Alphabet cut stake in Crowdstrike before outage

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Alphabet cut stake in Crowdstrike before July outage, ComCom to consult Australian regulators on impact of ANZ bond probe, Auckland property investor and developer Du Val Group placed into interim receivership by the High Court, Health NZ drops tool that factored in ethnicity for waitlists, Jonah Lomu’s brother appears in court, and Harris raises $310 million in July as campaign shakeup energises donors.

Let's jump in.

Before The Bell

Markets

• New Zealand stocks held up better than offshore markets as investors became wary of a global economic slowdown. (GR)

Earnings and Data

• The Warehouse Group fell nearly 15% after knocking back a takeover proposal (GR)

• Intel shares fall 20% on plans to cut 15,000 jobs (Herald)

• Telecommunications group Optus has incurred a $480 million annual net loss (AFR)

• Chevron reports Q2 earnings miss on weak refining margins, sending its shares down 1.5% in premarket trading (RT)

• DoorDash forecast third-quarter core profit above expectations and surpassed revenue estimates for the June quarter, shares up over 13% in extended trading (RT)

• Snap forecasts weak revenue as big rivals threaten growth, shares slide 18% after-market (RT)

• Hess shares fall most in 20 months on lengthy new delay to Chevron sale (RT)

• ExxonMobil posted its second highest results for the second quarter in the past decade. (CNBC)

• Nintendo profit falls 55% as sales of its ageing Switch console plunge (CNBC)

• Coinbase Global Inc. posted a profit and revenue doubled as this year’s cryptocurrency recovery carried into the second quarter (BBG)

News Summary

• ComCom to consult Australian regulators on impact of ANZ bond probe (Herald)

• $458m sale of Auckland’s Vero tower ditched (Herald)

• Man ordered to give up $600,000 he profited from illegal gambling, money laundering (Herald)

• Auckland property investor and developer Du Val Group placed into interim receivership by the High Court (RNZ)

• Jonah Lomu’s brother appears in court, charged with importing meth (RNZ)

• Government won't progress remaining 8 recommendations of Christchurch terror attack commission (RNZ)

• Health NZ drops tool that factored in ethnicity for waitlists (RNZ)

• Ngāpuhi walks out of hui with PM, plans protest at Parliament (Stuff)

• SkyCity reveals dates of five day closure after breaching obligations (Stuff)

• PwC leaders at war over tax scandal (AFR)

• Google-parent Alphabet cut stake in Crowdstrike before July outage (RT)

• Harris raises $310 million in July as campaign shakeup energises donors (RT)

• Trump loses appeal of gag order in hush money criminal case (RT)

• Australia, NZ dollars grapple with risk aversion as US growth fears weigh (RT)

Deal Flow

Investments / M&A

• Anglo American has had its bankers courting would-be suitors in Indonesia the past week, ahead of first-round bids for its $US5 billion Australian portfolio. Sources said Anglo’s sell-side advisers at Morgan Stanley and Goldman Sachs were zipping around Jakarta, testing buyer appetite for the coal assets (AFR)

• Retailer Briscoe Group is thinking about the future of its investment in struggling outdoor goods business KMD Brands, the owner of Kathmandu, Oboz, and Rip Curl. This comes after KMD recently announced its second-half sales were down more than 8 percent from a year ago (RNZ)

Daily Picks

• Here’s how much athletes at the Paris Olympics earn for winning medals (CNBC)

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