Travelers reported a remarkable second-quarter earnings of $10.04 per share, significantly surpassing the expected $5.42, alongside revenue of $11.53 billion, which boosted its stock by nearly 8% and positively impacted the iShares U.S. Insurance ETF (IAK), up 2%.
In contrast, GSK's shares fell over 2% after the company announced it would halt development of its chronic cough treatment camlipixant due to limited efficacy in trials. Nebius Group's stock rose more than 4% following the announcement of $775 million in debt financing aimed at expanding its AI cloud platform.
Netflix's shares dropped over 7% after reporting second-quarter earnings of 80 cents per share on $12.56 billion in revenue, which did not meet investor expectations, compounded by a decision to reduce the frequency of its engagement reports.
The semiconductor sector faced pressure, with the iShares Semiconductor ETF (SOXX) down nearly 1%, marking its worst week since April 2025, as major players like Taiwan Semiconductor Manufacturing and Astera Labs saw declines. Alphabet's stock fell 2% after reports indicated delays in its Gemini AI model development.
Intuitive Surgical's shares plummeted over 12% despite beating earnings expectations, as it maintained a cautious outlook for future growth. SpaceX's stock fell more than 4% after an aborted launch of its Starship rocket. Energy companies BP and ConocoPhillips saw a 1% increase in shares amid reports of upcoming multi-billion dollar investments in Iraq.
Alcoa's shares slipped 3% despite reporting better-than-expected earnings, as it lowered its production outlook for alumina. The software sector also faced declines, with the iShares Expanded Tech-Software Sector ETF (IGV) down over 1%, reflecting a broader trend of weakness in tech stocks