🚀 United Airlines trims its earnings forecast

Market Overview
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Year To Date Performances:

1. United Airlines narrowed its 2025 earnings forecast to $9–$11 per share, down from its earlier $11.50–$13.50 estimate, citing ongoing headwinds like soft domestic demand and operational constraints at Newark Airport. Despite a 26% drop in net income year-over-year, adjusted Q2 earnings beat expectations at $3.87 per share. CEO Scott Kirby struck an optimistic tone, saying “the world is less uncertain” and projecting a strong finish to the year, though lower airfares and FAA-imposed flight cuts at Newark continue to pressure margins.

2. Ford is recalling nearly 700,000 Bronco Sport and Escape SUVs in the U.S. due to fuel injector cracks that can cause leaks and engine fires, following a year-long investigation by the federal government. The recall affects specific 2020–2024 models with 1.5-litre engines and expands on prior recalls that did not fully address the issue. Ford estimates the cost at \$570 million and is rolling out a software update as an interim fix while developing a permanent mechanical remedy. The injectors, supplied by Italy’s Dumarey Flowmotion Technologies, have been linked to at least eight fires.

3. Coinbase launched its new “Base App” on Wednesday, aiming to become the West’s first true “everything app” by bundling wallet, payments, trading, social media, messaging, and mini apps into one platform built on its Ethereum-based Base blockchain. Powered by USDC and integrated with Shopify for one-click checkout and retail payments, the app targets users beyond crypto traders offering tools like Base Pay and identity verification through Base Account. The move signals Coinbase’s shift from trading reliance to broader financial and social utility, riding a wave of favorable U.S. crypto policy under the Trump administration.

   Headlines

   1. Trading of 7&i in Japan was paused after Couche-Tard withdrew a $47 billion offer to acquire the company with the intention of modernizing and expanding throughout the US.

   2. Scale AI is cutting 14% of its workforce just weeks after a $14.3 billion investment by Meta.

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