Walmart's recent earnings guidance disappointed Wall Street, leading to a dip in the stock market. Despite this, the retail giant continues to see steady sales growth, particularly among households earning over $100,000 annually. Meanwhile, Amazon has made headlines with its significant acquisition of MGM for $8.45 billion, securing distribution rights for the iconic James Bond film franchise. This move signals Amazon's growing influence in the entertainment industry. OpenAI also reported a surge in its user base, reaching 400 million weekly active users, marking a 33% increase since December.
Walmart's fiscal fourth quarter revealed market share gains from wealthier households, yet its underwhelming earnings forecast contributed to a decline in stock prices on Thursday. The S&P 500 showed a slight increase of 0.1% this week, contrasting with declines in the Nasdaq and Dow of 0.3% and 0.8%, respectively. Investors expressed concerns about Walmart's profit outlook, which overshadowed its positive sales trajectory.
Amazon's acquisition of MGM for $8.45 billion is a strategic move to bolster its entertainment offerings. This deal grants Amazon distribution rights to the James Bond franchise, a significant addition to its content library. The franchise will now be co-owned by Michael Wilson and Barbara Broccoli alongside Amazon's MGM Studios, promising new ventures and agreements for the beloved spy series.
OpenAI's rapid growth reflects its increasing popularity and utility among users. Brad Lightcap commented on this trend:
"People hear about it through word of mouth. They see the utility of it. They see their friends using it," – Brad Lightcap
The AI company's user base has expanded significantly since December, highlighting its appeal and relevance in today's tech landscape.
In other news, President Donald Trump is exploring alternatives to Boeing for Air Force One planes due to dissatisfaction with long delivery delays. Despite this, airline customers remain content with Boeing's offerings. Boeing CEO Kelly Ortberg acknowledged the President's concerns, stating that the company is addressing the issues:
"is actually helping us a lot in working through the requirements" – Kelly Ortberg
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