Latest news with #USmarket
Yahoo
4 hours ago
- Business
- Yahoo
Kohl's Stock Jumps as Meme-Stock Traders Eye the Retailer's Shares
Is a beaten-down retailer the newest meme stock? That's one possible explanation for today's jump in shares of Kohl's (KSS), which were recently up some 30% in early trading, leading to a temporary halt in trading. The rise had earlier wiped out a year-to-date slide that had erased roughly a quarter of the company's market value, though the move had cooled a bit from morning highs. The move didn't follow any fresh corporate news, and its next quarterly earnings release isn't imminent. It's possible traders have instead seized on the stock—which is heavily shorted, possibly making it a candidate for a squeeze—as a vehicle for dramatic action, with the shares recently a topic of conversation on Reddit's go-go wallstreetbets forum. Kohl's first-quarter results, published in late May, were better than expected, though they followed on news that the company had fired its CEO not long into the announcement of an ambitious turnaround plan. Wall Street is broadly bearish, with Visible Alpha's mean price target at $8, below Monday's $10.42 per share close. UBS analysts on Monday reiterated a $4 target. Read the original article on Investopedia
Yahoo
5 hours ago
- Automotive
- Yahoo
General Motors Faces Tariffs Heat, Margins Shrink
General Motors Company slumped in Tuesday's premarket session after reporting a sharp drop in adjusted EBIT margins to 6.4% and a whopping $1.1 billion tariff headwind. The auto behemoth registered second-quarter adjusted earnings per share of $2.53, beating the analyst consensus estimate of $2.40. Quarterly sales of $47.12 billion outpaced the Street view of $45.57 billion. Net sales in the Automotive segment totaled $42.869 billion, lower than $44.060 billion in the year-ago the U.S. market, the company's market share rose to 17.4% for the second quarter of 2025, a 0.7 percentage point increase year-over-year. For the first half of 2025, U.S. market share stood at 17.3%, growing at a rate that outpaced the overall industry, according to the company press release. 'In the United States, we continue to lead the industry in full-size trucks and SUVs, and the 10 all-new or redesigned crossover SUVs we have introduced like the Chevrolet Trax, Buick Envista, and GMC Acadia took huge leaps forward in design and technology, resulting in record demand and revenue growth, while reduced complexity contributed to stronger profitability,' said CEO Mary Barra in the company's letter to shareholders. Adjusted EBIT margin contracted to 6.4% in the quarter under review from 9.3% in the year-ago period. Adjusted EBIT decreased to $3.037 billion from $4.438 billion primarily due to a net tariff impact of $1.1 billion, with minimal mitigation offsets. Net income margin contracted to 4% from 6.1%. The firm expects the third quarter net tariff impact to exceed that of the second quarter, driven by the timing of indirect tariff costs. The heavier weighting of these costs in the third quarter will result in a higher overall net impact. View more earnings on GM 'In China, the performance of our new energy vehicles has been especially strong, and in the second quarter, we reported our second consecutive quarter of year-over-year sales growth,' Barra added. 'We gained the most share among foreign OEMs, and we reported positive equity income.' In June, the firm announced $4 billion of new investment in U.S. assembly plants to add 300,000 units of capacity for high-margin light-duty pickups, full-size SUVs, and crossovers. The CEO highlighted that this development will 'unmet customer demand, greatly reduce our tariff exposure, and capture upside opportunities as we launch new models.' The capacity begins coming online in just 18 months, after which General Motors plans to build more than 2 million vehicles in the U.S. each year. The company exited the quarter with cash and equivalents worth $22.381 billion, higher than $19.872 billion as of December 31, 2024. Outlook General Motors affirms FY25 adjusted earnings per share guidance of $8.25-$10.00 versus $9.17 analyst estimate. General Motors is keeping its full‑year 2025 guidance unchanged while planning to offset at least 30% of the $4 billion–$5 billion gross tariff impact. It will achieve this mitigation equally through manufacturing adjustments, targeted cost initiatives, and consistent pricing. Price Action: GM shares are trading lower by 2.43% to $51.77 premarket at last check Tuesday. Read Next:Photo by Jonathan Weiss via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? GENERAL MOTORS (GM): Free Stock Analysis Report This article General Motors Faces Tariffs Heat, Margins Shrink originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
The Guardian
6 hours ago
- Automotive
- The Guardian
GM says second-quarter core profits fell 32% due to Trump's tariffs
General Motors announced Tuesday that Donald Trump's tariffs knocked $1.1bn off its operating income in its last quarter. The US automaker's second-quarter core profit fell 32% to $3bn and said it expects the tariff impact to worsen in the third quarter. The company stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn to $5bn. GM said it could take steps to mitigate at least 30% of that impact. The automaker's revenue in the quarter ending on 30 June fell nearly 2% to about $47bn from a year ago. Shares fell about 3% in premarket trade. In a letter to shareholders, Mary Barra, the chief executive, said GM is 'positioning the business for a profitable, long-term future as we adapt to new trade and tax policies, and a rapidly evolving tech landscape'. GM was among corporations that revised annual guidance due to the impact from Trump's tariffs, lowering it to an annual adjusted core profit of between $10bn and $12.5bn. The company on Tuesday stood by that forecast. Beyond tariffs, GM's underlying business in the quarter was solid. Sales in the US market – its main profit center – rose 7%, while the company continued to command strong pricing on its pickup trucks and SUVs. GM swung back to a small profit in China, after losing money there a year earlier. Jeep-maker Stellantis on Monday warned that tariffs would significantly affect results in the second half of 2025, and said tariffs cost it about $350m.
The Guardian
6 hours ago
- Automotive
- The Guardian
GM says second-quarter core profits fell 32% due to Trump's tariffs
General Motors announced Tuesday that Donald Trump's tariffs knocked $1.1bn off its operating income in its last quarter. The US automaker's second-quarter core profit fell 32% to $3bn and said it expects the tariff impact to worsen in the third quarter. The company stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn to $5bn. GM said it could take steps to mitigate at least 30% of that impact. The automaker's revenue in the quarter ending on 30 June fell nearly 2% to about $47bn from a year ago. Shares fell about 3% in premarket trade. In a letter to shareholders, Mary Barra, the chief executive, said GM is 'positioning the business for a profitable, long-term future as we adapt to new trade and tax policies, and a rapidly evolving tech landscape'. GM was among corporations that revised annual guidance due to the impact from Trump's tariffs, lowering it to an annual adjusted core profit of between $10bn and $12.5bn. The company on Tuesday stood by that forecast. Beyond tariffs, GM's underlying business in the quarter was solid. Sales in the US market – its main profit center – rose 7%, while the company continued to command strong pricing on its pickup trucks and SUVs. GM swung back to a small profit in China, after losing money there a year earlier. Jeep-maker Stellantis on Monday warned that tariffs would significantly affect results in the second half of 2025, and said tariffs cost it about $350m.
Yahoo
a day ago
- Business
- Yahoo
Schwab Expands 24-Hour Trading to 1,100 Securities
KEY TAKEAWAYS Charles Schwab said Monday it is adding more securities, primarily ETFs, for 24-hour trading, bringing the total to 1,100 stocks and funds that retail investors can access outside normal U.S. business hours. Its rivals Robinhood and Intercontinental Exchange have been moving toward extended trading hours that go beyond both the regular session, during which volumes are highest, and the traditional premarket and after-hours sessions. The most traded stocks that Charles Schwab said it has seen since launching 24-hour trading earlier this year are shares of Tesla, AI darling Nvidia, and Chinese EV maker NIO, the company rush to attract the global investor at all hours of the day is on. Charles Schwab (SCHW) said Monday it is adding more securities, primarily ETFs, for 24-hour trading, bringing the total to 1,100 stocks and funds that retail investors can access outside normal U.S. business hours. The online broker extended trading access to its clients for stocks in the S&P 500 and Nasdaq 100, as well as a range of exchange-traded funds, in February. Its rivals Robinhood (HOOD) and Intercontinental Exchange (ICE), have extended trading hours that go beyond both the regular session, during which volumes are highest, and the traditional premarket and after-hours sessions. 'As the pace of interconnected global markets activity increases and market-moving news and events happen outside of regular U.S. market hours, 24-hour trading gives investors flexibility and access that can be critical to take advantage of potential opportunities – as well as helping to manage risk," Charles Schwab Managing Director James Kostulias said. The most-traded stocks that Charles Schwab said it has seen since launching 24-hour trading earlier this year are shares of Tesla (TSLA), AI darling Nvidia (NVDA), and Chinese EV maker NIO (NIO), the company said. Read the original article on Investopedia Sign in to access your portfolio
