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Jul 16, 2025
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Morgan Stanley dropped 3.3% to $136.97 after the investment bank reported fiscal second quarter results ending in June.
Revenue in the quarter increased 12% to $16.8 billion from $15.0 billion, net income advanced to $3.5 billion from $3.1 billion, and diluted earnings per share rose to $2.13 from $1.82 a year ago.
Wealth management revenue surged to $7.7 billion from $6.8 billion, and institutional securities revenues advanced to $7.6 billion from $6.9 billion a year ago, respectively.
The chairman and chief executive officer said, “Wealth continues to deliver, adding $59 billion of net new assets and $43 billion of fee-based flows.
Total client assets across Wealth and Investment Management reached $8.2 trillion.
The firm repurchased $1.0 billion of its outstanding common stock during the quarter as part of its Share Repurchase Program.
The Board of Directors reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in the third quarter of 2025.
The company declared a $1.00 quarterly dividend per share, an increase of 7.5 cents, payable on August 15 to shareholders of record on July 31. -
Bank of America declined 0.6% to $45.49 after the financial service provider reported better-than-expected earnings.
Revenue in the second quarter advanced 4% to $26.5 billion from $25.4 billion, net income rose 3% to $7.1 billion from $6.9 billion, and diluted earnings per share soared 7% to 89 cents from 83 cents a year ago.
The company returned $7.3 billion to shareholders, $2.0 billion through common stock dividends and $5.3 billion in share repurchases, and announced plans to increase the quarterly common stock dividend 8% beginning in the third quarter.
Book value per common share rose 8% to $37.13; tangible book value per common share rose 9% to $27.71.
In the quarter, the return on average common shareholders' equity ratio was 10.0%; the return on average tangible common shareholders' equity ratio was 13.4%.
“We delivered another solid quarter, with earnings per share up seven percent from last year.
Net interest income grew for the fourth straight quarter, reflecting eight consecutive quarters of deposit growth and seven percent year-over-year loan growth," Chairman and CEO Brian Moynihan said in a statement to investors.
"Consumers remained resilient, with healthy spending and asset quality, and commercial borrower utilization rates rose," he added.
"So far this year, we have supplied more capital to our businesses and returned 40 percent more capital to shareholders in the first half of this year than last year,” reiterating the company's commitment to return capital to shareholders. -
Wells Fargo & Co. dropped 5.5% to $78.86 after the California-based bank reported fiscal second quarter results ending in June.
Consolidated revenue in the quarter edged up to $20.8 billion from $20.7 billion, net income advanced to $5.5 billion from $4.9 billion, and diluted earnings per share rose to $1.60 from $1.30 a year ago.
Chief Executive Officer Charlie Scharf commented, “As we have been investing to drive organic growth and improve the earnings capacity in each of our businesses, we have also been returning excess capital to shareholders."
During the first half of this year, the company repurchased over $6 billion of common stock, and the company plans to increase third-quarter common stock dividend by 12.5% to 45 cents from 40 cents per share. -
Citigroup Inc. gained 3.7% to $90.72 after the New York-based bank reported results for the second quarter of 2025.
Revenue decreased 7% to $20 billion from $21.7 billion, net income declined 20% to $3.2 billion from $4 billion, and diluted earnings per share fell to $1.50 from $1.96 a year ago.
The company’s operating expenses were down 2% to $13.2 billion compared to the prior year.
The company guided full-year revenue to be near the upper end of its previous guidance of $84 billion, and the company raised its dividend to 60 cents per share from 56 cents after the completion of the stress test on July 2. -
JPMorgan Chase & Co. fell 0.7% to $286.55 after the New York-based bank reported an 18% decline in profit in the second quarter.
Consolidated revenue in the quarter decreased to $44.9 billion from $50.2 billion, net income dropped to $15 billion from $18.1 billion, and diluted earnings per share fell to $5.24 from $6.12 a year ago.
Fixed-income trading increased 14% to $5.7 billion, equities trading revenue rose 15% to $3.2 billion, and investment banking fees advanced 7% to $2.5 billion.
The bank said provision for credit losses was $2.8 billion, lower than the $3.1 billion estimated by analysts.
“Earlier this month, we announced that the Board intends to increase our common dividend for the second time this year, resulting in a 20% cumulative increase compared with the fourth quarter of 2024.
We also repurchased $7 billion of common stock.
We ended the quarter with a 15% CET1 ratio, which remains far in excess of our required capital levels. In addition, we have an extraordinary amount of liquidity, with $1.5 trillion of cash and marketable securities,” the company said in a statement to investors. -
Levi Strauss & Co. increased 1.7% to $19.73 after the apparel and jeans company reported nearly a four-fold increase in quarterly earnings.
Consolidated revenue in the June quarter increased to $1.4 billion from $1.3 billion, net income jumped to $67 million from $18 million, and diluted earnings per share rose to 17 cents from 4 cents a year ago.
For the six-month period, revenue edged higher to $3 billion from $2.8 billion, net income soared to $202 million from $7.3 million, and diluted earnings per share advanced to 51 cents from 2 cents a year ago.
Geographically, in the Americas, net revenues increased 5% on a reported basis and 9% on an organic basis.
Organic revenue in the U.S. grew 7%, and the Levi’s® brand sales were up 9% globally.
The company's annual revenue guidance is based on the U.S. tariff rate of 30% on imports from China and 10% for the rest of the world for the remainder of the year and excludes the discontinued operations of Dockers.
The company revised higher annual revenue growth to between 1% and 2%, up from the previous estimate of a decline between 1% and 2%.
The organic net revenue growth range was raised to an increase between 4.5% and 5.5%, up from the previous range between 3.5% and 4.5%.
Gross margin expansion was revised to 80 basis points, lower than the previous estimate of up to 100 basis points, due to a 20-basis-point impact from tariffs, including cost control measures.
The company revised its adjusted diluted earnings per share higher by 5 cents to between $1.25 and $1.30, up from the previously estimated range between $1.20 and $1.25.
The company returned approximately $51 million to shareholders through dividends in the second quarter, an 8% increase from a year ago, representing a dividend of $0.13 per share.
As of June 1, the company had $560 million remaining under its current share repurchase authorization.
The company declared an increase in the dividend to $0.14 per share for the third quarter, totaling approximately $55 million, payable on August 8. -
WD-40 Co. declined 2.1% to $224.90, and the maintenance products maker reported a 5% rise in its earnings in the fiscal third quarter ending in June.
Consolidated revenue in the quarter increased to $156.9 million from $155 million, net income inched higher to $21 million from $19.8 million, and diluted earnings per share rose to $1.54 from $1.46 a year ago.
For the six-month period, revenue edged higher to $456.5 billion from $434.6 billion, net income soared to $69.8 million from $52.9 million, and diluted earnings per share advanced to $5.13 from $3.88 a year ago.
The company guided full-year net sales growth to narrow to between 6% and 9%, or $600 million and $620 million, after adjusting for estimated translation impacts of foreign currency.
Gross margin for the full year continues to be expected to be between 55% and 56%.
The company estimated the income tax rate to be around 22.5%.
The diluted earnings per share estimate was revised higher to between $5.30 and $5.60 based on an estimated 13.5 million weighted average shares outstanding.
This new range reflects anticipated growth of between 12% and 18% compared to 2024.
The company’s board of directors declared a regular quarterly dividend of $0.94 per share payable on July 31 to stockholders of record on July 18. -
PriceSmart Inc. increased by 0.7% to $107.70 after the warehouse club operator reported an 8% rise in its earnings in the fiscal third quarter ending in June.
Consolidated revenue in the June quarter inched higher to $1.3 billion from $1.2 billion, net income increased to $35.1 million from $32.5 million, and diluted earnings per share rose to $1.14 from $1.08 a year ago.
For the nine-month period, revenue advanced to $3.8 billion from $3.6 billion, net income soared to $166.3 million from $109.8 million, and diluted earnings per share edged higher to $3.80 from $3.62 a year ago. -
Bassett Furniture Industries incorporated gained 7.4% to $18.27 after the furniture maker’s net income swung to a profit in the fiscal second quarter.
Consolidated revenue in the quarter inched higher to $84.3 million from $83.4 million, net income swung to a profit of $1.9 million from a loss of $7.2 million, and diluted income per share swung to a profit of 22 cents from a loss of 82 cents a year ago.
For the six-month period, revenue decreased to $166.5 million from $170 million, net income swung to a profit of $3.7 million from a loss of $8.3 million, and diluted income per share swung to a profit of 43 cents from a loss of 96 cents a year ago. -
Delta Air Lines Inc. gained 12.4% to $56.81 after the international air carrier reported a 62% jump in its earnings in the fiscal second quarter ending in June.
Revenue decreased to $16.6 billion from $16.7 billion, net income jumped to $2.1 billion from $1.3 billion, and diluted earnings per share rose to $3.27 from $2.1 a year ago.
For the six-month period, revenue edged higher to $30.7 billion from $30.4 billion, net income soared to $2.4 billion from $1.3 billion, and diluted earnings per share advanced to $3.63 from $2.08 a year ago.
The Delta Air Lines estimated full-year earnings per share to range between $5.25 and $6.25 and free cash flow between $3 billion and $4 billion.
"For the September quarter, we expect total revenue to be flat to up 4% compared to the prior year, with unit revenue trends expected to improve through the second half of the year as we continue to adjust capacity and the industry further rationalizes supply," the company said in a statement to investors.
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