The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1341 ET - United Airlines is better positioned than most airlines to withstand shocks, according to Melius Research in a note. While the recent increase in fuel costs will weigh on United's ability to beat Wall Street's expectations, the airline is in a particularly solid spot compared with the rest of the industry, analysts Conor Cunningham and Patrick Coleman say. They think United can still reach margins in the double-digit percentage range in 2027, given the company's strong revenue and the analysts' belief that airlines will "hold the line" on pricing. "United continues to prove that significant investment in its product, network, customers, and culture is a winning strategy," they say. (katherine.hamilton@wsj.com)
1332 ET - The plight of Strategy's STRC stock offering, which is trading around $86.00 today, looks less dire following Strategy's reveal of its Digital Credit Capital Framework late last month. STRC is supposed to be pegged around $100, but dipped to under $75 in June as bitcoin prices fell below the $60k mark. The company has since been able to reverse diminishing capital reserves, according to a research note from Julio Moreno of CryptoQuant. But the work isn't done for Strategy, says Moreno as he calls for both a "systematic, model-driven approach" to buying bitcoin in the future, as well as a plan to sell some of its treasury in the advent of a bull market. Strategy is currently sitting on 843,775 BTC, which is worth roughly $56.4B as of today. (kirk.maltais@wsj.com)
1223 ET - Investors waiting for news on OpenAI's initial public offering will have to hold their breath for longer, OpenAI Chairman Bret Taylor says in a CNBC interview. "No update on IPO plans," Taylor says, reiterating the company's position when they filed confidentially with the SEC last month: "We're doing it so we have the option to do it when we want to, but we haven't made a specific plan to do it. There's a lot of things we want to do while we're private." (elias.schisgall@wsj.com)
1218 ET - OpenAI Chairman Bret Taylor denies that the company seeks out proprietary information from competitors, following a lawsuit by Apple claiming OpenAI employees stole its trade secrets. "We have no interest in other companies' trade secrets, period, full stop," Taylor says in a CNBC interview, adding that an investigation is underway and that he can't comment further. He does, however, tout OpenAI's move toward custom AI hardware. "Our focus on hardware is really simple: we just really want to achieve our mission, which is to ensure that artificial general intelligence benefits humanity," Taylor says. "I think it's really important to explore the form factor of that intelligence." (elias.schisgall@wsj.com)
1149 ET - Constellation Energy's venture arm invested an undisclosed amount in Blue Energy, a developer of financeable, prefabricated nuclear power plants. The move marks Constellation Technology Ventures' first investment in a U.S. nuclear developer advancing small modular reactors, Blue Energy says. "This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy," Blue Energy CEO Jake Jurewicz says. Constellation says it is committed to exploring ways that can accelerate the deployment of advanced nuclear technologies in the U.S. (kelly.cloonan@wsj.com)
1039 ET - Gold prices briefly drop below $4,000 despite weaker-than-expected U.S. inflation, as a flare-up in tensions between Washington and Tehran raises concerns over high energy prices. New York futures fall 1.2% to $4,002 a troy ounce after slipping to $3,977.10 an ounce earlier. "Persistently high energy prices would make it difficult for the Fed to adopt a more dovish stance," says Fawad Razaqzada from Forex.com. "That is one reason we're seeing the U.S. dollar regain a bit of momentum again today, particularly against currencies whose economies are heavily reliant on imported energy." The U.S. dollar index is up 0.1% to 100.64. (giulia.petroni@wsj.com)
1008 ET - Oil prices are little changed in early U.S. trade, with Brent crude hovering around $85 a barrel and WTI futures at $80 a barrel. "It feels to us that markets are still expecting that the disruption to flows will prove short-lived [...] but the perceived probability of a more extreme outcome has increased," says Neil Shearing from Capital Economics. A key reason prices have not moved significantly higher is that the departure of oil-laden tankers that had been stranded in the Strait of Hormuz for months has provided some near-term relief to supply concerns. Still, inventories cannot continue to absorb supply disruptions at their recent pace indefinitely, the chief economist says. If the strait remains closed for an extended period, oil markets could eventually reach a tipping point, triggering a sharp price spike to $120 a barrel or higher. (giulia.petroni@wsj.com)
0952 ET - Uber CEO Dara Khosrowshahi says his company's deal to buy Delivery Hero will open up markets that would have been difficult to compete in. Adding the German company will expand the number of markets where Uber offers both delivery and ride-share services, Khosrowshahi tells CNBC. "The positions that Delivery Hero has built in these markets are almost priceless," he says. "At this point it would be impossible for a player to start fresh and build that kind of asset." Khosrowshahi also sees roughly $1 billion in synergies with Delivery Hero, he says. (katherine.hamilton@wsj.com)
0922 ET - Evotec's profit warning this week exposed the extent to which the German drug-discovery company relies on contracts yet to be signed, which makes its future prospects uncertain, Berenberg analysts say in a research note. The guidance reset is a setback that pushes Evotec's near-term visibility to an all-time low, according to Berenberg. "It is highly surprising to see the sheer scope of uncontracted strategic partnerships, both old and new, and high-margin milestone assumptions that were originally baked into the FY 2026 outlook--in contrast to prior earnings call comments," the analysts say. Berenberg cuts its stock recommendation on Evotec to hold from buy, and slashes its target price to 3.60 euros from 9.40 euros. Shares fall 1.3% to 3.46 euros. (adria.calatayud@wsj.com)
0915 ET - Hikma Pharmaceuticals is shifting spending toward more differentiated assets, investing in U.S. manufacturing and sustaining momentum, which seem the right priorities for a recovery, analysts at Citi say in a research note. "We see Hikma as a business in strategic reset, with the right priorities across all three divisions, and we see the current valuation as providing a compelling entry point into this recovery thesis," the analysts say. The London-listed manufacturer of generic drugs is investing in a plant in Bedford, Ohio, to make its own products and for other companies under contract. Whether its finances can reach an inflection point will largely depend on whether Hikma delivers on its plan, the analysts add. Citi starts coverage of Hikma with a buy recommendation and a target price of 17 pounds on the stock. Shares rise 2.5% to 15.32 pounds. (adria.calatayud@wsj.com)
0829 ET - GE Aerospace says the availability of materials is causing disruptions to its operations, stalling production and delivery of equipment and services to customers. The jet engine maker says it has invested in its manufacturing facilities to try to increase production and yield, but it is also dealing with inflationary pressure that is driving up cost productivity and resulting in higher prices for its products and services. "We expect the impact of supply chain constraints and inflation will continue, and we are continuing to take action to mitigate the impacts," GE Aerospace says in its quarterly financial report. GE Aerospace declines 3% premarket. (katherine.hamilton@wsj.com)
0739 ET - Bitcoin declines as U.S. stock futures mostly fall, led by the tech-heavy Nasdaq index. "Equity markets are in whipsaw mode again, with chip stocks driving much of the volatility as the tech earnings releases slowly get underway," XM analyst Raffi Boyadjian says in a note. Meanwhile, tensions between the U.S. and Iran persist, with further exchanges of military strikes. Bitcoin falls 1.2% to $64,167, having reached a three-week high of $65,524 on Wednesday, according to LSEG, after this week's lower-than-expected U.S. wholesale and consumer price inflation data dampened expectations for interest rate rises. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
July 16, 2026 13:42 ET (17:42 GMT)
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