Crude Oil Down Over 4%; Verizon Raises Earnings Forecast

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining more than 100 points on Friday.

The Dow traded up 0.20% to 51,815.71 while the NASDAQ declined 0.13% to 25,105.02.

The S&P 500 also rose, gaining, 0.04% to 7,411.02.

Leading and Lagging Sectors Real estate shares jumped by 2.3% on Friday.

In trading on Friday, information technology stocks fell by 0.8%.

Top Headline Verizon Communications Inc. (NYSE: VZ ) reported better-than-expected second-quarter earnings, while revenue narrowly missed expectations.

Adjusted earnings came in at $1.30 per share, above the analyst consensus estimate of $1.27, according to Pro.

Revenue totaled $34.25 billion, missing the $35.11 billion estimate.

GAAP diluted earnings per share fell 22% year over year to 92 cents, while net income declined 22.9% to $3.9 billion.

Verizon raised its full-year adjusted EPS guidance to a range of $4.99 to $5.04 from its previous forecast of $4.95 to $4.99.

The updated outlook is above the analyst consensus estimate of $4.96.

Equities Trading UP Safety Insurance Group Inc (NASDAQ: SAFT ) shares shot up 41% to $103.03 after the company announced it will be acquired by Mapfre.

Shares of RingCentral Inc (NYSE: RNG ) got a boost, surging 22% to $47.24 following upbeat quarterly earnings.

Tenet Healthcare Corp ( NYSE: THC ) shares were also up, gaining 23% to $244.32 after the company reported better-than-expected second-quarter financial results and raised its FY26 guidance.

Equities Trading DOWN Robin Energy Ltd ( NASDAQ: RBNE ) shares dropped 37% to $3.59 after the company announced the pricing of its $3 million offering of 750,000 shares at $4.00 per share.

Shares of Maxlinear Inc ( NASDAQ: MXL ) were down 15% to $77.92 after announcing second-quarter results.

Codexis Inc (NASDAQ: CDXS ) was down, falling 24% to $1.52 after the company announced the pricing of its $23.1 million public offering of 16,666,667 shares at $1.50 per share.

Commodities In commodity news, oil traded down 4.3% to $88.26 while gold traded up 0.5% at $4,070.10.

Silver traded up 1.5% to $58.94 on Friday, while copper rose 0.2% to $6.3565.

Euro zone European shares were higher today.

The eurozone’s STOXX 600 rose 0.5%, while Spain’s IBEX 35 Index gained 1.2% London’s FTSE 100 rose 0.6%, Germany’s DAX gained 0.8%, while France’s CAC 40 gained 0.4%.

Asia Pacific Markets Asian markets closed lower on Friday, with Japan’s Nikkei 225 falling 2.73%, Hong Kong’s Hang Seng index falling 0.98%, China’s Shanghai Composite dipping 1.61% and India’s BSE Sensex falling 0.43%.

Economics U.S. building permits declined 2.6% month-over-month to an annual rate of 1.374 million in June, above the preliminary reading of 1.367 million.

The S&P Global composite PMI climbed to 53.6 in July from 51.9 in the previous month, recording its highest reading since November.

The S&P Global manufacturing PMI slipped to 53.8 in July from 53.9 in June, down from market expectations of 54.3.

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