ET News & Events

The major averages finished higher to start the week as markets returned from the holiday weekend with a constructive tone and chip stocks rebounded from recent weakness.Last week's weaker-than-expected labor report reduced some fears of additional near-term Federal Reserve tightening, which has helped improve risk appetite. Investors are now turning attention to Wednesday's Fed meeting minutes for clues on how policymakers view inflation and economic growth going into the second half of the year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SK Hynixwill offer 17.79M common sharesLockheed MartinUltra Maritime Solutions for $3.45BBroadcomwilla range of custom ASIC silicon products for AppleSolstice Advanced MaterialsElement Solutionsin a cash and stock deal valued at $14.5BComcast'sSkyITV Media in a deal valued at up to GBP 1.6B2. WALL STREET CALLS:BofAT-Mobileto BuyScotiabankfive cybersecurity names, citing growth potential stemming from AIGileadto Buy at HSBCBernsteinDatadogto Market PerformJetBlueto Underperform at Raymond James3. AROUND THE WEB:Energy Transferwon a $392M judgement in Texas over a failed attempt by San Antonio's city-owned utility CPS Energy to challenge the company over gas prices during the February 2021 Winter Storm Uri, Bloomberg reportsSuppliers plan to ship less than 1M iPhonefold units in 3Q26, which may push the start of device pre-orders and sales to Q4, with weeks of delivery delays, TF International analyst Ming-Chi Kuo said in a blog postCriteohas attracted a takeover offer backed by Vista Equity, Bloomberg saysDuring Sunday morning's government meeting, Deputy Minister Almog Cohen raised the issue of the sale of ZIMwith the government, Israel Hayom saysMicrosoftis eliminating 4,800 jobs, representing 2.1% of its workforce, with the company's Xbox division losing about one-fifth of its staff, CNBC reports4. MOVERS:TeraWulfincreases after announcing aIrengains in New York after Freedom Capitalthe stock to BuyDellhigher after President Trump said toKohl'slower after Morgan Stanleycoverage of the stock with an Underweight ratingEHangfalls in New York after JPMorganthe stock to Underweight5. EARNINGS/GUIDANCE:Clarivatebacked itsOndasprovidedInnovate EyewearreportedPepsiCotoon July 9Delta Air Linestoon July 10INDEXES:The Dow rose 155.84, or 0.29%, to 53,055.91, the Nasdaq gained 288.49, or 1.12%, to 26,121.16, and the S&P 500 advanced 54.19, or 0.72%, to 7,537.43.

Energy Transfer won a $392M judgement in Texas over a failed attempt by San Antonio's city-owned utility CPS Energy to challenge the company over gas prices during the February 2021 Winter Storm Uri, Bloomberg's Ryan Autullo reports. State District Judge Laura Salinas of Bexar County determined that the prices charged by Energy Transfer were consistent with charges to other parties during the weeklong freezing period in Texas, the author notes.

Energy Transfer announced an expansion of the Nederland NGL Export Terminal to meet additional customer demand. The project will increase ethane export capacity at Nederland by 240,000 barrels per day, along with 55,000 bpd of additional LPG capacity. One hundred percent of the ethane export capacity has been committed in long-term agreements running into the 2040's. Since Energy Transfer began exporting ethane out of Nederland in 2021, the company has exported over 430 million barrels. This project demonstrates that the continued growth in global NGL demand supports expansion of Energy Transfer's Nederland assets, which partnered with the company's wellhead-to-water system platform, creates a best-in-class franchise to provide North American energy to the rest of the world. As part of these transactions, Energy Transfer will also expand its Mont Belvieu to Nederland NGL export pipeline capacity to service the increased refrigeration capacity and construct two additional NGL ship docks. The company expects its previously announced expansion of the Nederland refrigerated propane and butane storage tanks to 1.2 million barrels and 0.8 million barrels, respectively, to be available in the first half of 2027. These assets, along with Energy Transfer's existing 1.3 million barrel refrigerated ethane tank, provide the largest refrigerated storage capacity for each of these products of any export complex on the U.S. Gulf Coast. The expansion project is expected to be placed into service in stages beginning in 2028. Following the anticipated completion of the additional docks in mid-2029, the refrigerated NGL export capacity at Nederland will be greater than 1.25 million bpd. Combined with the Marcus Hook NGL Export Facility capacity of 420,000 bpd, Energy Transfer's total NGL refrigerated export capacity will be approximately 1.7 million bpd.