Top Must-Read Stock News
Last week, a panel of judges ruled against Trump’s tariffs. Stock markets rose at first in the morning, only for the rally to fade. Barely a day later, the U.S. appeals court overturned the ruling for now.
Gap (GAP) shares lost 2.5% in the last week in response. Margin pressures will worsen as the retailer books costs related to tariffs. Analysts are expecting a $150 million impact on Gap’s operations.
In the technology sector, Dell Technologies (DELL) posted strong second-quarter results. The server division benefited from the strong demand associated with the AI buildout.
Marvell Technology (MRVL) slumped after posting quarterly results. Hyperscaler sales growth did not meet expectations. Customers cannot overspend on both hyperscaler and AI needs.
In the electric vehicle market, Tesla (TSLA) shares continued its uptrend. CEO Elon Musk’s allegedly exited DOGE. Shareholders are unsure that Musk will sever his ties to the initiative aimed at reducing government costs. They demand that Musk work at least 40 hours a week as CEO of the EV firm.
Global competitive pressures will worsen considerably for Tesla. BYD (BYDDF) posted strong sales in Europe, Xpeng (XPEV) announced new self-driving technology availability for its vehicles, and Li Auto (LI) posted strong sales.
In the U.S., cuts in EV subsidies and cancellations of loan support for clean energy initiatives will hurt sales. Expect Lucid (LCID) and Rivian (RIVN) to perform poorly as sales weaken.
