Shares of diversified bank holding company Merchants Bancorp (NASDAQCM:MBIN) fell 8.9% in the afternoon session after the company reported disappointing second-quarter 2025 earnings that fell significantly short of analyst expectations. The bank posted diluted earnings per share of $0.60, missing the consensus analyst estimate of $1.12. Net income for the quarter came in at $38.0 million, a significant drop from the $76.4 million earned in the same period a year earlier. The company attributed the decline primarily to a large increase in its provision for credit losses. This provision was linked to lower appraised values on multi-family properties and an ongoing investigation into borrower mortgage fraud. In response to the results, analysts at Raymond James lowered their price target on the stock, highlighting the earnings miss and increased net charge-offs.
Shares of off-Road and powersports vehicle corporation Polaris (NYSE:PII)
jumped 10.9% in the morning session after the company reported second-quarter earnings and revenue that significantly surpassed analyst expectations. The off-road vehicle maker posted adjusted earnings per share of $0.40, a substantial beat compared to the consensus estimate. Additionally, revenue for the quarter came in at $1.85 billion, exceeding Wall Street's forecast of $1.74 billion. Despite the strong performance against estimates, total sales did fall by about 6% compared to the same period last year. The positive results also came alongside guidance for the next quarter that was better than analysts had anticipated. Investors appeared to focus on the better-than-expected profitability and outlook, even as the company withheld its full-year guidance, citing macroeconomic uncertainty.
Shares of cruise vacation company Royal Caribbean (NYSE:RCL)
fell 5% in the morning session after the company's second-quarter revenue slightly missed Wall Street expectations and its third-quarter profit forecast was underwhelming. The negative reaction occurred despite the cruise operator reporting stronger-than-expected second-quarter profits, with adjusted earnings of $4.38 per share, and raising its full-year guidance. However, the company's revenue of $4.54 billion came in just shy of the $4.55 billion consensus estimate. Digging deeper, concerns may have also stemmed from a projected increase in net cruise costs for the third quarter and a slowdown in net yield growth, a key measure of profitability.
Shares of biopharma manufacturing company Repligen Corporation (NASDAQ:RGEN)
jumped 7.8% in the morning session after the company reported strong second-quarter 2025 financial results and raised its full-year guidance. The life sciences company announced that its revenue climbed 15% year-over-year to $182 million, driven by growth across all its franchises and geographies. Profitability also saw a substantial increase, with net income rising to $14.87 million from $5.71 million in the same quarter last year. A key indicator of future performance, company orders, grew by over 20%. Buoyed by these strong results, Repligen lifted its full-year 2025 revenue forecast to a range of $715 million to $735 million.
Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER)
fell 4.3% in the morning session after the company lost a UK Supreme Court appeal regarding a value-added tax (VAT) on its rivals. The ruling confirmed that rival taxi operators in England and Wales will not face a 20% value-added tax (VAT) charge on their profit margins for operations outside of London. This decision represented a setback for Uber, as a different outcome could have imposed significant costs on its competitors, potentially leveling the playing field. The court's decision allows these rival firms to maintain their existing cost structures, which could make it more challenging for Uber to compete on price and expand its market presence in those regions.
Shares of property casualty insurer Cincinnati Financial (NASDAQ:CINF) jumped 4.6% in the morning session after the company reported second-quarter results that significantly exceeded analyst expectations, driven by strong underwriting improvements and robust investment income. The company posted adjusted earnings of $1.97 per share, easily beating the analyst consensus of $1.41. Revenue also impressed, reaching $3.25 billion, which was well above the estimated $2.53 billion. A key metric for insurers, the property and casualty combined ratio, improved to 94.9% from 98.5% a year earlier. A combined ratio below 100% indicates an underwriting profit, so a lower number is better. This strong performance, which also included an 18% rise in investment income, occurred despite the company facing higher catastrophe-related losses during the quarter.
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