Alphabet shares gained 3% in pre-market trading as investors welcomed Google’s launch of Gemini 3, the latest iteration of its AI system and a model the company claims can deliver more accurate responses to complex queries with less guidance from users.
NasdaqGS – Delayed Quote • USD
At close: 24 November at 16:00:01 GMT-5
Google said Gemini 3 will be embedded across its core search products, the standalone Gemini app and its enterprise services. The release marks Google’s most significant upgrade since the rollout of Gemini 2.5 about eight months ago, as the company steps up efforts to accelerate progress in generative AI.
Analysts at Bank of America Securities described Gemini 3 as “another positive step” for Google in closing any “perceived LLM performance gap” with rivals.
The analysts added that “healthy adoption metrics for AI overviews and Gemini indicate Google is successfully funnelling users into its AI surfaces, despite growing competition, and should help ease concerns around potential search disruption,” noting they maintain a buy rating on Alphabet. “While still early to assess the full capabilities of the new model, a few early reviews were positive.”
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Google’s push comes as competitive pressure intensifies. With Gemini 3, the company is aiming to narrow the lead of OpenAI, which ignited the generative-AI boom with the launch of ChatGPT in 2022 and now offers its GPT-5 model.
Broadcom shares rose 1% ahead of the US opening bell, extending momentum after an 11% surge in the previous session, as investors bet on strengthening demand for the company’s AI microchips and processors.
NasdaqGS – Delayed Quote • USD
At close: 24 November at 16:00:01 GMT-5
The stock has been lifted by optimism surrounding Alphabet’s new Gemini 3 AI model. Broadcom is a key supplier of AI chips to the Google parent company, and expectations are building that the search group will increase its processor purchases as it accelerates Gemini 3 adoption.
Broadcom’s custom AI chips have become increasingly important to Alphabet in the rollout of Gemini 3, which has been trained on tensor processing units (TPUs). Analysts say Alphabet’s years-long investment in custom chip development through Broadcom and other partners is now yielding strategic benefits and providing a competitive edge.
Market attention is sharpening around Broadcom’s role as a core supplier for Alphabet’s AI infrastructure. The TPU partnership represents a key revenue stream for Broadcom as Google Cloud expands its AI capabilities.
In a note to clients, Melius Research wrote of Alphabet’s TPUs: “Outside of the Nvidia (NVDA) GPU [graphics processing unit] for AI workloads, the TPU is the most proven AI chip out there – and now it has the most tangible momentum.”
Zoom shares climbed 3% in pre-market trading after finishing flat in the previous session, as the company posted quarterly revenue ahead of analysts’ expectations.
NasdaqGS – Delayed Quote • USD
At close: 24 November at 16:00:01 GMT-5
Zoom’s third-quarter results came in ahead of Wall Street’s forecasts, with adjusted earnings per share rising to $1.52 from $1.38 a year earlier, easily topping estimates. Revenue grew to $1.23bn (£937m), beating predictions and marking a steady climb from last year.
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The company issued an upbeat outlook, projecting stronger fourth-quarter earnings and targeting full-year 2026 earnings per share of $5.97, both above analysts’ expectations. The guidance suggests that demand for video conferencing and digital collaboration tools remains strong, even as hybrid work models become more established.
Zoom chief executive Eric Yuan highlighted the growing adoption of the company’s AI products, a key focus for investors heading into the results.
“Zoom is continuing to build on our vision of an AI‑first platform that helps people connect and collaborate more seamlessly,” Yuan said.
“This quarter we announced AI Companion 3.0, and we’re thrilled to see AI Companion adoption grow meaningfully. We’re also seeing strong momentum with Custom AI Companion and our AI‑first Customer Experience suite, which helped make this one of our best CX quarters, with broad AI adoption across major deals.”
Shares in Novo Nordisk extended their decline in pre-market trading after dropping 5% on Monday, following the failure of its weight-loss pill to significantly slow the progression of Alzheimer’s disease in two major studies.
NYSE – Delayed Quote • USD
At close: 24 November at 16:00:02 GMT-5
The company enrolled 3,808 adults with early-stage symptomatic Alzheimer’s disease in the trials, but the oral version of semaglutide did not outperform a placebo in reducing cognitive decline.
“While treatment with semaglutide resulted in improvement of Alzheimer’s disease-related biomarkers in both trials, this did not translate into a delay of disease progression,” the company said in its news release. Novo Nordisk is cancelling a planned year-long extension study.
The group already sells injectable versions of semaglutide for obesity and type 2 diabetes and is nearing potential US Food and Drug Administration (FDA) approval for its pill version for weight loss.
In London, shares in easyJet were down as the carrier airline warned about economic pressures hitting profitability this winter even as it recorded a better-than-expected annual profit haul.
The Luton-based group posted a 9% rise in headline pre-tax profits to £665m for the year to 30 September, up from £610m in 2023-24 and higher than the £650m most analysts were expecting.
Its growing holidays business was the star performer, with annual earnings surging 32% to £250m, seeing the group meet its earnings target early.
This resulted in the group hiking the earnings target for it holidays arm to £450m by 2029-30.
But annual headline profits at its airline dropped to £415m from £420m the previous year, and it said the carrier’s performance has been “more challenging” to improve than previously hoped, particularly over winter.
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It said this was due to “the pace of route maturity and the wider geopolitical, macro-economic and competitive environment in specific markets”.
EasyJet cut seat capacity growth for its airline for the year ahead, to around 7%, down from 9% in 2024-25.
Richard Hunter, head of markets at Interactive Investor, said: “The share price has not tended to reflect the progress which easyJet has been making, but these numbers are a reminder that the group means business.”
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