Stock Movers Bank of America Beat; Chip Stock Selloff; Johnson & Johnson and Tariffs
Jul 16, 2025
Bank of America reported record trading revenue, surging past Wall Street expectations. In contrast, ASML lowered its growth forecast due to global tensions, impacting the chip sector. Lam Research also suffered as chip stocks fell. Meanwhile, Johnson & Johnson defied trends by beating sales estimates and raising its outlook, even amid looming tariffs and drug pricing pressures. This financial rollercoaster reveals the volatility and unpredictability of today's market.
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Bank of America Trading Surge
- Bank of America saw a strong second-quarter performance driven by traders thriving amid volatile markets.
- Fixed income, currency, and commodity trading rose 19%, and equity trading increased 9.6%, beating expectations.
Trade Tensions Hit Chip Stocks
- ASML cut its growth forecast citing trade disputes and global tensions, leading to a 7.7% share drop.
- This revision sparked a selloff in related chip stocks like Lam Research and Applied Materials.
J&J Confident Amid Tariff Threats
- Johnson & Johnson beat quarterly sales expectations and raised its full-year outlook despite tariff threats.
- The company views pharmaceutical tariffs as less threatening due to the complexity of global supply chains.