- 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.
- Bridgette Randall
- 19 Mar, 2025
- London
European markets rested after advancing in the previous session following a historic constitutional amendment in Germany and Ukraine ceasefire talks.
Benchmark indexes in Frankfurt, Paris and Milan traded around the flatline as investors reviewed the details of the debt brake revision in Germany.
Late Tuesday, Germany's Bundestag approved a measure to exclude defense spending from the structural deficit calculation, allowing the new coalition government to ramp up arms spending without any upper limit.
German coalition government is likely to increase defense spending from the current 0.35% to as high as 3.5% of GDP, starting from the current fiscal year.
The presumed German Chancellor, Friedrich Merz, announced a €500 billion fund to invest in replacing Germany's ageing infrastructure fund, after an agreement with the Green Pary to dedicated about €100 billion in climate control related investments.
The debt brake revision provides a much needed shot to revive economic growth, support the European Union's efforts in Ukraine, and improve Europe's military security.
The Bundesrat, the upper house of the parliament, is scheduled to approve the landmark bill on Friday.
Ukraine and Russian ramped up militarty atacks after Russia agreed to a temporary halt on attacks on energy and other vital infrastrucure in Ukraine, after leaders of Russia and the U.S. held formal talks on Tuesday.
On the economic front, the Euro Area wage growth in the fourth quarter of 2024 slowed to an annual 4.1% from the downwardly revised 4.3% in the third quarter, Eurostat reported on Wednesday.
Wage growth in France eased to 1.7% from 2.7%, in Spain to 3.2% from 4.9%, and in Belgium to 2.2% from 2.6%, but accelerated in the Netherlands to 6.2% from 5.9%, in Germany o 4.4% from 4.0%, and Ireland to 5.4% from 5.2% in the third quarter, respectively.
However, wage growth in Italy was steady at 4.3%.
Europe Movers
Eseentra plc dropped 5.5% to 109.33 pence, and the essential product maker reported a decline in organic sales growth in 2024.
Vonovia SE dropped 1.7% to €25.08, and the German real estate developer reported a narrower loss in the fiscal 2024.
Rio Tinto plc decreased 0.1% to 4,903.0 pence, and the company's management urged shareholders to vote against the proposal by a hedge fund to review company's dual listing in London and Sydney.
Traton SE dropped 5.5% to €33.70 after the parent company Volkswagen AG said it sold 2.2% stake in the commercial vehicle maker for €360 million.
- Bridgette Randall
- 19 Mar, 2025
- London
European markets rested after advancing in the previous session following a historic constitutional amendment in Germany and Ukraine ceasefire talks.
Benchmark indexes in Frankfurt, Paris and Milan traded around the flatline as investors reviewed the details of the debt brake revision in Germany.
Late Tuesday, Germany's Bundestag approved a measure to exclude defense spending from the structural deficit calculation, allowing the new coalition government to ramp up arms spending without any upper limit.
German coalition government is likely to increase defense spending from the current 0.35% to as high as 3.5% of GDP, starting from the current fiscal year.
The presumed German Chancellor, Friedrich Merz, announced a €500 billion fund to invest in replacing Germany's ageing infrastructure fund, after an agreement with the Green Pary to dedicated about €100 billion in climate control related investments.
The debt brake revision provides a much needed shot to revive economic growth, support the European Union's efforts in Ukraine, and improve Europe's military security.
The Bundesrat, the upper house of the parliament, is scheduled to approve the landmark bill on Friday.
Ukraine and Russian ramped up militarty atacks after Russia agreed to a temporary halt on attacks on energy and other vital infrastrucure in Ukraine, after leaders of Russia and the U.S. held formal talks on Tuesday.
On the economic front, the Euro Area wage growth in the fourth quarter of 2024 slowed to an annual 4.1% from the downwardly revised 4.3% in the third quarter, Eurostat reported on Wednesday.
Wage growth in France eased to 1.7% from 2.7%, in Spain to 3.2% from 4.9%, and in Belgium to 2.2% from 2.6%, but accelerated in the Netherlands to 6.2% from 5.9%, in Germany o 4.4% from 4.0%, and Ireland to 5.4% from 5.2% in the third quarter, respectively.
However, wage growth in Italy was steady at 4.3%.
Europe Movers
Eseentra plc dropped 5.5% to 109.33 pence, and the essential product maker reported a decline in organic sales growth in 2024.
Vonovia SE dropped 1.7% to €25.08, and the German real estate developer reported a narrower loss in the fiscal 2024.
Rio Tinto plc decreased 0.1% to 4,903.0 pence, and the company's management urged shareholders to vote against the proposal by a hedge fund to review company's dual listing in London and Sydney.
Traton SE dropped 5.5% to €33.70 after the parent company Volkswagen AG said it sold 2.2% stake in the commercial vehicle maker for €360 million.
- Akira Ito
- 19 Mar, 2025
- Tokyo
Japan's stock market indexes traded in a tight range as investors reviewed monetary policy decisions and an international trade balance update.
The Nikkei 225 stock average closed down 0.3%, and the broader TOPIX added 0.5% after two benchmark indexes diverged.
BoJ Holds Rates Steady, Citing Global Trade Uncertainties
The Bank of Japan held its short-term interest rate around 0.5%, as widely anticipated, and the central bank halted its rate hike after lifting rates in three previous meetings.
The monetary policy committee took a cautious view of Japan's export-driven economy amid rising trade tensions with the U.S. and slowing economic growth in China.
The committee noted that private consumption continued to advance, driven by an increase in wages despite rising cost pressures, but exports and industrial output lacked momentum and were nearly unchanged.
The annual rate of inflation ranged between 3% and 3.5%, largely because of a jump in prices for services, and underlying retail inflation is expected to grow at a moderate pace in the months ahead.
The yield on 10-year Japanese government bonds was nearly unchanged at 1.5% after the Bank of Japan's widely anticipated rate decisions.
Japan's Trade Balance Swings to Surplus in February
On the economic front, Japan's trade balance swung to a surplus after exports advanced in February. Exports may have been benefitted because of front loading by customers ahead of higher tariffs in the U.S.
Japan’s trade balance swung to a surplus of 584.5 billion yen in February from a deficit of 415.43 billion in the same month a year earlier.
The rebound in exports by 11.4% to 9.2 trillion yen, the fastest increase since May 2024, drove the reversal in the trade balance.
Exports to the U.S. increased 10.5%, and to China, they advanced 14.1%, according to the data released by the Ministry of Finance.
Shipments to China may have been positively affected by the calendar shift of the Lunar New Year holiday ending earlier than usual.
The yen weakened an average of 4.3% from a year ago to 154.61 against the dollar in February, the Finance Ministry said.
However, imports declined by 0.7% to 8.6 trillion, marking the first contraction since November.
This decline followed a strong 16.2% jump in January, the largest increase in nearly two years.
Japan's trade gap with the U.S. rose 29% to 918.8 billion yen, driven in part by a 14% rise in automobile exports, which is likely to cause the Trump administration to demand more actions from the Japanese government to address the persistent trade deficit.
In 2024, Japan recorded a trade deficit of 5.3 trillion yen, significantly narrower than the 9.5 trillion yen shortfall in the previous year.
Japan Indexes and Movers
The Nikkei 225 Stock Average decreased 0.3% to 37,751.88, and the broader TOPIX added 0.5% to 2,795.96.
Trading houses were among the most actively traded stocks in Tokyo for the second day in a row after Berkshire Hathaway increased its stakes in five leading companies between 8.5% and 9.8%.
Mitsui & Co. Ltd. increased 2.9% to ¥2,977.0, Sumitomo Corp. advanced 1.1% to ¥3,658.0, Marubeni Corp. gained 2.5% to ¥2,588.50, Itochu Corp. jumped 3.9% to ¥7,393.0, and Mitsubishi edged up 3% to ¥2,824.50.
Berkshire acquired initial stakes in five trading houses in mid-2019 at an aggregate cost of $13.8 billion, which had a market value of $23.5 billion at the end of 2024, according to company's regulatory filings.
On Thursday, Japanese markets will be closed for the Vernal Equinox holiday.
- Akira Ito
- 19 Mar, 2025
- Tokyo
Japan's stock market indexes traded in a tight range as investors reviewed monetary policy decisions and an international trade balance update.
The Nikkei 225 stock average closed down 0.3%, and the broader TOPIX added 0.5% after two benchmark indexes diverged.
BoJ Holds Rates Steady, Citing Global Trade Uncertainties
The Bank of Japan held its short-term interest rate around 0.5%, as widely anticipated, and the central bank halted its rate hike after lifting rates in three previous meetings.
The monetary policy committee took a cautious view of Japan's export-driven economy amid rising trade tensions with the U.S. and slowing economic growth in China.
The committee noted that private consumption continued to advance, driven by an increase in wages despite rising cost pressures, but exports and industrial output lacked momentum and were nearly unchanged.
The annual rate of inflation ranged between 3% and 3.5%, largely because of a jump in prices for services, and underlying retail inflation is expected to grow at a moderate pace in the months ahead.
The yield on 10-year Japanese government bonds was nearly unchanged at 1.5% after the Bank of Japan's widely anticipated rate decisions.
Japan's Trade Balance Swings to Surplus in February
On the economic front, Japan's trade balance swung to a surplus after exports advanced in February. Exports may have been benefitted because of front loading by customers ahead of higher tariffs in the U.S.
Japan’s trade balance swung to a surplus of 584.5 billion yen in February from a deficit of 415.43 billion in the same month a year earlier.
The rebound in exports by 11.4% to 9.2 trillion yen, the fastest increase since May 2024, drove the reversal in the trade balance.
Exports to the U.S. increased 10.5%, and to China, they advanced 14.1%, according to the data released by the Ministry of Finance.
Shipments to China may have been positively affected by the calendar shift of the Lunar New Year holiday ending earlier than usual.
The yen weakened an average of 4.3% from a year ago to 154.61 against the dollar in February, the Finance Ministry said.
However, imports declined by 0.7% to 8.6 trillion, marking the first contraction since November.
This decline followed a strong 16.2% jump in January, the largest increase in nearly two years.
Japan's trade gap with the U.S. rose 29% to 918.8 billion yen, driven in part by a 14% rise in automobile exports, which is likely to cause the Trump administration to demand more actions from the Japanese government to address the persistent trade deficit.
In 2024, Japan recorded a trade deficit of 5.3 trillion yen, significantly narrower than the 9.5 trillion yen shortfall in the previous year.
Japan Indexes and Movers
The Nikkei 225 Stock Average decreased 0.3% to 37,751.88, and the broader TOPIX added 0.5% to 2,795.96.
Trading houses were among the most actively traded stocks in Tokyo for the second day in a row after Berkshire Hathaway increased its stakes in five leading companies between 8.5% and 9.8%.
Mitsui & Co. Ltd. increased 2.9% to ¥2,977.0, Sumitomo Corp. advanced 1.1% to ¥3,658.0, Marubeni Corp. gained 2.5% to ¥2,588.50, Itochu Corp. jumped 3.9% to ¥7,393.0, and Mitsubishi edged up 3% to ¥2,824.50.
- Li Chen
- 19 Mar, 2025
- Hong Kong
Stock market indexes in China and Hong Kong meandered around the flatline, and investors prepared to review a flood of earnings results from leading companies this week.
The Hang Seng index closed up 0.1%, and the mainland-focused CSI 300 index edged up 0.06%, ahead of earnings from Tencent Holdings.
Investors are awaiting earnings results from several leading companies, including results from Ping An Insurance, Geely Automotive, FILA Holdings, ANTA Sports, and Longfor Group.
The Hang Seng index has rebounded over the last six weeks and extended 2025 gains to lead world market indexes amid hopes that Chinese companies' earnings growth is likely to surpass low market expectations.
Moreover, leading tech companies Tencent Holdings, Alibaba Group, JD.com, and Baidu.com are likely to benefit from affordable access to artificial intelligence technology infrastructure developed by DeepSeek.
China's semiconductor companies are expected to develop homegrown chip design and manufacturing processes to build servers capable of handling queries for artificial intelligence applications.
Hong Kong investors awaited monetary policy decisions and economic projections from the U.S. Federal Reserve later today, and the central bank is expected to hold steady its fed funds rate range between 4.25% and 4.50%.
Investors have lowered expectations of additional rate cuts to two from four at the end of last year, after the Trump administration slapped tariffs on key trading partners China, Mexico, Canada, and the European Union.
China Indexes and Stocks
The Hang Seng index added 0.1% to 24,774.02, and the mainland-focused CSI 300 index increased 0.1% to 4,010.17.
Tencent Holdings Ltd. increased 0.2% to HK $542.0, Baidu Inc. declined 4% to HK $99.20, and Alibaba Group Holding declined 1.5% to HK $141.20.
China Vanke Co. Ltd. increased 0.5% to HK $6.17, Longfor Group Holdings Ltd. decreased 0.9% to HK $10.92, and Henderson Land Development advanced 0.4% to HK $23.20.