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SpaceX finally reveals why its Starship Flight 8 Ship exploded, failure traced to 'flash' in rocket's engines

SpaceX finally reveals why its Starship Flight 8 Ship exploded, failure traced to 'flash' in rocket's engines

Yahoo25-05-2025
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As SpaceX gears up for the ninth test flight of its super-heavy Starship launch vehicle, the company has released findings from its investigation into the explosion of the rocket's upper stage, referred to as "ship", during its eighth test flight in March.
Flight 8 launched March 6 from SpaceX's Starbase manufacturing and test facility on the southern tip of Texas. The mission largely mirrored that of Flight 7, during which the both vehicles' first stage Super Heavy boosters successfully rocketed back to Starbase to be caught by the launch tower's "Mechazilla" chopstick-like arms. Ship, however, for both Flight 7 and Flight 8, did not fare as well as its Super Heavy counterpart. (Starship Flight 9 is scheduled to launch on May 27.)
Flight 7 and Flight 8 each ended in dramatic explosions over the Atlantic Ocean that could be seen from Florida, the Bahamas and Turks and Caicos, raining fiery Starship debris into the drink below. Flight 7's Ship encountered a propellant leak and fire in the spacecraft's "attic," leading to its explosion and loss. Side-by-side, Flight 8 followed a very similar trajectory, but instead of a fire in the attic, Starship's last flight suffered a "flash" in what could be comparatively called its "basement," which brought about its blazing demise.
In this case, "basement" is Ship's business end with six powerful Raptor rocket engines. The flight plan for Starship's eighth launch called for Ship to deploy four dummy payloads simulating SpaceX Starlink satellites about 17.5 minutes after liftoff, followed by a controlled splashdown in the Indian Ocean off of Western Australia roughly 50 minutes later. But it never got the chance to do either, and now we know why.
A "flash" occurred near one of Ship's center, sea-level Raptor engines, followed by an "energetic event" that led to that engine's shutdown, SpaceX said in an update. The two remaining sea-level Raptors immediately terminated their thrust, as well as one of Ship's vacuum-optimized Raptor engines, causing the vehicle to begin tumbling out of control.
About two minutes after the initial flash, SpaceX lost communication with the vehicle, which triggered the spacecraft's automated flight termination software and subsequent self-destruct.
"The most probable root cause for the loss of Starship was identified as a hardware failure in one of the upper stage's center Raptor engines that resulted in inadvertent propellant mixing and ignition," SpaceX wrote.
Super Heavy, too, though successfully returned to Starbase and the warm embrace of "Mechazilla," didn't do so without incident. Only 11 of the Flight 8 booster's 13 engines used for its initial boostback burn were successful in reigniting. Its landing burn as it approached the launch tower saw 12 of 13 engines relight, including one of the previously unlit engines from the boostback burn.
SpaceX traced the cause to "torch ignition issues" on each of the malfunctioning engines, as a result of "thermal conditions local to the igniter," the company said. To mitigate these overheating issues on Starship's upcoming flight, SpaceX says they have reinforced the affected areas with additional insulation.
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Fixes for Starship's upper stage came down to tightening some bolts at some of Ship's more critical junctures and improving the plumbing so flammable gases don't ignite when they aren't supposed to:
"Starship's upper stage will receive additional preload on key joints, a new nitrogen purge system, and improvements to the propellant drain system. Future upgrades to Starship will introduce the Raptor 3 engine which will include additional reliability improvements to address the failure mechanism."
SpaceX says their investigation included more than 100 long-duration test firings of the Raptor engine at the company's McGregor, Texas, test facility, and that its efforts were overseen by the Federal Aviation Administration (FAA), in conjunction with NASA, the National Transportation and Safety Board and the U.S. Space Force. Now, the FAA agrees Starship is ready to fly again.
In a statement released May 22, the FAA says they, "conducted a comprehensive safety review of the SpaceX Starship Flight 8 mishap and determined that the company has satisfactorily addressed the causes of the mishap, and therefore, the Starship vehicle can return to flight."
The same day SpaceX released their Flight 8 investigation results, the company also officially announced the date for Flight 9. Starship's next launch is scheduled for no earlier than Tuesday, May 27, and will be the first launch of a flight-proven Super Heavy booster. Flight 9 will liftoff on the same first stage that supported Starship Flight 7, during a launch window that opens at 7:30 p.m. EDT (2330 GMT).
SpaceX will stream the mission live on their website, as well as their account on X. Space.com will also carry the broadcast on our homepage, starting about 30 minutes before liftoff.
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JCB Awarded $45 Million U.S. Marine Corps Contract for New Backhoe Loader
JCB Awarded $45 Million U.S. Marine Corps Contract for New Backhoe Loader

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JCB Awarded $45 Million U.S. Marine Corps Contract for New Backhoe Loader

Machines offer military-grade performance SAVANNAH, Ga., July 31, 2025 (GLOBE NEWSWIRE) -- JCB, a global leader in construction equipment, has secured a five-year, $45 million contract to provide 4CX backhoe loaders to the United States Marine Corps (USMC). The comprehensive agreement includes not only machines but also attachments testing and hands-on operator training, ensuring mission readiness from the ground up. This latest partnership marks the second major contract between JCB and the U.S. Marine Corps, following a $39 million agreement announced in 2024 for the Multi-Terrain loaders, the militarized version of the JCB Teleskid. It builds on JCB's proven track record of supplying versatile, rugged and dependable equipment to military forces around the world. 'We're proud that, after an extensive evaluation, the Marine Corps has once again selected JCB,' said Richard Fox-Marrs, president and CEO of JCB North America. 'As the world's leading backhoe loader manufacturer, we value this continued partnership and the confidence placed in our ability to deliver machines that meet the highest standards of performance and reliability.' A Machine Built for Mission Success The 4CX backhoe loader selected for this contract combines mission-ready strength with advanced features tailored for tactical and jobsite applications. Central to the 4CX's performance is JCB's side-shift back end with its Powerslide system, which enables precise side-shift movement of the boom. Unlike traditional centermount machines, this system expands the digging envelope by 10% and allows operators to work efficiently in tight areas or alongside walls and obstacles without needing to reposition the machine. This capability increases productivity and minimizes disruption in space-constrained environments. Unlike centermount designs, the side-shift configuration also allows for full outrigger deployment in confined areas, making the 4CX ideal for urban, utility or tactical environments. When stowed, the compact layout reduces overall transport length by more than 4 feet, a 21% space savings during transport. The shorter length when stowed also improves roadability and handling by optimizing weight distribution. With three steer modes for exceptional maneuverability and four equal-sized tires for enhanced flotation on soft ground, the 4CX is designed to perform wherever it's deployed, from remote field operations to urban infrastructure work. Equipped with equal-length boom and dipper arms, the 4CX delivers a maximum digging depth of over 14 feet and a swing reach of more than 17 feet. An integrated lifting point in the tipping link further extends the machine's versatility in material handling applications. 'The 4CX is the direct result of more than 70 years of continuous improvement,' said Chris Giorgianni, vice president of government and defense for JCB North America. 'It's built to perform in the most demanding environments, whether that's military engineering missions or high-pressure construction jobsites.' A Partner to Those Who Serve This latest contract with the U.S. Marine Corps is part of JCB's long-standing support of defense operations around the world. In addition to supplying purpose-built military machines like the High Mobility Engineer Excavator (HMEE) and the Light Capability Rough Terrain Forklift (LCRTF) for frontline deployment with the U.S. Army, JCB also provides proven, field-ready equipment like the 4CX backhoe loader, delivering commercial-grade performance trusted by both military engineers and civilian contractors. That same commitment extends beyond the equipment itself. JCB actively supports service members and veterans through career transition programs, veteran hiring initiatives and national partnerships. The company is a proud supporter of VetsAid and regularly engages in efforts that help former service members build meaningful careers in manufacturing and construction. 'Our relationship with the military runs deep,' said Giorgianni. 'Whether it's delivering purpose-built machines or hiring the heroes who've operated them, we are proud to stand with the men and women who serve.' To learn more about the 4CX backhoe loader and JCB's full line of military-ready and jobsite-proven machines, visit SOCIAL MEDIA: YouTube – @JCBNorthAmerica CE – JCBNA AG – JCBAGNA – JCBNA – @JCBna – JCB North America ABOUT JCB: JCB is a family company founded on October 23, 1945, and is now one of the world's largest privately owned manufacturers of construction, agricultural and defense equipment, with 22 factories around the world. 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For more information, visit MEDIA CONTACT: Arielle WindhamFlint GroupPhone: 701-499-2169Email: Pam VeiockJCB North America Phone: 912-675-1434Email: A photo accompanying this announcement is available at 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

Earnings live: Microsoft, Meta stocks surge with more tech earnings from Apple and Reddit on deck
Earnings live: Microsoft, Meta stocks surge with more tech earnings from Apple and Reddit on deck

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Earnings live: Microsoft, Meta stocks surge with more tech earnings from Apple and Reddit on deck

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 be treated to another flurry of quarterly results from Big Tech companies, including Microsoft (MSFT), Apple (AAPL), Meta (META), and Amazon (AMZN). This week's reports also include updates from Spotify (SPOT), Ford (F), Procter & Gamble (PG), Boeing (BA), Starbucks (SBUX), and Qualcomm (QCOM), among others. Data from FactSet published Friday showed that with 34% of the index having reported results, analysts expect S&P 500 companies to report a 5.6% 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. Microsoft, Meta stocks surge as post-earnings rally adds half a trillion dollars in market value Microsoft (MSFT) and Meta (META) stocks rallied following strong earnings reports on Wednesday that outweighed concerns about artificial intelligence spending. Combined, the two stocks have added about half a trillion dollars in market value since Wednesday's close. Microsoft stock gained 5% at the market open after reporting strength in its cloud and AI businesses. The company joined Nvidia (NVDA) in the $4 trillion market cap club after adding more than $305 billion to its market cap. Meta stock also surged 12% in early trading after advertising revenue grew 22%, surpassing expectations, and its Reality Labs saw a smaller loss than expected. 'The stock moves make sense — the results are that good,' D.A. Davidson head of technology research Gil Luria told Yahoo Finance following Meta's and Microsoft's earnings. 'Meta is gaining significant share in the digital advertising market, … and therefore investors have patience for the capex guidance they're providing.' Apple Q3 earnings to give Wall Street better view of tariff impact Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Unilever's personal care business delivers solid results, but ice cream was the standout Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. AB InBev stock sinks as volumes decline, consumers seek value and no-alcohol options Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry. The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected. Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results. AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry." Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run." In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter. Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure. The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea. "This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said. Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure. 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"We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts. Kellanova misses quarterly profit estimates amid US consumer spending squeeze Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items. "Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters. Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion. Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025. Read more here. Mastercard says consumer remains healthy, beats on earnings Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday. The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%. The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure. Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion. For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens. Read more here from Reuters or listen to the earnings call here. Roblox raises annual bookings forecast as viral hits spur spending boom Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading. Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion. Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising. The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion. Read more here. Bristol Myers posts better-than-expected second quarter results on strength of top sellers Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results. Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected. Shares rose about 3% in premarket trading. Reuters reports: Read more here. CVS beats Wall Street estimates in Q2, marking turnaround for pressured stock Yahoo Finance's Anjalee Khemlani reports: Read more here. 'Epic' boost drives Comcast's quarterly results Reuters reports: Read more here. Carvana posts higher quarterly profit on record car sales Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading Bloomberg reports: Read more here. BMW sticks with guidance despite profit drop, Trump's tariffs German carmaker BMW ( maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals. Reuters reports Read more here. AB InBev shares slide on concern over sales volumes Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares. Reuters reports: Read more here. Profit-taking in Robinhood The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in! Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking. A couple good points on this from Bernstein's Gautam Chhugani this morning: Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference. Qualcomm on the move lower Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket. The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now. This note from HSBC's Ryan Mellor this morning captures it all nicely: This is remarkable on Meta Meta (META) is rocking premarket to the tune of 12% after a monster quarter. Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong): "We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations." Bottom line: bull market... carry on! Microsoft earnings call: A quick take A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella. Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls. "We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said. Arm announces it will develop own chips, forecast fails to impress Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies. Reuters reports: Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost. Shares fell 8% after the market close on Wednesday. Rad more here. Microsoft (MSFT) and Meta (META) stocks rallied following strong earnings reports on Wednesday that outweighed concerns about artificial intelligence spending. Combined, the two stocks have added about half a trillion dollars in market value since Wednesday's close. Microsoft stock gained 5% at the market open after reporting strength in its cloud and AI businesses. The company joined Nvidia (NVDA) in the $4 trillion market cap club after adding more than $305 billion to its market cap. Meta stock also surged 12% in early trading after advertising revenue grew 22%, surpassing expectations, and its Reality Labs saw a smaller loss than expected. 'The stock moves make sense — the results are that good,' D.A. Davidson head of technology research Gil Luria told Yahoo Finance following Meta's and Microsoft's earnings. 'Meta is gaining significant share in the digital advertising market, … and therefore investors have patience for the capex guidance they're providing.' Apple Q3 earnings to give Wall Street better view of tariff impact Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Unilever's personal care business delivers solid results, but ice cream was the standout Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. AB InBev stock sinks as volumes decline, consumers seek value and no-alcohol options Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry. The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected. Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results. AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry." Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run." In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter. Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure. The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea. "This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said. Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure. Anheuser-Busch InBev (BUD) stock is under pressure after the company missed Wall Street's estimates for revenue and volume growth, raising concerns about the overall industry. The stock fell more than 11% on Thursday after overall volumes declined 1.9%, moving in the opposite direction of the 0.05% gain Wall Street projected. Revenue came in at $15 billion, lower than the $15.35 billion metric Wall Street expected. Weaker volumes in China (down 7.4%) and Brazil (down 6.5%) dragged down the quarterly results. AB InBev CEO Michel Doukeris told Yahoo Finance that the business is over-indexed in China to bars and restaurants instead of at-home consumption and the eastern region of the country, causing it to "underperform the industry." Brazil experienced poor weather and a value-seeking consumer, but he said he remains confident in the "industry performance [there] over the long run." In the US, he said consumers are being "choiceful" as the industry overall experienced softness. Sales to retailers fell 2.1% in the quarter. Doukeris said its Busch Light brand is growing as consumers, especially the low-income cohort, seek out value options after years of inflationary pressure. The company is also responding to consumers' focus on health and wellness, with low-calorie brands like Michelob Ultra, and a consumer shift away from alcohol. Doukeris believes the global portfolio is still well-positioned to meet this demand, with brands like Corona Cero and Cass Zero in Korea. "This idea of low calories, low carbs, low alcohol, no alcohol, gluten free, sugar free are innovations that are addressing an increasing demand for consumers to continue to be social, enjoying their moments, but more in control of their entire consumption," Doukeris said. Thursday's trading session marks AB InBev's lowest stock price since the COVID-19 pandemic's bear market on March 16, 2020. Molson Coors (TAP) and Constellation Brands (STZ) stock also came under pressure. CoreWeave soars after Microsoft reports higher than expected capital expenditures CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META). Microsoft is CoreWeave's largest customer, accounting for 72% of its revenue in the burgeoning cloud provider's most recent quarterly earnings report. Microsoft in its fourth quarter report (for the three months that ended June 30) spending $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant's spending from the prior year. Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year. "We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts. CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META). Microsoft is CoreWeave's largest customer, accounting for 72% of its revenue in the burgeoning cloud provider's most recent quarterly earnings report. Microsoft in its fourth quarter report (for the three months that ended June 30) spending $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant's spending from the prior year. Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year. "We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog," said Microsoft CFO Amy Hood in a post earnings call with analysts. Kellanova misses quarterly profit estimates amid US consumer spending squeeze Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items. "Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters. Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion. Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025. Read more here. Kellanova (K) missed Wall Street estimates for second quarter profit on Thursday as demand softened for snacks and ready-to-eat breakfast items. "Demand softness in most of our categories did not improve as much as we had hoped," CEO Steve Cahillane said about the quarter, per Reuters. Kellanova reported adjusted profit of $0.93 per share in the quarter, missing market expectations of $0.99, according to data compiled by LSEG. The company reported net sales of $3.2 billion, nearly in line with analysts' expectations of $3.19 billion. Kellanova, which spun off from the Kellogg Company in 2023, is awaiting completion of its takeover by Mars for $36 billion. Mars' acquisition of the company is expected to close at the end of 2025. Read more here. Mastercard says consumer remains healthy, beats on earnings Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday. The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%. The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure. Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion. For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens. Read more here from Reuters or listen to the earnings call here. Consumer spending remains fundamentally healthy despite macroeconomic uncertainty, Mastercard (MA) executives said on its second quarter earnings call Thursday. The total value of transactions that Mastercard processed rose 9% during the quarter, while cross-border volume, which tracks spending on cards outside their country of issue, jumped 15%. The credit card data echoed that of Visa (V) in pointing to continued consumer appetite for travel and leisure. Adjusted earnings per share of $4.15 beat Wall Street estimates of $4.03 per share, according to LSEG data. Net revenue rose 17% to $8.1 billion, topping estimates of $7.97 billion. For the full year, Mastercard expects consumer spending to hold up for the rest of the year and tightened its outlook for net revenue to the high end of its previous guidance — with growth in the low teens. Read more here from Reuters or listen to the earnings call here. Roblox raises annual bookings forecast as viral hits spur spending boom Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading. Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion. Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising. The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion. Read more here. Roblox's (RBLX) daily active users rose 41% in the second quarter to cross 100 million, the company reported on Thursday. Roblox stock soared 19% in premarket trading. Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion. Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like "Grow a Garden." Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising. The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion. Read more here. Bristol Myers posts better-than-expected second quarter results on strength of top sellers Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results. Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected. Shares rose about 3% in premarket trading. Reuters reports: Read more here. Bristol Myers Squibb (BMY) reported strong sales of its bestselling drugs Eliquis and Opdivo, which boosted overall second quarter results. Revenue rose 1% to $12.3 billion. Analysts were expecting revenue to fall to $11.4 billion due to the loss of some patents. Earnings for the company were $1.46 per share, above the $1.07 per share result expected. Shares rose about 3% in premarket trading. Reuters reports: Read more here. CVS beats Wall Street estimates in Q2, marking turnaround for pressured stock Yahoo Finance's Anjalee Khemlani reports: Read more here. Yahoo Finance's Anjalee Khemlani reports: Read more here. 'Epic' boost drives Comcast's quarterly results Reuters reports: Read more here. Reuters reports: Read more here. Carvana posts higher quarterly profit on record car sales Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading Bloomberg reports: Read more here. Online used-car seller Carvana's (CVNA) strong second quarter results and outlook defied Wall Street's expectations, sending its shares up over 15% in premarket trading Bloomberg reports: Read more here. BMW sticks with guidance despite profit drop, Trump's tariffs German carmaker BMW ( maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals. Reuters reports Read more here. German carmaker BMW ( maintained its full-year guidance on Thursday despite President Trump's tariffs. The company's quarterly earnings also dropped by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals. Reuters reports Read more here. AB InBev shares slide on concern over sales volumes Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares. Reuters reports: Read more here. Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares. Reuters reports: Read more here. Profit-taking in Robinhood The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in! Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking. A couple good points on this from Bernstein's Gautam Chhugani this morning: Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference. The only problem I see in Robinhood's (HOOD) earnings numbers out last night is that the market had them priced in! Robinhood's stock has been on fire, so I think what we are seeing in the minor premarket pullback is classic profit-taking. A couple good points on this from Bernstein's Gautam Chhugani this morning: Check ou y recent chat with Robinhood co-founder & CEO Vlad Tenev for more context. Tenev will also be a featured speaker at our November Invest conference. Qualcomm on the move lower Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket. The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now. This note from HSBC's Ryan Mellor this morning captures it all nicely: Qualcomm's (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket. The company's earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now. This note from HSBC's Ryan Mellor this morning captures it all nicely: This is remarkable on Meta Meta (META) is rocking premarket to the tune of 12% after a monster quarter. Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong): "We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations." Bottom line: bull market... carry on! Meta (META) is rocking premarket to the tune of 12% after a monster quarter. Got to love the market ignoring this capex stuff in the earnings release below and focusing in on Meta's revenue trends (strong): "We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations." Bottom line: bull market... carry on! Microsoft earnings call: A quick take A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella. Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls. "We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said. A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical tech jargon from CEO Satya Nadella. Bottom line is this: Azure sales crushed, and there were zero signs of peaking AI demand. That should be good enough for the bulls. "We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV)," Citi analyst Tyler Radke said. Arm announces it will develop own chips, forecast fails to impress Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies. Reuters reports: Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost. Shares fell 8% after the market close on Wednesday. Rad more here. Chip architecture provider Arm Holdings (ARM) announced it will invest in making its own chips, marking a major shift to its model of licensing chip blueprints to other companies. Reuters reports: Revenue increased 14% during the quarter to $1.05 billion, coming in just shy of Wall Street's estimates. Earnings per share were $0.35, in line with estimates. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, disappointing investors hoping for a greater artificial intelligence boost. Shares fell 8% after the market close on Wednesday. Rad more here.

Google loses appeal over app store reforms in Epic Games case
Google loses appeal over app store reforms in Epic Games case

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Google loses appeal over app store reforms in Epic Games case

By Mike Scarcella (Reuters) -Alphabet's Google on Thursday failed to persuade a U.S. appeals panel to overturn a jury verdict and federal court order requiring the technology giant to revamp its app store Play. The San Francisco-based 9th U.S. Circuit Court of Appeals rejected claims from Google that the trial judge made legal errors in the antitrust case that unfairly benefited "Fortnite" maker Epic Games, which filed the lawsuit in 2020. Epic accused Google of monopolizing how consumers access apps on Android devices and pay for transactions within apps. The Cary, North Carolina-based company convinced a San Francisco jury in 2023 that Google illegally stifled competition. U.S. District Judge James Donato in San Francisco ordered Google in October to restore competition by allowing users to download rival app stores within its Play store and by making Play's app catalog available to those competitors, among other reforms. Donato's order was on hold pending the outcome of the 9th Circuit appeal. The court's decision can be appealed to the U.S. Supreme Court. Google told the appeals court that the tech company's Play store competes with Apple's App Store, and that Donato unfairly barred Google from making that point to contest Epic's antitrust claims. The tech giant also argued that a jury should never have heard Epic's lawsuit because it sought to enjoin Google's conduct — a request normally decided by a judge — and not collect damages. Epic has defended the verdict and court injunction, telling the 9th Circuit judges that the Android app market has been "suffering under anti-competitive behavior for the better part of a decade." In the trial court and in the appeal, Epic disputed arguments by Google that changes to its app business ordered by the court would harm user privacy and security. Microsoft filed a brief backing Epic, as did the U.S. Justice Department and Federal Trade Commission. Epic separately is battling Apple over a U.S. judge's order requiring the iPhone maker to give developers greater freedom to steer consumers to make purchases outside its App Store. Apple has appealed a ruling that said it violated a prior injunction in a lawsuit that Epic filed in 2020. Sign in to access your portfolio

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