"OpenAI fell short of monthly sales targets in 2026 as Anthropic gained ground in coding and enterprise markets and Alphabet's Gemini gained ground. Partner stocks took the brunt."
"Bloomberg Intelligence's Anurag Rana said the miss 'will have an impact throughout the entire AI infrastructure ecosystem, with Oracle as the most exposed in terms of risk to its financial goals.'"
"Domino's Pizza led S&P 500 declines after cutting U.S. same-store sales guidance, and Spotify dropped 12% premarket on weak premium subscriber growth."
"Coca-Cola kicked off Tuesday with an earnings beat on both the top and bottom lines, as stronger-than-expected beverage demand powered the soft drink giant past analyst forecasts."
The market is experiencing a pullback as investors take profits following OpenAI's missed sales and user targets, affecting tech stocks. The S&P 500 futures fell 0.4%, while Nasdaq 100 futures dropped 0.9%. Domino's Pizza led declines after lowering sales guidance, and Spotify's shares fell 12% due to weak subscriber growth. General Motors exceeded expectations and raised its outlook, while Coca-Cola reported strong earnings, boosting its growth forecast. OpenAI's performance has negatively impacted partner stocks, particularly Oracle, which saw a significant drop in premarket trading.
Read at 24/7 Wall St.
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