Stocks to Watch Today: ServiceNow, WBD, and Ford Motor Company

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Stocks to Watch Today: ServiceNow, WBD, and Ford Motor Company

ServiceNow (NYSE:) surged on strong earnings and AI developments, while Warner Bros. Discovery (NASDAQ:) and Ford Motor Company (NYSE:) faced significant declines.

In today’s trading session, three major companies are making headlines with significant price movements. ServiceNow is surging on positive earnings and AI advancements, while Warner Bros. Discovery tumbles after losing NBA TV rights. Ford Motor Company faces a steep decline following disappointing Q2 results.

ServiceNow Stock Surges on Q2 Earnings and AI Developments

ServiceNow (NOW) shares skyrocketed 13.4% to $828.79 as of 11:14 AM EDT, propelled by strong Q2 and heightened interest in its AI initiatives.

The company reported earnings and revenue that surpassed estimates, increasing its annual subscription revenue forecast.

ServiceNow’s recent acquisition of Raytion, a Germany-based information retrieval technology company, underscores its commitment to enhancing AI-powered search and knowledge management capabilities.

This move and previous acquisitions align with ServiceNow’s strategy to drive global AI transformation. Despite the positive news, the company faced some turbulence as its COO resigned following an investigation into hiring practices.

WBD Stock Takes a Hit After Media Giants Loses NBA TV Rights

Warner Bros. Discovery (WBD) stock plummeted over 5% during Thursday’s trading session after losing its bid for NBA TV rights. The NBA rejected WBD’s matching proposal, opting instead for 11-year agreements with

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, NBC, and Disney, collectively worth an estimated $76 billion.

WBD argues that the NBA “grossly misinterpreted” its contractual matching rights and intends to litigate the decision. Analysts view the loss of NBA rights as a significant ***** to WBD’s linear networks and Max streaming service, with expectations of sharp ad revenue declines starting in Q4 2025.

In response to the news, Macquarie Research downgraded WBD’s stock from “outperform” to “neutral.”

Ford Motor Company Stock Plunges After Q2 Results, EV Business Struggling

Ford Motor Company (F) shares plunged 18.36% to $11.16 as of 11:15 AM EDT following the of its Q2 earnings report. The automaker’s adjusted earnings per share of 47 cents fell short of the expected 68 cents, despite automotive revenue exceeding expectations at $44.81 billion.

Ford’s net income declined to $1.83 billion, or 46 cents per share, compared to $1.92 billion, or 47 cents per share, a year earlier.

The company maintained its 2024 earnings guidance but increased its full-year target for free cash flow.

Ford’s profitability was significantly impacted by increased warranty reserves, which cost $800 million more than the previous quarter.

Despite the challenges, Ford’s traditional business (Ford Blue) and commercial business (Ford Pro) remained profitable, while its electric vehicle unit (Model e) reported losses.

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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our

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prior to making financial decisions.

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