Latest news with #quarterlyreports
Yahoo
2 days ago
- Business
- Yahoo
US stocks end mixed as GM shares tumble and S&P 500 reaches record high
Wall Street shares ended mixed on July 22, with steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.S. trade discussions. GM tumbled after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy. Shares of Ford Motor also fell. NEW YORK, NEW YORK - JANUARY 22: Traders work on the floor of the New York Stock Exchange during morning trading on January 22, 2025 in New York City. Stocks continued an upward swing opening up high a day after the Dow Jones closed up 500 points and the S&P 500 approaching an all-time high. The rise comes after OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Oracle Chairman Larry Ellison made an announcement alongside President Donald Trump that they will create a new company, called Stargate, to grow artificial intelligence infrastructure in the U.S. (Photo by Michael M. Santiago/Getty Images) Tesla climbed a day before its quarterly report, while Alphabet also reporting on Wednesday, also rose. Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 trading around record highs. "The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," said Ross Mayfield, an investment strategy analyst at Baird. Other Big Tech stocks lost ground, with Meta Platforms and Microsoft both closing lower. Shares of RTX dropped after the aerospace and defense giant t from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin tumbled after its quarterly profit plunged by about 80%. U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed August 1 deadline for many countries to reach agreements with the White House approaches. U.S. Treasury Secretary Scott Bessent said he would meet his Chinese counterpart next week to discuss an extension to the August 12 deadline set for tariffs on imports from China. Other trade negotiations appeared stalled, with optimism for a breakthrough deal with India waning and EU officials weighing countermeasures against the United States. According to preliminary data, the S&P 500 gained 4.30 points, or 0.07%, to end at 6,309.90 points, while the Nasdaq Composite lost 81.24 points, or 0.39%, to 20,892.93. The Dow Jones Industrial Average rose 175.77 points, or 0.40%, to 44,498.84. Philip Morris slumped after reporting second-quarter revenue below expectations, as shipments of its ZYN nicotine pouches disappointed investors. Analysts on average expected S&P 500 companies to report a 7% increase in earnings for the second quarter, with technology heavyweights driving much of that gain, according to LSEG I/B/E/S.
Reuters
2 days ago
- Automotive
- Reuters
Wall Street ends mixed; GM slumps as tariffs bite
July 22 (Reuters) - Wall Street shares ended mixed on Tuesday, with steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.S. trade discussions. GM (GM.N), opens new tab tumbled after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy. Shares of Ford Motor (F.N), opens new tab also fell. Tesla (TSLA.O), opens new tab climbed a day before its quarterly report, while Alphabet (GOOGL.O), opens new tab, also reporting on Wednesday, also rose. Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 trading around record highs. "The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," said Ross Mayfield, an investment strategy analyst at Baird. Other Big Tech stocks lost ground, with Meta Platforms (META.O), opens new tab and Microsoft (MSFT.O), opens new tab both closing lower. Shares of RTX (RTX.N), opens new tab dropped after the aerospace and defense giant t from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin (LMT.N), opens new tab tumbled after its quarterly profit plunged by about 80%. U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed August 1 deadline for many countries to reach agreements with the White House approaches. U.S. Treasury Secretary Scott Bessent said he would meet his Chinese counterpart next week to discuss an extension to the August 12 deadline set for tariffs on imports from China. Other trade negotiations appeared stalled, with optimism for a breakthrough deal with India waning and EU officials weighing countermeasures against the United States. According to preliminary data, the S&P 500 (.SPX), opens new tab gained 4.30 points, or 0.07%, to end at 6,309.90 points, while the Nasdaq Composite (.IXIC), opens new tab lost 81.24 points, or 0.39%, to 20,892.93. The Dow Jones Industrial Average (.DJI), opens new tab rose 175.77 points, or 0.40%, to 44,498.84. Philip Morris (PM.N), opens new tab slumped after reporting second-quarter revenue below expectations, as shipments of its ZYN nicotine pouches disappointed investors. Analysts on average expected S&P 500 companies to report a 7% increase in earnings for the second quarter, with technology heavyweights driving much of that gain, according to LSEG I/B/E/S. After last week's mixed economic data, traders have all but ruled out an interest-rate cut from the U.S. Federal Reserve at next week's policy meeting. They now see about a 60% chance of a reduction in September, according to the CME's FedWatch tool.
Reuters
2 days ago
- Automotive
- Reuters
S&P 500 notches record-high close; GM slumps as tariffs bite
July 22 (Reuters) - The S&P 500 eked out a record-high close on Tuesday, following steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.S. trade discussions. GM (GM.N), opens new tab tumbled 8.1% after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy. Shares of Ford Motor (F.N), opens new tab fell about 1%. Tesla (TSLA.O), opens new tab climbed 1.1% a day before its quarterly report, while Alphabet (GOOGL.O), opens new tab, also reporting on Wednesday, rose 0.65%. Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 trading around record highs. "The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," said Ross Mayfield, an investment strategy analyst at Baird. Other Big Tech stocks lost ground, with Meta Platforms (META.O), opens new tab and Microsoft (MSFT.O), opens new tab both losing about 1%. Shares of RTX (RTX.N), opens new tab dropped 1.6% after the aerospace and defense giant t from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin (LMT.N), opens new tab tumbled almost 11% after its quarterly profit plunged by about 80%. U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed August 1 deadline for many countries to reach agreements with the White House approaches. U.S. Treasury Secretary Scott Bessent said he would meet his Chinese counterpart next week to discuss an extension to the August 12 deadline set for tariffs on imports from China. Other trade negotiations appeared stalled, with optimism for a breakthrough deal with India waning and EU officials weighing countermeasures against the United States. The S&P 500 climbed 0.06% to end the session at 6,309.62 points. The Nasdaq declined 0.39% to 20,892.69 points, while the Dow Jones Industrial Average rose 0.40% to 44,502.44 points. Nine of the 11 S&P 500 sector indexes rose, led by healthcare (.SPXHC), opens new tab, up 1.9%, followed by a 1.78% gain in real estate (.SPLRCR), opens new tab. Volume on U.S. exchanges was relatively heavy, with 18.8 billion shares traded, compared with an average of 17.7 billion shares over the previous 20 sessions. Philip Morris (PM.N), opens new tab slumped 8.43% after reporting second-quarter revenue below expectations, as shipments of its ZYN nicotine pouches disappointed investors. Analysts on average expected S&P 500 companies to report a 7% increase in earnings for the second quarter, with technology heavyweights driving much of that gain, according to LSEG I/B/E/S. After last week's mixed economic data, traders have all but ruled out an interest-rate cut from the U.S. Federal Reserve at next week's policy meeting. They now see about a 60% chance of a reduction in September, according to the CME's FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 (. opens new tab by a 4.3-to-1 ratio. The S&P 500 posted 21 new highs and 1 new low; the Nasdaq recorded 73 new highs and 41 new lows.
Reuters
2 days ago
- Automotive
- Reuters
Wall Street mixed; GM slumps as tariffs bite
July 22 (Reuters) - Wall Street shares were mixed on Tuesday, with steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.S. trade discussions. GM (GM.N), opens new tab tumbled almost 7% after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy. Shares of Ford Motor (F.N), opens new tab lost almost 1%. Tesla (TSLA.O), opens new tab climbed 1.2% a day before its quarterly report, while Alphabet (GOOGL.O), opens new tab, also reporting on Wednesday, rose 0.3%. Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 hitting a record high on Monday. "The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," said Ross Mayfield, an investment strategy analyst at Baird. Other Big Tech stocks lost ground, with Meta Platforms (META.O), opens new tab down 1.3% and Microsoft (MSFT.O), opens new tab dipping 0.7%. Shares of RTX (RTX.N), opens new tab dropped 1.3% after the aerospace and defense giant t from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin (LMT.N), opens new tab tumbled 8% after its quarterly profit plunged by about 80%. U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed August 1 deadline for many countries to reach agreements with the White House approaches. U.S. Treasury Secretary Scott Bessent said he would meet his Chinese counterpart next week to discuss an extension to the August 12 deadline set for tariffs on imports from China. Other trade negotiations appeared stalled, with optimism for a breakthrough deal with India waning and EU officials weighing countermeasures against the United States. The S&P 500 was up 0.01% at 6,306.28 points. The Nasdaq declined 0.36% to 20,898.66 points, while the Dow Jones Industrial Average was up 0.23% at 44,425.88 points. Nine of the 11 S&P 500 sector indexes rose, led by healthcare (.SPXHC), opens new tab, up 1.46%, followed by a 1.29% gain in real estate (.SPLRCR), opens new tab. Philip Morris (PM.N), opens new tab slumped 7.3% after reporting second-quarter revenue below expectations, as shipments of its ZYN nicotine pouches disappointed investors. Analysts on average expected S&P 500 companies to report a 7% increase in earnings for the second quarter, with technology heavyweights driving much of that gain, according to LSEG I/B/E/S. After last week's mixed economic data, traders have all but ruled out an interest-rate cut from the U.S. Federal Reserve at next week's policy meeting. They now see about a 60% chance of a reduction in September, according to the CME's FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 (. opens new tab by a 3.8-to-one ratio. The S&P 500 posted 17 new highs and one new low; the Nasdaq recorded 55 new highs and 39 new lows.
Yahoo
6 days ago
- Business
- Yahoo
PNC & AIR are 2 Top Stocks to Watch After Earnings
In a busy week that includes much-anticipated quarterly reports, a pair of standouts among the finance and aerospace sectors shouldn't be overlooked. Sporting a Zacks Rank #2 (Buy), these two top-rated stocks are benefiting from strong business industries and are worthy of investors' consideration after exceeding their quarterly expectations on Wednesday and posting sound growth on their top and bottom lines. PNC's Q2 Results Lead Regional Banks Showcasing steady expansion in terms of loan growth and net interest income, PNC PNC continued to excel as a premier regional bank that sets itself apart through its investment solutions. Because of such, PNC belongs to the Zacks Financial-Investment Bank Industry, which is currently in the top 15% of over 240 Zacks industries. With its performance among the top tier of regional banks, PNC showed positive operating leverage (revenue outpacing expense growth) while accelerating customer acquisition and expansion in high-growth markets. Furthermore, PNC illustrated a strong capital position with a CET1 ratio of 10.5%, a key financial metric that measures a bank's core equity capital relative to its total risk-weighted assets and must be at least 8% for commercial banking institutions. PNC's Q2 sales were up 5% year over year to $5.68 billion, edging estimates of $5.61 billion. Even better, PNC's earnings spiked 16% to $3.85 per share compared to Q2 EPS of $3.30 a year ago. This surpassed the Zacks EPS Consensus of $3.56 by 8% with PNC now exceeding earnings expectations for 10 consecutive quarters. Image Source: Zacks Investment Research Additionally, PNC stock stands out after officially announcing it will be increasing its quarterly dividend by 10 cents to $1.70 per share, with an annual yield currently at a generous 3.51% and well above its industry average of 1.92%. Image Source: Zacks Investment Research AAR Sets the Tone for Aerospace-Defense Expectations Pivoting to the aerospace standout, this sector has been on fire this year in correlation with increased global defense spending, and AAR Corp's AIR results for its fiscal fourth quarter helped justify investors' enthusiasm. At the moment, AAR Corp's Zacks Aerospace-Defense Equipment Industry is in the top 30% of all Zacks industries. As a brief overview, AAR Corp is headquartered in Illinois and was incorporated in 1951, providing various products and services to the aviation and defense industries worldwide. Notably, AAR Corp's principal customers include The Boeing Company BA and Airbus Group EADSY. AAR Corp's Q4 sales were up 15% to $754.5 million and impressively topped estimates of $691.02 million by 9%. Taking advantage of increased demand, AAR Corp's Q4 earnings soared 32% to $1.16 per share from EPS of $0.88 in the comeparative quarter. More impressive, AAR Corp comfortably surpassed its Q4 earnings expectations of $1.00 per share and has now reached or exceeded the Zacks EPS Consensus for a remarkable 30 consecutive quarters, dating back to March of 2018. Image Source: Zacks Investment Research As one of the market's top performers this year, AAR Corp's stock is up +40% in 2025 and is sitting on gains of more than +100% in the last three years, with the company's quarterly earnings consistency also illustrated by the green arrows in the Price, Consensus, and EPS Surprise chart below. Image Source: Zacks Investment Research Conclusion & Final Thoughts Following their strong quarterly results, what further makes PNC and AAR Corp's stock stand out is their attractive valuations, with both checking a 'B' Zacks Style Scores grade for Value. Trading at very reasonable forward earnings multiples of less than 17X, respectively, PNC and AAR Corp's stock also trade well under the optimum level of less than 2X forward sales. Keeping this in mind, investors certainly shouldn't overlook their impressive reports, making now a good time to buy these top-rated stocks. 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 The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report AAR Corp. (AIR) : Free Stock Analysis Report The Boeing Company (BA) : Free Stock Analysis Report Airbus Group (EADSY) : 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
