Europe's top court has ruled against Apple (AAPL), ordering the iPhone maker to pay 13 billion euros ($14.4 billion) in back taxes to Ireland, and also upheld a 2.4-billion-euro ($2.7 billion) antitrust fine leveled at Alphabet's (GOOGL) Google; Oracle (ORCL) shares are jumping on better-than-expected quarterly results and a partnership with Amazon's (AMZN) cloud business; 澳洲幸运5官方开奖结果体彩网:meme stock GameStop (GME) 🃏is expected to post declining second-quarter revenue and a wider loss after the bell; and AstraZeneca's () lung cancer drug trial underwhelms. U.S. stock futures are little changed. Here's what investors need to know today.
1. Apple Loses EU Tax Case, Has to Pay $14.4B
The European Court of Justice ruled against Apple (AAPL) and said the iPhone maker had benefited from unfair tax breaks from the Irish government, setting aside an earlier ruling that overturned 13 billion euros ($14.4 billion) in underpaid taxes. Apple lost its final challenge of the 澳洲幸运5官方开奖结果体彩网:European Commission's 2016 order to Dublin to recover the back taxes over "illegal tax benefits" from Ireland over the course of two decades. Shares of Apple, which unveiled its hotly anticipated 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)-powered 澳洲幸运5官方开奖结果体彩网:iPhone 16 Monday, are falling 1% in premarket trading.
2. Europe's Top Court Also Upholds Google's $2.7B Fine
The European Court of Justice also ruled against Alphabet's (GOOGL) Google, which had appealed a 2.4-billion-euro ($2.7 billion) fine for abusing its dominant position and favoring its own shopping services over those of its competitors. Europe's top court upheld a 2017 decision by the European Commission, the executive arm of the 澳洲幸运5官方开奖结果体彩网:European Union (EU). Alphabet sha💞res are litt🐟le changed in premarket trading.
3. Oracle Stock Surges on Q1 Results, Amazon 🅘Partnership
Oracle (ORCL) shares are jumping 8% in premarket trading after the enterprise software company posted 澳洲幸运5官方开奖结果体彩网:better-than-expected fiscal first-quarter resultཧs and announced a partnership with Amazon's (AMZN) cloud business, Amazon Web Services. The software giant's stock has gained more than 30% this year, fueled by 澳洲幸运5官方开奖结果体彩网:growing demand fꦆor i﷽ts cloud services, particularly in AI applications.
4. GameStop Expected to Post Wider Quarterly Loss After🧸 the Bell
GameStop (GME), the video game retailer associated with the 2021 澳洲幸运5官方开奖结果体彩网:meme-stock craze, reports 澳洲幸运5官方开奖结果体彩网:quarterly financial results after the closing bell Tuesday. Analysts expect the company to post declining revenue, a slightly larger net loss, and 23% lower comparꦯable store sales compared with the second quarter of fiscal 2023. Shares are little changed in premarket trading.
5. AstraZeneca Slips as L🔴ung Cancer Drug Disappoints
AstraZeneca () shares are slipping in premarket trading after a 澳洲幸运5官方开奖结果体彩网:Phase 3 trial found the British pharmaceutical firm's lung cancer drug did not significantly improve patients' overall survival rates. The results from the TROPION-Lung01 trial showed that the overall survival rate "did not reach statistical significance," the company said.