Market Update
Stock Movers: Burlington Stores, Marvell Technology, Victoria's Secret
Scott Peters
01 Sep, 2025
New York City
Burlington Stores Inc. traded flat at $290.68 after the off-price department store retailer reported a 28% increase in net income in the fiscal second quarter ending on August 2.
Consolidated revenue increased to $2.7 billion from $2.46 billion, net income jumped to $94.2 million from $73.8 million, and diluted earnings per share rose to $1.47 from $1.15 a year ago.
During the fiscal second quarter, Burlington returned a total of $26 million to shareholders through the repurchase of 102,474 shares of its common stock.
As of the end of the fiscal second quarter, the company had $632 million remaining under its share repurchase program authorizations.
The company guided third-quarter net sales to increase between 5% and 7%, comparable store sales to rise between zero and 2%, an effective tax rate expected to be 25%, and adjusted diluted earnings per share between $1.50 and $1.60.
The company guided full-year net sales to increase between 7% and 8%, comparable store sales to rise between 1% and 2%, an effective tax rate expected to be 25%, and adjusted diluted earnings per share between $9.19 and $9.59.
“Comparable store sales increased 5%, which was on top of 5% comparable store sales growth in the second quarter of last year," said CEO Michael O’Sullivan.
O'Sullivan added adjusted EBIT margin increased 120 basis points, while adjusted EPS grew 39% versus the second quarter of last year, driven by "higher merchandise margin, lower freight expense, and leverage on SG&A expenses.”
Marvell Technology Inc. gained 0.2% to $63 after the semiconductor provider's net income swung to a profit from a year ago in the fiscal second quarter ending on August 2.
Consolidated revenue advanced 58% to $2 billion from $1.27 billion, net income swung to a profit of $194.8 million from a loss of $193.3 million, and diluted earnings per share rose to an income of 22 cents from a loss of 22 cents a year ago.
Marvell guided third-quarter revenue to be $2.06 billion and diluted earnings per share to be $2.03 with a band of 5 cents, with adjusted diluted earnings per share between 74 cents with a band of 5 cents.
"Marvell's growth is being fueled by strong AI demand for our custom silicon and electro-optics products, as well as a significant increase in the pace of recovery in our enterprise networking and carrier infrastructure end markets.
Our custom AI design activity is at an all-time high, with the Marvell team now engaged in over 50 new opportunities across more than 10 customers," said Matt Murphy, Marvell's Chairman and CEO.
Victoria's Secret & Co. fell 0.4% to $22.94 after the women's innerwear retailer reported a 49% decrease in profit in the fiscal second quarter ending on August 2.
Consolidated revenue edged higher to $1.46 billion from $1.42 billion, net income declined to $16.22 million from $31.80 million, and diluted earnings per share dropped to 20 cents from 40 cents a year ago.
The company guided third-quarter revenue to be between $1.39 billion and $1.42 billion, adjusted operating loss between $35 million and $55 million, and adjusted net loss earnings per share between 55 cents and 75 cents.
The specialty retailer guided full-year revenue to be between $6.33 billion and $6.41 billion, adjusted operating income between $270 million and $320 million.
The company estimated a net tariff impact of approximately $100 million on its annual earnings.
Japan May Slow Pace of Trade Negotiations After U.S. Court Ruling, Capital Spending Growth Accelerated In Second Quarter
Akira Ito
01 Sep, 2025
New York City
Japan's indexes turned sharply lower on Monday, reflecting Friday's weakness on Wall Street.
The Nikkei 225 Stock Average decreased 1.4%, and the broader Topix fell 0.5%, and the weakness in technology stocks dominated the market sell-off.
The U.S. Court of Appeals for the Federal Circuit ruled that the Trump administration's tariffs are illegal and do not comply with the spirit of the law.
The import duty imposed by the U.S. president was first ruled illegal by the Court of International Trade in Manhattan, and the case is likely to land soon in the U.S. Supreme Court.
"Once again, a court has ruled that the president cannot invent a fake economic emergency to justify billions of dollars in tariffs," New York Attorney General Letitia James said in a statement.
"These tariffs are a tax on Americans—they raise costs for working families and businesses throughout our country, causing more inflation and job losses," James noted in the statement.
However, the court allowed the tariffs to stay in place until October 14, allowing the Trump administration to seek the final verdict from the U.S. Supreme Court.
The latest court ruling gave additional breathing room to trade negotiators in Japan, India, and China, and Japan is likely to slow its pace of negotiations while there is greater legal clarity.
On the domestic economic front, Japanese companies accelerated capital spending in the second quarter by 7.6%, from 6.4% in the first quarter, the Ministry of Finance said in a release on Monday.
The robust spending on plant and equipment was broad-based, with investment in the manufacturing sector soaring 16.4% and in the non-manufacturing sector increasing at a modest pace of 3%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.4% to 42,127.12, and the broader Topix declined 0.5% to 3,059.66.
Artificial intelligence-related stock led the downturn in Monday's trading.
Tokyo Electron decreased 1.8% to ¥20,285.0, Advantest Corp. declined 7.7% to €61.60, and Disco Corp. fell 7.7% to ¥38,160.0.
Nippon Yusen KK advanced 0.5% to ¥5,357.0, Mitsui O.S.K. Lines eased 0.5% to ¥4,728.0, and Kawasaki Kisen Kaisha Ltd. inched higher 0.1%.
Japan May Slow Trade Negotiations Pace After U.S. Court Ruling, Capital Spending Growth Accelerated In Second Quarter
Akira Ito
01 Sep, 2025
New York City
Japan's indexes turned sharply lower on Monday, reflecting Friday's weakness on Wall Street.
The Nikkei 225 Stock Average decreased 1.4%, and the broader Topix fell 0.5%, and the weakness in technology stocks dominated the market sell-off.
The U.S. Court of Appeals for the Federal Circuit ruled that the Trump administration's tariffs are illegal and do not comply with the spirit of the law.
The import duty imposed by the U.S. president was first ruled illegal by the Court of International Trade in Manhattan, and the case is likely to land soon in the U.S. Supreme Court.
"Once again, a court has ruled that the president cannot invent a fake economic emergency to justify billions of dollars in tariffs," New York Attorney General Letitia James said in a statement.
"These tariffs are a tax on Americans—they raise costs for working families and businesses throughout our country, causing more inflation and job losses," James noted in the statement.
However, the court allowed the tariffs to stay in place until October 14, allowing the Trump administration to seek the final verdict from the U.S. Supreme Court.
The latest court ruling gave additional breathing room to trade negotiators in Japan, India, and China, and Japan is likely to slow its pace of negotiations while there is greater legal clarity.
On the domestic economic front, Japanese companies accelerated capital spending in the second quarter by 7.6%, from 6.4% in the first quarter, the Ministry of Finance said in a release on Monday.
The robust spending on plants, property, and equipment was broad-based, with investment in the manufacturing sector soaring 16.4% and in the non-manufacturing sector increasing at a modest pace of 3%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.4% to 42,127.12, and the broader Topix declined 0.5% to 3,059.66.
Artificial intelligence-related stock led the downturn in Monday's trading.
Tokyo Electron decreased 1.8% to ¥20,285.0, Advantest Corp. declined 7.7% to €61.60, and Disco Corp. fell 7.7% to ¥38,160.0.
Nippon Yusen KK advanced 0.5% to ¥5,357.0, Mitsui O.S.K. Lines eased 0.5% to ¥4,728.0, and Kawasaki Kisen Kaisha Ltd. inched higher 0.1%.
Hang Seng Index Soared 2%, Reflecting Enthusiasm In Mainland Markets
Li Chen
01 Sep, 2025
Hong Kong
Stock market indexes in Hong Kong soared as investors played catch-up tracking last week's gains in the mainland.
The Hang Seng index increased 1.8%, and the mainland-focused CSI 300 index decreased 0.1%, amid sustained buying by the state-controlled enterprises on mainland bourses.
Interim results dominated market sentiment, and Alibaba Group soared 15%, and BOC Hong Kong advanced 7%.
On the economic front, the official survey of the manufacturing sector activities showed a slight increase in August.
The General Manufacturing PMI increased to 49.4 from 49.3 in July, the National Bureau of Statistics reported on Sunday.
The private sector business activities in the manufacturing sector are facing headwinds from the erratic U.S. trade policy and softer domestic demand.
The separate survey released by S&P Global showed an increase in business activities.
The RatingDog China General Manufacturing PMI edged up to 50.5 in August from 49.5 in July, amid sustained foreign demand and a rebound in domestic orders.
The private survey of business activities has a larger sample size of smaller businesses and companies engaged in export activities.
China Indexes and Stocks
The Hang Seng Index gained 1.8% to 25,523.13, and the mainland-focused CSI 300 index decreased 0.1% to 4,491.46.
Alibaba Group Holding Ltd. soared 17% to HK$135.60 after the company's earnings surpassed market expectations.
Alibaba Health Information Technology increased 6.2% to HK$5.80, following the parent company Alibaba Group's results.
BOC Hong Kong Holdings Ltd. increased 6% to HK$37.34 after net income in the first half increased 11% from a year ago.
China Minsheng Banking decreased 0.9% to HK$37.34, despite the bank reporting stronger interim results.
Operating income increased 7.8% to 70.7 billion yuan from 65.6 billion yuan, net profit attributable to shareholders decreased 4.8% to 21.4 billion yuan from 22.4 billion yuan, and diluted earnings per share rose to 0.45 yuan from 0.43 yuan a year ago.
The annualized net interest rate margin edged higher to 1.39% from 1.38%, and the Tier-1 capital adequacy ratio improved to 13.25% from 12.89% a year ago.
Hang Seng Index Soared 2%, Reflecting Enthusiasm In Mainland Markets
Li Chen
01 Sep, 2025
Hong Kong
Stock market indexes in Hong Kong soared as investors played catch-up tracking last week's gains in the mainland.
The Hang Seng index increased 1.8%, and the mainland-focused CSI 300 index decreased 0.1%, amid sustained buying by the state-controlled enterprises on mainland bourses.
Interim results dominated market sentiment, and Alibaba Group soared 15%, and BOC Hong Kong advanced 7%.
On the economic front, the official survey of the manufacturing sector activities showed a slight increase in August.
The General Manufacturing PMI increased to 49.4 from 49.3 in July, the National Bureau of Statistics reported on Sunday.
The private sector business activities in the manufacturing sector are facing headwinds from the erratic U.S. trade policy and softer domestic demand.
The separate survey released by S&P Global showed an increase in business activities.
The RatingDog China General Manufacturing PMI edged up to 50.5 in August from 49.5 in July, amid sustained foreign demand and a rebound in domestic orders.
The private survey of business activities has a larger sample size of smaller businesses and companies engaged in export activities.
China Indexes and Stocks
The Hang Seng Index gained 1.8% to 25,523.13, and the mainland-focused CSI 300 index decreased 0.1% to 4,491.46.
Alibaba Group Holding Ltd. soared 17% to HK$135.60 after the company's earnings surpassed market expectations.
Alibaba Health Information Technology increased 6.2% to HK$5.80, following the parent company Alibaba Group's results.
BOC Hong Kong Holdings Ltd. increased 6% to HK$37.34 after net income in the first half increased 11% from a year ago.
China Minsheng Banking decreased 0.9% to HK$37.34, despite the bank reporting stronger interim results.
Operating income increased 7.8% to 70.7 billion yuan from 65.6 billion yuan, net profit attributable to shareholders decreased 4.8% to 21.4 billion yuan from 22.4 billion yuan, and diluted earnings per share rose to 0.45 yuan from 0.43 yuan a year ago.
The annualized net interest rate margin edged higher to 1.39% from 1.38%, and the Tier-1 capital adequacy ratio improved to 13.25% from 12.89% a year ago.
Wall Street Indexes Extended Rally to Fourth Consecutive Month, Stubborn Inflation Data
Barry Adams
29 Aug, 2025
New York City
Wall Street indexes turned lower on Friday as investors booked profit ahead of the three-day weekend.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.6% as investors reviewed earnings updates from leading tech and industrial companies.
U.S. indexes retreated after the latest economic report confirmed stubborn inflationary forces and a widening goods trade deficit.
Inflation Stayed Elevated In July
The personal consumption expenditure price index advanced 0.2% on the month and 2.6% on the year in July.
The core PCE price index inched up 0.3% on the month and advanced 2.9% on the year, confirming underlying elevated inflationary pressure.
The PCE price index, the preferred measure of inflation by the policymakers, generally understates inflation because it includes consumers' behavior to substitute cheaper products.
U.S. Goods Deficit Expanded In July
The U.S. goods trade deficit widened by $18.7 billion from the previous month to $103.6 billion, according to the latest data released by the U.S. Census Bureau.
On an annual basis, the goods trade deficit was nearly unchanged.
Goods exports decreased 0.1% from the previous month to $178 billion but rose from $173 billion a year ago.
Goods imports soared 7.1% from the previous month to $281.5 billion, as businesses front-loaded inventories ahead of new U.S. tariffs.
Goods imports in the year-ago period totaled $277 billion.
U.S. Stock Movers
Alibaba Group Holding Ltd. jumped 6.4% to $119.57, and the China-based e-commerce company reported mixed quarterly results.
Total revenue rose 2% to 247.7 billion yuan, and net income attributable to shareholders surged 78% to 43.1 billion yuan ($6 billion) from 24.3 billion yuan a year ago.
The earnings growth was driven by mark-to-market changes from equity investment and gains from the disposal of the local consumer service business of Trendyol.
Cloud computing unit growth accelerated to 26% to 33.4 billion yuan, from an increase of 18% in the March quarter.
The company's domestic online business expanded sales by 10% from a year ago to 140 billion yuan.
Autodesk Inc. soared 11% to $323.0 after the software company delivered better-than-expected earnings in the second quarter.
The design software company reported revenue of $1.76 billion and net income of $2.62 per share.
Caterpillar Inc. declined 2.4% to $424.49, and the farm and construction equipment company said tariff-driven charges could range between $1.5 billion and $1.8 billion in the current fiscal year.
Revenue in the second quarter edged down to $16.6 billion from $16.7 billion, net income fell to $2.2 billion from $2.7 billion, and diluted earnings per share fell to $4.62 from $5.48 a year ago, respectively.
Dell Technologies dropped 9.8% to $121.04 after the company's earnings outlook fell short of investor expectations.
Consolidated revenue in the fiscal second quarter increased 19% to $29.78 billion from $25 billion, net income jumped 32% to $1.16 billion from $882 million, and diluted earnings per share rose 38% to $1.70 from $1.23 a year ago.
Dell Technologies returned $1.3 billion to shareholders in the quarter through share repurchases and dividends.
Dell guided fiscal third-quarter revenue to be between $26.5 billion and $27.5 billion, with diluted earnings per share expected to be $2.07 and adjusted diluted earnings per share to be $2.45 at the midpoint, respectively.