Kingsoft Cloud Holdings reports lower revenue and increased adjusted gross profit. Kingsoft held $250.9 million in cash and equivalents as of March-end.
Amazon will reportedly launch a more conversational version of Alexa later this year, potentially positioning it to better compete with Google and OpenAI.
Analog Devices saw a 34% decline in revenue but still beat analyst estimates with an adjusted EPS of $1.40. CEO Vincent Roche is optimistic about a return to growth in the third quarter due to inventory stabilization and new orders. ADI expects third-quarter revenue of $2.27 billion and adjusted EPS of $1.50.
Pseudonymous crypto trader Altcoin Sherpa shared his optimistic outlook on Pepe (CRYPTO: PEPE), highlighting its strong volume and good liquidity as key factors for potential price upside.
General Motors Co. (NYSE: GM) faced a significant setback as the U.S. Court of Appeals for the Federal Circuit overturned a prior ruling in its favor against LKQ Corp. (NASDAQ: LKQ) over fender design patents. This decision marks a major shift in design-patent law, discarding a long-standing test for determining patent validity and remanding the case to the U.S. Patent Office for further review.