With corporate earnings now in full swing, Paul Durrans, Investment Director, looks at some big names reporting within Technology, Consumer Discretionary and Industrial sectors. Tesla and Google were the first of the seven giant US tech companies to announce second quarter earnings results. Tesla disappointed investors as profits dropped 45% as it faced higher costs from employee lay-offs, slower sales and heavy investment into AI infrastructure. In contrast, Google exceeded analyst expectations with boosted advertising and cloud computing services demand. Turning to Luxury brand LVMH (Louis Vuitton Moet Hennessy) sales growth slowed as wealthy shoppers reined in spending. We then finish with United Parcel Service (UPS) that saw its shares fall the most in 15 years after they missed profit estimates.

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