Market Update
Conservatives In Germany to Lead Coalition Government, Far-Right Party Makes Significant Gain
Bridgette Randall
24 Feb, 2025
London
European markets edged higher as investors digested the results of the latest general election in Germany, and bond market yields stayed elevated.
Benchmark indexes in Frankfurt and London edged higher, and in Paris and Milan, they struggled to stay above the flatline in Monday's trading.
Investors generally welcomed the German election results, and the Christian Democratic Union's leader, Friedrich Merz, will head the next coalition government.
Germany's far-right party AfD made significant gains in the general election and increased its share to 20.8% of the votes, nearly doubling its support.
On the economic front, investors are awaiting inflation reports from the eurozone, Germany, France, Italy, and Spain.
On the earnings front this week, investors are looking for forward to results from Smith & Nephew, AXA, Swiss Re, Pearson plc, Allianz, Holcim BASF, Rolls Royce, Saint-Gobain and Telefonica.
Europe Indexes and Yields
The DAX index increased by 0.7% to 22,442.25, the CAC-40 index edged lower 0.2% to 8,138.91, and the FTSE 100 index advanced by 0.3% to 8,683.27.
The yield on 10-year German bonds inched higher to 2.46%, French bonds decreased to 3.21%, the UK gilts moved down to 4.56%, and Italian bonds edged lower to 3.54%.
The euro increased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 89.88 Swiss cents.
Brent crude decreased $0.03 to $74.40 a barrel, and the Dutch TTF natural gas was higher by €0.49 to €46.40 per MWh.
Europe Stock Movers
Just Eat Takeaway.com NV soared 54% to €19.20 after the Dutch investment company Prosus NV said it plans to acquire the company for €4.1 billion.
BayWa AG declined 2.5% to €8.58, and the Swiss investment group Energy Infrastructure Partners said it plans to increase its stake in the company to 65% from 49%.
GSK plc increased 1.3% to 1,447.50 pence after the UK-based pharmacy company launched its £2 billion stock repurchase plan.
National Grid plc increased 7.5% to 972.20 pence, and the UK-based company agreed to sell its onshore renewable assets in the U.S. to Brookfield Asset Management.
B&M European Value Retail SA decreased 9.2% to 264.23 pence, and the deep discount store chain operator said its chief executive will retire at the end of April.
The retailer also lowered its annual core profit outlook.
Conservatives In Germany to Lead Coalition Government, Far-Right Party Makes Significant Gain
Bridgette Randall
24 Feb, 2025
London
European markets edged higher as investors digested the results of the latest general election in Germany, and bond market yields stayed elevated.
Benchmark indexes in Frankfurt and London edged higher, and in Paris and Milan, they struggled to stay above the flatline in Monday's trading.
Investors generally welcomed the German election results, and the Christian Democratic Union's leader, Friedrich Merz, will head the next coalition government.
Germany's far-right party AfD made significant gains in the general election and increased its share to 20.8% of the votes, nearly doubling its support.
On the economic front, investors are awaiting inflation reports from the eurozone, Germany, France, Italy, and Spain.
On the earnings front this week, investors are looking for forward to results from Smith & Nephew, AXA, Swiss Re, Pearson plc, Allianz, Holcim BASF, Rolls Royce, Saint-Gobain and Telefonica.
Europe Indexes and Yields
The DAX index increased by 0.7% to 22,442.25, the CAC-40 index edged lower 0.2% to 8,138.91, and the FTSE 100 index advanced by 0.3% to 8,683.27.
The yield on 10-year German bonds inched higher to 2.46%, French bonds decreased to 3.21%, the UK gilts moved down to 4.56%, and Italian bonds edged lower to 3.54%.
The euro increased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 89.88 Swiss cents.
Brent crude decreased $0.03 to $74.40 a barrel, and the Dutch TTF natural gas was higher by €0.49 to €46.40 per MWh.
Europe Stock Movers
Just Eat Takeaway.com NV soared 54% to €19.20 after the Dutch investment company Prosus NV said it plans to acquire the company for €4.1 billion.
BayWa AG declined 2.5% to €8.58, and the Swiss investment group Energy Infrastructure Partners said it plans to increase its stake in the company to 65% from 49%.
GSK plc increased 1.3% to 1,447.50 pence after the UK-based pharmacy company launched its £2 billion stock repurchase plan.
National Grid plc increased 7.5% to 972.20 pence, and the UK-based company agreed to sell its onshore renewable assets in the U.S. to Brookfield Asset Management.
B&M European Value Retail SA decreased 9.2% to 264.23 pence, and the deep discount store chain operator said its chief executive will retire at the end of April.
The retailer also lowered its annual core profit outlook.
Europe Movers: BayWa, Just Eat Takeaway.com, Modi, Prosus, Scandic Hotels,
Inga Muller
24 Feb, 2025
Frankfurt
European markets advanced amid optimism about German elections and a rally in defense stocks.
Europe Indexes and Yields
The DAX index increased by 0.7% to 22,442.25, the CAC-40 index edged lower 0.2% to 8,138.91, and the FTSE 100 index advanced by 0.3% to 8,683.27.
The yield on 10-year German bonds inched higher to 2.46%, French bonds decreased to 3.21%, the UK gilts moved down to 4.56%, and Italian bonds edged lower to 3.54%.
The euro increased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 89.88 Swiss cents.
Brent crude decreased $0.03 to $74.40 a barrel, and the Dutch TTF natural gas was higher by €0.49 to €46.40 per MWh.
Recent Earnings Movers
Leonardo DRS Inc. plunged 7.5% to $28.85 despite the Italian aerospace and security company reporting a revenue increase in the fourth quarter ending in December.
Revenue climbed 6% to $981 million from $926 million, net earnings climbed 20% to $89 million from $74 million, and earnings per diluted share rose to 33 cents from 28 cents a year ago.
Bookings amounted to $1.27 billion from $1.01 billion a year earlier.
Leonardo DRS received $1.3 billion in new funded contract awards during the fourth quarter and $4.1 billion for the full year.
For fiscal 2025, the company estimated revenue between $3.42 billion and $3.52 billion, compared to $3.23 billion in 2024, and adjusted earnings per diluted share between $1.02 and $1.08, compared to 93 cents last year.
Adjusted EBITDA is expected to be between $435 million and $455 million, compared to $400 million in 2024.
The company plans to repurchase $75 million in outstanding shares, or up to 0.9% of its stock, through open market repurchases.
In addition, Leonardo DRS proposed a dividend of 9 cents a share, payable on March 27 to shareholders on record as of March 13.
This represents a dividend of 36 cents per share on an annualized basis and a yield of 1.25%, with the ex-dividend date March 13 and a payout ratio of 45.57%.
Scandic Hotels Group AB eased 0.4% to 85.65 krona after the Swedish hotel chain operator reported a slight increase in revenue for the October-December quarter.
Net sales increased 1.4% to SEK 5.49 billion from SEK 5.41 billion, net profit surged to SEK 132 million from SEK 41 million, and earnings per share rose to 60 cents from 27 cents a year ago.
Earlier this year, the company repurchased 195,000 of its shares as part of its share buyback program worth SEK 300 million.
The share buyback program runs between December 9, 2924, and March 31, 2025.
Mondi Plc. eased 2.1% to 1,238 pence after the UK-based packaging and paper group reported strong results for fiscal 2024 ending in December.
Revenue increased to €7.42 billion from €7.33 billion, net income surged to €218 million from a loss of €153 million, and earnings per diluted share rose to 49.1 cents from a loss of 31.5 cents a year ago.
The company proposed a final dividend of 46.67 cents per share for a total of €206 million, payable on May 16 to shareholders on the register as of April 4.
Last year, Mondi paid total ordinary and special dividends worth €1.08 billion, compared to €345 million in 2023.
The company returned the net proceeds from the sale of its Russian assets to shareholders by way of a special dividend of €1.60 per existing ordinary share.
Mondi said that its acquisition of packaging assets from Schumacher Packaging GmbH for €634 million is on track to complete in the first half of 2025.
Societe Bic SA increased 0.3% to €61.02 after the French disposable items maker reported lower revenue in the fourth quarter ending in December.
Net sales declined to €517.5 million from €526.1 million, net income fell to €27.0 million from €45.1 million, and group earnings per share dropped to 65 cents from €1.05 a year ago.
For fiscal 2025, the company estimated net sales growth between 4% and 6% at constant currency and an adjusted EBIT margin at 15.6%, the same level as in 2024.
BIC proposed a dividend of 3.08 per share, up 8% from 2023, and worth €127 million.
In addition, the company plans a share buyback program of up to €40 million, to be executed in 2025.
Europe Movers: BayWa, Just Eat Takeaway.com, Modi, Prosus, Scandic Hotels,
Inga Muller
24 Feb, 2025
Frankfurt
China Investors Debate Valuations Amid Rally In AI-Driven Stocks
Li Chen
24 Feb, 2025
Hong Kong
Stock market indexes in Hong Kong and China edged lower in Monday's trading after surging in the previous session.
The Hang Seng index declined 0.6%, and the CSI 300 index eased 0.2%, and investors debated earnings outlook and stretched valuation for tech companies.
The Hang Seng Index and the tech index jumped 4% and more than 6% in Friday's trading amid strong demand from foreign investors and institutional investors from the mainland.
Investors have been chasing internet platform operators in the hopes that the affordable artificial intelligence technology from Deep Seek will provide another cycle of revenue and earnings growth.
Moreover, investors welcomed Alibaba Group's announcement to invest as much as $53 billion in artificial intelligence technology and tools over the next three years.
In the year so far, to Monday's close, the CSI 300 index increased 4% and the Hang Seng index advanced 19%, and Hong Kong's benchmark index is leading world markets in 2025.
China Indexes and Stocks
The Hang Seng index decreased 0.6% to 23,341.61, and the CSI 300 index dropped 0.2% to 3,969.72.
Tech stocks were in focus in Hong Kong and Shanghai trading.
Alibaba Group decreased 2% to HK $135.70, Tencent Holdings declined 4% to HK $497.20, and Badu Inc. was unchanged at HK $89.50.
China Investors Debate Valuations Amid Rally In AI-Driven Stocks
Li Chen
24 Feb, 2025
Hong Kong
Stock market indexes in Hong Kong and China edged lower in Monday's trading after surging in the previous session.
The Hang Seng index declined 0.6%, and the CSI 300 index eased 0.2%, and investors debated earnings outlook and stretched valuation for tech companies.
The Hang Seng Index and the tech index jumped 4% and more than 6% in Friday's trading amid strong demand from foreign investors and institutional investors from the mainland.
Investors have been chasing internet platform operators in the hopes that the affordable artificial intelligence technology from Deep Seek will provide another cycle of revenue and earnings growth.
Moreover, investors welcomed Alibaba Group's announcement to invest as much as $53 billion in artificial intelligence technology and tools over the next three years.
In the year so far, to Monday's close, the CSI 300 index increased 4% and the Hang Seng index advanced 19%, and Hong Kong's benchmark index is leading world markets in 2025.
China Indexes and Stocks
The Hang Seng index decreased 0.6% to 23,341.61, and the CSI 300 index dropped 0.2% to 3,969.72.
Tech stocks were in focus in Hong Kong and Shanghai trading.
Alibaba Group decreased 2% to HK $135.70, Tencent Holdings declined 4% to HK $497.20, and Badu Inc. was unchanged at HK $89.50.
India Movers: DIC India, HDFC Bank, Hindustan Adhesive, Lupin, Siemens, Vodafone Idea
Arun Goswami
24 Feb, 2025
Mumbai
Benchmark indexes in Mumbai opened sharply lower following the weakness in Friday's trading in New York. Lingering trade uncertainties also weighed on the market sentiment.
The Sensex index declined by 1% to 74,584.81, and the Nifty index decreased by 1% to 22,570.35.
On the Mumbai stock exchange, 26 stocks traded at their 52-week highs, and 213 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.62 against the U.S. dollar.
Stock Movers
Hindustan Adhesives Limited dropped 4.4% to ₹343.50 despite the company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue increased to ₹74 crore from ₹71.2 crore, after-tax profit rose to ₹4.6 crore from ₹4.5 crore, and diluted earnings per share advanced to ₹8.96 from ₹8.89 a year ago.
DIC India Limited increased 0.5% to ₹641.45 after the chemical maker's net income swung to a profit in the December quarter.
Consolidated revenue advanced to ₹223.9 crore from ₹207.6 crore, net income swung to a profit of ₹7.1 crore from a loss of ₹7.2 crore, and diluted earnings per share rose to an income of ₹7.79 from a loss of ₹7.83 a year ago.
Siemens Limited declined 2.1% to ₹4,815.65 after the technology company reported a marginal decline in revenue and a slight increase in profit in the December quarter.
Consolidated revenue decreased to ₹3,759.5 crore from ₹3,871.3 crore, net income increased to ₹614.6 crore from ₹505.7 crore, and diluted earnings per share rose to ₹17.26 from ₹14.21 a year ago.
Power Finance Corporation plunged 1.4% to ₹384.75 despite the power sector financial services provider reporting a 23% increase in net income in the December quarter.
Consolidated revenue increased to ₹26,821.8 crore from ₹23,593.4 crore, after-tax profit rose to ₹7,759.5 crore from ₹6,294.4 crore, and diluted earnings per share advanced to ₹17.66 from ₹14.33 a year ago.
VTM Limited decreased 2% to ₹198.55 despite the textile manufacturing company reporting a four-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹104 crore from ₹52.5 crore, net income jumped to ₹18.19 crore from ₹4.16 crore, and diluted earnings per share rose to ₹4.52 from ₹1.15 a year ago.
Vodafone Idea Limited fell 2.6% to ₹8.05 after the telecommunications company reported a marginal increase in revenue and a net loss decline in the December quarter.
Consolidated revenue increased to ₹11,366.8 crore from ₹10,698 crore, net loss declined to ₹6,609.3 crore from ₹6,985.9 crore, and diluted losses per share dropped to 95 paisa from ₹1.44 a year ago.
Lupin Limited rose 1.9% to ₹1,942 after the pharmaceutical company reported a 39% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹5,821.4 crore from ₹5,226.7 crore, after-tax profit rose to ₹858.8 crore from ₹618.7 crore, and diluted earnings per share jumped to ₹18.69 from ₹13.41 a year ago.
HDFC Bank Ltd. decreased 1.3% to ₹1,669 after the financial services provider reported a marginal decline in revenue and a slight increase in profit in the December quarter.
Consolidated revenue declined to ₹1,12,193 crore from ₹1,15,015 crore, net income advanced to ₹17,656.6 crore from ₹17,257.8 crore, and diluted earnings per share rose to ₹23 from ₹22.65 a year ago.
India Movers: DIC India, HDFC Bank, Hindustan Adhesive, Lupin, Siemens, Vodafone Idea
Arun Goswami
24 Feb, 2025
Mumbai
Benchmark indexes in Mumbai opened sharply lower following the weakness in Friday's trading in New York. Lingering trade uncertainties also weighed on the market sentiment.
The Sensex index declined by 1% to 74,584.81, and the Nifty index decreased by 1% to 22,570.35.
On the Mumbai stock exchange, 26 stocks traded at their 52-week highs, and 213 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.62 against the U.S. dollar.
Stock Movers
Hindustan Adhesives Limited dropped 4.4% to ₹343.50 despite the company reporting a slight increase in revenue and net income in the December quarter.
Consolidated revenue increased to ₹74 crore from ₹71.2 crore, after-tax profit rose to ₹4.6 crore from ₹4.5 crore, and diluted earnings per share advanced to ₹8.96 from ₹8.89 a year ago.
DIC India Limited increased 0.5% to ₹641.45 after the chemical maker's net income swung to a profit in the December quarter.
Consolidated revenue advanced to ₹223.9 crore from ₹207.6 crore, net income swung to a profit of ₹7.1 crore from a loss of ₹7.2 crore, and diluted earnings per share rose to an income of ₹7.79 from a loss of ₹7.83 a year ago.
Siemens Limited declined 2.1% to ₹4,815.65 after the technology company reported a marginal decline in revenue and a slight increase in profit in the December quarter.
Consolidated revenue decreased to ₹3,759.5 crore from ₹3,871.3 crore, net income increased to ₹614.6 crore from ₹505.7 crore, and diluted earnings per share rose to ₹17.26 from ₹14.21 a year ago.
Power Finance Corporation plunged 1.4% to ₹384.75 despite the power sector financial services provider reporting a 23% increase in net income in the December quarter.
Consolidated revenue increased to ₹26,821.8 crore from ₹23,593.4 crore, after-tax profit rose to ₹7,759.5 crore from ₹6,294.4 crore, and diluted earnings per share advanced to ₹17.66 from ₹14.33 a year ago.
VTM Limited decreased 2% to ₹198.55 despite the textile manufacturing company reporting a four-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹104 crore from ₹52.5 crore, net income jumped to ₹18.19 crore from ₹4.16 crore, and diluted earnings per share rose to ₹4.52 from ₹1.15 a year ago.
Vodafone Idea Limited fell 2.6% to ₹8.05 after the telecommunications company reported a marginal increase in revenue and a net loss decline in the December quarter.
Consolidated revenue increased to ₹11,366.8 crore from ₹10,698 crore, net loss declined to ₹6,609.3 crore from ₹6,985.9 crore, and diluted losses per share dropped to 95 paisa from ₹1.44 a year ago.
Lupin Limited rose 1.9% to ₹1,942 after the pharmaceutical company reported a 39% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹5,821.4 crore from ₹5,226.7 crore, after-tax profit rose to ₹858.8 crore from ₹618.7 crore, and diluted earnings per share jumped to ₹18.69 from ₹13.41 a year ago.
HDFC Bank Ltd. decreased 1.3% to ₹1,669 after the financial services provider reported a marginal decline in revenue and a slight increase in profit in the December quarter.
Consolidated revenue declined to ₹1,12,193 crore from ₹1,15,015 crore, net income advanced to ₹17,656.6 crore from ₹17,257.8 crore, and diluted earnings per share rose to ₹23 from ₹22.65 a year ago.
India Movers: DIC India, HDFC Bank, Hindustan Adhesive, Lupin, Siemens, Vodafone Idea
Arun Goswami
24 Feb, 2025
Mumbai
Movers: DIC India, HDFC Bank, Hindustan Adhesive, Lupin, Siemens, Vodafone Idea
Arun Goswami
24 Feb, 2025
Mumbai
S&P 500 and Nasdaq Hover Near Recent Highs After a Week of Listless Trading
Barry Adams
21 Feb, 2025
New York City
Benchmark indexes on Wall Street headed slightly lower in early trading as investors reviewed a fresh batch of earnings and debated future rate paths.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1%, and they are on track to register small losses after a week of trading.
Investors have retained a positive outlook because corporate earnings have so far met expectations, the macroeconomic backdrop has been stable, and labor market conditions have remained strong.
In addition, despite the recent rebound in inflation, investors continue to believe that inflation is likely to slow down in the months ahead amid weakening crude oil prices.
However, investors are beginning to lower expectations of additional rate cuts in 2025, amid worries of resurgent inflation due to a sharp rise in tariffs imposed by the Trump administration.
The Federal Reserve has paused its rate-cutting campaign since January, after lowering rates three times since September, as policymakers await evidence of further slowdown in inflation.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.3% to 6,099.36, the Nasdaq Composite edged down 0.1% to 19,935.40, and the Russell 2000 index was up 0.2% to 2,266.83.
The yield on 2-year Treasury notes edged lower to 4.27%, 10-year Treasury notes decreased to 4.50%, and 30-year Treasury bonds declined to 4.73%.
WTI crude oil decreased $1.09 to $71.38 a barrel, and natural gas prices edged higher by $0.18 to $4.34 a thermal unit.
Gold decreased by $8.15 to 2,933.54 an ounce, and silver edged down by $0.15 to $32.78.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.10 to 106.47 and traded at a two-year high.
U.S. Movers
Dropbox decreased 6.7% to $29.75 after the cloud software company reported better-than-expected sales and earnings in the latest quarter, but the paying customers declined.
Block Inc. declined 7.5% to $74.39 after the fintech company reported lower-than-expected revenue and earnings in the latest quarter.
The payment processing company posted adjusted earnings per share of 71 cents on revenue of $6.03 billion.
Celsius Holdings increased 35% to $34.50 after the energy beverage company reported sharply higher revenue and earnings in the latest quarter.
In addition, the company signed an agreement to acquire Alani Nutrition for $1.8 billion, and the purchase price includes a tax asset of $150 million.
UnitedHealth Group dropped 11.4% to $445.11 after The Wall Street Journal reported that the insurance company is under investigation by the Department of Justice, focusing on its Medicare billing practices.
S&P 500 and Nasdaq Hover Near Recent Highs After a Week of Lis
Barry Adams
21 Feb, 2025
New York City
Benchmark indexes on Wall Street headed slightly lower in early trading as investors reviewed a fresh batch of earnings and debated future rate paths.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1%, and they are on track to register small losses after a week of trading.
Investors have retained a positive outlook because corporate earnings have so far met expectations, the macroeconomic backdrop has been stable, and labor market conditions have remained strong.
In addition, despite the recent rebound in inflation, investors continue to believe that inflation is likely to slow down in the months ahead amid weakening crude oil prices.
However, investors are beginning to lower expectations of additional rate cuts in 2025, amid worries of resurgent inflation due to a sharp rise in tariffs imposed by the Trump administration.
The Federal Reserve has paused its rate-cutting campaign since January, after lowering rates three times since September, as policymakers await evidence of further slowdown in inflation.
U.S. Movers
Dropbox decreased 6.7% to $29.75 after the cloud software company reported better-than-expected sales and earnings in the latest quarter, but the paying customers declined.
Block Inc. declined 7.5% to $74.39 after the fintech company reported lower-than-expected revenue and earnings in the latest quarter.
The payment processing company posted adjusted earnings per share of 71 cents on revenue of $6.03 billion.
Celsius Holdings increased 35% to $34.50 after the energy beverage company reported sharply higher revenue and earnings in the latest quarter.
In addition, the company signed an agreement to acquire Alani Nutrition for $1.8 billion, and the purchase price includes a tax asset of $150 million.
UnitedHealth Group dropped 11.4% to $445.11 after The Wall Street Journal reported that the insurance company is under investigation by the Department of Justice, focusing on its Medicare billing practices.
U.S. Movers: Akamai Technologies, Booking Holdings, Builders FirstSource, Copart, MercadoLibre
Scott Peters
21 Feb, 2025
New York City
Akamai Technologies Inc. plunged 7.2% to $90.97 after the cybersecurity and cloud services provider reported a lower profit in the fourth quarter ending in December.
Revenue increased to $1.02 billion from $995.02 million, net income declined to $139.90 million from $161.16 million, and earnings per diluted share fell to 91 cents from $1.03 a year ago.
The company spent $138 million in the quarter to repurchase 1.4 million shares of its common stock at an average price of $97.43 per share.
Akamai had 150 million shares of common stock outstanding as of the end of 2024.
For the first quarter of 2025, the company estimated revenue between $1 billion and $1.02 billion, compared to $987.0 million in the same period in 2024.
Booking Holdings Inc. gained 2.1% to $5,125 after the travel technology company reported strong financial results for the fourth quarter ending in December.
Revenue increased to $5.47 billion from $4.78 billion, net income surged to $1.07 billion from $222 million, and earnings per basic share jumped to $32.31 from $6.37 a year ago.
Interest and dividend income in the quarter increased to $251 million from $237 million a year earlier.
In addition, the company announced a new share repurchase program of up to $20 billion.
Builders FirstSource Inc. gained 0.1% to $144.50 after the building materials supplier reported lower earnings in the fourth quarter ending in December.
Net sales declined to $3.82 billion from $4.15 billion, net income decreased to $190.2 million from $350.8 million, and earnings per diluted share fell to $1.65 from $2.83 a year ago.
For fiscal 2025, the company estimated net sales between $16.5 billion and $17.5 billion, compared to $16.40 billion in 2024.
Builders FirstSource also guided the adjusted EBITDA between $1.9 billion and $2.3 billion in 2025, compared to $2.33 billion last year.
The adjusted EBITDA margin is expected to be between 11.5% and 13.0%, compared to 14.2% in 2024.
Copart Inc. eased 0.2% to $58.12 after the global provider of online vehicle auction and remarketing services to automotive resellers reported earnings results for the second quarter of 2025 ending in January.
Revenue increased 14% to $1.16 billion from $1.02 billion, net income jumped 19% to $387.40 million from $325.63 million, and earnings per diluted share rose 21.2% to 40 cents from 33 cents a year ago.
MercadoLibre Inc. traded up 12% to $2,364 after the Argentine e-commerce and online auctions company reported strong earnings for the fourth quarter ended in December.
Revenue climbed to $6.06 billion from $4.41 billion, net income surged to $639 million from $165 million, and earnings per diluted share rose to $12.61 from $3.25 a year ago.
The company’s share price has soared since its initial public offering in August 2007.
U.S. Movers: Akamai Technologies, Booking Holdings, Builders FirstSource, Copart, MercadoLibre
Scott Peters
21 Feb, 2025
New York City
Akamai Technologies Inc. plunged 7.2% to $90.97 after the cybersecurity and cloud services provider reported a lower profit in the fourth quarter ending in December.
Revenue increased to $1.02 billion from $995.02 million, net income declined to $139.90 million from $161.16 million, and earnings per diluted share fell to 91 cents from $1.03 a year ago.
The company spent $138 million in the quarter to repurchase 1.4 million shares of its common stock at an average price of $97.43 per share.
Akamai had 150 million shares of common stock outstanding as of the end of 2024.
For the first quarter of 2025, the company estimated revenue between $1 billion and $1.02 billion, compared to $987.0 million in the same period in 2024.
Booking Holdings Inc. gained 2.1% to $5,125 after the travel technology company reported strong financial results for the fourth quarter ending in December.
Revenue increased to $5.47 billion from $4.78 billion, net income surged to $1.07 billion from $222 million, and earnings per basic share jumped to $32.31 from $6.37 a year ago.
Interest and dividend income in the quarter increased to $251 million from $237 million a year earlier.
In addition, the company announced a new share repurchase program of up to $20 billion.
Builders FirstSource Inc. gained 0.1% to $144.50 after the building materials supplier reported lower earnings in the fourth quarter ending in December.
Net sales declined to $3.82 billion from $4.15 billion, net income decreased to $190.2 million from $350.8 million, and earnings per diluted share fell to $1.65 from $2.83 a year ago.
For fiscal 2025, the company estimated net sales between $16.5 billion and $17.5 billion, compared to $16.40 billion in 2024.
Builders FirstSource also guided the adjusted EBITDA between $1.9 billion and $2.3 billion in 2025, compared to $2.33 billion last year.
The adjusted EBITDA margin is expected to be between 11.5% and 13.0%, compared to 14.2% in 2024.
Copart Inc. eased 0.2% to $58.12 after the global provider of online vehicle auction and remarketing services to automotive resellers reported earnings results for the second quarter of 2025 ending in January.
Revenue increased 14% to $1.16 billion from $1.02 billion, net income jumped 19% to $387.40 million from $325.63 million, and earnings per diluted share rose 21.2% to 40 cents from 33 cents a year ago.
MercadoLibre Inc. traded up 12% to $2,364 after the Argentine e-commerce and online auctions company reported strong earnings for the fourth quarter ended in December.
Revenue climbed to $6.06 billion from $4.41 billion, net income surged to $639 million from $165 million, and earnings per diluted share rose to $12.61 from $3.25 a year ago.
The company’s share price has soared since its initial public offering in August 2007.
European Markets Trim Weekly Losses, Eurozone Business Activity Index Improves
Bridgette Randall
21 Feb, 2025
London
European markets edged slightly higher in Friday's trading, and investors reviewed the latest business activity surveys in the Euro Area, France, and Germany, and corporate earnings in the European Union.
Benchmark indexes in Paris, Frankfurt, Milan, and London edged higher, and they trimmed weekly losses amid rising trade tensions with the U.S.
The HCOB Eurozone Composite PMI advanced to 50.2 in February, indicating a modest recovery in the private sector activities, according to a report released by S&P Global.
The HCOB Germany Composite PMI in February edged up to 51.0 from 50.5 in January, after contraction in the manufacturing sector slowed slightly.
The business activity index in Germany rose to a nine-month high, and the services sector business activity index edged lower to 52.2, down from 52.5, and the manufacturing index improved to 46.1 from 45.0 in January, respectively.
However, the business activity index in France contracted in February to 44.5 from 47.6 in January, and the index dropped to the lowest level in a year.
The UK retail sales volume expanded at the fastest pace in a year due to a rebound in food store sales, the Office for National Statistics reported Friday.
Retail sales increased monthly by 1.7%, reversing the decline in the previous five months, and slowed to an annual pace of 1% in January from the 2.8% rise in the previous month.
Europe Indexes and Yields
The DAX index increased by 0.1% to 22,336.85, the CAC-40 index edged higher 0.3% to 8,148.18, and the FTSE 100 index advanced by 0.03% to 8,665.39.
The yield on 10-year German bonds inched lower to 2.50%, French bonds decreased to 3.25%, the UK gilts moved up to 4.62%, and Italian bonds edged lower to 3.58%.
The euro decreased to $1.05; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 89.89 Swiss cents.
Brent crude decreased $0.42 to $76.06 a barrel, and the Dutch TTF natural gas was higher by €0.77 to €48.19 per MWh.
Europe Stock Movers
Standard Chartered advanced 4% to 1,185.50 pence after the British bank reported a decline in profit in the fourth quarter but announced a $1.5 billion stock buyback.
Associated British Foods plc increased 1.6% to 1,912.31 pence after the UK-based company launched its second tranche of the stock repurchase plan.
Sika AG rose 1.5% to CHF 239.30, and the Swiss construction chemical maker said sales in the fourth quarter increased 4.7% in Swiss francs to CHF 11.7 billion and net income advanced 17.4% to CHF 1.25 billion.
Air Liquide SA increased 3.5% to €178.84, and the French industrial gas producer reported higher-than-expected sales in 2024, lifting its medium-term operating margin estimate.
Repsol SA declined 1.3% to €12.78, and the Spanish energy company reported net income in 2024 plunged 45% to €1.8 billion from €3.3 billion a year ago.
The company announced its plans to increase its dividend by 30% to €0.90 in 2024 and 97.5 cents in 2025, an increase of 8.3% from the previous year.
The Spanish energy company also plans to increase its stock buyback to €700 million in the current year and reduce its capital spending.