Business and Finance News - 7.26.24

The Disney Plus, Hulu, and Max streaming bundle, now available in the US, starts at $16.99 per month for the ad-supported tier, offering significant savings compared to separate subscriptions. Prices for the ad-free version are $29.99 per month, with the bundle aimed at reducing consumer streaming fatigue and cancellation rates. (The Verge)

*The Walt Disney Company (DIS) - The Walt Disney Company, commonly known as Disney, is a diversified multinational entertainment and media conglomerate that operates in media networks, parks and experiences, studio entertainment, and interactive media.

*Warner Bros. Discovery (WBD) - Warner Bros. Discovery is a global media and entertainment company that creates, produces, and distributes a wide range of content across multiple platforms.

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Ford's stock dropped over 16% after missing Q2 profit estimates and maintaining full-year profit guidance. Despite a revenue beat at $47.8 billion, Ford's adjusted EPS was $0.47 against an expected $0.67, with its Model e EV unit posting a $1.143 billion loss in EBIT while Ford Pro showed significant profits. (Yahoo! Finance)

*Ford (FORD) - Ford Motor Company is a global automotive manufacturer that designs, produces, markets, and services a full line of cars, trucks, SUVs, electrified vehicles, and luxury vehicles under the Ford and Lincoln brands.

The U.S. economy grew at an annualized rate of 2.8% in Q2, exceeding the forecast of 2.1%, with consumer spending and government expenditures driving the growth. Inflation showed signs of easing with the PCE price index rising 2.6%, down from 3.4% in Q1, while the personal savings rate fell to 3.5%. (CNBC)

*Gross Domestic Product (GDP) - Gross Domestic Product (GDP) is a measure of the total economic output of a country within a specific time period. It includes the value of all goods and services produced within the country's borders. GDP is used as an indicator of a country's economic health and performance.

IBM's Q2 revenue of $15.77 billion and adjusted EPS of $2.43 surpassed expectations, leading to a 5% rise in shares. The company now anticipates 2024 free cash flow above $12 billion and reported its generative AI business exceeding $2 billion, reflecting increased AI-related business activity. (CNBC)

*IBM (IBM) - IBM, or International Business Machines Corporation, is a global technology and consulting company that provides a wide range of services and products, including cloud computing, AI, IT infrastructure, and software development.

Southwest Airlines is ending its 50-year open seating policy, allowing passengers to reserve seats, as part of efforts to improve margins following a 46% decline in Q2 profits despite record revenue of $7.35 billion. The change, supported by customer preference data, is part of broader modernization efforts including premium seating and in-flight amenities. (Quartz)

*Southwest Airlines (LUV) - Southwest Airlines is a major American airline known for its low-cost carrier model.

Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 39,935.07 +81.20 (+0.20%)

• S&P 500: 5,399.22 -27.91 (-0.51%)

• Nasdaq Composite: 17,181.72 -160.69 (-0.93%)

• Russell 2000: 2,224.62 +29.25 (+1.33%)

• CBOE Volatility Index (VIX): 18.49 +0.45 (+2.49%)

Here’s how leading market ETFs did yesterday:

• SPDR S&P 500 ETF Trust (SPY): 538.41 -2.82 (-0.52%)

• iShares Core S&P 500 ETF (IVV): 541.34 -2.87 (-0.53%)

• Invesco QQQ Trust (QQQ): 458.27 -5.11 (-1.10%)

• Vanguard S&P 500 ETF (VOO): 494.78 -2.51 (-0.50%)

• Vanguard Total Stock Market ETF (VTI): 266.50 -1.03 (-0.39%)

• Vanguard Real Estate ETF (VNQ): 88.03 -0.29 (-0.33%)

Here’s how The Magnificent Seven did yesterday:

• Microsoft (MSFT) [3.11T]: 418.40 -10.50 (-2.45%)

• Apple (AAPL) [3.335T]: 217.49 -1.05 (-0.48%)

• Nvidia (NVDA) [2.767T]: 112.28 -1.97 (-1.72%)

• Alphabet (GOOG) [2.09T]: 169.16 -5.21 (-2.99%)

• Amazon (AMZN) [1.872T]: 179.85 -0.98 (-0.54%)

• Meta Platforms (META) [1.15T]: 453.41 -7.86 (-1.70%)

• Tesla (TSLA) [702B]: 220.25 +4.26 (+1.97%)

Here’s how the major cryptocurrencies did yesterday:

• Bitcoin (BTC): $66,945.70 (10:15PM PST on 7/25/24)

• Ethereum (ETH): $3,248.03 (10:15PM PST on 7/25/24)

• Solano (SOL): $176.84 (10:15PM PST on 7/25/24)