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Disney tells Venezuelans on TPS: Find a new legal way to work or you're out of a job

Disney tells Venezuelans on TPS: Find a new legal way to work or you're out of a job

Yahoo22-05-2025
The Walt Disney Company has notified dozens of Venezuelan employees they might lose their jobs after the Supreme Court ruled Monday that the Trump administration could end their deportation protections and work permits under Temporary Protected Status.
The corporation, which is celebrating its 70th anniversary, placed approximately 45 of 'cast members' — as Disney refers to its employees — on unpaid leave, according to emails provided to the Miami Herald. The correspondence also informed the workers. that they would be dismissed after 30 days if they do not get alternative work authorization.
'I am very distressed,' one woman in her late 40s who works at Disney World in Orlando told the Miami Herald. 'We have bills, we just renewed our apartment lease, my son goes to college.'
She asked to remain anonymous out of fear that speaking publicly could jeopardize her chances of returning to her job or lead to retaliation.
In a statement, a Disney spokesperson told the Herald it 'had placed the affected employees on leave with benefits to ensure they are not in violation of the law.'
'We are committed to protecting the health, safety, and well-being of all our employees who may be navigating changing immigration policies and how they could impact them or their families,' said the spokesperson.
It is unclear how many affected Venezuelan employees were located in Florida, but the Miami Herald talked to some in Orlando, where Disney's flagship park is located.
The Department of Homeland Security has not yet published an official termination of Venezuela's TPS under the 2023 designation, which covers about 350,000 people. The admnistration has not rescinded a separate designation from 2021, which covers some 257,000 people and expires in September.
DHS has already acknowledged on its websites the Supreme Court decision revoking a lower court judge's order to keep the TPS protections for Venezuelans in place. The lower court judge's order is part of an ongoing lawsuit in San Francisco stemming from DHS' decision to end TPS for Venezuelans under the 2023 designation.
READ MORE: Supreme Court ruling on TPS stuns South Florida, leaves Venezuelan families in fear
The Disney employees received calls and emails a day after the Supreme Court order. It explained that as of Tuesday, 'due to the unique situation,' they were on a 30-day unpaid leave of absence, said the email sent to Venezuelan employees.
'If you have not provided new valid work authorization at the end of the leave, your employment will be terminated,' reads the email sent a day before Homeland Security updated its decision, which hasn't provided any public guidelines to employers of TPS recipients.
It is unlikely that the 45 Venezuelans affected will be able to obtain another legal way to work in that time, even if they have another pending immigration process.
While many Venezuelans with TPS have applied for political asylum, which can provide up to five years of work authorization, not all have pursued that option, leaving many without a clear path to remain employed legally.
Two of the affected employees were family members who said it will now be a struggle to keep their home and meet basic living expenses. A woman in her 40s who worked at a Disney Resort and a man in his 20s employed at one of the Disney Parks are among those recently terminated.
The woman said she and her oldest son hold work permits under the 2023 TPS designation. Unlike many others, however, they also remain legally in the U.S. under a separate visa linked to her husband's employment. However, that visa does not provide them with work authorization.
'A family of five can't live on just one person's salary,' she said.
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Trading Day: Stagflation-ISM
Trading Day: Stagflation-ISM

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Trading Day: Stagflation-ISM

By Jamie McGeever ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Wall Street bucked the positive global equity trend and closed mostly lower on Tuesday, as U.S. service sector data rekindled stagflation fears and shined a light on the difficult position the Federal Reserve may find itself in next month. More on that below. In my column today I look at the tumult of the last few days that has seen the worlds of U.S. politics, policy, and company earnings collide, exposing the big divergences that run through the country's equity and bond markets. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. 1. Trump rules out Bessent for Fed chair 2. Easy to lose, hard to restore: US data trust on the line 3. EU still expects turbulence in trade relations with US 4. Markets struggle to price smoke and mirrors: Mike Dolan 5. Brazil's economy ready to ride out Trump's 50% tariff Today's Key Market Moves * FX: Dollar index is flat. The yen is the big mover inG10 FX, slipping around 0.3% vs dollar and euro. * STOCKS: S&P 500, Nasdaq and Dow fall, Russell 2000rises. Benchmark Asian, Chinese, European, emerging indexes allrise. * SHARES/SECTORS: Seven S&P 500 sectors fall, led byutilities -1%; materials index +0.8%. Palantir shares +7.8%. * BONDS: U.S. yields creep higher, up 4 bps at the shortend, flattening the curve. 3-year auction is on the weak side. * COMMODITIES: Oil falls 1.7%, Brent crude futures hit afive-week low of $67.52/bbl. WTI nudges $65/bbl. Stagflation-ISM The stagflation red flags raised by U.S. service sector activity figures on Tuesday are a reminder that the world's largest economy and most important central bank face significant challenges in the months ahead. Investors took their cue more from the bubbling price pressures in the ISM services report than the signs of softening activity. Treasury yields crept up and rate cut expectations were trimmed as a result. Still, it's a curious one. Wall Street's slump on Friday went hand in glove with plunging yields and a dramatic surge in rate cut bets. Today, a hawkish tilt in the bond and rates futures markets was accompanied by a broad-based equity selloff. There are other factors at play, not least the barrage of Q2 earnings, tariff headlines, and a renewed spike in policy uncertainty. But these moves are a reminder that there can be good and bad reasons driving yields up or down, and that the correlation with stocks can flip from one day to the next. The ISM report showed service sector activity in June flatlined while the prices paid index rose to its highest in nearly three years. Tariffs, inflation pressures, growth fears are all in the mix. Contrast this with China's services activity data released on Tuesday, which showed the fastest pace of expansion in July in 14 months. U.S. corporate earnings have generally been strong. Of the 330 companies in the S&P 500 that had reported through last Friday, 80.6% reported consensus-beating profits, compared with the long-term average of 67.1%, according to LSEG data. But Caterpillar warned on Tuesday that tariffs pose significant challenges and could cost the firm up to $1.5 billion this year. Meanwhile, U.S. President Donald Trump told CNBC on Tuesday that he will not nominate Treasury Secretary Scott Bessent for a position on the Fed's Board of Governors, thus ruling him out as a candidate for Fed chair. Trump said he will announce Governor Adriana Kugler's replacement "very shortly." Trump also said the U.S. is "very close" to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement is struck. Looking ahead to Wednesday, there are two highlights in the Asian calendar for investors to home in on - the latest Chinese trade figures, and an interest rate decision from the Reserve Bank of India. The RBI is expected to keep its benchmark repo rate on hold at 5.50%. But in light of the steep tariffs recently imposed on Indian exports by the U.S., traders are putting a near one-in-six chance of a rate cut. Likely RBI intervention on Tuesday kept the rupee from hitting new lows through 88.00 per dollar. China's trade figures, meanwhile, will be closely watched after official U.S. data on Tuesday showed America's trade deficit with its Asian rival shrank in June to its lowest in more than 21 years. In light of the contrasting PMI figures on Tuesday, this will be worth keeping an eye on. Navigating US markets' split personalities During an extraordinary few days when the worlds of U.S. politics, policy, economics and company earnings collided, the divergences that run through the country's equity and bond markets have come into sharp relief. For the bond market, the split separates short-dated Treasuries that price off the Fed's policy rate and longer maturities that are more sensitive to U.S. debt and deficit concerns. For the benchmark S&P 500, that line is between the 'Magnificent Seven', along with a few other tech and artificial intelligence-focused megacaps, and everyone else. These types of divides have always existed to some extent, but they have become more apparent this year given the historic concentration on Wall Street and rapid deterioration in the U.S. fiscal outlook. The dramatic moves in U.S. assets over the last few days serve as a microcosm of these deeper divergences. LONG AND SHORT OF IT The split in the bond market burst open on Friday. Triggered by surprisingly weak jobs figures and Trump's shock decision to fire a senior official in the agency responsible for collecting the data, the two-year Treasury yield plunged 25 basis points and the 2s/30s yield curve steepened by 20 basis points. These were the biggest moves in one year and two and a half years, respectively. The slump in yields, especially at the short end of the curve, indicates that investors' supposed concerns about fiscal indiscipline quickly evaporate as soon as growth-sapping cracks in the labor market appear. So much for the bond vigilantes. Tellingly, there was no pullback on Monday. Indeed, Treasury prices climbed even higher, pushing the two-year yield as low as 3.66%, its nadir since May. Long-dated yields have declined too, but not as aggressively, resulting in Friday's dramatic steepening of the 2s/30s curve to levels that, with the exception of April's brief tariff tantrum, haven't been seen for more than three years. Investors may wince at the size of the federal debt and the Treasury's funding needs but still want to load up on two-year bonds when they think rate cuts are coming. This parallel thinking isn't new, but the stark difference in the narratives driving the front and back ends of the curve is notable. STAY NIMBLE The U.S. equity market concentration story is familiar to everyone by now, but the last few days underscore how jaw-dropping - and seemingly entrenched - it is. Blockbuster earnings reports from 'Mag 7' constituents Meta, Microsoft and Apple juiced another wave of outperformance in Big Tech stocks, reviving debate about concentration risk, bubbles and the long-term benefits of AI. By some measures, a few Big Tech firms now account for as much as 40% of the total U.S. stock market cap. Tech is more expensive relative to the broader S&P 500 index than ever, even compared to the dotcom bubble, according to Bank of America. Wall Street's average valuations and earnings growth are therefore increasingly being driven by Big Tech. Strip out the top 10 firms, and the rump S&P 490 has barely registered any earnings growth in the last three years, according to SocGen's Andrew Lapthorne. Again, there are multiple narratives at work here. It may be true that overseas investors want to reduce their U.S. equity exposure, but don't want to miss out on the Big Tech boom. So even if foreign investors start shedding some U.S. assets – and that's debatable – they aren't apt to be jettisoning the likes of Nvidia and Microsoft. This is a delicate juncture for investors. Wall Street is at record highs, but concentration risk has also rarely been higher. The outlook for long-dated bonds is worrying given current fiscal and inflation dynamics, yet the short end looks much more attractive, though even that is complicated by the economic and unique political pressures bearing down on the Fed. The divergences in U.S. markets may narrow, gradually or suddenly, or they may continue unabated for some time. Without a crystal ball, it's tough to know exactly what the catalyst for mean reversion would be. One thing is likely guaranteed though: in this environment, it will pay to be nimble. What could move markets tomorrow? * China trade (July) * India interest rate decision * Taiwan inflation (July) * UK PMI (July) * Germany industrial production (June) * Euro zone retail sales (June) * U.S. Treasury auctions $42 bln of 10-year notes * U.S. earnings including McDonald's, Disney, Uber, DoorDash * U.S. Fed officials speak: Governor Lisa Cook and BostonFed President Susan Collins at the same event; San Francisco FedPresident Mary Daly Want to receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Jamie McGeever; Editing by Bill Berkrot) 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

Earnings live: AMD, Rivian, Lucid, Snap, and Super Micro Computer stocks fall after quarterly results
Earnings live: AMD, Rivian, Lucid, Snap, and Super Micro Computer stocks fall after quarterly results

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Earnings live: AMD, Rivian, Lucid, Snap, and Super Micro Computer stocks fall after quarterly results

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 hear from Tyson (TSN), AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), Palantir (PLTR), and more when they report results. Data from FactSet published Friday showed that with 66% of the index having reported results, analysts expect S&P 500 companies to report a 10.3% 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. Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Marriott cuts 2025 revenue forecast on soft travel demand Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Pfizer beats Q2 earnings estimates, reaffirms 2025 outlook Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Mazda forecasts nearly $1 billion profit hit from US tariffs Reuters reports: Read more here. BP vows to do better for investors as profit tops forecast Reuters reports: Read more here. Diageo delivers on annual forecasts, shares jump Reuters reports: Read more here. Dan Ives: Palantir's 'transformational' quarter paves way for $1 trillion market cap Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Hims & Hers stock tumbles on revenue miss Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Palantir stock surges after company reports first billion-dollar quarter Yahoo Finance's Jake Conley reports: Read more here. Post-earnings stock moves are more volatile than usual this quarter We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. BioNTech shares rise 4% on better-than-expected earnings US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Marriott cuts 2025 revenue forecast on soft travel demand Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Pfizer beats Q2 earnings estimates, reaffirms 2025 outlook Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Mazda forecasts nearly $1 billion profit hit from US tariffs Reuters reports: Read more here. Reuters reports: Read more here. BP vows to do better for investors as profit tops forecast Reuters reports: Read more here. Reuters reports: Read more here. Diageo delivers on annual forecasts, shares jump Reuters reports: Read more here. Reuters reports: Read more here. Dan Ives: Palantir's 'transformational' quarter paves way for $1 trillion market cap Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Hims & Hers stock tumbles on revenue miss Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Palantir stock surges after company reports first billion-dollar quarter Yahoo Finance's Jake Conley reports: Read more here. Yahoo Finance's Jake Conley reports: Read more here. Post-earnings stock moves are more volatile than usual this quarter We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. BioNTech shares rise 4% on better-than-expected earnings US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." 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

School districts hire consultants to recruit students as they face enrollment crisis: report
School districts hire consultants to recruit students as they face enrollment crisis: report

Fox News

time40 minutes ago

  • Fox News

School districts hire consultants to recruit students as they face enrollment crisis: report

School districts struggling with enrollment loss are hiring consultants to recruit students, as parents are choosing alternatives to public schools — including homeschooling and private schools — according to a new report. The New York Times reported Tuesday that schools in "Orlando, Newark, Memphis and dozens of other cities and towns have hired consultants who aggressively woo parents to convince them to enroll their children in local public schools." "Brian J. Stephens has built a business around this new reality. Mr. Stephens, a political consultant based in Memphis, runs Caissa K12, a consulting firm for public school districts with the tag line 'We recruit students,'" the report added. Public schools lose financial support when students choose alternative education options because per-pupil enrollment figures often determine state and federal funding. According to the Times, some districts are considering consolidating and rezoning schools. Orange County, Florida, which has projected a 25 percent drop in district kindergarten enrollment this fall, enlisted Caissa K12's services to help it recruit back families tempted by other options. The firm amassed over 100 district clients, the Times reported. The authors cited federal data showing that two-thirds of traditional public schools lost enrollment between 2019-2023. Fox News Digital previously reported on several other states following Arizona in passing universal school choice legislation, responding to the trend of parents seeking alternative options to traditional public schools. The legislation is introducing competition into the education landscape as parents have options outside the neighborhood school their child is zoned for, placing challenges on school districts that are struggling to retain students. Stephens, the lead architect of recruitment strategies for public schools, told the Times that school districts must prove to parents that they are better than alternative education models such as homeschooling and private schools. "The monopoly is over," Stephens told the Times. Caissa K12's recruitment efforts entail setting up canvassers across Orange County to speak to parents. Their staff urge parents to visit public schools and address any "misconceptions about the superiority of private education." "Caroline Christian, a 25-year-old with a degree in marketing, set up a table at a Boys and Girls Club after-school program. Destiny Arnold, a former police officer, looked for garden apartments with children's bikes parked out front. The team also visited a homeless shelter and a church preschool," the Times reported. The report went on to say, "They gave parents fliers advertising the district's arts and career-education programs. They also asked parents for their phone numbers. Caissa staff members, who can earn performance bonuses, might contact a parent 10, 20, even 30 times to prompt them to complete school-enrollment paperwork." There has been an uptick in parents choosing to homeschool their children since the coronavirus pandemic, indicating a growing trend of parents overlooking public schools. While microschools are not a new concept, they operate similarly to homeschooling. After Arizona launched its $800 million universal school choice program giving parents $7,000 to put toward their child's education expenses, Tucson Unified School District has reportedly recently faced financial and enrollment struggles — citing losses of $20 million as parents overlooked the district. The Trump administration instituted a federal tax credit scholarship, giving individuals all across the country an opportunity to support school choice programs within their state, circumventing anti-school choice measures. School choice advocate, Corey DeAngelis of the American Culture Project, told Fox News Digital that "this new recruitment strategy by the public school system shows that school choice works." "The school system actually has to compete for its customers now that families can vote with their feet," he said. "School choice is just the beginning. It's time to give teachers unions the same incentive to shift their focus towards the basics as opposed to political agendas. Teachers in every state can now opt out of their union dues and get free liability insurance by joining the Teacher Freedom Alliance."

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