75 stories mentioning VUpdated 3d ago
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Julie B Rottenberg, General Counsel, on September 09, 2026, sold 1,867 shares in Visa (V) for $687,691. Following the Form 4 filing with the SEC, Rottenberg has control over a total of 18,404 Class A common shares of the company, with 18,404 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1403161/000140316126000118/xslF345X05/form4.xml
Ryan McInerney, Director, Chief Executive Officer, on September 01, 2026, sold 5,875 shares in Visa (V) for $2,230,444. Following the Form 4 filing with the SEC, McInerney has control over a total of 280,342 Class A common shares of the company, with 15,174 shares held directly and 265,168 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1403161/000140316126000117/xslF345X05/form4.xml
Financial technology and payments companies outperformed quarterly estimates as consumer spending turned out to be better than expected, though the Middle East conflict weighed on certain guides, RBC Capital Markets said in a note emailed Thursday.The average revenue beat relative to consensus was 1.3% for 18 fintech and payments firms, with a 2.3% beat on earnings per share, according to the note. Twelve companies topped estimates, while three delivered a miss."Consumer spending data from the payments universe was broadly positive for the US in (the second quarter), with the card networks reporting their strongest domestic volumes in years," RBC analyst Daniel Perlin said.Payments giants Visa (V) and Mastercard (MA) reported annual volume gains in the most recent quarter, alongside an increase in PayPal's (PYPL) US total payment volume, according to the RBC note.The Iran war continued to weigh on several companies as the associated travel disruption persisted for longer than expected, Perlin wrote.Global Payments (GPN), which processes for 12 of the largest Middle Eastern airlines, was the most affected, while Shift4 Payments (FOUR) forecast a $25 million headwind for the third quarter. Visa said the impact moderated through the second quarter, though its rest-of-year guidance assumes current levels of disruption persist, RBC said.Mastercard, however, saw cross-border travel improve as the second quarter progressed.Factors such as tariff refunds, a lower tax rate and comparison issues create "some messiness" in the setup for the second half of the year, the brokerage said."A common guidance theme across the group was the expectation of (second half) acceleration, for various reasons such as the normalization of one-time items, the onboarding of newly signed contracts, the lapping of elevated prior-year non-recurring revenues, the deployment of cost synergies, and incremental contributions from (artificial intelligence)-driven efficiency programs," Perlin wrote.RBC highlighted Broadridge Financial Solutions (BR), Flywire (FLYW), Mastercard, Visa, SS&C Technologies (SSNC), and Block (XYZ) as best positioned post earnings.Buy-now-pay-later provider Affirm Holdings (AFRM), Jack Henry & Associates (JKHY), PicS (PICS), and Wealthfront (WLTH) are yet to report results.Price: $59.56, Change: $+0.36, Percent Change: +0.61%
Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index up 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index was climbing 2.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was increasing 0.2%.Bitcoin (BTC-USD) was adding 0.6% to $63,888, and the yield for 10-year US Treasuries fell 5.9 basis points to 4.686%.In economic news, the Institute for Supply Management's US manufacturing index rose to 55.6 in July from 53.3 in June, compared with expectations for 53.9 in a Bloomberg-compiled survey. This is the highest reading since May 2022, ISM said.The S&P Global US manufacturing index for July was revised upward to 53.9 from the flash reading of 53.8, compared with expectations for no revision in a survey compiled by Bloomberg.In corporate news, Apollo Global Management-backed (APO) Athora's German unit is close to being sold to Frankfurter Leben, a life insurance consolidator controlled by China's Fosun International, Bloomberg reported. Separately, Apollo said Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth. Apollo shares gained 3.5%.Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. Visa shares were fractionally lower.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were down 0.1%.UBS' (UBS) UBS Financial Services unit was assessed a $125 million civil money penalty for alleged violations of the Bank Secrecy Act, the US Treasury Department's Financial Crimes Enforcement Network said Monday. UBS shares eased 0.1%.
Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.2%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.1%.Bitcoin (BTC-USD) was adding 0.3% to $63,674, and the yield for 10-year US Treasuries was shedding 5.5 basis points to 4.69%.In corporate news, Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. Visa shares were down 0.1%.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were steady.Apollo Global Management-backed (APO) Athora's German unit is close to being sold to Frankfurter Leben, a life insurance consolidator controlled by China's Fosun International, Bloomberg reported. Separately, Apollo said Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth. Apollo shares gained 2.5%.
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.2%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.1%.Bitcoin (BTC-USD) was adding 0.3% to $63,674, and the yield for 10-year US Treasuries was shedding 5.5 basis points to 4.69%.In corporate news, Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. Visa shares were down 0.4%.
All three major US stock indexes were up in late-morning trading Monday after President Donald Trump said Sunday he cancelled a planned attack on Iran.In company news, Amazon.com (AMZN) shares rose Monday morning, bringing the tech giant's market capitalization above $3 trillion for the first time. Amazon shares were up 5.2% around midday.AstraZeneca (AZN) is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a company valued at nearly $400 billion, the Financial Times reported Sunday, citing people familiar with the matter. The companies have held discussions in recent months, though a deal could still be delayed or fail to materialize, the report said, citing the people. AstraZeneca shares were down 9.4%, while Bristol Myers Squibb shares were down 0.7%.Lantheus (LNTH) said Monday it signed a definitive agreement to merge with a unit of Curium US Holdings in a deal valued at up to $8 billion. The buyer will pay $102.50 per Lantheus share in cash at closing and up to $12 per share in future milestone-based cash payments through 2030, the company said. The deal is expected to close in H1 2027, subject to regulatory and shareholder approvals. Lantheus shares were up 2.8%.Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. The deal will likely close by the end of Visa's fiscal Q2 2027, the company said. Visa shares were up 0.1%.ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft (MSFT) to implement artificial intelligence tools in its international business processes. The mining company will adopt Microsoft Azure as its primary cloud infrastructure to update core information technology frameworks and centralize data, it said. ArcelorMittal shares were up 1.4%, while Microsoft shares were up 4.9%.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were up 0.2%.GameStop (GME) has agreed to exchange about $1.4 billion of its outstanding 0% convertible senior notes due 2030 and 2032 for its class A common stock without the use of cash. Noteholders are exchanging around $400 million of the 2030 notes and $1 billion of the 2032 notes, the company said. The exchange is expected to close around Sept. 23. GameStop shares were down 12.6%.Price: $285.78, Change: $+14.20, Percent Change: +5.23%
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index down 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.7%.The Philadelphia Housing Index dropped 4.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.4%.Bitcoin (BTC-USD) was increasing 0.5% to $64,166, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.622%.In economic news, the Federal Open Market Committee maintained its target range for the federal funds rate at 3.50% to 3.75% on a 9-3 vote Wednesday afternoon, making few changes to its policy statement from the previous meeting.In corporate news, Gemini Space Station (GEMI) shares dropped 6.9% after Goldman Sachs downgraded the stock to sell from neutral, and trimmed the price target to $4 from $4.75.Bridgepoint Group's Bridgepoint Credit is set to become the majority owner of Carlyle (CG) portfolio company Anthesis Consulting via a recapitalization deal, Bloomberg reported. Separately, Carlyle, Energean, Dragon Oil, and Artemis Energy are among the companies that are expected to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. Carlyle shares were down 3.2%.Visa (V) shares rose 0.8% after it reported fiscal Q3 results above consensus estimates as consumer and business spending helped drive annual gains in payments volume.CBIZ (CBZ) agreed to be acquired by accounting and advisory firm Grant Thornton Advisors in an all-cash deal worth about $5 billion, creating one of the largest providers of professional services, tax and advisory services in the US. CBIZ shares jumped past 17%.
Visa's (V) implied fiscal Q4 exit rate bodes well for initial fiscal 2027 forecast, despite lapping an exceptional fiscal 2026, UBS said in a note Wednesday.The company raised its fiscal 2026 guidance for the second consecutive quarter, while fiscal Q4 guidance calls for net revenue growth at the high-end of the low-double-digit range despite foreign exchange volatility headwinds, according to the note.UBS sees strength in Visa's underlying business, driven by value added services, which now account for over 30% of net revenue, strong pricing, cross-border strength driven by eCommerce trends, improving commercial and US inbound activity, and incremental FIFA-related demand, and Visa Direct, which contributes about 8% to 9% to Visa's payment volume, the note added.Visa sees Pismo as a key driver of better client relationships, revenue growth, product innovation, and its long-term modernization strategy across payments, banking, stablecoins and money movement, the brokerage added.UBS kept a buy rating on Visa and raised its price target to $420 from $410.Price: $370.28, Change: $+3.69, Percent Change: +1.01%
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index down 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.8%.The Philadelphia Housing Index dropped 3.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.3%.Bitcoin (BTC-USD) was decreasing 0.2% to $63,732, and the yield for 10-year US Treasuries was rising 4.7 basis points to 4.651%.In economic news, the US Federal Reserve is likely to remain on hold in the 3.5% to 3.75% target range in July, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.In corporate news, Visa (V) shares rose 1.8%. The company reported fiscal Q3 results above consensus estimates as consumer and business spending helped drive annual gains in payments volume.CBIZ (CBZ) agreed to be acquired by accounting and advisory firm Grant Thornton Advisors in an all-cash deal worth about $5 billion, creating one of the largest providers of professional services, tax and advisory services in the US. CBIZ shares jumped 17%.NextEra Energy (NEE) and Brookfield (BN) are part of a strategic partnership group that will develop a data center campus at the Energy Department's Paducah Site in Kentucky for $100 billion, according to a joint statement. Brookfield shares were down 1.8%.
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index down 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.8%.The Philadelphia Housing Index dropped 3.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.3%.Bitcoin (BTC-USD) was decreasing 0.2% to $63,732, and the yield for 10-year US Treasuries was rising 4.7 basis points to 4.651%.In corporate news, Visa (V) shares rose 1.8%. The company reported fiscal Q3 results above consensus estimates as consumer and business spending helped drive annual gains in payments volume.
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.
The main US stock measures were mostly trending higher in Wednesday's premarket activity as traders await a major policy decision by the Federal Reserve and the latest quarterly results of two of the largest technology companies.The S&P 500 rose 0.2% and the Dow Jones Industrial Average edged up 0.1% before the opening bell, while the Nasdaq declined 0.1%. The S&P 500 and the Dow finished Tuesday trading in the green, with the latter recording its third consecutive day of gains, while the Nasdaq closed lower for the fifth straight session.The Fed's monetary policy committee will announce its latest decision on interest rates at 2 pm ET. The probability of the central bank leaving its benchmark lending rate unchanged stood at about 66% on Wednesday, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Fed Chair Kevin Warsh is expected to hold a press conference at 2:30 pm."The doves are optimistic that inflation could cool further into year-end as the impact of tariffs rolls off and energy prices stabilize," Stifel said in a report Tuesday. "The recent rise in tensions overseas, however, coupled with (artificial intelligence)-sector price pressures suggest further upside inflationary risks remain, shifting the pendulum back into the hawk's camp."Treasury yields were up in premarket action, with the two-year rate increasing 2.9 basis points to 4.31% and the 10-year rate adding 1.6 basis points to 4.62%.Iran's Islamic Revolutionary Guard Corps launched multiple ballistic missiles in "an attempted surprise attack" on US forces based in the Middle East, the US Central Command said in a Tuesday post on the X platform. "All Iranian missiles were successfully intercepted," according to CENTCOM.In a separate statement, CENTCOM said it launched joint strikes with the Saudi Arabian armed forces against "Iran-aligned terrorists" in Iraq on Tuesday.West Texas Intermediate crude oil inclined 3.7% to $82.03 a barrel before the open, while Brent advanced 3.7% to $87.16.Microsoft (MSFT) and Meta Platforms (META) are scheduled to release their latest financial results after the markets close, along with Arm Holdings (ARM), Qualcomm (QCOM) and Starbucks (SBUX).Procter & Gamble (PG), Amphenol (APH), General Dynamics (GD), Johnson Controls (JCI), Boston Scientific (BSX), Humana (HUM) and GE HealthCare Technologies (GEHC) post their earnings before the bell, among others.Shares of Visa (V) decreased 0.8% pre-bell after the payments company reported its fiscal third-quarter results. Ford Motor (F) gained 4.3% as the automaker lifted its full-year core profit outlook. Lucid Group (LCID) was down 0.8% following a 21% jump at the close of Tuesday as Saudi Prince Alwaleed Bin Talal Al Saud disclosed a 5% stake in the company.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am.Gold slipped 0.2% to $4,032 per troy ounce, while bitcoin rose 1.4% to $64,588.
Visa (V) reported fiscal third-quarter results above Wall Street's estimates as consumer and business spending helped drive annual gains in payments volume.Adjusted earnings per share rose to $3.32 during the June quarter from $2.98 a year earlier. The consensus on FactSet was for non-GAAP EPS of $3.23. Revenue rose 14% to $11.63 billion, topping expectations for $11.4 billion."Consumer and business spending remains resilient, and our strategy continues to deliver strong performance across consumer payments, commercial and money movement solutions and value-added services," Chief Executive Ryan McInerney said in a statement.Payments volume rose 10% on a constant-dollar basis, with double-digit gains in both cross-border and processed transactions.Service revenue increased 14% to $4.92 billion, while data processing sales jumped 17% to $6.04 billion. International transaction revenue rose 6% to $3.85 billion.Visa will eliminate about 2,600 jobs, or 7% of its workforce, primarily targeting technology and product teams, the company confirmed toearlier in the day. The cuts are part of McInerney's initiative to streamline company operations.Visa now expects fiscal 2026 adjusted earnings per share to increase at the low end of a mid-teens percentage on a constant-dollar basis, compared with the prior guidance that called for a low-teens increase. Visa projects adjusted revenue to rise at the low end of low teens, versus low-double-digit to low-teens growth previously anticipated.Analysts expect non-GAAP EPS of $13.16 and sales of $45.58 billion for the fiscal year.For the ongoing three-month period, Visa expects adjusted EPS to grow at the low end of mid-teens and net revenue to rise at the high end of low-double-digits. The Street is looking for non-GAAP EPS of $3.45 and sales of $12.06 billion.Shares of the company were down 2.1% in after-market trading, and gained 4.5% this year through Tuesday close.UBS Securities sees Visa and Mastercard (MA) as "the preferred means" of gaining exposure to the payments and financial technology sector, citing their ability to sustain volume growth during economic downturns."Cross-border mix for the card networks has and will continue to evolve, shifting slightly more toward ecommerce, remittances, marketplace payouts, and other cross-border (business-to-business), all of which are faster growth and less cyclical (relative to the largest part of the business, which is cross-border travel)," UBS analysts wrote in a note earlier this month.Mastercard is scheduled to report its quarterly results Thursday.
Financial stocks rose in late Tuesday afternoon trading with the NYSE Financial Index advancing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.1%.The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) increased 0.1% to $63,726, and the yield for 10-year US Treasuries fell 3.7 basis points to 4.604%.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.9%.PayPal (PYPL) raised its full-year adjusted earnings guidance after reporting Q2 results above consensus estimates. Its shares gained 4.5%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.9%.State Street (STT) said Tuesday it reached a preliminary deal to buy a securities services joint venture operating in Brazil, Mexico, and Colombia from Santander (SAN) and Caceis. The targeted business manages about $470 billion in assets under custody alongside $225 billion in assets under administration, the company said. State Street shares were down 1.1%, and Santander was shedding 0.2%.
(Updates with latest market prices and developments.)US benchmark equity indexes were mostly higher intraday as traders tracked fresh earnings reports, while the Federal Reserve kicked off its two-day monetary policy meeting.The Dow Jones Industrial Average was up 1.2% at 52,850.8 after midday Tuesday, while the S&P 500 rose 0.4% to 7,438.8. The Nasdaq Composite was little changed at 24,937.7. Most sectors were in the green, led by health care, while energy saw the sharpest drop.Sherwin-Williams (SHW) jumped 8.7%, the best performer on the Dow and the S&P 500, after the paint and coating manufacturer reported stronger-than-expected second-quarter results and raised its full-year outlook.Boeing (BA) and Coca-Cola (KO) were also among the biggest gainers on the Dow.The planemaker's second-quarter loss exceeded Wall Street's estimates, while its free cash flow turned positive. The beverage giant raised its full-year earnings growth outlook as it reported stronger-than-expected second-quarter results.Chip stocks were among notable laggards intraday, with Sandisk (SNDK) down 14%, the second-worst performer on the S&P 500. Micron Technology (MU) shed 8.8%, Advanced Micro Devices (AMD) declined 7.2% and Intel (INTC) was off by 4.9%.The Federal Open Market Committee's meeting began Tuesday, with a decision due Wednesday. The probability of the central bank leaving its benchmark lending rate unchanged was at about 70%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.With markets expecting no change to the Fed's monetary policy settings, the focus will be on the path forward for interest rates.Last month's bout of disinflation "only further complicates expectations for future inflation and the outlook for rates," Stifel said in a report Tuesday."The doves are optimistic that inflation could cool further into year-end as the impact of tariffs rolls off and energy prices stabilize," the brokerage said. "The recent rise in tensions overseas, however, coupled with (artificial intelligence)-sector price pressures suggest further upside inflationary risks remain, shifting the pendulum back into the hawk's camp."West Texas Intermediate crude oil declined 4.8% to $78.64 a barrel intraday, while Brent dropped 5.4% to $83.60."The oil market continues to sell off heavily, with the US and Iran continuing to hold off on further strikes," ING said.President Donald Trump said Monday that there was "a good chance" of a deal with Iran as talks continued, Reuters reported.Treasury yields were lower intraday, with the two-year rate down 5.2 basis points at 4.27% and the 10-year rate falling 3.9 basis points to 4.6%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed.Visa (V), NXP Semiconductors (NXPI) and automaker Ford (F), among others, are expected to release their earnings after market close.Gold fell 1% to $4,036.10 per troy ounce, while silver lost 2% to $57.55 per ounce.
Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed Tuesday. The consumer confidence index dropped to 90.8 this month from June's upwardly revised reading of 92.2. The consensus was for a 92.4 print in a Bloomberg survey.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.8%.Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg. Barclays shares fell 5.4%.
Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.
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%
(Updates with company confirmation throughout the report.)Visa (V) confirmed in an emailed response toon Tuesday that it will trim around 2,600 jobs, as part of Chief Executive Ryan McInerney's plan to streamline company operations.The cuts, representing 7% of its workforce, will mainly impact technology and product teams.Price: $365.46, Change: $+2.93, Percent Change: +0.81%
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