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As cryptocurrencies become more intertwined with the traditional financial system, industry heavyweights are racing for a long-sought goal of turning real-world assets into digital tokens.

PepsiCo reported earnings that topped analysts' estimates, sending its stock higher. Elevance Health shares tumbled after the company cut its outlook because of rising costs.

Elevance Health stock fell after the insurer said it sees 2025 earnings of just $30 a share, citing ongoing and industry-wide impact of elevated cost trends in ACA and Medicaid.

Elevance Health topped Q2 revenue estimates but missed on EPS and cut its 2025 guidance due to rising medical cost trends in Medicaid and ACA.