Trending Market News

China's exports grew 23% year-over-year in July 2026, exceeding analyst expectations of 22.2%, driven by global demand for high-tech components. Import growth slowed to 27.5%, slightly below forecasts, while export growth decelerated from June's 27% surge.

• July export growth of 23% topped analyst estimates but slowed from June's 27% pace, which was the fastest rate in recent periods
• Imports rose 27.5% year-over-year, marginally missing the 27.9% forecast and representing the quickest import growth in five years
• High-tech component demand from global markets helped absorb China's export output despite the month-over-month deceleration

Brazilian state-run oil company Petrobras reported a 96.8% year-over-year increase in second-quarter net profit, reaching 52.4 billion reais ($10.25 billion). The results exceeded analyst expectations of 44.7 billion reais, demonstrating strong financial performance for the April-June period.

• Net profit nearly doubled to 52.4 billion reais ($10.25 billion) in Q2, up 96.8% from the same quarter last year
• Results beat analyst consensus by approximately 17%, surpassing the LSEG poll estimate of 44.7 billion reais
• The strong performance by Brazil's state-controlled oil giant signals robust operational results during the April-June quarter

Atlassian exceeded Wall Street's fourth-quarter revenue expectations, reporting $1.77 billion versus the $1.66 billion estimate, driven by strong demand for its cloud-based collaboration tools like Jira and Rovo. The company's growth reflects increased enterprise adoption of AI-enabled automation and machine learning capabilities in workplace software.

• Q4 revenue reached $1.77 billion, beating analyst estimates of $1.66 billion for the quarter ended June 30
• First-quarter revenue forecast of $1.71-$1.72 billion exceeds analyst expectations of $1.66 billion, though full-year growth outlook was reduced to 13% from previous 24% projection
• The company laid off 10% of its workforce (approximately 1,600 employees) in March as part of a strategic shift toward AI development and enterprise sales

Microchip Technology forecast second-quarter revenue and profit above Wall Street estimates, driven by strengthening demand for its chips used in AI data centers, industrial, automotive, and aerospace sectors. The company is benefiting from cyclical recovery in key end-markets and surging AI-related demand, along with robust aerospace and defense spending fueled by geopolitical tensions.

• Second-quarter revenue forecast of $1.59 billion to $1.62 billion exceeds analyst estimates of $1.55 billion
• First-quarter revenue reached $1.49 billion with adjusted profit of $0.76 per share, both topping analyst expectations
• Industry peer Onsemi similarly forecast strong third-quarter revenue, indicating broader sector strength in power management chips for AI data centers

Airbnb shares surged 12% following the company's strong earnings report that exceeded expectations and positive guidance for Q3. The vacation rental platform demonstrated robust financial performance, boosting investor confidence in its growth trajectory.

• Stock price jumped 12% in response to better-than-expected earnings results
• Company issued strong guidance for Q3, signaling continued business momentum
• Performance indicates sustained demand in the short-term rental and travel accommodation market

Lyft beat Q2 revenue estimates with $1.84 billion (up 16%) and forecast Q3 gross bookings slightly above expectations, driven by higher-value rides, international expansion, and partnerships. Record gross bookings of $5.50 billion (up 23%) were boosted by the FIFA World Cup held in the U.S., Canada, and Mexico. The company is focusing on premium services, airport trips, and integrating its FreeNow acquisition in Europe.

• Q2 revenue reached $1.84 billion, beating analyst estimates of $1.81 billion, with adjusted core profit jumping 37% to $177.2 million
• Q3 gross bookings forecast at $5.5-$5.67 billion, slightly above Wall Street expectations of $5.57 billion
• Partnerships now account for about 30% of North American rides, while lower insurance costs in California enabled increased spending on rider incentives and loyalty programs

Advanced Micro Devices (AMD) has agreed to acquire Taalas, a Toronto-based startup that makes specialized inference chips hardwired for single AI models. The acquisition follows a similar move by Nvidia, which spent $20 billion on Groq assets seven months earlier, and reflects the growing importance of specialized AI chips beyond general-purpose GPUs for specific applications.

• Taalas' custom accelerators promise thousands of times faster output than traditional GPUs for specific models, though they sacrifice flexibility by being hardwired for single AI models
• The startup has raised $219 million since its 2023 founding and can reportedly transform any AI model into custom silicon within two months
• AMD has been aggressively acquiring companies to build integrated systems, spending $4.9 billion on ZT Systems in 2024 and $665 million on Silo AI, as it competes with Nvidia's rack-scale server solutions

Ransom-seeking hackers targeted dozens of major U.S. financial institutions over the past month using phone-based social engineering attacks, according to Google and data reviewed by Reuters. The hackers built 72 malicious websites aimed at stealing passwords from employees at firms including Blackstone, Apollo, KKR, Bridgewater, and CME Group. While some companies reportedly paid ransoms, Reuters could not confirm which hacks were successful.

• Hackers used low-tech phone calls pretending to be IT help desk staff, tricking employees into entering passwords on fake 'passkeyhelpdesk' websites while harvesting authentication codes live over the phone
• Google reported the hacking groups (operating as Redact, Pink, Falcon, and Helix) recently shifted focus to private equity firms, law firms, and financial ratings agencies based on financial calculations about which targets would pay ransoms
• Security experts note that despite sophisticated AI-driven security programs, basic social engineering tactics exploiting the 'human element' remain among the most effective hacking methods

President Trump won a temporary court order blocking the BBC from accessing financial records of his business trust, pausing a Thursday deadline that would have required disclosure of tax returns and ownership records for roughly 400 entities. The records were requested as part of Trump's $10 billion defamation lawsuit against the BBC over a 2024 documentary about January 6th. The stay provides only a temporary reprieve while the court determines whether the BBC is entitled to the documents to verify Trump's claims of financial harm.

• Trump's lawyers argued the BBC's demand was 'extraordinary' and disclosure would cause irreparable harm because the network could not 'un-see' confidential information if the order were later overturned
• Trump is attempting to amend his complaint to focus on personal reputational harm rather than business damages, which could significantly narrow the scope of financial discovery while maintaining his $10 billion claim
• The lawsuit stems from a BBC documentary that spliced together portions of Trump's January 6th speech in a way critics say implied he directly encouraged the Capitol attack; the BBC apologized but maintains the error was unintentional

SpaceX and Tesla announced a $16.8 billion initial investment to build Terafab, an advanced AI chip manufacturing complex in Grimes County, Texas. The facility aims to address the gap between current global chip supply and the companies' projected demand of over 1 terawatt of computing power in coming years.

• Combined computing demand from SpaceX and Tesla is forecast to exceed 1 terawatt, surpassing current global chip production output
• Terafab will handle all stages of chip production including design, with Tesla already breaking ground on a research fab precursor facility in April
• The $16.8 billion represents the initial investment, with the facility intended to serve the long-term chip requirements of both Musk-led companies

Roche launched two new PCR tests to detect cyclospora parasites as the U.S. faces one of its largest foodborne illness outbreaks in recent history. The outbreak, linked to iceberg lettuce from central Mexico, has reached record levels with approximately 6,358 cases reported across 15 states and at least 278 hospitalizations. The tests, developed with Roche subsidiary TIB MOLBIOL, allow laboratories to screen for multiple gastrointestinal parasites.

• The PCR tests can detect cyclospora and other gastrointestinal parasites, with options to screen for one, three, or six parasites across different testing platforms to help labs tailor costs
• U.S. health authorities expanded their investigation after detecting cases in six additional states, bringing the total to 15 states with 6,358 cases and 278 hospitalizations
• Cases have risen steadily across 47 states in recent months, with the outbreak tied to iceberg lettuce from central Mexico making it one of the largest cyclosporiasis outbreaks in U.S. recent history

Castlelake has withdrawn from the bidding war for easyJet, one of Europe's biggest airlines, following a higher competing bid from Apollo. The announcement on Thursday ends Castlelake's months-long takeover attempt of the budget carrier.

• Apollo submitted a higher bid than Castlelake, prompting the rival suitor to exit the process
• The bidding war for easyJet had been ongoing for several months before Castlelake's withdrawal
• easyJet remains a takeover target as one of Europe's largest airline operators

Alphabet is seeking to raise up to $25 billion through a U.S. bond offering with notes in as many as 10 parts, maturing from two to 40 years. The debt raise comes weeks after the company's increased 2026 capital spending outlook triggered a stock selloff, as Big Tech firms tap debt markets to fund expensive AI infrastructure investments.

• The bond offering follows Alphabet raising its annual capital expenditure forecast for the second time in 2025, sparking investor concerns about returns on AI investments
• Big Tech companies collectively are expected to spend heavily this year primarily on AI infrastructure build-out
• The debt raise represents the latest in a series of moves by tech giants using debt markets and equity sales to finance costly AI development

Ralph Lauren exceeded first-quarter estimates with revenue of $1.96 billion versus expected $1.87 billion, driven by strong demand from young and affluent shoppers. The high-end apparel company continues to report robust growth despite a broader slowdown in the global luxury sector.

• Quarterly revenue reached $1.96 billion, beating analyst estimates of $1.87 billion
• Growth fueled by affluent and young consumers purchasing high-priced items like linen shorts and lightweight outerwear
• Company outperforms despite wider slowdown affecting the global luxury goods sector

The CEOs of UniCredit and Commerzbank had a brief meeting after UniCredit secured 48% of the German bank in a takeover bid, but the discussion did not constitute the start of merger negotiations. The meeting focused on technical matters related to UniCredit taking control and consolidating Commerzbank, while UniCredit remains open to engaging with key stakeholders including the German government and workers' representatives.

• UniCredit has acquired a 48% stake in Commerzbank as part of a takeover bid
• The CEO meeting discussed only necessary accounting and procedural steps for taking control and consolidation, not deal terms
• UniCredit seeks to engage directly with German government, workers' representatives, and Commerzbank's Polish unit mBank

Warner Bros. Discovery reported a 10% increase in streaming revenue to over $3 million in Q2, driven by HBO Max growth in new markets and popular content. The strong results come as the company faces regulatory scrutiny over its proposed merger with Paramount, which would combine HBO Max and Paramount+ into a single streaming service. Overall company revenue fell 11% to $8.72 billion, missing Wall Street expectations.

• Streaming segment generated over $3 million in revenue with more than $500 million in adjusted EBITDA, boosted by shows like 'House of the Dragon' and 'The Pitt'
• The proposed Paramount merger, which would create a combined streaming service, faces antitrust challenges from state attorneys general with a trial scheduled for March
• Total Q2 revenue of $8.72 billion missed analyst expectations of $9.29 billion, falling 11% year-over-year despite streaming gains

Britain's government and competition watchdog approved Paramount's $110 billion acquisition of Warner Bros. Discovery after CEO David Ellison provided legally binding commitments on UK programming and editorial independence. The approvals clear a major regulatory hurdle, leaving legal challenges from U.S. states led by California as the primary remaining obstacle to completing the deal.

• Ellison committed to at least five years of guarantees on British programming levels and maintaining Channel 5 news editorial independence from CNN International and CBS News
• The Competition and Markets Authority ruled the merger would not substantially reduce competition in movie distribution, children's TV channels, or streaming services
• Channel 5 will continue as a public service broadcaster until its license expires in 2034, and the deal will not reduce the number of content commissioners in Britain

Peloton reported its first-ever annual net profit of $63.2 million in fiscal 2026 under CEO Peter Stern, marking a turnaround from a $118.9 million loss the prior year. Despite this profitability milestone achieved through cost controls and price increases, the company expects sales to decline nearly 4% in fiscal 2027 as it struggles with customer retention and hardware sales.

• Peloton posted net income of $63.2 million for fiscal 2026 (ended June 30), helped by price increases implemented in fall 2025, though annual sales still fell year-over-year
• The company forecasts fiscal 2027 revenue of $2.3-$2.4 billion, down nearly 4% and below analyst expectations of $2.42 billion, as it faces ongoing challenges with customer churn and new member acquisition
• Peloton is pursuing new revenue streams including commercial gym partnerships and hired Sarah Robb O'Hagan as chief content officer to improve member retention and expand its connected wellness strategy

Gold prices rose to their highest level since late June, reaching $4,295 per ounce, driven by weaker-than-expected U.S. employment data and easing Middle East tensions around the Strait of Hormuz. The rally marks the fourth consecutive winning session for the precious metal, though it remains over 20% below its January 2026 peak of $5,589 per ounce.

• Weak ADP jobs report reduces likelihood of a Fed rate hike in September, benefiting non-yielding gold as lower rates make the metal more attractive
• Joint U.S.-Japan currency intervention weakened the dollar to 6-week lows around 99.78, with gold trading inversely to the greenback during the ongoing conflict
• Iran indicated a deal with Oman to reopen the Strait of Hormuz is close, easing geopolitical tensions and supporting risk assets including gold

Restaurant Brands International exceeded Wall Street's quarterly earnings expectations, driven by strong performance at Burger King. The burger chain's U.S. same-store sales surged 8.5%, marking a successful turnaround, while Popeyes Louisiana Kitchen underperformed with declining sales.

• Burger King reported 8.5% U.S. same-store sales growth and 5.4% international growth, significantly outpacing McDonald's 0.8% U.S. growth in the same period
• Restaurant Brands earned $1.07 per share (excluding special items) on $2.52 billion revenue, meeting expectations with net revenue up 4.5%
• Popeyes was the weakest brand with U.S. same-store sales down 5.2%, while Tim Hortons' Canadian same-store sales remained flat