The S&P 500 (-0.3%) has turned negative amid continued weakness in chip stocks while seven sectors remain in positive territory with health care (+2.2%) holding the lead.

Key factors driving today's performance include:

• Continuation of the group's recent strength as participants seek shelter from weakness in chip stocks. The SPDR S&P Health Care ETF (XLV 163.14, +3.60, +2.26%) is up 9% over the past two weeks while the PHLX Semiconductor Index is down 12% during that stretch.
• Support from biotechnology stocks. The SPDR S&P Biotechnology ETF (XBI 157.87, +1.32, +0.84%) hit its best level since February 2021 before narrowing its gain. The ETF has gained 12% over the past two weeks.

Top Gainers

• Moderna, Inc. (MRNA 77.54, +5.04, +6.96%): hit its best level since August 2024 before narrowing its gain.
• Boston Scientific Corporation (BSX 45.68, +2.62, +6.08%): extending this week's bounce off its lowest level since November 2022.
• HCA Healthcare, Inc. (HCA 412.24, +19.00, +4.83%): rising back above its 50-day moving average (403.70) to its best level since mid-May.
• Intuitive Surgical, Inc. (ISRG 421.28, +18.90, +4.70%): rising to its best level since early June.
• Vertex Pharmaceuticals Incorporated (VRTX 518.87, +20.86, +4.19%): rising to a fresh record high. FDA approved expanded use of CASGEVY for patients ages 2 years and older with sickle cell disease or transfusion-dependent beta thalassemia. The label expansion adds approximately 5,500 eligible pediatric patients in the U.S.

Top Losers

• Humana Inc. (HUM 400.24, -9.18, -2.24%): falling from its best level since January 2024.
• Guardant Health, Inc. (GH 168.72, -2.04, -1.20%): falling from its best level since February 2021.
• Revolution Medicines, Inc. (RVMD 185.47, -2.04, -1.09%): deepening this week's reversal from a record high. Company announced Phase 1/2 clinical trial results for zoldonrasib combination regimens in patients with RAS G12D metastatic pancreatic ductal adenocarcinoma. The data are being presented today at the 2026 ESMO Gastrointestinal Cancers Congress.
• Centene Corp. (CNC 67.65, -0.70, -1.02%): falling from its best level since October 2024.
• CVS Health Corp. (CVS 103.84, -0.97, -0.92%): giving back yesterday's gain.

• This manufacturer of irrigation equipment and road safety infrastructure delivered a much stronger-than-expected EPS beat this morning with its Q3 (May) results despite operating in a challenging agricultural environment.
• LNN continues to face many of the same headwinds as ag equipment peers such as Deere (DE), AGCO (AGCO), and CNH Industrial (CNH), where elevated input costs, weak farm profitability, and cautious capital spending have weighed on equipment demand.
• However, Lindsay's exposure to infrastructure provides an important earnings buffer, with its road safety business posting another quarter of growth.
• Importantly, deliveries for the large irrigation project in the Middle East North Africa (MENA) region remain on schedule.
• Looking ahead, US irrigation market conditions remain soft as growers await further trade certainty and an improvement in commodity prices. However, LNN expects Brazil to return to growth due to the solid drivers of secular demand that support investments in irrigation.

• LEU supplies enriched uranium fuel and services to the nuclear power industry and is developing domestic enrichment capacity using its American Centrifuge technology.
• Last night, LEU signed a contract to finalize the terms of the $900 mln DOE task order it was awarded earlier this year. The contract will support commercial-scale HALEU production as part of LEU's broader multi-billion-dollar expansion across both HALEU and conventional LEU capacity.
• For some context, LEU was awarded a contract in 2019 to build and operate a demonstration cascade using U.S. centrifuge technology. The program was later extended to support continued production. LEU has now completed all required production, including the final 900 kilograms of HALEU UF6 roughly two weeks ahead of schedule.
• LEU is now moving from demonstration toward commercialization. The first new capacity is expected online by 2029, while LEU also intends to operate its existing cascade commercially in the interim to serve nearer-term customer demand.
• The initial buildout is expected to include 12 metric tons of annual HALEU production capacity, along with enough conventional LEU capacity to serve LEU's existing $2.4 bln LEU backlog.
• Overall, the finalized contract moves LEU another step closer to commercial-scale production. Completing the demonstration program ahead of schedule also provides some support for execution. Still, the HALEU market remains early, and LEU will need additional funding and customer demand to support the broader buildout.

The following are some of today's most notable large cap movers of interest ($10 bln -- $200 bln market cap), ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

• RIVN (18.96, +1.78, +10.36%) The company announced quarterly production of 12,613 vehicles and deliveries of 12,194 vehicles, topping its outlook of 9,000 to 11,000 vehicles, and raised full year 2026 delivery guidance to 65,000 - 70,000 from 62,000 - 67,000.
• ABVX (145.67, +13.11, +9.89%) The Company ups offering to $920 mln after full over-allotment exercise.
• OWL (9.05, +0.41, +4.80%) The Company's Technology Income Fund discloses it received an estimated total repurchase request of 38.1% of shares outstanding versus 40.4% last quarter.
• TAK (16.66, +0.71, +4.42%) The Company partners with Insilico Medicine on AI-driven drug discovery.
• KTOS (54.79, +1.75, +3.30%) The Company receives ~$36 mln sole-source air defense missile system contract.

Large Cap Losers

• IREN (38.55, -4.77, -11.01%) The Company appoints Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer.
• ALGM (56.80, -6.40, -10.13%) The Company unveils safety PMIC to integrate a whee-speed sensor interface for electromechanical braking.
• NBIS (212.18, -17.00, -7.42%) Softbank (SFTBY) aiming to rent AI compute in U.S., according to Bloomberg.
• JBL (350.92, -24.42, -6.51%) The Company files for mixed securities shelf offering.
• NVMI (470.55, -32.05, -6.38%) The Company announced the selection of its Nova WMC platform by a leading global foundry customer for multiple layers' measurement in the most advanced packaging processes. The selection followed a competitive evaluation, resulting in the Nova WMC being designated as tool-of record. The selection is expected to support multiple advanced packaging production flows, and to position Nova for further deployment opportunities as the customer expands production capacity. In addition to this recent win, Nova noted an accelerating adoption of the WMC, with deployments across several memory and foundry customers.

• This will support large-scale adoption and additional revenue for GENFIT.
• NASHnext will be reimbursed by Medicare under the Clinical Laboratory Fee Schedule at approximately $252 per test.
• Reimbursement to Medicare patients that meet coverage criteria will become effective beginning August 10, 2026.

• With an initial allocation of up to $5 million, the funding aims to prepare current and future workers across Texas for advanced manufacturing and industry technician jobs of tomorrow.
• Investment will focus on reducing barriers to training, defining in-demand skills for future jobs, and connecting individuals to careers in advanced manufacturing.
  
• Texas State Technical College, Manufacturing Institute and local organizations will help advance the effort.

• Healthcare: PFE (18.3 mln +1.93%)
• Industrials: AAL (33.48 mln -1.29%), SPCX (21.6 mln +0.3%)
• Consumer Discretionary: TSLA (34.72 mln -6.68%), WEN (17.78 mln -3.75%), F (17.39 mln -2.1%), AMZN (17.04 mln +1.55%)
• Information Technology: NVDA (46.53 mln -1.29%), INTC (46.51 mln -3.14%), NOK (31.06 mln -4.65%), AAPL (27.12 mln +4.09%), MU (26.42 mln -2.97%), BB (26.04 mln -7.92%)
• Financials: TQQQ (44.68 mln -3.81%), SQQQ (40.58 mln +3.8%), YRD (36.77 mln +31.98%), QQQ (19.32 mln -1.22%)

• Healthcare: CYH (1.46x +7.06%), GRFS (1.42x +2.23%)
• Materials: MERC (1.38x +9.47%), OR (1.38x -1.45%), AEM (1.08x -0.71%), RYAM (1.04x -0.19%)
• Industrials: CSTE (3.63x +4.79%), AVAV (1.41x +11.63%), GBX (1.32x -4.22%), PATK (1.25x -0.47%)
• Consumer Discretionary: UXIN (1.25x -12.89%), JACK (1.04x -6.36%)
• Financials: YRD (226.13x +31.98%), SCZ (2.71x +0.89%), THQ (2.01x +0.86%), TWO (1.03x +0.54%)
• Consumer Staples: FIZZ (1.24x +13.52%)
• Utilities: IDA (1.38x +1.33%), AQN (1.1x +2.75%)

• Today's top 20 % gainers
  • Healthcare: NVCR (17.18 +8.87%), CRSP (60.14 +8.13%), VYGR (3.89 +8.06%), MRNA (77.76 +7.26%), THC (204.87 +7.15%), TLRY (4.75 +7.11%), CYH (3.79 +7.06%), EDIT (3.51 +6.86%), SRPT (19.36 +6.37%), UHS (159.57 +5.97%)
  • Materials: MT (63.22 +6.68%), FMC (11.61 +6.03%)
  • Industrials: AVAV (192.5 +11.63%)
  • Financials: YRD (1.19 +31.98%), DB (35.94 +6.14%)
  • Energy: FRO (36.83 +6.12%)
  • Consumer Staples: FIZZ (35.19 +13.52%)
  Today's top 20 % losers
  • Industrials: VICR (309.5 -11.63%)
  • Consumer Discretionary: UXIN (1.69 -12.89%)
  • Information Technology: ACLS (154.58 -13.32%), MXL (97.92 -12.87%), VECO (61.54 -12.73%), AAOI (122.89 -11.59%), FORM (131 -10.96%), UCTT (115.45 -10.91%), MEI (16.41 -10.89%), TER (384.65 -9.99%), TTMI (162.8 -9.4%), MKSI (372.6 -9.35%), KLAC (241.31 -9.35%), ENTG (149.83 -9.3%), VPG (130.64 -9.28%), COHU (62.79 -9.14%), VNET (8.01 -9.08%), TSEM (224.09 -8.71%), KLIC (122.24 -8.65%), AMKR (73.28 -8.39%)

The S&P 500 (+0.1%), Nasdaq Composite (-0.4%), and DJIA (+0.7%) are mixed shortly before midday as stocks see a continuation of yesterday's main trends.

Chipmakers and other AI-infrastructure stocks have given up their opening gains, with the PHLX Semiconductor now down 3.3%, sending the index into negative week-to-date territory. The information technology sector (-0.6%) holds a more modest loss as Apple (AAPL 306.35, +11.97, +4.07%) and Microsoft (MSFT 388.69, +4.41, +1.15%) are once again cushioning the chipmaker weakness.

Mega-cap stocks elsewhere are not quite as supportive, with Meta Platforms (META 589.19, -23.72, -3.87%) giving back a chunk of yesterday's 9% rally while Tesla (TSLA 399.37, -25.93, -6.10%) sinks despite a strong Q2 deliveries report.

However, the broader market is picking up some of that slack as investors continue to rotate instead of pulling out of equities entirely. Eight S&P 500 sectors trade higher, five of which hold gains wider than 1.0%. The defensive health care (+2.1%), consumer staples (+1.7%), and utilities (+1.3%) sectors are particularly strong amid the weakness across mega-cap names. As a result, the S&P 500 Equal Weighted Index (+0.4%) outperforms the market-weighted S&P 500 (+0.1%).

The following are some of today's most notable mid cap movers of interest ($2 bln -- $10 bln market cap), ranked by % change (all stocks over 100K average daily volume).

Mid Cap Gainers

• PLBL (10.40, +1.72, +19.77%) The Company announced a non-binding Memorandum of Understanding with AUTHAIKAM COMPANY LIMITED to jointly evaluate a potential AI computing center project in Thailand with planned power capacity of up to approximately 100 megawatts.
• FIZZ (34.94, +3.94, +12.71%) Shares are higher after the company reported FY 2026 results and declared a $3.25/share special cash dividend.
• AVAV (188.92, +16.48, +9.55%) Last night, AVAV was awarded a $500 mln firm-fixed-price U.S. Army contract for commercial counter-unmanned aerial systems and counter-small-UAS capabilities.
• WAY (23.22, +1.79, +8.49%) initiated with an Overweight at KeyBanc.
• CRNX (41.18, +2.50, +6.48%) initiated with a Buy at UBS.

Mid Cap Losers

• OUST (50.60, -9.42, -15.70%) The company said all shares in the offering are being sold by the Company, with gross proceeds expected to be approximately $200.0 million before deductions.
• ORKA (84.90, -9.39, -10.07%) The Company discloses it entered first amendment to license agreement with Paragon Therapeutics.
• VSH (47.25, -3.96, -7.73%) The Company introduces new ready-to-use multi-turn absolute position sensor designed for high accuracy and long term stability in demanding environments.
• LCID (6.17, -0.46, -6.86%) The Company announced production and delivery totals for the quarter ended June 30, 2026; During this period, the company produced 4,774 vehicles and delivered 3,953 vehicles.
• AEO (16.66, -0.63, -3.64%) The Company announces that CFO Mike Mathias will transition to serve as a strategic advisor to CEO Jay Schottenstein; names Ravi Thanawala as next CFO and reaffirms guidance.

• Trump Accounts are tax-deferred federal investment vehicles for children that will launch on July 4, following years of dialogues between elected officials and business leaders across industries.
• Those born between 2025 and 2028 will receive a one-time, $1,000 federal seed contribution upon enrollment, and Goldman Sachs will provide a matching $1,000 contribution to its U.S. employees with eligible children.

• This operator of the world's largest derivatives marketplace continues to benefit from elevated demand for risk management as market volatility, shifting interest rate expectations, and active equity markets keep trading activity robust.
• CME Group's record June ADV and second-highest quarterly volume underscore that trading demand remains broad-based, with particularly strong participation in equity index and agricultural products.

• The Philadelphia Semiconductor Index had been up 1.3% but is now down 3.9%. There was no news catalyst for the reversal. Just a further unwinding of this momentum trade.
• Tesla (TSLA 397.11, -28.19, -6.63%) had been up as much as 1.7% following its better-than-expected deliveries update but is now down nearly 7%.
• The S&P 500 has struggled the past few sessions to maintain a posture above the 7,500 level.

The following are some of today's most notable small cap movers of interest ($300 mln -- $2 bln market cap), ranked by % change (all stocks over 100K average daily volume).

Small Cap Gainers

• TENX (14.85, +1.56, +11.74%) The Company announces late-breaking presentation of LEVEL clinical trial data at ESC Congress 2026.
• CATX (3.72, +0.26, +7.66%) The Company provides clinical program updates in presentation.
• NAT (5.92, +0.37, +6.56%) The Company says "Our ships are out of the Arabian Gulf".
• PROK (1.97, +0.08, +4.50%) The Company names Kenneth Locke as Chief Technical Officer.
• LZ (6.92, +0.37, +5.57%) OpenAI expands Codex beyond coding with new AI tools for finance, sales and legal work, according to Bloomberg.

Small Cap Losers

• AGNT (5.23, -0.46, -8.00%) downgraded to Neutral from Buy at DA Davidson.
• JBIO (20.44, -1.37, -6.28%) The Company entered a License Agreement with Paragon Therapeutics, Inc. on June 29, 2026.
• KODK (8.88, -0.42, -4.52%) The Company files for 4,426,268 share common stock offering by selling shareholders.
• BTQ (5.09, -0.21, -3.87%) The Company announced that the commercial version of QuREKA, the hybrid quantum cloud platform operated by its strategic partner SDT Inc., will be unveiled at Quantum Korea 2026, taking place July 2 to 4 at the Dongdaemun Design Plaza in Seoul. At the core of the commercial platform is MIMIQ, the high-performance quantum emulator developed by QPerfect SAS, the French quantum software company that is expected to become a wholly-owned subsidiary of BTQ following the completion of the Company's previously announced acquisition, which remains subject to customary closing conditions.
• GBX (46.12, -1.76, -3.68%) downgraded to Neutral from Positive at Susquehanna. The Company reports EPS in-line, misses on revs; lowers FY26 EPS guidance, reaffirms FY26 revs guidance.

• The position sensor released today is available at a 40 % lower cost than previous-generation devices.
• Samples and production quantities of the 34 PHE are available now, with lead times of 14 weeks.

• Monday (July 6)
  • Morning: None
  • Afternoon: None
• Tuesday (July 7)
  • Morning: None
  • Afternoon: EPAC PENG
• Wednesday (July 8)
  • Morning: HELE
  • Afternoon: AZZ LEVI PSMT
• Thursday (July 9)
  • Morning: PEP SMPL
  • Afternoon: WDFC
• Friday (July 10)
  • Morning: DAL
  • Afternoon: None

The S&P 500 (+0.2%) is looking for a higher finish to the holiday week with eight sectors taking part in the early advance while top-weighted technology (-0.7%) is off to a bumpy start.

Key factors driving today's performance include:

• Gains in top components Apple (AAPL 305.18, +10.80, +3.67%) and Microsoft (MSFT 389.24, +4.96, +1.29%) countered by continued volatility in chip stocks. The PHLX Semiconductor Index (-2.9%) is currently down 1.8% for the week.
• Continuation of this week's rebound in software stocks lifting the iShares Expanded Tech-Software Sector ETF (IGV 94.13, +0.79, +0.85%) toward its best close in nearly four weeks.

Top Gainers

• Strategy Inc (MSTR 101.31, +7.92, +8.48%): extending this week's bounce off its lowest level since February 2024.
• Apple Inc. (AAPL 305.18, +10.80, +3.67%): rising to its best level in more than three weeks. Company is gearing up to launch a re-imagined base-model MacBook Pro and next-gen iPad Pro for 2027 and it is lobbying for clearance to buy memory chips from China, according to Bloomberg.
• Palantir Technologies Inc. (PLTR 130.15, +4.42, +3.52%): extending last week's bounce off its lowest level since May 2025. DA Davidson upgraded the stock to Buy from Neutral with a target of $175.
• Adobe Inc. (ADBE 217.79, +6.81, +3.23%): rising to a three-week high. HSBC Securities upgraded the stock to Buy from Hold with a target of $308.
• Autodesk, Inc. (ADSK 205.01, +5.25, +2.63%): seeking its best close in three weeks.

Top Losers

• KLA Corporation (KLAC 248.00, -18.19, -6.83%): deepening this week's reversal from a record high.
• MKS Inc. (MKSI 384.58, -26.47, -6.44%): deepening this week's reversal from a record high.
• Sandisk Corporation (SNDK 1907.92, -124.30, -6.12%): falling to a three-week low.
• Lam Research Corporation (LRCX 367.86, -23.40, -5.98%): deepening this week's reversal from a record high.
• Applied Materials, Inc. (AMAT 616.12, -34.78, -5.34%): deepening this week's reversal from a record high.

Economic Data Summary:

• June Nonfarm Payrolls 57K (Briefing.com consensus 110K); Prior was revised to 129K from 172K, June Nonfarm Private Payrolls 49K (Briefing.com consensus 88K); Prior was revised to 97K from 120K, June Unemployment Rate 4.2% (Briefing.com consensus 4.3%); Prior 4.3%, June Average Hourly Earnings 0.3% (Briefing.com consensus 0.3%); Prior 0.3%, June Average Workweek 34.3 (Briefing.com consensus 34.3); Prior 34.3
  • The key takeaway from the report for the market, which likes to see the good in the bad, is that the softer payrolls and pressure on real earnings should temper concerns about an imminent rate hike.
    
• Weekly Initial Claims 215K (Briefing.com consensus 220K); Prior was revised to 216K from 215K, Weekly Continuing Claims 1.814 mln; Prior was revised to 1.812 mln from 1.821 mln
  • The key takeaway from the report is that initial jobless claims continue to track at low levels, offering a nice cue that suggests the labor market, overall, remains on solid ground.
• May Factory Orders -1.3% (Briefing.com consensus 1.5%); Prior was revised to 5.3% from 4.8%
  • The key takeaway from the report is that the headline weakness was a function of a large decline in volatile transportation equipment orders. Exclude that factor, and factory orders were quite solid in May.

Upcoming Economic Data:

• June S&P Global U.S. Services PMI - Final due out Monday at 9:45 ET (Prior 51.3)
• June ISM Non-Manufacturing Index due out Monday at 10:00 ET (Prior 54.5%)

• Securitize's common stock begins trading today on the New York Stock Exchange under the ticker symbol SECZ, and eligible U.S. investors will be able to access tokenized SECZ separately through Securitize's regulated platform.
• The launch makes Securitize the first newly public company to bring its own stock onchain at the start of its life as a public company.
• Based on expected shareholder participation, tokenized SECZ is also expected to become the largest tokenized stock globally.

Taking an early look at the options market, we found the following names that may be worth watching throughout the day for further indication of investor expectations given their options volume and implied volatility movement.

Stocks seeing volatility buying (bullish call buying/bearish put buying):

Calls:

• BAC Weekly Jul10 62.0 calls are seeing interest with 1.3K contracts trading vs. open int of 1.3K, pushing implied vol up around 1 points to ~25%. Co is confirmed to report earnings July 14 before the open.

Puts:

• IREN Jan '28 10.0 puts are seeing interest with 1.9K contracts trading vs. open int of 80, pushing implied vol up around 10 points to ~110%. IREN Limited appoints Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer.

Sentiment: The CBOE Put/Call ratio is currently: 0.59, VIX: (15.91, -0.68, -4.10%).
July 17 is options expiration -- the last day to trade July equity options.
*Please use the Talk to Us link at the top of the page to provide feedback on this comment as well as the OPTNX comments. Data provided by LiveVol.com.

• The new plant, with an investment volume of five billion euros, is the largest single investment in Infineon's history and one of the largest investment projects in Germany, creating 1,000 new, direct jobs.
• Infineon chips enable energy-efficient solutions for automotive and industrial applications such as power supplies for AI data centers, renewable energy sources, power grids and software-defined vehicles.
• The capacity ramps-up at double speed possible to leverage market opportunities effectively and flexibly.

• "This acquisition positions Kraken as a global provider of mission-critical, dual-use subsea intelligence solutions," said Greg Reid, CEO of Kraken Robotics. "Since announcing the transaction, we have received positive feedback from customers who are looking forward to working with our combined engineering teams on integrated subsea technology solutions. We welcome the new employees to the team and look forward to the many benefits this combination can provide. Together, Kraken and Covelya Group bring complementary products, technological capabilities, and customer relationships that we expect will strengthen Kraken's growth potential and long-term outlook. This positive long-term outlook is further supported by the expected increase in defence budgets globally, including growing investment in autonomous underwater systems."
• Since reporting its Q1 2026 results on May 28, 2026, Kraken and Covelya have secured additional product orders of approximately $13 million and $17 million, respectively. These awards bring announced orders in 2026 to approximately $110 million for Kraken and $182 million for Covelya Group. Gross profit margins associated with these orders are consistent with historical gross profit margins.
  

The S&P 500 (+0.7%), Nasdaq Composite (+0.8%), and DJIA (+0.6%) opened to broad gains, with the DJIA notching another all-time high.

Nine S&P 500 sectors trade higher, with each holding a gain of 0.5% or wider. The energy sector (+1.2%) leads the advance despite WTI crude oil slipping below $68 per barrel.

The information technology sector (+1.2%) is also moving higher this morning, with Palantir Technologies (PLTR 131.68, +5.96, +4.74%) once again leading a strong early showing from software names, while the PHLX Semiconductor Index (+0.9%) rises off of yesterday's lows.

Weakness is limited to the communication services (-0.1%) and consumer discretionary (-0.4%) sectors, as some of their mega-cap components move lower after sharp gains yesterday.

Just released, factory orders decreased 1.3% month-over-month in May (Briefing.com consensus: 1.5%) following an upwardly revised 5.3% increase (from 4.8%) in April.

• Last night, AVAV was awarded a $500 mln firm-fixed-price U.S. Army contract for commercial counter-unmanned aerial systems and counter-small-UAS capabilities.

• On June 28, 2026, Ajay K. Puri, Executive Vice President, Worldwide Field Operations of NVIDIA Corporation, or the Company, notified the Company of his intention to retire from his role effective upon the employment commencement date of his successor. Mr. Puri, a 21-year executive at NVIDIA, is expected to remain with the Company in a senior advisory role to ensure a seamless transition to his successor.
• On July 1, 2026, the Company appointed Nicholas Parker, age 55, as Executive Vice President, Worldwide Field Operations of the Company, effective upon the commencement of his employment with the Company, which is anticipated to be on August 24, 2026. Mr. Parker will join the Company after 26 years at Microsoft Corporation (MSFT).

• Otis Brazil, part of Otis Worldwide Corporation (OTIS), has completed comprehensive technical upgrades to the three elevators that connect visitors who access Alto Corcovado through the Corcovado Train to see Christ the Redeemer, a monument located in the Tijuca National Park, in Rio de Janeiro. Otis will also install four new escalators and two inclined elevators at the iconic site, further enhancing accessibility to the world-renowned monument.
• CitroTech (CITR) announced the expansion of its certified partner network from two to 13 organizations. Building on recent market traction in Colorado and an established presence in some of California's most populated metropolitan areas, CitroTech has expanded into Florida, Montana, and Washington as part of its targeted growth strategy.
• Planet Labs (PL) Germany announced a strategic launch agreement. Under the agreement, Isar Aerospace will launch one of Planet's next-generation high-resolution Pelican satellites, with additional satellites planned for future launches. The Pelican is scheduled to fly on Isar Aerospace's Spectrum launch vehicle, currently scheduled as early as late 2026 from Isar Aerospace's dedicated launch complex at Andya Space.

• CoStar Group (CSGP) announces the official launch of the CoStar platform in France -- bringing its commercial real estate intelligence platform to one of Europe's largest markets. The launch builds on CoStar Group's acquisitions of BureauxLocaux and Business Immo and significant investment in local proprietary research to create one of the most comprehensive commercial property databases ever built for the French market.
• Butterfly Network (BFLY) announces the commercial availability of its Butterfly iQ+ and iQ3 handheld ultrasound devices and mobile application in Brazil through a network

• The transaction is expected to be immediately accretive, and close during the third quarter of 2026.
• The acquisition increases Hagerty's international scale, augmenting the ongoing investment into Hagerty's Broad Arrow business outside of the United States.

• F-Series retains truck crown: America's No. 1 truck is on pace for 50 straight years as the nation's best-selling truck, delivering 357,801 units through June.
• Record Maverick Hybrid sales: America's No. 1 hybrid truck set a second quarter record with 29,457 vehicles sold.
• Large SUV momentum: Combined sales of Bronco, Explorer and Expedition rose 10.1%, representing the best first-half performance for this high-margin lineup in 25 years.
• Bronco sets a new milestone: Bronco set first half and second quarter record and outsold Jeep Wrangler in Q2.
• Off-Road performance expansion: Sales of Ford's off-road performance vehicles rose 6.5% through the first half.
• Mustang dominates sports cars: First-half Mustang sales surged 22% to 28,725 vehicles, outselling its nearest non-premium competitor sevenfold.

The stock market remains on track for a higher opening as semiconductor stocks look to bounce back from yesterday's rout while the market assesses this morning's economic data.

Nonfarm payrolls increased by just 57,000, while nonfarm private payrolls rose by just 49,000, driven by a 69,000 increase in private education and health services that was offset by a 61,000 decline in leisure and hospitality. Moreover, one can extrapolate that average hourly earnings struggled again to keep up with inflation. They were up 0.3% month-over-month in June, pitted against a 0.5% month-over-month increase in CPI inflation in May.

The key takeaway from the report for the market, which likes to see the good in the bad, is that the softer payrolls and pressure on real earnings should temper concerns about an imminent rate hike.

• Cognizant (CTSH) announced it is applying GPT-5.5 with Trusted Access for Cyber, through its Frontier AI Cyber Defense services, to help enterprises move faster from vulnerability discovery to validated, tested fixes. As a member of the OpenAI Daybreak Cyber Partner Program, Cognizant is putting frontier AI capability into its security experts' hands, helping strengthen how clients defend the software they build and operate.
• Navan (NAVN) announced the launch of its Model Context Protocol, which allows customers to connect Navan to their existing AI tools and securely access their travel and expense data together through simple queries that use natural language.
• Regions Financial (RF) announced it has closed on the acquisition of The Frazer Lanier Company, Incorporated, a full-service investment banking firm specializing in municipal and corporate securities.

The following appointments to the Lucid Global Leadership Team were announced today:

• Alexander De Bock will join Lucid as incoming Chief Financial Officer. He brings more than two decades of automotive finance leadership, including serving as CFO of TI Automotive, where he helped lead a turnaround focused on cost transformation, restructuring and improved financial rigor. De Bock joins Lucid with deep expertise in driving financial discipline and performance in complex global organizations.
• Raja Ramana Macha will join Lucid as Chief Technology Officer with responsibility for the company's technology strategy and engineering execution. He most recently served as Executive Vice President and Chief Technology Officer at Eaton, where he led global innovation and technology development across multiple sectors, including automotive. Macha brings extensive experience in scaling innovation and aligning engineering with business outcomes.
  Billy Hayes will join Lucid's executive team as Chief Customer Officer, effective immediately, with enterprise accountability for customer experience, including sales, service and marketing, as well as regional
• P&L responsibility for the U.S., Middle East and Europe. He brings more than 25 years of global automotive experience, including senior leadership roles at Nissan and Stellantis. Hayes is focused on transforming customer experience and driving commercial performance across markets.
• Hugo Martinho will join Lucid as Chief Transformation Officer, effective August 1, leading enterprise-wide transformation initiatives to accelerate execution and increase accountability. He will oversee the new
• Lucid Business Process function, focused on building a more integrated and efficient operating model across markets and functions. Martinho brings more than 20 years of global industrial experience from the
• Schindler Group, where he most recently served as global head of HR.
• Kay Stepper has been named President of Lucid Technologies and Chief Digital Officer, effective immediately, with accountability for robotaxis, AI, autonomy, ADAS, and enterprise IT. He will lead Lucid Technologies which will become a distinct business unit focused on strategic partnerships and advanced technologies to accelerate shareholder value creation in this high growth, fast changing sector. Stepper brings more than 25 years of experience across the automotive and technology sectors, including leadership roles at Bosch and Qualcomm.
• Christian Appel has been promoted to Vice President, Program Management, effective immediately, with responsibility for platform program delivery and product portfolio management. Since joining Lucid in April 2025, he has led global production control and planning at Lucid's AMP-1 manufacturing facility in Arizona. Appel brings more than 15 years of automotive experience and a strong track record in execution and operational coordination.

The S&P 500 futures currently trade 18 points above fair value.

Equity indices had a mixed showing on Thursday with South Korea's Kospi (-7.9%) falling past it 50-day moving average to a three-week low amid weakness in Samsung and SK Hynix. Japanese officials are reportedly considering a shift away from hinting at interventions before they take place. Japan's Prime Minister Takaichi is visiting India, looking to form some reciprocal agreements on investment. Berkshire Hathaway has reportedly continued increasing its stakes in top Japanese trading houses. Japan's final tax revenue for the last fiscal year is expected to reach a six-year high.

• In economic data:
  • Japan's June Monetary Base -13.7% yr/yr (expected -10.0%; last -12.2%)
  • South Korea's June CPI 0.1% m/m, as expected (last 0.5%); 3.2% yr/yr, as expected (last 3.1%)
  • Hong Kong's May Retail Sales 7.9% yr/yr (last 8.6%)
  • Australia's May trade deficit AUD3.018 bln (expected surplus of AUD2.190 bln; last surplus of AUD1.383 bln). May Imports 2.6% m/m (last 0.2%) and Exports -6.9% m/m (last 7.2%)
  • New Zealand's May Building Consents -4.0% m/m (last 11.1%)

---Equity Markets---

• Japan's Nikkei: -2.5%
• Hong Kong's Hang Seng: +0.8%
• China's Shanghai Composite: -2.0%
• India's Sensex: +0.8%
• South Korea's Kospi: -7.9%
• Australia's ASX All Ordinaries: UNCH

Major European indices trade in the green. The European Central Bank's policy forum in Portugal concluded, leading the market to believe that not just the Federal Reserve, but the Bank of England and the European Central Bank are also looking to pull back from giving constant forward guidance. Germany's Chancellor Merz said that a pension overhaul will be complete by the end of the year, adding that income tax cuts amounting to about EUR10 bln are in the cards.

• In economic data:
  • Eurozone's May Unemployment Rate 6.2% (expected 6.3%; last 6.2%)
  • France's May government budget deficit EUR93.3 bln (last deficit of EUR69.6 bln)
  • Italy's May Unemployment Rate 5.0% (expected 5.1%; last 5.1%)
  • Spain's June Unemployment Change -28,700 (expected -40,800; last -36,300)
  • Swiss June CPI 0.0% m/m (expected 0.1%; last 0.2%); 0.5% yr/yr, as expected (last 0.6%)

---Equity Markets---

• STOXX Europe 600: +1.1%
• Germany's DAX: +1.5%
• U.K.'s FTSE 100: +0.8%
• France's CAC 40: +1.3%
• Italy's FTSE MIB: +1.8%
• Spain's IBEX 35: +1.5%

• Co has successfully completed the acquisition of the Camden critical mineral, heavy rare earths, and infrastructure assets. Highly synergistic with the adjacent Titan Project in Tennessee, this acquisition materially consolidates and expands IperionX's landholding across the Big Sandy Critical Minerals Province.

• Co introduces the A81415, the industry's first ASIL-D-certified Power Management IC (PMIC) to integrate a wheel-speed sensor interface. The new device provides electromechanical braking (EMB) designers with a substantially simplified, single-chip power and sensing foundation for next-generation brake-by-wire systems.
• With an on-chip wheel-speed sensor interface (WSSI), the A81415 safety PMIC decodes standard 2-level, 2-level Pulse Width Modulation (PWM), and 3-level AK protocols (standard and high-resolution) without complicated analog circuitry or a separate decoder IC.
• By incorporating a fully integrated buck-boost pre-regulator, five Low-Dropout (LDO) regulators, and a single-inductor architecture that requires no external switches or diodes, the A81415 eliminates up to nine external components and unlocks up to $4 in semiconductor bill-of-materials (BOM) savings per vehicle, delivering meaningful cost advantages at OEM production scale.

• Stockholders approved the Plan of Conversion and Reorganization whereby Columbia Bank MHC will convert from mutual holding company form to the fully public stock holding company form, and approved its acquisition of Northfield Bancorp (NFBK), which will occur simultaneously upon completion of the Conversion.
• In addition, at a Special Meeting of Members of Columbia Bank MHC held on June 29, 2026, the depositors of the Bank approved the Conversion. Between the orders received in the subscription offering of shares of common stock of Columbia Financial and the proposed successor to the Holding Company, which expired June 16, 2026, and the increased orders received in the previously announced resolicitation of maximum purchasers in the subscription offering, which concluded on June 30, 2026, the Company received approximately $1.1 billion in the subscription offering. The Company expects to commence a firm commitment underwritten offering during the week of July 6, 2026 to sell shares of its common stock not sold in the subscription offering at $10.00 per share.
• Completion of the Conversion remains subject to (1) the receipt of all required final regulatory approvals, including the final independent appraisal, and (2) the sale of at least 142,375,000 shares of common stock, including shares that may be issued as merger consideration to stockholders of Northfield, at the adjusted minimum of the offering range.

The S&P 500 futures currently trade 41 points above fair value.

Just released, nonfarm payrolls increased by 57,000 (Briefing.com consensus: 110,000) in June. May nonfarm payrolls were revised to 129,000 from 172,000.

June private sector payrolls increased by 49,000 (Briefing.com consensus: 88,000). May private sector payrolls were revised to 97,000 from 120,000.

The June unemployment rate was 4.2% (Briefing.com consensus: 4.3%) versus 4.3% in May.

June average hourly earnings were up 0.3% (Briefing.com consensus: 0.3%) on the heels of a 0.3% increase in May.

The average workweek in May was 34.3 hours (Briefing.com consensus: 34.3) versus 34.3 hours in May.

Initial jobless claims for the week ending June 27 declined by 1,000 to 215,000 (Briefing.com consensus: 220,000) from the upwardly revised previous level of 216,000 (from 215,000).

Continuing jobless claims for the week ending June 20 increased by 2,000 to 1.814 million from the downwardly revised prior level of 1.812 million (from 1.821 million).

• Ondo Finance announces the first live solution of third-party tokenized U.S. securities operating entirely within the existing regulatory perimeter in the U.S., in partnership with Broadridge Financial Solutions Inc. to provide full voting rights for tokenized equity holders.
• Broadridge will enable holders of the tokenized securities to participate in proxy voting and receive regulatory disclosures, seamlessly providing token holders with the same protections and rights as holders of traditional securities

• The co announced production and delivery totals for the quarter ending June 30, 2026. The company produced 12,613 vehicles at its manufacturing facility in Normal, Illinois and delivered 12,194 vehicles during the same period. Delivery results topped Rivian's outlook of 9,000 to 11,000 vehicles for the quarter due to robust growth quarter-over-quarter in EDV and R1 coupled with the introduction of R2 deliveries.
• As a result of the progress Rivian has made, and the production and delivery outlook for the second half of the year, the company is today raising its full year 2026 delivery guidance from 62,000 - 67,000 vehicles, to 65,000 - 70,000.

• The Comapany's affiliate, EG BioMed US Inc., has obtained out-of-state clinical laboratory licenses in Rhode Island and Pennsylvania for its CLIA-certified, CAP-accredited laboratory in Bothell, Washington.
• This geographic expansion directly broadens patient access and supports the Company's early cancer detection operations.

• Co announced today that results from the Phase 3 LEVEL clinical trial will be presented in a Late-Breaking Clinical Science session at the European Society of Cardiology Congress 2026, being held August 28-31 in Munich, Germany.
• In anticipation of potentially receiving topline results from the LEVEL clinical trial in time for presentation at ESC, an abstract was recently submitted. The Company now expects to report data in August 2026, and in the weeks ahead will proceed towards the planned database lock and statistical analysis.
• LEVEL (NCT05983250) is a registrational Phase 3 clinical trial evaluating TNX-103 (oral levosimendan) in patients with pulmonary hypertension in heart failure with preserved ejection fraction (PH-HFpEF) in the United States and Canada. Enrollment of over 230 patients was completed in March 2026. In December 2025, a prespecified Blinded Sample Size Re-estimation (BSSR) demonstrated the trial is powered at well over 90% to detect a 25-meter change in 6-minute walk distance (6MWD), the primary endpoint.
  

• Co announces that it has commenced its previously announced offering of subscription rights to holders of its common stock and holders of its warrants to purchase common stock issued on April 14, 2023, May 17, 2023, December 19, 2023 and November 21, 2025 as of July 1, 2026.
• Pursuant to the rights offering, the Company will distribute Rights to acquire an aggregate of 27,367,171 units on July 2, 2026 at a price per Unit of $5.481 to the Eligible Holders as of the Record Date. Each Unit consists of one share of the Company's common stock and 0.4388 of a warrant to purchase one share of the Company's common stock at an exercise price of $5.481 per whole share.
• Co intends to use the net proceeds of the Rights Offering, if any, to fund its previously announced investment in Frontier Power USA Parent, LLC.

• In connection with the Transaction, ClearOne has agreed to file a registration statement on Form S-1 to raise a minimum of $10,000,000 and a maximum of $15,000,000 concurrently with the closing of the Transaction.
• Vivani will receive 12,500,000 shares of common stock of ClearOne. It is anticipated that Vivani will own 59.4% to 67.5% of the outstanding equity in the combined company and the former shareholders of ClearOne will own 12.7% to 14.4% of the outstanding equity in the Combined Company.
• ClearOne will be renamed "Cortigent Holdings, Inc." and is expected to trade under Nasdaq ticker symbol "CRGT."
• Upon Closing, the Combined Company will be majority-owned by Vivani and will operate independently under the oversight of the reconstituted board of directors.
• The Transaction has been unanimously approved by the boards of directors of both Vivani and ClearOne and is expected to close in the third quarter of 2026.

• Co announces a collaboration with Tekmara, a technology company building AI-enabled infrastructure systems for ocean and offshore environments, and Florida International University (FIU) to evaluate the use of autonomous drone swarms for environmental monitoring projects and coastal restoration.
• The collaboration will evaluate how autonomous drone systems can support large-scale monitoring, environmental sensing and restoration of mangrove and oyster reef habitats while improving the efficiency, consistency and scalability of environmental data collection across coastal and marine environments.

• Alliance Resource Partners (ARLP) announced that it has completed its previously announced acquisition of certain general partner and limited partner interests in AllDale Minerals III, LP and AllDale Minerals IV, LP for approximately $206.2 million, subject to customary post-closing adjustments.
• Jacobs (J) was selected by Tilt Renewables, a leading wind developer and operator, as Owner's Engineer for its 288-megawatt (MW) Palmer Wind Farm near Adelaide, South Australia. The project will feature 407.2MW wind turbine generators which will connect to the grid at 275 kilovolts via two new substations and transmission line to the existing Tungkillo switching station.
• The United Kingdom Atomic Energy Authority and, Eni (E) have formed a joint venture to offer capabilities to the fusion energy sector.
• AuthID (AUID) announced its inclusion in the Microsoft Entra Verified ID partner ecosystem as an Entra Verified ID Identity Verification Partner. This milestone expands authID's potential reach across the global Microsoft customer base and strengthens its partnership momentum with MajorKey Technologies, an Elite Microsoft Partner.

• Kratos Defense & Security Solutions received an approximately $36 mln sole-source contract award for a new air defense missile system.
• The award supports a classified national security program, with work to be performed at a secure Kratos manufacturing facility.

• Co announces that it has entered into a definitive agreement and plan of merger among its wholly owned subsidiary Cortigent, ClearOne (CLRO) a Nasdaq-listed company, and a wholly owned subsidiary of ClearOne, pursuant to which Cortigent will become a wholly owned subsidiary of ClearOne upon consummation.
• In connection with the Transaction, ClearOne has agreed to file a registration statement on Form S-1 to raise a minimum of $10,000,000 and a maximum of $15,000,000 concurrently with the closing of the Transaction.
• "We are excited to announce the planned merger and financing of Cortigent, which represents the culmination of years of work to establish the neurostimulation technology acquired from Second Sight Medical Products as a separate publicly listed company," said Adam Mendelsohn, PhD, Vivani CEO.
• "We continue to have high confidence in our subsidiary's cutting-edge neurostimulation technology. In addition to providing meaningful funding for Cortigent to pursue development of its product portfolio, this transaction is expected to provide additional benefits, including: 1) reducing Vivani's direct expenditures relating to Cortigent; 2) enabling our team to fully focus on advancing our portfolio of miniature, ultra long-acting drug implants; and 3) achieving Nasdaq-listing of Cortigent."

• Co announces it has received approval from the National Environmental Certification Service for Sustainable Investments in Per to amend its environmental permit and further increase annual mill processing capacity at Constancia. The approval was received in late June and represented the fifth environmental permit amendment at Constancia.
• The amended permit increases the processing capacity of the Constancia mill to 34 million tonnes of ore per annum from the previously permitted 31 million tonnes per annum. In March 2026, Hudbay received permit approval to increase mill throughput capacity to 31 million tonnes from 29.9 million tonnes per annum.
• The environmental permit amendment also approves further optimization of the mine plan, extends the operational life of Constancia, and incorporates the implementation of additional infrastructure to improve tailings transport infrastructure and water management systems.

Equity futures point to a mostly higher open to kick off the last session of a holiday-abbreviated week. Stocks finished mixed in yesterday's action as semiconductor names pulled back after two sharply higher sessions, though rotation into other pockets of the market alongside solid gains in other mega-cap tech names kept things muted at the index level.

Semiconductors are weaker in the premarket again today, with South Korean semiconductor names finishing sharply lower overnight.

Meanwhile, the major averages are on pace for solid weekly gains across the board, with plenty of analyst commentary highlighting the healthiness of this week's rotational action.

Crude oil is on pace for its fourth consecutive weekly decline, adding to the market's positive sentiment. Bloomberg reports that oil continues to flow through the Strait of Hormuz, which underscores Iran's limited ability to halt shipping.

On the data front, investors have plenty of employment data to assess this morning, with the June Employment Situation Report slated for 8:30 a.m. ET alongside weekly jobless claims data.

In corporate news:

• OpenAI discussed giving the U.S. government a 5% stake, according to Financial Times.
• Apple (AAPL 295.20, +0.82, +0.3%) is lobbying the U.S. to purchase chips from two Chinese companies amid the global memory shortage, according to Bloomberg.
• The EU Court of Justice upheld Alphabet's (GOOG 354.39, -3.50, -1.0%) fine of around 4.1 billion.

Reviewing overnight developments:

Equity indices had a mixed showing on Thursday with South Korea's Kospi (-7.9%) falling past it 50-day moving average to a three-week low amid weakness in Samsung and SK Hynix. Japan's Nikkei: -2.5%, Hong Kong's Hang Seng: +0.8%, China's Shanghai Composite: -2.0%, India's Sensex: +0.8%, South Korea's Kospi: -7.9%, Australia's ASX All Ordinaries: UNCH.

In news:

• Japanese officials are reportedly considering a shift away from hinting at interventions before they take place.
• Japan's Prime Minister Takaichi is visiting India, looking to form some reciprocal agreements on investment.
• Berkshire Hathaway has reportedly continued increasing its stakes in top Japanese trading houses.
• Japan's final tax revenue for the last fiscal year is expected to reach a six-year high.

In economic data:

• Japan's June Monetary Base -13.7% yr/yr (expected -10.0%; last -12.2%)
• South Korea's June CPI 0.1% m/m, as expected (last 0.5%); 3.2% yr/yr, as expected (last 3.1%)
• Hong Kong's May Retail Sales 7.9% yr/yr (last 8.6%)
• Australia's May trade deficit AUD3.018 bln (expected surplus of AUD2.190 bln; last surplus of AUD1.383 bln). May Imports 2.6% m/m (last 0.2%) and Exports -6.9% m/m (last 7.2%)
• New Zealand's May Building Consents -4.0% m/m (last 11.1%)

Major European indices trade in the green. STOXX Europe 600: +0.6%, Germany's DAX: +0.8%, U.K.'s FTSE 100: +0.5%, France's CAC 40: +0.9%, Italy's FTSE MIB: +1.2%, Spain's IBEX 35: +1.1%.

In news:

• The European Central Bank's policy forum in Portugal concluded, leading the market to believe that not just the Federal Reserve, but the Bank of England and the European Central Bank are also looking to pull back from giving constant forward guidance.
• Germany's Chancellor Merz said that a pension overhaul will be complete by the end of the year, adding that income tax cuts amounting to about EUR10 bln are in the cards.

In economic data:

• Eurozone's May Unemployment Rate 6.2% (expected 6.3%; last 6.2%)
• France's May government budget deficit EUR93.3 bln (last deficit of EUR69.6 bln)
• Italy's May Unemployment Rate 5.0% (expected 5.1%; last 5.1%)
• Spain's June Unemployment Change -28,700 (expected -40,800; last -36,300)
• Swiss June CPI 0.0% m/m (expected 0.1%; last 0.2%); 0.5% yr/yr, as expected (last 0.6%)

Inching Lower Again

• U.S. Treasuries are on track for a modestly lower start, looking to continue their pullback from June highs. Treasury futures spent the night in a narrow range with a slight downward bias while other sovereign debt underperformed. There was some renewed turbulence in equity sentiment as South Korea's Kospi (-7.9%) sank to a three-week low amid heavy selling in Samsung and SK Hynix. European markets have had a better showing, and there is still some potential for elevated volatility around the 8:30 ET release of the Employment Situation report for June (Briefing.com consensus 110,000; prior 172,000). However, volatility is likely to subside going into the early afternoon given today's early closure in the Treasury market and tomorrow's market-wide closure in observance of Independence Day. Crude oil has dipped below $68/bbl while the U.S. Dollar Index is down 0.3% at 101.07.
• Yield Check:
  • 2-yr: +1 bp to 4.17%
  • 3-yr: +1 bp to 4.19%
  • 5-yr: +2 bps to 4.25%
  • 10-yr: +1 bp to 4.49%
  • 30-yr: +1 bp to 4.98%

• News:
  • Japanese officials are reportedly considering a shift away from hinting at interventions before they take place.
  • Japan's Prime Minister Takaichi is visiting India, looking to form some reciprocal agreements on investment.
  • Japan's final tax revenue for the last fiscal year is expected to reach a six-year high.
  • Germany's Chancellor Merz said that a pension overhaul will be complete by the end of the year, adding that income tax cuts amounting to about EUR10 bln are in the cards.
  • Japan's June Monetary Base was down 13.7% yr/yr (expected -10.0%; last -12.2%).
  • South Korea's June CPI was up 0.1% m/m, as expected (last 0.5%), rising 3.2% yr/yr, as expected (last 3.1%).
  • Hong Kong's May Retail Sales rose 7.9% yr/yr (last 8.6%).
  • Australia's May trade deficit reached AUD3.018 bln (expected surplus of AUD2.190 bln; last surplus of AUD1.383 bln) as imports grew 2.6% m/m (last 0.2%) and exports fell 6.9% m/m (last 7.2%).
  • New Zealand's May Building Consents were down 4.0% m/m (last 11.1%).
  • Eurozone's May Unemployment Rate remained at 6.2% (expected 6.3%).
  • France's May government budget deficit reached EUR93.3 bln (last deficit of EUR69.6 bln).
  • Italy's May Unemployment Rate fell to 5.0% from 5.1% (expected 5.1%).
  • Spain's June Unemployment decreased by 28,700 (expected -40,800; last -36,300).
  • Swiss June CPI was unchanged m/m (expected 0.1%; last 0.2%), rising 0.5% yr/yr, as expected (last 0.6%)
• Commodities:
  • WTI Crude: -2.0% to $67.24/bbl
  • Gold: -0.1% to $4077.50/ozt
  • Copper: -0.6% to $6.143/lb
• Currencies:
  • EUR/USD: +0.2% to 1.1405
  • GBP/USD: +0.3% to 1.3315
  • USD/CNH: UNCH at 6.7950
  • USD/JPY: -0.7% to 161.47
• Data out Today:
  • 8:30 ET: June Nonfarm Payrolls (Briefing.com consensus 110,000; prior 172,000), Nonfarm Private Payrolls (Briefing.com consensus 88,000; prior 120,000), Unemployment Rate (Briefing.com consensus 4.3%; prior 4.3%), Average Hourly Earnings (Briefing.com consensus 0.3%; prior 0.3%), Average Workweek (Briefing.com consensus 34.3; prior 34.3), weekly Initial Claims (Briefing.com consensus 220,000; prior 215,000), and Continuing Claims (prior 1.821 mln)
  • 10:00 ET: May Factory Orders (Briefing.com consensus 1.5%; prior 4.8%)
  • 10:30 ET: Weekly natural gas inventories (prior +76 bcf)
  • 14:00 ET: Treasury market early close

• Co announces it closed the acquisition of WTech Fire, a provider of fire sprinkler, suppression and detection solutions across Europe.
• The acquisition, previously announced on April 17, 2026, adds highly complementary fire sprinkler and suppression capabilities to APi's international business. WTech is expected to contribute approximately $175 mln in annual revenue and to have a margin profile consistent with APi's international business.
• Co increases guidance for FY26 (Dec) to include WTech, co raises FY26 revenue outlook to $8.66-8.86 bln from $8.575-8.775 bln and vs. $8.67 bln FactSet Consensus. Co also raises FY26 adjusted EBITDA guidance to $1.177-1.237 bln from $1.165-1.225 bln.

• DarioHealth (DRIO) said one of the five largest U.S. health insurers extended its contract and expanded the relationship to include Dario's AI-powered hypertension solution after the success of its behavioral health program.
  • The company said the expansion could approximately triple its revenue opportunity with this customer, with revenue expected to begin contributing in 2026 and a larger impact anticipated in 2027 and beyond.
• Dario said the broader partnership strengthens its integrated cardiometabolic and behavioral health platform and expands access to members across the full blood pressure continuum.

• Nova (NVMI) announced the selection of its Nova WMC platform by a leading global foundry customer for multiple layers' measurement in the most advanced packaging processes. The selection followed a competitive evaluation, resulting in the Nova WMC being designated as tool-of record. The selection is expected to support multiple advanced packaging production flows, and to position Nova for further deployment opportunities as the customer expands production capacity. In addition to this recent win, Nova noted an accelerating adoption of the WMC, with deployments across several memory and foundry customers.
• BTQ Technologies Corp. (BTQ) announced that the commercial version of QuREKA, the hybrid quantum cloud platform operated by its strategic partner SDT Inc., will be unveiled at Quantum Korea 2026, taking place July 2 to 4 at the Dongdaemun Design Plaza in Seoul. At the core of the commercial platform is MIMIQ, the high-performance quantum emulator developed by QPerfect SAS, the French quantum software company that is expected to become a wholly-owned subsidiary of BTQ following the completion of the Company's previously announced acquisition, which remains subject to customary closing conditions.

• Co reports average daily volume (ADV) reached a new June record of 30.6 mln contracts, up 19% yr/yr.
• Co also hit its second-highest Q2 volume ever, with 29.8 mln contracts.
• Co also reports all-time monthly records for equity index and agricultural products in June.

• USPH acquired a 67% equity interest, with 33% retained by the current owners. The practice currently generates approximately 112,000 annual visits and $12 million in annual revenue.
• This acquisition expands USPH's footprint from 44 to 45 states, demonstrating our commitment to bring best-in class physical therapy services to local communities while leveraging national resources and expertise to drive growth and deliver exceptional patient care.

Major European indices trade in the green. The European Central Bank's policy forum in Portugal concluded, leading the market to believe that not just the Federal Reserve, but the Bank of England and the European Central Bank are also looking to pull back from giving constant forward guidance. Germany's Chancellor Merz said that a pension overhaul will be complete by the end of the year, adding that income tax cuts amounting to about EUR10 bln are in the cards.

• In economic data:
  • Eurozone's May Unemployment Rate 6.2% (expected 6.3%; last 6.2%)
  • France's May government budget deficit EUR93.3 bln (last deficit of EUR69.6 bln)
  • Italy's May Unemployment Rate 5.0% (expected 5.1%; last 5.1%)
  • Spain's June Unemployment Change -28,700 (expected -40,800; last -36,300)
  • Swiss June CPI 0.0% m/m (expected 0.1%; last 0.2%); 0.5% yr/yr, as expected (last 0.6%)

---Equity Markets---

• STOXX Europe 600: +0.6%
• Germany's DAX: +0.8%
• U.K.'s FTSE 100: +0.5%
• France's CAC 40: +0.9%
• Italy's FTSE MIB: +1.2%
• Spain's IBEX 35: +1.1%

---FX---

• EUR/USD: +0.3% to 1.1411
• GBP/USD: +0.4% to 1.3328
• USD/CHF: -0.4% to 0.8061

Gapping up
In reaction to earnings/guidance:

• FIZZ +6.4% (also declares special dividend of $3.25/share), LNN +3.9%

Other news:

• HCM +6.7% (receives China approval for ORPATHYS in MET-amplified gastric cancer)
• ARCT +6% (announces strategic collaboration with Thermo Fisher Scientific (TMO) to advance ARCT-032 for cystic fibrosis)
• AVAV +4.4% (awarded a $500 mln Army contract)
• ABVX +3.9% (ups offering to $920 mln after full over-allotment exercise)
• TEN +3.2% (second LNG carrier order in Hyundai Heavy Industries)
• TAK +2.2% (partners with Insilico Medicine on AI-driven drug discovery)
• AZN +2.1% (partners with Abbisko to study TAGRISSO combination in NSCLC)
• QXO +1.8% (files for 19,352 share common stock offering, relates to TopBuild acquisition)
• REI +1.7% (pays down $66 mln of debt; borrowing base reaffirmed)
• REZI +1.5% (appoves planned spin-off of its ADI Global Distribution business)
• TLX +1.4% (aligns with FDA on Phase 3 ProstACT trial design)
• CLF +1.3% (awarded a $400 mln Defense Logistics Agency contract)
• NBIX +1.3% (initiates Phase 2 Study of Crinecerfont in pediatric patients under 4 years old)
• NVS +1.3% (receives EU approval for Itvisma in broader SMA population)
• KODK +1.1% (stock offering by selling shareholders)
• GMAB +1% (Partner Therapeutics announces publication of results from the eNRGy trial of zenocutuzumab in patients with NRG1+ cholangiocarcinoma in Journal of Clinical Oncology) 

Gapping down
In reaction to earnings/guidance:

• FC -20.7%, GBX -1.9%

Other news:

• ELTX -20.6% (prices prices $15 mln registered direct offering)
• OUST -6.9% (prices offering of 3,621,876 shares of common stock at $55.22 per share)
• CVEO -5.2% (prices offering of 4.50% convertible senior notes due 2031)
• STRS -3.5% (initial liquidating distribution of $5/share; to delist from Nasdaq and deregister with SEC)
• FPS -2.6% (prices offering of 29,094,075 shares of common stock at $49.00 per share)
• GRDN -2% (acquires Wellness Concepts)
• CMCO -1.9% (names new CFO)
• APOG -1.5% (completes acquisition of Kalwall Companies)

• Closed the Acquisition on June 30, 2026, adding approximately 2,500 boe/d of high-quality Belly River light oil production (76% liquids, based on May production) and 35 net sections of land in the Wilson Creek area of Willesden Green
• Updated 2026 production guidance to 29,000-31,000 boe/d, representing a midpoint of 30,000 boe/d
• Currently targeting approximately 22% total production growth in 2027, including acquired volumes, and approximately 28% growth in light oil production versus 2026
• Planned six-well development program on the acquired lands in early 2027 is expected to increase production from the acquired assets to ~3,000 boe/d
• "The closing of this Acquisition marks a further step in our strategy to accretively grow and strengthen our business," commented Stephen Loukas, Obsidian Energy's President and CEO. "These high-quality contiguous Wilson Creek assets complement our position in the Belly River fairway and add an attractive inventory of future light oil development opportunities. With our existing Willesden Green natural gas infrastructure, which we intend to expand, we are well positioned to remove the constraints that previously limited development of these assets, allowing us to accelerate drilling activities. We have planned a six-well development program on the acquired lands for early 2027 that is expected to drive further incremental production growth and unlock additional value from these assets."
• Mr. Loukas continued, "With our expanded capital program and the contribution from the Acquisition, we now expect total production growth of approximately 22% in 2027, up from 15% previously, led by a 28% growth in light oil driving a significant reduction in operating cost per boe and lowering the Company's break-even costs. Supported by a strong balance sheet and our recently expanded credit facility providing enhanced financial flexibility, we are positioned to capitalize on our growth and value-creation opportunities for our shareholders."

• The Ensign Group, Inc. (ENSG) announced that it acquired the real estate and operations of (i) "Las Ventanas de Socorro", a 126-bed skilled nursing facility located in Socorro, Texas, and (ii) "Los Arcos del Norte Care Center", a 124-bed skilled nursing facility located in El Paso, Texas. The real estate was acquired by subsidiaries of Standard Bearer Healthcare REIT, Inc., Ensign's captive real estate company, and the facilities are operated by Ensign-affiliated tenants. The acquisition was effective as of July 1, 2026.
• Denison Mines Corp. (DNN) reports that Peter Ballantyne Cree Nation has withdrawn its judicial review application previously filed in the Court of King's Bench for Saskatchewan related to the Environmental Assessment approval granted by the Province of Saskatchewan for the Phoenix In-Situ Recovery uranium mine. As a result of further engagement with PBCN, Denison is also pleased to report that PBCN has now formally provided its consent to and support for the development and operation of Denison's Wheeler River Project in northern Saskatchewan.

• The Company further announced the appointment of Mr. Botao Shi as the Company's interim chief financial officer, effective on the same date.
• Mr. Wei Jiang has resigned from his role as the chief financial officer of the Company in order to devote his time and focus to the business and operations of Concord Healthcare Group Co., Ltd. ("Concord Healthcare Group"), the Company's subsidiary listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code 2453.HK. Mr. Jiang's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies, practices, or financial reporting, including its accounting principles and practices.

• Under the terms of the Agreement, Faraday will acquire 100% of the San Manuel property (the "Transaction"). As consideration for the Transaction, Faraday will issue to BHP common shares of Faraday (the "Consideration") equivalent to a 30% interest in the issued and outstanding common shares on a fully diluted basis as of the date of closing. Including shares issued to BHP from its participation in the C$100 million private placement in March 2026, BHP is expected to hold approximately 138 million common shares after the closing of the Transaction.
• In addition, BHP will be granted customary investor rights pursuant to an investor rights agreement, provided it maintains a minimum shareholding requirement.

• Co reports that Peter Ballantyne Cree Nation ("PBCN") has withdrawn its judicial review application previously filed in the Court of King's Bench for Saskatchewan related to the Environmental Assessment approval granted by the Province of Saskatchewan for the Phoenix In-Situ Recovery ("ISR") uranium mine ("Phoenix").
• As a result of further engagement with PBCN, Denison is also pleased to report that PBCN has now formally provided its consent to and support for the development and operation of Denison's Wheeler River Project ("Wheeler River") in northern Saskatchewan.

Highlights:

• Closed the Acquisition on June 30, 2026, adding approximately 2,500 boe/d of high-quality Belly River light oil production (76% liquids, based on May production) and 35 net sections of land in the Wilson Creek area of Willesde Green
• Updated 2026 production guidance to 29,000-31,000 boe/d, representing a midpoint of 30,000 boe/d
• Currently targeting approximately 22% total production growth in 2027, including acquired volumes, and approximately 28% growth in light oil production versus 2026
• Planned six-well development program on the acquired lands in early 2027 is expected to increase production from the acquired assets to ~3,000 boe/d

• As Chief Product Officer, Mr. Aghili will lead IREN's product strategy and roadmap for its AI Cloud platform. He joins from Oracle (ORCL) Cloud Infrastructure, where he served as Vice President of Products, spearheading strategy and development of its native multi-cloud platform across Amazon (AMZN) Web Services, Microsoft (MSFT) Azure and Google (GOOG / GOOGL) Cloud.
• As Chief Development Officer, Mr. Nudelman will lead IREN's global data center development strategy and the expansion of its 5GW secured grid-connected power portfolio across existing and new markets. He brings more than two decades of experience in data center development, energy, finance and management, having held senior roles at Google, CyrusOne and Beale Infrastructure.

• Co announced a strategic collaboration with Thermo Fisher Scientific, the world leader in serving science, to help support the Phase 3 development and potential commercialization of ARCT-032, Arcturus' investigational mRNA therapy for Cystic Fibrosis.
• The collaboration will leverage Thermo Fisher's Accelerator Drug Development solutions, combining manufacturing and clinical research capabilities to support Phase 3 development through potential commercialization. Thermo Fisher will provide integrated manufacturing, clinical research, and commercial readiness services to help accelerate development of ARCT-032 while Arcturus continues to advance the program.
• "We are pleased to collaborate with Thermo Fisher to utilize its impressive CDMO capabilities, global infrastructure, and proven ability to support complex mRNA programs from Phase 3 through potential commercialization," said Joseph Payne, President and Chief Executive Officer of Arcturus Therapeutics. "Their capabilities are aligned with Arcturus' goal of efficiently advancing our cystic fibrosis program into Phase 3 and preparing for potential commercial supply."

Equity indices had a mixed showing on Thursday with South Korea's Kospi (-7.9%) falling past it 50-day moving average to a three-week low amid weakness in Samsung and SK Hynix. Japanese officials are reportedly considering a shift away from hinting at interventions before they take place. Japan's Prime Minister Takaichi is visiting India, looking to form some reciprocal agreements on investment. Berkshire Hathaway has reportedly continued increasing its stakes in top Japanese trading houses. Japan's final tax revenue for the last fiscal year is expected to reach a six-year high.

• In economic data:
  • Japan's June Monetary Base -13.7% yr/yr (expected -10.0%; last -12.2%)
  • South Korea's June CPI 0.1% m/m, as expected (last 0.5%); 3.2% yr/yr, as expected (last 3.1%)
  • Hong Kong's May Retail Sales 7.9% yr/yr (last 8.6%)
  • Australia's May trade deficit AUD3.018 bln (expected surplus of AUD2.190 bln; last surplus of AUD1.383 bln). May Imports 2.6% m/m (last 0.2%) and Exports -6.9% m/m (last 7.2%)
  • New Zealand's May Building Consents -4.0% m/m (last 11.1%)

---Equity Markets---

• Japan's Nikkei: -2.5%
• Hong Kong's Hang Seng: +0.8%
• China's Shanghai Composite: -2.0%
• India's Sensex: +0.8%
• South Korea's Kospi: -7.9%
• Australia's ASX All Ordinaries: UNCH

---FX---

• USD/JPY: -0.7% to 161.44
• USD/CNH: UNCH at 6.7934
• USD/INR: +0.2% to 95.39

• Reports Q3 (May) earnings of $1.53 per share, $0.39 better than the FactSet Consensus of $1.14; revenues fell 5.2% year/year to $160.76 mln vs the $157.8 mln FactSet Consensus.
• Co's commentary on outlook
  • "In the U.S., irrigation market conditions remain soft as growers await further trade certainty and an improvement in commodity prices. We expect Brazil to return to growth due to the solid drivers of secular demand that support investments in irrigation, although credit constraints and high interest rates could remain a headwind. We will continue delivery of the irrigation project in the MENA region and we expect to recognize approximately $70 million of revenue for the project in our current fiscal year. We will take further actions to align our cost structure with current demand levels to protect margins and support future earnings as demand rebounds."
  • "In infrastructure, we anticipate continued growth in road safety products and while we continue to actively manage a robust pipeline of Road Zipper System projects, we do not expect to deliver a large project in fiscal 2026."

• Ring Energy paid down $66 mln of debt during Q2 using proceeds from its recent equity offering and operating cash flow, reducing outstanding borrowings under its revolving credit facility to $360 mln.
  • The company's borrowing base was reaffirmed at $585 mln following its semiannual redetermination, with the next review scheduled for fall 2026.
  • Liquidity increased about 41% to $226.1 mln at June 30 from $160 mln at the end of Q1.
• Ring also amended its credit facility to eliminate the 10-basis-point SOFR credit spread adjustment, improving borrowing costs.

• Gapping up:
  • FIZZ +7.6%, HCM +5.1%, ABVX +4.4%, AVAV +3.5%, TEN +3.2%, KODK +2.7%, NBIX +2.4%, AZN +2.1%, REZI +1.6%, NVS +1.5%, QXO +1.4%, LEU +1.3%, TAK +1.2%, GMAB +1.1%, XRAY +1%, BTGO +1%, IQ +1%
• Gapping down:
  • ELTX -22.4%, FC -21.2%, OUST -6.7%, CVEO -5.2%, CWT -4.1%, FPS -2.1%, GRDN -2%, CMCO -1.9%, GBX -1.8%, APOG -1.5%, AEO -1.4%, JBIO -1.4%, DOLE -1.3%, GVA -0.9%, FRMI -0.9%

• United Therapeutics acquired privately held Thymmune Therapeutics, adding a preclinical regenerative thymic cell therapy platform focused on immune restoration.
  • The deal includes $140 mln in cash upfront, plus up to $160 mln in potential milestone payments tied to clinical and regulatory achievements through 2031.
  • The acquisition adds lead candidate THY-100, a preclinical therapy for congenital athymia, with broader potential applications in transplant tolerance, autoimmune diseases, immunodeficiencies, and age-related immune decline.
  • UTHR said the acquisition complements its organ transplant and regenerative medicine strategy, including its UThymoKidney program, by expanding its immunomodulatory capabilities.

• These data supported the recent U.S. Food and Drug Administration (FDA) approval of BIZENGRI (zenocutuzumab-zbco) for the treatment of adults with advanced unresectable or metastatic cholangiocarcinoma harboring an NRG1 gene fusion with disease progression on or after prior systemic therapy. The approval was expedited by PTx's receipt of a Commissioner's National Priority Voucher (CNPV) underscoring the urgent unmet need in this patient population.
• BIZENGRI is a registered trademark of Merus B.V., a wholly owned subsidiary of Genmab A/S. Under an agreement with Merus, PTx has exclusive rights to develop, manufacture, and commercialize zenocutuzumab-zbco for the treatment of NRG1+ cancer in the U.S. and provide the product on a named-patient basis for this use outside of the U.S. pending future regulatory developments.

• Co announced that it has entered into a non-binding Memorandum of Understanding with AUTHAIKAM COMPANY LIMITED, a Thailand-based company, to jointly evaluate a potential artificial intelligence (AI) computing center project in Thailand.
• Under the terms of the MOU, the parties will collaborate on preliminary evaluation activities, including information exchange, site visits, land and power assessments, due diligence, and discussions related to potential project development.
• The contemplated project, if pursued, may include a planned power capacity of up to approximately 100 megawatts. The project remains in an early evaluation stage, and the Company has not made any decision to proceed with development or commit any capital investment.
• The MOU is non-binding, except for customary provisions including confidentiality, compliance, governing law, and dispute resolution. Any future project or transaction will be subject to satisfactory due diligence, commercial and technical feasibility, internal approvals, financing arrangements, and applicable regulatory requirements, etc.

• Co has reached an agreement to acquire Gulf Coast Ammonia's ammonia production facility in Texas City, Texas from GCA Holdings LLC, affiliated with Lotus Infrastructure Partners and MB Energy for a consideration of USD 1.3 billion.
• The USD 1.3 billion consideration increases Yara's total capex outlay for 2026 to USD 2.5 billion and is within the expected capex allocated for ammonia investments 2026-2030 at our Capital Markets Day in January 2026. As of 1Q 2026, Yara reported a strong balance sheet with Net debt/EBITDA of 1.00. This acquisition implies a pro forma Net Debt/EBITDA1 of 1.73 including dividend payment made in May, remaining within the limits of Yara's capital allocation policy.
• Yara reiterates its capital allocation framework for 2026-2030 targeting average annual capex spend of 1.2 BUSD in real terms, strict capital discipline and shareholder returns in line with its dividend policy. While this acquisition brings forward part of the anticipated growth capex for the next years, it also accelerates the associated cash flows from new ammonia capacity. Further growth investments over the period will be limited and focused on selective high return opportunities.

• The collaboration is designed to bring together VEON's local digital platforms, customer reach, data-driven capabilities and emerging VEON Digital Finance strategy with Mastercard's global payments network, technology and financial services expertise.
• Together, the organizations intend to explore the development of a generation of financial services, including AI-powered credit scoring, embedded finance and digital wallets, subject to applicable regulatory requirements.
• The solutions will also provide merchant services, loyalty and remittances for consumers, small businesses and enterprises across VEON's markets.
  
  

• Symbotic Inc. (SYM) announced the acquisition of ARMS Innovations Ltd., a UK-based software company specializing in real-time operational intelligence solutions for complex automated warehouse environments. The acquisition marks a significant strategic milestone in Symbotic's mission to transform supply chain operations by advancing a new industry category: Warehouse Operations Optimization. By integrating ARMS's advanced software capabilities, the Symbotic System will expand beyond industry-leading automation into a comprehensive, real-time operational solution that unifies and optimizes every element of warehouse performance -- across both automated systems and human workflows.
• Cognizant (CTSH) and Domyn, the European leader in sovereign AI infrastructure for regulated industries, have announced a strategic partnership to bring sovereign AI capabilities to enterprises across the EMEA region. The partnership will help organisations in highly regulated sectors deploy powerful AI solutions that keep data within client-controlled environments and support compliance with European regulatory frameworks.
• Intesa Sanpaolo Group announced that it has successfully completed the cloud migration of its core IT systems, a landmark digital transformation project carried out in collaboration with TIM and Google (GOOG, GOOGL) Cloud. The initiative, created to make the bank's IT infrastructure faster, more secure, AI-ready, and more sustainable, has met and exceeded its technical targets.
• Stellantis (STLA) Pro One arrives at IAA Hannover with a bold and distinctive presence, addressing the evolving needs of industry professionals through one of the most comprehensive commercial vehicle line-ups on the market. With 1,000 sqm of exhibition space, 13 vehicles on display and four professional brands represented, Stellantis Pro One is setting the stage for a world premiere poised to redefine urban delivery through a customer-centric approach to more efficient and sustainable last-mile logistics.

• Mitsubishi Electric (MIELY) and Infostellar Inc., a provider of cloud-based ground station services for satellite operators, jointly announced today that Mitsubishi Electric acquired all shares of Infostellar on July 1, making Infostellar a wholly owned subsidiary. Through their collaboration, the two companies aim to expand ground station services for satellite operators, the demand for which is growing rapidly worldwide. Diverse services using small satellite constellations are increasing, rapidly growing the need for private-sector companies to develop and provide ground station networks needed to operate satellite-based services.
• CoStar Group (CSGP) announced the official launch of the CoStar platform in France -- bringing its commercial real estate intelligence platform to one of Europe's largest markets. The launch builds on CoStar Group's acquisitions of BureauxLocaux and Business Immo and significant investment in local proprietary research to create one of the most comprehensive commercial property databases ever built for the French market.
• TotalEnergies (TTE) announced the divestment to INPEX of its 85% interest in Block 2E offshore Malaysia, representing a net interest of 8.5% in the Marjoram gas field currently under development, for a consideration of $350 million. Through this transaction, TotalEnergies crystallizes the full value of this minority interest in a non-operated gas project, to focus on its operated portfolio and strategic growth opportunities in Malaysia.
• NiCE (NICE) announced that Sopra Steria, a major European technology leader with 50,000 employees across 30 countries, is advancing its service center operations with NiCE's leading CX AI platform, CXone, bringing agentic AI-powered assistance to its agent workforce and delivering measurable improvements in efficiency, service quality, and customer experience. With the deployment of CXone, Sopra Steria reaffirms its commitment to sustainably modernize its services and strengthen operational excellence across its platform.

• UFC, part of TKO Group Holdings (TKO), announced that UFC 325: VOLKANOVSKI vs. LOPES 2, which took place earlier this year at Sydney's Qudos Bank Arena, sparked significant economic impact, generating AUD $65.7M* throughout the Sydney metro area. In the main event, Australia's own Alex Volkanovski defeated Diego Lopes to retain the undisputed UFC Featherweight Championship. UFC 325 drew a sold-out crowd of 18,102 and set the Qudos Bank Arena gate revenue record with AUD $14.4M, making it the highest-grossing event at any indoor arena in Australian history and eclipsing the record established by UFC 312: DU PLESSIS vs. STRICKLAND 2 in February
• National Healthcare Corporation (NHC) completed the acquisition of the real estate of thirty-two skilled nursing facilities and three independent living facilities from National Health Investors, Inc. and its affiliates for a $560 million purchase price. NHC, through affiliates, had been leasing and operating these facilities under a Master Agreement to Lease with NHI originally entered into in 1991.
• Solid Power (SLDP) announced the appointment of Uwe Breitweg, Vice President Powertrain, Emission and Battery Strategy of the BMW Group (BMWKY), to its board of directors, effective July 1, 2026. His appointment underscores BMW continuing to work very closely together with Solid Power as a strategic development partner in this future key technology.
• Civeo Corporation (CVEO) announced that one of its Western Canadian based joint ventures has been awarded a six-year contract renewal in Western Canada to continue providing workforce accommodations and hospitality services. The new agreement extends through June 30, 2032, superseding existing arrangements that were scheduled to expire in 2027. Under the renewed agreement, the joint venture will provide safe, reliable and scalable workforce accommodation services across Civeo's network of lodges in Western Canada.

• Abivax announced the underwriters fully exercised their option to purchase an additional 960,000 American depositary shares, increasing the size of its previously announced offering.
  • Co expects to issue a total of 7.36 mln ADSs, raising gross proceeds of approximately $920 mln (807 mln) and estimated net proceeds of approximately $874 mln (767 mln).
  • Co plans to use the proceeds to support the potential U.S. commercialization of obefazimod, fund clinical development programs in ulcerative colitis and Crohn's disease, and for general corporate purposes.
• The offering is expected to close on July 6, 2026.

• Bayer is consolidating its U.S. glyphosate business into a new wholly owned entity, Ruveon LLC, as part of its Crop Science division's Five-Year Framework.
  • Co said Ruveon will oversee all U.S. glyphosate operations, including pricing, commercial strategy, production, and logistics, while continuing to supply Roundup-branded and other glyphosate products.
  • The move is intended to improve the competitiveness, resilience, and profitability of Bayer's U.S. glyphosate business through a more specialized operating structure.
  • Alfonso Alba Ordez has been appointed chief executive officer of Ruveon.

• Vertex announced the FDA approved expanded use of CASGEVY for patients ages 2 years and older with sickle cell disease or transfusion-dependent beta thalassemia.
  • Co said the label expansion makes CASGEVY the first approved genetic therapy for children as young as 2 with either disease, adding approximately 5,500 eligible pediatric patients in the U.S.
  • CASGEVY was previously approved for patients ages 12 and older with sickle cell disease or transfusion-dependent beta thalassemia.
• Additionally, Co said regulatory reviews for the expanded indication are also underway in Saudi Arabia and the United Kingdom.

• AstraZeneca entered a strategic collaboration with Abbisko Therapeutics to evaluate TAGRISSO in combination with Abbisko's investigational oral PD-L1 inhibitor lumipodlin (ABSK043) for EGFR-mutated, PD-L1-positive advanced non-small cell lung cancer.
  • The companies will jointly support a multicenter Phase I/II trial, with Abbisko leading the study following Chinese regulatory clearance of the investigational new drug application in May.
  • The combination is designed to address an unmet need in patients whose tumors harbor EGFR mutations and high PD-L1 expression, a population that may derive less benefit from EGFR-targeted therapy alone.
• TAGRISSO is AstraZeneca's third-generation EGFR tyrosine kinase inhibitor and the current standard-of-care treatment for EGFR-mutated non-small cell lung cancer.

• Madrigal Pharmaceuticals and Ribo Life Science achieved the first candidate drug nomination milestone under their collaboration to develop siRNA therapies for metabolic dysfunction-associated steatohepatitis (MASH).
  • Co said the milestone triggers the immediate start of IND-enabling studies to support planned clinical development.
  • The collaboration includes multiple preclinical liver-directed therapeutic candidates targeting MASH and other liver diseases.

• Telix Pharmaceuticals said the FDA agreed that Part 1 safety data support advancing the U.S. portion of Part 2 of the Phase 3 ProstACT Global trial evaluating TLX591-Tx in metastatic castration-resistant prostate cancer.
  • Co also reached agreement with the FDA on the Part 2 clinical protocol, statistical analysis plan, and ongoing safety monitoring framework.
  • Telix plans to submit an investigational new drug amendment to begin Part 2 enrollment in the U.S., while recruitment continues in regions where the study has already been approved.
• TLX591-Tx is being evaluated in combination with standard-of-care therapies, including abiraterone, enzalutamide, and docetaxel.

• Takeda entered a strategic collaboration with Insilico Medicine to use Insilico's Pharma.AI platform to discover novel drug candidates across Takeda's therapeutic areas.
  • Co said the collaboration supports its transition to an AI-native drug discovery model by combining generative AI, automation, and robotics with Takeda's disease biology expertise.
  • Insilico will lead AI-driven molecule discovery, while Takeda will advance selected candidates through clinical development.
• Under the agreement, Insilico is eligible to receive up to approximately $600 mln in upfront, milestone, and commercial payments, plus tiered royalties on future sales.

• Elicio Therapeutics entered into a securities purchase agreement for a registered direct offering expected to raise approximately $15 mln in gross proceeds.
• Co is selling approximately 4.38 mln shares of common stock to new institutional investors and an existing shareholder.

• Novartis announced the European Commission approved Itvisma for the treatment of spinal muscular atrophy in children ages 2 and older, adolescents, and adults with bi-allelic SMN1 mutations.
  • Co said Itvisma is the first gene replacement therapy approved in the European Union for this broad patient population and provides a one-time treatment option.
  • The approval was supported by data from the registrational STEER study, which demonstrated a statistically significant improvement in motor function, along with supportive results from the STRENGTH and STRONG trials.
• The decision expands Novartis' gene replacement therapy portfolio, making its treatments eligible for patients with spinal muscular atrophy across all age groups in the European Union.

• Roche announced its Phase III Krascendo 1 trial met its primary and key secondary endpoints, with investigational KRAS G12C inhibitor divarasib demonstrating statistically significant improvements in progression-free and overall survival versus approved KRAS G12C inhibitors in previously treated non-small cell lung cancer.
  • Co said divarasib outperformed Sotorasib and Adagrasib in the head-to-head study, with no new safety signals observed.
  • Roche plans to present the data at an upcoming medical meeting and submit the results to regulatory authorities to support potential approvals.
• Divarasib has received FDA Breakthrough Therapy and Orphan Drug designations for KRAS G12C non-small cell lung cancer.

• HUTCHMED announced China's National Medical Products Administration granted conditional approval for ORPATHYS to treat previously treated patients with MET-amplified advanced gastric cancer or gastroesophageal junction adenocarcinoma.
  • Co said ORPATHYS is the first selective MET inhibitor approved in China for this patient population.
  • The approval is supported by a pivotal Phase II study in which ORPATHYS achieved a 32.3% objective response rate, exceeding the trial's pre-specified efficacy threshold.

• iQIYI appointed Ying Tian as chief financial officer, effective immediately, succeeding interim Chief Financial Officer Ying Zeng.
  • Co said Zeng will resume her previous role as senior vice president of finance.
• Tian most recently served as chief financial officer and head of finance for Baidu AI Cloud Group and previously held finance leadership positions at Baidu Intelligent Driving Group and Huawei Technologies.

• Markets are turning cautious ahead of the June employment report, with a sharp selloff in Asian chipmakers rattling AI sentiment while investors look to the labor market for the next clue on interest rates. The S&P (Sep) is down about 7 points, trading around 7537. Resistance around the 7550 level kicked in early as the high of 7550.75 was set at the beginning of the Asian session. Spoos hit a low of 7510.50 shortly after Europe opened, then bounced to the current level.
• Asian markets finished mixed on Thursday, with Japan and mainland China retreating sharply on renewed technology selling, while Hong Kong rebounded on bargain hunting. South Korea's Kospi plunged 7.9% after AI-related chipmakers came under heavy pressure, with SK Hynix tumbling more than 14% and Samsung Electronics falling over 9%, reinforcing concerns that investors are reassessing the sustainability of the AI trade. Japan's Nikkei 225 fell 2.47%, snapping a three-day winning streak, with Kioxia Holdings (-13.5%), Advantest (-10.0%), Taiyo Yuden (-10.0%), Fujikura (-7.9%), and Tokyo Electron (-7.4%) leading the decline, while Mitsubishi UFJ (+1.8%), Mizuho Financial (+2.0%), and Toyota Motor (+2.5%) outperformed. In China, the Shanghai Composite dropped 2.03%, and the Shenzhen Component tumbled 3.85%, ending recent advances as investors questioned stretched AI valuations and reacted to reports that Apple is considering sourcing memory chips from Chinese suppliers, raising the prospect of renewed US-China technology tensions. Technology stocks led the mainland selloff, including Eoptolink Technology (-11.6%), NAURA Technology (-10.0%), Hygon Information Technology (-7.9%), Cambricon Technologies (-7.6%), SMIC (-6.7%), and Zhongji Innolight (-6.6%). Hong Kong's Hang Seng Index rose 0.8%, supported by bargain hunting and renewed optimism surrounding long-term AI growth, with Xiaomi (+4.2%), Meituan (+3.1%), Innovent Biologics (+7.0%), AIA (+1.4%), and Tencent (+0.1%) helping lift the benchmark.
• European markets trade mostly higher on Thursday, supported by easing inflation concerns, encouraging comments from central bankers at the ECB Forum in Sintra, and signs of progress in US-Iran talks, though technology shares remain under pressure. Germany's DAX 40 rises toward 25,100, extending its winning streak to three sessions, with Bayer surging more than 4% after announcing a restructuring of its US glyphosate business and receiving a Deutsche Bank upgrade, while banks, automakers, and telecom names advance; however, Infineon Technologies, Hochtief, and Siemens Energy each fall more than 2% amid continued selling in AI-related stocks. France's CAC 40 gains 0.6%, helped by easing inflation risks and a narrower state budget deficit, while luxury names including Kering (+1.7%), LVMH (+1.4%), and Herms (+0.4%) move higher, and Sodexo jumps nearly 7% after raising its full-year organic revenue growth forecast. The UK's FTSE 100 climbs 0.5%, thanks to its limited technology exposure, with AstraZeneca (+2.0%), GSK (+1.9%), British American Tobacco (+1.8%), Unilever (+1.5%), and BAE Systems (+1.5%) leading gains. Corporate news also supports sentiment, with Capricorn Energy rallying after agreeing to a 271 million takeover by Genel Energy, CMC Markets advancing on stronger guidance and an analyst upgrade, and Currys announcing a 50 million share buyback, while Rio Tinto and Glencore edge lower.

Market Updates

• S&P Futures: -7.0
• 10 yr Note: 4.497% +0.012
• USD/JPY:  161.25   -1.35
• EUR/USD: 1.1411 +0.0032
• Europe: FTSE: +0.5% DAX: +0.5% CAC: +0.6%
• Asia: Hang Seng: +0.8%  Shanghai: -2.0%  Nikkei: -2.5%
• Gold (4081.40 -1.00) Silver (60.405) Crude (67.51 -1.07)

• Co announces that it has signed a contract to finalize the terms of the competitively-awarded, $900 million task order it received from the U.S. Department of Energy earlier this year. The award will support deployment of large-scale production capacity for High-Assay, Low-Enriched Uranium (HALEU) as part of Centrus' multi-billion-dollar capacity expansion that will include Low-Enriched Uranium (LEU) as well as HALEU.
• With its large-scale expansion underway, Centrus is transitioning from the old demonstration contract to commercialization with the newer, larger enrichment contract. The first new capacity is expected to come online by 2029. In the interim, Centrus intends to privately operate the existing HALEU cascade on a commercial basis to begin supplying the near-term needs of its customers. Centrus is working with the Department on agreements to enable that transition, including a long-term lease extension for the American Centrifuge Plant in Piketon, Ohio.
• The new, fixed-price HALEU Enrichment contract calls for Centrus to deploy commercial-scale HALEU production capacity in Piketon. It also includes options, at the Department's discretion, for up to $170 million in HALEU purchases for Departmental missions, the total contract value with all options included is $1.07 billion.

• Paragon granted the Company a royalty-bearing, worldwide, exclusive and sublicensable license to use, make, sell, import, export and otherwise exploit certain monospecific antibodies and products targeting an undisclosed target in the field of prophylaxis, palliation, treatment and diagnosis of human disease and disorders in all therapeutic areas.
• Under the terms of the JADE301 License Agreement, the Company is obligated to pay Paragon up to $22.0 mln based on specific development and regulatory milestones, including a $1.5 mln fee for nomination of a development candidate, which was paid in January 2026, and a further milestone payment of $2.5 mln upon the first dosing of a human patient in a Phase 1 trial.
  • On a product-by-product basis, the Company is obligated to pay sublicensing fees of up to approximately $20.1 mln, mainly upon the achievement of commercial milestones.
  • The Company will pay Paragon a low to mid-single-digit percentage royalty based on annual net sales of monospecific products in the Field and in the territory, and a mid-single-digit percentage royalty based on annual net sales of multispecific products in the Field and in the territory, subject to a 30% reduction if there is no valid patent covering the product in the country of sale.
  • On a country-by-country basis, the royalty term for a product ends on the later of (i) the twelfth anniversary of the date of first sale of a Company product or (ii) the expiration of the last-to-expire valid patent covering the product in the country at issue.
• Paragon will not conduct any new campaigns that generate monospecific antibodies targeting the Target in the Field for at least five years.

• Co announces the State Street SPDR Portfolio S&P 500 ETF (Ticker: SPYM) has been selected by the U.S. Department of the Treasury as the exclusive default ETF for Trump Accounts to provide broad exposure to the U.S. stock market while maintaining low expenses. Trump Accounts are a new national initiative designed to help children begin investing early and participate in long-term compound growth.

The acquisition was valued at $337 mln in cash and approximately 3.7 mln shares of Viper's Class A common stock, par value $0.000001 per share.

• Co announces that, in connection with the company's plan of complete liquidation and dissolution, its Board of Directors has declared an initial liquidating distribution, in the form of a special cash dividend, of $5.00 per share on Stratus' common stock, payable on July 20, 2026 to stockholders of record as of July 13, 2026.
• The Board also has unanimously approved the voluntary delisting of the company's common stock from The Nasdaq Stock Market and the subsequent voluntary deregistration of its common stock with the U.S. Securities and Exchange Commission in order to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended.

• Co announces day-one support for Robinhood Chain mainnet, enabling institutional clients to access secure wallet and custody infrastructure for a Layer 2 designed for financial services and tokenized real-world assets.
• Through the integration, BitGo clients can create wallets, manage keys, and support eligible ERC-20 assets on Robinhood Chain through BitGo's platform.

• Co announces that Keystone Bridge Partners, a Granite-led joint venture with Condon-Johnson & Associates, Inc., has been selected by the Regional Transportation Commission (RTC) of Washoe County to provide preconstruction services for the Keystone Avenue Bridge Replacement Project in Reno, Nevada. The project will be delivered using the Construction Manager at Risk (CMAR) method.
• Project Timeline: Preconstruction: Q2 2026 through Q1 2028; Major Construction: Q2 2028 through Q3 2029
• When the construction phase is awarded, the anticipated value will range from $50 million to $60 million.

• Co announces that Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, have released expanded historical datasets for FICO Score 10T, covering loan-level performance data from April 2013 through September 2025. The newly available datasets represent a significant milestone in the mortgage industry's transition to modernized credit scoring. The data enables lenders, investors, and housing finance stakeholders to evaluate the performance of FICO Score 10T using real-world, GSE loan-level information.

• The transaction closed as planned on July 1, 2026.
• West will continue to develop and manufacture all other versions of SmartDose, including SmartDose 10mL On-Body Delivery System, adaptive technology for larger volumes.

• The U.S. Treasury today announced that two BlackRock iShares exchange traded funds (ETFs) will be offered among the investment options available under Trump Accounts, a federal initiative designed to enable a generation of American children to begin building wealth from birth.
• BlackRock's iShares Core S&P 500 ETF (IVV) and iShares Core S&P Total U.S. Stock Market ETF (ITOT) offer diversified exposure to many of America's leading companies and the long-term growth potential of the U.S. economy. With expense ratios of 0.03%, both funds reflect BlackRock's longstanding commitment to making investing more affordable.

• Earnings/guidance gainers: None
• Earnings/guidance losers: FC -20.8%, GBX -1.8%

Stocks kicked off the third quarter on a relatively quiet note following a powerful second quarter for equities. The S&P 500 (-0.2%) and Nasdaq Composite (-0.7%) finished modestly lower after giving back earlier gains, while the DJIA finished on its flat line after touching another intraday record high. Despite a sharp pullback across semiconductor stocks, losses at the index level remained surprisingly contained as strength across several other mega-cap technology names and the broader market helped cushion the decline.

Semiconductor stocks paused after leading the market higher over the previous two sessions. The PHLX Semiconductor Index fell 6.3%, with weakness spanning memory names, chip equipment manufacturers, and AI infrastructure companies, suggesting the retreat was driven more by profit-taking than any single industry-specific development. Corning (GLW 220.70, -34.74, -13.60%) and KLA Corporation (KLAC 266.19, -35.52, -11.77%) finished among the S&P 500's weakest performers.

Despite the pressure on chipmakers, the broader technology complex proved far more resilient. The information technology sector (-1.8%) recovered from a steeper intraday decline as software stocks continued to outperform. The iShares Expanded Tech-Software ETF (IGV) climbed 3.0%, while Apple (AAPL 294.38, +5.02, +1.73%) and Microsoft (MSFT 384.28, +11.26, +3.02%) both posted solid gains.

Palantir Technologies (PLTR 125.73, +9.06, +7.77%) also outperformed after President Trump's latest financial disclosure showed he purchased between $100,000 and $250,000 worth of the company's shares. The Vanguard Mega Cap Growth ETF finished flat, underscoring the resilience across the market's largest growth stocks despite the sharp decline in semiconductor shares.

The communication services sector (+2.6%) finished with the widest gain, driven by Meta Platforms' (META 612.91, +49.62, +8.81%) surge after Bloomberg reported the company plans to build a cloud business that would sell access to AI computing infrastructure.

The consumer discretionary sector (+0.8%) also outperformed as Amazon (AMZN 241.70, +3.36, +1.41%), Tesla (TSLA 425.38, +4.78, +1.14%), and NIKE (NKE 43.06, +2.01, +4.90%) all finished higher. Nike's better-than-feared quarterly results helped reinforce investor confidence that the company's turnaround continues to make gradual progress despite management's cautious near-term outlook.

The financials sector (+2.1%) also posted broad-based gains. FactSet (FDS 245.55, +15.47, +6.72%) was among the sector's top-performing components after topping earnings expectations, while Coinbase Global (COIN 159.24, +13.05, +8.93%) and Robinhood Markets (HOOD 108.65, +8.37, +8.35%) advanced alongside a rebound in Bitcoin prices.

Elsewhere, the tone was more mixed. General Mills (GIS 37.77, +2.97, +8.53%) rallied after topping quarterly earnings expectations and issuing fiscal 2027 guidance that was broadly in line with estimates, though the consumer staples sector (-0.3%) still finished lower. Walmart (WMT 108.82, -4.44, -3.92%) remained under pressure after CNBC's David Faber reported that Cleveland Research issued a negative report citing slowing comparable sales and warning the retailer may need to lower prices to clear excess inventory.

Constellation Brands (STZ 136.88, -2.21, -1.59%) also declined despite beating earnings expectations and reaffirming its fiscal 2027 outlook.

The utilities sector (-1.1%) continued its recent underperformance, while the industrials sector (-1.1%) also lagged as Caterpillar (CAT 991.41, -73.49, -6.90%) pulled back from record highs.

Crude oil futures settled $0.83 lower (-1.2%) at $68.69 per barrel as Axios reported that the U.S. is attempting to persuade Iran not to impose tolls on shipping through the Strait of Hormuz. Bloomberg separately reported that traffic through the waterway has increased to roughly 10 million barrels per day with support from the U.S. military, easing concerns about disruptions to global energy supplies.

Outside the S&P 500, the Russell 2000 (-0.4%) slipped into negative territory after reaching another intraday record high, while the S&P Mid Cap 400 (-0.8%) finished lower.

Overall, today's session suggested that investors remain willing to rotate within technology rather than broadly reduce risk following a powerful second quarter for equities. The PHLX Semiconductor Index endured a sizeable decline, yet the Vanguard Mega Cap Growth ETF finished flat and the S&P 500 Equal Weight Index (+0.2%) outperformed its market-weighted counterpart, highlighting the market's resilience beneath the surface. As the third quarter gets underway, today's action suggests the broadening in market participation remains intact even as leadership continues to evolve.

U.S. Treasuries extended this week's losses during the first session of July, though intraday action was largely confined to a sideways range near rebound highs. The 2-year note yield settled up two basis points to 4.16%, and the 10-year note yield settled up six basis points to 4.48%. 

• Russell 2000: +21.4% YTD
• S&P Mid Cap 400: +15.6% YTD
• Nasdaq Composite: +12.0% YTD
• S&P 500: +9.3% YTD
• DJIA: +8.8% YTD

Reviewing today's data:

• Weekly MBA Mortgage Applications Index 0.0%; Prior 1.0%
• June ADP Employment Change 98K (Briefing.com consensus 112K); Prior 122K
• June S&P Global U.S. Manufacturing PMI - Final 53.9; Prior 55.7
• May Construction Spending 0.1% (Briefing.com consensus 0.5%); Prior was revised to 0.3% from 0.4%
  • The key takeaway from the report is that public construction spending was the driver of the modest growth in total construction spending in June. Private construction spending activity was disappointing.
• June ISM Manufacturing Index 53.3% (Briefing.com consensus 53.8%); Prior 54.0%
  • The key takeaway from the report is that there was a general slowdown indicated versus May across most components of the report, yet the slowdown that will matter most is the one seen in the prices index, which is still quite high but nonetheless moving in the preferred direction.

• Reports Q3 (May) earnings of $0.60 per share, in-line with the FactSet Consensus of $0.60; revenues fell 31.6% year/year to $576.5 mln vs the $612.69 mln FactSet Consensus.
  • New railcar orders for 2,200 units valued at $340 mln and deliveries of 3,600 units, resulting in a new railcar backlog of 13,800 units with an estimated value of $2.0 billion as of May 31, 2026.
• Co issues guidance for FY26, co lowers FY26 EPS guidance to $3.00-3.15 from $3.00-3.50 and vs. $3.12 FactSet Consensus; reaffirms FY26 revs of $2.40-2.50 bln vs. $2.53 bln FactSet Consensus.
  • Co narrows FY26 guidance for deliveries to 15,650-15,850 units from 15,350-16,350 units.
  • Co lowers FY26 gross margin guidance to 13.8-14.2% from 14.8-15.2%.

• The Company announces the appointment of Mark Aspinall as Head of its new Fine Art & Specie team, effective January 2027.
  • He will be responsible for establishing SiriusPoint's new Fine Art & Specie offering and building a disciplined portfolio across high-value asset risks. This includes fine art institutions, galleries, private collections, luxury retailers, auction houses, and secure transportation providers.

• The Palm Mutual system serves an estimated 250 residents through 63 residential customer connections and is located just two miles from Cal Water's Northeast Bakersfield Treatment Plant. Cal Water already serves Palm Mutual through a master meter interconnection, since Palm Mutual did not own or operate its own sources of supply. Cal Water plans to upgrade the system's infrastructure over time to help support long-term water quality and reliability.
  

• The Company sold reverse mortgage servicing rights comprised of approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.2 billion as of May 31, 2026. Onity Mortgage will subservice the reverse MSRs sold to FAR under a three-year subservicing agreement.
• Additionally, FAR acquired Onity Mortgage's pipeline of reverse mortgage loans as of the closing date and the Company has ceased originating reverse mortgages.
• Net proceeds from the transaction are expected to be $70 to $80 million. The Company intends to use the net proceeds to support growth, reduce debt and for other corporate purposes.

• Securitize Corp, the world's leading tokenization platform with over $4 billion in assets brought onchain, announces the successful completion of the previously announced business combination with Cantor Equity Partners II, Inc.
• Securitize's common stock will commence trading on the New York Stock Exchange ("NYSE") under the ticker symbol SECZ on July 2, 2026.

• Co announces that after 25 years of service, Mike Mathias, Executive Vice President - Chief Financial Officer will transition to serve as a full-time non-executive strategic advisor to Jay Schottenstein, Executive Chairman of the Board and Chief Executive Officer, effective August 3, 2026.
• Ravi Thanawala will succeed Mathias as Executive Vice President - Chief Financial Officer, also effective August 3, 2026. To ensure a seamless leadership transition, Mathias will collaborate closely with Thanawala through the remainder of AEO's 2026 fiscal year and continue supporting Schottenstein through July 30, 2027.
• Ravi Thanawala was appointed the Chief Financial Officer and President, North America of Papa John's International (PZZA) in November 2025 after serving as Chief Financial Officer and EVP, International since September 2024.
• In addition, AEO today reaffirmed its second quarter and full-year 2026 financial guidance.
  • Q2 Outlook: Co sees Q2 comparable sales up mid-to-high single digits comparable.
  • Full Year Outlook: Co sees comparable sales up mid-single digits.

• Co announces the order of a second LNG carrier at Hyundai Heavy Industries in South Korea, with expected delivery in 1Q29.
• With this order, TEN's newbuilding program reaches 20 vessels, the first of which, the Anfield DP, a DP2 Shuttle tanker, is scheduled for delivery in late July 2026.

The transaction, valued at up to $115 mln, was completed following satisfaction of customary closing conditions.

• Co announces investment activity for the three and six months ended June 30, 2026.
• During the three and six months ended June 30, 2026, the company acquired four shopping centers for a combined purchase price of $164.3 mln.
• "We've remained focused on putting capital to work in markets we know best, buying assets where we have conviction in both near-term opportunity and long-term upside," commented Mark T. Horgan, Executive Vice President and Chief Investment Officer. "These acquisitions build on our clustering strategy and provide us additional pathways to create value over time through leasing, reinvestment, and densification."

• Co announces that it has finalized the sale of all its 2025 Section 45Z Clean Fuel Production and Small Producer Tax Credits to Freepoint Commodities. The credits stem from low-carbon biodiesel produced at the company's Batesville facility.
• The transaction generates roughly (before broker fees and transaction costs) $3 million in cash proceeds for 2025, meeting management's prior guidance.
• Additionally, FutureFuel has committed to selling its 2026 tax credits, approximated at $19 million, to Freepoint. By structuring the sale of the credits with one party, the net cost to FutureFuel is minimized.

• The Board also has set a record date of July 20, 2026 and a distribution date of August 3, 2026, in connection with the Spin-Off.
• To execute the Spin-Off, Resideo will distribute all of the issued and outstanding shares of ADI Global Distribution Inc. common stock pro rata to Resideo common shareholders of record on the Record Date.
  • The distribution will occur at 5:00 p.m., eastern time, on August 3, 2026, on the basis of a distribution ratio of one share of ADI common stock for every two shares of Resideo common stock held as of the close of business on the Record Date.
• Following the distribution, ADI common stock is expected to begin trading on the New York Stock Exchange on August 4, 2026, under the ticker symbol "ADIG."
  • Resideo will continue to trade on the NYSE under the ticker symbol "REZI."

• Co announces the initiation of its Phase 2 clinical study to assess the safety and tolerability of crinecerfont in children aged 3 months to under 4 years with classic congenital adrenal hyperplasia (CAH).
• Crinecerfont, marketed as CRENESSITY, is approved in the US as an adjunctive treatment to glucocorticoid replacement to control androgens in adult and pediatric patients 4 years of age and older with classic CAH.
• Separately, co achieved target enrollment for a Phase 2 study in the European Union to evaluate the safety and tolerability of crinecerfont in children from birth to under 2 years of age with classic CAH.

• Beginning in the third quarter of 2026, Naveris will be included in CareDx's consolidated financial results.

• Linker will report directly to David J. Wilson, Columbus McKinnon's President and Chief Executive Officer and succeeds Gregory P. Rustowicz.
• Most recently, Linker served as CFO of Husky Technologies Limited.

• Co announces the appointment of Andy Reding to the newly created role of Chief Operating Officer, effective Monday, July 6, 2026.
• Mr. Reding joins Inogen with more than 30 years of leadership experience across medical technology, commercial operations, product development, and healthcare reimbursement. Most recently, he served as Chief Commercial Officer of Viant Medical.

• Co announces that it has completed its acquisition of Passport Global Inc., a US-based cross-border e-commerce logistics and solutions company.
• The acquisition of Passport is expected to further strengthen Global-e's logistics capabilities, adding advanced standard shipping solutions powered by an efficient, asset-light, multi-carrier network across cross-border, domestic, and last-mile deliveries.

The acquisition deepens Lumine Group's presence across the Media supply chain domain.