Microsoft's Satya Nadella says job cuts have been 'weighing heavily' on him
'Before anything else, I want to speak to what's been weighing heavily on me, and what I know many of you are thinking about: the recent job eliminations,' Nadella wrote in a memo to employees Thursday.
After Microsoft's latest labor reductions, investors pushed the stock's closing price above $500 for the first time on July 9. The company announced the layoffs of about 9,000 people a week earlier. Microsoft employed 228,000 people as of June 2024. It hasn't provided a new figure that takes into account its layoffs this year, but Nadella wrote that headcount is basically flat.
'This is the enigma of success in an industry that has no franchise value,' he wrote. 'Progress isn't linear. It's dynamic, sometimes dissonant, and always demanding. But it's also a new opportunity for us to shape, lead through, and have greater impact than ever before.'
The cuts at Microsoft are reflective of an overall trend across the tech industry, with over 80,000 positions eliminated to date in 2025, according to one count. Recruit Holdings announced earlier this month that it would lay off 1,300 people from its human resources technology segment that includes the Indeed and Glassdoor websites. The company's CEO pointed to artificial intelligence in a memo, Bloomberg reported.
On social media in recent months, some Microsoft employees have become disheartened about the company's cutbacks, given its stature.
'I have loved working for this company, still do, but this has done so much damage to that loyalty because it has shown that Microsoft's espoused values do not apply to business decisions at the macro level,' a person who lists themselves as a Microsoft directed on LinkedIn posted last week.
Microsoft is the world's most valuable public company after Nvidia, whose chips have become a critical piece of the AI arms race. Microsoft's Windows and Office franchises remain dominant, and its Azure cloud services have seen faster growth in recent years as OpenAI and other companies rent out Nvidia graphics cards to run AI models.
In the memo, Nadella touched on Microsoft's mission for the past 10 years, which has been to empower every person and every organization on the planet to achieve more, and how the rise of AI is changing it.
'We must reimagine our mission for a new era,' he wrote. 'What does empowerment look like in the era of AI? It's not just about building tools for specific roles or tasks. It's about building tools that empower everyone to create their own tools. That's the shift we are driving — from a software factory to an intelligence engine empowering every person and organization to build whatever they need to achieve.'
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23 minutes ago
- Yahoo
Trading day takeaways: Nvidia record, US dollar moves, oil pops
The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) closed Monday's trading session at fresh record highs. Meanwhile, Yahoo Finance Markets and Data Editor Jared Blikre joins Asking for a Trend to share his takeaways from the trading day: Nvidia's new record, moves in the US dollar (DX=F), and crude oil prices (CL=F). To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. The S&P 500, the Nasdaq eked out records to kick off what is going to be a jam packed week for Wall Street. Here with the trading day takeaways. We've got Yahoo finances Jared Blikre. Jared. Thank you, Josh. Eked out is right. The S&P 500 just barely closed in the green. It was enough for a record. Nasdaq a little bit higher and it was all thanks to the semiconductors led by the Kahuna, the biggest stock in the solar system in video. Let me get a quick market cap check, $4.31 trillion. Look at Broadcom, 1.384. That's, uh, that's nothing to sneeze at either. Um, but here we go. So the semiconductors really outperforming today, AMD up 4.32%. Let me just show you the sector action real quickly because another theme I was noticing was we don't have great breadth in the market right now. We had energy. That was on the back of crude oil. We might have time for that later. Tech and consumer discretionary. That's an Amazon and Tesla story, mainly Tesla today. Everything else and in the red. Another thing I noticed that was interesting was the S&P equal weighted index. So S&P 500 equal weighted, that was down half a percent and that's just a continuation of the low or poor breadth theme because every stock gets the same weight in there as opposed to the S&P 500, which just barely crossed into the green by the close. But thanks to those mega cap names that finished in the green. So all in all, I, without Nvidia, this would not have been a positive market today. What was it? Was it the big mover in today's trade? Let me get to that right here. And for that we got to go to some of those trade headlines that we saw over the weekend and that was causing the US dollar to surge. And I also want to add that the seasonals are turning bullish. And so we saw that EU and US deal kind of take shape and we got a big decline in the euro. And so conversely we saw the dollar shoot up there. When the dollar shoots up, sometimes that spills over into equities. And so it's not surprising that materials, and I you saw XLB take the biggest hit. That's where you see gold miners, and we'll get to that in a second. But first, on the dollar, I also did a segment this morning on seasonality of the dollar, which is just turning very bullish this, uh, within these few days here, according to one of my models. So I have three lines here. White is what has happened with the dollar this year so far in 2025 and it's basically been just a slow and steady line down. So you 2025 is not been friendly to the dollar. However, I have two models. Blue is going back to 1971. It's an average of all the years. It's not very volatile. It's hard to see here, but it just, it does inflect up a little bit, uh, in this time of the year. But what you really notice here is a steeper line. That's the green line. If you go back to 1971 and you only include the years where you have the same day of the week, like, uh, Monday, July 28th, you want to make sure you have that exact configuration, then we get a lot more steep action here. And that model has served me well over the last few years since I, since basically I discovered it. So on that, I am saying that there's a warning that the dollar turns up here strongly. That is a non-consensus position. We know that there's been a lot of bearish sentiment, a lot of bearish positioning in the dollar. And so this is kind of a risk factor that I think exists in the market. And let me just show you real quickly what happened today on the back of this US dollar index strength, this broad strength in the dollar. And I'll go to the futures for that. There's more green than red here, but we really saw the metals take a hit. So copper was down almost 3%. Gold took a little bit of a tumble, silver also in the red. But look at cryptocurrencies. Crypto was really the red factor today. So metals down. What, what about other commodities, Jared? All right. So here we got to go, we got to touch on crude oil here. And crude oil was one of the biggest gainers of the day. So I'll go back to my futures chart here and there we go. Crude oil is going to be second or third actually next to cocoa and palladium. Had a chance to sit down with Dan Dicker today of the energy word. We talked about trading futures. And, uh, this is for stocks and translation. Episode drops tomorrow. Let's take a listen. Oil definitely does not belong in anyone's portfolio. I did it for, uh, I traded on the floor for 21 years and I still trade, uh, oil futures today. But I am a, you know, I am a trained professional. Do not try this at home. These are the kinds of markets where if you do want to have an investment in oil, and obviously I shepherd other investors who want to be engaged in the energy markets, so there is an oil part of that, you find stocks that have, you know, a relatively good, um, you know, compliance with the oil price, uh, oil companies. I tend to put people into infrastructure. It's a lot easier for them to understand and and, um, and leverage, uh, on in on the basis of an oil price. So there are ways to invest in oil prices without actually getting involved in the futures. Yeah. And so what I like about that, don't trade the futures unless you are not the faint of heart. He likes energy stocks in general, but he also was a big proponent of clean energy and I got a heat map for that here too. Uh, more of a mixed board today, but these have really taken off over the last month. There's a lot of headwinds with regulatory issues, Trump blocking the IRA, but in general, uh, futures, futures are kind of a dangerous thing to trade. Stocks not. Thank you, Jared. Appreciate it, my friend.
Yahoo
34 minutes ago
- Yahoo
Markets are about to kick off a huge week of earnings and macro data
The stock market is headed for its biggest week of the summer. Investors are watching Magnificent Seven earnings, the Fed meeting, and a barrage of macro data. Trump's August 1 deadline for tariff negotiations will cap off the week. This week is jam-packed with potential catalysts to move markets. Investors are looking at a heavy week of economic data and market-moving updates, with the Federal Reserve set to kick off its latest policy meeting, four out of the Magnificent Seven due to report earnings, and GDP and jobs data on deck. Here are the things investors can expect to look forward to: Mag 7 earnings More of the biggest tech giants in the US are set to report earnings for the last quarter, offering investors some insight on the state of the AI trade and whether companies are still willing to shell out for artificial intelligence chips. Here's who is on deck to report after the close: Wednesday: Meta, Microsoft. Thursday: Amazon, Apple Of the Mag 7 group, Alphabet and Tesla already reported earnings last week. Alphabet beat earnings and revenue estimates for the second quarter, but investors were concerned about the company's unexpected $10 billion increase in capital expenditures. Tesla, which has been mired in a long-running EV sales decline, saw its biggest quarterly revenue drop in at least a decade. Chip titan Nvidia will report at the end of August. Of the 34% of S&P 500 companies that have reported their results so far, 80% have beat earnings estimates, above the running average for the last 10 years, according to the latest update from FactSet. Data deluge The market is also gearing up for fresh inflation, jobs, and economic growth data coming out this week. Here's the timeline of what investors can expect: Wednesday Second-quarter GDP (second estimates). Economists expect the second estimate for second-quarter GDP to show that the economy expanded 2.3% year-over-year last quarter. Advanced estimates from the Commerce Department suggested that real GDP rose 2.8% year-over-year. ADP private payrolls. Economists expect the private sector to add 82,000 in July. That compares to the 33,000 jobs the private sector lost in June, according to last month's ADP report. Thursday Personal Consumption Expenditures inflation. The Fed's preferred inflation measure will get an update this week. Core PCE rose 2.7% in May, with June's figure also expected to clock in at 2.7%. Friday July Jobs report. Economists expect the US to add 102,000 jobs in July, down from the 147,000 payrolls added in June. Trump's tariff deadline Trump's August 1 deadline for tariff negotiations is coming up at the end of the week. Trump announced a fresh trade deal with the European Union on Sunday, which includes a 15% tariff on European imports and several stipulations for the EU to invest in the US and purchase more goods in key sectors. Yet, other countries are still negotiating. The US has only inked a handful of trade agreements with other countries, but Trump's team has said in recent weeks it expects more deals to follow. Some investors are hoping Trump will extend his deadline for tariffs, as he did earlier in the year, but Commerce Secretary Howard Lutnick said the deadline is set in stone with "no more grace periods" planned when speaking to Fox News on Sunday. Countries that haven't reached a trade agreement with the US by then will be subject to the tariff rate the president proposed on Liberation Day, or the tariff rate he proposed in a slew of letters sent to 23 countries that he also published on Truth Social. Some sector tariffs, like Trump's 50% tariff on copper imports, are also set to kick in on Friday. Fed meeting All eyes are on Fed Chair Jerome Powell on Wednesday as the central bank concludes its July meeting and announces its next interest rate decision to the public. Markets largely expect the central bank to keep rates steady as it eyes the impact of tariffs on inflation. Investors are pricing in a 98% chance the Fed will leave its benchmark rate unchanged this week, and a 44% chance the Fed will cut rates just once or twice by the end of the year, according to the CME FedWatch tool. "While the Federal Reserve is under pressure to cut interest rates, it's clear that this economy has been able to and should continue to be able to withstand the current level of interest rates. Stocks are up almost 10% so far this year, and we haven't seen a rate cut in eight months," Paul Stanley, the CIO of Granite Bay Wealth Management, wrote in a note. Trump has been highly critical of the Fed Chair, pushing for lower interest rates this year. But the president seemed to suggest he would accept whatever decision FOMC members came to when visiting the Fed last week. "Well, I'd love him to lower interest rates. Other than that, what can I tell you?" Trump said when speaking to reporters on Wednesday. "We would be helped if interest rates would come down, but we're going to see how the Board rules on that soon. I'd love to see them come down a lot," he later added. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
- Yahoo
Earnings live: Whirlpool, Tilray stocks tumble, with Spotify earnings on deck
Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones. Companies had a lower bar to clear coming into the quarter, as analysts tempered their expectations amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. This week, investors will be treated to another flurry of quarterly results from Big Tech companies, including Microsoft (MSFT), Apple (AAPL), Meta (META), and Amazon (AMZN). This week's reports also include updates from Spotify (SPOT), Ford (F), Procter & Gamble (PG), Boeing (BA), Starbucks (SBUX), and Qualcomm (QCOM), among others. Data from FactSet published Friday showed that with 34% of the index having reported results, analysts expect S&P 500 companies to report a 5.6% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. Whirlpool stock tumbles after trimming earnings guidance Whirlpool (WHR) stock tumbled 12% after hours. The Michigan-based maker of washers and dryers reported diluted earnings of $1.17 per share on net sales of $3.7 billion. Wall Street was expecting earnings of $1.58 per share on net sales of $3.8 billion. Investors have been watching Whirlpool, which manufactures most of its appliances in the US, as a potential winner from President Trump's tariffs. However, the company hasn't seen the benefits of Trump's policies yet. In fact, retailers front-running expected tariffs appeared to weigh on the company's second quarter results. "As expected, the second quarter continued to be impacted by competitors stockpiling Asian imports into the U.S.," the company said in the earnings release. "Despite this, we are well positioned in North America with a robust pipeline of new products, the industry's leading U.S. manufacturing footprint, and favorable housing demand fundamentals. We are confident in our long-term strategy and believe that evolving tariff policies will ultimately support domestic manufacturers." Whirlpool also cut its full-year guidance to $6 to $8 a share (previously it was $10 a share) and recommended slashing its quarterly dividend to $0.90 per share from $1.75 per share. Waste Management beats on revenue, earnings Waste Management (WM) reported earnings and revenue that beat Wall Street expectations, sending the shares marginally higher in after-hours trading. Earnings per share of $1.92 were ahead of estimates for earnings of $1.90 per share, while revenue of $6.43 billion exceeded estimates of $6.35 billion, per S&P Global Market Intelligence. "Our second quarter results are a strong demonstration of our progress on all fronts," WM CEO Jim Fish said in a release. "Our Collection and Disposal business produced robust organic revenue growth and margin expansion, achieving the Company's best-ever operating expense margin." Waste Management stock rose 0.7% following the results. Tilray stock sinks after earnings Tilray stock (TLRY) reversed gains, sinking 2% after hours after the Canadian cannabis company posted mixed quarterly results. Net revenue was $224.5 million in the fourth quarter compared to $229.9 million in the same period a year ago and $233 million estimated, per S&P Global Market Intelligence. Tilray posted adjusted earnings of $0.02 per share, compared to expectations for flat profitability. For its fiscal year ended May 31, 2026, Tilray expects to achieve adjusted EBITDA of $62 million to $72 million Listen to the earnings call live here. An earnings scorecard Yahoo Finance's Josh Schafer reports: Read more here. S&P 500 hits record highs amid parade of earnings with more Big Tech results on deck The S&P 500 (^GSPC) cleared its fifth straight record high on Friday after a busy week of earnings, headlined by reports from Google (GOOG) and (TSLA). With 34% of S&P 500 companies having reported results, 80% have reported a positive earnings per share surprise, and 80% reported a positive revenue surprise. Earnings season isn't slowing down just yet, however, with more major companies reporting next week. Notable companies reporting include Big Tech giants such as Microsoft (MSFT) and Apple (AAPL) and consumer-facing names like Procter & Gamble (PG) and Mastercard (MA) that can provide an updated view on consumer health. Here's a look at the earnings calendar for the next five business days: Monday: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Tuesday: Boeing (BA), Booking Holdings (BKNG), Caesars (CZR), Cheesecake Factory (CAKE), Merck (MRK), PayPal (PYPL), Procter & Gamble (PG), Spotify (SPOT), Starbucks (SBUX), SoFi (SOFI), UnitedHealth Group (UNH), UPS (UPS), Visa (V) Wednesday: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Thursday: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR) Friday: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) Intel turnaround story could realistically take years, analyst says Intel (INTC) stock fell 9% on Friday after the company reported quarterly results on Thursday that showed it was focused on cost-cutting. Intel's revenue of $12.8 billion beat analyst expectations of $11.8 billion, per Bloomberg data, and the chipmaker issued an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. But the company continues to face challenges as it attempts to transform into a chipmaker as well as a chip designer. As Yahoo Finance's Laura Bratton noted in our markets blog, investors focused on Intel's manufacturing roadmap instead of its headline numbers for the quarter. Intel, once a leading global chipmaker, has fallen behind its rivals in both its own products and its attempt to manufacture chips for outside customers. 'This is a multiquarter — realistically, probably multiyear — kind of complete turnaround story before all the benefits start to show up,' TECHnalysis Research president and chief analyst Bob O'Donnell told Yahoo Finance following the report. Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) reported earnings and revenue that topped analyst expectations on Thursday, and the Samuel Adams brewer maintained its earnings outlook for the year. Profits were $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. SAM stock popped 6% on Friday, as the company also said it expects to see lower tariff costs than previously expected. For the full year, Boston Beer expects tariffs to weigh on costs by about $15 million to $20 million, instead of the $20 million to $30 million it previously modeled. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Charter loses more broadband users in Q2 as competition heats up Charter Communications (CHTR) stock fell 10% premarket Friday after reporting a higher-than-expected fall in broadband subscribers in the second quarter. Reuters reports: Read more here. Puma stock plunges after reporting net loss, with challenges persisting throughout 2025 Puma ( stock plunged 17% after the German sports apparel company lowered its forecast and said it now expects sales to fall by double digits this year. During the second quarter, sales fell everywhere except Latin America and the Middle East, particularly in apparel (-10.7%) and accessories (-6.4%). Footwear sales grew 5.1%, which wasn't enough to offset softness elsewhere. The company swung to a net loss of 241 million euros (roughly $282 million), compared to net income of 41.9 million euros the year before. The sportswear company also noted a hit from tariffs. "Despite ongoing mitigating measures such as supply chain optimization, pricing adjustments and partner collaboration, the U.S. Tariffs are expected to have a mitigated negative impact in 2025 of around € 80 million on gross profit," Puma said in its release. Phillips 66 profit beats estimates on higher refining margins Phillips 66 (PSX) stock rose about 1% in premarket trading after the US refiner reported an adjusted profit of $2.38 per share, beating Wall Street EPS estimates of about $1.71. During the quarter, Phillips 66 returned $906 million to shareholders through dividends and share buybacks. Reuters reports: Read more here. Health insurer Centene reports surprise quarterly loss Centene's (CNC) stock fell 12% before the bell on Friday after the health insurance company reported a quarterly loss and warned of a revenue slump from government-backed plans. Read more here. Deckers stock soars after Hoka, Ugg sales surge Hoka sneakers and Ugg brand shoes boosted Deckers (DECK) sales and profits last quarter, sending shares up more than 14% after hours. On Thursday, Deckers reported net sales grew 17% to $964.5 million, above estimates of $901.4 million, per Bloomberg data. Profits surged 24%, with diluted earnings per share coming in at $0.93. "HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026," CEO Stefano Caroti said in a press release. "Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy." The main story for the quarter was Deckers' international business: International net sales rose 49.7%, offsetting a 2.8% decline in domestic sales. The company expects net sales for the current quarter in the range of $1.38 billion to $1.42 billion, in line with analyst estimates. Earnings are expected to be in the range of $1.50 to $1.55 per share. Read more here. Intel stock rises on Q2 revenue beat, plans to cut 15% of workforce Intel (INTC) second quarter revenue beat analyst estimates, but its earnings fell short of expectations. The chip giant also said it is slashing its workforce by 15% and expects to have approximately 75,000 employees by the end of the year. Intel's new CEO Lip-Bu Tan has already undertaken or is exploring several cost-cutting measures. According to the Oregonian, the company is shuttering its automotive business, outsourcing marketing jobs, and laying off factory workers. Yahoo Finance's Daniel Howley has more details on Intel's results: Read more here. Intel to report Q2 earnings as Wall Street looks for signs of turnaround Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant. Yahoo Finance's Dan Howley details what to expect when Intel reports: Read more here. Southwest CFO says decision to lower guidance by $1 billion was 'macro-driven' Southwest (LUV) stock tanked on Thursday after the airline's earnings results missed estimates. Shares fell over 12% as the earnings call with investors began. (You can listen to the full call here.) Earlier on Thursday, Southwest CFO Tom Doxey told Yahoo Finance that the company's disappointing results were primarily caused by broader economic challenges, tariff uncertainty, and weaker consumer sentiment. Doxey confirmed that Southwest lowered its full-year pre-tax profit (EBIT) guidance to $600 million-$800 million from the $1.7 billion forecast previously. 'There's an estimate of about $800 million to $1 billion in revenue degradation that has occurred as a result of the macro,' Doxey said. 'The number is large, but it is macro-driven.' He said that Southwest's domestic travel revenue outperformed peers. But the overall domestic segment underperformed international and premium travel, which are the strengths of other airlines like Delta (DAL) and United (UAL). Southwest's second quarter got off to a rocky start as consumer confidence plummeted to a three-year low after President Trump's "Liberation Day" tariff announcement in April. That translated to lower travel demand at the beginning of the peak summer season. However, things are improving, Doxey said. 'Demand fell off quite quickly during that period,' he noted. 'The great news is we're starting to see that stabilize.' Blackstone assets under management surge, COO says dealmaking pause 'is behind us' Blackstone (BX) surprised Wall Street analysts on Thursday when it reported its assets under management surged 13% to a record $1.21 trillion. Profits also rose 72% to $764 million, compared to the second quarter of last year, sending shares nearly 5% higher in early trading. Notably, Blackstone's No. 2 echoed other big banks in the company's earnings call in saying that the dealmaking pause is behind us. Yahoo Finance's David Hollerith reports: Read more here. Alphabet in 'AI (beast) mode': 5 takeaways from Google's earnings call Alphabet (GOOG, GOOGL) shares rose in early trading as investor sentiment grew positive on the stock following its bullish earnings call commentary and strong Q2 results. And my colleague Brian Sozzi jotted down some takeaways from the earnings call that help explain the bullish mood today: Sozzi noted that, in many ways, it's surprising that Alphabet stock is up just 1.5% this morning, as it's trading at only 19.3 times forward earnings on a PE basis (S&P 500 is at 24 times). Several Wall Street analysts agreed. "AI (beast) mode — it's time to close the valuation gap," KeyBanc analyst Justin Patterson said. Wedbush analyst Dan Ives added, "We continue see a favorable risk/reward for Alphabet and think there is a case for multiple expansion in the coming quarters as investors gain more comfort around the current macro environment, regulatory risk, and the impact of generative AI on the business." Read more takeaways from Google's earnings call here. Uptick in coal shipments boosts Union Pacific earnings Union Pacific (UNP) second quarter profits exceeded Wall Street's expectations, driven by operational improvements, higher freight volumes, and improved pricing. The stock fell 2% ahead of the opening bell Thursday. The economic bellwether saw an uptick in coal shipment volumes in the second quarter, as well as in shipments of grain products and industrial chemicals. The improvement in coal shipments stood out after President Trump signed executive orders boosting the industry, which has been a weak spot for railroad operators. Union Pacific confirmed that it is in talks with Norfolk Southern (NSC) on a possible merger that would reshape the US's railroad industry. The magnitude of a combination of the railroad operators would put the deal under close regulatory and antitrust scrutiny. Here's what Union Pacific reported in Q2, per Reuters: Read more here. American Airlines restores 2025 forecast, flags economic worries for keeping it broad American Airlines (AAL) maintained a broad 2025 forecast on Thursday, citing economic uncertainty, with one of the outcomes being a loss to profit. The carrier's shares fell 6% before the bell. The airline is facing challenges in the domestic travel market, where travel spending remains weak due to US tariffs and budget cuts. Reuters reports: Read more here. Honeywell beats on earnings, raises 2025 forecasts on sustained demand for aerospace parts, services Honeywell (HON) stock fell premarket despite reporting an earnings beat and guidance raise. Adjusted earnings per share of $2.75 exceeded Wall Street's estimates of $2.66 per share. Sales hit the top end of the company's guidance at $10.4 billion, compared to estimates of $10.1 billion. Strong demand for aerospace parts and maintenance services lifted Honeywell's results as it prepares to split into three companies. The company's aerospace division, its biggest revenue generator, posted a 10.7% jump in sales to $4.31 billion in the second quarter, as the Boeing (BA) and Airbus ( supplier benefited from rising demand and a shortage of new jets. Honeywell raised its revenue outlook and now expects between $40.8 billion and $41.3 billion for the year, up from the $39.6 billion and $40.5 billion it had previously forecast. It also sees 2025 adjusted profit per share between $10.45 and $10.65, up from its previous forecast of $10.20 to $10.50. Read more here from Reuters. Whirlpool stock tumbles after trimming earnings guidance Whirlpool (WHR) stock tumbled 12% after hours. The Michigan-based maker of washers and dryers reported diluted earnings of $1.17 per share on net sales of $3.7 billion. Wall Street was expecting earnings of $1.58 per share on net sales of $3.8 billion. Investors have been watching Whirlpool, which manufactures most of its appliances in the US, as a potential winner from President Trump's tariffs. However, the company hasn't seen the benefits of Trump's policies yet. In fact, retailers front-running expected tariffs appeared to weigh on the company's second quarter results. "As expected, the second quarter continued to be impacted by competitors stockpiling Asian imports into the U.S.," the company said in the earnings release. "Despite this, we are well positioned in North America with a robust pipeline of new products, the industry's leading U.S. manufacturing footprint, and favorable housing demand fundamentals. We are confident in our long-term strategy and believe that evolving tariff policies will ultimately support domestic manufacturers." Whirlpool also cut its full-year guidance to $6 to $8 a share (previously it was $10 a share) and recommended slashing its quarterly dividend to $0.90 per share from $1.75 per share. Whirlpool (WHR) stock tumbled 12% after hours. The Michigan-based maker of washers and dryers reported diluted earnings of $1.17 per share on net sales of $3.7 billion. Wall Street was expecting earnings of $1.58 per share on net sales of $3.8 billion. Investors have been watching Whirlpool, which manufactures most of its appliances in the US, as a potential winner from President Trump's tariffs. However, the company hasn't seen the benefits of Trump's policies yet. In fact, retailers front-running expected tariffs appeared to weigh on the company's second quarter results. "As expected, the second quarter continued to be impacted by competitors stockpiling Asian imports into the U.S.," the company said in the earnings release. "Despite this, we are well positioned in North America with a robust pipeline of new products, the industry's leading U.S. manufacturing footprint, and favorable housing demand fundamentals. We are confident in our long-term strategy and believe that evolving tariff policies will ultimately support domestic manufacturers." Whirlpool also cut its full-year guidance to $6 to $8 a share (previously it was $10 a share) and recommended slashing its quarterly dividend to $0.90 per share from $1.75 per share. Waste Management beats on revenue, earnings Waste Management (WM) reported earnings and revenue that beat Wall Street expectations, sending the shares marginally higher in after-hours trading. Earnings per share of $1.92 were ahead of estimates for earnings of $1.90 per share, while revenue of $6.43 billion exceeded estimates of $6.35 billion, per S&P Global Market Intelligence. "Our second quarter results are a strong demonstration of our progress on all fronts," WM CEO Jim Fish said in a release. "Our Collection and Disposal business produced robust organic revenue growth and margin expansion, achieving the Company's best-ever operating expense margin." Waste Management stock rose 0.7% following the results. Waste Management (WM) reported earnings and revenue that beat Wall Street expectations, sending the shares marginally higher in after-hours trading. Earnings per share of $1.92 were ahead of estimates for earnings of $1.90 per share, while revenue of $6.43 billion exceeded estimates of $6.35 billion, per S&P Global Market Intelligence. "Our second quarter results are a strong demonstration of our progress on all fronts," WM CEO Jim Fish said in a release. "Our Collection and Disposal business produced robust organic revenue growth and margin expansion, achieving the Company's best-ever operating expense margin." Waste Management stock rose 0.7% following the results. Tilray stock sinks after earnings Tilray stock (TLRY) reversed gains, sinking 2% after hours after the Canadian cannabis company posted mixed quarterly results. Net revenue was $224.5 million in the fourth quarter compared to $229.9 million in the same period a year ago and $233 million estimated, per S&P Global Market Intelligence. Tilray posted adjusted earnings of $0.02 per share, compared to expectations for flat profitability. For its fiscal year ended May 31, 2026, Tilray expects to achieve adjusted EBITDA of $62 million to $72 million Listen to the earnings call live here. Tilray stock (TLRY) reversed gains, sinking 2% after hours after the Canadian cannabis company posted mixed quarterly results. Net revenue was $224.5 million in the fourth quarter compared to $229.9 million in the same period a year ago and $233 million estimated, per S&P Global Market Intelligence. Tilray posted adjusted earnings of $0.02 per share, compared to expectations for flat profitability. For its fiscal year ended May 31, 2026, Tilray expects to achieve adjusted EBITDA of $62 million to $72 million Listen to the earnings call live here. An earnings scorecard Yahoo Finance's Josh Schafer reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. S&P 500 hits record highs amid parade of earnings with more Big Tech results on deck The S&P 500 (^GSPC) cleared its fifth straight record high on Friday after a busy week of earnings, headlined by reports from Google (GOOG) and (TSLA). With 34% of S&P 500 companies having reported results, 80% have reported a positive earnings per share surprise, and 80% reported a positive revenue surprise. Earnings season isn't slowing down just yet, however, with more major companies reporting next week. Notable companies reporting include Big Tech giants such as Microsoft (MSFT) and Apple (AAPL) and consumer-facing names like Procter & Gamble (PG) and Mastercard (MA) that can provide an updated view on consumer health. Here's a look at the earnings calendar for the next five business days: Monday: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Tuesday: Boeing (BA), Booking Holdings (BKNG), Caesars (CZR), Cheesecake Factory (CAKE), Merck (MRK), PayPal (PYPL), Procter & Gamble (PG), Spotify (SPOT), Starbucks (SBUX), SoFi (SOFI), UnitedHealth Group (UNH), UPS (UPS), Visa (V) Wednesday: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Thursday: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR) Friday: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) The S&P 500 (^GSPC) cleared its fifth straight record high on Friday after a busy week of earnings, headlined by reports from Google (GOOG) and (TSLA). With 34% of S&P 500 companies having reported results, 80% have reported a positive earnings per share surprise, and 80% reported a positive revenue surprise. Earnings season isn't slowing down just yet, however, with more major companies reporting next week. Notable companies reporting include Big Tech giants such as Microsoft (MSFT) and Apple (AAPL) and consumer-facing names like Procter & Gamble (PG) and Mastercard (MA) that can provide an updated view on consumer health. Here's a look at the earnings calendar for the next five business days: Monday: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Tuesday: Boeing (BA), Booking Holdings (BKNG), Caesars (CZR), Cheesecake Factory (CAKE), Merck (MRK), PayPal (PYPL), Procter & Gamble (PG), Spotify (SPOT), Starbucks (SBUX), SoFi (SOFI), UnitedHealth Group (UNH), UPS (UPS), Visa (V) Wednesday: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Thursday: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR) Friday: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) Intel turnaround story could realistically take years, analyst says Intel (INTC) stock fell 9% on Friday after the company reported quarterly results on Thursday that showed it was focused on cost-cutting. Intel's revenue of $12.8 billion beat analyst expectations of $11.8 billion, per Bloomberg data, and the chipmaker issued an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. But the company continues to face challenges as it attempts to transform into a chipmaker as well as a chip designer. As Yahoo Finance's Laura Bratton noted in our markets blog, investors focused on Intel's manufacturing roadmap instead of its headline numbers for the quarter. Intel, once a leading global chipmaker, has fallen behind its rivals in both its own products and its attempt to manufacture chips for outside customers. 'This is a multiquarter — realistically, probably multiyear — kind of complete turnaround story before all the benefits start to show up,' TECHnalysis Research president and chief analyst Bob O'Donnell told Yahoo Finance following the report. Intel (INTC) stock fell 9% on Friday after the company reported quarterly results on Thursday that showed it was focused on cost-cutting. Intel's revenue of $12.8 billion beat analyst expectations of $11.8 billion, per Bloomberg data, and the chipmaker issued an upbeat Q3 revenue forecast of between $12.6 billion and $13.6 billion. But the company continues to face challenges as it attempts to transform into a chipmaker as well as a chip designer. As Yahoo Finance's Laura Bratton noted in our markets blog, investors focused on Intel's manufacturing roadmap instead of its headline numbers for the quarter. Intel, once a leading global chipmaker, has fallen behind its rivals in both its own products and its attempt to manufacture chips for outside customers. 'This is a multiquarter — realistically, probably multiyear — kind of complete turnaround story before all the benefits start to show up,' TECHnalysis Research president and chief analyst Bob O'Donnell told Yahoo Finance following the report. Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) reported earnings and revenue that topped analyst expectations on Thursday, and the Samuel Adams brewer maintained its earnings outlook for the year. Profits were $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. SAM stock popped 6% on Friday, as the company also said it expects to see lower tariff costs than previously expected. For the full year, Boston Beer expects tariffs to weigh on costs by about $15 million to $20 million, instead of the $20 million to $30 million it previously modeled. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) reported earnings and revenue that topped analyst expectations on Thursday, and the Samuel Adams brewer maintained its earnings outlook for the year. Profits were $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. SAM stock popped 6% on Friday, as the company also said it expects to see lower tariff costs than previously expected. For the full year, Boston Beer expects tariffs to weigh on costs by about $15 million to $20 million, instead of the $20 million to $30 million it previously modeled. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Charter loses more broadband users in Q2 as competition heats up Charter Communications (CHTR) stock fell 10% premarket Friday after reporting a higher-than-expected fall in broadband subscribers in the second quarter. Reuters reports: Read more here. Charter Communications (CHTR) stock fell 10% premarket Friday after reporting a higher-than-expected fall in broadband subscribers in the second quarter. Reuters reports: Read more here. Puma stock plunges after reporting net loss, with challenges persisting throughout 2025 Puma ( stock plunged 17% after the German sports apparel company lowered its forecast and said it now expects sales to fall by double digits this year. During the second quarter, sales fell everywhere except Latin America and the Middle East, particularly in apparel (-10.7%) and accessories (-6.4%). Footwear sales grew 5.1%, which wasn't enough to offset softness elsewhere. The company swung to a net loss of 241 million euros (roughly $282 million), compared to net income of 41.9 million euros the year before. The sportswear company also noted a hit from tariffs. "Despite ongoing mitigating measures such as supply chain optimization, pricing adjustments and partner collaboration, the U.S. Tariffs are expected to have a mitigated negative impact in 2025 of around € 80 million on gross profit," Puma said in its release. Puma ( stock plunged 17% after the German sports apparel company lowered its forecast and said it now expects sales to fall by double digits this year. During the second quarter, sales fell everywhere except Latin America and the Middle East, particularly in apparel (-10.7%) and accessories (-6.4%). Footwear sales grew 5.1%, which wasn't enough to offset softness elsewhere. The company swung to a net loss of 241 million euros (roughly $282 million), compared to net income of 41.9 million euros the year before. The sportswear company also noted a hit from tariffs. "Despite ongoing mitigating measures such as supply chain optimization, pricing adjustments and partner collaboration, the U.S. Tariffs are expected to have a mitigated negative impact in 2025 of around € 80 million on gross profit," Puma said in its release. Phillips 66 profit beats estimates on higher refining margins Phillips 66 (PSX) stock rose about 1% in premarket trading after the US refiner reported an adjusted profit of $2.38 per share, beating Wall Street EPS estimates of about $1.71. During the quarter, Phillips 66 returned $906 million to shareholders through dividends and share buybacks. Reuters reports: Read more here. Phillips 66 (PSX) stock rose about 1% in premarket trading after the US refiner reported an adjusted profit of $2.38 per share, beating Wall Street EPS estimates of about $1.71. During the quarter, Phillips 66 returned $906 million to shareholders through dividends and share buybacks. Reuters reports: Read more here. Health insurer Centene reports surprise quarterly loss Centene's (CNC) stock fell 12% before the bell on Friday after the health insurance company reported a quarterly loss and warned of a revenue slump from government-backed plans. Read more here. Centene's (CNC) stock fell 12% before the bell on Friday after the health insurance company reported a quarterly loss and warned of a revenue slump from government-backed plans. Read more here. Deckers stock soars after Hoka, Ugg sales surge Hoka sneakers and Ugg brand shoes boosted Deckers (DECK) sales and profits last quarter, sending shares up more than 14% after hours. On Thursday, Deckers reported net sales grew 17% to $964.5 million, above estimates of $901.4 million, per Bloomberg data. Profits surged 24%, with diluted earnings per share coming in at $0.93. "HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026," CEO Stefano Caroti said in a press release. "Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy." The main story for the quarter was Deckers' international business: International net sales rose 49.7%, offsetting a 2.8% decline in domestic sales. The company expects net sales for the current quarter in the range of $1.38 billion to $1.42 billion, in line with analyst estimates. Earnings are expected to be in the range of $1.50 to $1.55 per share. Read more here. Hoka sneakers and Ugg brand shoes boosted Deckers (DECK) sales and profits last quarter, sending shares up more than 14% after hours. On Thursday, Deckers reported net sales grew 17% to $964.5 million, above estimates of $901.4 million, per Bloomberg data. Profits surged 24%, with diluted earnings per share coming in at $0.93. "HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026," CEO Stefano Caroti said in a press release. "Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy." The main story for the quarter was Deckers' international business: International net sales rose 49.7%, offsetting a 2.8% decline in domestic sales. The company expects net sales for the current quarter in the range of $1.38 billion to $1.42 billion, in line with analyst estimates. Earnings are expected to be in the range of $1.50 to $1.55 per share. Read more here. Intel stock rises on Q2 revenue beat, plans to cut 15% of workforce Intel (INTC) second quarter revenue beat analyst estimates, but its earnings fell short of expectations. The chip giant also said it is slashing its workforce by 15% and expects to have approximately 75,000 employees by the end of the year. Intel's new CEO Lip-Bu Tan has already undertaken or is exploring several cost-cutting measures. According to the Oregonian, the company is shuttering its automotive business, outsourcing marketing jobs, and laying off factory workers. Yahoo Finance's Daniel Howley has more details on Intel's results: Read more here. Intel (INTC) second quarter revenue beat analyst estimates, but its earnings fell short of expectations. The chip giant also said it is slashing its workforce by 15% and expects to have approximately 75,000 employees by the end of the year. Intel's new CEO Lip-Bu Tan has already undertaken or is exploring several cost-cutting measures. According to the Oregonian, the company is shuttering its automotive business, outsourcing marketing jobs, and laying off factory workers. Yahoo Finance's Daniel Howley has more details on Intel's results: Read more here. Intel to report Q2 earnings as Wall Street looks for signs of turnaround Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant. Yahoo Finance's Dan Howley details what to expect when Intel reports: Read more here. Intel (INTC) will report its second quarter earnings on Thursday as the company's new CEO, Lip-Bu Tan, continues his attempt to turn around the ailing chip giant. Yahoo Finance's Dan Howley details what to expect when Intel reports: Read more here. Southwest CFO says decision to lower guidance by $1 billion was 'macro-driven' Southwest (LUV) stock tanked on Thursday after the airline's earnings results missed estimates. Shares fell over 12% as the earnings call with investors began. (You can listen to the full call here.) Earlier on Thursday, Southwest CFO Tom Doxey told Yahoo Finance that the company's disappointing results were primarily caused by broader economic challenges, tariff uncertainty, and weaker consumer sentiment. Doxey confirmed that Southwest lowered its full-year pre-tax profit (EBIT) guidance to $600 million-$800 million from the $1.7 billion forecast previously. 'There's an estimate of about $800 million to $1 billion in revenue degradation that has occurred as a result of the macro,' Doxey said. 'The number is large, but it is macro-driven.' He said that Southwest's domestic travel revenue outperformed peers. But the overall domestic segment underperformed international and premium travel, which are the strengths of other airlines like Delta (DAL) and United (UAL). Southwest's second quarter got off to a rocky start as consumer confidence plummeted to a three-year low after President Trump's "Liberation Day" tariff announcement in April. That translated to lower travel demand at the beginning of the peak summer season. However, things are improving, Doxey said. 'Demand fell off quite quickly during that period,' he noted. 'The great news is we're starting to see that stabilize.' Southwest (LUV) stock tanked on Thursday after the airline's earnings results missed estimates. Shares fell over 12% as the earnings call with investors began. (You can listen to the full call here.) Earlier on Thursday, Southwest CFO Tom Doxey told Yahoo Finance that the company's disappointing results were primarily caused by broader economic challenges, tariff uncertainty, and weaker consumer sentiment. Doxey confirmed that Southwest lowered its full-year pre-tax profit (EBIT) guidance to $600 million-$800 million from the $1.7 billion forecast previously. 'There's an estimate of about $800 million to $1 billion in revenue degradation that has occurred as a result of the macro,' Doxey said. 'The number is large, but it is macro-driven.' He said that Southwest's domestic travel revenue outperformed peers. But the overall domestic segment underperformed international and premium travel, which are the strengths of other airlines like Delta (DAL) and United (UAL). Southwest's second quarter got off to a rocky start as consumer confidence plummeted to a three-year low after President Trump's "Liberation Day" tariff announcement in April. That translated to lower travel demand at the beginning of the peak summer season. However, things are improving, Doxey said. 'Demand fell off quite quickly during that period,' he noted. 'The great news is we're starting to see that stabilize.' Blackstone assets under management surge, COO says dealmaking pause 'is behind us' Blackstone (BX) surprised Wall Street analysts on Thursday when it reported its assets under management surged 13% to a record $1.21 trillion. Profits also rose 72% to $764 million, compared to the second quarter of last year, sending shares nearly 5% higher in early trading. Notably, Blackstone's No. 2 echoed other big banks in the company's earnings call in saying that the dealmaking pause is behind us. Yahoo Finance's David Hollerith reports: Read more here. Blackstone (BX) surprised Wall Street analysts on Thursday when it reported its assets under management surged 13% to a record $1.21 trillion. Profits also rose 72% to $764 million, compared to the second quarter of last year, sending shares nearly 5% higher in early trading. Notably, Blackstone's No. 2 echoed other big banks in the company's earnings call in saying that the dealmaking pause is behind us. Yahoo Finance's David Hollerith reports: Read more here. Alphabet in 'AI (beast) mode': 5 takeaways from Google's earnings call Alphabet (GOOG, GOOGL) shares rose in early trading as investor sentiment grew positive on the stock following its bullish earnings call commentary and strong Q2 results. And my colleague Brian Sozzi jotted down some takeaways from the earnings call that help explain the bullish mood today: Sozzi noted that, in many ways, it's surprising that Alphabet stock is up just 1.5% this morning, as it's trading at only 19.3 times forward earnings on a PE basis (S&P 500 is at 24 times). Several Wall Street analysts agreed. "AI (beast) mode — it's time to close the valuation gap," KeyBanc analyst Justin Patterson said. Wedbush analyst Dan Ives added, "We continue see a favorable risk/reward for Alphabet and think there is a case for multiple expansion in the coming quarters as investors gain more comfort around the current macro environment, regulatory risk, and the impact of generative AI on the business." Read more takeaways from Google's earnings call here. Alphabet (GOOG, GOOGL) shares rose in early trading as investor sentiment grew positive on the stock following its bullish earnings call commentary and strong Q2 results. And my colleague Brian Sozzi jotted down some takeaways from the earnings call that help explain the bullish mood today: Sozzi noted that, in many ways, it's surprising that Alphabet stock is up just 1.5% this morning, as it's trading at only 19.3 times forward earnings on a PE basis (S&P 500 is at 24 times). Several Wall Street analysts agreed. "AI (beast) mode — it's time to close the valuation gap," KeyBanc analyst Justin Patterson said. Wedbush analyst Dan Ives added, "We continue see a favorable risk/reward for Alphabet and think there is a case for multiple expansion in the coming quarters as investors gain more comfort around the current macro environment, regulatory risk, and the impact of generative AI on the business." Read more takeaways from Google's earnings call here. Uptick in coal shipments boosts Union Pacific earnings Union Pacific (UNP) second quarter profits exceeded Wall Street's expectations, driven by operational improvements, higher freight volumes, and improved pricing. The stock fell 2% ahead of the opening bell Thursday. The economic bellwether saw an uptick in coal shipment volumes in the second quarter, as well as in shipments of grain products and industrial chemicals. The improvement in coal shipments stood out after President Trump signed executive orders boosting the industry, which has been a weak spot for railroad operators. Union Pacific confirmed that it is in talks with Norfolk Southern (NSC) on a possible merger that would reshape the US's railroad industry. The magnitude of a combination of the railroad operators would put the deal under close regulatory and antitrust scrutiny. Here's what Union Pacific reported in Q2, per Reuters: Read more here. Union Pacific (UNP) second quarter profits exceeded Wall Street's expectations, driven by operational improvements, higher freight volumes, and improved pricing. The stock fell 2% ahead of the opening bell Thursday. The economic bellwether saw an uptick in coal shipment volumes in the second quarter, as well as in shipments of grain products and industrial chemicals. The improvement in coal shipments stood out after President Trump signed executive orders boosting the industry, which has been a weak spot for railroad operators. Union Pacific confirmed that it is in talks with Norfolk Southern (NSC) on a possible merger that would reshape the US's railroad industry. The magnitude of a combination of the railroad operators would put the deal under close regulatory and antitrust scrutiny. Here's what Union Pacific reported in Q2, per Reuters: Read more here. American Airlines restores 2025 forecast, flags economic worries for keeping it broad American Airlines (AAL) maintained a broad 2025 forecast on Thursday, citing economic uncertainty, with one of the outcomes being a loss to profit. The carrier's shares fell 6% before the bell. The airline is facing challenges in the domestic travel market, where travel spending remains weak due to US tariffs and budget cuts. Reuters reports: Read more here. American Airlines (AAL) maintained a broad 2025 forecast on Thursday, citing economic uncertainty, with one of the outcomes being a loss to profit. The carrier's shares fell 6% before the bell. The airline is facing challenges in the domestic travel market, where travel spending remains weak due to US tariffs and budget cuts. Reuters reports: Read more here. Honeywell beats on earnings, raises 2025 forecasts on sustained demand for aerospace parts, services Honeywell (HON) stock fell premarket despite reporting an earnings beat and guidance raise. Adjusted earnings per share of $2.75 exceeded Wall Street's estimates of $2.66 per share. Sales hit the top end of the company's guidance at $10.4 billion, compared to estimates of $10.1 billion. Strong demand for aerospace parts and maintenance services lifted Honeywell's results as it prepares to split into three companies. The company's aerospace division, its biggest revenue generator, posted a 10.7% jump in sales to $4.31 billion in the second quarter, as the Boeing (BA) and Airbus ( supplier benefited from rising demand and a shortage of new jets. Honeywell raised its revenue outlook and now expects between $40.8 billion and $41.3 billion for the year, up from the $39.6 billion and $40.5 billion it had previously forecast. It also sees 2025 adjusted profit per share between $10.45 and $10.65, up from its previous forecast of $10.20 to $10.50. Read more here from Reuters. Honeywell (HON) stock fell premarket despite reporting an earnings beat and guidance raise. Adjusted earnings per share of $2.75 exceeded Wall Street's estimates of $2.66 per share. Sales hit the top end of the company's guidance at $10.4 billion, compared to estimates of $10.1 billion. Strong demand for aerospace parts and maintenance services lifted Honeywell's results as it prepares to split into three companies. The company's aerospace division, its biggest revenue generator, posted a 10.7% jump in sales to $4.31 billion in the second quarter, as the Boeing (BA) and Airbus ( supplier benefited from rising demand and a shortage of new jets. Honeywell raised its revenue outlook and now expects between $40.8 billion and $41.3 billion for the year, up from the $39.6 billion and $40.5 billion it had previously forecast. It also sees 2025 adjusted profit per share between $10.45 and $10.65, up from its previous forecast of $10.20 to $10.50. Read more here from Reuters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
