A Massive Dam in Tibet Will Do More for China's GDP Than for Its Power Supplies
China is embarking on one of the biggest and most expensive infrastructure projects in history to provide more clean power to its grid. But the more meaningful impact, at least in the short term, may be the way it props up an ailing economy.
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Yahoo
24 minutes ago
- Yahoo
SergeFerrari Group: Revenue of €178.7 Million in the First Half of 2025
Continued sales momentum in the 2nd quarter of 2025 Growth exceeds 10% in the first six months of 2025 SAINT-JEAN-DE-SOUDAIN, France, July 29, 2025--(BUSINESS WIRE)--Regulatory News: SergeFerrari Group (FR0011950682 – SEFER), SergeFerrari Group (FR0011950682 - SEFER), a leading global supplier of innovative flexible composite materials, listed on Euronext Paris – Compartment C, today announced its revenues for the first half of 2025. Breakdown of sales by geographic area (unaudited) (€ thousands) 2ndquarter2025 2ndquarter2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates H1 2025 H1 2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates Europe 69,068 66,730 +3.5% +3.2% 128,589 120,519 +6.7% +6.5% Americas 14,979 8,325 +79.9% +86.4% 23,399 16,003 +46.2% +48.7% Asia – Africa – Pacific 15,512 13,387 +15.9% +16.0% 26,743 25,382 +5.4% +5.4% Total revenues 99,558 88,442 +12.6% +13.0% 178,731 161,904 +10.4% +10.5% Sébastien Baril, SergeFerrari Group's chairman of the Executive Board, stated: "Signs of improvement in our historic markets are gradually materializing. Serge Ferrari recorded an increase in revenues of over 10% in the first half of the year. This performance encourages us to continue our efforts to increase our operating leverage, our customer service and the flexibility of our cost structure in an environment where adaptability and responsiveness remain key." Q2 2025 activity The Group reported revenue of €99.6 million in the 2nd quarter of 2025, up 12.6% on a current scope and exchange rate basis, and up 13.0% on a constant scope and exchange rate basis compared with the same period last year. This change is due to: A currency effect of -0.4 %; A volume effect of -3.0%, due mainly to a fall in volumes of modular structures, for which the end markets are declining; A favorable price-mix effect of +16.0%, driven by a confirmed recovery in activities that have traditionally been profitable for the Group, such as Solar Protection and the new Solutions business lines, as well as the impact of price increases introduced to mitigate the negative effect of high inflation on certain raw materials. H1 2025 activity The Group posted sales of €178.7 million in the first half of 2025, up by more than 10% on both current and constant scopes and exchange rates. Half-year sales trends by geographical region are as follows: Europe posted solid revenue growth of 6.7% on a current scope and exchange rate basis and 6.5% on a constant scope and exchange rate basis, with sales of almost €129 million over the period, thanks to historic markets that remain well oriented. After a difficult 2024 exercise in North American markets, sales in the Americas rebounded strongly in the first half. Growth accelerated sharply between the 1st and 2nd quarters, taking half-year sales up to €23.4 million, representing growth at constant scope and exchanges rates of +49%. Sales in the Asia-Africa-Pacific region were up 5.4% on H1 2024, both on a current and constant scope and exchange rates basis, due to good momentum in the various markets. Outlook Based on a seasonal history between the first (driven by solar protection activity and tense architecture) and the second half of the fiscal year, the group will focus (despite an uncertain context, particularly on the geopolitical level) on maintaining its trajectory initiated with Transform 2025 that aims at increasing its adaptability and profitability. Financier calendar Publication of first half 2025 results on September 10, 2025, after market close. ABOUT SERGEFERRARI GROUP The Serge Ferrari Group is a leading global supplier of composite materials for Tensile Architecture, Modular Structures, Solar Protection and Furniture/Marine, in a global market estimated by the Company at around €6 billion. The unique characteristics of these products enable applications that meet the major technical and societal challenges: energy-efficient buildings, energy management, performance and durability of materials, concern for comfort and safety together, opening up of interior living spaces etc. Its main competitive advantage is based on the implementation of differentiating proprietary technologies and know-how. The Group has manufacturing facilities in France, Switzerland, Germany, Italy and Asia. Serge Ferrari operates in 80 countries via subsidiaries, sales offices and a worldwide network of over 100 independent distributors. At the end of 2024, SergeFerrari Group posted consolidated revenues of €323.6 million, more than 80% of which was generated outside France. SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). SergeFerrari Group shares are eligible for the PEA-PME and FCPI investment schemes. View source version on Contacts Valentin Chefson Head of Relations Investisseursinvestor@ NewCap Investor Relations – Financial Communication Théo MartinTel. : 01 44 71 94 94sferrari@
Forbes
2 hours ago
- Forbes
China Market Update: WuXi Apptec Doubles Profit, Childcare Stimulus Launched
CLN Asian equities were mixed overnight as Mainland China's STAR Market and Thailand outperformed, while Vietnam and Pakistan underperformed. Trade representatives from the US and China completed two days of talks that had the expressed purpose of extending the August 1st deadline for a trade deal. Most analysts are saying that a 90-day extension is likely. The global economy has weathered the tariffs better than expected so far, though it is important to remember the level of exemptions granted to key product areas, especially for China. We need a deal, but the negotiators are taking their time, which will hopefully result in the best possible outcome. Fingers crossed! Recent outperformers were sold off today, except for health care. Viral Labubu doll-maker Pop Mart was net sold by Mainland investors via Southbound Stock Connect, who likely took profits in the name. Meanwhile, insurance companies were also sold off following a strong rally yesterday on lower interest rate guidance for insurance contracts. Internet stocks were mostly lower as we head into earnings season next month. However, some price targets for video platform Kuaishou were raised, though the stock was down overnight. WuXi Apptec indicated that its net profit for the first half 2025 more than doubled. The stock was up +11.25% in Hong Kong overnight. WuXi Apptec has seen significant tailwinds this year, along with its co-named peer WuXi Biologics. These include the removal of an extreme geopolitical overhang on Wuxi Biologics and Apptec: the proposed BIOSECURE Act, which would have barred it from working with US entities receiving federal medicare and medicaid dollars. It is estimated that one-third of all the drugs on the US market today passed through China-based contract research labs, such as WuXi Apptec and Biologics. They are based in China but have facilities all over the world, including in the United States. China committed new capital to increasing the birth rate. The government will now allocate RMB 3,600 annually for families with children under three. Related stocks cheered the news. Does this count as additional stimulus for consumption? Indirectly, yes. The lack of a social safety net and deflation are the primary reasons China's consumers hesitate to increase spending significantly. New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
Yahoo
2 hours ago
- Yahoo
Stock market today: S&P 500, Nasdaq rise as earnings flood in and focus turns to the Fed
US stocks moved higher on Tuesday, eyeing a bid for more records as investors combed through a fresh rush of corporate earnings and waited for key economic data in a big week on Wall Street. The S&P 500 (^GSPC) rose 0.2% on the heels of narrowly notching a sixth all-time closing high in a row, while the tech-heavy Nasdaq Composite (^IXIC) led the way higher with a 0.4% gain. The Dow Jones Industrial Average (^DJI) was roughly flat. The mood is modestly upbeat as a blockbuster week for markets gets into full swing, as the Federal Reserve kicks off its two-day policy meeting on Tuesday. Meanwhile, the JOLTS job openings update for June due later ushers in a string of labor data crucial to interest-rate bets, culminating in Friday's nonfarm payrolls report. For now, earnings take center stage after Boeing's (BA) quarterly results topped expectations, lifting shares in the world's largest planemaker. But second quarter reports from Spotify (SPOT), Merck (MRK), and UnitedHealth (UNH) disappointed Wall Street. Read more: Full earnings coverage in our live blog After the bell, Starbucks (SBUX) earnings will be watched for signs of turnaround progress. Tuesday's earnings help set the tone for this week's highly anticipated reports from Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Meta (META). Also looming large is President Trump's deadline Friday for trading partners to strike deals or face blanket tariff rates. Hopes for an extension to the US-China trade truce are buoying the likes of AI chipmaker Nvidia's (NVDA) stock. Read more: The latest on Trump's tariffs Commerce Department data out Tuesday showed the US goods trade deficit hit a 2-year low in June, as imports tumbled and businesses looked to get ahead of tariffs. Also on the economic docket are the Conference Board's July reading on consumer confidence and a S&P CoreLogic print on home prices. Consumer confidence ticks higher in July but job concerns persist Consumer confidence saw an uptick in July with many Americans adjusting their expectations following the rebound from the tariff lows triggered by President Trump's Liberation Day announcements. However, confidence still lags behind the elevated levels observed last year, according to new data released Tuesday morning. The Conference Board's Consumer Confidence Index for July rose to 97.2, surpassing both June's revised figure of 95.2 and the 96.0 reading anticipated by economists. "In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence," Stephanie Guichard, senior economist of global indicators at The Conference Board, said in the release. The "Present Situation Index," which measures consumers' assessment of current business and labor market conditions, fell 1.5 points to 131.5 in July. The "Expectations Index," which tracks consumers' short-term outlook for income, business, and labor market conditions, rose to 74.4 in February from 69.9 last month. Historically, a reading below 80 in that category signals a recession in the coming year. Notably, Americans' appraisal of current job availability weakened for the seventh consecutive month, reaching its lowest point since March 2021. In July, 18.9% of consumers reported that jobs were hard to get, up from 14.5% in January. According to Guichard, consumers' write-in responses also highlighted that tariffs remained a significant concern, with many associating them with fears of rising prices. References to high prices and inflation also increased in July, even as consumers' average 12-month inflation expectations eased slightly to 5.8%, down from 5.9% in June and a peak of 7% in April. Job openings slide in June, as hiring rate hits 7-month low Job openings declined in June while hiring also decreased, according to government data released Tuesday. The report comes as investors closely watch for any signs of slowing in the labor market amid a debate over when the Federal Reserve could cut interest rates again. New data from the Bureau of Labor Statistics showed 7.44 million jobs open at the end of June, a decrease from the 7.71 million seen the month prior. May's report had showed the highest number of job openings since November 2024. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.2 million hires were made during the month, down from the 5.47 million made during May. The hiring rate ticked lower to 3.3% from the 3.4% seen the month prior and stood at its lowest level since November 2024. In one sign that workers remain cautious about labor market conditions, the quits rate, a sign of confidence among workers, hovered at 2%. Both the hiring and quits rates are hovering near decade lows, reflecting what economists have described as a labor market in "stasis." Royal Caribbean lifts annual profit forecast on steady cruise demand Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. P&G dips as it warns of $1 billion tariff hit Procter & Gamble (PG) stock dipped about 1%, reversing a slight premarket gain, as the company took a cautious approach with its financial outlook while it navigates uncertain consumer sentiment and Trump's tariffs. Yahoo Finance's Brian Sozzi reports: Read the full story here. Tech leads stocks higher at the open The tech-heavy Nasdaq Composite (^IXIC) led US stocks higher at the open on Tuesday morning with a 0.5% gain. Meanwhile, the S&P 500 (^GSPC) rose 0.2% on the heels of notching a sixth all-time closing high in a row on Monday. The Dow Jones Industrial Average (^DJI) opened roughly flat. Investors are digesting a wave of earnings reports and US trade data showing a sharp narrowing in the deficit (as tariffs loom). Meanwhile, they are looking ahead to the JOLTS job openings update for June at 10 a.m. ET. for labor market insight. Major drugmakers mixed amid earnings Of the notable drugmakers reporting earnings Tuesday, AstraZeneca rose almost 2% and Merck fell nearly 4% before the market open. British drugmaker AstraZeneca reported second quarter revenue ahead of expectations Tuesday, with its cancer drugs helping fuel sales for the period. Meanwhile, fellow pharma giant Merck reported earnings below Wall Street's projections, according to Bloomberg consensus data, and revenue from its HPV vaccine Gardasil was also less than expected amid continued headwinds in China. Investors are also bracing for patents for its drug Keytruda (which accounted for roughly half of its second quarter revenue) to expire in 2028. Also on Tuesday, Danish drugmaker Novo Nordisk (NVO) plummeted roughly 20%. The firm cut its 2025 revenue and profit outlook, pointing to lower than expected sales growth of its obesity drug Wegovy in the US, ahead of its second quarter earnings results slated for Aug. 6. Trump's DOJ puts companies on notice: Don't evade tariffs The Justice Department is putting American companies on notice that they could be prosecuted if they chose to evade President Trump's tariffs, even as the legality of the president's "Liberation Day" duties remain unsettled in US courts. Yahoo Finance's Alexis Keenan reports: Read more here. Nvidia leads Mag 7 higher on sign of 'enormous pent-up demand' from China Nvidia (NVDA) led the Big Tech "Magnificent Seven" stocks higher on Tuesday before the market open, climbing 1.4%. The gain came after Reuters reported that the AI chipmaker had ordered 300,000 H20 chips from its contract manufacturer TSMC. "This supports our theory that there is enormous pent-up demand for NVDA chips from China right now," Hedgeye Risk Management analyst Felix Wang wrote in a note to clients. Meanwhile, Microsoft (MSFT), Meta (META), and Amazon (AMZN) rose fractionally ahead of their quarterly earnings reports later this week. Apple (AAPL), Google (GOOG), and Tesla (TSLA) traded down less than 1%. Good morning. Here's what's happening today. Economic data: S&P CoreLogic 20-city home price index (May); Conference Board consumer confidence, July; Job Openings and Labor Turnover Survey (June); Dallas Fed services activity (July) Earnings: 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) Here are some of the biggest stories you may have missed overnight and early this morning: The market is finally getting what it wants 35 charts explain markets and the economy right now UnitedHealth stock falls after reporting mixed Q2 earnings Sarepta stock soars as FDA reverses course on gene therapy pause Spotify stock slides after Q2 earnings and revenue miss Trump's DOJ puts companies on notice on tariffs US, EU rush to clinch final details and lock in trade deal Apple to Shutter a Retail Store in China for the First Time Ever Stellantis faces $1.7B hit from US tariffs this year Trending tickers: UPS, Whilepool and Royal Caribbean Here are some top stocks trending on Yahoo Finance in premarket trading: UPS (UPS) stock fell over 2% before the bell on Tuesday after reporting a drop in second-quarter profit and revenue, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies. Whirlpool (WHR) stock fell premarket on Tuesday. after the appliance maker slashed its earnings outlook the day prior. Royal Caribbean (RCL) stock rose 4% before the bell after raising its annual profit forecast on Tuesday, banking on resilient demand for the cruise operator's high-end private island destinations and premium sailings. The market is finally getting what it wants Wall Street's busiest week of the summer is turning out to be an inflection point. Yahoo Finance's Hamza Shaban explains why in today's Morning Brief: Read more here. Spotify stock sinks after Q2 earnings miss Spotify (SPOT) shares fell as much as 10% in early premarket trading Tuesday after the company missed second quarter earnings and revenue expectations. The results follow a remarkable 120% rally over the past year, as the stock rebounded from 2022 lows on the back of price hikes, cost cuts, and investor enthusiasm for AI and advertising. Spotify hit a record high of $738.45 earlier this month, but shares slid to around $635 immediately following the results. Spotify reported second quarter revenue of €4.19 billion ($4.86 billion), missing analyst expectations of €4.27 billion, though up from €3.81 billion in the same period last year. The company posted an adjusted loss of €0.42 ($0.49) per share, sharply missing forecasts for a profit of €1.97 and down from earnings of €1.33 in Q2 2024. "Outsized currency movements during the quarter impacted reported revenue by €104 million vs. guidance," the company said in the earnings release. Operating income also fell short of expectations in the quarter, though subscriber metrics for both premium and ad-supported tiers came in ahead of estimates. Gross margins of 31.5% came in as expected. Spotify's massive rally heading into the earnings report was fueled by a sweeping business overhaul, including layoffs, leadership changes, and a pullback from costly podcast exclusivity. After spending $1 billion to build out its podcast business, the company has since scaled back and narrowed its focus. Still, it remains committed to the medium, paying over $100 million to creators in Q1 alone, including high-profile names like Joe Rogan and Alex Cooper. Read more here. UnitedHealth stock slips after mixed Q2 results Shares of UnitedHealth Group (UNH) fell nearly 3% after its quarterly results before the bell painted a mixed picture. Yahoo Finance's Anjalee Khemlani reports: Read more here. Sarepta stock rockets higher after FDA greenlight Shares in drugmaker Sarepta (SRPT) rocketed up over 30% in premarket after the embattled company got the FDA's go-ahead to resume shipments of its Elevdis gene therapy. The greenlight comes after Sarepta put a voluntary pause on shipments for some patients while the US regulator reviewed its safety following deaths. The FDA on Monday recommended that the compa lift that halt. Sarepta's stock is poised to build on a 16% gain on Monday, continuing a recent volatile spell triggered by changing fortunes for its best-selling product. AP reports: Read more here. Nvidia orders 300,000 H20 chips from TSMC to satiate Chinese demand Reuters reports: Nvidia placed orders for 300,000 H20 chipsets with contract manufacturer TSMC last week, two sources said, with one of them adding that strong Chinese demand had led the U.S. firm to change its mind about just relying on its existing stockpile. Read more here. Oil maintains gains with tariffs and OPEC+ supply in sight Oil maintained gains following Trump putting pressure on Russia over the war in Ukraine with economic sanctions against Putin's government on the table. Bloomberg reports: Read more here. Consumer confidence ticks higher in July but job concerns persist Consumer confidence saw an uptick in July with many Americans adjusting their expectations following the rebound from the tariff lows triggered by President Trump's Liberation Day announcements. However, confidence still lags behind the elevated levels observed last year, according to new data released Tuesday morning. The Conference Board's Consumer Confidence Index for July rose to 97.2, surpassing both June's revised figure of 95.2 and the 96.0 reading anticipated by economists. "In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence," Stephanie Guichard, senior economist of global indicators at The Conference Board, said in the release. The "Present Situation Index," which measures consumers' assessment of current business and labor market conditions, fell 1.5 points to 131.5 in July. The "Expectations Index," which tracks consumers' short-term outlook for income, business, and labor market conditions, rose to 74.4 in February from 69.9 last month. Historically, a reading below 80 in that category signals a recession in the coming year. Notably, Americans' appraisal of current job availability weakened for the seventh consecutive month, reaching its lowest point since March 2021. In July, 18.9% of consumers reported that jobs were hard to get, up from 14.5% in January. According to Guichard, consumers' write-in responses also highlighted that tariffs remained a significant concern, with many associating them with fears of rising prices. References to high prices and inflation also increased in July, even as consumers' average 12-month inflation expectations eased slightly to 5.8%, down from 5.9% in June and a peak of 7% in April. Consumer confidence saw an uptick in July with many Americans adjusting their expectations following the rebound from the tariff lows triggered by President Trump's Liberation Day announcements. However, confidence still lags behind the elevated levels observed last year, according to new data released Tuesday morning. The Conference Board's Consumer Confidence Index for July rose to 97.2, surpassing both June's revised figure of 95.2 and the 96.0 reading anticipated by economists. "In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence," Stephanie Guichard, senior economist of global indicators at The Conference Board, said in the release. The "Present Situation Index," which measures consumers' assessment of current business and labor market conditions, fell 1.5 points to 131.5 in July. The "Expectations Index," which tracks consumers' short-term outlook for income, business, and labor market conditions, rose to 74.4 in February from 69.9 last month. Historically, a reading below 80 in that category signals a recession in the coming year. Notably, Americans' appraisal of current job availability weakened for the seventh consecutive month, reaching its lowest point since March 2021. In July, 18.9% of consumers reported that jobs were hard to get, up from 14.5% in January. According to Guichard, consumers' write-in responses also highlighted that tariffs remained a significant concern, with many associating them with fears of rising prices. References to high prices and inflation also increased in July, even as consumers' average 12-month inflation expectations eased slightly to 5.8%, down from 5.9% in June and a peak of 7% in April. Job openings slide in June, as hiring rate hits 7-month low Job openings declined in June while hiring also decreased, according to government data released Tuesday. The report comes as investors closely watch for any signs of slowing in the labor market amid a debate over when the Federal Reserve could cut interest rates again. New data from the Bureau of Labor Statistics showed 7.44 million jobs open at the end of June, a decrease from the 7.71 million seen the month prior. May's report had showed the highest number of job openings since November 2024. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.2 million hires were made during the month, down from the 5.47 million made during May. The hiring rate ticked lower to 3.3% from the 3.4% seen the month prior and stood at its lowest level since November 2024. In one sign that workers remain cautious about labor market conditions, the quits rate, a sign of confidence among workers, hovered at 2%. Both the hiring and quits rates are hovering near decade lows, reflecting what economists have described as a labor market in "stasis." Job openings declined in June while hiring also decreased, according to government data released Tuesday. The report comes as investors closely watch for any signs of slowing in the labor market amid a debate over when the Federal Reserve could cut interest rates again. New data from the Bureau of Labor Statistics showed 7.44 million jobs open at the end of June, a decrease from the 7.71 million seen the month prior. May's report had showed the highest number of job openings since November 2024. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.2 million hires were made during the month, down from the 5.47 million made during May. The hiring rate ticked lower to 3.3% from the 3.4% seen the month prior and stood at its lowest level since November 2024. In one sign that workers remain cautious about labor market conditions, the quits rate, a sign of confidence among workers, hovered at 2%. Both the hiring and quits rates are hovering near decade lows, reflecting what economists have described as a labor market in "stasis." Royal Caribbean lifts annual profit forecast on steady cruise demand Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. Royal Caribbean's (RCL) stock fell 8% on Tuesday after the cruise line forecast its current-quarter profit below estimates. The company raised its annual forecast and is banking on resilient demand for its luxury destinations. Reuters reports: Read more here. P&G dips as it warns of $1 billion tariff hit Procter & Gamble (PG) stock dipped about 1%, reversing a slight premarket gain, as the company took a cautious approach with its financial outlook while it navigates uncertain consumer sentiment and Trump's tariffs. Yahoo Finance's Brian Sozzi reports: Read the full story here. Procter & Gamble (PG) stock dipped about 1%, reversing a slight premarket gain, as the company took a cautious approach with its financial outlook while it navigates uncertain consumer sentiment and Trump's tariffs. Yahoo Finance's Brian Sozzi reports: Read the full story here. Tech leads stocks higher at the open The tech-heavy Nasdaq Composite (^IXIC) led US stocks higher at the open on Tuesday morning with a 0.5% gain. Meanwhile, the S&P 500 (^GSPC) rose 0.2% on the heels of notching a sixth all-time closing high in a row on Monday. The Dow Jones Industrial Average (^DJI) opened roughly flat. Investors are digesting a wave of earnings reports and US trade data showing a sharp narrowing in the deficit (as tariffs loom). Meanwhile, they are looking ahead to the JOLTS job openings update for June at 10 a.m. ET. for labor market insight. The tech-heavy Nasdaq Composite (^IXIC) led US stocks higher at the open on Tuesday morning with a 0.5% gain. Meanwhile, the S&P 500 (^GSPC) rose 0.2% on the heels of notching a sixth all-time closing high in a row on Monday. The Dow Jones Industrial Average (^DJI) opened roughly flat. Investors are digesting a wave of earnings reports and US trade data showing a sharp narrowing in the deficit (as tariffs loom). Meanwhile, they are looking ahead to the JOLTS job openings update for June at 10 a.m. ET. for labor market insight. Major drugmakers mixed amid earnings Of the notable drugmakers reporting earnings Tuesday, AstraZeneca rose almost 2% and Merck fell nearly 4% before the market open. British drugmaker AstraZeneca reported second quarter revenue ahead of expectations Tuesday, with its cancer drugs helping fuel sales for the period. Meanwhile, fellow pharma giant Merck reported earnings below Wall Street's projections, according to Bloomberg consensus data, and revenue from its HPV vaccine Gardasil was also less than expected amid continued headwinds in China. Investors are also bracing for patents for its drug Keytruda (which accounted for roughly half of its second quarter revenue) to expire in 2028. Also on Tuesday, Danish drugmaker Novo Nordisk (NVO) plummeted roughly 20%. The firm cut its 2025 revenue and profit outlook, pointing to lower than expected sales growth of its obesity drug Wegovy in the US, ahead of its second quarter earnings results slated for Aug. 6. Of the notable drugmakers reporting earnings Tuesday, AstraZeneca rose almost 2% and Merck fell nearly 4% before the market open. British drugmaker AstraZeneca reported second quarter revenue ahead of expectations Tuesday, with its cancer drugs helping fuel sales for the period. Meanwhile, fellow pharma giant Merck reported earnings below Wall Street's projections, according to Bloomberg consensus data, and revenue from its HPV vaccine Gardasil was also less than expected amid continued headwinds in China. Investors are also bracing for patents for its drug Keytruda (which accounted for roughly half of its second quarter revenue) to expire in 2028. Also on Tuesday, Danish drugmaker Novo Nordisk (NVO) plummeted roughly 20%. The firm cut its 2025 revenue and profit outlook, pointing to lower than expected sales growth of its obesity drug Wegovy in the US, ahead of its second quarter earnings results slated for Aug. 6. Trump's DOJ puts companies on notice: Don't evade tariffs The Justice Department is putting American companies on notice that they could be prosecuted if they chose to evade President Trump's tariffs, even as the legality of the president's "Liberation Day" duties remain unsettled in US courts. Yahoo Finance's Alexis Keenan reports: Read more here. The Justice Department is putting American companies on notice that they could be prosecuted if they chose to evade President Trump's tariffs, even as the legality of the president's "Liberation Day" duties remain unsettled in US courts. Yahoo Finance's Alexis Keenan reports: Read more here. Nvidia leads Mag 7 higher on sign of 'enormous pent-up demand' from China Nvidia (NVDA) led the Big Tech "Magnificent Seven" stocks higher on Tuesday before the market open, climbing 1.4%. The gain came after Reuters reported that the AI chipmaker had ordered 300,000 H20 chips from its contract manufacturer TSMC. "This supports our theory that there is enormous pent-up demand for NVDA chips from China right now," Hedgeye Risk Management analyst Felix Wang wrote in a note to clients. Meanwhile, Microsoft (MSFT), Meta (META), and Amazon (AMZN) rose fractionally ahead of their quarterly earnings reports later this week. Apple (AAPL), Google (GOOG), and Tesla (TSLA) traded down less than 1%. Nvidia (NVDA) led the Big Tech "Magnificent Seven" stocks higher on Tuesday before the market open, climbing 1.4%. The gain came after Reuters reported that the AI chipmaker had ordered 300,000 H20 chips from its contract manufacturer TSMC. "This supports our theory that there is enormous pent-up demand for NVDA chips from China right now," Hedgeye Risk Management analyst Felix Wang wrote in a note to clients. Meanwhile, Microsoft (MSFT), Meta (META), and Amazon (AMZN) rose fractionally ahead of their quarterly earnings reports later this week. Apple (AAPL), Google (GOOG), and Tesla (TSLA) traded down less than 1%. Good morning. Here's what's happening today. Economic data: S&P CoreLogic 20-city home price index (May); Conference Board consumer confidence, July; Job Openings and Labor Turnover Survey (June); Dallas Fed services activity (July) Earnings: 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) Here are some of the biggest stories you may have missed overnight and early this morning: The market is finally getting what it wants 35 charts explain markets and the economy right now UnitedHealth stock falls after reporting mixed Q2 earnings Sarepta stock soars as FDA reverses course on gene therapy pause Spotify stock slides after Q2 earnings and revenue miss Trump's DOJ puts companies on notice on tariffs US, EU rush to clinch final details and lock in trade deal Apple to Shutter a Retail Store in China for the First Time Ever Stellantis faces $1.7B hit from US tariffs this year Economic data: S&P CoreLogic 20-city home price index (May); Conference Board consumer confidence, July; Job Openings and Labor Turnover Survey (June); Dallas Fed services activity (July) Earnings: 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) Here are some of the biggest stories you may have missed overnight and early this morning: The market is finally getting what it wants 35 charts explain markets and the economy right now UnitedHealth stock falls after reporting mixed Q2 earnings Sarepta stock soars as FDA reverses course on gene therapy pause Spotify stock slides after Q2 earnings and revenue miss Trump's DOJ puts companies on notice on tariffs US, EU rush to clinch final details and lock in trade deal Apple to Shutter a Retail Store in China for the First Time Ever Stellantis faces $1.7B hit from US tariffs this year Trending tickers: UPS, Whilepool and Royal Caribbean Here are some top stocks trending on Yahoo Finance in premarket trading: UPS (UPS) stock fell over 2% before the bell on Tuesday after reporting a drop in second-quarter profit and revenue, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies. Whirlpool (WHR) stock fell premarket on Tuesday. after the appliance maker slashed its earnings outlook the day prior. Royal Caribbean (RCL) stock rose 4% before the bell after raising its annual profit forecast on Tuesday, banking on resilient demand for the cruise operator's high-end private island destinations and premium sailings. Here are some top stocks trending on Yahoo Finance in premarket trading: UPS (UPS) stock fell over 2% before the bell on Tuesday after reporting a drop in second-quarter profit and revenue, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies. Whirlpool (WHR) stock fell premarket on Tuesday. after the appliance maker slashed its earnings outlook the day prior. Royal Caribbean (RCL) stock rose 4% before the bell after raising its annual profit forecast on Tuesday, banking on resilient demand for the cruise operator's high-end private island destinations and premium sailings. The market is finally getting what it wants Wall Street's busiest week of the summer is turning out to be an inflection point. Yahoo Finance's Hamza Shaban explains why in today's Morning Brief: Read more here. Wall Street's busiest week of the summer is turning out to be an inflection point. Yahoo Finance's Hamza Shaban explains why in today's Morning Brief: Read more here. Spotify stock sinks after Q2 earnings miss Spotify (SPOT) shares fell as much as 10% in early premarket trading Tuesday after the company missed second quarter earnings and revenue expectations. The results follow a remarkable 120% rally over the past year, as the stock rebounded from 2022 lows on the back of price hikes, cost cuts, and investor enthusiasm for AI and advertising. Spotify hit a record high of $738.45 earlier this month, but shares slid to around $635 immediately following the results. Spotify reported second quarter revenue of €4.19 billion ($4.86 billion), missing analyst expectations of €4.27 billion, though up from €3.81 billion in the same period last year. The company posted an adjusted loss of €0.42 ($0.49) per share, sharply missing forecasts for a profit of €1.97 and down from earnings of €1.33 in Q2 2024. "Outsized currency movements during the quarter impacted reported revenue by €104 million vs. guidance," the company said in the earnings release. Operating income also fell short of expectations in the quarter, though subscriber metrics for both premium and ad-supported tiers came in ahead of estimates. Gross margins of 31.5% came in as expected. Spotify's massive rally heading into the earnings report was fueled by a sweeping business overhaul, including layoffs, leadership changes, and a pullback from costly podcast exclusivity. After spending $1 billion to build out its podcast business, the company has since scaled back and narrowed its focus. Still, it remains committed to the medium, paying over $100 million to creators in Q1 alone, including high-profile names like Joe Rogan and Alex Cooper. Read more here. Spotify (SPOT) shares fell as much as 10% in early premarket trading Tuesday after the company missed second quarter earnings and revenue expectations. The results follow a remarkable 120% rally over the past year, as the stock rebounded from 2022 lows on the back of price hikes, cost cuts, and investor enthusiasm for AI and advertising. Spotify hit a record high of $738.45 earlier this month, but shares slid to around $635 immediately following the results. Spotify reported second quarter revenue of €4.19 billion ($4.86 billion), missing analyst expectations of €4.27 billion, though up from €3.81 billion in the same period last year. The company posted an adjusted loss of €0.42 ($0.49) per share, sharply missing forecasts for a profit of €1.97 and down from earnings of €1.33 in Q2 2024. "Outsized currency movements during the quarter impacted reported revenue by €104 million vs. guidance," the company said in the earnings release. Operating income also fell short of expectations in the quarter, though subscriber metrics for both premium and ad-supported tiers came in ahead of estimates. Gross margins of 31.5% came in as expected. Spotify's massive rally heading into the earnings report was fueled by a sweeping business overhaul, including layoffs, leadership changes, and a pullback from costly podcast exclusivity. After spending $1 billion to build out its podcast business, the company has since scaled back and narrowed its focus. Still, it remains committed to the medium, paying over $100 million to creators in Q1 alone, including high-profile names like Joe Rogan and Alex Cooper. Read more here. UnitedHealth stock slips after mixed Q2 results Shares of UnitedHealth Group (UNH) fell nearly 3% after its quarterly results before the bell painted a mixed picture. Yahoo Finance's Anjalee Khemlani reports: Read more here. Shares of UnitedHealth Group (UNH) fell nearly 3% after its quarterly results before the bell painted a mixed picture. Yahoo Finance's Anjalee Khemlani reports: Read more here. Sarepta stock rockets higher after FDA greenlight Shares in drugmaker Sarepta (SRPT) rocketed up over 30% in premarket after the embattled company got the FDA's go-ahead to resume shipments of its Elevdis gene therapy. The greenlight comes after Sarepta put a voluntary pause on shipments for some patients while the US regulator reviewed its safety following deaths. The FDA on Monday recommended that the compa lift that halt. Sarepta's stock is poised to build on a 16% gain on Monday, continuing a recent volatile spell triggered by changing fortunes for its best-selling product. AP reports: Read more here. Shares in drugmaker Sarepta (SRPT) rocketed up over 30% in premarket after the embattled company got the FDA's go-ahead to resume shipments of its Elevdis gene therapy. The greenlight comes after Sarepta put a voluntary pause on shipments for some patients while the US regulator reviewed its safety following deaths. The FDA on Monday recommended that the compa lift that halt. Sarepta's stock is poised to build on a 16% gain on Monday, continuing a recent volatile spell triggered by changing fortunes for its best-selling product. AP reports: Read more here. Nvidia orders 300,000 H20 chips from TSMC to satiate Chinese demand Reuters reports: Nvidia placed orders for 300,000 H20 chipsets with contract manufacturer TSMC last week, two sources said, with one of them adding that strong Chinese demand had led the U.S. firm to change its mind about just relying on its existing stockpile. Read more here. Reuters reports: Nvidia placed orders for 300,000 H20 chipsets with contract manufacturer TSMC last week, two sources said, with one of them adding that strong Chinese demand had led the U.S. firm to change its mind about just relying on its existing stockpile. Read more here. Oil maintains gains with tariffs and OPEC+ supply in sight Oil maintained gains following Trump putting pressure on Russia over the war in Ukraine with economic sanctions against Putin's government on the table. Bloomberg reports: Read more here. Oil maintained gains following Trump putting pressure on Russia over the war in Ukraine with economic sanctions against Putin's government on the table. Bloomberg reports: Read more here. 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
