- Alexander Garcia
- 19 Feb, 2025
- Miami
Wall Street indexes wavered around the flatline, and the S&P 500 index scaled a new intraday record high.
The S&P 500 index declined 0.02%, and the Nasdaq Composite fell 0.01%, amid a lack of catalysts as investors reviewed a fresh batch of earnings.
Investors reacted to the latest results from Toll Brothers, Expeditors International, Cadence Design Systems, Arista Network, and Toro Corp.
Amid a busy season of earnings, on Thursday investors are looking forward to results from Carvana, Garmin, Wix.com, Walmart, Alibaba Group, Copart, Booking.com, and Akamai Technologies.
Investors have overlooked brewing tariff flip-flops and rising geopolitical tension, and they have remained focused on the positive macroeconomic backdrop and positive outlook for corporate earnings.
Moreover, investors are still factoring in as many as three or four rate cuts in 2025, despite the latest blip in a rebound in inflation.
U.S. housing starts slumped on a monthly basis in January and fell a little on an annual basis.
Housing starts declined to a seasonally adjusted 1.366 million, a decline of 9.8% from the previous month's revised 1.51 million and 0.4% below from last year's 1.376 million.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.2% to 6,117.90, the Nasdaq Composite edged down 0.2% to 19,993.24, and the Russell 2000 index was down 0.7% to 2,274.85.
The yield on 2-year Treasury notes edged lower to 4.31%, 10-year Treasury notes increased to 4.57%, and 30-year Treasury bonds climbed to 4.80%.
WTI crude oil increased $1.03 to $72.86 a barrel, and natural gas prices edged higher by $0.16 to $4.18 a thermal unit.
Gold increased by $0.73 to 2,934.62 an ounce, and silver edged down by $0.25 to $32.64.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.08 to 107.14 and traded at a two-year high.
Stock Movers
Capital One Financial increased 1.3% to $205.51, and Discover Financial edged up 0.4% to $196.55, and the two companies won approvals from their shareholders for their merger plan.
Bumble Inc. plunged 20% to $6.47 after the online dating site's forward-looking guidance disappointed some investors.
Toll Brothers dropped 6% to $114.49, and the luxury home builder reported weaker-than-expected fiscal first quarter results.
Nikola Corp. plunged 49% to $0.39, and the electric vehicle maker filed for Chapter 11 bankruptcy protection from creditors.
Eurozone Bond Yields Advanced Fourth Consecutive Day, UK Inflation Accelerated In January
Stock market indexes turned sharply lower in the European Union amid growing tariff threats and economic uncertainty.
Benchmark indexes in Frankfurt and Paris eased from the highs in the previous session, and market enthusiasm waned after bond yields advanced for the fourth consecutive session.
Investors were on the backfoot after the U.S. stepped up tariff threats, and the Trump administration reiterated imposing additional "reciprocal tariffs" covering all imports.
The noise of tariffs, or import taxes, has weighed on the market for the last three weeks, as the incoming U.S. presidential administration stakes out a negotiating position with the European Union and adds pressure to buy LNG gas and other agricultural products from U.S. suppliers.
The U.K.'s consumer price inflation accelerated to 3.0% in January from 2.5% in December, the Office of National Statistics reported Wednesday.
The rebound in inflation was the fastest since March 2024, driven in large part by the increase in transportation costs and select food items.
Europe Indexes and Yields
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
The euro decreased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.45 Swiss cents.
Brent crude increased $0.51 to $76.32 a barrel, and the Dutch TTF natural gas was lower by €0.49 to €49.38 per MWh.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
China Tech Rally Hits Valuation Wall, Home Prices Extended Losses In January
Stock market indexes in China and Hong Kong struggled to make headway after the artificial intelligence euphoria-driven rally faltered.
The Hang Seng index decreased 0.3%, and the CSI 300 index edged higher in volatile trading.
Tech stocks focused Hang Seng Tech index hovered near a five-year high after Baidu reported a 2% decline in annual revenue.
Investors feared that the latest rally over the last five weeks may have run out of steam after valuations surged to a five-month high.
Market participants bid up tech stocks in the hope that the affordable, artificial intelligence-driven chatbot Deep Seek could spark another wave of earnings growth for the leading tech companies.
However, Alibaba Group and Baidu Inc, the two main components of the tech index turned lower, sapping the market sentiment.
Moreover, property developers remained in focus after home prices continued to decline in January.
New home prices in first-tier cities declined 3.4% from a year ago in January, the National Bureau of Statistics said on Wednesday.
The prices in four main cities—Beijing, Shanghai, Shenzhen, and Guangzhou—fell at a slower pace from the fall of 3.8% in December.
Prices in the second- and third-tier cities decreased at a 5% and 6% annual pace, respectively.
Existing home prices in the top-tier cities declined 5.6% in January, and fell 7.6% in second-tier and 8.2% in third-tier cities.
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 22,911.93, and the mainland China-focused CSI 300 index jumped 0.7% to 3,940.16.
Baidu Inc. declined 2% to HK $88.35 after the search engine company reported weaker-than-expected 2024 results.
Revenue declined to RMB 19.34 billion from RMB 20.80 billion, net income increased to RMB 5.19 billion from RMB 2.60 billion, and earnings per diluted share rose to RMB 1.78 from 85 cents a year ago.
The company returned $356 million to shareholders in the quarter, bringing total repurchases to over $1 billion in 2024.
The company’s core business struggled, with online marketing revenue declining 7% from the same quarter last year, despite diversification efforts.
External ERNIE API calls marked a 178% increase, signaling a growing enterprise adoption.
China Vanke rose 2.4% to HK $5.93, Longfor Group Holdings advanced 0.8% to HK $10.20, and Sun Hung Kai Properties gained 0.4% to HK $70.80.
HSBC Holdings plc increased 1.2% to HK $88.40, and the Hong Kong and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
- Alexander Garcia
- 19 Feb, 2025
- Miami
Wall Street indexes wavered around the flatline, and the S&P 500 index scaled a new intraday record high.
The S&P 500 index declined 0.02%, and the Nasdaq Composite fell 0.01%, amid a lack of catalysts as investors reviewed a fresh batch of earnings.
Investors reacted to the latest results from Toll Brothers, Expeditors International, Cadence Design Systems, Arista Network, and Toro Corp.
Amid a busy season of earnings, on Thursday investors are looking forward to results from Carvana, Garmin, Wix.com, Walmart, Alibaba Group, Copart, Booking.com, and Akamai Technologies.
Investors have overlooked brewing tariff flip-flops and rising geopolitical tension, and they have remained focused on the positive macroeconomic backdrop and positive outlook for corporate earnings.
Moreover, investors are still factoring in as many as three or four rate cuts in 2025, despite the latest blip in a rebound in inflation.
U.S. housing starts slumped on a monthly basis in January and fell a little on an annual basis.
Housing starts declined to a seasonally adjusted 1.366 million, a decline of 9.8% from the previous month's revised 1.51 million and 0.4% below from last year's 1.376 million.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.2% to 6,117.90, the Nasdaq Composite edged down 0.2% to 19,993.24, and the Russell 2000 index was down 0.7% to 2,274.85.
The yield on 2-year Treasury notes edged lower to 4.31%, 10-year Treasury notes increased to 4.57%, and 30-year Treasury bonds climbed to 4.80%.
WTI crude oil increased $1.03 to $72.86 a barrel, and natural gas prices edged higher by $0.16 to $4.18 a thermal unit.
Gold increased by $0.73 to 2,934.62 an ounce, and silver edged down by $0.25 to $32.64.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.08 to 107.14 and traded at a two-year high.
Stock Movers
Capital One Financial increased 1.3% to $205.51, and Discover Financial edged up 0.4% to $196.55, and the two companies won approvals from their shareholders for their merger plan.
Bumble Inc. plunged 20% to $6.47 after the online dating site's forward-looking guidance disappointed some investors.
Toll Brothers dropped 6% to $114.49, and the luxury home builder reported weaker-than-expected fiscal first quarter results.
Nikola Corp. plunged 49% to $0.39, and the electric vehicle maker filed for Chapter 11 bankruptcy protection from creditors.
Eurozone Bond Yields Advanced Fourth Consecutive Day, UK Inflation Accelerated In January
Stock market indexes turned sharply lower in the European Union amid growing tariff threats and economic uncertainty.
Benchmark indexes in Frankfurt and Paris eased from the highs in the previous session, and market enthusiasm waned after bond yields advanced for the fourth consecutive session.
Investors were on the backfoot after the U.S. stepped up tariff threats, and the Trump administration reiterated imposing additional "reciprocal tariffs" covering all imports.
The noise of tariffs, or import taxes, has weighed on the market for the last three weeks, as the incoming U.S. presidential administration stakes out a negotiating position with the European Union and adds pressure to buy LNG gas and other agricultural products from U.S. suppliers.
The U.K.'s consumer price inflation accelerated to 3.0% in January from 2.5% in December, the Office of National Statistics reported Wednesday.
The rebound in inflation was the fastest since March 2024, driven in large part by the increase in transportation costs and select food items.
Europe Indexes and Yields
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
The euro decreased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.45 Swiss cents.
Brent crude increased $0.51 to $76.32 a barrel, and the Dutch TTF natural gas was lower by €0.49 to €49.38 per MWh.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
China Tech Rally Hits Valuation Wall, Home Prices Extended Losses In January
Stock market indexes in China and Hong Kong struggled to make headway after the artificial intelligence euphoria-driven rally faltered.
The Hang Seng index decreased 0.3%, and the CSI 300 index edged higher in volatile trading.
Tech stocks focused Hang Seng Tech index hovered near a five-year high after Baidu reported a 2% decline in annual revenue.
Investors feared that the latest rally over the last five weeks may have run out of steam after valuations surged to a five-month high.
Market participants bid up tech stocks in the hope that the affordable, artificial intelligence-driven chatbot Deep Seek could spark another wave of earnings growth for the leading tech companies.
However, Alibaba Group and Baidu Inc, the two main components of the tech index turned lower, sapping the market sentiment.
Moreover, property developers remained in focus after home prices continued to decline in January.
New home prices in first-tier cities declined 3.4% from a year ago in January, the National Bureau of Statistics said on Wednesday.
The prices in four main cities—Beijing, Shanghai, Shenzhen, and Guangzhou—fell at a slower pace from the fall of 3.8% in December.
Prices in the second- and third-tier cities decreased at a 5% and 6% annual pace, respectively.
Existing home prices in the top-tier cities declined 5.6% in January, and fell 7.6% in second-tier and 8.2% in third-tier cities.
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 22,911.93, and the mainland China-focused CSI 300 index jumped 0.7% to 3,940.16.
Baidu Inc. declined 2% to HK $88.35 after the search engine company reported weaker-than-expected 2024 results.
Revenue declined to RMB 19.34 billion from RMB 20.80 billion, net income increased to RMB 5.19 billion from RMB 2.60 billion, and earnings per diluted share rose to RMB 1.78 from 85 cents a year ago.
The company returned $356 million to shareholders in the quarter, bringing total repurchases to over $1 billion in 2024.
The company’s core business struggled, with online marketing revenue declining 7% from the same quarter last year, despite diversification efforts.
External ERNIE API calls marked a 178% increase, signaling a growing enterprise adoption.
China Vanke rose 2.4% to HK $5.93, Longfor Group Holdings advanced 0.8% to HK $10.20, and Sun Hung Kai Properties gained 0.4% to HK $70.80.
HSBC Holdings plc increased 1.2% to HK $88.40, and the Hong Kong and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
- Scott Peters
- 19 Feb, 2025
- New York City
Medtronic Plc. gained 0.3% to $86.30 after the American-Irish medical device company reported results for the fiscal 2025 third quarter.
Revenue increased 2.5% to $8.29 billion from $8.09 billion, net income dropped to $1.29 billion from $1.32 billion, and diluted earnings per share rose to $1.01 from 99 cents a year ago.
Sales in the cardiovascular, medical surgical, and diabetes segments marked a steady growth in the quarter, while the neuroscience segment dropped 3.7% to $769 million from $799 million in the same period last year.
For the full year, Medtronic estimated non-GAAP earnings growth between 4.6% and 5.8% in the range of $5.44 to $5.50 per share.
Toll Brothers Inc. plunged 5.8% to $115 after the homebuilding company missed earnings estimates in the first quarter of 2025, which ended on January 31.
Revenue declined to $1.86 billion from $1.95 billion, net income dropped to $177.70 million from $239.56 million, and earnings per diluted share fell to $1.75 from $2.25 a year ago.
The company repurchased approximately 0.2 million shares in the quarter, at an average price of $127.02 per share for a total purchase price of $23.7 million.
Arista Networks Inc. dropped 4.6% to $106 despite the computer networking company reporting revenue growth in the fourth quarter of 2024.
Revenue increased to $1.93 billion from $1.54 billion, net income jumped to $800.99 million from $613.64 million, and earnings per diluted share rose to 62 cents from 48 cents a year ago.
For the first quarter of 2025, the company estimated revenue between $1.93 billion and $1.97 billion, compared to $1.57 billion a year ago.
Toro Corp. gained 0.4% to $2.67 after the lawn equipment provider reported higher sales in the fourth quarter ended in December.
Net sales jumped 9% to $1.08 billion from $983.2 million, earnings climbed to $89.9 million from $70.3 million, and diluted earnings per share rose to 87 cents from 67 cents a year ago.
For fiscal 2025, the company estimated net sales growth in the range of zero to 1% and adjusted earnings per diluted share between $4.25 and $4.40, compared to $4.17 a year ago.
Expeditors International of Washington Inc. gained 3.8% to $118.03 after the logistics company reported strong earnings for the fourth quarter ended in December.
Revenue jumped 30% to $2.95 billion from $2.28 billion, net income climbed 49% to $235.88 million from $158.72 million, and earnings per diluted share rose 54% to $1.68 from $1.09 a year ago.
During the three and twelve months ended December 31, the company repurchased 2.0 million and 7.1 million shares of common stock at an average price of $120.14 and $119.47 per share, respectively.
Expeditors repurchased an additional 1.6 million and 12.1 million shares during the three and twelve months, at an average price of $119.22 and $114.68 per share, respectively.
In addition, during 2024 and 2023, the company paid cash dividends of $1.46 and $1.38 per share, respectively.
Cadence Design Systems Inc. dropped 3.9% to $288.65 despite the automation software provider reporting steady revenue growth in the fourth quarter ended in December.
Revenue climbed to $1.35 billion from $1.07 billion, net income increased to $340.21 million from $323.89 million, and earnings per diluted share rose to $1.24 from $1.19 a year ago.
For the first quarter of 2025, the company estimated diluted net income per share on a non-GAAP basis between $1.46 and $1.52, compared to $1.17 in the same period last year, and net income between $402 million and $419 million on a non-GAAP basis, compared to $318.88 million a year ago.
The company also estimated revenue in the first quarter between $1.23 billion and $1.25 billion, compared to $1.01 billion in the same quarter last year.
- Scott Peters
- 19 Feb, 2025
- New York City
Medtronic Plc. gained 0.3% to $86.30 after the American-Irish medical device company reported results for the fiscal 2025 third quarter.
Revenue increased 2.5% to $8.29 billion from $8.09 billion, net income dropped to $1.29 billion from $1.32 billion, and diluted earnings per share rose to $1.01 from 99 cents a year ago.
Sales in the cardiovascular, medical surgical, and diabetes segments marked a steady growth in the quarter, while the neuroscience segment dropped 3.7% to $769 million from $799 million in the same period last year.
For the full year, Medtronic estimated non-GAAP earnings growth between 4.6% and 5.8% in the range of $5.44 to $5.50 per share.
Toll Brothers Inc. plunged 5.8% to $115 after the homebuilding company missed earnings estimates in the first quarter of 2025, which ended on January 31.
Revenue declined to $1.86 billion from $1.95 billion, net income dropped to $177.70 million from $239.56 million, and earnings per diluted share fell to $1.75 from $2.25 a year ago.
The company repurchased approximately 0.2 million shares in the quarter, at an average price of $127.02 per share for a total purchase price of $23.7 million.
Arista Networks Inc. dropped 4.6% to $106 despite the computer networking company reporting revenue growth in the fourth quarter of 2024.
Revenue increased to $1.93 billion from $1.54 billion, net income jumped to $800.99 million from $613.64 million, and earnings per diluted share rose to 62 cents from 48 cents a year ago.
For the first quarter of 2025, the company estimated revenue between $1.93 billion and $1.97 billion, compared to $1.57 billion a year ago.
Toro Corp. gained 0.4% to $2.67 after the lawn equipment provider reported higher sales in the fourth quarter ended in December.
Net sales jumped 9% to $1.08 billion from $983.2 million, earnings climbed to $89.9 million from $70.3 million, and diluted earnings per share rose to 87 cents from 67 cents a year ago.
For fiscal 2025, the company estimated net sales growth in the range of zero to 1% and adjusted earnings per diluted share between $4.25 and $4.40, compared to $4.17 a year ago.
Expeditors International of Washington Inc. gained 3.8% to $118.03 after the logistics company reported strong earnings for the fourth quarter ended in December.
Revenue jumped 30% to $2.95 billion from $2.28 billion, net income climbed 49% to $235.88 million from $158.72 million, and earnings per diluted share rose 54% to $1.68 from $1.09 a year ago.
During the three and twelve months ended December 31, the company repurchased 2.0 million and 7.1 million shares of common stock at an average price of $120.14 and $119.47 per share, respectively.
Expeditors repurchased an additional 1.6 million and 12.1 million shares during the three and twelve months, at an average price of $119.22 and $114.68 per share, respectively.
In addition, during 2024 and 2023, the company paid cash dividends of $1.46 and $1.38 per share, respectively.
Cadence Design Systems Inc. dropped 3.9% to $288.65 despite the automation software provider reporting steady revenue growth in the fourth quarter ended in December.
Revenue climbed to $1.35 billion from $1.07 billion, net income increased to $340.21 million from $323.89 million, and earnings per diluted share rose to $1.24 from $1.19 a year ago.
For the first quarter of 2025, the company estimated diluted net income per share on a non-GAAP basis between $1.46 and $1.52, compared to $1.17 in the same period last year, and net income between $402 million and $419 million on a non-GAAP basis, compared to $318.88 million a year ago.
The company also estimated revenue in the first quarter between $1.23 billion and $1.25 billion, compared to $1.01 billion in the same quarter last year.
- Barry Adams
- 19 Feb, 2025
- New York City
Wall Street index lacked direction, and benchmark indexes reached record highs in the previous session.
The S&P 500 index declined 0.2%, and the Nasdaq Composite fell 0.22% to 19,991.52.
Investors have overlooked brewing tariff flip-flops and rising geopolitical tension, and they have remained focused on the positive macroeconomic backdrop and positive outlook for corporate earnings.
Moreover, investors are still factoring in as many as three or four rate cuts in 2025, despite the latest blip in a rebound in inflation.
U.S. housing starts slumped on a monthly basis in January and fell little on an annual basis.
Housing starts declined to a seasonally adjusted 1.366 million, a decline of 9.8% from the previous month's revised 1.51 million and 0.4% below from last year's 1.376 million.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.2% to 6,117.90, the Nasdaq Composite edged down 0.2% to 19,993.24, and the Russell 2000 index was down 0.7% to 2,274.85.
The yield on 2-year Treasury notes edged lower to 4.31%, 10-year Treasury notes increased to 4.57%, and 30-year Treasury bonds climbed to 4.80%.
WTI crude oil increased $1.03 to $72.86 a barrel, and natural gas prices edged higher by $0.16 to $4.18 a thermal unit.
Gold increased by $0.73 to 2,934.62 an ounce, and silver edged down by $0.25 to $32.64.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.08 to 107.14 and traded at a two-year high.
Stock Movers
Capital One Financial increased 1.3% to $205.51, and Discover Financial edged up 0.4% to $196.55, and the two companies won approvals from their shareholders for their merger plan.
Bumble Inc. plunged 20% to $6.47 after the online dating site's forward-looking guidance disappointed some investors.
Toll Brothers dropped 6% to $114.49, and the luxury home builder reported weaker-than-expected fiscal first quarter results.
Nikola Corp. plunged 49% to $0.39, and the electric vehicle maker filed for Chapter 11 bankruptcy protection from creditors.
- Barry Adams
- 19 Feb, 2025
- New York City
Wall Street index lacked direction, and benchmark indexes reached record highs in the previous session.
The S&P 500 index declined 0.2%, and the Nasdaq Composite fell 0.22% to 19,991.52.
Investors have overlooked brewing tariff flip-flops and rising geopolitical tension, and they have remained focused on the positive macroeconomic backdrop and positive outlook for corporate earnings.
Moreover, investors are still factoring in as many as three or four rate cuts in 2025, despite the latest blip in a rebound in inflation.
U.S. housing starts slumped on a monthly basis in January and fell little on an annual basis.
Housing starts declined to a seasonally adjusted 1.366 million, a decline of 9.8% from the previous month's revised 1.51 million and 0.4% below from last year's 1.376 million.
Stock Movers
Capital One Financial increased 1.3% to $205.51, and Discover Financial edged up 0.4% to $196.55, and the two companies won approvals from their shareholders for their merger plan.
Bumble Inc. plunged 20% to $6.47 after the online dating site's forward-looking guidance disappointed some investors.
Toll Brothers dropped 6% to $114.49, and the luxury home builder reported weaker-than-expected fiscal first quarter results.
Nikola Corp. plunged 49% to $0.39, and the electric vehicle maker filed for Chapter 11 bankruptcy protection from creditors.
- Inga Muller
- 19 Feb, 2025
- Frankfurt
European stock market indexes turned lower amid economic uncertainty and rising geopolitical tensions.
Bond yields in the eurozone advanced for the fourth consecutive session, and the UK's consumer price inflation accelerated in January.
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a sharp decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
Recent Earnings Movers
Temenos AG gained 1.2% to CHF 79.75 after the banking software company reported positive pipeline development in the fourth quarter ended in December.
Revenue increased to $318.92 million from $298.00 million, profit climbed to $77.0 million from $43.90 million, and earnings per diluted share rose to $1.08 from 60 cents a year ago.
The company said that annual recurring revenue (ARR) of cloud services made up 43% of the quarter's total ARR.
The Switzerland-based company lowered its full year 2028 targets to reflect the $400 million sale of its fund administration software business Multifonds, announced earlier in February.
For fiscal 2025, Temenos estimated revenue growth of at least 12%, and software as a service growth between 5% and 7%.
The company paid dividends of $1.33 per share within the last twelve months.
HSBC Holdings Plc. gained 1.8% to 897.20 pence after the London-based bank reported higher profit for fiscal year 2024.
Revenue declined to $65.85 billion from $66.06 billion, profit rose to $24.99 billion from $24.56 billion, and earnings per diluted share increased to $1.24 from $1.14 a year ago.
Dividends paid to shareholders were $16.41 billion in 2024, compared to $11.59 billion in 2023.
The company approved a fourth interim dividend of 36 cents per share, payable on April 25 to holders on record as of March 7, for a total of approximately $6.4 billion.
In addition, HSBC will repurchase up to $2 billion in shares, with the buyback expected to be completed by the end of the first quarter of 2025.
Glencore Plc. gained 0.8% to 353,25 pence after the Anglo-Swiss commodity trading and mining company reported higher revenue in fiscal year 2024.
Revenue increased 6% to $230.94 billion from $217.83 billion, net income swung to a loss of $1.63 billion from a profit of $4.28 billion, and loss per diluted share was 13 cents compared to a positive 34 cents a year ago.
For fiscal 2025, the company estimated revenue between $195.77 billion and $260.05 billion.
Glenore announced a stock repurchase program of up to $1 billion and completing the purchase on or before August 6.
- Inga Muller
- 19 Feb, 2025
- Frankfurt
European stock market indexes turned lower amid economic uncertainty and rising geopolitical tensions.
Bond yields in the eurozone advanced for the fourth consecutive session, and the UK's consumer price inflation accelerated in January.
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a sharp decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
Recent Earnings Movers
Temenos AG gained 1.2% to CHF 79.75 after the banking software company reported positive pipeline development in the fourth quarter ended in December.
Revenue increased to $318.92 million from $298.00 million, profit climbed to $77.0 million from $43.90 million, and earnings per diluted share rose to $1.08 from 60 cents a year ago.
The company said that annual recurring revenue (ARR) of cloud services made up 43% of the quarter's total ARR.
The Switzerland-based company lowered its full year 2028 targets to reflect the $400 million sale of its fund administration software business Multifonds, announced earlier in February.
For fiscal 2025, Temenos estimated revenue growth of at least 12%, and software as a service growth between 5% and 7%.
The company paid dividends of $1.33 per share within the last twelve months.
HSBC Holdings Plc. gained 1.8% to 897.20 pence after the London-based bank reported higher profit for fiscal year 2024.
Revenue declined to $65.85 billion from $66.06 billion, profit rose to $24.99 billion from $24.56 billion, and earnings per diluted share increased to $1.24 from $1.14 a year ago.
Dividends paid to shareholders were $16.41 billion in 2024, compared to $11.59 billion in 2023.
The company approved a fourth interim dividend of 36 cents per share, payable on April 25 to holders on record as of March 7, for a total of approximately $6.4 billion.
In addition, HSBC will repurchase up to $2 billion in shares, with the buyback expected to be completed by the end of the first quarter of 2025.
Glencore Plc. gained 0.8% to 353,25 pence after the Anglo-Swiss commodity trading and mining company reported higher revenue in fiscal year 2024.
Revenue increased 6% to $230.94 billion from $217.83 billion, net income swung to a loss of $1.63 billion from a profit of $4.28 billion, and loss per diluted share was 13 cents compared to a positive 34 cents a year ago.
For fiscal 2025, the company estimated revenue between $195.77 billion and $260.05 billion.
Glenore announced a stock repurchase program of up to $1 billion and completing the purchase on or before August 6.
- Bridgette Randall
- 19 Feb, 2025
- London
Stock market indexes turned sharply lower in the European Union amid growing tariff threats and economic uncertainty.
Benchmark indexes in Frankfurt and Paris eased from the highs in the previous session, and market enthusiasm waned after bond yields advanced for the fourth consecutive session.
Investors were on the backfoot after the U.S. stepped up tariff threats, and the Trump administration reiterated imposing additional "reciprocal tariffs" covering all imports.
The noise of tariffs, or import taxes, has weighed on the market for the last three weeks, as the incoming U.S. presidential administration stakes out a negotiating position with the European Union and adds pressure to buy LNG gas and other agricultural products from U.S. suppliers.
The U.K.'s consumer price inflation accelerated to 3.0% in January from 2.5% in December, the Office of National Statistics reported Wednesday.
The rebound in inflation was the fastest since March 2024, driven in large part by the increase in transportation costs and select food items.
Europe Indexes and Yields
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
The euro decreased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.45 Swiss cents.
Brent crude increased $0.51 to $76.32 a barrel, and the Dutch TTF natural gas was lower by €0.49 to €49.38 per MWh.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
- Bridgette Randall
- 19 Feb, 2025
- London
Stock market indexes turned sharply lower in the European Union amid growing tariff threats and economic uncertainty.
Benchmark indexes in Frankfurt and Paris eased from the highs in the previous session, and market enthusiasm waned after bond yields advanced for the fourth consecutive session.
Investors were on the backfoot after the U.S. stepped up tariff threats, and the Trump administration reiterated imposing additional "reciprocal tariffs" covering all imports.
The noise of tariffs, or import taxes, has weighed on the market for the last three weeks, as the incoming U.S. presidential administration stakes out a negotiating position with the European Union and adds pressure to buy LNG gas and other agricultural products from U.S. suppliers.
The U.K.'s consumer price inflation accelerated to 3.0% in January from 2.5% in December, the Office of National Statistics reported Wednesday.
The rebound in inflation was the fastest since March 2024, driven in large part by the increase in transportation costs and select food items.
Europe Indexes and Yields
The DAX index decreased by 0.8% to 22,673.01, the CAC-40 index edged lower 0.8% to 8,139.37, and the FTSE 100 index declined by 0.5% to 8,725.49.
The yield on 10-year German bonds inched higher to 2.53%, French bonds increased to 3.19%, the UK gilts moved up to 4.61%, and Italian bonds edged higher to 3.58%.
The euro decreased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was higher and traded at 90.45 Swiss cents.
Brent crude increased $0.51 to $76.32 a barrel, and the Dutch TTF natural gas was lower by €0.49 to €49.38 per MWh.
Europe Stock Movers
HSBC Holdings plc decreased 0.3% to 895.40 pence, and the Hong Kong- and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
BAE Systems plc increased 1.3% to 1,354.0 pence after the defense company reported strong 2024 results.
Glencore PLC dropped 7.5% to 328.60 pence, and the mining company reported a decline in earnings in 2024.
Philips NV plunged 10.5% to €24.26 after the Dutch medical device maker reported larger-than-expected losses in 2024.
MTU Aero Engines AG decreased 6.3% to €325.0, and the German engine maker said net income in the fourth quarter decreased to €143 million from €215 million a year ago.
- Li Chen
- 19 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong struggled to make headway after the artificial intelligence euphoria-driven rally faltered.
The Hang Seng index decreased 0.3%, and the CSI 300 index edged higher in volatile trading.
Tech stocks focused Hang Seng Tech index hovered near a five-year high after Baidu reported a 2% decline in annual revenue.
Investors feared that the latest rally over the last five weeks may have run out of steam after valuations surged to a five-month high.
Market participants bid up tech stocks in the hope that the affordable, artificial intelligence-driven chatbot Deep Seek could spark another wave of earnings growth for the leading tech companies.
However, Alibaba Group and Baidu Inc, the two main components of the tech index turned lower, sapping the market sentiment.
Moreover, property developers remained in focus after home prices continued to decline in January.
New home prices in first-tier cities declined 3.4% from a year ago in January, the National Bureau of Statistics said on Wednesday.
The prices in four main cities—Beijing, Shanghai, Shenzhen, and Guangzhou—fell at a slower pace from the fall of 3.8% in December.
Prices in the second- and third-tier cities decreased at a 5% and 6% annual pace, respectively.
Existing home prices in the top-tier cities declined 5.6% in January, and fell 7.6% in second-tier and 8.2% in third-tier cities.
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 22,911.93, and the mainland China-focused CSI 300 index jumped 0.7% to 3,940.16.
Baidu Inc. declined 2% to HK $88.35 after the search engine company reported weaker-than-expected 2024 results.
Revenue declined to RMB 19.34 billion from RMB 20.80 billion, net income increased to RMB 5.19 billion from RMB 2.60 billion, and earnings per diluted share rose to RMB 1.78 from 85 cents a year ago.
The company returned $356 million to shareholders in the quarter, bringing total repurchases to over $1 billion in 2024.
The company’s core business struggled, with online marketing revenue declining 7% from the same quarter last year, despite diversification efforts.
External ERNIE API calls marked a 178% increase, signaling a growing enterprise adoption.
China Vanke rose 2.4% to HK $5.93, Longfor Group Holdings advanced 0.8% to HK $10.20, and Sun Hung Kai Properties gained 0.4% to HK $70.80.
HSBC Holdings plc increased 1.2% to HK $88.40, and the Hong Kong and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
- Li Chen
- 19 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong struggled to make headway after the artificial intelligence euphoria-driven rally faltered.
The Hang Seng index decreased 0.3%, and the CSI 300 index edged higher in volatile trading.
Tech stocks focused Hang Seng Tech index hovered near a five-year high after Baidu reported a 2% decline in annual revenue.
Investors feared that the latest rally over the last five weeks may have run out of steam after valuations surged to a five-month high.
Market participants bid up tech stocks in the hope that the affordable, artificial intelligence-driven chatbot Deep Seek could spark another wave of earnings growth for the leading tech companies.
However, Alibaba Group and Baidu Inc, the two main components of the tech index turned lower, sapping the market sentiment.
Moreover, property developers remained in focus after home prices continued to decline in January.
New home prices in first-tier cities declined 3.4% from a year ago in January, the National Bureau of Statistics said on Wednesday.
The prices in four main cities—Beijing, Shanghai, Shenzhen, and Guangzhou—fell at a slower pace from the fall of 3.8% in December.
Prices in the second- and third-tier cities decreased at a 5% and 6% annual pace, respectively.
Existing home prices in the top-tier cities declined 5.6% in January, and fell 7.6% in second-tier and 8.2% in third-tier cities.
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 22,911.93, and the mainland China-focused CSI 300 index jumped 0.7% to 3,940.16.
Baidu Inc. declined 2% to HK $88.35 after the search engine company reported weaker-than-expected 2024 results.
Revenue declined to RMB 19.34 billion from RMB 20.80 billion, net income increased to RMB 5.19 billion from RMB 2.60 billion, and earnings per diluted share rose to RMB 1.78 from 85 cents a year ago.
The company returned $356 million to shareholders in the quarter, bringing total repurchases to over $1 billion in 2024.
The company’s core business struggled, with online marketing revenue declining 7% from the same quarter last year, despite diversification efforts.
External ERNIE API calls marked a 178% increase, signaling a growing enterprise adoption.
China Vanke rose 2.4% to HK $5.93, Longfor Group Holdings advanced 0.8% to HK $10.20, and Sun Hung Kai Properties gained 0.4% to HK $70.80.
HSBC Holdings plc increased 1.2% to HK $88.40, and the Hong Kong and London-based financial service provider reported a 2% increase in profit in 2024.
Net income advanced 2.2% to $22.9 billion from $22.4 billion, and diluted earnings per share edged up a fraction to $1.25.
The company announced a new $2 billion stock repurchase plan after completing a $9 billion buyback in 2023.
The company said it plans to pay a cash dividend of 36 U.S. cents for the fourth quarter, increasing its total payout to 87 U.S. cents in the year, compared to 61 U.S. cents in 2023.
- Arun Goswami
- 19 Feb, 2025
- Mumbai
Stock market indexes in Mumbai lacked direction amid weak market sentiment and high valuations.
The Sensex index advanced by 0.1% to 76,034.07, and the Nifty index increased by 0.1% to 22,959.65.
On the Mumbai stock exchange, 47 stocks traded at their 52-week highs, and 356 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.90 against the U.S. dollar.
Techno Electric & Engineering Company Ltd. jumped 5.8% to ₹956.90 after the power-infrastructure company reported a 35% surge in net income from a year ago in the December quarter.
Consolidated revenue increased to ₹719.8 crore from ₹407.3 crore, after-tax profit rose to ₹104.6 crore from ₹77.6 crore, and diluted earnings per share jumped to ₹8.99 from ₹7.21 a year ago.
Elantas Beck India Ltd. decreased 2.2% to ₹8,696.90 after the company reported a slight increase in revenue and a 20% decline in profit in the December quarter.
Consolidated revenue advanced to ₹207 crore from ₹190.7 crore, net income decreased to ₹29.7 crore from ₹37 crore, and diluted earnings per share fell to ₹37.52 from ₹46.67 a year ago.
The company declared an interim cash dividend for the fiscal 2025 of ₹7.50 per share.
Punjab Communications Limited advanced 5% to ₹45.95, and the telecommunications company's net income swung to a profit in the December quarter.
Consolidated revenue increased to ₹5.7 crore from ₹4.7 crore, net income swung to a profit of ₹0.5 crore from a loss of ₹1.4 crore, and diluted earnings per share rose to an income of 46 paisa from a loss of ₹1.13 a year ago.
Ambika Cotton Mills Limited increased 1.5% to ₹1,420 after the cotton yarn manufacturers reported a 19% drop in revenue and a slight increase in profit in the December quarter.
Consolidated revenue declined to ₹162.6 crore from ₹200.2 crore, net income rose to ₹14.3 crore from ₹13 crore, and diluted earnings per share advanced to ₹24.95 from ₹22.74 a year ago.
ICRA Limited fell 0.2% to ₹5,547.85 despite the credit rating agency reporting a 30% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹139.7 crore from ₹131.8 crore, after-tax profit rose to ₹42.2 crore from ₹32.4 crore, and diluted earnings per share jumped to ₹43.63 from ₹33.42 a year ago.
The company declared an interim dividend for the fiscal 2025 of ₹100 per share.
Fiberweb (India) Limited rose 1.7% to ₹42.85 after the nonwoven fabric’s maker reported a two-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹25.2 crore from ₹14.7 crore, net income jumped to ₹3.5 crore from ₹1.5 crore, and diluted earnings per share rose to ₹1.23 from 54 paise a year ago.
Omaxe Ltd. increased 4.2% to ₹80.78 despite the real estate company’s losses expanded sharply in the December quarter.
Consolidated revenue decreased to ₹300.4 crore from ₹601 crore, net loss expanded to ₹150.3 crore from ₹71.8 crore, and diluted losses per share advanced to ₹8.23 from ₹3.66 a year ago.
Garware Technical Fibres Ltd. inched up 1.4% to ₹715.75 after the technical textiles company reported a 19% increase in net income in the December quarter.
Consolidated revenue increased to ₹361.2 crore from ₹279.4 crore, net income jumped to ₹42.4 crore from ₹35.8 crore, and diluted earnings per share rose to ₹21.30 from ₹17.56 a year ago.
- Arun Goswami
- 19 Feb, 2025
- Mumbai
Stock market indexes in Mumbai lacked direction amid weak market sentiment and high valuations.
The Sensex index advanced by 0.1% to 76,034.07, and the Nifty index increased by 0.1% to 22,959.65.
On the Mumbai stock exchange, 47 stocks traded at their 52-week highs, and 356 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.90 against the U.S. dollar.
Techno Electric & Engineering Company Ltd. jumped 5.8% to ₹956.90 after the power-infrastructure company reported a 35% surge in net income from a year ago in the December quarter.
Consolidated revenue increased to ₹719.8 crore from ₹407.3 crore, after-tax profit rose to ₹104.6 crore from ₹77.6 crore, and diluted earnings per share jumped to ₹8.99 from ₹7.21 a year ago.
Elantas Beck India Ltd. decreased 2.2% to ₹8,696.90 after the company reported a slight increase in revenue and a 20% decline in profit in the December quarter.
Consolidated revenue advanced to ₹207 crore from ₹190.7 crore, net income decreased to ₹29.7 crore from ₹37 crore, and diluted earnings per share fell to ₹37.52 from ₹46.67 a year ago.
The company declared an interim cash dividend for the fiscal 2025 of ₹7.50 per share.
Punjab Communications Limited advanced 5% to ₹45.95, and the telecommunications company's net income swung to a profit in the December quarter.
Consolidated revenue increased to ₹5.7 crore from ₹4.7 crore, net income swung to a profit of ₹0.5 crore from a loss of ₹1.4 crore, and diluted earnings per share rose to an income of 46 paisa from a loss of ₹1.13 a year ago.
Ambika Cotton Mills Limited increased 1.5% to ₹1,420 after the cotton yarn manufacturers reported a 19% drop in revenue and a slight increase in profit in the December quarter.
Consolidated revenue declined to ₹162.6 crore from ₹200.2 crore, net income rose to ₹14.3 crore from ₹13 crore, and diluted earnings per share advanced to ₹24.95 from ₹22.74 a year ago.
ICRA Limited fell 0.2% to ₹5,547.85 despite the credit rating agency reporting a 30% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹139.7 crore from ₹131.8 crore, after-tax profit rose to ₹42.2 crore from ₹32.4 crore, and diluted earnings per share jumped to ₹43.63 from ₹33.42 a year ago.
The company declared an interim dividend for the fiscal 2025 of ₹100 per share.
Fiberweb (India) Limited rose 1.7% to ₹42.85 after the nonwoven fabric’s maker reported a two-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹25.2 crore from ₹14.7 crore, net income jumped to ₹3.5 crore from ₹1.5 crore, and diluted earnings per share rose to ₹1.23 from 54 paise a year ago.
Omaxe Ltd. increased 4.2% to ₹80.78 despite the real estate company’s losses expanded sharply in the December quarter.
Consolidated revenue decreased to ₹300.4 crore from ₹601 crore, net loss expanded to ₹150.3 crore from ₹71.8 crore, and diluted losses per share advanced to ₹8.23 from ₹3.66 a year ago.
Garware Technical Fibres Ltd. inched up 1.4% to ₹715.75 after the technical textiles company reported a 19% increase in net income in the December quarter.
Consolidated revenue increased to ₹361.2 crore from ₹279.4 crore, net income jumped to ₹42.4 crore from ₹35.8 crore, and diluted earnings per share rose to ₹21.30 from ₹17.56 a year ago.
- Alexander Garcia
- 18 Feb, 2025
- Miami
Wall Street indexes flatlined in Tuesday's trading after investors returned from a three-day holiday.
The S&P 500 index edged up 0.1%, and the Nasdaq Composite declined 0.1%, and benchmark indexes lacked direction as investors reviewed geopolitical tensions and domestic inflation outlook.
The S&P 500 index and the Nasdaq Composite have been hovering near record highs amid optimism about earnings, macroeconomic outlook, and labor market conditions.
Despite the recent uptick in consumer and producer price inflations, investors continued to bet on the Federal Reserve to deliver at least four additional rate cuts totaling 100 basis points.
Investors are anticipating that the sustained wage increases will continue to drive consumer spending in the months ahead, despite high food prices and rising costs of shelter.
Across the Atlantic, benchmark indexes Paris and Frankfurt traded near record highs, and defense stocks rallied for the second consecutive day in the hopes that the NATO member nations will increase their security spending.
Tech stocks extended their rally for the second week in a row in Hong Kong, and China's political leaders ended their hostile attitude towards the private sector after the success of the artificial intelligence chatbot Deep Seek.
China's regulators stepped up scrutiny of the private sector in 2020 and squashed the initial public offering of Ant Group, a non-bank financing arm of Alibaba Group, amid worries of rising competition for the state-controlled local banks.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.1% to 6,119.46, the Nasdaq Composite edged down 0.1% to 20,009.92, and the Russell 2000 index was up 0.1% to 2,290.91.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes increased to 4.53%, and 30-year Treasury bonds climbed to 4.73%.
WTI crude oil decreased $0.11 to $71.28 a barrel, and natural gas prices edged lower by $0.01 to $3.72 a thermal unit.
Gold increased by $31.78 to $2,940.78 an ounce, and silver edged up by $0.42 to $32.79.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.52 to 107.10 and traded at a two-year high.
U.S. Stock Movers
Southwest Airlines decreased 0.6% to $30.10, and the regional airline said on Monday that it plans to trim its corporate workforce by 15% in order to reduce its costs.
Delta Airlines declined 0.9% to $64.82 after the company's flight flipped upside down while landing at Toronto's main airport.
All 80 passengers and aircraft staff survived, but 18 people were reported injured.
Delta flight 4819 from Minneapolis to Toronto was carrying 76 passengers and four crew members, including 22 Canadian citizens.
The regional flight was operated by Dela's subsidiary Endeavor Air, and the aircraft was Bombardier CRJ-900.
Charles Schwab Corp. gained 1.4% to $81.48 after the financial services company reported a significant increase in new assets received during January 2025.