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MetLife Integrates Pet Insurance with ChatGPT Plugin
MetLife announced that MetLife Pet Insurance has integrated its insurance portal through a ChatGPT plugin, "enabling pet parents who use ChatGPT to easily link to MetLife Pet's personalized quotes, walk through their application and simply connect to the MetLife Pet website to purchase a policy," the company said.
Dow Falls, Nasdaq Rises as Oil Prices Ease Slightly
The major averages had a mixed day, with the Dow falling, the Nasdaq climbing and the S&P barely budging as oil prices eased fractionally following yesterday's sharp decline. Oil prices pulled back after Iran reportedly offered to reopen the Strait of Hormuz within seven days, while Saudi Arabia is also reportedly planning to resume its East-West pipeline as soon as this week.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AutoZonereported better-than-expected Q4 EPS, with total company same-store sales rising 1.5%Shares of Quest Diagnosticsand LabCorpwere slipping after CMS announced new preliminary Medicare payment rates for lab servicesBinance is investing $100M in Circle InternetRoyal Caribbeanis near a $6B deal for Sandals Resorts, FT reportsOpenAI has introduced cheaper GPT-6 family models2. WALL STREET CALLS:HSBC downgraded Netflixon viewer share loss to Alphabet'sYouTubeMetLifeupgraded to Overweight at Piper SandlerEricssondowngraded to Underweight at Morgan StanleyNorthcoast upgraded Brinkerto Buy on Chili's growthEldorado Golddouble upgraded to Buy at BofA after Gr eek site visits3. AROUND THE WEB:Nvidia'svaluation at less than 17-times next 12 months earnings is the cheapest level in more than a decade, Bloomberg reportsSoftBankis looking to issue $10B of securities and EUR 1B in debt to fund its OpenAI investment, in what would be one of the biggest junk bond sales yet, Bloomberg reportsGoldman Sachshas emerged as the lead bidder to acquire Palmer Square Capital Management, a credit manager that oversees $37B, Bloomberg saysAlibabais accelerating its vertically integrated AI strategy with the Zhenwu V900, whose larger GPU memory and bandwidth deliver roughly 3x the performance of its predecessor released just four months ago, WSJ reportsKrogerhas removed Red Bull and Boar's Head products at many stores because the company isn't accepting their price hikes, Bloomberg says4. MOVERS:Viking Therapeuticsgained after reporting results from its maintenance study of VK2735Grab Holdingsrose after its CEO bought $29.9M in common stockPelotonwas higher after launching its foldable Peloton Tread Flex and partnering with Miley for its "Let Yourself Run" campaignCharles Schwabfell after Investor's Business Daily reported the company is experiencing AI competition from VanguardCelldexwas lower after announcing results from its Phase 3 EMBARQ-CSU1 and EMBARQ-CSU2 trials5. EARNINGS/GUIDANCE:Thor Industriesreported Q4 results, with CEO Bob Martin noting the quarter was "more challenging" than expectedOn Holdingprovided guidance for Q3 and FY26MillerKnollreported Q1 results, with EPS beating consensusRoundtableannounced its outlook for Q1 and FY27Here Groupreported Q4 results, with EPS and revenue lower year-over-yearINDEXES:The Dow fell 185.14, or 0.36%, to 51,863.69, the Nasdaq gained 122.18, or 0.45%, to 27,244.28, and the S&P 500 declined 0.06, or 0.00%, to 7,764.64.
Dow Falls Nearly 300 Points, Nasdaq Rises Nearly 100 Points
The major averages were mixed near noon, with the Dow falling almost 300 points but the Nasdaq climbing nearly 100 points as oil prices eased fractionally following yesterday's sharp decline. Oil prices were slipping after Iran reportedly offered to reopen the Strait of Hormuz within seven days, while Saudi Arabia is also reportedly planning to resume its East-West pipeline as soon as this week.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AutoZonereported better-than-expected Q4 EPS, with total company same-store sales rising 1.5%Shares of Quest Diagnosticsand LabCorpwere slipping after CMS announced new preliminary Medicare payment rates for lab servicesBinance is investing $100M in Circle InternetThird-party data suggested strong initial interest in Meta'sMuse, which reached the number one position on the U.S. iOS App Store in the Productivity category shortly after launchPayPalis partnering with Meta on checkouts for purchases using Muse personal agents2. WALL STREET CALLS:HSBC downgraded Netflixon viewer share loss to Alphabet'sYouTubeMetLifeupgraded to Overweight at Piper SandlerEricssondowngraded to Underweight at Morgan StanleyNorthcoast upgraded Brinkerto Buy on Chili's growthEldorado Golddouble upgraded to Buy at BofA after Gr eek site visits3. AROUND THE WEB:SoftBankis looking to issue $10B of securities and EUR 1B in debt to fund its OpenAI investment, in what would be one of the biggest junk bond sales yet, Bloomberg reportsGoldman Sachshas emerged as the lead bidder to acquire Palmer Square Capital Management, a credit manager that oversees $37B, Bloomberg saysAlibabais accelerating its vertically integrated AI strategy with the Zhenwu V900, whose larger GPU memory and bandwidth deliver roughly 3x the performance of its predecessor released just four months ago, WSJ reportsKrogerhas removed Red Bull and Boar's Head products at many stores because the company isn't accepting their price hikes, Bloomberg saysMicrosoftis cutting another 500 jobs, primarily in Xbox, as it continues restructuring and downsizing its gaming business following broader July layoffs, Business Insider reports4. MOVERS:Viking Therapeuticsgains after reporting results from its maintenance study of VK2735Grab Holdingsincreases in New York after its CEO bought $29.9M in common stockPelotonhigher after launching its foldable Peloton Tread Flex and partnering with Miley for its "Let Yourself Run" campaignAbivaxfalls in New York after appointing Rabbat as Chief Medical OfficerCelldexlower after announcing results from its Phase 3 EMBARQ-CSU1 and EMBARQ-CSU2 trials5. EARNINGS/GUIDANCE:Thor Industriesreported Q4 results, with CEO Bob Martin noting the quarter was "more challenging" than expectedOn Holdingprovided guidance for Q3 and FY26MillerKnollreported Q1 results, with EPS beating consensusRoundtableannounced its outlook for Q1 and FY27Here Groupreported Q4 results, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 281.06, or 0.54%, to 51,767.77, the Nasdaq was up 78.77, or 0.29%, to 27,200.86, and the S&P 500 was down 3.94, or 0.05%, to 7,760.76.
MetLife Investment Management Closes $450M Galaxy 38 CLO
MetLife Investment Management announced the close of Galaxy 38 CLO, a $450M target par new issue collateralized loan obligation. PineBridge Investments, which is part of MIM, serves as collateral manager for the transaction. BofA Securities, Inc. acted as arranger. Galaxy 38 marks the 45th CLO issuance by the Leveraged Finance team, building on the team's long-standing track record in the CLO market.
MetLife Reports Q2 Revenue of $19.15B
Reports Q2 revenue $19.15B, consensus $19.55B. Comment from Michel Khalaf, President and Chief Executive Officer: "MetLife delivered an excellent second quarter. Adjusted earnings per share rose 20 percent, powered by strong underwriting and broad volume growth. Our New Frontier strategy is working. Disciplined execution is driving balanced growth and generating attractive returns, with adjusted return on equity at 17 percent year-to-date. Our scale, diversification and financial strength set MetLife apart, and this quarter further reinforces our ability to create value for shareholders across cycles, while keeping customers at the center of everything we do."
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