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

0915 ET - Dollarama's Australian business generated revenue of C$184.8 million, but its integration is still acting as a drag on broader earnings in 2Q. The segment recorded a loss of C$13.8 million, creating a C$0.05 drag on total earnings per share. It's also operating on a lower gross-margin profile of 32.4%, compared with Canada's 45.7%, which dragged on overall gross margins by 110 basis points. However the integration continues. The company renovated 25 stores and opened four net new stores in the country, bringing the total number of stores with Dollarama's layout and fixtures to 60 locations out of 414 total stores there. Dollarama expects a net loss for the Australian segment in fiscal 2027 as it continues the transition. (adriano.marchese@wsj.com)

0913 ET - J.B. Hunt Transport Services now expects 3Q earnings to decline 5% to 10% sequentially from 2Q. The forecast comes as intermodal pricing has struggled to keep pace with rapidly rising costs, Morgan Stanley analysts say in a research note. The logistics company says it expects roughly $25 million in incremental driver-related costs this quarter, as it ramps up hiring, implements sign-on bonuses and institutes pay raises. At the same time, J.B. Hunt anticipates a nearly $10 million sequential fuel headwind, alongside higher claims costs. Morgan Stanley analysts note, though, that these higher costs should be at least partially offset by improving volumes. J.B. Hunt slides 10% premarket. (connor.hart@wsj.com)

0847 ET - The European Union's proposition to make Canada the bloc's first associate member looks positive for the region's spirits sector, an industry group says. "We were pleased to see Ursula von der Leyen underline the importance of the EU extending its strong, strategic trading partnerships in her speech," trade director Pauline Bastidon at SpiritsEurope says. As a highly export-driven sector, furthering open trade is crucial, Bastidon says. "We view closer ties with Canada positively and will be watching with interest as this relationship develops," she adds. (andrea.figueras@wsj.com)

0830 ET - The economic benefits for Europe of a trade deal with Canada would be relatively small, says Claus Vistesen at Pantheon Macroeconomics. "For Europe, it's geopolitics," he says, citing the rupture between the continent and the U.S. as a major driving force behind negotiations. The move follows on from Canadian Prime Minister Mark Carney's push for the so-called "middle powers" to stand together. "Europe can't rely on America anymore, so it's going out and saying: 'Look, you chose this path. We're choosing another.' There's a natural sense that the EU and Canada can team up here." But economically, the move isn't likely to be groundbreaking for Europe. "It's a fairly small deal. If Europe loses export shares in the U.S. because of high tariffs, it's very unlikely that they will be able to recuperate those shares in free trade with Canada." (don.forbes@wsj.com)

0819 ET - OpenAI's valuation may continue climbing ahead of its hotly-anticipated initial public offering. The ChatGPT maker has held early talks with investors about a new funding round that could value it at more than $1.2 trillion, WSJ reports, up from a valuation of $852 billion in March. The potential for fresh funding comes on the heels of the release of Astra, OpenAI's latest cutting-edge model which it described as the world's most intelligent and aligned model. It would also come ahead of the company's IPO that's now expected next year. (kelly.cloonan@wsj.com)

0813 ET - Alcohol and soft drinks continue to have contrasting outlooks in the European drinks sector, Deutsche Bank analysts say in a note. They stay cautious on spirits and selective on beer, while positive on soft drinks. Alcohol growth in developed markets is experiencing headwinds from health-conscious younger consumers, weight-loss drugs and cannabis, they say. Additionally, growth in the ready-to-drink sector is hitting spirits. (aimee.look@wsj.com)

0807 ET - Dollarama's Latin American joint venture, Dollarcity, remains a primary international growth driver. The Canadian discount retailer posted a 30% increase in second-quarter sales in the region, bringing its share of Dollarcity's net earnings to C$49.9 million from C$38.3 million a year earlier. Growth was driven by same-store-sales gains and store network expansion, with Dollarcity continuing its strategy of retail-space expansion in the region. It added 29 new locations for a total of 781 in Latin America, including 21 in Mexico where it looks to expand its presence. It also benefited from a cash dividend of $75.1 million from its 60.1% ownership in Central American Retail Sourcing, Dollarcity's operating entity, which funded its share of Mexico's buildout. (adriano.marchese@wsj.com)

0805 ET - Canadians continue to turn to Dollarama to stretch their dollars in an increasingly expensive environment. The Canadian discount retailer's 2Q same-store sales in Canada rose at a faster clip of 5.4%, driven primarily by higher foot traffic, reflected in the 3.7% increase in transaction count, alongside a 1.7% rise in average basket size. Dollarama says that an uptick in consumables and general merchandise is what's driving growth consisting of products like cleaning supplies and detergents, skincare and hygiene products, but also shelf-stable packaged food and beverages. Since the pandemic, Canadians have steadily shifted their purchasing habits towards value, more often opting for discounts or trading down to more affordable options on everyday essentials.(adriano.marchese@wsj.com)

0759 ET - Babcock International's new CEO, Harry Holt, is expected to spell out his plans to drive growth and boost operational delivery when the company reports 1H earnings, Jefferies analysts write. "Positioning Babcock to benefit from both traditional platforms and emerging technologies ensures that it remains an attractive opportunity, in our view," they say.The aerospace and defense company is due to report earnings for the fiscal 2027 first half on Nov. 19. Jefferies has a buy rating on the stock with a 14.00 pound target price. Shares are up 2.7% at 10.20 pounds, but 18% lower over the year to date. (ian.walker@wsj.com)

0754 ET - A proposal by the EU to make Canada the bloc's first associate member reflects an attempt to revive long-dormant hopes for a transatlantic trade partnership, says Claus Vistesen at Pantheon Macroeconomics. After talks between the EU and U.S. to implement the Transatlantic Trade and Investment Partnership effectively died following Donald Trump's victory in the 2016 election, the new Canada initiative shows Europe attempting to revive this vision with individual North American states, Vistesen says. "Now, with the North American Free Trade Agreement up in the air, there's a way for Europe to start to try to pick off deals," he says. And the maneuver might not stop in Ottawa. "I wouldn't be surprised if Europe and Mexico try to do something next." (don.forbes@wsj.com)

0742 ET - WH Smith should be able to successfully expand in global travel essentials given its forensic approach to retailing, RBC Capital Markets analysts write. The retailer--which has stores in airports and train stations--reported 2% like-for-like sales growth for the fourth quarter, which included the peak summer trading period. "WH Smith has fairly waterfront coverage in the U.K. but only a 3% share internationally, so should have plenty of room for expansion including in the U.S.," the analysts say. However, they say the company is likely to face strong competition from the likes of Avolta and Paradies Lagardere for new units. RBC has a sector perform rating on the stock and 475 pence target price. Shares are down 0.2% at 362.20 pence and 43% lower over the year to date. (ian.walker@wsj.com)

0727 ET - Cryptocurrency companies are facing a more volatile regulatory environment as a result of the Clarity Act's failure to pass a procedural Senate vote, Bitget Chief Executive Gracy Chen says. The crypto-friendly legislation fell 11 votes short of progressing through the upper house Tuesday. Though the Securities and Exchange Commission is moving to establish market structure rules regulating crypto exchanges, decisions by government agencies are vulnerable to administration changes, Chen says. "Building against rules that could change under a future administration is a very different investment decision from building against legislation," Chen says. "Firms will still invest in the U.S., but will do it more cautiously." Coinbase and Robinhood rise around 0.5% premarket, while Hyperliquid Strategies adds 1% after shares in the exchanges fell sharply Tuesday.