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Roblox a Winner!
Roblox (Nasdaq: RBLX) — not an S&P 500 component — is up a big 14% this morning despite reporting worse than expected “earnings.” Actually, a loss of $0.41 per share. Bookings, however, came in at $1.4 billion, nearly $200 million ahead of expectations, foreshadowing stronger revenue and profits in quarters to come.
Management further forecast bookings of about $1.6 billion in Q3, and $5.9 billion or even $6 billion for the year.
MassterCard Charges Ahead
In further S&P 500 component earnings news, MasterCard (
MasterCard stock is up 2.7%, and the Voo has retreated only a bit, still up 0.8%.
This article will be updated throughout the day, so check back often for more daily updates.
Treasury Secretary Scott Bessent told CNBC Thursday that, after two days of negotiations in Stockholm, Sweden, the U.S. and China “have the makings of a deal” to reduce tariffs on Chinese exports to the U.S. However, there’s still a few technical details to be worked out.” Notably, Bessent said nothing specific about President Trump’s threat to levy “secondary tariffs” on China in sanction for its role buying sanctioned Russian oil and gas.
Investors are still responding positively to the news, with the Vanguard S&P 500 ETF (NYSEMKT: VOO) up nearly 1% in pre-market trading.
In related news, however, the Commerce Department reported this morning that personal consumption expenditures (i.e. inflation) grew at an annualized rate of 2.6% in June, up significantly from the 2.1% rate in all of Q2, and ahead of the 2.5% rise economists had predicted. More durable “core” inflation was 2.8%, suggesting inflation is getting pulled higher over time.
President Trump criticized Federal Reserve Chair Jerome Powell for being “Too Late” lowering interest rates, and also “TOO ANGRY, TOO STUPID, & TOO POLITICAL.” But with inflation ticking up, it’s hard to see how the Fed can in good conscience fuel even more inflation by lowering rates.
Until something changes on the inflation trend, it’s likely we’ll see further conflict between the President and the Fed Chairman (whom he appointed in his own last term).
Earnings
In earnings news, two megacap S&P 500 component companies reported after hours last night.
Meta Platforms (Nasdaq: META) reported Q2 profit of $7.14 per share, well ahead of the analyst forecast for $5.85. Revenue came in $2.8 billion ahead of expectations at $47.5 billion, and is still getting bigger.
Meta forecast that in Q3, it will do $47.5 billion to $50.5 billion in business. Management noted that Q4 revenue will continue to grow sequentially, but perhaps not quite as fast as in Q3.
Microsoft (Nasdaq: MSFT) also reported last night, for its own fiscal Q4 2025. Earnings were $3.65 per share, $0.28 more than expected. Microsoft’s revenue beat was also smaller than Meta’s, with $76.4 billion in Q4 sales surpassing estimates by $2.6 billion.
This morning, it was Comcast‘s (Nasdaq: CMCSA) turn to report. Q2 earnings were $1.25 per share, nine cents better than expected, and revenue was $30.3 billion — also ahead of expectations.
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