markets

Nia Warfield8/27/25

Abercrombie & Fitch posts Q2 beat and lifts full-year outlook — but braces for bigger tariff hit

Abercrombie & Fitch posted stronger-than-expected Q2 results, fueled by record quarterly sales and its 11th straight quarter of growth.

Adjusted earnings per share came in at $2.32, compared with Wall Street’s estimate of $2.30 and the company’s previous guidance of $2.10 to $2.30. Revenue landed at $1.2 billion, in line with the Street’s estimates and above the company’s previous forecast of $1.13 billion to $1.15 billion. Meanwhile, same-store sales rose 3%, handily topping consensus estimates of 1.8%.

Looking ahead, Abercrombie raised its full-year outlook. The retailer now expects net sales growth of 5% to 7% and diluted EPS of $10.00 to $10.50. That compares with its prior forecast of 3% to 6% sales growth and EPS of $9.50 to $10.50. Wall Street, meanwhile, has been looking for sales growth of 5.2% and adjusted earnings of $10.21 per share.

Abercrombie has been under pressure as tariffs weigh on profits. Management previously said that fiscal 2025 gross profit could take a $50 million hit from tariffs, but now expects that to cost about $90 million. Analysts say the performance of Abercrombie’s Cali-based sibling, Hollister, is key to sustaining growth as demand for its namesake brand cools. Hollister delivered its best-ever second quarter for net sales, up 19%.

Abercrombie shares were up 37% year to date heading into earnings.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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