Trump answers question on whether he'll try to run again
During a phone interview on CNBC's "Squawk Box," Trump was discussing Bureau of Labor Statistics job numbers that he argues were "rigged" during the 2024 presidential election to inflate former President Joe Biden's economic performance. While discussing gerrymandering, Trump said he "got the highest vote in the history of Texas" – a claim CNBC anchorman Joe Kernen initially challenged but then admitted a network fact-check showed Trump did get the highest number of votes in Texas.
"I got the highest vote in the history of Texas, a record that they say won't be beaten unless I run again," Trump said.
CNBC anchorwoman Rebecca Quick interjected, "Are you going to run again? The Constitution…"
"No, probably not," Trump responded. "Probably not."
"And you're not going to, and you're not going to fire Jay Powell," Kernen added, referencing tensions between Trump and Federal Reserve Chairman Jerome Powell.
Trump circled back to address Quick directly: "I'd like to run," Trump told the anchorwoman. "I have the best poll numbers I've ever had. You know why. Because people love the tariffs, and they love the trade deals, and they love that countries – they love that foreign countries aren't ripping us off. For years, they ripped us. A friend, and foe and a friend. And the friends were worse."
The 22nd amendment of the U.S. Constitution says a person can be elected president only twice. If someone takes over as president – as a vice president would due to death or resignation – and serves more than two years in that term, the amendment states that person can only be elected president once more. It effectively sets a maximum of 10 years for any person to serve as commander-in-chief.
George Washington set the tradition of stepping down as president after two terms, but the amendment came about in response to Franklin D. Roosevelt's unprecedented four terms. Roosevelt served during the Great Depression and World War II.
Trump earlier this year both teased and distanced himself from the idea of a third term, as some conservative circles have floated changing the 22nd amendment to allow an exception for nonconsecutive presidencies.
Before Trump, the last and only other president to serve two nonconsecutive terms was Grover Cleveland in the late 1800s.
In May, Trump said he considered it a "compliment" that "so many people" wanted him to run in 2028 but said it was not something he was interested in pursuing.
"I have never had requests so strong as that. But it's something to the best of my knowledge, you're not allowed to do," Trump told MSNBC's Kristen Welker. "There are many people selling the 2028 hat, but this is not something I'm looking to do. I'm looking to having four great years, and turn it over to somebody, ideally a great Republican. A great Republican to carry it forward. But I think we're going to have four years, and four years is plenty of time to do something really spectacular."
Trump said he believed the MAGA movement could survive without him, floating Vice President JD Vance and Secretary of State Marco Rubio as potential successors.
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Earnings live: Airbnb beats, DoorDash stock pops, Lyft slides after Uber set the bar high
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 hear from Tyson (TSN), AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), Palantir (PLTR), and more when they report results. Data from FactSet published Friday showed that with 66% of the index having reported results, analysts expect S&P 500 companies to report a 10.3% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. Lyft stock slides after results failed to impress Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Airbnb earnings top estimates, company announces $6 billion in stock buybacks Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. DoorDash stock pops after earnings beat across all metrics as consumers paid up for convenience DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. Shopify stock soars on upbeat forecast, 31% revenue growth Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Uber beats second quarter estimates, unveils $20 billion stock buyback program Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Novavax beats quarterly revenue estimates on milestone payment Reuters reports: Read more here. Novo Nordisk misses Wall Street estimates for Q2 earnings on slower GLP-1 sales Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. McDonald's stock rises after company reverses US sales slump McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. Disney lifts profit outlook as parks, streaming drive Q3 earnings beat Yahoo Finance's Allie Canal reports: Read more here. Honda Q1 profit halves on tariffs, but raises outlook Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Lyft stock slides after results failed to impress Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Lyft (LYFT) stock slid after hours after the ride-hailing company missed second quarter revenue estimates on Wednesday amid heightened competition with Uber (UBER) and weakening demand. However, Lyft raised its guidance for gross bookings in the current quarter to between $4.65 billion and $4.80 billion, well above estimates of $4.59 billion. Here are Lyft's top and bottom line results for the quarter, compared to S&P Global Market Intelligence consensus estimates: Earlier in the day, rival Uber reported it saw trips surge 18% year over year, putting pressure on Lyft to report impressive results. While Uber stock popped earlier in the day, it closed about 0.2% lower on the day. Reuters reports: Read more here. Airbnb earnings top estimates, company announces $6 billion in stock buybacks Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. Airbnb (ABNB) stock wavered in after-hours trading after better-than-expected earnings, a slight guidance lift, and a new $6 billion stock buyback program. The company said it saw stable travel demand and booking lead times in the second quarter despite global economic uncertainty. Net income grew 16% year over year to $642 million, the company reported, with earnings per share coming in at $1.03 versus $0.94 estimated. Revenue rose 13% year over year, reaching $3.1 billion, above estimates for $3.02 billion. For the third quarter, Airbnb expects revenue between $4.02 billion and $4.10 billion, the midpoint of which is higher than analysts' average estimate of $4.05 billion. Airbnb also announced a new stock buyback program to purchase up to an additional $6 billion of Class A common stock. Read more here. DoorDash stock pops after earnings beat across all metrics as consumers paid up for convenience DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. DoorDash (DASH) reported second quarter results that beat on both the top and bottom lines on Wednesday, with its orders also rising more than forecast. Earnings per share came in at $0.65, $0.20 more than the Street had forecast. Adjusted EBITDA reached $655 million in the quarter. Revenue grew 25% year over year to $3.28 billion, compared to the $3.17 billion the Street predicted. Total orders, which means all orders through its marketplaces and commerce platform, also jumped 20% to 761 million in the quarter. That's more than the 749 million analysts had anticipated. Shares rose as much as 3% after the results. Marketplace GOV, which is the total dollar value of transactions completed through the marketplace, including taxes, tips, and fees related to DashPass and its international platform Wolt+, clocked in at $24.2 billion compared to the expected $23.6 billion. Year to date, the stock has been on a tear, up more than 50%, compared to the S&P 500's (^GSPC) 8% gain. The company said total orders were driven by strength in the US restaurant category, as its DashPass membership members ordered more frequently. It added that it continues to "improve the value proposition" for its DashPass membership. DoorDash expects marketplace GOV in the current quarter to come in between $24.2 billion and $24.7 billion. Adjusted EBITDA is expected to fall between $680 million and$780 million in its third quarter. Shopify stock soars on upbeat forecast, 31% revenue growth Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Shopify (SHOP) stock surged 18% before the opening bell after the commerce technology company provided an upbeat forecast and positive results. Gross profit rose to $1.3 billion in the quarter, while revenue reached $2.68 billion, compared to estimates of $2.54 billion. Shopify's second quarter revenue marked a 31% increase from a year ago as the company benefited from investments in product features and artificial intelligence. For the third quarter, Shopify anticipates revenue to grow at a mid-to-high twenties percentage rate on a year-over-year basis. Gross profit dollars are expected to grow at a low-twenties percentage rate annually. 'Today's results are the payoff from bold bets we made years ago,' Shopify president Harley Finkelstein said in a statement. 'The investments we're making now will fuel our next chapter.' Listen to Shopify's earnings call live here. Uber beats second quarter estimates, unveils $20 billion stock buyback program Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Uber (UBER) stock gained around 1% in premarket trading after the ride-hailing company announced a $20 billion stock buyback program and lifted its bookings guidance for the third quarter. Uber's second quarter profits rose to $0.63 per share from $0.47 per share a year ago, roughly in line with estimates. Revenue topped estimates at $12.66 billion for the quarter, compared to $12.46 billion expected. Reuters reports: Novavax beats quarterly revenue estimates on milestone payment Reuters reports: Read more here. Reuters reports: Read more here. Novo Nordisk misses Wall Street estimates for Q2 earnings on slower GLP-1 sales Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. Novo Nordisk (NVO) missed estimates on the top and bottom lines for the second quarter, sending shares about 2.5% lower in premarket trading. The company reported earnings per share of $5.96, falling short of the $6.06 earnings per share Wall Street expected. Revenue barely missed estimates, coming in at $11.95 billion versus estimates of $11.97 billion. Novo Nordisk reported overall sales rose 16% year over year. Yahoo Finance's Anjalee Khemlani reports that its two blockbuster diabetes and weight-loss drugs — Wegovy and Ozempic — brought in about two-thirds of total revenue reported in the quarter, or $7.9 billion. Anjalee writes: Read more here. McDonald's stock rises after company reverses US sales slump McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. McDonald's (MCD) reported a return to sales growth in the second quarter, as global comparable sales jumped 3.8%, above analysts' estimates for a 2.5% increase. US same-store sales increased 2.5% in the company's fiscal second quarter, marking a turnaround from the 3.6% drop in the first quarter and above estimates of 2.3%. US same-store sales fell 0.7% in the same quarter last year. McDonald's stock rose 3.6% in premarket trading. Yahoo Finance's Brooke DiPalma reports: Read more here. Disney lifts profit outlook as parks, streaming drive Q3 earnings beat Yahoo Finance's Allie Canal reports: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Honda Q1 profit halves on tariffs, but raises outlook Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket after the automaker reported a 50% drop in first-quarter operating profit on Wednesday as a stronger yen and the impact of US President Donald Trump's tariffs took its toll, but the company raised its full-year forecast. Reuters reports: Read more here. Opendoor stock plunges on earnings after meme stock rally Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Opendoor (OPEN) stock sank precipitously following earnings. Shares of the iBuyer platform, which has become a retail investor darling in recent weeks, dropped as much as 19% despite beats on the top and bottom lines. The stock went on a wild ride in July as retail trader enthusiasm and a thesis from investor and Carvana spotter Eric Jackson bid up shares. Over the past month, Opendoor stock has climbed over 300%. That might be partly why the stock is selling off on the earnings news. The company reported a loss per share of $0.01 for the quarter, compared to estimates for a loss per share of $0.03. Revenue grew 4% annually to $1.6 billion, also above Wall Street analysts' expectations for revenue of $1.5 billion. For the third quarter, Opendoor forecast revenue from $800 million to $875 million. Snap stock drops on weaker-than-expected revenue growth Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. Snap (SNAP) stock declined nearly 15% after Snap reported its slowest revenue growth in more than a year. The Snapchat-parent's net loss in Q2 increased to $263 million from $249 million a year ago. Second quarter revenue rose 8.1% to $1.34 billion, largely in line with estimates. Reuters reports: Read more here. AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales Yahoo Finance's Daniel Howley reports: Read more here. Yahoo Finance's Daniel Howley reports: Read more here. Super Micro stock tanks after quarterly revenue miss Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Super Micro Computer (SMCI) stock plunged 15% after the company's fiscal fourth quarter revenue fell short of estimates amid intense competition for AI server makers. Here's what Super Micro reported against Wall Street consensus estimates compiled by S&P Global Market Intelligence: Lucid misses on both top and bottom lines, trims production forecast Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian reports mixed Q2 results, widens 2025 loss projection as tariffs and loss of EV tax credit bite Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Tariffs and other policies weighed on Rivian's (RIVN) bottom line in the second quarter. For the quarter, Rivian reported a $0.97 loss per share, compared to $0.77 expected, per Bloomberg consensus estimates, with an adjusted EBITDA loss of $667 million versus $493 million expected. The EV maker also did not report a gross profit. Rivian reported revenue of $1.303 billion, compared to $1.28 billion expected and $1.158 billion a year ago. The company also widened its full-year loss projection but increased its EBITDA guidance. Yahoo Finance's Pras Subramanian reports: Read more here. Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Pure-play EV maker Rivian (RIVN) has been building toward profitability, but the loss of federal EV tax credits expiring at the end of September will likely hurt the company's ability to scale up sales. Yahoo Finance's Pras Subramanian previews what to expect when Rivian reports second quarter earnings after the bell on Tuesday: Read more here. Yum Brands stock falls amid underperformance in the US Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Yum Brands (YUM) stock fell over 3% on Tuesday after an earnings miss and weaker-than-expected sales in the US amid a tougher consumer environment. "Even with a solid overall top line performance, we have opportunities to improve performance in underperforming regions such as the US and parts of Europe, where challenges stem from gaps in value perception, inconsistent consumer experience, and innovation that has not fully resonated with consumers," Yum Brands CEO David Gibbs said on the earnings call. The Taco Bell parent company reported earnings per share of $1.44 adjusted versus $1.46 expected, according to estimates compiled by S&P Global Market Intelligence. Revenue for the quarter hit $1.93 billion, roughly in line with the $1.94 billion expected. US same-store sales for KFC and Pizza Hut fell 5% year over year. US system sales for Taco Bell grew 6%. Lemonade stock jumps on solid guidance Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Lemonade (LMND) stock jumped 8% in premarket trading as the insurance company kicked off its earnings call and reported a narrower loss than expected. In the second quarter, Lemonade posted a loss of $0.60 per share. Analysts were expecting an $0.80 per share loss. Revenue of $164.1 million beat estimates for $160.8 million and rose 34% from the same period a year ago. Gross profit increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%, the company said. Lemonade also raised its full-year revenue guidance to $710 million-$715 million. Listen to the earnings call here. Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Caterpillar (CAT) is expecting a bigger hit from tariffs in the third quarter and the rest of 2025 than it initially projected, as President Trump's tariffs hit the industrial and manufacturing segment especially hard. The company flagged a tariff impact of $400 million to $500 million in the third quarter and $1.5 billion hit from costs tied to US tariffs in 2025. Caterpillar was able to offset some of the higher tariff costs; however, higher interest rates and a slowdown in US construction activity led to a pullback in demand for its products. The heavy machinery manufacturer reported adjusted earnings per share of $4.72 on revenue of $16.6 billion. Analysts were expecting adjusted EPS of $4.90 on revenue of $16.3 billion, according to S&P Global Market Intelligence. Caterpillar stock fell less than 1% in premarket trading. Sign in to access your portfolio
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Trump once hailed mRNA vaccines as a 'medical miracle.' Now RFK Jr. is halting advancement
WASHINGTON (AP) — President Donald Trump hailed as a 'medical miracle' the mRNA vaccines developed to combat the deadly COVID-19 pandemic in 2020. Now, his health secretary Robert F. Kennedy Jr., is effectively halting the vaccine technology's advancement. Kennedy announced Tuesday that the federal government is canceling $500 million worth of mRNA research development contracts, putting an end to U.S.-backed hopes for the vaccine technology to prevent future pandemics, treat cancer or prevent flu infections. It's a sharp pivot from how Trump and top officials described the technology during his first term. Here's a look at what Trump and some of his closest advisers have said about mRNA vaccines that were credited with slowing the pandemic five years ago. Robert Redfield, Trump's director of the Centers for Disease Control 'A COVID-19 vaccine is the thing that will get Americans back to normal everyday life,' said Redfield, in a Sept. 16, 2020, statement. Americans were still donning face masks as one of the few ways of protecting themselves from a virus that had killed nearly 200,000 in just over six months. Redfield promised that the new vaccines — developed for the first time using mRNA technology — would offer a return to normalcy. Trump wanted to make sure Biden didn't get credit 'Don't let Joe Biden take credit for the vaccines ... because the vaccines were me, and I pushed people harder than they've ever been pushed before .. The vaccines are — there are those that say it's one of the greatest things. It's a medical miracle.' Trump said on Nov. 26, 2020, during a news conference in the White House. Weeks earlier, Trump had lost the election in a bitter race against Democrat Joe Biden. As the Republican grappled with leaving Washington and continued to plan for the rollout of the COVID-19 vaccines, he reminded reporters that he oversaw the development of the new shots. 'They say it's somewhat of a miracle and I think that's true,' Trump said on Dec. 8, 2020, during a speech at the Eisenhower Executive Office Building. The event celebrated 'Operation Warp Speed," the government-funded project that accelerated vaccine development with pharmaceutical companies. Trump was promoting the shots as the government prepared to offer them to frontline health workers. Trump's first-term health secretary, Alex Azar 'It's clear that many Americans are learning these vaccines are safe and extraordinarily effective,' Azar said on Dec. 16, 2020, at a news conference. The government was shipping out mRNA vaccines to states, preparing to distributed it to the masses. Azar noted that a vast majority of Americans — between 70% to 80%, according to polls — intended to get the new COVID-19 vaccine that would be available to the public in the coming months. Gen. Gusave Perna, Trump's chief operating officer for pandemic response 'It takes somewhere between five and 10 years to put a vaccine on the street. Look what we did. Now, that's because of the great work of the scientists who had done the research on mRNA vaccines and others because of industry working on this, they just didn't wake up one day and start working on it,' Perna said during a podcast interview that aired on May 9, 2023. Reflecting in an interview about his time overseeing 'Operation Warp Speed,' Perna credited the mRNA technology with the government's ability to get shots in arms mere months after the pandemic started claiming lives in the U.S. in 2020. Trump supporters boo his vaccine accomplishments 'Take credit because we saved tens of millions of lives. Take credit. Don't let them take that away from you,' Trump said on Dec. 19, 2021 during a live interview with former Fox News host Bill O'Reilly. Daily COVID-19 deaths had ticked down to 1,500 compared to 3,000 from a year earlier after Americans began receiving their first doses of the mRNA vaccines. Trump revealed to O'Reilly and the audience that he had just gotten a COVID-19 booster. The crowd booed. Amanda Seitz, The Associated Press
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Elf Beauty tops quarterly estimates on resilient demand for affordable lipsticks and skincare
(Reuters) -Elf Beauty beat first-quarter sales and profit estimates on Wednesday, fueled by resilient demand for its affordable products including lip oils and blush tints at retailers and online channels, despite broader retail slowdown. Shares of the company were up about 5% after the bell. The beauty retailer known for its vegan lip oils — available at drugstores and supermarkets including Walgreens, Target as well as Dollar Tree — has been able to resonate with millennial and Gen Z shoppers, who are often on the hunt for trendy makeup and skincare products. This, in turn, has been benefiting sales growth at Elf — short for eyes, lips and face — offering products priced as low as $2 at U.S. retailers including Walmart and Ulta Beauty. Meanwhile, luxury beauty makers such as Estee Lauder have been struggling to revive demand and the Trump administration's unpredictable trade policy has disrupted business operations worldwide. The company continues to refrain from providing an annual forecast owing to tariff-related uncertainty. Elf, which acquired Hailey Bieber's makeup brand Rhode, increased product prices by $1 across categories starting August 1 to counter trade-related costs, similar to broader industry peers. The company, which has reduced its production from China to "little less" than 75% from about 100% back in 2019, has also been optimizing its supply chain and diversifying its business to be able to address tariff-related headwinds, CEO Tarang Amin told Reuters on Wednesday. The company's quarterly revenue of $353.7 million beat estimates of $350.3 million, as per data compiled by LSEG. On an adjusted basis, the company's earnings came in at 89 cents per share, compared with analysts' estimates of 84 cents per share. 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
