Basel Medical shares down 15% on $1B Bitcoin buying plans

Biotech stocks rose Tuesday. NextCure (NXTC) jumped over 200% on a definitive all-stock merger with Avere Therapeutics, expected to close in 2H 2026, with the combined firm trading as AVRX. Basel Medical (BMGL) gained 26% after regaining Nasdaq bid-price compliance. Outlook Therapeutics (OTLK) rose 11% ahead of an FDA decision on July 29, 2026. Other gainers included DYAI, NUWE, ATAI, and QNCX.

Alvopetro Energy Ltd reported Q2 results, citing higher output and stronger Brazil natural gas and condensate/oil prices. CEO Corey Ruttan said average sales rose 26% to 3,067 boe/d, realized gas neared US$11/MCF, revenue was just over US$19M, and funds flow from operations US$14.1M. Murucututu development continues, with first 2026 well ready to start production.

Baker Hughes said it won a 13-year lifecycle services deal with Nigeria LNG for turbomachinery at NLNG’s Train 7 expansion on Bonny Island. The scope covers heavy-duty gas turbines, centrifugal compressors, remote monitoring via Baker Hughes’ digital platform, and local support. Train 7 is expected to raise capacity from 22 to 30 MMtpa.

Baker Hughes said it won a contract from Azule Energy to supply subsea production systems for the Greater PAJ ultra-deepwater project offshore Angola. Scope includes horizontal subsea trees, control modules, workover control systems and related equipment plus installation and support. Greater PAJ is expected to start producing in 2029 via an FPSO processing up to 95,000 bpd, with deliveries starting in 2027.

Wendy’s (WEN) said it closed 28 restaurants and expects to close 5% to 6% of U.S. units (about 289 to 358) in 1H 2026, with possible additional selective closures. The company reported 2Q FY2026 systemwide sales down 6.5% YoY, U.S. systemwide down 8.2%, and U.S. same-restaurant sales down 7%. Wendy’s launched a turnaround plan and withdrew its 2026 outlook.

Albertsons Companies said it is voluntarily recalling four ready-to-eat products containing jalapeños supplied by Taylor Farms, including items sold at Randalls in Texas. The recall followed a supplier recall tied to an ongoing federal investigation and an FDA probe of a Salmonella Javiana outbreak. FDA reported 345 illnesses in 27 states, 36 hospitalizations, no deaths.