Walmart Beat the Quarter and Lost 9% of Its Market Value
Revenue rose 5.9% to $187.9 billion with e-commerce up 23%, but the slowest U.S. comparable sales growth in six years and a cautious third-quarter outlook sent the shares tumbling.
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Business
Deals, IPOs and the corner office
Target's Earnings Doubled, and $1.65 of It Came From a Tariff Refund
Comparable sales rose 3.8% on stronger traffic, but the headline earnings figure of $4.11 a share included a one-time benefit from duties the Supreme Court invalidated in February.
Home Depot's Sales Rise 5.7% as Small Projects Carry a Weak Housing Market
Comparable sales grew 1.7%, nearly double what analysts expected, and the retailer reaffirmed its full-year guidance even as home sales stay depressed and construction slows.
The 100% Drug Tariff Takes Effect, With Exemptions for Companies That Build Here
A proclamation signed in April set a default rate of 100% on patented pharmaceutical imports, with sharply lower tiers for companies that commit to U.S. manufacturing or reach pricing agreements with the government.
Boeing's Deliveries Are the Highest Since 2018, and the FAA Has Loosened Its Grip
Second-quarter deliveries rose 14% to 171 aircraft, the backlog stands near $695 billion, and regulators restored the company's authority to issue final airworthiness certificates in July.
Twelve States Sue to Block the Warner Deal, and a Judge Hits Pause
Attorneys general filed suit in July seeking to stop the Paramount acquisition after the Justice Department cleared it, winning a temporary restraining order while reviews continue in Europe.
Intel's Foundry Finally Has Customers, and Washington Has a Stake in the Outcome
The chipmaker signed its first named external foundry customer under Lip-Bu Tan, began high-volume manufacturing on its 18A process, and has delivered an enormous paper gain on the federal government's equity position.
Small Business Optimism Has Fallen to Its Lowest Since 2020
Surveys show three-quarters of owners reporting tariff effects on their operations and cash flow named the top challenge, while barely four in ten credit applicants received all the financing they sought.