Walmart's latest earnings guidance has left Wall Street less than impressed, despite the retailer's steady sales growth. Meanwhile, Amazon's acquisition of MGM for $8.45 billion has stirred the entertainment industry. The tech giant now holds distribution rights for MGM's films and is poised to take creative control over the James Bond franchise. In the tech realm, OpenAI's user base has surged, marking a significant 33% increase since December.
Walmart has seen market share gains during its fiscal fourth quarter, particularly among households with annual incomes exceeding $100,000. This demographic shift, however, hasn't translated into heightened investor enthusiasm as expectations for earnings guidance fell short. Despite this, Walmart continues to maintain a steady sales trajectory.
Amazon's strategic acquisition of MGM has granted it not only distribution rights but also creative influence over the iconic James Bond franchise. Under a new agreement, Michael Wilson and Barbara Broccoli will co-own the franchise alongside Amazon's MGM Studios. This move positions Amazon as a formidable player in the film industry, potentially reshaping the future of one of cinema's most enduring characters.
The technology sector also saw significant developments as OpenAI reported 400 million weekly active users, a remarkable 33% increase from December figures. Brad Lightcap attributed the rapid growth to word-of-mouth marketing and the utility observed by users and their peers.
"People hear about it through word of mouth. They see the utility of it. They see their friends using it," – Brad Lightcap
On Wall Street, the S&P 500 showed a slight increase of 0.1% this week, while both the Nasdaq and Dow registered losses of 0.3% and 0.8%, respectively.
In aviation news, President Donald Trump is exploring alternatives to Boeing planes, expressing dissatisfaction with long delays in delivering new Air Force One aircraft. Despite this presidential frustration, airline customers appear increasingly satisfied with Boeing's offerings.
Boeing CEO Kelly Ortberg acknowledged Trump's discontent but noted that ongoing discussions are proving beneficial.
"is actually helping us a lot in working through the requirements" – Kelly Ortberg