Apple shares fell after China bann﷽ed iPhone use for government employees and GameStop shares jumped after the meme stock narrowed its losses on cost cutting measures. Here’s what investors need to know today.

1. GameStop Shares Jump as Cost Cutting Helps Meme S🃏tock Narrow 𝓀Losses

GameStop (GME) shares gained 5% in pre-market trading after it narrowed its quarterly loss to $0.03 a share, better than the $0.14 a share loss that analysts forecasted, on sales of $1.16 billion that beat forecasts of $1.14 billion. GameStop cut expenses to 27.7% of sales, lower than the 34.1% costs that the company reported during the same quarter last year.

2. Apple Shares Fall 💫as China Ban🎶s iPhone Use for Government Employees

Apple (AAPL) shares fell 3% as China ordered officials at its central government agencies 澳洲幸运5官方开奖结果体彩网:not to use the iPhone or other foreign-branded devices for work or bring them into the office. The move is part of the government to limit the country’s reliance of foreign technology and threatens Apple’s position in a market where it gets 19% of its overall revenue.

3. C3.ai Share🌌s Dive After Forecasting Greater Losses

Shares of 澳洲幸运5官方开奖结果体彩网:artificial intelligence software provider C3.ai (AI) plummeted 10% in pre-market trading after it forecasted a larger full-year loss than previously expected and withdrew its forecast of reaching profitability by the end of fiscal 2024, citing increased investments in lead generation and branding for its Generative AI application. For its April 2024 fiscal year, C3.ai adjusted its loss from operations to between $70 million and $100 million, compared with the previous forecast of $70 million to $100 million, and higher than analyst estimates of $64 million.

4. UiPath R💞eports 19% Revenue Growth on AI ‘Ta🐲ilwind’

UiPath (PATH) shares climbed 5% after the automation software company beat expectations for revenue growth, citing AI as a “tailwind.” The company reported 澳洲幸运5官方开奖结果体彩网:quarterly earnings of $0.09 a share, better than analyst estimates of $0.04,  along with a 19% growth in revenue to $287.3 million, better than expectations of $281.5 million.

5. Fed Officials Set to Speak on Economy a🐓s Initial Jobless Claims Expected to Rise

At 8:30 a.m. ET, 澳洲幸运5官方开奖结果体彩网:initial jobless claims are expected to rise to 230,000 for the week ending September 2, up from 228,000 the prior week, while U.S. productivity for the second quarter is expected to be revised down to 3.4% from 3.7%. Also today, several Federal Reserve officials are scheduled to speak, including Dallas Fed President Lorie Logan, Philadelphia Fed President Patrick Harker, Atlanta Fed President Raphael Bostic, New York Fed President John Williams, and Chicago Fed President Austan Goolsbee.