00:00As US markets closed just hours ago, attention is now turning to the latest round of quarterly earnings reports from
00:07major corporations offering fresh insights into business performance and broader market trends.
00:13Here are some of the key corporate developments shaping investor sentiment.
00:19CVS Health reported better-than-expected second-quarter results on Wednesday, but its updated 2026 forecast and 2027 profit outlook
00:27appeared to underwhelm some investors, and its shares fell nearly 6%.
00:32The company increased its 2026 earnings forecast to $7.90 to $8.10 per share, raising both ends by $0
00:41.60, which was less than the magnitude of the second quarter bid, and set the new 2027 earnings bar of
00:47at least $8.44 per share.
00:50Chief Investment Strategist at Hightower Advisors Stephanie Ling said, for the second half of 2026, the range implies a single
00:57-digit growth rate below Wall Street consensus.
00:59Hightower also pointed to concerns about possible pressure from medical costs and macroeconomics during the second half of 2026.
01:08CVS's shares were down 5.8% at $98.39 after falling almost 10% earlier.
01:17Life insurer MedLife posted a jump in second quarter, adjusted profit on Wednesday, powered by strong underwriting and broad volume
01:25growth, with standout results in Asia and Latin America.
01:28The industry has continued to benefit from resilient demand, robust sales growth, and disciplined underwriting, while elevated interest rates have
01:36lifted investment returns.
01:38MedLife said premiums, fees and other revenue increased 7% in the second quarter to $13.7 billion.
01:46This typically reflects the income insurers earn from selling insurance policies, annuities, and related financial products.
01:53Group benefits, which include employer-sponsored insurance products, posted a 25% increase in adjusted profit to $503 million.
02:03Asia-adjusted earnings grew 21% in the quarter on a reported basis, while Latin America logged a 15%
02:11increase.
02:12The company's second quarter net investment income surged 18% to $6.7 billion.
02:19Insurers typically generate investment income by investing premiums they collect, primarily in bonds and other low-risk assets.
02:27MedLife said adjusted earnings per share rose 20% to $2.43 in the three months ended June 30.
02:37Doordash on Wednesday forecast third quarter gross order value and core profit above Wall Street estimates,
02:43after topping results for the prior three months on sustained demand for food, grocery and convenience deliveries.
02:49Consumers prioritising convenience, including for groceries and everyday essentials,
02:54have boosted demand for firms such as Doordash, which has been diversifying beyond restaurant deliveries.
02:59The company expects third quarter marketplace gross order value, GOV, the total dollar value of orders placed on its platform
03:07of $33 billion
03:09to $34 billion above analysis expectations of $32.64 billion, according to data compiled by LSEG.
03:18Last month, Doordash launched its in-house drone delivery program, Doordash Air,
03:23as part of efforts to reduce reliance on human curious and expand its logistic network.
03:27The company's third quarter adjusted earnings before interest, taxes, depreciation and amortisation are expected to be
03:35between $950 million to $1.10 billion, largely above expectations of $979.6 billion.
03:44For the second quarter ended June 30, marketplace GOV rose 36% to $33.08 billion,
03:50topping estimates of $32.08 billion.
03:54Adjusted EBITDA increased 40% to $914 million, compared with expectations of $841.8 million.
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