Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US Stocks Rose on Thursday. Each of the three major indexes rose, with the S&P 500 and Nasdaq Composite gaining roughly 2% as the market comeback gained momentum.

• 📈 | One Notable Gainer: Shares of Ulta Beauty soared 11% higher after Warren Buffett’s Berkshire Hathaway reported a $266 million stake in the makeup brand in a recent filing.

• 📉 | One Notable Decliner: Terran Orbital’s stock plummeted 39% following news that Lockheed Martin will take the spacecraft manufacturer private in a $450 million deal, which is just a quarter of its prior offer.

• 💸 | Tomorrow's Trade: Google's Hidden Agenda. Scroll down for more.

Plus, today’s partner reveals the one emerging tech that could be key to Amazon’s future success. Click here to learn more!

MARKET MOVERS

Amazon, Walmart, & Deere

AMZN (+4%) Amazon received the green light to test-fly drones beyond line of sight in the UK, a milestone for drone deliveries (The Guardian)

UHAL (+3%) According to a securities filing released yesterday, Trian Fund Management added a nearly $80 million position in U-Haul during Q2 (CNBC)

WMT (+7%) Walmart’s stock jumped higher after beating Q2 sales estimates and raising its outlook as higher-income consumers continue to shop (YF)

CSCO (+7%) Cisco Systems exceeded expectations in its latest quarterly results, calling out demand related to artificial intelligence (MW)

DE (+6%) Deere reported third-quarter earnings today that fell year-over-year but still managed to beat analyst estimates (Investopedia)

TOGETHER WITH THE MOTLEY FOOL

You missed Amazon. You don't have to again.

Amazon, once a small online bookstore, grew into a global behemoth, transforming industries along the way. Now, imagine yourself at the forefront of the next revolution: AI. In The Motley Fool's latest report, uncover the parallels between Amazon's early trajectory and the current AI revolution. Experts predict one of these AI companies could surpass Amazon's success with market caps nine times larger. Yep, you read that right. Don't let history repeat itself without you. Sign up for Motley Fool Stock Advisor to access the exclusive report.

Sign up today

OVERHEARD ON THE STREET

CNBC: Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock as he departs Chipotle.

FT: 26 Wall Street companies have agreed to pay $393mn to the SEC to settle charges over using platforms like WhatsApp to discuss business matters.

WSJ: Natron Energy plans to invest $1.4 billion to build its first big sodium-ion battery factory in North Carolina.

CNBC: Stifel strategist who called this summer pullback sees correction getting to at least double digits.

NYP: Subway has called an emergency meeting with franchisees of its 19,000 North American sandwich shops as they grapple with faltering sales and profits.

TOMORROW’S TRADE IDEA, TODAY

Google’s Hidden Agenda

New AI Capabilities

On Tuesday, Google (GOOG) launched the newest version of its Pixel smartphones. Despite getting rave reviews, the phones typically generate very little sales volume.

Even with low overall sales expectations, these phones will provide Google with something different: the opportunity to utilize generative AI.

The phones feature new AI capabilities like a screenshot-scanning app and an image-generating app dubbed Pixel Studio. The tech giant plans to offer its AI chatbot Gemini Live on compatible Android phones, with a version for Apple devices already in the works.

There’s a Catch

There’s one caveat to the innovation: AI capabilities like Gemini Live and others will only be available to subscribers to Google’s Gemini Advanced Plan, which costs $20 per month. Historically speaking, Google has been much more successful selling previously free services than selling smartphones.

This service could grow the tech company’s recurring revenue stream.

Stiff Competition

These announcements evidenced a clear attempt by Google to compete with Apple (AAPL), which is set to unveil its newest iPhones, complete with its new AI software, Apple Intelligence, this fall.

Despite lagging in the smartphone department, Google boasts the world's largest distribution network for new technologies thanks to its search engine, Gmail, and Android.

The Alphabet subsidiary’s AI technologies are set up to compete with Apple, and the revenue that comes with them could be a growth catalyst for its stock.

TOGETHER WITH THE MOTLEY FOOL

You missed Amazon. You don't have to again.

Amazon, once a small online bookstore, grew into a global behemoth, transforming industries along the way. Now, imagine yourself at the forefront of the next revolution: AI. In The Motley Fool's latest report, uncover the parallels between Amazon's early trajectory and the current AI revolution. Experts predict one of these AI companies could surpass Amazon's success with market caps nine times larger. Yep, you read that right. Don't let history repeat itself without you. Sign up for Motley Fool Stock Advisor to access the exclusive report.

Sign up today

ON OUR RADAR

AP: The White House says deals have been struck to cut the prices of popular Medicare drugs, which cost $50 billion annually.

Forbes: Google deleted an app on millions of Pixel phones that was deemed dangerous in a new spyware warning.

The Verge: More bad news for Google… Judge James Donato said he will “tear the barriers down” on Google’s app store monopoly.

QZ: A ton of Social Security numbers got stolen as hackers took 3 billion private records from a background check company.

WaPo: Kamala Harris is set to propose a ban on “price gouging” for food and groceries.

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on Parker-Hannifin (PH) over the next 12 months?

🟩🟩🟩🟩🟩🟩 Bullish 🐂 

🟨⬜️⬜️⬜️⬜️⬜️ Bearish 🐻