MORNING NEWS

NKE recorded another sales decline in the latest quarter as it continued to hit hurdles with weakness in China. The sneakers and apparel company said the results were in line with its expectations, despite facing what it called an increasingly challenging operating environment in which sell-through remains under pressure. “While we continue to face top-line headwinds, we’re encouraged by progress in performance product and are focused on consistent execution, improved profitability and scaling our wins to realize our full potential,” Chief Executive Elliott Hill said.

Comcast’s planned breakup is sending Charter Communications’ stock soaring. The cable giant plans to spin off NBCUniversal and Sky operations, leaving Comcast to focus on broadband, wireless and cable. That has investors betting on the prospect of Comcast acquiring Charter after the split’s completion to bolster its broadband operations amid the prospect of growing competition. “The core regulatory questions [for a potential bid] become cleaner: broadband concentration, local market overlap, wireless bundling and the FCC public interest review,” research firm MKI Global Partners said in a note today.

Volkswagen is working on a radical overhaul that will likely result in thousands of additional job losses beyond the 50,000 already agreed with unions, in the automotive giant’s latest move to bolster its finances amid growing competition from China. The project is aimed at making “the entire company more efficient and leaner,” the German carmaker. The company’s management team is expected to present details of the plan to its supervisory board early next month. Volkswagen’s statement followed a report by local business monthly Manager Magazin that the company wanted to double its job-cut target to 100,000 positions.

Micron MU Technology, which has seen its value triple this year, said revenue quadrupled in the second quarter and forecast that rapid growth will continue due to near-insatiable demand for its memory chips. Shares surged by as much as 15% in after-hours trading after the company beat Wall Street expectations in virtually every financial metric watched closely by investors, including sales, earnings per share and adjusted gross margin.

FedEx FDX logged higher revenue in its latest quarter on higher shipping rates and volumes. The shipping company’s profit ticked down in the quarter, hurt by costs related to the spin off of its freight operations, business optimization and shift to reporting on a calendar-year basis. Shares declined 6.2% to $297.50 in late trading on Tuesday. At the market close, shares were up 36% year to date. Shares of economic bellwether FedEx FDX fell in late trading despite the delivery giant’s reported increase in quarterly package volumes and revenue.

Prior to the release of its Half-Year 2026 results on 22 July, Lonza has published restated Half-Year 2025 financial information reflecting the classification of its CHI business as discontinued operations, in line with its Full-Year 2025 reporting. In December 2024, Lonza announced its intention to divest the CHI business.

Chinese robotics company Coowa is gearing up to go public in Hong Kong, people familiar with the matter said, joining the wave of robotics and tech companies raising capital in the city. The SoftBank Group backed company’s valuation stood at more than $3 billion after it raised more than $600 million in its latest funding round, the people said. Shanghai-based Coowa plans to file the IPO application within the next two to three months, they added.

Moderna shares rose 3.5% Thursday after an advisory committee voted to recommend the U.S. Food and Drug Administration approve the biotech’s proposed new flu shot for people 50 and older. The FDA had initially declined to consider Moderna’s application for the shot’s approval but then agreed to review it after Moderna amended it. The advisory committee vote in favor of the vaccine isn’t binding, but the FDA generally follows such recommendations.

The Federal Reserve’s first statement under Chairman Kevin Warsh clocked in at only 132 words. Wall Street was troubled by the final six of them. “The Committee will deliver price stability.” The central bank held its benchmark rate steady, as expected, in Kevin Warsh’s first meeting as Fed chairman. But officials’ quarterly economic projections showed that nine of 19 officials penciled in at least one rate increase by the end of the year, up from none in March.

Sandoz today inaugurates a new biosimilar development centre in Ljubljana, Slovenia, to strengthen and expand its in‑house biosimilar capabilities. The fully digitally integrated USD 99 million facility covers about 10,000 m² and employs more than 200 scientists. It supports end-to-end drug substance and drug product development, backed by advanced analytics and data science.