BlackRock (NYSE:BLK), the largest asset manager globally, reported its Q2 earnings results on Friday, with EPS of $9.28 coming in better than the Street estimate of $8.43. Revenue was $4.46 billion, slightly lower than the Street estimate of $4.48 billion.
However, the company experienced a deceleration in money inflows, leading to a decline of nearly 2% in its shares on Friday. During the quarter, net inflows totaled $80 billion, which is lower compared to $89.6 billion from the previous year and $110 billion in the first quarter.

Needham analysts increased Coinbase Global (NASDAQ:COIN) price target to $120.00 from $70.00 while keeping their Buy rating unchanged. This adjustment follows a summary judgment related to the Ripple case.
According to the analysts, the recent court ruling in the Ripple case with the SEC provides several key takeaways. Firstly, the court granted the SEC’s motion, stating that institutional sales (initial XRP token sales) violated securities laws. However, the court denied the SEC’s motion regarding programmatic sales (secondary XRP sales on crypto exchanges), as they did not constitute an investment contract. The court also denied the SEC’s motion regarding other non-cash distributions, ruling that these distributions did not qualify as an investment contract since there was no exchange of money involved.
This judgment is seen as a positive development for Coinbase as it sets a precedent indicating that crypto token sales through exchanges, at least in the case of XRP, did not violate securities laws. The analysts believe that this outcome should moderately reduce the regulatory pressure on the stock, thereby decreasing associated risks.

Argus analysts raised their rating of General Mills (NYSE:GIS) from Hold to Buy, setting a price target of $90.00.
General Mills holds a prominent position within the packaged food industry and possesses a wide range of established brands. The company is capitalizing on its major brands through promotional activities and the introduction of new products. Additionally, General Mills is expanding its business through strategic acquisitions, such as the recent purchase of TNT Crust, a manufacturer specializing in frozen pizza crusts.
The company’s management is actively focused on cost control and margin enhancement, implementing a comprehensive margin management program. The analysts highlighted the management’s initiatives to develop a unique portfolio of brands catering to health-conscious consumers and increase revenue from innovative products. General Mills maintains a robust balance sheet, and management has demonstrated confidence in the company’s future prospects by announcing a substantial 9% increase in the dividend, resulting in a current yield of approximately 3.1%.
Overall, the analysts believe that General Mills is well-positioned to leverage its brand strength and enhance its profit margins.

Citigroup (NYSE:C) reported its Q2 earnings results on Friday, with EPS of $1.33 beating the Street estimate of $1.30. Revenue came in at $19.4 billion, above the Street estimate of $19.27 billion, and representing a 1% decline year-over-year. Shares dropped more than 4% on Friday.
Although Citi’s U.S. personal banking division experienced expansion, this growth was offset by weakness in its investment banking and markets unit. Specifically, markets revenue decreased by 13% to $4.6 billion, and investment banking fees saw a significant drop of nearly a quarter to $612 million.
The company announced a decline in profits for Q2 due to a decrease in deal activity affecting its investment banking division. However, this decrease was partially offset by growth in its personal banking segment.