#earnings

#earnings

Macy's is coming up for air, topping earnings estimates and delivering the best comparable sales jump in 12 consecutive quarters. With $4.8 billion in net sales, the retail company exceeded the company's guidance, raising its full-year financial guidance after cutting it earlier this year, the company announced in its second quarter earnings report. In addition to is namesake brand, Bloomingdale's and Bluemercury, both owned by Macy's, also saw comparable sales growth for a 4th and 18th consecutive quarter respectively.

The market dropped almost 20% in April. It is now 34% above its 52-week high. There is no single reason to think it will stop rising, except that it is already rising. The market is expensive, based on S&P ratio yardsticks. However, strong earnings, particularly in the big tech sector, can offset this. Big tech rules the market value. Big tech earnings were super.

One very positive item for investors when earnings season rolls around every quarter is that the big money center and investment banks are always among the first to report. This year was no different, as all the major financials were released early and, for the most part, all delivered outstanding numbers. As with all sectors, the tariffs are weighing on sentiment and affecting companies' ability to provide forward guidance that they feel comfortable with.

Modest gains on Wall Street lifted the stock market to an all-time high Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia. The S&P 500 rose 0.2%, good enough to nudge the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite closed 0.2% higher. Technology companies led the way higher, outweighing declines in communication services and other sectors.

FOA reported an $80 million profit in the second quarter flat compared to the first quarter but a sharp turnaround from the $5 million loss in the same period last year. CEO Graham Fleming attributed the performance to consistent execution, rising profitability, and the growing relevance of home equity solutions for retirement. FOA's origination volume topped the high end of its quarterly guidance, reaching $602 million from April through June a 7% increase from the prior quarter and 35% higher year over year.

Chipotle Mexican Grill Inc. ( NYSE: CMG) launched several major promotional events in the past month, including National Avocado Day, the return of the popular Chipotle IQ trivia game, and a partnership with musician Alex Warren. Second-quarter results included revenue growth but traffic and comparable sales declines. Since that quarterly report, the stock has retreated 17.6%. The share price fell to a 52-week low of $41.18 this month and has recovered 4.3% since then. It is also 28.3% lower since the beginning of the year, underperforming the S&P 500 in that time. Analysts remain optimistic, though. On average, they recommend buying shares and have a consensus price target that suggests more than 34% upside in the next year.

Fabrinet shares have rallied 88% since April 21st due to positive news, largely driven by increased capital spending from hyperscalers on AI data center projects.

"Frankly, it is difficult to project the true potential of this new entity, but we know it is big." This reflects the widespread confusion surrounding the AOL Time Warner merger.

AppLovin's revenue surged 77% to $1.26 billion, surpassing analyst expectations, with revenue per installation rising 70% and installations increasing by 8%.

Coco Gauff, Carlos Alcaraz, and Naomi Osaka were recognized among the highest-paid players in 2024, reflecting the enormous financial rewards of professional tennis.

Seven MPs from the Freedom party, earning over 12,000 a month from side jobs, reveal hypocrisy for champions of the working class, drawing strong public criticism.

While I think Reddit's absolutely worth buying at these levels, even after today's monster move, stocks like these are only worth owning if you can stomach some serious volatility.