Ultime notizie per NuCana (NASDAQ:NCNA) Azioni

NuCana

NuCana PLC is a biopharmaceutical company focused on improving treatment outcomes for cancer patients by ProTide technology. Utilizing proprietary ProTide technology, the firm is developing new medicines designed to overcome key cancer resistance mechanisms and generate much higher concentrations of anti-cancer metabolites in cancer cells. The company's ProTide pipeline products are NUC-3373, NUC-7738, Acelarin. Geographically operates through the region of the United States.

The purpose of the programme is to reduce the issued share capital of the Company. All shares repurchased as part of the programme will be cancelled.

News

Buybacks

SHEL

Shell Commences $3.5B Share Buyback Programme Targeting Completion Before Q3 2025 Results Announcement

A new paper from Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) outlines which jobs are most likely to be disrupted by generative AI and which ones are least affected.
What Happened: Last week, Microsoft released a study titled &#8220;Working with AI: Measuring the Occupational Implications of Generative AI.&#8221; The paper identified 40 occupations with high AI applicability—meaning AI can perform a large portion of their tasks—and 40 with low applicability, where AI has minimal impact.
Here is the list of 10 jobs most at risk from AI, and 10 considered most secure:
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Most at Risk (High AI Applicability Score)</th>
<th>Most Secure (Low AI Applicability Score)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Interpreters and Translators</td>
<td>Phlebotomists</td>
</tr>
<tr>
<td>Historians</td>
<td>Nursing Assistants</td>
</tr>
<tr>
<td>Passenger Attendants</td>
<td>Hazardous Materials Removal Workers</td>
</tr>
<tr>
<td>Sales Representatives of Services</td>
<td>Helpers – Painters, Plasterers, etc.</td>
</tr>
<tr>
<td>Writers and Authors</td>
<td>Embalmers</td>
</tr>
<tr>
<td>Customer Service Representatives</td>
<td>Plant and System Operators, All Other</td>
</tr>
<tr>
<td>CNC Tool Programmers</td>
<td>Oral and Maxillofacial Surgeons</td>
</tr>
<tr>
<td>Telephone Operators</td>
<td>Automotive Glass Installers and Repairers</td>
</tr>
<tr>
<td>Ticket Agents and Travel Clerks</td>
<td>Ship Engineers</td>
</tr>
<tr>
<td>Broadcast Announcers and Radio DJs</td>
<td>Tire Repairers and Changers</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: &#8220;Working with AI: Measuring the Occupational Implications of Generative AI&#8220;</figcaption></figure>
Other jobs that are at risk include telemarketers, political scientists, technical writers, news analysts, market research analysts, proofreaders, data scientists, advertising sales agents, management analysts, geographers, library science teachers, and new accounts clerks. Even creative and analytical roles like editors, demonstrators, and postsecondary economics teachers are flagged.
Conversely, jobs involving physical work, manual dexterity, and real-world presence are less exposed. Other low-risk jobs include cement masons, dishwashers, surgical assistants, gas pump operators, pile driver operators, ophthalmic medical technicians, dredge operators, roustabouts, orderlies, bridge and lock tenders, and logging equipment operators.
The report was authored by Kiran Tomlinson, a senior researcher at Microsoft; Sonia Jaffe, a principal researcher at Microsoft; Will Wang, a pre-doctoral research assistant; Scott Counts, a senior principal research manager; and Siddharth Suri, a senior principal researcher at Microsoft.
See Also:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/07/46745168/trump-leaves-good-friend-india-in-the-cold-strikes-trade-deal-with-arch-rival-pakis" target="_blank" rel="noreferrer noopener">Trump Leaves &#8216;Good Friend&#8217; India In The Cold, Strikes Trade Deal With Arch Rival Pakistan Over &#8216;Massive Oil Reserves&#8217;</a>
Why It Matters: The study&#8217;s findings align with the warnings of economist Craig Shapiro, who in June 2025 cautioned that <a href="https://www.benzinga.com/markets/economic-data/25/06/46093421/ai-will-disrupt-25-of-us-jobs-by-2030-and-the-fed-cant-save-them-economist-warns">AI-driven job displacement</a> is creating a structural labor crisis that traditional monetary tools cannot address. With up to 25% of U.S. jobs potentially at risk by 2030, Shapiro called for fiscal and regulatory responses.
However, not everyone shares this pessimistic view.&nbsp;Shyam Sankar, the Chief Technology Officer of&nbsp;Palantir Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), argued that AI is unlocking new levels of creativity and <a href="https://www.benzinga.com/markets/tech/25/07/46593814/palantirs-shyam-shankar-says-ai-wont-kill-jobs-itll-give-blue-collar-workers-superpowers-and-make-them-50x-more-productive">productivity for America&#8217;s workforce</a>, not replacing it.
Meanwhile,&nbsp;Cathie Wood, CEO of ARK Invest, has raised concerns over the disruptive <a href="https://www.benzinga.com/markets/tech/25/07/46460054/cathie-wood-says-ai-is-hurting-entry-level-jobs-offers-advice-to-jobseekers-here-is-her-advice-for-those-joining-the-workforce">impact of AI on entry-level jobs</a>, especially for new college graduates, amid rising unemployment.
Read Next:
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</ul>
Photo Courtesy: wee dezign on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

MSFT

PLTR

Microsoft Paper Warns AI Could Make Historians Extinct But Leave Embalmers Alone, Here's A List You Want To See

OUTLOOK FOR THE THIRD QUARTER 2025&nbsp;
<ul>
<li>Full year 2024 cash capital expenditure was $21 billion. Our cash capital expenditure range for the full year 2025 is expected to be within $20 - $22 billion.</li>
<li>&nbsp;Integrated Gas production is expected to be approximately 910 - 970 thousand boe/d.&nbsp;</li>
<li>LNG liquefaction volumes are expected to be approximately 6.7 - 7.3 million tonnes. Upstream production is expected to be approximately 1,700 - 1,900 thousand boe/d.&nbsp;</li>
<li>Marketing sales volumes are expected to be approximately 2,600 - 3,100 thousand b/d. Refinery utilisation is expected to be approximately 88% - 96%.&nbsp;</li>
<li>Chemicals manufacturing plant utilisation is expected to be approximately 78% - 86%.&nbsp;</li>
<li>Corporate Adjusted Earnings1 were a net expense of $463 million for the second quarter 2025.&nbsp;</li>
<li>Corporate Adjusted Earnings are expected to be a net expense of approximately $500 - $700 million in the third quarter 2025</li>
</ul>

Earnings

Guidance

Shell Guides Q3 LNG Output At 6.7–7.3M Tonnes, Upstream At 1.7–1.9M boe/d; Sees Corporate Loss Of $500M–$700M And 2025 Capex At $20B–$22B

Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) is actively exploring a significant strategic shift towards developing &#8220;full-end solutions&#8221; and chiplets, potentially moving beyond its traditional intellectual property (IP) licensing model.
Check out the stock price of <a href="https://www.benzinga.com/quote/ARM">Arm over here.</a>
What Happened: This revelation came during the company&#8217;s <a href="https://www.benzinga.com/markets/earnings/25/07/46740862/arm-holdings-shares-move-lower-following-q1-earnings-revenue-miss-eps-in-line-soft-q2-earnings-guidance">first quarter 2026 earnings</a> call, where CEO Rene Haas indicated the move is driven by the &#8220;insatiable compute demands of AI&#8221; and customer requests for more integrated solutions.
Haas stated, &#8220;We are continuing to explore the possibility of moving beyond our current platform into additional compute to subsystems, chiplets and potentially full-end solutions.&#8221;
He elaborated that the company is &#8220;looking now at the viability of moving beyond the current platform to additional subsystems, chiplets or possibly full solutions,&#8221; emphasizing that Arm possesses the internal expertise needed to &#8220;design, implement and have a chiplet, for example, manufacturing.&#8221;
This signals a potential foray into areas currently dominated by its partners and customers, including major players like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
The strategic exploration is closely tied to Arm&#8217;s surging presence in the AI landscape. The company reported that its Neoverse data center chips are expected to capture &#8220;nearly 50%&#8221; market share among top hyperscalers this year, a dramatic leap from &#8220;sub 20%&#8221; just a year ago.
This growth is fueled by adoption in critical AI infrastructure, including Nvidia Grace Blackwell, Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) AWS Graviton, Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Axion, and Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Cobalt.
The integration of Arm designs into high-performance AI systems, such as Nvidia&#8217;s Grace Blackwell, which is &#8220;25x more energy efficient than the previous x86-based system,&#8221; underscores Arm&#8217;s growing influence.
See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46513468/bitcoin-miner-iren-could-surge-1572-as-sotp-valuation-pegs-300-target-hedge-fund-manager-eric-jackson-says-were-cooking-with-gas" target="_blank" rel="noreferrer noopener">Bitcoin Miner IREN Could Surge 1,572% As SOTP Valuation Pegs $300 Target — Hedge Fund Manager Eric Jackson Says, ‘We&#8217;re Cooking With Gas&#8217;</a>
Why It Matters: While a direct entry into chip manufacturing could create new competitive dynamics with its existing clientele, Arm&#8217;s confidence stems from its unique position as the &#8220;only compute platform built to deliver AI performance across the full spectrum of power and performance from milliwatts to megawatts.&#8221;
The company also highlighted the success of its Compute Subsystems (CSS) platforms, which are already delivering &#8220;double the royalty of Armv9&#8221; and exceeding expectations, providing a blueprint for more integrated offerings.
Arm missed the <a href="https://www.benzinga.com/markets/earnings/25/07/46740862/arm-holdings-shares-move-lower-following-q1-earnings-revenue-miss-eps-in-line-soft-q2-earnings-guidance">first-quarter</a> revenue estimate of $1.055 billion, as its sales came in at $1.053 billion. The adjusted earnings of 35 cents per share were in line with the analyst estimates. &#8211;
Price Action: Arm shares fell 8.56% in after-hours on Wednesday. The stock was up 27.40% year-to-date and 13.29% over the past year.
Benzinga's Edge Stock Rankings indicate that Arm maintains solid momentum across the short, medium, and long term. However, the stock scores poorly on value rankings. Additional performance details are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="161" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31015503/arm-edge-1024x161.png" alt="" class="wp-image-1008333" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31015503/arm-edge-1024x161.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31015503/arm-edge-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31015503/arm-edge-768x121.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31015503/arm-edge.png 1284w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended on a mixed note on Wednesday. The SPY was down 0.13% at $634.46, while the QQQ advanced 0.13% to $568.02, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the futures of the Dow Jones, S&amp;P 500, and Nasdaq 100 indices were trading higher.
Read Next:
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<li><a href="https://www.benzinga.com/markets/hedge-funds/25/07/46687204/warren-buffett-has-56-of-his-258-billion-portfolios-value-exposed-to-ai-here-are-the-5-stocks-that-are-leveraging-ai-within-berkshires-holdings" target="_blank" rel="noreferrer noopener">Warren Buffett Has 56% Of His $258 Billion Portfolio&#8217;s Value Exposed To AI: Here Are The 5 Stocks That Are Leveraging AI Within Berkshire&#8217;s Holdings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AMZN

GOOG

GOOGL

NVDA

Arm Holdings Explores Designing Its Own Chips As AI Demand Skyrockets: More Competition For Nvidia?

Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) reported quarterly earnings of $1.44 per share which beat the analyst consensus estimate of $1.21 by 19.01 percent. This is a 27.27 percent decrease over earnings of $1.98 per share from the same period last year. The company reported quarterly sales of $65.41 billion which missed the analyst consensus estimate of $69.20 billion by 5.49 percent. This is a 12.16 percent decrease over sales of $74.46 billion the same period last year.

Earnings Beats

Earnings Misses

Shell Q2 Adj. EPADS $1.44 Beats $1.21 Estimate, Sales $65.41B Miss $69.20B Estimate

Subsea 7 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SUBCY#OTC">SUBCY</a>) sees FY2025 sales of $6.800 billion-$7.200 billion vs $7.150 billion analyst estimate.

SUBCY

Subsea 7 Sees FY2025 Sales $6.800B-$7.200B vs $7.150B Est

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to report quarterly earnings at $1.42 per share on revenue of $89.04 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Apple shares fell 0.2% to $208.66 in after-hours trading.</li>
<li>Analysts are expecting Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to have earned $1.31 per share on revenue of $161.87 billion for the latest quarter. The company will release earnings after the closing bell. Amazon shares rose 3.1% to $237.42 in after-hours trading.</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported better-than-expected second-quarter financial results and issued third-quarter sales guidance above estimates. Meta reported second-quarter revenue of $47.52 billion, beating analyst estimates of $44.58 billion, according to Benzinga Pro. The company reported second-quarter earnings of $7.14 per share, beating estimates of $5.79 per share. Meta shares surged 11.5% to $775.10 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported better-than-expected fourth-quarter financial results and issued a strong forecast for the current quarter. Microsoft reported fourth-quarter revenue of $76.44 billion, up 17% year-over-year. The revenue total beat a Street consensus estimate of $73.80 billion according to data from Benzinga Pro. The company reported fourth-quarter earnings per share of $3.65, beating a Street consensus estimate of $3.37. Microsoft shares jumped 8.3% to $555.74 in the after-hours trading session.</li>
<li>Analysts expect Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) to post quarterly earnings of $1.58 per share on revenue of $11.31 billion before the opening bell. Bristol-Myers Squibb shares rose 0.2% to $46.08 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/dividends/25/07/46733987/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-delivering-high-dividend-yields-2">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: jamesteohart / Shutterstock.com

Pre-Market Outlook

AAPL

Microsoft, Apple And 3 Stocks To Watch Heading Into Thursday

Subsea 7 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SUBCY#OTC">SUBCY</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.41 by 10.84 percent. This is a 125 percent increase over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $1.756 billion which missed the analyst consensus estimate of $1.851 billion by 5.16 percent. This is a 0.98 percent increase over sales of $1.739 billion the same period last year.

Subsea 7 Q2 EPS $0.45 Beats $0.41 Estimate, Sales $1.756B Miss $1.851B Estimate

Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.97 by 1.03 percent. This is a 8.89 percent increase over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $15.004 billion which missed the analyst consensus estimate of $15.380 billion by 2.45 percent. This is a 2.15 percent decrease over sales of $15.333 billion the same period last year.

CORRECTION: Anheuser-Busch InBev Q2 Adj. EPS $0.98 Beats $0.97 Estimate, Sales $15.004B Miss $15.380B Estimate

Guidance
<ul>
<li>In 2025, sales are anticipated to grow by a high single-digit percentage at CER (previously mid-to-high single-digit). Sanofi confirms the expectation of a strong business EPS rebound with growth at a low double-digit percentage at CER (before share buyback), now including all expenses from newly acquired businesses4</li>
<li>Sanofi intends to complete its €5 billion share buyback program in 2025. 80.3% has been repurchased to date</li>
</ul>

Sanofi Ups 2025 Sales Guidance to High Single Digits At CER, From Mid-to-High Range; Plans To Complete €5B Share Buyback In 2025; 80.3% Already Repurchased

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.90 per share which missed the analyst consensus estimate of $0.96 by 6.15 percent. This is a 3.12 percent decrease over earnings of $0.93 per share from the same period last year. The company reported quarterly sales of $11.33 billion which missed the analyst consensus estimate of $11.53 billion by 1.72 percent. This is a 2.05 percent decrease over sales of $11.57 billion the same period last year.

Sanofi Q2 Adj. EPS $0.90 Misses $0.96 Estimate, Sales $11.33B Miss $11.53B Estimate

An unspecified number of cans labeled as Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) energy drinks were accidentally filled with High Noon vodka seltzer before reaching stores, prompting a recall posted to the Food and Drug Administration's website.
What Happened: The recall was initiated after High Noon discovered that a shared packaging supplier mistakenly shipped empty Celsius cans to High Noon
The recall targets two production lots of High Noon Beach Variety 12-packs (12 fl oz) that may contain cans mislabeled as "CELSIUS Astro Vibe Energy Drink, Sparkling Blue Razz Edition" with a silver lid instead of Celsius' usual black top. 
High Noon shipped the lots July 21–23, 2025, to distributors in Florida, Michigan, New York, Ohio, Oklahoma, South Carolina, Virginia and Wisconsin, and distributors sent them on to retailers in Florida, New York, Ohio, South Carolina, Virginia and Wisconsin.
The notice reports no illnesses or adverse events, and Benzinga has asked High Noon for further comment.
See Also: <a href="https://www.benzinga.com/news/entertainment/25/07/46745363/andreessen-horowitz-is-looking-for-someone-to-grow-its-podcast-network-wait-until-you-hear-the-six-figure-salary-they-are-offering">Andreessen Horowitz Is Looking For Someone To Grow Its Podcast Network, Wait Until You Hear The Six Figure Salary They Are Offering</a>
Why It Matters:  The mix-up drew fast attention because Celsius is popular with fitness instructors, tech executives, all-night investment bankers and politicians such as House Speaker Mike Johnson (R-La.), who keeps a stash in his office fridge, <a href="https://www.washingtonpost.com/style/power/2025/01/14/celsius-politics-capitol-hill-mike-johnson-energy-drinks/">according</a> to The Washington Post.
The FDA urges consumers to avoid drinking from the affected cans, discard the contents, and check the bottom codes, even if the Celsius can was not purchased inside a High Noon pack. The notice reiterates that consumers should verify that any "Celsius Astro Vibe" can does not carry the impacted bottom codes and should not consume it if it does. CVS <a href="https://www.cvs.com/content/dam/enterprise/cvsretail/help-assets/recall_pdf/Gallo_HighNoonBeachVariety12Pk_615373.pdf">says</a> customers can return the implicated High Noon variety packs to its stores.
Price Action: Shares of Celsius Holdings fell by 1.9% to $46.54 on Wednesday and were down another 1.01% in after-hours trading at the time of publication.
Benzinga Edge Stock Rankings indicate Celsius Holdings stock has Momentum in the 90th percentile and Growth in the 82nd percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Check here to see how it stacks up against other beverage stocks</a>.
Photo Courtesy: MDV Edwards on Shutterstock.com
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="152" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31001604/image-494-1024x152.png" alt="" class="wp-image-1008255" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31001604/image-494-1024x152.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31001604/image-494-300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31001604/image-494-768x114.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31001604/image-494.png 1374w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46745285/meta-cfo-susan-li-says-company-may-tap-external-financing-for-2026-ai-infrastructure-as-capex-heads-toward-100-billion">Meta CFO Susan Li Says Company May Tap External Financing For 2026 AI Infrastructure As CapEx Heads Toward $100 Billion</a></li>
</ul>

Equities

Health Care

Markets

General

CELH

Celsius Energy Drink Cans Mislabeled With Vodka Triggers Recall And FDA Warning: What's Going On?

Outlook
Due to ongoing tariff headwinds, economic activity remains subdued; no restocking has been observed as customers maintain a "wait and see" approach. This has created some headwinds to demand that were not anticipated at the beginning of the year, concentrated in the United States, where flat product apparent steel consumption (ASC) is now forecast to decline slightly in 2025 within the range of -2.0% to 0% (as compared to growth of 1.0% to 3.0% forecast at the beginning of the year). Section 232 tariffs have also increased costs and negatively impacted the supply/demand balance in Canada and Mexico markets.
In Europe demand is faring relatively better, and flat product ASC growth is expected in the range of -0.5% to +1.5% in 2025, only marginally below the forecast at the beginning of the year (+0% to +2.0%) due to more limited direct tariff impacts and support from lower interest rates. Looking beyond the near-term challenges (seasonal demand weakness and manufacturing activity at stable but low levels), inventories in Europe remain low, and the prospects of incremental trade policy support, a strengthened carbon border adjustment mechanism, together with higher infrastructure and defense spending, may materially improve the medium-term outlook.
So far this year, steel demand in Brazil has been stronger than initial expectations, and the Company now forecasts positive ASC growth of up to 2.0% in 2025 (vs. a stable demand forecast previously). India continues to be the fastest growing major steel market, with demand well supported particularly by infrastructure investment; ASC remains on track to increase in the range of 6.0% to 7.0% in 2025.
As a result, World ex-China ASC is now expected to grow by +1.5% to +2.5% in 2025, as compared to the initial +2.5% to +3.5% guidance provided at the beginning of the year. China's steel industry capacity remains unsustainable, and its elevated exports continue to weigh on ex-China fundamentals. China demand is expected to remain broadly stable in 2025, with the tariff impacts on exports and real estate weakness being offset by manufacturing and infrastructure demand.
Further contributions from strategic growth projects and Calvert consolidation should support 2H 2025 profitability which will face increased headwinds from Section 232 tariffs and impacts of seasonality. Free cash flow is expected to be positive in 2025, supported by a release of working capital in 2H 2025.
Looking to the medium term, the Company remains positive on the steel demand outlook and believes that it is optimally positioned to execute its strategy of growth with capital returns, and therefore has made no changes to its investment or capital return plans. Capex for 2025 remains guided at $4.5–$5.0 billion, including $1.4–$1.5 billion for strategic growth and $0.3–$0.4 billion for decarbonization projects. Furthermore, the completion and ramp-up of the Company's strategic growth projects is expected to support structurally higher EBITDA and investable cash flow in the coming periods.

ArcelorMittal Holds $4.5B–$5.0B Capex For 2025; World ex-China Steel Demand Slows To +1.5%–2.5%; US ASC To Decline 0%–2%, India To Grow 6%–7%; H2 Profitability Seen Rising On Project Ramp-Up Despite Section 232 Tariff Pressures

AB InBev Volumes Declined By 1.9% In Q2, With Beer Volumes Down By 2.2% And Non-Beer Volumes Up By 0.3%.

2025 Outlook
(i) Overall Performance: We expect our EBITDA to grow in line with our medium-term outlook of between 4-8%. The outlook for FY25 reflects our current assessment of inflation and other macroeconomic conditions.
(ii) Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 190 to 220 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY25 to be approximately 4%.
(iii) Effective Tax Rate (ETR): We expect the normalized ETR in FY25 to be in the range of 26% to 28%. The ETR outlook does not consider the impact of potential future changes in legislation.
(iv) Net Capital Expenditure: We expect net capital expenditure of between 3.5 and 4.0 billion USD in FY25.

AB InBev Sees FY25 EBITDA Growing 4%–8% Amid Inflation, Macro Headwinds, Targets $3.5B–$4B Net Capital Expenditure; Says Finance Costs To Hit $190M–$220M Per Quarter In FY25, Tax Rate Seen At 26%–28%

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella has said that working with leading AI startups like OpenAI helps sharpen the company's cloud infrastructure and product development, drawing a parallel to a time when he wished Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) had chosen Azure over Amazon.com, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services.
<h2 class="wp-block-heading">Nadella Wanted Netflix On Azure, Not AWS</h2>
During Microsoft's fiscal <a href="https://www.benzinga.com/markets/earnings/25/07/46738585/microsoft-q4-earnings-highlights-double-beat-ceo-says-cloud-and-ai-is-the-driving-force">fourth-quarter earnings</a> call on Wednesday, Morgan Stanley analyst Keith Weiss asked Nadella how the company manages the balance between supporting fast-growing AI startups — which are both major customers and potential competitors — and ensuring long-term value for Microsoft's cloud business.
In response, Nadella said Microsoft has been in similar positions before, referencing early cloud adoption in the streaming era.
"Back in the day when I was getting started on Azure, I used to look over the lake and sort of see Netflix and Amazon, and I say, ‘I wish Netflix ran on Azure,'" Nadella said. "And in some sense, that's kind of what we now have… the largest AI workloads run on Azure."
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46686037/nvidia-is-now-worth-twice-tesla-amd-palantir-and-intel-combined" target="_blank" rel="noreferrer noopener">Nvidia Is Now Worth Twice Tesla, AMD, Palantir, And Intel Combined</a>
<h2 class="wp-block-heading">AI Startups Like OpenAI Help Microsoft Optimize Its Cloud Stack</h2>
He explained that these high-demand AI applications, like ChatGPT and Copilot, allow Microsoft to optimize its entire data and software stack — including tools like Cosmos DB — around the needs of cutting-edge workloads.
"These are workload results that are invaluable for us to learn to build both the products as well as the platform," he said.
<h2 class="wp-block-heading">Microsoft Eyes Broad Adoption Beyond Leading AI Players</h2>
Nadella underscored that Microsoft's strategy includes not just supporting headline AI startups but also tracking usage across a "broad diffusion" of second-tier AI apps, ensuring scalability and relevance for a wide customer base.
<h2 class="wp-block-heading">Azure Posts Strong Growth, Hits $75 Billion In Annual Revenue</h2>
Microsoft reported fourth-quarter revenue of $76.44 billion, marking a 17% year-over-year increase and surpassing the Street estimate of $73.80 billion.
The Intelligent Cloud segment brought in $29.9 billion, up 26% from a year ago. Azure and other cloud services within the Intelligent Cloud segment posted a 39% year-over-year revenue increase.
Nadella noted that Azure crossed $75 billion in <a href="https://www.benzinga.com/etfs/sector-etfs/25/07/46735066/microsofts-74-billion-ai-surprise-etfs-bet-big-on-azures-secret-weapon">revenue for the full fiscal</a> year, up 34% year-over-year.
<h2 class="wp-block-heading">Microsoft Still Trails AWS In Global Cloud Market</h2>
As of the fourth quarter 2024, AWS maintains its lead in the global cloud infrastructure market with a 30% share, according to Synergy Research Group.
Microsoft Azure followed at 21%, and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Cloud held 12%. Together, the &#8220;Big Three&#8221; controlled over 60% of the market, while all other providers remained in the low single digits.
Price Action: On Wednesday, Microsoft shares edged up 0.13% during regular trading and jumped 8.28% in after-hours trading, according to <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0717">Benzinga Pro</a>.
Benzinga&#8217;s Edge Stock Rankings show that MSFT maintains strong momentum across short, medium and long-term periods, although its value rating remains relatively low. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance details are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/31010841/Screenshot-2025-07-31-at-10.27.48%E2%80%AFAM.png" alt="" class="wp-image-1008297" /></a></figure>
Photo Courtesy: Dragos Asaftei on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/46127671/amazon-loses-top-ai-leader-in-high-stakes-talent-shuffle" target="_blank" rel="noreferrer noopener">Amazon Loses Top AI Leader In High-Stakes Talent Shuffle</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NFLX

Satya Nadella Says He Used To Gaze Over The Lake And Wish Netflix Would Use Azure, But Is Happy The Tide Has Turned With OpenAI

Pharming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) raises FY2025 sales outlook from $325.000 million-$340.000 million to $335.000 million-$350.000 million vs $327.467 million estimate.

PHAR

Pharming Raises FY2025 Sales Guidance from $325.000M-$340.000M to $335.000M-$350.000M vs $327.467M Est

argenx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) reported quarterly earnings of $3.74 per share which beat the analyst consensus estimate of $2.77 by 34.87 percent. This is a 731.11 percent increase over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $967.19 million which beat the analyst consensus estimate of $868.16 million by 11.41 percent. This is a 97.62 percent increase over sales of $489.43 million the same period last year.

ARGX

argenx Q2 EPS $3.74 Beats $2.77 Estimate, Sales $967.19M Beat $868.16M Estimate

Analysts and experts are reacting to the Federal Reserve keeping its benchmark interest rate unchanged at 4.25% to 4.50% on Wednesday&#8217;s Federal Open Market Committee Meeting, amid mounting pressure from President Donald Trump to deliver immediate and aggressive rate cuts.
What Happened: Economist Mohamed El-Erian noted that yet again, &#8220;it is the post-FOMC press conference that moves the markets,&#8221; rather than the outcome of the meeting itself. 
El-Erian, who is currently the Chief Economic Adviser at Allianz, highlighted the fact that &#8220;stocks fall, bond yields rise, and the dollar strengthens,&#8221; as a result of the Fed&#8217;s remarks, while adding that Fed Chair Jerome Powell &#8220;sounds more hawkish than many expected on the outlook for policy rates.&#8221;
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46735480/bitcoin-ethereum-xrp-dogecoin-decline-after-federal-reserve-holds-rates">Bitcoin, Ethereum, XRP, Dogecoin Decline After Federal Reserve Holds Rates</a>
Here, El-Erian is referring to the Fed&#8217;s readiness to keep rates elevated if needed, not giving any hints of possible rate cuts in the next meeting.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Once again, it is the post-FOMC press conference that moves the markets: Stocks fall, bond yields rise, and the dollar strengthens as Chair Powell sounds more hawkish than many expected on the outlook for policy rates.<a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a> <a href="https://twitter.com/hashtag/FederalReserve?src=hash&amp;ref_src=twsrc%5Etfw">#FederalReserve</a> <a href="https://t.co/s1lt3KuFRL">pic.twitter.com/s1lt3KuFRL</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1950636773610287329?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Former Boston Fed President Eric Rosengren warned that this meeting was unlikely to offer clear forward guidance. He pointed out that the labor market remains tight, saying &#8220;unemployment still at full employment,&#8221; and inflation continues to hover above the Fed's 2% target.
In his view, policymakers are likely to maintain a cautious, &#8220;data dependent&#8221; approach rather than committing to a definitive path.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Expect little clarity from this fomc meeting. Unemployment still at full employment, inflation has leveled off well above target. Expect to continue to be &quot;data dependent&quot; with the possibility of two dissents being of little signaling value to the future path of the ff rate
&mdash; Eric Rosengren (@EricSRosengren) <a href="https://twitter.com/EricSRosengren/status/1950535580409795036?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Goldman Sachs&#8217; Ashish Shah, notes the &#8216;historic&#8217; dissent vote, referring to the fact that the Central Bank&#8217;s decision was not unanimous, but was reached by a 9-2 vote. 
&#8220;It's the first time we've seen two board members dissent since 1993,&#8221; he says, adding that &#8220;As expected Governors Bowman and Waller were dovish outliers, with the majority of the FOMC instead preferring to wait to learn more about the inflation process over the summer,&#8221; as quoted by Bloomberg finance correspondent, Sonali Basak.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Goldman&#39;s Ashish Shah: &quot;As expected Governors Bowman and Waller were dovish outliers, with the majority of the FOMC instead preferring to wait to learn more about the inflation process over the summer.&quot; It&#39;s the first time we&#39;ve seen two board members dissent since 1993. Market…
&mdash; Sonali Basak (@sonalibasak) <a href="https://twitter.com/sonalibasak/status/1950625003520868660?ref_src=twsrc%5Etfw">July 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Powell had told Congress over a month ago that the Fed&#8217;s <a href="https://www.benzinga.com/markets/economic-data/25/06/46077396/powell-interest-rates-trump-inflation-tariffs">near-term policy uncertainty</a> revolves entirely around Trump&#8217;s tariffs. &#8220;Increases in tariffs this year are likely to push up prices and weigh on economic activity,&#8221; Powell said during the hearing.
Despite his verbal jabs at the Fed Chair, Trump said last week that he <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46621837/trump-says-not-necessary-to-fire-jerome-powell-but-presses-fed-chair-on-rate-cuts-and-2-5-billion-renovation-id-love-him-to-lower-interest-rates">does not intend</a> to fire Powell, saying that, &#8220;To do so is a big move and I just don't think it's necessary.&#8221;
He did, however, continue to press for lower interest rates, saying that &#8220;I'd love him to lower interest rates,&#8221; during a visit to the Fed&#8217;s headquarters last week. 
Photo Courtesy: Poetra.RH on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46733603/fed-holds-trump-powell-waller-bowman-interest-rates">Fed Skips Rate Cut Again—But Reveals Something We Haven&#8217;t Seen Since 1993</a></li>
</ul>

Government

Bonds

Federal Reserve

Fed Holds Rates Amid Trump's Demands For A Cut: Powell 'More Hawkish Than Anyone Expected,' Say Economists — Historic' Dissent Noted

ING Groep (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ING#NYSE">ING</a>) reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.53 by 19.54 percent. This is a 8.62 percent increase over earnings of $0.58 per share from the same period last year. The company reported quarterly sales of $6.465 billion which beat the analyst consensus estimate of $5.649 billion by 14.45 percent. This is a 5.05 percent increase over sales of $6.154 billion the same period last year.

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