The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

1158 ET--The post-earnings selloff of Cerebras Systems shares "largely misses the forest for the trees," Wedbush analyst Matt Bryson writes in a note. He sees the volatility as a result of high expectations going into the print, as well as the company reporting a sequential dip in hardware sales and leaving fourth-quarter expectations roughly unchanged. But these factors are secondary to Cerebras's broader story, Bryson writes. "Cerebras's success will be dictated by its ability to gain meaningful share over time (we believe it will) in the extremely large growing market for accelerators," he writes. "We believe Q2 earnings told us little about this journey, with next week's Supernova event a more likely positive catalyst for the stock." Cerebras falls 14%.

1158 ET - Drugmakers are delaying or forgoing the launch of new therapies in Switzerland due to a new U.S. policy, Swiss pharma-industry group Interpharma says. Switzerland is one of the countries the U.S. uses as a benchmark for its policy to lower drug prices and align them with those in other developed nations. Between January last year and June this year, Interpharma members declined to submit seven of a total of 22 new medicines for reimbursement by Swiss health insurers, Interpharma says, citing an internal survey. To avoid jeopardizing prices in the U.S., pharma companies held off on submitting one in three new medicines they developed, according to Interpharma. (adria.calatayud@wsj.com)

1150 ET--CAE's network optimization plan is progressing, and loss is minimal. National Bank of Canada analyst Cameron Doerksen notes in a report that the plan will see the removal of 10% of full flight simulators as well as the relocation of more than a dozen others, as well as the closing of 4-6 training centers. "Importantly, based on customer discussions so far, CAE expects to retain almost all customers impacted by training centre closures with revenue attrition at less than 1%," he says. At the same time, the flight simulator company also is making progress on divesting its noncore businesses, which represent a total of 8% of the company's revenue and "expects the proceeds from potential divestitures will more than fully fund the costs related to the transformation program." Shares are down 4.1% to C$37.02. (adriano.marchese@wsj.com)

1102 ET -- Lithium Americas' 2Q results show steady progress and disciplined execution on its flagship Thacker Pass project in Nevada. The company says detailed engineering design tops 95% and procurement exceeds 80%, and notes that mechanical completion remains on target for late 2027. The company is also pushing through cost headwinds, including an estimated $80 million to $100 million in potential tariff exposure and Middle East shipping reroutes, but still turned a small profit, and maintains its full-year capex guidance at $1.3 billion to $1.6 billion. Still, the company has $1.3 billion in reserve, as well as a new $175 million convertible debenture facility to fund its ongoing construction ramp. Shares in Toronto are up 6.6% at C$4.84. (adriano.marchese@wsj.com)

1022 ET--Chili's Big Crispy platform and margarita of the month are giving the Brinker International fast-casual chain a red hot edge over its competitors, said UBS analysts in a research note. The analysts said Chili's has shown a sizable increase in the number of chicken sandwiches sold following the Big Crispy debut with positive feedback on size, price and value relative to fast food. They projected an increase in same-store sales and positive traffic over the fiscal year with Chili's planned menu upgrades, including a revamped kids and dessert menu, and social media marketing.(grace.yoon@wsj.com)

0940 ET--CAE is planning to close four to six civil training centers as it looks to streamline operations and boost margins. The move is part of the flight simulator company's plan to achieve about C$125 million to C$150 million in structural savings by fiscal 2030. CEO Matthew Bromberg says on an investor call that right-sizing the physical footprint will "not only improve utilization rate of our network, it will also improve our civil margins." Some customers will be lost, however Bromberg says that the company expects to "retain almost all of our customer contracts as we transition them to other CAE facilities," capping expected customer attrition at less than 1% of civil revenue. (adriano.marchese@wsj.com)

0857 ET - Hapag-Lloyd's second-quarter results were broadly in line, but Deutsche Bank analysts say they remain cautious on the timing of the Red Sea reopening. The container shipping market has shown short-term strength recently, the analysts say in a note. However, the German shipping company's first half overall was weighed down by operational disruptions, particularly in the first quarter. The analysts add that a large order book for the sector could have an impact on freight rates. The Iran-backed Houthi militia in Yemen recently said it would blockade Saudi ships in the Red Sea, which would upend a route used to circumvent closures in the Strait of Hormuz. Shares in Hapag-Lloyd rose 1.87%. (aimee.look@wsj.com)

0747 ET - Yeti Holdings reports 2Q sales in line with Wall Street estimates but earnings that are well ahead of expectations even without the benefit of tariff refunds, according to William Blair in a research note. The company, known for its insulated drinkware, raises its full-year earnings outlook, while maintaining its full-year sales growth forecast of 7% to 8%. "We expect the Street to be disappointed by the top-line performance during the quarter and the lack of a raise to the guide, where we estimate the buy-side was looking for something closer to 8% to 9% sales growth for the full year to help boost the credibility of management's long-term target in the high-single- to low-double-digit range ahead of its investor day on September 17," analysts Phillip Blee and Olivia Witte say. Yeti is off 3% premarket. (connor.hart@wsj.com)

0731 ET - Standard Bank Group beat consensus profit expectations due to a continued strong credit performance despite slightly weaker revenue than expected, Citi analyst Simon Nellis says. The Johannesburg-based bank was also helped by contributions from corporate and investment banking, insurance and asset management and its joint venture with ICBC, Citi writes. The bank backed its full-year guidance and 2028 targets. However, a prolonged conflict in the Middle East would harm the outlook for most of its markets, Nellis says. Citi has a buy recommendation on the stock and a 325 South African rand target price. Shares are up 1.2% at 327.20 rand. (michael.hennessey@wsj.com)

0723 ET - Bitcoin rises marginally as U.S. stock futures climb after subdued U.S. inflation data Wednesday dampened expectations for an immediate interest rate rise by the Federal Reserve. "With both headline and core inflation cooling in July, the Fed can afford to take more time deciding whether tighter policy is warranted," XM analyst Raffi Boyadjian says in a note. However, the market reaction is somewhat muted as a rate increase in September cannot be ruled out given further data are due before the meeting and inflation remains too high, Boyadjian says. Moreover, inflation risks are still elevated without a deal on reopening the Strait of Hormuz, the analyst adds. Bitcoin rises 0.1% to $63,577, LSEG data show. (renae.dyer@wsj.com)

0704 ET - Chip maker CXMT dethroned tech giant Tencent as China's most valuable company, taking the crown after surging capital spending pushed Tencent's stock down 4.5% in Hong Kong. The Chinese memory maker's shares ended 1.2% lower in Shanghai. That put CXMT's market capitalization at the equivalent of roughly $524 billion versus about $510 billion for Tencent. Although Tencent more than doubled its capex in 2Q for compute procurement to support its AI model and agents, its management's response to expected returns on AI investments appeared vague to some analysts. Investors have also cooled on Tencent lately, leading shares to fall more than 20% this year. By contrast, CXMT has been an investor darling, with the chip maker widely seen as a proxy of China's push for chip self-sufficiency. (sherry.qin@wsj.com)

0648 ET - Admiral Group's performance is a sharp contrast to commercial and reinsurance stocks experiencing property and casualty cycle downturns, BofA Securities' analysts write. BofA increases its expectations for 2026, as first-half rate rises will earn through better than expected, while market pricing momentum is improving. The first half was Admiral's trough for earned pricing, the analysts add. Admiral's booked motor loss ratio for the first half improves visibility for the earnings recovery in 2027 and 2028, BofA notes. The figures support a return to 2027 topline growth, BofA says. BofA reiterates its buy recommendation for the U.K. insurer's stock and raises the price target to 42 pounds from 37 pounds. Shares are up 1.0% at 38.66 pounds.