Brent crude futures rose 2% to $96 a barrel in early trading as the U.S. launched a new round of strikes on Iran and Yemen’s Houthis targeted oil tankers in the Red Sea, widening the Middle East conflict. Analysts warned that a simultaneous closure of the Strait of Hormuz and Bab el-Mandeb in the Red Sea would disrupt shipping routes for more than a quarter of the world’s oil and gas. Nearly five months of war have depleted global stockpiles and stoked inflation worldwide.

Molina Healthcare lifted its 2024 adjusted earnings forecast to at least $5.25 per share, up from at least $5.00, but its shares fell more than 9% in extended trading after a relatively modest guidance increase. The company said its Marketplace business faced pressure during the quarter as a larger share of members needed costly medical care than expected. Molina also flagged expected losses of $1.50 per share this year tied to a new Florida Medicaid contract and $1 per share related to its planned Medicare Advantage exit in 2027. The quarter’s adjusted EPS came in at $1.51 and the medical cost ratio was 92.2%.

IBM on July 22 cut its 2026 revenue growth forecast to 4%–5%, down from its prior guidance of more than 5% and below the analysts’ average estimate of a 4.8% increase. The change follows a 42% drop in second-quarter revenue from IBM’s Z mainframe, which pulled infrastructure revenue down 7%, while software revenue rose 5% but fell short of expectations. Second-quarter revenue increased 1% to $17.16 billion, missing estimates of $17.58 billion, and adjusted profit of $2.93 per share also came in below forecasts.

Nicaraguan President Daniel Ortega has said the country will stop holding elections, prompting a sharp response from Washington. U.S. Secretary of State Marco Rubio said Nicaragua should not expect “business as usual” with the United States. The U.S. buys 35% of Nicaragua’s coffee exports, and Nicaragua earns about half a billion dollars a year from coffee exports worldwide. With U.S. coffee supplies tight for four years and retail prices near decade highs, any import restrictions or higher tariffs could further squeeze availability.

Newmont (NEM.N) and Barrick (ABX.TO) are expected to deliver combined net profit of nearly $3.5 billion for the second quarter, up about 46% year on year, as gold prices rose 37% from a year earlier. Higher energy costs linked to the Iran war are expected to offset part of the earnings boost from stronger bullion. Analysts also expect the two miners to launch large-scale share buybacks.

Grupo Mexico reported second-quarter net profit of $2.20 billion, beating analysts’ $1.66 billion estimate as revenue rose 35% to $5.71 billion. Copper prices jumped 30.5% from a year earlier to $6.16 per pound, helping lift sales in its mining division by 41.3%. Copper output fell 3.7% to 257,537 metric tons, reflecting lower production in Peru and at its U.S. Asarco unit. The company kept its 2026 guidance of 1.034 million tons of copper and said Peru’s Tia Maria project was 42% complete, targeting start-up in the second half of the year.

3M raised its full-year profit outlook and reiterated that higher oil prices have lifted its expected annual cost hit to $150 million to $175 million. The increase follows July oil prices reaching their highest levels in more than a month amid escalating U.S.-Iran tensions and worries about disruptions to energy supplies through the Strait of Hormuz. The move reflects a rise in the supply-risk premium that has become a tangible driver of prices across oil futures and spot markets.

Mexican restaurant group Alsea (ALSEA.MX) on July 20 lowered its 2026 EBITDA growth forecast to low single digits from mid single digits. The company also reported a 53% year-on-year decline in second-quarter net profit. Alsea cited weak domestic consumer spending and cost pressure linked to peso volatility.

GameStop disclosed it now holds nearly 10% of eBay, after buying 3.5 million shares for roughly $381 million and settling 39 million shares via put/call pairs. CEO Ryan Cohen said “we’re coming for eBay one way or another” after eBay rejected his acquisition offer in May. GameStop shareholders last month approved an increase in the company’s authorized share count, giving it more flexibility to proceed. Cohen is also putting $500 million of his own money into the transaction.