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Friday, August 8

Noteworthy US mega-cap moves today: Eli Lilly and Co (LLY) +1.8%. 

Recent economic data from Canada indicates a concerning trend, as the unemployment rate held steady at 6.9% in July, slightly below expectations of 7%. Additionally, employment unexpectedly shrank by 40,800 jobs during the same month after an increase in June; this drop was primarily driven by significant losses in full-time positions across various sectors.

In Japan, discussions around potential interest rate hikes are gaining traction within the Bank of Japan (BoJ), with some policymakers suggesting that action may be necessary to address rising inflation risks. The BoJ's recent summary highlighted concerns regarding external factors such as U.S. tariffs impacting domestic growth and emphasized caution about immediate monetary policy changes despite improving economic forecasts.

Meanwhile, President Trump's administration has implemented new reciprocal tariffs affecting over ninety nations while nominating Stephen Miran for a temporary position on the Federal Reserve Board following Governor Adriana Kugler’s resignation. This political development adds uncertainty to future Fed policies amid mixed signals from labor market reports indicating cooling conditions that could influence upcoming decisions on interest rates.

VanEck Gold Miners ETF (GDX) [+1.3%]
The VanEck Gold Miners ETF (GDX) has seen a price increase of 1.3% in pre-market trading on Friday. This uptick coincides with recent surges in gold prices, driven by the U.S. imposing tariffs on one-kilogram gold bar imports, which is expected to disrupt established trade flows between key markets. Additionally, expectations for a Federal Reserve rate cut in September, following weak U.S. employment data, have further bolstered demand for gold as a non-yielding asset. Social media discussions have highlighted the potential long-term implications of the tariff decision on the gold market's structure and liquidity distribution. Among GDX's holdings, Wheaton Precious Metals Corp reported strong quarterly financial results, surpassing analyst estimates and receiving a "buy" rating, contributing positively to the ETF's performance.

TTD | -32.6% | -9.5B
Trade Desk Inc | Advertising
Trade Desk Inc. reported its second-quarter earnings, revealing revenue of $694 million, surpassing analyst expectations of $685 million. Despite this, the company experienced a significant stock decline of approximately 30% following the announcement, attributed to a slowdown in revenue growth to 19% year-over-year from 26% and concerns over future guidance. The Q3 revenue guidance was set at a minimum of $717 million, slightly below the consensus estimate of $718 million. CEO Jeff Green cited tariff pressures impacting large global advertisers as a contributing factor to the slowdown. Additionally, the appointment of Alex Kayyal as the new Chief Financial Officer, effective August 21, has been met with mixed reactions. Analysts have responded by downgrading Trade Desk's stock to Underperform, reflecting apprehensions regarding competitive pressures and execution challenges.

PINS | -13.0% | -3.0B
Pinterest Inc | Interactive Media & Services
Pinterest Inc. reported its Q2 earnings, revealing an adjusted EPS of 0.33, slightly below the consensus estimate of 0.35. Revenue reached 998.23 million, exceeding expectations of 974.01 million, with a year-over-year growth of 17%. The company also saw a significant increase in global monthly active users, up 11% to 578 million. Despite these positive metrics, shares fell approximately 12.8% in after-hours trading, influenced by a noted 25% decline in ad pricing due to increased impressions from lower-priced international markets. Looking ahead, Pinterest anticipates Q3 revenue between 1.033 billion and 1.053 billion, slightly above prior estimates. Goldman Sachs reiterated a Buy rating with a price target of 43, highlighting strong digital ad demand and a positive outlook on growth, particularly among Gen Z users who now comprise over half of the user base.

TWLO | -14.1% | -2.5B
Twilio Inc | Internet Services & Infrastructure
Twilio Inc reported its Q2 earnings on August 7, 2025, revealing an adjusted EPS of 1.19, surpassing the estimate of 1.05. Revenue reached 1.228 billion, exceeding expectations of 1.188 billion and reflecting a year-over-year growth of 13.39%. Despite these positive results, Twilio's Q3 guidance projected an adjusted EPS between 1.01 and 1.06, below the estimated 1.14, with revenue expectations of 1.245 billion to 1.255 billion versus the 1.213 billion estimate. Following this cautious outlook, shares dropped significantly in after-hours trading. Social media discussions highlighted the strong Q2 performance but turned negative as users noted the weaker-than-expected Q3 forecast, contributing to a decline of over 15% in the stock price shortly after the earnings release.

XYZ | +8.4% | +4.3B
Block Inc | Transaction & Payment Processing Services
Block Inc. reported its second-quarter financial results, revealing net revenue of 6.05 billion, a decline from 6.16 billion the previous year. Earnings per share rose significantly to 0.87 from 0.31 year-over-year, and net income to common shareholders increased to 538.56 million from 195.27 million. Despite missing analyst estimates for revenue and adjusted EPS, the company raised its full-year gross profit guidance to 10.17 billion, reflecting an expected growth of over 14%. CEO Jack Dorsey attributed this optimism to advancements in artificial intelligence, enhancing product development speed. Following the earnings report, Block's shares saw a notable increase of approximately 10% in after-hours trading, with multiple analysts adjusting their price targets positively in response to the results. Cash App gross profit grew by 16%, while Square's gross payment volume reached 64.25 billion.

EXPE | +14.9% | +4.3B
Expedia Group Inc | Hotels, Resorts & Cruise Lines
Expedia Group Inc. reported robust second-quarter results, with adjusted earnings per share of 4.24, surpassing analyst expectations of 3.90 and reflecting a 20.8% increase from the previous year. Revenue reached 3.79 billion, exceeding the consensus estimate of 3.71 billion by 2.3%, marking a year-over-year growth of 6.4%. The company raised its full-year revenue growth outlook to 3%-5% from 2%-4%. Gross bookings totaled 30.4 billion, up 5% year-over-year, driven by a 17% increase in B2B bookings and an 8% rise in hotel bookings. Following these results, multiple analysts raised their price targets significantly, with Wells Fargo setting it at 211 and B.Riley increasing theirs to 260. Social media discussions highlighted the positive financial performance, with a notable increase in EXPE's stock price in after-hours trading.

MP | +9.0% | +1.2B
MP Materials Corp | Diversified Metals & Mining
MP Materials Corp reported its Q2 financial results, revealing an adjusted loss of $0.13 per share, outperforming the consensus estimate of a $0.18 loss. Revenue reached $57.393 million, exceeding analyst expectations of $46.307 million and reflecting an 84% increase year-over-year. The company achieved record NdPr oxide production of 597 metric tons, a 119% rise from the previous year, and recorded its second-highest REO output at 13,145 metric tons, up 45% year-over-year. The Magnetics Segment generated $19.9 million in revenue with $8.1 million in adjusted EBITDA. Following these results, MP Materials' stock surged to all-time highs, buoyed by partnerships with the Department of Defense and Apple aimed at enhancing U.S. rare earth magnet supply chains. Jefferies upgraded the stock to "Buy," while BofA reiterated a positive outlook, citing improved NdPr prices and strong demand for its magnets business, which is sold out for the next decade.

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