- Barry Adams
- 24 Jul, 2025
- New York City
Wall Street indexes fluctuated as investors reviewed the latest batch of earnings from leading technology companies.
The S&P 500 index edged up 0.1%, the tech-heavy Nasdaq Composite advanced 0.2%, and investors reviewed the latest quarterly results from IBM, Alphabet, ServiceNow, Tesla, and Chipotle Mexican Grill.
Tesla extended its decline after automobile segment revenue continued to decline for the second quarter in a row, driven by backlash from the company's chief executive, Elon Musk's, political activities.
On the economic front, initial weekly jobless claims fell for the sixth week in a row and fell to the lowest since April.
Jobless claims fell 4,000 to 217,000 in the week ending on July 19, and continuing claims inched slightly higher to 1.995 million in the week before.
The U.S. agreed to increase its import duties on Japanese goods to 12.5% from the current average of 3%, but lower than the threatened 25%.
The two sides agreed to a revised trade framework; however, details of the agreement and start date of the tariffs were not released.
Japanese officials confirmed that Japan will work to implement the revised trade agreement "as soon as possible" and asked the U.S. not to impose the 25% tariffs in the interim.
Moreover, the European Union officials are signaling a possible U.S. trade deal that could increase the tariff levels to 15%, confirming the TACO theory - Trump Always Chickens Out.
U.S. Stock Movers
Chipotle Mexican Grill Inc. dropped 12.4% to $46.21 after the burrito chain operator lowered its same-store sales outlook.
ServiceNow Inc. jumped 6.9% to $1,022.0, and the software company reported better-than-expected second-quarter results.
The company reported a 23% increase in revenue to $3.2 billion from $2.6 billion, net income advanced to $385 million from $262 million, and diluted earnings per share rose to $1.84 from $1.26 a year ago.
The company guided revenue in the third quarter to range between $3.26 billion and $3.265 billion, and for the full year to range between $12.775 billion and $12.795 billion, an increase of 20% from a year ago, respectively.
IBM declined 6.6% to $263.24, and the technology company reported weaker-than-expected revenue in the second quarter.
Revenue in the second quarter increased to $16.97 billion from $15.77 billion, net income advanced to $2.2 billion from $1.8 billion, and diluted earnings per share rose to $2.31 from $1.99 a year ago.
"With our strong first-half performance, we are raising our full-year outlook for free cash flow, which we expect to exceed $13.5 billion,” said Chairman, President, and CEO Arvind Krishna.
Alphabet Inc. increased 3.7% to $198.50, and the parent company of the Google search engine reported better-than-expected quarterly results.
Revenue in the second quarter rose 14% to $96.4 billion from $84.7 billion, net income advanced 19% to $28.2 billion from $23.6 billion, and diluted earnings per share rose 22% to $2.31 from $1.89 a year ago.
Google Services revenues increased 12% to $82.5 billion, reflecting strong performance across Google Search & other Google subscriptions, platforms, and devices, and YouTube ads.
Google Cloud revenues increased 32% to $13.6 billion, which includes revenues from cloud and AI-related services.
The company also lifted its spending outlook for the year, as the company ramped up its investment in cloud and AI infrastructure.
"We are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead,” said CEO Sundar Pichai.
- Barry Adams
- 24 Jul, 2025
- New York City
Wall Street indexes fluctuated as investors reviewed the latest batch of earnings from leading technology companies.
The S&P 500 index edged up 0.1%, the tech-heavy Nasdaq Composite advanced 0.2%, and investors reviewed the latest quarterly results from IBM, Alphabet, ServiceNow, Tesla, and Chipotle Mexican Grill.
Tesla extended its decline after automobile segment revenue continued to decline for the second quarter in a row, driven by backlash from the company's chief executive, Elon Musk's, political activities.
On the economic front, initial weekly jobless claims fell for the sixth week in a row and fell to the lowest since April.
Jobless claims fell 4,000 to 217,000 in the week ending on July 19, and continuing claims inched slightly higher to 1.995 million in the week before.
U.S. Stock Movers
Chipotle Mexican Grill Inc. dropped 12.4% to $46.21 after the burrito chain operator lowered its same-store sales outlook.
ServiceNow Inc. jumped 6.9% to $1,022.0, and the software company reported better-than-expected second-quarter results.
The company reported a 23% increase in revenue to $3.2 billion from $2.6 billion, net income advanced to $385 million from $262 million, and diluted earnings per share rose to $1.84 from $1.26 a year ago.
The company guided revenue in the third quarter to range between $3.26 billion and $3.265 billion, and for the full year to range between $12.775 billion and $12.795 billion, an increase of 20% from a year ago, respectively.
IBM declined 6.6% to $263.24, and the technology company reported weaker-than-expected revenue in the second quarter.
Revenue in the second quarter increased to $16.97 billion from $15.77 billion, net income advanced to $2.2 billion from $1.8 billion, and diluted earnings per share rose to $2.31 from $1.99 a year ago.
"With our strong first-half performance, we are raising our full-year outlook for free cash flow, which we expect to exceed $13.5 billion,” said Chairman, President, and CEO Arvind Krishna.
Alphabet Inc. increased 3.7% to $198.50, and the parent company of the Google search engine reported better-than-expected quarterly results.
Revenue in the second quarter rose 14% to $96.4 billion from $84.7 billion, net income advanced 19% to $28.2 billion from $23.6 billion, and diluted earnings per share rose 22% to $2.31 from $1.89 a year ago.
Google Services revenues increased 12% to $82.5 billion, reflecting strong performance across Google Search & other Google subscriptions, platforms, and devices, and YouTube ads.
Google Cloud revenues increased 32% to $13.6 billion, which includes revenues from cloud and AI-related services.
The company also lifted its spending outlook for the year, as the company ramped up its investment in cloud and AI infrastructure.
"We are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead,” said CEO Sundar Pichai.
- Akira Ito
- 24 Jul, 2025
- Tokyo
Japan's indexes advanced for the third consecutive session as the recently announced trade deal between the U.S. and Japan continued to support market enthusiasm.
The Nikkei 225 Stock Average increased 1.6%, the TOPIX gained 1.7%, and automobile makers led the gainers.
The U.S. agreed to increase its import duties on Japanese goods to 12.5% from the current average of 3%, but lower than the threatened 25%.
The two sides agreed to a revised trade framework; however, details of the agreement and start date of the tariffs were not released.
Japanese officials confirmed that Japan will work to implement the revised trade agreement "as soon as possible" and asked the U.S. not to impose the 25% tariffs in the interim.
Prime Minister Ishiba Shigeru said Japanese companies plan to invest $550 billion in the U.S., targeting semiconductor and pharmaceutical industries.
After the deal announcement, Japanese stocks extended a two-day rally to 5%, led by a rebound in vehicle makers and semiconductor equipment companies.
Despite the market euphoria, higher U.S. tariffs on goods from Japan are likely to drag down the Japanese GDP by 0.5% and as much as 1% when additional tariffs on Japan's key trade partner, China, are included.
On the economic front, the private manufacturing sector activities fell into a contraction in July, after expanding in the previous month.
The au Jibun Bank Japan Manufacturing PMI unexpectedly fell to 48.8 in July from June’s final reading of 50.1 and dropped to the lowest level in three months.
The downturn in manufacturing activities was driven by the lingering uncertainty about the U.S. tariff levels and weakness in export orders as businesses adopted a wait-and-see approach.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.6% to 41,822.92, and the broader TOPIX advanced 1.7% to 2,975.50.
Toyota Motor Corp. decreased 0.4% to ¥2,844.50, Honda Motor Co. Ltd. inched higher 0.03% to ¥1,650.50, and Nissan Motor Co. Ltd. increased 1.6% to ¥334.50.
Renault India is expected to acquire the remaining 51% stake in the joint venture with Nissan and take full control of the plant in Chennai, Tamil Nadu.
Renault India is a wholly owned subsidiary of France's Renault Group.
- Akira Ito
- 24 Jul, 2025
- Tokyo
Japan's indexes advanced for the third consecutive session as the recently announced trade deal between the U.S. and Japan continued to support market enthusiasm.
The Nikkei 225 Stock Average increased 1.6%, the TOPIX gained 1.7%, and automobile makers led the gainers.
The U.S. agreed to increase its import duties on Japanese goods to 12.5% from the current average of 3%, but lower than the threatened 25%.
The two sides agreed to a revised trade framework; however, details of the agreement and start date of the tariffs were not released.
Japanese officials confirmed that Japan will work to implement the revised trade agreement "as soon as possible" and asked the U.S. not to impose the 25% tariffs in the interim.
Prime Minister Ishiba Shigeru said Japanese companies plan to invest $550 billion in the U.S., targeting semiconductor and pharmaceutical industries.
After the deal announcement, Japanese stocks extended a two-day rally to 5%, led by a rebound in vehicle makers and semiconductor equipment companies.
Despite the market euphoria, higher U.S. tariffs on goods from Japan are likely to drag down the Japanese GDP by 0.5% and as much as 1% when additional tariffs on Japan's key trade partner, China, are included.
On the economic front, the private manufacturing sector activities fell into a contraction in July, after expanding in the previous month.
The au Jibun Bank Japan Manufacturing PMI unexpectedly fell to 48.8 in July from June’s final reading of 50.1 and dropped to the lowest level in three months.
The downturn in manufacturing activities was driven by the lingering uncertainty about the U.S. tariff levels and weakness in export orders as businesses adopted a wait-and-see approach.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.6% to 41,822.92, and the broader TOPIX advanced 1.7% to 2,975.50.
Toyota Motor Corp. decreased 0.4% to ¥2,844.50, Honda Motor Co. Ltd. inched higher 0.03% to ¥1,650.50, and Nissan Motor Co. Ltd. increased 1.6% to ¥334.50.
Renault India is expected to acquire the remaining 51% stake in the joint venture with Nissan and take full control of the plant in Chennai, Tamil Nadu.
Renault India is a wholly owned subsidiary of France's Renault Group.
- Li Chen
- 24 Jul, 2025
- Hong Kong
Stock market indexes in China and Hong Kong extended gains, and they traded near 40-month highs amid improving sentiment for trade agreements.
The Hang Seng index increased 0.6%, and the mainland-focused CSI 300 index gained 0.5%, as investors hoped that the U.S.-China trade agreement is more likely as early as this week.
The U.S. and Japan agreed to a revised trade framework that will increase import duties on Japanese goods to 12.5% from the current 2.5%.
However, no start date for the revised tariffs has been set.
Meanwhile, the U.S. president and Japan promoted the trade agreement as "the largest deal," but the new proposed tariffs significantly put additional burden on international trade.
The Trump administration had threatened 25% tariffs on Japanese goods starting August 1, but as in the past, the U.S. president always backed down from his initial bold threats.
China Indexes and Stocks
Stocks advanced following gains in overnight trading in New York, after the U.S. president claimed a trade agreement with Japan and signaled progress in talks with the European Union.
The Hang Seng index advanced 0.6% to 25,688.87, and the mainland-focused CSI 300 index added 0.5% to 4,138.47.
Electric vehicle makers advanced in the hopes that the U.S.-China agreement is more likely ahead of the deadline next week.
Li Auto Inc. increased 0.5% to HK $120.10, BYD Class H advanced 0.4% to ¥123.50, and Xpeng Inc. gained HK $76.10.
SMIC jumped 4% to HK $50.70, SenseTime Group inched up a fraction to HK $1.60, and Xiaomi Corp. edged down 0.1% to HK $58.40.
- Li Chen
- 24 Jul, 2025
- Hong Kong
Stock market indexes in China and Hong Kong extended gains, and they traded near 40-month highs amid improving sentiment for trade agreements.
The Hang Seng index increased 0.6%, and the mainland-focused CSI 300 index gained 0.5%, as investors hoped that the U.S.-China trade agreement is more likely as early as this week.
The U.S. and Japan agreed to a revised trade framework that will increase import duties on Japanese goods to 12.5% from the current 2.5%.
However, no start date for the revised tariffs has been set.
Meanwhile, the U.S. president and Japan promoted the trade agreement as "the largest deal," but the new proposed tariffs significantly put additional burden on international trade.
The Trump administration had threatened 25% tariffs on Japanese goods starting August 1, but as in the past, the U.S. president always backed down from his initial bold threats.
China Indexes and Stocks
Stocks advanced following gains in overnight trading in New York, after the U.S. president claimed a trade agreement with Japan and signaled progress in talks with the European Union.
The Hang Seng index advanced 0.6% to 25,688.87, and the mainland-focused CSI 300 index added 0.5% to 4,138.47.
Electric vehicle makers advanced in the hopes that the U.S.-China agreement is more likely ahead of the deadline next week.
Li Auto Inc. increased 0.5% to HK $120.10, BYD Class H advanced 0.4% to ¥123.50, and Xpeng Inc. gained HK $76.10.
SMIC jumped 4% to HK $50.70, SenseTime Group inched up a fraction to HK $1.60, and Xiaomi Corp. edged down 0.1% to HK $58.40.
- Scott Peters
- 23 Jul, 2025
- New York City
Coca-Cola Company jumped 1% to $69.34 after the beverage maker’s revenue increased 1% to $12.5 billion from $12.38 billion, net income soared 58% to $3.8 billion from $2.41 billion, and earnings per diluted share rose 58% to 88 cents from 56 cents a year ago.
The beverage company lifted its annual comparable earnings per share estimate to an increase of 3% to $2.88, or comparable currency-neutral earnings growth of 8%.
The company's comparable earnings per share estimate includes a 5% currency headwind and the impact of hedged positions.
Lockheed Martin dropped 8% to $423.42 after the aerospace and defense company's quarterly results fell short of market expectations.
General Motors Company declined 1.8% to $52.25, and the vehicle maker reported better-than-expected quarterly results.
Revenue in the second quarter declined 1.8% to $47.1 billion from $47.9 billion, net income dropped 35.1% to $1.9 billion from $2.9 billion, and diluted earnings per share dropped 25% to $1.91 from $2.55.
The net income includes $1.1 billion in tariff-linked expenses, and the company retained its annual tariff expenses between $4.0 billion and $5.0 billion.
The company retained its adjusted earnings per share outlook of between $8.25 and $10.0.
Hilton Worldwide Holdings Inc. declined 1.6% to $270.10 despite the hotel operator reporting an increase in revenue and earnings in the second quarter ended in June.
Consolidated revenue in the quarter inched higher to $745 million from $689 million, net income increased to $442 million from $422 million, and diluted earnings per share rose to $1.84 from $1.67 a year ago.
For the six-month period, revenue advanced to $1.3 billion from $1.2 billion, net income soared to $742 million from $690 million, and diluted earnings per share edged higher to $3.07 from $2.71 a year ago.
During the second quarter, Hilton returned a total of $791 million to shareholders through share repurchases and dividends, including the repurchase of 3.2 million shares of common stock.
Year-to-date capital returned $1.88 billion through July.
Hilton guided full-year net income to be between $1.6 billion and $1.7 billion. diluted earnings per share between $6.82 and $6.99. Capital return is projected to be approximately $3.3 billion.
Hilton guided third-quarter net income to be between $453 million and $467 million. diluted earnings per share between $1.89 and $1.95.
Texas Instruments Inc. dropped 12.4% to $188.22 after the semiconductor company reported a second quarter ending in June.
Revenue increased 16% to $4.4 billion from $3.8 billion, net income jumped 15% to $1.3 billion from $1.1 billion, and earnings per share rose 16% to $1.41 from $1.22 a year ago.
The company guided third-quarter revenue between $4.45 billion and $4.80 billion, compared to $4.4 billion, and diluted earnings per share between $1.36 and $1.60, compared to $1.41 a quarter earlier, respectively.
During the same quarter, the company also paid $4.9 billion in dividends to its shareholders.
The Board of Directors of the company announced a $1.36 cash dividend per share for the third quarter of 2025.
CoStar Group Inc. jumped 6.3% to $90.64 after the technology provider to the property investors reported second-quarter 2025 results.
Consolidated revenue in the quarter inched higher to $781 million from $678 million, net income dropped to $6 million from $19 million, and diluted earnings per share decreased to 1 cent from 5 cents a year ago.
CoStar guided full-year revenue to be between $3.135 billion and $3.155 billion and diluted earnings per share between 76 cents and 80 cents a year earlier, respectively.
The company estimated third-quarter revenue between $800 million and $805 million and diluted earnings per share to be between 15 cents and 17 cents for the third quarter of 2025.
- Scott Peters
- 23 Jul, 2025
- New York City
Coca-Cola Company jumped 1% to $69.34 after the beverage maker’s revenue increased 1% to $12.5 billion from $12.38 billion, net income soared 58% to $3.8 billion from $2.41 billion, and earnings per diluted share rose 58% to 88 cents from 56 cents a year ago.
The beverage company lifted its annual comparable earnings per share estimate to an increase of 3% to $2.88, or comparable currency-neutral earnings growth of 8%.
The company's comparable earnings per share estimate includes a 5% currency headwind and the impact of hedged positions.
Lockheed Martin dropped 8% to $423.42 after the aerospace and defense company's quarterly results fell short of market expectations.
General Motors Company declined 1.8% to $52.25, and the vehicle maker reported better-than-expected quarterly results.
Revenue in the second quarter declined 1.8% to $47.1 billion from $47.9 billion, net income dropped 35.1% to $1.9 billion from $2.9 billion, and diluted earnings per share dropped 25% to $1.91 from $2.55.
The net income includes $1.1 billion in tariff-linked expenses, and the company retained its annual tariff expenses between $4.0 billion and $5.0 billion.
The company retained its adjusted earnings per share outlook of between $8.25 and $10.0.
Hilton Worldwide Holdings Inc. declined 1.6% to $270.10 despite the hotel operator reporting an increase in revenue and earnings in the second quarter ended in June.
Consolidated revenue in the quarter inched higher to $745 million from $689 million, net income increased to $442 million from $422 million, and diluted earnings per share rose to $1.84 from $1.67 a year ago.
For the six-month period, revenue advanced to $1.3 billion from $1.2 billion, net income soared to $742 million from $690 million, and diluted earnings per share edged higher to $3.07 from $2.71 a year ago.
During the second quarter, Hilton returned a total of $791 million to shareholders through share repurchases and dividends, including the repurchase of 3.2 million shares of common stock.
Year-to-date capital returned $1.88 billion through July.
Hilton guided full-year net income to be between $1.6 billion and $1.7 billion. diluted earnings per share between $6.82 and $6.99. Capital return is projected to be approximately $3.3 billion.
Hilton guided third-quarter net income to be between $453 million and $467 million. diluted earnings per share between $1.89 and $1.95.
Texas Instruments Inc. dropped 12.4% to $188.22 after the semiconductor company reported a second quarter ending in June.
Revenue increased 16% to $4.4 billion from $3.8 billion, net income jumped 15% to $1.3 billion from $1.1 billion, and earnings per share rose 16% to $1.41 from $1.22 a year ago.
The company guided third-quarter revenue between $4.45 billion and $4.80 billion, compared to $4.4 billion, and diluted earnings per share between $1.36 and $1.60, compared to $1.41 a quarter earlier, respectively.
During the same quarter, the company also paid $4.9 billion in dividends to its shareholders.
The Board of Directors of the company announced a $1.36 cash dividend per share for the third quarter of 2025.
CoStar Group Inc. jumped 6.3% to $90.64 after the real estate platform operator reported second-quarter 2025 results.
Consolidated revenue in the quarter increased 15% to $781 million from $678 million, net income dropped to $6 million from $19 million, and diluted earnings per share decreased to 1 cent from 5 cents a year ago.
Adjusted earnings per share were 17 cents, and new bookings soared 65% from the previous quarter to $93 million, driven by strong bookings increase on Apartments.com site.
CoStar guided full-year revenue to be between $3.135 billion and $3.155 billion and diluted earnings per share between 76 cents and 80 cents a year earlier, respectively.
The company estimated third-quarter revenue between $800 million and $805 million and diluted earnings per share to be between 15 cents and 17 cents for the third quarter of 2025.