{"id":50571,"date":"2025-07-16T07:08:40","date_gmt":"2025-07-16T11:08:40","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-snapshot-bank-of-america-jj-impress-while-mortgage-applications-dip\/50571\/"},"modified":"2025-07-16T07:08:40","modified_gmt":"2025-07-16T11:08:40","slug":"market-snapshot-bank-of-america-jj-impress-while-mortgage-applications-dip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-snapshot-bank-of-america-jj-impress-while-mortgage-applications-dip\/50571\/","title":{"rendered":"Market Snapshot: Bank of America, J&#038;J Impress While Mortgage Applications Dip"},"content":{"rendered":"<h2><strong>Key Takeaways<\/strong><\/h2>\n<ul>\n<li><strong>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>)<\/strong> reported stronger-than-expected Q2 2025 earnings, with profit, Net Interest Income (NII), and Investment Banking revenue all topping estimates, while provisions for credit losses and expenses were lower than anticipated.<\/li>\n<li><strong>US MBA Mortgage Applications<\/strong> plummeted by <strong>10.0%<\/strong> for the week ending July 11, reversing the previous week&#39;s gain, as the <strong>30-year mortgage rate<\/strong> edged up to <strong>6.82%<\/strong>.<\/li>\n<li><strong>Johnson &amp; Johnson (<a href=\"\/stock\/JNJ\">JNJ<\/a>)<\/strong> exceeded Q2 2025 earnings per share and revenue expectations, subsequently raising its full-year sales and adjusted operating EPS guidance.<\/li>\n<li><strong>UNFI (<a href=\"\/stock\/UNFI\">UNFI<\/a>)<\/strong> revised its full-year net sales guidance upwards to <strong>$31.6 billion to $31.8 billion<\/strong>, but narrowed its adjusted EBITDA outlook slightly downwards to <strong>$535 million to $565 million<\/strong>.<\/li>\n<li><strong>ASML (<a href=\"\/stock\/ASML\">ASML<\/a>)<\/strong> shares fell in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> following weak revenue guidance for the next quarter and a narrowed 2025 outlook, citing tariff uncertainty.<\/li>\n<\/ul>\n<p>Major financial institutions delivered mixed but generally positive earnings reports today, while key economic indicators showed a slowdown in US housing activity. Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>) led the banking sector with a robust Q2 2025 performance.<\/p>\n<p>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>) reported Q2 2025 earnings that surpassed analyst expectations across several key metrics. The bank&#39;s Net Interest Income (NII) reached <strong>$14.67 billion<\/strong>, exceeding the estimated <strong>$14.59 billion<\/strong>, and Investment Banking Revenue came in strong at <strong>$1.43 billion<\/strong> against an estimate of <strong>$1.27 billion<\/strong>. Loans increased to <strong>$1.15 trillion<\/strong> (est <strong>$1.12 trillion<\/strong>), and total deposits grew to <strong>$2.01 trillion<\/strong> (est <strong>$1.99 trillion<\/strong>). The bank&#39;s provision for credit losses was lower than expected at <strong>$1.59 billion<\/strong> (est <strong>$1.64 billion<\/strong>), contributing to the positive profit outcome.<\/p>\n<p>In other banking news, PNC Financial (<a href=\"\/stock\/PNC\">PNC<\/a>) also posted a strong Q2 2025, with diluted EPS of <strong>$3.85<\/strong> significantly beating the <strong>$3.54<\/strong> estimate, and revenue of <strong>$5.7 billion<\/strong> topping the <strong>$5.6 billion<\/strong> forecast. Loans for PNC reached <strong>$326.34 billion<\/strong>, surpassing the <strong>$322.39 billion<\/strong> estimate, and provisions for credit losses were lower than anticipated at <strong>$254 million<\/strong>.<\/p>\n<p>However, the US housing market showed signs of cooling, with MBA Mortgage Applications dropping by <strong>10.0%<\/strong> for the week ending July 11, a sharp reversal from the prior week&#39;s <strong>9.4%<\/strong> increase. This decline coincides with an uptick in the <strong>30-year mortgage rate<\/strong>, which rose to <strong>6.82%<\/strong> from <strong>6.77%<\/strong>.<\/p>\n<p>Healthcare giant Johnson &amp; Johnson (<a href=\"\/stock\/JNJ\">JNJ<\/a>) reported a successful second quarter, with adjusted EPS of <strong>$2.77<\/strong> and sales reaching <strong>$23.748 billion<\/strong>, outperforming the <strong>$22.84 billion<\/strong> estimate. The company subsequently raised its full-year sales guidance to a range of <strong>$93.2 billion to $93.6 billion<\/strong> (previously <strong>$91 billion to $91.8 billion<\/strong>) and adjusted operating EPS to <strong>$10.63 to $10.73<\/strong> (previously <strong>$10.50 to $10.70<\/strong>).<\/p>\n<p>On the corporate guidance front, UNFI (<a href=\"\/stock\/UNFI\">UNFI<\/a>) provided an updated outlook for its fiscal year, projecting net sales between <strong>$31.6 billion and $31.8 billion<\/strong>, an increase from its prior range of <strong>$31.3 billion to $31.7 billion<\/strong>. However, the company narrowed its adjusted EBITDA guidance to <strong>$535 million to $565 million<\/strong>, slightly down from the previous <strong>$550 million to $580 million<\/strong>.<\/p>\n<p>Shares of ASML (<a href=\"\/stock\/ASML\">ASML<\/a>) experienced a pre-market dip of <strong>8%<\/strong> after the company issued weak revenue guidance for the upcoming quarter and narrowed its 2025 outlook, citing ongoing tariff uncertainty. Ford Motor Co (<a href=\"\/stock\/F\">F<\/a>) announced a field service action for fuel injectors, estimating the cost at <strong>$570 million<\/strong>, which will be treated as a special item in its Q2 2025 results but will not impact adjusted EBIT.<\/p>\n<p>In international economic news, South Africa&#39;s retail sales for May grew by <strong>4.2%<\/strong> year-over-year, falling short of the <strong>4.5%<\/strong> estimate and the revised <strong>5.2%<\/strong> from the previous month. Month-over-month retail sales also saw a marginal increase of <strong>0.1%<\/strong>, down from the revised <strong>1.1%<\/strong> prior. The Bundesbank indicated that Germany&#39;s economy likely stagnated in the second quarter.<\/p>\n<p>Diageo (<a href=\"\/stock\/DEO\">DEO<\/a>) shares gained <strong>3.5%<\/strong> following reports that the company is set to replace its Chief Executive, Debra Crew. Geopolitical tensions also remain in focus, with Iran&#39;s Supreme Leader Khamenei stating that the US is an accomplice to Israel&#39;s crimes and claiming Iran&#39;s capability to inflict greater damage on enemies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bank of America (BAC) reported stronger-than-expected Q2 2025 earnings, with profit, Net Interest Income (NII), and Investment Banking 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