Western Alliance Bancorp (WAL) News & EventsWALWestern Alliance Bancorp

Western Alliance Bank Launches WA VenueX Institutional Financial Platform

Western Alliance Bank announced the launch of WA VenueX, an institutional financial platform that provides real-time U.S. dollar liquidity and supports digital asset activity within a regulated banking environment. WA VenueX Network is Western Alliance Bank's 24/7 U.S. dollar instant settlement network for approved institutional digital asset businesses. Since its initial rollout earlier this year, WA VenueX has processed billions of dollars in transaction volume for stablecoin minting and redemption, institutional digital asset settlement and real-time liquidity rebalancing. Additional WA VenueX capabilities, including digital asset custody, financing, tokenization and programmable financial services, are in development and will be introduced in phases over the coming months.

Stock Futures Surge as Focus Shifts to Earnings Reports

Stock futures were sharply higher in after-hours, adding to the session's broad gains. Traders after the close saw early reporting mostly from smaller banks, though notable names included Capital One, Bank OZK, and Pegasystems.The focus this week is on corporate earnings, with Alphabet, Tesla, IBM and Intel all set to report in the coming days. Investors are looking for signs that spending on artificial intelligence continues to translate into revenue growth and profitability after recent volatility in chip stocks raised questions about lofty valuations across the sector.Check out this evening's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -Annaly Capitalup 1.1%ALSO HIGHER -Finward Bancorpup 17.8% after agreeing to be acquired by First Financialin an all-stock transactionSuper Microup 17.5% after guiding for Q4 revenue at the low end of its previously provided guidance rangeDOWN AFTER EARNINGS -Pegasystemsdown 13%Alaska Airdown 2.1%Bank OZKdown 1.9%Western Alliancedown 1.9%ALSO LOWER -Faraday Futuredown 23% after announcing it will effect a 1-for-50 reverse split of its Class A Common Stock and Class B common stock on July 24Dyne Therapeuticsdown 10% after announcing a $300M common stock offering

Company Reports Q2 Revenue of $995.7M, Beating Expectations

Reports Q2 revenue $995.7M, consensus $982.98M. The company said: "Our results were driven by quarterly HFI loan growth of $1.8 billion, which reflected ongoing momentum in our C&I businesses. Net interest income rose 4% from the prior quarter, primarily from a $2.7 billion increase in average earning assets, and benefitted from a stable net interest margin, which was supported by lower funding costs. Asset quality trends continue to improve. Special mention and classified accruing loans declined approximately 22% and 3.3%, respectively, while net charge-offs declined 2 basis points from the Q1 adjusted level to 0.37%. Tangible book value per share1 climbed 13.2% year-over-year to $63.24 and the CET1 ratio remained 11.0%, while our allowance for credit losses ratio increased 2 basis points to 0.89%."