Top US stocks to watch: Alphabet, GameStop and Plug Power

Alphabet comes under the regulatory spotlight again, GameStop capitalises on the surge in its share price, Plug Power misses expectations, Delta Air Lines plans to rent 1,000 new pilots, Europe orders more Moderna vaccines, and Sanderson Farms might be exploring a purchase .
Regulators within the European Union have launched a fresh investigation into Alphabet’s Google to think about whether its dominance within the digital advertising market is stifling competition by favouring its own online services over that of rival publishers, advertisers and tech firms.

Separately, YouTube is celebrating a win after Europe’s top court ruled that online platforms aren’t responsible for people uploading unauthorised work without copyright unless they fail to require swift action to get rid of it. The court said platforms might be liable if they are doing not make an attempt to introduce new measures to stop infringement of copyright .

‘As currently stands, operators of online platforms don’t , in theory , themselves make a communication to the general public of copyright-protected content illegally posted online by users of these platforms,’ the EU Court of Justice said. ‘However, those operators do make such a communication in breach of copyright where they contribute, beyond merely making those platforms available, to giving access to such content to the general public .’

GameStop said it’s raised $1.12 billion by selling 5 million shares within the ‘at-the-market’ offering because the company capitalises on the surge in its share price to boost funds to fuel its plans to show the business around and make it fit the digital age.

GameStop had told investors back in April that it might issue up to an extra 5 million shares after it raised $551.7 million by issuing 3.5 million shares that month. GameStop shares are up over 1,000% since the beginning of the year and have risen over 18% since it completed the last equity raise.

The news comes at some point after GameStop’s new chief executive Matt Furlong, one among variety of Amazon executives recruited in recent months to spearhead its new strategy, formally took his position on the board of directors.

Plug Power
Hydrogen firm Plug Power missed expectations within the half-moon of its new fiscal year after facing variety of operational challenges that it hopes will abate because the year goes on.

Gross billings rose to $73.7 million from $43.0 million the year before, but that missed the $76.9 million expected by Wall Street. Its pretax loss of $60.7 million was wider than the $37.5 million loss booked the year before and came in much larger than the $44.9 million loss forecast by analysts. It reaffirmed its raised guidance for the full-year.

It was a busy quarter for the corporate , which raised $2 billion from shareholders and secured an extra $1.6 billion from Korean outfit SK Group. It also struck a replacement partnership with Renault and unveiled plans to create the most important green hydrogen production facility within the US in Western ny , where it’ll also build the primary PEM and electrolyzer Gigafactory.

Delta Air Lines
Delta Air Lines is preparing to rent over 1,000 pilots by next summer, consistent with a memo seen by Reuters.

The report said Delta is expecting US leisure visit return to pre-pandemic levels this month which business travel continues to recover, paving the way for it to report a pretax profit within the last half of 2021. The note sent to employees by chief of operations John Laughter said it had been ‘remarkable’ that Delta Air Lines was getting to return to profit in June, just 15 months after suffering the most important crisis to hit the aviation industry in history.

Notably, the news comes only one day after it had been reported that American Airlines had to cancel many flights over the weekend and trim its flight schedule in July by 1% due to a shortage of staff also as increased maintenance and weather-related problems.

The European Commission has exercised an choice to buy 150 million further doses of Moderna’s coronavirus vaccine and is functioning on a replacement deal to secure supplies for ‘new generation vaccines’ designed to tackle evolving variants of the virus.

The doses are going to be delivered in 2022 and form a part of the 300-dose order outlined in February. President of the ecu Commission Ursala von der Leyen confirmed the news via a tweet and said the new negotiations would make sure the bloc has the pliability to secure adapted vaccines to guard people from new variants.

Sanderson Farms
Chicken producer Sanderson Farms is considering selling-up, consistent with reports from the Wall Street Journal.

The company is assumed to be exploring a purchase after attracting interest from buyers as a results of rising demand for its products as restaurants reopen. Continental Grain, an agricultural investment company that owns a smaller chicken processor named Wayne Farms, is assumed to be among those interested.

If Continental Grain made a move and was successful, it might create the second largest chicken firm within the country in terms of volumes, only narrowly behind Pilgrim’s Pride.

Pear Therapeutics
Pear Therapeutics is getting to go public by merging with SPAC Thimble Point Acquisition during a deal which will raise $400 million for the business and provides it a worth of around $1.6 billion.

The company has developed app-based therapy to assist people with the likes of insomnia or drug abuse , which it believes has huge potential when combined with traditional pharmaceuticals.

The company is backed by Softbank, which has said prescription digital therapeutics ‘are creating a replacement category of medicine’.

Quanergy Systems
Quanergy Systems, a developer of self-driving car technology, is preparing to travel public by merging with SPAC CITIC Capital Acquisition to boost $278 million and value the business at around $1.4 billion.

The company provides LiDAR systems and 3D perception software and said its CMOS OPA solid state technology utilized in its LiDAR sensors is ‘poised to rework the automotive and IoT industries by driving down the value of solutions while enabling powerful levels of automation and insights.’

The deal is predicted to shut within the last half of 2021.