- Arun Goswami
- 21 Mar, 2025
- Mumbai
Birla Precision Technologies Limited rose 4.5% to ₹41.50 despite the engineering company reporting a 99% plunge in quarterly profit from a year ago.
Consolidated revenue declined to ₹57.6 crore from ₹67.4 crore, net income dropped to ₹0.9 crore from ₹62.2 crore, and diluted earnings per share fell to 14 paisa from ₹1.06 a year ago.
Smartlink Holdings Limited increased 1.5% to ₹132.90 after the non-banking financial company's net income swung to a profit in the December quarter.
Consolidated revenue advanced to ₹56.4 crore from ₹40.4 crore, net income swung to a profit of ₹2.5 crore from a loss of ₹1.2 crore, and diluted earnings per share rose to an income of ₹2.55 from a loss of ₹1.22 a year ago.
MSTC Limited advanced 1.9% to ₹517.10 after the e-commerce services provider reported a six-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹96.2 crore from ₹94.9 crore, net income jumped to ₹250.9 crore from ₹37 crore, and diluted earnings per share rose to ₹35.63 from ₹5.89 a year ago.
The company's board declared a second interim dividend for the financial year 2025 of ₹37 per share, payable within 30 days from the date of its declaration.
Neuland Laboratories Ltd. edged higher 1.7% to ₹11,871.40, and the contract development company reported a 25% increase in net income in the December quarter.
Consolidated revenue advanced to ₹402 crore from ₹394.9 crore, net income increased to ₹101.6 crore from ₹81.4 crore, and diluted earnings per share rose to ₹79.18 from ₹63.44 a year ago.
ISGEC Heavy Engineering Ltd. jumped 3.5% to ₹1,018.45 despite the diversified heavy engineering company reporting a 65% decline in profit in the December quarter.
Consolidated revenue decreased to ₹1,501 crore from ₹1,667 crore, net income declined to ₹23 crore from ₹66.6 crore, and diluted earnings per share fell to ₹2.73 from ₹8.42 a year ago.
Elgi Equipments Limited gained 0.7% to ₹493.90 after the air compressor manufacturer reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹861 crore from ₹833 crore, net income decreased to ₹80.5 crore from ₹83.8 crore, and diluted earnings per share fell to ₹2.55 from ₹2.65 a year ago.
Ducon Infratechnologies Ltd. inched higher 3% to ₹5.48 after the plant engineering and management company reported a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹112.6 crore from ₹112.3 crore, net income rose to ₹3.4 crore from ₹3.1 crore, and diluted earnings per share fell to 10 paisa from 12 paisa a year ago.
Bayer Crop Science Limited decreased 0.5% to ₹4,952.50, and the agriculture solutions provider reported a slight increase in revenue and a 63% decline in profit in the December quarter.
Consolidated revenue advanced to ₹1,089.6 crore from ₹969.5 crore, net income decreased to ₹34.2 crore from ₹93.1 crore, and diluted earnings per share dropped to ₹7.61 from ₹20.72 a year ago.
- Barry Adams
- 20 Mar, 2025
- New York City
Stock market indexes struggled to advance in Thursday's trading following a surge in the previous session as investors reviewed major central bank decisions and home sales data.
The S&P 500 index was nearly flat, and the Nasdaq Composite edged down 0.2%, a day after the Federal Reserve held the fed funds rate range steady.
Benchmark indexes soared in yesterday's trading after Fed Chair Jerome Powell labeled the Trump administration's tariffs as "transitory" and signaled as many as two rate cuts in 2025.
The Bank of England held its bank rate steady at 4.5%. The Swiss National Bank lowered its policy rate by 25 basis points to 0.25%, and Sweden's Riksbank held steady its policy rate at 2.25%.
Markets are likely to lack direction over the next two weeks of trading, as investors await the release of details of new tariffs starting April 2 covering shipments from India, Japan, South Korea, and China.
Existing Home Sales Rebound In February, Median Home Price Advances
Investor sentiment was bolstered after existing home sales in February rose by 4.2% from the previous month to an annual pace of 4.26 million, rebounding from the downwardly revised drop of 4.7% in the previous month.
The National Association of Realtors released the monthly sales data on Thursday.
Existing home sales declined 1.2% from a year ago, amid elevated prices, and median home prices rose 3.8% to $398,400, and inventory of unsold homes fell 5.1% from the previous month to 1.24 million, equivalent to 3.5 months of supply at the current sales pace.
Initial jobless claims for the week ending March 15 totaled 223,000, an increase of 2,000 from the previous week, according to data released by the U.S. Department of Labor.
Continuing claims, which lag by one week, totaled 1.89 million, an increase of 33,000 from the previous week.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.1% to 5,666.54, the Nasdaq Composite edged down 0.1% to 17,730.43, and the Russell 2000 index was down 0.6% to 2,068.52.
The yield on 2-year Treasury notes edged lower to 3.95%, 10-year Treasury notes decreased to 4.19%, and 30-year Treasury bonds declined to 4.50%.
WTI crude oil decreased $0.15 to $66.76 a barrel, and natural gas prices edged lower by $0.13 to $4.12 a thermal unit.
Gold decreased by $15.73 to $3,034.31 an ounce, and silver edged down by $0.57 to $33.34.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.65 to 104.08 and traded at a two-year high.
U.S. Stock Movers
Darden Restaurants Inc. gained 4.6% to $197.49, and the parent company of Olive Garden and Seasons 52 reported mixed quarterly results.
The multi-brand restaurant company reported consolidated same-store sales rose 0.7% in the fiscal third quarter ending on February 23.
The company declared a cash dividend of $1.40 per share payable on May 1 to shareholders on record on April 10.
Consolidated sales in the quarter increased to $3.2 billion from $3.0 billion, net income advanced to $323.4 million from $312.9 million, and diluted earnings per share fell to $1.18 from $1.20 a year ago.
The company revised its full-year sales estimate to $12.1 billion and same-store sales increased by 1.5%.
Additionally, the company tightened its full-year adjusted earnings estimate to between $9.45 and $9.52, from the previous range between $9.40 and $9.60 per share.
Five Below increased 6.5% to $80.57, and the deep discount store chain reported better-than-expected fourth quarter results, but the company's fiscal 2025 estimate included margin contraction driven by higher tariffs.
The company said same-store sales declined 3%, earnings per share was $3.48, and consolidated sales increased 4% to $1.39 billion.
ProAssurance soared 48% to $22.99 after the company agreed to be acquired by the malpractice insurance provider, The Doctor Company, for $25 a share.
Microchip Technology Company declined 5.2% to $51.76 after the advanced semiconductor company announced a convertible stock offering plan of $1.35 billion.
Apple Inc. decreased 0.8% to $213.63, and the company announced an executive shakeup to expedite the implementation of artificial intelligence technology, including its Siri virtual assistant.
Apple Vision Pro creator Mike Rockwell will take over the leadership position for the company’s AI team, replacing John Giannandrea.
Madison Square Garden Sports Corp. increased 2% to $198.76 after the Boston Celtics were acquired by an investor group for $6.1 billion, supporting a higher valuation for the National Basketball Association team.
Madison Square Garden Sports owns the New York Knicks and its development league team, and the New York Rangers, the National Hockey League team.
- Barry Adams
- 20 Mar, 2025
- New York City
Stock market indexes struggled to advance in Thursday's trading following a surge in the previous session as investors reviewed major central bank decisions and home sales data.
The S&P 500 index was nearly flat, and the Nasdaq Composite edged down 0.2%, a day after the Federal Reserve held the fed funds rate range steady.
Benchmark indexes soared in yesterday's trading after Fed Chair Jerome Powell labeled the Trump administration's tariffs as "transitory" and signaled as many as two rate cuts in 2025.
The Bank of England held its bank rate steady at 4.5%. The Swiss National Bank lowered its policy rate by 25 basis points to 0.25%, and Sweden's Riksbank held steady its policy rate at 2.25%.
Markets are likely to lack direction over the next two weeks of trading, as investors await the release of details of new tariffs starting April 2 covering shipments from India, Japan, South Korea, and China.
Existing Home Sales Rebound In February, Median Home Price Advances
Investor sentiment was bolstered after existing home sales in February rose by 4.2% from the previous month to an annual pace of 4.26 million, rebounding from the downwardly revised drop of 4.7% in the previous month.
The National Association of Realtors released the monthly sales data on Thursday.
Existing home sales declined 1.2% from a year ago, amid elevated prices, and median home prices rose 3.8% to $398,400, and inventory of unsold homes fell 5.1% from the previous month to 1.24 million, equivalent to 3.5 months of supply at the current sales pace.
Initial jobless claims for the week ending March 15 totaled 223,000, an increase of 2,000 from the previous week, according to data released by the U.S. Department of Labor.
Continuing claims, which lag by one week, totaled 1.89 million, an increase of 33,000 from the previous week.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.1% to 5,666.54, the Nasdaq Composite edged down 0.1% to 17,730.43, and the Russell 2000 index was down 0.6% to 2,068.52.
The yield on 2-year Treasury notes edged lower to 3.95%, 10-year Treasury notes decreased to 4.19%, and 30-year Treasury bonds declined to 4.50%.
WTI crude oil decreased $0.15 to $66.76 a barrel, and natural gas prices edged lower by $0.13 to $4.12 a thermal unit.
Gold decreased by $15.73 to $3,034.31 an ounce, and silver edged down by $0.57 to $33.34.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.65 to 104.08 and traded at a two-year high.
U.S. Stock Movers
Darden Restaurants Inc. gained 4.6% to $197.49, and the parent company of Olive Garden and Seasons 52 reported mixed quarterly results.
The multi-brand restaurant company reported consolidated same-store sales rose 0.7% in the fiscal third quarter ending on February 23.
The company declared a cash dividend of $1.40 per share payable on May 1 to shareholders on record on April 10.
Consolidated sales in the quarter increased to $3.2 billion from $3.0 billion, net income advanced to $323.4 million from $312.9 million, and diluted earnings per share fell to $1.18 from $1.20 a year ago.
The company revised its full-year sales estimate to $12.1 billion and same-store sales increased by 1.5%.
Additionally, the company tightened its full-year adjusted earnings estimate to between $9.45 and $9.52, from the previous range between $9.40 and $9.60 per share.
Five Below increased 6.5% to $80.57, and the deep discount store chain reported better-than-expected fourth quarter results, but the company's fiscal 2025 estimate included margin contraction driven by higher tariffs.
The company said same-store sales declined 3%, earnings per share was $3.48, and consolidated sales increased 4% to $1.39 billion.
ProAssurance soared 48% to $22.99 after the company agreed to be acquired by the malpractice insurance provider, The Doctor Company, for $25 a share.
Microchip Technology Company declined 5.2% to $51.76 after the advanced semiconductor company announced a convertible stock offering plan of $1.35 billion.
Apple Inc. decreased 0.8% to $213.63, and the company announced an executive shakeup to expedite the implementation of artificial intelligence technology, including its Siri virtual assistant.
Apple Vision Pro creator Mike Rockwell will take over the leadership position for the company’s AI team, replacing John Giannandrea.
Madison Square Garden Sports Corp. increased 2% to $198.76 after the Boston Celtics were acquired by an investor group for $6.1 billion, supporting a higher valuation for the National Basketball Association team.
Madison Square Garden Sports owns the New York Knicks and its development league team, and the New York Rangers, the National Hockey League team.
- Bridgette Randall
- 20 Mar, 2025
- London
European markets lacked direction in Thursday's trading as investors reviewed the latest monetary policy decisions.
Benchmark indexes in Frankfurt, Paris, London, and Milan decreased, and central banks of the UK, Switzerland, and Sweden announced their rate decisions.
The Bank of England held its policy rate unchanged, and policymakers cited global trade uncertainties and high inflation.
The monetary policy committee, in an 8-to-1 vote, decided to leave the bank rate at 4.5%, as members decided to wait for additional data on inflation.
Consumer price inflation rose to 3% in January, and retail inflation is expected to accelerate to as high as 3.75% by the third quarter of 2025.
The committee also noted elevated geopolitical uncertainties and a brewing global trade war, adding another layer of volatility to stock prices.
The Swiss National Bank lowered its benchmark rate by 25 basis points to 0.25% effective March 21, citing weakening inflation.
The accompanying statement noted retail inflation eased to 0.3% in February from 0.7% in November, and the policy committee reiterated its inflation outlook for 2025.
Retail inflation is estimated to hover at 0.4% in 2025, 0.8% in 2026, and 2027.
Sweden's Riksbank held steady its interest rate, and added that the labor market recovery may lag expectations.
The Executive Board decided to hold policy rate at 2.25%, and signaled that rates are likely to stay at "this level going forward."
The Swedish economy is recovering at a moderate pace, and the estimate of the annual growth in 2025 was revised higher to 1.9% from the previous estimate of 1.8%.
The jobless rate is likely to hover near 8.7% compared to 8.4%, and retail inflation is at 1% from the previous estimate of 0.6% released in December, respectively.
Europe Indexes and Yields
The DAX index decreased by 0.2% to 23,232.97, the CAC-40 index edged lower by 0.2% to 8,156.19, and the FTSE 100 index advanced by 0.4% to 8,740.37.
The yield on 10-year German bonds inched lower to 2.77%, French bonds decreased to 3.45%, the UK gilts moved down to 4.64%, and Italian bonds edged lower to 3.82%.
The euro decreased to $1.09; the British pound was lower at $1.30; and the U.S. dollar was lower and traded at 87.74 Swiss cents.
Brent crude increased $0.43 to $71.21 a barrel, and the Dutch TTF natural gas was higher by €0.09 to €44.02 per MWh.
Europe Stock Movers
Sodexo SA declined 17% to €59.60, and the French catering company lowered its full-year revenue and margin outlook amid a slowdown in North America.
The food service company lowered its organic revenue growth outlook to between 3% and 4%, compared to the previous estimate of between 5.5% and 6.5%, citing weaker volumes and postponement in contracts.
Consolidated revenue in the first quarter of fiscal 2025 increased 3.1% to €12.5 billion.
Net profit from continuing operation decreased 12.5% to €434 million, but underlying net profit from continuing operations increased 5.4% to €450 million.
Prudential plc increased 0.3% to 776.46 pence, and the company announced a health insurance joint venture with India-based HCL Group.
RWE AG decreased 3.8% to €31.80, and the German renewable energy company said it plans to cut investment by 20% over the remainder of this decade, citing policy uncertainty in the U.S.
"We now plan to make total net investments amounting to €35 billion in the six years from 2025 to 2030. This is about a quarter less than the sum we had originally envisaged for this period.
Despite the lower capital expenditure, we still expect to be able to achieve an adjusted net income per share of about €3 in 2027.
The target for 2030 remains in the order of €4 per share," said Dr. Markus Krebber, chief executive of the company, in a letter to shareholders.
Stratec SE dropped 5.5% to €26.90 after the clinical equipment maker postponed the release of its annual report.
- Bridgette Randall
- 20 Mar, 2025
- London
European markets lacked direction in Thursday's trading as investors reviewed the latest monetary policy decisions.
Benchmark indexes in Frankfurt, Paris, London, and Milan decreased, and central banks of the UK, Switzerland, and Sweden announced their rate decisions.
The Bank of England held its policy rate unchanged, and policymakers cited global trade uncertainties and high inflation.
The monetary policy committee, in an 8-to-1 vote, decided to leave the bank rate at 4.5%, as members decided to wait for additional data on inflation.
Consumer price inflation rose to 3% in January, and retail inflation is expected to accelerate to as high as 3.75% by the third quarter of 2025.
The committee also noted elevated geopolitical uncertainties and a brewing global trade war, adding another layer of volatility to stock prices.
The Swiss National Bank lowered its benchmark rate by 25 basis points to 0.25% effective March 21, citing weakening inflation.
The accompanying statement noted retail inflation eased to 0.3% in February from 0.7% in November, and the policy committee reiterated its inflation outlook for 2025.
Retail inflation is estimated to hover at 0.4% in 2025, 0.8% in 2026, and 2027.
Sweden's Riksbank held steady its interest rate, and added that the labor market recovery may lag expectations.
The Executive Board decided to hold policy rate at 2.25%, and signaled that rates are likely to stay at "this level going forward."
The Swedish economy is recovering at a moderate pace, and the estimate of the annual growth in 2025 was revised higher to 1.9% from the previous estimate of 1.8%.
The jobless rate is likely to hover near 8.7% compared to 8.4%, and retail inflation is at 1% from the previous estimate of 0.6% released in December, respectively.
Europe Indexes and Yields
The DAX index decreased by 0.2% to 23,232.97, the CAC-40 index edged lower by 0.2% to 8,156.19, and the FTSE 100 index advanced by 0.4% to 8,740.37.
The yield on 10-year German bonds inched lower to 2.77%, French bonds decreased to 3.45%, the UK gilts moved down to 4.64%, and Italian bonds edged lower to 3.82%.
The euro decreased to $1.09; the British pound was lower at $1.30; and the U.S. dollar was lower and traded at 87.74 Swiss cents.
Brent crude increased $0.43 to $71.21 a barrel, and the Dutch TTF natural gas was higher by €0.09 to €44.02 per MWh.
Europe Stock Movers
Sodexo SA declined 17% to €59.60, and the French catering company lowered its full-year revenue and margin outlook amid a slowdown in North America.
The food service company lowered its organic revenue growth outlook to between 3% and 4%, compared to the previous estimate of between 5.5% and 6.5%, citing weaker volumes and postponement in contracts.
Consolidated revenue in the first quarter of fiscal 2025 increased 3.1% to €12.5 billion.
Net profit from continuing operation decreased 12.5% to €434 million, but underlying net profit from continuing operations increased 5.4% to €450 million.
Prudential plc increased 0.3% to 776.46 pence, and the company announced a health insurance joint venture with India-based HCL Group.
RWE AG decreased 3.8% to €31.80, and the German renewable energy company said it plans to cut investment by 20% over the remainder of this decade, citing policy uncertainty in the U.S.
"We now plan to make total net investments amounting to €35 billion in the six years from 2025 to 2030. This is about a quarter less than the sum we had originally envisaged for this period.
Despite the lower capital expenditure, we still expect to be able to achieve an adjusted net income per share of about €3 in 2027.
The target for 2030 remains in the order of €4 per share," said Dr. Markus Krebber, chief executive of the company, in a letter to shareholders.
Stratec SE dropped 5.5% to €26.90 after the clinical equipment maker postponed the release of its annual report.
- Scott Peters
- 20 Mar, 2025
- New York City
Progressive Corp. plunged 4% to $271.86 after the car and residential property insurance company reported results for 2024.
Revenue increased to $75.4 billion from $62.1 billion, net income jumped to $8.5 billion from $3.9 billion, and earnings per share rose to $14.40 from $6.58 a year ago.
Revenue in the fourth quarter climbed 8% to $623.3 million from $577.4 million, net income edged up 19% to $2.36 billion from $1.99 billion, and earnings per share rose to $4.01 from $3.37 a year earlier.
During the year, the company repurchased 665,095 shares at $201.31 per share for a total worth $134 million.
The insurance company has no debt maturities until 2027.
“In 2024, we announced a $4.50 per share annual variable dividend and finished the year with a debt-to-total capital ratio of 21.2%, which is near the lower end of our historical range,” the company said in a release to investors.
During the year, the company’s investment portfolio returned 4.6%, the fixed-income return was 3.8%, and the equity portfolio returned 22.9%.
General Mills Inc. eased 1.9% to $59.31 after the food provider and parent company of Cheerios reported lower sales in the third quarter of fiscal 2025 ending in February.
Net sales dropped 5% to $4.84 billion from $5.10 billion, net income declined 7% to $625.6 million from $670.1 million, and diluted earnings per share edged down to $1.12 from $1.17 a year ago.
The North America retail segment accounted for the highest percentage of total sales, down 7% to $3.01 billion from $3.24 billion a year earlier.
“The company expects macroeconomic uncertainty to continue to impact consumers in the fourth quarter. Its fourth-quarter plans include investments in consumer value, media support, and in-store visibility,” the company said in a release to investors.
Excluding new tariff threats, General Mills estimated net sales in the fourth quarter to be down between 2% and 1.5%, compared to the previous guidance of the lower end in the range between flat and up 1%.
Adjusted operating profit and adjusted diluted earnings per share are expected to be down between 8% and 7% in constant currency, compared to the previous guidance range of between down 4% and down 2%.
Free cash flow conversion is still expected to be at least 95% of adjusted after-tax earnings.
Signet Jewelers Ltd. surged 17.8% to $56.91 after the diamond jewelry retailer reported lower sales in the fourth quarter of 2024.
Sales declined to $2.35 billion from $2.50 billion, net income slumped to $100.6 million from $617.6 million, and diluted earnings per share fell to $2.30 from $11.75 a year ago.
Sales in the full year decreased to $6.70 billion from $7.17 billion, net income swung to a loss of $35.6 million compared to a profit of $775.9 million, and diluted loss per share was 81 cents compared to a profit of $15.01 a year ago.
“Signet delivered more than $400 million of free cash flow, our 5th year in a row of strong cash conversion to adjusted operating income.
This enabled a reduction in our diluted share count by nearly 20% in FY25 by returning approximately $1 billion to shareholders, including the convertible preferred redemptions,” the company said in a release to investors.
“We are focused on real estate optimization and expect to transition over 10% of mall locations to off-mall and the e-commerce channel over the next three years, leveraging our average mall lease term of just over 2 years.”
J.Jill Inc. gained 1% to $18.79 after the apparel and accessories retailer reported lower sales in the fourth quarter of 2024.
Net sales decreased to $142.84 million from $150.26 million, net income slumped to $2.25 million from $4.77 million, and diluted earnings per share fell to 14 cents from 33 cents a year ago.
Comparable store sales increased by 1.9% in the quarter and were up 1.5% in the full year compared to 2023.
Net sales for the full year jumped to $610.86 million from $608.04 million, net income climbed to $39.48 million from $36.20 million, and diluted earnings per share rose to $2.61 from $2.51 a year earlier.
The company opened five new stores in the fourth quarter and nine new stores during the year, bringing the total count to 525 stores.
J.Jill guided for the first quarter of 2025 net sales to decline between 1% and 4%, with comparable sales down between 2% and 5% compared to 2024.
Adjusted EBITDA is expected to be between $25.0 million and $27.0 million, compared to $35.6 million in the first quarter last year.
For the full year, the apparel retailer estimated sales growth to be up between 1% and 3%, comparable sales flat to up 2% compared to 2024, and new net store growth of 5 to 10 stores.
Adjusted EBITDA is expected to be between $101.0 million and $106.0 million, compared to $107.1 million in 2024.
In December, the company authorized a share repurchase program for up to $25.0 million over the next two years.
In the fourth quarter, J.Jill purchased 19,831 shares and has $24.5 million of remaining authorization.
The company increased its quarterly dividend by 14.3% to 8 cents per share from the previous dividend of 7 cents per share, equal to an annualized dividend of 32 cents per share, and payable on April 16 to stockholders on record as of April 2.
Tencent Holdings Ltd. dropped 3.4% to $521.50 despite the China-based Internet and technology company reporting strong results in the fourth quarter of 2024, driven by a surge in gaming and advertising revenue.
Revenue increased to 172.45 billion yuan from 155.20 billion yuan, net income jumped to 51.32 billion yuan from 27.02 billion yuan, and diluted earnings per share rose to 5.485 yuan from 2.807 yuan a year ago.
The company more than doubled its share repurchase program to approximately HK $112 billion, as it steps up with AI investments for growth and ramps up spending on chips and servers.
Tencent paid a cash dividend of HK $3.40 per share in 2024, equivalent to approximately HK $32 billion.
For 2025, the company proposed an increase of the annual dividend by 32% to HK $4.50 per share, equivalent to approximately HK $41 billion, and the company plans to repurchase at least HK $80 billion worth of shares.
Ping An Insurance (Group) Co. of China Ltd. dropped 4.3% to $49.65 after the Chinese insurance company reported results for 2024.
Revenue increased to 1.14 trillion yuan from 1.03 trillion yuan, profit jumped to 126.61 billion yuan from 85.66 billion yuan, and diluted earnings per share rose to 6.99 yuan from 4.74 yuan a year ago.
The sharp rise in net profit is driven by growth in the company’s life and health insurance business as demand recovered.
The new business value of the life and health insurance business, which measures the profitability of new policies sold, grew by 28.8% to 28.53 billion yuan last year.
The group's number of new customers rose 9.8% from a year earlier to 32.07 million.
Williams Sonoma Inc. plunged 5.9% to $162.09 after the specialty retailer of products for the home reported a comparable brand revenue increase of 3.1% in the fourth quarter of 2024.
Net revenue declined to $2.46 billion from $2.28 billion, net income jumped 16.7% to $410.72 million from $354.44 million, and diluted earnings per share rose to $3.28 from $2.72 a year ago.
Net revenue in the full year dropped to $7.71 billion from $7.75 billion, net income climbed 14.6% to $1.12 billion from $949.76 million, and diluted earnings per share rose to $8.79 from $7.28 a year ago.
Comparable brand revenue jumped 3.1% in the quarter and was down 1.6% for the full year.
The company increased its quarterly dividend by 16%, or 9 cents, to 66 cents per share, payable on May 24 to stockholders on record as of April 17.
Williams Sonoma guided for 2025 net revenues in the range of -1.5% to up 1.5%, comparable sales between flat to up 3%, and an operating margin between 17.4% and 17.8%.
“Over the long term, we continue to expect mid-to-high single-digit annual net revenue growth with an operating margin in the mid-to-high teens,” the company said in a release to investors.
- Scott Peters
- 20 Mar, 2025
- New York City
Progressive Corp. plunged 4% to $271.86 after the car and residential property insurance company reported results for 2024.
Revenue increased to $75.4 billion from $62.1 billion, net income jumped to $8.5 billion from $3.9 billion, and earnings per share rose to $14.40 from $6.58 a year ago.
Revenue in the fourth quarter climbed 8% to $623.3 million from $577.4 million, net income edged up 19% to $2.36 billion from $1.99 billion, and earnings per share rose to $4.01 from $3.37 a year earlier.
During the year, the company repurchased 665,095 shares at $201.31 per share for a total worth $134 million.
The insurance company has no debt maturities until 2027.
“In 2024, we announced a $4.50 per share annual variable dividend and finished the year with a debt-to-total capital ratio of 21.2%, which is near the lower end of our historical range,” the company said in a release to investors.
During the year, the company’s investment portfolio returned 4.6%, the fixed-income return was 3.8%, and the equity portfolio returned 22.9%.
General Mills Inc. eased 1.9% to $59.31 after the food provider and parent company of Cheerios reported lower sales in the third quarter of fiscal 2025 ending in February.
Net sales dropped 5% to $4.84 billion from $5.10 billion, net income declined 7% to $625.6 million from $670.1 million, and diluted earnings per share edged down to $1.12 from $1.17 a year ago.
The North America retail segment accounted for the highest percentage of total sales, down 7% to $3.01 billion from $3.24 billion a year earlier.
“The company expects macroeconomic uncertainty to continue to impact consumers in the fourth quarter. Its fourth-quarter plans include investments in consumer value, media support, and in-store visibility,” the company said in a release to investors.
Excluding new tariff threats, General Mills estimated net sales in the fourth quarter to be down between 2% and 1.5%, compared to the previous guidance of the lower end in the range between flat and up 1%.
Adjusted operating profit and adjusted diluted earnings per share are expected to be down between 8% and 7% in constant currency, compared to the previous guidance range of between down 4% and down 2%.
Free cash flow conversion is still expected to be at least 95% of adjusted after-tax earnings.
Signet Jewelers Ltd. surged 17.8% to $56.91 after the diamond jewelry retailer reported lower sales in the fourth quarter of 2024.
Sales declined to $2.35 billion from $2.50 billion, net income slumped to $100.6 million from $617.6 million, and diluted earnings per share fell to $2.30 from $11.75 a year ago.
Sales in the full year decreased to $6.70 billion from $7.17 billion, net income swung to a loss of $35.6 million compared to a profit of $775.9 million, and diluted loss per share was 81 cents compared to a profit of $15.01 a year ago.
“Signet delivered more than $400 million of free cash flow, our 5th year in a row of strong cash conversion to adjusted operating income.
This enabled a reduction in our diluted share count by nearly 20% in FY25 by returning approximately $1 billion to shareholders, including the convertible preferred redemptions,” the company said in a release to investors.
“We are focused on real estate optimization and expect to transition over 10% of mall locations to off-mall and the e-commerce channel over the next three years, leveraging our average mall lease term of just over 2 years.”
J. Jill Inc. gained 1% to $18.79 after the apparel and accessories retailer reported lower sales in the fourth quarter of 2024.
Net sales decreased to $142.84 million from $150.26 million, net income slumped to $2.25 million from $4.77 million, and diluted earnings per share fell to 14 cents from 33 cents a year ago.
Comparable store sales increased by 1.9% in the quarter and were up 1.5% in the full year compared to 2023.
Net sales for the full year jumped to $610.86 million from $608.04 million, net income climbed to $39.48 million from $36.20 million, and diluted earnings per share rose to $2.61 from $2.51 a year earlier.
The company opened five new stores in the fourth quarter and nine new stores during the year, bringing the total count to 525 stores.
J.Jill guided for the first quarter of 2025 net sales to decline between 1% and 4%, with comparable sales down between 2% and 5% compared to 2024.
Adjusted EBITDA is expected to be between $25.0 million and $27.0 million, compared to $35.6 million in the first quarter last year.
For the full year, the apparel retailer estimated sales growth to be up between 1% and 3%, comparable sales flat to up 2% compared to 2024, and new net store growth of 5 to 10 stores.
Adjusted EBITDA is expected to be between $101.0 million and $106.0 million, compared to $107.1 million in 2024.
In December, the company authorized a share repurchase program for up to $25.0 million over the next two years.
In the fourth quarter, J.Jill purchased 19,831 shares and has $24.5 million of remaining authorization.
The company increased its quarterly dividend by 14.3% to 8 cents per share from the previous dividend of 7 cents per share, equal to an annualized dividend of 32 cents per share, and payable on April 16 to stockholders on record as of April 2.
Tencent Holdings Ltd. dropped 3.4% to $521.50 despite the China-based Internet and technology company reporting strong results in the fourth quarter of 2024, driven by a surge in gaming and advertising revenue.
Revenue increased to 172.45 billion yuan from 155.20 billion yuan, net income jumped to 51.32 billion yuan from 27.02 billion yuan, and diluted earnings per share rose to 5.485 yuan from 2.807 yuan a year ago.
The company more than doubled its share repurchase program to approximately HK $112 billion, as it steps up with AI investments for growth and ramps up spending on chips and servers.
Tencent paid a cash dividend of HK $3.40 per share in 2024, equivalent to approximately HK $32 billion.
For 2025, the company proposed an increase of the annual dividend by 32% to HK $4.50 per share, equivalent to approximately HK $41 billion, and the company plans to repurchase at least HK $80 billion worth of shares.
Ping An Insurance (Group) Co. of China Ltd. dropped 4.3% to $49.65 after the Chinese insurance company reported results for 2024.
Revenue increased to 1.14 trillion yuan from 1.03 trillion yuan, profit jumped to 126.61 billion yuan from 85.66 billion yuan, and diluted earnings per share rose to 6.99 yuan from 4.74 yuan a year ago.
The sharp rise in net profit is driven by growth in the company’s life and health insurance business as demand recovered.
The new business value of the life and health insurance business, which measures the profitability of new policies sold, grew by 28.8% to 28.53 billion yuan last year.
The group's number of new customers rose 9.8% from a year earlier to 32.07 million.
- Inga Muller
- 20 Mar, 2025
- Frankfurt
Computacenter Plc. surged 2.1% to 2.644 pence after the information technology and services provider reported higher revenue in 2024.
Revenue increased 2.9% to £6.96 billion from £6.92 billion, profit declined to £170.8 million from £197.6 million, and diluted earnings per share fell 11.7% to 152.9 pence from 173.2 pence a year ago.
Profit before tax dropped 10.1% to £244.6 million from £272.1 million a year earlier.
The North American market accounted for nearly a quarter of the group's adjusted operating profit in 2024.
The company increased its dividend per share to 70.7 pence from 70.0 pence a year ago, payable on July 4 to shareholders on record as of June 6, and the shares will be marked ex-dividend on June 5.
As of the end of December 2024, the company had distributable dividend reserves of £319.8 million, compared to £474.1 million a year earlier.
Computacenter completed a £200 million share buyback program in October, and the company had distributed almost £1 billion of capital to shareholders since 2013.
The company guided for 2025 central costs, including group-wide investments, to be between £50 million and £55 million, an adjusted effective tax rate between 29.5% and 31.5%, and a dividend cover of 2-2.5x adjusted diluted earnings per share.
In 2024, total central corporate costs increased by 16.2% to £50.9 million from £43.8 million in 2023.
“In 2024, we spent £36.8 million on strategic corporate initiatives as we continued our investment in new systems, toolsets, and cyber resilience. This compared to £28.1 million in 2023, which in turn was almost double the spend in 2022,” the company said in a release to investors.
SThree Plc. eased 0.5% to 275.00 pence after the UK-based specialist staffing company reported lower sales in 2024.
Revenue declined to £1.49 billion from £1.66 billion, profit edged down to £49.69 million from £56.05 million, and diluted earnings per share fell to 37.1 pence from 41.5 pence a year ago.
Same-store sales dropped 8% in the year.
The company proposed a final dividend of 9.2 pence per share for 2024, down from 11.6 pence per share in 2023.
During the year, SThree paid a final dividend of 11.6 pence per share for a total of £15.86 million, compared to 11.0 pence per share for a total of £27.37 million in 2023.
Swatch Group gained 1.3% to CHF 167.00 after the luxury watches and jewelry retailer reported results for 2024.
Net sales dropped to CHF 6.73 billion from CHF 7.89 billion, net income edged down to CHF 193 million from CHF 869 million, and diluted earnings per share fell to CHF 0.75 from CHF 3.35 a year ago.
Net sales in the watches and jewelry segment accounted for CHF 6.41 billion, and the company’s electronic systems division marked CHF 316 million.
Sales in Asia led all other regions with net sales of CHF 3.55 billion, down from CHF 4.43 billion in 2023.
“Demand in China will continue to be rather restrained. The expectation is that the habits and behavior of Chinese consumers will continue to change, which will open up plenty of new opportunities for the strongly positioned brands,” the company said in a release to investors.
The company’s costs for research and development amounted to CHF 273 million in the year, representing 4.1% of net sales, compared to CHF 275 million, or 3.5% of net sales, in 2023.
Swatch proposed a dividend of CHF 0.90 per share for a total of CHF 105 million, compared to a dividend of CHF 1.30 per share for a total of CHF 152 million a year ago.
Essentra Plc. slumped 5.9% to 108.80 pence after the UK-based provider of plastic injection-molded, vinyl-dip-molded, and metal items reported results for 2024.
Revenue declined to £302.4 million from £316.3 million, profit jumped to £10.6 million from £5.4 million, and diluted earnings per share climbed to 3.7 pence from 1.8 pence a year ago.
The company proposed a final dividend of 1.55 pence per share, down from 2.4 pence in 2023, payable on July 3 to shareholders on record as of May 16, with the ex-dividend date on May 15.
Essentra’s share repurchase program announced in February 2023 remains in progress, and as of the end of December 2024, a total of 16,387,728 shares had been purchased at an average price of 176.4 pence per share, totaling £28.9 million.
Of the shares purchased, 4,198,821 were transferred into treasury, and 12,188,907 had subsequently been cancelled, which represented 4.0% of the issued share capital of the company, excluding treasury shares, when the program commenced.
Deezer SA dropped 8% to €1.37 after the music platform operator reported results for 2024.
Revenue increased to €541.71 million from €484.66 million, net loss shrank to €25.89 million from €57.67 million, and diluted loss per share narrowed to 21 cents from a loss of 47 cents a year ago.
- Inga Muller
- 20 Mar, 2025
- Frankfurt
Computacenter Plc. surged 2.1% to 2.644 pence after the information technology and services provider reported higher revenue in 2024.
Revenue increased 2.9% to £6.96 billion from £6.92 billion, profit declined to £170.8 million from £197.6 million, and diluted earnings per share fell 11.7% to 152.9 pence from 173.2 pence a year ago.
Profit before tax dropped 10.1% to £244.6 million from £272.1 million a year earlier.
The North American market accounted for nearly a quarter of the group's adjusted operating profit in 2024.
The company increased its dividend per share to 70.7 pence from 70.0 pence a year ago, payable on July 4 to shareholders on record as of June 6, and the shares will be marked ex-dividend on June 5.
As of the end of December 2024, the company had distributable dividend reserves of £319.8 million, compared to £474.1 million a year earlier.
Computacenter completed a £200 million share buyback program in October, and the company had distributed almost £1 billion of capital to shareholders since 2013.
The company guided for 2025 central costs, including group-wide investments, to be between £50 million and £55 million, an adjusted effective tax rate between 29.5% and 31.5%, and a dividend cover of 2-2.5x adjusted diluted earnings per share.
In 2024, total central corporate costs increased by 16.2% to £50.9 million from £43.8 million in 2023.
“In 2024, we spent £36.8 million on strategic corporate initiatives as we continued our investment in new systems, toolsets, and cyber resilience. This compared to £28.1 million in 2023, which in turn was almost double the spend in 2022,” the company said in a release to investors.
SThree Plc. eased 0.5% to 275.00 pence after the UK-based specialist staffing company reported lower sales in 2024.
Revenue declined to £1.49 billion from £1.66 billion, profit edged down to £49.69 million from £56.05 million, and diluted earnings per share fell to 37.1 pence from 41.5 pence a year ago.
Same-store sales dropped 8% in the year.
The company proposed a final dividend of 9.2 pence per share for 2024, down from 11.6 pence per share in 2023.
During the year, SThree paid a final dividend of 11.6 pence per share for a total of £15.86 million, compared to 11.0 pence per share for a total of £27.37 million in 2023.
Swatch Group gained 1.3% to CHF 167.00 after the luxury watches and jewelry retailer reported results for 2024.
Net sales dropped to CHF 6.73 billion from CHF 7.89 billion, net income edged down to CHF 193 million from CHF 869 million, and diluted earnings per share fell to CHF 0.75 from CHF 3.35 a year ago.
Net sales in the watches and jewelry segment accounted for CHF 6.41 billion, and the company’s electronic systems division marked CHF 316 million.
Sales in Asia led all other regions with net sales of CHF 3.55 billion, down from CHF 4.43 billion in 2023.
“Demand in China will continue to be rather restrained. The expectation is that the habits and behavior of Chinese consumers will continue to change, which will open up plenty of new opportunities for the strongly positioned brands,” the company said in a release to investors.
The company’s costs for research and development amounted to CHF 273 million in the year, representing 4.1% of net sales, compared to CHF 275 million, or 3.5% of net sales, in 2023.
Swatch proposed a dividend of CHF 0.90 per share for a total of CHF 105 million, compared to a dividend of CHF 1.30 per share for a total of CHF 152 million a year ago.
Essentra Plc. slumped 5.9% to 108.80 pence after the UK-based provider of plastic injection-molded, vinyl-dip-molded, and metal items reported results for 2024.
Revenue declined to £302.4 million from £316.3 million, profit jumped to £10.6 million from £5.4 million, and diluted earnings per share climbed to 3.7 pence from 1.8 pence a year ago.
The company proposed a final dividend of 1.55 pence per share, down from 2.4 pence in 2023, payable on July 3 to shareholders on record as of May 16, with the ex-dividend date on May 15.
Essentra’s share repurchase program announced in February 2023 remains in progress, and as of the end of December 2024, a total of 16,387,728 shares had been purchased at an average price of 176.4 pence per share, totaling £28.9 million.
Of the shares purchased, 4,198,821 were transferred into treasury, and 12,188,907 had subsequently been cancelled, which represented 4.0% of the issued share capital of the company, excluding treasury shares, when the program commenced.
Deezer SA dropped 8% to €1.37 after the music platform operator reported results for 2024.
Revenue increased to €541.71 million from €484.66 million, net loss shrank to €25.89 million from €57.67 million, and diluted loss per share narrowed to 21 cents from a loss of 47 cents a year ago.
- Li Chen
- 20 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong edged lower, and the central bank held its reference rates steady.
The Hang Seng index dropped nearly 2%, and the mainland-focused CSI 300 index declined nearly 1% after the People's Bank of China announced its rate decisions.
The People's Bank of China held steady the 5-year and the 3-year Loan Prime Rate at 3.6% and 3.1%, respectively, dashing hopes of a widely anticipated rate cut.
Market sentiment weakened after investors worried about the lack of improvement in aggregate consumer demand and a lack of progress in implementing previously announced stimulus measures.
Investors sold stocks despite the U.S. Federal Reserve holding its key interest rate range steady, but the central bank signaled the possibility of as many as two additional rate cuts in the year.
Fed Chair Jerome Powell said the impact of tariffs on the U.S. economy is more likely to be "transitory," and the central bank lowered its annual economic growth estimate to 1.7% from 2.1% announced in December.
China Indexes and Stocks
The Hang Seng index declined 1.9% to 24,313.45, and the mainland-focused CSI 300 index fell 0.9% to 3,974.88.
Tencent Holdings decreased 3.5% to HK $520.50, and the parent company of popular chat platform WeChat reported a surge in annual net income, driven by a robust revenue increase in its gaming business.
Revenue increased 11% while net income attributable to shareholders rose 90% from a year ago in 2024.
Ping An Insurance declined 4.5% to HK $49.55, and the mainland-based insurance company reported a 48% increase in annual profit in 2024.
- Li Chen
- 20 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong edged lower, and the central bank held its reference rates steady.
The Hang Seng index dropped nearly 2%, and the mainland-focused CSI 300 index declined nearly 1% after the People's Bank of China announced its rate decisions.
The People's Bank of China held steady the 5-year and the 3-year Loan Prime Rate at 3.6% and 3.1%, respectively, dashing hopes of a widely anticipated rate cut.
Market sentiment weakened after investors worried about the lack of improvement in aggregate consumer demand and a lack of progress in implementing previously announced stimulus measures.
Investors sold stocks despite the U.S. Federal Reserve holding its key interest rate range steady, but the central bank signaled the possibility of as many as two additional rate cuts in the year.
Fed Chair Jerome Powell said the impact of tariffs on the U.S. economy is more likely to be "transitory," and the central bank lowered its annual economic growth estimate to 1.7% from 2.1% announced in December.
China Indexes and Stocks
The Hang Seng index declined 1.9% to 24,313.45, and the mainland-focused CSI 300 index fell 0.9% to 3,974.88.
Tencent Holdings decreased 3.5% to HK $520.50, and the parent company of popular chat platform WeChat reported a surge in annual net income, driven by a robust revenue increase in its gaming business.
Revenue increased 11% while net income attributable to shareholders rose 90% from a year ago in 2024.
Ping An Insurance declined 4.5% to HK $49.55, and the mainland-based insurance company reported a 48% increase in annual profit in 2024.
- Arun Goswami
- 20 Mar, 2025
- Mumbai
D-Link (India) Ltd. rose 1.6% to ₹436 after the networking and connectivity products and solutions provider reported a 13% increase in net income and revenue in the December quarter.
Consolidated revenue advanced to ₹335.4 crore from ₹297.6 crore, net income increased to ₹26.5 crore from ₹23 crore, and diluted earnings per share rose to ₹7.47 from ₹6.46 a year ago.
AkzoNobel India Limited increased 2.3% to ₹3,298.9 after the decorative paints and specialty chemicals maker reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹1,056.5 crore from ₹1,041.1 crore, net income fell to ₹108.6 crore from ₹113.8 crore, and diluted earnings per share declined to ₹23.85 from ₹24.99 a year ago.
Excel Industries Ltd. advanced 1.1% to ₹896.55 after the chemical manufacturer and supplier reported a two-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹201.5 crore from ₹191.3 crore, net income jumped to ₹6.4 crore from ₹2.8 crore, and diluted earnings per share rose to ₹5.09 from ₹2.26 a year ago.
Venkys (India) Ltd. jumped 3.3% to ₹1,604.95 after the integrated poultry company's net income swung to a profit in the December quarter.
Consolidated revenue declined to ₹893.4 crore from ₹963 crore, net income swung to a profit of ₹20.4 crore from a loss of ₹8 crore, and diluted earnings per share rose to an income of ₹14.47 from a loss of ₹5.63 a year ago.
Om Infra Limited gained 1.6% to ₹118.40 despite the company reported a 25% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹145.4 crore from ₹291.1 crore, net income fell to ₹4.6 crore from ₹6.1 crore, and diluted earnings per share declined to 47 paisa from 59 paisa a year ago.
Gloster Ltd. edged higher 3.8% to ₹601.95 after jute manufacturing reported a slight increase in revenue and a 62% plunge from a year ago in quarterly profit.
Consolidated revenue advanced to ₹184.6 crore from ₹140.9 crore, net income dropped to ₹0.83 crore from ₹2.2 crore, and diluted earnings per share fell to 76 paisa from ₹1.99 a year ago.
Gillanders Arbuthnot & Co. Ltd. inched higher 2.5% to ₹97.65 after the multi-divisional pan-Indian company’s net income swung to a profit in the December quarter.
Consolidated revenue declined to ₹128.8 crore from ₹130.3 crore, net income swung to a profit of ₹13 crore from a loss of ₹22.3 crore, and diluted earnings per share rose to an income of ₹6.11 from a loss of ₹10.47 a year ago.
Bajaj Hindusthan Sugar Limited decreased 0.4% to ₹20.38 after the sugar and ethanol maker swung to a loss in the December quarter.
Consolidated revenue declined to ₹1,467.8 crore from ₹1,733.2 crore, net losses swung to ₹99.3 crore from a profit of ₹19.4 crore, and diluted earnings per share swung to a loss of 80 paise from a profit of 16 paise a year ago.
- Arun Goswami
- 20 Mar, 2025
- Mumbai
D-Link (India) Ltd. rose 1.6% to ₹436 after the networking and connectivity products and solutions provider reported a 13% increase in net income and revenue in the December quarter.
Consolidated revenue advanced to ₹335.4 crore from ₹297.6 crore, net income increased to ₹26.5 crore from ₹23 crore, and diluted earnings per share rose to ₹7.47 from ₹6.46 a year ago.
AkzoNobel India Limited increased 2.3% to ₹3,298.9 after the decorative paints and specialty chemicals maker reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹1,056.5 crore from ₹1,041.1 crore, net income fell to ₹108.6 crore from ₹113.8 crore, and diluted earnings per share declined to ₹23.85 from ₹24.99 a year ago.
Excel Industries Ltd. advanced 1.1% to ₹896.55 after the chemical manufacturer and supplier reported a two-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹201.5 crore from ₹191.3 crore, net income jumped to ₹6.4 crore from ₹2.8 crore, and diluted earnings per share rose to ₹5.09 from ₹2.26 a year ago.
Venkys (India) Ltd. jumped 3.3% to ₹1,604.95 after the integrated poultry company's net income swung to a profit in the December quarter.
Consolidated revenue declined to ₹893.4 crore from ₹963 crore, net income swung to a profit of ₹20.4 crore from a loss of ₹8 crore, and diluted earnings per share rose to an income of ₹14.47 from a loss of ₹5.63 a year ago.
Om Infra Limited gained 1.6% to ₹118.40 despite the company reported a 25% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹145.4 crore from ₹291.1 crore, net income fell to ₹4.6 crore from ₹6.1 crore, and diluted earnings per share declined to 47 paisa from 59 paisa a year ago.
Gloster Ltd. edged higher 3.8% to ₹601.95 after jute manufacturing reported a slight increase in revenue and a 62% plunge from a year ago in quarterly profit.
Consolidated revenue advanced to ₹184.6 crore from ₹140.9 crore, net income dropped to ₹0.83 crore from ₹2.2 crore, and diluted earnings per share fell to 76 paisa from ₹1.99 a year ago.
Gillanders Arbuthnot & Co. Ltd. inched higher 2.5% to ₹97.65 after the multi-divisional pan-Indian company’s net income swung to a profit in the December quarter.
Consolidated revenue declined to ₹128.8 crore from ₹130.3 crore, net income swung to a profit of ₹13 crore from a loss of ₹22.3 crore, and diluted earnings per share rose to an income of ₹6.11 from a loss of ₹10.47 a year ago.
Bajaj Hindusthan Sugar Limited decreased 0.4% to ₹20.38 after the sugar and ethanol maker swung to a loss in the December quarter.
Consolidated revenue declined to ₹1,467.8 crore from ₹1,733.2 crore, net losses swung to ₹99.3 crore from a profit of ₹19.4 crore, and diluted earnings per share swung to a loss of 80 paise from a profit of 16 paise a year ago.
- Barry Adams
- 19 Mar, 2025
- New York City
Market sentiment on Wall Street improved ahead of the Federal Reserve's rate decisions later in the day.
The S&P 500 index gained 0.7%, and the Nasdaq Composite advanced 0.9%, with investors widely anticipating the Federal Reserve to hold its interest rate range unrevised after a two-day policy meeting later in the day.
The Federal Reserve is scheduled to announce its decision at 2:00 p.m. ET and release projections on interest rates and estimates on economic growth, the jobless rate, and inflation.
Investors have lowered their future rate cut expectations to 2 from 4 amid the Trump administration's trade policy uncertainty and worries of resurgent inflation.
Benchmark indexes resumed selling on Tuesday after rising in the previous two sessions, as investors grapple with softer economic data and the chaotic start of the Trump administration and self-inflicted tariff war to finance tax cuts for the wealthy.
The S&P 500 index entered into correction territory, and the Nasdaq Composite deepened losses into correction—reflecting losses of 10% or more from its recent highs.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,637.85, the Nasdaq Composite edged up 0.6% to 17,604.72, and the Russell 2000 index was up 0.3% to 2,055.24.
The yield on 2-year Treasury notes edged higher to 4.09%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.59%.
WTI crude oil decreased by $0.18 to $66.71 a barrel, and natural gas prices edged higher by $0.09 to $4.14 a thermal unit.
Gold decreased by $2.56 to $3,028.79 an ounce, and silver edged down by $0.35 to $33.61.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.42 to 103.66 and traded at a two-year high.
U.S. Movers
General Mills Inc. declined 2.8% to $58.73, and the food product maker reported weaker-than-expected third-quarter revenue, and the company lowered its full-year outlook.
HealthEquity Inc. plunged 20% to $80.94, and the health expense-focused account management company reported weaker-than-expected fourth quarter results.
Boeing Company gained 6.4% to $171.79 after the chief financial officer said cash burn is easing in an interview with CNBC.
- Barry Adams
- 19 Mar, 2025
- New York City
Market sentiment on Wall Street improved ahead of the Federal Reserve's rate decisions later in the day.
The S&P 500 index gained 0.7%, and the Nasdaq Composite advanced 0.9%, with investors widely anticipating the Federal Reserve to hold its interest rate range unrevised after a two-day policy meeting later in the day.
The Federal Reserve is scheduled to announce its decision at 2:00 p.m. ET and release projections on interest rates and estimates on economic growth, the jobless rate, and inflation.
Investors have lowered their future rate cut expectations to 2 from 4 amid the Trump administration's trade policy uncertainty and worries of resurgent inflation.
Benchmark indexes resumed selling on Tuesday after rising in the previous two sessions, as investors grapple with softer economic data and the chaotic start of the Trump administration and self-inflicted tariff war to finance tax cuts for the wealthy.
The S&P 500 index entered into correction territory, and the Nasdaq Composite deepened losses into correction—reflecting losses of 10% or more from its recent highs.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,637.85, the Nasdaq Composite edged up 0.6% to 17,604.72, and the Russell 2000 index was up 0.3% to 2,055.24.
The yield on 2-year Treasury notes edged higher to 4.09%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.59%.
WTI crude oil decreased by $0.18 to $66.71 a barrel, and natural gas prices edged higher by $0.09 to $4.14 a thermal unit.
Gold decreased by $2.56 to $3,028.79 an ounce, and silver edged down by $0.35 to $33.61.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.42 to 103.66 and traded at a two-year high.
U.S. Movers
General Mills Inc. declined 2.8% to $58.73, and the food product maker reported weaker-than-expected third-quarter revenue, and the company lowered its full-year outlook.
HealthEquity Inc. plunged 20% to $80.94, and the health expense-focused account management company reported weaker-than-expected fourth quarter results.
Boeing Company gained 6.4% to $171.79 after the chief financial officer said cash burn is easing in an interview with CNBC.