Tesla reported a surge in sales and earnings but operating margin suffered on higher discounts. Netflix reported flat quarterly earnings growth. Pool Corporation said second quarter sales declined and the company lowered its annual earnings outlook.
ABB reported strong gains in quarterly sales and earnings after demand for systems for process industries rose. Anglo American said overall production rose 11% and copper output soared 56%. Electrolux reported weak consumer demand drove down quarterly sales 8%.
Ally Financial reported a decline in quarterly earnings despite elevated net interest margin. Goldman Sachs said quarterly earnings and revenue declined after investment banking fees plunged. Carvana struck a deal to lower $1.2 billion debt.
Bank of America, PNC Bank and Bank of New York reported a surge in net interest income on higher interest rates and a decline in average deposits in the quarter. Lockheed Martin revised higher its annual sales outlook.
Ford Motor lowered prices on its electric F150 pickup truck by as much as $10,000. Tesla announced the building of its first electric pickup truck after two years of delays. Microsoft and Sony struck a deal to keep Activision's popular game on the PlayStation gaming console.
JPMorgan revenue, earnings and credit loss provisions surged. BlackRock reported a slight decline in revenues but asset flows were positive across all client types and regions. UnitedHealth Group tightened annual earnings outlook range.
The UK-based asset manager said assets under management declined. Ericsson swung to a quarterly loss in its latest quarter. Nokia estimated lower annual earnings.
Delta Air Lines reported record quarterly sales and earnings. Disney extended tenure of its chief executive by two more years. PepsiCo reported better-than-expected revenue. MillerKnoll reported better-than-expected earnings.
The fears of larger rate hikes dominated market trading and stocks of home builders, regional banks, steelmakers and semiconductor chip makers fell more than 2%. JetBlue said it will terminate its partnership with American Airlines.
American Equity Investment Life Holding agreed to be acquired by Brookfield Reinsurance. UPS and Teamsters union contract talks reach an impasse. Wolfspeed and Renesas signed a 10-year agreement to supply silicon carbide wafers.
Embattled French retailer Casino Guichard received two equity investment proposals. J Sainsbury's reiterated its full-year outlook. Aegon said it completed its operations merger with ASR.
AstraZeneca declined after preliminary results for a phase three trial of a lung cancer treatment lagged expectations. Tesla reported record second quarter production and deliveries. Rivian Automotive reiterated annual production target.
Dominion Energy lowered its operating earnings outlook for the second quarter. Nike Inc reported a sharp decline in quarterly earnings but the company hiked its dividend. Constellation Brands forecasted a decline in wine and spirit sales but beer sales to rise in its fiscal year.
Berkshire Hathaway increased its stake in Occidental Petroleum. Overstock..com completed its purchase of Bed Bath & Beyond brand. Micron Technology reported mixed quarterly results.
Serco Plc lifted its revenue and earning outlook for the first-half and full-year. H&M reported better-than-expected results in the latest quarter. Renault lifted its operating margin outlook for the year.
