The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

1210 ET - Starbucks should have a cold blue drink, and CEO Brian Niccol aims to quickly change that. The coffee chain CEO said in a investor presentation that he aims to keep building on Starbucks's multi-billion Refresher business, and that the sector for customized cold drinks has more room to expand despite increasing competition. The company said that its afternoon business is growing through Refreshers and food options. (heather.haddon@wsj.com, @heatherhaddon)

1159 ET - IBM announces two multi-billion dollar projects across both cybersecurity and quantum computing, moves Wedbush analysts say will help ensure the company stays ahead of the largest market transformations currently underway. The company's $5 billion venture with its Red Hat unit--to establish a new model for open-source software supported by advanced AI-- "was a smart move by IBM to ensure that all enterprises leveraging open-source software within Red Hat can protect new and existing environments," the analysts say in a research note. And IBM's $10 billion investment in quantum computing will help maintain its position as a leader in the nascent sector. "We believe IBM's positioning at the forefront of AI and quantum remains underappreciated," the analysts say. IBM climbs 4%. (connor.hart@wsj.com)

1157 ET - AI products are driving Snowflake's growth and becoming an increasingly significant part of its business, according to Benchmark in a note. "AI is no longer a sideshow, it is serving as a significant revenue contributor," analyst Yi Fu Lee says. In particular, Snowflake Intelligence, the company's enterprise AI agent platform, and Cortex Code, the company's AI-powered coding agent, "are the twin AI stars scaling faster than any products in the company's history," he says. The analyst believes Snowflake is experiencing a "flywheel effect where AI accelerates core consumption, and core data gravity fuels further AI adoption." Snowflake surges 37% after 1Q profit handily surpassed Wall Street's expectations. (chris.kuo@wsj.com)

1147 ET - Gold prices return to positive territory, with futures up 0.6% to $4,508.80 a troy ounce as traders closely wait for a breakthrough in U.S.-Iran negotiations and assess the latest U.S. economic data. GDP data showed the U.S. economy grew more slowly than previously thought during the first quarter, though the Federal Reserve's preferred gauge of monthly price increases grew at a slower pace in April. "The softer-than-expected gain in the core PCE deflator in April buys the Fed a bit of time as it waits to see how higher oil prices will feed through to broader inflation pressures," analysts at Capital Economics say. The near closure of the Strait of Hormuz has pushed energy prices higher, fueling inflation and raising concerns over higher-for-longer interest rates, which typically weigh on the outlook for nonyielding assets like gold. (giulia.petroni@wsj.com)

1144 ET - European airlines, aerospace and luxury good companies are among the sectors best placed to benefit from progress in U.S.-Iran talks to reopen the Strait of Hormuz, Morgan Stanley analysts write. Energy-intensive construction and auto stocks will also rally if peace talks advance, they say. More broadly, Europe is poised to break out of a relative slump if the crucial waterway reopens. "We would expect a continued EU equities recovery on any deal progress following material underperformance vs U.S., muted flows since the Iran escalation and healthy earnings growth," the analysts write. The Stoxx 600 is yet to close above the record high it hit on Feb. 27, the last trading day before the U.S. and Israel launched attacks on Iran. (josephmichael.stonor@wsj.com)

1143 ET - Royal Bank of Canada achieved a very good quarter overall, with key segments of its business exceeding expectations, Scotiabank's Mike Rizvanovic says. He reckons the shares should do well relative to Royal Bank's peers. Most notable, the analyst says, was the strong performance of the big bank's Canadian lending business, both on the commercial and personal sides, and importantly Royal Bank didn't rely heavily on its capital markets business to drive an EPS beat. The bank's credit performance was also favorable, with the provision for credit losses of C$917 million below the C$1.15 billion Rizvanovic anticipated. Royal Bank is trading fown 0.6% at C$259.96, narrowing the three-month advance to 14%. (robb.stewart@wsj.com)

1139 ET - Oil prices trim gains as traders closely monitor developments in U.S.-Iran negotiations to reopen the Strait of Hormuz. Brent crude for July delivery is up 0.5% to $94.80 a barrel, while WTI futures rise 1.2% to $89.73 a barrel. Both benchmarks gained more than 2.5% earlier in the session after the U.S. and Iran exchanged fire, raising concerns over an already fragile cease-fire. Still, "while the reopening of the Strait is a necessary step towards normality in the global energy market, it alone is not sufficient to bring energy prices quickly back towards prewar levels," analysts at Capital Economics say. "A return to prewar oil export levels will take time, probably well into 2027." The firm foresees Brent in a range of $80-$90 a barrel in the fourth quarter. (giulia.petroni@wsj.com)

1137 ET - There is likely modest upside for Toronto-Dominion Bank's shares in the wake of a solid EPS beat across most of the bank's segments, says Scotiabank's Mike Rizvanovic. TD's core cash EPS of C$2.38 for 2Q was ahead of the C$2.27 the analyst expected, with stronger net interest income and slightly better provision for credit losses but elevated expenses. Rizvanovic also notes a solid sequential improvement in TD's return on equity, which hit 14.4%. TD's shares are now up 0.2% at C$155.37, while most other Canadian banks are lower. (robb.stewart@wsj.com)

1118 ET - Kohl's has spent much of the past few years retooling departments in its stores in an attempt to come back from years of missteps and sales declines. This work is still underway, but several categories are further along and beginning to yield positive results, CEO Michael Bender says on a call with analysts. The result: The retailer delivered flat to slightly positive comparable sales across its women's, kids, accessories and home categories during the latest quarter. "We've implemented a lot of changes to these categories over the years and are excited about the momentum we're creating here," Bender says. Overall, Kohl's comparable sales slipped 1.1% during the period, less steep than the 1.7% decline Wall Street expected and marking its best performance in years. Shares pop 17%, to $15.13. (connor.hart@wsj.com)

1117 ET - Eurozone goods exporters to the U.S. have seen competitiveness eroded, while other major trading partners have seen large gains, Oxford Economics' Daniel Kral says in a note. That suggests the stronger euro has been a more significant driver of the eurozone's loss of competitiveness than higher tariffs, contrasting with other major economies whose U.S. tariffs also rose but whose exchange rates have also depreciated, he says. That gap is likely to persist, posing a structural headwind for eurozone growth, he says. Given institutional constraints and the difficulty of raising productivity, the European Union could increasingly turn inwards and use protective trade measures, particularly against China, Kral adds. (edward.frankl@wsj.com)

1111 ET - Puma has shown good control over its transition plan, but challenges remain, analysts at Bank of America Global Research say. The German sportswear company has been very consistent and reliable on guidance and earnings predictability, but its target of growing by more than the sector average starting in 2027 appears ambitious, the analysts write in a note. Puma's turnaround could be supported by Anta, the Hong Kong-listed company that agreed to buy a 29% stake in the German group in January. Puma could benefit from Anta's presence in China to expand in the country, they say. However, Puma is more exposed to emerging markets than peer Adidas, which can lead to higher economic uncertainty and currency headwinds, among other challenges, they say. BofA downgrades Puma's stock rating to underperform from neutral. Shares trade 1.3% lower. (andrea.figueras@wsj.com)

1108 ET - Canadian Imperial Bank of Commerce managed a solid 2Q that was among the best of its peer group, albeit one not as strong as the prior quarter, TD Cowen's Mario Mendonca says. CIBC's adjusted EPS of C$2.54 was up 24% on-year and ahead of the C$2.46 Mendonca expected, driven by stronger capital markets revenue. Net interest margin also was better than anticipated, and CIBC's strong capital position is supporting more share buybacks by the bank, the analyst adds. Loan growth is showing better momentum in commercial, but not personal banking, he adds. CIBC's shares are down 4.4% at C$152.51. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

May 28, 2026 12:10 ET (16:10 GMT)

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