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Wire

Top Midday Stories: 3M Shares Rise on Strong Guidance; Novo Nordisk Sues Eli Lilly Over GLP-1 Advertising

All three major US stock indexes were up in late-morning trading Tuesday, as investors focused on some strong corporate earnings reports.In company news, 3M (MMM) reported Q2 adjusted earnings Tuesday of $2.40 per share, up from $2.16 a year earlier and above the FactSet consensus analyst estimate of $2.25. Second-quarter revenue was $6.5 billion, up from $6.34 billion a year ago and above the FactSet consensus of $6.40 billion. For fiscal 2026, the company expects adjusted EPS of $$8.80 to $8.95, up from its previous outlook of $8.50 to $8.70 and above the FactSet consensus of $8.74. 3M shares were up 8.7% around midday.Novo Nordisk (NVO) said Tuesday it filed a lawsuit against Eli Lilly (LLY) in the US District Court for the District of New Jersey alleging the drugmaker's advertising for Zepbound and Mounjaro violates federal and state false advertising and unfair competition laws. Novo shares were down 0.3%, while Lilly shares were up 1.3%.Utz Brands (UTZ) has entered into a definitive agreement through which Intersnack Group will acquire all of its outstanding common stock for $14.25 per share in cash and take it private, the companies said Tuesday. The price represents an enterprise value of about $2.9 billion and a 91% premium over Utz's closing price on July 20, the companies said. The deal is expected to close in Q4, subject to regulatory and other conditions, they said. Utz shares were up 89.5%.Danaher (DHR) reported Q2 adjusted net earnings Tuesday of $1.94 per diluted share, up from $1.80 a year earlier and above the FactSet consensus of $1.84. Second-quarter sales were $6.27 billion, up from $5.94 billion a year ago and above the FactSet consensus of $6.11 billion. For full-year 2026, the company raised its adjusted diluted EPS guidance to $8.45 to $8.60 from $8.35 to $8.55. Analysts polled by FactSet expect $8.45. Danaher shares were down $14.1%.General Motors (GM) reported Q2 adjusted diluted EPS Tuesday of $3.57, up from $2.53 a year earlier and above the FactSet consensus of $3.19. Second-quarter revenue was $48.03 billion, up from $47.12 billion a year ago and above the FactSet consensus of $47.01 billion. For 2026, the company expects adjusted EPS of $12 to $14, compared with the FactSet consensus of $12.97. GM shares were up 4.0%.MSCI (MSCI) reported Q2 adjusted EPS of $4.94, up from $4.17 a year earlier but below the FactSet consensus of $4.99. Second-quarter operating revenue was $867 million, up from $772.7 million a year ago but below the FactSet consensus of $870.7 million. MSCI shares were down 8.7%.Price: $49.45, Change: $-0.16, Percent Change: -0.33%

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Wire

General Motors to Begin Contract Talks With Ontario Union

General Motors (GM) will begin contract negotiations with Unifor, the union representing 4,600 members at Ontario GM facilities said Tuesday.GM didn't immediately reply to a request for comment from.Price: $78.46, Change: $+2.66, Percent Change: +3.50%

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Wire

General Motors to Begin Contract Talks With Ontario Union

General Motors to Begin Contract Talks With Ontario Union

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General Motors Raises 2026 Earnings Outlook as Second-Quarter Revenue Tops Expectations
US Markets

General Motors Raises 2026 Earnings Outlook as Second-Quarter Revenue Tops Expectations

General Motors (GM) lifted its full-year earnings outlook on Tuesday as the automaker recorded an unexpected year-over-year increase in its second-quarter revenue.The company now anticipates adjusted earnings between $12 and $14 per share for 2026, up from its previous guidance of $11.50 to $13.50. The consensus on FactSet is for non-GAAP EPS of $12.97.The revised outlook reflects pricing in North America to be up about 0.5%, compared with prior expectations for it to be flat to up 0.5%, according to an earnings presentation. The automaker sees a warranty cost benefit of $1 billion to $1.5 billion, versus roughly $1 billion previously projected. Tariff costs are still pegged at $2.5 billion to $3.5 billion.GM now forecasts adjusted automotive free cash flow of $9.5 billion to $11.5 billion for the ongoing year, higher than the prior view of $9 billion to 11 billion.GM posted revenue of $48.03 billion for the June quarter, up from $47.12 billion last year, defying the Street's view for a dip to $47.01 billion. Adjusted EPS jumped 41% to $3.57, exceeding the average analyst estimate of $3.19."Customer demand in North America remains strong driven by our very attractive lineup of pickups and (sport utility vehicles)," Chief Executive Mary Barra said in a letter to shareholders.Pricing was "consistent," while the company continues to lower its warranty costs and reduce electric vehicles losses, Barra said.Revenue in North America rose to $39.91 billion from $39.49 billion in the 2025 quarter, while international sales advanced to $3.69 billion from $3.33 billion. Consolidated vehicle sales fell to 1.43 million units from 1.54 million last year amid a drop in the US.

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Stocks Rise Pre-Bell as Investors Await More Earnings, Monitor Middle East Developments
US Markets

Stocks Rise Pre-Bell as Investors Await More Earnings, Monitor Middle East Developments

US equity futures were tracking in the green on Tuesday as traders await the latest batch of corporate earnings and assess the latest developments in the Middle East.The S&P 500 rose 0.5%, the Dow Jones Industrial Average gained 0.3% and the Nasdaq added 1.3% in premarket activity. The indexes closed the previous trading session lower.Charles Schwab (SCHW), Danaher (DHR), 3M (MMM), Northrop Grumman (NOC), General Motors (GM), D.R. Horton (DHI), Genuine Parts (GPC) and Hasbro (HAS) are some of the major companies scheduled to release their latest financial results before the bell.Interactive Brokers (IBKR) and Alaska Air (ALK) post earnings after the markets close, among others."The reporting calendar is shifting beyond the first wave of money-center banks toward large tech, industrial and consumer names," Tigress Financial said in a note Monday. "The narrative will increasingly focus on whether (artificial intelligence) platforms, cloud providers and key cyclicals can match the strong bank prints without sparking renewed worries about margins or demand."The UK Maritime Trade Operations said Tuesday it has received multiple reports that a tanker was struck by an unknown projectile in the Strait of Hormuz. The US Central Command said Monday its forces completed their latest round of strikes against Iran.A senior official from Tehran told Reuters that mediators have forwarded a 10-day ceasefire proposal to Iran in an attempt to revive the interim deal reached with the US last month. Houthi militants in Yemen on Monday declared a maritime embargo against Saudi Arabia, effective immediately, CNBC reported, citing Yemen News Agency.President Donald Trump said Monday that "every time Iran kills an American soldier they will pay for that killing many times over." The US recently confirmed the passing of at least three service members during recent fighting with Iran.West Texas Intermediate crude oil edged up 0.3% to $83.49 a barrel before the opening bell, while Brent increased 0.4% to $89.60.Trump signed three proclamations on Monday to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada, in response to its "discriminatory treatment of American products," according to the White House. The tariffs are set to come into effect after 30 days.Treasury yields were moving downwards in premarket action, with the two-year rate retreating 1.9 basis points to 4.2% and the 10-year rate off 0.4 basis points to 4.59%.Gold advanced 1.4% to $4,073 per troy ounce, while bitcoin climbed 1.9% to $66,296.

Dow JonesNasdaq CompositeS&P 500$ALK$DHI$DHR$GM$GPC$HAS$IBKR$MMM$NOC$SCHW
Tesla Second-Quarter Deliveries Top Views; Shares Fall Intraday
US Markets

Tesla Second-Quarter Deliveries Top Views; Shares Fall Intraday

Tesla (TSLA) shares were down Thursday even as the company's second-quarter deliveries beat Wall Street's expectations, while Truist Securities said the electric vehicle maker didn't provide any updates on key topics.Tesla delivered 480,126 vehicles in the June quarter, up from 384,122 a year earlier and 358,023 in the prior three-month period. The consensus forecast on FactSet was for 427,000 units.The company's shares were down 7.8% in afternoon trade, bringing its year-to-date losses to nearly 12%."We view (artificial intelligence) developments as far more important than auto deliveries for (Tesla's) long-term cash generation and stock performance," Truist Managing Director William Stein said in a note to clients."The most important of these, near-term, is (Full Self-Driving) and related projects (robotaxi and cybercab), which (Tesla) did not update today," Stein wrote. "We continue to view progress in this area as positive, but imperfect."Full Self-Driving is a driver assistance software offered by Tesla.The brokerage reiterated its hold rating on the EV maker's stock while raising its price target to $430 from $400.Tesla produced 451,758 vehicles in the second quarter, compared with 410,244 a year earlier and 408,386 in the March quarter. Truist was looking for 473,000 units in the latest quarter, according to the note.Separately, Rivian Automotive (RIVN) on Thursday raised its delivery projections for this year after its second-quarter numbers exceeded expectations. Ford Motor (F) reported a 10% annual drop in new US vehicle sales for the three months to June.Rivian shares were up 8.5% intraday, while Ford saw a 2.7% drop.On Wednesday, General Motors (GM) said US vehicle sales fell 4.2% year over year in the second quarter due to a smaller EV market, discontinued vehicles and inventory constraints.Tesla is scheduled to report its second-quarter financial results July 22.Price: $393.83, Change: $-31.47, Percent Change: -7.40%

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Rivian Raises Delivery Outlook After Strong Second Quarter; Ford US Sales Fall 10%
US Markets

Rivian Raises Delivery Outlook After Strong Second Quarter; Ford US Sales Fall 10%

Rivian Automotive (RIVN) raised delivery projections for this year after the electric vehicle manufacturer's second-quarter numbers exceeded expectations, while Ford (F) reported a 10% annual drop in new US vehicle sales for the three months to June.Rivian now expects full-year vehicle deliveries of 65,000 to 70,000, compared with its prior guidance of 62,000 to 67,000 and the FactSet-polled consensus for 64,000 units. Deliveries totaled 42,247 in 2025.Shares of Rivian were up nearly 10% in Thursday trade. The stock is down about 4.3% so far this year.For the June quarter, Rivian reported total deliveries of 12,194, surpassing six analysts' projection of 11,000 vehicles. The company delivered 10,365 vehicles in the March quarter, and 10,661 units in the 2025 second quarter.Rivian attributed the second-quarter performance to sequential growth of delivery vans and R1 electric sports utility vehicles, along with R2 SUV deliveries.The company said it produced 12,613 vehicles in the second quarter, up from the March quarter output of 10,236 vehicles and more than double the year-ago tally of 5,979 units.Ford Motor's (F) second-quarter new US sales declined 10% annually to 549,200 vehicles, partly reflecting the planned phase-out of the Escape and Corsair. Pure EV sales plunged 41%.It sold 457,315 units in the first quarter of 2026 and 612,095 vehicles in the second quarter of 2025.Ford sold 1 million vehicles from January to June, down 9.6% from the year-ago period. First-half F-Series sales tumbled 13%."Although customer demand remains high, first-half F-Series sales reflect a retiming of commercial production following last year's aluminum supply shortages," Ford said in a release. "Ford expects supply to recover more fully in the second half of the year."Separately, Tesla (TSLA) reported second-quarter deliveries well above Wall Street's expectations.On Wednesday, General Motors (GM) said US vehicle sales fell 4.2% year over year in the second quarter due to a smaller EV market, discontinued vehicles and inventory constraints.Last week, Cox Automotive maintained its 2026 new vehicle sales forecast at 15.8 million units, which would reflect a 2.9% annual drop.Price: $18.96, Change: $+1.78, Percent Change: +10.36%

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.8%.In corporate news, General Motors' (GM) US vehicle sales fell year over year in Q2, with the carmaker attributing the decline in part to a smaller electric vehicle market. GM shares were down 2.1%. Separately, Stellantis (STLA) shares added 1.7% after it said Wednesday its total US sales for H1 2026 increased 5%, with momentum continuing in Q2 with the brands' total sales up 6% and June sales rising 10% year over year.FedEx (FDX) has agreed to sell its supply chain subsidiary to French shipping and logistics firm CMA CGM in a roughly $1.4 billion deal, as the parcel delivery giant continues to streamline its portfolio. FedEx shares rose 0.4%.Nike's (NKE) fiscal Q4 revenue slipped year-over-year, while earnings got a boost from expected tariff refunds. Its shares climbed 4%.Kroger (KR) agreed to buy food and pharmacy retailer Giant Eagle in a $1.65 billion deal that will expand the supermarket chain's footprint into new markets. Kroger shares rose 0.7%.

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Sectors

Sector Update: Consumer

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1%.In corporate news, General Motors' (GM) US vehicle sales fell year over year in Q2, with the carmaker attributing the decline in part to a smaller electric vehicle market. GM shares were down 1.8%.

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General Motors Second-Quarter US Vehicle Sales Drop Annually
US Markets

General Motors Second-Quarter US Vehicle Sales Drop Annually

General Motors' (GM) US vehicle sales fell year over year in the second quarter, with the automaker attributing the decline in part to a smaller electric vehicle market.Sales decreased 4.2% annually to 714,896 vehicles in the June quarter. The company said Wednesday the performance reflected a smaller EV market, discontinued vehicles and "some" inventory constraints. Sales fell across key brands, led by a 19% slump in Cadillac, while Buick saw a 7.5% drop.GM shares were down 2.1% in afternoon trade, bringing its year-to-date losses to 7.3%.In the year through June, GM's overall vehicle deliveries in the US have fallen 6.8% year over year to about 1.34 million units, with Cadillac and Buick logging declines of more than 20% each."Our business is performing well, and customer demand is resilient, especially for our trucks and (sport-utility vehicles)," said Duncan Aldred, GM president of North America.Separately, GM and Micron Technology (MU) said they signed a deal to secure supply of memory and storage platforms "critical" to the automaker's vehicle production in the long term."As demand for memory and storage continues to grow, we are investing to extend supply availability, expand capacity and align more closely with our customers to improve supply predictability across the automotive ecosystem," Micron Chief Executive Sanjay Mehrotra said in a statement.The two companies continue to collaborate on future memory and storage technology requirements key for upcoming vehicles, they said."Our expanded collaboration with Micron strengthens our access to critical memory technologies while enabling deeper integration across our vehicle platforms, supporting both performance and long-term reliability," GM CEO Mary Barra said.In April, GM raised its full-year earnings outlook and trimmed its tariff-hit forecast, as the company reported an unexpected year-over-year increase in its first-quarter bottom-line.Price: $75.47, Change: $-1.61, Percent Change: -2.09%

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Wire

Update: GM Q2 US Sales Fall 4.2% on Softer EV Demand, Inventory Limits

(Updates with additional details in the second and third paragraphs.)General Motors (GM) said Wednesday its Q2 US sales fell 4.2% to 714,896 vehicles from a year earlier, reflecting a smaller market for electric vehicles, discontinued models and some inventory constraints.The company reported Buick Q2 deliveries of 50,167 units, down from 54,233 units a year earlier. Cadillac Q2 deliveries fell 19.2% to 35,825 units from 44,347 units a year ago.Chevrolet deliveries for the quarter stood at 459,678 units, compared with 478,322 units a year earlier. GMC Q2 deliveries were 169,226 units, compared with 169,686 units a year prior.Price: $76.56, Change: $-0.52, Percent Change: -0.67%

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Wire

GM Q2 US Sales Fall 4.2% on Softer EV Demand, Inventory Limits

General Motors (GM) said Wednesday its Q2 US sales fell 4.2% to 714,896 vehicles from a year earlier, reflecting a smaller market for electric vehicles, discontinued models and some inventory constraints.Price: $76.24, Change: $-0.84, Percent Change: -1.09%

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Wire

GM Q2 US Sales Fall 4.2% Year Over Year to 714,896 Vehicles

GM Q2 US Sales Fall 4.2% Year Over Year to 714,896 Vehicles

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Wire

Market Chatter: Toyota Motor Narrows Gap With General Motors in US as Hybrid Sales Grow

Toyota Motor (TM) is gaining ground on General Motors (GM) in US sales as demand for hybrid vehicles rises, Bloomberg reported Wednesday, citing a forecast from Cox Automotive.Toyota's US market share is projected to rise to 15.8% within H1, while General Motors' share is forecast to fall to 16.8%, according to the report.Toyota's electrified vehicle sales, driven largely by hybrids, rose 5.6% through May despite an expected decline in the broader US auto market, benefiting from consumer demand for fuel-efficient vehicles as gasoline prices near $4 per gallon, Bloomberg said.Toyota and General Motors didn't immediately respond to requests 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: $167.81, Change: $+0.58, Percent Change: +0.35%

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Insider Trading

General Motors Insider Sold Shares Worth $8,445,239, According to a Recent SEC Filing

Mary T Barra, Director, Chair & CEO, on June 16, 2026, sold 99,239 shares in General Motors (GM) for $8,445,239. Following the Form 4 filing with the SEC, Barra has control over a total of 592,242 common shares of the company, with 592,242 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1467858/000149215426000014/xslF345X05/wk-form4_1781815059.xml

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Wire

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

Lockheed Martin (LMT) and General Motors (GM) Defense said Tuesday they reached a memorandum of understanding under which the companies will look to enhance the US' defense industrial base, facilitated by the US Department of Defense.Working under a memorandum of understanding, Lockheed and GM Defense will focus on strengthening defense supply chains, advancing design and manufacturing capabilities and exploring opportunities to expand production capacity, the companies said.Price: $535.85, Change: $+5.49, Percent Change: +1.04%

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Wire

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

Lockheed, GM Defense to Collaborate to Boost US Defense, Manufacturing Industrial Base

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Sectors

Sector Update: Consumer Stocks Mixed Friday Afternoon

Consumer stocks were mixed Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.In corporate news, Lennar (LEN) shares fell 4.5% after the homebuilder issued a fiscal Q3 delivery outlook below market estimates, while its revenue trailed expectations in the previous three-month period amid persistent housing market headwinds.Uber (UBER) is contacting parties interested in Delivery Hero's regional businesses as it seeks regulatory approval for its planned takeover of the German food delivery company, Bloomberg reported. Uber shares were down 2.2%.General Motors (GM) was awarded a $623.8 million firm-fixed-price Army contract for infantry squad vehicles and winch kits, the US Department of Defense said Thursday. GM shares rose 0.8%.

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Wire

General Motors' 'Underappreciated' Energy Storage Business Offers Upside, RBC Says

General Motors' (GM) energy storage business is underappreciated by investors, while its US tariff exposure is improving, creating potential upside to earnings and valuation, RBC Capital Markets said in a note emailed Friday.The analysts said that since Ford (F) unveiled its energy storage strategy in May, its shares have significantly outperformed General Motors', despite General Motors announcing its own battery energy storage system plans in June. This suggests investors may not yet be fully recognizing the earnings potential of the company's energy initiatives, the firm noted.If the company can find success with sodium-ion batteries as a vertically integrated offering, similar to Tesla (TSLA) or Ford, as opposed to an off-take agreement like it is doing with its lithium iron phosphate cells, this business could be a key catalyst for multiple-re-rating, the analysts added.Channel checks suggest General Motors' US tariff outlook is improving, the analysts said, adding that a reduction in Mexico tariffs from 25% to 15% could lower the company's estimated $3 billion tariff burden by about $500 million, while eliminating tariffs altogether could reduce it by roughly $1 billion.RBC has an outperform rating and a $95 price target on General Motors.Price: $80.89, Change: $+0.04, Percent Change: +0.04%

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Wire

Update: Ford's Top Aluminum Supplier Restarts New York Plant After Fires

(Updates with Ford's statement in the last paragraph.)Ford Motor's (F) top aluminum supplier, Novelis, said Wednesday it has restarted its aluminum-rolling plant in New York."Restarting the Oswego hot mill is an important step forward for our operations and, most importantly, for our customers," Novelis CEO Steve Fisher said in a statement. "We are deeply grateful for the flexibility and partnership our customers have shown, as well as the extraordinary efforts of our employees, suppliers and industry peers who came together to support continuity of supply."The Wall Street Journal earlier reported the restart.The plant, which also serves General Motors (GM), Stellantis (STLA) and some foreign automakers with US production, resumed operations after fires that caused a supply shock for the auto industry, the WSJ reported."We appreciate the close collaboration with Novelis to restart their hot mill," Ford said in an emailed statement to. "While this is positive progress, the disruption is a clear reminder of the distress facing many automotive suppliers today. Ford is committed to finding new and enhanced ways to work with our partners to prioritize long-term supply chain resilience -- not just for our company, but for the entire industry."Price: $14.39, Change: $-0.56, Percent Change: -3.75%

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