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JPMorgan Chase smashed Q2 estimates with record revenue of $56.23B and net income of $18.15B. CEO Jamie Dimon called the banking environment “close to as good as it gets,” while flagging geopolitical and inflation risks.
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Bank of America smashed Q2 estimates with record trading revenue and a 20%+ jump in investment banking fees. Shares rose nearly 2% in intraday trading.
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Fed Chair Kevin Warsh told Congress Tuesday that June’s CPI improvement doesn’t mean “mission accomplished” on inflation, and refused to tip the Fed’s hand on rate moves. Markets slashed July hike odds to 17% as oil prices climbed on escalating Middle East tensions.
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The FDA has granted full approval to Eli Lilly’s RET inhibitor Retevmo for RET fusion-positive non-small cell lung cancer, broadening the label to include first-line patients. The decision, based on Phase III data, marks a key milestone for Lilly’s oncology portfolio.
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Qualcomm shares fell for a third consecutive day after a short seller warned of an undisclosed “hidden” risk. The broader chip sector also took a hit as the AI trade cooled.
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DeepSeek is in talks to raise roughly $1.5 billion at a $71 billion valuation, just a month after its first external funding round. The Chinese AI lab is targeting an IPO as early as 2027.
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Strategy (MSTR) launched a Bitcoin Banking Index to track publicly traded bitcoin holders, sending shares up 5.95% after hours to $97.58. The move comes just a day after the company sold 3,588 bitcoin for ~$216 million, trimming its hoard to 843,775 coins.
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The DOJ’s antitrust probe into healthcare data firm Claritev has intensified, sending UnitedHealth Group — a key customer and shareholder — down nearly 1% after hours. The stock hit a fresh intraday low as regulatory scrutiny of the healthcare sector broadens.
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SpaceX (SPCX) is trading just above its $135 IPO price after a brutal selloff erased over $800 billion in market cap. Analysts are split on whether the stock will break below the offer price.
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Tesla (TSLA) inched up 0.36% in after-hours trading Monday after at least four Wall Street firms raised their price targets on the stock ahead of its Q2 earnings report. UBS led the upgrades, citing expectations for a strong earnings beat.
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Uber’s product chief says the company won’t chase the super-app model of Asia’s Grab, instead focusing on mobility, delivery, and travel. The stock slipped 2.94% in after-hours trading following the interview.
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Meta faces a dual assault: a class-action lawsuit from employees alleging its AI system unfairly targeted them for layoffs, and a revolt from advertisers over AI ad tools generating bizarre, brand-damaging content. The stock edged up 0.33% to $658.92 as the market digested the news.