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Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%.Bitcoin (BTC-USD) was gaining 3.8% to $64,643, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.585%.In corporate news, JPMorgan Chase (JPM) reported Q2 results above market expectations on Tuesday, driven by higher investment banking fees and markets revenue. Its shares rose 1.8%.

$JPM

Wire27d ago

Visa's Remaining Performance Obligations Offer Small Degree of Visibility Into Net Revenue Growth, UBS Says

Visa's (V) remaining performance obligations provide a small degree of visibility into net revenue growth, particularly for its value added services business, while a minor but growing part of its net revenue growth is associated with rising deferred and contracted revenue, UBS Securities said in a note emailed Tuesday.Visa's RPOs represent a subset of contracted value-in-kind incentives associated with VAS, the firm noted. VAS paid for through these incentives contributes about 0.5% to 1% to Visa's total net revenue growth and roughly 2% to 4% to VAS growth, according to the note.The brokerage said it views Visa and Mastercard (MA) as the preferred names for exposure to the broader payments and fintech sector, given their ability to compound revenue in the low-double-digits over the medium-term."We believe investors that believe in the persistence of even ~M-HSD revenue growth for Visa & Mastercard will be rewarded," the firm said.UBS kept its buy rating on Visa with a price target of $410.Price: $358.01, Change: $+0.25, Percent Change: +0.07%

$MA$V

Wire27d ago

DOJ Expands Antitrust Probe of Claritev, Bloomberg Reports

$CTEV

Insider Trading27d ago

Lam Research Insider Sold Shares Worth $6,124,470, According to a Recent SEC Filing

Abhijit Y Talwalkar, Director, on July 13, 2026, sold 18,282 shares in Lam Research (LRCX) for $6,124,470. Following the Form 4 filing with the SEC, Talwalkar has control over a total of 87,142 common shares of the company, with 87,142 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/707549/000131606526000012/xslF345X05/wk-form4_1784048170.xmlPrice: $346.59, Change: $+16.67, Percent Change: +5.05%

$LRCX

Mining & Metals27d ago

Rise Gold to Start Tungsten and Gold Drilling Program At Idaho-Maryland Gold Project

Rise Gold (RISE.CN) is beginning a tungsten and gold exploration drilling program at the Idaho-Maryland Gold Project in Nevada County, California, it said Tuesday.The program will test targets in the Union Hill and Brunswick areas of the mine both for tungsten and gold, said the company. It's expected to include eight core holes for a total of approximately 11,400 feet of drilling from two locations, added Rise Gold."The exploration program's main focus is to test areas of the historic Idaho-Maryland mine where tungsten is known to occur and was produced," said Chief Executive Officer David Watkinson. "While the Idaho-Maryland Mine is one of the richest gold mines historically in the U.S., it may also be important as a potential source of tungsten, a critical metal for the U.S. military."The company's shares last traded July 13, closing at C$0.15 on the Canadian Securities Exchange.

$RISE.CN

Wire27d ago

United Airlines Q2 Earnings Likely Near High End of Guidance, UBS Says

United Airlines (UAL) is likely to post Q2 earnings near the high end of its own guidance range, UBS said in a note Monday. The Q2 results are due on July 15.The report said Q2 EPS is expected at $1.91, above the market consensus of $1.86. The note also said buyside expectations are broadly aligned on unit revenue and cost metrics."We think it's possible that UAL showcases greater sequential acceleration in Atlantic," the note said, adding that United could also see positive reads from Delta Air Lines (DAL) in corporate travel and premium revenue.The report said expectations for Q3 EPS guide is $3.00 to 4.00, with a higher fuel assumption expected to push the range lower.UBS maintained its buy rating with a price target of $153.Price: $120.68, Change: $-0.48, Percent Change: -0.40%

$UAL

Mining & Metals27d ago

Western Uranium on Track to Submit License Application For Mustang Processing Plant in Colorado

Western Uranium & Vanadium (WUC.CN) on Tuesday said it remains on track to submit the full radioactive materials license application for the Mustang Mineral Processing Plant in Montrose County, Colorado, by the end of this year.The company said it is carving out the entire 2027 calendar year for the application review process.Mustang is designed for a throughput capacity of 1,000 tons per day, and once permitted will be constructed modularly, Western Uranium said.Western Uranium shares were last seen down C$0.01 to C$0.51 on the Canadian Securities Exchange.Price: $0.51, Change: $-0.01, Percent Change: -1.92%

$WUC.CN

Sectors27d ago

Sector Update: Tech

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%.The Philadelphia Semiconductor index climbed 2.9%.In corporate news, IBM (IBM) shares tumbled 24% after the company's preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."

$IBM

Mining & Metals27d ago

Zodiac Gold Starts New Drilling Program of up to 5,000 Meters at Its Flagship Arthington Gold Discovery

Zodiac Gold (ZAU.V) on Tuesday said it started a new diamond-drilling program at its flagship Arthington discovery, at the Todi Gold Project in Liberia.The company plans a minimum of 3,000 meters of drilling, with scope to expand to as much as 5,000 meters depending on assay results and the continuity of mineralization encountered.Exploration will be completed using a diamond drill rig, with the possibility of adding a second rig in the fourth quarter to speed-up drilling and turnaround of results, it added."This 3,000-metre program is designed to materially expand the known mineralized footprint along strike and at depth while increasing drill density in support of our planned mineral resource estimate, and we are prepared to increase the program to as much as 5,000 metres should results continue to warrant it," chief executive David Kol said in the release.Shares of the company were last seen down C$0.01, or 2.9%, to C$0.34 on the TSX Venture Exchange.Price: $0.34, Change: $-0.01, Percent Change: -2.86%

$ZAU.V

Wire27d ago

United Airlines to Offer New Economy Plus Seating on A321XLR

United Airlines (UAL) said Tuesday it will introduce a new Economy Plus seating option on its Airbus A321XLR aircraft, featuring extra elbow room and a fixed shared table spanning an open middle seat.The airline expects to offer the seating option on all 50 A321XLR aircraft it has on order and is exploring offering similar seating on other aircraft types.The airline said it plans to begin domestic A321XLR flights this fall, with international service starting by early 2027.Price: $120.81, Change: $-0.35, Percent Change: -0.29%

$UAL

Wire27d ago

TaskUs Shares Rise After Dalton Investments Discloses 5.8% Stake

TaskUs (TASK) shares were up 2.9% in afternoon trading on Tuesday after investment management firm Dalton Investments disclosed in a regulatory filing that it owned around 2.1 million shares in the company, or about 5.8% of the outstanding shares.Trading volume stood at more than 272,000 shares against a daily average of around 630,000.Price: $5.78, Change: $+0.16, Percent Change: +2.76%

$TASK

Wire27d ago

Update: Uber in Advanced Talks Regarding Potential Takeover of Delivery Hero

(Updates with confirmation of talks from Delivery Hero.)Uber Technologies (UBER) is in advanced talks with Delivery Hero regarding a potential takeover of the German food-delivery company, Delivery Hero said on Tuesday.A deal would likely value Delivery Hero well above its recent trading price of about 36 euros ($41.23) per share, Bloomberg News reported, citing people familiar with the matter.Uber didn't immediately reply to requests for comment from.Price: $73.16, Change: $-1.10, Percent Change: -1.48%

$UBER

International27d ago

Federal Reserve Watch for July 14: FOMC Has 'No Tolerance' for Elevated Inflation

Fed Chair Kevin Warsh (voter) said in prepared testimony that the FOMC has "no tolerance" for elevated inflation and is focused on restoring price stability, suggesting that the heightened inflation of the last five years will be "a thing of the past" if policy is done right.Warsh's comments follow a consumer price report for June that showed an energy-led 0.4% decline in the overall index and a flat reading for core prices, slowing the year-over-year rates considerably, though they remain above the Fed's 2% target.Warsh said in his testimony that it was just one data point and that the objective is to achieve price stability so that households do not need to think about it. He said that "job number one" is assuring that short-term inflation does not become sticky and longer-lasting.Warsh added that the balance sheet remains part of monetary policy and that any changes will be clearly announced.He said that politics has no place at the Fed, which will continue to stay out of fiscal policy. He agreed that housing interest rates remain high, which he attributed to high inflation, and repeated that the FOMC will deliver price stability that would lead to housing being more affordable.Recent comments of note:(July 13) Fed Governor Christopher Waller (voter) said that he is watching core inflation, which excludes food and energy prices, closely to determine the underlying path of price growth and to make monetary policy decisions. Waller's comments come one day before the release of June consumer inflation data that is expected to show a slowdown in overall prices due to a drop in gasoline prices but a further gain in core prices that would maintain the current year-over-year rate.(July 9) New York Fed President John Williams (voter) said that he expects energy prices to slow this year even as tensions in the Middle East have picked up but would not comment on how the FOMC could act at its next meeting at the end of the month.

US Markets27d ago

IBM Shares Plunge Following 'Disappointing' Preliminary Second-Quarter Results

IBM (IBM) shares plummeted Tuesday after the company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."The computer and software company expects revenue to increase 1% to $17.2 billion in the June quarter, missing the FactSet-polled consensus of $17.86 billion. IBM projects operating earnings to increase 5% to $2.93 a share, also lagging the Street's $3.01 views.The company's shares plunged 26% in afternoon trade.Second-quarter infrastructure revenue is seen down 7%, while software revenue is projected to rise 5%.The results were "disappointing" amid software and infrastructure "performance shortfall," Krishna said in a letter to investors Tuesday. IBM expected infrastructure revenue to drop low-single digits for the year, according to the letter."What played out was worse than our expectations, driven by a shortfall in our Z performance and the associated software stack, primarily in transaction processing," Krishna said.In the last few weeks of last month, clients shifted their quarterly capital expenditure spending toward servers, storage, and memory purchases to secure "supply-constrained" infrastructure ahead of anticipated price hikes, affecting their buying patterns, according to Krishna."While we anticipated some supply chain-related impact in our expectations, we did not anticipate the magnitude of the capex reprioritization," Krishna wrote. "In addition, clients were distracted with rapidly evolving, industry-wide cybersecurity concerns in the quarter."IBM failed to adapt and "move quickly enough" to tackle the situation, according to the CEO. "Numerous large deals failed to close on the timelines we expected, driving the majority of our shortfall," Krishna said.IBM is on course to deliver the first large-scale fault-tolerant quantum computer by 2029, according to Krishna.The company is scheduled to report full second-quarter results July 22.Price: $216.67, Change: $-73.56, Percent Change: -25.35%

$IBM

Wire27d ago

Update: Market Chatter: Oaktree-Backed Pure DC Builds Finland AI data Center, Microsoft to Be Customer

(Updates with Microsoft's comment in the fifth and sixth paragraphs.)Oaktree Capital Management-backed Pure Data Centres is building a data center campus in Finland that is expected to be used by customers, including Microsoft (MSFT), Bloomberg News reported Tuesday, citing people familiar with the matter.Pure Data Centres is investing 1.5 billion euros ($1.7 billion) in the first phase of the project, which will deliver 110 megawatts of capacity, Bloomberg reported.The site could eventually expand to more than 550 megawatts, representing up to 7.5 billion euros in total investment, according to the report.Pure DC declined to identify customers, citing that the facility is fully leased.A Microsoft spokesperson toldin an emailed response that the company's portfolio includes infrastructure operated under diverse ownership and commercial arrangements globally, but declined to comment on specific facility locations.The company added that it continues to invest in data center infrastructure to support growing customer demand.(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: $387.23, Change: $-3.76, Percent Change: -0.96%

$MSFT

Japan27d ago

Update: Nasdaq, S&P 500 Rise as Inflation Drops for First Time in Six Years, Trump Reverses Plan to Impose Toll on Hormuz Cargo

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, with the Nasdaq Composite and the S&P 500 gaining, as the June inflation rate fell for the first time in more than six years and President Donald Trump withdrew plans to impose a levy on cargo transiting the Strait of Hormuz in the Persian Gulf.The tech-heavy Nasdaq advanced 0.7% to 25,918.2, with the S&P 500 climbing 0.4% to 7,543.4 and the Dow Jones Industrial Average up less than 0.1% to 52,518.3 after midday Tuesday.Financials and technology led gainers, while healthcare was the steepest decliner. IBM's (IBM) shares sank 25%, the steepest decline on the Dow and the S&P 500, after the tech giant issued Q2 guidance below Wall Street expectations.The US seasonally adjusted consumer price index fell by 0.4% month-over-month in June, reportedly the first decline since 2020, compared with expectations for a 0.1% decrease in a Bloomberg-compiled survey and following a 0.5% increase in May, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, held steady, compared with the consensus estimate of 0.2% growth, in line with May's increase.US Treasury yields fell, with the 10-year down 4.1 basis points to 4.57% and the two-year lower by 7.6 basis points to 4.19%.Meanwhile, President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States."There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.The front-month global benchmark North Sea Brent rose 1.9% to $84.91 a barrel, and the US West Texas Intermediate climbed 1.2% to $79.10 a barrel, off session highs.

Dow JonesNasdaq CompositeS&P 500$IBM

Wire27d ago

Macquarie Adjusts Hilton Worldwide Price Target to $326 From $320

Hilton Worldwide (HLT) has an average rating of overweight and mean price target of $352.65, according to analysts polled by FactSet.Price: $324.45, Change: $+2.00, Percent Change: +0.62%

$HLT

Wire27d ago

Wells Fargo Adjusts Price Target on JPMorgan Chase to $375 From $360

JPMorgan Chase (JPM) has an average rating of overweight and mean price target of $356.82, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $340.85, Change: $+6.32, Percent Change: +1.89%

$JPM

Wire27d ago

Macquarie Adjusts Marriott International Price Target to $365 From $354

Marriott International (MAR) has an average rating of overweight and mean price target of $386.61, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $362.52, Change: $-0.35, Percent Change: -0.10%

$MAR

Mining & Metals27d ago

TSX up Over 75 Points at Midday; Materials, Energy, The Best Performers

The Toronto Stock Exchange is up more than 75 points at midday on Tuesday.The best performers are materials, up 3%, boosted by higher precious metals prices, and energy, up 1.1%.Info tech and telecoms are the worst performers , down 1.4% and 1.3%, respectively.In stocks, Mattr (MATR.TO) jumped 23% to $17.11 after it provided preliminary second-quarter results.Thomson Reuters (TRI.TO) said this morning that it is selling a 51% stake in its Global Print business to investment firm KKR for $500 million. its shares were last seen down 1.8% to C$130.83.

S&P/TSX CompositeS&P/TSX Composite$MATR.TO$TRI.TO

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Japan27d ago

Update: Nasdaq, S&P 500 Rise as Inflation Drops for First Time in Six Years, Trump Reverses Plan to Impose Toll on Hormuz Cargo

Dow JonesNasdaq CompositeS&P 500$IBM