Market Update
India Movers: BF Utilities, OK Play, Anand Rathi, United Spirits, Sona BLW, 20 Microns, Capri Global
Arun Goswami
15 Apr, 2025
Mumbai
BF Utilities Ltd. increased 1.4% to ₹759.10 after the wind power generator and infrastructure activities operator reported a rise in net income in the latest quarter.
Consolidated revenue eased to ₹216.3 crore from ₹250.7 crore, net income jumped to ₹83.9 crore from ₹76 crore, and diluted earnings per share rose to ₹9.21 from ₹9.91 a year ago.
OK Play India Ltd. rose 1.4% to ₹11.75 despite the plastic products maker reporting a four-fold increase in net loss in the fiscal fourth quarter.
Consolidated revenue in the March quarter decreased to ₹58.8 crore from ₹60.32 crore, and net loss expanded to ₹2.7 crore from ₹0.7 crore, and diluted losses per share expanded to 7 paise from a loss of 1 paisa a year ago.
For the fiscal year 2025, revenue declined to ₹175.1 crore from ₹185 crore, and net loss declined to ₹0.8 crore from ₹1.1 crore. Diluted losses per share dropped to ₹2 paise from ₹4 paise a year ago.
Anand Rathi Wealth Ltd. fell 1.1% to ₹1,785 despite the wealth management company reporting a 30% increase in net income in the March quarter.
Consolidated revenue in the March quarter increased to ₹241.4 crore from ₹197.2 crore, and profit after tax advanced to ₹73.7 crore from ₹56.8 crore, and diluted earnings per share rose to ₹8.87 from ₹6.80 a year ago.
For the fiscal year 2025, revenue advanced to ₹980.7 crore from ₹752 crore, profit after tax increased to ₹300.8 crore from ₹225.8 crore, and diluted earnings per share soared to ₹36.17 from ₹27.02 a year ago.
The company's board declared a final dividend of ₹5 per share.
Tata Consultancy Services rose 0.7% to ₹3,254.90 after the IT services, consulting, infrastructure, and business solutions provider reported a slight increase in revenue and a marginal decline in net income in the March quarter.
Consolidated revenue in the March quarter increased to ₹65,507 crore from ₹62,394 crore, profit after tax declined to ₹12,293 crore from ₹12,502 crore, and diluted earnings per share fell to ₹33.79 crore from ₹34.37 a year ago.
For the fiscal year 2025, revenue advanced to ₹2,59,286 crore from ₹2,45,315 crore, profit after tax rose to ₹48,797 crore from ₹46,099 crore, and diluted earnings per share soared to ₹134.19 from ₹125.88 a year ago.
The company's board recommended a final dividend of ₹26 per share.
United Spirits Ltd. rose 0.7% to ₹1,486 after the alcoholic beverage manufacturer reported an 11% increase in revenue and a marginal decline in net income in the December quarter.
Consolidated revenue advanced to ₹7,804 crore from ₹7,014 crore, net income declined to ₹335 crore from ₹350 crore, and diluted earnings per share fell to ₹4.72 from ₹4.93 a year ago.
Sona BLW Precision Forgings Ltd. jumped 7% to ₹460.20 after the automotive component company reported a slight increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹914.7 crore from ₹781.5 crore, net income jumped to ₹150.7 crore from ₹133.5 crore, and diluted earnings per share rose to ₹2.43 from ₹2.26 a year ago.
The company's board declared an interim dividend of ₹1.60 per share.
20 Microns Ltd. inched higher 4.3% to ₹203.50 after the mineral and chemical manufacturers reported a 30% advance in net income in the December quarter.
Consolidated revenue advanced to ₹216.1 crore from ₹175.3 crore, after-tax profit increased to ₹12.9 crore from ₹11.5 crore, and diluted earnings per share rose to ₹3.65 from ₹3.25 a year ago.
Capri Global Capital Limited gained 1.2% to ₹158.90 after the non-banking financial company reported an 89% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹821.8 crore from ₹605.9 crore, after-tax profit increased to ₹128 crore from ₹67.9 crore, and diluted earnings per share rose to ₹1.54 from 85 paise a year ago.
Japan Indexes Advance Ahead of US-Japan Trade Negotiations Later This Week
Akira Ito
15 Apr, 2025
Tokyo
Japan's market indexes advanced in Tokyo, tracking gains in overnight trading in New York amid ongoing U.S. tariff turmoil.
The Nikkei 225 Stock Average advanced 1%, and the broader TOPIX index gained 1.2% after the Trump administration announced yet another change in its trade policy.
Stocks advanced in Monday's trading after the U.S. paused country-specific tariffs on smartphones, computers, and chips but also cautioned that additional tariffs may be imposed at a later date.
In addition, White House administration officials signaled that the U.S. may announce the pause of 25% tariffs on automobile imports as early as this week.
The Trump administration's credibility is very low while the officials promote the benefits of tariffs in reviving the manufacturing sector but at the same time negotiate with its trading partners to lower tariffs in exchange for other concessions.
With the Trump administration's plan to keep the trade policy uncertainty high, few businesses will take a plunge in shifting their manufacturing operations to the U.S.
Investors hoped that the US-Japan trade negotiations later this week will succeed in finalizing tariffs and rules of engagement and provide certainty for the next two years.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1% to 34,313.19, and the broader TOPIX index advanced 1.2% to 2,517.80.
Automobile manufacturing-related companies traded higher on speculation that the U.S. is likely to pause 25% tariffs on imports for the next 90 days.
Toyota Motor gained 4.8% to ¥2,525.0, Honda Motor advanced 4% to ¥1,371.50, and Nissan Motor increased 2.2% to ¥322.40.
Banks traded higher tracking gains in the yen, and the Japanese currency traded at 143.08 against the U.S. dollar, and the yield on 10-year Japanese government bonds hovered at 1.35%.
Sumitomo Mitsui Financial Group gained 3.4% to ¥3,226.0, Mitsubishi UFJ Financial Group gained 2.7% to ¥1,691.50, and Mizuho Financial Group inched higher by 3.3% to ¥3,403.0.
Marubeni Corp. gained 1.4% to ¥2,244.0, Itochu Corp. added 0.1% to ¥6,555.0, Mitsui & Company advanced 0.8% to ¥2,651.0, and Sumitomo Corp. inched higher 0.4% to ¥3,230.0.
Japan Indexes Advance Ahead of US-Japan Trade Negotiations Later This Week
Akira Ito
15 Apr, 2025
Tokyo
Japan's market indexes advanced in Tokyo, tracking gains in overnight trading in New York amid ongoing U.S. tariff turmoil.
The Nikkei 225 Stock Average advanced 1%, and the broader TOPIX index gained 1.2% after the Trump administration announced yet another change in its trade policy.
Stocks advanced in Monday's trading after the U.S. paused country-specific tariffs on smartphones, computers, and chips but also cautioned that additional tariffs may be imposed at a later date.
In addition, White House administration officials signaled that the U.S. may announce the pause of 25% tariffs on automobile imports as early as this week.
The Trump administration's credibility is very low while the officials promote the benefits of tariffs in reviving the manufacturing sector but at the same time negotiate with its trading partners to lower tariffs in exchange for other concessions.
With the Trump administration's plan to keep the trade policy uncertainty high, few businesses will take a plunge in shifting their manufacturing operations to the U.S.
Investors hoped that the US-Japan trade negotiations later this week will succeed in finalizing tariffs and rules of engagement and provide certainty for the next two years.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1% to 34,313.19, and the broader TOPIX index advanced 1.2% to 2,517.80.
Automobile manufacturing-related companies traded higher on speculation that the U.S. is likely to pause 25% tariffs on imports for the next 90 days.
Toyota Motor gained 4.8% to ¥2,525.0, Honda Motor advanced 4% to ¥1,371.50, and Nissan Motor increased 2.2% to ¥322.40.
Banks traded higher tracking gains in the yen, and the Japanese currency traded at 143.08 against the U.S. dollar, and the yield on 10-year Japanese government bonds hovered at 1.35%.
Sumitomo Mitsui Financial Group gained 3.4% to ¥3,226.0, Mitsubishi UFJ Financial Group gained 2.7% to ¥1,691.50, and Mizuho Financial Group inched higher by 3.3% to ¥3,403.0.
Marubeni Corp. gained 1.4% to ¥2,244.0, Itochu Corp. added 0.1% to ¥6,555.0, Mitsui & Company advanced 0.8% to ¥2,651.0, and Sumitomo Corp. inched higher 0.4% to ¥3,230.0.
China Markets Lacked Direction and Yuan Faced Selling Pressure, CATL In Focus After Earnings
Li Chen
15 Apr, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction amid U.S. trade policy turmoil as China looked to strengthen partnerships with neighboring countries.
The Hang Seng index edged down 0.001%, and the mainland-focused CSI 300 index decreased 0.3%.
The Chinese yuan in the offshore market traded at 7.31 against the U.S. dollar, near the top end of the range set by the People's Bank of China, as capital flight picks up.
Investor anxieties were high amid the ongoing U.S. trade policy uncertainty, as the on-again, off-again tariff announcements kept investors on the sidelines.
The Trump administration is hoping that the policy uncertainty, by design, will help the U.S. negotiators to gain leverage in negotiations with its key trading partners.
The Trump administration is promoting the rationale for 154% tariffs on Chinese goods and encouraging foreign businesses to shift manufacturing to the U.S., but at the same time signaling its willingness to lower tariffs.
The two-faced policy of the Trump administration has kept investors selling U.S. dollar-denominated stocks and bonds, weakened the dollar, and shaken investors' confidence in the safe-haven status of the U.S.
On the earnings front, investors are looking ahead to the release of first-quarter GDP growth data on Wednesday.
The National Bureau of Statistics' report is expected to show an increase of 5.2% annual pace in the first quarter; however, investors are worried that the economy may face headwinds in the second half.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 21,435.14, and the mainland-focused CSI 300 index edged lower 0.1% to 3,756.92.
Contemporary Amperex Technology Co. Ltd. increased 2% to 228.68 yuan, and the company reported a rise in earnings and sales in the first quarter.
Revenue increased 6.2% to 84.7 billion yuan, and net income surged 32.9% to 13.96 billion yuan from a year ago, respectively.
CATL is the world's largest power battery maker with a market share of 38.2%, according to a report released by the South Korea-based SNE Research.
The company is in the process of listing its stock on the Hong Kong Stock Exchange as early as August.
Duality Biotherapeutics surged more than 110% to HK $202.14, and the biotech company sold 17.33 million shares at a price of HK $94.60 per share.
The cancer and autoimmune disease treatment drug developer raised about HK $1.56 billion, or about $200 million.
Trust Chem soared 322% to 56.91 yuan in Shenzhen, and the pigment and acid dye maker sold 23.4 million shares at a price of 12.80 yuan per share and raised about 300 million yuan.
China Markets Lacked Direction and Yuan Faced Selling Pressure, CATL In Focus After Earnings
Li Chen
15 Apr, 2025
Hong Kong
Stock market indexes in China and Hong Kong lacked direction amid U.S. trade policy turmoil as China looked to strengthen partnerships with neighboring countries.
The Hang Seng index edged down 0.001%, and the mainland-focused CSI 300 index decreased 0.3%.
The Chinese yuan in the offshore market traded at 7.31 against the U.S. dollar, near the top end of the range set by the People's Bank of China, as capital flight picks up.
Investor anxieties were high amid the ongoing U.S. trade policy uncertainty, as the on-again, off-again tariff announcements kept investors on the sidelines.
The Trump administration is hoping that the policy uncertainty, by design, will help the U.S. negotiators to gain leverage in negotiations with its key trading partners.
The Trump administration is promoting the rationale for 154% tariffs on Chinese goods and encouraging foreign businesses to shift manufacturing to the U.S., but at the same time signaling its willingness to lower tariffs.
The two-faced policy of the Trump administration has kept investors selling U.S. dollar-denominated stocks and bonds, weakened the dollar, and shaken investors' confidence in the safe-haven status of the U.S.
On the earnings front, investors are looking ahead to the release of first-quarter GDP growth data on Wednesday.
The National Bureau of Statistics' report is expected to show an increase of 5.2% annual pace in the first quarter; however, investors are worried that the economy may face headwinds in the second half.
China Indexes and Stocks
The Hang Seng index was nearly unchanged at 21,435.14, and the mainland-focused CSI 300 index edged lower 0.1% to 3,756.92.
Contemporary Amperex Technology Co. Ltd. increased 2% to 228.68 yuan, and the company reported a rise in earnings and sales in the first quarter.
Revenue increased 6.2% to 84.7 billion yuan, and net income surged 32.9% to 13.96 billion yuan from a year ago, respectively.
CATL is the world's largest power battery maker with a market share of 38.2%, according to a report released by the South Korea-based SNE Research.
The company is in the process of listing its stock on the Hong Kong Stock Exchange as early as August.
Duality Biotherapeutics surged more than 110% to HK $202.14, and the biotech company sold 17.33 million shares at a price of HK $94.60 per share.
The cancer and autoimmune disease treatment drug developer raised about HK $1.56 billion, or about $200 million.
Trust Chem soared 322% to 56.91 yuan in Shenzhen, and the pigment and acid dye maker sold 23.4 million shares at a price of 12.80 yuan per share and raised about 300 million yuan.
Wall Street Indexes Rebound as Global Investors Worry About U.S. Safe-haven Status
Barry Adams
14 Apr, 2025
New York City
Stock market indexes extended gains from the previous session and previous week after the Trump administration sent mixed signals on the scope of tariffs on electronic products.
The S&P 500 index and the Nasdaq Composite jumped more than 1% after the Trump administration paused country-specific tariffs on smartphones, computers, and semiconductors.
At the same time, Commerce Secretary Howard Lutnick said the exemptions are not permanent, and Donald Trump said in a social media post that these electronic products will still attract 20% fentanyl tariffs.
After a week of tumultuous trading, world markets closed higher, reacting to several twists in U.S. trade policy.
Last week, market indexes were the most volatile on record, amid confusion and market turmoil caused by the Trump administration's flip-flops.
The Trump administration paused its country-specific tariffs for 90 days and kept the base tariffs of 10% on all imports except from China.
The announcement sparked a historic one-day market rally of 9% in New York, but those gains were trimmed on Thursday after China retaliated and vowed to “fight until the end.”
Global investors continued to pull out of U.S. assets, sparking a rare simultaneous decline in stocks, bonds, crude oil, and the dollar.
The sustained selling of U.S. Treasuries by foreign investors forced Donald Trump to halt his tariff war for now.
Last week's bond market sell-off rattled Treasury officials so much that they worried that the U.S. bond auction may fail, as foreign governments use their Treasury holdings.
Markets are calm for now, but investor confidence in U.S. assets is shaken for now, and the sell-off in the bond market can resume at any moment if relations with China, Japan, and the European Union deteriorate.
China holds $760 billion, and Japan holds $1.0 trillion of U.S. Treasuries, according to data available from the U.S. Department of the Treasury.
Moreover, the silence of three bond rating agencies on U.S. trade policy also confirms the long-held view among bond investors that these so-called independent agencies are not as independent as they claim to be.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 1.1% to 5,423.89, the Nasdaq Composite edged up 1.3% to 16,946.13, and the Russell 2000 index was up 1.3% to 1,885.13.
The yield on 2-year Treasury notes edged lower to 3.93%, 10-year Treasury notes decreased to 4.44%, and 30-year Treasury bonds declined to 4.84%.
WTI crude oil increased $0.59 to $62.09 a barrel, and natural gas prices edged higher by $0.05 to $3.58 a thermal unit.
Gold decreased by $32.05 to 3,203.10 an ounce, and silver edged down by $0.33 to $31.95.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.23 to 99.87, and it traded at the lowest level since April 2022.
Week Ahead
In the week ahead, investors in the U.S. are looking ahead to the release of export and import price reports, retail sales, housing construction activities, and the industrial production report.
Earnings This Week
On the earnings front, investors anticipate results from Goldman Sachs, Citigroup, Bank of America, United Airlines, Abbott Labs, UnitedHealth Group, American Express, Netflix, and Charles Schwab.
U.S. Movers
Apple Inc. jumped 6% to $210.92 after the White House paused country-specific tariffs on smartphones, computers, and chips.
Nvidia rose 3.4% to $114.71, Broadcom advanced 1.2% to $185.98, and AMD increased 4.4% to $97.50.
Pfizer Inc. decreased 0.3% to $21.90 after the drugmaker said it would halt development of a weight loss pill.
The company decided to take this step after a trial patient experienced liver injury possibly caused by the drug.
Wall Street Indexes Rebound as Global Investors Worry About U.S. Safe-haven Status
Barry Adams
14 Apr, 2025
New York City
Stock market indexes extended gains from the previous session and previous week after the Trump administration sent mixed signals on the scope of tariffs on electronic products.
The S&P 500 index and the Nasdaq Composite jumped more than 1% after the Trump administration paused country-specific tariffs on smartphones, computers, and semiconductors.
At the same time, Commerce Secretary Howard Lutnick said the exemptions are not permanent, and Donald Trump said in a social media post that these electronic products will still attract 20% fentanyl tariffs.
After a week of tumultuous trading, world markets closed higher, reacting to several twists in U.S. trade policy.
Last week, market indexes were the most volatile on record, amid confusion and market turmoil caused by the Trump administration's flip-flops.
The Trump administration paused its country-specific tariffs for 90 days and kept the base tariffs of 10% on all imports except from China.
The announcement sparked a historic one-day market rally of 9% in New York, but those gains were trimmed on Thursday after China retaliated and vowed to “fight until the end.”
Global investors continued to pull out of U.S. assets, sparking a rare simultaneous decline in stocks, bonds, crude oil, and the dollar.
The sustained selling of U.S. Treasuries by foreign investors forced Donald Trump to halt his tariff war for now.
Last week's bond market sell-off rattled Treasury officials so much that they worried that the U.S. bond auction may fail, as foreign governments use their Treasury holdings.
Markets are calm for now, but investor confidence in U.S. assets is shaken for now, and the sell-off in the bond market can resume at any moment if relations with China, Japan, and the European Union deteriorate.
China holds $760 billion, and Japan holds $1.0 trillion of U.S. Treasuries, according to data available from the U.S. Department of the Treasury.
Moreover, the silence of three bond rating agencies on U.S. trade policy also confirms the long-held view among bond investors that these so-called independent agencies are not as independent as they claim to be.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 1.1% to 5,423.89, the Nasdaq Composite edged up 1.3% to 16,946.13, and the Russell 2000 index was up 1.3% to 1,885.13.
The yield on 2-year Treasury notes edged lower to 3.93%, 10-year Treasury notes decreased to 4.44%, and 30-year Treasury bonds declined to 4.84%.
WTI crude oil increased $0.59 to $62.09 a barrel, and natural gas prices edged higher by $0.05 to $3.58 a thermal unit.
Gold decreased by $32.05 to 3,203.10 an ounce, and silver edged down by $0.33 to $31.95.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.23 to 99.87, and it traded at the lowest level since April 2022.
Week Ahead
In the week ahead, investors in the U.S. are looking ahead to the release of export and import price reports, retail sales, housing construction activities, and the industrial production report.
Earnings This Week
On the earnings front, investors anticipate results from Goldman Sachs, Citigroup, Bank of America, United Airlines, Abbott Labs, UnitedHealth Group, American Express, Netflix, and Charles Schwab.
U.S. Movers
Apple Inc. jumped 6% to $210.92 after the White House paused country-specific tariffs on smartphones, computers, and chips.
Nvidia rose 3.4% to $114.71, Broadcom advanced 1.2% to $185.98, and AMD increased 4.4% to $97.50.
Pfizer Inc. decreased 0.3% to $21.90 after the drugmaker said it would halt development of a weight loss pill.
The company decided to take this step after a trial patient experienced liver injury possibly caused by the drug.
U.S. Movers: Bank of New York Mellon, BlackRock, Children’s Place, Fastenal, JPMorgan, Morgan Stanley, Wells Fargo
Scott Peters
14 Apr, 2025
New York City
JPMorgan Chase & Co. jumped 4.2% to $236.29 after the banking company reported first quarter of 2025 results.
Net revenue edged up to $45.31 billion from $41.93 billion, net income jumped to $14.64 billion from $13.42 billion, and diluted earnings per share rose to $5.07 from $4.44 a year ago.
The company proposed a dividend of $1.40 per share or a total of $3.9 billion and announced $7.1 billion of common stock net repurchases.
Wells Fargo & Co. gained 0.1% to $62.59 after the banking company reported fiscal first quarter of 2025 results ending in March.
Revenue declined to $20.15 billion from $20.86 billion, net income jumped to $4.89 billion from $4.62 billion, and diluted earnings per share rose to $1.39 from $1.20 a year ago.
The company repurchased 44.5 million shares for $3.5 billion in the quarter.
BlackRock Inc. eased 0.1% to $878.00 after the investment management company reported results for the fiscal first quarter of 2025 ending in March.
Revenue edged up to $5.28 billion from $4.73 billion, net income dropped to $1.51 billion from $1.57 billion, and diluted earnings per share declined to $9.64 from $10.48 a year ago.
Assets under management rose 11% in the quarter to $11.58 trillion from $10.5 trillion a year earlier.
The company repurchased $375 million shares during the quarter and raised its quarterly cash dividend by 2% to $5.21 per share.
Morgan Stanley gained 0.05% to $108.18 after the banking company reported fiscal first quarter 2025 results ending in March.
Revenue surged to $17.74 billion from $15.14 billion, net income jumped to $4.31 billion from $3.41 billion, and diluted earnings per share rose to $2.60 from $2.02 a year ago.
Total client assets increased to $7.7 trillion across the wealth and investment management divisions, supported by $94 billion in net new assets, the company said in a release to investors.
The company repurchased $1.0 billion in shares during the quarter and proposed a quarterly dividend of 92.5 cents per share, payable on May 15 to shareholders on record as of April 30.
Bank of New York Mellon Corp. traded flat at $77.67 after the bank reported results for the fiscal first quarter ending in March.
Revenue surged to $4.79 billion from $4.53 billion, net income edged up to $1.15 billion from $953 million, and diluted earnings per share rose to $1.58 from $1.25 a year ago.
The company returned $343 million of dividends and made $746 million in share repurchases during the quarter.
Fastenal Co. dropped 0.1% to $80.53 after the distributor of industrial and construction supplies reported results for the fiscal first quarter of 2025 ending in March.
Net sales increased 3.4% to $1.96 billion from $1.89 billion, net income inched up 0.3% to $298.7 million from $297.7 million, and diluted earnings per share remained flat at 52 cents per share compared to a year ago.
The company returned $246.7 million to shareholders in the form of dividends during the quarter, compared to $223.2 million a year earlier.
The Children’s Place Inc. plunged 6.3% to $6.35 after the struggling children’s specialty retailer reported results for the fiscal fourth quarter of 2024 ending in February.
Net sales declined to $408.56 million from $455.03 million, net loss shrank to $7.99 million from a loss of $128.84 million, and diluted loss per share narrowed to 62 cents from a loss of $10.24 a year ago.
For the full year, revenue edged down to $1.39 billion from $1.60 billion, net loss narrowed to $57.82 million from a loss of $154.54 million, and diluted loss per share shrank to $4.53 from a loss of $12.34 a year earlier.
The company reported “the lowest level of selling, general, and administrative spending in more than 15 years during the fourth quarter and full year.”
“Looking ahead for fiscal 2025, we remain determined to deliver profitable top-line sales as we continue to refine our omni-channel strategy and rebalance our product mix by offering relevant products that resonate with parents,” Muhammad Umair, the company’s president and interim CEO, said in a release to investors.
U.S. Movers: Bank of New York Mellon, BlackRock, Children’s Place, Fastenal, JPMorgan, Morgan Stanley, Wells Fargo
Scott Peters
14 Apr, 2025
New York City
JPMorgan Chase & Co. jumped 4.2% to $236.29 after the banking company reported first quarter of 2025 results.
Net revenue edged up to $45.31 billion from $41.93 billion, net income jumped to $14.64 billion from $13.42 billion, and diluted earnings per share rose to $5.07 from $4.44 a year ago.
The company proposed a dividend of $1.40 per share or a total of $3.9 billion and announced $7.1 billion of common stock net repurchases.
Wells Fargo & Co. gained 0.1% to $62.59 after the banking company reported fiscal first quarter of 2025 results ending in March.
Revenue declined to $20.15 billion from $20.86 billion, net income jumped to $4.89 billion from $4.62 billion, and diluted earnings per share rose to $1.39 from $1.20 a year ago.
The company repurchased 44.5 million shares for $3.5 billion in the quarter.
BlackRock Inc. eased 0.1% to $878.00 after the investment management company reported results for the fiscal first quarter of 2025 ending in March.
Revenue edged up to $5.28 billion from $4.73 billion, net income dropped to $1.51 billion from $1.57 billion, and diluted earnings per share declined to $9.64 from $10.48 a year ago.
Assets under management rose 11% in the quarter to 11,583,928 from 10,472,500 a year earlier.
The company repurchased $375 million shares during the quarter and raised its quarterly cash dividend by 2% to $5.21 per share.
Morgan Stanley gained 0.05% to $108.18 after the banking company reported fiscal first quarter 2025 results ending in March.
Revenue surged to $17.74 billion from $15.14 billion, net income jumped to $4.31 billion from $3.41 billion, and diluted earnings per share rose to $2.60 from $2.02 a year ago.
Total client assets increased to $7.7 trillion across the wealth and investment management divisions, supported by $94 billion in net new assets, the company said in a release to investors.
The company repurchased $1.0 billion in shares during the quarter and proposed a quarterly dividend of 92.5 cents per share, payable on May 15 to shareholders on record as of April 30.
Bank of New York Mellon Corp. traded flat at $77.67 after the bank reported results for the fiscal first quarter ending in March.
Revenue surged to $4.79 billion from $4.53 billion, net income edged up to $1.15 billion from $953 million, and diluted earnings per share rose to $1.58 from $1.25 a year ago.
The company returned $343 million of dividends and made $746 million in share repurchases during the quarter.
Fastenal Co. dropped 0.1% to $80.53 after the distributor of industrial and construction supplies reported results for the fiscal first quarter of 2025 ending in March.
Net sales increased 3.4% to $1.96 billion from $1.89 billion, net income inched up 0.3% to $298.7 million from $297.7 million, and diluted earnings per share remained flat at 52 cents per share compared to a year ago.
The company returned $246.7 million to shareholders in the form of dividends during the quarter, compared to $223.2 million a year earlier.
The Children’s Place Inc. plunged 6.3% to $6.35 after the struggling children’s specialty retailer reported results for the fiscal fourth quarter of 2024 ending in February.
Net sales declined to $408.56 million from $455.03 million, net loss shrank to $7.99 million from a loss of $128.84 million, and diluted loss per share narrowed to 62 cents from a loss of $10.24 a year ago.
For the full year, revenue edged down to $1.39 billion from $1.60 billion, net loss narrowed to $57.82 million from a loss of $154.54 million, and diluted loss per share shrank to $4.53 from a loss of $12.34 a year earlier.
The company reported “the lowest level of selling, general, and administrative spending in more than 15 years during the fourth quarter and full year.”
“Looking ahead for fiscal 2025, we remain determined to deliver profitable top-line sales as we continue to refine our omni-channel strategy and rebalance our product mix by offering relevant products that resonate with parents,” Muhammad Umair, the company’s president and interim CEO, said in a release to investors.
Europe Movers: Fraport, Gerresheimer
Inga Muller
14 Apr, 2025
Frankfurt
Fraport AG gained 1.3% to €56.65 after the operator of the Frankfurt airport released passenger traffic results for March and the first quarter.
The total number of passengers at all airports actively managed by the Fraport Group slipped by 0.4% year-on-year to around 9.8 million in March 2025.
During the first quarter of 2025, passenger traffic in Frankfurt remained nearly unchanged compared with the same period last year.
In the first three months of 2025, a total of roughly 12.4 million passengers traveled via Frankfurt airport, representing a slight 0.9% decrease from a year ago.
“For the upcoming summer season, seat capacity at Germany’s largest aviation gateway in Frankfurt is expected to increase by 5%,” the company said in a release to investors.
The new government in Germany is taking measures to reduce the air traffic tax and eliminate the national blending quota for synthetic aviation fuels that are not yet available on the market, which can help to unlock growth in aviation again over the medium term, the company added in the statement.
Fraport’s cargo throughput, comprising airfreight and airmail, rose by 3.2% to 184,679 metric tons in March compared to a year ago.
Aircraft movements climbed by 3.9% to 35,280 takeoffs and landings, and accumulated maximum takeoff weights increased by 4.2% to around 2.2 million metric tons from a year earlier.
Gerresheimer AG dropped 1.5% to €53.05 after the Germany-based medicine packaging company reported results for the fiscal first quarter of 2025 ending in February.
Revenue edged up to €520.05 million from €466.14 million, net income swung to a loss of €17.49 million from a profit of €13.43 million, and diluted loss per share was 52 cents compared to a profit of 38 cents a year ago.
The company guided for 2025 revenue growth between 3% and 5% to €2.4 billion, compared to €2.03 billion in 2024, an adjusted EBITDA margin of 22%, compared to 20.6%, and adjusted earnings per share of €4.85, compared to €4.67 a year earlier.
Europe Movers: Fraport, Gerresheimer
Inga Muller
14 Apr, 2025
Frankfurt
Fraport AG gained 1.3% to €56.65 after the operator of the Frankfurt airport released passenger traffic results for March and the first quarter.
The total number of passengers at all airports actively managed by the Fraport Group slipped by 0.4% year-on-year to around 9.8 million in March 2025.
During the first quarter of 2025, passenger traffic in Frankfurt remained nearly unchanged compared with the same period last year.
In the first three months of 2025, a total of roughly 12.4 million passengers traveled via Frankfurt airport, representing a slight 0.9% decrease from a year ago.
“For the upcoming summer season, seat capacity at Germany’s largest aviation gateway in Frankfurt is expected to increase by 5%,” the company said in a release to investors.
The new government in Germany is taking measures to reduce the air traffic tax and eliminate the national blending quota for synthetic aviation fuels that are not yet available on the market, which can help to unlock growth in aviation again over the medium term, the company added in the statement.
Fraport’s cargo throughput, comprising airfreight and airmail, rose by 3.2% to 184,679 metric tons in March compared to a year ago.
Aircraft movements climbed by 3.9% to 35,280 takeoffs and landings, and accumulated maximum takeoff weights increased by 4.2% to around 2.2 million metric tons from a year earlier.
Gerresheimer AG dropped 1.5% to €53.05 after the Germany-based medicine packaging company reported results for the fiscal first quarter of 2025 ending in February.
Revenue edged up to €520.05 million from €466.14 million, net income swung to a loss of €17.49 million from a profit of €13.43 million, and diluted loss per share was 52 cents compared to a profit of 38 cents a year ago.
The company guided for 2025 revenue growth between 3% and 5% to €2.4 billion, compared to €2.03 billion in 2024, an adjusted EBITDA margin of 22%, compared to 20.6%, and adjusted earnings per share of €4.85, compared to €4.67 a year earlier.
European Markets Advance as Investors Shift Attention to Earnings Releases
Bridgette Randall
14 Apr, 2025
London
European markets opened sharply higher after the U.S. announced a pause in country-specific tariffs on smartphones, computers, and semiconductors.
Benchmark indexes in Frankfurt, Paris, Milan, and London gained between 1% and 2%, as investors focused on the latest iteration of U.S. tariffs.
Over the last two weeks, market sentiment has been cautious, and U.S. trade policy uncertainty remained in focus amid the constantly changing stance of the Trump administration.
The U.S. Commerce Secretary Howard Lutnick said these advanced semiconductor products could face additional levies over the next two months.
Investors are increasingly realizing that the U.S. tariff turmoil and confusion, rooted in Donald Trump's flip-flops, is part of the plan to keep allies and exporting companies on edge and gain a negotiating leverage, rather than a byproduct of well-thought-out long-term trade policy.
Investors shifted their attention to upcoming earnings and a raft of economic announcements scheduled later in the week.
Europe Indexes and Yields
The DAX index increased by 1.9% to 20,759.61, the CAC-40 index edged higher 1.8% to 7,236.96, and the FTSE 100 index advanced by 1.9% to 8,116.01.
The yield on 10-year German bonds inched higher to 2.55%, French bonds decreased to 3.32%, the UK gilts moved down to 4.70%, and Italian bonds edged lower to 3.75%.
The euro increased to $1.14; the British pound was higher at $1.32; and the U.S. dollar was higher and traded at 81.57 Swiss cents.
Brent crude increased $0.06 to $64.82 a barrel, and the Dutch TTF natural gas was lower by €0.01 to €33.61 per MWh.
Week Ahead
Investors are looking ahead to the release of the UK’s retail sales and unemployment rate, France’s inflation rate, and the Eurozone industrial production report.
Germany’s economic sentiment index and producer price inflation are on schedule as well.
The U.K., Italy, and the European Union will release the inflation rate reports and the U.K.’s retail prices as well.
The European Central Bank is set to announce its rate decision, and investors are divided about the possible rate cut.
Italy will release its balance of trade and annual construction output reports, and Spain will comment on consumer confidence.
Earnings Calendar
On the earnings front, investors await the results from Ashmore Group, LVMH, Christian Dior, Vinci, Ericsson, Publicis Groupe, Wise Plc, ASML Holding, Rio Tinto, Heineken, Hermes International, L’Oreal, Antofagasta, Sandvik, and ABB Ltd.
European Markets Advance as Investors Shift Attention to Earnings Releases
Bridgette Randall
14 Apr, 2025
London
European markets opened sharply higher after the U.S. announced a pause in country-specific tariffs on smartphones, computers, and semiconductors.
Benchmark indexes in Frankfurt, Paris, Milan, and London gained between 1% and 2%, as investors focused on the latest iteration of U.S. tariffs.
Over the last two weeks, market sentiment has been cautious, and U.S. trade policy uncertainty remained in focus amid the constantly changing stance of the Trump administration.
The U.S. Commerce Secretary Howard Lutnick said these advanced semiconductor products could face additional levies over the next two months.
Investors are increasingly realizing that the U.S. tariff turmoil and confusion, rooted in Donald Trump's flip-flops, is part of the plan to keep allies and exporting companies on edge and gain a negotiating leverage, rather than a byproduct of well-thought-out long-term trade policy.
Investors shifted their attention to upcoming earnings and a raft of economic announcements scheduled later in the week.
Week Ahead
Investors are looking ahead to the release of the UK’s retail sales and unemployment rate, France’s inflation rate, and the Eurozone industrial production report.
Germany’s economic sentiment index and producer price inflation are on schedule as well.
The U.K., Italy, and the European Union will release the inflation rate reports and the U.K.’s retail prices as well.
The European Central Bank is set to announce its rate decision, and investors are divided about the possible rate cut.
Italy will release its balance of trade and annual construction output reports, and Spain will comment on consumer confidence.
Earnings Calendar
On the earnings front, investors await the results from Ashmore Group, LVMH, Christian Dior, Vinci, Ericsson, Publicis Groupe, Wise Plc, ASML Holding, Rio Tinto, Heineken, Hermes International, L’Oreal, Antofagasta, Sandvik, and ABB Ltd.
Yen Holds Firm and Japan's Nikkei Rebounds Ahead of Japan-U.S. Trade Negotiations
Akira Ito
14 Apr, 2025
Tokyo
Market sentiment in Tokyo improved after the U.S. paused tariffs on advanced electronics, and investors looked ahead to the outcome of trade negotiations between Japan and the U.S.
The Nikkei 225 stock average rose as much as 2%, and the broader TOPIX advanced more than 1%, and they erased Friday's losses following a rebound in New York.
The yen edged higher to 142.75 against the U.S. dollar, and the yield on 10-year Japanese bonds held firm around 1.32%.
Investors breathed a sigh of relief after the Trump administration paused country-specific tariffs on imports of smartphones, computers, and semiconductors.
Later in the week, Japan's top trade negotiator, Akazawa Ryosei, is scheduled to meet U.S. Treasury Secretary Scot Bessent and U.S. Trade Representative Jamieson Greer.
Investors are hoping that the U.S. will lower additional tariffs on Japan's exports of manufactured goods and vehicles to closer to 10% from the current 24% and 25%, respectively.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 1.8% to 34,192.36, and the broader TOPIX index edged up 1.4% to 2,502.32.
Electronics exporters and semiconductor equipment makers led gainers in Tokyo trading.
Tokyo Electron advanced 2.4% to ¥20,110.0, Advantest Corp. jumped 5.4% to ¥5,937.0, and Disco Corp. increased 4.2% to ¥28,620.0.
Canon Inc. gained 1.2% to ¥4,263.0, Sony Group Corp. increased 1.5% to ¥3,316.0, and Panasonic Holding Corp. inched higher 1.2% to ¥1,506.50.
J. Front Retailing Company advanced 1.7% to ¥1,786.50, Fast Retailing Co. Ltd. gained 0.3%, and Seven & I Holdings Ltd. decreased 0.5% to ¥1,964.0.
Yen Holds Firm and Japan's Nikkei Rebounds Ahead of Japan-U.S. Trade
Akira Ito
14 Apr, 2025
Tokyo
Market sentiment in Tokyo improved after the U.S. paused tariffs on advanced electronics, and investors looked ahead to the outcome of trade negotiations between Japan and the U.S.
The Nikkei 225 stock average rose as much as 2%, and the broader TOPIX advanced more than 1%, and they erased Friday's losses following a rebound in New York.
The yen edged higher to 142.75 against the U.S. dollar, and the yield on 10-year Japanese bonds held firm around 1.32%.
Investors breathed a sigh of relief after the Trump administration paused country-specific tariffs on imports of smartphones, computers, and semiconductors.
Later in the week, Japan's top trade negotiator, Akazawa Ryosei, is scheduled to meet U.S. Treasury Secretary Scot Bessent and U.S. Trade Representative Jamieson Greer.
Investors are hoping that the U.S. will lower additional tariffs on Japan's exports of manufactured goods and vehicles to closer to 10% from the current 24% and 25%, respectively.
Japan Indexes and Stocks
The Nikkei 225 Stock Average advanced 1.8% to 34,192.36, and the broader TOPIX index edged up 1.4% to 2,502.32.
Electronics exporters and semiconductor equipment makers led gainers in Tokyo trading.
Tokyo Electron advanced 2.4% to ¥20,110.0, Advantest Corp. jumped 5.4% to ¥5,937.0, and Disco Corp. increased 4.2% to ¥28,620.0.
Canon Inc. gained 1.2% to ¥4,263.0, Sony Group Corp. increased 1.5% to ¥3,316.0, and Panasonic Holding Corp. inched higher 1.2% to ¥1,506.50.
J. Front Retailing Company advanced 1.7% to ¥1,786.50, Fast Retailing Co. Ltd. gained 0.3%, and Seven & I Holdings Ltd. decreased 0.5% to ¥1,964.0.