
Stocks making the biggest moves midday: Lucid Group, Elevance Health, Albemarle, PepsiCo & more
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
Tesla misses Wall Street expectations on revenue, earnings per share in second quarter earnings
Tesla's second quarter earnings signaled the company continues to go through a difficult patch, with both revenue and adjusted earnings per share missing the average Wall Street estimates. Revenue was $22.5 billion, down approximately 12% year over year, the sharpest decline in at least a decade. Adjusted earnings per share was 40 cents, down from 52 cents a year ago. Analysts, on average, had forecast revenue between $22.62 billion and $22.64 billion and adjusted EPS of $0.41 to $0.42 per share, with Tesla below the midpoint on each. Tesla's double-digit percentage revenue decline was primarily attributed to the ongoing slump in vehicle deliveries. Improved energy storage deployments and new service offerings provided minor offsets, but could not outweigh the hit from lagging car sales and persistent price competition across the electric vehicle industry. Operating income also fell significantly, coming in at $923 million, which was below consensus estimates of $1.23 billion. Net income dropped year over year as margins continued to shrink, pressured by lower average selling prices, higher raw material costs, and global trade headwinds. Tesla had previously reported deliveries of more than 384,000 vehicles in the quarter—a drop of more than 13% from the previous year—with production holding steady at just over 410,000 vehicles. This marks the second quarter in a row of reduced year-over-year deliveries. Wall Street had entered the earnings week with tepid expectations, citing declining sales, compressed margins, and elevated spending on research and development as factors dampening short-term prospects. While Tesla's results were slightly weaker than forecast, shares saw only a modest uptick in after-hours trading, as investors focused on the company's long-term ambitions rather than current sales struggles. Robotaxi, AI, and a new affordable model Tesla's leadership used the earnings release to reaffirm its pivot toward next-generation technologies. CEO Elon Musk highlighted the launch of Tesla's first Robotaxi pilot service in Austin, along with vague remarks related to the ongoing development of a long-rumored 'more affordable' Tesla model. Musk signaled that, amid stiffer automotive competition, Tesla's strategy increasingly centers on breakthroughs in autonomy, artificial intelligence, and energy solutions as pillars for future growth. Multiple challenges continue to weigh on Tesla, including expiring U.S. electric vehicle tax credits in October 2025, ongoing trade disputes and tariffs affecting costs and global supply, and intensifying competition from established automakers and Chinese EV brands. More generally, the brand has growing reputational issues associated with Musk and his support of President Donald Trump, even after the two had a falling out that coincided with fierce criticism of each upon the other. During Musk's brief role helping the administration, his sometimes successful attempts at slashing government spending provoked ire from much of Tesla's traditional customer base, with environmentalist and left-leaning politics. Other investors said they wished the distraction would go away. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. This story was originally featured on


Business Upturn
an hour ago
- Business Upturn
EPACK Durable partners with South Korea's Bumjin to enter smart audio segment
By Aditya Bhagchandani Published on July 25, 2025, 12:20 IST EPACK Durable Limited has entered into a strategic joint venture with South Korea-based Bumjin Electronics Co. Limited to manufacture soundbars, Bluetooth devices, and TV speakers in India. The deal, signed on July 24, 2025, is expected to kickstart manufacturing operations by Q3 FY26 and target a 30% market share in the segment. The partnership aims to leverage EPACK's large-scale manufacturing and Bumjin's expertise in speaker technology to develop AI-integrated, high-performance audio products. The collaboration also supports EPACK's plan to diversify beyond room air conditioners and into the broader smart consumer electronics space. EPACK Durable's MD & CEO Ajay DD Singhania said this alliance will help strengthen India's electronics manufacturing capabilities while delivering locally built products that match global standards. Executive Chairman Bajrang Bothra added that the joint venture aligns with the company's long-term roadmap and could reduce India's 25% import dependency in speaker systems. This collaboration is also expected to open up export opportunities while enabling the transfer of global best practices and advanced technologies into the Indian electronics ecosystem. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
an hour ago
- Yahoo
China's premier tells EU leaders 'we can't afford' massive industrial subsidies
Chinese Premier Li Qiang dismissed EU fears over Beijing's allegedly excessive subsidies to its industry, telling the bloc's leaders "we can't afford it" in markedly candid remarks during a tense summit. Speaking during a roundtable with EU chief Ursula von der Leyen on Thursday, Li insisted that "China is by no means doing what some call a subsidies policy or fiscal subsidies". "China is not as rich as Europe, and we can't afford it," he said. "We would not be stupid enough to use the fiscal funds accumulated through the government and the hard work of our people to sell our products to foreign consumers," Li added. Von der Leyen and European Council President Antonio Costa were in Beijing on Thursday for a summit dominated by tensions between the EU and China over trade and Russia's war in Ukraine. Chief among the bloc's concerns was its yawning trade deficit with China, which stood at around $360 billion last year. The EU has also raised fears that Beijing's vast subsidies to its industry could help it undercut European competitors with a flood of cheap exports to the continent. Li, China's number two official, rejected those claims in a roundtable with the EU's leadership. "Some enterprises, especially manufacturing enterprises, feel more deeply that China's manufacturing capabilities are too strong, and Chinese people are too hardworking," the Chinese premier said. "Factories run 24 hours a day," he said. "Some people think this will cause some new problems in the balance of supply and demand in world production," the Chinese premier said, admitting: "We see this problem too." Li also rejected claims the Chinese economy -- plagued by sluggish growth for years now -- was in dire straits. "Of course, there are difficulties and challenges, but it is difficult for us to say that China's economy is in a downturn," he said. "Our GDP growth rate is always above five percent," he insisted. ll-mjw-oho/je/tym