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 accounting automation software maker Blackline (NASDAQ:BL)
jumped 3.3% in the morning session after Raymond James upgraded the stock from Market Perform to Outperform, setting a price target of $67.00. The investment firm cited several reasons for its optimistic outlook, including expectations for significant growth in the second half of 2025 and into 2026. Analysts highlighted the company's partnership with SAP, favorable pricing, strong enterprise deal momentum, and new opportunities in the public sector as key growth drivers. Adding to the positive news, BlackLine also announced the appointment of seasoned enterprise software executive Greg Hughes to its Board of Directors, a move that strengthened the board's strategic expertise.
Shares of materials and photonics company Coherent (NYSE:COHR) jumped 3.1% in the morning session after the company inaugurated a new $127 million high-tech manufacturing plant in Vietnam. The U.S.-based semiconductor materials and components firm opened its new facility in the Nhon Trach Industrial Park in Dong Nai province. This move marked a significant step in Coherent's global growth strategy and demonstrated increasing confidence in Vietnam's investment potential. The expansion underscored the company's efforts to scale its operations and meet growing demand. Adding to the positive sentiment, analysts noted strong earnings expectations for the company's upcoming report.
Shares of footwear and apparel conglomerate Deckers (NYSE:DECK)
jumped 11.6% in the afternoon session after the company reported better-than-expected fiscal first-quarter results, driven by strong sales from its Hoka and Ugg brands.
Shares of online marketplace Etsy (NASDAQ:ETSY)
jumped 3.1% in the morning session after the stock hit a new 52-week high of $66.21, fueled by strong recent performance and positive analyst updates. The e-commerce platform's stock had already seen a significant climb, rising 48% over the past couple of months and gaining over 8% in the past week alone.
Raymond James Financial posted record revenues but missed Q3 earnings estimates due to a legal reserve. Wealth management and asset growth remained strong despite the one-time charge. Shares showed stability, reflecting investor confidence in long-term prospects.
On Holding AG (NYSE:ONON) shares traded lower on Tuesday following a downgrade from Raymond James. The stock is bouncing back on Wednesday, but is still down about 2.5% for the week.
Shares of online fashion retailer Revolve (NASDAQ:RVLV)
jumped 3.3% in the morning session after Raymond James raised its price target on the stock and maintained an Outperform rating, citing a more favorable tariff environment.
The healthcare firm is facing renewed scrutiny over its earnings practices and competitive pressures in the pharmacy benefits sector, deepening investor concerns.
Space NK will remain a standalone subsidiary under its current leadership, with CEO Andy Lightfoot and his management team continuing to oversee operations.
Shares of defense, intelligence, and IT solutions provider CACI International (NYSE:CACI)
fell 3% in the afternoon session after an analyst at Raymond James downgraded the stock to "Market Perform" from "Outperform." The downgrade from a prominent Wall Street firm suggests a more neutral outlook on the government IT contractor's future performance. According to the analyst, CACI's strong focus on national security, which accounts for about 94% of its sales, coupled with solid execution, has driven the stock's price up to the firm's previous target. The downgrade reflects the view that after a significant run-up in share price, the stock is "due for a pause." Since Raymond James' last upgrade in January, CACI shares have surged approximately 25%, substantially outpacing the S&P 500's 6% gain over the same period. This change in rating indicates that while the company's fundamentals remain strong, its valuation may now fully reflect its near-term prospects.
