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Rubrik

Rubrik Inc is a company that offers data security solutions to organizations ranging from the largest companies world-wide to mid-sized smaller customers. Its platform is architected to help organizations achieve cyber resilience, which encompasses cyber posture and cyber recovery. It enables organizations to confidently accelerate digital transformation and leverage the cloud to realize business agility. Geographically, the company operates in the Americas, EMEA (Europe, the Middle East, and Africa) and APAC (Asia Pacific). It generates maximum revenue from Americas.

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Indicazioni su 5 azioni, dal tech al gaming e utility. Quali comprare secondo l&#39;esperto di CNBC e quali meritano solo attenzione?

Jim Cramer svela le sue carte: titoli da comprare (uno sull&#39;onda di GTA) e da monitorare

Jim Cramer Reacts To Friday Market Plunge And Hints At His Next Buy

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L&#39;esperto di Mad Money si esprime: quali titoli meritano attenzione e quali no? Analisi e consigli per gli investitori.

Jim Cramer: ecco le azioni che consiglia di comprare (e da evitare)

Macro Economic Events

Politics

Global

Economics

General

INDA

Reuters Reports That Live On CNBC, White House's Hassett Says Hopeful That India Will Open Up Its Markets Up; A Deal With India Will Be An Absolute Game Changer For The Global Economy

Wells Fargo analyst Finian O'Shea maintains Ares Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCC#NASDAQ">ARCC</a>) with a Overweight and raises the price target from $22 to $23.

Price Target

Analyst Ratings

ARCC

Wells Fargo Maintains Overweight on Ares Capital, Raises Price Target to $23

Harley-Davidson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>)&nbsp;shares are&nbsp;trading higher on Wednesday&nbsp;after the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/n46716862/harley-davidson-delivers-second-quarter-financial-results-and-announces-hdfs-transaction-with-kkr-" rel="noreferrer noopener">second-quarter fiscal 2025</a> earnings.
The company reported a&nbsp;23% year-on-year quarterly sales decline to $1.04 billion, missing the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a> of $1.11 billion.
Harley-Davidson&#8217;s earnings per share of 88 cents missed the analyst consensus&nbsp;estimate of 100 cents.
Global motorcycle retail sales down 15% Y/Y, driven by a volatile&nbsp;macroeconomic environment and overall consumer uncertainty.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45144069/why-motorcycle-manufacturer-harley-davidsons-stock-is-rising-today" rel="noreferrer noopener">Why Is Motorcycle Manufacturer Harley-Davidson&#8217;s Stock Rising Today?</a>
Revenue from the Motorcycles and Related Products segment (HDMC) decreased 23%, driven primarily by the planned decrease in wholesale shipments, partially offset by favorable global pricing and foreign currency.
Global motorcycle shipments decreased by 28% due to planned dealer inventory reduction and soft demand.
Revenue from Motorcycles fell 27%, Parts &amp; Accessories dropped 4%, Apparel dropped 13%, and Licensing grew by 8%.
The gross profit margin in HDMC contracted 350 basis points Y/Y to 28.6%.
Consolidated operating income declined 53% primarily driven by a decline of 69% at HDMC. At the LiveWire segment, the operating loss improved by&nbsp;$10 million, 34% lower than the prior year&#8217;s loss.
Harley-Davidson generated approximately $367 million in cash from operating activities in the quarter. As of June 30, it held cash and equivalents of $1.6 billion.
<h2 class="wp-block-heading">Partnership</h2>
Harley-Davidson Chairman and CEO Jochen Zeitz acknowledged that second-quarter results remained under pressure due to a challenging commercial environment for discretionary products and ongoing tariff uncertainty.
However, he emphasized the company&#8217;s excitement over securing a strategic partnership for HDFS with KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and PIMCO, which delivers substantial value across the board. The transaction values HDFS at approximately 1.75 times its post-transaction book value and is expected to unlock $1.25 billion in cash.
Harley-Davidson plans to use the proceeds to reduce debt by $450 million and accelerate its $1 billion share buyback program by repurchasing $500 million in the second half of 2025. The company also retains the flexibility to invest up to $300 million in future growth opportunities.
<h2 class="wp-block-heading">Outlook</h2>
On May 1, 2025, Harley-Davidson withdrew its <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">full-year 2025 financial outlook</a>—originally issued on February 5—due to ongoing uncertainty around global tariffs and broader macroeconomic conditions.
Given the continued unpredictability in the global tariff environment and consumer demand for discretionary products, it still withheld its full-year 2025 financial outlook for HDMC.
For LiveWire, it projects an operating loss of $59–$69 million and expects total cash use to range between $50–$60 million.
Following the HDFS transaction, it expects HDFS to generate full-year 2025 operating income between $525 million-$550 million.
The stock has plunged 24% year-to-date as economic headwinds, including global tariffs, affected demand for its motorcycles. Leisure vehicle demand in the U.S. has declined as consumers pull back on non-essential spending amid economic uncertainty.
Harley-Davidson missed the topline estimates in three of the last four quarters and the EPS estimates in two of the last four quarters.
Price Action: HOG&nbsp;shares traded higher by 19.30% at $27.37 at last check on Wednesday.
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Photo courtesy Shutterstock

Earnings

Guidance

Buybacks

Movers

Harley-Davidson Stock Rallies Despite Slump In Bike Sales - Here's Why

XBP Europe Holdings, Inc. ("XBP Europe") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XBP#NASDAQ">XBP</a>), a pan-European integrator of bills, payments, and related solutions and services, has finalized its acquisition of Exela Technologies BPA, LLC ("BPA"), a leading provider of business process automation solutions. The combined entity will operate under the new name XBP Global Holdings, Inc. ("XBP Global"), reflecting its expanded global footprint and capabilities.
This acquisition is expected to expand XBP Global's annual revenue to over $900 million, with a workforce of approximately 11,000 employees across 19 countries. The company now serves more than 2,500 clients, including over 60 Fortune 100 companies.

XBP Europe Finalizes Acquisition Of Exela Technologies BPA; Rebrands As XBP Global With Annual Revenue Of Over $900M And Expanded Global Reach

RBC Capital analyst Leonid Timashev maintains Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Sector Perform and raises the price target from $40 to $42.

ALKS

RBC Capital Maintains Sector Perform on Alkermes, Raises Price Target to $42

Wells Fargo analyst Elyse Greenspan maintains Principal Financial Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFG#NASDAQ">PFG</a>) with a Underweight and lowers the price target from $73 to $72.

Wells Fargo Maintains Underweight on Principal Financial Group, Lowers Price Target to $72

Paramount Resources (TSX:<a class="ticker" href="https://www.benzinga.com/stock/POU#TSX">POU</a>) reported quarterly earnings of $0.03 per share. This is a 94.74 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $165.200 million which beat the analyst consensus estimate of $131.000 million by 26.11 percent. This is a 64.23 percent decrease over sales of $461.900 million the same period last year.

Earnings Beats

TSX:POU

Paramount Resources Q2 EPS $0.03 Down From $0.57 YoY, Sales $165.200M Beat $131.000M Estimate

The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) shares <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">surged</a> Wednesday after the confectionery giant reported second-quarter earnings and sales that exceeded expectations, driven by volume gains and strategic execution across its U.S. confectionery and salty snacking businesses.
The company reported second-quarter adjusted earnings per share of $1.21, beating the analyst <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/n46716087/hershey-reports-second-quarter-2025-financial-results" rel="noreferrer noopener">consensus estimate of 98 cents</a>. Quarterly sales of $2.61 billion (+26% year over year) surpassed the Street view of $2.52 billion.
&#8220;Investments in our brands and impactful innovation, coupled with effective execution, are driving solid sales and share gains across both our U.S. confection and salty snacking business,&#8221; said&nbsp;Michele Buck, The Hershey Company President and CEO.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46497360/hershey-could-get-q3-sugar-rush-thanks-to-a-cocoa-crash" rel="noreferrer noopener">Hershey Could Get Q3 Sugar Rush Thanks To A Cocoa Crash</a>
Volume increased by about 21 points, largely due to factors such as inventory normalization in North America Confectionery and International segments following the ERP rollout in the second quarter of 2024. The shift in the Easter calendar and earlier Halloween shipments compared to last year also contributed.
Hershey&#8217;s&nbsp;North America Confectionery segment net sales were&nbsp;$2.09 billion&nbsp;in the quarter under review, an increase of 32%. The company&#8217;s&nbsp;international segment increased 4.4% versus the same period last year to&nbsp;$213.7 million.
Adjusted gross margin was 38.1% in the second quarter, a decrease of 510 basis points year over year, as higher commodity and manufacturing costs more than offset higher volume, net price realization, supply chain productivity and transformation program net savings.
The company reported adjusted operating profit of&nbsp;$410.6 million,&nbsp;up 7.1% year over year driven by higher sales. The adjusted operating profit margin of 15.7% declined 280 basis points.
The company exited the quarter with cash and equivalents worth $912.35 million. The company&#8217;s long-term debt as of quarter-end totaled $5.18 billion, higher than $3.19 billion as of December 31, 2024.
The company announced quarterly dividends of&nbsp;$1.370&nbsp;on the common Stock and&nbsp;$1.245&nbsp;on the Class B Common Stock. The dividends are payable&nbsp;on September 15, 2025.
<h2 class="wp-block-heading">Outlook</h2>
Hershey has reaffirmed its full-year 2025 revenue guidance of at least $11.43 billion, slightly below the consensus estimate of $11.44 billion.
Hershey now expects adjusted earnings per share to decline between 36% and 38%, compared to its prior guidance of a mid-30% range decline.
The company anticipates full-year tariff expenses of around $170 to $180 million and capital expenditures between $425 million and $450 million.
It also expects savings from its Agility &amp; Automation Initiative to reach approximately $150 million, up from the earlier estimate of $125 million.
Price Action: HSY shares are trading higher by 4.02% to $193.71 at last check Wednesday.
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Photo via Shutterstock

Equities

Tariffs Take A Bite Out Of Hershey's Outlook

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) stock gained on Wednesday after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/n46716715/garmin-announces-second-quarter-2025-results" rel="noreferrer noopener">second-quarter 2025</a>&nbsp;results.
The company reported quarterly revenue growth of 20% year-on-year to $1.815 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a> of $1.696 billion.&nbsp;
The GPS navigation and wearable technology company&#8217;s adjusted EPS of $2.17 topped the&nbsp;analyst consensus estimate&nbsp;of $1.89.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/reiteration/25/05/45145201/garmins-strong-auto-outdoor-growth-drives-analyst-rating-despite-softer-fitness-marine-sales" rel="noreferrer noopener">Garmin&#8217;s Strong Auto, Outdoor Growth Drives Analyst Rating, Despite Softer Fitness, Marine Sales</a>
Segments: Revenue from Fitness increased by 41% year-over-year to $605.43 million, driven by strong demand for advanced wearables. Outdoor revenue increased by 11% Y/Y to $490.36 million, primarily due to growth in adventure watches.
Aviation revenue rose 14% Y/Y&nbsp;at $249.37 million,&nbsp;driven by the OEM and aftermarket product categories. Marine revenue increased by 10%&nbsp;Y/Y&nbsp;to $299.26 million, with growth across multiple categories led by chartplotters. Auto OEM&nbsp;grew 16% Y/Y&nbsp;to $170.15 million, primarily driven by growth in domain controllers.
The gross margin increased to 58.8%, up from 57.3% Y/Y. The&nbsp;operating margin was 26.0% compared to 22.7% a year ago.
Garmin generated $127.5 million in free cash flow for the quarter, compared to $218.2 million a year ago.&nbsp;As of June 30, 2025, it&nbsp;held $3.9 billion in cash and equivalents.
M&amp;A: Garmin <a href="https://www.benzinga.com/pressreleases/25/07/n46705270/garmin-acquires-mylaps-a-leading-sports-timing-company" target="_blank" rel="noopener">has announced the</a> acquisition of MYLAPS, a Dutch company known for its integrated timing, live tracking, and performance analysis tools that enhance the sports experience for millions of athletes and fans. The financial terms of the deal remain undisclosed. Operating across North America, Europe, Asia and Australia, MYLAPS provides data-driven technology solutions to top brands and race organizers in running, cycling, motorsports, and equestrian events. Headquartered in Haarlem, the Netherlands, MYLAPS employs over 200 full-time associates globally.
Garmin CEO Cliff Pemble stated that the company delivered another strong quarter, achieving double-digit growth across all segments. He attributed the performance to a robust lineup of innovative, highly differentiated products that continue to resonate with customers. Pemble added that Garmin&#8217;s results so far in 2025 have exceeded expectations, leading the company to raise its full-year guidance with increased confidence.
FY25 Outlook: Garmin now expects revenue of $7.10 billion (up from prior $6.85 billion) versus the <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">analyst consensus estimate</a> of $6.86 billion. It expects an adjusted EPS outlook of $8.00 (<a href="https://www.benzinga.com/news/earnings/25/04/45107024/garmin-lifts-sales-outlook-but-tightening-margin-sends-stock-sliding" target="_blank" rel="noreferrer noopener">up from the prior estimate of $7.80</a>) against the analyst consensus estimate of $7.93. 
Garmin stock surged over 16% year-to-date, topping the S&amp;P 500 Consumer Discretionary Sector Index&#8217;s (where Garmin is a component) less than 1% negative returns. This was supported by the company&#8217;s strong financial performance, particularly in its fitness and outdoor segments, as well as a positive outlook.
Price Action: GRMN stock is up 2.80% at $245.99 in the premarket as of the last check on Wednesday.
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</ul>
Photo: Shutterstock

GRMN

Garmin Stock Climbs After Strong Q2 Beat, Fitness And Outdoor Sales Surge, MYLAPS Acquisition

Wells Fargo analyst Elyse Greenspan maintains Brown &amp; Brown (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) with a Overweight and lowers the price target from $127 to $104.

Wells Fargo Maintains Overweight on Brown & Brown, Lowers Price Target to $104

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46677711/anthony-scaramucci-says-itll-be-a-big-deal-if-jamie-dimon-led-jpmorgan-allows-lending-against-bitcoin">the largest U.S. bank with over $4 trillion in assets</a>, has partnered with Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to roll out a suite of crypto access features for its 80 million-plus customers, the companies announced on July 30.
What Happened: Under the partnership, JPMorgan customers will soon be able to:
<ul class="wp-block-list">
<li>Use Chase credit cards to fund Coinbase purchases,</li>
<li>Redeem Chase Ultimate Rewards points for USDC, a U.S. dollar-pegged stablecoin, and</li>
<li>Link Chase bank accounts directly to Coinbase for streamlined crypto transactions.</li>
</ul>
Coinbase <a href="https://www.coinbase.com/en-gb/blog/Coinbase-and-JPMorgan-Chase-join-forces-to-make-it-even-easier-to-access-crypto">says</a> the rollout will begin in fall 2025, with points-to-USDC redemption and bank integration scheduled for 2026.
This collaboration signals growing comfort among major financial institutions in offering regulated access to crypto services. 
Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46718377/could-the-short-dollar-trade-tank-bitcoin-analysts-say-it-might-under-one-condition">Could The &#8216;Short Dollar&#8217; Trade Tank Bitcoin? Analysts Say It Might—Under One Condition</a>
Why It Matters: JPMorgan has previously maintained a cautious but steadily evolving approach to the crypto sector.
CEO Jamie Dimon has publicly criticized Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the past, but under his leadership, the firm has gradually integrated blockchain solutions and participated in digital asset pilots via Onyx, its blockchain division. 
In 2020, JPMorgan began providing banking services to Coinbase and Gemini, signaling an early move into the crypto sector. 
In May 2025, the bank settled its first transaction on a public blockchain, partnering with Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) and Ondo Finance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>). 
In June 2025, JPMorgan launched JPMD, a deposit token on Coinbase's Base blockchain, designed for institutional clients to facilitate 24/7 settlements and cross-border payments.
The partnership with Coinbase, the largest publicly traded U.S. crypto exchange, brings JPMorgan's retail clients into direct contact with crypto markets through stablecoins, credit integration, and loyalty rewards.
The new program will allow users to convert Chase Ultimate Rewards into USDC on Coinbase's Layer 2 network, Base, marking the first time a major U.S. rewards program has enabled point-to-crypto conversion.
Coinbase described the collaboration as part of its broader effort to bridge traditional finance with crypto, offering seamless onramps for millions of users.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$LINK

$ONDO

COIN

JPMorgan Partners With Coinbase To Expand Crypto Access For 80M Customers

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/30023950/Kaibo.jpeg" alt="" class="wp-image-16624" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/30023950/Kaibo.jpeg 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/30023950/Kaibo-300x200.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/30023950/Kaibo-768x512.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The e-commerce giant has reportedly purchased Hong Kong grocery chain Kai Bo, aiming to bring its integrated retailing model to the city's local market
Key Takeaways:
<ul class="wp-block-list">
<li>JD.com has reportedly acquired 70% of Hong Kong's Kai Bo supermarket chain, giving it access to the grocer's retail network and property assets</li>
<li>The e-commerce giant could use the chain to extend its core Mainland instant retail business overseas, combining its supply chain strengths with Kai Bo's local presence</li>
</ul>
The fierce real-time retail battle raging on the Chinese mainland could be coming soon to nearby Hong Kong.
That's how things appear, following <a href="https://www.scmp.com/tech/big-tech/article/3319042/jdcom-reportedly-buys-majority-stake-hong-kongs-kai-bo-grocery-chain">reports</a> that e-commerce giant JD.Com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) (9618.HK) has purchased 70% of Hong Kong supermarket chain Kai Bo for HK$4 billion ($512 million). If true, the acquisition could represent a major strategic expansion for JD into Hong Kong's real-time retail market, also known as "instant retail" – a growing movement in China as companies race to deliver goods ordered online as quickly as possible.
Completed over four months ago, the deal gives JD.com access to Kai Bo's retail network and real estate assets, according to the reports. It features a transition period clause stipulating that Kai Bo founder Lam Hiu-ngai and the chain's current management team will retain operational control for the next three years. During this period, JD will not seek full operational control to ensure a smooth transition.
Kai Bo's parent companies, Moretide Investments and Hai Feng Food, have reportedly notified their merchant partners about an ongoing "business transfer." They plan to restructure operations, transferring the supermarket and wholesale businesses to a newly established Hong Kong entity, Kai Bo Supermarket (Hong Kong) Co. Ltd., effective from Aug. 1, according to the reports.
JD has not confirmed the reports, saying only that the actual situation differs from the media coverage and emphasizing that only official announcements are authoritative. Sources have indicated that the actual transaction value may be significantly lower than the figure contained in the media reports.
<h4 class="wp-block-heading">From hawker to grocery magnate</h4>
Founded in 1991, Kai Bo is locally known as a budget friendly neighborhood supermarket chain. The rise of its founder, Lam Hiu-ngai, is the stuff of local business lore. Lam arrived in Hong Kong from the Mainland city of Chaozhou in the 1980s, and started out working as an unlicensed hawker in the city's Chai Wan district. He later co-founded a frozen meat shop with friends before independently establishing Kai Bo. From a single small shop in the city's working class Shau Kei Wan district, Kai Bo has grown into a chain with over 90 outlets and more than 1,000 employees.
For JD, Kai Bo provides a channel to extend its highly efficient and powerful supply chain on the Chinese mainland to Hong Kong, which could also act as a springboard for future additional overseas expansion. JD has direct procurement channels with tens of thousands of Chinese manufacturers. Its self-built warehousing, logistics, and cold chain systems give the e-commerce giant a highly efficient network allowing it to procure, move around and deliver a wide range of products within the vast Mainland market.
As one of a limited number of local supermarket chains in Hong Kong with a major store network and its own delivery capabilities, Kai Bo could serve as an ideal beachhead for JD to bring its supply chain model to the city. Efficient use of its Mainland networks could help JD to bypass import distributors and other intermediaries and directly introduce daily necessities, popular brands, and private label products from the Mainland into Hong Kong. &nbsp;
Such a model would not only offer good prices for Hong Kong consumers but could also open a direct channel for JD's Mainland suppliers to reach overseas retail endpoints, while also acting as a launchpad for markets like Southeast Asia.
The higher-margin Hong Kong market has long been a focus for JD's efforts to internationalize its real-time retail and supply chain capabilities. The company's JD Logistics (2618.HK) arm currently operates fulfillment centers in Hong Kong's Kwun Tong, Kwai Tsing, Sha Tin and Yuen Long districts. It also launched a "front warehouse" pilot program in Hong Kong in 2022 to strengthen its capabilities in same-day and next-day delivery services. Its establishment of a cross-border cold chain center in Yuen Long last year also underscores the company's long-term commitment to building up Hong Kong as an offshore warehousing and distribution center.
In China's increasingly heated real-time retail battle, JD is taking a different approach from its peers.&nbsp;Meituan's&nbsp;(3690.HK) focus is a local delivery-based platform that connects convenience stores, supermarkets, and consumers in real-time without extending into the supply chain.&nbsp;Alibaba&nbsp;(BABA.US; 9988.HK) is using a more in-house approach that connects its Ele.me food delivery arm with its Freshippo supermarket chain and Tmall Supermarket, supporting those with its upstream Cainiao Logistics network. But Alibaba has yet to start actively bringing that integrated model to the Hong Kong retail market.
<h4 class="wp-block-heading">Full chain capabilities</h4>
Thus, JD's move with Kai Bo could make it the only Mainland player in Hong Kong with full-chain capabilities, including direct sourcing from factories, cold chain warehousing, online platforms, logistics delivery and a brick-and-mortar store network. Notably, JD has prior experience in Hong Kong through its investment in Qian Dama, a fresh meat and produce chain. With JD as its second-largest shareholder, Qian Dama officially entered Hong Kong in 2018 and now operates around 50 stores locally.
Kai Bo also offers JD.com substantial real estate assets – an important element in a notoriously expensive property market. While Hong Kong shop rents have retreated from recent highs with a local economic slowdown, Kai Bo's real estate will still help JD to reduce its fixed operating costs in the city, while also providing a hedge for the day when Hong Kong's property market starts to recover.
JD's shares fell for two consecutive trading days after the latest reports came out, dropping about 1.3%, reflecting market concerns about the rumored high transaction price. JD currently trades at a depressed price-to-earnings (P/E) ratio of 8.3 times, well below Meituan's 21.5 times, indicating investors aren't so interested in its story right now.
But that could change if it confirms the Kai Bo acquisition and demonstrates that it can successfully integrate its Mainland supply chains into the Hong Kong retail landscape, with potential to extend that capability to Southeast Asia. Such a move could mark the start of a new globalization campaign for its instant retail business, using a model that could mark a turning point for JD's undervalued stock.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Asia

Opinion

China's Raging Retail War May Spill Into Hong Kong, As JD.com Reportedly Buys 70% Of Supermarket Chain Kai Bo

Tamarack Valley Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TVE#TSX">TVE</a>) reported quarterly earnings of $0.17 per share. This is unchanged from the same period last year. The company reported $346.152 million in sales this quarter. This is a 9.61 percent decrease over sales of $382.975 million the same period last year.

TSX:TVE

Tamarack Valley Energy Q2 EPS $0.17, Same YoY, Sales $346.152M Down From $382.975M YoY

As the healthcare landscape evolves with new legislation and shifting demographics, Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is adapting to these changes through strategic adjustments. This adaptability is reflected in their second-quarter earnings report, which exceeded analysts&#8217; expectations despite a decline in adjusted EPS <a href="https://www.benzinga.com/calendars/earnings">compared to last year.</a>
Humana on Wednesday posted a second-quarter adjusted EPS of $6.27, down from $6.96 a year ago, beating the consensus of $5.90.
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<li>HUM stock is on the move, climbing higher. <a href="https://www.benzinga.com/quote/HUM" target="_blank" rel="noreferrer noopener">See the chart here.</a></li>
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<h2 class="wp-block-heading">Humana&#8217;s Earnings Beat Raises Eyebrows</h2>
The company reported sales of $32.39 billion, beating the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46715297/humana-reports-second-quarter-2025-financial-results-raises-full-year-2025-adjusted-eps-and-revenu" rel="noreferrer noopener">consensus of $31.89 billion</a>.
Increased revenue was driven by higher per-member Medicare and state-based contract premiums, with the Medicare increase primarily resulting from an increased direct subsidy due to the Inflation Reduction Act (IRA), as well as membership growth in the company&#8217;s state-based contracts and stand-alone PDP businesses.
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46503726/humana-shares-decline-after-losing-medicare-bonus-payment-lawsuit-what-to-know" target="_blank" rel="noreferrer noopener">Humana Shares Decline After Losing Medicare Bonus Payment Lawsuit: What To Know</a>
Humana&nbsp;ended the quarter with 14.84 million in total medical membership, down from 16.19 million a year ago.
Individual Medicare Advantage membership&nbsp;<a target="_blank" href="https://humana.gcs-web.com/static-files/b62138dc-721b-460e-8579-557be91ba7da" rel="noreferrer noopener">reached</a> 5.23 million, down from 5.62 million a year ago.
<h2 class="wp-block-heading">Can Membership Declines Signal Deeper Issues?</h2>
Medicare stand-alone PDP membership was 2.43 million, up from 2.34 million the previous year. The insurance segment benefit ratio of 89.9% aligns with the previously disclosed expectation of approximately 90%.
Guidance: Humana expects 2025 adjusted earnings of approximately $17 per share compared to prior guidance of $16.25 and the consensus of $16.36, supported by solid execution and results.
Updated adjusted EPS guidance now contemplates approximately $100 million of incremental investments to improve member and patient outcomes and support operational excellence, positioning the company for long-term success.
Revenue is expected to be at least&nbsp;$128 billion in 2025, compared to the consensus estimate of $126.72 billion and the previous&nbsp;guidance&nbsp;of&nbsp;$126 billion—$128 billion, supported by better than anticipated individual MA membership and higher than expected payor-agnostic patient growth and script volumes in CenterWell, the company <a target="_blank" href="https://humana.gcs-web.com/static-files/ec7b3f73-7995-4441-afab-90093d8798e9" rel="noreferrer noopener">said</a> in prepared remarks on Wednesday.
<h2 class="wp-block-heading">How The Inflation Reduction Act Impacts Revenue</h2>
Sales guidance includes insurance segment sales of at least $123 billion, compared to <a target="_blank" href="https://www.benzinga.com/general/health-care/25/04/45108509/humana-does-not-alter-2025-outlook-despite-sales-miss-and-medicare-membership-decline" rel="noreferrer noopener">prior guidance of $121 billion—$123 billion</a>, and center-well segment sales of at least $21.5 billion, up from the previous range of $20.5 billion—$21.5 billion.
The insurer anticipates a 2025 decline of &#8216;up to 500,000&#8217; individual MA members, compared to the previous expectation of a decline of &#8216;approximately 550,000&#8217; members.
For 2025, Humana expects its insurance segment&#8217;s benefit ratio guidance of approximately 90.1-90.5%.
HUM Price Action: Humana shares were up 8.33% at $251.99 at the time of publication on Wednesday<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">, according to Benzinga Pro data.</a>
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