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S&P 500 companies completed a strong second-quarter earnings season with a 52% aggregate profit surge, substantially boosted by mark-to-market gains at major technology firms investing in artificial intelligence.
Capricor Therapeutics stock surged 58% after the FDA agreed to review additional data for its Duchenne muscular dystrophy treatment, though significant regulatory uncertainties remain unresolved.
Reddit shares climbed 12.6% to $178.09 after S&P Dow Jones Indices announced the social-media company’s inclusion in the S&P 500, with index-tracking funds requiring exposure equivalent to about 16.7 million shares.
Fabrinet beat fiscal fourth-quarter earnings estimates with record $1.316 billion revenue and raised guidance, yet shares fell 6.9% after hours amid higher market expectations driven by AI enthusiasm.
XP Inc. reported managerial net revenue of R$4.884 billion, beating estimates, though shares declined after hours. The company is exploring a U.S. banking operation while managing growth in its Brazilian business.
BHP Group’s copper operations generated $18.19 billion in underlying EBITDA for the year ended June 30, surpassing iron ore’s $14.53 billion and marking a significant shift in the company’s earnings composition.
