Financial Morning Summary | SAB (1060) Flags 10% H1 Dividend; East Pipes (1321) Q1 Profit Jumps 36%; Alujain(2170) Signs SAR 89M JV; SMCI Surges 17% After-Hours on $60B+ Orders
Tadawul All Shares Index TASI.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
ALINMA 1150.SA | 0.00 | |
SNB 1180.SA | 0.00 | |
ALDREES 4200.SA | 0.00 |
Most Important News
- Bank AlJazira H1 Net Profit Rises 14% to SAR 847.9M
- East Pipes Q1 Profit Jumps 36% to SAR 122.9M
- Alujain Signs SAR 89M JV to Triple Fiber Capacity
- Super Micro Surges After Hours on Record Order Backlog
Tadawul All Shares Index(TASI.SA) closed 0.4%, or 43 points, lower at 10,699 on July 21, with turnover near SAR 4.1 billion and decliners outpacing advancers 169 to 102.
Al Rajhi Bank(1120.SA) fell 2% to SAR 64, while Alinma Bank(1150.SA) dropped 4% to SAR 23.51 after Q2 2026 results missed expectations. The Saudi National Bank(1180.SA) bucked the trend, rising 1% to SAR 38.80, and Aldrees Petroleum and Transport Services Co.(4200.SA) gained 6% to SAR 114.10 on stronger Q2 profit; Banque Saudi Fransi(1050.SA) and Elm also advanced.
On Wall Street, the S&P 500 index(SPX.US) advanced 0.89% to 7,509.20, the NASDAQ(IXIC.US) added 1.29% to 25,837.21, and the Dow Jones Industrial Average(DJI.US) rose 385.38 points, or 0.74%, to 52,224.64 on Tuesday. All three major indexes snapped three-day losing streaks, as stocks climbed on the back of chipmakers and investors looked past the latest Iran war developments to focus on corporate earnings.
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Saudi MSME Credit Facilities Climb 28% to SAR 489.2B in Q1
Credit facilities extended to Saudi MSMEs rose 28% year-on-year to SAR 489.2 billion in Q1 2026, from SAR 383.34 billion a year earlier, according to the Saudi Central Bank (SAMA). Banks provided SAR 466.7 billion, or 95% of the total, with financing institutions supplying the remainder. Medium-sized firms accounted for 47% of borrowings at SAR 230.4 billion, small firms 35%, and micro-enterprises 18%.
Trump Sets August 1 to Begin Generic Drug Tariffs, Warns of 200% Rate
U.S. President Donald Trump said Tuesday that imported generic drugs will remain tariff-free for two years starting August 1 before facing levies of up to 200%, as his administration pushes to reshore pharmaceutical production. The policy is designed to spur drugmakers to build U.S. plants or face penalties. Major generics-exposed names including Bristol-Myers Squibb Company(BMY.US) , Merck & Co., Inc.(MRK.US) , Novartis AG Sponsored ADR(NVS.US) , Amgen Inc.(AMGN.US) , GlaxoSmithKline plc Sponsored ADR(GSK.US) and Johnson & Johnson(JNJ.US) could be affected.
KSA Stocks
Bank AlJazira H1 Profit Rises 14% to SAR 847.9M
Bank Aljazira(1020.SA) reported a 14% year-on-year increase in H1 2026 net profit to SAR 847.9 million, from SAR 743.1 million a year earlier, driven by a 10% rise in net financing and investment income. The lender posted Q2 2026 net profit of SAR 442.8 million, up 16% from SAR 382.1 million a year ago and 9.3% higher sequentially. Operating income for the half rose 9% to SAR 2.37 billion, while total provisions eased to SAR 171.2 million.
Saudi Awwal Bank Flags H1 Cash Dividend of SAR 1 a Share
Saudi Awwal Bank(1060.SA) declared an H1 2026 cash dividend of SAR 1.00 per share after Zakat, equal to 10% of capital and a total payout of SAR 2.05 billion. The record date is set for August 2, 2026, with payment due August 13. Based on the latest share price, the stock carries a dividend yield of 6.18%. The board's decision reflects continued capital returns to shareholders amid steady earnings.
SVCP Board Proposes 56.86% Capital Cut, Rights Issue
Saudi Vitrified Clay Pipes Co.(2360.SA) said its board proposed cutting capital by 56.86% to SAR 64.72 million from SAR 150 million, cancelling 8.53 million shares to offset SAR 85.28 million of accumulated losses. Following the reduction, the board plans a SAR 90 million rights issue to strengthen the balance sheet and fund operations and strategic plans, with Wasatah Capital as financial adviser and underwriter. The move, pending CMA and EGM approval, is not expected to affect obligations or operations.
East Pipes Q1 Profit Jumps 36% to SAR 122.9M on Higher Sales
East Pipes Integrated Company for Industry(1321.SA) posted a 36% year-on-year rise in net profit to SAR 122.9 million for the first quarter ended June 30, 2026, from SAR 90.3 million a year earlier, as revenue climbed 35% to SAR 520.7 million. The profit growth was driven by higher sales of large-diameter pipes, while sequentially profit fell 25% from SAR 164.7 million on softer quarter-on-quarter volumes. Total equity stood at SAR 1.56 billion, up from SAR 1.22 billion a year earlier.
Alujain Signs SAR 89M JV with Beaulieu Fibres to Scale Fiber Capacity
Alujain Corp.(2170.SA) signed a SAR 89 million joint-venture agreement with Belgium's Beaulieu Fibres International, under which the partner will invest in and take a 50% stake in Alujain's Infrastructure Reinforcement Industrial Co. (IRIC) to expand synthetic fiber and nonwoven capacity from 26,000 to 88,000 tonnes per year. The deal also includes up to SAR 330 million of additional capex by both parties, with financial impact expected to begin in late Q4 2026. Alujain said the transaction involves no related parties.
USA Stocks
Super Micro Surges 17% After Hours on Record Backlog, Strong Q4 Prelim
Super Micro Computer, Inc.(SMCI.US) jumped 16.99% to $29.83 in after-hours trading Tuesday after the company issued strong preliminary Q4 results. Super Micro said its accumulated order backlog reached record levels after logging more than $60 billion in new orders during its fiscal fourth quarter, with Q4 revenue seen near the low end of its $11 billion–$12.5 billion guidance and gross margin now expected at 15%–17%, up sharply from 8.2%–8.4% prior. The server maker reports Q4 earnings on August 11.
US Stocks in Focus: SMCI, RKLB, DELL, COF, OKLO Lead Retail Attention
- Super Micro Computer, Inc.(SMCI.US) : closed up 7.01% to $25.50 and added 20.58% after hours to $30.75 on a record order backlog above $60 billion and raised gross-margin guidance of 15%–17%
- Rocket Lab(RKLB.US) : rose 5.14% to $69.12 after winning a $266 million US Space Force contract for 12 suborbital launches
- Dell Technologies, Inc. Class C(DELL.US) : gained 6.01% to $404.15 as Jim Cramer flagged its AI-server potential following Super Micro's prelim
- Capital One Financial Corp(COF.US) : dipped 0.27% to $206.22 despite Q2 EPS of $5.81, beating estimates by 21.8% on $15.85 billion revenue
- Oklo Inc(OKLO.US) : added 6.31% to $44.13 on its role in a $200 million Trump administration program to build new power plants for AI data centers
| Event | Company |
|---|---|
| Ordinary assembly meeting | Tihama Advertising, Public Relations and Marketing Co.(4070.SA) |
| Extraordinary general meeting (capital hike) | Naseej International Trading Co.(1213.SA) |
| Eligibility for subscription to rights issue | Naseej International Trading Co.(1213.SA) |
| Eligibility for Cash Dividend | SEDCO Capital Multi Asset Traded Fund(4703.SA) |
| EIA Report on US Crude Oil and Petroleum Inventories – Weekly Reports | E.I.A |