Trump's Visa Havoc Strands Students Weeks Before Classes Start
Arizona State University's president said 1,000 incoming international students still need visas, a hit to the school's budget he estimates would be in the 'tens of millions of dollars.' Furman University in South Carolina is already expecting lower enrollment in the fall due to the situation abroad. Other schools are providing contingency plans, like allowing their international pupils to start their first semester in London.
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26 minutes ago
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Epstein victims accuse Trump administration of trying to protect wealthy, powerful enablers
NEW YORK — Women who allege Jeffrey Epstein abused them have accused the Trump administration, in new court filings, of trying to protect enablers of the well-connected wealth manager and criticized the government for treating victims as pawns 'in political warfare.' In letters filed late Monday with Manhattan Federal Judge Richard Berman — one of the judges who are mulling requests by the government to unseal transcripts from the grand jury proceedings against Epstein and his convicted accomplice Ghislaine Maxwell — two women took aim at the Trump administration for its handling of the snowballing scandal. They referenced the memo released last month by the Justice Department and the FBI, in which the government declined to shed light on a trove of records gathered in Epstein investigations and concluded a major review found there was no 'client list' and that Epstein killed himself, contrary to conspiracy theories previously peddled by Trump's appointees. 'I feel like the DOJ's and FBI's priority is protecting the 'third-party,' the wealthy men, by focusing on scrubbing their names off the files of which the victims, 'know who they are'. To learn that our own president has utilized thousands of agents to protect his identity and these high-profile individuals is monumentally mind-blowing,' an anonymous victim wrote in one of the letters. The letter to Berman later added, 'I think what I would request from you, Your Honor, is to consider having an approved third party review these documents to ensure that NO victims' names or likenesses are revealed through this release. It is imperative with the scrutiny over this media frenzy that the victims are completely and entirely protected.' In another letter, a second victim addressed the government: 'What you have done and continue to do is eating at me day after day as you help to perpetuate this story indefinitely. Why not be completely transparent? Show us all the files with only the necessary redactions! Be done with it and allow me/us to heal. You protect yourself and your powerful and wealthy 'friends' (not enemies) over the victims, why? The victims know the truth, we know who are in the files and now so do you.' The second letter urged Berman to let victims' attorneys review what the Justice Department wants to redact from the grand jury transcripts the DOJ is trying to unseal and slammed the government for recently meeting with Maxwell behind bars to get more information. 'I regrettably feel the need to come forward and shed some light on the government's motion to unseal transcripts, documents and exhibits from the 'case' that was never tried. Sad to say, for the victims we never got our day in court. Apparently, Epstein killed himself under whose watch? Oh, was it Trump's DOJ? Hmmm, interesting,' the second letter read. 'I ask you to have our attorneys review the 'suggested' redactions as they are the ones who also know the victims, their names, their truths and their stories unlike the Unites States Government who did not and does not even care to know our truth. They would rather ask a convicted imprisoned sex trafficker/abuser for information.' The Epstein files scandal has only continued to grow as the Trump administration has sought to contain it. Following the memo by the Justice Department and FBI, The Wall Street Journal reported that Trump's name was included in the government's nonpublic Epstein files and that he'd been informed of such, and that Trump wrote a cryptic message to Epstein on the financier's 50th birthday. Trump has denied writing the birthday missive and is suing The Wall Street Journal. The transcripts from the grand jury proceedings against Maxwell that Trump's appointees are trying to get unsealed contain little information that is not publicly known, the government said in court filings Tuesday. The public record does not include substantive exhibits shown to the grand jurors who indicted Maxwell. Still, the Justice Department is not, for now, trying to make them public, according to the new Manhattan Federal Court filings. Trump's appointees discussed the materials in response to requests for more information from Berman and Judge Paul Engelmayer, who will rule on the motions to unseal grand jury transcripts. They included sealed annotated transcripts from Maxwell's grand jury proceedings, specifically outlining what's not publicly available. In an accompanying letter, the Justice Department conceded 'much of the information' within was revealed at the British former socialite's trial in late 2021 or had otherwise been reported in accounts shared by victims and witnesses publicly. The government filing asked the judges to give the Justice Department until Friday to take a position on whether grand jury exhibits should be unsealed. In an order later Tuesday, Engelmayer granted the request. Engelmayer on Tuesday also ordered the Justice Department to respond to letters submitted from the victims about the disclosure requests. The Epstein grand jury met on June 18, 2019, and July 2, 2019, according to Tuesday's filings. The disgraced financier was arrested on July 6 that year on sweeping sex trafficking charges alleging he had for years abused dozens of teen girls and young women, more than a decade after he evaded justice in a maligned sweetheart deal with federal prosecutors in Florida. He was found dead a month after his arrest on Aug. 10, 2019, in his jail cell at the federal Metropolitan Correctional Center in Manhattan, with his death ultimately ruled as a suicide. The Maxwell grand jury met on June 29, 2020, July 8, 2020, and March 29, 2021, the Justice Department said in the new filings. She was indicted on July 2, 2020, and found guilty of sex trafficking counts, including one involving a minor, in December 2021. Maxwell was sentenced to 20 years in prison following her conviction, a term she had been serving at FCI Tallahassee, Fla., until her surprise transfer last week to a much cushier setup in a dormitory-style prison for women in Bryan, Texas, after meeting with Deputy Attorney General Todd Blanche, Trump's former personal lawyer, who framed the meetup as a truth-seeking mission. Tuesday's filings by the Justice Department said the government had failed to make contact with one victim of Epstein whose name featured in grand jury proceedings about the disclosure requests and would try to contact other victims who weren't identified in transcripts in the coming days. _____
Yahoo
26 minutes ago
- Yahoo
Ralph Norman shares priorities as South Carolina governor race heats up
Congressman Ralph Norman has represented York, Lancaster and Chester counties since 2017, but now he says he's ready to serve the entire state as governor. Norman told Channel 9's Tina Terry that he has a long to-do list if he's elected governor, including improving roads and bridges across the state and preparing for growth. "What I will focus on is roads, roads, roads, it's not a sexy issue, but we're D rated in just about every area of infrastructure. We're insufficient and it hasn't been a focus of the general assembly for the last 30-40 years," Norman told Terry. Norman says state roads have been on the back burner for too long, but he plans to prioritize them. 'We lead the nation in fatalities. 50 percent of our roads have to change completely and I will change that,' he said. Norman says he'd also implement term limits for state lawmakers, focus on tort reform, change how judges are elected in the state, and get rid of what he calls political corruption in Columbia. CATCH UP >> The Political Beat on Channel 9 'Legislators voting themselves an 80 percent pay raise at the close of session and the voters didn't have a say so, to me that's corruption,' Norman said. The Rock Hill native started his political career back in South Carolina's House in 2005. He went on to serve the South Carolina 5th Congressional District, where he says he's shown himself to be a true conservative. 'I've been accused of being an obstructionist. Anything I've done is on the conservative end, making sure taxpayers are represented. It's their money. One of the hardest things for me has been the government thinking it's their money and it's not,' Norman said. He says he's confident about his chances in the race. Current Gov. Henry McMaster is term-limited and can't run again. In addition to Norman, Rep. Nancy Mace has declared her candidacy for the governor's race. South Carolina Attorney General Alan Wilson, state Senator Josh Kimbrell, and Lt. Gov. Pamela Evette have all declared their candidacies for the Republican primary. (VIDEO >> Carolina Strong: South Carolina free cafe serves thousands of meals amid rising need) Solve the daily Crossword
Yahoo
26 minutes ago
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Earnings live: AMD, Rivian, Lucid, Snap, and Super Micro Computer stocks fall after quarterly results
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 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. 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. Marriott cuts 2025 revenue forecast on soft travel demand Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Pfizer beats Q2 earnings estimates, reaffirms 2025 outlook Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Mazda forecasts nearly $1 billion profit hit from US tariffs Reuters reports: Read more here. BP vows to do better for investors as profit tops forecast Reuters reports: Read more here. Diageo delivers on annual forecasts, shares jump Reuters reports: Read more here. Dan Ives: Palantir's 'transformational' quarter paves way for $1 trillion market cap Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Hims & Hers stock tumbles on revenue miss Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Palantir stock surges after company reports first billion-dollar quarter Yahoo Finance's Jake Conley reports: Read more here. Post-earnings stock moves are more volatile than usual this quarter We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. BioNTech shares rise 4% on better-than-expected earnings US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." 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. Marriott cuts 2025 revenue forecast on soft travel demand Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Marriott (MAR) signaled it's seeing a slowdown in travel demand amid economic pressures, but more affluent consumers remain more resilient. The hotel chain's adjusted diluted EPS totaled $2.65, compared to estimates of $2.61, according to S&P Global Market Intelligence consensus estimates. Revenue per room increased 1.5% globally during the quarter. For the full year, Marriott forecast room revenue growth of 1.5% to 2.5%, moving its previous higher-end estimate of a 3.5% increase lower. 2025 adjusted profit is expected to be between $9.85 and $10.08 per share, also slightly lower than its earlier projection of $9.82 to $10.19 per share. Reuters reports: Read more here. Pfizer beats Q2 earnings estimates, reaffirms 2025 outlook Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Pfizer reported an earnings and revenue beat on Tuesday, sending shares higher in premarket trading. For the quarter, Pfizer posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Mazda forecasts nearly $1 billion profit hit from US tariffs Reuters reports: Read more here. Reuters reports: Read more here. BP vows to do better for investors as profit tops forecast Reuters reports: Read more here. Reuters reports: Read more here. Diageo delivers on annual forecasts, shares jump Reuters reports: Read more here. Reuters reports: Read more here. Dan Ives: Palantir's 'transformational' quarter paves way for $1 trillion market cap Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Wedbush tech analyst and Palantir (PLTR) bull Dan Ives said he sees the AI software company reaching a trillion-dollar market cap in the next two to three years. "This is transformational, the type of growth they're seeing," Ives said of Palantir's first billion-dollar quarter for revenue, comparing the company to AI-forward Big Tech behemoths like Nvidia (NVDA) and Microsoft (MSFT). "You combine that with what we saw last week from the hyperscalers, that just shows us this AI revolution — it's just started in terms of the next stage of growth," Ives added. Listen to Palantir's earnings call live on the stock page here. Hims & Hers stock tumbles on revenue miss Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Shares of Hims & Hers (HIMS) slid 11% in after-hours trading following the telehealth company's second quarter results and revenue miss. Earnings came in at $0.17 per share, a slight beat over estimates for $0.16 per share, according to S&P Global Market Intelligence. Second quarter revenue rose 73% year over year, reaching $544.83 million. But it fell short of Wall Street's estimates for $552 million in sales. The company affirmed its full-year guidance of $2.3 billion to $2.4 billion in sales. For the third quarter, it expects $570 million to $590 million in sales. In June, Novo Nordisk (NVO) announced it was terminating an agreement to sell its blockbuster GLP-1 drug Wegovy on the Hims & Hers platform. Investors will be looking to the earnings call for more details on the fallout. Novo Nordisk also cut its sales forecasts for its weight-loss drugs, citing rivals selling compounded versions, such as Hims & Hers. Listen to the earnings call live. Palantir stock surges after company reports first billion-dollar quarter Yahoo Finance's Jake Conley reports: Read more here. Yahoo Finance's Jake Conley reports: Read more here. Post-earnings stock moves are more volatile than usual this quarter We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. We're two-thirds of the way through earnings season, and for the most part, the market has floated higher on a flurry of earnings releases. Though some individual reports have led to outsized moves. Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. BioNTech shares rise 4% on better-than-expected earnings US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." US-listed shares of the German drugmaker BioNTech (BNTX) rose about 4% in early trading Monday after the company reported better-than-expected second quarter results as it looks to regain momentum after a post-COVID slump. BioNTech reported a loss of 1.60 euros per share, narrower than the 1.69 euro loss analysts expected, according to data from S&P Global Market Intelligence. Revenue of 260.8 million euros ($301 million) fell short of estimates of 263.68 million euros ($304 million). In June, BioNTech announced it would partner with Bristol Myers Squibb (BMY) on a new cancer treatment. "We aim to establish BNT327 both as a new standard of care across multiple tumor types," BioNTech CEO Ugur Sahin said on the company's earnings call. "We are currently advancing BNT327 across more than 10 indications, including two global registrational trials, with more planned. Our early conviction around this modality and BNT327 has put us in a strong position, and if approved, we aim to be the first or second to launch in a number of indications to patients in need." 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
