Michelob Ultra Is the One Bright Spot in a Gloomy Beer Market
As sales tumble for other big beer brands, Michelob Ultra is growing by pitching its low-calorie, low-carb brews to health-conscious consumers. The brand's marketing has emphasized sports and fitness for more than two decades, with ads promoting Michelob Ultra as a post-workout drink and brand sponsorships of golf and soccer tournaments.
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Stock market today: Dow, S&P 500, Nasdaq hit pause as hot PPI inflation data cools rate-cut rally
US stocks mostly stalled on Thursday as Wall Street digested a much hotter-than-expected PPI inflation print, souring optimism around a large September rate cut. The major gauges wavered for much of the session, with the Dow Jones Industrial Average (^DJI) closing down slightly, and the benchmark S&P 500 (^GSPC) rising just above the flatline to notch a third record close in a row. The tech-heavy Nasdaq Composite (^IXIC) closed just below its record high. July's Producer Price Index (PPI) came in well above expectations, with month-over-month prices rising 0.9% compared to expectations of 0.2%. On an annual basis, prices rose 3.3%, the most since February. "Core" producer prices, which strip out the cost of food and energy, saw the largest increase in three years. Euphoria over a possible September rate cut had swept Wall Street over the past two sessions after July's Consumer Price Index report showed inflation rose as expected, but not dramatically. Traders had fully priced in a rate cut at the Fed's next meeting, even as some Fed policymakers continue to urge patience. By Thursday, the vast majority of bets were still on a cut, but nearly 10% of traders were pricing in a rate hold. Meanwhile, bets on a "jumbo" 50-basis-point cut evaporated. The inflation shock sapped some of the enthusiasm out of a roaring market this week. Stocks extended their rally on Wednesday, pushing the S&P 500 and Nasdaq to consecutive record highs. Bitcoin (BTC-USD) got a boost from mounting rate-cut bets, too, reaching a new record high Wednesday evening before rolling over. Friday's retail sales reading will serve as this week's final key economic data point. In corporate news, cryptocurrency exchange operator Bullish (BLSH) rose 10% on Thursday, hovering around $75, about double its IPO price of $37. Intel (INTC) shares jumped 7% after Bloomberg reported that the Trump administration is considering taking a stake in the US chipmaker. S&P 500 ekes out third record in a row, Nasdaq and Dow stall US stocks were mixed on Thursday, but the S&P 500 managed to eke out a record close as Wall Street digested a hotter-than-expected PPI inflation print, dampening optimism around a 50-basis-point cut in September. The Dow Jones Industrial Average (^DJI) fell slightly, while the benchmark S&P 500 (^GSPC) rose above the flatline to notch its third record in a row. The tech-heavy Nasdaq Composite (^IXIC) slipped below the flatline. Stocks wavered for much of the session as investors trimmed expectations of looser monetary policy after July's hot PPI print. Meanwhile, crypto tumbled as bitcoin (BTC-USD) retreated from a record high and ether (ETH-USD) also pulled back from near-record territory. Intel jumps 8% after report the Trump administration is in talks about stake in chip maker Intel (INTC) shares jumped 8% to a session high after Bloomberg reported that the Trump administration is considering taking a stake in the US chip-maker. On Tuesday the stock jumped after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation just last week. Cisco CFO sees big AI opportunities despite concerns about slowing core growth Yahoo Finance's Francisco Velasquez reports: Read more here. Netflix stock pops 3% after doubling ad commitments Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Opendoor stock skyrockets more than 20% Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Monterey Car Week 2025: 3 things to watch Pras Subramanian reports: Read more here. No crisis after all? Why Americans might be more prepared for retirement than you think. Yahoo Finance's Robert Powell reports: Read more here. Bitcoin retreats from record after hot PPI print, no plans for US to add to reserve through purchases Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Amazon could seize market share and drive down fees with its latest grocery bet Yahoo Finance's Francisco Velasquez reports: Read more here. Nvidia rises after denying Rubin chip delay Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: S&P 500 ekes out third record in a row, Nasdaq and Dow stall US stocks were mixed on Thursday, but the S&P 500 managed to eke out a record close as Wall Street digested a hotter-than-expected PPI inflation print, dampening optimism around a 50-basis-point cut in September. The Dow Jones Industrial Average (^DJI) fell slightly, while the benchmark S&P 500 (^GSPC) rose above the flatline to notch its third record in a row. The tech-heavy Nasdaq Composite (^IXIC) slipped below the flatline. Stocks wavered for much of the session as investors trimmed expectations of looser monetary policy after July's hot PPI print. Meanwhile, crypto tumbled as bitcoin (BTC-USD) retreated from a record high and ether (ETH-USD) also pulled back from near-record territory. US stocks were mixed on Thursday, but the S&P 500 managed to eke out a record close as Wall Street digested a hotter-than-expected PPI inflation print, dampening optimism around a 50-basis-point cut in September. The Dow Jones Industrial Average (^DJI) fell slightly, while the benchmark S&P 500 (^GSPC) rose above the flatline to notch its third record in a row. The tech-heavy Nasdaq Composite (^IXIC) slipped below the flatline. Stocks wavered for much of the session as investors trimmed expectations of looser monetary policy after July's hot PPI print. Meanwhile, crypto tumbled as bitcoin (BTC-USD) retreated from a record high and ether (ETH-USD) also pulled back from near-record territory. Intel jumps 8% after report the Trump administration is in talks about stake in chip maker Intel (INTC) shares jumped 8% to a session high after Bloomberg reported that the Trump administration is considering taking a stake in the US chip-maker. On Tuesday the stock jumped after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation just last week. Intel (INTC) shares jumped 8% to a session high after Bloomberg reported that the Trump administration is considering taking a stake in the US chip-maker. On Tuesday the stock jumped after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation just last week. Cisco CFO sees big AI opportunities despite concerns about slowing core growth Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Netflix stock pops 3% after doubling ad commitments Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Netflix (NFLX) shares rose about 3% on Thursday after the streamer announced it had doubled its overall ad commitments during this year's US Upfront and finalized deals with all major holding companies and independent agencies. Amy Reinhard, president of Netflix advertising, said the results were in line with expectations, with brands eager to align with the platform's upcoming slate, which includes the final season of "Stranger Things" and new seasons of "Bridgerton," "Emily in Paris," and "Nobody Wants This." "We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world," Reinhard said in a company blog post. Netflix executives are doubling down on their ad-supported tier as a key engine for future growth. On last month's second quarter earnings call, CFO Spencer Neumann said ad sales are showing "nice momentum," with the company expecting ad revenue to roughly double to about $3 billion in 2025. The push comes as Netflix continues to grow its ad tier audience, which hit 94 million global monthly active users, up from 70 million in November. Earlier this year, the streamer hiked prices across several US plans, including its ad-supported offering, which is still among the cheapest options at $7.99 per month. Netflix co-CEO Greg Peters noted that retention remains "stable and industry-leading" while overall engagement remains strong. Recent price hikes, he said, have performed in line with expectations, reinforcing Netflix's confidence in its monetization strategy even as the company keeps a close eye on broader consumer sentiment. Opendoor stock skyrockets more than 20% Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Opendoor Technologies (OPEN) gained more than 20% on Thursday, occupying a spot on the Yahoo Finance Trending Tickers page. The iBuyer platform's stock has gone from under $1 in July to more than $4.80 at the height of the meme craze last month. On Thursday, shares hovered just below $3 each, but they were still far below their all-time high of $39.24, reached in February 2021. Monterey Car Week 2025: 3 things to watch Pras Subramanian reports: Read more here. Pras Subramanian reports: Read more here. No crisis after all? Why Americans might be more prepared for retirement than you think. Yahoo Finance's Robert Powell reports: Read more here. Yahoo Finance's Robert Powell reports: Read more here. Bitcoin retreats from record after hot PPI print, no plans for US to add to reserve through purchases Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Bitcoin (BTC-USD) fell 3% on Thursday, retreating from its record high after hotter-than-expected inflation soured expectations of a large rate cut in September. Treasury Secretary Scott Bessent indicated the US wouldn't buy any more tokens for its reserve, but it wouldn't sell any either. On Wednesday, bitcoin touched an all-time high record, surpassing $123,000 per token. Crypto rolled over after July's producer price index came in much higher than expected. During an interview with Fox Business this morning, Bessent said US reserves of bitcoin amount to around $15 billion or $20 billion at today's prices. "We've also started to get into the 21st century — a bitcoin strategic reserve. We're not going to be buying that, but we are going to use confiscated assets and continue to build that up. We're going to stop selling that," he said. Expectations of Fed rate cuts, coupled with heavy purchases from corporate treasurys, have driven up the price of the asset this year. The cryptocurrency has gained 25% year to date and has rallied roughly 57% since the April lows. Amazon could seize market share and drive down fees with its latest grocery bet Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Nvidia rises after denying Rubin chip delay Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. Nvidia (NVDA) stock climbed nearly 1% Thursday morning after the company told Barron's and Seeking Alpha that its Rubin chip is "on track" after an analyst at Fubon Research indicated the GPU could be delayed. The company did not immediately respond to Yahoo Finance's request for comment. 'We think it is very likely that Rubin will be delayed," Fubon Research analyst Sherman Shang wrote in a research note seen by the outlets. "The first version of Rubin was already taped out in late June, but Nvidia is now redesigning the chip to better match AMD's upcoming MI450." "We think the next tape out schedule will be in late September or October, and based on the tape out schedule, the Rubin volume will be limited in 2026," Shang said. Nvidia said the report was incorrect in emailed statements to the outlets. Rubin is Nvidia's next-generation AI chip architecture, the successor to Blackwell, and it was unveiled during the company's annual GTC conference in 2025. stock continues freefall after 'brutal' preliminary financial results stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. stock sank 3.5% Thursday, putting shares down more than 20% over the past five trading sessions. The AI software company's shares have suffered since releasing preliminary results for the first quarter of its fiscal year 2026, which ended July 31. The company estimated last Friday that it will see a quarterly loss of $57.7 million to $57.9 million on revenue in the range of $70.2 million to $70.4 million. C3 will report its full results on Sept. 3. Its preliminary results were "well below" consensus estimates on Wall Street and the company's previous guidance for a loss of $23.5 million to $33.5 million on revenue of $100 million to $109 million, JPMorgan analyst Brian Essex wrote in a note to clients Monday. C3 has been mired in controversy over the last several years. In 2022, investors sued the company and its founder and former CEO, Tom Siebel, for misrepresenting the size of a sales team related to its largest partnership with energy company Baker Hughes (BKR). In 2023, short-selling firm Spruce Point Management alleged the company showed "signs of problematic financial reporting and accounting." Then last month, Siebel stepped down from the role of CEO due to an autoimmune disease diagnosis. Since C3 released its preliminary results last Friday, four investment firms, including Oppenheimer and DA Davidson, have downgraded C3 stock to Market Perform and Sell ratings. Wedbush maintained its Outperform rating on the stock but lowered its price target to $23 from $35. "This was a brutal quarter and if C3 cannot turn this around darker days could be ahead," Dan Ives wrote in a note to clients Monday. America's favorite office lunch spots are having a challenging summer Yahoo Finance's Brooke DiPalma reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Stocks fall at the open after latest inflation data shows rising producer prices US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. US stocks sank Thursday at the market open, after the latest Producer Price Index reading showed wholesale inflation climbing much more than expected — a negative sign for hopes of a Fed rate cut in September. The Dow Jones Industrial Average (^DJI) sank more than 0.4%, while the benchmark S&P 500 (^GSPC) fell over 0.3%. The tech-heavy Nasdaq Composite (^IXIC) lost 0.25%. Wholesale inflation rises more than expected in July The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. The Producer Price Index — a measure of wholesale inflation that tracks changes in the selling prices of US producers of goods and services — rose 0.9% in July, the US Bureau of Labor Statistics reported Thursday, more than the 0.2% expected by analysts surveyed by Bloomberg. That was the biggest jump since June 2022. That's after the PPI was unchanged in June and advanced a more modest 0.4% in May. Driving the increase in July was a rise in prices for final demand services, or services sold by businesses, which climbed 1.1% — the largest jump since March 2022. Producers also saw higher prices of raw materials businesses use to make other products, which rose 1.8%, led by a jump in prices for food and animal feed (in particular, the price of raw milk soared 9.1%). Still, that was smaller than the 2.6% rise in June. Read more here. September rate hold? Investors say it's (sort of) back on the table Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Thursday's hot PPI reading has shifted bets on the Fed's next move a bit. According to the CME Group's FedWatch tool, a cut is no longer fully priced in. Yesterday's odds: Today's odds (as of 9 a.m. ET): So the bets on a jumbo cut have in effect switched places with holding steady. Trending tickers in premarket trading: Bullish, Deere, Cisco Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Here's a look at the top stocks trending on Yahoo Finance this morning: Bullish (BLSH): The cryptocurrency exchange operator's stock rose 5% in premarket trading after it posted an 83% gain in its first day of trading. The stock saw gains as high as 215% on Wednesday after it opened for trade at $90. You can read more about the Bullish IPO here. (JD): Shares were up 0.2% after the Chinese e-commerce company reported that net income fell by more than 50% year over year amid new investments into the competitive food delivery space in China. Revenue of 356.66 billion yuan ($49.73 billion) beat estimates, however. Deere (DE): Shares of the farm equipment maker fell 5% as quarterly sales fell 9% from a year ago. Deere also narrowed its full-year profit forecast, and profits for the third quarter came in lighter than expected. Cisco (CSCO): The networking giant reported earnings that barely beat estimates and results that showed Cisco benefiting from a boom in AI demand. Still, the stock dropped 1.6% in premarket trading. Check out live coverage of corporate earnings here. Bitcoin, ethereum trade near record highs as Wall Street grows bullish on crypto Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Bitcoin (BTC-USD) saw modest gains to trade at $120,807 on Thursday morning, but the crypto was about 2% off its record high of $123,500 on Wednesday. As Yahoo Finance's Ines Ferré detailed, inflows into spot exchange-traded funds and public companies adding bitcoin to their balance sheets have been key drivers of this year's token rally. Strategists also point to the Trump administration's pro-crypto stance as a major catalyst. Meanwhile, ethereum (ETH-USD) prices traded near record levels, climbing 0.5% on Thursday morning to $4,722 per token, just shy of its 2021 record level of around $4,800. "We have stated multiple times we believe Ethereum is the biggest macro trade over the next 10-15 years," Fundstrat head of research Tom Lee wrote in a note on Wednesday. Stocks may be at all-time highs, but speculative froth isn't Yahoo Finance's Hamza Shaban reports: Read more here. Yahoo Finance's Hamza Shaban reports: Read more here. Good morning. Here's what's happening today. Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Economic data: Initial jobless claims (week ending Aug. 9); Producer Price Index, (July); Earnings: (JD), Deere & Company (DE), Advanced Auto Parts (AAP), Birkenstock (BIRK), Applied Materials (AMAT), Nucor (NUE) Here are some of the biggest stories you may have missed overnight and early this morning: These stock market all-time highs aren't quite frothy 117-year high at busiest port in the US Earnings: Foxconn beats on AI demand, Deere profit falls Bullish stock tops $75 after strong IPO debut US oil producers say OPEC+ 'price war' will halt shale boom Rate cut next month doesn't seem warranted: Fed's Daly Trump's Treasury set to decide fate of of wind, solar projects Trump-fueled crypto frenzy sparks rush to Wall Street IPOs 'Tesla shame' bypasses Norway as sales jump despite Musk's politics Amazon grocery push stocks still in focus When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning: When Amazon (AMZN) goes big on something, usually the stock prices of its competitors get beaten up. The latest example came on Wednesday Amazon announced plans to expand its 1,000-city fresh and perishable same-day grocery delivery to 2,300 cities by year-end. This is a huge deal for the grocery industry. Albertson's (ACI) and Kroger (KR) — aka traditional grocers — saw their share prices fall. I think this is a big deal for the industry and for Amazon. The impact of Amazon's move won't be felt overnight, but just like the company's impact on department stores in recent years, the aftershocks will be felt over time. Evercore ISI analyst Michael Montani with some good thoughts this morning:
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CreateAI Holdings: Q2 Earnings Snapshot
SAN DIEGO (AP) — SAN DIEGO (AP) — CreateAI Holdings Inc. (TSPH) on Thursday reported a loss of $17.8 million in its second quarter. The San Diego-based company said it had a loss of 7 cents per share. The self-driving technology company posted revenue of $13,000 in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on TSPH at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Eagles great Lane Johnson continues to cement his Hall of Fame credentials
As a prep star, longtime Philadelphia Eagles star Lane Johnson torched the competition as one of the better quarterbacks in the great state of Texas. That led to a season at Kilgore College, where he played tight end and QB. He threw for 510 passing yards and three touchdowns. After his freshman year, he transferred to join the Oklahoma Sooners. That's where many of us got to know him. Philadelphia made him the fourth overall selection of the 2013 NFL Draft, during the Chip Kelly era. Thank Heaven he was a Howie Roseman selection. Lane Johnson further solidifies his Hall of Fame resume This isn't meant disrespectfully. This is more of a statement of how much he has grown and what he has overcome, but you can't tell the Lane Johnson story without detailing a pair of extensions and how he has turned his life around. Johnson was recently a guest on The Pivot Podcast. He detailed stories of navigating challenges with mental health and nagging injuries. That led to the questions about how long his career might continue. Had he left the game early, we may not be talking about the Pro Football Hall of Fame-worthy icon that he grew to become. Some of the best news we all heard last season was that Johnson would return to the Eagles in 2025. He said he'd do so regardless of the outcome of Super Bowl LIX. The other members of the Eagles 'core four have retired. With that decision made, Kelce, Fletcher Cox, and Brandon Graham hand the O.G. title to the man Nick Sirianni calls 'the NFL's best offensive tackle'. Johnson has aged like a fine wine. He has gone from an excellent and dominant young tackle to an immovable NFL icon. He has redefined what success looks like at the offensive tackle position. He learned from Jason Peters and Jason Kelce. He's now a mentor to Jordan Mailata, Landon Dickerson, Cam Jurgens, and Tyler Steen. The resume speaks for itself. Lane Johnson is a six-time Pro Bowler (2017–2019, 2022–2024). Twice, he has been named a First-Team All-Pro (2017, 2022). Three times, he has been named a Second-team All-Pro (2021, 2023, 2024). Say what you will about Penei Sewell. He's fantastic, but he owes Johnson that First-Team All-Pro nod from 2024. Most importantly, Johnson is a two-time Super Bowl champion, and that is how history will remember him (unless he wins another one). He has long proven he is worthy of Pro Football Hall of Fame induction. Everything he does now adds to the icing on the cake. Watching him has been a privilege, one that will continue during the coming Eagles season. This article originally appeared on Eagles Wire: Lane Johnson keeps adding achievements to a Hall of Fame-worthy resume
