What you need to know today

Delta Air Lines claims compensation from CrowdStrike and Microsoft
In extended trading, CrowdStrike shares fell more than 5%. Delta Air Lines hired attorney David Boies to seek damages from CrowdStrike and Microsoft after an outage this month led to thousands of flight cancellations. 

Apple AI
Apple has released the first version of Apple Intelligence to registered developers, but the eagerly awaited AI software may not be loaded onto the next batch of iPhones.

The new software is found in the developer beta of iOS 18.1, whereas iPhones launched this fall are slated to run on iOS 18.

The launch of Apple Intelligence is expected to spark a wave of mobile phone upgrades since the system will only work on high-end iPhone models such as the iPhone 15 Pro and iPhone 15 Pro Max.

Bitcoin retreats
Bitcoin fell more than 1% on Monday as investors digested remarks made by Republican Presidential candidate Donald Trump at the Bitcoin Conference over the weekend.

The cryptocurrency traded at $67,264 after rising as high as $69,982, according to Coin Metrics.

Trump said officials had harmed the industry by failing to provide proper rules and regulations, and that he would replace Securities and Exchange Commission Chair Gary Gensler “on day one.”

McDonald’s miss
McDonald’s quarterly earnings and revenue fell short of analysts’ expectations as same-store sales declined globally for the first time since 2020. The fast-food giant’s second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion.

The company said it was working to create value for customers who think its prices are too high, and that its recently launched $5 value meal promotion in the U.S. was bringing lower-income diners back to its stores. McDonald’s shares closed 3.74% higher.