The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1355 ET - Comcast is rejiggering its connectivity proposition around transparent pricing, converged broadband and wireless, and a more flexible customer experience, while also starting work required to separate its connectivity and platform business from NBCUniversal and Sky, according to Benchmark in a note. Those changes put some pressure on the company's 2Q results, analyst Matthew Harrigan says. Comcast's consolidated revenue rose, partly because Telemundo and Peacock carried the World Cup, although pro forma adjusted EBITDA declined, Harrigan says. The connectivity and platforms segment was also hurt by lower broadband average revenue per user, free-line dilution and customer-experience investment, he says. Still, Harrigan maintain his buy rating and $44 price target on the stock. (kelly.cloonan@wsj.com)
1341 ET - Melius Research analysts say they continue to see SLB as the best-positioned oil services company for an upcoming improvement in exploration and production spending. Analysts James West and Sanskriti Reddy point in a note to several of SLB's strengths, including its international breadth, technology, digital offerings and large share of the offshore market, especially in deepwater. Additionally, SLB's data center solutions contracted backlog already supports its target for 2027, which shifted from $2 billion by the end of the year to an annualized exit run rate of more than $2 billion, they say. That raised forecast "points to demand outrunning the prior plan," the analysts say. (kelly.cloonan@wsj.com)
1337 ET - The number of oil rigs operating in the U.S. fell for the first time in 13 weeks but is well above the year-earlier level, according to data from oil services company Baker Hughes. Oil rigs slipped by two this week to 450, which was 35 more than a year ago. Rigs directed at natural gas increased by one to 127, the most since mid-May and five more than a year ago. The rise in oil prices caused by the war in the Middle East has encouraged drilling and higher U.S. crude oil production. Following a slide in the second half of June, crude prices are back at six-week highs with the recent conflict escalation between the U.S. and Iran.(anthony.harrup@wsj.com)
1314 ET - SLB looks like it will be in a solid spot when the Middle East recovers after a resolution to the conflict in the region, according to Melius Research in a note. The oil services company is in close contact with the countries affected by the conflict, as well as national oil companies, as it prepares for a rebound, analysts James West and Sanskriti Reddy say, pointing to the company's forecast for its Middle East 4Q revenue to reach about 95% of pre-conflict levels. SLB also has a number of other drivers, they say. "The key swing factor into year end and 2027 remains the pace of Middle East remobilization, though the combination of deepwater, digital and data center momentum supports the setup even under a slower regional recovery," they say. (kelly.cloonan@wsj.com)
1217 ET - What's painful for consumers may prove supportive for Canadian grocers. RBC's Irene Nattel says Canadian grocers are poised to win in 2Q amid the "resurgence of geopolitical uncertainty and upside inflation risk, combined with long-term secular trends." She says that under these conditions, such as higher inflation accelerating "at or above 4% for the third consecutive quarter," grocery stocks should remain "stronger for longer" as investors rotate toward more defensive, consistent growing names. Loblaw remains the top pick for Nattel thanks to its disciplined operating model and financial framework underpinned by "expansion in Hard Discount, Pharmacy, and T&T, high-margin ancillary income streams, and ongoing return of capital to shareholders." (adriano.marchese@wsj.com)
1139 ET - Cryptocurrency investors were increasingly optimistic this week about the passage of the Clarity Act, which supported prices for bitcoin and other cryptocurrencies. But that support has faded as the odds for the passage of the Clarity Act have decreased, says Alex Schmidt of CoinShares in a note. "This week demonstrated, in both directions, that the market is… trading the headline," says Schmidt. Decreasing the expectations around the passage of the bill is opposition from Senate Democrats over ethical concerns. Bitcoin is down 1.7% to just above $64,000, according to data from LSEG. Ethereum falls 1.2% to $1,862, XRP is down 1.8% to $1.09, and solana is down 2.8% to $73.94. (kirk.maltais@wsj.com)
1136 ET - NextEra Energy is strongly positioned to capture the power demand from the artificial-intelligence boom, Melius Research analysts write in a note after the company reported a soaring profit in the second quarter. The company should easily meet and beat both its base case and upside scenario for power generation by 2035, and its pending tie-up with Dominion Energy is poised to create a U.S. energy giant, the analysts say. "Power demand in the US is entering its steepest growth cycle in a generation, inflected upward by the AI datacenter buildout, electrification, and reshoring," the analysts write. "NEE is structuring itself to be the only company with the balance sheet, supply chain, and operating platform to meet that demand at scale." (elias.schisgall@wsj.com)
1121 ET - CN Rail's strong 2Q and raised EPS guidance for the year suggests consensus is too low. TD Cowen analyst Cherilyn Radbourne says CN Rail beat expectations across revenue, EBIT and EPS, helped by strength in grain, fertilizers and petroleum products. The railroad now calling for mid- to high-single-digit EPS growth on low-single-digit volume gains, compared with consensus 4% outlook. The company has also maintained its network performance, with car velocity flattish, fuel efficiency up by 3%, and gross ton-miles per employee increased 9%. Radbourne says the raised guidance "implies upside to the Street/our forecast," with network performance and fuel efficiency also supporting the improved view.(adriano.marchese@wsj.com)
1113 ET - American Express's planned reinvestment into its business could be roughly $1.5 billion, Truist analysts say. The card company beat profit expectations in the first half of the year, and wants to use that excess money to invest in marketing and technology, it said. The Truist analysts expect Amex will make a second reinvestment before the year is up, which will total $1.5 billion with the first one of extra investment. The analysts think the investments will go toward acquiring more customers, updating technology and integrating TheFork, a restaurant booking platform Amex plans to acquire. (katherine.hamilton@wsj.com)
1051 ET - An exemption for Scotch from U.S. import tariffs shows the possibility of solutions that recognize the value of the transatlantic spirits trade, an industry group says. These exemptions--that also include other British whisky--were reached when King Charles III visited Washington in April, and apply despite a fresh round of duties set out by the White House this week. Industry association spiritsEurope says it welcomes the exemption. The step marks "a constructive step that recognizes the distinctive nature of these products and the high value of transatlantic spirits trade," director-general Mark Titterington says. He calls on a full zero-tariff regime to be implemented across the EU and U.S. for the spirits sector, which, he says, "would be for the benefit of the hospitality sector on both sides." (joshua.kirby@wsj.com; @joshualeokirby)
1020 ET - CN Railway has effectively aligned itself with the proposed Union Pacific-Norfolk Southern merger, with one of its two new agreements taking effect only if the deal is approved. CEO Tracy Robinson tells analysts in a call that commercial and settlement deals give CN direct, competitive access to Kansas City and Mexico, densify parts of its U.S. network, and monetize surplus capacity on the EJ&E line. Robinson says the arrangements "largely address the risk of the proposed merger to CN" while creating new growth opportunities, prompting the railway to formally drop its opposition to the transaction as part of one of the agreements. Robinson adds that the opportunities from the agreements and potential merger-related remedies "improve the position of our railway and create new avenues for growth." (adriano.marchese@wsj.com)
1003 ET - Bitcoin is down 1.1%, but at around $64,000 it remains elevated versus the multi-year lows it had found last month. Supporting this is the slow return of demand from ETFs after a steady streak of capital outflows. Prior to yesterday, bitcoin ETFs posted seven consecutive days of net inflows, giving prices a boost to nearly $67,000. While these are good signs for bitcoin investors, the token's fundamentals are fragile, says analysts with Coinbase Research in a note. "At next week's FOMC meeting, the Fed's guidance and rate decision will be crucial," says Coinbase. "If the Fed holds and long-term yields remain stable, we think bitcoin can remain resilient." Other major cryptocurrencies are lower, with ethereum down 1.1% to $1,864. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
July 24, 2026 13:55 ET (17:55 GMT)
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