Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
U.S. equity markets ended largely flat overnight as traders digested a mixed batch of corporate earnings results. Meanwhile, global crude prices continued to retreat after Iran and Oman agreed to establish a temporary, seven-mile-wide joint shipping corridor through the Strait of Hormuz, along with a joint initiative to clear the strategic waterway of naval mines. Further easing supply concerns, the CEO of TotalEnergies noted that crude is currently “flowing quietly” out of the Strait. Gold also faced light downward pressure, drifting lower ahead of the crucial U.S. Core PCE Price Index release scheduled for 14:30 today. Investors remain on edge ahead of the closing bell, with high-stakes, marquee tech earnings due after the market close—highlighted by heavyweights Nvidia, Salesforce, and CrowdStrike.
Dissapointed Earnings
U.S. markets saw three earnings reports from DKS, ZM, and INTU that investors reacted to negatively. All three stocks dropped significantly, led by Dick’s Sporting Goods (DKS), which plummeted 30.68% and closed at its session lows.
From left to right: Intuit Inc (INTU), Zoom Communications Inc (ZM) and Dick’s Sporting Goods Inc (DKS)
Local Stocks
On the domestic front, corporate news gained significant traction after Northam Platinum (NPH) announced that its CEO and management team received an unsolicited, exploratory, non-binding approach from a major South African PGM producer regarding a potential “asset-level” or “corporate” transaction. In response, Northam’s board initiated a strategic competitive process to consider proposals from credible third parties. Because main rivals Impala Platinum and Sibanye-Stillwater both publicly distanced themselves from the approach, the market strongly suspects the mysterious suitor is Valterra Platinum—leading traders to speculate on potential joint ventures or asset swaps between the two operators.
From left to right: Northam Platinum Holdings Ltd (NPH) and Valterra Platinum Ltd (VAL)
Discovery Ltd (DSY)
Discovery issued a trading statement forecasting headline earnings per share (HEPS) to surge by 31% to 36% for the year ended June 2026, comfortably beating consensus expectations. This strong performance far exceeds Discovery’s internal long-term growth target of 15%, driven by solid operational contributions across the board and Discovery Bank posting its first half-year profit. The stock has gained 3.73% since market open.
Sasol Ltd (SOL)
Sasol experienced a steep decline yesterday as oil prices continued their daily drift lower since Monday. The stock fell 6.40% during yesterday’s session and opened slightly lower again this morning. While geopolitical discussions surrounding the Strait of Hormuz remain fluid, similar market commentary has surfaced repeatedly without concrete outcome. We believe the R180 level presents a solid technical floor and view Sasol as well-positioned for a potential rebound.
Earnings, Economic Data and Ex-Dividends
Pre-Market Earnings
Kohl’s (KSS)
Kohl’s is a U.S. department store chain that sells apparel, footwear, accessories, beauty products, and home goods through physical retail locations and an online platform.
Abercrombi & Fitch (ANF)
Abercrombie & Fitch is a specialty apparel retailer that designs and sells casual clothing, activewear, and accessories across lifestyle brands including Hollister and Gilly Hicks.
After-Market Earnings
Nvidia (NVDA)
Nvidia is a technology company that designs high-performance graphics processing units (GPUs) and AI hardware and software architectures for data centers, gaming, automotive, and supercomputing applications.
Salesforce (CRM)
Salesforce is a cloud-based software company that provides enterprise customer relationship management (CRM) software, AI-driven automation, and business analytics tools for sales, service, and marketing teams.
Ex-Dividends
The following stocks go Ex-Div today:
| Stock | Price | Div | Ex-Div Price | % Change |
| GLN | R 131.00 | R 1.36 | R 129.64 | -1.04% |
| IVT | R 34.54 | R 1.25 | R 33.29 | -3.62% |
| LTE | R 8.12 | R 0.27 | R 7.85 | -3.33% |
| NED | R 304.12 | R 10.25 | R 293.87 | -3.37% |
| QLT | R 42.05 | R 0.46 | R 41.59 | -1.09% |
| RNI | R 435.77 | R 8.17 | R 427.60 | -1.87% |
Economic Data
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