00:03 Speaker A
It’s time now for today’s trending tickers. There’s one big winner this morning, some important AI deal me making updates, and a few surprising losers too.
00:10 Speaker A
Well, let’s start with Alphabet and its relentless push for dominance in AI.
00:15 Speaker A
Shares closed up 2.41% and are in the green right now. Remember, they’ve been performing strongly on earnings and overall the stock is up over 45% in just three months.
00:27 Speaker A
The main headline here is that Google could get around $1 billion from Apple, which wants to use Google’s ultra-powerful AI model to overhaul the Siri voice assistant.
00:36 Speaker A
That’s according to Bloomberg.
00:38 Speaker A
Next, Google is said to be in early discussions with Anthropic to increase its investments in the AI firm.
00:43 Speaker A
That’s according to business insider. Google also said that it’s set to announce its biggest ever investment in Germany.
00:52 Speaker A
Next up, Snap is popping in the pre-market trading up around 20% after reporting stronger than expected earnings.
01:00 Speaker A
The Snapchat maker surprised investors with a rebound in ad demand and said user engagement continues to climb.
01:06 Speaker A
It’s also forecasting revenue growth of roughly 15% for the current quarter, a sign its turnaround efforts may finally be taking hold after a rough stretch of layoffs and weak ad spending last year.
01:17 Speaker A
Robin Hood is also on the move after earnings. The brokerage platform posted record net interest income and higher crypto trading volumes, but profits still fell short of Wall Street estimates.
01:28 Speaker A
The stock is seeing choppy action in pre-market, steadily in the red, but not so dramatic.
01:34 Speaker A
One dramatic fall to know about, Live Nation, which closed down about 10% and continued to slide this morning after reporting lower than expected ticket sales and revenue from concerts at $7.28 billion versus 7.33 billion estimates.
01:48 Speaker A
The concert giant is also facing, still facing lots of scrutiny and anti-trust pressure.
01:53 Speaker A
And finally, two IPOs that didn’t go very well. Both are in China’s EV and autonomous vehicle space.
01:59 Speaker A
Pony AI and WeRide both fell sharply on their IPO debuts in Hong Kong, down more than 11% and 18% respectively.
02:07 Speaker A
These two companies are seen as key promising players, but analysts say today they suffered from an over supply of IPOs in Hong Kong.
02:14 Speaker A
The financial hub has become the most active equity capital market this year, according to data from Elc.
02:20 Speaker A
Hong Kong has now overtaken the New York Stock Exchange and Nasdaq as the world’s top listing venue.
