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

0823 ET - BJ's Wholesale Club posts stronger-than-expected sales and solid comps in 2Q, JPMorgan analysts say in a research note. The largely positive report gave the warehouse club chain confidence to raise its adjusted earnings outlook for the year, especially as gasoline sales outperformed expectations. JPM estimates that gas sales provided 20-cents-a-share worth of upside to the recent quarter, offset by a roughly 4-cents-a-share of selling, general and administrative reinvestment. The analysts note BJ's often reinvests in SG&A when gas profits come in better than expected, driving membership retention and making the lap next year easier. Shares gain 2.5% premarket. (connor.hart@wsj.com)

0818 ET - BJ's Wholesale Club reports largely better-than-expected second-quarter results against a consumer backdrop with plenty of volatility, William Blair analysts say in a research note. Comparable sales growth, excluding fuel, of 3.1% topped Wall Street estimates and came as a relief to investors, who are looking for signs that healthy trends can continue through the remainder of the year. "We expect investors will focus on third-quarter-to-date trends on rising concerns of a consumer pullback and the go-forward outlook for merchandise margins as competitors continue to lean into promotions and price cuts," the analysts write. BJ's shares tick up 3% premarket. (connor.hart@wsj.com)

0754 ET - European sporting goods market conditions are unlikely to improve materially over the next two quarters, J.P. Morgan analysts write in a note. The second quarter has been tough, with limited guidance upgrades and a few downgrades across the industry, they note. "Growth is slowing as brands prioritize full-price direct-to-consumer sales in a highly promotional market," they say. Additionally, talks with investors clearly suggest concerns about a structural slowdown in sector profit growth. However, it is too early to assume that there is a structural slowdown in footwear demand, they add. JD Sports shares are up 6%. ( najat.kantouar@wsj.com)

0739 ET - European stocks will underperform because of the uncertain path to artificial-intelligence monetization, Bank of America analysts write. Increased competition from both China and within the U.S. will force AI model makers to offer more competitive price, potentially dragging on sky-high profit expectations, the analysts say. The higher cost of borrowing will also weigh on companies' bottom line, they say. European stocks are priced for a continued boom in spending on AI, but a reversal in AI momentum would undermine that optimism. The analysts expect the Stoxx 600 to fall 10% to 580 by the second quarter of 2027. The index rises 0.3% Friday after falling for seven straight days. (josephmichael.stonor@wsj.com)

0558 ET - Arkema delivered a robust second-quarter performance but concerns remain, Bernstein analysts James Hooper and Sebastien Afoy write in a note. The French adhesive manufacturing company continues to show improved cost discipline and higher-margin products are contributing more positively, they say. However, full-year guidance appears cautious and the company still faces prolonged slowdown in residential-construction markets in its key end market Europe and the U.S., they add. "With upwards pressure on interest rates, we are not expecting this to turn soon," they say. Shares are up 1.6% at 60.05 euros. ( najat.kantouar@wsj.com)

0540 ET - U.S. stocks linked to cryptocurrencies continue to rise premarket, spurred higher by a surge in bitcoin and ethereum. Investors are increasingly confident in the regulatory outlook for crypto in the U.S., even if the crypto-friendly Clarity Act doesn't pass, Bernstein analyst Gautam Chhugani writes. "The industry expects accelerated rule making for supporting native crypto tokens, tokenized equities, perpetual futures" and other crypto-related activities, Chhugani says. Bitcoin trades up 6.6% at $77,794.84, while ethereum adds 2.7% at $2,389.07. Bitcoin-hoarder Strategy jumps 9.3% premarket, on pace to rise by over 30% since market close Tuesday. Crypto exchanges also gain, with Coinbase and Hyperliquid Strategies rising 6.2% and 3.2%, respectively. Robinhood Markets adds 5.1%.(josephmichael.stonor@wsj.com)

0529 ET - Experian's North American consumer market shows some underlying growth concern, Bernstein analysts Will Kirkness and Filippo Giardini write in a note. The credit-reporting agency's North American Membership and Marketplace growth now stands at only about 2%, they note. Additionally, risks related to revenue contribution from new and scaling products remain, they say. "We forecast 5.2% and 4.8% organic growth in fiscal 2028 and fiscal 2029--2-3ppts below expectations," they add. Shares are down 2.4% at 28.95 pounds.(najat.kantouar@wsj.com)

0454 ET - Solvay could benefit from its ability to separate rare earth elements, Bernstein analysts James Hooper and Sebastien Afoy write in a note. While the Belgian-French chemical company's soda ash business has limited growth prospects and seaborne soda ash shows no sign of recovery, the company could potentially profit from rare earths. "The U.S.-China robotics fracture again highlights the importance of rare earths to technology, and Solvay's status as one of the only companies outside China able to separate rare earth elements is a structural advantage that could matter more with an accelerating industry consolidation," they say. Shares are up 0.3% at 25.34 euros. (najat.kantouar@wsj.com)

0437 ET - Alibaba Group is likely to benefit from its artificial-intelligence cloud business, according to Daiwa analyst John Choi in a research note. Losses at its AI labs and applications as well as all other segments will peak this quarter, the analyst says. Daiwa estimates AI labs and apps will see losses decline sequentially thanks to better model training efficiency, improved inference efficiency and lower marketing intensity, he says. Daiwa keeps a buy rating and raises the target price for Alibaba's ADRs to $185.00 from $180.00. The ADRs last closed at $130.53. (tracy.qu@wsj.com)

0436 ET - High execution risk is the main concern for Banca Monte dei Paschi di Siena's all-share bids to buy rivals Banco BPM and Banca Generali, Equita Sim's Andrea Lisi says. Monte dei Paschi would have to simultaneously manage the integration of Mediobanca, the combination with Banco BPM and the acquisition of Banca Generali, which is more complex than Intesa Sanpaolo's rival takeover offer. "Indeed, the latter is underpinned by a strong industrial rationale and carries a more limited execution risk, also thanks to [Intesa] management's consolidated track record in both integrations and synergy delivery," Equita says. The twin takeovers would also require Monte dei Paschi shareholders to forgo the current share price premium from the Intesa offer, Equita adds. Shares are up 0.8% at 11.82 euros. (michael.hennessey@wsj.com)

0415 ET - SATS Ltd.'s postresults stock selloff appears overdone, says DBS Group Research's Jason Sum in a note. The air-cargo handler's shares fell 14% Thursday after its fiscal 1Q results. While its margins face headwinds in the near term from factors such as food inflation, the analyst says such pressures are likely temporary. Airlines should progressively add flights on still-robust underlying travel demand as the Middle East situation stabilizes, which should benefit SATS, the analyst says. DBS raises its FY 2027-FY 2028 earnings-per-share forecasts by 2.7%-3.3% on likely stronger top-line growth. The bank lifts its target price to 5.00 Singapore dollars from S$4.40 and maintains a buy rating. Shares fall 1.5% to S$4.06. (megan.cheah@wsj.com)

0356 ET - BRC Asia's solid net cash position, resilient operating cash flow and robust 1.69 billion Singapore dollar order book is likely to enhance its earnings visibility over the next few years, says UOB Kay Hian's Tang Kai Jie in a note. These should position the company to sustain its margin stability, the analyst says. The Singapore steel reinforcement solutions provider's nine-month earnings also signal its resilient business and market leadership, as it continues to benefit from the rising construction cycle in Singapore, he adds. UOB Kay Hian retains its buy rating and target price of S$5.30. Shares fall 0.2% to S$4.24.