Trending Market News

Blackstone, the world's largest alternative asset manager, reported increased second-quarter profit driven by assets under management reaching $1.35 trillion and significant gains from AI-related investments. Nine of the firm's top 10 best-performing holdings are tied to artificial intelligence, including stakes in Anthropic and data center businesses.

• Blackstone monetized $31.8 billion in assets during the quarter through deals including selling stakes in three data centers to Digital Realty and a majority holding in Sabre Industries to TPG
• The firm is participating in a $35 billion financing deal with Apollo for custom chips to be used by AI company Anthropic, deepening its commitment to the 'AI megatrend'
• Retail private credit fund BCRED raised only $1 billion in Q2, down from $1.9 billion in Q1 and $3.7 billion in the same period of 2025, as wealthy individuals withdrew money amid AI disruption concerns

Lockheed Martin raised its 2026 sales and profit outlook as the Pentagon replenishes weapons stockpiles depleted by the U.S.-Israeli war on Iran and the Russia-Ukraine conflict. The defense contractor's missiles and fire control revenue jumped nearly 20% to $4.1 billion in Q2, driven by increased production of PAC-3, Precision Strike, and THAAD missiles. Total backlog grew 38.3% to $230.4 billion, reflecting surging demand for defense systems.

• Revenue guidance raised to $79.75-81.75 billion for 2026, up from prior forecast of $77.5-80 billion, with missiles segment leading growth at nearly 20% increase
• Company signed $35 billion contract in June to quadruple THAAD missile interceptor output; U.S. has expended over 50,000 munitions since 2022 conflicts began
• F-35 fighter jet sales contributed to 9% aeronautics segment growth, with the program representing over $2 trillion in lifetime Pentagon costs

Thermo Fisher Scientific exceeded Wall Street's second-quarter profit and revenue estimates on July 23, driven by improved customer demand across all business segments. The life sciences tools market is recovering as biotech and pharmaceutical companies increase spending on research and manufacturing after a prolonged post-pandemic slowdown.

• Quarterly revenue grew 10% to $11.99 billion, surpassing analyst estimates of $11.70 billion
• Laboratory products and biopharma services segment revenue rose nearly 12% to $6.69 billion, while life-sciences solutions segment increased about 13% to $2.82 billion
• Adjusted earnings reached $6.03 per share, reflecting strengthening customer activity as the biotech and pharmaceutical sectors ramp up research and manufacturing investments

QatarEnergy has extended force majeure on LNG deliveries to Asian buyers and is leasing tankers through mid-October, signaling prolonged export disruptions due to the closure of the Strait of Hormuz from the Iran war. Qatar accounts for about one-fifth of global LNG trade, and the extended outage threatens to tighten supplies and raise prices ahead of winter demand in the northern hemisphere.

• Force majeure notices to South Korean and Indian buyers, originally set to expire in August and early September, have been extended until mid-September with expectations of further extensions possibly until October
• QatarEnergy has sub-chartered at least nine LNG carriers from its fleet of nearly 70 vessels to third parties including Chevron, BP, and Cheniere on 30-90 day spot deals despite falling freight rates
• The company has shut liquefaction trains and suspended exports due to Iranian actions in the Strait of Hormuz, with the prolonged disruption threatening global LNG supplies during peak winter demand season

Molina Healthcare's stock fell 9% in premarket trading on Thursday despite beating second-quarter earnings estimates, as investors focused on concerns about its Obamacare and Medicaid businesses. The company faces challenges from declining enrollment in Marketplace plans due to expired COVID-19 subsidies and increased Medicaid attrition from stricter eligibility requirements and more frequent eligibility checks.

• Americans are dropping Obamacare Marketplace plans as many struggle with payments after extra COVID-19 pandemic subsidies ended
• Medicaid business faces headwinds from tight state budgets, new work requirements, and twice-yearly eligibility checks that could accelerate member drop-off rates in 2026-2027
• Molina raised annual earnings guidance to at least $5.25 per share, but the modest $0.25 increase fell short of analyst expectations for a $0.50 increase based on first-half outperformance

Capital One executive Brian Johnson is set to appear before the Senate Banking Committee on Thursday for his nomination to lead the Consumer Financial Protection Bureau (CFPB). Johnson, who previously served as a top Republican CFPB official during Trump's first term, is the third nominee for the position since Trump returned to office, with the two prior nominees withdrawn. His confirmation could mark a turning point after acting Director Russell Vought attempted to halt agency activities and fire most staff.

• Johnson has declared net assets between $336,000 and $2.7 million and received roughly $740,000 in salary and bonus from Capital One, with Capital One waiving repayment requirements on bonuses
• He will recuse himself from Capital One-related matters for two years and has professional ties to multiple CFPB-regulated companies including major banks operating Zelle
• Under acting Director Vought, the CFPB has dropped multiple enforcement actions and attempted to fire most staff, calling the agency 'woke,' though federal courts have blocked these efforts

Comcast's Peacock streaming service reported its first-ever quarterly profit of $189 million pre-tax on Thursday, driven by viewership from the soccer World Cup and reality show 'Love Island USA'. The milestone marks a turnaround for the service launched in 2020, which had invested billions to compete against Netflix, Disney+, and Amazon Prime Video.

• Peacock added 2 million paid subscribers during the quarter, contributing to the $189 million pre-tax profit after years of losses
• Comcast's studio revenue grew 25% to $3 billion, boosted by films including 'Obsession' and 'The Super Mario Galaxy Movie'
• Comcast's broadband business lost 167,000 customers in Q2, while theme parks unit EBITDA fell 5.1% due to geopolitical tensions affecting Asian attendance

A Manhattan federal judge will hear arguments on whether to uphold Justice Department subpoenas compelling New York Times journalists to reveal sources who reported on security concerns about a Qatari-donated Air Force One plane used by President Trump. The subpoenas, issued by U.S. Attorney Jay Clayton as part of a criminal leak investigation, have drawn criticism as part of a broader pattern of the Trump administration pressuring journalists to divulge confidential sources.

• Manhattan U.S. Attorney Jay Clayton issued subpoenas on July 10 after NYT reports cited anonymous sources regarding the lack of antimissile and defensive features on the Qatar-donated replacement for Air Force One
• The Times argues the subpoenas violate First Amendment press protections and internal DOJ policies requiring top-level approval before compelling journalist testimony, calling them harassment and intimidation
• Prosecutors claim the coverage posed 'substantial national security concern' about classified information leaks while the president was flying amid hostilities with Iran, and assert the First Amendment does not shield reporters in criminal investigations

The European Commission fined Google €890 million ($1 billion) on Thursday for violating EU rules designed to limit Big Tech power, marking the first major penalty under landmark legislation. Despite the fine, EU regulators praised Google's compliance efforts, suggesting the company may avoid additional penalties. The action demonstrates Europe's commitment to curbing Big Tech dominance despite U.S. criticism and tariff threats.

• Google was fined €890 million ($1 billion) for flouting EU regulations targeting Big Tech companies
• EU regulators indicated Google is unlikely to face fresh fines due to 'good progress' in ongoing compliance efforts
• The enforcement action comes amid tensions with the U.S., including criticism and retaliatory tariff threats over European tech regulation

Former Barclays CEO Jes Staley will testify before the U.S. House Committee on Oversight and Government Reform regarding his ties to convicted sex offender Jeffrey Epstein. Staley resigned from Barclays in 2021 after disputes with UK regulators over how he characterized his relationship with Epstein, and he lost an appeal against a regulatory ban in June 2025.

• The closed-door hearing is part of a congressional investigation into Epstein's connections with political and business elites, including other high-profile figures already interviewed by the committee
• UK regulators cited over 1,000 emails between Staley and Epstein as evidence that Staley misled them about the nature of their relationship
• Staley previously worked at JPMorgan Chase where Epstein was a client; JPMorgan settled lawsuits related to allegedly ignoring Epstein's sex trafficking activities

Cryptocurrency exchange BitMEX announced it will shut down operations on September 23, 2025, as part of a strategic review by owner HDR Global Trading. The closure affects over 2 million traders and comes amid struggling crypto prices, with Bitcoin down nearly 50% from its October 2024 all-time high of $126,223.

• BitMEX urged users to close positions and withdraw funds before the September 23 closure, stating that user assets remain safe and under their control
• The exchange's co-founders pleaded guilty in 2022 to Bank Secrecy Act violations for failing to implement anti-money laundering programs between 2015-2020, though they were pardoned by President Trump
• Bitcoin currently trades at $65,676, down nearly 50% from its peak, as crypto markets struggle with volatility, persistent ETF outflows, and slow progress on U.S. crypto legislation

RTX raised its 2026 sales forecast to $95-96 billion (from $92.5-93.5 billion) and increased profit guidance, driven by strong demand for aircraft maintenance services and military systems. The company's backlog grew 22% year-over-year to $289 billion as airlines keep older jets flying longer due to new aircraft shortages, while governments replenish weapons stockpiles depleted by global conflicts.

• RTX's backlog reached $289 billion, including $170 billion in commercial aerospace and $119 billion in defense orders, up 22% from the prior year
• Pratt & Whitney sales rose 16% to $8.89 billion and Raytheon defense sales increased 18% to $8.27 billion, boosted by demand for Patriot, Standard, and AMRAAM missiles
• Second-quarter adjusted profit came in at $1.89 per share, with full-year profit guidance raised to $7.10-$7.25 per share amid President Trump's proposed record $1.5 trillion military budget for fiscal 2027

Geely Auto will produce two electric SUVs at Ford's underutilized Valencia, Spain factory starting in 2028 through a joint venture that is 66% Ford-owned and 33% Geely-owned. The partnership helps Geely establish its first European production facility ahead of EU 'Made in Europe' local-content rules, while allowing Ford to monetize excess capacity at a plant currently operating at just 26% utilization.

• Ford's Valencia plant has capacity for 500,000 vehicles annually but operated at only 26% in 2025, down from Ford being Europe's No. 4 automaker a decade ago to eighth place with sales falling from over 1 million to 426,000 cars
• Geely will build the EX5 SUV and a second vehicle in development, marking a race among Chinese automakers (including BYD, Chery, and Xpeng) to secure European factory space before new EU local-content mandates take effect
• The companies will jointly develop a crossover SUV with multiple powertrains (fully electric, plug-in hybrid, and extended-range EV) for 2028 production, leveraging their relationship dating back to Geely's 2010 purchase of Volvo from Ford

Oil production in Kazakhstan has declined significantly following the suspension of loadings at the CPC Black Sea terminal after drone attacks on oil tankers. The Chevron-led Tengiz field, Kazakhstan's largest oilfield, saw output drop by more than half to around 406,000 barrels per day. The disruption affects the CPC pipeline, which handles over 80% of Kazakhstan's oil exports and accounts for nearly 2% of global oil supply.

• Production at the Tengiz field fell from 925,000 bpd in July to approximately 406,000 bpd on Wednesday, while overall Kazakhstan output dropped from 2.07 million bpd to 1.63 million bpd
• The CPC terminal suspended loadings on Monday after drone attacks, with Russia accusing Ukraine of targeting tankers to 'destabilize global oil markets'
• The disruption adds to global oil supply concerns as Middle East conflicts have already affected exports from Saudi Arabia and other Gulf producers

Yemen's Houthi militants claimed drone and missile attacks on two Saudi Arabian oil tankers in the Red Sea, marking the first strikes since announcing a naval blockade against Saudi Arabia. The attacks coincide with escalating U.S.-Iran tensions, as American forces completed their 12th consecutive night of strikes against Iranian military targets. The incident threatens to open a new front in the widening Middle East conflict.

• The Houthis targeted tankers named Encelia and Layla; Saudi authorities confirmed the Encelia was struck, causing a fire at the bow with no casualties reported
• U.S. Central Command completed another round of strikes against Iranian military sites, targeting maritime capabilities, missile and drone storage, and air defense systems
• Oil prices rose over 2% on the news, with Brent crude reaching $96.08 per barrel as President Trump threatened to destroy Iranian bridges or power plants for each attack in the Strait of Hormuz

UniCredit, Italy's second-largest bank, reported first-half earnings that exceeded analyst expectations and raised its 2026 income outlook. The bank also announced that its investment in Commerzbank is expected to deliver a 15% return, surpassing the return from a planned €4.75 billion buyback.

• Net profit for April-June reached €2.9 billion, beating the €2.8 billion analyst consensus
• UniCredit now expects 2026 income 'well above' €11 billion, upgraded from previous guidance of 'in line or above' that figure
• The expected 15% return on its Commerzbank investment exceeds returns from the planned €4.75 billion ($5.43 billion) buyback program

Hyundai Motor reported a 21% decline in second-quarter operating profit to 2.9 trillion won ($1.98 billion), missing analyst estimates due to weaker vehicle sales, production disruptions, and higher raw material costs. Despite the disappointing results, the company maintained its full-year operating margin guidance of 6.3%-7.3%, expecting recovery in the second half through increased production and new model launches.

• Higher raw material costs driven by Middle East conflict and inflation added approximately 400 billion won in expenses during Q2
• South Korean domestic sales plunged 16% amid intensifying competition from Tesla (expanding Full Self Driving software) and Chinese rival BYD, with imported vehicles reaching 25% market share
• Hyundai is investing heavily in robotics and AI, planning to deploy Boston Dynamics' Atlas humanoid robots at its Georgia plant starting 2028 as it pivots beyond traditional manufacturing

Nestle reported second-quarter organic sales growth of 3.7%, slightly beating analyst expectations of 3.6%, and announced a 50-50 joint venture with Platinum Equity for its waters and premium beverages business. The deal is expected to raise approximately 3 billion euros ($3.43 billion) for the world's largest packaged food company, which also raised its full-year organic sales growth outlook to 3-4% from 'around 3%'.

• The joint venture, named Peranel, will include over 30 brands sold in 120 countries, such as S.Pellegrino, Perrier, Acqua Panna, and Nestle Pure Life
• Nestle will receive roughly 3 billion euros from the transaction while retaining 50% ownership in the new waters entity
• The company upgraded its full-year organic sales growth forecast to 3-4%, up from its previous target of around 3%

Tesla CEO Elon Musk indicated a potential merger with SpaceX remains possible, citing growing overlap between the companies including joint development of AI chip facility Terafab. While some analysts see odds of a combination as high as 90%, significant hurdles include regulatory approvals, particularly in China, and governance complications from Musk's differing ownership stakes in each company.

• Tesla and SpaceX are already deeply integrated operationally, with Tesla supplying batteries and manufacturing technology while jointly developing Terafab, a semiconductor facility for AI chip production
• Deepwater Asset Management increased its estimated odds of a merger to 90% from 80% following Musk's comments, with Stifel analysts calling a combination 'inevitable'
• Major obstacles include regulatory approval challenges in China due to SpaceX's U.S. government ties and governance issues stemming from Musk controlling a larger voting stake in SpaceX than in publicly-traded Tesla

Nvidia donated a supercomputer equipped with its latest GB300 'Grace Blackwell' chips to the Naval Postgraduate School Foundation, marking the first direct use of Nvidia's most advanced AI servers by the U.S. military. The system, installed at the NPS campus in Monterey, California, will support education and research in AI applications for warfare and defense.

• The donation features Nvidia's GB300 'Grace Blackwell' servers, the company's most advanced AI computers, though the specific system size was not disclosed
• Both the U.S. and China are racing to integrate AI into military operations for applications ranging from targeting lists to complex battlefield problem-solving
• The Naval Postgraduate School will use the system to train military leaders and explore real-world operational challenges, with officials emphasizing the need to modernize both technology and education