Market Update
Stock Movers: On Semiconductor, Wayfair
Scott Peters
05 Aug, 2025
New York City
Wayfair Inc. surged 7% to $73.51 after the online furniture retailer’s net income swung to a profit in the fiscal fourth quarter.
Consolidated revenue in the quarter inched up to $3.2 billion from $3.1 billion, net income swung to a profit of $15 million from a loss of $42 million, and diluted income per share swung to a profit of 11 cents from a loss of 34 cents a year ago.
The import tax imposed by the Trump administration on shipments from China and Asia and the expected surge in tariff rates from August 12 supported the rise in sales in the current quarter.
For the fiscal year 2025, revenue advanced to $6 billion from $5.8 billion, net loss dropped to $98 million from $290 million, and diluted losses per share dropped to 77 cents from $2.39 a year ago.
Active customers decreased by 4.5% to 21.0 million, and the last twelve-month net revenue per active customer increased by 5.9% to $572 a year earlier.
During the second quarter, orders per customer, measured as LTM orders divided by active customers, were 1.86 compared to 1.85 for the second quarter of 2024.
Net cash provided by operating activities was $273 million, and non-GAAP free cash flow was $230 million.
Orders delivered in the second quarter of both 2025 and 2024 were 10.0 million.
During the three and six months ended June 30, 2025, the company recorded a $6 million and $31 million gain on debt extinguishment upon repurchase of $80 million of 2025 Notes and $696 million of 2026 Notes, respectively.
ON Semiconductor fell 15% to 47.90 after the semiconductor manufacturer reporting a 50% plunge in quarterly profit from a year ago.
Revenue decreased to $1.4 billion from $1.7 billion, net income dropped to $170.3 million from $338.2 million, and diluted earnings per share fell to 41 cents from 78 cents a year ago.
For the fiscal year 2025, revenue fell to $2.9 billion from $3.6 billion, after-tax income swung to a loss of $313.5 million from a profit of $792.1 million, and diluted earnings per share swung to a loss of 76 cents from a profit of $1.82 a year ago.
The company said it returned over 100% of free cash flow year-to-date through share repurchases.
The company said cash from operations was $184.3 million and free cash flow was $106.1 million.
Stock Movers: On Semiconductor, Wayfair
Scott Peters
05 Aug, 2025
New York City
Wayfair Inc. surged 7% to $73.51 after the online furniture retailer’s net income swung to a profit in the fiscal fourth quarter.
Consolidated revenue in the quarter inched up to $3.2 billion from $3.1 billion, net income swung to a profit of $15 million from a loss of $42 million, and diluted income per share swung to a profit of 11 cents from a loss of 34 cents a year ago.
The import tax imposed by the Trump administration on shipments from China and Asia and the expected surge in tariff rates from August 12 supported the rise in sales in the current quarter.
For the fiscal year 2025, revenue advanced to $6 billion from $5.8 billion, net loss dropped to $98 million from $290 million, and diluted losses per share dropped to 77 cents from $2.39 a year ago.
Active customers decreased by 4.5% to 21.0 million, and the last twelve-month net revenue per active customer increased by 5.9% to $572 a year earlier.
During the second quarter, orders per customer, measured as LTM orders divided by active customers, were 1.86 compared to 1.85 for the second quarter of 2024.
Net cash provided by operating activities was $273 million, and non-GAAP free cash flow was $230 million.
Orders delivered in the second quarter of both 2025 and 2024 were 10.0 million.
During the three and six months ended June 30, 2025, the company recorded a $6 million and $31 million gain on debt extinguishment upon repurchase of $80 million of 2025 Notes and $696 million of 2026 Notes, respectively.
Stock Movers: Wayfair
Scott Peters
04 Aug, 2025
New York City
Wayfair Inc. surged 7% to $73.51 after the online furniture retailer’s net income swung to a profit in the fiscal fourth quarter.
Consolidated revenue in the quarter inched up to $3.2 billion from $3.1 billion, net income swung to a profit of $15 million from a loss of $42 million, and diluted income per share swung to a profit of 11 cents from a loss of 34 cents a year ago.
For the fiscal year 2025, revenue advanced to $6 billion from $5.8 billion, net loss dropped to $98 million from $290 million, and diluted losses per share dropped to 77 cents from $2.39 a year ago.
Active customers decreased by 4.5% to 21.0 million, and the last twelve month net revenue per active customer increased by 5.9% to $572 a year earlier.
During the second quarter, orders per customer, measured as LTM orders divided by active customers, were 1.86 compared to 1.85 for the second quarter of 2024.
Net cash provided by operating activities was $273 million, and non-GAAP free cash flow was $230 million.
Orders delivered in the second quarter of both 2025 and 2024 were 10.0 million.
During the three and six months ended June 30, 2025, the company recorded a $6 million and $31 million gain on debt extinguishment upon repurchase of $80 million of 2025 Notes and $696 million in aggregate principal amount of the 2026 Notes, respectively.
Japan Indexes Closed Higher Tracking Gains On Wall Street
Akira Ito
05 Aug, 2025
Tokyo
Market sentiment in Tokyo recovered, reflecting gains on Wall Street in overnight trading.
The Nikkei 225 Stock Average gained 0.7%, and the broader Topix advanced 0.8% as investors reviewed minutes of the meeting in June.
The Bank of Japan's policymakers left the door open for possible rate hikes if trade tensions ease; however, the committee members consider the current rates appropriate amid lingering geopolitical uncertainty.
Investors are worried that the steady rise in domestic prices could fuel inflation further, forcing the Bank of Japan to raise rates faster than expected.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.7% to 40,550.51, and the broader Topix added 0.8% to 2,938.66.
Mitsubishi Heavy Industries Ltd. jumped 4.7% to ¥3,712.0 after the company won an A$10 billion, or $4.7 billion, navy contract from Australia.
The company's upgraded Mogami design for frigates was selected by Australia's national security committee over Germany's MEKO A-200 built by Thyssen Krupp.
The company plans to build the first three vessels in Japan, and the remaining ones are to be built in Western Australia, according to Australian Deputy Prime Minister Richard Marles.
Nintendo Co. Ltd. edged up 0.6% to ¥13,330.0 and extended recent gains after the company reported strong quarterly results following the sale of Switch 2 hitting 5.8 million units.
Despite the strong quarterly results, the company retained its fiscal year sales outlook of 1.9 trillion yen and operating profit of 320 billion yen, and Switch 2 sales of 15 million units.
Japan Indexes Closed Higher Tracking Gains On Wall Street
Akira Ito
05 Aug, 2025
Tokyo
Market sentiment in Tokyo recovered, reflecting gains on Wall Street in overnight trading.
The Nikkei 225 Stock Average gained 0.7%, and the broader Topix advanced 0.8% as investors reviewed minutes of the meeting in June.
The Bank of Japan's policymakers left the door open for possible rate hikes if trade tensions ease; however, the committee members consider the current rates appropriate amid lingering geopolitical uncertainty.
Investors are worried that the steady rise in domestic prices could fuel inflation further, forcing the Bank of Japan to raise rates faster than expected.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged up 0.7% to 40,550.51, and the broader Topix added 0.8% to 2,938.66.
Mitsubishi Heavy Industries Ltd. jumped 4.7% to ¥3,712.0 after the company won an A$10 billion, or $4.7 billion, navy contract from Australia.
The company's upgraded Mogami design for frigates was selected by Australia's national security committee over Germany's MEKO A-200 built by Thyssen Krupp.
The company plans to build the first three vessels in Japan, and the remaining ones are to be built in Western Australia, according to Australian Deputy Prime Minister Richard Marles.
Nintendo Co. Ltd. edged up 0.6% to ¥13,330.0 and extended recent gains after the company reported strong quarterly results following the sale of Switch 2 hitting 5.8 million units.
Despite the strong quarterly results, the company retained its fiscal year sales outlook of 1.9 trillion yen and operating profit of 320 billion yen, and Switch 2 sales of 15 million units.
China Stocks Staged Mild Rebound Ahead of Earnings and Rate-Cut Optimism
Li Chen
05 Aug, 2025
Hong Kong
Risk appetite rebounded in China and Hong Kong as investors looked forward to corporate results.
The Hang Seng index and the CSI 300 index gained about 0.4% as investors awaited the release of earnings from leading banks and electrical goods makers.
Traders are factoring in a rate cut after the U.S. policy meeting in September, amid growing evidence of weakening labor market conditions.
The U.S. economy added far fewer net new jobs in July, and additions were sharply revised lower for May and June.
The sharp scale-back in hiring confirmed that businesses are worried about the erratic trade policy of the Trump administration and a jump in import tax negatively affecting profitability.
The rate cut by the U.S. Federal Reserve in September could spur more investments in emerging markets, supporting stocks in China and Hong Kong.
Market indexes in Japan, India, South Korea, and Australia gained in Tuesday's trading, following a rebound in New York in the overnight trading.
China Indexes and Stocks
The Hang Seng index increased 0.3% to 24,807.0, and the CSI 300 index advanced 0.35% to 4,084.57.
Bank of China advanced 1.1% to HK $4.59, HSBC Holdings edged down 0.5% to HK $96.35, China Merchants Bank edged up 0.2% to $51.10, and ICBC advanced 1% to HK $51.10.
Techtronic Industries edged up 0.2% to HK $95.05, and China Mobile Ltd. edged down 0.1% to HK $85.45.
China Stocks Staged Mild Rebound Ahead of Earnings and Rate-Cut Optimism
Li Chen
05 Aug, 2025
Hong Kong
Risk appetite rebounded in China and Hong Kong as investors looked forward to corporate results.
The Hang Seng index and the CSI 300 index gained about 0.4% as investors awaited the release of earnings from leading banks and electrical goods makers.
Traders are factoring in a rate cut after the U.S. policy meeting in September, amid growing evidence of weakening labor market conditions.
The U.S. economy added far fewer net new jobs in July, and additions were sharply revised lower for May and June.
The sharp scale-back in hiring confirmed that businesses are worried about the erratic trade policy of the Trump administration and a jump in import tax negatively affecting profitability.
The rate cut by the U.S. Federal Reserve in September could spur more investments in emerging markets, supporting stocks in China and Hong Kong.
Market indexes in Japan, India, South Korea, and Australia gained in Tuesday's trading, following a rebound in New York in the overnight trading.
China Indexes and Stocks
The Hang Seng index increased 0.3% to 24,807.0, and the CSI 300 index advanced 0.35% to 4,084.57.
Bank of China advanced 1.1% to HK $4.59, HSBC Holdings edged down 0.5% to HK $96.35, China Merchants Bank edged up 0.2% to $51.10, and ICBC advanced 1% to HK $51.10.
Techtronic Industries edged up 0.2% to HK $95.05, and China Mobile Ltd. edged down 0.1% to HK $85.45.
Stock Movers: Exxon Mobil, Chevron, T. Rowe Price
Scott Peters
04 Aug, 2025
New York City
Exxon Mobil Corp. declined 1.8% to $109.64 despite the energy company reporting a 23% plunge in quarterly profit from a year ago.
Revenue inched down to $81.5 billion from $93.1 billion, net income dropped to $7.1 billion from $9.2 billion, and diluted earnings per share fell to $1.64 from $2.14 a year ago.
For the six-month period, revenue decreased to $164.6 billion from $176.1 billion, net income declined to $148 billion from $174.6 billion, and diluted earnings per share edged down to $3.40 from $4.20 a year ago.
Cash flow from operating activities was $11.5 billion, and free cash flow was $5.4 billion.
The company expects full-year cash capital expenditures of $27 billion to $29 billion.
In the quarter, shareholder distributions totaled $9.2 billion, including $4.3 billion through dividends and $5.0 billion of share repurchases, and the company plan to complete $20 billion of stock repurchase this year.
The company has repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May of 2024.
Exxon declared a third-quarter dividend of $0.99 per share, payable on September 10 to shareholders on record on August 15.
Chevron Corp. fell 0.2% to $151.40 after the energy company reported a decline in earnings in the June quarter.
Revenue decreased to $44.8 billion from $51.2 billion, net income dropped to $2.5 billion from $4.4 billion, and diluted earnings per share fell to $1.45 from $2.43 a year ago.
For the six-month period, revenue decreased to $92.4 billion from $99.9 billion, net income declined to $60.3 billion from $99.4 billion, and diluted earnings per share edged down to $3.45 from $5.40 a year ago.
The company returned $5.5 billion of cash to shareholders during the quarter, including share repurchases of $2.6 billion and dividends of $2.9 billion.
The company's board declared a dividend of $1.77 per share, payable on September 10 to shareholders on record on August 19.
The company achieved record production levels of one million barrels of oil equivalent (BOE) per day in the Permian Basin and closed the acquisition of Hess Corporation in July, enhancing the company’s asset portfolio and long-term growth potential.
T. Rowe Price Group Inc. gained 1.6% to $103.06 after the investment management company reported mixed quarterly results.
Revenue decreased to $1.72 billion from $1.73 billion, net income jumped to $556 million from $485.3 million, and diluted earnings per share declined to $2.24 from $2.26 a year ago.
For the six-month period, revenue advanced to $3,487 million from $3,483 million, net income fell to $1.06 billion from $1.08 billion, and diluted earnings per share edged down to $4.47 from $4.64 a year ago.
T. Rowe announced preliminary month-end assets under management of $1.68 trillion as of June 30, 2025.
Shareholder distributions totaled $395 million, including dividends and share repurchases.
Stock Movers: Exxon Mobil, Chevron, T. Rowe Price
Scott Peters
04 Aug, 2025
New York City
Exxon Mobil Corp. declined 1.8% to $109.64 despite the energy company reporting a 23% plunge in quarterly profit from a year ago.
Revenue inched down to $81.5 billion from $93.1 billion, net income dropped to $7.1 billion from $9.2 billion, and diluted earnings per share fell to $1.64 from $2.14 a year ago.
For the six-month period, revenue decreased to $164.6 billion from $176.1 billion, net income declined to $148 billion from $174.6 billion, and diluted earnings per share edged down to $3.40 from $4.20 a year ago.
Cash flow from operating activities was $11.5 billion, and free cash flow was $5.4 billion.
The company expects full-year cash capital expenditures of $27 billion to $29 billion.
In the quarter, shareholder distributions totaled $9.2 billion, including $4.3 billion through dividends and $5.0 billion of share repurchases, and the company plan to complete $20 billion of stock repurchase this year.
The company has repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May of 2024.
Exxon declared a third-quarter dividend of $0.99 per share, payable on September 10 to shareholders on record on August 15.
Chevron Corp. fell 0.2% to $151.40 after the energy company reported a decline in earnings in the June quarter.
Revenue decreased to $44.8 billion from $51.2 billion, net income dropped to $2.5 billion from $4.4 billion, and diluted earnings per share fell to $1.45 from $2.43 a year ago.
For the six-month period, revenue decreased to $92.4 billion from $99.9 billion, net income declined to $60.3 billion from $99.4 billion, and diluted earnings per share edged down to $3.45 from $5.40 a year ago.
The company returned $5.5 billion of cash to shareholders during the quarter, including share repurchases of $2.6 billion and dividends of $2.9 billion.
The company's board declared a dividend of $1.77 per share, payable on September 10 to shareholders on record on August 19.
The company achieved record production levels of one million barrels of oil equivalent (BOE) per day in the Permian Basin and closed the acquisition of Hess Corporation in July, enhancing the company’s asset portfolio and long-term growth potential.
T. Rowe Price Group Inc. gained 1.6% to $103.06 after the investment management company reported mixed quarterly results.
Revenue decreased to $1.72 billion from $1.73 billion, net income jumped to $556 million from $485.3 million, and diluted earnings per share declined to $2.24 from $2.26 a year ago.
For the six-month period, revenue advanced to $3,487 million from $3,483 million, net income fell to $1.06 billion from $1.08 billion, and diluted earnings per share edged down to $4.47 from $4.64 a year ago.
T. Rowe announced preliminary month-end assets under management of $1.68 trillion as of June 30, 2025.
Shareholder distributions totaled $395 million, including dividends and share repurchases.