Tesla Plunges Most in a Year on Investor Angst Over AI Spending

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-Kevin Tynan, Director of Research at The Presidio Group, recaps Tesla earnings. Tesla  shares tumbled after disappointing quarterly results raised questions about Elon Musk’s plan to refocus the electric vehicle maker on artificial intelligence and robots. Profit fell short of Wall Street’s estimates for the period as spending on ambitious initiatives surged to $5.8 billion, resulting in Tesla’s first cash burn in two years.

-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, recaps Alphabet earnings. Alphabet raised its capital spending forecast to a range of $195 billion to $205 billion this year, up from a previous forecast of $190 billion.  The company's quarterly cash flow was negative for the first time since going public, with negative free cash flow of $5.9 billion in the period, and its cloud revenue totaled $24.77 billion, up 82% from a year earlier.

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Comcast earnings. Comcast reported ongoing losses of cable-TV and broadband customers as it prepares to spin out its film and TV business. The company's media division was the clear bright spot in the second quarter, providing a plethora of must-see events that helped boost revenue by 25%.

-Madison Muller, Bloomberg News Health Reporter, discusses Eli Lilly’s obesity shot clearing another hurdle. Eli Lilly & Co.'s next-generation weight-loss shot retatrutide didn't increase overall heart risk in a new study, helping dispel concerns over its potential. The company plans to file for US Food and Drug Administration approval early next year, later than investors hoped, due to the complexity of the approval pathway.

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