting the biggest moves in midday trading. Source link
Eli Lilly delivered strong second-quarter results on Thursday, but shares are plummeting because of disappointing data for a key late-stage trial. It’s forcing us to ask ourselves difficult questions about this once-loved stock. Revenue in the three months ended June 30 jumped 38% year over year to $15.56 billion, beating Wall Street expectations of $14.71 billion, according to LSEG. Adjusted earnings per share (EPS) surged 61% year over year to $6.31, ahead of the $5.46 consensus, LSEG data showed. Shares of Lilly tumbled more than 14% in afternoon trading to around $640 apiece. While we’re glad we booked profits in…
US President Donald Trump speaks in the Oval Office of the White House in Washington, DC, US, on Wednesday, Aug. 6, 2025. Bonnie Cash | Bloomberg | Getty ImagesPresident Donald Trump’s overall and economic approval ratings remain in negative territory despite a slight improvement in the latest CNBC All-America Economic Survey.More troubling for the president, however, could be that the survey shows positive approval of only one of seven key issues, with the public holding negative views on his handling of tariffs, inflation, taxes and federal spending.There also was a modest rise in the public’s preference for the Democrats to…
OpenAI CEO Sam Altman, pictured, speaks with SoftBank Group CEO Masayoshi Son at an event in Tokyo on Feb. 3, 2025.Tomohiro Ohsumi | Getty Images News | Getty ImagesOpenAI on Thursday announced GPT-5, its latest and most advanced large-scale artificial intelligence model.The company is making GTP-5 available to everyone, including its free users. OpenAI said the model is smarter, faster and “a lot more useful,” particularly across domains like writing, coding and health care.”I tried going back to GPT-4, and it was quite miserable,” OpenAI CEO Sam Altman said in a briefing with reporters.Since launching its AI chatbot ChatGPT in…
