Tech loses steam, defensive sectors rise! With major capital flows during US earnings season, which undervalued consumer staples companies are worth watching?

Due to high marketing expenses during the FIFA World Cup, Adidas reported earnings below expectations. In the second quarter, Adidas recorded earnings before interest and taxes (EBIT) of 574 million euros, lower than the average expectation of 623 million euros. The significantly underwhelming EBIT and the unchanged earnings outlook may disappoint the market.

Refineries running at full capacity and trading business raking in huge profits, Shell (SHEL.US) achieves its best performance in four years amid Middle East conflicts

Jefferies analyst Mark Wilson wrote that Shell delivered strong second-quarter results after raising investor expectations ahead of the earnings release. He added that notably, the results from the British energy giant did not include the kind of instant guidance and increased dividends that Eni provided to investors when it reported earnings on Wednesday. Shell maintained its $3 billion share buyback program, while Eni increased its buybacks.

The DTC-focused women's fashion brand Reformation (REF.US) has set its US IPO price at $15, at the lower end of the price range.