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Market Analysis
Stocks to Watch Today: Alphabet, Warner Bros. Discovery, and AMD
Alphabet, Warner Bros. Discovery, and Advanced Micro Devices are making waves in the stock market today.
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Tech giant Alphabet (NASDAQ: GOOG), media conglomerate Warner Bros. Discovery (NYSE: WBD), and semiconductor manufacturer Advanced Micro Devices (NYSE: AMD) are making headlines with significant announcements and experiencing notable stock movements today.
Alphabet Shares Up as AI Overviews Feature Gets Major Expansion
Alphabet (GOOG) shares are up 1.42% today, trading at $165.49. The company announced a major expansion of its AI Overviews feature, which was initially launched in May 2024.
Google plans to roll out the service to six new countries, including India, Brazil, and Japan, with local language support. The expansion comes with new features such as the ability to save specific AI Overviews and an option to view snapshots in simpler language for technical topics.
Alphabet’s stock has shown strong performance, with a year-to-date return of 17.58% and a market cap of $2.025 trillion.
Warner Bros. Discovery Shares Gain Amid Key Leadership Change
Warner Bros. Discovery (WBD) is seeing a 2.35% increase in its stock price today, reaching $7.41. The company announced a significant leadership change in its cable TV business, with Channing Dungey set to take over the U.S. Networks group at the end of 2024.
This move comes as WBD grapples with challenges in its cable division, having recently taken a $9 billion write-down on its networks. Despite today’s gains, WBD’s stock has struggled this year, with a year-to-date return of -34.93% and a market cap of $18.156 billion.
AMD Gains After Jim Cramer Praises Stock
Advanced Micro Devices (AMD) stock is up 1.02% today, trading at $148.86. The company has been garnering attention from analysts and investors alike, with Jim Cramer recently praising AMD on his show Mad Money, stating that the company is “dominating” the market.
AMD’s Q2 2024 earnings report showed strong growth in its data center and client segments, with overall revenue rising 9% year-over-year to $6 billion. Despite a recent 24% drop in stock price over the last 30 days, AMD’s year-to-date return remains positive at 1.00%, and its market cap stands at $240.975 billion.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
