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Trump Considers Investment in Venezuela's Oil Industry
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.VENEZUELAN OIL:The U.S. is considering taking an ownership stake in Venezuela's oil industry, potentially giving American companies access to a massive resource base, Marc Caputo of Axios. While strategically significant, the production impact would likely take years to materialize, according to two U.S. officials. "President Trump is close to securing America's energy future for generations to come, not just in the U.S. but in the hemisphere," one of the officials says. Publicly traded companies in the space include BP, Chevron, ConocoPhillips, Exxon Mobil, Shelland TotalEnergies.MEAT PROCESSORS:President Donald Trump said in aon Truth social that, "Ranchers and Farmers have always been a number one priority for me. They work very hard, are smart, efficient, and immaculately CLEAN, but for years I have heard that they have had a tremendous problem with the Big Processors, who many say are a nasty Monopoly. There are, essentially, 4 of them, a very non competitive number, and they make life miserable for our wonderful Farmers and Ranchers, and I can't let that happen, can I? So, in order to break this powerful monopoly, with much of its ownership based outside of the U.S., I am authorizing legal documents to be drawn in order to allow Farmers and Ranchers to be given the right to PROCESS THEIR OWN FOOD. This should move quickly. Thank you for your attention to this matter! President DONALD J. TRUMP." Shares of Tyson Foodsand Pilgrim's Pridetraded lower on Friday. Other publicly-traded meat processors include JBSand Smithfield Foods.'HOTTEST' COMPANY:President Donald Trump said in aon Truth Social that, "GREAT NEWS! Micron, one of the 'HOTTEST' Companies in the World, just announced a MASSIVE 10 BILLION DOLLAR Investment in new Research Labs right here in America. They are keeping us at the absolute forefront of A.I. and Advanced Computing! Combined with their previous TREMENDOUS 250 BILLION DOLLAR commitment, they are creating over tens of thousands of Great American Jobs. We are bringing Critical Technologies BACK to the U.S.A. Because of our Great Policies, Companies are investing TRILLIONS. I have made it clear that America will lead the way to a new Golden Age of Science. The results speak for themselves: During my Administration, Companies are investing TRILLIONS of Dollars because they know the United States is the best place in the World to Build, Invent, and Grow. Congratulations to Micron's fantastic CEO, Sanjay Mehrotra. We are strengthening our Economy and WINNING BIG! The Golden Age of America is HERE. MAGA! President DONALD J. TRUMP."OUTSIDE EO:Wells Fargo notes that following the recent foreign inverter ban, the Trump administration issued an Executive Order increasing scrutiny of foreign-sourced grid equipment. While investor concerns are centered on Generac'suse of Baudouin engines in its 2.25-3.25 MW generator platform, the firm believes the company is largely outside the scope of the EO. With that said, Wells awaits DOE guidance to determine the ultimate impact. The firm has an Overweight rating on the shares with a price target of $280.DEAL WITH IRAN:The Trump administration has told mediators it has no interest in going back to the terms of the memorandum of understanding it reached with Iran in June, people familiar with the matter told's Summer Said, Alexander Ward and Benoit Faucon. President Trump is willing to wait and see if a policy of squeezing Iran economically bears fruit, the sources said.FAVOR WITH DEMOCRATS:Some U.S. companies with close ties to President Trump are trying to gain favor with Democrats in case they become targets if Republicans lose control of the House, Annie Linskey and Emily Glazer of The Wall Street Journal. Big tech companies are preparing for congressional and criminal investigators, some advisers, lobbyists, and board members told the Journal. Metaand others are writing big checks for Democrats; Paramount, Kalshi, and others are hiring former Democratic aides to bolster government relations; and Meta and Palantirare among the companies concerned about future requests for information, congressional hearings, and subpoenas, sources told the Journal. Additionally, executives from Amazon, Chevron, Pfizer, UnitedHealthand others attended a summer seminar hosted by the U.S. Chamber of Commerce that focused on "managing potential congressional oversight and investigations," according to documents reviewed by the Journal.AI REGULATOR:The Trump administration's proposed AI self-regulatory body appears to be stalling, suggesting uncertainty around the administration's approach to AI oversight, The Information's Leo Schwartz. A formal framework could still emerge, but the delay reinforces the broader regulatory vacuum as states continue pursuing their own AI rules, according to the report.
Major Averages Close Broadly Lower as Investors Await CPI Report
The major averages closed broadly lower as reported progress in talks between Iran and Oman over maritime activity helped pull oil prices lower after Brent briefly approached $90 a barrel amid the latest U.S.-Iran tensions.Next up, investors await tomorrow's July CPI report, which will be particularly important following last week's unexpectedly weak July jobs report, with economists surveyed by Reuters expecting headline inflation to rise 3.4% year over year and core CPI to increase 2.5%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiaannounced strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKRtofor the buildout of AI infrastructureIntelincreased theto $20B in common stock from $15BRocket Lab USAreportedand launched a German subsidiaryCardinal Healthreportedand provided upbeat FY27 guidanceAlphabetCEO Sundar Pichai said over $1B people are2. WALL STREET CALLS:Boeingto Buy from Hold at ArgusTruistBest Buyon positive card reads into Q2 reportCitiAllstateto Sell on valuation, growth concernsUnder Armourto Underweight at BarclaysGapto Equal Weight at Barclays3. AROUND THE WEB:Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring from Appleafter more than two decades at the company, Bloomberg reportsA judge is leaning towards sending Edison'sliability issue to a jury trial, Bloomberg saysACV Auctionsis exploring strategic alternatives, including a potential sale or strategic partnership, after receiving takeover interest and engaging financial advisers to conduct a review, Bloomberg reportsFlowers Foodswants to divest its baked goods business Tastykake and is working with investment bank RBCon the process, Reuters reportsAnthropic is meeting with potential investors hoping to build confidence in its planned IPO, offering assurances about its growth and strategies it plans to implement to address growing backlash against AI, WSJ says4. MOVERS:Quantum Corp.gains afterand providing guidance for Q2Fermiincreases after announcing aKopinand Sea Limitedhigher in New York afterOn Holdingsfalls afterand providing guidance for FY26OppFiand Upworklower after5. EARNINGS/GUIDANCE:Middleby, with EPS and revenue beating consensusTencent MusicAramarkand raised its outlook for FY26Smithfield Foodsand raised its outlook for FY26Janusand cut its guidance for FY26INDEXES:The Dow fell 184.13, or 0.34%, to 53,791.85, the Nasdaq lost 159.91, or 0.60%, to 26,445.45, and the S&P 500 declined 24.91, or 0.32%, to 7,728.20.
Major Averages Dip Slightly as Investors Await CPI Report
The major averages were a little lower near noon as traders digest another slate of corporate earnings and continue to weigh progress towards potentially reopening the Strait of Hormuz. Progress in talks between Iran and Oman over maritime activity has helped pull oil prices lower after Brent briefly approached $90 a barrel amid the latest U.S.-Iran tensions.Meanwhile, investors await the July CPI report, with economists surveyed by Reuters expecting headline inflation to rise 3.4% year over year and core CPI to increase 2.5%. The report will be particularly important following last week's unexpectedly weak July jobs report, which showed payrolls falling by 23,000 and prompted markets to sharply reduce expectations for a September Fed rate hike. A hotter-than-expected CPI reading could push those expectations back in the opposite direction.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiaannounced strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKRtofor the buildout of AI infrastructureIntelincreased the size of itsin common stock from $15BHims & Hersreportedbut provided an upbeat outlook for Q3 and FY26 revenueRocket Lab USAreportedand launched a German subsidiaryCardinal Healthreportedand provided upbeat FY27 guidance2. WALL STREET CALLS:Boeingto Buy from Hold at ArgusTruistBest Buyon positive card reads into Q2 reportCitiAllstateto Sell on valuation, growth concernsUnder Armourto Underweight at BarclaysGapto Equal Weight at Barclays3. AROUND THE WEB:Brazilian police have named two Goldman Sachsemployees as suspects in an alleged fraud tied to Oncoclinicas, alleging the bank concealed ownership details and transferred shares to Centaurus in a way that harmed minority shareholders, FT saysACV Auctionsis exploring strategic alternatives, including a potential sale or strategic partnership, after receiving takeover interest and engaging financial advisers to conduct a review, Bloomberg reportsAppleis still planning to launch iPhone Pro models next year that will make use of a new glassy look for the device's 20th anniversary, Bloomberg saysFlowers Foodswants to divest its baked goods business Tastykake and is working with investment bank RBCon the process, Reuters reportsAnthropic is meeting with potential investors hoping to build confidence in its planned IPO, offering assurances about its growth and strategies it plans to implement to address growing backlash against AI, WSJ says4. MOVERS:Quantum Corp.gains afterand providing guidance for Q2Fermiincreases after announcing a bindingKopin (KOPN) and Sea Limitedhigher in New York afterOn Holdings (ONON) falls afterand providing guidance for FY26OppFiand Upworklower after5. EARNINGS/GUIDANCE:Middleby, with EPS and revenue beating consensusTencent MusicAramarkand raised its outlook for FY26Smithfield Foodsand raised its outlook for FY26Janusand cut its guidance for FY26INDEXES:Near midday, the Dow was down 34.92, or 0.06%, to 53,941.06, the Nasdaq was down 96.21, or 0.36%, to 26,509.15, and the S&P 500 was down 10.44, or 0.13%, to 7,742.67.
Smithfield Reports Q2 Revenue of $3.7B, Exceeds Consensus
Reports Q2 revenue $3.7B, consensus $3.65B. "We delivered record first half operating and adjusted operating profit despite a challenging external environment, demonstrating the strength of our vertically integrated business model, the power of our brands and our team's disciplined execution," said Smithfield president and CEO Shane Smith. "Our results reflect solid performance across the business, continued market share gains in key branded categories and strong operating cash flow generation."
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