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Vale Shares Jump 4% on Ambitious Iron Ore Output Target
Vale's stock climbed 4% after the miner announced a 2026 iron ore production target that could require a 13% increase in output. The company's Q2 results showed strong margins, but cost pressures remain a concern.
Oil Rebounds Above $91; Tech Futures Cede Early Gains
Oil rebounded above $91, while tech futures gave up early gains. Snowflake surged 23% on raised outlook, but Broadcom and HPE declined on guidance concerns.
MARA Stock Gains 2.3% as Bitcoin Dips Below $78,000, Miners Outperform
MARA Holdings rose 2.35% to $10.47, but underperformed rivals as bitcoin traded below $78,000. Q2 revenue fell 27% and energy costs per bitcoin surged 14.7%.
AT&T Projects $18B Free Cash Flow, Signaling 10% Yield
AT&T projects 2026 free cash flow above $18 billion, implying a 10.1% yield at current prices. Q2 added over a million subscribers, and buybacks continue.
SoFi Surges on Scotiabank's $25 Target, Fee Revenue Growth
SoFi shares jumped 4.6% after Scotiabank set a $25 price target, citing its growing fee-based revenue stream. The stock closed at $17.84, with analysts split on the rerating.
Meta Stock Climbs Despite Surging Costs and AI Spending
Meta Platforms (META) shares advanced 2.5% despite a 55% cost surge, as investors focus on AI-driven growth. Q2 revenue rose 28% but operating margin fell to 31%.
Ambev ADRs Surge 3.5% on Brazilian Market Rally
Ambev ADRs climbed 3.5% on a broad Brazilian market rally, with the real's strength driving most gains. Q2 results showed solid growth, but analyst targets imply modest upside.
Wayve Launches Paid Robotaxi Service in London with 15 Cars
Wayve kicked off paid autonomous rides in London with just 15 vehicles, testing its $8.6B valuation. The limited fleet faces a huge demand gap with 100,000 interested customers.
India Q1 GDP Beats Forecast But Oil Prices Cap Market Gains
India's GDP grew 7.8% in Q1, beating forecasts, but oil prices near $95 limited equity gains. Special FX inflows of $136.4B provided a buffer.
Vodafone Launches TV Service to Counter Mobile Subscriber Decline
Vodafone (VOD) unveiled a new TV bundle to combat a 73,000 drop in mobile contracts, while shares rose 2.2%. The service launches in October with 200+ channels and streaming apps.
Long-Dated UK Yields Steady Near Heights as Fiscal Worries Persist
UK 30-year gilt yields remain near record highs as fiscal and inflation worries persist. The 10-year yield surpasses year-end survey projections, with BoE meeting and budget due.