Daily US Equity Opening News - PLTR jumps on Q2 beat & raise; ON up after beat & raise; SNAP rises on revenue and user beats; Bezos reveals USD 4.1bln AMZN share sale plan; Saudi Aramco net income surges

DAY AHEAD:

EVENTS: OpenAI, Anthropic and Google plan to attend a White House meeting on voluntary AI safety testing today.
DATA: In North America, US JOLTs job openings leads seen at 7.45mln in June (prev. 7.594mln); last time out, the quits rate was unchanged at 1.9%, and the vacancy rate was unchanged at 4.6%. US trade balance in June is expected to see the deficit narrow to USD -73bln (prev. USD -77.6bln); US factory orders are seen rising 0.2% M/M in June (prev. -1.3%). The Atlanta Fed GDPNow tracker for Q3 will be updated after today’s data. In Canada, the trade balance is seen at CAD 3.0bln (prev. CAD 4.24bln), while S&P will also release Canada’s global manufacturing PMI for July (prev. 53.0).
CENTRAL BANKS: Fed’s Paulson (voter, neutral) speaks on CNBC; ECB publishes Bulletin pre-release on venture capital financing and high-growth firms; BoE releases Q2 Asset Purchase Facility report.
SUPPLY: UK sells GBP 4.25bln of 2032 debt. Germany auctions EUR 6bln of 2028 Schatz.
ENERGY: Afterhours, the API will report weekly energy inventories data.
EARNINGS: Notable earnings due today include: SpaceX (SPCX), AMD (AMD), Caterpillar (CAT), Merck (MRK), Arista (ANET), Amgen (AMGN), McDonald’s (MCD), Gilead (GILD), Booking Holdings (BKNG), Pfizer (PFE), Progressive (PGR), Spotify (SPOT), Duke Energy (DUK), Marathon Petroleum (MPC), Cummins (CMI), Emerson Electric (EMR), TransDigm (TDG), Apollo (APO), W.W. Grainger (GWW), AMETEK (AME), Rockwell Automation (ROK), Astera Labs (ALAB), Devon Energy (DVN), IDEXX (IDXX), Prudential (PRU), Sysco (SYY), Archer-Daniels-Midland (ADM), Public Service Enterprise Group (PEG), Waters (WAT), Kimberly-Clark (KMB), NRG Energy (NRG), International Flavors & Fragrances (IFF), DuPont (DD), Wynn Resorts (WYNN), Paramount Skydance (PSKY), Mosaic Company (MOS).

NEWS:

GEOPOLITICS:

US-Iran - A US base in Kuwait was reportedly struck by three drones, in an attack attributed to the IRGC, i24 reports. The report adds that Iran launched at least 3 drones at ships in Hormuz during the last 24 hours.
US-Iran - President Trump called proposed talks Iran’s “last chance” after cancelling threatened strikes, saying the conflict was progressing well and that a possible Strait of Hormuz reopening could be targeted by Tuesday. Iran denied negotiating directly with the US, but said discussions with Oman on temporary shipping routes were progressing. Reports citing US officials said there were no ‘new’ or novel negotiations planned, only the ongoing talks between the US and Iranian teams through mediators.
US-Iran - Iranian officials increasingly believe Donald Trump seeks negotiating leverage rather than wider war, Al Arabiya and CBS reported. Adviser Rezaei warned continued blockade could endanger US forces, and rejected a second Hormuz corridor. Iran reportedly plans to sustain pressure through proxies and shipping threats.

MACRO:

US Fiscal - The US Senate voted 89-4 to advance a stopgap funding bill that would keep the government funded through 11th December. The bill also temporarily blocks a Trump administration proposal to give political appointees final say over scientific grants. The House, which passed its own shorter continuing resolution last month, would need to take up the Senate version when it returns in September.
JPY - Treasury Secretary Bessent urged the Fed to expand its FIMA repo facility, helping Japan defend the JPY without selling Treasuries, Bloomberg reports. Japan has confirmed JPY purchases, as well as future FIMA use. The request was considered unusual because Treasury and the Fed typically coordinate such operational changes privately. Citi’s analysts said Japan can defend the yen without selling its USD 1.1tln US Treasury holdings by using Fed repo facilities, foreign central-bank deposits or EUR assets, adding that accessing dollars against Treasuries through the FIMA facility can reduce immediate risks from bond sales as authorities consider further intervention. Meanwhile, Bloomberg reports that the yen’s ability to strengthen beyond 155 vs the USD is viewed as a key test; a sustained break could prompt short-covering and further gains toward 152, while failure may revive concerns that authorities have exhausted options and push the yen back toward 160-162.
European Water Levels - The Rhine fell to 24cm at Kaub, its lowest level since records began in 1880, threatening European trade, Bloomberg says. Shallow water is forcing barges to cut loads and raising freight costs. Low Danube levels also shut Hungary’s Paks nuclear plant, removing 40% of national generation capacity.

TRADE:

Tariffs - Twenty-five states filed a lawsuit against the Trump administration’s forced labour tariffs of 10-12.5% on more than 80 nations, arguing the required investigations were rushed, and the levies were not justified, WSJ reports. The suit was filed at the US Court of International Trade. Trade lawyers noted the challenge faces longer odds than previous tariff lawsuits, as the new levies were imposed under the more established Section 301 of the Trade Act of 1974.

TECH:

AI Safety - OpenAI, Anthropic and Google (GOOG) plan to attend a White House meeting on voluntary AI safety testing. The framework follows a June executive order and recent disclosures of models escaping secure environments. Talks will address consistency in reviews, cybersecurity risks and growing competition from lower-cost Chinese models, including Moonshot AI’s Kimi K3 and Alibaba’s (BABA) Qwen3.8-Max.
Huawei, Nvidia (NVDA) - Huawei’s top semiconductor scientist Liao Heng warned that Nvidia and other Western chipmakers will soon hit physical limits in scaling up chip density and high-bandwidth memory, predicting an “avalanche” once those limits are crossed, Bloomberg reports. Huawei’s alternative approach, the Tau Scaling Law, focuses on improving transmission speeds between system components rather than transistor shrinkage, with the company set to unveil its first chip designed under this framework later this year.
Apple (AAPL) - Apple exceeded USD 10bln in annual India sales for the first time in the fiscal year through March, up from around USD 9bln a year earlier. iPhones accounted for a significant majority of revenue, with iPads and MacBooks also growing. India now manufactures one in every four iPhones, making it Apple’s primary source of US-bound devices. Separately, Apple briefly removed Telegram from its App Store after finding child sexual abuse material, Bloomberg reports. The app was unavailable to some users in the US, India, Australia and Singapore, then restored after Telegram removed the content and banned the user.
Palantir Technologies (PLTR) - Shares jumped almost 15% in extended trading after better than expected Q2 metrics, surging US commercial demand, and a raised FY outlook. Q2 adj. EPS 0.41 (exp. 0.35), Q2 revenue USD 1.935bln (exp. 1.81bln). Overall revenue rose 93% Y/Y, US commercial revenue +149% Y/Y (and +28% Q/Q), while US government revenue +90% Y/Y (+18% Q/Q); its Rule of 40 score reached 155%. Management cited accelerating demand for sovereign AI, and said its platform can orchestrate, fine-tune and switch between models while protecting enterprise data. Expects a significant increase in Q3 expenses due to seasonal new-hire starts and product and marketing initiatives. Sees Q3 revenue between USD 2.16-2.164bln (exp. 2bln), adj. operating income between USD 1.292-1.296bln. Raised FY26 revenue view to between USD 8.15-8.158bln (exp. 7.72bln; prev. saw 7.65-7.662bln), and sees US commercial revenue to more than USD 3.424bln, adj. operating income to between USD 4.889-4.897bln (prev. saw 4.44-4.452bln), and adj. FCF to between USD 4.5-4.7bln (prev. saw 4.2-4.4bln).
Onsemi (ON) - Shares rose 6% in extended trading after earnings and revenue topped expectations, and it raised its outlook for AI data centre sales. Q2 adj. EPS 0.74 (exp. 0.72), Q2 revenue USD 1.6bln (exp. 1.59bln). Revenue, gross margin and EPS were above the midpoint of guidance, supported by strengthening demand in AI-driven applications and adoption of Treo and high-voltage power solutions. Said AI data centre remains its fastest-growing business, and expects revenue from the segment to more than double in 2026. Onsemi sees Q3 adj. EPS between 0.81-0.93 (exp. 0.84), sees Q3 revenue between USD 1.65-1.75bln (exp. 1.67bln), sees Q3 gross margin between 40.0-42.0%, and sees Q3 operating expenses between USD 303-318mln.
Anthropic - China is increasingly concerned that Anthropic’s Mythos and other US frontier AI models could be used offensively against it, Bloomberg reports. Beijing is considering possible sanctions or restricted-entity measures if Washington targets Chinese AI companies, and seeks cooperation before Xi Jinping’s planned meeting with President Trump. Anthropic has already advocated tighter US controls on Chinese AI access.
Sandisk (SNDK), SK Hynix (SKHY) - Sandisk and SK Hynix released an HBF technical specification through the Open Compute Project to support AI inference systems. Google (GOOG) and Tenstorrent contributed to validation and standardisation. The framework targets higher-capacity, high-bandwidth memory closer to compute, aiming to improve performance, power efficiency and total cost of ownership.
HP Inc (HPQ), ASUSTeK (ASUUY), Acer (2353 TW) - HP, Asus and Acer have begun using limited quantities of DRAM from China’s ChangXin Memory Technologies in non-US market notebook computers amid the memory shortages, Nikkei reports. The PC makers are adopting a cautious approach given concerns about antagonising Micron (MU), Samsung (SSNLF) and SK Hynix (SKHY), which together hold over 90% of global market share, the report says.
CACI International (CACI), Oracle (ORCL) - CACI International will support Oracle on the US Office of Personnel Management’s 10-year HR technology modernisation contract worth nearly USD 400mln. Alongside Baker Tilly and Deloitte, CACI will consolidate federal HR systems into a secure cloud platform, targeting over 90% cost savings and improved efficiency, security and service delivery.
ams-OSRAM (AMSSY) - Q2 adj. EBITDA 136mln (prev. 145mln Y/Y), Q2 revenue EUR 805mln (exp. 788.6mln), Q2 adj. EPS fell to -0.56 (from 0.18 Y/Y). Its microLED-array-based RGB light engines achieved key development milestones for next-generation smart glasses, validating performance and advancing towards mass-production readiness. Sees Q3 revenue between EUR 770-870mln (exp. 799.8mln), sees Q3 adj. EBITDA margin of 14.5-17.5%; backed its FY26 outlook.

COMMUNICATIONS:

Snap (SNAP) - Shares rose by 7% in afterhours trading following revenue, earnings and user metrics beats, and its sales outlook was stronger than forecast, while advertising momentum improved. Q2 EPS -0.10 (exp. 0.06), Q2 revenue USD 1.599bln (exp. 1.53bln). Global daily active users +5% Y/Y to 493mln (exp. 487mln), monthly active users reached 971mln, global ARPU reached USD 3.25 (exp. 3.16). Advertising improvements drove a 56% increase in conversions, with stronger performance among app, e-commerce and lower-funnel advertisers. Expects sustained positive net income beginning in 2027, and plans a new multi-year dilution-management programme after its current repurchase programme concludes in Q4, targeting a stable fully diluted share count in 2027. Sees Q3 revenue between USD 1.7-1.74bln (exp. 1.69bln), Q3 adj. EBITDA between USD 300-350mln. Raised its FY26 infrastructure cost outlook to between USD 1.65-1.7bln (prev. saw 1.6-1.65bln), reflecting additional AI and machine-learning investment.
TKO Group (TKO) - Shares were up around 2% afterhours following raised FY revenue and earnings guidance, supported by higher media rights fees and strong growth across UFC, WWE and IMG. Q2 EPS 1.34 (exp. 1.09), Q2 revenue USD 1.547bln (exp. 1.53bln). Management said the company delivered solid results despite a challenging global environment, with strong momentum entering H2, and its premium live content and experiences are positioned to benefit from secular demand. Sees FY26 revenue between USD 5.775-5.825bln (exp. 5.77bln), sees FY26 adj. EBITDA between USD 2.275-2.305bln.

CONSUMER CYCLICAL:

Amazon (AMZN) - Shares fell around 1.3% in afterhours trading on reports that founder Jeff Bezos plans to sell up to 15mln Amazon shares, worth about USD 4.1bln, via a prearranged trading plan.
Toyota Motor (TM) - Q1 net income 1.48tln (prev. 841.4bln Y/Y), Q1 revenue JPY 13.5tln (prev. 12.3tln Y/Y). Pre-tax profit rose to JPY 1.96tln (from JPY 1.25tln Y/Y). Raised its FY27 operating income outlook to JPY 3.4tln (from JPY 3.0tln) and raised its FY27 revenue outlook to JPY 54tln (from JPY 51tln), supported by updated FX assumptions and resilient hybrid demand in the US and Japan. Authorised a share buyback of up to JPY 1tln, capped at 500mln shares, through August 2027, and plans to cancel 200mln treasury shares after completion.
Yum Brands (YUM) - Michigan health officials contacted Yum Brands on 2nd July about a cyclospora outbreak, weeks before Taco Bell notified consumers, Bloomberg reports. Officials requested discussions with Yum’s supply-chain quality and communications teams about possible interventions and consumer notifications to reduce further cases.
Whirlpool (WHR) - Q2 adj. EPS -0.21 (exp. 0.05), Q2 revenue USD 3.52bln (exp. 3.55bln). Management noted sequential margin expansion driven by price increases, cost reductions and product innovation. Lowered its FY26 adj. EPS view to between 2.50-3.00 (exp. 2.35; prev. saw 3.00-3.50), maintained its FY26 revenue view at around USD 15bln (exp. 14.9bln), and sees FY26 cash from operating activities of USD 700mln, free cash flow above USD 300mln and year-end net debt below USD 5bln.
Allison Transmission (ALSN) - Q2 adj. EPS 2.73 (exp. 2.59), Q2 revenue USD 1.57bln (exp. 1.51bln). Net sales reached a record USD 860mln, supported by defence growth and continued North American truck momentum, while off-highway demand improved in construction, material handling and mining. Q2 adj. free cash flow reached a record USD 281mln. Sees FY26 revenue between USD 5.6-5.8bln (exp. 5.81bln; prev. saw 5.58-5.93bln), sees FY26 adj. EBITDA between USD 1.465-1.575bln (prev. saw 1.365-1.515bln), and sees FY26 capex between USD 260-280mln.
Best Buy (BBY) - Best Buy appointed Anne Bramman as CFO, effective 19th August. She previously served as CFO at Circana, Nordstrom, Avery Dennison and Carnival Cruise Line.
Continental (CTTAY) - Revenue in-line, adj. EBIT margin beat, FY guidance was below expectations; expects raw material costs to be “substantially” higher in H2. Q2 revenue EUR 4.4bln (exp. 4.41bln), adj. EBIT Margin 12.9% (exp. 12.3%), adj. EBIT 570mln (exp. 540mln), adj. FCF 216mln (exp. 117.2mln). Sees FY26 revenue between 13.2-14.2bln (exp. 17.9bln), adj. EBIT margin between 12-13.5%. Guidance excludes ContiTech, due to planned sale. Says that while the European replacement-tire market for passenger cars and light commercial vehicles increased by 3% due to imports, the North American market declined by 1%. Global automotive production was also down approximately 1% Y/Y.
Zalando (ZLNDY) - Revenue missed, FY guidance seen at the lower end of the range, and narrowed its EBIT view. Q2 adj. EBIT 204.8mln (prev. 185.5mln Y/Y), Q2 revenue EUR 3.42bln (exp. 3.47bln). Group GMV +20.9% Y/Y to EUR 4.92bln (from EUR 4.07bln), while net income fell to EUR 73.8mln (from EUR 96.6mln). Sees FY26 GMV and revenue growth in the lower half of its 12-17% range, and narrowed its FY26 adj. EBIT view to between EUR 680-720mln (prev. saw 660-740mln), supported by About You synergies, logistics efficiencies and growth in higher-margin partner, software and retail media businesses.

CONSUMER DEFENSIVE:

Clorox (CLX) - Q4 adj. EPS 1.66 (exp. 1.65), Q4 revenue USD 1.95bln (exp. 1.91bln). Gross margin fell 520bps Y/Y to 41.3%, reflecting lower volume, the GOJO inventory step-up, higher commodity costs and increased manufacturing and logistics expenses. Purell performed ahead of targets. GOJO acquisition was accretive in Q4. FY27 investments will focus on product superiority and packaging. Sees FY27 adj. EPS between 5.70-6.00 (exp. 5.95), net sales growth between 13-14%, including about 9.5ppts from GOJO, organic sales growth between 3.5-4.5%, gross margin of about 42%. Expects FY27 inflation above USD 200mln, more than double its historical range, with pressure across the broader supply chain.

FINANCIALS:

HSBC Holdings (HSBC) - Q2 pre-tax profit USD 10.1bln (exp. 9.5bln), H1 pre-tax profit +23% Y/Y to USD 19.5bln. Wealth inflows moderated to USD 25bln in the quarter (vs USD 39bln in Q1), remaining broadly flat Y/Y amid Beijing’s clampdown on cross-border capital flows. Provisions totalled USD 1.1bln, including charges related to Hong Kong commercial real estate. Approved a second interim dividend of USD 0.10/shr, and announced a buyback of up to USD 1bln, resuming repurchases following a pause to accommodate the Hang Seng Bank privatisation. The restructuring cost-saving target was raised to USD 2bln (from USD 1.5bln), with the bank having exited 15 non-strategic businesses since 2025. CEO said portfolio rationalisation was progressing. Sees FY26 banking net interest income of ‘at least’ USD 46bln (prev. saw ‘around’ 46bln).
BlackRock (BLK) - BlackRock is launching tokenised versions of selected European money-market funds using JPMorgan’s (JPM) Kinexys platform, Bloomberg reports. Sterling, euro and US-dollar share classes will be available, with each token representing one fund share transferable between approved wallets.
Bank of America (BAC) - Bank of America appointed Simbah Mutasa to lead investment banking across Africa, and Sjoerd van Hooijdonk to lead Benelux investment banking.

REAL ESTATE:

Segro (SEGXF), Prologis (PLD) - Segro agreed to Prologis’s takeover offer worth up to GBP 14.3bln; the bid comprises 0.0920 Prologis shares and up to GBP 3.5bln cash, representing about a 14% premium to net asset value, and 45% above Segro’s pre-bid share price. Prologis may also pursue a secondary London listing.
SBA Communications (SBAC) - Q2 AFFO 3.05 (exp. 2.96), Q2 revenue USD 715.274mln (exp. 705.42mln). Carrier activity remained steady, supported by site upgrades, new colocations and increased tower construction in Central America. The company issued USD 3.5bln of senior unsecured notes and replaced its secured revolving credit facility with a USD 2.5bln unsecured facility, ending the quarter with net debt to adj. EBITDA of 6.4x. Expects continued dividend growth, portfolio investment and incremental share repurchases. Sees FY26 AFFO between 11.95-12.40 (exp. 12.20), sees FY26 revenue between USD 2.841-2.886bln (exp. 2.86bln).
Alexandria Real Estate (ARE) - Q2 normalised FFO 1.73 (exp. 1.65), Q2 revenue USD 662.78mln (exp. 655mln). Alexandria narrowed its FY26 normalised FFO outlook to between 6.35-6.45 (exp. 6.36; prev. saw 6.30-6.50).

ENERGY:

Exxon (XOM), Chevron (CVX) - President Trump criticised ExxonMobil and Chevron for earning USD 29bln combined in Q2 and urged them to reduce fuel prices. He said the companies were making excessive profits. ExxonMobil and Chevron denied price-gouging claims, attributing results to higher oil prices, production and refining margins.
Saudi Aramco - Saudi Aramco’s Q2 adj. net income rose above expectations , as higher crude, refined-product and chemical prices supported despite lower sales volumes; it used its East-West pipeline to bypass Hormuz disruptions; declared a Q2 base dividend of USD 21.9bln. Q2 adj. net income +33% Y/Y to USD 33.4bln (exp. 31.1bln). Benchmark Brent crude averaged approximately USD 97/bbl during the quarter as the closure of the Strait of Hormuz, driven by the US-Iran conflict, caused the largest oil supply disruption on record, with Aramco redirecting the bulk of its exports via the East-West Pipeline to the Red Sea. Elevated refined-product prices provided an additional margin tailwind, sustaining returns even as Brent temporarily retreated below USD 75/bbl following an interim ceasefire agreement. It flagged mounting risk to Red Sea export volumes as Houthi militants threaten attacks on tankers using that route. On call, CEO said attacks on its assets in July had no material impact on operations.
BP (BP) - Q2 adj. net income 5.73bln (exp. 5.01bln), more than doubling Y/Y and reaching its highest level in more than four years, supported by stronger oil trading and refining margins during the Iran war. BP also launched a process to sell its Archaea Energy renewable natural gas business as part of its wider portfolio simplification, cost reduction and balance-sheet repair strategy.
Diamondback Energy (FANG) - Shares slipped afterhours despite better-than-expected earnings and revenue. Q2 adj. EPS 6.28 (exp. 5.98), Q2 revenue USD 5.56bln (exp. 4.95bln). Average oil production was 525 MBO/d. Raised its FY26 net production outlook to 1,000 MBOE/d (from 972 MBOE/d), and sees FY26 capex of USD 3.9bln. Sees Q3 oil production between 517-527 MBO/d, and Q3 capex between USD 950mln-1.05bln.
ONEOK (OKE) - Q2 EPS 1.53 (exp. 1.40), Q2 revenue USD 12.05bln (exp. 8.95bln). Higher volumes across the business, including record NGL volumes, drove another quarter of earnings growth, while strategic projects nearing completion are expected to expand connectivity and support momentum into H2. Raised FY26 EPS outlook midpoint to 5.68 (exp. 5.79), raised FY26 net income view to between USD 3.41-3.79bln, raised FY26 adj. EBITDA outlook to between USD 8.2-8.5bln. Bakced its FY26 capex view between USD 2.7-3.2bln.
Williams Companies (WMB) - Q2 adj. EPS 0.50 (exp. 0.50), Q2 revenue USD 3.05bln (exp. 2.82bln). Adj. EBITDA +6% Y/Y to USD 1.921bln, driven by transmission and Gulf Coast expansions, higher natural gas storage revenue and strong gathering performance. Raised its FY26 adj. EBITDA outlook to between USD 8.3-8.5bln (prev. saw 8.05-8.35bln), and raised FY26 growth capex guidance to between USD 7.3-7.9bln (prev. saw 7-7.6bln). Williams has agreed to acquire Momentum Midstream for up to USD 5.5bln, comprising about USD 3.5bln in cash and debt and USD 2bln in equity; the Haynesville assets include over 4,000 miles of pipelines and 6bln cubic feet per day of gathering capacity; deal expected to boost earnings and AFFO per share.

INDUSTRIALS:

RTX (RTX) - RTX received a USD 271.49mln US Navy contract for AEGIS fire-control and modernisation equipment plus engineering support. Options could raise the value to USD 302.48mln.
Lufthansa (DLAKY) - Q2 adj. EBIT 383mln (exp. 408mln), Q2 net profit was EUR 123mln (exp. 327.6mln), Q2 revenue EUR 11.14bln (exp. 11.04bln); adj. EBIT fell as fuel costs rose by EUR 750mln; improved load factors and higher yields were insufficient to offset the fuel-cost increase. Sees FY26 adj. EBIT between EUR 1.7-2.2bln (exp. 1.79bln; prev. saw significantly above 1.96bln); outlook remains subject to heightened uncertainty from short booking cycles, geopolitical and macroeconomic conditions and aircraft delivery timing.

MATERIALS:

Rare Earths - The US Defence Logistics Agency cancelled a tender for nearly 36mln pounds of battery-grade lithium carbonate worth up to USD 300mln, without providing a reason, according to Bloomberg. The tender, announced on 2nd July, was the latest in a series of critical mineral procurement setbacks following last year’s cancellation of a USD 500mln cobalt tender.
Evonik (EVKIY) - Q2 adj. EBITDA 630mln (prev. 509mln Y/Y), adj. EBIT rose to EUR 370mln (from EUR 250mln Y/Y), Q2 revenue EUR 3.89bln (exp. 3.82bln); raised its FY26 adj. EBITDA view to between EUR 2-2.2bln (prev. saw 1.7-2bln).

HEALTHCARE:

Bayer (BAYRY) - Q2 adj. EBITDA EUR 2.14bln (exp. 1.93bln); profit was supported by a strong performance in the crop science business. Maintained its FY26 outlook.
Eli Lilly (LLY) - Eli Lilly confirmed to STAT News that it will let more patients apply for early access to retatrutide, an unapproved obesity drug. Access will be limited to patients meeting specific medical criteria who cannot join a clinical trial. Lilly said it is reviewing requests from healthcare providers and will provide the drug before FDA approval in line with agency guidance.
Vertex Pharmaceuticals (VRTX) - Shares dipped slightly in extended trading after quarterly earnings narrowly missed, outweighing stronger sales and a raised FY outlook. Q2 adj. EPS 4.73 (exp. 4.75), Q2 revenue USD 3.33bln (exp. 3.22bln). It cited continued strength in cystic fibrosis, sickle cell disease, beta thalassaemia and acute pain. The pending Crinetics Pharmaceuticals acquisition is expected to add rare endocrine diseases as a fifth growth pillar. Raised its FY26 revenue outlook to between USD 13.1-13.2bln (exp. 13.05bln; prev. saw 12.95-13.1bln), including at least USD 500mln from CASGEVY and JOURNAVX, and an approximately 150bps Y/Y FX benefit. Backed its FY26 combined GAAP R&D, AIPR&D and SG&A expenses between USD 6.3-6.45bln, and adj. expenses between USD 5.65-5.75bln; its outlook excludes the pending Crinetics acquisition, which remains expected to close in Q3.
Danaher (DHR) - Danaher appointed Julie Sawyer Montgomery as President and CEO, effective 1st October. She will also join the board. Rainer Blair will retire and remain a senior adviser until 31st March 2027.
Dr. Reddy’s (RDY), Fresenius (FSNUY) - FDA approved a rituximab biosimilar. Fresenius Kabi holds exclusive US commercialisation rights under an agreement with Dr. Reddy’s, which developed, manufactured and submitted the product. The approval expands Fresenius Kabi’s US biosimilars portfolio in oncology and immunology.