Economy
Disappointing Earnings News May Weigh on US Stocks
By Investors Hub
The major U.S. index futures are pointing to a lower opening on Friday following the mixed performance seen in the previous session. Negative sentiment may be generated in reaction to the latest batch of earnings news, including disappointing results from Amazon (AMZN).
Concerns about the latest developments in Washington may also weigh on the markets after Republicans failed in their latest attempt to repeal Obamacare.
The so-called “skinny repeal” failed by a vote of 49 to 51, with three Republican Senators joining with Democrats to stop the bill.
In U.S. economic news, the Commerce Department released a report showing that economic activity increased in line with economist estimates in the second quarter.
After an initial move to the upside, stocks turned mixed over the course of the trading session on Thursday. While the Nasdaq and the S&P 500 pulled back into negative territory, the Dow reached a new record closing high.
The Dow rose 85.54 points or 0.4 percent to 21,796.55, but the Nasdaq fell 40.56 points or 0.6 percent to 6,382.19 and the S&P 500 edged down 2.41 points or 0.1 percent to 2,475.42.
The early strength on Wall Street reflected a positive reaction to earnings news from some big-name companies, with Verizon (VZ) and Facebook (FB) moving notably higher.
However, traders took the opportunity to cash in on some of the recent strength in the markets, dragging the Nasdaq and the S&P 500 lower after they reached record intraday highs.
On the U.S. economic front, the Commerce Department released a report before the start of trading showing a substantial increase in durable goods orders in the month of June.
The Commerce Department said durable goods orders spiked by 6.5 percent in June after edging down by a revised 0.1 percent in May.
Economists had expected durable goods orders to surge up by 3.0 percent compared to the 1.1 percent drop originally reported for the previous month.
Excluding a jump in orders for transportation equipment, durable goods orders edged up by 0.2 percent in June after climbing by 0.6 percent in May. Ex-transportation orders had been expected to rise by 0.4 percent.
Meanwhile, a separate report from the Labor Department showed that initial jobless claims rose by more than expected in the week ended July 22nd.
The report said initial jobless claims climbed to 244,000, an increase of 10,000 from the previous week’s revised level of 234,000. Economists had expected jobless claims to rise to 241,000.
Airline stocks have moved sharply lower on the day, dragging the NYSE Arca Airline Index down by 3.4 percent. With the drop, the index fell to its lowest closing level in over two months.
Southwest Airlines (LUV) posted a notable loss despite reporting second quarter results that exceeded analyst estimates.
Considerable weakness was also visible among trucking and railroad stocks, with the Dow Jones Trucking Index and the Dow Jones Railroads Index slumping by 3.2 percent and 3.1 percent, respectively.
Biotechnology, semiconductor, and software stocks also showed notable moves to the downside over the course of the session, while strength was visible among energy and telecom stocks.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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