Luke Kawa7/14/25

More tariff threats can’t keep stocks down for long

US stocks shook off early losses tied to fresh tariff announcements from President Donald Trump to finish positive.

The S&P 500 inched up 0.1%, the Nasdaq 100 rose 0.3%, and the Russell 2000 advanced by 0.7%.

Communication services and financials were the best-performing S&P sector ETFs, while energy posted a loss of more than 1%.

Momentum stocks, a source of relative (though meager) weakness so far in the third quarter, had a particularly solid day, with the iShares Momentum ETF’s 1.3% gain propelling it back to near the top of its recent range.

Palantir was one of the top stocks in the S&P 500, hitting an intraday all-time high and closing at a fresh record peak.

Rocket Lab jumped doubled digits after Citi hiked its price target on the stock to $50 from $33.

Nvidia-backed Nebius soared after Goldman Sachs initiated coverage on the data center startup with a “buy” rating.

Mark Zuckerberg’s announcement that Meta was committing to hundreds of billions of dollar in spending on AI data centers provided only a short-lived jolt for the company’s shares.

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WSJ reports GameStop is preparing an offer for eBay and has quietly been building a stake in the company

GameStop is preparing an offer for eBay and has been quietly building a stake in the company, according to a report from The Wall Street Journal, a move it calls “part of CEO Ryan Cohen’s audacious plan to turn the trailer into a $100 billion-plus juggernaut.”

From WSJ:

GameStop, which has a market value of around $12 billion, has been quietly building a stake in eBay’s shares ahead of a potential offer, the people said. EBay is several times GameStop’s size, with a market value of around $46 billion.
GameStop could submit an offer for eBay as soon as later this month, the people said.
If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders, one of the people added. Details of the potential offer for eBay couldn’t be learned.

Shares of GameStop rose 7.4% after hours following the report, while eBay soared 12%.

GameStop Preparing Offer for eBay

GameStop Preparing Offer for eBay

GameStop, which has a market value of around $12 billion, has been quietly building a stake in eBay’s shares ahead of a potential offer, the people said. EBay is several times GameStop’s size, with a market value of around $46 billion.
GameStop could submit an offer for eBay as soon as later this month, the people said.
If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders, one of the people added. Details of the potential offer for eBay couldn’t be learned.

Shares of GameStop rose 7.4% after hours following the report, while eBay soared 12%.

Tasha Matsumoto

Stocks set second consecutive closing highs

The S&P 500 posted its fifth weekly gain, its longest weekly winning streak since 2024.

Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

Max Knoblauch12h

US airlines pop on report Spirit preparing to shut down as government rescue deal fails to gain support

US airlines are spiking on Friday following a Wall Street Journal report that low-budget carrier Spirit Airlines is preparing to shut down. According to CBS News, the airline could cease operations as early as Saturday, barring an intervention.

In late April, President Trump said he would “love somebody to buy Spirit.” The administration weighed a $500 million rescue package, though it received significant blowback from members of Congress and ultimately didn’t receive support from Spirit’s creditors.

On Friday, Trump told reporters that the administration has given Spirit a “final proposal.”

Shares of Spirit’s rivals surged on the report, with budget carriers like Frontier Airlines and JetBlue climbing by double digits. The big four — Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines — rose by low single digits. Alaska Air and Allegiant also saw a bump.

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Helena Cheng13h

Estée Lauder gets a glow-up after earnings beat, guidance hike

Estée Lauder shares are soaring after the beauty giant released Q3 earnings results that topped expectations and raised its full-year outlook, while also expanding its restructuring plan.

The key numbers:

Revenue of $3.71 billion (compared to analysts’ estimate of $3.69 billion).
Adjusted earnings per share of $0.91 (estimate: $0.65).

Estée Lauder also lifted its full-year earnings outlook to a range of $2.35 to $2.45 per share, up from $2.05 to $2.25 previously.

The bottom line is getting flattered by job cuts, with management increasing that target to as many as 10,000 roles, up from a prior range of 5,800 to 7,000, as part of a broader effort to streamline operations and shift toward faster-growing sales channels.

The rally comes after a tough stretch for the stock, which is down more than 20% year to date, with the results inspiring hope that its turnaround efforts will bear fruit.

CEO Stéphane de La Faverie said fiscal 2026 is “promising to be the pivotal year we intended,” with the company expecting to restore organic sales growth and expand margins for the first time in four years.

Amid these positive signals, Estée Lauder flagged risks from tariffs, geopolitical tensions, and potential disruptions tied to the Middle East.

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