Morning Brief
Google wins the antitrust case, bond yield spikes, and retail splits
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Show notes
Google parent Alphabet (GOOG) rallies after a judge ruled it will not have to divest Chrome in the DOJ’s antitrust case, though the company must end exclusive search deals. The decision also lifted Apple (AAPL), which benefits from its search partnership while gaining room to work with AI rivals. US bond yields climb, with the 30-year brushing 5% amid inflation, deficit, and geopolitical concerns. Macy’s (M) jumps on its strongest same-store sales growth in 12 quarters and raised guidance, while Dollar Tree (DLTR) slips despite a beat and higher full-year outlook as its Q3 profit forecast disappoints. In trending tickers, Campbell Soup (CPB) rises on better-than-feared results, Polestar (PSNY) posts a wider loss but reaffirms growth targets, and Kraft Heinz (KHC) gets an upgrade as it prepares to split into two companies.
Takeaways:
Google avoids Chrome breakup but faces new competition in AI search
Bond yields near 5% as markets price in long-term inflation risks
Macy’s rallies on strong sales; Dollar Tree sinks on soft profit outlook
Campbell Soup, Polestar, and Kraft Heinz move on earnings and upgrades
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