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Equities overtake real estate as No. 1 US wealth driver, Goldman says
Edgen Stock·Jul 23 2026, 14:52Share to
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[1] Equities surpass real estate as top US wealth driver for first time since WW2, Goldman says (https://www.reuters.com/business/finance/equi ...)[2] Goldman Sachs says equities have surpassed real estate as top US wealth driver for first time since WWII (https://cryptobriefing.com/goldman-sachs-equi ...)[3] Global Household Wealth Jumped in 2025, Raising Stakes for Profitability of AI (https://www.wsj.com/economy/global/global-hou ...)[4] Senior housing wealth reaches record level in first quarter (https://www.housingwire.com/articles/senior-h ...)
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Jul 23 2026, 16:58
Reliance beats Q2 estimates as record shipments lift earnings 42%
Reliance posted Q2 non-GAAP EPS of $6.27, beating guidance, as record shipments and border wall work drove revenue 26.5% higher to $4.63 billion. "Our teams delivered another excellent quarter, building on the positive momentum of the first quarter," President and Chief Executive Officer Karla Lewis said. Tons sold reached a record 1.79 million, up 7% sequentially and 10.8% year over year, outperforming the industry-wide increase of 5.5% by more than 5 percentage points. Average selling price per ton rose 7.8% sequentially, also surpassing management's expectations. Pretax income increased 41% year over year to $429.8 million. The border wall contract contributed $0.41 per share, more than double the $0.15 to $0.20 management had expected, with activity levels well above initial projections. For the third quarter, Reliance guided non-GAAP EPS of $6.40 to $6.60, implying year-over-year growth of 76% to 81%, including approximately $0.60 from border wall shipments. The company generated $162.2 million in cash from operations during the quarter despite a significant working capital increase tied to higher shipment volumes and metals pricing. Reliance returned $63.8 million to stockholders through dividends and ended the quarter with $235.4 million in cash and $1.7 billion in total debt, including $520 million drawn on its $1.5 billion revolving credit facility. Carbon steel, the company's largest product category, saw sales rise 28.2% year over year to $2.62 billion, with tons sold up 11.6%. Aluminum sales climbed 35.2% to $837.9 million, while stainless steel revenue increased 21.7% to $595.2 million. Gross profit margin on a FIFO basis — which management uses to assess ongoing performance — expanded to 30.5% from 30.1% in the first quarter. The guidance raise signals management expects demand to remain healthy across non-residential construction, aerospace, and semiconductor end markets. Investors will watch third-quarter results for continued margin expansion and further contributions from the border wall project. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 16:56
Hilton faces Q2 earnings test with $3.36B revenue, 3.6% EPS growth
**Key Takeaways:** - Hilton reports Q2 2026 earnings July 23 with consensus EPS of $2.28 - Revenue forecast at $3.36 billion, up 7.2% from a year ago - Consensus estimate revised up 0.4% over the past 30 days Hilton Worldwide Holdings Inc. is expected to report second-quarter earnings of $2.28 per share, up 3.6% from a year earlier, with revenue forecast at $3.36 billion representing 7.2% growth, according to consensus estimates compiled by the company. "Travel demand remains resilient across most regions, though we are monitoring near-term headwinds in select international markets," Hilton Chief Executive Officer Christopher Nassetta said on the company's first-quarter earnings call in April. The consensus EPS estimate has been revised upward by 0.4% over the past 30 days, reflecting analysts' collective reassessment of the quarter's outlook. Wall Street projects franchise and licensing fees of $815.06 million, up 9.4% year over year, while base and other management fees are seen at $105.24 million, an 8.5% increase. Incentive management fees are expected to decline 3.6% to $72.27 million, and ownership revenue is forecast at $334.62 million, up 0.8%. Cost reimbursement revenues, the largest line item, are projected at $1.93 billion, a 6.7% gain. The company's system growth continues to expand. Analysts expect managed rooms to reach 266,636, up from 258,183 a year ago, while owned rooms are seen at 14,932, down from 15,287. Hilton has been adding properties at a steady clip, with hotel openings and development pipeline growth supporting the revenue trajectory. The Q2 report comes as the broader hospitality sector benefits from sustained leisure and business travel demand, though regional disparities persist. A beat on both revenue and EPS could lift Hilton shares and reinforce confidence in the sector's momentum, while a miss tied to international headwinds may pressure the stock. Hilton shares have gained about 12% year to date, outperforming the S&P 500's consumer discretionary index. Investors will watch the company's forward guidance and any updates on its development pipeline for clues on second-half performance. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 16:53
Ubisoft beats Q1 bookings guidance as Black Flag remake exceeds annual expectations
Ubisoft reported first-quarter net bookings of €256M, slightly above guidance, as the Assassin's Creed Black Flag remake exceeded annual expectations within two weeks of launch. "This launch illustrates the enduring appeal of the Assassin's Creed brand, as well as the early benefits of our ongoing transformation," Yves Guillemot, co-founder and chief executive officer at Ubisoft, said. Net bookings fell 9.2% year-on-year to €255.8M in the three months ended June 30, compared with €281.6M a year earlier, reflecting a high comparison base that included significant bookings from Assassin's Creed Shadows following its March 2025 release. Digital net bookings totaled €206.2M, down 17.6%, representing 80.6% of total net bookings. Player recurring investment bookings reached €151.3M, down 0.4%, accounting for 59.1% of the total. The company confirmed its full-year outlook, expecting net bookings to decline by a high single-digit percentage and free cash flow consumption of no more than €500M. Second-quarter net bookings are forecast at around €370M. The confirmed lineup includes Rayman Legends Retold, launching Oct. 1, and Just Dance Decades of Hits, releasing Oct. 13. Assassin's Creed Black Flag Resynced, released July 9, achieved an 84 score on OpenCritic and Metacritic, making it the highest-rated Assassin's Creed title since the original Black Flag launched in 2013. The game reached about 105,000 concurrent players on Steam, a record for the franchise on PC, with sales led by the US and Chinese markets. The company continued executing its transformation plan, appointing former Take-Two Interactive executive Christoph Hartmann as general manager of Creative House 2, where he will oversee franchises including Tom Clancy's The Division, Ghost Recon and Splinter Cell. Ubisoft closed its Winnipeg and Belgrade studios and restructured its Barcelona studio as part of targeted rightsizing. Chief Financial Officer Frederick Duguet said some major productions had been pushed to fiscal 2028 and fiscal 2029 to improve quality in a more selective market, without providing specific titles. The company expects a significantly stronger pipeline over fiscal 2027-28 and 2028-29, supported by releases across major brands including Assassin's Creed, Far Cry and Ghost Recon, as well as an acceleration of live services driven by Rainbow Six Siege. On the mobile side, Invincible: Guarding the Globe delivered a record quarter in net bookings more than two years after launch, driven by the March release of the TV series' fourth season and a new in-game character. The guidance confirmation signals management expects near-term pressure from the transition year, while the delay of major titles to 2028-29 creates a pipeline gap that investors will need to weigh against the early success of the Black Flag remake. The company's next catalyst is the Rayman Legends Retold launch on Oct. 1 and the second-quarter earnings report in October. This article is for informational purposes only and does not constitute investment advice.