Stocks Recover as Wall Street Remains Upbeat on Earnings Reports

Published: April 22, 2025 by Omor IE

Key Points

Stocks are up across the board as Monday’s selloff cools.
Some companies have also reported very strong earnings.
Regardless, many are still down due to the tariff impacts expected ahead.
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We are seeing the complete opposite picture of what we saw on Monday. Stocks have broadly gained across most sectors, and except for a few defense stocks falling, most have gained. Q1 earnings from some companies have been better than many expected.

This obviously does not fully offset the weaker macro fundamentals. Investors are still worried about the long-term impact of tariffs and the uncertainty that results from a trade policy changing every other day. However, any positivity is welcome in the current environment, and today’s recovery is a reflection of that.

Here’s a market update as of 11:00 A.M (ET) today.

The S&P 500 is up 105.63 points, or 2.05%.
The Nasdaq Composite is up 355.4 points, or 2.23%.
The Dow Jones Industrial Average is up 779.12 points, or 2.04%.

Earnings Beats by Several Companies

3M (NYSE: MMM) is up 7.5% as it beat earnings estimates. However, it said that tariffs could cause its EPS to take a 20 to 40-cent hit. Revenue came in at $5.8 billion and surpassed the $5.73 billion consensus. Non-GAAP EPS also beat the $1.77 consensus and came in at $1.88.
Verizon (NYSE: VZ) is down 1.2%, even though it beat Q1 earnings estimates. This is due to the company’s phone subscriber losses exceeding forecasts.
Lockheed Martin (NYSE: LMT) is down 2.4%. It trounced earnings estimates and reported $7.28 in GAAP EPS. The consensus here was at $6.35. The stock still declined due to spillover effects from other defense companies missing. Northrop Grumman (NYSE: NOC) missed significantly.

All eyes are on Tesla (NASDAQ: TSLA) right now. The company is expected to report its earnings after the stock market closes.

Notable Gainers Today

Webull Corporation (NASDAQ: BULL) is up 26.8% due to continuing post-IPO volatility.
NovaGold Resources (NYSEAMERICAN: NG) is up 22% after announcing a $1 billion acquisition deal.
Cipher Mining (NASDAQ: CIFR) is up 16% as major institutional investors like JPMorgan and Invesco have bought shares, and Bitcoin has broken the $90,000 resistance level today.
TeraWulf (NASDAQ: WULF) is another Bitcoin mining company. It is up 15%.
CleanSpark (NASDAQ: CLSK) is also up 15%. And yes, this is another crypto mining company. Most major crypto miners are seeing significant gains today.

Notable Losers Today

Northrop Grumman is down 11.5%. As mentioned previously, it missed earnings estimates. The company’s sales fell 6.6% year-over-year to $9.47 billion and were a 4.6% miss vs. analyst estimates of $9.93 billion in revenue.
Herc Holdings (NYSE: HRI) is down 11.5%. It also missed earnings estimates. EPS came in at $1.3 and was short of the $2.24 consensus.
Iridium Communications (NASDAQ: IRDM) is down 9% despite beating earnings estimates. This is due to management disclosing tariff risks and equipment revenue falling by 7%.
RTX Corporation (NYSE: RTX) is down 8.2% despite posting strong earnings, as its EPS guidance midpoint at $6.07 fell short of the $6.11 consensus.
Halliburton (NYSE: HAL) is down 7%. EPS came in soft as it fell 21.05% year-over-year to 60 cents in Q1. This matched estimates, but the company expects the sluggish performance to continue. Full-year revenue guidance shows flat growth to a slight decline.