Key Takeaways
- The S&P 500 gained 0.1% on Thursday, July 24, 2025, notching an all-time closing high for the fourth straight day following earnings reports from Alphabet, Tesla, and other firms.
- West Pharmaceutical Services shares surged after the medical device maker beat quarterly estimates and lifted its full-year outlook.
- LKQ Corp. slashed its forecasts for 2025, pointing to ongoing pressure in the auto repair market. Shares of the aftermarket and recycled parts provider tumbled.
Major U.S. equities indexes were mixed on Thursday as investors scrutinized the latest earnings data, including a strong quarterly report from Google parent Alphabet (GOOGL).
The S&P 500 gained around 0.1%, reaching a record closing high for the fourth straight session. The Nasdaq Composite added 0.3% to secure a record close for the second consecutive day, while the Dow declined 0.7%.
West Pharmaceutical Services (WST) shares skyrocketed 22.8%, the most of any stock in the S&P 500, after the healthcare products provider beat sales and profit estimates for the second quarter and raised its full-year guidance. The company, which specializes in packaging solutions and delivery systems for injectable drugs, highlighted a strong contribution from its high-value products segment, which includes its proprietary self-injection systems, stoppers, seals, and plungers.
Second-quarter sales and profits from United Rentals (URI) also came in ahead of analysts' forecasts, and shares of the construction and industrial equipment rental firm jumped 9%. In addition, United Rentals boosted its sales forecast for the full year, expanded its 2025 share buyback program by $400 million, and announced a quarterly dividend. Analysts at Bank of America raised their price target on United Rentals stock following the upbeat results.
Healthcare diagnostics company Labcorp Holdings (LH) followed suit with a “beat-and-raise” earnings report. Labcorp's second-quarter revenue and adjusted earnings per share (EPS) exceeded estimates, driven by growth across its diagnostics and biopharma segments, and the company raised its full-year outlook. Shares of Labcorp gained 6.9% on Thursday.
LKQ Corp. (LKQ), a provider of replacement auto parts, cut its 2025 forecasts for revenue, adjusted EPS, free cash flow, and operating cash flow, citing persistent headwinds in the car repair market and a challenging economic backdrop in Europe. Baird analysts cut their price target on LKQ stock in the wake of the earnings release, citing softness across the company's major markets. LKQ shares plummeted 17.8% on Thursday, logging the S&P 500's weakest daily performance.
Shares of Dow Inc. (DOW) plunged 17.5% after the chemical company posted a wider-than-expected quarterly loss and halved its dividend, citing the need for financial flexibility as it navigates prolonged earnings pressure. Dow experienced year-over-year sales declines across all its operating segments, particularly in its packaging and specialty plastics business. Volumes were also down from a year ago, reflecting decreases in Europe, the Middle East, Africa, and India, despite gains in the U.S. and Canada.
Molina Healthcare (MOH) cut its full-year profit guidance for the second time this month, pointing to higher medical costs across its business and especially elevated spending related to its Affordable Care Act plans. Although the insurer's second-quarter revenue came in ahead of estimates, profit for the period fell short of expectations. The company's medical cost ratio, a key measure of the amount of premium revenue paid out by an insurer for medical expenses, increased from a year ago. Molina shares tumbled 16.8% Thursday, putting the stock down more than 46% over the past month.
