Key Takeaways
- SLB (SLB) was awarded four integrated well construction contracts by Aramco, targeting the delivery of over 450 wells in Saudi Arabia over a three-year period.
- The U.S. International Trade Commission (ITC) launched an investigation into Micron Technology (MU) and others following patent infringement claims by Netlist (NLST).
- US Building Permits for August were revised upward to a seasonally adjusted annual rate of 1.403 million, though the monthly decline was adjusted to -2.1%.
- Mexico’s Economic Activity (IGAE) for July surged 3.36% year-over-year, significantly outperforming analyst estimates of 2.50%.
SLB Expands Saudi Footprint with Massive Aramco Deal
Energy technology giant SLB (SLB) has solidified its partnership with Aramco through the acquisition of four major integrated well construction contracts. The agreement spans three years with a potential two-year extension, tasking SLB with the end-to-end delivery of more than 450 wells across Saudi Arabia's oil and gas reservoirs.
The contracts highlight a growing industry shift toward integrated delivery models that combine digital workflows with automated drilling systems. Analysts view this as a significant expansion of SLB's high-margin services business in the Middle East, as the company leverages its technical expertise to set new performance benchmarks for the world's largest oil producer.
Micron Faces ITC Scrutiny Over Memory Patents
The U.S. International Trade Commission (ITC) has officially instituted an investigation into Micron Technology (MU), Supermicro (SMCI), HPE (HPE), and Lenovo based on a complaint from Netlist (NLST). The probe, designated as ITC Inv. No. 337-TA-1523, will determine if Micron’s DDR5 RDIMM and MRDIMM products infringe on four specific Netlist patents.
Netlist is seeking exclusion and cease-and-desist orders that could potentially block the importation of the accused memory products into the United States. This legal escalation follows a major settlement between Netlist and Samsung, signaling a more aggressive intellectual property enforcement strategy by the memory innovator.
US Housing Market Shows Resilience Amid Revisions
The U.S. Census Bureau released revised figures for August building permits, showing a seasonally adjusted annual rate of 1.403 million units. While this represents a 2.1% decline from July, it is an improvement over the preliminary estimate of a 2.7% drop (1.394 million units).
Despite the monthly cooling, permits remained 3.5% higher than the August 2025 rate, suggesting that underlying demand for new construction persists despite elevated borrowing costs. The data indicates a bifurcated market where single-family construction remains steady while multi-family projects face sharper headwinds.
Mexico’s Economy Surprises with Robust July Growth
Mexico’s Global Indicator of Economic Activity (IGAE) reported a strong 3.36% year-over-year increase for July, comfortably beating the consensus estimate of 2.50%. On a month-over-month basis, economic activity grew by 0.76%, a sharp reversal from the revised -0.04% seen in June.
The data suggests that the Mexican economy is regaining momentum, driven by strength in the services and trade sectors. This performance provides a positive backdrop for the Bank of Mexico's upcoming policy decisions, as the country navigates a complex inflationary environment and shifting trade dynamics with the United States.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.