Penguin Solutions, Inc. (PENG) posted its third quarter results on Tuesday, July 7. The technology company’s stock traded over 5% higher after reporting revenue that was above expectations.

The company’s revenue for the third quarter totaled $478.7 million. This was up 48% from revenue of $324.3 million during the same quarter last year and surpassed analysts’ estimates of $421 million.

“Penguin Solutions delivered a record quarter, exceeding expectations for both net sales and EPS,” said Penguin Solutions CEO, Kash Shaikh. “We are seeing very strong AI-driven customer demand for memory and AI infrastructure solutions. Given robust demand and disciplined execution, we are raising our full-year outlook for both net sales and EPS.” 

Penguin Solutions reported net income of $37.2 million or $0.68 per diluted share for the quarter. This was an improvement from a net loss during the same quarter last year of $372,000 or $0.01 per diluted share.

The California-based company, which designs, builds and manages large-scale AI infrastructure projects, reported increases in revenue across its segments. Advanced Computing revenue came in at $137.6 million, up 4% from $132.5 million compared to this time last year while its Optimized LED segment experienced growth of 7% to $66.1 million. The company’s Integrated Memory revenue grew 111% to $275.1 million. The company attributed the rise to strong demand, favorable pricing environment, effective supply chain execution and the increased importance of AI memory capabilities. For the current fiscal year, the company expects net sales to increase by 22%, with a margin of plus or minus 2%.

Penguin Solutions, Inc. (PENG) shares ended the week at $78.35, up 21% for the week.

Helen of Troy Announces Earnings

Helen of Troy Limited (HELE) announced its first quarter earnings on Wednesday, July 8. Despite reporting better-than-expected revenue, the company’s stock fell around 2% after the release. 

Helen of Troy reported sales of $402.1 million in the first quarter. This was an increase of 8% from $371.7 million reported at this time last year and above analysts’ expectations of $375.1 million.

“We are off to a solid start in fiscal 2027, with first quarter net sales and adjusted EPS above our expectations and growth across both segments,” said Helen of Troy’s CEO, G. Scott Uzzell. “While there is still meaningful work ahead and we are navigating a dynamic operating environment, we are encouraged by the progress we are making and believe we are creating the foundation for more consistent, long-term growth.”

Helen of Troy posted net income of $35.8 million or $1.51 per diluted share. This was an improvement from a net loss of $450.7 million or $19.65 per diluted share at this time last year.

The parent company of well-known brands such as Hydro Flask, OXO, Braun and Honeywell reported a 9.5% increase in its Home & Outdoor revenue to $194.9 million. This increase was primarily driven by new product launches, expanded distribution for home and insulated beverageware and strong international demand for lifestyle and travel packs. Helen of Troy saw a 7.0% increase in revenue for its Beauty & Wellness segment to $207.2 million. The company’s operating margin increased to 15% from negative 109.5% as Helen of Troy saw favorable gains from the sale of a distribution facility. The company updated its fiscal 2027 outlook and expects net sales to be in the range of $1.759 billion to $1.831 billion.

Helen of Troy Limited (HELE) shares ended the week at $26.34, down 6% for the week.

Levi Strauss Releases Earnings Report

Levi Strauss & Co. (LEVI) released its second quarter financial results on Wednesday, July 8. The denim powerhouse’s revenues exceeded expectations for the quarter, but its shares fell more than 5% following the earnings release.

Levi’s reported revenue of $1.56 billion for the second quarter, which was up 8% from revenue of $1.45 billion in the same quarter last year. This was slightly above analysts’ expectations of $1.52 billion.  

“The Levi’s® brand is connecting with consumers around the world in more powerful ways than ever before, and our Q2 results are another proof point that our strategies are working and our team is executing,” said Levi Strauss & Co. CEO, Michelle Gass. “While we are pleased with the progress, we are still in the early stages of our long-term growth journey, with more ways to win than ever before.”

The company reported net income of $87.3 million or $0.22 per diluted share. This was an increase from net income of $67.0 million or $0.17 per diluted share reported during the same quarter last year.

The company’s global direct-to-consumer (DTC) revenue and e-commerce segments saw the most growth, increasing 11% and 19% respectively. Levi’s declared a dividend of $0.16 per share of common stock, payable on August 5, 2026, to the stockholders of record for Class A and Class B common stock on July 22, 2026. The company updated its full-year fiscal 2026 guidance and anticipates net revenue to increase between 7.0% to 7.5% year-over-year and adjusted earnings per share between $1.46 to $1.52.

Levi Strauss & Co. (LEVI) shares ended at $24.31, down 1% for the week.

The Dow started the week of 7/6 at 52,828 and closed at 52,637 on 7/10. The S&P 500 started the week at 7,507 and closed at 7,575. The NASDAQ started the week at 26,000 and closed at 26,282.

U.S. Treasury yields rose early in the week as investors monitored the Iran war’s effect on oil prices and reviewed the Federal Reserve meeting minutes which revealed a continuing split on the rate outlook. Yields declined at the end of the week as the unemployment data report showed a strong labor market.

On Wednesday, the Federal Reserve released the minutes from the Federal Open Market Committee’s (FOMC) June meeting. At the meeting, the members agreed to maintain the federal funds rate within the range of 3.50% to 3.75%. Although the decision was unanimous, the minutes noted that the policy makers were split over the direction of future interest rate decisions.

“[M]any participants indicated that the appropriate level of the federal funds rate would be within or slightly below the current target range at the end of this year,” the FOMC minutes stated. “Many other participants, however, assessed that the appropriate level of the federal funds rate would be above the current target range at the end of this year. Participants noted that their future policy actions would depend on incoming information.”

The benchmark 10-year Treasury note yield opened the week of July 6 at 4.48% and traded as high as 4.60% on Wednesday. The 30-year Treasury bond opened the week at 4.98% and traded as high as 5.09% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment was 215,000 for the week ending July 4. This was down 2,000 from the prior week’s revised level and below analysts’ expectations of 218,000. Continuing unemployment claims increased by 8,000 to 1.81 million.

"Claims remain low and stable, with the rise over the last couple of months probably reflecting residual seasonality, rather than an increase in labor market slack," said chief U.S. economist at Pantheon Macroeconomics, Samuel Tombs. “Looking ahead, layoffs likely will remain low."

The 10-year Treasury note yield finished the holiday week of 7/6 at 4.56%, while the 30-year Treasury note yield finished the week at 5.06%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, July 9. The survey showed mortgage rates edging higher.

This week, the 30-year fixed mortgage rate averaged 6.49%, up from last week’s average of 6.43%. Last year at this time, the 30-year fixed mortgage rate averaged 6.72%.

The 15-year fixed mortgage rate averaged 5.82% this week, up from last week’s average of 5.79%. During the same week last year, the 15-year fixed mortgage rate averaged 5.86%.

“The 30-year fixed-rate mortgage averaged 6.49% this week,” said chief economist at Freddie Mac, Sam Khater. “Mortgage rates have not changed much recently, but economic growth and housing affordability continue to improve for homebuyers as they shop for homes in today’s market."

Based on published national averages, the savings rate was 0.38% as of 6/15. The one-year CD averaged 1.65%.