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Stock Futures Rise as Oil Prices Ease
Stock futures are pointing to a higher open as easing oil prices and a pullback in Treasury yields give investors some relief, while renewed enthusiasm for artificial intelligence continues to lift technology shares.The bond market remains the biggest source of tension beneath the equity rally. The 10-year Treasury yield is around 5.26% after touching 5.35% Monday, its highest level since 2002, while the 30-year yield briefly reached 5.70%.Oil is providing some additional relief, with Brent crude down nearly 2% to about $98.35 a barrel and WTI around $87.60. Increased Middle Eastern crude exports and the G7's planned emergency stockpile release have eased some supply concerns, although the ongoing conflict with Iran continues to leave the energy market vulnerable to renewed disruptions.In pre-market trading, S&P 500 futures rose 0.39%, Nasdaq futures rose 0.48% and Dow futures rose 0.46%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Option Care Healthup 32% after announcing CD&R and McKessonwill acquire the company for $32.05 per shareConstellation Energyup 7% after Googleand the company announced a long-term strategic clean energy collaboration to bring 890 megawatts of new, reliable nuclear capacity onto the PJM Interconnection gridBorgWarnerup 5% after Morgan Stanley upgraded the stock to Overweight with a price target of $95, up from $91Cortevaup 3% after JPMorgan upgraded shares to Overweight with a $19 price target following the spinout of the seed businessNomad Foodsup 2% after reiterating its FY26 outlook at its analyst and investor dayAMDup 1% after ReutersCEO Lisa Su said AMD plans to increase its chip supply in 2027 to meet the growing demand from AIUP AFTER EARNINGS -Apogee Enterprisesup 20%DOWN AFTER EARNINGS -RPMdown 1%LOWER -Blaizedown 12% after disclosing that the company and certain of its employees and members of the board received subpoenas and inquiries from the Department of Justice requesting information relating to the company's business and agreements with certain counterpartiesNikedown 1% after Berenberg downgraded the stock to Sell with a price target of $27.50, down from $49
BorgWarner Secures New Programs in Europe and China
BorgWarner new program awards in Europe and China. The wins include a program life extension and significant volume increase for a leading European premium OEM's V6 engine family and a conquest win for a major Chinese OEM's 1.5-liter turbocharged gasoline engine family, replacing the previous incumbent supplier. Compared with oil pressure actuated variable cam timing, or VCT, architectures, BorgWarner's center-bolt CTA VCT system shortens and simplifies internal oil passages, enabling superior cam phasing response, stronger lock-pin engagement and reduced oil consumption for improved fuel economy. For the European premium OEM, BorgWarner supplies its center-bolt Cam Torque Actuated VCT system for a V6 engine family used in premium and sports cars, covering two power output classes from 260 to 375 kW in both hybrid and pure gasoline configurations. The program is already in series production, and the newly awarded volume increase and program life extension are scheduled to begin in January 2027. For the Chinese OEM, BorgWarner's CTA VCT system was selected for a high volume 1.5-liter turbocharged gasoline engine family powering a range of SUV and sedan models for the Chinese market. The conquest award replaces the previous incumbent supplier, with BorgWarner's market-leading solution offering fuel efficiency, local manufacturing and improved cost competitiveness. Start of production is planned for September 2026.
Company Reports Q2 Revenue of $3.65B
Reports Q2 revenue $3.65B, consensus $3.58B. The company said, "The Company continued to make progress in its product readiness across its portfolio offerings for the data center and industrial markets. The Company plans to increase 2026 R&D spending to accelerate these future growth opportunities."
Company Board Approves $1B Increase to Share Repurchase Program
The company's board of directors authorized an increase to its share repurchase program of $1B, bringing the company's total authorization to approximately $1.35B, which is intended to allow management to repurchase the company's outstanding shares through 2029.
Company Raises 2026 EPS Guidance to $5.18
Consensus $5.18. Backs FY26 revenue view $14B-$14.3B, consensus $14.18B. The company said, "The Company increased its 2026 full year adjusted earnings per share guidance, while maintaining its sales, adjusted operating margin and cash flow expectations. At the mid-point of its 2026 guidance, the Company expects to deliver another year of adjusted operating margin improvement and adjusted earnings per share growth despite the Company's expectation that its weighted light vehicle markets will be down 3% to approximately flat and a decline in the Company's Battery Energy Systems segment sales. Net sales are expected to be in the range of $14.0 billion to $14.3 billion in 2026, compared with 2025 net sales of approximately $14.3 billion. The Company's net sales guidance implies a year-over-year change in organic net sales of down 3.5% to down 1.5%. The Company's net sales guidance includes an expected year-over-year sales decline of approximately $250 million in the Company's Battery Energy Systems segment, which represents approximately a 1.7% headwind to organic net sales growth in 2026. Foreign currencies are expected to result in a year-over-year increase in sales of approximately $175 million primarily due to the strengthening of the Euro and Chinese Renminbi against the U.S. dollar. U.S. GAAP operating margin is expected to be in the range of 9.6% to 9.8% in 2026. Excluding the impact of non-comparable items and the add back of intangible asset amortization expense, adjusted operating margin is expected to be in the range of 10.7% to 10.9%. U.S. GAAP net earnings are expected to be within the range of $4.72 to $4.94 per diluted share. Excluding the impact of non-comparable items, adjusted net earnings are expected to be in the range of $5.05 to $5.30 per diluted share, compared to the Company's previous adjusted net earnings range of $5.00 to $5.20 per diluted share. The increase is due to the impact of the Company's share repurchases during the first half of 2026. Full year operating cash flow is expected to be in the range of $1,600 million to $1,700 million, while free cash flow is expected to be in the range of $900 million to $1,100 million."
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