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SpaceX Falls, New York Times Sinks, Booking Rises
Description
Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- SpaceX (SPCX) shares fell after the company disclosed higher-than-expected spending on its artificial intelligence business. The company's capital expenditures soared to $28.5 billion in the first half of the year, with the vast majority of expenditures steered toward AI. SpaceX generated $3.38 billion in revenue from artificial intelligence during the first six months of the year, less than half what its connectivity business brought in during that span.
- New York Times (NYT) shares fall as much as 15%, the biggest intraday drop since February, after the news company reported higher than expected operating expenses.
- Booking (BKNG) shares are up 5.5% in extended trading after the online travel agency reported gross bookings for the second quarter that beat the average analyst estimate. The company said healthy global travel trends continued into the third quarter despite the ongoing conflict in the Middle East.
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