PayPal had its best day since 2015 on a $53 billion takeover offer. BlackRock crossed $15 trillion in assets while SpaceX fell below its IPO price. 

Today's edition has every move worth knowing, including names running on oil, a 30% bounce-back, and a biotech that got an FDA approval and still fell.

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Markets

Stripe and Advent offered $60.50 a share for PayPal, giving it the best single session since the eBay spin-off in 2015. Michael Burry immediately declared the bid too low and pegged intrinsic value closer to $115, which is how you know people were paying attention.

BlackRock crossed $15 trillion in assets for the first time after hauling in $192 billion in new client money in Q2, with Larry Fink calling the global market outlook "very optimistic," a phrase that carries more weight from the person managing more money than most countries' GDP. 

SpaceX dipped below its $135 IPO price for the first time since going public, touching $132.15 before recovering, the kind of moment that gets noted regardless.

ASML raised its chip equipment guidance for the second time and reported record orders, a reassuring sign that AI infrastructure capex is still accelerating at the equipment level even as chip stocks broadly fell.

June's CPI fell 0.4% month-over-month, bringing annual inflation to 3.5% — cooler than the 3.8% economists expected, and July rate-hike odds dropped from 42% to 17%.

  • DJIA [+0.29%] 

  • S&P 500 [+0.38%] 

  • Nasdaq [+0.62%] 

  • Russell 2000 [+0.42%]

Market-Moving News

Deals & Acquisitions

PayPal Draws $53 Billion Takeover Bid

PayPal became the target of a $53 billion takeover proposal from Stripe and Advent International, with the buyers offering $60.50 per share, about 30% above Friday’s closing price.

PayPal had not accepted the approach, which arrived as the payments company worked through a turnaround under CEO Enrique Lores.

The offer pushed PayPal shares sharply higher and drew fresh attention to a business valued at nearly $42 billion, far below its 2021 peak. Management has been reorganizing operations and targeting at least $1.5 billion in cost reductions.

Apple Explores Chip Deals to Strengthen AI Servers

Apple approached chip startups and bankers about possible acquisitions as it tried to improve server processors used for AI workloads. The company was exploring multiple chip-company deals after facing performance limits with internal AI servers running on M2 Ultra processors.

A future server chip, known internally as Baltra, was reportedly delayed, while parts of Apple’s revamped Siri had to run on Nvidia chips via Google’s cloud infrastructure. Reuters could not independently verify the report, and Apple did not comment.

Asset Management & Banking

BlackRock Becomes First Firm to Manage $15 Trillion

BlackRock became the first investment firm to manage more than $15 trillion in assets, reaching a record $15.3 trillion during the second quarter. Strong markets and $192 billion in new client money lifted assets by more than $1 trillion in three months.

Quarterly net income rose 20% to $1.9 billion, while base management fees increased 8%. BlackRock shares climbed more than 7% after the results.

Morgan Stanley Posts Record Quarter as Deal Activity Surges

Morgan Stanley reported record quarterly revenue of $21.3 billion, beating Wall Street’s $19.7 billion estimate as investment banking and wealth management delivered strong growth. Adjusted earnings reached $3.46 a share, compared with the $2.93 forecast.

Its institutional securities division generated a record $11 billion, supported by dealmaking and trading. Wealth management attracted $148 billion in new assets, lifting total client assets across wealth and investment management to $10 trillion.

Pharmaceuticals & Biotech

J&J Says Icotyde Launch Is Beating Expectations

Johnson & Johnson said its oral psoriasis drug Icotyde was delivering one of its strongest recent product launches after entering the U.S. market in March. The once-daily pill gives patients an alternative to injectable treatments.

Icotyde adds another growth product as J&J manages declining Stelara sales following increased biosimilar competition. The company said the new treatment was gaining traction faster than expected.

Celcuity Delays Launch of Its First Approved Drug

Celcuity delayed the U.S. launch of Revtorpyk until the third quarter after winning its first FDA approval for the breast cancer drug. The company said it wanted sufficient supply available before distribution began.

The FDA cleared Revtorpyk for certain patients with HR-positive, HER2-negative metastatic breast cancer. The approval opened Celcuity’s first path to market, but the delay and safety-label concerns sent its shares down more than 15%.

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Internet & Platforms

Amazon Takes Leo Satellite Internet to South Africa

Amazon partnered with Herotel to launch Amazon Leo in South Africa in 2027, marking its first satellite internet agreement in Africa. The service will target households and businesses in a market where many communities still lack reliable fixed broadband.

The agreement gives Amazon an early route into Africa’s satellite internet market. The company also plans to work with Vanu Inc. to expand mobile connectivity elsewhere on the continent.

X Wins EU Approval for Transparency Plan

The European Union accepted X’s transparency action plan under the Digital Services Act, which requires the platform to improve researchers' access to data and to submit its measures to an independent external audit. X has six months to implement the commitments.

The agreement places X under enhanced EU supervision. The measures are designed to provide greater visibility into the platform’s systems, systemic risks, and broader impact on users and European society.

Media & Streaming

Universal Builds Box Office Momentum With The Odyssey

Universal is preparing to release Christopher Nolan’s The Odyssey after the film generated a record number of advance ticket sales worldwide. The movie opens Friday and is the first feature filmed entirely with IMAX 70mm cameras.

The Comcast-owned studio backed the production with an estimated $250 million budget. Analysts expected an opening of $100 million to $125 million in North America and up to $200 million globally.

Netflix Adds Creator Videos as YouTube Rivalry Grows

Netflix expanded beyond traditional shows and movies by adding creator programming, podcasts, and short-form video. The company is introducing videos from Bon Appétit, Variety, Cosmopolitan, Rhett and Link, and other online creators.

The new programming includes videos running from three to 20 minutes. Netflix is also investing in live sports as it competes with YouTube for viewing time and advertising demand.

Top Winners and Losers

Nuvee Holding [NVVE] $21.57 (+36.46%)

Nuvee's vehicle-to-grid platform is now on a remarkable multi-session streak as oil prices remain elevated near $80 and the case for EV-related infrastructure keeps building.

Every day crude holds above prewar levels is another data point for Nuvee's thesis. Thin float, real thesis, momentum that has lasted longer than most expected.

Julong Holding [JLHL] $10.75 (+36.08%)

Julong is back on the winners list for what feels like the tenth time this summer. The Chinese commercial services company has been running this exact cycle: sprint up, crash down, repeat.

No fundamental change on either side. At $225 million market cap and 91K shares trading, the move is all positioning.

Lucid Group [LCID] $5.95 (+28.79%)

Lucid fell 15% yesterday after a report suggested the company might seek bankruptcy, and today the stock bounced back 28% as the market decided the concern was overstated for a Saudi-backed EV maker with committed government backing.

The underlying business hasn't changed in 24 hours. The gap between yesterday and today is entirely sentiment.

SANUWAVE Health [SNWV] $7.27 (-39.21%)

SANUWAVE announced on July 13 that Q2 revenue would come in at $9.6M-$9.8M, well below its original guidance of $11.1M-$11.6M and below even the revised guidance it had already cut in June. The wound care device company cited market pressures, and today the full selloff from that news landed. When a company cuts guidance twice in the same quarter, the market runs its own math.

Gorilla Technology [GRRR] $11.89 (-29.10%)

Gorilla Technology builds AI-powered video intelligence and edge surveillance systems for enterprise clients, putting it squarely in the category IBM identified yesterday as the one getting defunded.

IBM's warning that enterprise clients are redirecting software budgets toward AI hardware is hitting every company whose revenue depends on enterprises paying for AI software. Strong Buy rated at $327 million, but the sector read is doing the damage today.

Twin Vee PowerCats [VEEE] $26.59 (-30.95%)

Twin Vee ran more than 400% on Monday on its USFM merger announcement and is now giving back a third of that.

The deal is still real: LOI signed, boards approved, Q3 2026 close expected. But the gap between what the deal is worth and what the stock traded at on Monday is closing. This is the decompression phase.

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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! 

Best Regards,
Adam G.
Elite Trade Club

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