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CLOSING BELL
Did Anyone's Earnings Not Suck Tonight?

The market fell Tuesday after a post-weekend turnaround that turned out too weak to push prices higher on day two. It felt like Tuesday was more cautious with trade deals up in the air, with the anti-Russian oil tariffs arriving soon, high pharmaceutical levies on the horizon, and the upcoming China trade deal yet to be announced.

After-hours reports were rough, across tech and semiconductor firms that fell after posting results that were not up to snuff. Maybe Wednesday trade will be better. 👀

Today's issue covers AMD earnings were not enough, but it had friends falling with it Tuesday afternoon, and more.  📰

With the final numbers for indexes and the ETFs that track them, 4 of 11 sectors closed green, with materials $XLB ( ▲ 0.71% ) leading and utilities $XLU ( ▼ 1.07% ) lagging.

S&P 500 $SPY ( ▼ 0.51% ) 6,299

Nasdaq 100 $QQQ ( ▼ 0.68% ) 23,301

Russell 2000 $IWM ( ▲ 0.51% ) 2,225

Dow Jones $DIA ( ▼ 0.15% ) 44,111

EARNINGS
Tuesday Afternoon Trade Punished Imperfect Reports 🔨 

AMD fell after reporting results Tuesday, reporting adjusted earnings that were basically at analyst estimates. The semiconductor stock has been on a nearly 140% climb since an April low, and its close call to estimates might have pushed investors to sell.

AMD was down about 4%, posting a Q2 adjusted EPS $0.48, on revenue of $7.69B Analysts expected earnings of $0.48/share on revenue of $7.43B, according to FactSet. Bloomberg averages had a higher $0.49/share expectation.

“We achieved 32% year-over-year revenue growth and generated record free cash flow this quarter, reflecting our disciplined execution,” said Jean Hu, AMD EVP, CFO, and Treasurer. “Our strategic investments across hardware, software, and systems position us well to support robust future growth and drive long-term shareholder value.”

Granted, semiconductor stocks are on a tear and should expect trouble beating higher expectations, but the firm's looking guidance was also above range: $8.4B-$9B for the current quarter. Will investors worry that Nvidia, due to report later this month, will have expectations as high as this to beat for a stock gain?

Well, for one thing, the smaller chipmaker said its AMD M1308 AI chips were still banned in China, and expected an $800M loss. Nvidia, meanwhile, expects a $8B loss on its China-focused chips if trade rules do not change. 😱 

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This post, and the information contained herein, has been provided to you solely for informational purposes. Neither the information, nor any opinion contained in this post, constitutes an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities or other financial instruments or to participate in any advisory services or trading strategy. Nothing contained in this post constitutes investment, legal or tax advice. You should make your own investigations and evaluations of the information herein. Any decisions based on information contained in this post are the sole responsibility of the viewer. None of Galaxy Digital nor any of its affiliates, shareholders, partners, members, directors, officers, management, employees or representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of any of the information or any other information (whether communicated in written or oral form) transmitted or made available to you. Each of the aforementioned parties expressly disclaims any and all liability relating to or resulting from the use of this information. Certain information contained herein (including financial information) may have been obtained from published and non-published sources. Such information has not been independently verified. Galaxy Digital and its affiliates may buy, sell or hold investments in some of the companies, digital assets or protocols discussed in this post. Except where otherwise indicated, the information in this post is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date hereof.

MORE EARNINGS NEWS
AMD Was Not Alone. SNAP, SMCI, And Rivian Fell After Hours 🙁 

AMD was not alone. SMCI fell after it reported an all-around miss. Its Q4 EPS came in below estimates, and reported nearly $100M less in Q4 sales than analysts had hoped for. It trended to #1 on Stocktwits, and retail was still becoming bullish, despite a 16% drop.

$OPEN ( ▲ 2.44% ), everyone’s favorite meme stock (or have you forgotten its one week of recent fame?) also dropped after reporting what everyone feared: the real estate home buying app is still not turning a profit.

Q2 revenue came in above estimates, at $1.6B, but Opendoor again posted a net loss, at -4C below what analysts, and a recent rash of retail investors, had hoped. The company has beaten analyst estimates for earnings per share in nine straight quarters, according to Benzinga, until Tuesday.

$RIVN ( ▼ 2.1% ) fell after reporting a $1.12B loss in Q2. $LCID ( ▲ 0.42% ) was right there alongside its EV kin, falling after missing Q2 results and cutting its production forecast.

While we are talking about Tuesday reports, we have to mention $SNAP ( ▼ 0.85% ). Snapchat fell 15% after reporting it had shot itself in the foot. The social media company beat revenue estimates, but said its sales were blunted in Q2 after its advertising platform updates let major advertisers win contracts at heavy discounts.

The company reversed the changes, and also blamed trade war de minimis changes for hurting cheap product sales that are advertised on Snapchat. Together, the issues resulted in a $262M loss for the quarter.

It was not all bad, as Hinge Health $HNGE ( 0.0% ) climbed after reporting its first quarterly results since the firm’s IPO impressed. The company lost $13/share, but posted higher revenue than expected.

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POPS & DROPS
Top Stocktwits News Stories 🗞️ 

Vertex Pharmaceuticals slumped 20% after revealing pipeline setbacks, triggering Wall Street skepticism despite a Q2 beat—retail traders now see a buying opportunity. Read more

BP doubles down on upstream oil projects after Q2 profit beat, citing strong execution and a major Brazil discovery; retail chatter surges 2,100% with sentiment firmly bullish. Read more

Tesla faces a class-action lawsuit from shareholders alleging securities fraud tied to robotaxi claims; retail message volume spiked 273%, but sentiment remains neutral. Read more

Caterpillar warns tariffs will squeeze full-year profit margins despite beating Q2 revenue estimates; retail message volume soared 1,150% as sentiment flipped to extremely bullish. Read more

Oklo hits a record high after reports that Trump-backed NASA plans could fast-track a nuclear reactor on the moon by 2030; retail sentiment turns slightly bullish despite lingering skepticism. Read more

OpenAI releases two open-weight AI models for deployment on Amazon’s AWS via Bedrock and Sagemaker, marking its first public release in over five years; retail sentiment is neutral on OpenAI but extremely bullish on Amazon. Read more

Pfizer surged 5% after beating Q2 expectations and raising guidance, as its CEO reveals active talks with the Trump administration on reducing U.S. drug prices and managing tariffs; retail sentiment shifts sharply to extremely bullish. Read more

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

TRADE
Days Since No Trade Policy Changes (0)

Relegated to the bottom of today’s issue, for the very reason that it has become boring, here are trade and monetary policy updates from the White House:

Trump warned of a 35% tariff on EU goods and confirmed a “substantial” hike for India within 24 hours, with pharma tariffs possibly reaching 250%. Read more

Trump confirmed four finalists to replace Fed Chair Powell, excluding Treasury Secretary Scott Bessent, who declined consideration. Read more

U.S. trade deficit dropped to $60.2 billion in June, beating forecasts as Trump’s tariffs triggered a sharp decline in goods imports. Read more

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: Crude Oil Inventories (10:30 AM), FOMC Member Daly Speaks (12:45 PM), 10-Year Note Auction (1:00 PM). 📊

Pre-Market Earnings: Walt Disney ($DIS), Shopify ($SHOP), Uber Technologies ($UBER), Aurora Cannabis ($ACB), and Novavax ($NVAX). 🛏️

After-Hour Earnings: Virgin Galactic Holdings ($SPCE), DraftKings ($DKNG), Beyond Meat ($BYND), Airbnb ($ABNB), and Occidental Petroleum ($OXY). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Links That Don’t Suck 🌐

⚠️ Tesla, Musk sued by shareholders over Robotaxi claims

📺️ Earning More but in Worse Shape: Hardship Overwhelms Many American Families

👀 Prediction markets see Hassett and Warsh as Fed chair front-runners as Trump talks up the ‘Kevins’

🏠️ AI is already driving up unemployment among young tech workers, according to Goldman Sachs 

😨 Democrats invoke rare Senate rule to force release of Epstein documents

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