Market Update
Wall Street Indexes Advanced After Nvidia's Blowout Earnings, U.S. GDP Growth Reconfirmed at 2.3%
Barry Adams
27 Feb, 2025
New York City
Wall Street indexes opened higher amid ongoing federal policy uncertainty and growing worries about the health of the U.S. economy.
The S&P 500 index increased 0.1%, and the Nasdaq Composite rose 0.2% after the White House confirmed its plans to impose an import tax on goods shipped from China, Mexico, and Canada.
Stocks advanced amid worries that higher tariffs may take a bite out of consumer spending and nudge the economy towards a recession, but a surge in revenue and earnings in the latest quarter of Nvidia supported gains on Wall Street.
An increase in weekly jobless claims also weighed on the market sentiment.
Initial jobless claims for the week ending on February 22 rose by 22,000 from the previous week's revised level to 242,000, according to a report from the U.S. Labor Department.
Meanwhile, continuing claims, which lag by one week, decreased by 5,000 to 1.862 million.
The jobless claims data does not include claims filed by federal workers, who lost their jobs because of the actions of the newly created Department of Government Efficiency.
The U.S. economy expanded at an annual pace of 2.3% in the fourth quarter, slower than 3.1% in the previous quarter, and matched the preliminary estimate.
For the full year 2024, GDP expanded at an annual pace of 2.8%, slightly slower than 2.9% in the previous year, the U.S. Bureau of Economic Analysis reported Thursday.
U.S. new durable goods orders jumped 3.1% from the previous month to $282.3 billion in January, according to the data released by the U.S. Census Bureau.
New orders for durable goods jumped from the downwardly revised drop of 1.8% in January, largely because of a 9.8% rebound in transportation orders.
New orders, excluding defense orders, increased 3.5%, and non-defense orders, excluding volatile aircraft orders, which are generally considered a proxy for business capital spending, increased 0.8%.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.3% to 5,974.74, the Nasdaq Composite edged up 0.1% to 19,094.40, and the Russell 2000 index was up 0.2% to 2,174.95.
The yield on 2-year Treasury notes edged higher to 4.12%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.56%.
WTI crude oil increased $1.29 to $69.92 a barrel, and natural gas prices edged higher by $0.06 to $4.02 a thermal unit.
Gold decreased by $32.24 to 2,887.09 an ounce, and silver edged down by $0.17 to $31.71.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.70 to 107.12 and traded at a two-year high.
U.S. Stock Movers
Nvidia Inc. jumped 2.2% to $134.20 after the artificial intelligence chip and systems developer reported another quarter of stellar earnings and revenue growth.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Ebay Inc. dropped 9.9% to $62.65 after the e-commerce company reported weak financial results in the latest quarter.
The company's fiscal first quarter guidance fell short of market expectations as well.
Salesforce Inc. dropped 3% to $298.50 after the customer information service company reported weaker-than-expected results in its latest quarter.
Snowflake Inc. jumped 13% to $188.10, and the cloud-based data storage company reported a surge in revenue in the fiscal fourth quarter.
The company also estimated sharply higher sales from a year ago in the current quarter.
Wall Street Indexes Advanced After Nvidia's Blowout Earnings, U.S. GDP Growth Reconfirmed at 2.3%
Barry Adams
27 Feb, 2025
New York City
Wall Street indexes opened higher amid ongoing federal policy uncertainty and growing worries about the health of the U.S. economy.
The S&P 500 index increased 0.1%, and the Nasdaq Composite rose 0.2% after the White House confirmed its plans to impose an import tax on goods shipped from China, Mexico, and Canada.
Stocks advanced amid worries that higher tariffs may take a bite out of consumer spending and nudge the economy towards a recession, but a surge in revenue and earnings in the latest quarter of Nvidia supported gains on Wall Street.
An increase in weekly jobless claims also weighed on the market sentiment.
Initial jobless claims for the week ending on February 22 rose by 22,000 from the previous week's revised level to 242,000, according to a report from the U.S. Labor Department.
Meanwhile, continuing claims, which lag by one week, decreased by 5,000 to 1.862 million.
The jobless claims data does not include claims filed by federal workers, who lost their jobs because of the actions of the newly created Department of Government Efficiency.
The U.S. economy expanded at an annual pace of 2.3% in the fourth quarter, slower than 3.1% in the previous quarter, and matched the preliminary estimate.
For the full year 2024, GDP expanded at an annual pace of 2.8%, slightly slower than 2.9% in the previous year, the U.S. Bureau of Economic Analysis reported Thursday.
U.S. new durable goods orders jumped 3.1% from the previous month to $282.3 billion in January, according to the data released by the U.S. Census Bureau.
New orders for durable goods jumped from the downwardly revised drop of 1.8% in January, largely because of a 9.8% rebound in transportation orders.
New orders, excluding defense orders, increased 3.5%, and non-defense orders, excluding volatile aircraft orders, which are generally considered a proxy for business capital spending, increased 0.8%.
U.S. Stock Movers
Nvidia Inc. jumped 2.2% to $134.20 after the artificial intelligence chip and systems developer reported another quarter of stellar earnings and revenue growth.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Ebay Inc. dropped 9.9% to $62.65 after the e-commerce company reported weak financial results in the latest quarter.
The company's fiscal first quarter guidance fell short of market expectations as well.
Salesforce Inc. dropped 3% to $298.50 after the customer information service company reported weaker-than-expected results in its latest quarter.
Snowflake Inc. jumped 13% to $188.10, and the cloud-based data storage company reported a surge in revenue in the fiscal fourth quarter.
The company also estimated sharply higher sales from a year ago in the current quarter.
U.S. Movers: Bath & Body Works, eBay, Nvidia, Lowe's, Morningstar, Salesforce.com, Snowflake, Synopsys, TJX Companies
Scott Peters
27 Feb, 2025
New York City
Lowe’s Companies Inc. gained 1.9% to $247.07 after the home improvement retailer reported higher earnings in the fourth quarter ending in January.
Net sales decreased to $18.55 billion from $18.60 billion, net earnings jumped to $1.12 billion from $1.02 billion, and earnings per diluted share rose to $1.99 from $1.77 a year ago.
Comparable sales for the quarter increased 0.2%, driven by online comparable sales, strong holiday performance, and rebuilding efforts in the wake of recent hurricanes.
The company guided fiscal 2025 sales between $83.5 billion and $84.5 billion, compared to $83.67 billion in 2024, comparable sales to be flat to up 1%, and earnings per diluted share between $12.15 and $12.40, compared to $12.23 in 2024.
TJX Companies Inc. gained 1.8% to $124.89 after the off-price department store chain reported higher comparable sales in the fourth quarter of fiscal 2025 ending in February.
Net sales dropped to $16.35 billion from $16.41 billion, net income declined to $1.39 billion from $1.40 billion, and earnings per diluted share rose to $1.23 from $1.22 a year ago.
Consolidated comparable store sales in the quarter increased 5%, well above the company’s plan, and they were driven by an increase in customer transactions.
The company returned $4.1 billion to shareholders in fiscal 2025 through share repurchases and dividends.
Snowflake Inc. surged 9.1% to $181.25 after the cloud-based data storage company reported a revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue jumped to $986.77 million from $774.70 million, net loss expanded to $327.47 million from a loss of $169.35 million, and loss per diluted share increased to 99 cents from a loss of 51 cents a year ago.
The company guided for the first quarter of fiscal 2026 product revenue between $955 million and $960 million, an increase of 21% to 22% from the same period a year ago.
Synopsys Inc. gained 2.05% to $480.09 after the electronic design automation company reported results for the first quarter of fiscal 2025 ending in January.
Revenue declined to $1.45 billion from $1.51 billion, net income dropped to $295.68 million from $449.11 million, and earnings per diluted share fell to $1.89 from $2.89 a year ago.
The company guided for the second quarter of fiscal 2025 GAAP earnings per diluted share between $2.21 and $2.33, compared to $2.89 a year ago.
Non-GAAP earnings per diluted share are estimated between $3.37 and $3.42, compared to $3.56 in the second quarter of 2024.
Nvidia Corp. gained 0.1% to $131.40 after the artificial intelligence chipmaker reported a 78% revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue increased 78% to $39.33 billion from $22.10 billion, net income jumped 80% to $22.09 billion from $12.28 billion, and earnings per diluted share rose 82% to 89 cents from 49 cents a year ago.
The company guided for the first quarter of 2026 revenue of $43.0 billion, plus or minus 2%, compared to $26.04 billion for the same period in fiscal 2025.
Salesforce Inc. dropped 4.7% to $292.80 after the cloud-based software company missed analyst expectations during the fourth quarter of fiscal 2025 ending in January.
Revenue increased to $9.99 billion from $9.29 billion, net income jumped to $1.71 billion from $1.45 billion, and earnings per diluted share climbed to $1.75 from $1.47 a year ago.
The company guided fiscal 2026 revenue between $40.5 billion and $40.9 billion, up 7% to 8% compared to $37.9 billion in fiscal 2025.
Subscription and support revenue is expected to increase by approximately 8.5% from the previous financial year.
Bath & Body Works Inc. dropped 3.4% to $39.68 after the specialty retailer reported lower profit for the fourth quarter of fiscal 2024 ending in December.
Net sales decreased to $2.79 billion from $2.91 billion, net income declined to $453 million from $579 million, and earnings per diluted share fell to $2.09 from $2.55 a year ago.
The company guided for the first quarter of 2025 sales growth between 1% and 3%, compared to sales of $1.38 billion a year ago, and earnings per diluted share between 36 cents and 43 cents, compared to 38 cents in the first quarter of 2024.
The guidance reflects the impact of recently enacted tariffs on goods imported from China and excludes potential impacts from other possible tariff changes.
Bath & Body Works gave authorization to repurchase up to $500 million of the company’s shares, which replaced the $120 million remaining authority under the January 2024 program.
eBay Inc. plunged 8% to $63.60 after the e-commerce company reported only a slight revenue increase for the fourth quarter ending in December.
Revenue increased 1% to $2.58 billion from $2.56 billion, net income dropped 7% to $680 million from $728 million, and earnings per diluted share remained flat at $1.40 compared to the same quarter a year ago.
The company guided first quarter of fiscal 2025 revenue between $2.52 billion and $2.56 billion, compared to $2.56 billion a year ago, and GAAP earnings per diluted share between 98 cents and $1.02, compared to 85 cents in the same quarter in 2024.
eBay proposed a cash dividend of 29 cents per share, payable on March 28 to stockholders on record as of March 14.
Morningstar Inc. traded flat at $319.96 after the financial data services company reported increased revenue in the fourth quarter ending in December.
Revenue increased 9.7% to $591.0 million from $538.7 million, consolidated net income surged 59% to $116.9 million from $73.5 million, and earnings per diluted share rose 58.5% to $2.71 from $1.71 a year ago.
In 2024, the company paid $69.3 million in dividends and repurchased $11.6 million of its shares while reducing its debt by $273.8 million.
U.S. Movers: Bath & Body Works, eBay, Nvidia, Lowe's, Morningstar, Salesforce.com, Snowflake, Synopsys, TJX Companies
Scott Peters
27 Feb, 2025
New York City
Lowe’s Companies Inc. gained 1.9% to $247.07 after the home improvement retailer reported higher earnings in the fourth quarter ending in January.
Net sales decreased to $18.55 billion from $18.60 billion, net earnings jumped to $1.12 billion from $1.02 billion, and earnings per diluted share rose to $1.99 from $1.77 a year ago.
Comparable sales for the quarter increased 0.2%, driven by online comparable sales, strong holiday performance, and rebuilding efforts in the wake of recent hurricanes.
The company guided fiscal 2025 sales between $83.5 billion and $84.5 billion, compared to $83.67 billion in 2024, comparable sales to be flat to up 1%, and earnings per diluted share between $12.15 and $12.40, compared to $12.23 in 2024.
TJX Companies Inc. gained 1.8% to $124.89 after the off-price department store chain reported higher comparable sales in the fourth quarter of fiscal 2025 ending in February.
Net sales dropped to $16.35 billion from $16.41 billion, net income declined to $1.39 billion from $1.40 billion, and earnings per diluted share rose to $1.23 from $1.22 a year ago.
Consolidated comparable store sales in the quarter increased 5%, well above the company’s plan, and they were driven by an increase in customer transactions.
The company returned $4.1 billion to shareholders in fiscal 2025 through share repurchases and dividends.
Snowflake Inc. surged 9.1% to $181.25 after the cloud-based data storage company reported a revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue jumped to $986.77 million from $774.70 million, net loss expanded to $327.47 million from a loss of $169.35 million, and loss per diluted share increased to 99 cents from a loss of 51 cents a year ago.
The company guided for the first quarter of fiscal 2026 product revenue between $955 million and $960 million, an increase of 21% to 22% from the same period a year ago.
Synopsys Inc. gained 2.05% to $480.09 after the electronic design automation company reported results for the first quarter of fiscal 2025 ending in January.
Revenue declined to $1.45 billion from $1.51 billion, net income dropped to $295.68 million from $449.11 million, and earnings per diluted share fell to $1.89 from $2.89 a year ago.
The company guided for the second quarter of fiscal 2025 GAAP earnings per diluted share between $2.21 and $2.33, compared to $2.89 a year ago.
Non-GAAP earnings per diluted share are estimated between $3.37 and $3.42, compared to $3.56 in the second quarter of 2024.
Nvidia Corp. gained 0.1% to $131.40 after the artificial intelligence chipmaker reported a 78% revenue increase in the fourth quarter of fiscal 2025 ending in January.
Revenue increased 78% to $39.33 billion from $22.10 billion, net income jumped 80% to $22.09 billion from $12.28 billion, and earnings per diluted share rose 82% to 89 cents from 49 cents a year ago.
The company guided for the first quarter of 2026 revenue of $43.0 billion, plus or minus 2%, compared to $26.04 billion for the same period in fiscal 2025.
Salesforce Inc. dropped 4.7% to $292.80 after the cloud-based software company missed analyst expectations during the fourth quarter of fiscal 2025 ending in January.
Revenue increased to $9.99 billion from $9.29 billion, net income jumped to $1.71 billion from $1.45 billion, and earnings per diluted share climbed to $1.75 from $1.47 a year ago.
The company guided fiscal 2026 revenue between $40.5 billion and $40.9 billion, up 7% to 8% compared to $37.9 billion in fiscal 2025.
Subscription and support revenue is expected to increase by approximately 8.5% from the previous financial year.
Bath & Body Works Inc. dropped 3.4% to $39.68 after the specialty retailer reported lower profit for the fourth quarter of fiscal 2024 ending in December.
Net sales decreased to $2.79 billion from $2.91 billion, net income declined to $453 million from $579 million, and earnings per diluted share fell to $2.09 from $2.55 a year ago.
The company guided for the first quarter of 2025 sales growth between 1% and 3%, compared to sales of $1.38 billion a year ago, and earnings per diluted share between 36 cents and 43 cents, compared to 38 cents in the first quarter of 2024.
The guidance reflects the impact of recently enacted tariffs on goods imported from China and excludes potential impacts from other possible tariff changes.
Bath & Body Works gave authorization to repurchase up to $500 million of the company’s shares, which replaced the $120 million remaining authority under the January 2024 program.
eBay Inc. plunged 8% to $63.60 after the e-commerce company reported only a slight revenue increase for the fourth quarter ending in December.
Revenue increased 1% to $2.58 billion from $2.56 billion, net income dropped 7% to $680 million from $728 million, and earnings per diluted share remained flat at $1.40 compared to the same quarter a year ago.
The company guided first quarter of fiscal 2025 revenue between $2.52 billion and $2.56 billion, compared to $2.56 billion a year ago, and GAAP earnings per diluted share between 98 cents and $1.02, compared to 85 cents in the same quarter in 2024.
eBay proposed a cash dividend of 29 cents per share, payable on March 28 to stockholders on record as of March 14.
Morningstar Inc. traded flat at $319.96 after the financial data services company reported increased revenue in the fourth quarter ending in December.
Revenue increased 9.7% to $591.0 million from $538.7 million, consolidated net income surged 59% to $116.9 million from $73.5 million, and earnings per diluted share rose 58.5% to $2.71 from $1.71 a year ago.
In 2024, the company paid $69.3 million in dividends and repurchased $11.6 million of its shares while reducing its debt by $273.8 million.
Europe Movers: Beiersdorf, Covestro, Eni, London Stock Exchange, Rolls-Royce, Sulzer, Telefonica
Inga Muller
27 Feb, 2025
Frankfurt
Covestro AG dropped 0.3% to €58.52 after the producer of polyurethane and polycarbonate raw materials reported lower sales in fiscal 2024 ending in December.
Sales decreased to €14.18 billion from €14.38 billion, net loss expanded to €266 million from €198 million, and loss per share deepened to €1.41 from a loss of €1.05 a year ago.
The company guided fiscal 2025 sales between €14.5 billion and €15.5 billion and financial results between €120 million and €160 million, compared to €114 million in 2024.
Sulzer AG gained 2.7% to CHF 145.80 after the Swiss industrial engineering and manufacturing company reported improved sales in the fiscal year 2024 ending in December.
Sales increased 7.6% to CHF 3.53 billion from CHF 3.28 billion, net income jumped to CHF 265.4 million from CHF 230.5 million, and earnings per diluted share climbed to CHF 7.64 from CHF 6.67 a year ago.
For fiscal 2025, the company estimated sales growth between 5% and 8%, intake order growth between 2% and 5%, and the EBITDA margin to improve to above 15% of sales.
Sulzer proposed a dividend of CHF 4.25 per share to the annual general meeting on April 23, compared to a dividend of CHF 3.75 per share in 2024.
Telefonica gained 0.5% to €4.33 after the Spanish telecom company reported a revenue increase in the fourth quarter of fiscal 2024, and net loss narrowed.
Revenue jumped 5.4% to €10.70 billion from €10.15 billion, net loss narrowed to €1.00 billion from €2.15 billion, and loss per basic share declined to 19 cents from a loss of 39 cents a year ago.
The company proposed to pay a cash dividend of 15 cents per share in June 2025, a dividend of 15 cents per share in December 2025, and a dividend of 15 cents per share in June 2026.
Beiersdorf AG traded flat at €127.15 after the parent company of Nivea cream reported higher sales in fiscal 2024 ending in December.
Group sales increased to €9.85 billion from €9.45 billion, operating EBIT income jumped to €1.29 billion from €1.10 billion, and earnings per share rose to €4.05 from €3.24 a year ago.
The company plans to repurchase shares for up to €500 million following the annual general meeting, to be completed by the end of 2025.
Beiersdorf paid dividends of $1.05 per share within the last 12 months, corresponding to a dividend yield of 0.79%.
London Stock Exchange Group Plc. gained 3.3% to 11,470 pence after the provider of financial markets data and trading infrastructure reported fiscal 2024 results.
Revenue increased to £8.58 billion from £8.06 billion, profit declined to £921 million from £948 million, and earnings per diluted share fell to 128.0 pence from 138.1 pence a year ago.
The dividend declared for the year rose to 89.0 pence per share, compared to 79.3 pence per share a year ago, giving a total for the year of 130.0 pence, up 13.0% from 2023.
The company guided for fiscal 2025 organic growth in total income between 6.5% and 7.5%, excluding recoveries and on a constant currency basis.
LSE plans to execute a share buyback of £500 million by July 2025.
Rolls-Royce Holdings Plc. surged 15.4% to 728.20 pence after the British aerospace and defense company reported strong results for fiscal 2024 ending in December.
Statutory revenue increased to £18.91 billion from £16.49 billion, profit jumped to £2.48 billion from £2.40 billion, and earnings per diluted share rose to 29.87 pence from 28.70 pence a year ago.
The company proposed a dividend of 6.0 pence per share for 2024, based on a 30% payout ratio of the underlying profit after tax.
Rolls-Royce guided for fiscal 2025 underlying operating profit between £2.7 billion and £2.9 billion, compared to £2.5 billion in 2024.
The company will commence a £1 billion share buyback program immediately and for completion through 2025.
Eni S.p.A. edged up 0.2% to €14.31 after the Italian energy company missed analysts’ expectations in the fourth quarter ending in December.
Revenue declined 5% to €23.49 billion from €24.62 billion, net profit jumped to €247 million from €173 million, and earnings per diluted share rose to 7 cents from 5 cents a year ago.
In 2024, the company paid dividends worth €227 million and returned over €5 billion to shareholders, driven by underlying performance and deleveraging.
Europe Movers: Beiersdorf, Covestro, Eni, London Stock Exchange, Rolls-Royce, Sulzer, Telefonica
Inga Muller
27 Feb, 2025
Frankfurt
Covestro AG dropped 0.3% to €58.52 after the producer of polyurethane and polycarbonate raw materials reported lower sales in fiscal 2024 ending in December.
Sales decreased to €14.18 billion from €14.38 billion, net loss expanded to €266 million from €198 million, and loss per share deepened to €1.41 from a loss of €1.05 a year ago.
The company guided fiscal 2025 sales between €14.5 billion and €15.5 billion and financial results between €120 million and €160 million, compared to €114 million in 2024.
Sulzer AG gained 2.7% to CHF 145.80 after the Swiss industrial engineering and manufacturing company reported improved sales in the fiscal year 2024 ending in December.
Sales increased 7.6% to CHF 3.53 billion from CHF 3.28 billion, net income jumped to CHF 265.4 million from CHF 230.5 million, and earnings per diluted share climbed to CHF 7.64 from CHF 6.67 a year ago.
For fiscal 2025, the company estimated sales growth between 5% and 8%, intake order growth between 2% and 5%, and the EBITDA margin to improve to above 15% of sales.
Sulzer proposed a dividend of CHF 4.25 per share to the annual general meeting on April 23, compared to a dividend of CHF 3.75 per share in 2024.
Telefonica gained 0.5% to €4.33 after the Spanish telecom company reported a revenue increase in the fourth quarter of fiscal 2024, and net loss narrowed.
Revenue jumped 5.4% to €10.70 billion from €10.15 billion, net loss narrowed to €1.00 billion from €2.15 billion, and loss per basic share declined to 19 cents from a loss of 39 cents a year ago.
The company proposed to pay a cash dividend of 15 cents per share in June 2025, a dividend of 15 cents per share in December 2025, and a dividend of 15 cents per share in June 2026.
Beiersdorf AG traded flat at €127.15 after the parent company of Nivea cream reported higher sales in fiscal 2024 ending in December.
Group sales increased to €9.85 billion from €9.45 billion, operating EBIT income jumped to €1.29 billion from €1.10 billion, and earnings per share rose to €4.05 from €3.24 a year ago.
The company plans to repurchase shares for up to €500 million following the annual general meeting, to be completed by the end of 2025.
Beiersdorf paid dividends of $1.05 per share within the last 12 months, corresponding to a dividend yield of 0.79%.
London Stock Exchange Group Plc. gained 3.3% to 11,470 pence after the provider of financial markets data and trading infrastructure reported fiscal 2024 results.
Revenue increased to £8.58 billion from £8.06 billion, profit declined to £921 million from £948 million, and earnings per diluted share fell to 128.0 pence from 138.1 pence a year ago.
The dividend declared for the year rose to 89.0 pence per share, compared to 79.3 pence per share a year ago, giving a total for the year of 130.0 pence, up 13.0% from 2023.
The company guided for fiscal 2025 organic growth in total income between 6.5% and 7.5%, excluding recoveries and on a constant currency basis.
LSE plans to execute a share buyback of £500 million by July 2025.
Rolls-Royce Holdings Plc. surged 15.4% to 728.20 pence after the British aerospace and defense company reported strong results for fiscal 2024 ending in December.
Statutory revenue increased to £18.91 billion from £16.49 billion, profit jumped to £2.48 billion from £2.40 billion, and earnings per diluted share rose to 29.87 pence from 28.70 pence a year ago.
The company proposed a dividend of 6.0 pence per share for 2024, based on a 30% payout ratio of the underlying profit after tax.
Rolls-Royce guided for fiscal 2025 underlying operating profit between £2.7 billion and £2.9 billion, compared to £2.5 billion in 2024.
The company will commence a £1 billion share buyback program immediately and for completion through 2025.
Eni S.p.A. edged up 0.2% to €14.31 after the Italian energy company missed analysts’ expectations in the fourth quarter ending in December.
Revenue declined 5% to €23.49 billion from €24.62 billion, net profit jumped to €247 million from €173 million, and earnings per diluted share rose to 7 cents from 5 cents a year ago.
In 2024, the company paid dividends worth €227 million and returned over €5 billion to shareholders, driven by underlying performance and deleveraging.
Europe's Economic Sentiment Index Jumped to 5-Month High, Swiss GDP Growth Accelerated In 2024
Bridgette Randall
27 Feb, 2025
London
European markets traded in a tight range and hovered near recent highs amid improving market sentiment.
Benchmark indexes in Frankfurt edged lower, but they in Paris, Milan, and London edged slightly higher.
The Economic Sentiment Index for the Euro Area rose to a five-month high, the European Commission said in a report today.
The sentiment indicator increased to 96.3 in February from the upwardly revised 95.3 in January, amid softening pessimism among industrial goods producers.
On the economic front, France's producer price index declined for the 14th consecutive month, INSEE reported Thursday.
On a yearly basis, the producer price index decreased 2.1% in January after 3.8% in February.
The Swiss economy expanded in the fourth quarter at a slower annual pace, driven by a rise in net exports, the State Secretariat for Economic Affairs reported Thursday.
GDP expanded at an annual pace of 1.5%, slower than 1.9% in the previous quarter, after exports rose 7% and imports advanced 2.8%.
For the full year 2024, Swiss GDP accelerated to 1.3% from 0.7% in 2023, but slower than 3% in 2022.
Europe Indexes and Yields
The DAX index decreased by 0.7% to 22,642.22, the CAC-40 index edged lower 0.3% to 8,118.75; and the FTSE 100 index advanced by 0.2% to 8,748.36.
The yield on 10-year German bonds inched higher to 2.45%, French bonds increased to 3.17%, the UK gilts moved up to 4.52%, and Italian bonds edged higher to 3.51%.
The euro decreased to $1.05; the British pound was lower at $1.27; and the U.S. dollar was higher and traded at 89.75 Swiss cents.
Brent crude increased $0.79 to $73.32 a barrel, and the Dutch TTF natural gas was higher by €2.74 to €44.18 per MWh.
Europe Movers
Automakers were under pressure amid looming U.S. tariff threats and falling sales in China.
Volkswagen AG decreased 1.5% to €104.35, Renault SA gained 0.7% to €50.0, Stellantis NV declined 1.5% to €12.56, and BMW AG fell 2.7% to €84.56.
Mercedes-Benz Group advanced 5.5% to €17.0, and the German luxury automaker said it plans to cut jobs in China amid rising local competition.
Beiersdorf AG rose 3.5% to €131.65 after the parent company of Nivea cream announced a new stock buyback program.
Nordex SE decreased 1.4% to €12.51, despite the German wind turbine company's full-year 2024 earnings surpassing market expectations.
Eni SpA decreased 0.6% to €14.19 after the Italian energy company reported weaker-than-expected financial results in the fourth quarter.
AXA SA dropped 1.7% to €37.62 after the French insurance company announced €100 million in losses before taxes and net of reinsurance linked to wildfires in Los Angeles, California.
Engie SA jumped 6% to €17.52 after the French utility revised higher its 2025 outlook.
Swiss Re AG gained 2.2% to CHF 147.50, and the reinsurance company reported strong results in 2024 and reiterated its current year outlook.
Rolls Royce Holdings jumped 20% to 757.13 pence, and the aviation and power company upgraded its current year outlook following stronger-than-expected annual earnings.
WPP PLC dropped 15.5% to 650.40 pence after the UK-based advertising company estimated sales in the current year are likely to be flat or decline.
Europe's Economic Sentiment Index Jumped to 5-Month High, Swiss GDP Growth Accelerated In 2024
Bridgette Randall
27 Feb, 2025
London
European markets traded in a tight range and hovered near recent highs amid improving market sentiment.
Benchmark indexes in Frankfurt edged lower, but they in Paris, Milan, and London edged slightly higher.
The Economic Sentiment Index for the Euro Area rose to a five-month high, the European Commission said in a report today.
The sentiment indicator increased to 96.3 in February from the upwardly revised 95.3 in January, amid softening pessimism among industrial goods producers.
On the economic front, France's producer price index declined for the 14th consecutive month, INSEE reported Thursday.
On a yearly basis, the producer price index decreased 2.1% in January after 3.8% in February.
The Swiss economy expanded in the fourth quarter at a slower annual pace, driven by a rise in net exports, the State Secretariat for Economic Affairs reported Thursday.
GDP expanded at an annual pace of 1.5%, slower than 1.9% in the previous quarter, after exports rose 7% and imports advanced 2.8%.
For the full year 2024, Swiss GDP accelerated to 1.3% from 0.7% in 2023, but slower than 3% in 2022.
Europe Movers
Automakers were under pressure amid looming U.S. tariff threats and falling sales in China.
Volkswagen AG decreased 1.5% to €104.35, Renault SA gained 0.7% to €50.0, Stellantis NV declined 1.5% to €12.56, and BMW AG fell 2.7% to €84.56.
Mercedes-Benz Group advanced 5.5% to €17.0, and the German luxury automaker said it plans to cut jobs in China amid rising local competition.
Beiersdorf AG rose 3.5% to €131.65 after the parent company of Nivea cream announced a new stock buyback program.
Nordex SE decreased 1.4% to €12.51, despite the German wind turbine company's full-year 2024 earnings surpassing market expectations.
Eni SpA decreased 0.6% to €14.19 after the Italian energy company reported weaker-than-expected financial results in the fourth quarter.
AXA SA dropped 1.7% to €37.62 after the French insurance company announced €100 million in losses before taxes and net of reinsurance linked to wildfires in Los Angeles, California.
Engie SA jumped 6% to €17.52 after the French utility revised higher its 2025 outlook.
Swiss Re AG gained 2.2% to CHF 147.50, and the reinsurance company reported strong results in 2024 and reiterated its current year outlook.
Rolls Royce Holdings jumped 20% to 757.13 pence, and the aviation and power company upgraded its current year outlook following stronger-than-expected annual earnings.
WPP PLC dropped 15.5% to 650.40 pence after the UK-based advertising company estimated sales in the current year are likely to be flat or decline.
Japan Indexes Halted Two-Day Slide, Seven & I Dropped 11% After Management Buyout Collapsed
Akira Ito
27 Feb, 2025
Tokyo
Japan's indexes halted a two-day slide ahead of the release of key economic updates on Friday.
The Nikkei 225 stock average increased 0.3%, and the broader TOPIX advanced 0.7% after benchmark indexes in New York stabilized.
Stocks advanced, and the semiconductor equipment makers led the gainers in Tokyo after Nvidia reported a sharp jump in earnings and offered a better-than-expected outlook in the current quarter.
Investors have been on the defensive after China's startup DeepSeek released a cheaper alternative for artificial intelligence, raising the prospects of fewer new customers for Nvidia's expensive chips.
However, those worries were set aside after Nvidia reported fourth quarter results.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Investors are looking ahead to the release of key economic updates on Friday, including industrial production, retail sales, and Tokyo-area inflation.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 38,259.96, and the broader TOPIX advanced 0.7% to 2,734.66.
Tokyo Electron increased 1.2% to ¥23,220.0, Advantest Corp. fell 1.8% to ¥8,906.0, and Disco Corp. jumped 2% to ¥41,930.0.
Seven & I Holding dropped 10.6% to ¥2,125.0, and the management buyout of the company fell apart on financing issues.
The parent company of Seven Eleven failed to arrange financing for its 8 trillion yen, or $53.7 billion, buyout.
Itochu was reportedly considering participating with one trillion yen, and at least three other large banks were involved in arranging the financing for a complex deal.
The Yomiuri newspaper first reported that the company has abandoned its buyout plan amid difficulties in arranging financing.
Itochu jumped 4.4% after the trading house said it no longer plans to participate in the Seven & I buyout.
Japan Indexes Halted Two-Day Slide, Seven & I Dropped 11% After Management Buyout Collaps
Akira Ito
27 Feb, 2025
Tokyo
Japan's indexes halted a two-day slide ahead of the release of key economic updates on Friday.
The Nikkei 225 stock average increased 0.3%, and the broader TOPIX advanced 0.7% after benchmark indexes in New York stabilized.
Stocks advanced, and the semiconductor equipment makers led the gainers in Tokyo after Nvidia reported a sharp jump in earnings and offered a better-than-expected outlook in the current quarter.
Investors have been on the defensive after China's startup DeepSeek released a cheaper alternative for artificial intelligence, raising the prospects of fewer new customers for Nvidia's expensive chips.
However, those worries were set aside after Nvidia reported fourth quarter results.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Investors are looking ahead to the release of key economic updates on Friday, including industrial production, retail sales, and Tokyo-area inflation.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 38,259.96, and the broader TOPIX advanced 0.7% to 2,734.66.
Tokyo Electron increased 1.2% to ¥23,220.0, Advantest Corp. fell 1.8% to ¥8,906.0, and Disco Corp. jumped 2% to ¥41,930.0.
Seven & I Holding dropped 10.6% to ¥2,125.0, and the management buyout of the company fell apart on financing issues.
The parent company of Seven Eleven failed to arrange financing for its 8 trillion yen, or $53.7 billion, buyout.
Itochu was reportedly considering participating with one trillion yen, and at least three other large banks were involved in arranging the financing for a complex deal.
The Yomiuri newspaper first reported that the company has abandoned its buyout plan amid difficulties in arranging financing.
Itochu jumped 4.4% after the trading house said it no longer plans to participate in the Seven & I buyout.
Stock Movers: Anand Rathi Wealth, DAM Capital, Gillete India, KP Energy, NINec Systems, Swaraj Engines, Shilchar Technologies, Tips Music
Arun Goswami
27 Feb, 2025
Mumbai
Tips Music Ltd. increased 0.4% to ₹633.95 after the entertainment company reported a 30% increase in net income in the December quarter.
Consolidated revenue increased to ₹81.8 crore from ₹68.3 crore, after-tax profit rose to ₹44.2 crore from ₹34.7 crore, and diluted earnings per share jumped to ₹3.46 from ₹2.70 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹3 per share.
Shilchar Technologies Ltd. decreased 4.1% to ₹5,864.25 despite the transformer maker reporting a 33% surge in net income in the December quarter.
Consolidated revenue advanced to ₹158.5 crore from ₹121.1 crore, net income rose to ₹34.8 crore from ₹26.1 crore, and diluted earnings per share increased to ₹45.59 from ₹34.21 a year ago.
DAM Capital Advisors Limited dropped 1.8% to ₹222 despite the financial solutions provider reporting a sharp increase in revenue and earnings.
Consolidated revenue increased to ₹104 crore from ₹45 crore, after-tax profit rose to ₹51.5 crore from ₹21.1 crore, and diluted earnings per share jumped to ₹7.29 from ₹2.98 a year ago.
NINtec Systems Ltd. fell 2% to ₹477 despite the software services and solutions provider reporting a 72% surge from a year ago in the December quarter net income.
Consolidated revenue advanced to ₹36 crore from ₹24 crore, net income jumped to ₹6.7 crore from ₹3.9 crore, and diluted earnings per share rose to ₹3.62 from ₹2.08 a year ago.
Gillette India Limited rose 1% to ₹8,293.75 after the grooming and oral care products maker reported a slight increase in revenue and net income in the December quarter.
Consolidated revenue increased to ₹694.7 crore from ₹646.7 crore, after-tax profit advanced to ₹126 crore from ₹104 crore, and diluted earnings per share rose to ₹38.66 from ₹31.91 a year ago.
Anand Rathi Wealth Limited decreased 0.6% to ₹4,013.90 despite the wealth management company reporting a 30% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹244.2 crore from ₹187.3 crore, net income jumped to ₹77.3 crore from ₹58 crore, and diluted earnings per share rose to ₹18.58 from ₹13.87 a year ago.
KP Energy Ltd. declined 2.5% to ₹391.40 despite wind farm developers reporting a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹212.6 crore from ₹83.3 crore, after-tax profit jumped to ₹26.4 crore from ₹9.25 crore, and diluted earnings per share rose to ₹3.94 from ₹1.39 a year ago.
The company's board declared a third interim dividend of ₹3 per share.
Swaraj Engines Limited plunged 1.5% to ₹2,720 despite the diesel engine maker reporting a 33% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹349.2 crore from ₹282.9 crore, net income jumped to ₹32 crore from ₹24.1 crore, and diluted earnings per share rose to ₹26.30 from ₹19.83 a year ago.
Tech Stocks In Hong Kong Extend Recent Losses, HKEX Reports Record Profit and Declares Second Dividend
Li Chen
27 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong turned lower, and investors looked ahead to announcements from policymakers next week.
The Hang Seng index decreased more than 1% and turned lower for the second consecutive session after reaching a three-year high last week.
The CSI 300 index decreased 0.3% and extended losses in the week, as investors remained cautious ahead of the National People's Congress, the annual legislative meeting next week.
After the weeklong meeting, policymakers are set to announce an economic growth target, fiscal deficit plans, and other key measures to support the economic expansion.
Investors are looking forward to more clarity on the previously announced stimulus measures and how they will revive the flailing property market and bolster consumer confidence.
Mainland and foreign investors have been increasing exposure to tech stocks listed in Hong Kong amid expectations that the affordable artificial intelligence technology from DeepSeek could provide a boost to earnings.
However, investors are also questioning the stretched valuations of Internet platform operators.
China Indexes and Stocks
The Hang Seng index declined 1% to 23,535.80, and the mainland-focused CSI 300 index dropped 0.3% to 3,950.66.
Alibaba Group Holding decreased 2.4% to HK $133.60, Tencent Holdings declined 1.5% to $494.0, and Meituan dropped 2.7% to HK $169.70.
Xiaomi Corp. dropped 7.3% to HK $169.70, CATL advanced 0.2% to HK ¥269.21, and JD.com Inc declined 1.3% to HK $165.90.
Hong Kong Exchanges and Clearing Ltd. decreased 1% to HK $357.40 after the financial services provider reported earnings in line with expectations.
Net income soared 10% to HK $13 billion from HK $11.9 billion, and earnings per share rose to HK $10.32.
The company reported record revenue and earnings in 2024 and announced a second interim dividend of HK $4.90.
Total dividend in the year increased to HK $9.26 from HK $8.41 in 2023, keeping the payout ratio to 90% of earnings.
Tech Stocks In Hong Kong Extend Recent Losses, HKEX Reports Record Profit and Declares Second Dividend
Li Chen
27 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong turned lower, and investors looked ahead to announcements from policymakers next week.
The Hang Seng index decreased more than 1% and turned lower for the second consecutive session after reaching a three-year high last week.
The CSI 300 index decreased 0.3% and extended losses in the week, as investors remained cautious ahead of the National People's Congress, the annual legislative meeting next week.
After the weeklong meeting, policymakers are set to announce an economic growth target, fiscal deficit plans, and other key measures to support the economic expansion.
Investors are looking forward to more clarity on the previously announced stimulus measures and how they will revive the flailing property market and bolster consumer confidence.
Mainland and foreign investors have been increasing exposure to tech stocks listed in Hong Kong amid expectations that the affordable artificial intelligence technology from DeepSeek could provide a boost to earnings.
However, investors are also questioning the stretched valuations of Internet platform operators.
China Indexes and Stocks
The Hang Seng index declined 1% to 23,535.80, and the mainland-focused CSI 300 index dropped 0.3% to 3,950.66.
Alibaba Group Holding decreased 2.4% to HK $133.60, Tencent Holdings declined 1.5% to $494.0, and Meituan dropped 2.7% to HK $169.70.
Xiaomi Corp. dropped 7.3% to HK $169.70, CATL advanced 0.2% to HK ¥269.21, and JD.com Inc declined 1.3% to HK $165.90.
Hong Kong Exchanges and Clearing Ltd. decreased 1% to HK $357.40 after the financial services provider reported earnings in line with expectations.
Net income soared 10% to HK $13 billion from HK $11.9 billion, and earnings per share rose to HK $10.32.
The company reported record revenue and earnings in 2024 and announced a second interim dividend of HK $4.90.
Total dividend in the year increased to HK $9.26 from HK $8.41 in 2023, keeping the payout ratio to 90% of earnings.
Wall Street Indexes Lacks Direction After Erasing Trump Election Gains
Barry Adams
26 Feb, 2025
New York City
Stock market indexes in New York advanced after falling in four consecutive sessions amid rising worries about the state of the U.S. economy.
The S&P 500 index advanced 0.4%, and the Nasdaq Composite rose 0.5%, and Nvidia's earnings after the close dominated market sentiment.
Investors also reviewed the latest earnings from Lowe's, Instacart, Stellantis, TJX, and General Motors.
On the economic front, investors are looking forward to the release of personal consumption expenditure price index, or the so called PCE on Friday, the Fed's preferred gauge of inflation which understates inflation experienced by most urban families.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,982.10, the Nasdaq Composite edged up 0.7% to 19,157.93, and the Russell 2000 index was up 0.5% to 2,181.23.
The yield on 2-year Treasury notes edged higher to 4.12%, 10-year Treasury notes decreased to 4.30%, and 30-year Treasury bonds declined to 4.55%.
WTI crude oil decreased $0.08 to $68.85 a barrel, and natural gas prices edged lower by $0.11 to $4.02 a thermal unit.
Gold decreased by $26.13 to 2,892.21 an ounce, and silver edged down by $0.18 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.25 to 106.56 and traded at a two-year high.
U.S. Stock Movers
Instacart plunged 11.4% to $43.36 despite the online grocery platform reporting a strong increase in gross transaction value and order frequency.
However, the rise in sales in the latest quarter failed to deliver the expected bump in earnings in the fourth quarter.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024.
Stellantis NV dropped 4.4% to $13.42 after the parent company of Fiat and Chrysler reported a sharp decline in earnings.
The vehicle maker held out for higher sales in 2025, and return to profitable growth and positive cash flow.
TJX Companies increased 3.5% to $127.03, and the parent company of TJ Maxx and Marshalls reported higher than-expected sales and earnings in the holiday quarter.
Lowe's advanced 4% to $253.37, and the home improvement chain reported better-than-expected results in the latest quarter.
The company said comparable sales increased 0.2%, reversing declines since the third quarter of 2022.
The retailer estimated full-year 2025 sales to range between $83.5 billion and $84.5 billion, driven by flat to an increase of 1% in comparable sales, resulting in earnings per share between $12.15 and $12.40.
General Motors advanced 7.5% to $49.97 after the vehicle maker increased its quarterly dividend and launched a $6 billion stock repurchase.
Wall Street Indexes Lacks Direction After Erasing Trump Election Gains
Barry Adams
26 Feb, 2025
New York City
Stock market indexes in New York advanced after falling in four consecutive sessions amid rising worries about the state of the U.S. economy.
The S&P 500 index advanced 0.4%, and the Nasdaq Composite rose 0.5%, and Nvidia's earnings after the close dominated market sentiment.
Investors also reviewed the latest earnings from Lowe's, Instacart, Stellantis, TJX, and General Motors.
On the economic front, investors are looking forward to the release of personal consumption expenditure price index, or the so called PCE on Friday, the Fed's preferred gauge of inflation which understates inflation experienced by most urban families.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,982.10, the Nasdaq Composite edged up 0.7% to 19,157.93, and the Russell 2000 index was up 0.5% to 2,181.23.
The yield on 2-year Treasury notes edged higher to 4.12%, 10-year Treasury notes decreased to 4.30%, and 30-year Treasury bonds declined to 4.55%.
WTI crude oil decreased $0.08 to $68.85 a barrel, and natural gas prices edged lower by $0.11 to $4.02 a thermal unit.
Gold decreased by $26.13 to 2,892.21 an ounce, and silver edged down by $0.18 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.25 to 106.56 and traded at a two-year high.
U.S. Stock Movers
Instacart plunged 11.4% to $43.36 despite the online grocery platform reporting a strong increase in gross transaction value and order frequency.
However, the rise in sales in the latest quarter failed to deliver the expected bump in earnings in the fourth quarter.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024.
Stellantis NV dropped 4.4% to $13.42 after the parent company of Fiat and Chrysler reported a sharp decline in earnings.
The vehicle maker held out for higher sales in 2025, and return to profitable growth and positive cash flow.
TJX Companies increased 3.5% to $127.03, and the parent company of TJ Maxx and Marshalls reported higher than-expected sales and earnings in the holiday quarter.
Lowe's advanced 4% to $253.37, and the home improvement chain reported better-than-expected results in the latest quarter.
The company said comparable sales increased 0.2%, reversing declines since the third quarter of 2022.
The retailer estimated full-year 2025 sales to range between $83.5 billion and $84.5 billion, driven by flat to an increase of 1% in comparable sales, resulting in earnings per share between $12.15 and $12.40.
General Motors advanced 7.5% to $49.97 after the vehicle maker increased its quarterly dividend and launched a $6 billion stock repurchase.