Market Update
European Markets Advanced, UK Q4 GDP Expanded, Eurozone Industrial Output Shrank
Bridgette Randall
13 Feb, 2025
Frankfurt
Stock market indexes in Europe advanced, and investors reviewed the latest economic updates in the region.
Benchmark indexes in Frankfurt traded at a new high, but market indexes in London fell after the release of GDP figures.
Germany's consumer price inflation in January eased to an annual pace of 2.3% from an eleven-month high of 2.6% in December, according to the second estimate released by the Federal Statistical Office, or Destatis.
Eurozone industrial output fell at an annual pace of 2.0% in December, following a revised 1.8% contraction in the previous month, Eurostat said in an update on Thursday.
The UK economy unexpectedly expanded in the fourth quarter, driven by increases in activities in construction and services, the Office for National Statistics said Thursday.
Gross domestic product increased 0.1% from the third quarter, when the economy was flat.
On an annual basis, the UK economy expanded at a pace of 1.4%, compared to a 1.0% increase in the third quarter.
Europe Indexes and Yields
The DAX index increased by 0.8% to 22,317.80, the CAC-40 index edged higher 0.6% to 8,094.08, and the FTSE 100 index declined by 0.8% to 8,738.17.
The yield on 10-year German bonds inched lower to 2.47%, French bonds decreased to 3.17%, the UK gilts moved up to 4.54%, and Italian bonds edged lower to 3.53%.
The euro increased to $1.04; the British pound was higher at $1.25; and the U.S. dollar was lower and traded at 91.81 Swiss cents.
Brent crude decreased $0.50 to $74.69 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Orange SA increased 2.7% to €11.04 after the French telecom carrier met targets it set for 2024.
Delivery Hero SE jumped 8.3% to €28.43 after the German food delivery company's revenue increase in the fourth quarter surpassed market expectations.
British American Tobacco declined 7.2% to 3,151.47 pence after the tobacco company reported mixed results.
Barclays PLC decreased 5.4% to 291.10 pence, despite the British bank posting higher profit in the fiscal year 2024 and launching a £1 billion stock buyback.
Japan Indexes Extended Market Rally to Second Session, Trend Micro and Toray Industries Soared
Akira Ito
13 Feb, 2025
Tokyo
Stock market indexes in Tokyo advanced for the second session in a row, and the weaker yen boosted the outlook for earnings growth.
The Nikkei 225 stock average jumped more than 1.3%, and the TOPIX advanced 1.2% after investors reviewed the latest batch of positive earnings.
Market sentiment was boosted after the yen dropped below 154.55 against the dollar, making the Japanese assets more attractive to foreign investors and improving the profit outlook for the export-driven Japanese companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.3% to 39,461.47, and the TOPIX advanced 1.2% to 2,765.59.
Financials, retailers, and advanced equipment makers led the gainers in Tokyo.
Advantest Corp. increased 3.3% to ¥9,220.0, Tokyo Electron decreased 0.5% to ¥25,350.0, and Lasertec jumped 2% to ¥15,480.0.
SoftBank Group decreased 3.5% to ¥9,504.0, and the high-tech investment company reported a loss in the December quarter, reflecting a slump in valuation in tech companies at its Vision Fund.
Trend Micro soared 16% to ¥10,860.0 after a report suggested a heated takeover battle for the cybersecurity company.
Bain Capital and Advent International are among the few of the several companies looking to acquire the Japan-based computer security company, according to a report by Reuters.
Toray Industries jumped 8% to ¥1,020.0 after the composite materials maker reported nine-month financial results.
Net income in the third quarter increased 17% from a year ago to 19.65 billion yen but fell short of market expectations.
For the full year, the company retained a sales estimate of 2.6 trillion yen, net income of 88 billion yen, and a cash dividend of 18 yen per share.
Japan Indexes Extended Market Rally to Second Session, Trend Micro and Toray Industries Soared
Akira Ito
13 Feb, 2025
Tokyo
Stock market indexes in Tokyo advanced for the second session in a row, and the weaker yen boosted the outlook for earnings growth.
The Nikkei 225 stock average jumped more than 1.3%, and the TOPIX advanced 1.2% after investors reviewed the latest batch of positive earnings.
Market sentiment was boosted after the yen dropped below 154.55 against the dollar, making the Japanese assets more attractive to foreign investors and improving the profit outlook for the export-driven Japanese companies.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 1.3% to 39,461.47, and the TOPIX advanced 1.2% to 2,765.59.
Financials, retailers, and advanced equipment makers led the gainers in Tokyo.
Advantest Corp. increased 3.3% to ¥9,220.0, Tokyo Electron decreased 0.5% to ¥25,350.0, and Lasertec jumped 2% to ¥15,480.0.
SoftBank Group decreased 3.5% to ¥9,504.0, and the high-tech investment company reported a loss in the December quarter, reflecting a slump in valuation in tech companies at its Vision Fund.
Trend Micro soared 16% to ¥10,860.0 after a report suggested a heated takeover battle for the cybersecurity company.
Bain Capital and Advent International are among the few of the several companies looking to acquire the Japan-based computer security company, according to a report by Reuters.
Toray Industries jumped 8% to ¥1,020.0 after the composite materials maker reported nine-month financial results.
Net income in the third quarter increased 17% from a year ago to 19.65 billion yen but fell short of market expectations.
For the full year, the company retained a sales estimate of 2.6 trillion yen, net income of 88 billion yen, and a cash dividend of 18 yen per share.
DeepSeek Driven Rally Lifts Hong Kong Tech Index to Five-Month High
Li Chen
13 Feb, 2025
Hong Kong
Stock market indexes in Hong Kong extended gains amid continued demand for tech stocks.
The Hang Seng index advanced nearly 2%, but the mainland-focused CSI 300 index declined a fraction.
The Hang Seng Tech Index advanced as much as 2.3% and surpassed the previous high reached in September when the central government and the PBOC announced a raft of stimulus measures.
The current market euphoria is driven by the success of the open-access chatbot DeepSeek, which could make artificial intelligence tools more affordable.
Leading tech Chinese companies are expected to include their artificial intelligence-driven tools in their services, which could spark another cycle of earnings growth.
However, the tech enthusiasm in Hong Kong was not shared in trading in mainland China, as investors worried about tariff headwinds and lack of progress in implementing the previously announced stimulus measures.
China Indexes and Stocks
The Hang Seng index jumped 1.7% to 22,233.01, and the CSI 300 index decreased 0.3% to 3,908.72.
Alibaba Group jumped 1.4% to HK $115.40, Tencent Holdings advanced 1.6% to HK $458.80, JD.com Inc jumped 1.2% to HK $156.40, and SMIC advanced 0.3% to HK $48.10.
DeepSeek Driven Rally Lifts Hong Kong Tech Index to Five-Month High
Li Chen
13 Feb, 2025
Hong Kong
Stock market indexes in Hong Kong extended gains amid continued demand for tech stocks.
The Hang Seng index advanced nearly 2%, but the mainland-focused CSI 300 index declined a fraction.
The Hang Seng Tech Index advanced as much as 2.3% and surpassed the previous high reached in September when the central government and the PBOC announced a raft of stimulus measures.
The current market euphoria is driven by the success of the open-access chatbot DeepSeek, which could make artificial intelligence tools more affordable.
Leading tech Chinese companies are expected to include their artificial intelligence-driven tools in their services, which could spark another cycle of earnings growth.
However, the tech enthusiasm in Hong Kong was not shared in trading in mainland China, as investors worried about tariff headwinds and lack of progress in implementing the previously announced stimulus measures.
China Indexes and Stocks
The Hang Seng index jumped 1.7% to 22,233.01, and the CSI 300 index decreased 0.3% to 3,908.72.
Alibaba Group jumped 1.4% to HK $115.40, Tencent Holdings advanced 1.6% to HK $458.80, JD.com Inc jumped 1.2% to HK $156.40, and SMIC advanced 0.3% to HK $48.10.
India Movers: Ashok Leyland, Bharat Forge, Diamines and Chemicals, Gopal Snacks, HAL, Morepen, Natco Pharma
Arun Goswami
13 Feb, 2025
Mumbai
Consumer price inflation eased for the third consecutive month in January, driven by a slowdown in food price inflation.
Benchmark indexes rebounded after falling in six previous consecutive sessions after rate cut hopes overshadowed disappointing fiscal third quarter earnings.
The Sensex index advanced by 0.5% to 76,589.39, and the Nifty index increased by 0.6% to 23,183.60.
On the Mumbai stock exchange, 37 stocks traded at their 52-week highs, and 146 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 86.83 against the U.S. dollar.
Stock Movers
Morepen Laboratories Ltd. rose 1.7% to ₹56.86 after the pharmaceutical and biotechnology company reported a slight increase in revenue and a 36% decline in profit in the December quarter.
Consolidated revenue increased to ₹404.1 crore from ₹398.3 crore, after-tax profit fell to ₹22.6 crore from ₹35.2 crore, and diluted earnings per share decreased to 41 paisa from 69 paisa a year ago.
Gopal Snacks Ltd. advanced 0.7% to ₹56.86 after the company reported a 7% rise in revenue and a decline in net income in the December quarter.
Consolidated revenue increased to ₹394.3 crore from ₹368.7 crore, net income fell to ₹5.3 crore from ₹17.8 crore, and diluted earnings per share dropped to 43 paisa from ₹1.44 a year ago.
Diamines and Chemicals Ltd. increased 0.4% to ₹386.70, and the organic chemical compound’s maker reported a sharp decline in quarterly revenue and earnings.
Consolidated revenue decreased to ₹18.3 crore from ₹23.6 crore, after-tax profit fell to ₹0.8 crore from ₹2.9 crore, and diluted earnings per share dropped to 77 paisa from ₹3.01 a year ago.
Natco Pharma Ltd. dropped 17.2% to ₹1,007.40, and the pharmaceutical company reported a 38% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹651.1 crore from ₹795.6 crore, net income dropped to ₹132.4 crore from ₹212.7 crore, and diluted earnings per share fell to ₹7.43 from ₹11.88 a year ago.
Ashok Leyland Ltd. advanced 0.4% to ₹220.40, and the automobile maker reported a 31% increase in net income in the December quarter.
Consolidated revenue increased to ₹9,503.2 crore from ₹9,303 crore, after-tax profit rose to ₹761.7 crore from ₹580 crore, and diluted earnings per share advanced to ₹2.59 from ₹1.97 a year ago.
Bharat Forge Ltd. decreased 3% to ₹1,071.90 after the company reported an 11% drop in revenue in the December quarter.
Consolidated revenue declined to ₹3,513.9 crore from ₹3,922.3 crore, net income fell to ₹212.7 crore from ₹254.4 crore, and diluted earnings per share decreased to ₹4.54 from ₹5.68 a year ago.
Repco Home Finance fell 3% to ₹361.70 despite the housing loan finance company reporting a rise in revenue and net income in the December quarter.
Consolidated revenue increased to ₹445.3 crore from ₹393.20 crore, after-tax profit rose to ₹106.5 crore from ₹99.4 crore, and diluted earnings per share advanced to ₹18.09 from ₹16.62 a year ago.
Hindustan Aeronautics Ltd. jumped 2.6% to ₹3,690.75 after the aerospace and defense company reported a 14% jump in consolidated profit from a year ago.
Consolidated revenue increased to ₹7,588.7 crore from ₹6,521.3 crore, net income advanced to ₹1,439.8 crore from ₹1,261.5 crore, and diluted earnings per share rose to ₹21.53 from ₹18.86 a year ago.
India Movers: Ashok Leyland, Bharat Forge, Diamines and Chemicals, Gopal Snacks, HAL, Morepen, Natco Pharma
Arun Goswami
13 Feb, 2025
Mumbai
Consumer price inflation eased for the third consecutive month in January, driven by a slowdown in food price inflation.
Benchmark indexes rebounded after falling in six previous consecutive sessions after rate cut hopes overshadowed disappointing fiscal third quarter earnings.
The Sensex index advanced by 0.5% to 76,589.39, and the Nifty index increased by 0.6% to 23,183.60.
On the Mumbai stock exchange, 37 stocks traded at their 52-week highs, and 146 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 86.83 against the U.S. dollar.
Stock Movers
Morepen Laboratories Ltd. rose 1.7% to ₹56.86 after the pharmaceutical and biotechnology company reported a slight increase in revenue and a 36% decline in profit in the December quarter.
Consolidated revenue increased to ₹404.1 crore from ₹398.3 crore, after-tax profit fell to ₹22.6 crore from ₹35.2 crore, and diluted earnings per share decreased to 41 paisa from 69 paisa a year ago.
Gopal Snacks Ltd. advanced 0.7% to ₹56.86 after the company reported a 7% rise in revenue and a decline in net income in the December quarter.
Consolidated revenue increased to ₹394.3 crore from ₹368.7 crore, net income fell to ₹5.3 crore from ₹17.8 crore, and diluted earnings per share dropped to 43 paisa from ₹1.44 a year ago.
Diamines and Chemicals Ltd. increased 0.4% to ₹386.70, and the organic chemical compound’s maker reported a sharp decline in quarterly revenue and earnings.
Consolidated revenue decreased to ₹18.3 crore from ₹23.6 crore, after-tax profit fell to ₹0.8 crore from ₹2.9 crore, and diluted earnings per share dropped to 77 paisa from ₹3.01 a year ago.
Natco Pharma Ltd. dropped 17.2% to ₹1,007.40, and the pharmaceutical company reported a 38% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹651.1 crore from ₹795.6 crore, net income dropped to ₹132.4 crore from ₹212.7 crore, and diluted earnings per share fell to ₹7.43 from ₹11.88 a year ago.
Ashok Leyland Ltd. advanced 0.4% to ₹220.40, and the automobile maker reported a 31% increase in net income in the December quarter.
Consolidated revenue increased to ₹9,503.2 crore from ₹9,303 crore, after-tax profit rose to ₹761.7 crore from ₹580 crore, and diluted earnings per share advanced to ₹2.59 from ₹1.97 a year ago.
Bharat Forge Ltd. decreased 3% to ₹1,071.90 after the company reported an 11% drop in revenue in the December quarter.
Consolidated revenue declined to ₹3,513.9 crore from ₹3,922.3 crore, net income fell to ₹212.7 crore from ₹254.4 crore, and diluted earnings per share decreased to ₹4.54 from ₹5.68 a year ago.
Repco Home Finance fell 3% to ₹361.70 despite the housing loan finance company reporting a rise in revenue and net income in the December quarter.
Consolidated revenue increased to ₹445.3 crore from ₹393.20 crore, after-tax profit rose to ₹106.5 crore from ₹99.4 crore, and diluted earnings per share advanced to ₹18.09 from ₹16.62 a year ago.
Hindustan Aeronautics Ltd. jumped 2.6% to ₹3,690.75 after the aerospace and defense company reported a 14% jump in consolidated profit from a year ago.
Consolidated revenue increased to ₹7,588.7 crore from ₹6,521.3 crore, net income advanced to ₹1,439.8 crore from ₹1,261.5 crore, and diluted earnings per share rose to ₹21.53 from ₹18.86 a year ago.
January's Consumer Price Inflation Supports Fed's Resolve to Delay Rate Cuts
Brian Turner
12 Feb, 2025
Washington, D.C.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Investors are awaiting the release of producer price inflation later in the week.
On Wednesday, Federal Reserve Chairman Jerome Powell, in answering a question from a member of the House Financial Services Committee, said a better measure of inflation would be the PCE Price Index than the CPI, which takes into account consumer behavior.
On Tuesday, Fed Chair Powell confirmed while appearing in front of the Senate Banking Committee that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
January's Consumer Price Inflation Supports Fed's Resolve to Delay Rate Cuts
Brian Turner
12 Feb, 2025
Washington, D.C.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Investors are awaiting the release of producer price inflation later in the week.
On Wednesday, Federal Reserve Chairman Jerome Powell, in answering a question from a member of the House Financial Services Committee, said a better measure of inflation would be the PCE Price Index than the CPI, which takes into account consumer behavior.
On Tuesday, Fed Chair Powell confirmed while appearing in front of the Senate Banking Committee that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
U.S. and Global Financial Markets Stay Near Record Highs Despite Accelerating Inflation
Alexander Garcia
12 Feb, 2025
New York City
Benchmark indexes struggled to advance on Wall Street after hotter-than-expected inflation raised prospects of the Fed delaying its rate cut in the near future.
The S&P 500 index decreased 0.3%, and the Nasdaq Composite declined 0.1% after consumer price inflation was hotter than expected.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%, confirming that inflationary forces are far from tamed.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower but elevated annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Rising prices of fuel, food, and used vehicles make it less likely that the Fed will lower rates anytime soon.
Investors are awaiting the release of producer price inflation later in the week.
On Wednesday, Federal Reserve Chairman Jerome Powell, in answering a question from a member of the House Financial Services Committee, said a better measure of inflation would be the PCE Price Index than the CPI, which takes into account consumer behavior.
On Tuesday, Fed Chair Powell confirmed while appearing in front of the Senate Banking Committee that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.3% to 6,052.17, the Nasdaq Composite edged down 0.1% to 19,642.47, and the Russell 2000 index was down 1.1% to 2,250.32.
The yield on 2-year Treasury notes edged higher to 4.37%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds advanced to 4.85%.
WTI crude oil decreased $1.12 to $72.18 a barrel, and natural gas prices edged higher by $0.04 to $3.56 a thermal unit.
Gold decreased by $8.96 to 2,890.23 an ounce, and silver edged up by $0.15 to $31.98.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.43 to 108.35 and traded at a two-year high.
U.S. Stock Movers
CVS Health Corp. jumped 9.2% to $60.10 after the pharmacy chain operator's fourth quarter results surpassed market expectations.
Super Micro Computer jumped 9.2% to $42.16 after the custom server builder said that the company is on track to file its delayed annual report by February 25.
The company lowered its annual revenue estimate range to between $23.5 billion and $25 billion.
Upstart Holdings Inc. soared 20% to $81.10 after the consumer lending platform operator reported better-than-expected results in the fourth quarter.
The company guided revenue in the first quarter to exceed $200 million, surpassing expectations of $195 million set by some analysts.
Marriott International declined 1% to $285.45 after the company reported weaker-than-expected earnings per share in the latest quarter.
European Markets Hovered Near Record Highs; Heineken, Siemens Energy In Focus
Stock market indexes in Europe advanced, and investors reacted to the latest earnings results.
Benchmark indexes in Frankfurt and London hovered at new record highs, and indexes in Paris and Milan edged higher in active trading.
Investors retained positive bias despite the region's weak macroeconomic outlook as corporate results continue to show improvements.
However, investors worried that the ongoing slowdown in China's economy and the widening tariff war launched by the U.S. could negatively impact corporate results in 2025.
For now, investors bid up stocks in the hopes that the European Central Bank will deliver additional rate cuts and Chinese leadership will implement previously announced fiscal stimulus measures to revive the property market and economic growth.
Closer to home, the largest economy in the eurozone, Germany, is struggling to expand its exports amid growing competition from China and tariff headwinds in the U.S.
Germany's gross domestic product is likely to register less than a 0.5% increase in 2025, as consumers battle with high prices, stagnant wages, and elevated interest rates.
Europe Indexes and Yields
The DAX index increased by 0.34% to 22,112.72, the CAC-40 index edged higher 0.23% to 8,047.42, and the FTSE 100 index advanced by 0.07% to 8,783.89.
The yield on 10-year German bonds inched higher to 2.44%, French bonds increased to 3.16%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.53%.
The euro increased to $1.04; the British pound was lower at $1.24; and the U.S. dollar was lower and traded at 91.04 Swiss cents.
Brent crude decreased $0.78 to $76.21 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
ABN AMRO Bank NV gained 6% to €17.50 after the Dutch lender's fourth quarter profit surpassed market expectations.
Banco BPM SpA increased 0.6% to €8.97 after the Italian lender posted strong fourth quarter results and lifted its targeted profit and payout ratio to investors.
Kering SA advanced 4% to €258.10 and extended its two-day gain to over 10% after the Paris-based luxury fashion group reported better-than-expected financial results.
Heineken NV jumped 12.2% to €76.46 after the Dutch brewing company reported a 7.3% increase in net income and announced a two-year stock repurchase plan.
The alcoholic beverage company said net profit advanced 7.3% to €2.7 billion, driven by a 1.6% increase in beer sales volume.
The company said it plans to repurchase its own stock worth €1.5 billion over the next two years.
Siemens Energy advanced 1.3% to €58.0 after the wind turbine and gas and power equipment maker reported a decline in net profit in the fiscal first half, but the order book swelled to €131 billion.
TeamViewer SE jumped 5.3% to €12.47 after the remote access and support software company said profit in the fourth quarter increased because of an increase in revenue and subscribers.
Baratt Redrow jumped 4.8% to 458.30 pence after the UK-based home builder estimated annual earnings closer to the upper end of the market estimate.
Revenue in the fiscal first half ending in December rose 23% to £2.3 billion from £1.9 billion, net profit before tax increased 23% to £117.2 million from £95.2 million, and basic earnings per share decreased 18.3% to 5.8 pence from 7.1 pence a year ago.
The residential construction company completed 6,846 homes, 10.9% higher than 6,171 homes in the corresponding period a year ago.
The home builder launched a £50 million stock repurchase plan starting in February and ending no later than June 30.
Japan Indexes Edged Higher, Machine Tool Orders Advanced
Investors bid up stocks in Tokyo trading following positive earnings from leading corporations.
The Nikkei 225 increased 0.5%, and the broader TOPIX edged up a fraction after investors returned from a holiday.
Market sentiment was positive after Fujikura and SoftBank reported financial results.
The yen weakened to 153.75 against the U.S. dollar after Bank of Japan Governor Kazuo Ueda did not clarify the future rate path in a presentation to lawmakers.
Investors remained cautious amid rising trade tensions with the U.S., and Trade Minister Yoji Muto formally requested exemption from the latest 25% tariffs on steel and aluminum products scheduled to go into effect on March 4.
On the economic front, machine tool orders increased 4.7% to 116.2 billion yen in January, slowing from an 11.2% increase in December.
Orders advanced for the fourth consecutive month, as foreign orders increased 4.7% to 84.2 billion yen and domestic orders gained 4.5% to 31.99 billion yen.
The monthly data were released by the Japan Machine Tool Builders' Association on Wednesday.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.5% to 38,963.70, and the broader TOPIX advanced a fraction to 2,733.33.
Fujikura Ltd soared 10.4% to ¥7,366.0 after the electric equipment company reported strong financial results for the nine-month period ending in December.
Revenue increased 18.7% to 711 billion yen, ordinary profit soared 85.8% to 95.8 billion yen, and diluted earnings per share rose to 214.20 yen from 129.79 yen a year ago.
For the third quarter, sales increased 27% to 267.5 billion yen, and net income advanced to 30.4 billion yen from 10.6 billion yen a year ago.
The company raised its full-year revenue forecast to 940 billion yen from 880 billion yen and net income to 74 billion yen compared to 62 billion yen estimated earlier, respectively.
SoftBank advanced 3.8% to ¥9,856.0 after the company released its nine-month financial results.
Revenue in the nine-month period ending in December increased 6% to 5.3 trillion yen, net income swung to a profit of 1.05 trillion yen from a loss of 119.7 billion yen, and diluted earnings per share advanced to an income of 425.30 yen compared to a loss of 328.78 yen a year ago.
The results included investment gains of 2.2 trillion yen compared to a loss of 538.9 billion yen in the previous year's period.
Hong Kong Index Trades at One-Month High After China Investors Increase Exposure
Stock market indexes in China and Hong Kong extended gains, and investors piled into leading technology companies.
The Hang Seng index jumped nearly 2%, and the CSI 300 index advanced a fraction as mainland China investors increased their leading tech companies trading in Hong Kong.
Alibaba Group, Tencent Holdings, Xiaomi Corp., and SMIC led the gainers in Hong Kong for the second week in a row amid persistent buying by mainland investors.
Mainland institutional investors increased exposure to tech stocks trading in Hong Kong in the hopes that the affordable access to artificial intelligence will improve earnings growth in the near term.
Individual investors increased their exposure to stocks denominated in Hong Kong dollars amid worries of yuan devaluation.
Mainland-China-based funds purchased a total of HK $1.38 billion worth of stocks on Stock Connect through February 11, according to the latest data available from exchanges.
China-based funds invested a total of HK $807.9 billion in 2024 in Hong Kong stock, a record high since the launch of the cross-border investing link in 2014.
Wall Street indexes wavered around the flatline after Fed Chair Powell confirmed that inflation is slowing but remains above the long-term target rate.
Market participants were cautiously optimistic after Chairman Powell confirmed that the U.S. economy is on solid footing and the labor market remains strong, and the central bank is in no hurry to lower rates in the near future.
However, on Wall Street, benchmark indexes struggled to advance amid growing fears of a wider trade war sparked by the chaotic Trump administration and fears of resurgent inflation.
Higher interest rates in the U.S. will keep rates higher in Hong Kong because of the currency's linked status with the U.S. dollar, which could negatively impact the housing market.
China Indexes and Stocks
The Hang Seng index jumped 1.9% to 21,697.58, and the mainland-focused CSI 300 Index advanced 0.2% to 3,890.54.
Alibaba Group Holding surged 7.4% to HK $112.60, Tencent Holdings Ltd. advanced 2.7% to HK $438.80, SMIC gained 4.5% to HK $47.30, and Xiaomi Corp. added 3.3% to HK $43.95.
Guming Holdings was nearly unchanged after the bubble tea maker listed its stock on the Hong Kong Exchange.
Guming traded at HK $9.32 after the company sold 182 million shares priced at HK $9.94 per share and raised HK $1.72 billion or $220 million.
The company operates 9,778 premium-tea stores in smaller cities in China.
CATL Co. Ltd. increased 1.8% to ¥255.30 after the battery maker for electric vehicle filed to list its stock on the Hong Kong Exchange.
U.S. and Global Financial Markets Stay Near Record Highs Despite Accelerating Inflation
Alexander Garcia
12 Feb, 2025
New York City
Benchmark indexes struggled to advance on Wall Street after hotter-than-expected inflation raised prospects of the Fed delaying its rate cut in the near future.
The S&P 500 index decreased 0.3%, and the Nasdaq Composite declined 0.1% after consumer price inflation was hotter than expected.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%, confirming that inflationary forces are far from tamed.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Rising prices of fuel, food, and used vehicles make it less likely that the Fed will lower rates anytime soon.
Investors are awaiting the release of producer price inflation later in the week.
On Wednesday, Federal Reserve Chairman Jerome Powell, in answering a question from a member of the House Financial Services Committee, said a better measure of inflation would be the PCE Price Index than the CPI, which takes into account consumer behavior.
On Tuesday, Fed Chair Powell confirmed while appearing in front of the Senate Banking Committee that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.3% to 6,052.17, the Nasdaq Composite edged down 0.1% to 19,642.47, and the Russell 2000 index was down 1.1% to 2,250.32.
The yield on 2-year Treasury notes edged higher to 4.37%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds advanced to 4.85%.
WTI crude oil decreased $1.12 to $72.18 a barrel, and natural gas prices edged higher by $0.04 to $3.56 a thermal unit.
Gold decreased by $8.96 to 2,890.23 an ounce, and silver edged up by $0.15 to $31.98.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.43 to 108.35 and traded at a two-year high.
U.S. Stock Movers
CVS Health Corp. jumped 9.2% to $60.10 after the pharmacy chain operator's fourth quarter results surpassed market expectations.
Super Micro Computer jumped 9.2% to $42.16 after the custom server builder said that the company is on track to file its delayed annual report by February 25.
The company lowered its annual revenue estimate range to between $23.5 billion and $25 billion.
Upstart Holdings Inc. soared 20% to $81.10 after the consumer lending platform operator reported better-than-expected results in the fourth quarter.
The company guided revenue in the first quarter to exceed $200 million, surpassing expectations of $195 million set by some analysts.
Marriott International declined 1% to $285.45 after the company reported weaker-than-expected earnings per share in the latest quarter.
European Markets Hovered Near Record Highs; Heineken, Siemens Energy In Focus
Stock market indexes in Europe advanced, and investors reacted to the latest earnings results.
Benchmark indexes in Frankfurt and London hovered at new record highs, and indexes in Paris and Milan edged higher in active trading.
Investors retained positive bias despite the region's weak macroeconomic outlook as corporate results continue to show improvements.
However, investors worried that the ongoing slowdown in China's economy and the widening tariff war launched by the U.S. could negatively impact corporate results in 2025.
For now, investors bid up stocks in the hopes that the European Central Bank will deliver additional rate cuts and Chinese leadership will implement previously announced fiscal stimulus measures to revive the property market and economic growth.
Closer to home, the largest economy in the eurozone, Germany, is struggling to expand its exports amid growing competition from China and tariff headwinds in the U.S.
Germany's gross domestic product is likely to register less than a 0.5% increase in 2025, as consumers battle with high prices, stagnant wages, and elevated interest rates.
Europe Indexes and Yields
The DAX index increased by 0.34% to 22,112.72, the CAC-40 index edged higher 0.23% to 8,047.42, and the FTSE 100 index advanced by 0.07% to 8,783.89.
The yield on 10-year German bonds inched higher to 2.44%, French bonds increased to 3.16%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.53%.
The euro increased to $1.04; the British pound was lower at $1.24; and the U.S. dollar was lower and traded at 91.04 Swiss cents.
Brent crude decreased $0.78 to $76.21 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
ABN AMRO Bank NV gained 6% to €17.50 after the Dutch lender's fourth quarter profit surpassed market expectations.
Banco BPM SpA increased 0.6% to €8.97 after the Italian lender posted strong fourth quarter results and lifted its targeted profit and payout ratio to investors.
Kering SA advanced 4% to €258.10 and extended its two-day gain to over 10% after the Paris-based luxury fashion group reported better-than-expected financial results.
Heineken NV jumped 12.2% to €76.46 after the Dutch brewing company reported a 7.3% increase in net income and announced a two-year stock repurchase plan.
The alcoholic beverage company said net profit advanced 7.3% to €2.7 billion, driven by a 1.6% increase in beer sales volume.
The company said it plans to repurchase its own stock worth €1.5 billion over the next two years.
Siemens Energy advanced 1.3% to €58.0 after the wind turbine and gas and power equipment maker reported a decline in net profit in the fiscal first half, but the order book swelled to €131 billion.
TeamViewer SE jumped 5.3% to €12.47 after the remote access and support software company said profit in the fourth quarter increased because of an increase in revenue and subscribers.
Baratt Redrow jumped 4.8% to 458.30 pence after the UK-based home builder estimated annual earnings closer to the upper end of the market estimate.
Revenue in the fiscal first half ending in December rose 23% to £2.3 billion from £1.9 billion, net profit before tax increased 23% to £117.2 million from £95.2 million, and basic earnings per share decreased 18.3% to 5.8 pence from 7.1 pence a year ago.
The residential construction company completed 6,846 homes, 10.9% higher than 6,171 homes in the corresponding period a year ago.
The home builder launched a £50 million stock repurchase plan starting in February and ending no later than June 30.
Japan Indexes Edged Higher, Machine Tool Orders Advanced
Investors bid up stocks in Tokyo trading following positive earnings from leading corporations.
The Nikkei 225 increased 0.5%, and the broader TOPIX edged up a fraction after investors returned from a holiday.
Market sentiment was positive after Fujikura and SoftBank reported financial results.
The yen weakened to 153.75 against the U.S. dollar after Bank of Japan Governor Kazuo Ueda did not clarify the future rate path in a presentation to lawmakers.
Investors remained cautious amid rising trade tensions with the U.S., and Trade Minister Yoji Muto formally requested exemption from the latest 25% tariffs on steel and aluminum products scheduled to go into effect on March 4.
On the economic front, machine tool orders increased 4.7% to 116.2 billion yen in January, slowing from an 11.2% increase in December.
Orders advanced for the fourth consecutive month, as foreign orders increased 4.7% to 84.2 billion yen and domestic orders gained 4.5% to 31.99 billion yen.
The monthly data were released by the Japan Machine Tool Builders' Association on Wednesday.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.5% to 38,963.70, and the broader TOPIX advanced a fraction to 2,733.33.
Fujikura Ltd soared 10.4% to ¥7,366.0 after the electric equipment company reported strong financial results for the nine-month period ending in December.
Revenue increased 18.7% to 711 billion yen, ordinary profit soared 85.8% to 95.8 billion yen, and diluted earnings per share rose to 214.20 yen from 129.79 yen a year ago.
For the third quarter, sales increased 27% to 267.5 billion yen, and net income advanced to 30.4 billion yen from 10.6 billion yen a year ago.
The company raised its full-year revenue forecast to 940 billion yen from 880 billion yen and net income to 74 billion yen compared to 62 billion yen estimated earlier, respectively.
SoftBank advanced 3.8% to ¥9,856.0 after the company released its nine-month financial results.
Revenue in the nine-month period ending in December increased 6% to 5.3 trillion yen, net income swung to a profit of 1.05 trillion yen from a loss of 119.7 billion yen, and diluted earnings per share advanced to an income of 425.30 yen compared to a loss of 328.78 yen a year ago.
The results included investment gains of 2.2 trillion yen compared to a loss of 538.9 billion yen in the previous year's period.
Hong Kong Index Trades at One-Month High After China Investors Increase Exposure
Stock market indexes in China and Hong Kong extended gains, and investors piled into leading technology companies.
The Hang Seng index jumped nearly 2%, and the CSI 300 index advanced a fraction as mainland China investors increased their leading tech companies trading in Hong Kong.
Alibaba Group, Tencent Holdings, Xiaomi Corp., and SMIC led the gainers in Hong Kong for the second week in a row amid persistent buying by mainland investors.
Mainland institutional investors increased exposure to tech stocks trading in Hong Kong in the hopes that the affordable access to artificial intelligence will improve earnings growth in the near term.
Individual investors increased their exposure to stocks denominated in Hong Kong dollars amid worries of yuan devaluation.
Mainland-China-based funds purchased a total of HK $1.38 billion worth of stocks on Stock Connect through February 11, according to the latest data available from exchanges.
China-based funds invested a total of HK $807.9 billion in 2024 in Hong Kong stock, a record high since the launch of the cross-border investing link in 2014.
Wall Street indexes wavered around the flatline after Fed Chair Powell confirmed that inflation is slowing but remains above the long-term target rate.
Market participants were cautiously optimistic after Chairman Powell confirmed that the U.S. economy is on solid footing and the labor market remains strong, and the central bank is in no hurry to lower rates in the near future.
However, on Wall Street, benchmark indexes struggled to advance amid growing fears of a wider trade war sparked by the chaotic Trump administration and fears of resurgent inflation.
Higher interest rates in the U.S. will keep rates higher in Hong Kong because of the currency's linked status with the U.S. dollar, which could negatively impact the housing market.
China Indexes and Stocks
The Hang Seng index jumped 1.9% to 21,697.58, and the mainland-focused CSI 300 Index advanced 0.2% to 3,890.54.
Alibaba Group Holding surged 7.4% to HK $112.60, Tencent Holdings Ltd. advanced 2.7% to HK $438.80, SMIC gained 4.5% to HK $47.30, and Xiaomi Corp. added 3.3% to HK $43.95.
Guming Holdings was nearly unchanged after the bubble tea maker listed its stock on the Hong Kong Exchange.
Guming traded at HK $9.32 after the company sold 182 million shares priced at HK $9.94 per share and raised HK $1.72 billion or $220 million.
The company operates 9,778 premium-tea stores in smaller cities in China.
CATL Co. Ltd. increased 1.8% to ¥255.30 after the battery maker for electric vehicle filed to list its stock on the Hong Kong Exchange.
S&P 500 and Nasdaq Turn Lower After Consumer Price Inflation Accelerated in January
Barry Adams
12 Feb, 2025
New York City
Stock market indexes extended losses for the second consecutive session after investors reviewed the latest update on consumer price inflation.
The S&P 500 index decreased 0.5%, and the Nasdaq Composite declined 0.7% after consumer price inflation was hotter than expected.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Investors are awaiting the release of producer price inflation later in the week.
Federal Reserve Chairman Jerome Powell is set to deliver his comments to the House Committee on Financial Services, following his appearance before the Senate Banking Committee on Tuesday.
On Tuesday, Fed Chair Powell confirmed that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.6% to 6,028.01, the Nasdaq Composite edged down 0.8% to 19,546.01, and the Russell 2000 index was down 1.47% to 2,242.26.
The yield on 2-year Treasury notes edged higher to 4.37%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds advanced to 4.85%.
WTI crude oil decreased $1.12 to $72.18 a barrel, and natural gas prices edged higher by $0.04 to $3.56 a thermal unit.
Gold decreased by $8.96 to 2,890.23 an ounce, and silver edged up by $0.15 to $31.98.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.43 to 108.35 and traded at a two-year high.
U.S. Stock Movers
CVS Health Corp. jumped 9.2% to $60.10 after the pharmacy chain operator's fourth quarter results surpassed market expectations.
Super Micro Computer jumped 9.2% to $42.16 after the custom server builder said that the company is on track to file its delayed annual report by February 25.
The company lowered its annual revenue estimate range to between $23.5 billion and $25 billion.
Upstart Holdings Inc. soared 20% to $81.10 after the consumer lending platform operator reported better-than-expected results in the fourth quarter.
The company guided revenue in the first quarter to exceed $200 million, surpassing expectations of $195 million set by some analysts.
Marriott International declined 1% to $285.45 after the company reported weaker-than-expected earnings per share in the latest quarter.
S&P 500 and Nasdaq Turn Lower After Consumer Price Inflation Accelerated in January
Barry Adams
12 Feb, 2025
New York City
Stock market indexes extended losses for the second consecutive session after investors reviewed the latest update on consumer price inflation.
The S&P 500 index decreased 0.5%, and the Nasdaq Composite declined 0.7% after consumer price inflation was hotter than expected.
Consumer price inflation accelerated to an annual pace of 3.0% in January from 2.9% in December, the U.S. Bureau of Labor Statistics reported Wednesday.
On a monthly basis, January's consumer price index advanced 0.5%.
Core inflation, which excludes food and energy prices, increased 0.4% from the previous month and advanced at an annual pace of 3.3%.
Consumer price inflation is largely driven by the sustained increase in shelter costs, which accounted for 30% of the increase, and advanced at a slower annual pace of 4.4% from 4.6% in the previous month.
Moreover, fuel prices rose at an annual pace of 1%, compared to a decline of 0.5% in December, and rose for the first time in six months.
Investors are awaiting the release of producer price inflation later in the week.
Federal Reserve Chairman Jerome Powell is set to deliver his comments to the House Committee on Financial Services, following his appearance before the Senate Banking Committee on Tuesday.
On Tuesday, Fed Chair Powell confirmed that the U.S. economy is on solid footing and labor market conditions are favorable and strong, and the central bank is in no hurry to increase rates in the near future.
U.S. Stock Movers
CVS Health Corp. jumped 9.2% to $60.10 after the pharmacy chain operator's fourth quarter results surpassed market expectations.
Super Micro Computer jumped 9.2% to $42.16 after the custom server builder said that the company is on track to file its delayed annual report by February 25.
The company lowered its annual revenue estimate range to between $23.5 billion and $25 billion.
Upstart Holdings Inc. soared 20% to $81.10 after the consumer lending platform operator reported better-than-expected results in the fourth quarter.
The company guided revenue in the first quarter to exceed $200 million, surpassing expectations of $195 million set by some analysts.
Marriott International declined 1% to $285.45 after the company reported weaker-than-expected earnings per share in the latest quarter.
U.S. Movers: DoorDash, Marriott, S&P Global, Shopify, Zillow
Scott Peters
12 Feb, 2025
New York City
DoorDash Inc. gained 5.7% to $204.11 after the online food delivery platform operator reported steady revenue growth in the fourth quarter ending in December.
Revenue jumped to $2.87 billion from $2.30 billion, net income swung to a profit of $141 million from a loss of $154 million, and earnings per diluted share rose to 34 cents from a loss of 39 cents a year ago.
Total orders increased 19% to $685 million from $574 million a year earlier.
DoorDash repurchased 2.1 million shares of its class A common stock for $224 million, under its $1.1 billion program, and in February 2025, the company’s board authorized the repurchase of up to $5.0 billion of the class A common stock.
For the first quarter of 2025, the company estimated adjusted EBITDA between $550 million and $600 million, compared to $371 million in the same quarter last year.
For fiscal 2025, the company estimated stock-based compensation expense between $1.1 billion and $1.2 billion and depreciation and amortization expense between $580 million and $600 million.
S&P Global Inc. surged 4.9% to $540.51 after the provider of financial information and analytics reported strong revenue growth in the fourth quarter ending in December.
Revenue increased 14% to $3.59 billion from $3.15 billion, net income jumped 50% to $967 million from $644 million, and earnings per diluted share rose 56% to $2.85 from $1.83 a year ago.
For fiscal 2025, the company estimated revenue growth between 5% and 7%, compared to $14.21 billion in 2024, and earnings per diluted share between $14.20 and $14.45, compared to $12.35 last year.
Shopify Inc. eased 0.1% to $123.45 after the Canada-based e-commerce company posted a 31% revenue growth in the fourth quarter ending in December.
Revenue increased to $2.81 billion from $2.14 billion, non-GAAP net income jumped to $1.29 billion from $657 million, and non-GAAP earnings per diluted share rose to 44 cents from 34 cents a year ago.
For fiscal 2025, the company estimated revenue growth at a mid-20% rate, compared to $8.88 billion in 2024, operating expense as a percentage of revenue between 41% and 42%, and stock-based compensation of $120 million.
Gross profit is expected to increase at a low-20% point from $4.47 billion a year ago, and compared to $3.51 billion in 2023.
Marriott International Inc. gained 0.04% to $288.12 after the worldwide hotel operator reported revenue growth in the fourth quarter ending in December, but profit declined.
Revenue increased 5% to $6.43 billion from $6.09 billion, net income dropped 46% to $455 million from $848 million, and earnings per diluted share fell 43% to $1.63 from $2.87 a year ago.
Growth in the U.S. and Canada was 4.1%, and international markets expanded by 7.2% from a year ago.
At the end of the year, Marriott's worldwide development pipeline totaled nearly 3,800 properties and over 577,000 rooms.
The company returned over $4.4 billion to shareholders through dividends and share repurchases in 2024.
For the first quarter of 2025, Marriott estimated adjusted earnings per diluted share between $2.20 and $2.26, compared to $1.93 in the same quarter last year.
Zillow Group Inc. dropped 6.3% to $80.90 despite the tech real estate marketplace company reporting better-than-expected results in the fourth quarter ending in December.
Revenue increased 17% to $554 million from $474 million, net loss shrank to $52 million from a loss of $73 million, and loss per diluted share shrank to 22 cents from 32 cents a year ago.
Fourth-quarter adjusted EBITDA was $112 million, or 20% of revenue, driven primarily by higher-than-expected residential sales and steady rental revenue.
For the first quarter of 2025, the company estimated revenue between $575 million and $590 million, compared to $529 million in the same quarter last year.
U.S. Movers: DoorDash, Marriott, S&P Global, Shopify, Zillow
Scott Peters
12 Feb, 2025
New York City
DoorDash Inc. gained 5.7% to $204.11 after the online food delivery platform operator reported steady revenue growth in the fourth quarter ending in December.
Revenue jumped to $2.87 billion from $2.30 billion, net income swung to a profit of $141 million from a loss of $154 million, and earnings per diluted share rose to 34 cents from a loss of 39 cents a year ago.
Total orders increased 19% to $685 million from $574 million a year earlier.
DoorDash repurchased 2.1 million shares of its class A common stock for $224 million, under its $1.1 billion program, and in February 2025, the company’s board authorized the repurchase of up to $5.0 billion of the class A common stock.
For the first quarter of 2025, the company estimated adjusted EBITDA between $550 million and $600 million, compared to $371 million in the same quarter last year.
For fiscal 2025, the company estimated stock-based compensation expense between $1.1 billion and $1.2 billion and depreciation and amortization expense between $580 million and $600 million.
S&P Global Inc. surged 4.9% to $540.51 after the provider of financial information and analytics reported strong revenue growth in the fourth quarter ending in December.
Revenue increased 14% to $3.59 billion from $3.15 billion, net income jumped 50% to $967 million from $644 million, and earnings per diluted share rose 56% to $2.85 from $1.83 a year ago.
For fiscal 2025, the company estimated revenue growth between 5% and 7%, compared to $14.21 billion in 2024, and earnings per diluted share between $14.20 and $14.45, compared to $12.35 last year.
Shopify Inc. eased 0.1% to $123.45 after the Canadian e-commerce company posted a 31% revenue growth in the fourth quarter ending in December.
Revenue increased to $2.81 billion from $2.14 billion, non-GAAP net income jumped to $1.29 billion from $657 million, and non-GAAP earnings per diluted share rose to 44 cents from 34 cents a year ago.
For fiscal 2025, the company estimated revenue growth at a mid-20% rate, compared to $8.88 billion in 2024, operating expense as a percentage of revenue between 41% and 42%, and stock-based compensation of $120 million.
Gross profit is expected to increase at a low 20-point rate from a year ago.
Marriott International Inc. gained 0.04% to $288.12 after the worldwide hotel operator reported revenue growth in the fourth quarter ending in December, but profit declined.
Revenue increased 5% to $6.43 billion from $6.09 billion, net income dropped 46% to $455 million from $848 million, and earnings per diluted share fell 43% to $1.63 from $2.87 a year ago.
Growth in the U.S. and Canada was 4.1%, and international markets expanded by 7.2% from a year ago.
At the end of the year, Marriott's worldwide development pipeline totaled nearly 3,800 properties and over 577,000 rooms.
The company returned over $4.4 billion to shareholders through dividends and share repurchases in 2024.
For the first quarter of 2025, Marriott estimated adjusted earnings per diluted share between $2.20 and $2.26, compared to $1.93 in the same quarter last year.
Zillow Group Inc. dropped 6.3% to $80.90 despite the tech real estate marketplace company reporting better-than-expected results in the fourth quarter ending in December.
Revenue increased 17% to $554 million from $474 million, net loss shrank to $52 million from a loss of $73 million, and loss per diluted share rose to 27 cents from 20 cents a year ago.
Fourth-quarter adjusted EBITDA was $112 million, or 20% of revenue, driven primarily by higher-than-expected residential sales and steady rental revenue.
For the first quarter of 2025, the company estimated revenue between $575 million and $590 million, compared to $529 million in the same quarter last year.