Tidewater (TDW) +29% on $500M Buyback

Shares of Tidewater surged 29% after the company’s Board of Directors authorized a new $500 million share repurchase program. Management framed the move as a strong vote of confidence in long-term growth prospects and capital allocation discipline.

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Backblaze (BLZE) +24.9% on Buyback Announcement

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Backblaze jumped nearly 25% in a single session after unveiling a $10 million share repurchase program. The cloud storage provider’s board cited a compelling valuation and healthy cash position as key drivers behind the decision.

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Record U.S. Store Closures in 2025 Signal Deepening Consumer Strain

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U.S. retailers are shutting their doors at a pace not seen before, with over 120 million square feet of retail space permanently closed in the first half of 2025. According to Coresight Research, 5,822 closures were announced by June 27—far outpacing the 3,496 seen over the same period last year and on track to break the pandemic-era record.
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At Home and Rite Aid together accounted for a significant portion of space lost, while Claire’s announced 18 store closures after filing for Chapter 11—its second bankruptcy since 2018. Big box retailers like Big Lots, Joann Fabrics, Kohl’s, JCPenney, Macy’s, and Party City are also accelerating downsizing as debt burdens rise and in-store traffic drops.
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The rapid growth of online platforms like Amazon, Temu, Shein, and TikTok’s social commerce are largely to blame. But struggles among consumers are a concern.
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Student loan delinquencies jumped to 12.9% in Q2, up sharply from 8% in March and well above pre-pandemic norms. Continuing jobless claims have climbed to 1.97 million—the highest since late 2021—while U.S. manufacturing activity has contracted for five consecutive months. With the average tariff rate now near 18%, the highest since the 1930s, retailers face rising import costs alongside falling demand.
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Moody’s Analytics chief economist Mark Zandi warned that the economy is “on the precipice of recession,” citing flat consumer spending, weakening labor trends, and no near-term relief from the Fed. If these pressures persist, store closures could accelerate, leaving even familiar local retailers at risk of disappearing by 2026.

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Palantir Delivers Blowout Quarter, Raises Full-Year Outlook

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Palantir posted another blockbuster quarter, with Q2 revenue surging 48% YoY to $1.00B, handily beating estimates and marking its 8th straight quarter of accelerating growth. Operating profit more than doubled to $269M, while adjusted operating margin expanded to 46% from 37% a year ago. Free cash flow jumped nearly fourfold to $569M.
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Growth was broad-based: U.S. commercial revenue—now the company’s “emerging core”—soared 93% to $306M, while government sales climbed 49%. CEO Alex Karp pointed to three “mega trends” powering demand: custom AI applications, data infrastructure investment, and defense tech modernization.

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The company raised its FY25 revenue guidance to $4.14–$4.15B (from $3.89–$3.90B) and now expects adjusted operating profit of $1.91–$1.92B, with free cash flow potentially hitting $2B. Q3 revenue is projected at $1.08–$1.09B, well ahead of consensus.
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UBS called the results a “clean beat” with “no cracks in the story,” boosting its price target to $165 from $110, though valuation remains a sticking point at 136x projected 2026 free cash flow. Analysts noted the print strengthens the bullish case for data and AI infrastructure leaders like Snowflake and Databricks.