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- 📉 The Nasdaq tanked
Today, I learned that my alma mater (UCLA) was chosen to finish last in their new conference. How’s your day going?
In the world of big data, less is more
As the volume of data generated by generative AI and IoT devices grows, companies struggle to handle the onslaught.
They try to maintain a balance between reducing data size and preserving quality and speed, but it doesn't always work:
Spotify faces challenges due to its vast library and a desire to hear music in high quality
Apple's iCloud photo library faced user backlash as their compaction resulted in lower resolution and quality of stored images
Most recently, Elon Musk's live interview with Donald Trump crashed X servers, leaving millions unable to listen
Atombeam has developed a groundbreaking approach to data compaction that reduces data size by up to 75% without any loss of information.
Data compaction is critical to efficiently process big data.
Why Invest in Atombeam?
High demand: With the explosion of IoT devices and big data, efficient data handling is more critical than ever.
Government contracts: AtomBeam was awarded two Phase II contracts totaling $2.4 million from the US Space Force and Air Force Research Laboratory to develop Neurpac for use in military satellites and aircraft
Patents: AutoBeam holds 50 issued and allowed patents, and 62 more pending.
Scalability: AtomBeam’s technology is a force multiplier for machine data communications, enabling up to 2-4x more data to be sent over existing networks
Atombeam has raised $4.5m, and you can invest in their latest round starting at $648
You should read the Offering Circular and Risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
📰 Market Headlines
Tech-led sell-offs intensified as investors braced for Powell's Jackson Hole speech on Friday.
The Nasdaq plunged nearly 1.7% on Thursday, dragged down by AI chip giant Nvidia, while the S&P 500 fell 0.9%.
Jobless claims rose slightly to 232,000, aligning with expectations.
Mortgage rates dropped to 7.09%, down from 7.16%, bolstering the case for potential future rate cuts.
The FDA approved updated COVID-19 vaccines from Pfizer and Moderna targeting the KP.2 variant.
Elon Musk revealed that X has lost nearly 50% of its ad revenue over the past year due to content moderation changes.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
Second day in a row with a nil result.
What you had to say:
“Friends work there; son going to university there.”
📈 Trends you need to know
🧠 What do you think?
Your next international holiday will be to |
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Ross Stores beat Q2 estimates and raised its annual profit forecast; shares jumped nearly 6%.
Peloton narrowed quarterly losses and saw subscription revenue rise 2.3% as shares soared 35%.
Advance Auto Parts sold its Worldpac unit to Carlyle Group, cut annual forecast; shares plummeted 17%.
Cava reported Q2 net income and saw 14.4% same-store sales growth; shares climbed 7%.
Intuit beat Q4 estimates; shares rose 3%.
Workday surpassed Q2 expectations, but shares fell 3.69%.
BJs takes a tumble, disappointing expectations as shares went down 1.8%.
Red Robbin tops revenue estimates, but shares plummeted 19.49%
Viking Therapeutics exceeded analyst expectations in Q2, however, shares dipped 0.48%.
Market movers
Shein's recent audits uncovered two cases of child labor among its suppliers as the company intensifies its oversight efforts.
Nestle replaced CEO Mark Schneider with company veteran Laurent Freixe after cutting its full-year sales outlook last month.
Ecovacs agreed to fix security flaws in its vacuum and lawn mower robots that could allow hackers to spy on owners.
Mineral sold its agricultural technology to John Deere after ceasing operations due to market concerns.
Cruise recalled its 1,194 self-driving cars to resolve braking issues, closing a two-year federal safety probe.
The SEC fined Carl Icahn $500,000 for failing to disclose billions in personal loans pledged against his company's stock.
Ideas, trends, and analysis
Americans now believe it takes a net worth of $2.5 million to be considered wealthy, up 14% from last year.
A landmark study found only 63 out of 1,500 climate policies significantly reduced emissions.
42 million Americans, or 13%, now identify as multiracial, up from just 2% in 2000.
🌍 Global Perspectives
🇺🇦 🇷🇺 Ukraine carried out a night-time drone attack on a Russian military airfield near Volgograd.
🇮🇱 🇵🇸 Bullets were found in the bodies of six Israeli hostages retrieved from Gaza.
🇮🇳 🇵🇱 Indian Prime Minister Narendra Modi urged diplomatic efforts to end the Ukraine war during talks in Poland.
🇺🇸 🇨🇳 The US charged a former Chinese democracy advocate with being an illegal agent for Beijing, facing up to 20 years in prison.
📊 Crypto
Former President Trump’s family unveiled a new DeFi platform called "The Defiant Ones," which aims to disrupt traditional banking.
Spot Ether ETFs recorded their longest outflow streak of five days, losing $92.2 million.
Binance and former CEO CZ face a new class-action lawsuit from crypto investors alleging the exchange failed to prevent money laundering of their stolen assets.
CluCoin founder pleaded guilty to stealing $1.1 million of investor funds for online gambling.
🧠 Errata
Botswana unearthed a massive 2,492-carat diamond, the largest found in over a century.
HPV vaccine coverage among US teens plummeted since 2020, with only 61.4% up to date in 2023.
A California hospital told a family their daughter had checked out when she'd died, hiding her death for a year.
A New Jersey woman climbed into a zoo's tiger exhibit to taunt a 500-pound Bengal.
📺 What to Watch Today
Have we not learned our lesson with Harambe?
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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