WS #12115

From 500 msgs · 8 key-dev

The US-Iran conflict continues to escalate, with CENTCOM completing a fresh round of strikes targeting Iranian coastal defense systems and cruise missile sites on Greater Tunb Island. Iran threatens to block additional oil and gas export routes, and the Fujairah port is reported 'all but dead' after IRGC strikes. Oil prices are climbing for a fourth day, with Brent near $86. Meanwhile, a potential de-escalation signal emerges: an Iranian delegation is reportedly heading to Doha, Qatar, which could counter the prevailing bearish thesis on energy and indices. In corporate news, Morgan Stanley smashed Q2 estimates with record revenue of $21.35B, driven by a 69% surge in equities trading, and announced a $20B buyback program. PayPal surged 19% premarket on reports of a $60.50/share buyout offer from Stripe and Advent. Johnson & Johnson beat Q2 estimates and raised guidance, but shares fell on MedTech concerns. IBM plunged 25% after issuing a revenue warning. Apple Intelligence received China regulatory approval, lifting AAPL and BABA. Warren Buffett confirmed Berkshire's ~$31B GOOGL stake and said he still likes Apple. The dominant macro theme remains the Iran conflict ESCALATING, with second-order effects on energy, airlines, and consumer stocks, but the Doha delegation offers a potential counter-signal.

Topics

Key developments

  • CENTCOM completes fresh strikes on Iran; Iran threatens to block more trade routes
  • Iranian delegation heading to Doha, Qatar for talks
  • Morgan Stanley Q2 earnings beat: record revenue, $20B buyback
  • PayPal surges 19% premarket on $60.50/share buyout offer from Stripe and Advent
  • Apple Intelligence receives China regulatory approval, to incorporate Alibaba's Qwen AI
  • IBM plunges 25% after revenue warning, Q2 guidance below estimates
  • Johnson & Johnson beats Q2 estimates, raises guidance, but shares fall on MedTech concerns
  • Warren Buffett confirms Berkshire's ~$31B GOOGL stake, still likes Apple