By Sneha S K (Reuters) -Kenvue cut its annual sales forecast on Thursday, as the consumer health company undergoes a strategic review aiming to boost brand performance amid a cautious spending environment. The company, spun off from Johnson & Johnson (NYSE:JNJ) in 2023, has been working to shore up profitability, especially in its struggling skin health and beauty unit that houses brands such as Neutrogena and Aveeno. Wall Street analysts view the Band-Aid maker as an acquisition target after it came under pressure from investors, who have criticized the lackluster performance in those segments. Kenvue (NYSE:KVUE) ousted its CEO Thibaut Mongon in July, which some investors expect would be the groundwork for an eventual sale of the entire company or pieces of it. The company, which named Kirk Perry as its interim chief, said on Thursday its previously announced strategic review continues to advance and the board is considering a broad range of potential alternatives. It had also appointed former Kellanova (NYSE:K) executive Amit Banati as its finance chief in May. Kenvue’s executives on a post-earnings call emphasized on leveraging their prior experience in consumer companies to improve its performance to deliver reliable and consistent results. "I clearly see the opportunity where I can step in and make a difference right away, drawing on my past experiences," Perry said. The Tylenol maker expects its 2025 net sales to be down low-single-digits, compared with its prior expectation of a 1% to 3% increase. It said the cautious sentiment of consumers has been factored into the forecast. "Kenvue is clearly a ’show me’ story and must demonstrate sequential improvement/consistent delivery in order for shares to rate higher," said RBC Capital Markets analyst Nik Modi. The company forecast annual adjusted profit to be in the range of $1.00 to $1.05 per share, below analysts’ estimate of $1.13 per share, according to data compiled by LSEG. It posted adjusted profit per share of 29 cents during the second quarter, compared with the estimate of 28 cents. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if JNJ is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

(Reuters) -Derivatives exchange Cboe Global Markets (NYSE:CBOE) beat Wall Street estimates for second-quarter profit on Friday, as looming economic uncertainties fueled market turmoil and boosted options trading. Investors and portfolio managers rushed to hedge their positions during the period, responding to a spike in market volatility fueled by renewed geopolitical tensions in the Middle East and unpredictable tariff policies. Cboe’s options trading business revenue jumped 19% to $364.8 million, while Europe and Asia-Pacific revenue climbed 30% to $70 million. The company has "achieved another quarter of record net revenue and strong adjusted earnings growth, highlighting the durability across our exchange ecosystem", said Chief Financial Officer Jill Griebenow. Cboe wrapped up a strong quarter for U.S. exchanges such as CME Group (NASDAQ:CME), Nasdaq and Intercontinental Exchange (NYSE:ICE). Heightened market volatility lifted trading volumes, marking a robust period of activity for the industry. Average daily volume in index options hit 4.7 million contracts during the quarter ended June 30, compared with 4 million a year earlier. Cboe’s adjusted net income rose to $257.8 million, or $2.46 per share, from $226.2 million, or $2.15 per share, a year earlier. Analysts on average estimated $2.42 per share, according to data compiled by LSEG. The company’s net revenue rose 14% to a record high of $587.3 million, also beating the estimate of $576.2 million. Last week, Cboe announced plans to wind down its Japanese equities business, citing challenges to financial sustainability. Its shares have risen 23.4% this year, compared with a gain of 19.8% and 24%, for CME and NYSE-parent Intercontinental Exchange, respectively. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if ICE is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

(Reuters) -PG&E Corp on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility’s wildfire fund expense increased from a year earlier. PG&E (NYSE:PCG) has been blamed for sparking numerous wildfires, including some of California’s most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E’s total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if PCG is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

(Reuters) -Refiner HF Sinclair beat Wall Street estimates for second-quarter profit on Thursday, helped by higher refining margins. Top U.S. refiners were expected to post higher second-quarter profits, rebounding from first-quarter losses as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy (NYSE:VLO) surpass Wall Street estimates. Fuel makers have seen an unexpected boost in profits from key products in recent months, offering relief after earnings retreated from 2022 highs driven by a post-pandemic demand rebound and supply disruptions following Russia’s invasion of Ukraine. The company reported adjusted profit of $1.70 per share for the three months ended June 30, compared with analysts’ average estimate of $1.02 per share, according to data compiled by LSEG. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if VLO is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

By Karl Plume (Reuters) -U.S. grain trader and processor Bunge (NYSE:BG) Global reported a smaller-than-expected drop in second-quarter profit on Wednesday after soy crush margins jumped late in the quarter. The world’s largest oilseed processor benefited as soybean prices dropped and soyoil prices rallied on favorable biofuel policy moves in the United States and Brazil. Better results in Bunge’s grains and oils merchandising business also blunted the negative impact from ongoing global trade uncertainty as U.S. President Donald Trump’s tariff threats upended global commodity flows. Bunge shares were up 2.85% at $78.56 in early trading. "We successfully navigated a highly complex period, both internally and externally, and delivered better-than-expected results for the quarter, especially given the market conditions," CEO Greg Heckman said. The earnings beat came as Bunge secured final regulatory approvals for its long-delayed deal to acquire grain handler Viterra, a transaction that officially closed at the start of the third quarter on July 2. It also completed the sale of its U.S. corn milling business. Bunge maintained its 2025 earnings guidance of $7.75 per share, which would be its lowest in six years, but said it would update it to include the Viterra merger prior to reporting third-quarter results. Bunge and agribusiness peers including Archer-Daniels-Midland and Cargill have seen profits erode in recent quarters due to ample global crop supplies and thinning margins. Trade tensions stoked by Trump’s tariffs have further disrupted trade flows as importing nations bought hand to mouth amid the U.S. president’s shifting deadlines for imposing duties. Meanwhile, biofuel policy uncertainty dented demand for green energy feedstocks like soybean oil, although proposed increases for biofuel blending in the U.S. and Brazil was supportive in the longer term for Bunge. "We expect challenging conditions to persist," said CFRA analyst Arun Sundaram, citing tariffs and inflation. "We anticipate more clarity on biofuel policy in coming quarters, which could provide some relief to the current soft macro environment." Bunge posted an adjusted profit of $1.31 per share for the three months ended June 30, compared with analysts’ average estimate of $1.14, according to data compiled by LSEG. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if BG is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

(Reuters) -American Electric Power beat Wall Street estimates for second-quarter profit on Wednesday, and said it expects to announce a new, five-year capital plan this fall of about $70 billion to meet growing energy needs in the U.S. Shares were up 1% at $110.34 in premarket trading. In April, the U.S. Energy Information Administration (EIA) said U.S. power consumption will hit new record highs in 2025 and 2026, on the back of data centers dedicated to artificial intelligence and cryptocurrency, encouraging power producers to ramp up investments. Earlier this year, the company said it was considering adding $10 billion to its $54 billion five-year capital plan as demand for data centers ramped up in the U.S. electric utility’s service areas. The company’s quarterly profit beat was on the back of higher electricity rates, which utility firms obtain by using rate case proceedings to seek power price increases, basing their appeals on their investments or expenses incurred in delivering services. The Colombus, Ohio-based company reported an adjusted profit of $1.43 per share for the quarter ended June 30, compared with analysts’ average estimate of $1.27 per share, according to data compiled by LSEG. The utility reaffirmed its full-year adjusted profit forecast in the range of $5.75 to $5.95 per share, and added that it now expects it in the upper half of that range. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is AEP one of them?

(Reuters) -Refiner Phillips 66 (NYSE:PSX) beat Wall Street estimates for second-quarter profit on Friday, helped by higher refining margins and lower turnaround expenses. Top U.S. refiners were expected to post higher second-quarter profit, rebounding from losses in the prior quarter as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy (NYSE:VLO) surpass Wall Street estimates. Fuelmakers have seen an unexpected boost in profit from key products in recent months, offering relief after earnings retreated from 2022 highs, driven by a post-pandemic demand rebound and supply disruptions following Russia’s invasion of Ukraine. The company’s realized margin per barrel was up at $11.25 in the quarter, compared with $10.01 from a year earlier, while turnaround expenses were down at $53 million from $100 million. The company reported an adjusted profit of $2.38 per share for the three months ended June 30, compared with analysts’ average estimate of $1.71, according to data compiled by LSEG.

By Arasu Kannagi Basil and Lananh Nguyen (Reuters) -Investment bank Lazard (NYSE:LAZ) surpassed Wall Street estimates for second-quarter profit on Thursday, as a rebound in dealmaking helped power record revenue in its advisory business. Dealmaking activity bounced back sharply in May and June, after grinding to a halt in April as uncertainty over U.S. tariffs weighed on corporate confidence. Lazard’s financial advisory revenue jumped 21% to $497 million in the reported quarter, driven by robust activity in Europe. "We are super busy," CEO Peter Orszag told journalists on a conference call. "We also see an increasingly constructive environment for dealmaking going forward." The largest U.S. banks last week struck an optimistic tone about the outlook for the rest of the year after their profits beat expectations. Investment banking fees rose 13% at Citigroup (NYSE:C), 7% at JPMorgan, 26% at Goldman Sachs, and 9% at Wells Fargo. Lazard had advised Belgian healthcare REITs Aedifica and Cofinimmo (EBR:COFB) on their $13.8 billion merger during the second quarter. In July, the company advised Italy’s Ferrero on its $3.1 billion deal for Froot Loops maker WK Kellogg. Lazard has hired 14 managing directors in 2025 after setting an earlier target to add 10 to 15 per year, as part of its goal to double revenue by 2030. On an adjusted basis, the company earned 52 cents per share in the quarter, beating expectations of 40 cents, according to estimates compiled by LSEG. Adjusted revenue jumped 12% to $770 million, topping estimates of $683.4 million. TURNAROUND TAKES ROOT In asset management, Lazard registered net inflows of $677 million in the latest reported quarter, after grappling with outflows since the second quarter of 2023 that had stoked concerns among investors. Analysts say the inflows could be an early signal of a turnaround for the business. "Asset management achieved positive net flows in the quarter and record gross inflows for the first half of the year, demonstrating progress towards our goal for this year to serve as an inflection point for the business," Orszag said in the earnings statement. Orszag told journalists there are inorganic growth opportunities on the asset management side, but Lazard has not yet found the "right match." Asset management provides a durable source of revenue and helps diversify revenue from investment banking businesses that are driven by economic cycles. Revenue in the asset management business increased 2% to $292 million in the quarter. Lazard’s assets under management rose 2% to $248 billion, as of June 30.

(Reuters) -Derivatives exchange CME Group (NASDAQ:CME) beat Wall Street estimates for second-quarter profit on Wednesday, as record volatility boosted demand for its products, which are often used to hedge against macroeconomic uncertainty. The company, which facilitates trading of futures and options, benefits during volatile periods, as seen with the onset of U.S. President Donald Trump’s seesawing tariffs in early April. The volatility index, which reflects the extent to which investors are snapping up protection against volatility, reached record levels in early April before retreating on expectations of trade deals. Such sharp swings can unravel positions by hedge funds, which often trade on thin margins. Desks across Wall Street leveraged derivatives to prevent unraveling of such positions, resulting in record average daily volumes of 30.2 million contracts in the quarter, up 16% from a year ago. Excluding one-time items, profit attributable to CME shareholders was $1.07 billion, or $2.96 per share, for the quarter ended June 30. Analysts on average had expected a profit of $2.92 per share, according to data compiled by LSEG. "The number of new retail traders at CME Group increased 57% year over year, contributing to record Micros ADV of 4.1 million contracts in Q2 ... ," CEO Terry Duffy said in a statement. CME further benefits from greater uncertainty as it prompts market participants to switch to deeply liquid exchanges, analysts have said. It reported cash reserves of $2.2 billion, up 10% from a year ago. During the quarter, traders also reacted sharply as Trump amped up pressure on Federal Reserve Chairman Jerome Powell to cut interest rates. CME’s interest-rate products saw record quarterly volumes. Analysts expect demand to rise further as tariff-induced uncertainty and deficit concerns keep the Fed on the sidelines. The company’s shares have gained nearly 18.3% this year, but lags rival exchanges Cboe Global and NYSE-owner Intercontinental Exchange (NYSE:ICE). They have risen 23.4% and 21.3%, respectively. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if ICE is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

(Reuters) -Abbott beat Wall Street estimates for second-quarter profit on Thursday, driven by strong demand for its medical devices including continuous glucose monitors. However, shares fell more than 4% premarket after its third-quarter earnings forecast fell short of expectations. Abbott expects profit of between $1.28 and $1.32 per share, below expectation of $1.34. Sales of its continuous glucose monitoring devices, which include the FreeStyle Libre series and Lingo, jumped 21.4% to $1.9 billion in the second quarter. Continuous glucose monitor makers such as Abbott, Dexcom (NASDAQ:DXCM) and Medtronic (NYSE:MDT) are riding a surge in demand as diabetes awareness rises, insurance coverage expands, and patients embrace finger-prick-free technology. Abbott’s quarterly revenue came in at $11.14 billion, beating expectations of $11.07 billion, according to data compiled by LSEG. The medical device business, which sells diabetes and heart-related devices among others, posted sales of $5.37 billion, topping estimates of $5.24 billion. On an adjusted basis, the company reported a profit of $1.26 per share for the second quarter, compared with analysts’ average estimate of $1.25. Abbott said on Thursday it planned to build a manufacturing facility in the U.S state of Georgia by 2028 to support its cardiovascular business. This adds to April announcements for manufacturing and research projects in Illinois and Texas, which are expected to go live by the end of the year, and help Abbott mitigate any likely impact from President Donald Trump’s tariffs. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if MDT is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

(Reuters) -Bunge beat Wall Street expectations for first-quarter profit on Wednesday as the grain trader and processor benefited from higher processing margins and tariff uncertainty-fueled demand for its products. Combined soybean, corn and wheat export volumes were up 11% year-on-year in the United States and Brazil during the first quarter. Corn was up 38% in the U.S. and soybeans rose 18% in Brazil. "We benefited in the first quarter from tariff-related timing shifts in demand and farmer activity and remain confident in our ability to continue to execute despite the current market environment," CEO Greg Heckman said. The Missouri-based company posted an adjusted profit of $1.81 per share for the three months ended March 31, compared with analysts’ average estimate of $1.30 per share, according to LSEG data.

By Sheila Dang HOUSTON (Reuters) - Chevron (NYSE:CVX) on Friday reported first-quarter earnings that met Wall Street estimates, as the company saw a turnaround in its refining business from a loss late last year. The company’s chief financial officer, Eimear Bonner, said Chevron’s share repurchases this year could be between $11.5 billion and $13 billion, which would be within its guidance of $10 billion to $20 billion. The second-largest U.S. oil producer posted adjusted earnings of $3.8 billion during the three months ended March 31, or $2.18 per share, matching analyst estimates, according to LSEG data. Shares reversed course following the results and were last down nearly 1% premarket as refining and oil and gas production profits were down from a year ago. Refining profit, however, was a significant improvement from the previous quarter, when Chevron’s downstream operations reported the first loss in four years. Chevron and other oil producers have been contending with falling crude prices since April 2, when U.S. President Donald Trump announced sweeping tariffs that are expected to reduce global economic growth. The lower crude prices have raised questions about whether producers will meet their goals for paying dividends and repurchasing shares - a cornerstone of Big Oil’s strategy to woo investors - or cut capital expenditure budgets. Chevron said it paid $3 billion in dividends and repurchased $3.9 billion in shares during the quarter. In the second quarter, the company said it expects to repurchase between $2 billion and $3.5 billion in shares. If rolled forward, that would mean Chevron could land between $11.5 billion and $13 billion in repurchases for 2025, Bonner said in an interview. "We’re still buying back a significant amount of our shares annually, on top of a dividend that’s growing faster than our peers," she said. Chevron’s global oil production totaled 3.35 million barrels of oil equivalent per day, flat from the same period last year. The company completed an expansion at the Tengiz oilfield in Kazakhstan in January and grew production from the Permian basin, the top U.S. oilfield, by 12% year-over-year. Those gains were offset by loss of production from asset sales. Chevron also started production at the Ballymore project in the U.S. Gulf of Mexico in April. Operations at Tengiz have been in focus as Kazakhstan has repeatedly exceeded OPEC+ oil production quotas. Bonner said the company is operating unrestricted. During the first quarter, Chevron was hit by a Trump administration order to wind down operations in Venezuela, which will impact the company’s second-quarter shipments from the country. Earnings from oil and gas production were $3.76 billion, down from $5.24 billion in the year-ago quarter. Chevron’s refining business earned $325 million, down from $783 million a year ago. But that represents a turnaround from the previous quarter when it reported a loss for the first time since 2020, as a post-pandemic surge in demand for fuel faded.

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-BNY beat analyst expectation for the first-quarter profit on Friday, benefiting from growth in assets under custody which led to stronger fee-based revenue streams. The bank’s fees, typically calculated as a percentage of assets under custody, benefited from the acquisition of new clients and heightened market volatility that led to investors aggressively revamping their portfolios to cushion against the impact. Adjusted profit came at $1.58 per share, for the three months ended March 31, beating analysts estimates of $1.51 per share. There is near- and medium-term uncertainty in both the capital market and the economy. So in times like this, the bank will position itself conservatively, said Robin Vince, BNY President and CEO in a call to reporters. Its total fee revenue grew 3% year-on-year to $3.40 billion in the reporting quarter. BNY’s assets under custody and administration were $53.1 trillion in the first quarter, 9% higher than last year.