GXAI

Stock Performance: Gaxos.AI Inc's shares (GXAI) are experiencing a pullback after a significant rally following the announcement of their new AI platform, Art-Gen.AI.

Art-Gen.AI Overview: The Art-Gen.AI platform is designed for image and video creation, utilizing advanced AI models from Google and Stability AI, enabling users to generate high-quality content from text prompts or reference images.

Key Features: Notable features include one-click upscaling of low-resolution images, dynamic video creation from still photos, and various style presets, with a subscription-based model aimed at capturing market share in the generative AI sector.

Market Reaction: The stock's decline suggests investors are reassessing the initial excitement surrounding the product launch, as they digest the implications of Gaxos.AI's entry into the rapidly growing generative AI market.

Rocket Pharmaceuticals Update: Shares of Rocket Pharmaceuticals surged 15.8% in pre-market trading after the FDA lifted the clinical hold on their Phase 2 trial for RP-A501, aimed at treating Danon disease.

Pre-Market Stock Movements: Several stocks experienced significant changes in pre-market trading, including NovaBay Pharmaceuticals which rose 64.2%, and James Hardie Industries which fell 27% following disappointing quarterly results.

Notable Gainers: Other notable gainers included Propanc Biopharma (up 37.8%) and ScanTech AI Systems (up 36.4%), both benefiting from positive announcements regarding investments and collaborations.

Significant Losers: Stocks that saw declines included Cytosorbents Corporation (down 25.7%) due to regulatory updates, and La-Z-Boy Incorporated (down 22.2%) after reporting weaker-than-expected financial results.

U.S. Stock Market Performance: U.S. stocks declined, with the Nasdaq Composite dropping over 1.5%, while the Dow and S&P 500 also experienced losses.

Medtronic's Strong Earnings Report: Medtronic plc reported better-than-expected first-quarter earnings, with sales of $8.58 billion and adjusted earnings of $1.26 per share, leading to an increase in revenue growth guidance.

Notable Stock Movements: Plymouth Industrial REIT shares surged by 51% after an acquisition proposal, while Gaxos.ai Inc. and Laser Photonics Corporation saw significant gains, whereas Thumzup Media Corporation and Viking Therapeutics faced substantial declines.

Commodity and Global Market Trends: Oil and gold prices fell slightly, while European markets showed positive movement, contrasting with mostly lower Asian markets; U.S. housing starts increased by 5.2% in July.