Market Update
S&P 500 Extends Weekly Losses to 4% Amid Constant Trump Chaos and Confusion
Barry Adams
07 Mar, 2025
New York City
The roller-coaster ride this week continued on Wall Street, and investors worried about the state of the U.S. economy and the damage caused by the Trump administration's tariff policies.
The S&P 500 decreased 0.6%, and the Nasdaq Composite dropped 0.7% amid worries about the resurgent inflation and confusion about Trump trade policies.
Stock market indexes walked back this week amid constant Trump tariff flip-flops, confusion about implementation plans, and chaotic economic policy of the Trump administration.
The constant confusion and chaos induced by Donald Trump have forced down the S&P 500 index by 4.2% and the Nasdaq Composite by 4.8%.
Investors are unnerved by a steady stream of updates, uncertainty about the federal government policies, and lack of clarity about the administration's future plans.
Moreover, nonfarm payrolls in February rose 151,000, higher than the downwardly revised 125,000 in the previous month, the U.S. Bureau of Labor Statistics reported Friday.
Both the unemployment rate, at 4.1%, and the number of unemployed people, at 7.1 million, changed little in February.
The unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024.
In February, average hourly wages inched up annually 4% to $35.93.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,753.60, the Nasdaq Composite edged up 0.5% to 18,152.19, and the Russell 2000 index was down 0.3% to 2,061.14.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.22%, and 30-year Treasury bonds declined to 4.54%.
WTI crude oil decreased $0.79 to $67.17 a barrel, and natural gas prices edged lower by $0.17 to $4.13 a thermal unit.
Gold increased by $2.84 to $2,913.40 an ounce, and silver edged down by $0.38 to $32.25.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.32 to 103.74 and traded at a two-year high.
U.S. Stock Movers
Walgreens Boots Alliance jumped 7% to $11.35 after the drugstore chain agreed to go private in a $10 billion deal, or $11.45 per share, with Sycamore Partners after four months of negotiations.
Nasdaq Inc. dropped 2.7% to $74.09, and the stock exchange operator announced its plans to offer 24-hour trading during weekdays, following similar announcements by the NYSE and the CBOE.
Gap Inc. jumped 12% to $21.88 after the specialty apparel retailer announced its fourth quarter results.
Net sales dropped to $4.15 billion from $4.30 billion, net income jumped to $206 million from $185 million, and earnings per diluted share rose to 54 cents from 49 cents a year ago.
Comparable sales in the quarter advanced 3%.
The company guided for the first quarter of 2025 net sales flat to up slightly, compared to $3.4 billion in 2024.
For the full year, Gap estimated sales growth between 1% and 2%, compared to $15.09 billion in 2024.
Broadcom Inc. jumped 3.5% to $185.70 after the advanced semiconductor company reported strong quarterly results, and the company offered a solid outlook for the current quarter.
Net revenue increased to $14.92 billion from $11.96 billion, net income surged to $5.50 billion from $1.32 billion, and earnings per diluted share rose to $1.14 from 28 cents a year ago.
The company approved a quarterly cash dividend of 59 cents per share, payable on March 31 to stockholders on record as of March 20.
Broadcom guided for the second quarter revenue of approximately $14.9 billion, up 19% from $12.49 billion a year ago, and adjusted EBITDA of 66% of projected revenue, compared to 59% of revenue in the same quarter in 2024.
S&P 500 Extends Weekly Losses to 4% Amid Constant Trump Chaos and Confusion
Barry Adams
07 Mar, 2025
New York City
The roller-coaster ride this week continued on Wall Street, and investors worried about the state of the U.S. economy and the damage caused by the Trump administration's tariff policies.
The S&P 500 decreased 0.6%, and the Nasdaq Composite dropped 0.7% amid worries about the resurgent inflation and confusion about Trump trade policies.
Stock market indexes walked back this week amid constant Trump tariff flip-flops, confusion about implementation plans, and chaotic economic policy of the Trump administration.
The constant confusion and chaos induced by Donald Trump have forced down the S&P 500 index by 4.2% and the Nasdaq Composite by 4.8%.
Investors are unnerved by a steady stream of updates, uncertainty about the federal government policies, and lack of clarity about the administration's future plans.
Moreover, nonfarm payrolls in February rose 151,000, higher than the downwardly revised 125,000 in the previous month, the U.S. Bureau of Labor Statistics reported Friday.
Both the unemployment rate, at 4.1%, and the number of unemployed people, at 7.1 million, changed little in February.
The unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024.
In February, average hourly wages inched up annually 4% to $35.93.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,753.60, the Nasdaq Composite edged up 0.5% to 18,152.19, and the Russell 2000 index was down 0.3% to 2,061.14.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.22%, and 30-year Treasury bonds declined to 4.54%.
WTI crude oil decreased $0.79 to $67.17 a barrel, and natural gas prices edged lower by $0.17 to $4.13 a thermal unit.
Gold increased by $2.84 to $2,913.40 an ounce, and silver edged down by $0.38 to $32.25.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.32 to 103.74 and traded at a two-year high.
U.S. Stock Movers
Walgreens Boots Alliance jumped 7% to $11.35 after the drugstore chain agreed to go private in a $10 billion deal, or $11.45 per share, with Sycamore Partners after four months of negotiations.
Nasdaq Inc. dropped 2.7% to $74.09, and the stock exchange operator announced its plans to offer 24-hour trading during weekdays, following similar announcements by the NYSE and the CBOE.
Gap Inc. jumped 12% to $21.88 after the specialty apparel retailer announced its fourth quarter results.
Net sales dropped to $4.15 billion from $4.30 billion, net income jumped to $206 million from $185 million, and earnings per diluted share rose to 54 cents from 49 cents a year ago.
Comparable sales in the quarter advanced 3%.
The company guided for the first quarter of 2025 net sales flat to up slightly, compared to $3.4 billion in 2024.
For the full year, Gap estimated sales growth between 1% and 2%, compared to $15.09 billion in 2024.
Broadcom Inc. jumped 3.5% to $185.70 after the advanced semiconductor company reported strong quarterly results, and the company offered a solid outlook for the current quarter.
Net revenue increased to $14.92 billion from $11.96 billion, net income surged to $5.50 billion from $1.32 billion, and earnings per diluted share rose to $1.14 from 28 cents a year ago.
The company approved a quarterly cash dividend of 59 cents per share, payable on March 31 to stockholders on record as of March 20.
Broadcom guided for the second quarter revenue of approximately $14.9 billion, up 19% from $12.49 billion a year ago, and adjusted EBITDA of 66% of projected revenue, compared to 59% of revenue in the same quarter in 2024.
US NEW YORK
Barry Adams
07 Mar, 2025
New York City
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,753.60, the Nasdaq Composite edged up 0.5% to 18,152.19, and the Russell 2000 index was down 0.3% to 2,061.14.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.22%, and 30-year Treasury bonds declined to 4.54%.
WTI crude oil decreased $0.79 to $67.17 a barrel, and natural gas prices edged lower by $0.17 to $4.13 a thermal unit.
Gold increased by $2.84 to 2,913.40 an ounce, and silver edged down by $0.38 to $32.25.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.32 to 103.74 and traded at a two-year high.
U.S. Movers: Broadcom, Burlington Stores, Costco, JD.com, Kroger, Fastenal, Gap, Macy's, Marvell Technology, Victoria's Secret, Zscaler
Scott Peters
07 Mar, 2025
New York City
Fastenal Co. eased 0.1% to $77.75 after the logistics company reported increased revenue in fiscal 2024.
Net sales jumped 2.7% to $7.55 billion from $7.35 billion, net income declined 0.4% to $1.50 billion from $1.55 billion, and earnings per diluted share dropped 0.6% to $2.00 from $2.02 a year ago.
The company paid a cash dividend of $1.56 per share in 2024 for a total of $893.3 million, compared to $1.78 per share or $1.02 billion in 2023.
Victoria's Secret & Co. dropped 3.2% to $21.50 despite the lingerie retailer reporting a comparable sales increase of 5% in the fiscal fourth quarter of 2024.
Revenue in the quarter jumped to $2.11 billion from $2.08 billion, net income increased to $193 million from $181 million, and earnings per diluted share rose to $2.33 from $2.29 a year ago.
The company guided for the first quarter of 2025 net sales between $1.30 billion and $1.33 billion, compared to $1.36 billion a year ago, and adjusted operating income between $10 million and $30 million, compared to $39.61 million in the same quarter in 2024.
For the full year, Victoria’s Secret estimated net sales between $6.2 billion and $6.3 billion, compared to $6.20 billion a year ago, and adjusted operating income between $300 million and $350 million, compared to $373.14 million year-to-date in 2024.
Marvell Technology Inc. plunged 17.9% to $74.00 despite the provider of data infrastructure semiconductor solutions reporting a 27% revenue increase in the fiscal fourth quarter of 2025.
Revenue increased to $1.82 billion from $1.43 billion, net income swung to a profit of $200.2 million from a loss of $392.7 million, and earnings per diluted share jumped to a profit of 23 cents from a loss of 45 cents a year ago.
The company guided for the first quarter of 2026 revenue of $1.87 billion with a band of 5%, compared to $1.16 billion a year ago, and non-GAAP diluted net income per share at 61 cents with a band of 5 cents, compared to 24 cents in the same quarter in 2025.
Zscaler Inc. surged 3.5% to $203.28 after the cloud security company reported a 23% revenue increase in the fiscal second quarter of 2025.
Revenue increased to $647.90 million from $524.99 million, net loss shrank to $7.72 million from a loss of $28.47 million, and loss per share declined to 5 cents from a loss of 19 cents a year ago.
The company guided for the third quarter revenue between $665 million and $667 million, compared to $553.2 million a year ago, and non-GAAP net income per share between 75 cents and 76 cents, down from 88 cents in the same quarter in 2024.
Non-GAAP income from operations is expected to be between $140 million and $142 million, up from $139.8 million in the third quarter of 2024.
For the full year, Zscaler estimated revenue between $2.64 billion and $2.65 billion, up from $2.17 billion a year ago, and non-GAAP net income per share between $3.04 and $3.09, down from $3.19 in 2024.
Non-GAAP income from operations is expected to be between $562 million and $572 million, up from $508.1 million in 2024.
The Gap Inc. surged 18.6% to $23.11 after the specialty apparel retailer reported results for the fiscal fourth quarter of 2024.
Net sales dropped to $4.15 billion from $4.30 billion, net income jumped to $206 million from $185 million, and earnings per diluted share rose to 54 cents from 49 cents a year ago.
Comparable sales in the quarter advanced 3%.
The company guided for the first quarter of 2025 net sales flat to up slightly, compared to $3.4 billion in 2024.
For the full year, Gap estimated sales growth between 1% and 2%, compared to $15.09 billion in 2024.
The Kroger Co. gained 18.6% to $23.11 after the food retailer reported results for the fiscal fourth quarter of 2024.
Revenue declined to $34.31 billion from $37.06 billion, net earnings dropped to $634 million from $736 million, and earnings per diluted share fell to 90 cents from $1.01 a year ago.
The company declared a dividend of 32 cents per share in the quarter, up from 29 cents per share a year ago.
During the year, the company commenced a $5.0 billion accelerated share repurchase program to be completed under its $7.5 billion share repurchase authorization.
Costco Wholesale Corp. dropped 1.2% to $1,014 after the wholesale retailer reported results for the fiscal second quarter of 2025.
Revenue increased to $63.72 billion from $58.44 billion, net income climbed to $1.79 billion from $1.74 billion, and earnings per diluted share rose to $4.02 from $3.92 a year ago.
Comparable sales in the second quarter rose 6.8%, as U.S. sales increased 8.3%, Canada up 4.6%, and other international up 1.7%.
E-commerce sales in the quarter rose 20.9%.
Comparable sales in February rose 6.5%, as U.S. sales increased 8.6%, Canada up 3.2%, and other international down 0.6%.
E-commerce sales in February jumped 19%.
Burlington Stores Inc. gained 0.6% to $259.25 after the off-price apparel and accessories retailer reported sales growth in the fiscal fourth quarter of 2024.
Revenue increased to $3.28 billion from $3.12 billion, net income jumped to $260.77 million from $227.46 million, and earnings per diluted share rose to $4.02 from $3.53 a year ago.
Fourth-quarter comparable store sales grew 6% versus guidance of zero to 2%.
The company guided for the first quarter of 2025 total sales growth between 5% and 7%, assuming flat comparable store sales, compared to $2.36 billion in the same quarter in 2024.
Adjusted earnings per share are expected to be between $1.30 and $1.45, compared to $1.35 per share last year.
Burlington said revenue in the full year is expected to increase between 6% and 8%, assuming comparable store sales would increase between zero and 2%, compared to $10.62 billion in 2024.
Adjusted earnings per share for the full year are expected to be between $8.70 and $9.30, compared to $8.17 per share a year ago.
Macy's Inc. gained 0.2% to $13.25 after the department store chain reported lower sales in the fiscal fourth quarter of 2024.
Revenue declined to $8.00 billion from $8.37 billion, net income swung to a profit of $342 million from a loss of $128 million, and earnings per diluted share rose to $1.21 from a loss of 47 cents a year ago.
Macy’s First 50 locations delivered the fourth consecutive quarter of comparable sales growth, up 0.8% on an owned basis and up 1.2% on an owned-plus-licensed basis.
The retailer reported fourth-quarter comparable sales down 1.1% on an owned basis, while its owned-plus-licensed-plus-marketplace comparable sales since the first quarter of 2022 were up 0.2%.
Bloomingdale’s reported owned comparable sales grew 4.8%, and its highest fourth quarter owned-plus-licensed-plus-marketplace comparable sales growth was 6.5%.
Blue Mercury reported its 16th consecutive quarter of comparable sales growth, up 6.2%.
The company guided for fiscal 2025 net sales between $21.0 billion and $21.4 billion, down from $22.29 billion in 2024, and adjusted earnings per diluted share between $2.05 and $2.25, down from $2.64 in 2024.
The outlook reflects the impact of fiscal 2024 store closures, which contributed roughly $700 million of annual net sales.
Macy’s plans to resume share buybacks under its remaining $1.4 billion share repurchase authorization.
JD.com Inc. eased 0.5% to $43.69 after the Chinese retailer reported results for the fiscal fourth quarter of 2024.
Revenue increased to 346.99 billion yuan from 306.08 billion yuan, net income surged to 9.85 billion yuan from 3.39 billion yuan, and earnings per diluted share rose to 6.47 yuan from 2.13 yuan a year ago.
The company approved an annual cash dividend of 5 cents per share, or $1.0 per ADS, for 2024, payable on April 23 and April 29 (ADS) to shareholders on record as of April 8.
Broadcom Inc. surged 10.9% to $199.07 after the provider of semiconductor and infrastructure software solutions reported results for the fiscal first quarter of 2025.
Net revenue increased to $14.92 billion from $11.96 billion, net income surged to $5.50 billion from $1.32 billion, and earnings per diluted share rose to $1.14 from 28 cents a year ago.
The company approved a quarterly cash dividend of 59 cents per share, payable on March 31 to stockholders on record as of March 20.
Broadcom guided for the second quarter revenue of approximately $14.9 billion, up 19% from $12.49 billion a year ago, and adjusted EBITDA of 66% of projected revenue, compared to 59% of revenue in the same quarter in 2024.
U.S. Movers: Broadcom, Burlington Stores, Costco, JD.com, Kroger, Fastenal, Gap, Macy's, Marvell Technology, Victoria's Secret, Zscaler
Scott Peters
07 Mar, 2025
New York City
Fastenal Co. eased 0.1% to $77.75 after the logistics company reported increased revenue in fiscal 2024.
Net sales jumped 2.7% to $7.55 billion from $7.35 billion, net income declined 0.4% to $1.50 billion from $1.55 billion, and earnings per diluted share dropped 0.6% to $2.00 from $2.02 a year ago.
The company paid a cash dividend of $1.56 per share in 2024 for a total of $893.3 million, compared to $1.78 per share or $1.02 billion in 2023.
Victoria's Secret & Co. dropped 3.2% to $21.50 despite the lingerie retailer reporting a comparable sales increase of 5% in the fiscal fourth quarter of 2024.
Revenue in the quarter jumped to $2.11 billion from $2.08 billion, net income increased to $193 million from $181 million, and earnings per diluted share rose to $2.33 from $2.29 a year ago.
The company guided for the first quarter of 2025 net sales between $1.30 billion and $1.33 billion, compared to $1.36 billion a year ago, and adjusted operating income between $10 million and $30 million, compared to $39.61 million in the same quarter in 2024.
For the full year, Victoria’s Secret estimated net sales between $6.2 billion and $6.3 billion, compared to $6.20 billion a year ago, and adjusted operating income between $300 million and $350 million, compared to $373.14 million year-to-date in 2024.
Marvell Technology Inc. plunged 17.9% to $74.00 despite the provider of data infrastructure semiconductor solutions reporting a 27% revenue increase in the fiscal fourth quarter of 2025.
Revenue increased to $1.82 billion from $1.43 billion, net income swung to a profit of $200.2 million from a loss of $392.7 million, and earnings per diluted share jumped to a profit of 23 cents from a loss of 45 cents a year ago.
The company guided for the first quarter of 2026 revenue of $1.87 billion with a band of 5%, compared to $1.16 billion a year ago, and non-GAAP diluted net income per share at 61 cents with a band of 5 cents, compared to 24 cents in the same quarter in 2025.
Zscaler Inc. surged 3.5% to $203.28 after the cloud security company reported a 23% revenue increase in the fiscal second quarter of 2025.
Revenue increased to $647.90 million from $524.99 million, net loss shrank to $7.72 million from a loss of $28.47 million, and loss per share declined to 5 cents from a loss of 19 cents a year ago.
The company guided for the third quarter revenue between $665 million and $667 million, compared to $553.2 million a year ago, and non-GAAP net income per share between 75 cents and 76 cents, down from 88 cents in the same quarter in 2024.
Non-GAAP income from operations is expected to be between $140 million and $142 million, up from $139.8 million in the third quarter of 2024.
For the full year, Zscaler estimated revenue between $2.64 billion and $2.65 billion, up from $2.17 billion a year ago, and non-GAAP net income per share between $3.04 and $3.09, down from $3.19 in 2024.
Non-GAAP income from operations is expected to be between $562 million and $572 million, up from $508.1 million in 2024.
The Gap Inc. surged 18.6% to $23.11 after the specialty apparel retailer reported results for the fiscal fourth quarter of 2024.
Net sales dropped to $4.15 billion from $4.30 billion, net income jumped to $206 million from $185 million, and earnings per diluted share rose to 54 cents from 49 cents a year ago.
Comparable sales in the quarter advanced 3%.
The company guided for the first quarter of 2025 net sales flat to up slightly, compared to $3.4 billion in 2024.
For the full year, Gap estimated sales growth between 1% and 2%, compared to $15.09 billion in 2024.
The Kroger Co. gained 18.6% to $23.11 after the food retailer reported results for the fiscal fourth quarter of 2024.
Revenue declined to $34.31 billion from $37.06 billion, net earnings dropped to $634 million from $736 million, and earnings per diluted share fell to 90 cents from $1.01 a year ago.
The company declared a dividend of 32 cents per share in the quarter, up from 29 cents per share a year ago.
During the year, the company commenced a $5.0 billion accelerated share repurchase program to be completed under its $7.5 billion share repurchase authorization.
Costco Wholesale Corp. dropped 1.2% to $1,014 after the wholesale retailer reported results for the fiscal second quarter of 2025.
Revenue increased to $63.72 billion from $58.44 billion, net income climbed to $1.79 billion from $1.74 billion, and earnings per diluted share rose to $4.02 from $3.92 a year ago.
Comparable sales in the second quarter rose 6.8%, as U.S. sales increased 8.3%, Canada up 4.6%, and other international up 1.7%.
E-commerce sales in the quarter rose 20.9%.
Comparable sales in February rose 6.5%, as U.S. sales increased 8.6%, Canada up 3.2%, and other international down 0.6%.
E-commerce sales in February jumped 19%.
Burlington Stores Inc. gained 0.6% to $259.25 after the off-price apparel and accessories retailer reported sales growth in the fiscal fourth quarter of 2024.
Revenue increased to $3.28 billion from $3.12 billion, net income jumped to $260.77 million from $227.46 million, and earnings per diluted share rose to $4.02 from $3.53 a year ago.
Fourth-quarter comparable store sales grew 6% versus guidance of zero to 2%.
The company guided for the first quarter of 2025 total sales growth between 5% and 7%, assuming flat comparable store sales, compared to $2.36 billion in the same quarter in 2024.
Adjusted earnings per share are expected to be between $1.30 and $1.45, compared to $1.35 per share last year.
Burlington said revenue in the full year is expected to increase between 6% and 8%, assuming comparable store sales would increase between zero and 2%, compared to $10.62 billion in 2024.
Adjusted earnings per share for the full year are expected to be between $8.70 and $9.30, compared to $8.17 per share a year ago.
Macy's Inc. gained 0.2% to $13.25 after the department store chain reported lower sales in the fiscal fourth quarter of 2024.
Revenue declined to $8.00 billion from $8.37 billion, net income swung to a profit of $342 million from a loss of $128 million, and earnings per diluted share rose to $1.21 from a loss of 47 cents a year ago.
Macy’s First 50 locations delivered the fourth consecutive quarter of comparable sales growth, up 0.8% on an owned basis and up 1.2% on an owned-plus-licensed basis.
The retailer reported fourth-quarter comparable sales down 1.1% on an owned basis, while its owned-plus-licensed-plus-marketplace comparable sales since the first quarter of 2022 were up 0.2%.
Bloomingdale’s reported owned comparable sales grew 4.8%, and its highest fourth quarter owned-plus-licensed-plus-marketplace comparable sales growth was 6.5%.
Blue Mercury reported its 16th consecutive quarter of comparable sales growth, up 6.2%.
The company guided for fiscal 2025 net sales between $21.0 billion and $21.4 billion, down from $22.29 billion in 2024, and adjusted earnings per diluted share between $2.05 and $2.25, down from $2.64 in 2024.
The outlook reflects the impact of fiscal 2024 store closures, which contributed roughly $700 million of annual net sales.
Macy’s plans to resume share buybacks under its remaining $1.4 billion share repurchase authorization.
JD.com Inc. eased 0.5% to $43.69 after the Chinese retailer reported results for the fiscal fourth quarter of 2024.
Revenue increased to 346.99 billion yuan from 306.08 billion yuan, net income surged to 9.85 billion yuan from 3.39 billion yuan, and earnings per diluted share rose to 6.47 yuan from 2.13 yuan a year ago.
The company approved an annual cash dividend of 5 cents per share, or $1.0 per ADS, for 2024, payable on April 23 and April 29 (ADS) to shareholders on record as of April 8.
Broadcom Inc. surged 10.9% to $199.07 after the provider of semiconductor and infrastructure software solutions reported results for the fiscal first quarter of 2025.
Net revenue increased to $14.92 billion from $11.96 billion, net income surged to $5.50 billion from $1.32 billion, and earnings per diluted share rose to $1.14 from 28 cents a year ago.
The company approved a quarterly cash dividend of 59 cents per share, payable on March 31 to stockholders on record as of March 20.
Broadcom guided for the second quarter revenue of approximately $14.9 billion, up 19% from $12.49 billion a year ago, and adjusted EBITDA of 66% of projected revenue, compared to 59% of revenue in the same quarter in 2024.
Europe Movers: Air France- KLM, Azimut Holding, Dassault Aviation, Entain PLC, Just Group, Vivendi
Inga Muller
07 Mar, 2025
Frankfurt
Dassault Aviation SA surged 3.3% to €296.60 after the French manufacturer of military aircraft and business jets reported increased revenue in fiscal 2024.
Net sales jumped to €6.23 billion from €4.80 billion, net income climbed to €1.06 billion from €886 million, and earnings per share rose to €13.46 from €10.95 a year ago.
The company paid dividends of €4.72 per share for a total of €370 million in 2024, compared to €3.37 per share or €266 million in 2023.
Azimut Holding SpA surged 3% to €26.74 after the Italy-based asset management company reported increased revenue in the fourth quarter of 2024.
Revenue jumped to €415.59 million from €347.03 million, and net profit climbed to €143.07 million from €99.81 million a year ago.
A dividend of €1.75 per share will be paid in May.
In 2025, the company plans to expand in two new markets, one in Africa and one in Asia.
Air France-KLM dropped 4% to €11.67 despite the French airline company reporting higher revenue in the fiscal fourth quarter of 2024.
Revenue increased 6% to €7.88 billion from €7.41 billion, and net loss shrank by 75% to €63 million from a loss of €256 million.
Passengers carried in the quarter increased by 5.1% to 23.486 million from 22.347 million a year ago.
The company guided for the period 2026-2028 an operating margin above 8% and adjusted operating free cash flow significantly positive, in line with its 2023 forecast.
Vivendi SA surged 3.5% to €2.94 after the French content, media, and entertainment company reported results for fiscal 2024.
Revenue declined 4.9% to €297 million from €312 million, earnings swung to a loss of €6.00 billion from a profit of €405 million, and loss per diluted share was €5.96 compared to a profit of 39 cents a year ago.
The company proposed an ordinary dividend of 4 cents per share for 2024 for a total of €40 million, payable from May 2 with the ex-dividend date April 29.
In addition, Vivendi will ask shareholders to repurchase shares at a maximum price of €4 per share, up to a limit of 10% of the share capital (2025-2026 program), with the option of canceling the shares acquired up to a limit of 10% of the capital.
In 2024, share buybacks totaled €342.2 million, or 35 million shares, including 25 million shares as part of the current program (2024-2025) for €243 million.
As of March 6, Vivendi directly holds 38.1 million shares, or 3.70% of its share capital.
In 2024, dividends received from unconsolidated companies and equity affiliates were €167 million, including dividends from Universal Music Group (€93 million), Banijay Group (€28 million), MediaForEurope (€28 million), and Telefonica (€18 million).
Just Group Plc. plunged 13.6% to 141.0 pence after the UK-based financial services company reported results for the fiscal year 2024.
Insurance revenue increased to £1.81 billion from £1.55 billion, profit slumped to £80 million from £129 million, and earnings per diluted share dropped to 6.5 pence from 11.2 pence a year ago.
Retirement income sales jumped 36% to £5.3 billion from £3.9 billion in 2023, while new business margins were slightly lower at 8.7%, compared to 9.1% in the previous year, principally driven by business mix.
These combined reflected a 30% increase in new business profits to £460 million, up from £355 million in 2023.
Just Group proposed a dividend of 2.5 pence per share, or 20% higher than the previous year.
Entain Plc. dropped 1.7% to 717.60 pence after the sports betting and gaming group reported increased revenue in fiscal 2024.
Net gaming revenue jumped to £5.16 billion from £4.83 billion, net loss shrank to £452.7 million from a loss of £928.6 million, and loss per diluted share was 70.8 pence compared to a loss of 141.4 pence a year ago.
The company guided for fiscal 2025 annual adjusted cash flow of over £0.5 billion in the medium term.
Europe Movers: Air France- KLM, Azimut Holding, Dassault Aviation, Entain PLC, Just Group, Vivendi
Inga Muller
07 Mar, 2025
Frankfurt
Dassault Aviation SA surged 3.3% to €296.60 after the French manufacturer of military aircraft and business jets reported increased revenue in fiscal 2024.
Net sales jumped to €6.23 billion from €4.80 billion, net income climbed to €1.06 billion from €886 million, and earnings per share rose to €13.46 from €10.95 a year ago.
The company paid dividends of €4.72 per share for a total of €370 million in 2024, compared to €3.37 per share or €266 million in 2023.
Azimut Holding SpA surged 3% to €26.74 after the Italy-based asset management company reported increased revenue in the fourth quarter of 2024.
Revenue jumped to €415.59 million from €347.03 million, and net profit climbed to €143.07 million from €99.81 million a year ago.
A dividend of €1.75 per share will be paid in May.
In 2025, the company plans to expand in two new markets, one in Africa and one in Asia.
Air France-KLM dropped 4% to €11.67 despite the French airline company reporting higher revenue in the fiscal fourth quarter of 2024.
Revenue increased 6% to €7.88 billion from €7.41 billion, and net loss shrank by 75% to €63 million from a loss of €256 million.
Passengers carried in the quarter increased by 5.1% to 23.486 million from 22.347 million a year ago.
The company guided for the period 2026-2028 an operating margin above 8% and adjusted operating free cash flow significantly positive, in line with its 2023 forecast.
Vivendi SA surged 3.5% to €2.94 after the French content, media, and entertainment company reported results for fiscal 2024.
Revenue declined 4.9% to €297 million from €312 million, earnings swung to a loss of €6.00 billion from a profit of €405 million, and loss per diluted share was €5.96 compared to a profit of 39 cents a year ago.
The company proposed an ordinary dividend of 4 cents per share for 2024 for a total of €40 million, payable from May 2 with the ex-dividend date April 29.
In addition, Vivendi will ask shareholders to repurchase shares at a maximum price of €4 per share, up to a limit of 10% of the share capital (2025-2026 program), with the option of canceling the shares acquired up to a limit of 10% of the capital.
In 2024, share buybacks totaled €342.2 million, or 35 million shares, including 25 million shares as part of the current program (2024-2025) for €243 million.
As of March 6, Vivendi directly holds 38.1 million shares, or 3.70% of its share capital.
In 2024, dividends received from unconsolidated companies and equity affiliates were €167 million, including dividends from Universal Music Group (€93 million), Banijay Group (€28 million), MediaForEurope (€28 million), and Telefonica (€18 million).
Just Group Plc. plunged 13.6% to 141.0 pence after the UK-based financial services company reported results for the fiscal year 2024.
Insurance revenue increased to £1.81 billion from £1.55 billion, profit slumped to £80 million from £129 million, and earnings per diluted share dropped to 6.5 pence from 11.2 pence a year ago.
Retirement income sales jumped 36% to £5.3 billion from £3.9 billion in 2023, while new business margins were slightly lower at 8.7%, compared to 9.1% in the previous year, principally driven by business mix.
These combined reflected a 30% increase in new business profits to £460 million, up from £355 million in 2023.
Just Group proposed a dividend of 2.5 pence per share, or 20% higher than the previous year.
Entain Plc. dropped 1.7% to 717.60 pence after the sports betting and gaming group reported increased revenue in fiscal 2024.
Net gaming revenue jumped to £5.16 billion from £4.83 billion, net loss shrank to £452.7 million from a loss of £928.6 million, and loss per diluted share was 70.8 pence compared to a loss of 141.4 pence a year ago.
The company guided for fiscal 2025 annual adjusted cash flow of over £0.5 billion in the medium term.
European Leaders Pledge €800 Billion for Military Spending, Ferragamo Plunged 15%
Bridgette Randall
07 Mar, 2025
London
Market sentiment on European bourses was weak amid persistent geopolitical uncertainty, and the euro booked its best weekly gain in 16 years.
Benchmark indexes in Frankfurt and Paris fell more than 1%, and they in Milan and London declined 0.5%, as ongoing uncertainty surrounding U.S. trade policy weighed.
European leaders reaffirmed their military and financial support for Ukraine in an emergency meeting on Thursday.
A coalition of 27 nations, led by France and the UK, announced their commitment to provide multi-billion euros in military assistance over the coming months.
A summit of the European Council approved the ReArm Europe plan with an expected investment of €800 billion.
Earlier in the week, Friedrich Merz, leader of the CDU party and the likely Chancellor of the new coalition government, proposed to set up a 500 billion fund.
The German fund will provide capital for domestic infrastructure projects and spend for arms, which could be provided to Ukraine's military.
Defense stocks continued to stay near record highs amid expectations that Germany, France, and the UK will accelerate military spending after the U.S. announced its unwillingness to provide assistance to Ukraine.
For the week, the DAX index rose 1.5%, the CAC 40 index edged up 0.1%, and the FTSE 100 index dropped 2%.
Europe Indexes and Yields
The DAX index decreased by 1.5% to 23,061.27, the CAC-40 index edged lower 1% to 8,116.89; and the FTSE 100 index declined by 0.5% to 8,642.73.
The yield on 10-year German bonds inched lower to 2.83%, French bonds decreased to 3.54%, the UK gilts moved up to 4.66%, and Italian bonds edged lower to 3.88%.
The euro increased to $1.08; the British pound was higher at $1.29; and the U.S. dollar was lower and traded at 87.93 Swiss cents.
Brent crude increased $1.09 to $70.55 a barrel, and the Dutch TTF natural gas was higher by €1.62 to €39.41 per MWh.
Europe Stock Movers
Luxury goods stocks fell sharply after Salvatore Ferragamo SpA unexpectedly announced losses in 2024.
Ferragamo SA dropped 15% to €6.33 after the Italian luxury apparel, footwear, and accessories company's sales declined 10.5% to €1.03 billion.
Zalando SE decreased 1.8% to €32.52 after the German online apparel retailer confirmed it secured 90% of the share capital of About You in its public takeover offer.
Vivendi SE rose 2.4% to €2.91, and the diversified French conglomerate reported a €6 billion loss in 2024 after a four-way spinoff late last year.
Flughafen Zurich AG declined 3% to CHF 210.80 after the parent company of Zurich airport's 2025 outlook fell short of investors' expectations.
Air France KLM SA declined 6.7% to €11.33 and reversed gains in the previous session, after the airline group reported narrower-than-expected losses in 2024.
European Leaders Pledge €800 Billion for Military Spending, Ferragamo Plunged 15%
Bridgette Randall
07 Mar, 2025
London
Market sentiment on European bourses was weak amid persistent geopolitical uncertainty, and the euro booked its best weekly gain in 16 years.
Benchmark indexes in Frankfurt and Paris fell more than 1%, and they in Milan and London declined 0.5%, as ongoing uncertainty surrounding U.S. trade policy weighed.
European leaders reaffirmed their military and financial support for Ukraine in an emergency meeting on Thursday.
A coalition of 27 nations, led by France and the UK, announced their commitment to provide multi-billion euros in military assistance over the coming months.
A summit of the European Council approved the ReArm Europe plan with an expected investment of €800 billion.
Earlier in the week, Friedrich Merz, leader of the CDU party and the likely Chancellor of the new coalition government, proposed to set up a 500 billion fund.
The German fund will provide capital for domestic infrastructure projects and spend for arms, which could be provided to Ukraine's military.
Defense stocks continued to stay near record highs amid expectations that Germany, France, and the UK will accelerate military spending after the U.S. announced its unwillingness to provide assistance to Ukraine.
Europe Stock Movers
Luxury goods stocks fell sharply after Salvatore Ferragamo SpA unexpectedly announced losses in 2024.
Ferragamo SA dropped 15% to €6.33 after the Italian luxury apparel, footwear, and accessories company's sales declined 10.5% to €1.03 billion.
Zalando SE decreased 1.8% to €32.52 after the German online apparel retailer confirmed it secured 90% of the share capital of About You in its public takeover offer.
Vivendi SE rose 2.4% to €2.91, and the diversified French conglomerate reported a €6 billion loss in 2024 after a four-way spinoff late last year.
Flughafen Zurich AG declined 3% to CHF 210.80 after the parent company of Zurich airport's 2025 outlook fell short of investors' expectations.
Air France KLM SA declined 6.7% to €11.33 and reversed gains in the previous session, after the airline group reported narrower-than-expected losses in 2024.
Rising Yen and Tech Weakness Dragged Down Nikkei 225 Index
Akira Ito
07 Mar, 2025
Tokyo
Stock market indexes in Tokyo plunged more than 2% following steep losses in tech stocks in overnight trading on Wall Street.
The Nikkei 225 stock average dropped 2.2%, and the broader TOPIX declined 1.6% after semiconductor-linked stocks plunged amid weakness in New York.
Market indexes were also under pressure in the growing belief that the Bank of Japan is more likely to raise interest rates at the next meeting later in the month.
Economy Minister Ryosei Azakawa said that Japan is set to officially declare the end of long-term deflation, shifting the government's stance on the economy.
The yen closed at 147.47 against the U.S. dollar in choppy trading and extended this year's gain to 5%.
Japan has been struggling with long-term deflation for nearly three decades, forcing the central bank to keep negative interest rates for eight years between March 2016 and March 2024.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.2% to 36,887.17, and the broader TOPIX dropped 1.6% to 2,708.59.
Stocks in Tokyo fell sharply across the board, and export-sensitive stocks led the decliners.
Sony Group Corp. fell 4.4% to ¥3,569.0, IHI Corp. fell 5% to ¥10,835.0, and Nintendo dropped 9% to ¥10,335.0.
Rising Yen and Tech Weakness Dragged Down Nikkei 225 Index
Akira Ito
07 Mar, 2025
Tokyo
Stock market indexes in Tokyo plunged more than 2% following steep losses in tech stocks in overnight trading on Wall Street.
The Nikkei 225 stock average dropped 2.2%, and the broader TOPIX declined 1.6% after semiconductor-linked stocks plunged amid weakness in New York.
Market indexes were also under pressure in the growing belief that the Bank of Japan is more likely to raise interest rates at the next meeting later in the month.
Economy Minister Ryosei Azakawa said that Japan is set to officially declare the end of long-term deflation, shifting the government's stance on the economy.
The yen closed at 147.47 against the U.S. dollar in choppy trading and extended this year's gain to 5%.
Japan has been struggling with long-term deflation for nearly three decades, forcing the central bank to keep negative interest rates for eight years between March 2016 and March 2024.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.2% to 36,887.17, and the broader TOPIX dropped 1.6% to 2,708.59.
Stocks in Tokyo fell sharply across the board, and export-sensitive stocks led the decliners.
Sony Group Corp. fell 4.4% to ¥3,569.0, IHI Corp. fell 5% to ¥10,835.0, and Nintendo dropped 9% to ¥10,335.0.
Hang Seng Index Trimmed Weekly Advance to 4%, Sharp Slowdown In China's Exports In Jan-Feb Period
Li Chen
07 Mar, 2025
Hong Kong