Toro Corp. sends dividend election notice to shareholders following December announcement

Volkswagen appointed Marco Schubert as North America chief, replacing Kjell Gruner. Schubert will join the Extended Executive Committee on Oct. 1. The move follows declining U.S. sales, down 13.6% in 2025 and 7.4% in H1 2026. Schubert has 25+ years of experience at Volkswagen Group, including roles at Audi, Skoda, and Porsche.

Merck (MRK) stock has surged 84% in the past year, outperforming peers, despite its revenue growth and profitability lagging. The market is betting on its pipeline, valued at over $70B, to offset Keytruda's patent expiration. LIPFENDRA's launch and sales will be key indicators of Merck's ability to deliver on its future prospects.

Walmart and Inspire Brands (Dunkin's parent) announced a deal to offer Dunkin' items for delivery alongside Walmart orders. The service will initially launch at 150 Dunkin' locations inside Walmart stores, expanding to most of Dunkin's 10,000 U.S. locations. Walmart's delivery network, which grew 48% last quarter, will facilitate the service. According to Walmart, 90% of the U.S. population lives within 10 miles of a Walmart store.

Shore Capital reiterated a 'sell' rating on HSBC (HSBA, HSBC), citing a high valuation and a 1,335p target price, implying 13% downside. HSBC management reported strong trading across most businesses, healthy wealth client acquisition, and growing fee income. However, Shore Capital warned of potential future profitability challenges and an optimal but unsustainable interest rate environment.

HPE has expanded a multi-year networking deal with Oracle, deploying HPE Juniper infrastructure in Oracle's AI data centers. HPE CEO Antonio Neri highlighted the deal's scale and the use of HPE's QFX and PTX platforms, including proprietary Express 5 silicon. HPE expects this to drive further AI networking deals.

ExxonMobil awarded early contracts for the Rovuma LNG project in Mozambique, with McDermott leading EPC work. The project could add $11B annually to Mozambique's GDP. McDermott is also part of the EPC team for TotalEnergies' Mozambique LNG project. Cheniere Energy Partners awarded Bechtel a $4.69B contract for the Sabine Pass LNG expansion.