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

0944 ET - The consumer environment remains dynamic, Dollar Tree CEO Mike Creedon says on a call with analysts. "Customers continue managing household budgets carefully, shopping with purpose and prioritizing value and affordability," he says. The discount retailer grew its sales across all income cohorts during the recent quarter, with gains skewing to the middle- and higher-income households, Creedon says. Lower-income consumers, especially, are feeling inflationary pressures, and they are increasingly turning to Dollar Tree for everyday essentials, Creedon adds. (connor.hart@wsj.com)

0941 ET - Italian bank Monte dei Paschi's recent attempt to acquire Banco BPM and Banca Generali looks unlikely to go through, Federated Hermes' Filippo Alloatti says in a note. The deal faces considerable challenges, including requiring approvals from Assicurazioni Generali, Alloatti says. "Monte dei Paschi would also need to win over several skeptical shareholders, including Francesco Caltagirone, who owns around 10% of the bank." These hurdles make the bids extremely challenging to pull off, Alloatti says. (miriam.mukuru@wsj.com)

0938 ET - ASOS is showing that its turnaround strategy is paying off, Shore Capital's Katie Cousins and Clive Black say. The stock has climbed more than 46% year to date. In its first-half results, the British online retailer highlighted the operational and strategic progress made to date, "which we believe is starting to be noticed, helped by a more active investor relations effort," the analysts write in a research note. Going forward, the question is whether ASOS can return to sustainable sales growth and deliver improved profit and cash generation, the analysts add. (andrea.figueras@wsj.com)

0937 ET - Dollar Tree CEO Mike Creedon says he's pleased with the recent quarter, citing positive traffic and stronger-than-expected comparable sales as indications that the discount retailer's growth strategies are working. "It's the combination of a compelling opening price point, deep value, greater choice, trusted brands and new categories that makes the Dollar Tree value proposition so powerful and that brings our customers back to the store," he says on a call with analysts. At the same time, Creedon notes the company is working to strengthen its marketing capabilities and consumer outreach, while remaining focused on operational execution. Dollar Tree is off 3% in early trading after its 3Q outlook underwhelmed investors. (connor.hart@wsj.com)

0925 ET--Burlington Stores says it is using tariff refunds to lower prices because shoppers are struggling due to inflation. "It feels like the right thing to do for our customers," Chief Executive Michael O'Sullivan tells analysts on a call. "Many households, especially moderate- to lower- income families, have struggled with the higher cost of living." Burlington is getting $55 million in refunds, which O'Sullivan says is lower than many other retailers. This is because the discount retailer shifted away from products affected by tariffs. Because of that, Burlington's earnings weren't hit as hard by tariffs, so management doesn't feel the need to flow refunds through to profit, O'Sullivan says. (katherine.hamilton@wsj.com)

0908 ET - Dollar General delivered strong 2Q results, according to Jefferies in a research note. The discount retailer had comparable sales growth of 3.5%, driven by broad-based category strength and continued traffic momentum, the analysts say. "Results exceeded expectations even before tariff-related benefits, while management raised FY26 sales, comp, and EPS guidance," the analysts say. "Importantly, the company does not expect a material tariff impact in the back half, suggesting the guidance raise is being driven by improving underlying business trends and strong execution." Dollar General gains 8% premarket. (connor.hart@wsj.com)

0848 ET - Pernod Ricard shares have little immediate scope for a rebound, J.P. Morgan's Celine Pannuti warns in a note to clients. The French group, which makes Jameson whiskey, Malibu liqueur and Absolut vodka, set a cautious note at its fiscal update Thursday, noting that its medium-term growth framework will be skewed to the lower end as a result of continued weakness in the key U.S. market. "It is difficult to see a reason or catalyst for shares to re-rate from here," Pannuti says. Paris-listed shares trade 7.4% lower at 62.60 euros. (joshua.kirby@wsj.com; @joshualeokirby)

0845 ET - ASOS is starting to look like a very different company as it undergoes a turnaround plan, Berenberg analysts say in a note. The online fashion retailer has been pushing ahead with a complete operational and strategic reset. "We have not yet seen concrete evidence of a sales recovery, but we have seen new customer growth--a leading indicator according to the company--heading in the right direction," they say. The company hasn't yet reported positive sales trends, but the analysts remain optimistic that it could do so within the next 12 months. Berenberg reiterates its buy rating on the stock. Shares are up 0.1%. (andrea.figueras@wsj.com)

0843 ET - Dollar Tree's outlook for 3Q is just okay, Jefferies analysts say in a research note. The discount retailer guides for EPS of 80 cents to 95 cents a share, well below Wall Street models but inclusive of a roughly 50-cent impact from tariff refund reinvestments. "At the same time, management expects comp growth of 3%-4%, broadly in line with current expectations and supportive of continued underlying momentum," the analysts say. Overall, the quarterly readout shows that underlying sales trends remain healthy, they say. The chain's return to positive traffic is an encouraging sign, even as tariff dynamics continue to distort earnings, the analysts add. Dollar Tree falls 7% premarket. (connor.hart@wsj.com)

0840 ET - Ammonia prices across East of Suez markets have fallen more than 40% from their April peak as weak Indian demand overtakes earlier supply concerns, S&P Global Energy says. The Middle East supplied about 80% of India's ammonia imports in 2025, and conflict-related disruptions earlier this year had pushed ammonia prices delivered to Indian ports to a record $885 a metric ton. By August, prices had fallen to around $500 a ton on both coasts as weaker buying and a sulfur shortage shifted the market from a supply-driven rally to a demand-driven decline. (farhan.rafid@wsj.com)

0834 ET - Middle East business-jet activity is showing tentative signs of recovery after a severe conflict-driven downturn, aviation market-intelligence provider JIQ by Jetnet says. Intraregional departures remain below 2025 levels, but the year-on-year gap has been narrowing from its trough, suggesting the sharpest phase of the disruption has passed and activity is stabilizing. The region's business-jet departures were down 5.7% in the 12 months through July, while activity at one stage ran nearly 50% below preconflict levels following the February outbreak of fighting between the U.S. and its allies and Iran. (farhan.rafid@wsj.com)

0835 ET - The luxury sector could experience softer demand in the third quarter, at a time when the industry seeks to recover from a yearslong slump, BofA analysts say in a note. Luxury revenue rose 7% in the quarter through June, marking an improvement from the first three months of the year. Industry data points to a slightly weaker performance from July to September, with the latter being the most important month of the period, the bank says. The sequential slowdown will be most evident in the U.S., Japan, Korea and Macau, which were the strongest regions of the second quarter, they say. "The progressive recovery in luxury demand is not linear."