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The Vanguard S&P 500 ETF (NYSEMKT: VOO) is inching higher premarket, up about 0.1%.
There’s one notable non-earnings item on newsfeeds today, with Bloomberg reporting that Alphabet (Nasdaq: GOOG) (Nasdaq: GOOGL) is making a bigger push in artificial intelligence today. According to the news agency, Alphabet’s Google unit is seeking to recruit up to 20 national news outlets to join it in a new AI project, licensing data from the agencies’ news stories to feed into its AI. Alphabet stock is up 0.7% premarket on the news.
In the absence of much big economics news, though, earnings continue to dominate the news today. So let’s dive right into those reports, with a focus on big S&P 500 companies:
Earnings
Truckmaker Paccar (Nasdaq: PCAR) reported $1.37 per share in its Q2 report this morning, better than expected, and with $7.5 billion in revenue that likewise exceeded expectations.
Lockheed Martin‘s (NYSE: LMT) report is more of a disappointment. The defense giant reported a profit of $1.46 per share for the quarter, much less than the $6.54 per share that analysts had forecast. Revenue of $18.2 billion was less of a disappointment, but still short of Wall Street’s $18.6 billion prediction.
Two other S&P 500 component defense companies also reported earnings this morning: Northrop Grumman (NYSE: NOC) and RTX (NYSE: RTX). Both of these defense contractors beat on both top and bottom lines, with RTX reporting $1.56 per share and $21.6 billion in revenue, and Northrop reporting $8.15 per share and $10.4 billion.
Finally, paint company Sherwin-Williams (NYSE: SHW) disappointed investors this morning, reporting $3.38 per share in Q2 profit, versus analysts’ forecast for $3.80. Revenue was slightly better than the $6.3 billion forecast, however the company dimmed even that small bright note of hope by warning that full-year 2025 earnings will be less than hoped: $10.11 to $10.41 per share, and not $11.89 as Wall Street had forecast.
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