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Top stories today: - Intel stock -19% after weak earnings, to lay off 15% of staff
- Don Lemon sues Elon Musk, X for canceling web show
- Apple's revenue +5% to $85.8B, as China sales drop
- Amazon stock -7% with worrying remarks on consumer
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0. Data and calendar |
 | All values as of 1 AM ET / 10 PM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). |
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 | All times are ET. |
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1. Intel stock -19% after weak earnings, to lay off 10K workers, 15% of staff |
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2. Don Lemon sues Elon Musk, X for canceling web show |
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Lemon claims Elon promised $1.5M/year and full authority over content. $200K was to be paid upfront, Lemon alleges. No contract had been signed between them. Lemon alleges Elon said there would be no need to "fill out paperwork."
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4. Apple's revenue +5% to $85.8B, led by Services, iPad, as China sales drop |
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New iPads were released in Q2, first since 2022. To look out in Q3/Q4: iPhone 16 lineup and Apple Intelligence launch. Stock +1% after-hours.
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5. Amazon stock -7% with worrying remarks, even as operating income +91% to $14.7B |
North America and AWS led in operating income growth, as AWS led in revenue: |
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6. Interesting videos, posts, and memes |
 | No Priors Ep. 74 | With Google DeepMind VP of Research Oriol Vinyals |
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 | AI in Pharmaceutical R&D with Kim Branson |
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7. Other headlines |
AI |
Contextual AI, RAG 2.0 for LLM development, raises $80M. Chrome's desktop version getting new Gemini-powered features.
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Tech |
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Tech earnings |
Block's revenue +11% to $6.16B. Coinbase's revenue +108% to $1.38B, still reliant on high consumer fees. Snap's revenue +16% to $1.24B, stock -16% on weak guidance. Twilio's revenue +4% to $1.08B, net loss of $32M. Roku's revenue +14% to $968M, net loss of $34M. Cloudflare's revenue +30% to $401M.
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Tech & law |
NVIDIA's buy of Run:ai probed by DOJ. Apple files motion to dismiss DOJ's antitrust lawsuit. Net neutrality rules from Biden admin blocked by appeals court. G42 working with U.S. to meet AI standards amid China worries. HPE's $14B Juniper deal approved by EU. EU's AI Act comes into force.
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Business |
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Crypto |
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U.S. politics |
$80B tax bill rejected by Senate after bipartisan support in House. Trump campaign raises $139M in July, has $327M in cash. Nate Silver: election toss-up, with Harris at 45%. JD Vance defends Trump's NABJ comments on Harris.
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World |
Evan Gershkovich, Paul Whelan, others released in prisoner swap. Israel preps for potential attack by Iran. Ismail Haniyeh's cause of death: smuggled bomb into Tehran guesthouse. Maduro's opponent recognized as election winner by U.S. Venezuela's opposition leader: in hiding, "fearing for my life."
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