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‘Pissed’ Ed Harris feels ‘misled’ by ‘inconsequential’ ‘Dutton Ranch’ role: ‘Get me the f–k out’
‘Pissed’ Ed Harris feels ‘misled’ by ‘inconsequential’ ‘Dutton Ranch’ role: ‘Get me the f–k out’
Pentagon identifies third US soldier killed in weekend attack by Iran
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‘Friends’ alum shares 25-year-old daughter’s ‘tough’ bone cancer diagnosis
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Andrew Tate’s new charges include 19 for ‘indecent images of a child’ and ‘extreme’ porn
‘The Odyssey’ Does Clytemnestra’s Messed Up Legend Justice With Just a Few Seconds of Screen Time
"Demand Remains Strong": GM Beats Expectations, Lifts Guidance For Second Time
GM beat Wall Street's second-quarter expectations on Tuesday, posting adjusted earnings of $3.57 per share on $48.03 billion in revenue as profitability improved despite softer vehicle sales. Adjusted EBIT reached $3.94 billion, up from $3.0 billion a year earlier, helped by lower tariff-related costs and stronger operating performance, according to Yahoo Finance.
The Detroit automaker also lifted its full-year guidance for the second time in 2026.
It's amazing what happens when the federal government isn't pressuring your business to convert entirely into an entirely new unprofitable line of products because "climate change"...
The report says that GM now expects adjusted EBIT of $14 billion to $16 billion and adjusted earnings of $12 to $14 per share, citing improving EV economics, modest pricing gains, regulatory benefits, and continued efforts to offset tariff expenses.
"Customer demand in North America remains strong driven by our very attractive lineup of pickups and SUVs," CEO Mary Barra wrote in a letter to shareholders. She added that the company's North American adjusted EBIT margin climbed to 8.6%, while GM continued to "lower our warranty costs, reduce EV losses, and increase operating efficiency."
The stronger earnings came even as U.S. deliveries slipped 4.2% to about 715,000 vehicles during the quarter. GM attributed much of the decline to discontinued models, including the Cadillac XT4, XT6, and Chevrolet Malibu, along with a steep drop in electric vehicle demand after the federal EV tax credit expired and pulled purchases into late 2025.
The company said it has recorded roughly $4.5 billion in EV-related charges so far this year, with the total impact rising to $7.2 billion when non-cash items are included. Sales of the Chevrolet Equinox EV, Blazer EV, and GMC Hummer EV all fell sharply, although GM retained the No. 2 position in the U.S. EV market behind Tesla.
Demand for GM's profitable truck and SUV lineup helped cushion the slowdown. The GMC Sierra posted a record second quarter, while the Chevrolet Traverse and Trailblazer also delivered strong sales gains. GM said it accomplished this while keeping incentives below the industry average and pushing average transaction prices above $52,400, though executives acknowledged affordability remains a headwind as elevated prices and interest rates continue to weigh on consumers.
Tyler Durden Tue, 07/21/2026 - 08:20Israel believes Iran moved nuclear material inside notorious ‘Pickaxe Mountain’ site last year: report
‘Dangerous’ woman who uses multiple aliases on the run after a missing father found zip-tied in shallow grave: cops
Iran executes two young men for offering help to fleeing anti-regime protesters
Whoopi Goldberg brings pregnant Anne Hathaway to tears with emotional statement on ‘The View’
Whoopi Goldberg brings pregnant Anne Hathaway to tears with emotional statement on ‘The View’
Domino's US Sale Growth Hits Five-Quarter Low As Budget Diners Pull Back
Domino's Pizza posted its softest US comparable-sales growth in five quarters as inflation and the national average price for regular gasoline above $4 a gallon pressured working-poor consumers.
Second-quarter same-store sales rose a measly .1%, in line with estimates but trailing the growth expected across much of the quick-service restaurant industry (QSR).
Snapshot of 2Q earnings results (courtesy of Bloomberg):
Total domestic stores comp sales growth +0.1%, estimate +0.11% (Bloomberg Consensus)
- Domestic franchise comparable sales growth 0%, estimate +0.07%
- Domestic co-owned comparable sales growth +2.1%, estimate +0.55%
Revenue $1.19 billion, +4.3% y/y, estimate $1.18 billion
International comparable sales -0.1%, estimate +0.62%
EPS $4.07 vs. $3.81 y/y, estimate $4.18
Net addition of stores 209, +16% q/q, estimate 199
Income from operations $232 million, +3.1% y/y, estimate $225.5 million
Domino's shares were unchanged premarket trading. Although US same-store sales were roughly flat, the figures "were better than we and investors feared," TD Cowen analyst Andrew Charles wrote in a note.
Will the stock be able to stage another 2023-style bounce of the $300 level?
Citi analyst Sam Teeger noted:
DPZ noted that category growth in pizza is being driven by the dine-in channel as some pizza consumers are returning to pre-Covid habits of wanting a dine-in experience. Independent QSR pizza restaurants have been the biggest beneficiary of this shift. We are careful not to read too much into this as these comments were more focused on the US market.
Here is the Rothschild & Co analyst Edward Lewis' take on 2Q earnings:
Domino's Pizza reported second-quarter results that were in line on comparable sales but a miss on earnings. Revenue of $1,194m was marginally ahead of the $1,181m consensus had expected, while EPS of $4.07 fell short of consensus expectations of $4.16. Domestic same-store sales rose 0.1%, in line with flat consensus forecasts, but international same-store sales fell 0.1% consensus at +0.7%. Net store additions were mixed: domestic openings of 26 came in consensus at 35, while international additions of 183 beat consensus forecasts 158.
The top-line beat was entirely down to Supply Chain – the products Domino's sells to its franchisees – which was ahead by $17m against a total revenue beat of $14m. The Supply Chain outperformance reflects a combination of pricing and higher order growth, evidence that the value deals are working but at a cost, which is the source of the earnings miss.
The key challenge for Domino's is that it has delivered broadly flat comparable sales in the US in the first half – domestic same-store sales of 0.4% in 1Q26 (versus - 0.5% in 1Q25) and 0.1% in 2Q26 (versus 3.4% in 2Q25) – but now faces much tougher comparatives of 5.2% and 3.7% in the third and fourth quarters as it laps last year's menu innovation (stuffed crust) and the DoorDash launch.
In its prepared remarks, management emphasised order growth, which it sees as the lifeblood of the business: consumers coming into stores or through the aggregator channel can be signed up to the loyalty programme, giving franchisees the volume to leverage into profit. However, the long-term guidance still calls for 3% same-store sales growth, and we find it tough to see a path to that in the near term. There were no major announcements in the release on menu innovation or an updated outlook, and no revision to the long-term growth plans.
The shares look cheap on a P/E basis, but with no change to the long-term algorithm we see little fundamental support for a re-rating and retain our Sell rating.
Lewis summarizes the earnings call with management:
The quarter: management was at pains to flag that order count was in line with expectations; the miss was on ticket growth, as the Premium Series with Slice Sauce did not resonate as management had expected. Management returned repeatedly to the strength of order growth in a flat QSR industry as evidence of the health of Domino's core business.
Updated outlook: low-single-digit same-store sales guidance for both Domestic and International was reiterated, though International now includes any World Cup benefit (the tournament began after 2Q ended). FY26 domestic unit growth has been capped at 175, versus a prior 175-plus, as macro pressures and the weak 2Q ticket weighed on franchisee profitability. This may have ramifications for FY27 unit growth in our view. On comps, management is confident in the order-growth trajectory and expects to do a better job on ticket in the second half than in 2Q, implying sequential improvement on the 0.5% delivered in 1H26.
Strategic update: the outgoing CEO remained as positive as ever on the pizza category. He flagged a new product coming in 3Q – as yet undisclosed – that he expects to be incremental to the category, playing into an occasion where pizza does not typically do well (it sounds like an afternoon opportunity). He expects industry competition to stay elevated and has leant further into value, adding premium stuffed crust to the Best Deal Ever this quarter
Domino's maintained its forecast for low-single-digit US same-store sales growth in 2026 but trimmed planned domestic store openings to 175. As one of the first QSR chains to report quarterly results, Domino's provides an early proxy for consumer sentiment and a read-through on how restaurant operators are holding up amid elevated gasoline and diesel prices.
Tyler Durden Tue, 07/21/2026 - 08:05Kazakhstan Stops Piping Oil To Black Sea After Spate Of Ukraine Drone Tanker Strikes
Update(0803ET): This development certainly isn't going to help global oil prices stay down... Following a drone attack out of Ukraine days ago on the Caspian Pipeline Consortium (CPC) terminal along the Black Sea Coast, Kazakhstan has newly confirmed a halt crude transfers there.
"Kazakhstan is set to stop piping crude to a port on Russia’s Black Sea coast after a spate of attacks on tankers that's jeopardizing the landlocked Asian country’s ability to produce oil," Bloomberg reports Tuesday morning.
"The CPC Terminal at the Russian port of Novorossiysk will stop accepting piped supplies because tanker companies are too nervous to send their ships to the facility, two people with knowledge of the matter said," the report continues, describing a developing situation that parallels the ongoing situation of nervous tanker crews who have remained stopped in the Strait of Hormuz, also for fear of being attacked. "The halt is due to begin later on Tuesday," Bloomberg adds.
Additionally, CPC clarified in a statement that "Oil loading operations were suspended. No oil spill occurred and no ignition of oil in the cargo tanks was allowed." The pipeline terminates near the Russian port of Novorossiysk, and while mainly carrying Kazakh supply, it also transports some Russian crude. The Kremlin charged that these recent attacks are part of Ukraine's "ambition to further destabilize the situation on global oil markets".
That would be about 1.6 mm bopd out of 2.1 mm bopd total Kazakh exports. #OOTT https://t.co/k4Bfr0a639
— Z4 Energy Research (@ZmansEnrgyBrain) July 21, 2026At least one of the tankers recently hit (described below) erupted in an onboard fire after it was struck on the starboard side. Reuters has detailed in the aftermath of a rescue effort that "The international crew of 22 was evacuated using CPC tugboats, with the exception of the captain and chief officer. The tanker remained afloat." Flows had initially resumed after a wave of Sunday attacks on the CPC terminal, but were halted again after strike on tanker Nelsa.
Analysts have been pointing out that as a result of Ukraine's broader drone war on Russian energy sites, Russia's oil refining output has fallen to its lowest level in more than two decades.
* * *
The Kremlin has accused Ukraine of orchestrating a plan to further destabilize global oil markets by carrying out drone attacks on the Caspian Pipeline Consortium (CPC).
Russian Foreign Ministry Spokeswoman Maria Zakharova said in Monday remarks, "We are in solidarity with the Kazakh Foreign Ministry in its decisive condemnation of this crime against a civilian facility."
via Caspian News"We regard this attack as yet another confirmation of Bankova's desire to further destabilize the situation on global oil markets," the top diplomat emphasized, referencing the street houses the Office of the President of Ukraine.
"For it, ensuring global energy stability, as well as a respectful attitude toward foreign partners, in particular from Kazakhstan, with whom the Kiev regime allegedly wants to develop mutually beneficial and friendly relations, is an empty phrase," she added.
The Caspian Pipeline Consortium (CPC) terminal, which is off Russia's Black Sea cost, confirmed Sunday that it was forced to suspend oil loadings, after a pair of oil tankers came under attack here.
Specifically the Asia and Nissos IOS tankers were attacked, with the former having caught on fire as a result, which was subsequently extinguished by emergency crews.
"There were no injuries or fatalities amongst CPC staff or contractors. There was no oil spill," CPC later clarified while confirming that the tankers remained afloat.
"At present, crude oil loading operations at the terminal have been suspended pending a full assessment of the consequences of the incident," CPC also said, but stopped short of identifying what entity was behind the attack.
Kazakhstan's foreign ministry was outraged. "Upon completion of this assessment, Kazakhstan reserves all rights available under international law to protect its legitimate interests, including seeking full compensation for the damage caused," it said.
This isn't the first time that sections of the key energy route have been targeted by Ukrainian drones. For example a key section of Caspian Pipeline Consortium near Novorossiysk was temporarily been taken offline in a November 2025 attack.
It is surprising that the attacks on Caspian Pipeline Consortium are continuing, and another red line has been crossed, because for the first time in history of naval combat, tankers were attacked at loading point
— Olzhas Baidildinov, ex-advisor to Energy Minister of Kazakhstan pic.twitter.com/K7OP3oSx7K
The consortium's over 930-mile pipeline connects oil fields in western Kazakhstan and Russian offshore fields in the Caspian Sea to a marine terminal in Novorossiysk, which means the location serves as the main export route for Kazakh oil, and is one of the world’s largest oil conduits by volume.
Tyler Durden Tue, 07/21/2026 - 08:03