Closing Bell Movers: Alphabet rises, Tesla slips after Q2 reports
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Check out this evening's top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
Icon (ICLR) up 13.9%
ServiceNow (NOW) up 7.2%
Wex (WEX) up 6.5%
First American (FAF) up 5.7%
Las Vegas Sands (LVS) up 5.6%
T-Mobile (TMUS) up 5.2%
Alphabet Class A (GOOGL) up 1.7%
LOWER AFTER EARNINGS –
Community Health (CYH) down 18%
Chipotle (CMG) down 9.5%
QuantumScape (QS) down 6.2%
IBM (IBM) down 5%
Molina Healthcare (MOH) down 4.6%
Mattel (MAT) down 4%
Tesla (TSLA) down 2.8%
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CNBC
a few seconds ago
- CNBC
Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more
Check out the companies making headlines in midday trading: Tesla – The electric vehicle maker's stock jumped more than 4% after Business Insider reported that Tesla's robotaxi service will debut in San Francisco as soon as this weekend. Even with the move, Tesla shares are down nearly 3% week to date. Charter Communications — The cable operator's shares fell almost 17%, and are on track for their worst day ever, after disappointing results. Charter Communications lost 117,000 broadband and 80,000 video subscribers in the second quarter . The news also hurt shares of other cable providers. Comcast fell nearly 5%, Altice was down about 9% and EchoStar slipped about 2%. Intel — Shares of the chipmaker dropped more than 9% after Intel said it will cut 15% of its workforce and scale back plans for chip factory construction in an attempt to revitalize its artificial intelligence strategy. The announcement came even as Intel topped second-quarter revenue expectations. Centene — The managed care provider rose 5% after posting mixed quarterly results that reflected membership declines across its Medicaid and Medicare businesses. Centene's CEO said the company is "disappointed" by its performance and is "working with urgency and focus to restore our earnings trajectory." Centene stock has fallen nearly 58% year to date. Newmont – The gold miner jumped 6% after reporting second-quarter adjusted earnings of $1.43 per share on revenue of $5.32 billion. That topped the FactSet consensus call for $1.16 per share in earnings and $4.85 billion in revenue. Newmont also said that it generated a record quarterly free cash flow of $1.7 billion and is on track to meet its 2025 guidance. Deckers Outdoor — The maker of UGG boots soared more than 13% after fiscal first-quarter results beat Wall Street's expectations. Deckers earned 93 cents per share on revenue of $965 million, while analysts polled by LSEG had penciled in 68 cents per share and revenue of $901 million. Deckers cited higher-than-expected sales of its flagship brand, as well as its popular Hoka athletic shoes and sandals. Carvana — The online used-car retailer added nearly 2% on the back of an Oppenheimer upgrade to outperform from perform. The investment bank said Carvana's "business model is now 'humming,' generating meaningful cash" while scaling up and capitalizing on industry demand trends. Paramount — The owner of CBS television slipped less than 1% after the Federal Communications Commission on Thursday approved an $8 billion merger between Paramount and Skydance Media. — CNBC's Pia Singh and Alex Harring contributed reporting. Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.
CNN
a few seconds ago
- CNN
There's a sweet spot for tariffs. Markets could revolt if Trump is way off
US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along. Stocks were higher on Friday. The Dow rose 70 points, or 0.15%. The broader S&P 500 gained 0.25% and the tech-heavy Nasdaq Composite rose 0.2%. The Dow is less than 300 points away from hitting an all-time high. The blue-chip index needs to finish the day with a gain of 0.72% to hit a fresh record, which would be its first this year. President Donald Trump late Tuesday announced a trade deal with Japan, signaling that the United States might be open to further negotiations with other trading partners. The S&P 500 has notched four consecutive records this week as global markets have welcomed progress on trade ahead of Trump's self-imposed August 1 deadline. The deal with Japan includes a 15% tariff on imports from the nation, which is less than the previously threatened 25% levy. A 15% tariff is still relatively high, but investors were relieved to see that level compared to previous threats, Eric Freedman, CIO at US Bank Asset Management Group, said. As stocks grind higher, markets are adjusting to the prospect of Trump's tariffs staying in place, Freedman said. But a surprisingly high levy on a major trading partner like the European Union could send a jolt through markets that triggers a downturn. 'The key is will we see that effective tariff rate hover around the 15 to 17% level, or will it be north of 20%?' he said. 'Markets are not priced for major trading partner effective tariff rates north of 20%,' he said. 'The European negotiations remain paramount. That's something that markets are very, very fixated on right now.' Stocks earlier this month dropped lower after Trump announced plans for a 35% tariff on Canada, highlighting how markets could react negatively to high tariff rates. Trump on Friday said that there's a '50-50 chance' he will strike a trade deal with the European Union ahead of a deadline for imposing hefty tariffs on the US' close economic partner. 'I would say that we have a 50-50 chance, maybe less than that,' Trump said at the White House. 'But they want to make a deal very badly.' Trump has vowed to impose 30% tariffs on the EU on August 1 should the two sides fail to reach an agreement. The Dow on Wednesday posted its best daily gain in one month. The Nasdaq this week closed above 21,000 points for the first time ever. The S&P 500 has notched 10 record highs in the past month. Stocks have marched higher, supported by a de-escalation in global trade tensions, better-than-expected economic data and healthy corporate earnings. About 34% of companies in the S&P 500 have reported earnings results for the second quarter, with 80% posting earnings that beat expectations, according to FactSet data. 'Trump's Tariff Turmoil appears to be subsiding,' Ed Yardeni, president of Yardeni Research, said in a note. But stocks are historically expensive, and markets are vulnerable to a negative trade surprise. Wall Street in April was caught off-guard by Trump's enormous 'Liberation Day' tariffs, which sent stocks plunging. Investors are optimistic that the August 1 deadline will provide more clarity and less concern, though there's room for miscalculation. The S&P 500 hasn't posted a daily gain or loss of more than 1% in one month, which is a sign that momentum is slowing down. 'We had hoped that much of the tariff uncertainty would have been resolved by now,' David Lefkowitz, head of US Equities at UBS Global Wealth Management, said in a note. 'Plus, we can't rule out that the president will continue to escalate his tariff rhetoric until the markets send a signal that he is going too far,' he said. The Dow this week has flirted with closing at a record high, which would be its first since December. 'Extreme greed' was the sentiment driving markets on Friday, according to CNN's Fear and Greed index. US stocks have rallied in recent days despite underlying uncertainties related to tariffs on major trade partners including Mexico, the European Union and India. That's because Wall Street has welcomed progress on the trade front with Indonesia, the Philippines and Japan, including tariffs ranging from 15 to 19% and more clarity about where average tariff rates might land. 'While still negative from the macro point of view, the world can live with these levels of tariffs,' Mohit Kumar, chief strategist and economist for Europe at Jefferies, said in a note. 'We have been in the relative sanguine camp for tariffs and our view remains,' Kumar said. 'With trade deals likely with all the trading partners, markets can move from the uncertainty surrounding tariffs.' Wall Street's fear gauge, the CBOE Volatility Index, or VIX, traded at its lowest level since February, signaling relative calm in markets. It's a major shift from early April, when the VIX had spiked above 50 points as volatility gripped markets after Trump's tariff announcements. 'The administration pushed a critical trade deal across the finish line with Japan which unlocks new possibilities,' Sarah Bianchi, chief strategist of international political affairs at Evercore ISI, said in a note. However, Bianchi said she is cautioning investors that Trump is still pushing forward with an average tariff rate 'far above anything the United States has seen in recent history.' 'Looking ahead to the August 1 deadline, these successes will increase momentum to ink more deals,' Bianchi said. 'However, it could also embolden Trump even more to punish the countries who do not land a deal by August 1.' While economic data has been encouraging, a campaign of massive tariffs could cause a resurgence in inflation, creating additional headwinds for businesses and complicating the Federal Reserve's rate-cutting path. CNN's Adam Cancryn contributed reporting.
Yahoo
27 minutes ago
- Yahoo
Charter Communications, Tesla, Volkswagen: Trending Tickers
Charter Communications (CHTR) stock is plummeting after reporting a second quarter earnings miss and greater-than-expected customer losses amid competition from mobile and fiber internet providers. Tesla (TSLA) stock rebounds as the company prepares to launch robotaxis in San Francisco, according to Business Insider. However, concerns grow over reports from The Information about the company's slow production of its Optimus humanoid robots. Volkswagen (VWAGY) lowered its full-year guidance after reporting a second quarter profit decline, attributing the drop to over $1.5 billion in US tariff costs from the trade war. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Now time for some of today's trending tickers. We're watching Charter, Tesla, and Volkswagen. First up, Charter Communications falling after the cable company reported second quarter earnings that missed expectations. The company reported it lost more internet customers than expected during the second quarter amid increased pressure from mobile companies 5G and fiber home internet offerings. All three of the big US telecom companies been packaging their offerings of wireless phone service with 5G or fiber internet service. Those shares down 17%. Next up is Tesla. Two narratives in focus for that company today. In the first, Business Insider reporting the company will launch its robo taxis in San Francisco this weekend, which did help stem some losses for the shares this morning. They're now up more than 2%. On the flip side, however, speaking to the future of Tesla, the information is reporting some struggles in Tesla's Optimus robot production. Saying the company has only made hundreds of robots. Well, why does that matter? As the company grapples with falling auto sales, Musk has been hyping his humanoid robot as Tesla's next big product, a potential 10 trillion dollar business, and has talked about producing 5,000 of those robots this year. So they're going to have to speed it up if they're only at hundreds. Finally, Volkswagen lowering its full-year guidance and reporting a sharp drop in second quarter profit as the auto giant grapples with the costs of President Trump's trade war. Europe's biggest car maker posting second quarter sales of 80.8 billion euros that missed analyst expectations of more than 82 billion euros. The automaker said the impact of US tariffs alone cost it 1.3 billion euros in the first six months of the year.
