Key Takeaways
- Eli Lilly (LLY), Flutter (OTCPK:PDYPY), Expedia (EXPE), and Block (SQ) reported strong second-quarter earnings, with most raising their full-year guidance, signaling robust performance in key sectors.
- Former President Trump's recent actions, including the firing of the Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer and calls for a new census excluding undocumented immigrants, have stirred market uncertainty and drawn criticism for politicizing economic data.
- Ripple announced its acquisition of stablecoin platform Rail for $200 million, a strategic move to strengthen its position in digital asset payments infrastructure.
- Manulife (MFC) shares fell after its second-quarter earnings missed analyst expectations, primarily due to adverse U.S. mortality claims and increased credit loss provisions.
- Omada Health (OMDA) surpassed revenue expectations in its first earnings report since its IPO, while MP Materials (MP) reported mixed Q2 results, beating revenue and adjusted loss per share estimates.
Major companies across technology and pharmaceuticals delivered strong second-quarter results, providing a boost to market sentiment despite underlying political and economic uncertainties. Eli Lilly (LLY) reported a significant beat on both GAAP revenue and non-GAAP earnings per share (EPS), driven by surging demand for its weight-loss drugs like Mounjaro and Zepbound. The pharmaceutical giant's revenue increased 38% year-over-year to $15.56 billion, and it raised its full-year revenue guidance to a range of $60 billion to $62 billion.
In the tech and travel sectors, Flutter (OTCPK:PDYPY), Expedia (EXPE), and Block (SQ) also reported robust performances. Flutter, the parent company of FanDuel, exceeded second-quarter earnings expectations with revenue up 16% year-over-year to $4.19 billion and raised its full-year guidance. Expedia Group (EXPE) lifted its full-year guidance after reporting a 6% increase in revenue to $3.79 billion and a 5% rise in gross bookings, driven by strong B2B and advertising segments. Block (SQ) shares surged 11% on a full-year guidance boost, despite missing analyst estimates on Q2 revenue and EPS, with adjusted operating income growing 38% year-over-year.
However, the market also reacted to political developments. Former President Trump's recent actions, including the firing of Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer and his call for a "new and highly accurate CENSUS" that would exclude undocumented immigrants, have raised concerns about the independence of federal data agencies. This move follows a period of mixed economic data and Trump's previous attempts to influence the census.
In the cryptocurrency space, Ripple announced its intent to acquire stablecoin platform Rail for $200 million. This acquisition is aimed at strengthening Ripple's position in digital asset payments infrastructure, integrating Rail's virtual accounts and automated back-office tools.
Conversely, Manulife (MFC) experienced a dip in its share price after missing second-quarter earnings expectations. The company reported a 2% decline in core earnings, primarily attributed to unfavorable life insurance claims experience in the U.S. and increased expected credit loss provisions, despite a 72% increase in net income to $1.79 billion.
Other notable earnings reports included Omada Health (OMDA), which beat on revenue in its first earnings report since its IPO, posting $61 million in revenue, a 49% increase year-over-year. MP Materials (MP) reported mixed Q2 2025 results, with revenue of $57.4 million surpassing estimates of $40.9 million, but a loss per share of $0.19, though its adjusted loss per share of $0.13 was better than the estimated $0.20 loss. Additionally, the U.S. imposed tariffs on one-kilo gold bars, a move that could impact Switzerland, a major refining hub.
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.