Magnificent 7 earnings season continues Tuesday, with Microsoft's (MSFT) 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) initiatives and spending in investors' sights when the tech giant posts its highly anticipated fourth-quarter results after the bell; shares of chip design giant Arm Holdings (ARM) are slipping further in premarket trading following an HSBC downgrade; CrowdStrike (CRWD) shares are falling on a CNBC report that Delta Air Lines (DAL) has hired top attorney David Boies to pursue potential damages from the cybersecurity firm as well as Microsoft following the global IT outage earlier this month; Advanced Micro Devices (AMD) is expected to post higher second-quarter sales after the bell but the laggard AI chipmaker's outlook will be in focus; and alcoholic beverage company Diageo (DEO) is plummeting after reporting a yearly sales decline. U.S. stock futures are rising ahead of Microsoft's results, which will test the rotation out of big tech, and ahead of the 澳洲幸运5官方开奖结果体彩网:Federal Reserve's signals on the rate-cut path Wednesday. H𝕴ere's what investors need to know today.

1. Microsoft Resu💫lts Awaited After Underwhelming Mag 7 Earnings Last Week

Microsoft's (MSFT) 澳洲幸运5官方开奖结果体彩网:fiscal fourth-quarter earnings will be closely watched when they are released after the bell, especially after last week's disappointing earnings from the first two of the 澳洲幸运5官方开奖结果体彩网:Magnificent 7 stocks that have reported this season: Google parent Alphabet (GOOGL) and Tesla (TSLA). Investors are likely to be watching for Microsoft's 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) initiatives and spending, given Alphabet's 澳洲幸运5官方开奖结果体彩网:high spending on the tech unnerved investors and accelerated a rotation into small caps despite solid results. Microsoft is projected to report revenue up 14.6% year-over-year to $64.37 billion, with 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.93. Investors will watch out for sustained revenue growth fo𝔍r cloud platform Azure, which fueled the tech g🌞iant's earnings beats in previous quarters.

2. Arm Holdings Sli🗹ps F♑urther Following HSBC Downgrade

澳洲幸运5官方开奖结果体彩网:American depositary receipts (ADRs) of chip design giant Arm Holdings (ARM), which reports 澳洲幸运5官方开奖结果体彩网:quarterly results after Wednesday's close, are slipping a further 1% in premarket trading after 澳洲幸运5官方开奖结果体彩网:tumbling more than 5% Monday following a downgrade from HSBC. The investment bank said it sees a short-term downside earnings risk for Arm amid a potential slowdown in Android smartphone momentum and an easing AI narrative. HSBC also raised 澳洲幸运5官方开奖结果体彩网:valuation concerns, noting that the company's stock trades at a sig🍸nificant premium to its large-cap semiconductor peers. Arm shares have retraced around 24% from their reco😼rd close hit earlier this month.

3. Cro🐻wdStrike Falls as Delta Reportedlyꦜ Hires Top Lawyer to Seek Outage Damages

CrowdStrike (CRWD) shares are falling 5% in premarket trading following a CNBC report that Delta Air Lines (DAL) has hired top attorney David Boies to pursue potential damages from the cybersecurity firm as well as Microsoft following the global IT outage on July 19. Boies, chairman of Boies Schiller Flexner, represented the U.S. government in its antitrust case against Microsoft and helped secure same-sex marriage rights in California, CNBC noted. The outage of Microsoft's cloud services triggered by a defective update by CrowdStrike led to the 澳洲幸运5官🧸方开奖结ღ果体彩网:cancellation and delay of thousands of flights worldwide, but Delta was 澳洲幸运5官方开奖结果体彩网:the most heavily impacted of the major airlines. 

4. AMD Expected to Post R🤡ecord Q2 Data Center🃏 Growth

Advanced Micro Devices (AMD) is expected to report 澳洲幸运5官方开奖结果体彩网:higher second-quarter sales and profit after the bell Tuesday, with analysts looking for record data center growth and strong guidance from the chipmaker, whose stock has lagged many of its AI rivals' this year. AMD is projected to report 7% year-over-year revenue growth to $5.74 billion and EPS of $0.21. Analysts are hoping for a strong third-quarter outlook from AMD, which 澳洲幸运5官方开奖结果体彩网:Citi analysts recently cited as among the "most unpopular" within the semiconductor space. AMD shares, which 🍃are edging higher in premarket trading, are down around 5% this year.

5. Diageo Plunges as Johnnie Walker Makerꦍ Posts LatAm, North A༺merican Weakness

Diageo (DEO) 澳洲幸运5官方开奖结果体彩网:America🍸n Depositary Receipts (ADRs) are plunging 7% after the alcholic beverage giant posted a drop in its full-year sales through June, dragged lower by declines in Latin America and the Caribbean (LAC) and a weak North American market. 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Debra Crew said while the British spirit firm's growth in Europe, Africa, and Asia Pacific was "resilient," its fiscal 2024 was hit by the "materially weaker" LAC sales and North American declines, "attributable to a cautious consumer environment and the impact of lapping inventory replenishment in the prior year." The company, whose brands also include Guinness and Smirnoff, reported yearly net sales declined 1.4% to $20.3 billion, and noted that the "consumer environment continues to be challenging with conditions we saw towards the end of fiscal 24 persisting into fiscal 25."