AT&T Lower Despite Beat; GE Vernova Higher; Meme Stock Mania

On this episode of Stock Movers:
- AT&T (T) is lower even though it posted an earnings beat this morning. AT&T reported second-quarter results that mostly exceeded Wall Street estimates, including faster-than-expected growth in wireless phone subscribers. The company added mobile-phone customers and picked up new customers for its "Internet Air" fixed-wireless offering, topping market expectations. Its competitor Verizon posted poor subscriber numbers earlier.
- GE Vernova (GEV) is higher this morning after it forecast revenue for the full year of high end of $36 billion to $37 billion, saw $36 billion to $37 billion. Positive free cash flow was driven by stronger adjusted EBITDA but decreased y/y due to a nonrecurring arbitration refund received in 2Q24 and lower positive benefit from working capital
- Texas Instruments (TXN) is plunging after the company issued a third-quarter forecast that was more guarded than some investors had anticipated. The main concern is whether tariffs and trade disputes will hurt a sales resurgence, with executives acknowledging they don't know how much of the 16% revenue jump came from tariff-related "pull in."
- GoPro (GPRO) 1-800-Flowers.com (FLWS) and Krispy Kreme (DNUT) are all soaring in early trading on meme stock mania. Daniela Hathorn, senior market analyst at Capital.com, says the surges have been driven by a mix of social media buzz, short squeezes, and technical breakouts, despite little to no change in the companies' underlying business fundamentals. Hathorn adds, "Krispy Kreme seems to be the latest addition to the frenzy", with no significant news to justify the rally, just "sheer retail momentum".

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