Tesla loses key execs but hires a new one from GM's failed robotaxi company
Yesterday, reports from Forbes and CNBC said that Musk had fired Omead Afshar, who formerly led operations in North America and Europe and was a close confidant of Musk's. (Bloomberg and The Wall Street Journal also reported that Afshar left the company, though did not say he was fired.) The firing follows a major slump in sales for Tesla's automotive business – last quarter, revenue for that organization fell 20 percent year-over-year.
Afshar first joined Tesla in 2017, where he started as a project manager in the office of the CEO, according to his LinkedIn. In 2022, he was reportedly investigated internally for a glass purchase for a secret project.
Tesla also recently lost Milan Kovac, its VP who headed up the Optimus humanoid robotics team. Kovac said that he left because he needed to spend more time with family abroad. Musk thanked Kovac in a reply.
To add to its executive ranks, though, Tesla hired Henry Kuang, who formerly was Head of Autonomy at Cruise, Electrek reports. He lists his title as 'Director, AI / Deep Learning for Autonomous Driving' on his LinkedIn, which says he started in the job in May. Tesla is ramping up its robotaxi efforts, though the initial launch this month has been rocky.
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Earnings live: Wayfair stock soars on Q2 beat, Tyson raises revenue forecast
Second quarter earnings season is in full swing, and the results have been largely positive so far, with more positive surprises than negative ones. Companies had a lower bar to clear coming into the quarter, as analysts tempered their expectations amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. This week, investors will hear from Tyson (TSN), AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), Palantir (PLTR), and more when they report results. Data from FactSet published Friday showed that with 66% of the index having reported results, analysts expect S&P 500 companies to report a 10.3% jump in earnings per share during the second quarter. Heading into the quarter, analysts expected S&P 500 earnings to rise 5% in Q2, which would mark the slowest pace of earnings growth since the fourth quarter of 2023. Here are the latest updates from corporate America. Meatpacker Tyson Foods raises annual revenue forecast on resilient chicken demand Shares of Tyson Foods (TSN) rose 4% in premarket trading on Monday after the company reported fiscal third quarter results and shared that chicken sales are expected to offset beef. Tyson reported adjusted earnings per share of $0.91, and net sales rose 4% to $13.88 billion. Wall Street analysts expected earnings of $0.78 per share on $13.55 billion in revenue. In the third quarter, chicken sales rose 3.5% while volumes increased 2.4%. Volumes in Tyson's beef segment were down 3.1% during the quarter, but sales grew 6.9% as prices jumped 10%. For the fiscal year, Tyson anticipates sales to grow 2% to 3% compared to fiscal 2024 and overall adjusted operating income of $2.1 billion to $2.3 billion. Reuters reports: Read more here. Wayfair stock soars after furniture retailer swings to a profit Wayfair (W) stock shot up 13% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability," Wayfair CEO Niraj Shah said in a statement. "As we have discussed over the last few years, we can and will grow profitably, while taking significant share in the market." A look at earnings two-thirds of the way through Q2 reporting season The major stock indexes recorded weekly losses on Friday after a full schedule of earnings, new tariff policy for US trading partners, Federal Reserve interest rate decision, and a weaker-than-expected July jobs report. Data from FactSet published Friday showed that we are two-thirds of the way through the second quarter reporting period, with 66% of S&P 500 companies having reported results so far. As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2. If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index. Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more. Here's a look at the earnings calendar for the next five business days: Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR) Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST) Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z) Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI) Friday: Under Armour (UAA), fuboTV (FUBO) Big Tech quarterly results show greater willingness to spend on AI Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Colgate-Palmolive beats quarterly estimates on steady demand for essentials Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Regeneron beats second-quarter results estimates on Dupixent sales boost Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Moderna beats Q2 estimates, announces cost cuts and layoffs Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Chevron beats Wall Street profit estimates with record production Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Exxon beats profit estimates with higher production despite weak oil prices Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Amazon tosses a bone to the Fed chair Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. How to think about Apple's quarter... We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. First Solar raises annual sales outlook, expects higher prices due to tariffs Reuters reports: Read more here. Strategy results show company buoyed by bitcoin in Q2 Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Apple reports earnings, revenue ahead of forecasts Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Roku reports surprise profit in Q2, revenue beats expectations Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Coinbase stock falls 7% after results disappoint Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Reddit stock soars as company posts fastest quarterly revenue growth in 3 years Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Amazon posts earnings beat but stock slips Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. 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. Meatpacker Tyson Foods raises annual revenue forecast on resilient chicken demand Shares of Tyson Foods (TSN) rose 4% in premarket trading on Monday after the company reported fiscal third quarter results and shared that chicken sales are expected to offset beef. Tyson reported adjusted earnings per share of $0.91, and net sales rose 4% to $13.88 billion. Wall Street analysts expected earnings of $0.78 per share on $13.55 billion in revenue. In the third quarter, chicken sales rose 3.5% while volumes increased 2.4%. Volumes in Tyson's beef segment were down 3.1% during the quarter, but sales grew 6.9% as prices jumped 10%. For the fiscal year, Tyson anticipates sales to grow 2% to 3% compared to fiscal 2024 and overall adjusted operating income of $2.1 billion to $2.3 billion. Reuters reports: Read more here. Shares of Tyson Foods (TSN) rose 4% in premarket trading on Monday after the company reported fiscal third quarter results and shared that chicken sales are expected to offset beef. Tyson reported adjusted earnings per share of $0.91, and net sales rose 4% to $13.88 billion. Wall Street analysts expected earnings of $0.78 per share on $13.55 billion in revenue. In the third quarter, chicken sales rose 3.5% while volumes increased 2.4%. Volumes in Tyson's beef segment were down 3.1% during the quarter, but sales grew 6.9% as prices jumped 10%. For the fiscal year, Tyson anticipates sales to grow 2% to 3% compared to fiscal 2024 and overall adjusted operating income of $2.1 billion to $2.3 billion. Reuters reports: Read more here. Wayfair stock soars after furniture retailer swings to a profit Wayfair (W) stock shot up 13% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability," Wayfair CEO Niraj Shah said in a statement. "As we have discussed over the last few years, we can and will grow profitably, while taking significant share in the market." Wayfair (W) stock shot up 13% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability," Wayfair CEO Niraj Shah said in a statement. "As we have discussed over the last few years, we can and will grow profitably, while taking significant share in the market." A look at earnings two-thirds of the way through Q2 reporting season The major stock indexes recorded weekly losses on Friday after a full schedule of earnings, new tariff policy for US trading partners, Federal Reserve interest rate decision, and a weaker-than-expected July jobs report. Data from FactSet published Friday showed that we are two-thirds of the way through the second quarter reporting period, with 66% of S&P 500 companies having reported results so far. As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2. If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index. Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more. Here's a look at the earnings calendar for the next five business days: Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR) Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST) Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z) Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI) Friday: Under Armour (UAA), fuboTV (FUBO) The major stock indexes recorded weekly losses on Friday after a full schedule of earnings, new tariff policy for US trading partners, Federal Reserve interest rate decision, and a weaker-than-expected July jobs report. Data from FactSet published Friday showed that we are two-thirds of the way through the second quarter reporting period, with 66% of S&P 500 companies having reported results so far. As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2. If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index. Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more. Here's a look at the earnings calendar for the next five business days: Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR) Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST) Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z) Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI) Friday: Under Armour (UAA), fuboTV (FUBO) Big Tech quarterly results show greater willingness to spend on AI Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Colgate-Palmolive beats quarterly estimates on steady demand for essentials Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Regeneron beats second-quarter results estimates on Dupixent sales boost Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Moderna beats Q2 estimates, announces cost cuts and layoffs Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Chevron beats Wall Street profit estimates with record production Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Exxon beats profit estimates with higher production despite weak oil prices Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Amazon tosses a bone to the Fed chair Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. How to think about Apple's quarter... We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. First Solar raises annual sales outlook, expects higher prices due to tariffs Reuters reports: Read more here. Reuters reports: Read more here. Strategy results show company buoyed by bitcoin in Q2 Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Apple reports earnings, revenue ahead of forecasts Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Roku reports surprise profit in Q2, revenue beats expectations Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Coinbase stock falls 7% after results disappoint Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Reddit stock soars as company posts fastest quarterly revenue growth in 3 years Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Amazon posts earnings beat but stock slips Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. 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.
Yahoo
16 minutes ago
- Yahoo
The Cost Of Doing Nothing: Tariffs Could Cut Into Peak Season Profits For E-Commerce Brands
Global e-commerce continues to expand—but profitability is under pressure. With new U.S. tariffs set to take effect Aug. 1 and more trade actions on the horizon, direct-to-consumer (DTC) brands are heading into peak season facing rising costs, stricter compliance requirements, and growing uncertainty. According to Passport's 2025 survey of e-commerce leaders, 81% of respondents say tariffs are one of their biggest international challenges. More than half have already experienced increased scrutiny from trade authorities in the past year. However, many have yet to adjust their logistics and compliance strategies, putting both margins and customer experience at risk during the most critical sales quarter of the year. In fact, 7 in 8 e-commerce leaders say they've already raised prices (or plan to) during Q4 2025 to offset expected costs from tariffs and de minimis changes. It's a clear signal that brands are bracing for impact. The question is: Will those pricing moves be enough without operational changes behind them? Growth alone no longer guarantees profit. Brands that treat tariffs as a secondary concern may find themselves caught off guard. Passport shares what DTC teams need to know about the rising cost of inaction—and how leading e-commerce brands are preparing now to protect performance through Q4 and beyond. Tariffs Are Reshaping Peak Season Risk Tariff policy isn't just shifting—it's accelerating. Over the past several months, a series of trade developments have added real cost and compliance pressure for e-commerce brands. As we approach peak season, understanding what's already in effect (and what's coming next) is essential to protecting margins and customer experience. What's already in effect: Flat 10% tariff on most imports (effective April 10): A universal 10% tariff now applies to most U.S. imports, replacing country-specific rates for the time being and driving up landed costs across the board. 30% tariff on goods from China and Hong Kong (effective April 10): Chinese-origin products are subject to a combined 30% tariff—10% reciprocal plus 20% trade action—adding significant cost to many e-commerce supply chains. De minimis ended for China and Hong Kong (effective May 2): All shipments now require full customs clearance and are subject to duties, eliminating a key cost-saving mechanism and increasing documentation requirements. Stricter customs enforcement across global markets (ongoing): Authorities in the U.S., EU, and other key regions are stepping up audits and penalties for misclassification, undervaluation, and incomplete documentation—raising the compliance stakes. What's coming Aug. 1: New reciprocal tariffs of up to 50%: Without finalized trade agreements, imports from major U.S. partners—including Brazil, Canada, the EU, and others—could face steep duty increases just as peak shipping volumes ramp up. Together, these changes are driving up costs, complicating customs flows, and increasing the risk of surprise fees or delivery delays, right when brands can least afford it. Global Sales Remain Profitable, Even Amid Rising Complexity Cross-border e-commerce remains a powerful growth engine. In Passport's 2025 whitepaper, 91% of international merchants said global sales are a profitable revenue stream, with half reporting that international orders account for at least 21% of total revenue. However, as tariffs rise and trade requirements tighten, that profitability has become harder to protect. Many brands still rely on outdated cross-border models, leaving them exposed to fluctuating costs, customs disruptions, and compliance risks during the most critical sales period of the year. How Leading Brands Are Getting Ahead of Tariffs To stay competitive this peak season, leading DTC brands are reevaluating their fulfillment strategies and approaching global sales with a sharper operational lens. Top-performing teams aren't just reacting to new tariffs—they're building fulfillment infrastructure that supports profit and performance in a more complex trade environment. 1. In-country enablement for high-volume markets Relocating inventory into key destination markets reduces tariff exposure, improves customs clearance, and opens access to domestic-only sales channels like Amazon and Walmart. It also enables faster shipping, easier returns, and tighter inventory control—key advantages during the holiday rush, when customer expectations are at their peak. In many cases, in-country enablement has shifted from a cost-control tactic to a growth driver. Brands are using it to unlock new revenue streams, meet marketplace requirements, and deliver a better post-purchase experience. 2. Smarter cross-border strategies for emerging markets For regions where in-country warehousing isn't yet justified, brands are investing in tools to make cross-border shipping more predictable and cost-effective. This includes calculating landed costs more accurately at checkout, streamlining customs documentation, and collecting tax IDs in applicable markets to avoid delivery delays. Alongside operational improvements, many brands are also revisiting pricing strategies—testing duty-inclusive pricing and experimenting with different shipping configurations to offset rising costs without hurting conversion. These trends have emerged across recent industry research and reflect how leading e-commerce teams are adapting to a more complex cross-border environment. Rather than applying a one-size-fits-all approach, leading brands are segmenting their international strategy—localizing where the volume supports it, optimizing cross-border operations elsewhere, and adjusting pricing in response to evolving tariff and compliance pressures. This level of intentionality is what sets apart brands that grow globally and sustainably. Protecting Peak Season Performance Peak season is not the time to discover hidden tariff costs or compliance issues. With trade conditions changing quickly, brands that wait to adapt risk avoidable delays, margin loss, and customer frustration during their most important sales window. Now's the time to act. Whether through in-country fulfillment, smarter cross-border tools, or a combination of both, brands that take steps today will be better positioned to navigate uncertainty and emerge ahead this holiday season. This story was produced by Passport and reviewed and distributed by Stacker. RELATED CONTENT: Here's How Trump's Tariffs Are Putting A Damper On Black Protective Hairstyles
Yahoo
16 minutes ago
- Yahoo
AT&T Expands Office@Hand Business Communications Portfolio with RingCX AI-Powered Contact Center and RingSense Conversational Intelligence Solutions by RingCentral
BELMONT, Calif. & DALLAS, August 04, 2025--(BUSINESS WIRE)--RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, and AT&T (NYSE:T) today unveiled new additions to the AT&T Office@Hand portfolio. Introducing Office@Hand Contact Center, powered by RingCX™, RingCentral's omnichannel AI-first contact center platform. Additionally, Office@Hand RingSense, powered by RingCentral, a conversational intelligence solution, is now available to customers. This solution analyzes what customers are calling about and revolutionizes AI-based coaching for sales and support teams to elevate their performance. These innovative tools blend RingCentral's trusted AI communications expertise with AT&T's reliable network, empowering businesses of all sizes to deliver exceptional customer experiences and enhance operational efficiency — all on a cost-effective, easy-to-implement platform. AT&T's Office@Hand, powered by the RingCentral RingEX™ platform, has been a cornerstone of advanced communications for AT&T Business customers since its inception as one of RingCentral's pioneering service provider partnerships. This powerful solution, when combined with AT&T's cutting-edge Fiber, 5G, and SD-WAN technologies, delivers reliable voice and video quality while enabling cost-effective, high-performance deployments. Now, with the addition of RingCX and RingSense™ capabilities, Office@Hand expands its reach, enabling organizations with a seamless path to the adoption of AI tools across all customer-facing roles. "Our customers trust us to provide the best communications solutions that move the needle for their businesses," said Joe Petrocelli, vice president of Communications Services, AT&T Business. "By expanding our decade-long partnership with RingCentral, we are able to bring contact center and conversational intelligence functionality to our portfolio. These new capabilities come at a time when organizations of all sizes are actively seeking new, innovative ways to elevate customer engagement and provide superior customer experiences through AI-enabled technologies." Office@Hand Contact Center delivers an AI-powered customer experience designed to transform customer interactions through a unified platform that consolidates interaction management from over 20 channels—including inbound and outbound voice, email, webchat, SMS, WhatsApp, and Facebook. Agents gain complete visibility into each customer's journey, enabling seamless interactions across their preferred channels, whether social media, live chat, or phone. Built-in AI capabilities provide automated transcripts, call scoring, coaching insights, and post-interaction speech and text analytics to help agents and supervisors resolve issues faster and boost customer satisfaction. "We chose AT&T Office@Hand Contact Center because of the simplicity and cost savings among all the other competitors," said Pablo Pita, IT director of La Mercedes Medical Centers, a leading Medicare-focused staff model medical center in Florida. "This solution will help make our jobs easier and run more smoothly. We chose this solution because of what the RingCentral brand stands for and the partnership with AT&T long term. Having a one carrier platform was our goal, and we are all happy the implementations are getting completed as we speak." Customers can now also implement Office@Hand RingSense, a conversational intelligence solution designed to improve performance of sales and support teams. With in-depth post-call analysis, including automatic transcripts, summaries, and sentiment analysis, the tool provides sales and support teams a deeper understanding of customer needs and pain points, leading to more personalized and effective interactions – all designed to ultimately improve the customer experience. "AT&T's integration of RingCentral's AI-powered contact center and conversational intelligence into Office@Hand delivers the comprehensive, AI-first customer experience platform enterprises are demanding," noted Dave Michels, principal analyst and founder of TalkingPointz. "This partnership demonstrates how service providers can differentiate through AI while reducing customer complexity and costs—creating a compelling value proposition for organizations modernizing their customer engagement strategy." "In today's digital-first landscape, our mission is clear: to continuously innovate and deliver solutions that position our customers at the forefront of their industries. Together with AT&T, we're thrilled to co-innovate and continue our exceptional partnership," said Homayoun Razavi, EVP & GM, Global Strategic Partnerships at RingCentral. "By expanding Office@Hand Business Communication with RingCX Contact Center and RingSense AI functionalities, we're delivering a unique platform, while enhancing customer experiences, and empowering end-users to enhance their core business." AT&T Office@Hand Contact Center and Office@Hand RingSense powered by RingCentral are currently available to all customers. For more information about AT&T Office@Hand, visit here. About RingCentral RingCentral is a global leader in AI-powered business communications, contact center, conversational intelligence, video and hybrid event solutions. RingCentral empowers businesses with conversation intelligence and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of hundreds of thousands of customers and millions of users worldwide. Visit to learn more. ©2025 RingCentral, Inc. All rights reserved. RingCentral, RingCX, RingEX, RingSense, and the RingCentral logo are trademarks of RingCentral, Inc. About AT&T We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibilities. From the first phone call 140 plus years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at Investors can learn more at View source version on Contacts Media Contacts: Mariana Leventis+1 Darian D. Taylor+1
