Tonight’s Highlights | U.S. Stock Futures Edge Higher, Super Micro Computer Plunges Over 16% Pre-Market

On Wednesday, U.S. stock index futures edged higher, with most major European indices also advancing.  

The S&P 500 has fallen in five of the past six trading days, while the Dow has declined in six of the past seven sessions. Tech stocks underperformed on Tuesday, with the Nasdaq dropping nearly 0.7%.  

 

Tuesday’s U.S. July services data, which came in below expectations, weighed on stocks, sparking concerns about stagflation.  

 

Keith Lerner, co-chief investment officer at Truist Wealth, said, “What we need now is a market consolidation.”  

 

He added, “Markets don’t go straight up… but overall, I still believe the underlying trend is positive.”  

 

Among pre-market movers, McDonald’s stock rose 4% after the fast-food giant reported Q2 revenue and profit exceeding expectations, with same-store sales marking the largest quarterly gain in nearly two years.  

Shopify surged 14% pre-market, beating Q2 revenue forecasts.  

Snap stock plummeted 17% pre-market, with revenue slightly below expectations; AMD fell 5%, as adjusted EPS missed analyst estimates; Super Micro Computer dropped over 16%, with Q4 revenue and profit missing forecasts.  

Company News  

Musk: xAI to Open-Source Grok 2 Next Week  

 

On August 6, Elon Musk announced that his AI startup xAI will open-source its chatbot Grok 2 next week.  

 

AWS Launches OpenAI Open-Weight Models  

 

Amazon Web Services (AWS) announced that OpenAI’s open-weight models are now accessible via Amazon Bedrock and Amazon SageMaker AI, enabling customers to quickly build generative AI applications.  

 

OpenAI recently released two open-weight base models, gpt-oss-120b and gpt-oss-20b. The larger model running on Amazon Bedrock offers three times the cost-effectiveness of Gemini, five times that of DeepSeek-R1, and twice that of OpenAI’s o4 model.  

 

LG CNS to Build First Overseas AI Data Center in Jakarta  

 

On August 6, LG CNS, an IT solutions provider under South Korea’s LG Group, announced plans to construct a 100 billion KRW (approximately $72 million) AI data center in Jakarta, Indonesia—the first AI-focused data center built overseas by a Korean firm.  

 

Disney Q3 Revenue $23.65 Billion  

 

Disney reported Q3 revenue of $23.65 billion, slightly below the $23.68 billion estimate, with adjusted EPS of $1.61, beating the $1.46 forecast. Disney raised its FY adjusted EPS guidance to $5.85 from $5.75, above the $5.77 market estimate.  

 

Shopify Q2 Revenue $2.68 Billion, Beats Expectations  

 

Shopify reported Q2 revenue of $2.68 billion, topping the $2.55 billion estimate, with subscription revenue at $656 million (versus $659.1 million expected) and operating profit at $291 million (versus $247.7 million expected).  

 

Uber Approves Up to $20 Billion Share Buyback Plan  

 

On August 6, Uber released its Q2 2025 earnings report, showing $12.7 billion in revenue, up 18% year-over-year, with gross bookings at $46.8 billion (up 17%) and total trips at 3.3 billion (up 18%). The company also announced a new $20 billion share buyback program.