By Marcus Devlin
Two decades covering equity markets. Writes on single stocks, sectors, valuations and the trades behind the tape.
Utilities defy higher Treasury yields, showing defensive strength
Utility stocks typically struggle when Treasury yields climb, but last month they barely flinched and even beat the broader market. The sect
Morgan Stanley: Tinder selloff is overdone, raises Match price target
Morgan Stanley says the market overreacted to Match's weaker-than-expected Tinder user growth, pointing to improving trends into 2026. The b
Morgan Stanley cuts McDonald's US sales forecast, trims price target
Morgan Stanley trimmed its forecast for McDonald's US same-store sales this quarter to just 0.3% and cut its price target to $319. The bank
Funds Boost Wheat Bets, Trim Rapeseed as Crop Positioning Shifts
Funds increased bullish bets on Euronext milling wheat to a net 153,622 contracts in the week to July 31, while trimming rapeseed longs to 6
Asian ADRs edge higher as Jiayin jumps, MOGU slides in early US trading
Asian ADRs ticked up in early US trading, with the S&P Asia 50 ADR Index gaining 0.57%. Gains were led by Jiayin and 17 Education, while MOG
Hedge funds lost nearly 3% in July as crowded tech trades unwound
Hedge funds lost nearly 3% in July, according to JPMorgan, as crowded tech trades reversed. Quant equity funds fell about 5%, hit by chip st
Chipotle's 2026 outlook excludes Minnesota salmonella costs
Chipotle said its 2026 financial targets don't account for any costs from a Minnesota salmonella investigation. The chain pulled jalapeños l
CVS lifts 2026 outlook but cautious 2027 target sends shares lower
CVS posted a strong quarter and improved Aetna margins, lifting its 2026 forecast. But a cautious 2027 earnings target of at least $8.44 a s
Uber commits $10B to robotaxis as profit outlook misses
Uber says it will pour more than $10 billion into robotaxis over the coming years, backing autonomous-driving partners and fleet operations.
Flutter names Dan Taylor CEO as US spending forces profit forecast cut
Flutter Entertainment has named longtime executive Dan Taylor as its next CEO, effective October 1. The handover comes as the gambling group
Copper Holds Above $14,000 as LME Inventories Shrink and US Tariff Risk Looms
Copper held above $14,000 a ton as LME inventories keep shrinking and more metal heads to the US ahead of a possible tariff decision. The ca
Treasury Holds Auction Sizes Steady, Will Use Bills for Surprises
The US Treasury says it will keep auction sizes for longer-term debt steady for now, leaning on short-term bills if borrowing needs change.