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  • Stonks: AI anti-trust, $LULU earnings, $ASTS hype, EU cut rates

Stonks: AI anti-trust, $LULU earnings, $ASTS hype, EU cut rates

Author

Michael Luo
June 06, 2024

Here’s the latest “under the radar” stock news from Reddit in the last 24 hours that you don’t want to miss, as picked by Fluid Bot’s AI.

$GME update:

  • $GME is up over 45% today

  • Why? Roaring Kitty has scheduled a live stream for June 7th

Antitrust investigation into NVDA, MSFT, and OpenAI 

  • Justice Department and FTC will investigate Microsoft, OpenAI, and Nvidia for antitrust violations in the AI industry

  • DOJ will investigate Nvidia for potential antitrust violations related to AI chips

  • FTC will investigate OpenAI and Microsoft for their conduct in the AI industry

  • Microsoft has invested $13 billion in OpenAI and has made deals with other AI companies

Lululemon GAAP EPS of $2.54 beats by $0.12, revenue of $2.21B beats by $10M 

  • Lululemon (LULU) reported Q1 earnings that beat expectations

  • Revenue and comparable sales increased

  • Gross margin improved, but operating margin decreased

  • Q2 revenue outlook lower than expected, but still showing growth

  • 2024 revenue and earnings expectations slightly exceeded consensus

  • Stock price increased by 12.24%

Fast-track your retirement with ASTS (AST Spacemobile) 

  • ASTS has successfully invented and proven satellite technology offering broadband connectivity to unmodified phones.

  • The satellite has unfolded correctly, is structurally stable, and has patented cooling solutions preventing overheating.

  • ASTS is progressing on financing, regulatory approval, and securing commercial agreements.

  • Major partnerships with MNOs, including AT&T, Verizon, and Vodafone, cover over 2.5 billion subscribers.

  • Recent strategic partnerships and board appointments indicate potential significant growth for ASTS, making it a strong long-term investment.

Eurozone cuts interest rate for first time in 5 years 

  • The EU cut its lending rate from 4% to 3.75%, following Canada's rate reduction.

  • Central banks have kept rates high for years to combat rising prices but are now cutting to boost the economy.

  • Eurozone rates expected to fall to 3.5% by end of year.

  • UK rates, currently at 5.25%, may also see a cut soon.

  • The Bank of England faces complications with an upcoming election influencing rate decisions.

  • The US Federal Reserve is expected to cut rates despite slightly higher inflation at 3.4%.