Chevron Legal Win; Netflix Lower after Beat; Talen Energy Pops

On this episode of Stock Movers:
- Hess (HES) and Chevron (CVX) are both higher as Hess Corp. won its arbitration battle with Exxon Mobil Corp., clearing the way for it to be bought by Chevron Corp. The decision is a major victory for Chevron, according to the text, ending a period of strategic limbo that hurt its stock. Exxon Mobil Corp. said it "disagree[s] with the ICC panel's interpretation but respect[s] the arbitration and dispute resolution process", according to a company statement.
- Netflix (NFLX) is lower despite its earnings beat. The streaming-video company reported second-quarter results that beat expectations and raised its full-year forecast. The stock has been a strong performer this year, up nearly 50% off an April low. JPMorgan wrote, While Netflix is executing well and boosted its forecast as expected, “the shares need a breather.”
- Talen Energy (TLN) is higher as it's buying Caithness Energy's Moxie Freedom Energy Center in Pennsylvania and Caithness and BlackRock's Guernsey Power Station in Ohio for $3.8 billion. Chief Executive Officer Mac McFarland said the plants are "the closest thing to adding another nuclear plant to our portfolio" and that buying them was the fastest and cheapest way to help meet AI needs through this decade.
- 3M (MMM) is higher after it raised its profit forecast to $7.75 to $8 a share this year, including the expected impact of tariffs. The company's adjusted second-quarter earnings were $2.16 a share, better than analysts' average estimate of $2.01. Under Chief Executive Officer William Brown, 3M has put measures in place to mitigate tariffs, including shifting production and pricing changes.

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