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Otis Worldwide's Q2 Service Margin Miss Warrants a More Conservative Medium-Term View, RBC Says

Otis Worldwide's (OTIS) Q2 service segment operating margin miss warrants a more conservative view of the unit over the medium term, RBC Capital Markets said in a Tuesday research report.A Q2 service margin miss was attributed to mix, while profitability was impacted by higher cost inflation, according to the note.The brokerage said it expects 2027 organic growth to accelerate with some potential for margin expansion.The company took the right decision to sacrifice near-term profitability to fix retention and drive more pricing, analysts wrote, adding that they cut 2026 and 2027 adjusted EPS guidance by 5% and 6%, respectively.The brokerage said it reiterated its outperform rating on the stock and cut its price target to $90 per share from $98.Price: $74.08, Change: $+0.89, Percent Change: +1.22%

$OTIS

Wire9d ago

Restaurant Brands' Q2 Setup 'Slightly Unfavorable' on Tim Hortons Weakness, RBC Capital Markets Says

Restaurant Brands International (QSR) faces a "slightly unfavorable" setup ahead of its Q2 results as potential weakness at Tim Hortons could outweigh Burger King's momentum, RBC Capital Markets said in a note Monday.The investment firm expects Burger King's same-store sales to rise 7%, above the consensus estimate of 5.3%, helped by "revamped" marketing campaign, menu initiatives and restaurant renovations. However, Burger King accounts for only about 18% of company earnings before interest and taxes, according to the note.Tim Hortons, which generates about 40% of Restaurant Brands' EBIT, is expected to miss same-store sales estimates by 74 basis points in Q2 as Canadian consumers face greater pressure from higher gas prices, slower population growth and increasing competition, RBC said.The firm also expects international sales to be broadly in line with estimates and Popeye's same-store sales to fall short of consensus, although it views the chain's "operational challenges are largely solvable."RBC Capital Markets has an outperform rating on the stock, with a price target of $85.Restaurant Brands shares were up 0.5% in Tuesday trading.Price: $74.80, Change: $+0.39, Percent Change: +0.52%

$QSR

Wire9d ago

Ensign's 2026 Guidance Increase Reflects 'Strong' Operational, M&A Momentum, RBC Says

Ensign's (ENSG) higher adjusted earnings and revenue guidance reflects "strong" operational and M&A momentum, RBC Capital Markets analysts said in a Monday note.The company's new guidance appears achievable considering its track record of operational outperformance, along with momentum in same-store occupancy and acquisitions heading into the second half of the year, the analysts said.RBC increased Ensign's 2026 adjusted earnings estimate to $7.73 from $7.55, higher than a FactSet consensus estimate of $7.65."Following multiple short reports published intra-quarter, we are pleased to see management come forward with greater detail on ENSG's clinical quality," the analysts said.RBC retained an outperform rating on the stock and increased its price target to $228 from $222.Price: $180.30, Change: $+2.23, Percent Change: +1.25%

$ENSG

Commodities9d ago

PJM Approves Reliability Plan to Address Data Center-Driven Power Demand, UBS Says

PJM Interconnection's board has approved a package of market reforms to bolster grid reliability as electricity demand from data centers surges, marking a key step toward new rules that could reshape how large power users connect to the US grid, UBS strategists said in a Tuesday note.UBS analysts said that the grid operator, which serves 13 states and the District of Columbia, will file the proposals with the Federal Energy Regulatory Commission in the coming days after the board approved the package through its Critical Issue Fast Path process.The measures, developed through PJM's Critical Issue Fast Path process, include a temporary reliability backstop procurement and a "connect and manage" framework designed to shift greater responsibility onto large electricity users driving load growth.The bank said the changes come as PJM faces rapidly rising electricity demand from data centers, accelerating power plant retirements and tightening reserve margins, raising concerns over future supply adequacy.Under the proposal, PJM will launch a Reliability Backstop Procurement in September 2026 to secure up to 6.8 gigawatts of capacity, matching the projected shortfall identified in its 2028/29 Base Residual Auction.The bid solicitation will run from Sept. 30 through Oct. 21, with winning resources selected between Oct. 22 and Dec. 2, 2026.PJM also approved an Interim Resource Adequacy Service framework requiring large new loads connecting after June 1, 2027, to demonstrate they have secured sufficient generation capacity to offset their electricity demand.UBS said that customers that fail to provide adequate capacity would be required to participate in IRAS, under which they could be directed to reduce electricity consumption before PJM implements broader emergency load-management measures.To improve demand forecasting, PJM will establish a registry of large electricity users, with utilities required to provide data on qualifying customers.UBS said the information will support reliability planning and administration of the new programs, while certain data may be shared with authorized entities and, where permitted, made public.PJM said federal policymakers, member states and large-load customers have broadly agreed that new large electricity users should bear the costs associated with the demand they create.However, because PJM lacks authority to assign retail electricity costs directly to individual data centers, the grid operator said implementation would require action by state regulators.PJM said it would support those efforts by providing information from the new registry and existing settlement and billing systems.Large-load customers instructed to curtail electricity consumption under IRAS would receive FERC-approved, performance-based compensation, with eligibility and cost recovery determined by state authorities or other designated entities and administered by local electric distributors.UBS analysts said establishing market rules could facilitate new contracting activity, while noting that additional generation needed to meet rising demand is unlikely to threaten the earnings outlook for existing power plants.

Treasury9d ago

Homerun Resources Gets LOI From European Project Finance Bank

Homerun Resources (HMR.V) received a signed letter of intent (LOI) from a potential project financier to advance its Solar Glass project in Bahia, Brazil, it said Tuesday.The company said the facility contemplates a loan tenor of up to 14 years starting from the commissioning date. The facility also enables lenders to provide long-term financing aligned with the project life cycle at "very competitive pricing".The final commitment will be subject to detailed due diligence, and approvals from certain credit committees, it added. The identity of this party will remain undisclosed at this time, in accordance with confidentiality agreements, the company said.Homerun Resources expects the contemplated facility to align with the equipment package component of its bankable feasibility study for the Solar Glass project, which has been preliminarily estimated at about 170 million euros within a total forecast capital cost of nearly $400 million.Shares of the company were last seen unchanged at C$0.54 on the TSX Venture Exchange.

$HMR.V

Wire9d ago

Vodafone Files Mixed Shelf Registration

Vodafone (VOD) filed a registration statement Tuesday with the US Securities and Exchange Commission for the potential sale of company securities.The filing covers debt securities, warrants, and preference shares, according to the filing.The company said it intends to use net proceeds from the offering for general corporate purposes.Shares of the company were up 3.6% in Tuesday trading.Price: $16.37, Change: $+0.57, Percent Change: +3.61%

$VOD

Wire9d ago

Update: Market Chatter: Amazon Revamps AI Strategy, Prioritizes New Frontier Model

(Updates with Amazon comments in the last two paragraphs.)Amazon.com (AMZN) is scaling back development of several in-house AI models and reorganizing its teams to focus on a new frontier foundation model, Business Insider reported Tuesday, citing people familiar with the matter.The company has shifted resources away from most of its Nova AI models, now maintained primarily for existing customers, following layoffs in its Artificial General Intelligence organization and the shutdown of its AGI Lab, the report said.Amazon is focusing engineering resources on its Frontier Model Research initiative, with a new flagship foundation model expected to debut at its conference later this year, the report said."We're continuing to invest in and support the Nova models our customers rely on today, including through Nova Forge, which lets businesses build their own models on Nova as a foundation," an Amazon spokesperson said in an emailed statement to. "As with any AI portfolio, we continually evolve our model lineup based on what customers need, and we always provide customers clear guidance and migration paths as models advance.""We're also investing in the next generation of frontier model research, and Amazon's commitment to building advanced AI models is as strong as it's ever been," according to the statement.(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: $231.27, Change: $-0.13, Percent Change: -0.05%

$AMZN

Wire9d ago

Sweetgreen's Q2 Results to Focus on Cyclospora Impact on Same-Store-Sales Growth, Outlook, RBC Says

Sweetgreen's (SG) Q2 results are expected to focus on the impact of Cyclospora on the company's quarter-to-date same-store-sales growth and its outlook, RBC Capital Markets said in a note Monday.The company is scheduled to report Q2 results on Aug. 6.While Sweetgreen is not directly impacted, a broader consumer pullback from produce will likely have a near-term impact, though the magnitude and duration of the impact is unclear as the situation is still developing, the brokerage said.RBC believes this could eventually create a buying opportunity for investors, though amid the recent volatility, management may choose to lower full-year 2026 same-store-sales growth guidance, according to the note.An important point of discussion during the earnings call will be the sustainability of wrap demand, as repeat rates remain unclear. The key question will be whether wraps are reengaging lapsed customers and driving frequency for salads and plates as well, the note added.RBC kept an outperform rating on Sweetgreen with a price target of $7.Price: $6.33, Change: $+0.16, Percent Change: +2.51%

$SG

Wire9d ago

Higher Oil Prices Ease SM Energy, Crescent Energy Debt Concerns, Shift Focus to Execution, UBS Says

Higher crude prices have eased investor concerns over debt reduction at SM Energy (SM) and Crescent Energy (CRGY), shifting attention toward acquisition integration and operational execution, UBS said in a Monday note.UBS said its small- and mid-cap oil and gas coverage climbed about 9% on average in July, rebounding from a 21% average decline in the second quarter as West Texas Intermediate crude rose more than 20% amid Middle East tensions.The bank said the 2027 West Texas Intermediate strip has risen more than 8% to above $70 per barrel, strengthening cash flows and supporting deleveraging across much of the sector.Investor feedback following UBS' initiation of coverage on SM Energy and Crescent Energy centered on whether both companies could continue reducing debt if oil prices weaken. UBS said each company can still achieve that goal.UBS said sustained oil-price strength would likely shift investor attention toward execution on recent acquisitions. The bank expects second-quarter earnings to provide updates on operational improvements and synergy gains at both companies.Investors expressed confidence in SM Energy's management team and its plans to increase shareholder returns. Most questions focused on whether the company can lower debt enough to support higher capital returns in a weaker oil-price environment.UBS estimated SM Energy reaches cash-flow neutrality in fiscal 2027 before and after dividends at West Texas Intermediate prices of $49.30/bbl and $52.70/bbl, well below the current 2027 strip of near $71/bbl.Investors also questioned SM Energy's drilling inventory after the Civitas (CIVI) acquisition. UBS estimated reserve life at about 8.6 years following the South Texas sale, below the preferred 10-year level but broadly competitive with peers.UBS said additional appraisal across the Midland Basin, including the Woodford-Barnett interval and Wolfcamp D formation, could expand SM Energy's resource base. The bank also highlighted an 11% increase in 2025 Uinta proved reserves.Investors also sought UBS' view on Crescent Energy's acquisition strategy. The bank expects the company to eventually expand in the Texas Delaware Basin but believes management remains focused on integrating the Vital Energy (VTLE) acquisition and capturing synergies.UBS said investors viewed Crescent Energy's royalty business favorably and supported its estimate of $2.50 to $3.50 per share in equity value for Crescent Royalties.UBS said investors expressed fewer concerns about Crescent Energy's debt than SM Energy's despite both companies carrying leverage of about 2x at the end of the second quarter.Crescent Energy's projected debt of $5.0 billion, versus $6.5 billion for SM Energy, alongside first-quarter synergy capture of more than 120% of target, supports further debt reduction, the bank said.UBS lowered Crescent Energy's projected gas realizations to reflect weaker Waha pricing during the second quarter while raising expected oil realizations.The bank expects SM Energy to expand reserves primarily through discoveries and extensions as it develops acreage across its portfolio, rather than pursuing additional acquisitions to build inventory.UBS said SM Energy continues drilling appraisal and step-out wells across its Midland Basin position and plans to advance secondary bench testing on inherited CIVI acreage, particularly in the Wolfcamp D formation.UBS said SM Energy's integration of its Uinta assets demonstrates its ability to expand reserves organically.After acquiring the assets in 2024, the company increased proved reserves to 110.9 million barrels of oil equivalent at year-end 2025, including 37.3 million boe from discoveries, extensions and positive revisions.The bank expects similar execution on the acquired Permian assets to support future reserve growth and extend inventory.Price: $29.54, Change: $-0.76, Percent Change: -2.51%

$CIVI$CRGY$SM$VTLE

Asia Markets9d ago

Swiss Market Index Closes Higher Amid Busy Earnings Day

The blue-chip Swiss Market Index ended Tuesday's trading session 1.04% in the green as earnings season remains in full swing amid another quiet day of local economic news.It was a busy earnings day in Switzerland with specialty chemicals company Sika (SIKA.SW), fluid engineering company Sulzer (SUN.SW), and packaging company SIG Group (SIGN.SW) among corporates that reported financial results.Sika gained 9.77% after it raised its 2026 revenue growth guidance to between 3% and 6% in local currencies from the previous 1% to 4%. The company also reaffirmed its medium-term targets for sustainable and profitable growth, as it booked a year-over-year net sales growth of 4% in local currencies to 5.59 billion francs in the first half, while net profit declined to 552.1 million francs from 554.4 million francs."H1'26 EBITDA was 4.3% ahead of consensus (H1'26 sales +2.9% ahead), with margins 26bps higher than consensus ... We highlight that H2'26 organic growth is implied at ~+2.6%, compared with the +2.9% seen in H1'26, all while the comparison base gets ~2ppts easier (from +0.6% in H1'25 to -1.5% in H2'25), which could signify conservatism in the guidance. We expect the shares will perform relatively well today given the accelerated momentum on organic growth," according to analysts at RBC Capital Markets.Meanwhile, Cicor Technologies (CICN.SW) agreed to purchase the Malaysian subsidiary of Singapore-based intelligent energy solutions company EDMI for $15 million to $20 million. The deal is anticipated to complete in the fourth quarter, with the electronic components company also entering into a long-term strategic manufacturing partnership with EDMI. At closing, Cicor's shares were up 3.58%."We welcome the transaction and view it as a significant step toward Cicor achieving its goal of CHF 1bn in revenue by 2028. Following the failed TT acquisition in late 2025, this marks the first M&A transaction of 2026, though we anticipate further deals this year," Baader Helvea Equity Research said in a note. "In our view, management has demonstrated that it pursues acquisitions only when the price and synergy effects make sense for the Cicor Group, and it continues to consistently follow this strategy."In other news, a US appeals court dismissed the lawsuit against Switzerland over the write-down of Credit Suisse's outstanding additional tier 1 bonds during UBS Group's (UBSG.SW) emergency takeover of the collapsed lender, Finews.com and Swiss newspaper Aargauer Zeitung reported. The court ruled that Switzerland has sovereign immunity and beyond the jurisdiction of US courts as it acted in its capacity as a sovereign state rather than as a market participant when the write-down was ordered. UBS shares closed 0.91% lower.Outside Switzerland and in geopolitical news, Iran's foreign ministry said it held talks with counterparts in Saudi Arabia and Oman over the future of the Strait of Hormuz "to establish stability in the region and eliminate the insecurity imposed on the Strait of Hormuz caused by the aggressive actions of the United States," according to a CNBC report. The statement comes after President Donald Trump said the US is having "good talks" with Iran, which denied conducting any direct discussions with the former.

^SSMI$CICN.SW$SIGN.SW$SIKA.SW$SUN.SW$UBSG.SW

Wire9d ago

GSK Licensor's Late-Stage China Study for Risvutatug Rezetecan in Bone Cancer Meets Primary Endpoint

GSK (GSK) licensor Hansoh's phase 3 trial of risvutatug rezetecan in osteosarcoma, the most common primary bone cancer, achieved its primary endpoint in progression-free survival, GSK said Tuesday.The trial, which was conducted in China in patients with osteosarcoma who have progressed or relapsed after receiving at least two prior lines of systemic therapy, showed that the therapy led to a statistically significant improvement in progression-free survival compared with chemotherapy, according to the statement.Hansoh also reported consistent benefit across secondary endpoints like overall survival, GSK added.Safety profile was consistent with previous findings in the same tumor type, with no new safety signals identified, the company said. Hansoh will use the trial data for regulatory submissions in China, GSK said.Price: $53.96, Change: $+1.98, Percent Change: +3.80%

$GSK

Wire9d ago

Hershey Likely to Miss Q2 Revenue Estimates on Soft Consumption Data, RBC Capital Markets Says

Hershey (HSY) is expected to report Q2 revenue below expectations due to soft North American confection consumption trends, RBC Capital Markets said in a note Tuesday.Scanner data for the June quarter indicate a 0.6% decline in consumption at the total company level, driven by a 2.9% decrease in confection, suggesting the company will likely miss consensus estimates this quarter, analysts wrote. The company is scheduled to report its Q2 financial results on Thursday.The investment firm said management will likely reiterate 2026 guidance, although the lower end of the range is "more appropriate" for now.Management has said it is confident in its 2027 setup and highlighted that it has no plans for price investment, believing that prices are in the right place, but will use price-pack architecture to ensure affordable entry points, according to the note.RBC Capital Markets reiterated its sector perform rating on the stock and price target of $212.Price: $182.60, Change: $+2.41, Percent Change: +1.34%

$HSY

Mining & Metals9d ago

Lake Victoria Gold Begins Phase 1 Earthworks at Imwelo Gold Project

Lake Victoria Gold (LVG.V) said Tuesday it started Phase 1 earthworks at its Imwelo Gold Project in Tanzania.The company plans to upgrade the existing access road and prepare the plant site under the initial earthworks program, it said. The project's site camp construction is nearing completion."We are establishing the infrastructure in the order the project requires, while ensuring that early investments, including the camp, continue to serve Imwelo through construction and into operations," said Chief Executive Officer Marc Cernovitch.The company's shares were last seen up C$0.01, or 4%, to C$0.26 on the TSX Venture Exchange.Price: $0.26, Change: $+0.01, Percent Change: +4.00%

$LVG.V

Wire9d ago

Morgan Stanley Raises Hartford Insurance Price Target to $145 From $142, Maintains Equal Weight Rating

Hartford Insurance Group (HIG) has an average rating of overweight and mean price target of $149.52, according to analysts polled by FactSet.Price: $142.37, Change: $+2.23, Percent Change: +1.59%

$HIG

Asia Markets9d ago

German Shares Rally; Mercedes-Benz Climbs Post-H1 Results

German equities rallied on Tuesday, with the blue-chip DAX index closing 0.52% higher, partly driven by Mercedes-Benz Group (MBG.F) after reporting its first-half earnings.RBC Capital Markets viewed the German luxury vehicle manufacturer's second-quarter results positively, noting that its adjusted EBIT of 2.30 billion euros and revenue of 32.06 billion euros surpassed consensus forecasts of 1.65 billion euros and 31.90 billion euros, respectively."Mercedes posted a strong Q2 beat vs consensus, highlighted by Car margins coming in at 4%, above the 3.5% consensus level. While mgmt did temper its '26 Revenue/volume guide for the full year, consensus was already below the prior guide... Importantly, Mercedes monetized EUR400M of its 35% Daimler Truck [DTG.F] stake (its stake would imply ~(Euro)12.5B), representing ~3% of MBG's interest. On the positive side, this does indicate that the company is serious about asset monetization, but it likely will be done over a long period of time considering the relatively small disposition size done in Q2," RBC wrote. Mercedes-Benz Group was up 2.88%, while Daimler Truck increased 3.75% at the end of the trading day.Outside the DAX index, photovoltaic projects developer Helios Solar (HE8.F) made its debut on the Frankfurt Stock Exchange's General Standard segment, opening at 4.15 euros per share.In geopolitical news, Gulf nations are reportedly supporting a proposal from Oman that will allow Iran to collect voluntary passage fees in the Strait of Hormuz to help restore disrupted oil trade, a source told Reuters. The report comes as US President Donald Trump noted "good talks" were underway, while threatening renewed strikes unless negotiations produced results."And while Iran's Foreign Ministry suggested that no formal negotiations were taking place with the US, we saw continued reporting of talks between Iran and Oman on re-opening the Strait of Hormuz," Deutsche Bank Research said. "There was also some more concerning news, not least with Houthi attacks on Saudi oil facilities over the weekend. But overall, the focus on talks sent front-month Brent crude -8.70% lower, while 6-month Brent futures were down -3.29% to $79.67 [per barrel]."Back home, the ifo Institute reported that German export expectations marginally improved in July, even as the industry still struggles with building momentum. The ifo export expectations ticked up to -3.3 points from June's -3.6 points, with increases projected in foreign sales across the electrical equipment, beverage, mechanical engineering, and food manufacturers.

^DAX$DTG.F$HE8.F$MBG.F

International9d ago

Canada Seen Absorbing Latest US Tariffs Despite Sector-Specific Pain, RBC Says

Canada's broader growth outlook remains intact despite last week's proposed 50% US tariffs, with the measures affecting only a small portion of bilateral trade according to RBC Economics.While the broader Canadian economy is expected to remain resilient, the impact is likely to be concentrated in sectors such as plastics, electrical machinery, furniture and home appliance manufacturing, mirroring the sector-specific weakness that followed earlier US Section 232 tariffs on autos and steel, wrote RBC in a Friday note.The new tariffs would affect roughly 5% of Canada's exports to the US, leaving more than 80% duty-free. The average effective US tariff on Canadian imports would rise from about 3% to 5.5%, the bank calculated.Unlike tariffs on products such as aluminum, where Canada supplied a dominant share of US imports and American buyers had limited alternatives, the latest measures target products that account for just 3.7% of US imports in those categories, giving US importers greater scope to source from other suppliers, said RBC.As a consequence, the burden is likely to fall more heavily on Canadian exporters, which have far fewer alternative markets. In 2025, around 81% of Canada's exports of the newly tariffed products were destined for the United States, rising to 92% for plastics and related products.As a result, while the overall macroeconomic impact is expected to remain limited, reducing reliance on the US market will remain a longer-term challenge for Canada, added the bank.

$CXY

Asia Markets9d ago

UK Shares Jump Amid Earnings Influx, US-Iran Talks; Unilever Updates Guidance

London's FTSE 100 closed 0.90% higher on Tuesday as corporate earnings dominated the news, while geopolitical tensions eased.Unilever (ULVR.L), up 8.58%, led the blue-chip index after the consumer goods giant raised its full-year outlook, saying it expects underlying sales growth within its 4% to 6% multi-year guidance range, compared with previous guidance of the low end of that range, while forecasting 3% underlying volume growth."This was a very good quarter for Unilever, with even the bit that didn't go well (food in Europe) playing into management's decision to offload that business," RBC Capital Markets said, noting in-line profit and earnings. "Marketing/sales fell by 10 [basis points], but that hardly seems a big problem in the circumstances. Asia in particular benefitted from solid growth 1H in India (+8% in 2H), China (mid single digit) and Indonesia (+7%)."GSK (GSK.L) grew 4.08% after it reported 3% annual growth in turnover for the first half to 16.04 billion pounds sterling and affirmed its 2026 outlook. The drugmaker also intends to invest 400 million pounds in three years to upgrade its research and development facilities and open a new global research and development center in Cambridge, UK.On the downside, lender Barclays (BARC.L) tumbled 5.52% to become the FTSE 100's worst performer as yearly growth in first-half earnings and better-than-expected second-quarter results were offset by a weaker investment banking performance than US peers."[Second-quarter pretax profit] was a 4% beat vs consensus driven by income and impairments, partially offset by higher-than-expected costs," RBC said in another note. "On a divisional basis, the beat was driven by the IB. On an underlying pre-provision profit basis, there was a 2% beat. ... We expect the focus of today's call will be on the return on investment of an acceleration in strategic cost actions and weaker performance than US peers in the IB."In macro news, the UK's shop price inflation softened to 0.9% year over year in July, from 1.2% a month ago, according to a survey by the British Retail Consortium. The latest reading was below the consensus estimate and three-month average of 1.1%, which BRC Chief Executive Helen Dickinson attributed to promotions on food and alcohol during the FIFA World Cup, discounts on clothing and footwear, and other summer deals.On the geopolitical front, US President Donald Trump suspended attacks on Iran, with a plan to resume "very strong military action" if peace negotiations fall through, Deutsche Bank Research said, citing an interview with Axios. Talks are advancing and there is a good chance of reaching an agreement with Iran, Trump told reporters.

FTSE 100$BARC.L$GSK.L$ULVR.L

Wire9d ago

Market Chatter: OpenAI, Anthropic Push Trump Administration to Expand AI Models Requiring Government Review

Microsoft-backed (MSFT) OpenAI and Amazon-backed (AMZN) Anthropic have pushed to expand the types of AI models requiring government review under a looming Trump administration framework to include those from competitors like Meta Platforms (META) and SpaceX's (SPCX) SpaceXAI, The Information reported, citing sources.OpenAI and Anthropic didn't immediately reply 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: $398.97, Change: $+9.86, Percent Change: +2.54%

$AMZN$META$MSFT$SPCX

Asia Markets9d ago

European Stocks Close Higher in Tuesday Trading; Consumer Goods Rally While Tech, Energy Stocks Fall

European stock markets closed higher in Tuesday trading, buoyed by rising consumer goods and automotive stocks, while energy and tech shares continued to fall.The Stoxx Europe 600 gained 0.4%, Germany's DAX increased 0.6%, the FTSE 100 rose 0.9%, France's CAC advanced 0.7%, and the Swiss Market Index closed 1.1% higher.In corporate news, GSK reported Q2 core earnings Tuesday of about 0.50 British pound ($0.67) per share, up from about 0.47 pound a year earlier. Analysts polled by FactSet expected 0.46 pounds.Sales for the quarter ended June 30 were 8.41 billion pounds, up from 7.99 billion pounds a year earlier. Analysts surveyed by FactSet expected 8.25 billion pounds.For 2026, the pharmaceutical company reaffirmed at-constant-exchange-rate guidance for core EPS to increase 7% to 9%, at the lower half of that range, and for turnover to increase 3% to 5%, at the upper half of that range.GSK also said Tuesday it plans to establish a new global research and development facility within Cambridge Biomedical Campus in the UK and spend 400 million pounds over three years to construct the center and upgrade existing laboratories in Ware.Shares of GSK rose 4.2% in London.Barclays reported Q2 earnings Tuesday of 0.167 pound per basic ordinary share, up from 0.117 pound a year earlier.Total income for the quarter ended June 30 was 8.34 billion pounds, up from 7.19 billion pounds a year earlier. Analysts polled by FactSet expected 8.04 billion pounds.The company also said it initiated a share buyback of up to 1 billion pounds, which would commence in Q3.Meanwhile, 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.The bank's performance-related compensation rose nearly 30% year over year to 1.3 billion British pounds ($1.7 billion) in H1 2026, while salaries increased by less than 1%.Barclays did not immediately respond to' request for comment.Shares of the British bank dropped 6% in London.Unilever reported Q2 turnover Tuesday of 13.05 billion euros ($14.84 billion), compared with 12.57 billion euros a year earlier.Analysts polled by FactSet expected 13 billion euros.Underlying sales for the quarter grew 5.8%, the company said.For 2026, Unilever said it continues to expect underlying sales growth to be within its multi-year guidance range of 4% to 6%.Shares of the consumer goods giant jumped nearly 9% in London.Stellantis has agreed to sell its entire stake in Free2move's car-sharing business to Mutares, the companies said Tuesday.Free2move provides free-floating car-sharing services in Europe and the US. The financial terms of the deal weren't disclosed.Shares of the European automaker increased 1.5% in Paris.HSBC Chief People and Governance Officer Aileen Taylor plans to relocate from London to Hong Kong later this year, Bloomberg reported Tuesday, citing people familiar with the matter.The report said Taylor, a member of HSBC's 13-person group operating committee, will join a growing number of senior executives based in the bank's largest market.HSBC declined to comment when contacted by.Shares of HSBC were off 0.4% in London.BHP and unions representing workers at its Port Hedland iron ore operations ended the latest round of wage negotiations without reaching an agreement, Reuters reported Tuesday.The Combined Ports Unions said negotiations will resume next Tuesday, while the Electrical Trades Union, one of three unions in the group, is due to hold separate talks with BHP on Thursday, the report said.BHP did not immediately respond to' request for comment.Shares of the mining company edged 0.2% higher in London.

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Wire9d ago

Financial News · Live Terminal

Otis Worldwide's Q2 Service Margin Miss Warrants a More Conservative Medium-Term View, RBC Says

Restaurant Brands' Q2 Setup 'Slightly Unfavorable' on Tim Hortons Weakness, RBC Capital Markets Says

Ensign's 2026 Guidance Increase Reflects 'Strong' Operational, M&A Momentum, RBC Says

PJM Approves Reliability Plan to Address Data Center-Driven Power Demand, UBS Says

Homerun Resources Gets LOI From European Project Finance Bank

Vodafone Files Mixed Shelf Registration

Update: Market Chatter: Amazon Revamps AI Strategy, Prioritizes New Frontier Model

Sweetgreen's Q2 Results to Focus on Cyclospora Impact on Same-Store-Sales Growth, Outlook, RBC Says

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

Higher Oil Prices Ease SM Energy, Crescent Energy Debt Concerns, Shift Focus to Execution, UBS Says

Swiss Market Index Closes Higher Amid Busy Earnings Day

GSK Licensor's Late-Stage China Study for Risvutatug Rezetecan in Bone Cancer Meets Primary Endpoint

Hershey Likely to Miss Q2 Revenue Estimates on Soft Consumption Data, RBC Capital Markets Says

Lake Victoria Gold Begins Phase 1 Earthworks at Imwelo Gold Project

Morgan Stanley Raises Hartford Insurance Price Target to $145 From $142, Maintains Equal Weight Rating

German Shares Rally; Mercedes-Benz Climbs Post-H1 Results

Canada Seen Absorbing Latest US Tariffs Despite Sector-Specific Pain, RBC Says

UK Shares Jump Amid Earnings Influx, US-Iran Talks; Unilever Updates Guidance

Market Chatter: OpenAI, Anthropic Push Trump Administration to Expand AI Models Requiring Government Review

European Stocks Close Higher in Tuesday Trading; Consumer Goods Rally While Tech, Energy Stocks Fall

Otis Worldwide's Q2 Service Margin Miss Warrants a More Conservative Medium-Term View, RBC Says

Restaurant Brands' Q2 Setup 'Slightly Unfavorable' on Tim Hortons Weakness, RBC Capital Markets Says

Ensign's 2026 Guidance Increase Reflects 'Strong' Operational, M&A Momentum, RBC Says

PJM Approves Reliability Plan to Address Data Center-Driven Power Demand, UBS Says

Homerun Resources Gets LOI From European Project Finance Bank

Vodafone Files Mixed Shelf Registration

Update: Market Chatter: Amazon Revamps AI Strategy, Prioritizes New Frontier Model

Sweetgreen's Q2 Results to Focus on Cyclospora Impact on Same-Store-Sales Growth, Outlook, RBC Says

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

Higher Oil Prices Ease SM Energy, Crescent Energy Debt Concerns, Shift Focus to Execution, UBS Says

Swiss Market Index Closes Higher Amid Busy Earnings Day

GSK Licensor's Late-Stage China Study for Risvutatug Rezetecan in Bone Cancer Meets Primary Endpoint

Hershey Likely to Miss Q2 Revenue Estimates on Soft Consumption Data, RBC Capital Markets Says

Lake Victoria Gold Begins Phase 1 Earthworks at Imwelo Gold Project

Morgan Stanley Raises Hartford Insurance Price Target to $145 From $142, Maintains Equal Weight Rating

German Shares Rally; Mercedes-Benz Climbs Post-H1 Results

Canada Seen Absorbing Latest US Tariffs Despite Sector-Specific Pain, RBC Says

UK Shares Jump Amid Earnings Influx, US-Iran Talks; Unilever Updates Guidance

Market Chatter: OpenAI, Anthropic Push Trump Administration to Expand AI Models Requiring Government Review

European Stocks Close Higher in Tuesday Trading; Consumer Goods Rally While Tech, Energy Stocks Fall