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Palantir Surges 15% After Earnings Beat Expectations
Stock futures are modestly higher as the market looks to build on Monday's rally, with technology shares continuing to lead gains ahead of another busy day of earnings. Technology remains the market's primary driver after another round of upbeat earnings reinforced optimism around artificial intelligence. Palantir surged after reporting results that exceeded expectations, helped by strong demand from government customers, while investors are now awaiting SpaceX's first quarterly earnings report since its June initial public offering.Geopolitical developments remain on investors' radar after another commercial vessel was struck near the Strait of Hormuz, highlighting continued risks to global shipping despite recent diplomatic efforts between the United States and Iran. Oil prices have rebounded modestly after Monday's sharp decline, though they remain well below last month's highs, easing some concerns about energy-driven inflation.Investors are also monitoring reports that the Trump administration is drafting restrictions on certain Chinese-made data center networking components over national security concerns, a move that could have implications for AI infrastructure and semiconductor supply chains.In pre-market trading, S&P 500 futures rose 0.35%, Nasdaq futures rose 1.12% and Dow futures rose 1.28%.Check out this morning's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -Palantirup 15%Caterpillarup 11%Snapup 4%Archer Danielsup 3%Graphic Packagingup 3%Apollo Globalup 2%McDonald'sup 1%Toyotaup 1%Merckup 1%DOWN AFTER EARNINGS -Spotifydown 5%HSBCdown 2%Pinnacle Westdown 2%Wayfairdown 1%Watersdown 1%PagerDutydown 1%BPdown 1%
Lumen Technologies Appoints John Hinshaw to Board of Directors
Lumen Technologies (LUMN) announced the appointment of John Hinshaw to its Board of Directors, effective Aug. 4, 2026. Most recently, he served as Group Chief Operating Officer of HSBC (HSBC).
Company Announces $0.10 Dividend and $1bn Buyback
The company said, "The Board has approved a second interim dividend of $0.10 per share. We also intend to initiate a share buy-back of up to $1bn, which we expect to complete by our third quarter 2026 results announcement."
Company Expects Banking NII of At Least $46 Billion in 2026
The company said, "In respect of 2026, We now expect banking NII of at least $46bn in 2026, reflecting a continued favourable interest rate outlook, while recognising the outlook remains volatile and uncertain. We had previously provided banking NII guidance of around $46bn for 2026. We continue to expect an ECL charge as a percentage of average gross customer loans to be around 45bps for 2026, reflecting ongoing uncertainty in the outlook. Over the medium term, we retain our planning range of 30-40bps. The Group remains on track to deliver year-on-year growth in operating expenses of approximately 1% in 2026 on a target basis. Should strong business performance continue, we may consider additional performance-related pay which would increase 2026 target basis cost growth modestly. Our target basis operating expenses measure excludes notable items and includes the impact of simplification-related saves associated with our announced strategic reorganisation. We intend to continue to manage the CET1 capital ratio within our medium-term target range of 14% to 14.5%."
Company Expects 17% Average Equity Return by 2026
The company said, "We remain confident in achieving the targets we set out in February 2026, including a return on average tangible equity of 17% or better for 2026, 2027 and 2028, excluding notable items. We continue to target year-on-year growth in revenue from 2026 to 2028, rising to 5% growth in 2028 compared with 2027, excluding notable items and on a constant currency basis. We maintain our dividend payout ratio target basis of 50% in 2026, 2027 and 2028. Our target basis payout ratio is calculated as a percentage of earnings per share excluding material notable items and related impacts."
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