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AutoNation Revs Higher
In further earnings news, AutoNation (NYSE: AN) earned $5.46 in Q2, down 29% year over year but $0.77 better than analysts had forecast. Revenue for the quarter also exceeded expectations at just under $7 billion.
AutoNation stock is down 1.7% so far today. The Vanguard S&P 500 ETF is still up 0.2%.
This article will be updated throughout the day, so check back often for more daily updates.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) notched another all-time high last night, 583.20. Another win today would put the ETF up more than 1% for the week and, so far, so good. In premarket trading, the Voo is up about 0.2%.
What will it take to keep the rally going? Trade deal announcements with Japan and Indonesia earlier in the week have already helped, and there’s hope a deal with the European Union is in the works. In the meantime, earnings reports must do the majority of the work keeping investors happy.
Last Night’s Earnings
And some of these companies aren’t doing a great job with that. Last night, S&P 500 component company Intel (Nasdaq: INTC) was expected to report a $0.01 per share profit, but delivered a $0.10 per share loss instead. Revenue came in well ahead of the $12 billion expected ($12.9 billion, to be precise). But profit margins were lousy.
On the plus side, Intel’s guidance for Q3 — $12.6 billion to $13.6 billion — was more than analysts were expecting. On the other hand, management noted that it’s laying off more workers however, taking its headcount down to 75,000 by the end of the year, from more than 96,000 last year. Severance costs are likely to weigh on earnings over the next couple quarters at least.
Shoemaker and S&P 500 component company Deckers (Nasdaq: DECK) also reported earnings last night, for its fiscal Q1 2026, and the news here was better. Earnings came in at $0.93 per share, $0.25 better than predicted. Sales were $965 million, much more than the $900.3 million expected.
Deckers also raised guidance for fiscal Q2 2026 to $1.50 to $1.55 per share. Management warned that quarterly sales, however, could be less than the $1.5 billion Wall Street is expecting.
Today’s Earnings
Oil refiner and S&P 500 component Phillips 66 (NYSE: PSX) also beat earnings in a report this morning. Q2 profits were $2.38 per share, $0.71 better than expected.
On the other hand, cable company Charter Communications (Nasdaq: CHTR) reported disappointing earnings of $9.18 per share, $0.40 worse than expected. Revenue was right on target at $13.8 billion.
The post Stock Market Live July 25: S&P 500 (VOO) Prepares to Set a New Weekly High Today appeared first on 24/7 Wall St..
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Author: Joel South
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