Shutterstock: Q4 Earnings Snapshot
The New York-based company said it had a loss of 4 cents per share. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.
The online marketplace for royalty-free images and videos posted revenue of $250.3 million in the period.
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Los Angeles Times
4 minutes ago
- Los Angeles Times
Sierra Club in turmoil after board fires executive director
The Sierra Club, one of the nation's oldest and most prominent nonprofit environmental groups, was thrown into upheaval this week after its executive director was fired. In an email to staff Monday, Sierra Club President Patrick Murphy said the board of directors had voted unanimously to terminate Ben Jealous after conducting 'an extensive evaluation of his conduct.' Jealous' tenure had been tumultuous. He clashed with staff over sweeping layoffs and faced sharp criticism from ousted high-level employees, volunteers and some notable environmental advocates. They said the Oakland-based organization had stifled differing opinions and had become weakened as the Trump administration rolled back environmental protections. The group's board had placed Jealous on leave in July. Murphy said in the Monday email that the board's decision was 'a difficult but principled one' to 'ensure every individual at the Sierra Club is held equally accountable, with no special treatment or favor for those holding influence and power.' The Sierra Club declined to give specific details on why Jealous, who ran the organization out of Washington, D.C., was fired. Jonathon Berman, a spokesperson for the Sierra Club, said that Jealous had 'engaged in conduct that constitutes cause under his employment agreement.' Berman clarified that the decision had 'nothing whatsoever to do with layoffs' or controversial hiring moves by Jealous. In a statement to The Times, Jealous defended his record, saying he strengthened the organization's finances and achieved a 'progressive union contract.' He said that he would contest the move to fire him, and that he 'remained proud' of what he had accomplished at the Sierra Club. 'It is disheartening, unfortunate, but perhaps not surprising that the board has chosen an adversarial course that the facts so clearly cannot support,' he said in a statement. 'I have begun the process under my contract to fight this decision. I am confident that we will prevail.' Sierra Club had been in the process of negotiating the terms of Jealous' exit, but talks had broken down, leading to the vote to fire the executive, according to a source with information on the board's discussions who was not authorized to comment. Jealous took over the organization in 2023, after it went through a wrenching internal reckoning over the racist views of its founder, John Muir, more than a century ago and allegations of sexual abuse by a former senior employee. Staff members have said they were initially excited about the hiring of Jealous, who voiced support for the union at the beginning of his tenure. But the relationship began to sour when he announced deep cuts to staff and several organizational overhauls, citing a budget deficit. The union publicly accused Jealous of hiring friends for costly management posts and spending lavishly on executive salaries. Laid-off workers said efforts toward environmental justice for communities of color had been unraveled, with community organizations in California's Inland Empire and other areas facing major congestion and pollution feeling betrayed and abandoned. Last June, unionized workers who were poised to strike sent a letter to the Sierra Club's board of directors informing them they had issued a vote of no confidence in the leadership. The Sierra Club had previously defended hiring moves by Jealous, saying it had 'moved quickly to fill those key roles with seasoned leaders.' Jealous told The Times in an interview last year that deep cuts were necessary and that he had been transparent throughout the process. 'These are the hard decisions that you have to make when you lead a more than century-old institution and you're committed to it having a future as long as its past,' Jealous said then. The organization also faced internal scrutiny over the hiring of a senior manager who was registered as a lobbyist for the cryptocurrency firm at the same time he worked at the Sierra Club, which has been politically critical of the polluting effects of the crypto industry and supports tighter regulations. 'The environmental impacts of cryptocurrency mining are well known,' said Dylan Plummer, an elected representative for the Sierra Club's union, which is affiliated with the broader Progressive Workers Union. 'To have hired an active lobbyist for at the highest ranks of our organization is so inappropriate it boggles my mind.' Sierra Club did not respond to a question about the hiring of the lobbyist. Erica Dodt, president of the broader Progressive Workers Union, said in a statement that she hopes Jealous' departure 'will open the door for a stronger relationship between workers and management, and allow the Sierra Club to better focus our efforts on fighting the Trump administration and protecting the environment.' Jealous, who was formerly the chief executive of the NAACP and a 2018 Democratic nominee for governor of Maryland, is Black and was the first person of color to serve at the helm of the organization. Some of his supporters have suggested racism played a role in his firing, which Sierra Club staff members have disputed. 'There are serious racial implications in firing a Black man of Ben's caliber, in this fashion, at a time when diversity is under attack,' civil rights leader Al Sharpton said in a statement to Politico. Some of the turmoil roiling the national organization is mirrored in its California advocacy arm. The state plays an outsize role in the club, home to its headquarters and roughly 134,000 members. Sierra Club California, which is one of the most influential environmental voices in Sacramento, has in recent years seen plummeting membership, dropping by roughly 19% between 2019 and 2024, and revolving leadership — with the group cycling through four leaders in a four-year period. Jason Mark, who served as editor-in-chief of the organization's 'Sierra' magazine for about nine years until December, when he was removed from his leadership post, welcomed Jealous' termination. 'It was sad and demoralizing to watch the Sierra Club under Ben's leadership,' Mark said in an interview. 'Still, I'm convinced the Sierra Club is a vital force of nature and truly an irreplaceable pillar in the American environmental movement.'
Yahoo
34 minutes ago
- Yahoo
Gemini files IPO bid amid crypto rally while bleeding $282m
US-based Gemini crypto exchange is striking while the iron is hot, filing for an initial public offering in a raging crypto bull market even as it racks up heavy losses. The Winklevoss-led company lost $282 million in the first half of 2025, according to its IPO filing made public Friday. Gemini plans to list on Nasdaq under the ticker GEMI and said it may use the proceeds to repay debt. The firm reported $2.1 billion in liabilities as of June 30, including loans from Galaxy and NYDIG. Despite the mounting losses, Gemini is betting that favourable market conditions and renewed investor interest in crypto stocks will help it land a successful debut. The exchange generated just $68.6 million in revenue in the first six months of 2025, down from $74.3 million during the same period last year, while losses ballooned more than sixfold. One of us Gemini's filing comes on the heels of Bullish's blockbuster IPO, which raised $1.1 billion and saw shares surge 228% on the first day of trading, giving it a $10 billion valuation. The Peter Thiel-backed exchange became the second publicly traded crypto exchange in the US, after Coinbase. Gemini will be the third once it lists. Gemini's filing adds to a wave of digital asset firms tapping public markets as investor appetite in all things crypto rebounds. Stablecoin issuer Circle went public in June and quickly hit a $40 billion market cap, becoming the first publicly traded stablecoin firm in the US. It has since slipped to just over $37 billion. Galaxy Digital, led by Mike Novogratz, also joined the Nasdaq this year to gain deeper access to US capital markets. Galaxy shares dipped in the days following its IPO but have since rebounded, gaining around 12% since then. Crypto market movers Bitcoin has lost 1% in value over the past 24 hours and is trading at $117,710. Ethereum is down 4% in the same period to $4,460. What we're reading New York's top lawyer said Ethereum is a security. A crypto lawyer is coming for her job — DL News Citigroup considers custody and payment services for stablecoins, crypto ETFs — Reuters DeFi Tokens Surge — But These Hidden Gems Could Shine Next — Unchained Why Ethena's USDe got a 1,250% risk weighting in S&P Global's Sky credit rating — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio
Yahoo
43 minutes ago
- Yahoo
Forget President Donald Trump's Tariffs! There's a Far More Sinister Worry for Wall Street.
Key Points The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have navigated their way through historical bouts of volatility in 2025. Donald Trump's tariff and trade policy has stoked inflationary fears and increased uncertainty on Wall Street. However, a historically pricey stock market implies corporate earnings quality is of the utmost importance. 10 stocks we like better than S&P 500 Index › It's been quite a memorable year for Wall Street, with the broad-based S&P 500 (SNPINDEX: ^GSPC), growth stock-propelled Nasdaq Composite (NASDAQINDEX: ^IXIC), and ageless Dow Jones Industrial Average (DJINDICES: ^DJI) navigating their way through historical bouts of volatility. For example, during a one-week stretch in April, the S&P 500 endured its fifth-biggest two-day percentage decline in 75 years, as well as logged its largest single-day point gain since its inception. The benchmark index has also delivered one of its strongest three-month returns since 1950. With the S&P 500 and Nasdaq Composite rocketing to fresh all-time highs, and the Dow Jones just a stone's throw away from surpassing its record close set in December, it would appear nothing can slow down this bona fide wealth-creating machine. But things may not be as unbreakable as they seem. While a lot of attention is currently being paid to President Donald Trump's tariff and trade policy and how it could adversely impact Wall Street, a far more sinister worry lies in wait that can act as a significant drag on stocks. President Trump's tariffs bring uncertainty and inflation to the forefront On April 2, following the close of trading, Donald Trump unveiled his long-touted tariff and trade policy. It included a sweeping 10% global tariff, as well as introduced higher "reciprocal tariff rates" on dozens of countries that have historically had adverse trade imbalances with America. The president's primary goals with his tariff and trade policy are to promote domestic manufacturing, keep American goods price-competitive with those being brought in from foreign markets, and to pad the federal government's pocketbooks with tariff revenue. Though tariff revenue is undeniably climbing, so is the level of uncertainty associated with these tariffs. One of the more prominent issues with President Trump's tariff and trade policy is there's been little follow-through or consistency. There have been two separate 90-day pauses on reciprocal tariffs with the world's No. 2 economy by gross domestic product, China, and the president has adjusted the effective date, reciprocal tariff rate, and/or goods subject to tariffs for other countries on a variety of occasions. Wall Street demands predictability, and this administration hasn't been providing it. Investors are also worried about the potential inflationary impact of the president's tariff policies. A report ("Do Import Tariffs Protect U.S. Firms?") issued in December by four New York Federal Reserve economists working for Liberty Street Economics raised a good point about the lack of clarity Trump's tariffs have offered between input and output tariffs. Output tariffs are duties placed on finished products imported into the U.S., while input tariffs are duties applied to goods used to complete a finished product domestically. Ideally, tariffs are being applied to finished products, which can allow domestic manufacturers to be more price-competitive with imported goods. However, some of Trump's tariffs are being directed at goods used to complete the manufacture of products in the U.S. Input tariffs often end up increasing domestic manufacturing costs and can drive the prevailing rate of inflation higher. The other concern, which builds on the report from the four New York Fed economists, is historical precedent. The authors examined the performance of public companies whose stock struggled when Trump's China tariffs were introduced in 2018-2019. On average, companies directly impacted by Trump's China tariffs during his first term in the Oval Office saw their sales, profits, employment, and labor productivity all decline from 2019 through 2021. While there are ample reasons to believe President Trump's tariffs are a genuine concern for stocks, a far bigger threat to upend the bull market exists. Wall Street has a serious earnings quality problem As of the closing bell on Aug. 13, the S&P 500's Shiller P/E Ratio closed at a multiple of almost 39. With the exception of the dot-com bubble and the first week of 2022, this is the third-priciest stock market in history, when back-tested 154 years. Although historical precedent portends trouble for the stock market, valuations have the ability to remain extended if companies are delivering strong earnings growth and offering analyst-topping guidance. While many of the stock market's leading businesses have made a habit out of surpassing consensus profit expectations, a dive beneath the headline figures uncovers just how poor the earnings quality truly is on Wall Street. Ideally, the companies responsible for pushing the broader market higher should be letting their operating performance do the talking. But quite a few prominent businesses have been buoyed by unsustainable and/or non-innovative income sources that partially mask their true operating performance. One of the more prominent examples of a high-flying stock with abysmal earnings quality is Tesla (NASDAQ: TSLA). This member of the "Magnificent Seven" is North America's leading electric vehicle (EV) manufacturer and a business valued at $1.1 trillion, as of this writing. Through the first half of 2025, Tesla generated $2.138 billion in pre-tax income. However, $1.649 billion (77.1%) traced back to automotive regulatory credits given to the company for free by federal governments and net interest income (interest earned on cash less interest paid on debt). President Trump's "Big, Beautiful Bill" will eliminate Tesla's automotive regulatory credits in the U.S. For a company expected to be a market leader, Tesla has been consistently reliant on income sources that have absolutely nothing to do with selling EVs and its energy generation and storage operations. To boot, earnings-per-share (EPS) estimates for future years have been falling with some level of consistency for nearly three years. It's a somewhat similar story for red-hot artificial intelligence (AI) stock Palantir Technologies (NASDAQ: PLTR). Palantir's sought-after AI-driven software-as-a-service Gotham and Foundry platforms are delivering sizzling growth, with full-year sales now projected to climb by 45% in 2025. But one of the interesting quirks about Palantir is that it generates a sizable percentage of its pre-tax income from interest earned on its cash. Though I'm not faulting Palantir for bringing in $106.7 million in interest income through the first six months of 2025, it's worth noting that this represents more than 19% of its pre-tax income. A company that's valued at a completely unjustifiable price-to-sales ratio of 135 should be doing all the talking with its operating performance. Instead, Palantir's trailing-12-month P/E ratio of more than 610 is being partially propped up by non-innovative interest income earned from its cash. Tesla and Palantir aren't unique examples -- they just happen to be some of the most prominent businesses. If earnings quality remains poor or suspect, premium valuations can easily become the stock market's downfall. Should you invest $1,000 in S&P 500 Index right now? Before you buy stock in S&P 500 Index, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and S&P 500 Index wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $663,630!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,695!* Now, it's worth noting Stock Advisor's total average return is 1,071% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies and Tesla. The Motley Fool has a disclosure policy. Forget President Donald Trump's Tariffs! There's a Far More Sinister Worry for Wall Street. was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
