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What you’ll read?

• Airlines Boost Forecasts Amid Strong Demand.

• Dollar General Enters Same-Day Delivery Race

• Today in AI & Tech

• CMA Approves Vodafone and Three Merger with Conditions.

  and more…

BUSINESS

Lululemon's Global Gains Amid Slowing U.S. Growth.

Lululemon’s U.S. sales growth slowed, but international markets surged, driving a 9% year-over-year revenue increase to $2.4 billion in Q3. Earnings per share exceeded expectations at $2.87, supported by robust international sales growth of 25%. Despite challenges, including competitive pressures and product missteps, the company is optimistic about holiday sales and continues to strengthen its global presence and profitability.

Airlines Boost Forecasts Amid Strong Demand.

Southwest and American Airlines raised their Q4 forecasts, citing robust demand and higher fares. Southwest expects unit revenue to grow by 5.5%-7% due to network optimizations, while American revised its earnings projection to $0.55-$0.75 per share. Both airlines anticipate strong revenue trends continuing into 2025.

Dollar General Enters Same-Day Delivery Race.

Dollar General has launched DG Delivery, offering same-day delivery at select stores to compete with Walmart and Amazon. Customers can order via the app, using digital coupons and receiving items within an hour. Currently available at 75 stores, the program aims to expand to thousands, leveraging third-party labor while driving app engagement and advertising opportunities.

Ulta Beauty Surpasses Q3 Expectations and Raises Outlook.

Ulta Beauty beat Wall Street expectations with Q3 earnings per share of $5.14 and revenue of $2.53 billion, driven by modest growth in comparable sales and new product launches. Despite raising its full-year outlook, the retailer expects holiday-quarter sales to dip slightly amid economic concerns. Enhanced digital tools and in-store events are helping Ulta maintain its market position.

TECH

Today in AI & Tech

Apple Leverages AWS AI Chips to Boost Efficiency and Explore Pretraining.

Apple is using Amazon Web Services’ (AWS) custom AI chips, including Inferentia and Trainium2, for services like search and AI model pretraining. At AWS's Reinvent conference, Apple revealed these chips improved efficiency by 40% and could achieve up to 50% gains in pretraining. This collaboration highlights AWS’s competitiveness in the AI space as Apple continues to enhance its generative AI capabilities, including its "Apple Intelligence" service.

Thermal Batteries: A Game-Changer for Renewable Energy Storage.

Thermal batteries, using materials like bricks or graphite to store excess solar and wind energy as heat, offer a scalable, cost-effective alternative to lithium-ion batteries. Companies like Rondo Energy are leading the charge, with plans to cut 12 million tons of CO₂ annually by 2027. While the technology promises significant industrial benefits, challenges include high initial costs and market awareness.

SpaceX Faces FCC Objection Over Musk's Russia Ties and Environmental Concerns.

The Ukrainian Congress Committee of America (UCCA) has filed a formal objection with the FCC against SpaceX’s plan to deploy 22,488 additional Starlink satellites. The nonprofit raises concerns over CEO Elon Musk's alleged ties to Russia, the use of Starlink in Russian military operations, and environmental impacts of SpaceX launches in Texas.UCCA's filing also questions Musk's potential conflicts of interest, given his upcoming role in the Trump administration’s Department of Government Efficiency (DOGE). Environmental concerns, including the impact of launches on endangered species habitats, were also highlighted.The petition could delay FCC approvals, requiring further scrutiny of SpaceX operations and Musk's regulatory compliance.

Other

David Sacks Appointed as Trump's AI and Crypto Czar.

Venture capitalist and podcaster David Sacks has been named the White House "AI & Crypto Czar" by President-elect Donald Trump. Sacks will oversee U.S. policies on artificial intelligence, cryptocurrency regulation, and tech innovation while advocating for free speech and reduced Big Tech bias. Known for his ties to Silicon Valley and the "PayPal mafia," Sacks has pivoted from previous Trump criticism to a prominent role in shaping the administration's tech agenda.

Intel Appoints Semiconductor Veterans Amid CEO Search.

Intel has added semiconductor industry leaders Eric Meurice, former ASML CEO, and Steve Sanghi, Microchip Technology’s interim CEO, to its board as it seeks a replacement for ousted CEO Pat Gelsinger. The appointments restore semiconductor expertise to Intel’s board and come as the company navigates cost-cutting efforts and a search for new leadership. Interim co-CEOs David Zinsner and MJ Holthaus are currently steering Intel.

CMA Approves Vodafone and Three Merger with Conditions.

Britain’s competition regulator has approved the £15 billion Vodafone-Three merger, contingent on both companies committing to invest in a combined 5G network. The deal will also require capping mobile tariffs, offering preset terms for MVNOs, and the implementation of these commitments over the next eight years. The merger, creating a market leader with 29 million customers, is expected to be completed in 2025.

Trump’s Reversal on TikTok: Donor Influence and National Security Concerns.

President-elect Donald Trump, who previously warned of TikTok’s national security risks, seemed to change his stance during his 2024 campaign, citing the potential impact on Meta’s Facebook. His comments raised concerns about donor influence, particularly from Jeff Yass, a major Republican donor with financial ties to TikTok's parent company. The debate comes amid ongoing legal challenges to a law requiring TikTok’s parent, ByteDance, to divest U.S. operations by January 2024. Critics warn that a policy shift could prioritize financial interests over public welfare and national security.

Nvidia's Strategic Moves That Reshaped the Semiconductor Industry.

In 2013, Starboard Value invested in Nvidia, pushing for strategic buybacks and a focus on core GPU projects. Though initially wary of Starboard's influence, Nvidia worked with the fund, executing buybacks and driving growth. Later, Nvidia's acquisition of Mellanox in 2019 proved transformative, bolstering its dominance in AI and data-center computing. Mellanox's networking technology, crucial for high-performance workloads, now generates over $12 billion annually, solidifying its legacy as one of Nvidia's smartest acquisitions.

It's a Wrap!

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Sarah