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Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

U.S. indexes ended the week on a high note, taking back ground on yesterday’s losses. The Russell 2K fared the best, climbing three points.

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Market-Moving News 📈

Microsoft Gathers Cybersecurity Firms After Costly Software Glitch

Microsoft is set to host a cybersecurity conference in September following a significant software update mishap by CrowdStrike that led to widespread disruption in July. The faulty update, which affected millions of Windows computers, caused major setbacks across various industries. Airlines had to cancel flights, logistics firms faced delivery delays, and hospitals postponed medical appointments. Delta Air Lines, impacted by the outage to the tune of $550 million, is now pursuing damages from both CrowdStrike and Microsoft.

Scheduled for September 10 at Microsoft’s Redmond campus, the conference will bring together top cybersecurity firms to discuss ways to prevent similar incidents. The summit will focus on shifting applications from relying on Windows’ kernel mode to user mode, reducing the risk of widespread crashes. Kernel mode, while offering deeper system access for security software, can lead to catastrophic failures if compromised, as seen in the July incident.

The discussion will also include emerging technologies like eBPF, which enhances system stability, and memory-safe programming languages like Rust. Notably, Microsoft, which competes with CrowdStrike through its Defender for Endpoint product, will participate alongside other firms without any preferential treatment.

Uber Partners with GM's Cruise to Launch Autonomous Vehicles in 2025

Uber is set to collaborate with General Motors' Cruise to introduce autonomous vehicles on its platform by 2025. Although details are still emerging, the partnership will initially involve deploying autonomous Chevrolet Bolts in a single city. Cruise, which operates a fleet of approximately 1,200 vehicles, has already been active in cities like San Francisco, Austin, Dallas, Houston, and Phoenix. Recently, it resumed supervised autonomous driving in several locations and is also testing in Dubai.

This collaboration adds to Uber's existing partnership with Waymo, highlighting the company's strategy to expand its autonomous vehicle network. Analysts view this move as a positive step for Uber, suggesting that increased competition in the autonomous vehicle market could lead to more favorable partnerships. The introduction of multiple players, including Cruise, Waymo, Tesla, and Amazon’s Zoox, is expected to prevent a winner-take-all scenario, benefiting platforms like Uber that can aggregate demand and optimize asset utilization.

Analysts also believe that the Uber-Cruise partnership has significant potential for expansion into other regions and that Cruise may be the first of several autonomous vehicle partners Uber could collaborate with in the future.

Alaska Airlines Cleared to Move Forward with Hawaiian Merger

Alaska Airlines has moved one step closer to acquiring Hawaiian Airlines as the U.S. Department of Justice (DOJ) has completed its antitrust review without filing a lawsuit to block the deal. This marks a significant milestone in the $1.9 billion merger process, which was first announced eight months ago. Now, the two airlines await approval from the U.S. Transportation Department to finalize the transaction.

If approved, this merger will be the largest U.S. airline combination since Alaska Airlines merged with Virgin America in 2016. The deal would unite the two carriers into a fleet of over 360 aircraft, serving more than 130 destinations.

Despite Hawaiian Airlines facing challenges such as the Maui wildfires, increased competition from Southwest Airlines, and slow post-pandemic recovery in travel to and from Asia, executives remain optimistic. Hawaiian has struggled financially since 2020, but recent booking trends show signs of improvement.

The merger aims to retain both brands while operating under a unified platform. With DOJ clearance, Alaska Airlines sees this as a critical step towards creating a stronger, more competitive airline network.

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Guardion Health Sciences [GHSI] $18.00 (+59.29%)

Guardion Health Sciences announced a cash dividend of $5.00 per share of common stock.

GoHealth Inc [GOCO] $9.93 (+25.54%)

GoHealth shares are up after the company was selected to present and host investor meetings at the 15th annual Midwest IDEAS Conference.

Cava Group [CAVA] $122.00 (+19.63%)

Cava Group climbed after sharing favorable earnings and revenue during its second quarter report.

GD Culture Group Limited [GDC] $5.45 (-29.68%)

GD Culture Group remains volatile despite foray into new audio-to-video AI technology.

Titan Pharmaceuticals [TTNP] $6.13 (-23.37%)

Titan Pharmaceuticals continues to struggle amid poor financial standing and weak profitability.

Gold Fields Ltd [GFI] $14.52 (-7.87%)

Gold Fields sinks after lowering its output target for the second time this year.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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