The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1037 ET - GSK is poised to deliver growth in core earnings per share every year over the coming decade, as the loss of a key HIV patent should have less of an impact than many fear, Bernstein analysts say in a research note. The U.K. drugmaker is developing three new HIV products that should improve its sales prospects in the first half of the 2030s, according to Bernstein. The new products and the difficulty of manufacturing cabotegravir, the active ingredient in HIV drugs that is due to lose U.S. patents in 2029 and 2030, means the sales erosion from the patent should be less pronounced than expected, the analysts ay. Bernstein says it raises its core EPS forecast for GSK over the 2026-35 period by up to 25% and now projects growth every year. Shares rise 1.7%. (adria.calatayud@wsj.com)
1025 ET - Thyssenkrupp's planned partial listing of its materials services unit is a key near-term catalyst alongside portfolio monetization efforts, Bank of America analysts say in a research note. The German conglomerate will distribute 49% of the business to shareholders while retaining control, a structure broadly seen as similar to previous successful spinoffs such as Marine Systems, the analysts say. Such transactions have historically supported sentiment even when value migration into the listed subsidiary has been significant, they say. The analysts remain constructive, highlighting continued optionality from further portfolio actions across steel and automotive divisions. Shares trade 3.3% higher at 11.065 euros. (nina.kienle@wsj.com)
1016 ET - Gulf stocks extend losses as weak oil prices weigh. Lower oil prices are pressuring Gulf equities because government revenues, corporate earnings and broader economic activity remain closely linked to energy prices, says Mazen Abou Ismail, head of trading desk at FFA Private Bank Dubai. Expectations that interest rates will remain higher for longer also weigh on sentiment. Higher U.S. rates typically translate into tighter regional financial conditions because most Gulf Cooperation Council currencies are pegged to the dollar, he says. The Dubai Financial Market General Index falls 1.4%, Abu Dhabi's benchmark index drops 1.2%, Saudi Arabia's Tadawul All Share Index loses 0.7% and Qatar's QE Index slips 0.4%. (farhan.rafid@wsj.com)
1006 ET - Shares of European semiconductor companies are losing steam after the Nasdaq veered into negative territory. A strong set of earnings and outlook from Micron Technology had fueled expectations of a rally in tech stocks, but the Nasdaq turned red less than half an hour from its opening. Shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International both gained more than 5% earlier in the European session, but are now trading just above 1.5%. German chip maker Infineon Technologies was up over 6% and is now up 1.3%. STMicroelectronics shares were up more than 4% previously and are now up 0.1%. (mauro.orru@wsj.com)
0955 ET - JPMorgan views McCormick's F2Q print positively, even though results may not be as strong as headlines suggest. The spice maker posts adjusted EPS of 80 cents, ahead of the 69 cents Wall Street modeled. "The EPS beat was aided by a $28MM tariff refund," the analysts say in a research note, "though we estimate that EPS would have still beat by $0.03 without this tailwind." Looking ahead, McCormick backs its full-year outlook and says it continues to make progress on its proposed combination with Unilever, expecting to deliver "several key transaction milestones" related to the merger in the coming months. McCormick rise 4.6%. (connor.hart@wsj.com)
0929 ET -- Darden Restaurants says it expects growth to slow over the coming year. The owner of LongHorn Steakhouse and Olive Garden guides for same-restaurant sales to climb 2.5% to 3.5% over the coming year. That would be in line with analyst estimates for a 2.9% increase, though it would be below the 4.5% gain the company logged last year. Darden's same-restaurant sales growth has been largely driven by its LongHorn Steakhouse banner, which outperformed expectations during the latest quarter. Slowing growth across its Olive Garden brand, though, has weighed on performance. Shares are off 3.7% shortly ahead of Thursday's opening bell. (connor.hart@wsj.com)
0924 ET - Apple raises prices of its Macs and iPads, as it faces soaring costs for memory and storage chips. "We have now reached a point where we need to begin raising prices," Apple says in a statement. "We have never seen a component price increase this much, this quickly." Among price increases, the base MacBook Air rises $200 to $1,299; the base MacBook Pro increases $300 to $1,999; and the entry-level MacBook Neo increases $100 to $699. The iPad Air increases $150 to $749, and the iPad Pro increases $200 to $1,199. As of now, iPhone prices are unchanged. (connor.hart@wsj.com)
0920 ET - Bitcoin rises after a key U.S. inflation measure came in line with expectations. The core personal consumption expenditures price index--the Federal Reserve's preferred inflation gauge--rose 3.4% year-on-year in May, as forecast by economists in a WSJ survey. The data comes as oil prices fall to prewar levels and are expected to reduce inflationary pressures. Separate U.S. data showed lower-than-expected weekly jobless claims of 215,000 while the third estimate of first-quarter gross domestic product was revised up to an annual rate of 2.1% from 1.6% previously. Durable goods fell 4.5% in May, more than expected. Bitcoin rises to $61,598 from $61,032 before the data, LSEG data show.(renae.dyer@wsj.com)
0851 ET - Marianne Lake, chief executive of JPMorgan Chase's Consumer and Community Banking unit, has decided to retire after more than 25 years with the company. Lake had long been considered a potential successor for Chief Executive Jamie Dimon. Her departure comes as JPMorgan names Doug Petno and Troy Rohrbaugh as co-presidents of the company. Petno will additionally become sole CEO of JPMorgan's Commercial & Investment Bank, while Rohrbaugh will assume the top role of the company's Consumer and Community Banking arm, which was run by Lake. JPMorgan says Lake will work with Rohrbaugh and other senior executives over the coming weeks to help ensure a smooth transition. (connor.hart@wsj.com)
0845 ET - JPMorgan Chase names Doug Petno and Troy Rohrbaugh as co-presidents of the company, laying the groundwork to find candidates to succeed Chief Executive Jamie Dimon. "The changes announced today mark an important step in our Board's thoughtful process around succession planning and development of our top leaders," Dimon says in a statement. In addition to their new roles, Petno will become sole CEO of JPMorgan's Commercial & Investment Bank, and Rohrbaugh will assume the top role at Consumer and Community Banking. "The decision to elevate Doug and Troy to Co-Presidents and heads of the company's two largest businesses reflects the Board's confidence in their extraordinary leadership capabilities, business performance, relationships, experience and commitment to always doing the right thing," Dimon says. (connor.hart@wsj.com)
0817 ET - Fresenius Medical Care investors might be disappointed by a smaller-than-expected increase in 2027 payment rates proposed by the U.S. Centers for Medicare & Medicaid Services, UBS analysts say in a research note. The CMS on Wednesday said it proposed to increase payments to facilities where Medicare beneficiaries with end-stage renal disease get dialysis services by 1.1% next year. The proposed raise for the base rate is roughly half of what investors likely anticipated and well below prior years, according to UBS. Shares in Fresenius Medical Care fall 2.8%. (adria.calatayud@wsj.com)
0806 ET - The Japanese yen falls to its lowest level against the dollar since July 2024 amid growing bet the Federal Reserve will raise interest rates. Kevin Warsh's first Fed meeting as chair last week reinforced the central bank's focus on inflation, Capital.com's Daniela Hathorn says in a note. While no immediate rate rise was signalled, investors continue to price a meaningful probability of tightening later this year, she says. "That widening policy divergence has weighed on currencies such as the euro and the yen, even after both the European Central Bank and Bank of Japan raised rates." The dollar rises to as high as 161.94 yen. A move above 161.99 would mark the highest in nearly 40 years. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 25, 2026 10:37 ET (14:37 GMT)
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