US Commerce Secretary Lutnick says tariffs take effect on August 1
Commerce Secretary Howard Lutnick told reporters that the higher tariffs would take effect on August 1, but Trump was "setting the rates and the deals right now."
Trump in April announced a 10% base tariff rate on most countries and higher additional rates ranging up to 50%, although he later delayed the effective date for all but 10% until July 9. Lutnick's comments indicate a three-week reprieve.
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Veterans Affairs Dept. Scales Back Plans for Vast Job Cuts
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ServiceNow Trades 16% Below 52-Week High: Buy, Sell or Hold the Stock?
ServiceNow NOW shares closed at $1,011.89 on Tuesday (July 2), roughly 15.5% below the 52-week high of $1,198.09 it hit on Jan. 28, 2025. NOW shares have dropped 4.5% year to date (YTD), underperforming the Zacks Computer and Technology sector's return of 5.7% but outperforming the Zacks Computers – IT Services industry's drop of 6.3%.NOW shares have suffered from a worsening macroeconomic environment following U.S. President Donald Trump's decision to levy tariffs on trading partners, including China and Mexico. The company's federal business is expected to suffer from DOGE-related issues. ServiceNow expects unfavorable forex impacts of $175 million for 2025 and back-end loaded federal business is expected to hurt the growth strategy to accelerate the adoption of its Agentic AI by foregoing immediate revenues is expected to affect the subscription revenue growth rate in 2025. 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Through the Now platform, ServiceNow supports diverse workflows, ranging from IT service management and customer service to HR, employee experience and app have also played an important role in expanding NOW's portfolio. In April 2025, ServiceNow announced the acquisition of a company specializing in AI-powered and Configure, Price, Quote solutions. This move is set to bolster ServiceNow's CRM offerings, particularly in sales and order management, by integrating advanced AI expanding platform is driving enterprise adoption. In the first quarter of 2025, the company reached 508 customers, generating more than $5 million in ACV, representing 20% year-over-year growth. Expanding customer base is driving subscription revenues, which hit $3.01 billion in the first quarter of 2025, reflecting year-over-year growth of 20% in constant currency. A rich partner base that includes the likes of Alphabet, Amazon AMZN, Microsoft and NVIDIA NVDA is noteworthy. In May 2025, NOW partnered with Amazon's cloud computing arm, Amazon Web Services, to launch a bi-directional data integration solution, enabling enterprises to unify data and trigger AI-powered workflows by connecting ServiceNow with Amazon and NOW collaborated to launch AI agents for the telecom industry. The AI agents were built with NVIDIA AI Enterprise software and the AI platform NVIDIA DGX Cloud. ServiceNow has expanded its partnership with NVIDIA to enhance agentic AI by integrating NVIDIA Llama Nemotron reasoning models and AI agent evaluation tools into the ServiceNow Platform for optimized business transformation. The Zacks Consensus Estimate for 2025 earnings is pegged at $16.54 per share, up by a penny over the past 30 days, indicating an 18.82% increase from the 2024 reported figure. ServiceNow, Inc. price-consensus-chart | ServiceNow, Inc. Quote The consensus mark for second-quarter 2025 earnings is pegged at $3.54 per share, up by a penny over the past 30 days, suggesting year-over-year growth of 13.1%. NOW stock is overvalued, as suggested by the Value Score of terms of the forward 12-month Price/Sales, NOW is trading at 14.75X, higher than the broader sector's 6.51X. Image Source: Zacks Investment Research ServiceNow's expanding portfolio and strong partner base are expected to drive its clientele, boosting subscription revenues. However, unfavorable forex amid a challenging macroeconomic environment is concerning. NOW's stretched valuation makes the stock unattractive for value currently has a Zacks Rank #3 (Hold), which implies that investors should stay away from the stock for the time can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report ServiceNow, Inc. (NOW) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
