TD Cowen sees positives for Alphabet (GOOGL), but notes 'some risk to YouTube mobile share'

Alphabet (GOOG) PT Raised to $140 at TD Cowen Into Q2 EPS

July 13, 2023 6:22 AM EDT

TD Cowen analyst John Blackledge raised the price target on Alphabet (NASDAQ: GOOG) to $140.00 (from $130.00) while maintaining an Outperform rating into Q2 results, where the see improvement.

The analyst commented, "Our 2Q Digital ad expert check call on 7/10 implies ongoing US consumer... More

Google's AI chatbot, Bard, expands to Europe, Brazil, to take on ChatGPT

July 13, 2023 3:19 AM EDT

By Foo Yun Chee and Isabel Woodford

BRUSSELS (Reuters) - Alphabet said it is rolling out its artificial- intelligence chatbot, Bard, in Europe and Brazil on Thursday, the product's biggest expansion since its February launch and pitting it against Microsoft-backed rival ChatGPT.

Bard and ChatGPT are human-sounding programs that use generative artificial intelligence to hold conversations with users and answer myriad prompts. The products have touched off global excitement tempered with caution.

Companies have jumped onto the AI bandwagon, investing billions with the hope of generating much more in advertising and cloud revenue.... More

Alphabet (GOOGL) PT Raised to $150 at Morgan Stanley

July 13, 2023 2:05 AM EDT

Morgan Stanley analyst Brian Nowak raised the price target on Alphabet (NASDAQ: GOOGL) to $150.00 (from $140.00) while maintaining a Overweight rating.... More

Stock market today: Dow ends higher as big tech reigns supreme on easing inflation

July 12, 2023 4:37 PM EDT

Investing.com -- The Dow gave up gains but ended higher Wednesday, as data showing inflation rose by the slowest pace in more than two years pushed Treasury yields lower and tech higher amid optimism that a widely expected rate increase later this month could prove to be the final hike.

The Dow Jones Industrial Average rose 0.25%, or 86 points, and the Nasdaq was up 1.2%, and the S&P 500 rose 0.74%.

Fed: One final hike in July?

The consumer price index rose 0.2% last month after edging up 0.1% in May, with 12-month inflation also slowing to... More

S&P 500 climbs as easing inflation pushes yields lower, tech higher

July 12, 2023 3:31 PM EDT

Investing.com -- The S&P 500 was in rally mode Wednesday, underpinned by hopes that the Federal Reserve could deliver its final rate hike later this month after data showed inflation slowed more than expected in June.

The S&P 500 rose 0.8%, the Dow Jones Industrial Average rose 0.38%, or 120 points, and the Nasdaq was up 1.2%.

Fed: One final hike in July?

The consumer price index rose 0.2% last month after edging up 0.1% in May, with 12-month inflation also slowing to a 3% pace from 4%, marking the slowest pace of price pressures since March 2021.

... More

Elon Musk launches AI firm xAI as he looks to take on OpenAI

July 12, 2023 12:29 PM EDT

(Reuters) -Elon Musk, the billionaire entrepreneur, launched his long-teased artificial intelligence startup xAI on Wednesday, unveiling a team comprised of engineers from the same big U.S. technology firms that he hopes to challenge in his bid to build an alternative to ChatGPT.

The startup will be led by Musk, already the CEO of electric car maker Tesla , CEO of rocket launch company SpaceX and owner of Twitter, who has said on several occasions that the development of AI should be paused and that the sector needed regulation. Musk has repeatedly voiced concerns about AI's potential for "civilizational destruction."

... More

Nasdaq 100 rebalance will benefit these 7 stocks - Wells Fargo

July 11, 2023 9:18 AM EDT

Wells Fargo analyst Christopher Harvey reflected on the upcoming Nasdaq 100 (NDX) Special Rebalance that is taking place on Friday, July 21.

A Special Rebalance is usually conducted to address overconcentration in the index by redistributing the weights. This particular move is focused on reducing concentration risk and reducing the dominance of the Big Seven, namely Microsoft (NASDAQ:... More

Nasdaq-100 Special Rebalance as the Pendulum Has Swung Too Far - Wells Fargo

July 11, 2023 6:42 AM EDT

Wells Fargo analyst Christopher Harvey on the announced Nasdaq-100 special rebalancing: "The upcoming NDX rebalance is reducing concentration risk but creating uber-cap selling pressure. With uber-caps overbought, near-term liquidity demands will likely weigh on the group. In 2011, down-sized names lagged by 2-3% between announcement and event. Our Index Strategists estimate... More