Apple's Ensemble Act is Working Again

WSJ Markets - 9min

The tech giant’s iPhone dependence has shrunk, as the iPad, Mac, Wearables and Services all pick up growth.


Fintech Focus For July 28, 201

Benzinga - 20min

Quote To Start The Day: "Even if I knew that tomorrow the world would go to pieces, I would still plant my apple tree.”


Goldman Sachs Files An 'Innovate DeFi And Blockchain' ETF

Benzinga - 23min

Wall Street giant Goldman Sachs Group Inc (NYSE: GS) plans to launch a new investment product that will give investors exposure to the DeFi and blockchain industry.


Apple Profit Sets Record on Strong iPhone Sales

WSJ USBusiness - 34min

Sales of iPhones rose 50% from the year-earlier quarter to $39.6 billion, driving a profit of $21.7 billion.


ElectroCore Analyst: Nerve Stimulation Market Opportunity Is Large

Benzinga - 40min

A combination of a large total addressable market, regulatory clearance, strong partnerships and effective product has Ladenburg Thalmann analysts bullish on electroCore, Inc. (NASDAQ: ECOR).


Credit Suisse Expected to Publish Details of Archegos Failures

WSJ Markets - 46min

The report could come as soon as Thursday and is likely to focus on the bank’s risk management unit, human errors in judgment and unheeded risk in concentrated positions.


Bitcoin Threatens Macroeconomic Stability And Adopting It As National Currency Is A Step Too Far: IMF Report

Benzinga - 52min

What Happened: A recent report from the International Monetary Fund (IMF) states that cryptocurrencies pose more risks than benefits when it comes to adopting it as legal tender.


AusCann, Meridian Bioscience & General Cannabis Among Top Cannabis Stock Movers On July 27, 2021

Benzinga - 56min

GAINERS: Eastside Distilling (NASDAQ: EAST) shares closed up 9.43% at $4.06


World Athletics President Sebastian Coe Calls For Review Of Marijuana Status, Social Media Slams Megan Rapinoe's CDB Ads

Benzinga - 57min

Sebastian Coe, president of the international track body World Athletics, said Tuesday that he supports a review of marijuana’s status as a doping substance in light of the disqualification of sprinter Sha’Carri Richardson, which he called a loss to the competition.


Recap: Renasant Q2 Earnings

Benzinga - 1hr

Shares of Renasant (NASDAQ:RNST) were flat in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share rose 40.38% year over year to $0.73, which missed the estimate of $0.78.


Encore Wire: Q2 Earnings Insights

Benzinga - 1hr

Shares of Encore Wire (NASDAQ:WIRE) moved higher in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share rose 1370.00% over the past year to $8.82, which beat the estimate of $1.38.


Haverty Furniture Cos: Q2 Earnings Insights

Benzinga - 1hr

Shares of Haverty Furniture Cos (NYSE:HVT) rose in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share increased 332.69% over the past year to $1.21, which beat the estimate of $0.76.


VOX ANNOUNCES RECORD REVENUE IN Q2 2021 AND INCREASES 2021 REVENUE GUIDANCE BY +100%

Benzinga - 1hr

TORONTO, CANADA – July 27, 2021 – Vox Royalty Corp.


Michigan's Home Depot Stores Ban Hot Dog Vendors

Benzinga - 1hr

July might be National Hot Dog Month, but at Home Depot’s (NYSE: HD) stores in Michigan it has become Shut Down the Hot Dog Carts Month.


Boeing To Launch Starliner Capsule To Space, But These Options Traders See Dark Times Ahead

Benzinga - 1hr

Boeing Co (NYSE: BA) will become the latest company to launch a test flight into space when its CST-100 Starliner capsule blasts off to the International Space Station (ISS) on Friday.


Bitcoin, Ethereum, Dogecoin Rally Threatened As Amazon Denies Reports Of Crypto Foray

Benzinga - 1hr

The rally in major coins slowed down in pace Monday evening. The global cryptocurrency market was up 1.87% to $1.47 trillion.


Tesla Confirms Opening Supercharger Network To Other EVs: What's The Revenue Potential?

Benzinga - 1hr

After announcing that Tesla would open its Superchargers to non-Tesla owners, CEO Elon Musk has clarified how the process will work.


Recap: Encompass Health Q2 Earnings

Benzinga - 1hr

Shares of Encompass Health (NYSE:EHC) moved higher in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share were up 277.42% year over year to $1.17, which beat the estimate of $0.98.


Lysol. N95 Masks. UPS. For Some Pandemic Winners, the Boom Is Over.

WSJ USBusiness - 1hr

Some companies report growth is slowing, adding to challenges as they deal with rising costs and supply constraints.


Chinese Tech Stock Selloff Deepens

WSJ Markets - 2hr

A selloff in Chinese technology stocks accelerated as investors unnerved by Beijing’s widening crackdown on Internet companies and other industries sold down their holdings.


Nasdaq, Tech Stocks Lead Market Lower

WSJ Markets - 2hr

U.S. stocks slipped from records, breaking a five-session winning streak for all three major indexes.


Teladoc stock drops after telemedicine company reports wider quarterly loss

MarketWatch - 2hr

Teladoc Health Inc. shares fell more than 7% in the extended session Tuesday after the telemedicine company reported a wider-than-expected second-quarter loss and guided for a wider per-share loss for the year than analysts forecast. Teladoc said it lost $133.8 million, or 86 cents a share, in the second quarter, compared with a loss of $25.7 million, or 34 cents a share, in the year-ago period. Revenue rose to $503 million from $241 million a year ago. Analysts polled by FactSet had expected a loss of 53 cents a share on sales of $501 million in the quarter. The company said that its telehealth visits topped 3.5 million, 28% higher than the second quarter of 2020, in the first wave of the pandemic. Teladoc also guided for third-quarter revenue between $510 million and $520 million, and a net loss between 78 cents a share and 68 cents a share. For the full year, the company guided for revenue between $2 billion and $2.025 billion, alongside a per-share loss between $3.60 and $3.35. The analysts surveyed by FactSet expect a loss of $2.84 a share for the year. Teladoc shares ended the regular trading day up 0.8%.


Coffee Prices Jump to Six-Year High as Brazilian Frost Threatens Crop

WSJ Markets - 2hr

The cold snap is the second weather shock in recent months to strike farmers in Brazil, the world’s biggest coffee producer, threatening to drive up costs at cafes and breakfast tables around the world.


API data reportedly show weekly declines in U.S. crude and gasoline supplies

MarketWatch - 2hr

The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 4.7 million barrels for the week ended July 23, according to sources. The API report also reportedly showed inventory declines of 6.2 million barrels for gasoline and 1.9 million barrels for distillates. Crude stocks at the Cushing, Okla., storage hub, meanwhile, edged down by 126,000 barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA is expected to show crude inventories declined by 2.5 million barrels, according to a survey of analysts conducted by S&P Global Platts. The survey also calls for supply decreases of 1.3 million barrels for gasoline and 1.6 million barrels for distillates. September West Texas Intermediate crude was at $71.93 barrel in electronic trading, after settling Tuesday at $71.65 on the New York Mercantile Exchange.


Volatility Concerns Persist Despite Bullish Streak

WSJ Markets - 2hr

The benchmark S&P 500 hasn’t suffered a 5% pullback since October and has advanced 35% since the end of that month. A brief selloff at the beginning of last week suggests there is anxiety percolating in the market, though.


Starbucks Sales Outpace Pre-Pandemic Levels

WSJ USBusiness - 2hr

The coffee giant said it is swiftly recovering from the pandemic.


Nasdaq Composite books worst selling in 2 1/2 months ahead of results from tech giants Apple, Microsoft and Alphabet

MarketWatch - 3hr

U.S. stocks ended lower for the first time in six sessions Tuesday, and the Nasdaq Composite took the brunt of the selling, posting its worst daily decline since mid May ahead of earnings from technology giants Microsoft Corp. , Apple Inc. , and Google parent Alphabet Inc. . The Nasdaq fell 1.2% to around 14,660, marking its steepest daily drop since May 12; the S&P 500 index declined 0.5% at 4,401, while the Dow Jones Industrial Average finished off 0.2% at 35,059, all closing levels are on a preliminary basis. The declines on Tuesday come after all three stock benchmarks posted record closes on Monday to start a big week of earnings and an important update in policy from the Federal Reserve due on Wednesday. U.S. stocks have managed to grind higher amid questions about inflation and the spread of the delta variant of COVID-19 and some analysts view Tuesday's retreat as a momentary breather for a turbulent market that retains an overall bullish complexion. The slide in yield-sensitive technology and tech-related names came even as benchmark bond rates pulled back, with the 10-year Treasury note at around 1.24%. Markets were also unsettled by China's crackdown on technology companies domiciled in the region.


Biden says requiring all federal employees to be vaccinated 'under consideration'

MarketWatch - 3hr

President Joe Biden on Tuesday said he's weighing whether to have all federal employees vaccinated against COVID-19. Biden told reporters such a requirement is "under consideration," as he visited an intelligence facility in Virginia. Biden's statement followed a change in policy by the Centers for Disease Control and Prevention, which is now recommending vaccinated people resume wearing masks indoors in areas with high COVID transmission.


Israel Begins Vaccinating At-Risk Children Under 12

WSJ World - 3hr

The country has authorized the use of Pfizer’s Covid-19 vaccine for vulnerable children between five and 11 years old, as cases of the highly contagious Delta variant rise sharply.


Airlines Struggle With Fuel Shortages at Some Small Western U.S. Airports

WSJ USBusiness - 3hr

The region is seeing a travel boom, but supplying airports with jet fuel has become harder with a scarcity of truck drivers, limited space on pipelines and competing demand for fuel to fight wildfires.


China to Revise Population Law to Try to Reverse Declining Births

WSJ World - 4hr

Lawmakers plan to clear remaining legal barriers to encourage couples to have more children, as the country faces another year of fewer births.


Oil futures settle lower, with U.S. prices at lowest in nearly a week

MarketWatch - 4hr

U.S. oil futures settled lower on Tuesday as the spread of the coronavirus delta variant raised risks to the demand outlook for energy. "Oil prices appear to be treading water, currently caught between slowing growth concerns and tighter supply," said Michael Hewson, chief market analyst at CMC Markets UK. "The picture isn't being helped by reports the U.S. is tightening restrictions on some countries, while the U.K. is said to be looking at loosening them on the other side of the coin," he said. The Centers for Disease Control and Prevention was expected to change its policy later Tuesday on face masks in public settings for some parts of the U.S. as infections with the delta variant of the coronavirus spread, according to media reports. West Texas Intermediate crude for September delivery declined by 26 cents, or 0.4%, to settle at $71.65 a barrel on the New York Mercantile Exchange, the lowest front-month finish since July 21, FactSet data show.


White House sees 'positive direction' for bipartisan infrastructure deal, Psaki says

MarketWatch - 5hr

The Biden administration remains upbeat on achieving a bipartisan infrastructure deal, White House press secretary Jen Psaki said Tuesday. "We were quite encouraged by the conversations overnight and into this morning," she told reporters. "We see momentum is moving in a positive direction." Senate Majority Leader Chuck Schumer on Monday said lawmakers may stay in session through the weekend to finish a bill on infrastructure.


Gold prices end slightly higher, but remain below $1,800

MarketWatch - 5hr

Gold futures ended slightly higher on Tuesday, but prices remained below the key $1,800 mark for a second-straight session. The U.S. dollar traded with a "softer bias," with gold holding to a tight trading range, ahead of Wednesday's Federal Reserve announcement on monetary policy, said Chintan Karnani, director of research at Insignia Consultants. Gold may head even lower if the Fed indicates an early end to bond purchases in the fourth quarter, raises the economic outlook and maintains a transitory stance on inflation, he said. August gold rose 60 cents, or 0.03%, to settle at $1,799.80 an ounce.


Jeff Bezos Offers to Waive $2 Billion for NASA Contract

WSJ USBusiness - 6hr

The Amazon founder’s offer aims to help his space company, Blue Origin, secure a joint contract for the lunar-lander program that was awarded solely to Elon Musk’s SpaceX.


Covid-19 Deaths Rise Sharply in Indonesia

WSJ World - 6hr

The world’s fourth most-populous nation, where about 7% of people are fully vaccinated, reported more than 2,000 daily fatalities for the first time.


GE and Raytheon Aren't Yet Flying on All Engines

WSJ Markets - 6hr

Both conglomerates have reported a surge in airline shop visits in the second quarter, but their aerospace businesses still face many unknowns.


Saudi Arabia to Impose Covid-19 Vaccine Mandate

WSJ World - 6hr

People in Saudi Arabia will need to show proof of vaccination to enter public and private institutions beginning Sunday, as the kingdom looks to drive more people to get shots.


: Activision Blizzard stock drops as employees decry response to sexual harassment lawsuit

MarketWatch - 7hr

Activision Blizzard Inc. ATVI shares dropped Tuesday following reports that many employees disagree with the company’s response to a California lawsuit alleging sexual discrimination and harassment at the videogame publisher. Activision Blizzard shares fell more than 7% in Tuesday trading. Last week, the California Department of Fair Employment and Housing filed a civil suit against Activision Blizzard alleging that female employees were subject to discrimination over pay and promotions as well as subjected to sexual harassment. Following that, Activision released a statement that the suit contained  “distorted, and in many cases false descriptions of Blizzard’s past.”According to media reports, more than 2,000 current and former employees have signed a letter decrying the company’s response to the lawsuit. On Twitter, World of Warcraft Senior System Designer Jeff Hamilton said that “almost no work” is being done on the game as a result of the controversy. Activision Blizzard has yet to respond to MarketWatch’s request for comment on the petition.


China Appears to Be Building New Silos for Nuclear Missiles, Researchers Say

WSJ World - 7hr

The discovery from commercial satellite imagery follows another U.S. think-tank analysis appearing to identify a separate missile-silo field under construction.


Hong Kong Man Found Guilty in First Verdict Under China's National-Security Law

WSJ World - 7hr

The first person charged under a national-security law imposed by Beijing was found guilty of inciting secession and terrorism in a verdict that reaffirms new limits on speech in the city and could set a precedent for future trials under the law.


Intel to Move a Little Faster, Break Things

WSJ Markets - 8hr

The semiconductor giant, which committed to produce the world’s best chips within four years, seeks to catch up with rivals with an aggressive, and likely expensive, plan.


Intel to Move a Little Faster, Break Things

WSJ USBusiness - 8hr

The semiconductor giant, which committed to produce the world’s best chips within four years, seeks to catch up with rivals with an aggressive, and likely expensive, plan.


Walmart will pay for workers' college tuition and books, removing $1 per day fee

MarketWatch - 8hr

Walmart Inc. said Tuesday that it is eliminating the $1 per day fee for the college education program it had in place and will instead cover the entire cost of tuition and books for its workers. The move will impact 1.5 million part-time and full-time workers, the company said, and is part of a $1 billion investment in training and development over the next five years. Walmart is also adding areas of study to the degree and certificate options: business administration, supply chain and cybersecurity. And four partners have joined the Live Better U education program: Johnson & Wales University, the University of Arizona, the University of Denver and Pathstream. Walmart stock has slipped 1.2% for the year to date while the Dow Jones Industrial Average has gained 14.5% for the period.


U.S. Home-Price Growth Rose to Record in May

WSJ USBusiness - 8hr

The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas, rose 16.6%, the highest annual rate of price growth since the index began in 1987.


U.S. Durable-Goods Orders Advanced in June

WSJ USBusiness - 8hr

New orders for products meant to last at least three years increased 0.8% to a seasonally adjusted $257.6 billion in June as compared with May.


GE's Turnaround Rides a Pandemic Rebound

WSJ USBusiness - 9hr

The conglomerate raised its goal for cash flows and said its adjusted profit topped expectations, as it continues to recover from pandemic-induced shocks to the global economy.


Dow falls 200 points, index at risk of snapping 5-day win streak as stock-market investors ready for Apple, Microsoft results

MarketWatch - 9hr

U.S. stock benchmarks opened modestly lower Tuesday as investors awaited earnings reports from Apple , Microsoft and Google parent Alphabet at the conclusion of regular trading. Equity indexes have been lurching toward record highs but concerns about China's crackdown on technology names and the Federal Reserve's approach to rising inflation, as well as concerns about peak growth and earnings are causing some resistance for markets that have been trending higher of late. The Fed starts its two-day policy meeting on Tuesday. The Dow Jones Industrial Average [: DJIA] was down 0.6% at 34,920, the S&P 500 index was trading 0.5% lower at 4,400, while the Nasdaq Composite Index was down 0.4% at 14,781. All three benchmarks were on the verge of ending a daily win streak at five sessions, after posting record closes on Monday.


Is Tesla the Meme Stock of Yesteryear?

WSJ Markets - 9hr

Just as Elon Musk’s firm begins to look fundamentally more solid, investors have moved on to other speculative objects.


Ad-Tech Company AdTheorent Reaches $1 Billion SPAC Deal to Go Public

WSJ Markets - 9hr

The firm is joining others in the digital-advertising sector in raising money and going public.


Tesla, Apple, Alibaba, F5 Networks: What to Watch When the Stock Market Opens Today

WSJ Markets - 10hr

Investors are watching for results from Apple, Microsoft and Alphabet after the close; Chinese tech stocks took another hit.


Vaccination Rates Drive Global Economic Growth Prospects, IMF Says

WSJ USBusiness - 10hr

The global economic outlook is diverging based largely on how well countries are rolling out Covid-19 vaccinations, according to new forecasts by the International Monetary Fund.


Instagram Adds More Protections for Teenagers

WSJ USBusiness - 10hr

Facebook separately pledged to keep younger children off its main platform, even as it explores an alternative product for them.


What to Know About Robinhood's IPO

WSJ Markets - 10hr

The offering will be a test of whether individual investors want to stay on the sidelines or jump into this type of investing.


ThredUp shares slump after business update, new public offering and other announcements

MarketWatch - 10hr

ThredUp Inc. slumped 4.3% in Tuesday premarket trading after the resale company made a number of announcements throughout Monday, including a business update and the launch of a public offering. ThredUp said during after-hours Monday that it would launch a public offering of 6,424,369 shares of Class A stock, including 2 million shares that will be issued and sold by the company, and 4,424,369 shares from existing stockholders. The selling stockholders will give the underwriters 30 days to purchase up to 963,655 additional shares. Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are the lead bookrunners. ThredUp also gave a business update, expecting revenue between $59 million and $60 million, up from $47.3 million last year. The FactSet consensus is for $55.8 million. Net losses are expected to widen to between $14.6 million and $14.4 million from $6.7 million last year. Active buyers are expected to increase to between 1.32 million and 1.34 million from 1.24 million last year. ThredUp began trading on March 26. On Monday, the company also announced the acquisition of Remix Global AD, a European resale company, and a partnership with Fabletics. "Now just two quarters in as a public company, ThredUp is continuing to show investors that its underlying business is recovering faster than planned and with a compelling acquisition to come with Remix," wrote Wells Fargo in a note. Wells Fargo rates ThredUp stock overweight with a $32 price target. Analysts highlight three trends working in ThredUp's favor: sustainability, the shift to e-commerce and focus on value. ThredUp stock has soared 57% over the last three months, while the S&P 500 index is up 5.6%.


Lysol's Owner Is in Germ Limbo

WSJ Markets - 10hr

Consumers’ vigilance about hygiene is wearing off earlier than Reckitt expected—but not enough to boost its cold- and flu-relief brands yet.


Corning delivers revenue and earnings beats

MarketWatch - 10hr

Shares of Corning Inc. are up 0.6% in premarket trading Tuesday after the maker of optical technologies posted better-than-expected revenue and earnings for its second quarter. The company posted GAAP net income of $449 million, down from $599 million a year earlier. The company posted a GAAP loss per share of 42 cents and core earnings per share of 53 cents, with the difference between GAAP and core EPS reflecting a one-time accounting treatment stemming from a preferred-share transaction with Samsung Display Co. Ltd. that reduced Corning's fully diluted share count by 35 million. The FactSet consensus for the latest quarter called for 51 cents in EPS. Corning's GAAP loss per share for the year-prior quarter was 13 cents and its core EPS was 25 cents. The company posted GAAP net sales of $3.5 billion for the quarter, up from $2.6 billion a year earlier, while the FactSet consensus called for $3.4 billion. "We are growing faster than our underlying markets and achieved a revenue milestone of $3.5 billion, establishing a strong sales run rate," Chief Executive Wendell Weeks said in a release. The company expects core sales of $3.5 billion to $3.7 billion for the third quarter as well as core EPS of 54 cents to 59 cents. Corning shares have lost 7.8% over the past three months as the S&P 500 has risen 5.6%.


Paccar stock jumps after record profit and revenue beat expectations

MarketWatch - 10hr

Shares of Paccar Inc. jumped 1.3% in premarket trading Tuesday, after the truck maker reported second-quarter record profit and revenue that topped expectations, amid strong customer demand and freight tonnage, with beats in the company's parts and financial services segments offsetting a miss in truck sales. Net income more than tripled to $492.9 million, or $1.41 a share, from $147.7 million, or 43 cents a share, in the year-ago period. The FactSet consensus for earnings per share was $1.40. Revenue rose 91% to $5.84 billion, above the FactSet consensus of $5.57 billion. Truck sales grew 123.4% to $4.15 billion but missed the FactSet consensus of $4.50 billion, while parts revenue increased 47.1% to $1.21 billion to beat expectations of $1.16 billion and financial services revenue rose 26.6% to $456.3 million to top forecasts of $436.5 million. The company said truck markets have been "tempered" by the industry-wide undersupply of semiconductor chips. The stock has edged up 0.7% year to date through Monday, while the S&P 500 has gained 17.7%.


Commercial-Property Sales Volume Returns to Prepandemic Levels

WSJ USBusiness - 11hr

The recovery has been fueled by historically low interest rates and the belief of many investors that the worst of Covid-19 is over.


Work-From-Anywhere Perks Give Silicon Valley a New Edge in Talent War

WSJ USBusiness - 11hr

Startups in smaller markets feel pinch as coastal tech giants poach their employees; “a national competition” for every hire.


Bloomingdale's Joins Smaller-Store Trend With Bloomie's Launch

WSJ USBusiness - 11hr

The 22,000-square-foot store in a suburban shopping district in Fairfax, Va., will carry far fewer products than traditional Bloomingdale’s stores, but will update its selection multiple times a week.


Regeneron, AstraZeneca to develop obesity treatment

MarketWatch - 11hr

Shares of Regeneron Pharmaceuticals Inc. were down 0.1% in premarket trading on Tuesday after the company announced a deal with AstraZeneca to develop and commercialize obesity treatments that target a specific gene, GPR75. The companies will split development costs and profits if the drug is successful. Regeneron's stock is up 19.6% so far this year, while the S&P 500 has gained 17.7%.


ADM stock gains after big earnings, revenue beats

MarketWatch - 11hr

Shares of Archer-Daniels-Midland Co. are up 0.8% in premarket trading Tuesday after the company easily topped earnings and revenue expectations for the second quarter. The food-processing company reported net income of $712 million, or $1.26 a share, up from $469 million, or 84 cents a share, a year earlier. The company posted adjusted earnings per share of $1.33 a share, up from 85 cents a share a year earlier, whereas the FactSet consensus called for $1.03 a share. ADM's revenue for the quarter rose to $22.9 billion from $16.3 billion, whereas analysts tracked by FactSet were expecting $18.4 billion. "Given our great start to the year and our expectation of continued momentum in the second half, we are confident in delivering very strong full-year earnings, and we remain well-positioned for robust, sustained growth in the years to come," Chief Executive Juan Luciano said in a release. ADM shares have lost 5.5% over the past three months as the S&P 500 has risen 5.6%.


Chinese Property Titan Teeters as Investor Confidence Fades

WSJ Markets - 11hr

China Evergrande Group’s debt-fueled growth powered its ascent, before problems started to mount.


Sherwin-Williams earnings take a hit as do-it-yourself business returns to normal.

MarketWatch - 11hr

Sherwin-Williams Co. stock slipped 0.3% in Tuesday premarket trading after the paint company reported second-quarter earnings and sales that missed the Street. Net income totaled $648.6 million, or $2.42 per share, up from $595.5 million, or $2.16 per share, last year. Adjusted EPS of $2.65 missed the FactSet consensus of $2.67. Sales of $5.380 billion were up from $4.604 billion and also missed the FactSet consensus for $5.388 billion. Architectural paint demand in the Americas and industrial end markets offset the return-to-normal do-it-yourself market, according to a statement from Chief Executive John Morikis. The company implemented price hikes due to raw material inflation and supply chain constraints impacted parts of the business. For the third quarter, Sherwin-Williams expects net sales up in the mid-to-high single-digit percentage. The FactSet consensus is for sales of $5.476 billion, suggesting a 6.9% increase. For the full year, Sherwin-Williams is guiding for a net sales up in the high-single to low-double digit percent range, EPS of $8.01 to $8.31 and adjusted EPS of $9.15 to $9.45. The FactSet consensus is for sales of $20.282 billion, implying a 10.5% rise, and EPS of $9.50. Sherwin-Williams shares have run up 16.5% for the year to date while the S&P 500 index is up 17.7% for the period.


Grilling company Weber to offer 46.9 million shares in IPO, priced at $15 to $17 each

MarketWatch - 11hr

Weber Inc. set terms for its initial public offering on Tuesday, with the grill and outdoor cooking accessories maker planning to offer 46.9 million shares priced at $15 to $17 each. The company would raise $797.3 million at the top of that range. The company has applied to list on the New York Stock Exchange, under the ticker "WEBR." Goldman Sachs, BofA Securities and JP Morgan are lead underwriters in a syndicate of 12 banks. Proceeds of the deal will be used to repay debt and for general corporate purposes. Weber reported net income of $73.8 million on revenue of $963.3 million for the six months ended March 31, after income of $23.6 million on revenue of $596.4 million in the same period a year ago. For the fiscal year ended Sept. 30, 2020, net income rose to $88.9 million as revenue grew to $1.53 billion, after income of $50.1 million on revenue of $1.30 billion the year before.


JetBlue revenue rises 7-fold to beat forecasts as consumer confidence, travel demand improves

MarketWatch - 11hr

JetBlue Airways Corp. reported Tuesday a narrower-than-expected second-quarter loss and revenue that rose seven-fold from a year ago to beat forecasts as the air carrier saw further month-on-month improvement in travel. The company swung to net income of $64 million, or 20 cents a share, from a loss of $320 million, or $1.18 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 65 cents beat the FactSet loss consensus of 74 cents. Revenue grew 597.7% to $1.50 billion, from $215 million a year ago, and beat the FactSet consensus of $1.44 billion. Load factor improved to 79.2% from 33.8%, topping the FactSet consensus of 75.6%, as traffic increased 1,223.7% to 10.80 billion revenue passenger miles and capacity grew 465.6% to 13.65 billion available seat miles. "In the second quarter, we saw strong signs that consumer confidence and travel demand is returning, with second quarter revenue doubling compared to the first quarter driven by pent-up demand," said Chief Executive Robin Hayes. The stock, which slipped 0.1% in premarket trading, has gained 10.5% year to date through Monday, while the U.S. Global Jets ETF has tacked on 5.5% and the S&P 500 has advanced 17.7%.


APi Group to acquire Chubb Fire and Security Business from Carrier for $3.1 billion

MarketWatch - 11hr

APi Group Corp. said Tuesday it has agreed to acquire the Chubb Fire & Security Business from Carrier Global Corp. in a deal with an enterprise value of $3.1 billion. Chubb, which is headquartered in the U.K., has about 13,000 employees around the world and services more than 1.5 million customer sites in Europe, Asia Pacific and Canada." With the acquisition of Chubb, we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform," ApI Chief Executive Russ Becker said in a statement. "There is also significant opportunity to leverage Chubb's 200+ year history of providing statutorily required and route-based services through its internationally recognized brand." APi co-Chair James Lillie said the deal includes a combined $800 million investment in perpetual preferred equity from Blackstone and Viking Global Investors. Chubb had revenue of about $2.2 billion in the year through March 31. The deal is expected to close around year-end. APi shares rose 4.2% premarket and are up 12% in the year to date, while the S&P 500 has gained 17.7%.


Raytheon stock rallies after profit, revenue and FCF beats and raised outlook

MarketWatch - 12hr

Shares of Raytheon Technologies Corp. rallied 1.4% in premarket trading Tuesday, after the aerospace and defense company reported second-quarter profit, revenue and free cash flow that were above expectations and raised the full-year outlook, as commercial aerospace continued to recover and amid strength in its defense businesses. The company swung to net income of $1.03 billion, or 68 cents a share, from a loss of $3.84 billion, or $2.55 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $1.03, above the FactSet consensus of 93 cents. Revenue rose 13% to $15.88 billion to top the FactSet consensus of $15.83, as revenue beats by the Pratt & Whitney, intelligence and space and missiles and defense businesses helped offset a Collins aerospace miss. Free cash flow was $966 million, well above the FactSet consensus of $775.8 million. The company raised its 2021 outlook for EPS to $3.85 to $4.00 from $3.50 to $3.70 and for revenue to $64.4 billion to $65.4 billion from $63.9 billion to $65.4 billion. The stock has advanced 20.2% year to date through Monday, while the S&P 500 has gained 17.7%.


iCapital Gets $4 Billion Valuation in New Funding Round

WSJ Markets - 12hr

The upstart platform operator, which helps channel investor funds into private-equity investments, has raised $440 million.


CBRE to Buy 60% Stake in Turner & Townsend in $1.3 Billion Deal

WSJ USBusiness - 12hr

The world’s largest commercial-real-estate-services firm is buying a controlling stake in the London-based company ahead of an expected wave of investment in alternative energy and infrastructure.


Biden Administration Moves to Tilt Pay, Power Toward Workers

WSJ USBusiness - 13hr

President Biden is advancing a series of regulatory changes aimed at increasing workers’ pay and gaining them other benefits, moves that opponents say could burden businesses amid an uneven economic recovery.


Big Pharma Quietly Pushes Back on Global Tax Deal

WSJ USBusiness - 13hr

Pharma executives, lobbyists and consultants are mobilizing to fight what has become a threat to drug companies’ bottom lines: an agreement to better harmonize corporate taxation around the globe.


Beijing Gives Tech Investors a Brutal New Tutorial

WSJ Markets - 13hr

Anyone who bought into Chinese internet stocks hoping for a bounce following the dramatic fall from grace of ride-hailing giant Didi has been taught another painful lesson this week.


Credit Suisse Taps Goldman Executive as Chief Risk Officer

WSJ Markets - 14hr

The Swiss bank hired David Wildermuth as part of an effort to get a better grip on risk management, after losing $5.5 billion from family investment firm Archegos.


Aon, Willis Towers Scrap $30 Billion Merger

WSJ Markets - 1d

The Justice Department had alleged the tie-up of insurance brokers would lead to higher prices and reduced innovation for U.S. businesses.


Bitcoin Jumps to a Six-Week High

WSJ Markets - 1d

Some investors attributed the rally to short positions being liquidated and speculation that Amazon may be venturing into digital currencies.


Dow, S&P 500 Set Records

WSJ Markets - 1d

U.S. stocks inched higher, building on last week’s highs, ahead of a busy week of earnings from technology companies. Bitcoin soared on speculation that Amazon may venture into the cryptocurrency universe.