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

0919 ET - The second quarter was a strong stretch for Canadian companies, driven in large part by higher energy prices amid global political tensions and supply disruptions. Statistics Canada data show operating profit recorded by Canadian corporations hit about C$228.2 billion in 2Q, up 9.7% on the prior quarter and 15% above the same period last year. Non-financial corporations led the charge, driven by the oil and gas industry which notched a 68.3% jump in operating profit. Petroleum and coal manufacturers saw a 121% surge in profit to the highest since 1Q 2020, and pipeline transportation corporations saw a 30.6% increase. Profit growth across manufacturers was up 30.6% to C$28.2 billion, or a softer 3.7% excluding petroleum and coal. For financial industries, operating profit was up 5% to C$101.6 billion. (robb.stewart@wsj.com; @RobbMStewart)

0851 ET - Jersey Mike's has the potential to be more insulated from cyclical trends, Morgan Stanley analysts say. The sandwich chain's demographics skew toward older, wealthier and white consumers, which the analysts see as a favorable exposure that will generate consistent growth. By contrast, Wingstop, whose customer base is more diverse and lower income, has faced significant cyclical pressures. Jersey Mike's has a lot of room to grow and diversify its customer base, the analysts say, while driving steady growth thanks to its more mature stance in the quick-serve restaurant sector. (katherine.hamilton@wsj.com)

0838 ET - Campbell's is scheduled to report F4Q earnings next week, and Jefferies analysts expect ongoing macroeconomic pressure to weigh on the company's outlook for the year ahead. While Campbell's snacks category is showing signs of early improvement, overall segment trends remain under significant pressure, the analysts say in a research note. The company's meals and beverages division stands out as a clear bright spot right now, underpinned by broth strength, improving soup trends and continued support from its Rao's sauce line. But that strength may not be enough to carry the year ahead: "With F'27 inflation building and reinvestment needs evident, we expect another year of margin/earnings compression, while dividend sustainability questions linger, keeping us cautious," the analysts write. (connor.hart@wsj.com)

0811 ET - U.S. stock futures trade mostly lower as Canada walks away from trade talks with the U.S., allowing 50% tariffs on $20 billion worth of Canadian goods to take effect. Treasury yields slip, with the 10-year at 4.71%, with help from falling oil prices. Focus this week will be split between Nvidia earnings on Wednesday and Fed Chairman Kevin Warsh's speech at Jackson Hole on Friday. The Fed's preferred inflation gauge is also due out Wednesday along with the latest update on GDP growth. S&P futures fall 14 points. (patrick.sullivan@wsj.com)

0808 ET - Switzerland's tech companies need free trade deals with China and Mercosur as sector recovery remains fragile, an association for the Swiss technology industry says. "The foremost political priority remains securing free access to as many markets as possible." Swissmem calls on the country's Parliament to approve the pending agreement with the Mercosur states and also asks that the enhanced free trade agreement with China be ratified and implemented as quickly as possible. "Both are of very great strategic importance to the Swiss technology industry," Swissmem adds. (andrea.figueras@wsj.com)

0755 ET - Aurora Cannabis says that Curaleaf is making "inaccurate" and "outdated" claims about the business in an attempt to lowball shareholders. Aurora is pushing back against Curaleaf's characterization of its operations, calling its claims about cultivation metrics and German regulatory headwinds "not accurately or fully" reflective of the company's business model or financial results. Aurora says that Curaleaf's "self-serving portrayal" of the business is an attempt to acquire Aurora's EU-GMP manufacturing facilities and global medical cannabis footprint "at the lowest price possible." Instead, CEO Miguel Martin points to Aurora's 17% international revenue growth, and its expanding market presence across Poland, Germany and the U.K. (adriano.marchese@wsj.com)

0704 ET - The Swiss tech industry is experiencing a modest recovery, with an increase in sales and exports, but higher U.S. tariffs threaten to stifle the rebound, Swissmem says in a statement. Since the end of July, the U.S. has imposed a new tariff rate of 12.5% on goods from the Swiss tech industry, which is higher than the levies applied to products from the EU, the Swiss tech trade group says. "Should the tariff differential with the EU increase, the consequences would be severe," it says. "An agreement that does not put us at a disadvantage relative to our most important competitors remains essential," Chairman of Swissmem Martin Hirzel says. (andrea.figueras@wsj.com)

0659 ET - For Canadian wood products companies, exposure to the new U.S. tariffs should be minimal and manageable, says RBC's Matthew McKellar. In a report, the analyst says that the trade friction primarily hits niche value-added products like engineered wood, paperboard and corrugated boxes. For those, operational flexibilities and shifting where products are produced give Canadian producers a buffer against the worst drag on earnings. Meanwhile, major commodities such as lumber and oriented strand board are completely exempt from the new tariffs, McKellar notes. Still, he says that the tariff environment remains dynamic and there is "significant uncertainty around potential further action by either the U.S. or Canada." (adriano.marchese@wsj.com)

0654 ET - European stock indexes turn largely positive as the continent's tech stocks pare losses from earlier in the session. Industrial and chemicals stocks rally, as the Europe-wide Stoxx 600 nudges up 0.1% after opening in the red. London's FTSE 100 rises 0.3%, boosted by precious metal miners--Anglo American gains 1.8%--while travel and leisure stocks in the index gain. British Airways-owner IAG rises 1.9%. Germany's DAX and France's CAC 40 are flat. Italy's FTSE MIB gains 0.2%, while Spain's IBEX 35 adds 0.45%. The semiconductor-heavy AEX is unmoved as ASML trades flat after earlier falling 1%. (josephmichael.stonor@wsj.com)

0622 ET - Corn contracts rise to their highest levels since July 2023 amid concern around pressures in the Black Sea and lower-than-expected U.S. yields. "U.S. corn estimates pointed to lower corn yields, while continued attacks in the Black Sea disrupted exports," Rabobank analysts write. U.S. agricultural group Pro Farmer estimated Friday the 2026 U.S. corn crop will come in at 15.344 billion bushels amid inconsistent field performance, with yields at their lowest level since 2020. Meanwhile, Ukrainian President Volodymyr Zelensky said Russia refused a truce that would halt attacks against ships carrying grains through the Black Sea. Front-month corn contracts jump 2.65% to $5.22 a bushel, up around 26% from the contract's June lows. (josephmichael.stonor@wsj.com)

0605 ET - SoftBank Group and Alibaba shares are falling as investors balk at their plans to raise more cash to fund AI expansion, Swissquote's Ipek Ozkardeskaya says. Alibaba said it would raise $10.2 billion via a new share placement, while SoftBank plans to issue a record volume of retail bonds. The tech companies "are being punished today for seeking more financing," Ozkardeskaya says. The response from investors suggests that wider market sentiment around AI is fragile, the analyst adds. Alibaba's U.S.-listed depositary receipts fall 3.2% premarket, while SoftBank Group shares closed 5.3% lower in Tokyo. (josephmichael.stonor@wsj.com)

0600 ET - Morgan Stanley raised its Brent crude forecast for the fourth quarter, saying it sees prices peaking at $100 a barrel as a slower Middle East supply recovery leaves the oil market in deficit through the first quarter of next year. "Crude is tightening. Recent weeks have seen one of the sharpest declines in oil-on-water, whilst onshore inventories are declining as well, including in China," analysts at the bank say. Morgan Stanley now expects the recovery in Middle East supply to extend well into 2027. Meanwhile, releases from the U.S. Strategic Petroleum Reserve are slowing and could end after September, while Chinese crude buying has stabilized and could strengthen, according to the bank.