US Morning News Call | Alphabet Surpasses Apple in Market Capitalization for First Time Since 2019
Key Takeaways:
• Alphabet Surpasses Apple in Market Capitalization for First Time Since 2019
• China Poised to Greenlight Select Nvidia H200 Imports as Early as This Quarter
• Defense Stocks Surge After Trump Proposes $1.5T 'Dream Military' Budget
• Anthropic Plans $10B Raise at $350B Valuation, Nearly Doubling in 4 Months
🔔Before the Bell
Trump Administration Plans Control of Venezuelan Oil Industry and Seizes Tankers
Trump administration develops a plan to control Venezuela's state-run oil company PDVSA and acquire bulk oil production. U.S. military seized two tankers carrying Venezuelan oil, extending enforcement against shadow fleet operations in Caribbean.
Alphabet Surpasses Apple in Market Capitalization for First Time Since 2019
$Alphabet-C (GOOG.US)$ $Alphabet-C (GOOG.US)$ parent company Alphabet has overtaken $Apple (AAPL.US)$ to become the second-largest company by market capitalization, marking the first time since 2019 that Alphabet has ranked higher than Apple in market cap rankings.
China Poised to Greenlight Select Nvidia H200 Imports as Early as This Quarter
China is preparing to approve imports of certain $NVIDIA (NVDA.US)$ H200 AI chips as soon as this quarter, according to people familiar with the matter, potentially restoring a key revenue stream for the U.S. chipmaker in its largest overseas market.
Defense Stocks Surge After Trump Proposes $1.5T 'Dream Military' Budget
Defense names rebounded sharply as Donald Trump proposed a historic $1.5T fiscal 2027 defense budget on Truth Social, reversing earlier losses sparked by his threat to curb dividends, buybacks and executive pay at underperforming contractors. Trump said the expanded outlay, partly funded by tariffs, would build a “Dream Military” and boost national security. $Lockheed Martin (LMT.US)$ $RTX Corp (RTX.US)$ $Northrop Grumman (NOC.US)$
JPMorgan Reaches Deal to Take Over Apple Credit Card Program from Goldman Sachs
$JPMorgan (JPM.US)$ has reached an agreement to take over the $Apple (AAPL.US)$ Credit Card program from $Goldman Sachs (GS.US)$ . The deal represents a significant shift in the consumer banking partnership landscape involving major financial institutions.
Eli Lilly Announces $1.2 Billion Acquisition of Biotech Company Ventyx
$Eli Lilly and Co (LLY.US)$ announced plans to acquire biotech company $Ventyx Biosciences (VTYX.US)$ for $1.2 billion. Lilly agreed to buy Ventyx for $14 a share.
Intel Announces New Processor Design Strategy for Market Recovery
$Intel (INTC.US)$ unveiled a new processor design strategy as part of its comeback bid to recover market position.
Applied Digital Reports Strong Q2 Revenue Growth with HPC Hosting Expansion
$Applied Digital (APLD.US)$ reported Q2 FY26 revenue of $126.6 million, a 250% year-over-year increase, beating expectations. HPC hosting revenue reached $85 million with a significant recurring rent portion. Adjusted net income improved to $0.1 million from $17.8 million loss.
Anthropic Plans $10B Raise at $350B Valuation, Nearly Doubling in 4 Months
Anthropic, creator of the Claude chatbot, is seeking to raise $10 billion at a pre-investment valuation of about $350 billion, in a round reportedly led by GIC and Coatue Management. The deal, expected to close in the coming weeks, would almost double Anthropic’s valuation from September, when it raised $13 billion at a $183 billion valuation.
🪙Crypto News
Morgan Stanley Files for Bitcoin, Solana, and Ether ETFs
Morgan Stanley has filed applications for exchange-traded funds tracking Bitcoin, Solana, and Ethereum, expanding the major investment bank's cryptocurrency ETF offerings to include additional digital assets beyond Bitcoin.
Whale Closes ETH Long Position After 30 Failed Attempts, Loses $45,000
A whale trader closed their ETH long position today, losing $45,000 after 30 failed attempts. The trader maintains a 10x leveraged FARTCOIN position worth $3.28 million with $386,000 unrealized losses.
📆Market Events
Key Economic Events
08:30 US Initial Jobless Claims
Key Results
🔔After Market
The market anticipates $Tilray Brands (TLRY.US)$ revenue of $0.21 billion, up 0.09% YOY, with EPS at -$0.14, a 86.01% YOY increase.
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