- Soros Fund Management filed its Q2 13F filing detailing major portfolio adjustments across several key holdings.
- The firm initiated a new stake of 768K shares in American Electric Power valued at 105.1M dollars while completely exiting Salesforce.
- Additionally, the fund increased its stake in Entergy and reduced its holdings in Amazon.
- Stock markets remained muted at midday due to ongoing Middle East uncertainty and oil supply concerns, with U.S. West Texas Intermediate crude rising 3.8%.
- Individual stock movements included Vistra Corp trading heavily in call options following its second-quarter earnings, and MP Materials surging 7.5% after reporting narrower-than-expected losses.
- Coherent shares declined 10.6% amid news regarding a potential U.S. import ban on certain Chinese data center components.
- Wolfe Research analyst Steve Fleishman maintained a buy rating on Vistra with a target price of 232.00 dollars.
- The rating is driven by strong second-quarter earnings exceeding expectations, robust long-term ERCOT demand, and positive data center transactions.
- Additionally, BMO Capital reaffirmed a buy rating with a 231.00 dollar target price.
- Vistra Corp. reported second-quarter revenue of $4.02 billion and earnings of 91 cents per share, missing Wall Street estimates while posting a 31% year-over-year increase in adjusted EBITDA to $1.77 billion.
- The company reaffirmed its 2026 ongoing operations adjusted EBITDA guidance of $6.8 billion to $7.6 billion and reported strong liquidity with approximately $6.3 billion available.
- CEO Jim Burke stated that power demand growth will extend beyond AI data centers, driven by industrial reshoring, electrification, and broader economic expansion.