Key Takeaways
- Union Pacific (UNP) reported robust second-quarter results, with earnings per share (EPS) of $3.15, significantly exceeding analyst estimates of $2.92, alongside Q2 revenue of $6.2 billion.
- TotalEnergies (TTE) confirmed a $2 billion quarterly share buyback target, while its CEO warned that the European Union's ban on diesel refined from Russian crude has pushed up diesel prices more than the market initially estimated.
- U.S. June building permits were revised downwards to a 0.1% decline from an initial 0.2% increase, with the annual rate now standing at 1.393 million units, signaling a slight moderation in housing activity.
Union Pacific (UNP) delivered a strong performance in its second-quarter earnings, with EPS reaching $3.15, comfortably beating the $2.92 estimate. The railway giant also reported Q2 revenue of $6,200 million, surpassing the $6,150 million estimate, and recorded a net income of $1,900 million. The company affirmed its 2025 outlook, indicating continued confidence in its operational trajectory.
In the energy sector, TotalEnergies (TTE) announced a $2 billion quarterly buyback target, contingent on oil prices holding around $70 per barrel. TotalEnergies' CEO also commented on the impact of the EU's ban on diesel refined from Russian crude, stating that it is actively driving up diesel prices and that the market underestimated the true impact of this policy.
Meanwhile, new economic data revealed a downward revision for U.S. June building permits. The figure was adjusted to a -0.1% decline from an initial 0.2% increase. This revision brings the annual rate of building permits to 1.393 million units from the previously reported 1.397 million units, suggesting a slight cooling trend in the housing construction sector.
In broader geopolitical and economic discussions, a senior EU official, Bjorn Seibert, is reportedly engaged in U.S. trade talks rather than discussions with Beijing. This engagement highlights where the EU's current trade priorities lie, focusing on transatlantic relations.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.