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Wire

Top Midday Stories: Corning Shares Fall on Tepid Q3 Sales Guidance; Coca-Cola Rases EPS, Revenue Outlook, Shares Rise

The Dow Jones Industrial Average and S&P 500 were up in late-morning trading Tuesday, while the Nasdaq Composite was roughly flat, as certain semiconductor stocks sold off.In company news, Corning (GLW) reported Q2 non-GAAP earnings Tuesday of $0.78 per diluted share, up from $0.60 a year earlier and above the FactSet consensus analyst estimate of $0.76. Second-quarter revenue was $4.74 billion, up from $4.05 billion a year ago and above the FactSet consensus of $4.63 billion. For Q3, Corning said it expects diluted EPS of $0.85 to $0.89, compared to the FactSet consensus of $0.85. The company said it expects Q3 sales of $4.9 billion to $5 billion, compared to the FactSet consensus of $5 billion. Corning shares were down 15.5% around midday.Coca-Cola (KO) reported fiscal Q2 comparable diluted EPS Tuesday of $0.97, up from $0.87 a year earlier and above the FactSet consensus of $0.93. Net Q2 operating revenue was $13.38 billion, up from $12.54 billion a year ago and above the FactSet consensus of $13.17 billion. For 2026, the company said it expects comparable EPS growth of 9% to 10%, up from its previous guidance of 8% to 9%, and it raised its organic growth revenue outlook to about 5% from 4% to 5%. Coca-Cola shares were up 6.0%.Boeing (BA) reported a Q2 core loss Tuesday of $0.76 per share, narrowing from a loss of $1.24 a year earlier but below the FactSet consensus of a loss of $0.28. Second-quarter revenue was $24.56 billion, up from $2.75 billion a year ago and above the FactSet consensus of $24.26 billion. The company said Q2 deliveries increased 14% to 171 planes. Boeing shares were up 4.0%.Visa (V) confirmed toearlier Tuesday reports that it will trim around 2,600 jobs, or about 7% of it workforce, as part of Chief Executive Ryan McInerney's plan to streamline operations. The cuts will mainly impact its technology and product teams. Visa shares were up 1.2%.Apple (AAPL) saw its market capitalization surpass $5 trillion for the first time on Tuesday morning, Bloomberg reported. Separately, the company is planning to launch a number of home products, including a hub device built around the new Siri AI assistant, Bloomberg reported Tuesday, citing people with knowledge of the matter. Apple is also preparing a new TV set-top box and updated HomePod mini, the people reportedly told Bloomberg. Lastly, Apple said Tuesday it has partnered with Klarna Group (KLAR) on a new program that will allow US customers to lease an iPhone for $17.99 per month. In addition to the iPhone, the program, called Apple Upgrade, is offering 12- and 24-month leasing options for Apple Watch, Mac and iPad for $11.99, $24.99 and $11.99 per month, respectively. Apple shares were up 0.8%.Meta Platforms (META) and BlackRock (BLK) have agreed to form a strategic venture to develop and own a 1-gigawatt data center campus in El Pas, Texas, Meta said Tuesday. Funds managed by BlackRock will own an 80% interest in the joint venture, with Meta holding the remaining 20%, the tech giant said. Meta shares were flat, while BlackRock shares were up 3.2%.China's Moonshot AI is seeking more Nvidia (NVDA) Blackwell chips, as it discusses plans for Kimi K4, its next model that will be larger than its recently released Kimi K3, The Information reported Tuesday, citing two people familiar with the matter. Nvidia shares were up 0.7%.Two of Amazon's (AMZN) data centers in Bahrain sustained damage following missile strikes last week that Iran claimed to carry out, Bloomberg reported Tuesday, citing satellite imagery. Amazon shares were down 0.4%.PayPal (PYPL) reported Q2 non-GAAP EPS Tuesday of $1.38, down from $1.40 a year earlier but above the FactSet consensus of $1.28. Net Q2 revenue was $8.68 billion, up from $8.29 billion a year ago and above the FactSet consensus of $8.47 billion. For Q3, the company said it expects to post a roughly low-single-digit decline in non-GAAP EPS from $1.34 a year earlier. Analysts polled by FactSet expect $1.33. For 2026, PayPal expects non-GAAP EPS of about $5.38, above the FactSet consensus of $5.31. Separately, the company said it will offer installment payments for up to 48 months for eligible Amazon customers in Germany and Austria starting in August. PayPal shares were up 3.9%.Price: $88.98, Change: $+4.91, Percent Change: +5.84%

$AMZN$BA$BLK$GLW$KO$META$NVDA$PYPL$V
Meta Partners With BlackRock Over $14 Billion Data Center Project
US Markets

Meta Partners With BlackRock Over $14 Billion Data Center Project

Meta Platforms (META) and asset manager BlackRock (BLK) have teamed up to develop a data center campus in El Paso, Texas, at a cost of roughly $14 billion, the companies said Tuesday.Technology giants are ramping up investments to support their artificial intelligence initiatives. Meta is targeting capital expenditures of $125 billion to $145 billion this year, including for data center buildouts.The Facebook and Instagram parent said Tuesday it will invest more than $10 billion in the El Paso facility.Meta intends to use the entire data center campus under an initial four-year lease agreement, with a maximum lease term of 20 years, according to a joint statement.The partnership "allows us to move faster and at greater scale -- pairing our deep expertise in designing and operating world-class data centers with one of the world's leading infrastructure investors," Meta Chief Executive Mark Zuckerberg said.BlackRock-managed funds will own an 80% interest in a venture to be formed with Meta, which will take the remaining 20% stake in it."Companies around the world are looking for long-term strategic partners to help develop their most important projects, and BlackRock is built to meet that need," BlackRock CEO Larry Fink said.Meta, along with Alphabet (GOOG, GOOGL), Amazon.com (AMZN) and Microsoft (MSFT), are expected to spend $650 billion in capex, compared with $410 billion last year, asset management firm Bridgewater Associates said in February.Some companies have sought financing for their AI initiatives, like CoreWeave (CRWV), which in March announced an $8.5 billion loan facility to expand its AI cloud platform.Meta and BlackRock expect to close the deal in the coming days, with an aim to start capacity deployment in 2028.The announcement comes ahead of Meta's second-quarter results, due out after market close on Wednesday. Shares of Meta were flat intraday Tuesday, while those of BlackRock advanced by 3.2%.Price: $592.89, Change: $-0.98, Percent Change: -0.17%

$AMZN$BLK$CRWV$GOOG$GOOGL$META$MSFT
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index adding 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.7%.The Philadelphia Housing Index gained 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 2.3%.Bitcoin (BTC-USD) was declining 1.5% to $64,087, and the yield for 10-year US Treasuries shed 2.4 basis points to 4.679%.In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.In corporate news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and revenue guidance. Shares surged past 11%.BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg reported. BlackRock shares rose 1.7%.American Express' (AXP) Q2 earnings topped Wall Street's estimates, but revenue missed expectations, while the company now expects full-year revenue to grow at the high end of its previous guidance range. Its shares fell 4.6%.Tompkins Financial (TMP) shares jumped past 8% after it reported better-than-expected Q2 results.Safety Insurance (SAFT) shares soared 42%. The company said late Thursday it entered an agreement to be acquired by an affiliate of Mapfre in a $1.54 billion all-cash deal.

$AXP$BLK$DLR$SAFT$TMP
Sectors

Sector Update: Financial Stocks Advance Friday Afternoon

Financial stocks rose in Friday afternoon trading, with the NYSE Financial Index adding 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.6%.The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 2.1%.Bitcoin (BTC-USD) was declining 1.9% to $63,849, and the yield for 10-year US Treasuries was falling 4 basis points to 4.663%.In economic news, new-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply. Sales of new single-family homes increased 1.6% sequentially in June to a seasonally adjusted annual rate of 628,000, the Census Bureau and the Department of Housing and Urban Development said Friday. Analysts polled by Bloomberg expected a 607,000 print.In corporate news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and revenue guidance. Shares jumped past 13%.BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg reported. BlackRock shares rose 1.2%.American Express' (AXP) Q2 earnings topped Wall Street's estimates, but revenue missed expectations, while the company now expects full-year revenue to grow at the high end of its previous guidance range. Its shares fell 5.1%.

$AXP$BLK$DLR
Treasury

Market Chatter: BlackRock Starts $12.3 Billion Bond Sale for Meta Platforms Data Center

BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg News reported Friday, citing a person familiar with the matter.A holding company linked to the asset manager is offering a single tranche of notes maturing in 2048 at a premium of roughly 2.875 percentage points above Treasuries, the news outlet quoted the person as saying.The sale proceeds will support a Texas facility expected to deliver up to 1 gigawatt of computing power, with BlackRock units holding 80% stake and Meta owning the rest, according to the report.BlackRock and Meta Platforms did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1040.77, Change: $+3.61, Percent Change: +0.35%

$BLK$META
Wire

Neuphoria Therapeutics Agrees to All-Share Takeover by Scancell

Neuphoria Therapeutics (NEUP) and Scancell Holdings said Thursday they have agreed to an all-stock merger in which Scancell will acquire Neuphoria and apply to list its shares on Nasdaq under the ticker symbol "SCLT."Scancell said it expects to secure up to $89 million in financing through a combination of equity and debt.The UK company said it has received commitments from new and existing shareholders for a $39.1 million private placement and that it plans to launch a UK placing to raise about $12 million and a retail offering to raise up to $3 million.Scancell also said it has entered into a nonbinding term sheet with certain funds and accounts managed by BlackRock (BLK) for up to $25 million in debt financing, while completion of the merger is expected to provide the combined entity with at least $10 million in additional cash from Neuphoria's cash balances.The boards of both companies unanimously approved the transaction. The merger remains subject to approval by shareholders of Neuphoria and Scancell, as well as other customary closing conditions.Price: $3.96, Change: $+0.60, Percent Change: +17.87%

$BLK$NEUP
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In economic news, the Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey, following a 0.1% increase in May.In corporate news, Truist Financial (TFC) shares fell 3.3% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.8%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were down 1.5%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares fell 4.1%.

$BAM$BLK$KKR$LXP$TFC
Sectors

Sector Update: Financial Stocks Decline Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.3%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 1% to $65,342, and the yield for 10-year US Treasuries was climbing up 6 basis points to 4.602%.In corporate news, LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.4%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were shedding 1%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares were down 3.4%.

$BAM$BLK$KKR$LXP
Treasury

Update: Market Chatter: BlackRock Looking to Raise Over $12 Billion in Debt to Finance Texas Data Center

(Update with BlackRock's response to a request for comment in the last paragraph.)BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported Monday, citing people with knowledge of the matter.The bonds are expected to be priced early next week, the report said.BlackRock declined to comment to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1067.20, Change: $-5.00, Percent Change: -0.47%

$BLK
Treasury

Market Chatter: BlackRock Looking to Raise Over $12 Billion in Debt to Finance Texas Data Center

BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported Monday, citing people with knowledge of the matter.The bonds are expected to be priced early next week, the report said.BlackRock didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1062.89, Change: $-9.32, Percent Change: -0.87%

$BLK
Treasury

BlackRock Looking to Raise Over $12 Billion in Debt to Finance Texas Data Center, Bloomberg Reports

BlackRock Looking to Raise Over $12 Billion in Debt to Finance Texas Data Center, Bloomberg Reports

$BLK
Insider Trading

BlackRock Insider Sold Shares Worth $19,942,340, According to a Recent SEC Filing

Christopher J. Meade, General Counsel and Chief Legal Officer, on July 16, 2026, sold 18,095 shares in BlackRock (BLK) for $19,942,340. Following the Form 4 filing with the SEC, Meade has control over a total of 14,059 common shares of the company, with 14,059 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/2012383/000201238326001976/xslF345X05/form4.xml

$BLK
Insider Trading

BlackRock Insider Sold Shares Worth $2,058,486, According to a Recent SEC Filing

Laurence Fink, Director, Chairman and Chief Executive Officer, on July 16, 2026, sold 1,905 shares in BlackRock (BLK) for $2,058,486. Following the Form 4 filing with the SEC, Fink has control over a total of 223,831 common shares of the company, with 223,831 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/2012383/000201238326001977/xslF345X05/form4.xml

$BLK
Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks edged up in late Thursday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.The Philadelphia Housing Index rose 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.8%.Bitcoin (BTC-USD) was shedding 0.8% to $64,191, and the yield for 10-year US Treasuries rose 2.4 basis points to 4.569%.In economic news, US retail sales rose 0.2% in June, following a 1.0% gain in the prior month, and meeting expectations in a survey compiled by Bloomberg.Initial jobless claims dropped to 208,000 in the week ended July 11 from 216,000 in the previous week, compared with expectations for an increase to 217,000.In corporate news, Apollo Global Management (APO) plans to allocate as much as $20 billion to financing projects in Mexico as it seeks new opportunities for its private credit business, Bloomberg reported. Apollo shares were up 0.7%.BlackRock (BLK) delivered a largely clean Q2 performance, with margin expansion reinforcing confidence that organic base fee growth can be sustained at the high end of guidance, UBS said in a note. UBS kept its buy rating and raised the price target to $1,320 from $1,270. BlackRock shares were down 0.7%.U.S. Bancorp (USB) and State Street (STT) reported higher Q2 earnings year over year on Thursday, as both lenders topped revenue estimates amid strong net interest income and fee-based gains. U.S. Bancorp shares rose 1.5%, and State Street was shedding 0.8%.Voya Financial (VOYA) has attracted informal takeover interest in recent weeks, though no talks are underway and the company's management and board are not seeking a transaction, Semafor reported. Voya shares rose 1.4%.

$APO$BLK$STT$USB$VOYA
Wire

BlackRock's Private Markets Push Drives Structural Margin Gains, UBS says

BlackRock (BLK) delivered a largely clean Q2 performance, with margin expansion reinforcing confidence that organic base fee growth can be sustained at the high end of guidance, UBS said in a note emailed Thursday.The firm's shift toward higher-margin private markets is driving durable gains, and private credit and AI-related concerns are unlikely to offset intact fundamentals, the note said.Operating margin reached 45.9%, up 260 basis points year over year, driven by roughly $15 billion of private-markets inflows spanning credit, infrastructure, and an outsourced private-equity mandate, according to the note.UBS raised its 2026 and 2027 EPS estimates by 4.5% and 4.0%, respectively, citing continued margin upside as GIP, HPS, and Preqin integrations scale.UBS maintained its buy rating and raised the price target to $1,320 from $1,270.Price: $1092.47, Change: $-0.94, Percent Change: -0.09%

$BLK
Wire

BNP Paribas Adjusts Price Target on BlackRock to $1,370 From $1,350, Maintains Outperform Rating

BlackRock (BLK) has an average rating of buy and mean price target of $1,315.93, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $1105.17, Change: $+11.77, Percent Change: +1.08%

$BLK
Wire

BofA Securities Raises Price Target on BlackRock to $1,320 From $1,298, Maintains Buy Rating

BlackRock (BLK) has an average rating of buy and mean price target of $1,315.93, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $1102.09, Change: $+8.69, Percent Change: +0.79%

$BLK
Wire

UBS Raises Price Target on BlackRock to $1,320 From $1,270, Maintains Buy Rating

BlackRock (BLK) has an average rating of buy and mean price target of $1,312.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $1110.28, Change: $+17.05, Percent Change: +1.56%

$BLK
Research

JPMorgan Upgrades BlackRock to Overweight From Neutral, Adjusts PT to $1,364 From $1,165

BlackRock (BLK) has an average rating of buy and mean price target of $1,312.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$BLK
Asia Markets

Update: US Equity Indexes Climb as Unexpected Decline in Inflation Helps Counter Sharp Deterioration in Iran Geopolitics

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose, as a boost from an unexpected drop in producer price inflation helped outweigh a worsening geopolitical environment, including potential complex military operations against Iran and an emerging threat to shut down the maritime gateway to the Red Sea.The Nasdaq rose 0.6% to 26,269.23, the S&P 500 climbed 0.4% to 7,572.40, and the Dow Jones Industrial Average advanced 0.3% to 52,658.64 on Wednesday. Communication services and consumer discretionary topped the gainers, while utilities led the decliners.The US Producer Price Index fell 0.3% in June after a 0.6% increase in May, below consensus for no change in a Bloomberg-compiled survey. Core PPI rose 0.2%, slower than the 0.3% gain expected and a 0.1% rise in May. PPI was up 5.5% year-over-year in June, versus the 6% gain in May, while core PPI climbed 4.7%, up from 4.6% in May.Fed policy is likely to remain unchanged given the divide between inflation optimists and pessimists, Stifel Chief Economist Lindsey Piegza said in a note. Following the PPI data, the CME FedWatch tool showed a 90% probability of the Fed holding rates steady in July, up from 84% on Tuesday, with the rate-pause likelihood also increasing for September, October, and December. Treasury yields retreated, with the 10-year yield falling four basis points to 4.55% and the two-year sliding 6.3 basis points to 4.13%.Geopolitically, the strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting capabilities that the US would like destroyed before executing complex operations in the country, Reuters reported, citing three US officials. The officials said the strikes effectively strengthen Trump's additional military options.In response, Iran's paramilitary Revolutionary Guard threatened to halt all energy exports from the Middle East over the blockade of its ports, the Associated Press reported. "The export of oil and gas from the region will be either for everyone or for no one," the Guard was cited as saying. Iran is also signaling it could use Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most important energy arteries at risk, a separate report from Reuters said.Despite these tensions, crude oil futures traded off session highs following US inventory data. Brent rose 0.4% to $85.05 a barrel, and the US West Texas Intermediate climbed 0.5% to $79.71 a barrel.US commercial crude oil stocks fell by 1.7 million barrels in the week ended July 10, below the 1.8 million-barrel slide forecast in a Bloomberg-compiled poll. Gasoline stocks fell by 1.5 million barrels during the same period in the US summer driving season, smaller than the 2.0-million-barrel slide expected. Distillate stocks, which power the supply chain comprising commercial trucking and freight trains, rose by 4.6 million barrels, compared with an expected drop of 2.0 million barrels.In company news, Dutch semiconductor equipment supplier ASML (ASML) reported growth in Q2 earnings and sales and raised revenue guidance for the full-year 2026.Mega-cap banks continued to post strong results. Morgan Stanley's (MS) Q2 sales beat the outlook, with robust investment banking and trading driving the top line higher year over year. BlackRock (BLK) also reported higher Q2 adjusted earnings and revenue, and The Bank of New York Mellon (BNY) reported Q2 adjusted earnings and revenue above market expectations.

Dow JonesNasdaq CompositeS&P 500$ASML$BLK$BNY$MS

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