The Vanguard S&P 500 ETF closed at 580.14 Monday, up 1.5% — almost an exact mirror of Friday’s 1.6% decline.
Satellite communications stock ViaSat (Nasdaq: VSAT) is soaring more than 23% after William Blair analyst Louie DiPalma upgraded it to outperform and predicted the shares will double in a year. ViaSat is contemplating the IPO or spinoff of its profitable defense division, and might become free cash flow positive this year, says the analyst.
Most other Wall Street analysts don’t see positive FCF before 2027 at the earliest.
In less happy news, European biotech and one of the heroes of the Covid-19 pandemic BioNTech SE (Nasdaq: BNTX) reported an earnings miss this morning. The company lost 1.60 euros in Q2, 19 euro cents worse than predicted, despite revenue far better than expected at 260.8 euros.
BioNTech SE warned that through the end of this year it expects to book no more than 2.2 billion euros in revenue, versus a Street forecast of nearly 2.3 billion euros, but investors are focusing more on the nearer-term good news, and BioNTech stock is up 4.1%.
The Voo is now up 1.2%.
In further earnings news, online furniture retailer Wayfair (NYSE: W) reported earnings of $0.87 in Q2, nearly three times its forecast profit. Revenue beat expectations as well at $3.27 billion.
Wayfair stock is up more than 9% this morning, and the Voo continues to climb — up 0.9%.
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Last week ended on a down note — and a 2.4% weekly loss for the Vanguard S&P 500 ETF (NYSEMKT: VOO) — as a weak July jobs report, plus downward adjustments to the May and June reports, combined with yet another round of tariffs from President Trump to slow the economy, and discourage investors. This week, however, investors may start looking for a silver lining.
The Voo ETF is up 0.6% premarket as stock market investors digest last week’s news and wonder if it’s as bad as it looked.
Might a slowing economy, for example, give the Federal Reserve more room to lower interest rates, and might that not actually be good for the stock market? And if the Federal Reserve lowers rates, might this in turn lower the temperature on arguments between the President and the Fed Chairman, bringing more political stability to Washington, D.C.?
Investors can hope. In the meantime, we have a few more earnings news to report.
S&P 500 component company onsemi (Nasdaq: ON | ON Price Prediction), the artist formerly known as “ON Semiconductor,” reported the tiniest of earnings “beats” this morning. Profits per share were $0.53, as analysts had forecast, but revenue edged out forecasts at $1.5 billion.
Guidance for Q3 was also slightly better than expected, with earnings now predicted to range from $0.54 to $0.64 for the quarter.
Fellow S&P 500 component Tyson Foods (NYSE: TSN) beat earnings by a dime, reporting $0.91 per share in profit. Sales were $13.9 billion, also ahead of expectations.
Medical equipment maker and (you guessed it) S&P 500 component company Waters Corporation (NYSE: WAT) beat by a penny, reporting a $2.95 per share profit. Revenue was $771 million, also ahead of estimates. And Waters guided investors to expect earnings between $12.95 and $13.05 per share through the end of this year, also ahead of analyst forecasts.
The stock is down 0.1% in premarket trading, however.
Contact [email protected] for any questions or corrections.
Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.
He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.
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