Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) posted a 3.8% decline in second-quarter operating earnings, dragged down by weak insurance underwriting and a hefty $3.8 billion impairment<a href="https://www.benzinga.com/markets/earnings/25/08/46815600/berkshire-hathaway-warns-of-adverse-consequences-on-most-if-not-all-operating-businesses-as-q2-results-reflect-mounting-global-pressures" target="_blank" rel="noreferrer noopener"> tied to its stake in The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>).</a>



However, other parts of Warren Buffett&#8217;s sprawling conglomerate helped cushion the blow.



Insurance underwriting profits fell 12% year-over-year to $1.99 billion, with reinsurance losses offsetting modest gains at GEICO.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/07/46713700/warren-buffetts-berkshire-now-earns-138-every-second-how-decades-old-bets-on-apple-coca-cola-chevron-are-paying-off-big-in-2025" rel="noreferrer noopener">Warren Buffett&#8217;s Berkshire Now Earns $138 Every Second—How Decades-Old Bets On Apple, Coca-Cola, Chevron Are Paying Off Big In 2025</a>



In contrast, BNSF Railway saw a rebound with 19.5% growth year over year to $1.47 billion, logging strong earnings growth on the back of improved freight volumes and better pricing.



However, BNSF&#8217;s outstanding debt was $23.9 billion as of June 30, 2025 an increase of $355 million since December 31.



Berkshire Hathaway Energy delivered steady results with 7.2% growth to $702 million, supported by regulated utilities that provided a buffer amid broader market uncertainty.



Berkshire didn&#8217;t repurchase any of its own shares during the period.



The firm&#8217;s earnings <a target="_blank" href="https://www.berkshirehathaway.com/qtrly/2ndqtr25.pdf" rel="noreferrer noopener">report </a>highlighted that it will not repurchase stock if it reduces consolidated cash, cash equivalents and U.S. Treasury Bills holdings to below $30 billion.



But Berkshire affirmed that it may &#8220;repurchase its shares any time that Warren Buffett, Berkshire&#8217;s Chairman of the Board and Chief Executive Officer, believes that the repurchase price is below Berkshire&#8217;s intrinsic value, conservatively determined.&#8221;



In this regard, The Wall Street Journal <a target="_blank" href="https://www.wsj.com/business/earnings/berkshire-hathaway-q2-earnings-warren-buffett-deeff105" rel="noreferrer noopener">quoted </a>CFRA Research analyst Cathy Seifert, &#8220;Against the backdrop of very mediocre results, the lack of buybacks does not send a particularly confident or inspiring message for investors looking to get back into the stock.&#8221;



An Edward Jones analyst, Kyle Sanders told Reuters, &#8220;Investors are getting antsy and want to seek activity, and nothing is happening. Buffett definitely views the market as overvalued, and will sit back and wait for something to come to him.&#8221;



On the consumer side, Berkshire&#8217;s results were more mixed. Consumer products group revenues declined 5.1% year over year.



Year-to-date revenues declined at Fruit of the Loom (down 11.7%), Garan (down 10.1%) and Jazwares (down 38.5%), primarily attributable to lower volumes, including the impacts of business restructurings and uncertainties arising from international trade policies and tariffs, which produced delays in orders and shipments, particularly in the second quarter.



Service group revenues increased 8.9% in the second quarter, with p pre-tax earnings increasing 15.2%.



Berkshire said that shareholders&#8217; equity at June 30 was $668 billion, an increase of $18.6 billion since December 31, 2024.



Still, the most eye-catching figure remains Berkshire&#8217;s growing cash reserves.



As of June 30, the firm sat on $344.1 billion, just below the March record. With valuations cooling and interest rates still elevated, analysts speculate that Berkshire could target acquisitions across sectors—ranging from mid-sized insurers and industrials to energy infrastructure and even logistics.



&#8220;He probably feels that there&#8217;s less opportunity to allocate their capital at the moment and he&#8217;s talked about being patient,&#8221; Macrae Sykes, a portfolio manager at Gabelli, which owns Berkshire shares <a target="_blank" href="https://www.wsj.com/business/earnings/berkshire-hathaway-q2-earnings-warren-buffett-deeff105" rel="noreferrer noopener">told </a>The Wall Street Journal. &#8220;That&#8217;s a continuation of the last several quarters.&#8221;



As Buffett prepares to step aside at the end of 2025, successor Greg Abel may be poised to put some of that war chest to work, reshaping Berkshire&#8217;s dealmaking legacy in a new era.



Read Next:



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<li><a href="https://www.benzinga.com/markets/market-summary/25/08/46815332/benzinga-bulls-and-bears-celestica-carvana-novo-nordisk-and-fed-holds-rates-despite-trump-pressure" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Celestica, Carvana, Novo Nordisk — And Fed Holds Rates Despite Trump Pressure</a></li>
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Earnings

Equities

News

Markets

Movers

General

Berkshire Buyback Pause Signals Caution Despite $344 Billion Cash Hoard, Rail Gains

Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has expressed concerns over potentially losing control of the electric vehicle giant <a href="https://www.benzinga.com/markets/25/04/44657033/elon-musk-loses-11-billion-as-tesla-stock-plummets-in-wake-of-new-trump-tariffs">due to the influence of activist shareholders</a>.



What Happened: Musk, who currently owns a 12.8% stake in Tesla, is apprehensive about being dethroned by shareholders who may not align with his vision for the company&#8217;s future. 



He suggests that a 25% ownership stake would offer him adequate influence, while still leaving room for his possible removal.



Musk&#8217;s fears are rooted in past instances where shareholders voted in favor of a compensation package tied to the company&#8217;s growth targets, only to be overruled by&nbsp;Delaware Chancery Court Judge Kathaleen&nbsp;McCormick. 



Earlier in January in a post on X, he shared that about 25 percent ownership stake&nbsp;would be enough "to be influential, but not so much that I can't be overturned.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am uncomfortable growing Tesla to be a leader in AI &amp; robotics without having ~25% voting control. Enough to be influential, but not so much that I can't be overturned. Unless that is the case, I would prefer to build products outside of Tesla. You don't seem to understand…&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1746999488252703098?ref_src=twsrc%5Etfw">January 15, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk has the opportunity to acquire an additional 304 million shares, which would boost his voting control by roughly 4% post-tax.



Also Read: <a href="https://www.benzinga.com/personal-finance/management/25/07/46510590/elon-musk-returns-to-intense-work-schedule-back-to-working-7-days-a-week-and-sleeping-in-the-office">Elon Musk Returns To Intense Work Schedule: &#8216;Back To Working 7 Days a Week and Sleeping in the Office&#8217;</a>



In a recent statement on Friday on X, Musk affirmed that he has no personal loans against Tesla stock and reiterated his anxieties about being ousted by &#8220;activist shareholders&#8221;. He expressed optimism that these concerns would be addressed at the forthcoming shareholders&#8217; meeting.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just fyi I don't have personal loans at this time against Tesla stock. Also, the taxes on the options are ~45%, so net gain in voting control is more like 4%. It is worrying in that I don't want to build millions of robots and then potentially be ousted by activists and…&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1951025300156092778?ref_src=twsrc%5Etfw">July 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



There are rumors that Musk may resign if his ownership stake is curtailed, akin to the limitations imposed on his pay package. 



Nonetheless, a majority of shareholders who endorsed Musk&#8217;s pay package continue to support his leadership of Tesla&#8217;s operations.



Why It Matters: Musk&#8217;s concerns highlight the potential power dynamics at play within Tesla&#8217;s shareholder base. His potential loss of control could significantly impact the company&#8217;s strategic direction, given his instrumental role in shaping 



Tesla&#8217;s innovative trajectory. The upcoming shareholders&#8217; meeting will be a critical event, potentially determining the future of Musk&#8217;s leadership at Tesla.



Read Next



<a href="https://www.benzinga.com/tech/25/05/45602416/elon-musk-commits-to-intense-focus-on-x-xai-and-tesla-back-to-spending-24-7-at-work-sleeping-in-conference-server-factory-rooms" target="_blank" rel="noreferrer noopener">Elon Musk Commits To Intense Focus on X/xAI and Tesla: ‘Back To Spending 24/7 at Work, Sleeping in Conference/Server/Factory Rooms'</a>



Image: Shutterstock

TSLA

Elon Musk Warns of Losing Tesla Control, Denies Personal Loans Tied To Shares

Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.



Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.



Read Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71" target="_blank" rel="noreferrer noopener">EXCLUSIVE: June&#8217;s 20 Most-Searched Tickers On Benzinga Pro — Where Do CoreWeave, Nvidia, Apple Stock Rank?</a>



Here&#8217;s a look at the Benzinga Stock Whisper Index for the week ending August 1:



Cadence Design Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>): The automation company saw increased interest from readers during the week, which comes after the company <a href="https://www.benzinga.com/markets/earnings/25/07/46674619/cadence-design-systems-beats-q2-earnings-estimates-raises-fy25-outlook-citing-broad-based-strength-ai-tailwinds">reported second-quarter financial results.</a> Cadence beat analyst estimates for revenue and earnings per share. The company said total revenue was up 20% year-over-year with strength across all business segments. Cadence also reported strong bookings and a backlog of $6.4 billion. The company raised its guidance for the full fiscal year. Multiple analysts<a href="https://www.benzinga.com/quote/CDNS/analyst-ratings"> raised their price targets </a>after the report. Shares were up around 7% for the week and are up around 20% year-to-date, with the stock near all-time highs.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731"><img loading="lazy" decoding="async" width="999" height="499" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174205/Screenshot-518.png" alt="" class="wp-image-1011552" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174205/Screenshot-518.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174205/Screenshot-518-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174205/Screenshot-518-768x384.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Caseys General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>): The convenience store company saw strong interest from readers during the week with reports that Third Point added to its stake in the company during the second quarter. The company reported fourth-quarter financial results in June beating earnings per share for an eighth straight quarter and revenue for a third straight quarter. Analysts have been <a href="https://www.benzinga.com/quote/CASY/analyst-ratings">raising their price targets </a>on the company.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731"><img loading="lazy" decoding="async" width="999" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174219/Screenshot-519.png" alt="" class="wp-image-1011553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174219/Screenshot-519.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174219/Screenshot-519-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174219/Screenshot-519-768x386.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Howmet Aerospace Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>): The aerospace company saw strong interest from readers during the week which shares up over 60% year-to-date and at all-time highs. The company<a href="https://www.benzinga.com/markets/earnings/25/07/46763653/howmet-aerospace-posts-record-profit-raises-2025-outlook"> recently beat </a>second-quarter financial estimates from analysts for earnings per share and revenue. The company also raised full-year earnings per share and revenue guidance. During the company's conference call. Howmet CEO said the company is raising its underlying 737 Max assumptions from 28 per month to 33 per month. The company management highlighted robust demand for aerospace and the defense markets.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731"><img loading="lazy" decoding="async" width="999" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174233/Screenshot-520.png" alt="" class="wp-image-1011554" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174233/Screenshot-520.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174233/Screenshot-520-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174233/Screenshot-520-768x386.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>): The semiconductor company has been seeing strong interest from readers for weeks and makes its way onto the Stock Whisper Index ahead of second-quarter financial results. The company recently <a href="https://www.benzinga.com/markets/tech/25/07/46687494/on-semiconductor-jumps-after-nvidia-deal-is-this-the-next-big-ai-power-play">announced a collaboration</a> with Nvidia Corporation, which sent shares higher. ON Semiconductor will report second-quarte financial results on Aug. 4. Analysts expect the company to report declines in earnings per share and revenue. The company has beaten analyst estimates for earnings per share in nine of the last 10 quarters and for revenue in nine of the last 10 quarters. Analysts have been cautious on the stock with their ratings but recently<a href="https://www.benzinga.com/quote/ON/analyst-ratings"> raising their price targets.</a>



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731"><img loading="lazy" decoding="async" width="997" height="517" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174246/Screenshot-521.png" alt="" class="wp-image-1011555" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174246/Screenshot-521.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174246/Screenshot-521-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174246/Screenshot-521-768x398.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>



Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>): The air cooling systems company saw strong interest from readers after reporting second-quarter results that <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46768464/vertiv-holdings-analysts-boost-their-forecasts-after-better-than-expected-q2-earnings">beat analyst estimates. </a>The company also raised its full-year guidance for both earnings per share and revenue after the quarterly results. Analysts raised their price targets on the stock with shares near all-time highs. Vertiv stock has beaten analyst estimates for earnings per share in 10 straight quarters and beaten revenue estimates in six of the last 10 quarters. With strong success of beating estimates, recently raising guidance and seeing analyst price target hikes, there is a lot of positive momentum for Vertiv.



<figure class="wp-block-image size-full"><a href=" https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0731"><img loading="lazy" decoding="async" width="999" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174257/Screenshot-522.png" alt="" class="wp-image-1011556" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174257/Screenshot-522.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174257/Screenshot-522-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/01174257/Screenshot-522-768x383.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>



Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0725" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>



Read the latest Stock Whisper Index reports here:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46264224/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-72" target="_blank" rel="noreferrer noopener">July 4</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46381556/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-73" target="_blank" rel="noreferrer noopener">July 11</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46508365/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-74" target="_blank" rel="noreferrer noopener">July 18</a></li>



<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46648171/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-75">July 25</a></li>
</ul>



Read Next:



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46236448/exclusive-2025s-first-half-most-searched-tickers-on-benzinga-pro-where-do-nvidia-tesla-apple-stock-rank" target="_blank" rel="noreferrer noopener">EXCLUSIVE: 2025&#8217;s First Half Most-Searched Tickers On Benzinga Pro — Where Do Nvidia, Tesla, Apple Stock Rank?</a></li>
</ul>

Long Ideas

Exclusives

Trading Ideas

CASY

CDNS

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



The Federal Reserve held rates at 4.25-4.50%, resisting pressure from President Donald Trump — even as two Fed governors dissented in favor of immediate cuts. However, the July jobs report disappointed, with just 73,000 jobs added and downward revisions totaling 258,000 for May and June. Inflation continued climbing, with core PCE reaching 2.8% year‑over‑year.



Markets fell sharply: the Dow, S&amp;P 500, and Nasdaq each dropped between 1-2%, with the Dow losing 542 points. Yields declined and safe-haven assets like gold gained traction as investor sentiment weakened.



The sell-off has raised bets on a September rate cut, with futures pricing now reflecting over 75-85% likelihood. Political interference — including Trump's removal of the BLS chief and calls to replace Federal Reserve Chair Jerome Powell — is adding to uncertainty over Fed independence.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.







The Bulls



<a href="https://www.benzinga.com/markets/earnings/25/07/46676131/celestica-stock-surges-on-q2-earnings-beat-company-raises-2025-outlook-on-strengthening-demand">"Celestica stock surges on Q2 earnings beat; company raises 2025 outlook on strengthening demand"</a>, by Erica Kollmann, reports that Celestica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) stock jumped after posting stronger-than-expected Q2 earnings and revenue, and the company boosted its full-year 2025 outlook — citing robust customer demand across its electronics manufacturing services business.



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46756056/carvana-stock-climbs-to-new-highs-after-q2-earnings-whats-driving-the-action">"Carvana stock climbs to new highs after Q2 earnings — what's driving the action?"</a>, by Adam Eckert, reports that Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) surged after beating Q2 estimates with $4.84 billion in revenue (up 42% year-over-year) and EPS of $1.28, while retail units sold rose 41% to 143,280, and analysts like Needham raised their price targets to as high as $500 on optimism around continued tariff tailwinds and scalable growth.



<a href="https://www.benzinga.com/markets/earnings/25/07/46741319/applied-digital-stock-soars-after-q4-results-how-coreweave-bitcoin-are-helping">"Applied Digital stock soars after Q4 results: How CoreWeave, Bitcoin are helping"</a>, by Chris Katje, reports that Applied Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) jumped nearly 50% after beating Q4 estimates and unveiling a major expansion of its AI data center contract with CoreWeave Inc., including a lease option that ups capacity to 400 MW and boosts projected revenue to ~$11 billion over 15 years — a move bolstered by its Bitcoin-linked infrastructure strategy.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46730519/exxon-chevron-could-be-wall-streets-best-kept-secrets-this-quarter">Exxon, Chevron Could Be Wall Street's Best-Kept Secrets This Quarter</a>



<a href="https://www.benzinga.com/markets/earnings/25/07/46706807/mara-holdings-stock-moves-higher-on-better-than-expected-q2-earnings">MARA Holdings Stock Moves Higher On Better-Than-Expected Q2 Earnings</a>



<a href="https://www.benzinga.com/markets/earnings/25/07/46778413/rocket-companies-stock-blasts-off-on-q2-results-here-are-the-highlights">Rocket Companies Stock Blasts Off On Q2 Results: Here Are The Highlights</a>







The Bears



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46688728/novo-nordisk-weight-loss-stock-eli-lilly-wegovy-ozempic">"Novo Nordisk implodes after Wegovy warning — is the weight‑loss bubble bursting?"</a>, by Piero Cingari, reports that Novo Nordisk A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NASDAQ">NVO</a>) stock fell 26% on its worst trading day ever after the company slashed its 2025 growth and profit guidance — citing weaker‑than‑expected uptake for its weight‑loss drug Wegovy, continued competition from compounded semaglutide alternatives, and a leadership transition that has intensified investor concern.



<a href="https://www.benzinga.com/markets/tech/25/08/46797499/nvidia-broadcom-marvell-lead-chip-stock-slide-after-trump-hits-china-taiwan-with-new-tariffs">"Nvidia, Broadcom, Marvell lead chip stock slide after Trump hits China, Taiwan with new tariffs"</a>, by Anusuya Lahiri, reports that NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and other AI chipmakers fell sharply after President Donald Trump implemented steep new tariffs on China and Taiwan—raising sector-wide concerns despite ongoing AI infrastructure demand.



<a href="https://www.benzinga.com/markets/earnings/25/07/46763664/ferrari-stock-slides-on-q2-earnings-the-details">"Ferrari stock slides on Q2 earnings: The details"</a>, by Adam Eckert,reports that Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) delivered Q2 revenue of $2.03 billion — above estimates — and earnings of $2.70 per share, yet shares fell sharply despite solid results and confirmed full‑year guidance. Although core earnings rose 6% thanks to strong pricing and reduced tariff pressures, investors focused on slowing shipments and pricing power, triggering Ferrari's steep decline — the stock's largest single‑day drop since its 2016 listing.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46734755/chinese-health-care-stock-pheton-holdings-collapses-after-short-seller-warns-of-manipulation-by-overseas-scammers">Chinese Health Care Stock Pheton Holdings Collapses After Short Seller Warns Of Manipulation By ‘Overseas Scammers'</a>



<a href="https://www.benzinga.com/markets/earnings/25/07/46687402/paypals-profit-surge-dwarfed-by-q2-transaction-slump-stock-falls">PayPal's Profit Surge Dwarfed By Q2 Transaction Slump, Stock Falls</a>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46768121/robinhood-sheds-its-meme-stock-skin-emerges-as-full-fledged-fintech-player">Robinhood Sheds Its Meme Stock Skin, Emerges As Full-Fledged Fintech Player</a>







Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



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Benzinga Bulls And Bears: Celestica, Carvana, Novo Nordisk — And Fed Holds Rates Despite Trump Pressure

The Federal Reserve didn't cave to pressure from President Donald Trump and held interest rates steady in its July meeting — one that, for the first time in over 30 years, saw two dissenting votes from board members pushing <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46733603/fed-holds-trump-powell-waller-bowman-interest-rates">for an immediate cut.</a>



But that decision may now backfire, as Friday's labor market data showed early <a href="https://www.benzinga.com/markets/economic-data/25/08/46792479/july-nonfarm-payrolls-trump-powell-labor-market">signs of weakness.</a>



July&#8217;s payroll growth was deeply disappointing, with just 73,000 jobs added — far short of the expected 110,000. Even more troubling were the massive downward revisions to May and June figures, slashing previously reported job gains by a combined 258,000.



On the inflation front, things aren't going the Fed's way either. The Personal Consumption Expenditures (PCE) price index jumped to 2.6% year-over-year in June from 2.3% in May, beating the 2.5% forecast. Excluding food and energy, the Fed's preferred inflation gauge held steady at 2.8%, above both expectations of 2.7% and <a href="https://www.benzinga.com/markets/economic-data/25/07/46755543/inflation-pce-june-tariffs-trump-powell-interest-rates">the Fed's 2% target.</a>



Despite a solid <a href="https://www.benzinga.com/markets/economic-data/25/07/46726864/powell-fed-interest-rates-q2-gdp-growth-trump">3% second-quarter economic expansion</a> — boosted by a collapse in imports — the spotlight is shifting back to the growing negative risks from tariffs.



After nearly four months of relentless gains, Wall Street took a step back, with major indexes finishing the week lower despite solid quarterly results from tech heavyweights Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) — signaling that macroeconomic worries have reclaimed the driver's seat.



On the trade front, in addition to deals inked with the U.K., Japan and South Korea, Trump signed a sweeping new pact with the European Union. The deal introduces 15% tariffs while securing hundreds of billions in energy and defense investments and purchases from Brussels.



But most other trade actions reveal a harsher stance than anticipated, with 25% tariffs imposed on India, 39% on Switzerland, 20% on Taiwan, 30% on South Africa, 35% on Canadian goods and a steep 50% <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46781583/trump-slaps-35-tariff-on-canadian-goods-hits-68-other-nations-with-new-trade-war-amid-fentanyl-security-china-tensions">on imports from Brazil.</a>



Trump also issued a new 10-day ultimatum to Russia: agree to a ceasefire with Ukraine or face new sanctions.



Meanwhile, oil prices ended the week in the green, with crude closing above $66 per barrel as traders await the next decision from OPEC+.



Read Now:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/08/46798768/july-jobs-report-interest-rates-odds-trump-powell">Economists Flip To Trump&#8217;s Side After Jobs Data–And Jerome Powell Is Now In Trouble</a></li>
</ul>



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Fed Stays Put On Rates, But Jobs Report Signals It May Regret It: This Week In Markets

Warren Buffett&#8216;s&nbsp;Berkshire Hathaway Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has reported&nbsp;a $3.8 billion impairment on&nbsp;its stake in&nbsp;Kraft Heinz Co.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), marking a significant setback for the billionaire investor.



What Happened: Berkshire Hathaway has reduced&nbsp;the carrying value of its&nbsp;Kraft Heinz investment to $8.4&nbsp;billion, a significant drop from over&nbsp;$17 billion at the end&nbsp;of 2017. 



This marks&nbsp;a rare disappointment for Buffett,&nbsp;who played a key role in the merger of&nbsp;Kraft and Heinz about a&nbsp;decade ago, reports Bloomberg. 



The&nbsp;stock of the packaged foods&nbsp;giant has plummeted 62% since the merger, while the S&amp;P 500 has surged 202%. 



Berkshire&#8217;s&nbsp;Kraft Heinz stake is now&nbsp;marked at its fair value&nbsp;as of the end of&nbsp;June. The writedown was &#8220;overdue,&#8221; Kyle Sanders, an analyst at&nbsp;Edward Jones, <a href="https://www.bloomberg.com/news/articles/2025-08-02/buffett-s-berkshire-takes-3-8-billion-hit-on-kraft-heinz-stake?srnd=homepage-americas">told </a>the outlet. 



Also Read: <a href="https://www.benzinga.com/markets/earnings/25/08/46815600/berkshire-hathaway-warns-of-adverse-consequences-on-most-if-not-all-operating-businesses-as-q2-results-reflect-mounting-global-pressures">Berkshire Hathaway Warns of &#8216;Adverse Consequences on Most, If Not All, Operating Businesses&#8217; as Q2 Results Reflect Mounting Global Pressures</a>



Kraft Heinz is currently considering&nbsp;a spinoff of part of&nbsp;its business as it grapples&nbsp;with challenges such as inflation and a shift in consumer preference towards healthier alternatives. 



Last month, the company reported&nbsp;a decline in sales that&nbsp;wasn&#8217;t&nbsp;as bad as analysts had&nbsp;predicted, thanks in part to higher prices.



Why It Matters: The recent developments indicate a shift in Berkshire&#8217;s relationship with&nbsp;Kraft Heinz. In May, Kraft&nbsp;Heinz announced that Berkshire gave&nbsp;up seats on the packaged&nbsp;foods company's board.&nbsp;



The writedown, disclosed Saturday in&nbsp;a regulatory filing, was driven&nbsp;in part by the sustained&nbsp;decline in fair value. 



This could potentially signal a strategic move by Berkshire to distance itself from the underperforming packaged foods company.



Read Next



<a href="https://www.benzinga.com/markets/stock-split/25/07/46266095/warren-buffett-skips-big-banks-like-jpmorgan-and-wells-fargo-bets-459-million-on-this-one-asset">Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset</a>



Image: Shutterstock

Berkshire Hathaway Faces $3.8 Billion Loss Tied to Kraft Heinz Stake

Kevin O&#8217;Leary has publicly expressed his disapproval of President Donald Trump&#8216;s decision to fire Erika McTarfer, the Commissioner of the Bureau of Labor Statistics.



What Happened: O&#8217;Leary, who is the chairman of O&#8217;Leary Ventures, voiced his criticism on CNN on Friday. He disagreed with Trump&#8217;s decision to dismiss McTarfer, stating, &#8220;You don't shoot the messenger.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;So tell me why the American economy right now is at its highest value in history? This is not an ad for Trump. I&#39;m an investor. Something&#39;s working here. It&#39;s a policy decision. I&#39;m a policy guy.&quot; Kevin O&#39;Leary pushes back aggressively on CNN&#39;s downplaying of Trump&#39;s economy. <a href="https://t.co/c8duz2SKCx">pic.twitter.com/c8duz2SKCx</a>&mdash; Thomas Hern (@ThomasMHern) <a href="https://twitter.com/ThomasMHern/status/1951331560264761827?ref_src=twsrc%5Etfw">August 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Previously, Trump had baselessly accused McTarfer of &#8220;faking&#8221; the job numbers. 



This accusation came after a July report that indicated&nbsp;the weakest job growth in&nbsp;a month since December 2020, and included significant downward revisions for May and June.



In a <a href="https://truthsocial.com/@realDonaldTrump/posts/114954846612623858">post </a>on Truth Social, Trump slammed McEntarfer stating she altered job reports to favor former Vice President Kamala Harris during the November election and said he'd given his team orders to dismiss the&nbsp;Biden&nbsp;appointee "IMMEDIATELY."



Despite having previously argued that Trump&#8217;s&nbsp;policies had been beneficial to&nbsp;him as an investor, O&#8217;Leary stated that the decision to fire McTarfer &#8220;makes no sense whatsoever.&#8221;



Also Read: <a href="https://www.benzinga.com/news/macro-notification/25/06/46042491/kevin-oleary-highlights-growing-concern-over-401k-contributions-amid-rising-household-debt">Kevin O&#8217;Leary Highlights Growing Concern Over 401(k) Contributions Amid Rising Household Debt</a>



"We had a bad print on jobs. I did not agree on whacking the commissioner. I don't like that. "Whacking statisticians makes no sense whatsoever. You don't shoot the messenger," O'Leary said during the interview. 



"I think the market is a little concerned about major trading partners not getting deals yet. It's not a good idea to have 35 percent tariffs on Canada. We know that that's coming into place at midnight right now unless something magic happens," O'Leary further added. 



Why It Matters: The dismissal of McTarfer by President Trump has sparked controversy and criticism. The Bureau of Labor Statistics plays a crucial role in providing accurate and essential data related to employment and labor market activity. 



The dismissal of its Commissioner, especially under baseless accusations, raises concerns about the integrity and reliability of future data. 



O&#8217;Leary&#8217;s criticism underscores the importance of maintaining credibility and transparency in such crucial institutions. The impact of this decision on investor confidence and market stability remains to be seen.



Read Next



<a href="https://www.benzinga.com/news/topics/25/07/46699454/kevin-oleary-says-the-tariff-drama-is-settling-and-the-markets-calming-because-trump-found-the-loophole">Kevin O&#8217;Leary Says The &#8216;Tariff Drama&#8217; Is Settling And The Market&#8217;s Calming Because Trump &#8216;Found The Loophole&#8217;</a>



Image: Shutterstock

Politics

Kevin O'Leary Slams Trump for 'Whacking' BLS Chief After Disappointing Jobs Report: 'You Don't Shoot the Messenger'

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is facing the heat from global trade tensions and tariff headwinds, as weak insurance and investment hits dragged down its second-quarter performance reported on Saturday morning.



The Omaha-based company&#8217;s operating earnings dipped 3.8% to $11.16 billion in the latest quarter. Sluggish insurance underwriting and a bruising $3.8 billion blow from its stake at The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) weighed on profits.



According to the Berkshire&nbsp;<a target="_blank" href="https://www.berkshirehathaway.com/news/aug0225.pdf" rel="noreferrer noopener">report</a>, the decline was largely&nbsp;driven by a 12% plunge&nbsp;in insurance-underwriting profit, which&nbsp;came in at $1.99 billion&nbsp;for the second quarter, down&nbsp;from $2.26 billion a year&nbsp;prior.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/07/46713700/warren-buffetts-berkshire-now-earns-138-every-second-how-decades-old-bets-on-apple-coca-cola-chevron-are-paying-off-big-in-2025" rel="noreferrer noopener">Warren Buffett&#8217;s Berkshire Now Earns $138 Every Second—How Decades-Old Bets On Apple, Coca-Cola, Chevron Are Paying Off Big In 2025</a>



The quarterly report marks the first earnings announcement since 94-year-old Warren Buffett announced he will step <a target="_blank" href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor" rel="noreferrer noopener">down as CEO at the end of 2025</a>.



Greg Abel, currently vice-chairman overseeing non-insurance operations, is slated to succeed him as CEO. Buffett will continue to serve as chairman of Berkshire&#8217;s board.



&#8220;The pace of changes in these events, including tensions from developing international trade policies and tariffs, accelerated through the first six months of 2025. Considerable uncertainty remains as to the ultimate outcome of these events,&#8221; Berkshire said in its <a href="https://www.berkshirehathaway.com/qtrly/2ndqtr25.pdf" target="_blank" rel="noreferrer noopener">earnings</a> report.



As of June 30, 2025, Berkshire Hathaway&#8217;s equity portfolio remained heavily concentrated, with five companies:



<ul class="wp-block-list">
<li>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>



<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</li>



<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>)</li>



<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</li>
</ul>



These five companies accounted for 67% of total equity holdings at the end of the second quarter, lower than&nbsp;&nbsp;71% as of December 2024.



Berkshire said it and its subsidiaries hold investments that are accounted for pursuant to the equity method.



As of the end of the second quarter, the firm owned 27.4% of the outstanding The Kraft Heinz Company common stock and 28.1% of the outstanding Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) common stock.



On May 20, 2025, Kraft Heinz announced it was exploring potential strategic transactions to boost shareholder value but gave no guarantee of any outcome.



Considering this uncertainty and broader economic conditions, Berkshire determined that the decline in Kraft Heinz&#8217;s stock value was &#8220;other-than-temporary&#8221;.



Warren Buffett&#8217;s cash reserves stood at $344.1 billion at the end of June 2025, just below the record $347 billion reported at the end of March, per a CNBC <a target="_blank" href="https://www.cnbc.com/2025/08/02/berkshire-hathaway-brk-earnings-q2-2025.html" rel="noreferrer noopener">report</a>.



&#8220;We are currently unable to reliably predict the ultimate impact on our businesses, whether through changes in the availability of products, supply chain costs and efficiency, and customer demand for our products and services,&#8221; the company said.



Berkshire Hathaway continued its trend as a net seller of stocks for the 11th consecutive quarter, offloading $4.5 billion worth of equities during the first half of the year.



&#8220;It is reasonably possible there could be adverse consequences on most, if not all, of our operating businesses, as well as on our investments in equity securities, which could significantly affect our future results.&#8221; Berkshire added.



As Buffett prepares to pass the torch, Berkshire faces a turbulent road ahead—navigating market headwinds, investment volatility, and global economic uncertainty that could reshape its future playbook.



Read Next:



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<li><a href="https://www.benzinga.com/markets/market-summary/25/08/46815332/benzinga-bulls-and-bears-celestica-carvana-novo-nordisk-and-fed-holds-rates-despite-trump-pressure" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Celestica, Carvana, Novo Nordisk — And Fed Holds Rates Despite Trump Pressure</a></li>
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Image: Shutterstock/Rokas Tenys

Berkshire Hathaway Warns of 'Adverse Consequences on Most, If Not All, Operating Businesses' as Q2 Results Reflect Mounting Global Pressures

Just two days after Fed Chair Jerome Powell refused to pre-commit to a September rate cut, the U.S. labor market <a href="https://www.benzinga.com/markets/economic-data/25/08/46792479/july-nonfarm-payrolls-trump-powell-labor-market">did it for him. </a>



<ul class="wp-block-list">
<li>SPY ETF breaks past support. <a href="https://www.benzinga.com/quote/SPY">See real-time price here.</a> </li>
</ul>



A weak July jobs report and the biggest downward 2-month revisions since 2020 have economists—and markets—racing to President Donald Trump's side on calling for lower interest rates. 



<h3 class="wp-block-heading">Labor Data Breaks Down And Manufacturing Is Not Helping Either</h3>



The U.S. economy added just 73,000 jobs in July, far below the 110,000 expected. 



But the real shock came from the Bureau of Labor Statistics revising May and June non-farm payrolls down by a combined 258,000—erasing what were thought to be solid job gains. This is the largest two-month revision since the COVID-19 shock in 2020.



Private-sector job growth was narrowly concentrated, driven largely by healthcare, while government payrolls fell by 10,000. The unemployment rate edged up to 4.2%, reversing June's drop.



Wages, however, remained hot. Average hourly earnings rose 0.3% month-over-month and 3.9% year-over-year, both beating forecasts. 



Still, signs of underlying weakness in the labor force—especially due to declining immigration—are mounting.



Meanwhile, U.S. manufacturing continues to struggle, signaling ongoing headwinds from tariff-driven uncertainty. 



The ISM Manufacturing PMI decreased to 48 in July 2025, down from 49 in June and below the expected level of 49.5. It marked the fifth straight month of contraction and the lowest reading since October 2024.



<h3 class="wp-block-heading">Wall Street Moves To The Dovish Side</h3>



Markets are now fully pricing in two rate cuts by December, with the chance of a September 25-basis-point cut surging to 76% Friday, more than double Thursday's odds.



Oxford Economics' Nancy Vanden Houten said the weak July report and historic revisions "raise the odds of a Fed rate cut in September." She warned that slower labor force growth, especially among foreign-born workers, may mask deeper structural issues.



"The foreign-born labor force has shrunk by 1.2 million in just six months," she said, linking the decline to the Trump administration's immigration policies.



"Powell's take on September not being a live meeting might be under revision as we speak," said BOK Financial's analyst Steve Wyett, citing the sharp downward revisions.



David Russell, analyst at TradeStation, indicated that "huge negative revisions undermine beliefs about the strength of the labor market," but warned that "there are still signs of stagflation, with hourly earnings up more than expected."



Jamie Cox, managing partner for Harris Financial Group, weighed in. "Powell is going to regret holding rates steady this week. September is a lock for a rate cut—and it might even be 50 basis points." 



Bill Adams, chief economist at Comerica Bank, struck a more cautious tone. He said the weak July jobs report adds pressure on the Fed to cut rates later this year, but warned the decision "isn't a slam dunk." Adams said the Fed will closely watch the August jobs report and inflation data before making its next move. 



Yields on two-year Treasury bonds, which are highly sensitive to interest-rate expectations, tumbled 22 basis points to 3.75%, eyeing the largest intraday drop since August 2024.



The U.S. dollar index – as closely tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – fell 1.2% by 10:30 a.m. in New York, trimming weekly gains. 



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/large-cap/25/07/46766944/stock-market-outlook-sp500-august-seasonality-magnificent-seven">Stock Market Outlook: July&#8217;s Highs Mask A Dangerous August Twist</a></li>
</ul>



Photo: Shutterstock

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Economists Flip To Trump's Side After Jobs Data–And Jerome Powell Is Now In Trouble

<a href="https://www.benzinga.com/topic/artificial-intelligence" target="_blank" rel="noreferrer noopener">Artificial intelligence chip stocks</a> including NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Arm Holdings PLC-ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Lam Research Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) are trading lower on Friday as the Trump administration announced tariffs on trading partners including China and Taiwan amid an exciting earnings season with the Big Tech giants fueling the AI frenzy.



Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) are leading a $250 billion AI infrastructure surge through 2025–&#8217;26, underscoring their commitment to fueling the <a href="https://www.benzinga.com/markets/tech/25/07/46760252/meta-microsoft-and-google-are-unleashing-a-250-billion-ai-tsunami" target="_blank" rel="noreferrer noopener">next industrial revolution</a>. These tech giants are ramping up capital expenditures on data centers, servers and networking to support AI development at scale — turning ambition into infrastructure.



Wedbush analyst Dan Ives calls it a &#8220;watershed moment&#8221; for technology, with years of explosive growth still ahead. JPMorgan analyst Samik Chatterjee highlights that Meta is guiding for nearly $100 billion in capex by 2026, Alphabet raised its 2025 capex outlook to $85 billion, and Microsoft&#8217;s September quarter capex surpassed $30 billion — on pace for over $100 billion annually.



Also Read: <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46771184/metas-q2-results-turn-skeptics-into-believers-as-capex-narrative-shifts" target="_blank" rel="noreferrer noopener">Meta&#8217;s Q2 Results Turn Skeptics Into Believers As Capex Narrative Shifts</a>



Tariffs: On Thursday, President Donald Trump <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46781583/trump-slaps-35-tariff-on-canadian-goods-hits-68-other-nations-with-new-trade-war-amid-fentanyl-security-china-tensions" target="_blank" rel="noreferrer noopener">imposed a sweeping</a> new round of tariffs on 69 countries, sharply raising import duties to escalate pressure over national security, fentanyl and China. Just before a significant trade deadline, Trump signed an executive order raising tariffs between 10% and 41% on dozens of U.S. trading partners.



He increased tariffs on Canadian goods from 25% to 35%, citing Ottawa&#8217;s failure to cooperate on curbing fentanyl flows. Trump also slapped Brazil with a 50% tariff, while India, Taiwan and Switzerland now face duties between 20% and 39%. A baseline 10% tariff now applies to all countries not listed in the annex.



He justified the action by citing national security and the 1977 International Emergency Economic Powers Act, declaring a national emergency tied to the U.S. trade deficit. Trump warned that several countries had failed to align with U.S. economic and security interests.



Mexico avoided a 30% tariff after President Claudia Sheinbaum secured a 90-day reprieve through a direct call with Trump. South Korea agreed to a 15% tariff and pledged $350 billion in U.S. investments. Meanwhile, China has until Aug. 12 to finalize a long-term tariff deal after preliminary agreements were reached earlier this year.



Semiconductor and Big Tech ETFs, including VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), were down close to 2% on Friday.



Why It Matters: Recent developments have reshaped <a href="https://www.benzinga.com/markets/tech/25/07/46700433/broadcom-stock-is-trending-whats-going-on" target="_blank" rel="noreferrer noopener">the semiconductor industry&#8217;s</a> interconnected ecosystem, directly impacting sector valuations.



The U.S. temporarily paused tech export restrictions to China to avoid derailing trade negotiations and to support Trump&#8217;s effort to meet with Chinese President Xi Jinping, according to the Financial Times.



At the same time, Nvidia resumed H20 AI chip sales to China, reversing an April ban imposed over national security concerns. This shift is expected to benefit semiconductor companies as U.S.-China talks resume in Stockholm.



Further fueling momentum, the White House launched &#8220;Winning the AI Race: America&#8217;s AI Action Plan&#8221; last week, detailing more than 90 federal actions to strengthen innovation, infrastructure and AI leadership in the U.S.



Semiconductor stocks rebounded Wednesday after earlier losses tied to delays in the $500 billion Stargate project. The administration plans to accelerate data center and chip plant permits, expand workforce training, simplify regulations and ensure AI contracts promote fairness and transparency in large language models.



Nvidia crossed the $4 trillion valuation mark this week, and Microsoft neared the <a href="https://www.benzinga.com/markets/tech/25/07/46188671/nvidia-microsoft-on-track-to-achieve-4-trillion-market-cap-says-analyst-dan-ives-tech-bull-market-is-still-early" target="_blank" rel="noreferrer noopener">$4 trillion mark</a>, according to Wedbush&#8217;s Ives, fueled by surging AI demand and massive infrastructure investments. He noted both companies as foundational to the AI revolution and believes their momentum could push valuations toward $5 trillion within 18 months as the tech bull market enters what he calls an early-stage AI-driven expansion.



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