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L Catterton Sells Thorne to Procter & Gamble for $3.8B
L Catterton announced that it has signed a definitive agreement to sell Thorne, which it calls "a leader in science-backed health and wellness solutions," to The Procter & Gamble Company for $3.8B in cash. "This follows a successful partnership that accelerated the Company's growth and further strengthened its leadership in the wellness category," the investment firm stated.
Procter & Gamble to Acquire Thorne, Deal Expected to Close Soon
Thorne announced that it has entered into a definitive agreement to be acquired by Procter & Gamble. The transaction is expected to close later this year, subject to customary closing conditions and regulatory approvals. P&G will acquire Thorne from L Catterton's Flagship Fund. "Since 1984, Thorne has been a trusted partner to healthcare practitioners and a leader in science-backed health solutions, serving consumers, athletes, and healthcare professionals through rigorous science, world-class manufacturing, and uncompromising quality. Together, Thorne and P&G share a belief that trusted brands are built through a relentless commitment to quality, innovation, and earning consumer trust. The acquisition positions Thorne to continue advancing its mission to become the world's most trusted personalized health brand by helping consumers live healthier lives through science-backed solutions they can trust," the companies stated.
Procter & Gamble Acquires Thorne for $3.8B
Shailesh Jejurikar, President and CEO of Procter & Gamble, made the comment while being interviewed on CNBC. Jejurikar confirms that P&G is buying Thorne for $3.8B.
Microsoft's Strong Earnings Boost Market Recovery
The major averages closed sharply higher in a bounce back from yesterday's volatile session as a strong earnings report from Microsoft helped restore confidence in the artificial intelligence trade and offset lingering uncertainty following the Federal Reserve's latest policy decision.Corporate earnings remain the primary catalyst for markets. Microsoft shares are surging in premarket trading after the software giant reported stronger-than-expected quarterly results, projected robust current-quarter sales and cloud growth, and reassured investors with a lower-than-feared capital expenditure outlook. The results helped ease recent concerns that soaring AI-related spending was outpacing returns. Not all technology earnings were well received, however, as Meta Platforms was sharply lower after reporting a steep decline in free cash flow tied to heavy AI investment.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Microsoftreported, with Azure revenue surpassing $100B for the first time this yearMetareported, provided a somewhat conservative outlook for Q2 and narrowed its FY26 capital expenditure guidanceLooking at the food and beverage space, Starbucksand Chipotleboth providedreports for the June quarterQualcommreportedand provided a conservative outlook for Q4IntercontinentalExchangeMarketAxessfor $167 per share in cash2. WALL STREET CALLS:Humanaat Leerink and Piper SandlerKeefeCore Scientificshortly after downgrade on AMD lease winLas Vegas Sandsto Hold at Argus amid potential VIP gaming pressureHSBCProcter & Gambleto Hold after "weak" Q4Jersey Mike's Subswith a Buy at Melius Research ahead of IPO3. AROUND THE WEB:Data center developer Nexus, which is working with Anthropic, is in advanced discussions to borrow $15B from a consortium of banks led by Morgan Stanleyto construct a massive new campus and power plant in Texas, WSJ reportsGoldman Sachs Asset Managementhas launched an artificial intelligence investing platform, AlphaAI, Reuters reportsOpenAI's ChatGPT and Robloxare expected to face stricter EU content moderation oversight after surpassing the 45 million monthly user threshold for designation as very large online platforms, Bloomberg reportsIn an internal meeting, OpenAI finance chief Sarah Friar told employees that the company's annualized recurring revenue in July was higher than in Q2 as a whole, CNBC saysExxonMobil, Chevron, and other oil companies have been fighting over the few attractive drilling spots in Venezuela, but some of the discussions with the country's leaders have hit an impasse, WSJ reports4. MOVERS:Xeroxincreases after, with EPS and revenue beating consensusBloom Energyhigher after Mizuhothe stock to OutperformCorcept Therapeuticsand Bausch Healthgains in New York afterTeladocfalls afterand providing guidance for Q3 and FY26Alnylamand Phathom Pharmaceuticalslower after5. EARNINGS/GUIDANCE:MasterCard, with EPS and revenue beating consensusPiper Sandler, with CEO Chad Abraham commenting, "Broad-based performance across our platform drove another quarter of year-over-year growth, fueling our best first-half revenues on record"FTI Consultingand raised its guidance for FY26HNI Corporation, with EPS beating consensusEmcorand raised its guidance for FY26, with CEO Tony Guzzi calling it "an exceptional second quarter,"INDEXES:The Dow rose 613.92, or 1.19%, to 52,208.06, the Nasdaq gained 679.24, or 2.78%, to 25,122.18, and the S&P 500 advanced 121.48, or 1.66%, to 7,437.63.
Microsoft's Strong Earnings Boost Market Confidence
The major averages were broadly higher near noon following Wednesday's volatile session, as a strong earnings report from Microsoft helped restore confidence in the artificial intelligence trade and offset lingering uncertainty following the Federal Reserve's latest policy decision.Corporate earnings remain the primary catalyst for markets. Microsoft shares are surging in premarket trading after the software giant reported stronger-than-expected quarterly results, projected robust current-quarter sales and cloud growth, and reassured investors with a lower-than-feared capital expenditure outlook. The results helped ease recent concerns that soaring AI-related spending was outpacing returns. Not all technology earnings were well received, however, as Meta Platforms is trading sharply lower after reporting a steep decline in free cash flow tied to heavy AI investment.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Microsoftreported, with Azure revenue surpassing $100B for the first time this yearMetareported, provided a somewhat conservative outlook for Q2 and narrowed its FY26 capital expenditure guidanceLooking at the food and beverage space, Starbucksand Chipotleboth providedfor the June quarterQualcommreportedand provided a conservative outlook for Q4IntercontinentalExchangeMarketAxessfor $167 per share in cash2. WALL STREET CALLS:Humanaat Leerink and Piper SandlerKeefeCore Scientificshortly after downgrade on AMD lease winLas Vegas Sandsto Hold at Argus amid potential VIP gaming pressureHSBCProcter & Gambleto Hold after "weak" Q4Jersey Mike's Subswith a Buy at Melius Research ahead of IPO3. AROUND THE WEB:OpenAI's ChatGPT and Robloxare expected to face stricter EU content moderation oversight after surpassing the 45 million monthly user threshold for designation as very large online platforms, Bloomberg reportsIn an internal meeting, OpenAI finance chief Sarah Friar told employees that the company's annualized recurring revenue in July was higher than in Q2 as a whole, CNBC saysExxonMobil, Chevron, and other oil companies have been fighting over the few attractive drilling spots in Venezuela, but some of the discussions with the country's leaders have hit an impasse, WSJ reportsIntelhas given access to some of its processor technology to new startup RosaicLabs, Reuters saysThe U.S. Space Force has awarded SpaceXtwo National Security Space Launch Phase 3 Lane 1 task orders with a total value of $1.6B for 18 Falcon 9 launches, Bloomberg reports4. MOVERS:Xeroxincreases after, with EPS and revenue beating consensusBloom Energyhigher after Mizuhothe stock to OutperformCorcept Therapeuticsand Bausch Healthgains in New York afterTeladocfalls afterand providing guidance for Q3 and FY26Alnylamand Phathom Pharmaceuticalslower after5. EARNINGS/GUIDANCE:MasterCard, with EPS and revenue beating consensusPiper Sandler, with CEO Chad Abraham commenting, "Broad-based performance across our platform drove another quarter of year-over-year growth, fueling our best first-half revenues on record"FTI Consultingand raised its guidance for FY26HNI Corporation, with EPS beating consensusEmcorand raised its guidance for FY26, with CEO Tony Guzzi commenting, "We had an exceptional second quarter, growing revenues nearly 20% and earning an impressive 10.6% operating margin"INDEXES:Near midday, the Dow was up 385.68, or 0.75%, to 51,979.82, the Nasdaq was up 622.59, or 2.55%, to 25,065.54, and the S&P 500 was up 94.72, or 1.29%, to 7,410.87.
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