Snap

Snap shares jumped 15% after Q3 earnings beat revenue expectations with $1.51 billion and the announcement of a $500M stock repurchase program. A key driver is a partnership with Perplexity AI, integrating its search into Snapchat in 2026 for $400M, enhancing user experience and AI platform capabilities. While Q4 sales are projected at $1.68-1.71B, the company acknowledged potential user engagement declines due to regulations and platform changes. Snap is also creating a subsidiary for Specs AR glasses.

This report highlights key market-moving news. Palantir exceeded expectations, driven by AI demand, but saw a stock pullback despite strong results. Yum Brands considers selling Pizza Hut after sales decline. Kimberly-Clark plans to acquire Kenvue for $48.7B, sparking mixed market reactions. The Trump administration will partially fund SNAP benefits amidst a government shutdown. Starbucks partners with Boyu Capital in China to revitalize sales. Stellantis invests $13B in US operations.

FTC Commissioner Slaughter publicly questioned the status of an FTC complaint against Snap’s AI chatbot, filed with the DOJ earlier this year, citing potential risks to young users. The complaint’s referral was deemed “in the public interest,” yet its progress remains unknown. Slaughter’s remarks underscore growing concerns about transparency and accountability in AI oversight, especially given the potential for harmful content targeting children. The lack of updates from the DOJ or Snap, coupled with internal FTC divisions and political complexities, highlights the challenges of regulating rapidly evolving AI technologies.