• Nvidia backs Nebius: Nvidia (NVDA) disclosed a 9.3% stake in AI cloud provider Nebius (NBIS), sending Nebius shares 6.6% higher premarket. Nvidia rose 1.2%. Source: CNBC.
• AMD launches new AI system: AMD (AMD) unveiled its first rack-scale AI system, Helios, marking its strongest challenge yet to Nvidia (NVDA) in AI infrastructure. Shares rallied 4% premarket. Source: CNBC.
• Google develops Gemini chip: Google (GOOGL) is reportedly developing a new server chip that embeds parts of its Gemini AI models into hardware. Shares rose 1.5%. Sources: The Information / Reuters.
• Intersnack buys Utz Brands: Snack company Utz (UTZ) agreed to a $2.9B take-private deal from Germany’s Intersnack Group. Utz rallied 88% premarket. Source: Reuters.
• JetBlue wins LaGuardia slots: JetBlue (JBLU) secured Spirit’s takeoff and landing slots at New York’s LaGuardia Airport and plans to return to a popular terminal. Shares are up 20% YTD. Source: CNBC.
• Icahn sells Pep Boys: Icahn Enterprises (IEP) agreed to sell auto-services firm Pep Boys to Mavis Tire for about $700M in cash. IEP is up 3.4% MoM. Source: WSJ.
• Iran hits Amazon site: Iran's military claimed to have targeted Amazon's (AMZN) data infrastructure in Bahrain, though the attack remains unverified. The development highlights risks for firms running data centers in the Middle East. Source: CNBC.
• Lockheed unveils cheaper missile: Lockheed Martin (LMT) plans a lower-cost Patriot interceptor that can be produced faster and sold for less than half the price of its current model, aiming to help replenish missile stockpiles. Source: WSJ.

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• GM: General Motors (GM) beat Q2 earnings and revenue estimates, raising its 2026 adjusted profit and free cash flow guidance as resilient vehicle pricing and strong North American performance offset lower net income. All the same, shares fell 2.4% premarket. Source: CNBC.
• Cracker Barrel: Cracker Barrel (CBRL) raised its full-year outlook after selling Maple Street Biscuit assets and completing a $77M sale-leaseback, using proceeds to reduce debt and sharpen its focus on its core restaurant brand. Shares rose 2.3% premarket. Source: WSJ.
• Novartis: Novartis (NVS) reported a better-than-expected $5.94B Q2 core operating profit amid cost controls and strong sales of newer drugs. Shares gained 2.9% premarket. Source: Reuters.

• Judge pauses media merger: A federal judge temporarily blocked Paramount’s (PSKY) proposed $111B acquisition of Warner Bros. Discovery (WBD), citing antitrust concerns raised by a multistate lawsuit. WBD fell 3.8%, with PSKY down 2%. Source: NPR.
• Novo sues Eli Lilly: Novo Nordisk (NVO) sued Eli Lilly (LLY), alleging Lilly's advertising misleads consumers by using outdated trial data to overstate its drugs’ efficacy. Novo is seeking to halt the ads and recover damages. Source: CNBC.
• Anthropic settlement gets green light: Anthropic won final court approval for a $1.5B copyright settlement with authors over AI training on books, resolving the largest-ever U.S. copyright case. Source: Reuters.
• Boeing challenges Airbus loans: Boeing (BA) asked the feds to seek details on a $3.43B European loan package for Airbus (EPA:AIR), arguing it may conflict with a 2021 jet-subsidy agreement. Source: Reuters.
• Revolut faces European limits: Revolut’s planned French banking hub is expected to launch with restrictions on new lending products similar to those imposed on its Lithuanian unit, reflecting ongoing regulatory scrutiny. Source: Bloomberg.
• FCC targets Chinese drones: The FCC plans to retroactively revoke approvals for DJI-branded drones sold through alleged front companies, potentially barring their import and sale in the U.S. DJI is a privately held Chinese tech firm. Source: The Verge.

• Oil supply hits 43-year low: The U.S. Strategic Petroleum Reserve dropped 5.1M barrels to 311.4M, the lowest level since 1983, as ongoing emergency releases continue to tighten total U.S. oil inventories. Source: Reuters.
• European factory output slips: Eurozone industrial production unexpectedly fell 0.2% in May, missing forecasts of 0.2% growth. The downturn broke a 3-month growth streak. Source: WSJ.
• NZ inflation: New Zealand’s annual inflation rose to 4.1% in Q2, exceeding forecasts and hitting a 2.5-year high. Source: Reuters.

• U.S. targets Canadian imports: President Trump imposed new 50% tariffs on numerous Canadian goods, including cement, wine, and hockey paraphernalia, citing alleged trade discrimination. Source: CNBC.
• Burnham's first moves: The U.K.'s new prime minister, Andy Burnham, appointed former Defense Secretary John Healey to Britain's top finance post in an unexpected move. Burnham also said he would slash taxes on electricity bills in a bid to lower costs. Sources: NY Times / Reuters.
• Nicaragua ends elections: Daniel Ortega, the leftist president of Nicaragua, said the country will no longer hold elections, deepening concerns over authoritarian governance. Source: Reuters.
• African islands hold vote: Carlos Vila Nova, the center-right president of the small island nation of São Tomé and Príncipe, won a second 5-year term with more than 55% of the vote. Source: Reuters.
• Tragic U.S. drownings: 5 people died in a river in Ohio while attempting to rescue a swimmer in distress, and 5 others died in Utah after floods hit a canyon where a family was camping. Sources: AP / NY Times.
• Dimon's investment advice: JPMorgan (JPM) CEO Jamie Dimon claimed that investors are underestimating geopolitical and fiscal risks and said he would not buy broad U.S. stocks or long-term Treasuries at current valuations. Source: CNBC.

• 8:15 AM: ADP Employment Change Weekly
• 4:30 PM: API Crude Oil Stock Change

Steel Dynamics (STLD) has released its quarterly earnings.

• Revenue of $6.09B (+33.45% YoY) beats by $522.49M.
• EPS of $3.69 (+83.58% YoY) beats by $0.01.
• Financials · As Reported · Metrics · Press Release

W. R. Berkley (WRB) has released its quarterly earnings.

• Revenue of $3.72B (+1.25% YoY) beats by $418.14M.
• EPS of $1.27 (+20.95% YoY) beats by $0.18.
• Financials · As Reported · Metrics · Press Release

Novartis AG (NVS) has released its quarterly earnings.

• Revenue of $14.41B (+2.52% YoY) beats by $284.03M.
• EPS of $2.41 (-0.41% YoY) beats by $0.25.
• Financials · As Reported · Metrics · Press Release

The Charles Schwab Corporation (SCHW) has released its quarterly earnings.

• Revenue of $7.07B (+20.87% YoY) beats by $259.86M.
• EPS of $1.62 (+42.11% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

Danaher (DHR) has released its quarterly earnings.

• Revenue of $6.27B (+5.54% YoY) beats by $158.69M.
• EPS of $1.94 (+7.78% YoY) beats by $0.10.
• Financials · As Reported · Metrics · Press Release

Marsh & McLennan Companies (MRSH) has released its quarterly earnings.

• Revenue of $7.40B (+6.17% YoY) beats by $122.60M.
• EPS of $2.96 (+8.82% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

3M Company (MMM) has released its quarterly earnings.

• Revenue of $6.50B (+5.55% YoY) beats by $111.50M.
• EPS of $2.40 (+11.11% YoY) beats by $0.16.
• Financials · As Reported · Metrics · Press Release

Northrop Grumman (NOC) has released its quarterly earnings.

• Revenue of $10.88B (+5.08% YoY) beats by $84.34M.
• EPS of $6.77 (-4.78% YoY) misses by $0.04.
• Financials · As Reported · Metrics · Press Release

General Motors Company (GM) has released its quarterly earnings.

• Revenue of $48.03B (+1.92% YoY) beats by $1.22B.
• EPS of $3.57 (+41.11% YoY) beats by $0.42.
• Financials · As Reported · Metrics · Press Release

MSCI Inc. (MSCI) has released its quarterly earnings.

• Revenue of $867M (+12.21% YoY) beats by $7.61M.
• EPS of $4.94 (+18.47% YoY) beats by $0.08.
• Financials · As Reported · Metrics · Press Release

D.R. Horton (DHI) has released its quarterly earnings.

• Revenue of $9.23B (+0.02% YoY) beats by $45.66M.
• EPS of $3.20 (-4.76% YoY) beats by $0.21.
• Financials · As Reported · Metrics · Press Release

Halliburton Company (HAL) has released its quarterly earnings.

• Revenue of $5.71B (+3.70% YoY) beats by $220.43M.
• EPS of $0.55 beats by $0.01.
• Financials · As Reported · Metrics · Press Release

KeyCorp (KEY) has released its quarterly earnings.

• Revenue of $1.96B (+6.74% YoY) misses by $7.97M.
• EPS of $0.44 (+25.71% YoY) beats by $0.02.
• Financials · As Reported · Metrics · Press Release

Synchrony Financial (SYF) has released its quarterly earnings.

• Revenue of $4.61B (+1.92% YoY) beats by $683.49M.
• EPS of $2.59 (+3.60% YoY) beats by $0.50.
• Financials · As Reported · Metrics · Press Release

Equifax (EFX) has released its quarterly earnings.

• Revenue of $1.70B (+10.61% YoY) beats by $4.05M.
• EPS of $2.25 (+12.50% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Alphabet (GOOGL) will report tomorrow after market close.

• Analysts estimate revenue of $113.63B (+17.84% YoY).
• EPS is estimated to be $2.87 (+24.24% YoY).
• Financials · As Reported · Metrics

Tesla (TSLA) will report tomorrow after market close.

• Analysts estimate revenue of $25.24B (+12.18% YoY).
• EPS is estimated to be $0.44 (+10.00% YoY).
• Financials · As Reported · Metrics

CSX Corporation (CSX) will report tomorrow after market close.

• Analysts estimate revenue of $3.77B (+5.56% YoY).
• EPS is estimated to be $0.49 (+11.36% YoY).
• Financials · As Reported · Metrics

Equinor ASA (EQNR) will report tomorrow before market open.

• Analysts estimate revenue of $35.84B (+42.72% YoY).
• EPS is estimated to be $1.49 (+132.81% YoY).
• Financials · As Reported · Metrics

CME Group (CME) will report tomorrow before market open.

• Analysts estimate revenue of $1.73B (+2.08% YoY).
• EPS is estimated to be $2.99 (+1.01% YoY).
• Financials · As Reported · Metrics

Moody's (MCO) will report tomorrow before market open.

• Analysts estimate revenue of $2.06B (+8.53% YoY).
• EPS is estimated to be $4.18 (+17.42% YoY).
• Financials · As Reported · Metrics

Newmont (NEM) will report Thursday.

• Analysts estimate revenue of $6.38B (+19.97% YoY).
• EPS is estimated to be $2.18 (+52.45% YoY).
• Financials · As Reported · Metrics

Comcast (CMCSA) will report Thursday.

• Analysts estimate revenue of $29.26B (-3.47% YoY).
• EPS is estimated to be $0.97 (-22.40% YoY).
• Financials · As Reported · Metrics

Freeport-McMoRan (FCX) will report Thursday.

• Analysts estimate revenue of $6.63B (-12.56% YoY).
• EPS is estimated to be $0.60 (+11.11% YoY).
• Financials · As Reported · Metrics

HCA Healthcare (HCA) will report Friday.

• Analysts estimate revenue of $19.37B (+4.12% YoY).
• EPS is estimated to be $7.41 (+8.33% YoY).
• Financials · As Reported · Metrics

Cadence Design Systems (CDNS) will report Monday.

• Analysts estimate revenue of $1.58B (+23.65% YoY).
• EPS is estimated to be $1.97 (+19.39% YoY).
• Financials · As Reported · Metrics

• Estimated Friday, July 24: Scribe Therapeutics Inc. (SCTX), a longevity-oriented pharma company with $36.28M in TTM revenue and 86.7% revenue growth YoY.