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Stellantis is recalling approximately 1.5 million Ram 1500 pickup trucks worldwide due to improperly attached seat belt buckle anchors in the second row. The recall affects 2019-2026 model year vehicles and could increase injury risk to occupants, with one potentially related injury reported.

• The recall covers 1.27 million vehicles in the United States, 156,000 in Canada, 15,000 in Mexico, and about 75,000 outside North America
• The defect involves second-row center or driver side seat belt buckle anchors that may not be properly attached to the vehicle body structure
• Stellantis is aware of one potentially related injury linked to the seat belt issue

Colgate-Palmolive maintained its annual sales forecast despite posting quarterly results that showed weakening demand in North America, where organic sales fell 3% due to lower-income consumers struggling with high food and fuel prices. The company's shares declined following the announcement as it warned that new tariffs under the Trump administration would create additional headwinds.

• North America organic sales dropped 3% in the quarter with volumes falling 3.9%, reflecting slower category growth and market challenges among price-sensitive consumers
• The company reaffirmed 2% to 6% annual net sales growth expectations and raised its 2026 adjusted earnings forecast to mid-single-digit growth from prior low-to-mid-single-digit projections
• Colgate warned that new 10% and 12.5% tariffs imposed by the Trump administration are expected to more than offset benefits from tariff refunds received in the second quarter

Novo Nordisk shares plunged as much as 10% after the company announced that a late-stage clinical trial for its heart drug failed to reduce major cardiovascular events compared to placebo. The trial failure represents a significant setback for the Danish drugmaker's cardiovascular drug development program.

• Shares fell approximately 9-10% following the announcement of the failed trial
• The late-stage trial tested the drug's ability to reduce major cardiovascular events but showed no significant improvement over placebo
• This represents a setback in Novo Nordisk's efforts to expand beyond its core diabetes and obesity drug portfolio

ExxonMobil reported second-quarter adjusted earnings of $14.7 billion, its highest quarterly profit in four years, but missed Wall Street estimates despite a 67% increase from the prior quarter. The strong results were driven by higher oil prices and improved refining margins amid ongoing U.S.-Israeli tensions, though production declined to 4.5 million barrels of oil equivalent per day. Middle East disruptions, particularly in Qatar, offset record production gains in the Permian Basin.

• About 450,000 barrels per day of LNG production from Qatar remains substantially shut-in due to Iranian attacks, with an additional 150,000 bpd offline in the UAE
• Permian Basin production reached a record high of more than 1.8 million bpd, while a fifth platform in Guyana will add 250,000 bpd capacity in Q4
• The company returned $9.4 billion to shareholders through $4.3 billion in dividends and $5.1 billion in share repurchases, while reducing net debt by $7 billion

Chevron reported its highest quarterly profit in six years with adjusted earnings of $12 billion ($6.06 per share), surpassing analyst estimates. The strong results were driven by elevated oil prices and limited production disruptions due to U.S.-Israeli conflict in the Middle East, along with record refining margins. The company achieved $1.5 billion in synergies from its Hess acquisition, six months ahead of schedule.

• Upstream earnings jumped 200% year-over-year to $8.2 billion as Brent crude prices rose 23% quarter-over-quarter, while production reached 4 million boepd with U.S. output hitting a record 2.08 million boepd
• Downstream earnings hit a decade-high of $4.9 billion driven by record U.S. refinery throughput and refining margins, with limited Middle East exposure allowing Chevron to benefit from higher prices without major output disruptions
• The company maintained its dividend and $10-17.5 billion annual buyback range despite record profits, with CFO emphasizing the cyclical nature of the energy business, while Venezuela production is expected to grow 15% over the next 18-24 months

Sun Pharmaceutical Industries reported a 27% increase in quarterly profit to 28.95 billion rupees ($303.54 million) for the quarter ended June 30, driven by strong demand for high-margin specialty medicines. The Indian drugmaker is expanding its specialty portfolio to offset pressures in its U.S. business, with overall revenue rising 10.5% to 153 billion rupees.

• Specialty medicines segment grew 12.8% to $351 million, accounting for 21.9% of total revenue, with 16% growth in India while U.S. sales remained flat
• The company is pursuing aggressive expansion through acquisitions, including a $11.75 billion bid for Organon & Co earlier this year, one of the largest overseas acquisitions by an Indian pharma company
• Specialty medicines focus includes high-margin treatments for skin disease, cancer, and obesity to compensate for challenges in the U.S. market

German sportswear maker Puma reported second-quarter revenue of 1.69 billion euros, down from 1.94 billion euros year-over-year, but slightly beating analyst expectations of 1.67 billion euros. The currency-adjusted sales decline was narrower than anticipated despite weak consumer demand in key markets.

• Q2 revenue totaled 1.69 billion euros ($1.94 billion), representing a decline from the prior year's 1.94 billion euros
• Results exceeded the analyst consensus estimate of 1.67 billion euros despite challenging market conditions
• The company faced headwinds from weak consumer demand in key regional markets

Shell has agreed to sell its subsidiary BG Cyprus to MOL Group for up to $720 million. The deal includes milestone-linked contingent payments, meaning the final price depends on achieving certain targets. This transaction is part of Shell's ongoing portfolio optimization efforts.

• The buyer is MOL Group, a major Central European oil and gas company
• The $720 million purchase price includes contingent payments tied to specific milestones
• The sale represents Shell's continued divestment strategy following its acquisition of BG Group

Alimentation Couche-Tard announced on Friday it will acquire Polish retailer Zabka for approximately 32.62 billion zlotys ($8.72 billion). This represents a significant expansion move by the Canadian convenience store operator into the Polish retail market.

• The acquisition is valued at $8.72 billion (32.62 billion zlotys) at the current exchange rate of 3.7407 zlotys per dollar
• Couche-Tard, a major convenience store chain operator, is acquiring Zabka, a leading Polish retail chain
• The deal marks one of the larger cross-border retail acquisitions in the European market this year

Sony reported a 40% increase in first-quarter operating profit to 476.5 billion yen ($2.97 billion), significantly beating analyst expectations of 361 billion yen. The strong performance was driven by its gaming and image sensors businesses, though concerns remain about AI's impact and rising memory prices affecting margins.

• Q1 operating profit of 476.5 billion yen exceeded the average analyst estimate of 361 billion yen by approximately 32%
• Sony expects to benefit from the November 19 launch of 'Grand Theft Auto VI', with analysts forecasting 30-35 million units sold by year-end
• The company faces headwinds from high memory prices, which it has secured supply for this fiscal year but expects to remain elevated next year

Oil prices dropped over $1 on Friday but remained on track for a roughly 20% monthly gain, as increased supply flows through key maritime chokepoints offset ongoing tensions from the U.S.-Israel war on Iran that began February 28. The Strait of Hormuz, carrying about a fifth of global oil and gas shipments, has been largely blockaded since the conflict started.

• Brent crude fell 1.2% to $88/barrel and WTI dropped 1.8% to $82.09/barrel, but both benchmarks were set for approximately 20% monthly gains
• Saudi Arabia is forming a 14-nation maritime defense coalition for the Bab El-Mandeb Strait, Red Sea, and Gulf of Aden after Iran-aligned Houthis declared a naval blockade on Saudi Arabia
• Tanker traffic continues through affected straits despite elevated security risks, with higher freight costs and insurance premiums embedding a significant geopolitical risk premium in oil prices

China's manufacturing purchasing managers' index fell to 49.2 in July from 50.3 in June, unexpectedly contracting and ending a four-month expansion streak. The decline reflects weakening export momentum, particularly to the U.S., and comes as China's Q2 GDP growth of 4.3% missed the lower end of its annual target of 4.5-5%.

• The July PMI reading of 49.2 missed economists' forecast of 50.0 and marked the weakest level since February, dropping below the 50 threshold that separates expansion from contraction
• U.S.-bound shipments fell for the first time in several months after businesses had frontloaded orders in June (which saw 27% export growth, the fastest in nearly five years) ahead of expected American tariff increases
• Retail sales and employment showed sharp deterioration, with job growth declining across all sectors and travel and restaurant sectors experiencing notable year-over-year downturns

Boeing has submitted a contract offer to the union representing approximately 17,000 engineers and technical workers in its commercial airplane division, with the SPEEA negotiating team endorsing the proposal. The current contract expires on October 6, and a potential strike could further delay certification work on the 737 MAX 10 and 777-9 aircraft, which are already years behind schedule.

• The SPEEA negotiating team endorsed the deal, stating it offers 'real and meaningful value' and improvements to work/life balance, with union officials set to review terms and make a recommendation to members next week
• A strike could significantly impact Boeing's certification campaigns for the 737 MAX 10 and 777-9, both already years behind schedule and requiring engineering-intensive work
• This marks Boeing's third major union negotiation in three years, with the previous two ending in extended strikes; a recent January 2024 SPEEA contract at Spirit AeroSystems included a $6,000 bonus, wage increases, and six additional days off annually

Australian miner Fortescue reported a 5% decline in fourth-quarter iron ore shipments to 52.7 million metric tons, down from 55.2 Mt a year earlier, due to weak performance at its Hematite operations. Despite the year-over-year decline, the world's fourth-largest iron ore miner slightly exceeded analyst expectations.

• Q4 shipments totaled 52.7 million metric tons, down 5% from 55.2 Mt in the same quarter last year
• Subdued performance at Hematite operations was cited as the primary cause of the shipment decline
• Actual shipments narrowly beat the Visible Alpha consensus estimate of 52.48 Mt

Amazon disclosed it received $600 million in tariff refunds in Q2 after the Supreme Court ruled many of Trump's levies illegal, and plans to return some funds to customers. The company had previously not disclosed whether it would seek refunds amid concerns about offending the Trump administration. Amazon will proactively refund customers in limited cases where it can trace specific tariff charges passed along to shoppers.

• Amazon's CFO said the company received a 'limited' refund amount because it prepositioned inventory ahead of tariffs and is not the importer of record for most items sold on its marketplace
• The company will proactively contact and refund affected customers only in limited circumstances where specific import charges can be traced, while using remaining refunds to invest in lower prices
• Amazon previously faced White House pressure after reportedly planning to display tariff surcharges on its website, with Trump personally calling Jeff Bezos to complain about the plan

China's U.S.-bound shipments declined in July 2025 for the first time in several months, according to a China Beige Book survey of 1,436 Chinese businesses. This follows a brief recovery in June when exports to the U.S. rose 14%, helping overall Chinese exports surge 27%. The decline signals weakening momentum in one of China's few economic growth drivers amid ongoing trade tensions.

• The last time China's U.S. exports fell was in March 2025, when they plunged over 26% year-over-year, consistent with double-digit declines since trade tensions escalated in April 2025
• Factory activity decelerated in July with manufacturing showing the worst employment performance, as all surveyed sectors saw job growth worsen from a year ago
• Retail sales fell both month-over-month and year-over-year in July, with travel and restaurants experiencing a 'sharp on-year downturn', prompting Chinese policymakers to emphasize expanding domestic demand

A U.S. appeals court ruled that Enbridge must relocate its Line 5 pipeline running under Bad River tribal land in Wisconsin after the company's rights-of-way expired in 2013, but extended the original three-year deadline and ordered damages to be recalculated. The court found Enbridge liable for trespass while balancing concerns about consumer impact and U.S.-Canadian treaty obligations. The 1953 pipeline carries 540,000 barrels of oil daily through the Great Lakes region.

• The 7th Circuit Court extended the relocation timeline beyond the original three-year deadline (which expired last month), citing concerns about consumer harm and potential violations of a 1977 U.S.-Canadian transit pipeline treaty
• Damages must be recalculated to avoid 'double-counting' of Enbridge's profits and deferred reroute expenses, with the court finding the district judge abused discretion in the original $5.15 million award
• The Line 5 pipeline has operated under tribal land since 1953 carrying up to 540,000 barrels per day, with Enbridge's rights-of-way over certain parcels expiring in 2013 before the tribe sued in 2019

Stryker, a U.S. medical device maker, exceeded Wall Street's second-quarter earnings estimates driven by strong demand for implants and devices used in spinal and orthopedic surgeries. The company reported total revenue of $6.6 billion, surpassing analyst expectations of $6.58 billion, and narrowed its full-year adjusted profit forecast to $14.95-$15.10 per share.

• Orthopedics segment sales rose 9.1% to $3.0 billion, beating analyst expectations of $2.72 billion
• Medical surgery and neurotechnology unit sales increased 9.7% to $3.6 billion but missed estimates of $3.72 billion
• Stryker competes with Zimmer Biomet and Johnson & Johnson in the orthopedics market for joint replacements and medical implants

Dexcom raised its full-year revenue forecast and exceeded second-quarter estimates on July 30, driven by strong demand for its continuous glucose monitors. The medical device maker reported Q2 revenue of $1.31 billion, up 13% year-over-year, as rising diabetes awareness and improved insurance coverage boost adoption of finger-prick-free monitoring technology.

• Second-quarter revenue reached $1.31 billion, beating analyst estimates of $1.29 billion, with adjusted profit of 70 cents per share
• Full-year revenue guidance increased to $5.18-$5.25 billion from prior range of $5.16-$5.25 billion, slightly above analyst consensus of $5.22 billion
• Competition is intensifying in the continuous glucose monitor market among leaders Dexcom, Medtronic, and Abbott Laboratories as demand grows

Live Nation Entertainment exceeded second-quarter revenue estimates, reporting $7.66 billion in revenue (up 9% year-over-year) driven by strong global demand for live concerts and events. The results demonstrate resilient consumer appetite for live music despite broader pressures on discretionary spending, with the company selling over 143 million tickets through mid-July.

• Second-quarter revenue of $7.66 billion beat analyst estimates of $7.56 billion, representing 9% year-over-year growth
• Concert revenue specifically rose 8.32% to $6.44 billion during the quarter
• Live Nation sold more than 143 million tickets through mid-July as touring activity remained strong for major global artists