Key Takeaways
- Former President Donald Trump continued to pressure Federal Reserve Chair Jerome Powell for lower interest rates, stating the U.S. would "do better" with reduced rates and indicating he has potential replacements in mind for Powell.
- Charles Schwab Corp. (SCHW) announced a substantial $20 billion stock repurchase authorization, replacing a prior program, and declared a regular quarterly common stock dividend of $0.27 per share.
- Puma (PUMSY) reported a Q2 2025 adjusted EBIT loss of €13.2 million, citing €84.6 million in one-time costs and an estimated €80 million impact on gross profit from U.S. tariffs in 2025.
- SpaceX's Starlink experienced a widespread network outage affecting tens of thousands of users across multiple continents, occurring just one day after T-Mobile launched its satellite service utilizing Starlink's direct-to-cell technology.
Former President Donald Trump escalated his public campaign for lower interest rates during a visit to the Federal Reserve headquarters, reiterating his belief that the U.S. economy would perform better with reduced borrowing costs. Trump stated that "one thing has to happen — interest rates must come down" and indicated he has "one, maybe three names in mind to replace Powell," though he added there was "no pressure on him" and firing him was "not necessary." He described a recent discussion with Powell as "very productive" and noted Powell believed "the country is doing really well."
Trump also criticized the ongoing $2.5 billion renovation of the Federal Reserve's headquarters, calling it an "expensive job" that "got out of control." He commented on the "very luxurious situation" during a tour, despite stating he didn't want to be a "Monday morning quarterback" on the project.
In corporate news, Charles Schwab Corp. (SCHW) announced a significant capital allocation strategy. The company's board authorized a new $20 billion stock repurchase program, replacing the approximately $6.9 billion remaining under a previous authorization. Additionally, Schwab declared a regular quarterly common stock dividend of $0.27 per share and preferred stock dividends.
Meanwhile, sports company Puma (PUMSY) released preliminary Q2 2025 earnings, reporting an adjusted EBIT loss of €13.2 million. This loss was attributed partly to €84.6 million in one-time costs and an estimated €80 million hit to gross profit for 2025 due to U.S. tariffs. The company also revised its capital expenditure plans for 2025, now expecting to invest around €250 million.
In the telecommunications sector, SpaceX's Starlink experienced a major network outage on July 24, affecting tens of thousands of users globally. The disruption occurred just one day after T-Mobile launched its new satellite service, which leverages Starlink's direct-to-cell technology. Elon Musk stated that SpaceX would "address the root cause to ensure it doesn’t happen again."
Separately, Intel (INTC) successfully defended against a shareholder lawsuit concerning a $32 billion stock plunge. The lawsuit, which alleged that the company misled investors regarding its foundry business, was rejected in court.
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.