Market Update
Hong Kong IPOs Find Favor Among Foreign Investors
Li Chen
28 Oct, 2025
Hong Kong
China's indexes rested near recent levels, and investors prepared for a flood of earnings releases.
The Hang Seng Index decreased 0.2%, and the mainland-focused CSI 300 index eased 0.3% as investors awaited the release of quarterly results from banks.
China's foreign direct investment continued its downward trend, despite a recent rebound amid heightened geopolitical tensions and US-China trade uncertainty.
The leaders of the U.S. and China are set to meet on the sidelines of the APEC meeting, and investors anticipate that the meeting is likely to lower trade tensions between the two nations.
Over the last decade, China has successfully expanded its exports to the ASEAN region, the European Union, Africa, and South America and reduced its reliance on the U.S. markets.
Moreover, China's advances in renewable energy products, household appliances, and AI-driven electronic devices and robots have helped Chinese companies to open new markets.
The Trump administration's chaotic trade policy has driven China to seek agricultural products from Peru, Argentina, and Brazil, bypassing wheat, soybean and corn farmers in the U.S.
China Indexes and Stocks
The Hang Seng Index dropped 0.2% to 26,395.67, and the mainland-focused CSI 300 index fell 0.3% to 4,701.82.
HSBC Holding plc decreased 0.2% to HK 1,002.20, and the UK-based bank reported a sharp decline in earnings in the third quarter.
Net income in the third quarter decreased 25% from a year ago to US$ 4.5 billion, or 28 cents per share.
The company booked US$1.1 billion in charges related to Bernie Madoff's Ponzi scheme.
Four companies debuted trading on the Hong Kong Stock Exchange, the busiest day in three months, as companies raced to complete public offerings.
Bama Tea soared nearly 85% to HK $84.55, and the tea leaf products priced their initial public offering at HK $50.0 per share.
The largest tea company in China, by revenue, sold 9 million shares and raised HK$389.9 million in net proceeds.
Deepexi Technology Co. Ltd. soared more than 123% to HK $61.90, and the AI-solution provider priced its initial offering at HK $26.66 per share.
The company sold 26.6 million shares and raised net proceeds of HK $609.8 million.
CIG Shanghai Co. Ltd. rose 45% to HK $97.50, and the telecom equipment maker priced its offering at HK $68.88 per share.
The optical and wireless connectivity device maker sold 67 million shares and raised net proceeds of HK $4.48 billion.
Sany Heavy Industry advanced 3% to HK $21.90, and the equipment maker priced its offering at HK $21.30 per share.
The world's third-largest construction machinery company sold 631.6 million shares and raised net proceeds of HK $13.3 billion.
China's Industrial Profits and FDI Highlight Diverging Trends In September
Li Chen
27 Oct, 2025
Hong Kong
China's markets advanced on Monday, and investors reviewed the latest batch of economic updates.
The Hang Seng Index rose 1%, and the mainland-focused CSI 300 index advanced 1.1% as investors hoped a potential US-China trade deal could ease tensions.
Foreign direct investment in China decreased 10.4% to 573.5 billion yuan, or $80.9 billion, in the first nine months of 2025 amid global uncertainty.
The service sector attracted 410.9 billion yuan, and the manufacturing sector drew 150.1 billion yuan, amid a 155% surge in investments in the e-commerce sector.
Overall, high-tech industries attracted a total of 170.8 billion yuan in the period, the Ministry of Commerce said in its monthly update.
Regionally, investments increased by 55.5% from Japan, 48.7% from the UAE, 21% from the UK, and 19.7% from Switzerland.
Foreign direct investment in September alone rose 11.2% from a year ago, as US-China trade tensions eased.
China's industrial profit increased 3.2% to 5.4 trillion yuan in the first nine months of 2025, the National Bureau of Statistics reported on Monday.
Industrial profit accelerated from an increase of 0.9% in the previous period, as US-China tensions eased and private sector activities rebounded.
Industrial profit soared 21.6% from a year ago, faster than the 20.4% annual rate in August, the statistical agency reported.
The manufacturing sector's earnings rose 9.9% in the nine-month period to September, offsetting the 51.1% decrease in coal mining and a 13.3% fall in natural gas, 5.9% in textiles, and a 4.4% decrease in chemicals.
China Indexes and Stocks
The Hang Seng Index increased 1% to 26,404.51, and the mainland-focused CSI 300 index edged 1.1% to 4,709.92.
E-commerce and advanced semiconductor-related stocks led gainers in Hong Kong.
Alibaba Group Holding increased 3% to HK $173.50, Tencent Holdings Ltd. advanced 2.4% to HK $653.0, and Meituan jumped 1.7% to HK $102.30.
Nongfu Spring Water rose 0.2% to HK $54.05, Pop Mart International Group gained 1.3% to HK $233.40, and ANTA Sports Products decreased 0.5% to HK $87.90.
China's Industrial Profits and FDI Highlight Diverging Trends In September
Li Chen
27 Oct, 2025
Hong Kong
China's markets advanced on Monday, and investors reviewed the latest batch of economic updates.
The Hang Seng Index rose 1%, and the mainland-focused CSI 300 index advanced 1.1% as investors hoped a potential US-China trade deal could ease tensions.
Foreign direct investment in China decreased 10.4% to 573.5 billion yuan, or $80.9 billion, in the first nine months of 2025 amid global uncertainty.
The service sector attracted 410.9 billion yuan, and the manufacturing sector drew 150.1 billion yuan, amid a 155% surge in investments in the e-commerce sector.
Overall, high-tech industries attracted a total of 170.8 billion yuan in the period, the Ministry of Commerce said in its monthly update.
Regionally, investments increased by 55.5% from Japan, 48.7% from the UAE, 21% from the UK, and 19.7% from Switzerland.
Foreign direct investment in September alone rose 11.2% from a year ago, as US-China trade tensions eased.
China's industrial profit increased 3.2% to 5.4 trillion yuan in the first nine months of 2025, the National Bureau of Statistics reported on Monday.
Industrial profit accelerated from an increase of 0.9% in the previous period, as US-China tensions eased and private sector activities rebounded.
Industrial profit soared 21.6% from a year ago, faster than the 20.4% annual rate in August, the statistical agency reported.
The manufacturing sector's earnings rose 9.9% in the nine-month period to September, offsetting the 51.1% decrease in coal mining and a 13.3% fall in natural gas, 5.9% in textiles, and a 4.4% decrease in chemicals.
China Indexes and Stocks
The Hang Seng Index increased 1% to 26,404.51, and the mainland-focused CSI 300 index edged 1.1% to 4,709.92.
E-commerce and advanced semiconductor-related stocks led gainers in Hong Kong.
Alibaba Group Holding increased 3% to HK $173.50, Tencent Holdings Ltd. advanced 2.4% to HK $653.0, and Meituan jumped 1.7% to HK $102.30.
Nongfu Spring Water rose 0.2% to HK $54.05, Pop Mart International Group gained 1.3% to HK $233.40, and ANTA Sports Products decreased 0.5% to HK $87.90.
U.S. Movers: Coca-Cola, Netflix, Western Alliance
Scott Peters
22 Oct, 2025
New York City
Netflix Inc. dropped 7% to $1,154.23 after the streaming services provider reported mixed third-quarter results.
Revenue in the period increased to $11.5 billion from $9.8 billion, net income advanced to $2.5 billion from $2.4 billion, and diluted earnings per share rose to $5.87 from $5.40 a year ago.
The streaming service provider attributed weaker-than-estimated earnings to the ongoing $619 million tax expense with the Brazilian tax department.
Western Alliance Bancorp rose 2.4% to $78.06 after the regional bank reported better-than-expected third-quarter earnings.
Net revenue increased 10.9% to $938.2 million, net income advanced 9.5% to $260.5 million from $237.8 million, and diluted earnings per share rose 10.1% to $2.28 from $2.07 a year ago.
Coca-Cola Company jumped 4% to $71.22, and the beverage company reported better-than-expected revenue and earnings in the third quarter.
The resilient demand for zero-sugar beverages and Fairlife, ultra-filtered milk, in the U.S. supported the 1% increase in global unit sales, while the price rose 6% from a year ago.
Revenue in the period increased 5% to $12.5 billion from $11.8 billion, net income advanced to $3.8 billion from $2.9 billion, and diluted earnings per share rose to 86 cents from 66 cents a year ago.
The company reiterated adjusted revenue growth between 5% and 6%, and comparable adjusted earnings per share to increase 3% to $2.88.
The Atlanta-based beverage company is set to launch the U.S. launch of the 7.5-ounce single-serve sugarcane drink this fall, priced at less than $2 in convenience stores.
U.S. Movers: Coca-Cola, Netflix, Western Alliance
Scott Peters
22 Oct, 2025
New York City
Netflix Inc. dropped 7% to $1,154.23 after the streaming services provider reported mixed third-quarter results.
Revenue in the period increased to $11.5 billion from $9.8 billion, net income advanced to $2.5 billion from $2.4 billion, and diluted earnings per share rose to $5.87 from $5.40 a year ago.
The streaming service provider attributed weaker-than-estimated earnings to the ongoing $619 million tax expense with the Brazilian tax department.
Western Alliance Bancorp rose 2.4% to $78.06 after the regional bank reported better-than-expected third-quarter earnings.
Net revenue increased 10.9% to $938.2 million, net income advanced 9.5% to $260.5 million from $237.8 million, and diluted earnings per share rose 10.1% to $2.28 from $2.07 a year ago.
Coca-Cola Company jumped 4% to $71.22, and the beverage company reported better-than-expected revenue and earnings in the third quarter.
The resilient demand for zero-sugar beverages and Fairlife, ultra-filtered milk, in the U.S. supported the 1% increase in global unit sales, while the price rose 6% from a year ago.
Revenue in the period increased 5% to $12.5 billion from $11.8 billion, net income advanced to $3.8 billion from $2.9 billion, and diluted earnings per share rose to 86 cents from 66 cents a year ago.
The company reiterated adjusted revenue growth between 5% and 6%, and comparable adjusted earnings per share to increase 3% to $2.88.
The Atlanta-based beverage company is set to launch the U.S. launch of the 7.5-ounce single-serve sugarcane drink this fall, priced at less than $2 in convenience stores.
U.S. Movers: Alphabet, Ford Motor, Intel, Target
Scott Peters
24 Oct, 2025
New York City
Intel Corp. jumped 7.4% to $41.15, and the advanced semiconductor company's third-quarter results surpassed market expectations.
Revenue increased 3% to $13.7 billion, net income swung to a profit of $4.4 billion from a loss of $16.1 billion, and diluted earnings per share were 90 cents of profit compared to a loss of $3.88 a year ago.
In the quarter, Intel received $5.7 billion from the U.S. government, and the Trump administration has committed a total of $8.9 billion in funding.
In addition, NVIDIA agreed to invest $5 billion in Intel common stock, and Japan-based SoftBank Group acquired $2 billion of the company's stock.
Intel guided fourth-quarter revenue between $12.8 billion and $13.8 billion and a diluted loss per share of 14 cents.
Alphabet Inc. Class C increased 1.3% to $256.93 after the company announced a multi-billion dollar cloud partnership with AI services provider Anthropic.
Anthropic has attracted $3 billion in investment from Google's parent, and Amazon.com has invested about $8 billion and provided its Trainium 2 chips for its custom-built supercomputer for Claude Code, the company's agentic coding assistant.
Target Corp. increased 0.6% to $256.93, and the discount retailer said it plans to cut about 8% of its corporate workforce, or 1,800 positions.
The news was first reported by CNBC, and the financial news provider cited an internal memo sent by the incoming CEO, Michael Fiddleke, to corporate employees.
Ford Motor Company jumped 4.4% to $12.89, and the vehicle maker's third-quarter results surpassed market expectations.
Revenue increased 9% to $50.5 billion from $46.2 billion, net income surged to $2.4 billion from $0.9 billion, and diluted earnings per share advanced to 60 cents from 22 cents a year ago.
Ford said it absorbed $700 million of tariff-related expenses, and adjusted free cash flow was $4.3 billion.
The company declared a cash dividend of 15 cents per share, payable on December 1 to shareholders on record on November 7.
The company lowered its 2025 adjusted EBIT outlook to between $6.0 billion and $6.5 billion, reflecting $1.0 billion in net tariff-related expenses and an additional headwind of up to $1.0 billion related to a fire at the Oswego, New York-based aluminum supplier, Novelis.
"We are working intensively with Novelis and others to source aluminum that can be processed in the cold rolling section of the plant that remains operational while also working to restore overall plant production," said Ford's president and CEO Jim Farley.
"We have made substantial progress in a short time to minimize the impact in 2025 and recover production in 2026," added Farley.
U.S. Movers: Alphabet, Ford Motor, Intel, Target
Scott Peters
24 Oct, 2025
New York City
Intel Corp. jumped 7.4% to $41.15, and the advanced semiconductor company's third-quarter results surpassed market expectations.
Revenue increased 3% to $13.7 billion, net income swung to a profit of $4.4 billion from a loss of $16.1 billion, and diluted earnings per share were 90 cents of profit compared to a loss of $3.88 a year ago.
In the quarter, Intel received $5.7 billion from the U.S. government, and the Trump administration has committed a total of $8.9 billion in funding.
In addition, NVIDIA agreed to invest $5 billion in Intel common stock, and Japan-based SoftBank Group acquired $2 billion of the company's stock.
Intel guided fourth-quarter revenue between $12.8 billion and $13.8 billion and a diluted loss per share of 14 cents.
Alphabet Inc. Class C increased 1.3% to $256.93 after the company announced a multi-billion dollar cloud partnership with AI services provider Anthropic.
Anthropic has attracted $3 billion in investment from Google's parent, and Amazon.com has invested about $8 billion and provided its Trainium 2 chips for its custom-built supercomputer for Claude Code, the company's agentic coding assistant.
Target Corp. increased 0.6% to $256.93, and the discount retailer said it plans to cut about 8% of its corporate workforce, or 1,800 positions.
The news was first reported by CNBC, and the financial news provider cited an internal memo sent by the incoming CEO, Michael Fiddleke, to corporate employees.
Ford Motor Company jumped 4.4% to $12.89, and the vehicle maker's third-quarter results surpassed market expectations.
Revenue increased 9% to $50.5 billion from $46.2 billion, net income surged to $2.4 billion from $0.9 billion, and diluted earnings per share advanced to 60 cents from 22 cents a year ago.
Ford said it absorbed $700 million of tariff-related expenses, and adjusted free cash flow was $4.3 billion.
The company declared a cash dividend of 15 cents per share, payable on December 1 to shareholders on record on November 7.
The company lowered its 2025 adjusted EBIT outlook to between $6.0 billion and $6.5 billion, reflecting $1.0 billion in net tariff-related expenses and an additional headwind of up to $1.0 billion related to a fire at the Oswego, New York-based aluminum supplier, Novelis.
"We are working intensively with Novelis and others to source aluminum that can be processed in the cold rolling section of the plant that remains operational while also working to restore overall plant production," said Ford's president and CEO Jim Farley.
"We have made substantial progress in a short time to minimize the impact in 2025 and recover production in 2026," added Farley.
U.S. Movers: IBM, Southwest Airlines, Tesla
Scott Peters
23 Oct, 2025
New York City
Southwest Airlines Co. increased 1% to $34.11 after the company reported a surprise income in the third quarter.
Revenue increased 1% to $6.94 million from $6.87 million, net income dropped 19% to $54 million from $67 million, and diluted earnings per share decreased to 10 cents from 11 cents a year ago.
The airline guided available seat miles to increase by about 6% and revenue per available seat mile to rise between 1% and 3% in the fourth quarter, respectively.
The airline estimated its 2025 operating earnings to be between $600 million and $800 million, and the company reiterated its contribution to operating earnings from improvement initiatives of $1.8 billion.
Tesla Inc. decreased 3.3% to $424.55, and the electric vehicle maker reported mixed third-quarter results.
Revenue advanced 12% to $28 billion from $25.2 billion, net income dropped 37% to $1.4 billion from $2.2 billion, and diluted earnings per share dropped 37% to 39 cents from 67 cents.
Revenue in the automotive segment rose 6% to $21.2 billion, energy generation and storage soared 44%, and services and other revenues advanced 25% to $3.5 billion.
International Business Machines dropped 6.7% to $287.51 after the company released its third-quarter results.
Revenue increased 9% to $16.3 billion from $14.9 billion, net income swung to a profit of $1.7 billion from a loss of $330 million, and diluted earnings per share were $1.84 compared to a loss of 36 cents a year ago.
The company declared a cash dividend of $1.68 per share payable on December 10 to shareholders, recorded on November 10.
Stock faced selling pressure after revenue growth in the hybrid cloud unit, also known as Red Hat, slowed to 14% from 16% in the previous quarter.
The company raised its fiscal year revenue outlook to a growth of more than 5%, compared to the previous estimate of at least 5%.
U.S. Movers: IBM, Southwest Airlines, Tesla
Scott Peters
23 Oct, 2025
New York City
Southwest Airlines Co. increased 1% to $34.11 after the company reported a surprise income in the third quarter.
Revenue increased 1% to $6.94 million from $6.87 million, net income dropped 19% to $54 million from $67 million, and diluted earnings per share decreased to 10 cents from 11 cents a year ago.
The airline guided available seat miles to increase by about 6% and revenue per available seat mile to rise between 1% and 3% in the fourth quarter, respectively.
The airline estimated its 2025 operating earnings to be between $600 million and $800 million, and the company reiterated its contribution to operating earnings from improvement initiatives of $1.8 billion.
Tesla Inc. decreased 3.3% to $424.55, and the electric vehicle maker reported mixed third-quarter results.
Revenue advanced 12% to $28 billion from $25.2 billion, net income dropped 37% to $1.4 billion from $2.2 billion, and diluted earnings per share dropped 37% to 39 cents from 67 cents.
Revenue in the automotive segment rose 6% to $21.2 billion, energy generation and storage soared 44%, and services and other revenues advanced 25% to $3.5 billion.
International Business Machines dropped 6.7% to $287.51 after the company released its third-quarter results.
Revenue increased 9% to $16.3 billion from $14.9 billion, net income swung to a profit of $1.7 billion from a loss of $330 million, and diluted earnings per share were $1.84 compared to a loss of 36 cents a year ago.
The company declared a cash dividend of $1.68 per share payable on December 10 to shareholders, recorded on November 10.
Stock faced selling pressure after revenue growth in the hybrid cloud unit, also known as Red Hat, slowed to 14% from 16% in the previous quarter.
The company raised its fiscal year revenue outlook to a growth of more than 5%, compared to the previous estimate of at least 5%.
U.S. Stocks Advanced After Inflation Report Stoked Rate Cut Speculation
Barry Adams
24 Oct, 2025
San Francisco
Stocks on Wall Street powered ahead, and investors reviewed another batch of earnings releases.
The S&P 500 index increased 0.3%, and the Nasdaq Composite advanced 0.5% as traders reviewed the shutdown-delayed inflation data for September.
Stocks advanced after the release of the inflation report, as a slight easing in inflation stoked speculation that the Federal Reserve is more likely to cut rates at the end of October.
The consumer price index increased 3.0%, and the core rate of inflation eased to 3.0% from 3.1% from a year ago, respectively.
Consumer inflation accelerated from 2.9% in August and jumped to the highest since January.
On a monthly basis, overall inflation advanced 0.4% and core inflation rose 0.3%, according to the nine-day delayed report released by the U.S. Bureau of Labor Statistics.
The index for gasoline rose 4.1% in September and was the largest factor in the all-items monthly increase, as the index for energy rose 1.5% over the month.
The food index increased 0.2% over the month as the food at home index rose 0.3% and the food away from home index increased 0.1%.
Most U.S. government economic reports are suspended, because most workers at various government agencies, including the BLS, since the start of the month.
Trump administration's tariffs continued to put upward pressure on the price of imported goods, used cars and rucks, and food.
U.S. Stock Movers
Intel Corp. jumped 7.4% to $41.15, and the advanced semiconductor company's third-quarter results surpassed market expectations.
Revenue increased 3% to $13.7 billion, net income swung to a profit of $4.4 billion from a loss of $16.1 billion, and diluted earnings per share were 90 cents of profit compared to a loss of $3.88 a year ago.
In the quarter, Intel received $5.7 billion from the U.S. government, and the Trump administration has committed a total of $8.9 billion in funding.
In addition, NVIDIA agreed to invest $5 billion in Intel common stock, and Japan-based SoftBank Group acquired $2 billion of the company's stock.
Intel guided fourth-quarter revenue between $12.8 billion and $13.8 billion and a diluted loss per share of 14 cents.
Alphabet Inc. Class C increased 1.3% to $256.93 after the company announced a multi-billion dollar cloud partnership with AI services provider Anthropic.
Anthropic has attracted $3 billion in investment from Google's parent, and Amazon.com has invested about $8 billion and provided its Trainium 2 chips for its custom-built supercomputer for Claude Code, the company's agentic coding assistant.
Target Corp. increased 0.6% to $256.93, and the discount retailer said it plans to cut about 8% of its corporate workforce, or 1,800 positions.
The news was first reported by CNBC, and the financial news provider cited an internal memo sent by the incoming CEO, Michael Fiddleke, to corporate employees.
Ford Motor Company jumped 4.4% to $12.89, and the vehicle maker's third-quarter results surpassed market expectations.
Revenue increased 9% to $50.5 billion from $46.2 billion, net income surged to $2.4 billion from $0.9 billion, and diluted earnings per share advanced to 60 cents from 22 cents a year ago.
Ford said it absorbed $700 million of tariff-related expenses, and adjusted free cash flow was $4.3 billion.
The company declared a cash dividend of 15 cents per share, payable on December 1 to shareholders on record on November 7.
The company lowered its 2025 adjusted EBIT outlook to between $6.0 billion and $6.5 billion, reflecting $1.0 billion in net tariff-related expenses and an additional headwind of up to $1.0 billion related to a fire at the Oswego, New York-based aluminum supplier, Novelis.
"We are working intensively with Novelis and others to source aluminum that can be processed in the cold rolling section of the plant that remains operational while also working to restore overall plant production," said Ford's president and CEO Jim Farley.
"We have made substantial progress in a short time to minimize the impact in 2025 and recover production in 2026," added Farley.
U.S. Stocks Advanced After Inflation Report Stoked Rate Cut Speculation
Barry Adams
24 Oct, 2025
San Francisco
Stocks on Wall Street powered ahead, and investors reviewed another batch of earnings releases.
The S&P 500 index increased 0.3%, and the Nasdaq Composite advanced 0.5% as traders reviewed the shutdown-delayed inflation data for September.
Stocks advanced after the release of the inflation report, as a slight easing in inflation stoked speculation that the Federal Reserve is more likely to cut rates at the end of October.
The consumer price index increased 3.0%, and the core rate of inflation eased to 3.0% from 3.1% from a year ago, respectively.
Consumer inflation accelerated from 2.9% in August and jumped to the highest since January.
On a monthly basis, overall inflation advanced 0.4% and core inflation rose 0.3%.
The index for gasoline rose 4.1% in September and was the largest factor in the all-items monthly increase, as the index for energy rose 1.5% over the month.
The food index increased 0.2% over the month as the food at home index rose 0.3% and the food away from home index increased 0.1%.
U.S. Stock Movers
Intel Corp. jumped 7.4% to $41.15, and the advanced semiconductor company's third-quarter results surpassed market expectations.
Revenue increased 3% to $13.7 billion, net income swung to a profit of $4.4 billion from a loss of $16.1 billion, and diluted earnings per share were 90 cents of profit compared to a loss of $3.88 a year ago.
In the quarter, Intel received $5.7 billion from the U.S. government, and the Trump administration has committed a total of $8.9 billion in funding.
In addition, NVIDIA agreed to invest $5 billion in Intel common stock, and Japan-based SoftBank Group acquired $2 billion of the company's stock.
Intel guided fourth-quarter revenue between $12.8 billion and $13.8 billion and a diluted loss per share of 14 cents.
Alphabet Inc. Class C increased 1.3% to $256.93 after the company announced a multi-billion dollar cloud partnership with AI services provider Anthropic.
Anthropic has attracted $3 billion in investment from Google's parent, and Amazon.com has invested about $8 billion and provided its Trainium 2 chips for its custom-built supercomputer for Claude Code, the company's agentic coding assistant.
Target Corp. increased 0.6% to $256.93, and the discount retailer said it plans to cut about 8% of its corporate workforce, or 1,800 positions.
The news was first reported by CNBC, and the financial news provider cited an internal memo sent by the incoming CEO, Michael Fiddleke, to corporate employees.
Ford Motor Company jumped 4.4% to $12.89, and the vehicle maker's third-quarter results surpassed market expectations.
Revenue increased 9% to $50.5 billion from $46.2 billion, net income surged to $2.4 billion from $0.9 billion, and diluted earnings per share advanced to 60 cents from 22 cents a year ago.
Ford said it absorbed $700 million of tariff-related expenses, and adjusted free cash flow was $4.3 billion.
The company declared a cash dividend of 15 cents per share, payable on December 1 to shareholders on record on November 7.
The company lowered its 2025 adjusted EBIT outlook to between $6.0 billion and $6.5 billion, reflecting $1.0 billion in net tariff-related expenses and an additional headwind of up to $1.0 billion related to a fire at the Oswego, New York-based aluminum supplier, Novelis.
"We are working intensively with Novelis and others to source aluminum that can be processed in the cold rolling section of the plant that remains operational while also working to restore overall plant production," said Ford's president and CEO Jim Farley.
"We have made substantial progress in a short time to minimize the impact in 2025 and recover production in 2026," added Farley.
China Policymakers Prioritize Self Reliance Amid Growing Trade Tensions
Li Chen
24 Oct, 2025
Hong Kong
Stocks in China and Hong Kong traded higher, and top policymakers vowed to accelerate investment in the domestic economy.
The Hang Seng index increased by 0.5%, while the mainland-focused CSI 300 index edged up by 0.4%, extending their weekly gains to 0.9% and 1.7%, respectively.
Policymakers stressed the importance of accelerating domestic economic development, advancing the use of modern technologies, and keeping social stability.
The communique was released at the end of the fourth plenum of the 20th Central Committee of the Communist Party of China, held between October 20 and 23 in Beijing.
"We must maintain a reasonable proportion of manufacturing and build a modern industrial system with advanced manufacturing as its backbone.
We must optimize and upgrade traditional industries, cultivate and strengthen emerging and future industries, promote the high-quality and efficient development of the service industry, and build a modern infrastructure system," according to a statement released by committee members.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 26,122.10, and the mainland-focused CSI 300 index edged up 0.4% to 4,636.93.
Alibaba Group Holding increased 2.2% to HK $168.40, Tencent Holdings gained 0.6% to HK $635.0, Baidu Inc. advanced 1.2% to HK $117.90, and SMIC soared 6.3% to HK $78.70.
Li Ning Co. Ltd dropped 2% to HK $18.17, ANTA Sports Products inched up 0.2% to HK $88.30, and Nongfu Spring Co. Ltd increased 0.3% to HK $54.60.
Dynamic Electronics soared 380% to 83.52 yuan, and the company listed its stock on the Shanghai Stock Exchange.
The company sold 52.5 million shares and priced its offering at 17.08 yuan per share.
China Policymakers Prioritize Self Reliance Amid Growing Trade Tensions
Li Chen
24 Oct, 2025
Hong Kong
Stocks in China and Hong Kong traded higher, and top policymakers vowed to accelerate investment in the domestic economy.
The Hang Seng index increased by 0.5%, while the mainland-focused CSI 300 index edged up by 0.4%, extending their weekly gains to 0.9% and 1.7%, respectively.
Policymakers stressed the importance of accelerating domestic economic development, advancing the use of modern technologies, and keeping social stability.
The communique was released at the end of the fourth plenum of the 20th Central Committee of the Communist Party of China, held between October 20 and 23 in Beijing.
"We must maintain a reasonable proportion of manufacturing and build a modern industrial system with advanced manufacturing as its backbone.
We must optimize and upgrade traditional industries, cultivate and strengthen emerging and future industries, promote the high-quality and efficient development of the service industry, and build a modern infrastructure system," according to a statement released by committee members.
China Indexes and Stocks
The Hang Seng Index increased 0.5% to 26,122.10, and the mainland-focused CSI 300 index edged up 0.4% to 4,636.93.
Alibaba Group Holding increased 2.2% to HK $168.40, Tencent Holdings gained 0.6% to HK $635.0, Baidu Inc. advanced 1.2% to HK $117.90, and SMIC soared 6.3% to HK $78.70.
Li Ning Co. Ltd dropped 2% to HK $18.17, ANTA Sports Products inched up 0.2% to HK $88.30, and Nongfu Spring Co. Ltd increased 0.3% to HK $54.60.
Dynamic Electronics soared 380% to 83.52 yuan, and the company listed its stock on the Shanghai Stock Exchange.
The company sold 52.5 million shares and priced its offering at 17.08 yuan per share.
U.S. Stocks Rest After Mixed Batch of Earnings, Trump's Russia Sanctions Drive Oil Prices Higher
Barry Adams
23 Oct, 2025
New York City
U.S. stocks struggled to stay above the flatline, and investors reviewed the fresh batch of mixed earnings.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite eased 0.3% following sharp sell-offs in Tesla, IBM, and Lam Research.
So far large companies have delivered on earnings growth, and investors are hoping that the current record market valuations are still justified by the earnings level.
The sharp escalation in tariffs has not affected corporate earnings so far, and investors are looking for clues as to how businesses are adjusting to higher import costs, resurgent inflation, and falling margins.
Investors in China and Hong Kong have largely ignored the ongoing trade tensions with the U.S. as China's share of U.S. shipments continues to fall and has dropped to 25% of global exports.
Gold rebounded 0.7% to $4,130.22 per ounce, and silver edged up 1.5% to $49.24 an ounce from the brutal sell-off of 8% over the previous two days.
Crude oil soared 6.1% to $62.08 per barrel after the U.S. president announced new sanctions on two Russian oil companies, citing stalled Ukraine peace talks.
The U.S. announced severe financial and shipping sanctions on Russia's Lukoil and Rosneft while urging India and China to scale back purchases.
U.S. Stock Movers
Southwest Airlines Co. increased 1% to $34.11 after the company reported a surprise income in the third quarter.
Revenue increased 1% to $6.94 million from $6.87 million, net income dropped 19% to $54 million from $67 million, and diluted earnings per share decreased to 10 cents from 11 cents a year ago.
The airline guided available seat miles to increase by about 6% and revenue per available seat mile to rise between 1% and 3% in the fourth quarter, respectively.
The airline estimated its 2025 operating earnings to be between $600 million and $800 million, and the company reiterated its contribution to operating earnings from improvement initiatives of $1.8 billion.
Tesla Inc. decreased 3.3% to $424.55, and the electric vehicle maker reported mixed third-quarter results.
Revenue advanced 12% to $28 billion from $25.2 billion, net income dropped 37% to $1.4 billion from $2.2 billion, and diluted earnings per share dropped 37% to 39 cents from 67 cents.
Revenue in the automotive segment rose 6% to $21.2 billion, energy generation and storage soared 44%, and services and other revenues advanced 25% to $3.5 billion.
International Business Machines dropped 6.7% to $287.51 after the company released its third-quarter results.
Revenue increased 9% to $16.3 billion from $14.9 billion, net income swung to a profit of $1.7 billion from a loss of $330 million, and diluted earnings per share were $1.84 compared to a loss of 36 cents a year ago.
The company declared a cash dividend of $1.68 per share payable on December 10 to shareholders, recorded on November 10.
Stock faced selling pressure after revenue growth in the hybrid cloud unit, also known as Red Hat, slowed to 14% from 16% in the previous quarter.
The company raised its fiscal year revenue outlook to a growth of more than 5%, compared to the previous estimate of at least 5%.
U.S. Stocks Rest After Mixed Batch of Earnings, Trump's Russia Sanctions Drive Oil Prices Higher
Barry Adams
23 Oct, 2025
New York City
U.S. stocks struggled to stay above the flatline, and investors reviewed the fresh batch of mixed earnings.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite eased 0.3% following sharp sell-offs in Tesla, IBM, and Lam Research.
So far large companies have delivered on earnings growth, and investors are hoping that the current record market valuations are still justified by the earnings level.
The sharp escalation in tariffs has not affected corporate earnings so far, and investors are looking for clues as to how businesses are adjusting to higher import costs, resurgent inflation, and falling margins.
Investors in China and Hong Kong have largely ignored the ongoing trade tensions with the U.S. as China's share of U.S. shipments continues to fall and has dropped to 25% of global exports.
Gold rebounded 0.7% to $4,130.22 per ounce, and silver edged up 1.5% to $49.24 an ounce from the brutal sell-off of 8% over the previous two days.
Crude oil soared 6.1% to $62.08 per barrel after the U.S. president announced new sanctions on two Russian oil companies, citing stalled Ukraine peace talks.
The U.S. announced severe financial and shipping sanctions on Russia's Lukoil and Rosneft while urging India and China to scale back purchases.
U.S. Stock Movers
Southwest Airlines Co. increased 1% to $34.11 after the company reported a surprise income in the third quarter.
Revenue increased 1% to $6.94 million from $6.87 million, net income dropped 19% to $54 million from $67 million, and diluted earnings per share decreased to 10 cents from 11 cents a year ago.
The airline guided available seat miles to increase by about 6% and revenue per available seat mile to rise between 1% and 3% in the fourth quarter, respectively.
The airline estimated its 2025 operating earnings to be between $600 million and $800 million, and the company reiterated its contribution to operating earnings from improvement initiatives of $1.8 billion.
Tesla Inc. decreased 3.3% to $424.55, and the electric vehicle maker reported mixed third-quarter results.
Revenue advanced 12% to $28 billion from $25.2 billion, net income dropped 37% to $1.4 billion from $2.2 billion, and diluted earnings per share dropped 37% to 39 cents from 67 cents.
Revenue in the automotive segment rose 6% to $21.2 billion, energy generation and storage soared 44%, and services and other revenues advanced 25% to $3.5 billion.
International Business Machines dropped 6.7% to $287.51 after the company released its third-quarter results.
Revenue increased 9% to $16.3 billion from $14.9 billion, net income swung to a profit of $1.7 billion from a loss of $330 million, and diluted earnings per share were $1.84 compared to a loss of 36 cents a year ago.
The company declared a cash dividend of $1.68 per share payable on December 10 to shareholders, recorded on November 10.
Stock faced selling pressure after revenue growth in the hybrid cloud unit, also known as Red Hat, slowed to 14% from 16% in the previous quarter.
The company raised its fiscal year revenue outlook to a growth of more than 5%, compared to the previous estimate of at least 5%.