CHS to operate COFCO grain terminal near St. Louis

A federal jury ruled that Eli Lilly & Co. breached the implied covenant of good faith and fair dealing with Nektar Therapeutics, awarding Nektar $90 million in damages. The jury rejected Nektar's claim that Lilly breached the license agreement's commercially reasonable efforts (CRE) obligation. Lilly plans to appeal, arguing no liability should have been imposed. The case highlights risks in biopharma licensing agreements.

Galp Energia and Equinor have been awarded an offshore oil block in Brazil's Santos Basin. Galp will own 30% of the Rodocrosita block, with Equinor operating the remaining 70%. The companies may explore synergies with the adjacent Bacalhau project, which is ramping up production and will contribute 40,000 barrels per day to Galp once fully operational.

Pinterest (PINS) appointed Amazon's James Dibbo as its new CFO. The company's stock has shown mixed performance, with a recent 7-day return of 7.52% but a 1-year return of -36.11%. Analysts have varying views on its valuation, with some seeing it as undervalued at $20.31 per share compared to a fair value estimate of $29.05, while others note its high P/E ratio of 46.2x.

Shanghai Allist Pharmaceuticals (SS:688578) shares dropped 20% after its U.S. partner ArriVent Biopharma (NASDAQ:AVBP) reported that a late-stage trial of lung cancer drug firmonertinib failed to meet its primary endpoint. The drug did not show a statistically significant improvement in progression-free survival for patients with non-small cell lung cancer.

Wells Fargo raised its 12-month price target for Meta Platforms (META) to $1,000 from $796, maintaining an 'Overweight' rating. The company reported a 28% revenue increase to $60.8 billion in Q2 2026, but faces risks from high capital expenditure and regulatory pressures.

Shell Canada has approved Phase 2 of its LNG Canada project, doubling production capacity to 28 mtpa. The expansion includes new LNG trains, storage tanks, and pipeline upgrades. JGC and Fluor will provide engineering and construction services. Shell aims to supply LNG to Asian markets, with operations starting in the early 2030s.