The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

2038 ET - For Jarden, Amplitude Energy's FY 2027 guidance was the main focus of its annual result. Amplitude signaled output of 26.6-28.5 petajoules equivalent, in line with consensus hopes at the midpoint. It reflects strong operational performance at the Orbost facility. FY 2027 capex guidance of A$250 million-A$310 million beat Jarden's estimates. Analyst Nik Burns says this is largely a timing issue. "But we estimate East Coast Supply Project total costs are now at or above the top end of the prior range," Jarden says. The next key catalyst will likely be the Juliet exploration well result, Jarden says. That well is about to be drilled. "We carry no value for this well in our valuation but could potentially add A$0.34/share upside in the success case," Jarden says. (david.winning@wsj.com; @dwinningWSJ)

2034 ET - Cochlear's expectation of FY 2027 profit growth appears to be driven by operating costs rather than sales, Jarden analysts observe. They tell clients in a note that the hearing-implant maker's guidance for 5.5% net profit growth at the range midpoint comes despite its expectation that sales revenue will only grow by a percentage in the low single digits. They tell clients in a note that the profit guidance, which is in line with analysts' expectations, is supported by a slight on-year decline in operating costs. They think that the quality of the FY 2026 result was worse than anticipated, but see the FY 2027 outlook as positive. Jarden has a last-published neutral rating on the stock and a target price of 169.00 Australian dollars. Shares are up 5.0% at A$137.80. (stuart.condie@wsj.com)

2033 ET - Mall owner Region's debt strategy pleases Jarden and helps to balance a small miss to FY27 earnings guidance. "We like the fact that Region is highly hedged at favorable hedge rates, particularly at a time when most REITs are facing debt cost headwinds/gearing ticking up," analyst Carl Braganza says. Region is 83% hedged in FY27, and 66% hedged in FY28. Jarden retains a neutral call on Region, noting business fundamentals remain sound, with leasing spreads of 4% and portfolio moving annual turnover growth of 3.3%. Region forecasts funds from operations of 16.5 Australian cents/security in FY27, below consensus hopes for 16.6 cents. The stock is down 2.8% at A$2.295.(david.winning@wsj.com; @dwinningWSJ)

2024 ET - The composition of Cochlear's annual revenue should please investors, RBC analyst Craig Wong-Pan says. While the hearing-implant maker's FY 2026 revenue was broadly in line with consensus, Wong-Pan points out that the Australian company's implants and services units both performed more strongly than analysts had expected. This strength was partially offset by a miss from acoustics, he writes in a note. Overall, Wong-Pan expects the result to generate positive sentiment, with underlying earnings about 3% stronger than his above-consensus forecast. RBC has a last-published sector perform rating on the stock and a target price of 117.00 Australian dollars. Shares are up 2.1% at A$133.98. (stuart.condie@wsj.com)

2015 ET - The Nikkei Stock Average fell 0.7% to 68732.71, tracking Wall Street's losses overnight. Investors appear to be fretting over the Middle East conflict and the apparent impasse in U.S.-Iran talks to end their conflict. "Iranian officials have been promising escalation if diplomacy fails," InTouch Capital Markets' analysts' team says in commentary, citing a media report. Among the worst performers on Japan's benchmark index, Screen Holdings drops 2.9%, Lasertec falls 2.8%, and Nippon Building Fund sheds 2.4%. The dollar is at 159.38 yen, compared with Y159.45 late Monday in New York. (ronnie.harui@wsj.com)

2009 ET - BHP's FY 2026 dividend beat and in-line FY 2027 guidance should be reasonably well received by the market, says RBC Capital Markets analyst James Redfern. BHP's annual payout of US$1.72 a share is its highest in four years and above Visible Alpha consensus of US$1.54 a share. "Along with the dividend, a key focus is new FY27 guidance for unit costs and capex," says Redfern. While forecast unit costs at Western Australia Iron Ore are 2% higher than consensus, projected costs at Escondida are 4% below consensus, he says. RBC has a sector perform rating and A$57.00 target on BHP shares. The stock is up 2.9% early in Sydney at A$63.97. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

1949 ET - Australian stocks look set to fall after President Trump's threat to bomb Oman sent oil prices higher. Local stock futures are down by 0.4% ahead of Tuesday's session, suggesting that the S&P/ASX 200 could be on course for a fifth straight decline. The benchmark index is coming off a 0.5% fall. Ahead of the open, BHP reported a 9% increase in annual net profit and an even bigger gain in underlying earnings. Hearing-implant maker Cochlear slashed its dividend on an 18% fall in annual profit. CSL swung to a deep annual loss on asset writedowns, and Reliance Worldwide said it had agreed to a takeover offer by the private equity arm of Brookfield Asset Management. (stuart.condie@wsj.com)

1940 ET - As TSMC expands its global manufacturing footprint to secure future AI chip supply chains, its overseas hubs are emerging as new profit drivers, according to the company's latest filings. TSMC Arizona, once viewed as a costly overseas venture with uncertain returns, generated 36 billion New Taiwan dollars in net profit during 1H of 2026, more than doubling its full-year 2025 net profit. Its joint venture in Japan swung from a NT$9.77 billion full-year loss in 2025 to a NT$1.68 billion net profit in the first half. TSMC Nanjing also remained steadily profitable. The results suggest that TSMC can replicate its industry-leading profitability beyond Taiwan, analysts say. (jie.yang@wsj.com)

1931 ET [Dow Jones]--Australian pharmaceutical company CSL's share price looks a good bet to outperform today, RBC Capital Markets says. CSL's FY26 underlying earnings and revenue beat expectations. "We think the market will particularly like the immunoglobulin performance with FY26 revenue growth of 4% year-over-year and 2H26 growth of 14% on-year," analyst Craig Wong-Pan says. CSL expects FY27 revenue to match the FY26 outcome. It also expects underlying profit growth of 5% when currency swings are stripped out. This implies an underlying net profit of US$2.93 billion, above consensus hopes of US$2.83 billion. "The stock has had a strong run into this result, however we expect the FY27 guidance beat to consensus and strong immunoglobulin performance in 2H26 to drive outperformance in the stock today," RBC says. (david.winning@wsj.com; @dwinningWSJ)

1936 ET - Japanese stocks may fall, tracking Wall Street's losses overnight. Investors appear to be fretting over the Middle East conflict and the apparent impasse in U.S.-Iran talks to end their conflict and reopen the Strait of Hormuz. Nikkei futures are 210 points lower at 69040 on the SGX. The dollar is at 159.33 yen, compared with Y159.45 late Monday in New York. The Nikkei Stock Average closed 0.7% higher at 69220.25 on Monday. (ronnie.harui@wsj.com)

1836 ET - Walmart's membership program, a key component of its digital flywheel, looks poised for growth ahead, Morgan Stanley analysts say in a note. The analysts expect the program to scale to about 55 million members by 2035, more than doubling from roughly 21 million members this year. That should expand Walmart's commerce, marketplace and advertising opportunity, given Walmart+ members spend about four times more and make roughly seven times as many e-commerce visits as non-members, creating more purchase occasions, richer first-party data and an opportunity to capture share of consumers' wallets, the analysts say. Additionally, higher engagement improves fulfillment density, personalization, marketplace conversion, and advertising monetization, they say. "The result is a reinforcing loop: a stronger membership proposition drives frequency, greater frequency improves economics and relevance, and those benefits fund further investment in price, convenience, and the bundle," they say. (kelly.cloonan@wsj.com)

Consumers look poised to hit the stores as they prepare for a return to the classroom, setting up for a strong back-to-school shopping period, Morgan Stanley analysts say in a note. Consumer demand for goods remains resilient, with July retail sales data pointing to solid growth above levels seen in 2022 through 2024, the analysts say, though they expect growth will moderate from last year. Additionally, higher prices likely mean nominal spend will increase year over year across income cohorts, but high-income consumers will likely continue to lead the strength, the analysts say.