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Now time for some of today’s trending tickers. We are watching App Lovin, Alphabet and XAI. First up, App Lovin, those shares sharply rebounding. They fell 14% on Monday after Bloomberg News reported the SEC is probing the data collection practices of the mobile advertising technology company.
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The agency is specifically looking to allegations that App Lovin violated service agreements with platform partners to push more targeted advertising. But city analyst Jason Bazne notes the regulator has not officially accused the company of wrongdoing.
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He views the absence of an 8K filing as a positive. It suggests the firm, he says, does not view this as a material risk. The shares up nearly 7% today.
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Next up, Alphabet, it’s Google lost a Supreme Court bid to pause major changes to its Google Play App Store in an anti-trust case filed by Fortnite maker Epic Games. The Supreme Court without explanation denied Google’s request to temporarily put part of a lower court ruling on hold.
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The company sought to block a requirement to allow rival App stores access to its app library and bar it from blocking downloads from competitors in Google Play. A Google spokesperson said the company is disappointed by the ruling and will continue to appeal.
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And finally XAI, Elon Musk’s XA AI startup appointing a new chief financial officer. The Financial Times reporting Musk tapped former Morgan Stanley executive Anthony Armstrong to take the helmet as CFO at both XAI and X, the social media platform. The executive previously helped Musk complete the $44 billion acquisition of Twitter and was one of his lieutenants during his stint at Doge.
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Armstrong’s predecessor left the company just months into the job.
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As always, you can scan the QR go code below to track the best and worst performing stocks with Yahoo Finance’s trending tickers page.
