Market rotation, auto industry rebalancing: Asking for a Trend

On Thursday's edition of Asking for a Trend, Host Josh Lipton breaks down some of the biggest stories and themes impacting markets. The auto sector is grabbing investor attention as major companies like Stellantis (STLA) and Ford (F) report underwhelming second-quarter earnings. CarGurus director of industry insights and analytics Kevin Roberts explains that despite disappointing earnings, the auto industry is still "quite healthy." He notes that the earnings suggest the sector is going through "a bit of a rebalancing right now." The major indexes (^DJI, ^IXIC, ^GSPC) closed mixed on Thursday as they try to recover from a three-day tech sell-off. This downturn was triggered by disappointing earnings reports from Tesla (TSLA) and Alphabet (GOOG, GOOGL) — two of the "Magnificent Seven" tech giants. Yahoo Finance reporter Jared Blikre analyzes the day's top market trends, discussing the rotation into small-cap stocks and Japan's financial markets, which appear to be going through a "capitulation." The future of regulation for startups and big businesses rests on the 2024 election, as former President Donald Trump and Vice President Kamala Harris have vastly different agendas. Tusk Venture Partners co-founder and managing partner Jordan Nof says that a new administration will likely bring a new leader to the Federal Trade Commission (FTC) "and potentially a different posture that the FTC takes with antitrust specifically." He notes that many investors are worried that Big Tech "just does not want to transact right now," and that fear "really takes a lot of the wind out of the sails in terms of how you can underwrite a deal to an exit." He also explains that investors and early-stage fund managers prefer Trump-era policies compared to Biden's current policies and are most likely to vote with their pocketbooks in this election. Josh Lipton then breaks down what to watch on Friday, July 26th, before turning to some of the biggest movers in after-hours trading, from Skechers (SKX) to L3Harris Technologies (LHX). This post was written by Melanie Riehl

Southwest scraps open seating, ending decades-long practice

Southwest is ending its 50-year-plus practice of unassigned seating in a move to increase profitability amid activist investor pressures.

Lululemon drops over Citi downgrade, price target cuts

Lululemon (LULU) stock tumbles lower ahead of Thursday's market close after analyst teams from Citi and JPMorgan cut their price targets on the athleisure brand: Citi downgraded the stock from Buy to Neutral and cut its price target from $415 to $300 per share; JPMorgan kept its rating at Overweight while slashing its price target lower from $457 to $338. Julie Hyman and Josh Lipton take a look at these analyst calls referencing certain customer complaints about one of Lululemon's latest product designs. Lululemon's next earnings results are scheduled for release on Thursday, August 29. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

ChatGPT: Everything you need to know about the AI-powered chatbot

ChatGPT, OpenAI’s text-generating AI chatbot, has taken the world by storm since its launch in November 2022. What started as a tool to hyper-charge productivity through writing essays and code with short text prompts has evolved into a behemoth used by more than 92% of Fortune 500 companies. That growth has propelled OpenAI itself into becoming one of the most-hyped companies in recent memory. And its latest partnership with Apple for its upcoming generative AI offering, Apple Intelligence, has

Southwest Airlines' open seating is a thing of the past

Southwest Airlines (LUV) has announced it will no longer have an open seating model, forcing customers to have assigned seating for them unless they pay a premium seating option. The company will also offer premium extended leg room, and, with the introduction of overnight and redeye flights, have 24-hour operation capabilities. Wealth! Anchor Madison Mills breaks down the latest update from Southwest and what it means for customers. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino

US GDP, Ford and Stellantis, airline earnings: 3 Things

Stock futures (^DJI, ^IXIC, ^GSPC) are reacting to the latest GDP (gross domestic product) print showing the US economy to have grown by 2.8% in 2024's second quarter. Ford (F) stock is taking a hit in Thursday's pre-market trading after reporting mixed second quarter results, beating on revenue ($47.8 billion vs. $43.37 billion estimated) but falling short on adjusted earnings ($0.47 per share vs. $0.67 estimated). Fellow automaker Stellantis (STLA) is also falling on its earnings results out this morning. Shares of American Airlines (AAL) and Southwest Airlines (LUV) slip after reporting pricing headwinds impacting profits and forward guidance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

Alphabet’s earnings set the stage for tech’s AI question

Google announced its second quarter earnings after the bell on Tuesday, but the company still isn't sharing much in terms of when it expects to see major growth from its enormous AI spending.

CrowdStrike says over 97% of Windows sensors back online

The outage happened because the advanced platform contained a fault that forced computers running Microsoft's Windows operating system to crash and show the so-called blue screen of death. Microsoft said on Saturday about 8.5 million Windows devices had been affected in the outage that had left flights grounded, forced broadcasters off air and left customers without access to services such as healthcare or banking."Our recovery efforts have been enhanced thanks to the development of automatic recovery techniques and by mobilizing all our resources to support our customers," Kurtz said in a post on LinkedIn.

Dow Jones Futures: Nvidia Fights AI Fatigue, ServiceNow Spikes; Inflation Data Due

Small caps jumped as the Nasdaq and Nvidia fight AI fatigue. ServiceNow broke out. The Fed's key inflation gauge is due.

Why Southwest Stock Soared More Than 5% Higher Today

A convincing bottom-line beat and notable strategic change excited investors about the company's future.

Dexcom shares plunge after it cuts annual revenue forecast

Medical device maker Dexcom cut its annual revenue forecast on Thursday, blaming a restructuring of its sales team, fewer customers, and lower revenue from each customer, sending its shares plummeting 40% in extended trading. The company expects 2024 revenue of about $4 billion to $4.05 billion, compared with its previous forecast of $4.20 billion to $4.35 billion. Analysts on an average were expecting $4.33 billion, according to LSEG data.

Dexcom Stock Plummets on Earnings Miss, Guidance Cut

Shares of Dexcom plunged in extended trading Thursday after the company reported second-quarter earnings that missed estimates and slashed its full-year revenue guidance.

L3Harris raises 2024 outlook amid global tensions

L3Harris raised its outlook for 2024 after beating Wall Street estimates for second-quarter profit on Thursday, betting on sustained weapons demand and robust defense spending amid escalating global security concerns. The defense firm raised its 2024 adjusted profit forecast to be between $12.85 and $13.15 per share, up from its previous range of $12.70 to $13.05. Analysts were expecting $12.97 per share, according to LSEG.

Skechers, Deckers, Norfolk Southern, L3Harris Technologies: After-hours movers

It's earnings season, meaning lots of companies are seeing some moves in after-hours trading.  Skechers (SKX) reported mixed second quarter results. Adjusted earnings of $0.97 per share topped the estimate of $0.95. Net sales, however, fell short, $2.16 billion compared to the expectation of $2.23 billion. The company also raised its full-year guidance and announced a $1 billion share repurchase plan. Deckers Outdoors (DECK) popped in after-hours trading. The footwear company reported Q1 results that topped estimates, with net sales of $825.3 million coming in better than the $807.8 million Wall Street was expecting. Deckers also raised its full-year profit forecast. Norfolk Southern (NSC) rose after its second quarter adjusted earnings per share of $3.06 beat the Street estimate of $2.87. L3Harris Technologies (LHX) posted a better-than-expected profit in Q2, while revenue of $5.30 billion matched expectations. The defense company also raised its full-year guidance. For more expert insight and the latest market action, click here to watch this full episode of Asking For A Trend. This post was written by Stephanie Mikulich.

Norfolk Southern (NSC) Q2 Earnings and Revenues Beat Estimates

Norfolk Southern (NSC) delivered earnings and revenue surprises of 7.37% and 0.72%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?

Norfolk Southern beats second-quarter profit estimates on higher pricing

AST SpaceMobile to Provide Quarterly Business Update on August 14, 2024

MIDLAND, Texas, July 25, 2024--AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, and designed for both commercial and government applications, today announced it will hold a quarterly business update conference call on Wednesday, August 14th at 5:00pm (Eastern Time).

Royal Caribbean Cruises (RCL) Q2 2024 Earnings Call Transcript

RCL earnings call for the period ending June 30, 2024.

Texas Roadhouse (TXRH) Q2 Earnings and Revenues Surpass Estimates

Texas Roadhouse (TXRH) delivered earnings and revenue surprises of 7.83% and 0.04%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?

DexCom (DXCM) Q2 Earnings Surpass Estimates

DexCom (DXCM) delivered earnings and revenue surprises of 10.26% and 3.10%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?