A solid earnings season shows Corporate America’s profit engine is humming along, potentially easing worries that the record-setting rally in US stocks is starting to overheat.

Wall Street investors punished Southwest for chopping its 2025 profit outlook by up to 65%, as the carrier’s executives implement changes driven by its activist investor.

General Motors' profit and revenue declined in its second-quarter but the automaker's results managed to easily top Wall Street's expectations and the company stuck by its full-year financial outlook that it lowered in May.

Labcorp raised its annual profit forecast on Thursday after beating Wall Street estimates for second-quarter profit and revenue on robust demand for its diagnostic tests, sending its shares up over 10%.

Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs

Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings.

Nasdaq beat Wall Street estimates for second-quarter profit on Thursday, as volatile markets boosted trading volumes while first-half listings on its eponymous exchange hit their highest since 2021.