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

0907 ET - Hapag-Lloyd raised its 2026 guidance, driven by the recent positive development in spot freight rates and market demand, although management cautions that it is still subject to a high degree of uncertainty, J.P. Morgan analysts write. The company now sees Ebitda at $2.7 billion-$3.7 billion versus $1.1 billion-$3.1 billion previously, with EBIT now expected at $100 million-$1.1 billion from between $500 million and a loss of $1.5 billion previously. The bank says it is now placed near the mid-point of the upgraded guidance for 2026, with Ebitda at $3.2 billion and EBIT at $565 million. "The wide range suggests outcomes remain highly contingent on how durable the current positive market backdrop proves to be." Shares rise 6.5%. (dominic.chopping@wsj.com)

0905 ET - Berkshire Hathaway's announcement of Warren Buffett's annual midyear stock donation contains a hint that the billionaire investor will no longer give to the Gates Foundation, which has come under scrutiny for Bill Gates' ties to Jeffrey Epstein. Buffett is giving roughly $6 billion in stock to four family foundations. And while Berkshire's release makes no mention of the Gates Foundation, it quotes Buffett as saying his remaining Berkshire shares will go to the family foundations by the end of 2034. (colin.kellaher@wsj.com)

0823 ET - Wells Fargo says each of its business lines, from local retail branches to investment banking, notched growth in 2Q. Higher investment advisory fees on higher market valuations combined with higher investment banking fees to push noninterest income up 13%. Lower deposit costs, higher loan and investment securities balances, higher interest-bearing commercial deposits and balance sheet growth in its market business all helped push net interest income up 5%, despite the impact of lower interest rates on floating rate assets. CEO Charlie Scharf says the bank is clearly benefiting from broad-based economic strength in the U.S. (dean.seal@wsj.com)

0813 ET - Wells Fargo CEO Charlie Scharf says favorable conditions in the economy right now, including a strong labor market and wage growth, "do not go on forever." In the bank's 2Q report, in which it reports a 17% profit jump, the CEO says Wells Fargo is being selective about how much and where it will grow. He also notes persistent concerns about affordability and inflation. Still, Scharf was largely upbeat about the economy. Consumer spending is higher while charge-offs and delinquencies are lower. Savings and investments are growing across consumer segments, he says. And business, while being cautious, have strong balance sheets and cash flows, the CEO says. (dean.seal@wsj.com)

0811 ET - The world's big brewers are enjoying a boost from the soccer World Cup now nearing its end in North America, AJ Bell's Dan Coatsworth writes in a note to clients. The likes of Denmark's Carlsberg, Dutch brewer Heineken and Guinness-maker Diageo have all seen a rise in their share price since the tournament kicked off last month, as sports fan flock to bars to watch games, or buy beer in bulk for watching at home. "Beer suppliers will have been raced off their feet to keep up with demand," Coatsworth says. (joshua.kirby@wsj.com; @joshualeokirby)

0807 ET - JPMorgan Chase is raising its adjusted expense outlook for fiscal 2026 to $107.5 billion. That's up from a forecast of $106 billion from May, which itself was a raise from a $105 billion target set earlier in the year. Increased activity levels are boosting its volume-related expenses and revenue-related expenses, the bank says. The new forecast, like its raised net interest income outlook, are "market dependent," JPMorgan says. For 2Q, noninterest expenses were up 15% year-over-year at $27.3 billion, driven by higher employee compensation, a bigger headcount in front-office roles, and higher technology, marketing and occupancy costs. (dean.seal@wsj.com)

0752 ET - JPMorgan Chase has its eyes set on $105.5 billion in net interest income for fiscal 2026, or about $96.5 billion when stripping out the markets division. The projection, which the bank notes is "market dependent," adds $2.5 billion to guidance given in April and would be a step-up from $95.87 billion in fiscal 2025. It also comes after net interest income was up 10% in 2Q to hit $25.6 billion, or up 4% to $23.7 billion excluding markets. Higher deposit balances and revolving credit balances in card services, along with higher wholesale loan balances, did the heavy lifting in 2Q and overcame the impact of lower rates, JPMorgan says. (dean.seal@wsj.com)

0744 ET - JPMorgan Chase saw a more than 30% jump in annual card fees, CEO Jamie Dimon says in the bank's 2Q report. He chalks the surge to healthy retention levels following a run of recent product refreshes. Demand for premium products helped push that figure higher as well, Dimon says. The bank recently overhauled the benefits on its Sapphire Preferred card and increased the annual fee on its Sapphire Reserve card last summer to $795 from $550. JPMorgan is also taking over Goldman Sachs' role as the issuer and backer of the Apple digital-first credit card. (dean.seal@wsj.com)

0737 ET - JPMorgan's Jamie Dimon says his bank notched new revenue records across each line of business in 2Q. The Commercial & Investment Bank division had a 27% top line gain thanks to higher investment banking fees and some net gains on equity investments. The markets division hit a 35% jump in revenue thanks to elevated client activity, strong trading performance and resilient demand for financing in the equities group. The bank's consumer banking segment is still adding customers, and the wealth management set a new record for first-time investors -- nearly 44,000, Dimon says. (dean.seal@wsj.com)

0733 ET - JPMorgan's Jamie Dimon warns that strength in the U.S. economy right now could be undercut by "meaningful disruptions" that are already starting to boil up. The economy has been boosted this year by strong business investment and hiring, and has support from tailwinds like AI-driven capital investment and fiscal stimulus, Dimon says in his bank's 2Q report. But geopolitical tensions, sticky inflation, large global fiscal deficits and elevated asset prices are "shifting below the surface like tectonic plates," the CEO says. "They may remain manageable, but they could also cause meaningful disruptions when they shift or collide," he says. The bank is monitoring those risks and preparing to adjust of conditions change, Dimon says. (dean.seal@wsj.com)

0732 ET - Ericsson's outlook comments will probably prompt low-single-digit percentage downgrades to 2026 EPS estimates, UBS analyst Francois-Xavier Bouvignies writes. Consensus 2027 estimates will also likely fall, by a low- to mid-single-digit percentage, he adds. The company posted second-quarter revenue that was 2% below consensus and guided to a networks gross margin of 48%-50% versus consensus at 50%. Ericsson also highlighted increasing component cost inflation heading into the coming quarters, which UBS believes could place additional pressure on gross margins from the fourth quarter onward. "With the stock up 25% year-to-date, we believe the combination of slowing revenue growth, lower gross margins, and increasing component cost inflation is likely to weigh on sentiment." Shares fall 8.6%. (dominic.chopping@wsj.com)

0731 ET - Norwegian Air Shuttle's second-quarter results are a mixed bag, but underlying profitability remains positive, Davy Research analysts Ava Costello and Stephen Furlong say in a note. The airline reported a net loss reflecting a one-off emissions penalty charge and the impact of the Middle East conflict on fuel costs and demand. Still, the analysts say its underlying profitability is supported by strong cost control as its efficiency program continues to reduce expenses. They point to the carrier's strong liquidity position and the planned acquisition of Nordic Leisure Travel Group as potential drivers of future margin expansion. Shares trade 1.8% lower at 13.18 kroner. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 09:07 ET (13:07 GMT)

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