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Business Insider
29 minutes ago
- Business
- Business Insider
UnitedHealth suspends outlook, Under Armour reports Q4 beat; Morning Buzz
The S&P 500 was higher near noon amid renewed optimism over a temporary trade agreement between the U.S. and China. The Dow Jones Industrial Index was the only major index in the red, as it was dragged down by UnitedHealth after news of a CEO change and a suspension of guidance amid rising medical costs. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Looking to commodities, the price of gold was fractionally higher, rebounding somewhat from recent losses. Oil prices were sharply higher again, continuing the commodity's recent rally after a dismal April. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: 2. WALL STREET CALLS: Peloton (PTON) upgraded at Macquarie, here's why Monness Crespi upgraded Coinbase (COIN) with Q2 guidance looking 'conservative' Caterpillar (CAT) upgraded to Outperform from Neutral at Baird Barclays double downgraded Enphase Energy (ENPH) to Underweight from Overweight while the stock was also downgraded to Underperform at BNP Paribas Exane and BMO Capital Halozyme (HALO) and J&J (JNJ) had their ratings cut following CMS draft guidance 3. AROUND THE WEB: 5. EARNINGS/GUIDANCE: Honda (HMC) reported FY25 results and provided guidance for FY26 Y-mAbs (YMAB) reported Q1 results, with EPS and revenue beating consensus Bayer (BAYRY) reported Q1 results and confirmed its outlook for 2025 Tencent Music (TME) reported Q1 results, with Executive Chairman Cussion Pang commenting, 'Our strong first-quarter performance… underscores the successful execution of our high-quality growth strategy' (JD) reported Q1 results, with CEO Sandy Xu commenting, 'We saw a strong start to the year' INDEXES: Near midday, the Dow was down 0.36%, or 152.95, to 42,257.15, the Nasdaq was up 1.56%, or 292.34, to 19,000.69, and the S&P 500 was up 0.81%, or 47.09, to 5,891.28.
Yahoo
an hour ago
- Business
- Yahoo
US court blocks Trump from imposing the bulk of his tariffs
A federal court on Wednesday ruled that President Donald Trump overstepped his authority to impose sweeping tariffs that have raised the cost of imports for everyone from giant businesses to everyday Americans. But the administration immediately appealed the decision on Wednesday night, leaving the situation uncertain for consumers and companies and potentially prolonging the battle over whether Trump's import duties will stand – and possibly reshape the global economy. A three-judge panel at the US Court of International Trade, a relatively low-profile court in Manhattan, stopped Trump's global tariffs that he imposed citing emergency economic powers, including the 'Liberation Day' tariffs he announced on April 2. It also prevents Trump from enforcing his tariffs placed earlier this year against China, Mexico and Canada, designed to combat fentanyl coming into the United States. The court ruled in favor of a permanent injunction, potentially grinding Trump's global tariffs to a halt before 'deals' with most other trading partners have even been reached. The court ordered a window of 10 calendar days for administrative orders 'to effectuate the permanent injunction.' That means the bulk – but not all – of Trump's tariffs would be put in a standstill if the ruling holds up in appeal and, potentially, with the Supreme Court. The order halts Trump's 30% tariffs on China, his 25% tariffs on some goods imported from Mexico and Canada, and the 10% universal tariffs on most goods coming into the United States. It does not, however, affect the 25% tariffs on autos, auto parts, steel or aluminum, which were subject to Section 232 of the Trade Expansion Act – a different law than the one Trump cited for his broader trade actions. Stock futures surged on the ruling. Dow futures rose nearly 500 points, or 1.1%. The broader S&P 500 futures were up 1.4%, and Nasdaq futures were 1.6% higher in afterhours trading. The lawsuit was filed by the libertarian legal advocacy group Liberty Justice Center in April and represented wine-seller VOS Selections and four other small businesses that claimed they had been severely harmed by the tariffs. The panel came to a unanimous decision, publishing an opinion on the VOS suit and also one by twelve Democratic states brought against the Trump tariffs. 'We won – the state of Oregon and state plaintiffs also won,' Ilya Somin, a law professor at Scalia Law School, George Mason University and plaintiff lawyer, said to CNN immediately after the ruling. 'The opinion rules that entire system of liberation day and other IEEPA (International Emergency Economic Powers Act) tariffs is illegal and barred by permanent injunction.' On April 2, Trump announced his 'reciprocal' tariffs, imposing significant levies on imports from some of America's closest trading allies – though he soon after implemented a 90-day pause on April 9. He left in place 'universal' 10% tariffs on most goods coming into the United States. Trump implemented these tariffs without Congress by invoking the International Emergency Economic Powers Act, which gives the president the authority to act in response to unusual and extraordinary threats. But the law does not include any mention of tariffs as a potential action the president can take once IEEPA is invoked. Trump also cited IEEPA in his 20% tariffs on China and 25% tariffs on many goods from Mexico and Canada designed to target fentanyl trafficking into the United States. But the Trump administration has not met that criteria for an emergency, the plaintiffs alleged. The lawsuit also alleges IEEPA doesn't give the president the power to enact tariffs in the first place, and even if it was interpreted to, it 'would be an unconstitutional delegation of Congress's power to impose tariffs,' according to a statement. The court concurred in its ruling that Trump lacked the authority to impose those tariffs even after declaring a national emergency. 'IEEPA does not authorize any of the worldwide, retaliatory, or trafficking tariff orders,' the panel of judges said in their order Wednesday. 'The worldwide and retaliatory tariff orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The trafficking tariffs fail because they do not deal with the threats set forth in those orders.' White House spokesperson Kush Desai said in a statement that: 'It is not for unelected judges to decide how to properly address a national emergency. President Trump pledged to put America First, and the Administration is committed to using every lever of executive power to address this crisis and restore American Greatness.' White House deputy chief of staff for policy Stephen Miller was blunter, posting on X that 'The judicial coup is out of control' in response to the news. Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, called it a 'surprising and spectacular decision.' 'The reason it's a surprise is that if you look at past cases where plaintiffs have tried to challenge the presidential use of extraordinary authority under various laws, the plaintiffs have always lost against the government,' Hufbauer said in an interview with CNN. 'All the president had to do was say, 'national security,' or 'national emergency.' Those are magic words.' The decision could help small businesses across America, many of which had been struggling with the jump in costs from tariffs. 'This is potentially – with that word choice underscored – a significant policy pivot point should it hold up for both the economy and the quiet majority inside Congress that does not support current trade policy,' Joe Brusuelas, RSM US chief economist, wrote in an email to CNN Business. 'In particular, this would provide a huge relief for small and medium sized firms that neither have the margins nor the financial depth to absorb the tariffs on a sustained basis.' The plaintiffs are hopeful they can gain some certainty for their businesses, Jeffrey Schwab, lead attorney for the Liberty Justice Center, told CNN's Kaitlan Collins Wednesday. 'They're hopeful that these will be upheld by the appellate court so that they can continue their businesses with the certainty of what's going to happen rather than the uncertainty of not knowing what the tariff rate is at any given time and whether it will change,' Schwab said. 'Obviously this is a very important case, not only because of the tremendous economic impact that it has on everybody, but particularly business and our businesses, but also because of the tremendous power grab that the administration is claiming here,' Schwab continued. 'He can't just assert unlimited authority to tariff whenever he wants.' The Department of Justice lawyers argued that the tariffs are a political question – meaning it's something that the courts can't decide. But the plaintiffs noted IEEPA makes no mention of tariffs. 'If starting the biggest trade war since the Great Depression based on a law that doesn't even mention tariffs is not an unconstitutional usurpation of legislative power, I don't know what is,' Somin said in April. Separately, and using similar arguments, twelve Democratic states sued the administration in the same court for 'illegally imposing' tax hikes on Americans through the tariffs. 'We brought this case because the Constitution doesn't give any president unchecked authority to upend the economy. This ruling reaffirms that our laws matter, and that trade decisions can't be made on the president's whim,' Oregon Attorney General Dan Rayfield said in a statement Wednesday. The judges on the Manhattan panel were each appointed by a different president. Judge Jane Restani was appointed to the US Court of International Trade by President Ronald Reagan. Judge Gary Katzmann was appointed to the court by President Barack Obama. Judge Timothy Reif was appointed by President Trump. The immediate higher court is the federal circuit, though it could potentially go right to the Supreme Court. The United States Court of International Trade is a federal court in Manhattan that handles disputes over customs and international trade laws. This is a developing story and will be updated. CNN's Matt Egan, Rashard Rose, Mary Kay Mallonee and Alicia Wallace contributed reporting.
Yahoo
an hour ago
- Automotive
- Yahoo
Paccar (PCAR) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest market close, Paccar (PCAR) reached $94.05, with a -0.97% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.56%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq decreased by 0.51%. Shares of the truck maker have appreciated by 5.18% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 16.76% and the S&P 500's gain of 7.37%. Analysts and investors alike will be keeping a close eye on the performance of Paccar in its upcoming earnings disclosure. On that day, Paccar is projected to report earnings of $1.29 per share, which would represent a year-over-year decline of 39.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.81 billion, down 17.63% from the year-ago period. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.70 per share and revenue of $27.88 billion, indicating changes of -27.85% and -11.69%, respectively, compared to the previous year. Investors might also notice recent changes to analyst estimates for Paccar. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.94% decrease. At present, Paccar boasts a Zacks Rank of #5 (Strong Sell). With respect to valuation, Paccar is currently being traded at a Forward P/E ratio of 16.67. This represents a premium compared to its industry's average Forward P/E of 10.66. It is also worth noting that PCAR currently has a PEG ratio of 3.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Automotive - Domestic industry was having an average PEG ratio of 1.11. The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 12% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow PCAR in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PACCAR Inc. (PCAR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
2 hours ago
- Business
- Yahoo
Alphabet (GOOGL) Stock Moves -0.31%: What You Should Know
Alphabet (GOOGL) closed the most recent trading day at $172.36, moving -0.31% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.51%. Heading into today, shares of the internet search leader had gained 7.95% over the past month, lagging the Computer and Technology sector's gain of 11.21% and outpacing the S&P 500's gain of 7.37% in that time. Analysts and investors alike will be keeping a close eye on the performance of Alphabet in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.12, reflecting a 12.17% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $78.86 billion, up 10.51% from the year-ago period. For the full year, the Zacks Consensus Estimates are projecting earnings of $9.47 per share and revenue of $323.73 billion, which would represent changes of +17.79% and +9.69%, respectively, from the prior year. It's also important for investors to be aware of any recent modifications to analyst estimates for Alphabet. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.73% higher. Alphabet is currently a Zacks Rank #3 (Hold). From a valuation perspective, Alphabet is currently exchanging hands at a Forward P/E ratio of 18.26. This indicates a discount in contrast to its industry's Forward P/E of 19.93. We can also see that GOOGL currently has a PEG ratio of 1.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GOOGL's industry had an average PEG ratio of 1.37 as of yesterday's close. The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 34% of over 250 industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOGL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
2 hours ago
- Business
- Yahoo
Comcast (CMCSA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Comcast (CMCSA) ending at $34.63, denoting a -0.92% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.51%. Coming into today, shares of the cable provider had gained 2.98% in the past month. In that same time, the Consumer Discretionary sector gained 10.54%, while the S&P 500 gained 7.37%. The investment community will be paying close attention to the earnings performance of Comcast in its upcoming release. The company is predicted to post an EPS of $1.19, indicating a 1.65% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $29.89 billion, up 0.69% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.36 per share and a revenue of $122.2 billion, signifying shifts of +0.69% and -1.24%, respectively, from the last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Comcast. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Comcast possesses a Zacks Rank of #3 (Hold). Looking at valuation, Comcast is presently trading at a Forward P/E ratio of 8.02. This represents a discount compared to its industry's average Forward P/E of 9.21. Also, we should mention that CMCSA has a PEG ratio of 1.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Cable Television industry currently had an average PEG ratio of 0.45 as of yesterday's close. The Cable Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 162, finds itself in the bottom 35% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comcast Corporation (CMCSA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
