Earnings season is teaching the market some hard lessons about growth assumptions this week. Energy names keep collecting while oil holds near $80.

Netflix reports after the bell tonight, and today's edition has every name worth knowing ahead of that.

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Markets

The broader earnings picture is solid — 87% of reporting S&P 500 companies are beating estimates — but healthcare stocks broadly sold off today after Intuitive Surgical's procedure growth data flagged that elective surgery demand is more insurance-dependent than investors had priced in.

Energy and industrial names continue to lead as oil holds near $80 with no Hormuz resolution in sight, and names tied to Southeast Asian infrastructure are quietly having a strong month.

Netflix reports after the close tonight, the most watched event left in July, with AI content spending and subscriber growth the two numbers that will set the tone for streaming heading into the second half.

American Airlines and several other carriers are also in the earnings queue this week, and jet fuel near $80 a barrel is making margin forecasts feel like educated guesswork. The UK-US trade deal moved closer to Senate ratification today — the first major bilateral agreement to reach that stage since the tariff era began.

  • DJIA [-0.77%]

  • S&P 500 [-1.01%]

  • Nasdaq [-1.40%]

  • Russell 2000 [-0.46%]

Market-Moving News

Corporate Leadership & Strategy

Bank of America Expands AI Leadership

Bank of America named Kevin Milsom to lead AI transformation across its global-markets platforms as part of a wider leadership reorganization covering analytics, digital assets, automation, and generative AI deployment.

The bank also moved Amy Avery’s Analytics, Modeling & Insights team into the global platforms unit.

It appointed Sonali Theisen to lead its digital-assets platform, giving the division clearer oversight as it expands data-driven tools and productivity programs across the markets business.

Walmart Names New U.S. Operations Chief

Walmart named Kyle Kinnard as chief operating officer of its U.S. business, replacing Kieran Shanahan as CEO John Furner continued a broader management reshuffle across Walmart and Sam’s Club.

Kinnard previously served as COO of Walmart International and brings more than 25 years at the retailer, while the leadership change supports a strategy centered on marketplace growth, faster delivery, stronger digital operations, and deeper appeal among higher-income shoppers across the United States.

Digital Platforms & Data Services

Meta Explores $10 Billion Anthropic Compute Deal

Meta entered talks to lease AI computing capacity to Anthropic through a potential two-year agreement worth as much as $10 billion, turning part of its massive infrastructure spending into a new source of revenue.

Anthropic proposed monthly payments with options for either company to exit early, while the arrangement would place Meta against cloud specialists including CoreWeave and Nebius as demand for high-performance AI computing continues to grow.

Trump Media Prices Premium Truth Social Data Feed

Trump Media discussed charging trading firms as much as $100,000 per month for its Truth API, a premium service providing rapid access to influential Truth Social posts that can move financial markets.

The feed would deliver machine-readable posts within milliseconds and operate around the clock, giving hedge funds and algorithmic traders faster access than standard public notifications while creating a new subscription-based revenue stream for the Nasdaq-listed company.

Aerospace & Defense Manufacturing

Albany Develops Next-Generation Aircraft Composites

Albany Engineered Composites partnered with A&P Technology to develop advanced braided composite manufacturing systems for commercial aircraft, military platforms, advanced air mobility vehicles, combat aircraft, and rocket components.

The collaboration combines A&P’s braided reinforcement technology with Albany’s resin-transfer molding expertise to produce larger lightweight structures, reduce assembly complexity, and support the higher manufacturing volumes required for future aerospace and defense programs.

Optex Wins Armored-Vehicle Equipment Order

Optex Systems secured a $1.2 million order from General Dynamics Land Systems Canada to support optical equipment used on the Canadian Light Armored Vehicle weapon system through the end of 2029.

The contract lifts the Texas-based manufacturer’s total order backlog above $28.3 million and extends its role in supplying precision optical sighting equipment for military vehicles used by General Dynamics and government defense customers.

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Corporate Finance & Portfolio Moves

ACI Worldwide Explores $1.5 Billion Unit Sale

ACI Worldwide began exploring a sale of its billing-software division in a transaction that could value the business at about $1.5 billion, as the payments provider works with advisers and holds preliminary discussions with private-equity firms.

A divestment would leave the Nasdaq-listed company more focused on payments software, while the billing unit generated about $818 million in revenue and $141 million in adjusted EBITDA in 2025 for corporate clients.

CoreWeave Launches $2.6 Billion Term Loan

CoreWeave launched a $2.6 billion term loan as the AI-cloud company continued raising capital to support its infrastructure-heavy expansion, including new data centers, high-performance computing equipment, and additional capacity for major artificial-intelligence customers.

The financing adds another large debt package to CoreWeave’s funding strategy as the Nasdaq-listed company races to build sufficient computing power to meet growing demand while competing with established cloud providers and other specialist AI infrastructure operators.

Pharma & Drug Development

Novo Nordisk Prepares Lower-Cost Ozempic Version

Novo Nordisk will launch Extensior, a lower-cost authorized version of Ozempic in South Africa on July 27 through a partnership with Acino, expanding access to semaglutide treatment for type 2 diabetes.

The medicine uses the same active ingredient, manufacturing process, injection device, and dosage options as Ozempic, while Novo said its price will be lower than the branded product at launch.

Incyte Advances Cancer Drug Pipeline

Incyte will present Phase 1 data from six oncology programs at the ESMO Congress, including an oral KRAS G12D inhibitor and a bispecific antibody.

Both candidates are being studied in Phase 3 programs for advanced pancreatic and colorectal cancers, expanding Incyte’s pipeline across difficult-to-treat solid tumors and strengthening its push into precision oncology ahead of the October medical meeting.

Top Winners and Losers

Sadot Group [SDOT] $25.30 (+77.54%)

Sadot Group is a food commodities trading and agriculture company that has been a one-name momentum story all summer, repeatedly running 40-80% in single sessions.

The stock has gone from $18 to over $25 in the latest cycle on 12x average volume. At $18.92 million in market cap, even small capital flows produce large percentage moves.

American Well [AMWL] $13.23 (+20.82%)

American Well powers virtual care programs for over 80 major US health systems and has been one of telehealth's most resilient survivors after the post-COVID sector collapse.

The stock jumped 18% today at $13.00 on volume running at 2.81x average, a sign of active institutional repositioning rather than retail momentum. The platform serves a customer base that isn't going anywhere.

Phoenix Asia Holdings [PHOE] $31.32 (+19.77%)

Phoenix Asia Holdings runs industrial services and energy infrastructure across Southeast Asia and is catching a sustained bid as oil prices remain elevated near $80 and regional energy investment accelerates.

The stock is at $699 million in market cap and running at 1.47x volume — institutional positioning, not just momentum. Three sessions in the top winners list this month tell you this is not a coincidence.

QumulusAI [QMLS] $14.28 (-33.36%)

QumulusAI is a technology services company with a $411 million market cap that fell 39% today on 218K volume. The stock had been building institutional positioning since listing, but today's decline reflects the kind of revaluation that hits newly public AI infrastructure names when sector sentiment shifts and early holders rotate out.

The AI infrastructure trade is selective, and QMLS fell on the wrong side of that today.

JX Luxventure Group [JXG] $9.00 (-21.74%)

JX Luxventure is a Chinese consumer company with a $108.54 million market cap, down 21% on minimal volume today. The stock reflects the ongoing pattern of Chinese-listed US equities experiencing sharp reversals after momentum runs, without durable fundamental anchors to hold the gains.

The numbers from the TradingView list tell the story: $9.00, -21.74%, 9.67K shares traded.

Apollomics [APLM] $18.52 (-20.41%)

Apollomics is a clinical-stage oncology company that has been steadily giving back its June momentum gains through mid-July.

Today, down 21% at a $40.34 million market cap as the healthcare rotation that lifted it through June has moved into larger-cap names with more near-term catalysts. Strong Buy rated.

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Everything Else

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

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Adam G.
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