Hispanolistic
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CXApp (CXAI) soars on multi-million dollar deal with Google Cloud (GOOG). (00:25) KFC (YUM) expanding its $5 Value Meal to take on McDonald’s (MCD) in price wars. (01:10) J&J (JNJ) makes headway in settling talc baby powder litigation: reports. (01:58)
This is an abridged transcript of the podcast.
Workplace experience platform CXApp (NASDAQ:CXAI) is up 63% premarket as it signed a multi-year, multi-million dollar agreement with Google Cloud (GOOG).
This agreement entails the development and delivery of advanced AI infrastructure, security, and application products. Google Cloud will also co-invest with CXApp (CXAI) in the continuous deployment, monitoring, and modernization of the AI-native CXAI platform.
“Given the momentum we see in the market with our customers and enhanced upcoming offerings, including our AI-based analytics platform CXAI VU, the Google Cloud agreement positions us to deliver our commitments to our customers. We are super-excited about this partnership as it provides us access to all the latest Google AI innovations that we plan on adapting to revolutionize the workplace market with amazing employee experiences.” said Khurram Sheikh, Chairman and CEO.
KFC (NYSE:YUM) is expanding its $5 Value Menu to include chicken nuggets, Famous Bowls, and more deals on its digital platform.
In an effort to lure in price-sensitive consumers and compete with McDonald’s (MCD) $5 Meal Deal, the restaurant chain now offers eight chicken nuggets with fries, or Famous Bowl with nuggets, or a two-piece drum and thigh meal, each for $5.
“As customers are looking for more value from brands, we’re expanding our Taste of KFC lineup with new KFC fan favorites for just $5,” CMO of KFC U.S. Nick Chavez said in a statement.
In addition, beginning September 5 to coincide with the start of football season, KFC (YUM) will offer free delivery on Thursdays for any order on the KFC app or on KFC.com.
Burger King (QSR) has the $5 Your Way Meal which made its debut around the same time that the McDonald’s meal deal was introduced. Wendy’s (WEN) $5 Biggie Bag has been around a few years.
Johnson & Johnson (NYSE:JNJ) has reportedly made headway in its long-running battle to settle thousands of lawsuits filed over the safety of its talc-based baby powder.
According to a Bloomberg report, over 75% of the claimants have voted in favor of a proposed settlement by secret ballot. The settlement would pay $6.5B over 25 years to resolve current and future claims that the product caused gynecological cancers such as ovarian cancer.
J&J has already paid around $5B to resolve allegations that the product was improperly marketed and caused cancers such as mesothelioma. The company has cautioned that it may face thousands more claims in the future, Bloomberg said.
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Catalyst watch:
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Google (GOOG) (GOOGL) will hold its annual Pixel hardware event at the company’s headquarters in Mountain View, California. The company is expected to show off the Pixel 9 and a Pixel 9 Pro Fold.
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Illumina (ILMN) will present a strategy update. The event will feature presentations by members of Illumina’s executive team and conclude with a Q&A session.
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Super Micro Computer (SMCI) will begin its highly anticipated Fourth Annual Open Storage Summit. The three-week summit includes a roundtable keynote session, followed by five focus sessions that showcase influential guests from companies such as Intel (INTC), AMD (AMD), NVIDIA (NVDA), Micron (MU), Samsung (OTCPK:SSNLF), and Japanese chipmaker Kioxia.
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ARS Pharmaceuticals (SPRY), Astria Therapeutics (ATXS), and Compass Therapeutics (CMPX) are some of the companies participating at the two-day Wedbush PacGrow Healthcare Conference.
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Electronic Arts (EA) will release Madden NFL 25. The highly anticipated game will be available on PlayStation 4, PlayStation 5, Xbox One, Xbox Series X/S, and PCs.
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Flutter Entertainment (FLUT) will hold its earnings conference call at 4:30pm. Management is likely to be asked if FanDuel plans to match DraftKings (DKNG) with a surcharge in high tax rates.
Now let’s take a look at the markets as of 6 am. Ahead of the opening bell today, Dow, S&P and Nasdaq futures are in the green. Crude oil is down nearly 0.2% at $79/barrel. Bitcoin is up 1% at $58,000.
In the world markets, the FTSE 100 is flat and the DAX is up 0.2%.
The biggest movers for the day premarket: JetBlue Airways (NASDAQ:JBLU) closed nearly 21% lower on Monday and the decline continues in pre-market trading after the airline announced plans to raise $2.75B in debt to strengthen its finances amid declining profits and sales.
On today’s economic calendar:
Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
