BlackRock shares fell Tuesday after the world’s largest asset manager reported mixed second-quarter earnings — presenting a buying opportunity for patient investors. Revenue in the second quarter rose 12.9% year over year to $5.42 billion, but missed the $5.46 billion estimate, according to LSEG. Adjusted earnings per share (EPS) of $12.05 topped expectations of $10.82, LSEG data showed. Assets under management (AUM) totaled $12.53 trillion at the end of the quarter, above the consensus estimate of $12.15 trillion, according to FactSet. BlackRock stock came into the print at all-time highs, so we’re not all that surprised that investors are doing…
Author: usaeverydaylife
The Federal Reserve is in a holding pattern on interest rates – and some banks are similarly keeping a steady hand on yields for certificates of deposit. In June, average CD rates were relatively unchanged on the month, according to a July 7 report from Morgan Stanley. The highest average CD rate among the banks in the firm’s coverage ticked up 1 basis point to 3.94%. The average rate on one-to-12-month CDs inched higher by 1 basis point to 3.9%. One basis point equals one one-hundredth of a percent, or 0.01%. Earnings calls from banks should shed some light on…
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan.Steve Fecht for ChevroletGeneral Motors said Tuesday it will move production of a gas-powered SUV to an assembly plant in Michigan and add manufacturing of pickup trucks in its home state.”GM will begin production of the Cadillac Escalade, as well as the Chevrolet Silverado and GMC Sierra light duty pickups at Orion Assembly in early 2027 to help meet continued strong customer demand,” the Detroit automaker said in a statement. The Escalade…
Circle Internet Group Initial Public Offering at the New York Stock Exchange in New York City, U.S., June 5, 2025. NYSECircle shares slid on Tuesday after the U.S. House of Representatives failed to clear a key procedural hurdle that would have teed up votes on long-awaited crypto-related bills.The move dealt a major setback to the digital asset industry, which had cast this week as a turning point for regulatory clarity in Washington, D.C.Circle, the stablecoin issuer that’s soared in value since its public market debut last month, fell more than 5% after the vote. Crypto exchange Coinbase slipped about 2%.Even…
Storm clouds hover over the U.S. Capitol on July 1, 2025 in Washington, DC.Chip Somodevilla | Getty ImagesSeveral cryptocurrency-related bills backed by President Donald Trump failed to clear a key procedural hurdle in the House of Representatives on Tuesday, dealing a major blow to the crypto industry.The final vote was 196-223, with 13 Republicans voting with Democrats to block the procedural motion. House leadership tentatively plans to hold another vote later in the day Tuesday to advance the legislation.It was unclear Tuesday whether the second vote would be for an identical rule and the same bills, or whether House Republican…
Wells Fargo reported better-than-expected second-quarter results before Tuesday’s opening bell. However, the stock was under pressure after management reduced guidance on a key banking metric. Total revenue for the three months ending June 30 increased 0.6% year over year to $20.8 billion, beating analysts’ expectations of $20.77 billion, according to market data provider LSEG. Adjusted earnings per share of $1.54 per share exceeded Wall Street’s consensus estimate of $1.41 per share, LSEG data showed. EPS excludes a 6-cent per share gain associated with the company’s acquisition of the remaining interest in its merchant services joint venture. WFC YTD mountain Wells…
As earnings season kicks off in earnest, Goldman Sachs warns that investors should stay away from certain names. This week is a big one for second-quarter earnings, with 35 stocks in the S & P 500 — or around 7% of the index — on the docket to report their latest results. The big banks — including JPMorgan , Citigroup , Wells Fargo , BlackRock , Bank of America , Goldman Sachs and Morgan Stanley — are on the schedule. This week’s headliners also include Johnson & Johnson , United Airlines , PepsiCo , Netflix and 3M . Earnings season…
The Pentagon is taking immediate action to boost critical mineral production in the U.S. and counter China’s dominance of the supply chain for rare earth magnets, a defense official told CNBC on Tuesday.The Defense Department last week agreed to buy a direct equity stake in MP Materials, which will make the U.S. government the miner’s largest shareholder. MP operates the only rare earth mine in the U.S. located at Mountain Pass, California, and a magnet plant in Fort Worth, Texas.When asked whether the Pentagon is considering similar investments in other U.S. mining companies, the defense official said it is looking…
JoeBen Bevirt, founder and CEO of Joby Aviation, stands near an electric air taxi by Joby Aviation at the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023.Roselle Chen | ReutersJoby Aviation is ramping up its manufacturing capabilities in the U.S. as it races to roll out air taxi service in 2026.The electric vertical takeoff and landing (eVTOL) maker said Tuesday that it’s launching production at its remodeled components facility in Dayton, Ohio, and plans to double capacity at its Marina, California, manufacturing hub.”Reimagining urban mobility takes speed, scale, and precision manufacturing. Our expanded manufacturing footprint in…
Jannik Sinner lifts the Gentlemen’s Singles Trophy following his victory against Carlos Alcaraz of Spain at The Championships Wimbledon 2025, July 13, 2025 in London, England.Clive Brunskill | Getty Images Sport | Getty ImagesJannik Sinner won his first Wimbledon title on Sunday after an epic match at the grass-court major, but the young champion started his athletic career on the ski slopes, not the tennis court.The 23-year-old, who grew up in the mountainous region of South Tyrol in Italy, defeated two-time defending champion Carlos Alcaraz in London to win his fourth Grand Slam title. Alcaraz had won the past five…
