- Inga Muller
- 20 Feb, 2025
- Frankfurt
European markets attempted to rebound from sharp losses in the previous session amid another batch of mixed earnings.
Denmark's economy in the fourth quarter expanded at a faster pace than in the previous quarter.
The DAX index increased by 0.5% to 22,543.39, the CAC-40 index edged higher 0.6% to 8,158.04, and the FTSE 100 index declined by 0.2% to 8,697.46.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.24%, the UK gilts moved up to 4.63%, and Italian bonds edged lower to 3.63%.
Stock Movers
Airbus SE decreased 1.1% to €167.08 after the aviation company delayed the release of the A350 air freight model to 2027.
Renault SA decreased 2.9% to €49.71, and the French passenger car maker reported a 3.6% increase in operating profit in 2024.
Mercedes-Benz Group dropped 1.8% to €60.06 after the German luxury automaker reported a 41% decline in annual earnings in the car division and announced a new plan to cut costs.
Schneider Electric SE advanced 5.6% to €260.40, and the French electric equipment maker forecast a larger-than-expected increase in margin in 2025.
Accor SA fell 2.2% to €47.39 after the French hotel group said net income in 2024 declined to €610 million from €633 million a year ago.
Anglo American plc surged 4.4% to 2,474.0 pence despite the UK-based mining company taking a write-down for its struggling De Beers unit and posting a decline in net income.
Aegon Ltd. decreased 8.5% to €5.93 after the Dutch insurance company reported weaker-than-expected full-year results.
Recent Earnings Movers
Philips NV dropped 11.1% to €24.08 after the electronic devices manufacturer reported a comparable sales growth of only 1%, citing a double-digit decline in China.
Sales in the fourth quarter declined to €5.04 billion from €5.06 billion, net income swung to a loss of €334 million compared to a profit of €39 million, and loss per diluted share was 36 cents compared to a positive 4 cents a year ago.
For fiscal 2025, the company estimated 1% to 3% comparable sales growth, including a mid- to high-single-digit decline in China, and an adjusted EBITA margin increasing 30-80 bps to 11.8% to 12.3%.
Philips will propose a dividend of 85 cents per share, in shares or cash, for up to €786 million, and shares will be traded ex-dividend at the Euronext Amsterdam as of May 12 and at the NYSE as of May 13.
Carrefour SA dropped 0.6% to €13.71 after the French retail and wholesale company said same-store sales increased 9.9% during fiscal 2024.
Revenue increased to €87.27 billion from €84.91 billion, net income dropped to €723 million from €1.66 billion, and adjusted earnings per share fell to €1.61 from €1.71 a year ago.
In the fourth quarter, same-store sales climbed 7.1% supported by growth in France, Europe, and Latin America.
For fiscal 2025, the company will implement a new €1.2 billion cost savings plan, as it remains committed to accelerating e-commerce operations.
Carrefour also plans to expand private label products, targeting 40% of food sales, and expand its cash and carry operations in Latin America, while further developing convenience store formats in Europe.
The food chain operator proposed a dividend of 92 cents per share, up 6% from its previously paid dividend, and a special dividend of 23 cents per share, worth €150 million.
MTU Aero Engines AG plunged 5% to €328.90 despite the German aircraft engine manufacturer reporting revenue growth in the fourth quarter ending in December.
Revenue increased to €2.12 billion from €1.71 billion, net income dropped to €143 million from €215 million, and adjusted earnings per share rose to €4.05 from €2.80 a year ago.
For fiscal 2025, the company estimated revenue between €8.7 billion and €8.9 billion, compared to €7.41 billion in 2024.
MTU plans to distribute a dividend of €2.20.
HochTief AG dropped 2.6% to €150.50 despite the global provider of infrastructure technology and construction services reporting revenue growth in fiscal 2024.
Sales increased to €33.30 billion from €27.76 billion, profit before tax declined to €715.0 million from €1.0 billion, and earnings per diluted share dropped to €6.95 from €10.31 a year ago.
For fiscal 2025, the company estimated an operational net profit between €680 million and €730 million, compared to €625 million in 2024.
HochTief proposed a dividend of €5.23 per share for €393 million, compared to €4.40 per share in 2023, and representing a payout ratio of 65% of operational net profit.
BAE Systems Plc. eased 0.3% to 1,333 pence after the London-based aerospace, defense, and information security company reported earnings growth in fiscal 2024.
Revenue increased to £26.31 billion from £23.08 billion, profit jumped to £1.96 billion from £1.86 billion, and earnings per diluted share rose to 67.6 pence from 62.4 pence a year ago.
The company paid a dividend of 18.5 pence per share and an interim dividend of 12.4 pence per share, compared to 16.6 pence per share and 11.5 pence a share in 2023, respectively.
Total dividends paid in the year amounted to £973 million, compared to £857 million in 2023.
For fiscal 2025, the company estimated sales growth between 7% and 9% and underlying operating profits between 8% and 10%.
BAE Systems upped its annual dividend by 10% to 33.0 pence per share from 30.0 pence per share, and lifted its final dividend by 11% to 20.6 pence from 18.5 pence.
The dividend will be paid on June 2 to shareholders registered on April 22, and the provisional ex-dividend date is April 17.
Mercedes Benz Group AG plunged 2.9% to €59.41 after the German luxury vehicle manufacturer reported lower earnings for the fourth quarter ending in December.
Revenue declined to €38.45 billion from €39.98 billion, net profit dropped to €2.48 billion from €3.12 billion, and earnings per diluted share fell to €2.57 from €2.99 a year ago.
The company sold 520,140 units in the quarter, supported by higher sales of plug-in hybrid vehicles, compared to 514,258 units during the same period in 2023.
Sales of vans fell 15% to 105,687 units from 124,317 units a year ago.
At the annual general meeting on May 7, the company plans to propose a dividend of €4.30 per share, lower than €5.30 in the prior year.
In addition, Mercedes-Benz plans to buy back its own shares worth up to €5 billion, or 10% of the share capital, over a period of up to 24 months.
The company plans to cut production costs by 10% through 2027.
- Inga Muller
- 20 Feb, 2025
- Frankfurt
European markets attempted to rebound from sharp losses in the previous session amid another batch of mixed earnings.
Denmark's economy in the fourth quarter expanded at a faster pace than in the previous quarter.
The DAX index increased by 0.5% to 22,543.39, the CAC-40 index edged higher 0.6% to 8,158.04, and the FTSE 100 index declined by 0.2% to 8,697.46.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.24%, the UK gilts moved up to 4.63%, and Italian bonds edged lower to 3.63%.
Stock Movers
Airbus SE decreased 1.1% to €167.08 after the aviation company delayed the release of the A350 air freight model to 2027.
Renault SA decreased 2.9% to €49.71, and the French passenger car maker reported a 3.6% increase in operating profit in 2024.
Mercedes-Benz Group dropped 1.8% to €60.06 after the German luxury automaker reported a 41% decline in annual earnings and announced a new plan to cut costs.
Schneider Electric SE advanced 5.6% to €260.40, and the French electric equipment maker forecast a larger-than-expected increase in margin in 2025.
Accor SA fell 2.2% to €47.39 after the French hotel group said net income in 2024 declined to €610 million from €633 million a year ago.
Anglo American plc surged 4.4% to 2,474.0 pence despite the UK-based mining company taking a write-down for its struggling De Beers unit and posting a decline in net income.
Aegon Ltd. decreased 8.5% to €5.93 after the Dutch insurance company reported weaker-than-expected full-year results.
Recent Earnings Movers
Philips NV dropped 11.1% to €24.08 after the electronic devices manufacturer reported a comparable sales growth of only 1%, citing a double-digit decline in China.
Sales in the fourth quarter declined to €5.04 billion from €5.06 billion, net income swung to a loss of €334 million compared to a profit of €39 million, and loss per diluted share was 36 cents compared to a positive 4 cents a year ago.
For fiscal 2025, the company estimated 1% to 3% comparable sales growth, including a mid- to high-single-digit decline in China, and an adjusted EBITA margin increasing 30-80 bps to 11.8% to 12.3%.
Philips will propose a dividend of 85 cents per share, in shares or cash, for up to €786 million, and shares will be traded ex-dividend at the Euronext Amsterdam as of May 12 and at the NYSE as of May 13.
Carrefour SA dropped 0.6% to €13.71 after the French retail and wholesale company said same-store sales increased 9.9% during fiscal 2024.
Revenue increased to €87.27 billion from €84.91 billion, net income dropped to €723 million from €1.66 billion, and adjusted earnings per share fell to €1.61 from €1.71 a year ago.
In the fourth quarter, same-store sales climbed 7.1% supported by growth in France, Europe, and Latin America.
For fiscal 2025, the company will implement a new €1.2 billion cost savings plan, as it remains committed to accelerating e-commerce operations.
Carrefour also plans to expand private label products, targeting 40% of food sales, and expand its cash and carry operations in Latin America, while further developing convenience store formats in Europe.
The food chain operator proposed a dividend of 92 cents per share, up 6% from its previously paid dividend, and a special dividend of 23 cents per share, worth €150 million.
MTU Aero Engines AG plunged 5% to €328.90 despite the German aircraft engine manufacturer reporting revenue growth in the fourth quarter ending in December.
Revenue increased to €2.12 billion from €1.71 billion, net income dropped to €143 million from €215 million, and adjusted earnings per share rose to €4.05 from €2.80 a year ago.
For fiscal 2025, the company estimated revenue between €8.7 billion and €8.9 billion, compared to €7.41 billion in 2024.
MTU plans to distribute a dividend of €2.20.
HochTief AG dropped 2.6% to €150.50 despite the global provider of infrastructure technology and construction services reporting revenue growth in fiscal 2024.
Sales increased to €33.30 billion from €27.76 billion, profit before tax declined to €715.0 million from €1.0 billion, and earnings per diluted share dropped to €6.95 from €10.31 a year ago.
For fiscal 2025, the company estimated an operational net profit between €680 million and €730 million, compared to €625 million in 2024.
HochTief proposed a dividend of €5.23 per share for €393 million, compared to €4.40 per share in 2023, and representing a payout ratio of 65% of operational net profit.
BAE Systems Plc. eased 0.3% to 1,333 pence after the London-based aerospace, defense, and information security company reported earnings growth in fiscal 2024.
Revenue increased to £26.31 billion from £23.08 billion, profit jumped to £1.96 billion from £1.86 billion, and earnings per diluted share rose to 67.6 pence from 62.4 pence a year ago.
The company paid a dividend of 18.5 pence per share and an interim dividend of 12.4 pence per share, compared to 16.6 pence per share and 11.5 pence a share in 2023, respectively.
Total dividends paid in the year amounted to £973 million, compared to £857 million in 2023.
For fiscal 2025, the company estimated sales growth between 7% and 9% and underlying operating profits between 8% and 10%.
BAE Systems upped its annual dividend by 10% to 33.0 pence per share from 30.0 pence per share, and lifted its final dividend by 11% to 20.6 pence from 18.5 pence.
The dividend will be paid on June 2 to shareholders registered on April 22, and the provisional ex-dividend date is April 17.
Mercedes Benz Group AG plunged 2.9% to €59.41 after the German luxury vehicle manufacturer reported lower earnings for the fourth quarter ending in December.
Revenue declined to €38.45 billion from €39.98 billion, net profit dropped to €2.48 billion from €3.12 billion, and earnings per diluted share fell to €2.57 from €2.99 a year ago.
The company sold 520,140 units in the quarter, supported by higher sales of plug-in hybrid vehicles, compared to 514,258 units during the same period in 2023.
Sales of vans fell 15% to 105,687 units from 124,317 units a year ago.
At the annual general meeting on May 7, the company plans to propose a dividend of €4.30 per share, lower than €5.30 in the prior year.
In addition, Mercedes-Benz plans to buy back its own shares worth up to €5 billion, or 10% of the share capital, over a period of up to 24 months.
The company plans to cut production costs by 10% through 2027.
- Bridgette Randall
- 20 Feb, 2025
- London
European stock market indexes attempted to rebound after falling sharply in the previous session amid growing worries about profitability for the automobile industry and global trade uncertainties.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher in choppy trading as investors reviewed the latest batch of earnings.
Mercedes Benz Group, Renault, Airbus SE, Accor, Indivior, Aegon, Anglo American, and Schneider Electric were in focus after they reported financial results.
Investors have retained optimism and bid up stocks in 2025 despite the growing uncertainty related to U.S. economic growth and economic policy and mediocre U.S. presidential administration.
European companies are looking for ways to tap markets in Brazil, India, China, and the ASEAN region amid rising trade barriers and policy uncertainties in the U.S.
Closer to home and on the economic front, Germany's producer price inflation slowed to an annual pace of 0.5% in January from 0.8% in the previous month, according to an update from Destatis on Thursday.
Denmark's economy advanced 1.6% in the fourth quarter, higher than the upwardly revised 1.3% growth in the previous quarter.
On an annual basis, the Danish economy in the fourth quarter expanded a solid 4.1% following an upwardly revised 3.8% in the previous quarter, Statistics Denmark reported Thursday.
For the full-year 2024, economy expanded at an annual pace of 1.85%, matching the 1.9% increase in 2023.
Europe Indexes and Yields
The DAX index increased by 0.5% to 22,543.39, the CAC-40 index edged higher 0.6% to 8,158.04, and the FTSE 100 index declined by 0.2% to 8,697.46.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.24%, the UK gilts moved up to 4.63%, and Italian bonds edged lower to 3.63%.
The euro increased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 90.18 Swiss cents.
Brent crude increased $0.13 to $76.22 a barrel, and the Dutch TTF natural gas was higher by €0.49 to €47.55 per MWh.
Europe Stock Movers
Airbus SE decreased 1.1% to €167.08 after the aviation company delayed the release of the A350 air freight model to 2027, and the company's results fell short of market expectations.
Renault SA decreased 2.9% to €49.71, and the French passenger car maker reported a 3.6% increase in operating profit in 2024.
Mercedes-Benz Group dropped 1.8% to €60.06 after the German luxury automaker reported a 41% decline in annual earnings in its car division and announced a new plan to cut costs.
Schneider Electric SE advanced 5.6% to €260.40, and the French electric equipment maker forecast a larger-than-expected increase in margin in 2025, and the company reported record annual sales and earnings.
Accor SA fell 2.2% to €47.39 after the French hotel group said net income in 2024 declined to €610 million from €633 million a year ago.
Anglo American plc surged 4.4% to 2,474.0 pence despite the UK-based mining company taking a write-down for its struggling De Beers unit and posting a decline in net income.
Aegon Ltd. decreased 8.5% to €5.93 after the Dutch insurance company reported weaker-than-expected full-year results.
- Bridgette Randall
- 20 Feb, 2025
- London
European stock market indexes attempted to rebound after falling sharply in the previous session amid growing worries about profitability for the automobile industry and global trade uncertainties.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher in choppy trading as investors reviewed the latest batch of earnings.
Mercedes Benz Group, Renault, Airbus SE, Accor, Indivior, Aegon, Anglo American, and Schneider Electric were in focus after they reported financial results.
Investors have retained optimism and bid up stocks in 2025 despite the growing uncertainty related to U.S. economic growth and economic policy and mediocre U.S. presidential administration.
European companies are looking for ways to tap markets in Brazil, India, China, and the ASEAN region amid rising trade barriers and policy uncertainties in the U.S.
Closer to home and on the economic front, Germany's producer price inflation slowed to an annual pace of 0.5% in January from 0.8% in the previous month, according to an update from Destatis on Thursday.
Denmark's economy advanced 1.6% in the fourth quarter, higher than the upwardly revised 1.3% growth in the previous quarter.
On an annual basis, the Danish economy in the fourth quarter expanded a solid 4.1% following an upwardly revised 3.8% in the previous quarter, Statistics Denmark reported Thursday.
For the full-year 2024, economy expanded at an annual pace of 1.85%, matching the 1.9% increase in 2023.
Europe Indexes and Yields
The DAX index increased by 0.5% to 22,543.39, the CAC-40 index edged higher 0.6% to 8,158.04, and the FTSE 100 index declined by 0.2% to 8,697.46.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.24%, the UK gilts moved up to 4.63%, and Italian bonds edged lower to 3.63%.
The euro increased to $1.04; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 90.18 Swiss cents.
Brent crude increased $0.13 to $76.22 a barrel, and the Dutch TTF natural gas was higher by €0.49 to €47.55 per MWh.
Europe Stock Movers
Airbus SE decreased 1.1% to €167.08 after the aviation company delayed the release of the A350 air freight model to 2027.
Renault SA decreased 2.9% to €49.71, and the French passenger car maker reported a 3.6% increase in operating profit in 2024.
Mercedes-Benz Group dropped 1.8% to €60.06 after the German luxury automaker reported a 41% decline in annual earnings and announced a new plan to cut costs.
Schneider Electric SE advanced 5.6% to €260.40, and the French electric equipment maker forecast a larger-than-expected increase in margin in 2025.
Accor SA fell 2.2% to €47.39 after the French hotel group said net income in 2024 declined to €610 million from €633 million a year ago.
Anglo American plc surged 4.4% to 2,474.0 pence despite the UK-based mining company taking a write-down for its struggling De Beers unit and posting a decline in net income.
Aegon Ltd. decreased 8.5% to €5.93 after the Dutch insurance company reported weaker-than-expected full-year results.
- Akira Ito
- 20 Feb, 2025
- Tokyo
Stock market indexes in Tokyo closed down on Thursday, extending losses in the previous session amid worries of additional U.S. tariffs on Japanese exports.
The Nikkei 225 stock average decreased 1.2%, and the broader TOPIX fell 1.3% amid new tariff headwinds.
Stock market indexes headed lower for the second consecutive day after the U.S. president proposed to impose additional tariffs on key Japanese industries and pillars of exports—automobiles, pharmaceuticals, and semiconductor products.
Market sentiment was defensive ahead of the release of inflation data on Friday, and investors are estimating that consumer price inflation has accelerated in January, setting the stage for another rate increase in March.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.2% to 38,678.04, and the broader TOPIX dropped 1.3% to 2,734.60.
Shiseido decreased 0.1% to ¥2,667.0 and trimmed the previous session's surge of 12% after the London, UK-based Independent Franchise Partners acquired a 5.2% stake in the company.
Hino Motors decreased 5.7% to ¥482.0,
Yokohama Rubber fell 6.6% to ¥3,352.0, despite the company reporting record results and lifting its 2025 sales outlook.
Yokohama estimated 2025 global sales to increase 11% to $7.74 billion. and 2.7% rise in business profit of $876.2 million.
- Akira Ito
- 20 Feb, 2025
- Tokyo
Stock market indexes in Tokyo closed down on Thursday, extending losses in the previous session amid worries of additional U.S. tariffs on Japanese exports.
The Nikkei 225 stock average decreased 1.2%, and the broader TOPIX fell 1.3% amid new tariff headwinds.
Stock market indexes headed lower for the second consecutive day after the U.S. president proposed to impose additional tariffs on key Japanese industries and pillars of exports—automobiles, pharmaceuticals, and semiconductor products.
Market sentiment was defensive ahead of the release of inflation data on Friday, and investors are estimating that consumer price inflation has accelerated in January, setting the stage for another rate increase in March.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.2% to 38,678.04, and the broader TOPIX dropped 1.3% to 2,734.60.
Shiseido decreased 0.1% to ¥2,667.0 and trimmed the previous session's surge of 12% after the London, UK-based Independent Franchise Partners acquired a 5.2% stake in the company.
Hino Motors decreased 5.7% to ¥482.0,
Yokohama Rubber fell 6.6% to ¥3,352.0, despite the company reporting record results and lifting its 2025 sales outlook.
Yokohama estimated 2025 global sales to increase 11% to $7.74 billion. and 2.7% rise in business profit of $876.2 million.
- Li Chen
- 20 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped for the second consecutive session amid worries about stretched valuations and ongoing trade tensions with the U.S.
The Hang Seng index declined 1.5% and the mainland-focused CSI 300 index dropped 0.3%, as investors pulled back after a rally in tech stocks over the last five week.
The Hang Seng Tech Index jumped to a five-month high and rebounded from the low in late January after the success of the affordable artificial intelligence chatbot Deep Seek raised hopes that more companies would be able to implement advanced technology.
The success of the Deep Seek reversed the outflow of foreign funds, as investors speculated about the possible rise in earnings growth for leading tech companies.
However, the market rally came to a halt this week as investors began questioning stretched valuations of tech companies amid a lack of solid evidence of earnings growth.
The People's Bank of China held its loan prime rates for the fourth month in a row in February.
The one-year loan prime rate was held at 3.1%, while the five-year rate was unrevised at 3.6%, the reference rate for mortgage lending.
Both reference rates for consumer and housing loans are now at record lows, since these rates were dropped in October and July last year.
Moreover, market sentiment was defensive after the members of the U.S. rate-setting committee demanded the emergence of solid evidence of a decline in inflation amid policy uncertainties and cited the inflation outlook.
The U.S. Federal Reserve paused its rate-cutting campaign in January after cutting rates three times in a row since September.
China Indexes and Stocks
The Hang Seng index decreased 1.5% to 22,591.58, and the mainland-focused CSI 300 index fell 0.3% to 3,928.90.
Bilibili Inc. decreased 5.2% to HK $154.90, and the technology company is scheduled to release earnings later today.
Alibaba Group Holding fell 2.6% to HK $120.90, and the e-commerce company is expected to deliver a strong increase in revenue and earnings, driven in part by the surge in cloud services.
Meituan decreased 6.6% to HK $156.60, Tencent Holdings dropped 2.5% to HK $485.20, and Baidu Inc fell 3.3% to HK $85.50.
- Li Chen
- 20 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped for the second consecutive session amid worries about stretched valuations and ongoing trade tensions with the U.S.
The Hang Seng index declined 1.5% and the mainland-focused CSI 300 index dropped 0.3%, as investors pulled back after a rally in tech stocks over the last five week.
The Hang Seng Tech Index jumped to a five-month high and rebounded from the low in late January after the success of the affordable artificial intelligence chatbot Deep Seek raised hopes that more companies would be able to implement advanced technology.
The success of the Deep Seek reversed the outflow of foreign funds, as investors speculated about the possible rise in earnings growth for leading tech companies.
However, the market rally came to a halt this week as investors began questioning stretched valuations of tech companies amid a lack of solid evidence of earnings growth.
The People's Bank of China held its loan prime rates for the fourth month in a row in February.
The one-year loan prime rate was held at 3.1%, while the five-year rate was unrevised at 3.6%, the reference rate for mortgage lending.
Both reference rates for consumer and housing loans are now at record lows, since these rates were dropped in October and July last year.
Moreover, market sentiment was defensive after the members of the U.S. rate-setting committee demanded the emergence of solid evidence of a decline in inflation amid policy uncertainties and cited the inflation outlook.
The U.S. Federal Reserve paused its rate-cutting campaign in January after cutting rates three times in a row since September.
China Indexes and Stocks
The Hang Seng index decreased 1.5% to 22,591.58, and the mainland-focused CSI 300 index fell 0.3% to 3,928.90.
Bilibili Inc. decreased 5.2% to HK $154.90, and the technology company is scheduled to release earnings later today.
Alibaba Group Holding fell 2.6% to HK $120.90, and the e-commerce company is expected to deliver a strong increase in revenue and earnings, driven in part by the surge in cloud services.
Meituan decreased 6.6% to HK $156.60, Tencent Holdings dropped 2.5% to HK $485.20, and Baidu Inc fell 3.3% to HK $85.50.
- Arun Goswami
- 20 Feb, 2025
- Mumbai
Benchmark indexes in Mumbai wavered around the flatline in a tight range as investors reviewed rising trade and geopolitical tensions.
The Sensex index advanced by 0.3% to 75,654.42, and the Nifty index increased by 0.2% to 22,877.75.
On the Mumbai stock exchange, 22 stocks traded at their 52-week highs, and 104 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 86.80 against the U.S. dollar.
Orient Paper & Industries Ltd. rose 1.6% to ₹25.58 after the tissue paper maker reported a slight increase in revenue in the December quarter.
Consolidated revenue increased to ₹234.6. crore from ₹207.1 crore, net loss expanded to ₹10.5 crore from ₹3.2 crore, and diluted losses per share advanced to 49 paisa from 15 paisa a year ago.
National Fertilizers Limited increased 1.3% to ₹87.75 despite the fertilizer and other agricultural inputs maker reporting a 78% plunge from a year ago in quarterly profit.
Consolidated revenue in the December quarter decreased to ₹5,883.9 crore from ₹7,598.3 crore, net income dropped to ₹30.9 crore from ₹140 crore, and diluted earnings per share fell to 63 paise from ₹2.85 a year ago.
Avanti Feeds Ltd. jumped 3.4% to ₹710.85 after the seafood company reported a 69% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,404.9 crore from ₹1,287 crore, after-tax profit rose to ₹140.8 crore from ₹83.3 crore, and diluted earnings per share jumped to ₹9.92 from ₹5.32 a year ago.
Arihant Capital Markets Limited advanced 0.7% to ₹74.57 despite the financial services provider reporting a 19% drop in revenue and a 37% decline in profit in the December quarter.
Consolidated revenue declined to ₹52 crore from ₹72.7 crore, net income fell to ₹12.3 crore from ₹19.6 crore, and diluted earnings per share decreased to ₹1.12 from ₹1.88 a year ago.
T.T. Limited dropped 1.5% to ₹12.80 after the textile company's net income swung to a profit in the December quarter.
Consolidated revenue increased to ₹56.8 crore from ₹52.4 crore, net income swung to a profit of ₹1 crore from a loss of ₹2.2 crore, and diluted earnings per share rose to an income of 47 paisa from a loss of ₹1.01 a year ago.
Hariom Pipe Industries Limited inched up 2.6% to ₹378.90 after the steel pipes and other products maker reported a 14% increase in net income in the December quarter.
Consolidated revenue advanced to ₹300.4 crore from ₹282 crore, net income increased to ₹11.2 crore from ₹9.8 crore, and diluted earnings per share rose to ₹3.63 from ₹3.17 a year ago.
Force Motors Limited edged up 0.5% to ₹6726.30, and the automotive maker reported a 14% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,904.3 crore from ₹1,695.5 crore, after-tax profit rose to ₹110.1 crore from ₹94.7 crore, and diluted earnings per share jumped to ₹83.53 from ₹71.91 a year ago.
National Aluminium Co. Ltd. gained 2.3% to ₹191.50 after the aluminum maker reported a three-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹4,761.3 crore from ₹3,397.9 crore, net income jumped to ₹1,582.9 crore from ₹488.5 crore, and diluted earnings per share rose to ₹8.62 from ₹2.66 a year ago.
- Arun Goswami
- 20 Feb, 2025
- Mumbai
Benchmark indexes in Mumbai wavered around the flatline in a tight range as investors reviewed rising trade and geopolitical tensions.
The Sensex index advanced by 0.3% to 75,654.42, and the Nifty index increased by 0.2% to 22,877.75.
On the Mumbai stock exchange, 22 stocks traded at their 52-week highs, and 104 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 86.80 against the U.S. dollar.
Orient Paper & Industries Ltd. rose 1.6% to ₹25.58 after the tissue paper maker reported a slight increase in revenue in the December quarter.
Consolidated revenue increased to ₹234.6. crore from ₹207.1 crore, net loss expanded to ₹10.5 crore from ₹3.2 crore, and diluted losses per share advanced to 49 paisa from 15 paisa a year ago.
National Fertilizers Limited increased 1.3% to ₹87.75 despite the fertilizer and other agricultural inputs maker reporting a 78% plunge from a year ago in quarterly profit.
Consolidated revenue in the December quarter decreased to ₹5,883.9 crore from ₹7,598.3 crore, net income dropped to ₹30.9 crore from ₹140 crore, and diluted earnings per share fell to 63 paise from ₹2.85 a year ago.
Avanti Feeds Ltd. jumped 3.4% to ₹710.85 after the seafood company reported a 69% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,404.9 crore from ₹1,287 crore, after-tax profit rose to ₹140.8 crore from ₹83.3 crore, and diluted earnings per share jumped to ₹9.92 from ₹5.32 a year ago.
Arihant Capital Markets Limited advanced 0.7% to ₹74.57 despite the financial services provider reporting a 19% drop in revenue and a 37% decline in profit in the December quarter.
Consolidated revenue declined to ₹52 crore from ₹72.7 crore, net income fell to ₹12.3 crore from ₹19.6 crore, and diluted earnings per share decreased to ₹1.12 from ₹1.88 a year ago.
T.T. Limited dropped 1.5% to ₹12.80 after the textile company's net income swung to a profit in the December quarter.
Consolidated revenue increased to ₹56.8 crore from ₹52.4 crore, net income swung to a profit of ₹1 crore from a loss of ₹2.2 crore, and diluted earnings per share rose to an income of 47 paisa from a loss of ₹1.01 a year ago.
Hariom Pipe Industries Limited inched up 2.6% to ₹378.90 after the steel pipes and other products maker reported a 14% increase in net income in the December quarter.
Consolidated revenue advanced to ₹300.4 crore from ₹282 crore, net income increased to ₹11.2 crore from ₹9.8 crore, and diluted earnings per share rose to ₹3.63 from ₹3.17 a year ago.
Force Motors Limited edged up 0.5% to ₹6726.30, and the automotive maker reported a 14% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,904.3 crore from ₹1,695.5 crore, after-tax profit rose to ₹110.1 crore from ₹94.7 crore, and diluted earnings per share jumped to ₹83.53 from ₹71.91 a year ago.
National Aluminium Co. Ltd. gained 2.3% to ₹191.50 after the aluminum maker reported a three-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹4,761.3 crore from ₹3,397.9 crore, net income jumped to ₹1,582.9 crore from ₹488.5 crore, and diluted earnings per share rose to ₹8.62 from ₹2.66 a year ago.
- 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.