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Family offices increased stock holdings to 37% of portfolios in the second quarter, up from 34% in the first quarter, while trimming exposure to private markets and real estate.
SIGA Technologies reported a 65% profit decline for the second quarter as a major government contract concluded, though the company remained profitable and paid a special dividend to shareholders.
Voya Financial reported declining second-quarter earnings amid severance costs, though its retirement and investment management segments showed strong asset growth and fee revenue increases.
Protagonist Therapeutics swung to a $162.8 million profit in the second quarter, boosted by milestone payments from its psoriasis drug ICOTYDE and the injectable rusfertide awaiting FDA approval.
Wynn Resorts reported second quarter net income more than doubling to $140.1 million, though profitability declined at three of four properties outside Macau’s strong performance.
Stock markets have experienced choppy trading with limited upside progress, yet the VIX volatility index continues declining, creating a disconnect that confuses market participants seeking to understand current conditions.
