Google's Bard gets an upgrade to catch up with OpenAI's ChatGPT. Jobs report numbers, Alphabet brings Gemini to Bard, GameStop's investing plan update. Chewy as #1 pet pharmacy, Lululemon's business-as-usual quarter, Smuckers' pricing power in peanut butter. Journalist Bethany McLean's insights on COVID's effects. Target and MongoDB stocks on radar for investment.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Gemini, Alphabet's new AI model integrated into its chatbot Bard, is set to enhance the Google Cloud platform and drive enterprise adoption.
GameStop's decision to allow company leadership to invest company cash in public stocks has raised concerns about diverting focus from turning the business around.
Deep dives
Big macro and jobs report: Strong employment numbers and moderate wage growth
The first Friday of the month brought a fresh jobs report, which showed stronger job creation and a decrease in the unemployment rate. The focus is on wage growth as an indicator of inflation, with a 0.4% increase for the month and 4% increase from a year ago. These numbers suggest a moderate and controllable level of inflation, which bodes well for a soft landing in the market.
Google's generative AI move: Launch of Gemini AI model in chatbot Bard
Google parent Alphabet has publicly launched Gemini, an AI model integrated into its chatbot Bard. This move comes amidst an ongoing rivalry between Google, Microsoft, and AWS in the field of generative AI. Gemini 1.0, with its ultra, pro, and nano variants, has garnered positive market response, with Google's investment in AI poised to drive enterprise adoption and further enhance the Google Cloud platform.
GameStop's puzzling cash investment: Company leadership allowed to invest company cash in public stocks
GameStop's announcement that company leadership, including Ryan Cohen, can use company cash to invest in public stocks raised concern. This unusual move has been criticized as diverting focus from the company's primary goal of turning its business around. Although cost cuts have helped narrow losses, recent sales have declined, indicating the need for additional strategies to generate value. The investment act constraints and the impact on Ryan Cohen's role as a key figure in GameStop's future also adds to the intrigue.
Earnings updates: DocuSign's steady growth, Chewy's rebound, and Lululemon's success
DocuSign reported steady growth in revenues and improved profit margins. They are positioning themselves as leaders in e-signature and contract lifecycle management. Chewy's net sales increased, gaining market share, and capitalizing on recurring revenue through auto-ship customer sales. Lululemon's revenues rose, with strong growth in their women's business, accessories, international markets, and comp sales. Challenges remain, including Men's segment growth and maintaining their market-leading position.
Google’s Bard just got an upgrade, can it catch up to OpenAI’s ChatGPT?
(00:21) Ron Gross and Andy Cross discuss:
- New jobs report numbers, Alphabet’s latest AI move bringing Gemini into Bard, and GameStop’s curious corporate investing plan update.
- Chewy’s status as the #1 pet pharmacy in the U.S., Lululemon’s business-as-usual quarter, and Smuckers showing it has pricing power in peanut butter.
(19:11) Journalist and author Bethany McLean’s talks with Deidre Woollard about her latest book “The Big Fail” and takes a look at the past three years, how we responded to COVID, and the lasting effects on households, businesses, and the economy.
(33:05) Ron and Andy break down two stocks on their radar: Target and MongoDB.