Erdogan to Push Macron to Finalize Missile System Sale to Turkey
Turkey has long sought Macron's approval to procure European systems and a green light for sales of Eurosam GIE 's SAMP/T could accelerate Ankara's plans to build its own 'steel dome' missile-defense shield in the next two to three years, according to Turkish officials familiar with the matter, who spoke on condition of anonymity.
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Yahoo
4 minutes ago
- Yahoo
Earnings live: AT&T stock slides despite subscriber surge; Tesla and Google earnings in focus
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 get a glimpse of how corporate leaders are navigating these challenges, with 112 S&P 500 companies reporting results, including GM (GM), Coca-Cola (KO), Alphabet (GOOGL, GOOG), and Tesla (TSLA). Data from FactSet published Friday showed that with 12% of the index having reported results, analysts now expect S&P 500 companies to report a 5.6% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. AT&T delivers earnings, subscriber beat but the stock is sliding AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. Hasbro lifts annual revenue forecast on strong demand for 'Magic: The Gathering' games Toymaker Hasbro (HAS) stock rose 3% on Wednesday after it raised its annual revenue forecast due to strong demand for its game "Magic: The Gathering" as well as cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty. Reuters reports: Read more here. Hilton lifts 2025 profit forecast on US demand recovery Hilton Worldwide (HLT) raised its profit forecast for 2025 after US travel demand bounced back from a slow March and April. Shares in the hospitality group fell 2% before the bell on Wednesday. Reuters reports: Read more here. Trump bill winner: AT&T I would keep an eye on companies calling out the financial impact of the new Trump tax bill on their earnings releases. AT&T (T) looks like it stands to cash in! What they highlighted on their earnings release this morning: Texas Instruments under a dark cloud Given how hard the market has rallied, any company reporting guidance that is perceived as subpar will get punished. Good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded in premarket by 12% on 3Q EPS guidance that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Whatever the case, TXN's outlook is pressuring on similar names in the space in Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI) and On Semi (ON). Google set to report Q2 earnings as Wall Street looks for AI revenue gains Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday, providing a highly anticipated update on the wave of artificial intelligence spending, adoption, and monetization. My colleague Daniel Howley previews what Wall Street is expecting from Alphabet's results: Read more here. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Stocks mixed after rush of earnings reports Here's a quick update on how shares of some companies that reported earnings this morning are performing. Overall stocks wobbled in early trading after reaching record highs the day before. Google (GOOG) shares were also down fractionally and Tesla (TSLA) stock gained about 1% ahead of their highly anticipated reports on Wednesday. Expect more volatility as companies report, Annex Wealth Management chief economist Brian Jacobsen told Yahoo Finance on Friday. "Earnings misses are going to get punished a lot more than usual. I don't think investors have the patience to really deal with companies that are missing any of those estimates." See the latest stock moves and market action as earnings roll in. PulteGroup, D.R. Horton stocks soar as homebuilders share cautious optimism Shares of PulteGroup (PHM) and D.R. Horton (DHI) soared in afternoon trading Tuesday after the homebuilders reported earnings that surprised to the upside. PulteGroup rose 8% while D.R. Horton spiked 14% after both companies indicated that conditions were improving for the industry, which has been beset by higher building costs, rising mortgage rates, and cautious consumers this year. In the companies' earnings calls, D.R. Horton CEO Paul Romanowski noted a reduction in its "stick and brick costs" and said the company wasn't having labor availability issues. Similarly, PulteGroup CFO James Ossowski highlighted that the company does not see as large a tariff impact as it did previously. "During our Q1 call, we indicated a potential impact of tariffs of approximately $5,000 per unit that could hit in the latter part of Q4," Ossowski said. "At this time, we now expect any impact from tariffs in Q4 to be lower..." PulteGroup CEO Ryan Marshall also noted that a drop in mortgage rates in the last two weeks of June stimulated activity, though the housing market still remains uncertain as affordability challenges weigh on many would-be buyers. Coca-Cola earnings lifted by strong demand in Europe Coca-Cola demand in Europe, the Middle East, and Africa helped lift the company's revenue for the second quarter, offsetting weakness everywhere else. Yahoo Finance's Brooke DiPalma reports: Coca-Cola's Europe, Middle East, and Africa geography accounts for roughly 24% of the company's revenue, while North America represents about 40% of revenue. Read more here. Northrop Grumman stock pops after boost to 2025 profit outlook Northrop Grumman's (NOC) shares jumped over 7% after it raised its full-year forecast on the heels of strong quarterly profit and revenue beats. The aerospace and defense giant has lifted its outlook as geopolitical tensions sustain demand for its defense products. Beyond that, the company is in talks to support the planned Golden Dome missile system. The Trump administration is searching for new partners for the project as tensions with Elon Musk threaten SpaceX's dominance, Reuters reported. Northrop Grumman reported second quarter earnings of $8.15 a share, versus $6.82 expected. Revenue came in at $10.35 billion, well above the $10.05 billion consensus view. Reuters reported: Read more here. D.R. Horton third-quarter results top estimates on incentives push D.R. Horton (DHI) stock rose 6% before the bell after the homebuilder reported third quarter profit and revenue above estimates. On an adjusted basis, D.R. Horton's earnings came in at $3.36 per share as buyer incentives sustained home sales amid high interest rates and rising costs. Analysts were expecting earnings of $2.88 a share, according to data compiled by LSEG. Reuters reports: Read more here. Philip Morris stock sinks after revenue miss Malboro-maker Philip Morris (PM) missed on second quarter revenue estimates as cigarette sales slipped and it shipped fewer Zyn nicotine packages than expected. Reuters reports: Read more here. Coca-Cola tops Q2 estimates on steady soda demand, plans cane sugar-based products Coca-Cola (KO) beat Wall Street's second quarter revenue and profit estimates on Tuesday, as steady soda demand and higher prices boosted profits. The stock was down about 0.7% in afternoon trading. Notably, the company said it plans to launch an offering made with US cane sugar under its trademark Coca-Cola product range this fall. In recent days, President Trump said that the company agreed to use cane sugar in its products, which Coke didn't confirm at the time. Here's what Coca-Cola reported, per Reuters: Read more here. RTX cuts 2025 profit forecast as tariff costs weigh US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. GM stock falls as Trump tariffs take $1B bite out of earnings US automaker General Motors (GM) stock fell over 7.5% on Tuesday after reporting a fall in second quarter core profit of 32% to $3 billion. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Eyes on the earnings 'broadening' beyond Big Tech Earnings reports from "Magnificent Seven" tech stocks kick off this week with the quarterly releases from Tesla (TSLA) and Google (GOOG). Yahoo Finance's Josh Schafer notes that once again, that cohort is expected to lead S&P 500 earnings growth this quarter. He writes: Read more here. Trump Media stock surges after acquiring $2 billion of bitcoin The stock of President Trump's namesake media group rose 6% Monday morning after it announced it had purchased $2 billion in bitcoin (BTC-USD) and related securities, Yahoo Finance's David Hollerith reports. Hollerith writes: Trump Media and many other firms — GameStop (GME), for example — have followed in the footsteps of Michael Saylor's software firm turned crypto giant, Strategy (MSTR), buying up bitcoin to hold on their balance sheet in the hopes of replicating MSTR's stock price success. The move from Trump Media follows the House's passage of a trio of crypto bills last week, including the first federal framework for dollar-backed stablecoins. Read more about DJT's rise on Monday here. Cleveland-Cliffs reports smaller loss than expected, says tariffs are having 'positive impact' On Monday, Cleveland-Cliffs (CLF) posted a narrower-than-expected earnings loss and revenue that was roughly in line with estimates. Cleveland-Cliffs' earnings came in at $0.50 per share, compared to consensus estimates of a $0.68 per share loss, as compiled by S&P Global. The US-based company, which supplies steel to several automakers, said it's benefiting from President Trump's protectionist policies and 25%-50 tariffs on foreign steel imports. "We have started to see the positive impact that tariffs have on domestic manufacturing, protecting domestic jobs and national security," CEO Lourenco Goncalves said in a statement. "We expect this trend to continue, promoting the resurgence of the American automotive industry supported by a thriving domestic steel industry.' Shares of the steelmaker rose more than 5% at the market open. Stellantis warns of $2.7B loss for 1H amid tariff headwinds Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. Reuters reports: Read more here. AT&T delivers earnings, subscriber beat but the stock is sliding AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. Hasbro lifts annual revenue forecast on strong demand for 'Magic: The Gathering' games Toymaker Hasbro (HAS) stock rose 3% on Wednesday after it raised its annual revenue forecast due to strong demand for its game "Magic: The Gathering" as well as cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty. Reuters reports: Read more here. Toymaker Hasbro (HAS) stock rose 3% on Wednesday after it raised its annual revenue forecast due to strong demand for its game "Magic: The Gathering" as well as cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty. Reuters reports: Read more here. Hilton lifts 2025 profit forecast on US demand recovery Hilton Worldwide (HLT) raised its profit forecast for 2025 after US travel demand bounced back from a slow March and April. Shares in the hospitality group fell 2% before the bell on Wednesday. Reuters reports: Read more here. Hilton Worldwide (HLT) raised its profit forecast for 2025 after US travel demand bounced back from a slow March and April. Shares in the hospitality group fell 2% before the bell on Wednesday. Reuters reports: Read more here. Trump bill winner: AT&T I would keep an eye on companies calling out the financial impact of the new Trump tax bill on their earnings releases. AT&T (T) looks like it stands to cash in! What they highlighted on their earnings release this morning: I would keep an eye on companies calling out the financial impact of the new Trump tax bill on their earnings releases. AT&T (T) looks like it stands to cash in! What they highlighted on their earnings release this morning: Texas Instruments under a dark cloud Given how hard the market has rallied, any company reporting guidance that is perceived as subpar will get punished. Good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded in premarket by 12% on 3Q EPS guidance that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Whatever the case, TXN's outlook is pressuring on similar names in the space in Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI) and On Semi (ON). Given how hard the market has rallied, any company reporting guidance that is perceived as subpar will get punished. Good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded in premarket by 12% on 3Q EPS guidance that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Whatever the case, TXN's outlook is pressuring on similar names in the space in Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI) and On Semi (ON). Google set to report Q2 earnings as Wall Street looks for AI revenue gains Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday, providing a highly anticipated update on the wave of artificial intelligence spending, adoption, and monetization. My colleague Daniel Howley previews what Wall Street is expecting from Alphabet's results: Read more here. Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday, providing a highly anticipated update on the wave of artificial intelligence spending, adoption, and monetization. My colleague Daniel Howley previews what Wall Street is expecting from Alphabet's results: Read more here. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Stocks mixed after rush of earnings reports Here's a quick update on how shares of some companies that reported earnings this morning are performing. Overall stocks wobbled in early trading after reaching record highs the day before. Google (GOOG) shares were also down fractionally and Tesla (TSLA) stock gained about 1% ahead of their highly anticipated reports on Wednesday. Expect more volatility as companies report, Annex Wealth Management chief economist Brian Jacobsen told Yahoo Finance on Friday. "Earnings misses are going to get punished a lot more than usual. I don't think investors have the patience to really deal with companies that are missing any of those estimates." See the latest stock moves and market action as earnings roll in. Here's a quick update on how shares of some companies that reported earnings this morning are performing. Overall stocks wobbled in early trading after reaching record highs the day before. Google (GOOG) shares were also down fractionally and Tesla (TSLA) stock gained about 1% ahead of their highly anticipated reports on Wednesday. Expect more volatility as companies report, Annex Wealth Management chief economist Brian Jacobsen told Yahoo Finance on Friday. "Earnings misses are going to get punished a lot more than usual. I don't think investors have the patience to really deal with companies that are missing any of those estimates." See the latest stock moves and market action as earnings roll in. PulteGroup, D.R. Horton stocks soar as homebuilders share cautious optimism Shares of PulteGroup (PHM) and D.R. Horton (DHI) soared in afternoon trading Tuesday after the homebuilders reported earnings that surprised to the upside. PulteGroup rose 8% while D.R. Horton spiked 14% after both companies indicated that conditions were improving for the industry, which has been beset by higher building costs, rising mortgage rates, and cautious consumers this year. In the companies' earnings calls, D.R. Horton CEO Paul Romanowski noted a reduction in its "stick and brick costs" and said the company wasn't having labor availability issues. Similarly, PulteGroup CFO James Ossowski highlighted that the company does not see as large a tariff impact as it did previously. "During our Q1 call, we indicated a potential impact of tariffs of approximately $5,000 per unit that could hit in the latter part of Q4," Ossowski said. "At this time, we now expect any impact from tariffs in Q4 to be lower..." PulteGroup CEO Ryan Marshall also noted that a drop in mortgage rates in the last two weeks of June stimulated activity, though the housing market still remains uncertain as affordability challenges weigh on many would-be buyers. Shares of PulteGroup (PHM) and D.R. Horton (DHI) soared in afternoon trading Tuesday after the homebuilders reported earnings that surprised to the upside. PulteGroup rose 8% while D.R. Horton spiked 14% after both companies indicated that conditions were improving for the industry, which has been beset by higher building costs, rising mortgage rates, and cautious consumers this year. In the companies' earnings calls, D.R. Horton CEO Paul Romanowski noted a reduction in its "stick and brick costs" and said the company wasn't having labor availability issues. Similarly, PulteGroup CFO James Ossowski highlighted that the company does not see as large a tariff impact as it did previously. "During our Q1 call, we indicated a potential impact of tariffs of approximately $5,000 per unit that could hit in the latter part of Q4," Ossowski said. "At this time, we now expect any impact from tariffs in Q4 to be lower..." PulteGroup CEO Ryan Marshall also noted that a drop in mortgage rates in the last two weeks of June stimulated activity, though the housing market still remains uncertain as affordability challenges weigh on many would-be buyers. Coca-Cola earnings lifted by strong demand in Europe Coca-Cola demand in Europe, the Middle East, and Africa helped lift the company's revenue for the second quarter, offsetting weakness everywhere else. Yahoo Finance's Brooke DiPalma reports: Coca-Cola's Europe, Middle East, and Africa geography accounts for roughly 24% of the company's revenue, while North America represents about 40% of revenue. Read more here. Coca-Cola demand in Europe, the Middle East, and Africa helped lift the company's revenue for the second quarter, offsetting weakness everywhere else. Yahoo Finance's Brooke DiPalma reports: Coca-Cola's Europe, Middle East, and Africa geography accounts for roughly 24% of the company's revenue, while North America represents about 40% of revenue. Read more here. Northrop Grumman stock pops after boost to 2025 profit outlook Northrop Grumman's (NOC) shares jumped over 7% after it raised its full-year forecast on the heels of strong quarterly profit and revenue beats. The aerospace and defense giant has lifted its outlook as geopolitical tensions sustain demand for its defense products. Beyond that, the company is in talks to support the planned Golden Dome missile system. The Trump administration is searching for new partners for the project as tensions with Elon Musk threaten SpaceX's dominance, Reuters reported. Northrop Grumman reported second quarter earnings of $8.15 a share, versus $6.82 expected. Revenue came in at $10.35 billion, well above the $10.05 billion consensus view. Reuters reported: Read more here. Northrop Grumman's (NOC) shares jumped over 7% after it raised its full-year forecast on the heels of strong quarterly profit and revenue beats. The aerospace and defense giant has lifted its outlook as geopolitical tensions sustain demand for its defense products. Beyond that, the company is in talks to support the planned Golden Dome missile system. The Trump administration is searching for new partners for the project as tensions with Elon Musk threaten SpaceX's dominance, Reuters reported. Northrop Grumman reported second quarter earnings of $8.15 a share, versus $6.82 expected. Revenue came in at $10.35 billion, well above the $10.05 billion consensus view. Reuters reported: Read more here. D.R. Horton third-quarter results top estimates on incentives push D.R. Horton (DHI) stock rose 6% before the bell after the homebuilder reported third quarter profit and revenue above estimates. On an adjusted basis, D.R. Horton's earnings came in at $3.36 per share as buyer incentives sustained home sales amid high interest rates and rising costs. Analysts were expecting earnings of $2.88 a share, according to data compiled by LSEG. Reuters reports: Read more here. D.R. Horton (DHI) stock rose 6% before the bell after the homebuilder reported third quarter profit and revenue above estimates. On an adjusted basis, D.R. Horton's earnings came in at $3.36 per share as buyer incentives sustained home sales amid high interest rates and rising costs. Analysts were expecting earnings of $2.88 a share, according to data compiled by LSEG. Reuters reports: Read more here. Philip Morris stock sinks after revenue miss Malboro-maker Philip Morris (PM) missed on second quarter revenue estimates as cigarette sales slipped and it shipped fewer Zyn nicotine packages than expected. Reuters reports: Read more here. Malboro-maker Philip Morris (PM) missed on second quarter revenue estimates as cigarette sales slipped and it shipped fewer Zyn nicotine packages than expected. Reuters reports: Read more here. Coca-Cola tops Q2 estimates on steady soda demand, plans cane sugar-based products Coca-Cola (KO) beat Wall Street's second quarter revenue and profit estimates on Tuesday, as steady soda demand and higher prices boosted profits. The stock was down about 0.7% in afternoon trading. Notably, the company said it plans to launch an offering made with US cane sugar under its trademark Coca-Cola product range this fall. In recent days, President Trump said that the company agreed to use cane sugar in its products, which Coke didn't confirm at the time. Here's what Coca-Cola reported, per Reuters: Read more here. Coca-Cola (KO) beat Wall Street's second quarter revenue and profit estimates on Tuesday, as steady soda demand and higher prices boosted profits. The stock was down about 0.7% in afternoon trading. Notably, the company said it plans to launch an offering made with US cane sugar under its trademark Coca-Cola product range this fall. In recent days, President Trump said that the company agreed to use cane sugar in its products, which Coke didn't confirm at the time. Here's what Coca-Cola reported, per Reuters: Read more here. RTX cuts 2025 profit forecast as tariff costs weigh US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. US aerospace and defense giant RTX (RTX) cut its 2025 profit forecast on Tuesday, citing President Trump's trade war as the major reason. Shares of the company fell 3% in premarket trading. Reuters reports: Read more here. GM stock falls as Trump tariffs take $1B bite out of earnings US automaker General Motors (GM) stock fell over 7.5% on Tuesday after reporting a fall in second quarter core profit of 32% to $3 billion. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. US automaker General Motors (GM) stock fell over 7.5% on Tuesday after reporting a fall in second quarter core profit of 32% to $3 billion. The automaker said tariffs have sapped $1.1 billion from results as it continues to grapple with President Trump's challenging trade war. Reuters reports: Read more here. Eyes on the earnings 'broadening' beyond Big Tech Earnings reports from "Magnificent Seven" tech stocks kick off this week with the quarterly releases from Tesla (TSLA) and Google (GOOG). Yahoo Finance's Josh Schafer notes that once again, that cohort is expected to lead S&P 500 earnings growth this quarter. He writes: Read more here. Earnings reports from "Magnificent Seven" tech stocks kick off this week with the quarterly releases from Tesla (TSLA) and Google (GOOG). Yahoo Finance's Josh Schafer notes that once again, that cohort is expected to lead S&P 500 earnings growth this quarter. He writes: Read more here. Trump Media stock surges after acquiring $2 billion of bitcoin The stock of President Trump's namesake media group rose 6% Monday morning after it announced it had purchased $2 billion in bitcoin (BTC-USD) and related securities, Yahoo Finance's David Hollerith reports. Hollerith writes: Trump Media and many other firms — GameStop (GME), for example — have followed in the footsteps of Michael Saylor's software firm turned crypto giant, Strategy (MSTR), buying up bitcoin to hold on their balance sheet in the hopes of replicating MSTR's stock price success. The move from Trump Media follows the House's passage of a trio of crypto bills last week, including the first federal framework for dollar-backed stablecoins. Read more about DJT's rise on Monday here. The stock of President Trump's namesake media group rose 6% Monday morning after it announced it had purchased $2 billion in bitcoin (BTC-USD) and related securities, Yahoo Finance's David Hollerith reports. Hollerith writes: Trump Media and many other firms — GameStop (GME), for example — have followed in the footsteps of Michael Saylor's software firm turned crypto giant, Strategy (MSTR), buying up bitcoin to hold on their balance sheet in the hopes of replicating MSTR's stock price success. The move from Trump Media follows the House's passage of a trio of crypto bills last week, including the first federal framework for dollar-backed stablecoins. Read more about DJT's rise on Monday here. Cleveland-Cliffs reports smaller loss than expected, says tariffs are having 'positive impact' On Monday, Cleveland-Cliffs (CLF) posted a narrower-than-expected earnings loss and revenue that was roughly in line with estimates. Cleveland-Cliffs' earnings came in at $0.50 per share, compared to consensus estimates of a $0.68 per share loss, as compiled by S&P Global. The US-based company, which supplies steel to several automakers, said it's benefiting from President Trump's protectionist policies and 25%-50 tariffs on foreign steel imports. "We have started to see the positive impact that tariffs have on domestic manufacturing, protecting domestic jobs and national security," CEO Lourenco Goncalves said in a statement. "We expect this trend to continue, promoting the resurgence of the American automotive industry supported by a thriving domestic steel industry.' Shares of the steelmaker rose more than 5% at the market open. On Monday, Cleveland-Cliffs (CLF) posted a narrower-than-expected earnings loss and revenue that was roughly in line with estimates. Cleveland-Cliffs' earnings came in at $0.50 per share, compared to consensus estimates of a $0.68 per share loss, as compiled by S&P Global. The US-based company, which supplies steel to several automakers, said it's benefiting from President Trump's protectionist policies and 25%-50 tariffs on foreign steel imports. "We have started to see the positive impact that tariffs have on domestic manufacturing, protecting domestic jobs and national security," CEO Lourenco Goncalves said in a statement. "We expect this trend to continue, promoting the resurgence of the American automotive industry supported by a thriving domestic steel industry.' Shares of the steelmaker rose more than 5% at the market open. Stellantis warns of $2.7B loss for 1H amid tariff headwinds Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. Reuters reports: Read more here. Big Three automaker Stellantis (STLA) warned on Monday that it expects a 2.3 billion euro ($2.7 billion) net loss for the first half of 2025, hit by restructuring costs, ebbing sales, and an initial hit from US tariffs. Reuters reports: Read more here. 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
Yahoo
34 minutes ago
- Yahoo
AT&T subscriber additions top estimates as group notes savings from new tax law
- AT&T posted better-than-anticipated wireless subscriber additions in the second quarter on Wednesday, as the telecoms group pushes to entice customers with options that bundle high-speed fiber offerings and 5G mobile services. The U.S. wireless carrier, which has been grappling with intense competition from the likes of Verizon (NYSE:VZ) and T-Mobile, reported 401,000 net monthly bill-paying wireless phone subscribers. Bloomberg consensus forecasts had called for 300,876. Like Verizon, AT&T (NYSE:T) also said that it expects to see a boost from new tax laws in President Donald Trump's signature fiscal policy bill, which was signed into law earlier this month. Included in the legislation is a section allowing firms to immediately write off the full cost of some new equipment. AT&T said it now anticipates $6.5 billion to $8 billion in cash tax savings during its 2025-2027 financial years, relative to the guidance it provided at its investor day last year. This will translate into savings of $1.5 billion to $2 billion in 2025, followed by reduced expenses of $2.5 billion to $3 billion in 2026 and 2027. A total of $3.5 billion of savings will then be invested into AT&T's network to accelerate the build-out of its fiber internet capabilities. AT&T and its peers have been racing to bolster their fiber-optic assets in order to tap into growing consumer data use. Still, AT&T maintained its long-term financial outlook. Earlier this week, Verizon lifted the lower end of its annual profit guidance. During the second quarter, AT&T's adjusted core earnings came in at $11.7 billion on revenue of $30.8 billion, compared with estimates of $11.6 billion and $30.43 billion, respectively. Shares of AT&T were lower in premarket U.S. trading. Related articles AT&T subscriber additions top estimates as group notes savings from new tax law Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett After soaring 149%, this stock is back in our AI's favor - & already +25% in July 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
Yahoo
an hour ago
- Yahoo
Healey signs agreement paving way for export of Typhoon jets to Turkey
The Defence Secretary has signed an agreement paving the way for the export of Typhoon fighter jets to Turkey. John Healey and Turkish counterpart Yaşar Guler signed a memorandum of understanding at the International Defence Industry Fair in Istanbul. It comes after the German government reportedly cleared the path for the delivery of 40 Typhoon Eurofighter jets to Turkey. 'Today's agreement is a big step towards Turkiye buying UK Typhoon fighter jets,' Mr Healey said. 'It shows this government's determination to secure new defence deals, building on our relationships abroad to deliver for British working people. 'Equipping Turkiye with Typhoons would strengthen Nato's collective defence, and boost both our countries' industrial bases by securing thousands of skilled jobs across the UK for years to come.' More than a third of each aircraft will be manufactured in the UK, with final assembly taking place at the BAE Systems site in Lancashire. The Typhoon jet programme is a partnership with Germany, Spain and Italy. Germany's security council has signed off on a Turkish request to buy the jets, which will use German parts, Der Spiegel reported, and has informed Turkish and Greek leaders of the decision. The programme supports 20,000 jobs in the UK. The RAF's own fleet of Typhoons is being upgraded over the next 15 years.
