Market Update
India Movers: Movers: 3M India, Delhivery, Edelweiss Financial, Fortis, LIC, Mazagon Dock, Oil India, Ola Electric
Arun Goswami
10 Feb, 2025
Mumbai
Stock market indexes in Mumbai dropped, and the rupee drifted to a new record low after threats of U.S. tariffs weighed.
The Sensex index decreased by 0.7% to 77,330.94, and the Nifty index declined by 0.6% to 23,389.30.
On the Mumbai stock exchange, 172 stocks traded at their 52-week highs, and 264 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 87.90 against the U.S. dollar.
Oil India Ltd. decreased 3.7% to ₹409.35, and the crude oil and natural gas company reported a 44% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹9,391.2 crore from ₹11,493.9 crore, after-tax profit declined to ₹1,457.2 crore from ₹2,607.6 crore, and diluted earnings per share fell to ₹8.23 from ₹14.43 a year ago.
3M India Ltd. plunged 1.8% to ₹27,650 after the science and technology company reported a slight increase in revenue and a 16% decline in profit in the December quarter.
Consolidated revenue increased to ₹1,106.8 crore from ₹1,022.2 crore, net income fell to ₹113.7 crore from ₹135.2 crore, and diluted earnings per share decreased to ₹100.99 from ₹120.05 a year ago.
Ola Electric Mobility Ltd. fell 3.1% to ₹67.86 after the electric vehicle maker reported December quarter results.
Consolidated revenue decreased to ₹1,172 crore from ₹1,371 crore, net loss expanded to ₹564 crore from ₹376 crore, and diluted losses per share stretched to ₹1.28 from ₹1.02 a year ago.
Mazagon Dock Shipbuilders Ltd. increased 0.2% to ₹2,235.15 after the naval vessel builder reported a 30% surge in profit from a year ago in the December quarter revenue.
Consolidated revenue increased to ₹3,430.1 crore from ₹2,631.1 crore, net income advanced to ₹807.2 crore from ₹626.8 crore, and diluted earnings per share rose to ₹20.01 from ₹15.54 a year ago.
Fortis Healthcare Ltd. declined 1.1% to ₹642.65 despite the healthcare services provider reporting an 89% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,949.2 crore from ₹1,686.5 crore, after-tax profit rose to ₹254.3 crore from ₹134.3 crore, and diluted earnings per share jumped to ₹3.28 from ₹1.78 a year ago.
Delhivery Limited decreased 2.5% to ₹308.75 despite the logistics and supply chain company reporting a sharp increase in revenue and earnings.
Consolidated revenue increased to ₹2,477 crore from ₹2,325.2 crore, net income jumped to ₹25 crore from ₹11.7 crore, and diluted earnings per share rose to 33 paise from 15 paise a year ago.
Life Insurance Corporation of India advanced 0.6% to ₹820.95 after the company reported a slight increase in net income and a 5% decline in revenue in the December quarter.
Consolidated revenue decreased to ₹2,02,930.7 crore from ₹2,13,159.4 crore, after-tax profit rose to ₹11,008.7 crore from ₹9,469 crore, and diluted earnings per share jumped to ₹17.40 from ₹14.97 a year ago.
Edelweiss Financial Services Ltd. fell 0.6% to ₹111.30, and the financial services provider reported an increase in net income in the December quarter.
Consolidated revenue decreased to ₹1,996.6 crore from ₹2,414.6 crore, net income advanced to ₹155.18 crore from ₹152.2 crore, and diluted earnings per share rose to ₹1.68 from ₹1.39 a year ago.
U.S. Job Growth Slowed by Solid In January, Wage Growth Supports Fed's Rate Case
Brian Turner
08 Feb, 2025
Washington, D.C.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
The U.S. economy added an average of 166,000 jobs a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2022.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher and inconsistent with the Fed's target rate of 2%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.
U.S. Job Growth Slowed by Solid In January, Wage Growth Supports Fed's Rate Case
Brian Turner
08 Feb, 2025
Washington, D.C.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
The U.S. economy added an average of 166,000 jobs a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2022.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher and inconsistent with the Fed's target rate of 2%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.
U.S. Movers: Amazon.com, Expedia, Hilton, Verisign
Scott Peters
07 Feb, 2025
New York City
Amazon.com Inc. dropped 2.9% to $231.98 after the company posted fourth-quarter sales, and sales growth outlook disappointed some investors.
Net sales increased to $187.79 billion from $169.96 billion, net income surged to $20.0 billion from $10.6 billion, and earnings per diluted share rose to $1.86 from $1.00 a year ago.
For the first quarter of 2025, the company estimated net sales growth of 5% to 9% to a range of $151.0 billion to $155.5 billion.
Operating income is expected to be between $14.0 billion and $18.0 billion, compared to $15.3 billion in the first quarter last year.
Amazon said it plans to boost capital expenditures to $100 billion in 2025, compared to $83 billion last year, as it continues to make investments in artificial intelligence.
The company faces increased competition from rivals, including OpenAI and Google.
Hilton Worldwide Holdings Inc. gained 0.04% to $270.50 after the hotel operator reported fourth quarter and record full-year results.
Quarterly revenue increased to $642 million from $601 million, net income surged to $505 million from $150 million, and earnings per diluted share rose to $2.06 from 57 cents a year ago.
Hilton repurchased 3.1 million shares of its common stock during the fourth quarter, bringing the total capital return, including dividends, to $781 million for the quarter and $3.0 billion for the full year.
For the first quarter of 2025, the company expects a 2.5% to 3.5% growth in revenue per available room, compared to the same period last year.
Hilton also estimated net income of $373 million to $388 million and earnings per share between $1.52 and $1.58 in the first quarter.
For the year 2025, the company expects net unit growth of 6% to 7%.
The company projects a full-year capital return of approximately $3.3 billion.
Expedia Inc. surged 10.6% to $190.80 after the travel technology company reported a 13% increase in gross bookings during the fourth quarter ending in December.
Revenue increased 10% to $3.18 billion from $2.89 billion, net income climbed 124% to $299 million from $132 million, and earnings per diluted share jumped 139% to $2.20 from 92 cents a year ago.
The company proposed a first quarter dividend of 40 cents per share, payable on March 27 to holders of record on March 6.
Expedia expects 2025 gross bookings and revenue growth of 4% to 6%.
Travel demand has remained steady in Asia Pacific, aided by the lifting of some visa restrictions in the region, as well as in Europe.
Verisign Inc. dropped 0.08% to $220 after the provider of internet infrastructure and domain name registry services reported a 3.9% sales growth in the fourth quarter, but profit declined.
Revenue jumped to $395.4 million from $380.4 million, net income declined to $191.5 million from $265.1 million, and earnings per diluted share fell to $2.0 from $2.60 a year ago.
Verisign ended the fourth quarter with 169.0 million .com and .net domain name registrations in the domain name base, a 2.1% decrease from a year ago.
In the fourth quarter, the company processed 9.5 million new domain name registrations for .com and .net, as compared to 9.0 million for the same period in 2023.
Verisign repurchased 6.6 million shares of its common stock for $1.21 billion during the full year of 2024.
As of December 31, there was $1.02 billion remaining for future share repurchases under the company’s program, which has no expiration date.
U.S. Movers: Amazon.com, Expedia, Hilton, Verisign
Scott Peters
07 Feb, 2025
New York City
Amazon.com Inc. dropped 2.9% to $231.98 after the company posted fourth-quarter sales, and sales growth outlook disappointed some investors.
Net sales increased to $187.79 billion from $169.96 billion, net income surged to $20.0 billion from $10.6 billion, and earnings per diluted share rose to $1.86 from $1.00 a year ago.
For the first quarter of 2025, the company estimated net sales growth of 5% to 9% to a range of $151.0 billion to $155.5 billion.
Operating income is expected to be between $14.0 billion and $18.0 billion, compared to $15.3 billion in the first quarter last year.
Amazon said it plans to boost capital expenditures to $100 billion in 2025, compared to $83 billion last year, as it continues to make investments in artificial intelligence.
The company faces increased competition from rivals, including OpenAI and Google.
Hilton Worldwide Holdings Inc. gained 0.04% to $270.50 after the hotel operator reported fourth quarter and record full-year results.
Quarterly revenue increased to $642 million from $601 million, net income surged to $505 million from $150 million, and earnings per diluted share rose to $2.06 from 57 cents a year ago.
Hilton repurchased 3.1 million shares of its common stock during the fourth quarter, bringing the total capital return, including dividends, to $781 million for the quarter and $3.0 billion for the full year.
For the first quarter of 2025, the company expects a 2.5% to 3.5% growth in revenue per available room, compared to the same period last year.
Hilton also estimated net income of $373 million to $388 million and earnings per share between $1.52 and $1.58 in the first quarter.
For the year 2025, the company expects net unit growth of 6% to 7%.
The company projects a full-year capital return of approximately $3.3 billion.
Expedia Inc. surged 10.6% to $190.80 after the travel technology company reported a 13% increase in gross bookings during the fourth quarter ending in December.
Revenue increased 10% to $3.18 billion from $2.89 billion, net income climbed 124% to $299 million from $132 million, and earnings per diluted share jumped 139% to $2.20 from 92 cents a year ago.
The company proposed a first quarter dividend of 40 cents per share, payable on March 27 to holders of record on March 6.
Expedia expects 2025 gross bookings and revenue growth of 4% to 6%.
Travel demand has remained steady in Asia Pacific, aided by the lifting of some visa restrictions in the region, as well as in Europe.
Verisign Inc. dropped 0.08% to $220 after the provider of internet infrastructure and domain name registry services reported a 3.9% sales growth in the fourth quarter, but profit declined.
Revenue jumped to $395.4 million from $380.4 million, net income declined to $191.5 million from $265.1 million, and earnings per diluted share fell to $2.0 from $2.60 a year ago.
Verisign ended the fourth quarter with 169.0 million .com and .net domain name registrations in the domain name base, a 2.1% decrease from a year ago.
In the fourth quarter, the company processed 9.5 million new domain name registrations for .com and .net, as compared to 9.0 million for the same period in 2023.
Verisign repurchased 6.6 million shares of its common stock for $1.21 billion during the full year of 2024.
As of December 31, there was $1.02 billion remaining for future share repurchases under the company’s program, which has no expiration date.
Wall Street Indexes Lacked Direction After Nonfarm Payrolls Report Supported Higher-for-Longer Rate Case
Barry Adams
07 Feb, 2025
New York City
Wall Street indexes lacked direction in early trading as investors reviewed the nonfarm payrolls update.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.2% after the payrolls growth slowed in January from the previous month.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
The U.S. economy added an average of 166,000 jobs a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2022.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher and inconsistent with the Fed's target rate of 2%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.
U.S. Stock Movers
Amazon.com Inc decreased 3% to $231.77 after the e-commerce company reported better-than-expected revenue and earnings in the latest quarter.
However, the company's first quarter revenue growth outlook between 5% and 9%, the weakest on record, overshadowed quarterly results.
Pinterest Inc. jumped 21% to $40.75, and the online community platform operator reported a sharp increase in net income in the fourth quarter after the user base jumped.
Hershey Company increased 1% to $154.0 after the chocolate confectionery maker reported better-than-expected adjusted earnings and revenue in the fourth quarter.
Wall Street Indexes Lacked Direction After Nonfarm Payrolls Report Supported Higher-for-Longer Rate Case
Barry Adams
07 Feb, 2025
New York City
Wall Street indexes lacked direction in early trading as investors reviewed the nonfarm payrolls update.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.2% after the payrolls growth slowed in January from the previous month.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
The U.S. economy added an average of 166,000 a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2022.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher than consistent with the Fed's target rate of 2%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.
U.S. Stock Movers
Amazon.com Inc decreased 3% to $231.77 after the e-commerce company reported better-than-expected revenue and earnings in the latest quarter.
However, the company's first quarter revenue growth outlook between 5% and 9%, the weakest on record, overshadowed quarterly results.
Pinterest Inc. jumped 21% to $40.75, and the online community platform operator reported a sharp increase in net income in the fourth quarter after the user base jumped.
Hershey Company increased 1% to $154.0 after the chocolate confectionery maker reported better-than-expected adjusted earnings and revenue in the fourth quarter.