Market Update
U.S. Movers: Lamb Weston
Scott Peters
04 Apr, 2025
New York City
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
U.S. Movers: Lamb Weston
Scott Peters
04 Apr, 2025
New York City
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
Europe Movers: Sodexo
Inga Muller
04 Apr, 2025
Frankfurt
Sodexo Group dropped 2.4% to €57.75 after the French food services provider guided for a slower than expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
“Our adjustment to the full-year organic revenue growth guidance is primarily driven by weaker-than-expected volume trends in education in the first half, which are expected to persist,” the company said in a release to investors.
“Additionally, in North America, delays in certain contract start dates in healthcare and softer commercial performance in the first half have impacted expectations for net new contributions in the second half,” the company added in the statement.
Europe Movers: Sodexo
Inga Muller
04 Apr, 2025
Frankfurt
Sodexo Group dropped 2.4% to €57.75 after the French food services provider guided for a slower than expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
“Our adjustment to the full-year organic revenue growth guidance is primarily driven by weaker-than-expected volume trends in education in the first half, which are expected to persist,” the company said in a release to investors.
“Additionally, in North America, delays in certain contract start dates in healthcare and softer commercial performance in the first half have impacted expectations for net new contributions in the second half,” the company added in the statement.
Japan Indexes Plunge Weekly 7% After U.S. Announces New Tariffs On Key Trading Partners
Akira Ito
04 Apr, 2025
Tokyo
Stock market indexes in Tokyo extended weekly losses as investors reacted to steep U.S. tariffs on Japanese exports, and the yen edged higher.
The Nikkei Stock Average declined nearly 3%, and the broader TOPIX fell 3.3%, and benchmark indexes extended weekly losses to 5.8% and 7%, respectively.
Japanese investors sold stocks as investors worried that escalating trade tensions with the U.S. are likely to dampen global trade and negatively impact corporate earnings.
The U.S., in a historic shift of its trade policy, announced a whirlwind of tariffs on all imports, primarily targeting its key trading partners.
The Trump administration slapped a 24% import tax on all Japanese goods and a 25% tax on Japanese vehicles, hitting hard the export-driven economy of Japan.
For more than two decades, Japan has been struggling with anemic economic growth, and exports played a key role in supporting job growth.
However, with the stiff tariffs, Japan is likely to face a sharp economic slowdown and could halt its labor market expansion of the last 35 months.
Closer to home, Japan's real household spending decreased for the first time in three months, after consumers continued to trim food purchases amid surging prices.
After adjusting for inflation, Japan's household spending declined 0.5% in March, according to an update from the Ministry of Internal Affairs and Communications.
Household spending is a key indicator of private consumption and accounts for more than half of Japan's gross domestic product.
The average monthly income of a salaried household with a family of two or more decreased 2.3% from a year ago, after adjusting for inflation, to 571,993 yen.
In nominal terms, the average monthly income per household stood at 571,993 yen, increased 1.9% in nominal terms, but down 2.3% in real terms from the previous year.
The average of monthly consumption expenditures per household for February 2025 was 290,511 yen, up 3.8% in nominal terms but down 0.5% in real terms from the previous year.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.6% to 33,825.07, and the broader TOPIX index fell 3.3% to 2,484.09.
Financial stocks led the decline in Tokyo trading, amid worries about a sharp slowdown in business activities.
Mitsubishi UFJ Financial dropped 8.8% to ¥1,668.50, Sumitomo Mitsui Financial fell 8% to ¥3,125.0, and Mizuho Financial plunged 11.3% to ¥3,277.0.
Toyota Motor fell 4.4% to ¥2,407.50, Nissan Motor dropped 5.2% to ¥341.50, and Honda Motor decreased 5.5% to ¥1,257.0.
Japan Indexes Plunge Weekly 7% After U.S. Announces New Tariffs On Key Trading Partners
Akira Ito
04 Apr, 2025
Tokyo
Stock market indexes in Tokyo extended weekly losses as investors reacted to steep U.S. tariffs on Japanese exports, and the yen edged higher.
The Nikkei Stock Average declined nearly 3%, and the broader TOPIX fell 3.3%, and benchmark indexes extended weekly losses to 5.8% and 7%, respectively.
Japanese investors sold stocks as investors worried that escalating trade tensions with the U.S. are likely to dampen global trade and negatively impact corporate earnings.
The U.S., in a historic shift of its trade policy, announced a whirlwind of tariffs on all imports, primarily targeting its key trading partners.
The Trump administration slapped a 24% import tax on all Japanese goods and a 25% tax on Japanese vehicles, hitting hard the export-driven economy of Japan.
For more than two decades, Japan has been struggling with anemic economic growth, and exports played a key role in supporting job growth.
However, with the stiff tariffs, Japan is likely to face a sharp economic slowdown and could halt its labor market expansion of the last 35 months.
Closer to home, Japan's real household spending decreased for the first time in three months, after consumers continued to trim food purchases amid surging prices.
After adjusting for inflation, Japan's household spending declined 0.5% in March, according to an update from the Ministry of Internal Affairs and Communications.
Household spending is a key indicator of private consumption and accounts for more than half of Japan's gross domestic product.
The average monthly income of a salaried household with a family of two or more decreased 2.3% from a year ago, after adjusting for inflation, to 571,993 yen.
In nominal terms, the average monthly income per household stood at 571,993 yen, increased 1.9% in nominal terms, but down 2.3% in real terms from the previous year.
The average of monthly consumption expenditures per household for February 2025 was 290,511 yen, up 3.8% in nominal terms but down 0.5% in real terms from the previous year.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 2.6% to 33,825.07, and the broader TOPIX index fell 3.3% to 2,484.09.
Financial stocks led the decline in Tokyo trading, amid worries about a sharp slowdown in business activities.
Mitsubishi UFJ Financial dropped 8.8% to ¥1,668.50, Sumitomo Mitsui Financial fell 8% to ¥3,125.0, and Mizuho Financial plunged 11.3% to ¥3,277.0.
Toyota Motor fell 4.4% to ¥2,407.50, Nissan Motor dropped 5.2% to ¥341.50, and Honda Motor decreased 5.5% to ¥1,257.0.
India Movers: CESC, Just Dial, GNA Axles, TCS, Tata Elxsi, GTPL Hathway, Radhika Jeweltech
Arun Goswami
04 Apr, 2025
Mumbai
CESC Ltd. dropped 2.7% to ₹152.95 after the integrated power utility company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹3,667 crore from ₹3,301 crore, net income declined to ₹282 crore from ₹301 crore, and diluted earnings per share fell to ₹1.99 from ₹2.12 a year ago.
The company's board declared an interim dividend of ₹4.50 per share.
Just Dial Ltd. fell 2% to ₹818.55 despite the company reporting a 43% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹364.7 crore from ₹339.9 crore, after-tax profit jumped to ₹131.3 crore from ₹92 crore, and diluted earnings per share rose to ₹15.44 from ₹10.82 a year ago.
GNA Axles Ltd. declined 3.8% to ₹325, despite the automotive transmission components maker reporting an increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹375.6 crore from ₹357.3 crore, net income increased to ₹253.6 crore from ₹224.6 crore, and diluted earnings per share rose to ₹5.91 from ₹5.23 a year ago.
Tata Consultancy Services Ltd. decreased 2% to ₹3,337, despite the tech services, consulting, and business solutions provider reporting a 13% increase in net income in the December quarter.
Consolidated revenue advanced to ₹65,216 crore from ₹61,445 crore, after-tax profit increased to ₹12,444 crore from ₹11,097 crore, and diluted earnings per share rose to ₹34.21 from ₹30.29 a year ago.
Tata Elxsi Ltd. plunged 2.5% to ₹507.30 after the technology services company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹979 crore from ₹949.2 crore, net income jumped to ₹199 crore from ₹206 crore, and diluted earnings per share rose to ₹31.94 from ₹33.14 a year ago.
GTPL Hathway Limited fell 2.8% to ₹108.45 after the wireline broadband service provider reported a 63% plunge in quarterly profit from a year ago.
Consolidated revenue advanced to ₹895.6 crore from ₹860.6 crore, after-tax profit dropped to ₹9.6 crore from ₹24.6 crore, and diluted earnings per share fell to 90 paise from ₹2.11 a year ago.
GM Breweries Ltd. declined 3.3% to ₹660.05 after the alcoholic beverage maker reported a marginal decline in net income and 3% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹645.2 crore from ₹625.1 crore, net income declined to ₹22 crore from ₹22.6 crore, and diluted earnings per share fell to ₹9.61 from ₹12.37 a year ago.
Radhika Jeweltech Limited decreased 2.9% to ₹87.03 despite the jewelry retailer and manufacturer reporting profit soared 45% in the fiscal third quarter.
Consolidated revenue increased to ₹206.1 crore from ₹176.7 crore, after-tax profit advanced to ₹22.7 crore from ₹15.7 crore, and diluted earnings per share rose to ₹1.93 from ₹1.33 a year ago.
India Movers: CESC, Just Dial, GNA Axles, TCS, Tata Elxsi, GTPL Hathway, Radhika Jeweltech
Arun Goswami
04 Apr, 2025
Mumbai
CESC Ltd. dropped 2.7% to ₹152.95 after the integrated power utility company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹3,667 crore from ₹3,301 crore, net income declined to ₹282 crore from ₹301 crore, and diluted earnings per share fell to ₹1.99 from ₹2.12 a year ago.
The company's board declared an interim dividend of ₹4.50 per share.
Just Dial Ltd. fell 2% to ₹818.55 despite the company reporting a 43% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹364.7 crore from ₹339.9 crore, after-tax profit jumped to ₹131.3 crore from ₹92 crore, and diluted earnings per share rose to ₹15.44 from ₹10.82 a year ago.
GNA Axles Ltd. declined 3.8% to ₹325, despite the automotive transmission components maker reporting an increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹375.6 crore from ₹357.3 crore, net income increased to ₹253.6 crore from ₹224.6 crore, and diluted earnings per share rose to ₹5.91 from ₹5.23 a year ago.
Tata Consultancy Services Ltd. decreased 2% to ₹3,337, despite the tech services, consulting, and business solutions provider reporting a 13% increase in net income in the December quarter.
Consolidated revenue advanced to ₹65,216 crore from ₹61,445 crore, after-tax profit increased to ₹12,444 crore from ₹11,097 crore, and diluted earnings per share rose to ₹34.21 from ₹30.29 a year ago.
Tata Elxsi Ltd. plunged 2.5% to ₹507.30 after the technology services company reported a slight increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹979 crore from ₹949.2 crore, net income jumped to ₹199 crore from ₹206 crore, and diluted earnings per share rose to ₹31.94 from ₹33.14 a year ago.
GTPL Hathway Limited fell 2.8% to ₹108.45 after the wireline broadband service provider reported a 63% plunge in quarterly profit from a year ago.
Consolidated revenue advanced to ₹895.6 crore from ₹860.6 crore, after-tax profit dropped to ₹9.6 crore from ₹24.6 crore, and diluted earnings per share fell to 90 paise from ₹2.11 a year ago.
GM Breweries Ltd. declined 3.3% to ₹660.05 after the alcoholic beverage maker reported a marginal decline in net income and 3% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹645.2 crore from ₹625.1 crore, net income declined to ₹22 crore from ₹22.6 crore, and diluted earnings per share fell to ₹9.61 from ₹12.37 a year ago.
Radhika Jeweltech Limited decreased 2.9% to ₹87.03 despite the jewelry retailer and manufacturer reporting profit soared 45% in the fiscal third quarter.
Consolidated revenue increased to ₹206.1 crore from ₹176.7 crore, after-tax profit advanced to ₹22.7 crore from ₹15.7 crore, and diluted earnings per share rose to ₹1.93 from ₹1.33 a year ago.
Wall Street Indexes Plunge 5% as Trump Tariffs Shake Confidence In U.S. Trade Policy
Barry Adams
03 Apr, 2025
New York City
Wall Street indexes plunged more than 3% after investors factored the impact of the recently announced Trump tariffs, and the dollar decreased 2% against the euro.
The S&P 500 plunged 4%, and the Nasdaq Composite decreased 5.5% as investors feared that the announced tariffs surpassed the market expectations.
Investors sold stocks across the board, and benchmark indexes accelerated losses as the session progressed.
The tech-heavy Nasdaq plunged 5.5%, and the smaller company-focused Russell 2000 dropped more than 6%.
Investors are worried that steep tariffs will slow down consumer spending and contribute to inflation as most retailers will pass on higher prices to consumers.
Moreover, exporters are likely to suffer as well as key trading partners retaliate with their tariffs on goods imported from the United States.
On the economic front, the U.S. trade deficit in February decreased 6.1% to $122.7 billion after exports rose at a faster pace than imports, according to the monthly report released by the Bureau of Economic Analysis.
Overall exports advanced from the previous month by 2.9% to $278.5 billion, and imports were nearly unchanged at $401.1 billion.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 3.5% to 5,473.29, the Nasdaq Composite edged down 4.7% to 16,779.97, and the Russell 2000 index was down 3.9% to 1,965.10.
The yield on 2-year Treasury notes edged lower to 3.75%, 10-year Treasury notes decreased to 4.02%, and 30-year Treasury bonds declined to 4.45%.
WTI crude oil decreased $5.31 to $66.42 a barrel, and natural gas prices edged higher by $0.11 to $4.17 a thermal unit.
Gold decreased by $98.46 to $3,065.70 an ounce, and silver edged down by $1.89 to $31.90.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 2.31 to 101.50 and traded at a two-year high.
U.S. Movers
Retailers, technology companies, and consumer-focused service providers plunged in a widespread sell-off on Wall Street.
Lululemon plunged 13% to $246.05, RH Inc collapsed 42% to $144.15, Nike declined 12% to $144.15, and Abercrombie & Fitch plunged 17% to $69.09.
Apple Inc. decreased 8.6% to $204.56, Microsoft dropped 2.2% to $204.56, Nvidia declined 6.5% to $103.09, and Alphabet Inc. Class A fell 3.3% to $151.93.
American Express dropped 8.6% to $251.42, Capital One Financial declined 12% to $160.26, and Bank of America lost 10.5% to $37.64.
Wall Street Indexes Plunge 5% as Trump Tariffs Shake Confidence In U.S. Trade Policy
Barry Adams
03 Apr, 2025
New York City
Wall Street indexes plunged more than 3% after investors factored the impact of the recently announced Trump tariffs, and the dollar decreased 2% against the euro.
The S&P 500 plunged 4%, and the Nasdaq Composite decreased 5.5% as investors feared that the announced tariffs surpassed the market expectations.
Investors sold stocks across the board, and benchmark indexes accelerated losses as the session progressed.
The tech-heavy Nasdaq plunged 5.5%, and the smaller company-focused Russell 2000 dropped more than 6%.
Investors are worried that steep tariffs will slow down consumer spending and contribute to inflation as most retailers will pass on higher prices to consumers.
Moreover, exporters are likely to suffer as well as key trading partners retaliate with their tariffs on goods imported from the United States.
On the economic front, the U.S. trade deficit in February decreased 6.1% to $122.7 billion after exports rose at a faster pace than imports, according to the monthly report released by the Bureau of Economic Analysis.
Overall exports advanced from the previous month by 2.9% to $278.5 billion, and imports were nearly unchanged at $401.1 billion.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 3.5% to 5,473.29, the Nasdaq Composite edged down 4.7% to 16,779.97, and the Russell 2000 index was down 3.9% to 1,965.10.
The yield on 2-year Treasury notes edged lower to 3.75%, 10-year Treasury notes decreased to 4.02%, and 30-year Treasury bonds declined to 4.45%.
WTI crude oil decreased $5.31 to $66.42 a barrel, and natural gas prices edged higher by $0.11 to $4.17 a thermal unit.
Gold decreased by $98.46 to $3,065.70 an ounce, and silver edged down by $1.89 to $31.90.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 2.31 to 101.50 and traded at a two-year high.
U.S. Movers
Retailers, technology companies, and consumer-focused service providers plunged in a widespread sell-off on Wall Street.
Lululemon plunged 13% to $246.05, RH Inc collapsed 42% to $144.15, Nike declined 12% to $144.15, and Abercrombie & Fitch plunged 17% to $69.09.
Apple Inc. decreased 8.6% to $204.56, Microsoft dropped 2.2% to $204.56, Nvidia declined 6.5% to $103.09, and Alphabet Inc. Class A fell 3.3% to $151.93.
American Express dropped 8.6% to $251.42, Capital One Financial declined 12% to $160.26, and Bank of America lost 10.5% to $37.64.
Europe Markets Deepen Losses After Trump Tariffs Raised Prospects of Global Recession
Bridgette Randall
03 Apr, 2025
London
European markets extended weekly losses after investors digested the impact of the newly announced U.S. tariffs.
Benchmark indexes in Frankfurt, Paris, and London fell between 1% and 2% amid growing worries that the U.S. reciprocal tariffs are likely to ignite a wider trade war and contribute to the economic slowdown.
Investors are worried that the U.S. tariffs of 25% on European automobiles and 20% on goods made in the European Union are likely to slow down exports and negatively impact corporate earnings.
The U.S. president announced reciprocal tariffs of at least 10% on all imported goods and imposed larger tariffs on its key trading partners—China, Japan, South Korea, and India.
The so-called tariffs, otherwise known as import taxes, are generally paid by the importing company based in the U.S. and are passed on to the final customers.
On the economic front, producer price inflation in the eurozone in February increased at an annual pace of 3% in February and accelerated from the 1.7% in January, according to the statistical agency Eurostat.
The measure of wholesale inflation accelerated for the third consecutive month, largely because of a pickup in the annual pace of energy inflation to 7.4% from 3.4% in January.
Europe Indexes and Yields
The DAX index decreased by 2.1% to 21,911.47, the CAC-40 index edged lower 2.1% to 7,691.50, and the FTSE 100 index declined by 1.2% to 8,500.52.
The yield on 10-year German bonds inched lower to 2.65%, French bonds decreased to 3.37%, the UK gilts moved down to 4.57%, and Italian bonds edged lower to 3.77%.
The euro increased to $1.09; the British pound was higher at $1.31; and the U.S. dollar was lower and traded at 87.05 Swiss cents.
Brent crude decreased $2.57 to $72.38 a barrel, and the Dutch TTF natural gas was lower by €0.69 to €40.31 per MWh.
Europe Stock Movers
Luxury stocks plunged after the U.S. unveiled reciprocal tariffs on imports.
LVMH declined 4% to €551.20, Salvatore Ferragamo SpA dropped 2.2% to €5.92, Kering SA down 4.2% to €184.10, and Hermes International SCA fell 2.9% to €2,354.0.
Adidas AG plunged 10% to €198.65, and Puma SE dropped 11.9% to €20.12.