GBP/USD tumbles during the North American session, with traders shrugging off high inflation in the United Kingdom (UK) as the White House pressures Federal Reserve (Fed) Governor Lisa Cook to step aside from the board.
Shares of SoundHound AI are falling again during Wednesday's trading session. The move lower in recent sessions comes at odds with the company's recent string of overwhelmingly positive developments.
A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
Amid strong selling pressure, the EUR/USD exchange rate has fallen to its lowest levels, near the 1.1630 support. The pair's losses came as the market's focus shifted to geopolitical developments and US-led efforts to mediate a deal in Ukraine.
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are testing crucial support levels following sharp corrections from recent highs, with traders closely monitoring whether these zones
In the second quarter of 2025, revenue fell 4% compared to last year, hitting 32.71 billion yuan ($4.56 billion), which was a little below what analysts were expecting.
Shares of online used car dealer Carvana (NYSE: CVNA)
fell 3.8% in the afternoon session after Hertz Global Holdings announced it will begin selling certified used cars on Amazon.com, a move that introduces a significant new competitor into the online vehicle market. The move allows shoppers to browse, finance, and purchase Hertz's pre-owned vehicles through the e-commerce giant's platform, Amazon Autos. This development is viewed as a direct challenge to Carvana's online sales model, raising concerns about increased competition in the digital used car market. Investors appear worried that the partnership between Hertz and Amazon could negatively impact Carvana's sales and market share. Furthermore, the new arrangement could lead to fewer of Hertz's used vehicles being sold through the Carvana platform, directly affecting its inventory and sales channels.
Shares of digital banking platform Nubank (NYSE:NU) jumped 3.7% in the afternoon session after receiving a rare double upgrade from Citi, which significantly boosted its rating on the stock. The firm issued a rare double upgrade, shifting its rating on the stock from “Sell” all the way to “Buy” and doubling its price target to $18 from $9. This dramatic shift in perspective follows Nu Holdings' strong second-quarter performance, which showed robust profit and revenue growth. Citi cited the potential for an earnings boost as a key reason for the change.
Shares of beauty products company Estée Lauder (NYSE:EL)
fell 4.9% in the afternoon session after the company reported a sharp decline in sales for its fourth quarter and provided a weaker-than-expected forecast for the upcoming fiscal year. Revenue for the quarter fell 11.9% year on year to $3.41 billion, meeting Wall Street’s expectations. However, other key metrics disappointed investors. While adjusted earnings of $0.09 per share met analyst estimates, it marked a significant drop from $0.64 in the same quarter last year. Furthermore, the company reported an adjusted EBITDA loss of $180 million, substantially missing analyst projections of a $318.8 million profit. Compounding the weak results, Estée Lauder issued guidance for its 2026 fiscal year with adjusted earnings per share expected to be between $1.90 and $2.10. The midpoint of this range is nearly 10% below the consensus analyst forecast, raising concerns about the company's profitability outlook.
Shares of general merchandise retailer Target (NYSE:TGT)
fell 7.6% in the afternoon session after the company reported mixed second quarter earnings. Traffic to its stores fell and gross margin slightly missed. Also, a new CEO was announced. On the other hand, revenue beat slightly, and full-year guidance was maintained. Overall, we think this was a mixed quarter. Investors were likely hoping for more, or were likely disappointed in the CEO announcement.
Shares of telecommunications company Dycom (NYSE:DY)
fell 8.5% in the afternoon session after the company reported mixed second-quarter 2025 results where revenues and forward guidance fell short of market expectations. The telecommunications infrastructure company posted second-quarter contract revenues of $1.38 billion. While this represented a 14.5% increase compared to the same period last year, it fell short of analyst estimates of $1.41 billion. Despite the revenue miss, Dycom delivered strong profitability. Its adjusted EBITDA of $205.5 million beat the consensus estimate of $191.9 million, and its earnings per share of $3.33 was a notable increase from $2.32 in the prior-year quarter. However, the company's revenue guidance for the upcoming third quarter of $1.41 billion also underwhelmed investors, coming in below Wall Street's forecast of $1.46 billion, overshadowing the profit beat.
Shares of healthcare services company Agilon Health (NYSE:AGL) fell 4.4% in the afternoon session after the company was downgraded by analysts at Bernstein from “Outperform” to “Market Perform”. The firm also slashed its price target on the stock by 65% to $1.40 from $4.00. Analyst Lance Wilkes cited “worse-than-expected margin pressures” following a disappointing quarter where the company's medical margin was a negative $53 million. This was primarily driven by lower-than-expected risk adjustment revenue for 2024 and 2025. Bernstein expressed concerns about agilon's reduced capital, which increases its cost of capital, and noted cash flow uncertainty after the company withdrew its fiscal year 2025 guidance.
Shares of cloud data platform provider Snowflake (NYSE:SNOW) jumped 3.2% in the after-market session after Bank of America lifted its rating on the company to 'Buy' from 'Neutral'. Analyst Bradley Sills of Bank of America Securities raised the rating, citing growing optimism ahead of Snowflake's second-quarter earnings report scheduled for August 27. The price target for the stock was also increased to $240 from $220. Sills highlighted that the cloud data company is experiencing strong momentum in three key areas: its core data warehouse business, as well as its emerging Cortex AI and Snowpark developer platforms. The analyst expressed strong conviction in the durability of Snowflake's AI-driven momentum and its ability to sustain growth.
Shares of furniture company La-Z-Boy (NYSE:LZB)
fell 13% in the afternoon session after the company reported disappointing second-quarter results and issued a weak forecast for the upcoming quarter. The furniture maker's adjusted earnings per share of $0.47 missed Wall Street's expectations by nearly 11%. While its revenue of $492.2 million was in line with estimates, it remained flat compared to the same period last year, signaling stagnant sales. Adding to investor concerns, La-Z-Boy's revenue guidance for the third quarter also came in below analysts' projections. Profitability took a hit as well, with the company's operating margin declining to 4.5% from 6.5% a year ago, indicating that rising costs were squeezing profits. This combination of missed earnings, a weak outlook, and shrinking profitability prompted a significant sell-off in the stock.
Shares of coconut water company The Vita Coco Company (NASDAQ:COCO)
jumped 6.3% in the afternoon session after an analyst at Piper Sandler upgraded the stock to 'Overweight' from 'Neutral'. The investment firm set a new price target of $39, representing a potential upside of 15% for investors. In its decision, Piper Sandler highlighted Vita Coco's robust ability to adapt its sourcing strategies to mitigate the impact of tariffs. This optimistic view from a Wall Street analyst signals growing confidence in the beverage company's financial resilience and future performance, which prompted a positive reaction from the market.
Shares of off-price retail company TJX (NYSE:TJX)
jumped 3.2% in the afternoon session after the company reported second-quarter results that surpassed Wall Street's expectations for both revenue and profit. The company's total revenue grew 6.9% year-over-year to $14.4 billion, beating analyst estimates. This performance was supported by a solid 4% increase in same-store sales, an industry metric that tracks sales at existing locations. Earnings per share came in at $1.10, which was 8.5% ahead of consensus forecasts. Despite the strong quarter, the company offered a mixed outlook. While its full-year earnings guidance was roughly in line with expectations, its revenue forecast for the upcoming third quarter came in below what analysts had anticipated. Investors, however, appeared to focus on the current quarter's strength, sending the stock higher.
Shares of manufacturer of analog chips Analog Devices (NASDAQ:ADI)
jumped 4% in the afternoon session after the company reported second-quarter 2025 financial results that surpassed analyst expectations and provided optimistic forward-looking guidance. The semiconductor firm announced second-quarter revenue of $2.88 billion, a 24.6% year-over-year increase that surpassed the consensus estimate of $2.76 billion. Adjusted earnings per share also came in ahead of projections at $2.05, compared to the expected $1.95.
Looking ahead, Analog Devices issued optimistic guidance for the third quarter, forecasting revenue of approximately $3.00 billion. This projection is significantly above Wall Street's expectation of $2.82 billion, signaling management's confidence in continued demand and a broader cyclical recovery in the semiconductor industry.
Goldman Sachs (NYSE:GS) expects the global stablecoin market to expand into the trillions of dollars in the coming years, a forecast that underscores Treasury Secretary Scott Bessent's efforts to position the sector as a major buyer of US
